(Mark One) | |||||||||||||||||||||||
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||||||||||||||||||
For the | |||||||||||||||||||||||
OR | |||||||||||||||||||||||
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE | |||||||||||||||||||||||
ACT OF 1934 FOR THE TRANSITION PERIOD FROM | |||||||||||||||||||||||
Delaware | 61-1055020 | |||||||
(State or Other Jurisdiction of Incorporation or Organization) | ( Identification No.) | |||||||
Trading Symbol | Title of Each Class | Name of | ||||||||||||
VTR | Common Stock, $0.25 par value | New York Stock Exchange |
Large accelerated filer | ☒ | Accelerated filer | ¨ | Non-accelerated filer | ☐ | ||||||||||||||||||
Smaller reporting company | ☐ | Emerging growth company |
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Real Estate Property Investments | Revenues | |||||||||||||||||||||||||||||||||||||||||||
Asset Type | Properties (1) | Units/ Sq. Ft./ Beds (2) | Real Estate Property Investment, at Cost | Percent of Total Real Estate Property Investments | Real Estate Property Investment Per Unit/Bed/Sq. Ft. | Revenue | Percent of Total Revenues | |||||||||||||||||||||||||||||||||||||
Senior housing communities | 810 | 81,922 | $20,282,291 | 67.9 | % | $ | 247.6 | $2,604,396 | 68.0 | % | ||||||||||||||||||||||||||||||||||
MOBs (3) | 309 | 17,559,733 | 5,196,016 | 17.4 | 0.3 | 583,606 | 15.2 | |||||||||||||||||||||||||||||||||||||
Research and innovation centers | 31 | 5,451,703 | 1,988,685 | 6.7 | 0.4 | 220,962 | 5.8 | |||||||||||||||||||||||||||||||||||||
Inpatient rehabilitation facilities (IRFs) and long-term acute care facilities (LTACs) | 36 | 3,091 | 467,427 | 1.6 | 151.2 | 181,040 | 4.7 | |||||||||||||||||||||||||||||||||||||
Health systems | 13 | 2,064 | 1,519,645 | 5.1 | 736.3 | 125,842 | 3.3 | |||||||||||||||||||||||||||||||||||||
Skilled nursing facilities (SNFs) | 16 | 1,732 | 193,808 | 0.6 | 111.9 | 22,369 | 0.6 | |||||||||||||||||||||||||||||||||||||
Development properties and other | 10 | 201,745 | 0.7 | |||||||||||||||||||||||||||||||||||||||||
Total real estate investments, at cost | 1,225 | $ | 29,849,617 | 100.0 | % | |||||||||||||||||||||||||||||||||||||||
Income from loans and investments | 74,981 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||
Interest and other income | 14,810 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||
Revenues related to assets classified as held for sale | 4 | 1 | 0.0 | |||||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 3,828,007 | 100.0 | % |
Real Estate Property Investments | Revenues | |||||||||||||||||||||||
Asset Type | # of Properties (1) | # of Units/ Sq. Ft./ Beds(2) | Real Estate Property Investment, at Cost | Percent of Total Real Estate Property Investments | Real Estate Property Investment Per Unit/Bed/Sq. Ft. | Revenue | Percent of Total Revenues | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Seniors housing communities | 730 | 65,144 | $16,595,631 | 62.6 | % | $ | 254.8 | $2,513,400 | 67.2 | % | ||||||||||||||
MOBs(3) | 355 | 19,740,563 | 5,372,530 | 20.3 | 0.3 | 582,145 | 15.5 | |||||||||||||||||
Research and innovation centers | 32 | 5,937,163 | 2,109,334 | 8.0 | 0.4 | 207,283 | 5.5 | |||||||||||||||||
IRFs and LTACs | 37 | 3,124 | 459,027 | 1.7 | 146.9 | 157,855 | 4.2 | |||||||||||||||||
Health systems | 12 | 2,064 | 1,508,460 | 5.7 | 730.8 | 113,476 | 3.0 | |||||||||||||||||
SNFs | 17 | 1,882 | 204,488 | 0.8 | 108.7 | 21,919 | 0.6 | |||||||||||||||||
Development properties and other | 14 | 227,468 | 0.9 | |||||||||||||||||||||
Total real estate investments, at cost | 1,197 | $ | 26,476,938 | 100.0 | % | |||||||||||||||||||
Income from loans and investments | 124,218 | 3.3 | ||||||||||||||||||||||
Interest and other income | 24,892 | 0.7 | ||||||||||||||||||||||
Revenues related to assets classified as held for sale | 1 | 622 | 0.0 | |||||||||||||||||||||
Total revenues | $ | 3,745,810 | 100.0 | % |
(1) |
Consolidated (100% interest) | Consolidated (<100% interest) | Unconsolidated (25% interest) | Total | ||||||||
Seniors housing communities | 722 | 9 | 4 | 735 | |||||||
MOBs | 319 | 36 | 1 | 356 | |||||||
Research and innovation centers | 20 | 12 | — | 32 | |||||||
IRFs and LTACs | 36 | 1 | — | 37 | |||||||
Health systems | 12 | — | — | 12 | |||||||
SNFs | 17 | — | — | 17 | |||||||
Total | 1,126 | 58 | 5 | 1,189 |
Number of Properties Leased or Managed | Percent of Total Real Estate Investments (1) | Percent of Total Revenues | Percent of NOI | ||||||||
Senior living operations | 355 | 39.5 | % | 55.3 | % | 30.7 | % | ||||
Brookdale Senior Living (2) | 129 | 8.4 | 4.3 | 7.6 | |||||||
Ardent | 11 | 5.2 | 3.1 | 5.7 | |||||||
Kindred | 32 | 1.1 | 3.5 | 6.4 |
Number of Properties Leased or Managed | Percent of Total Real Estate Investments (1) | Percent of Total Revenues | Percent of NOI | ||||||||||||||||||||
Senior Living Operations | 545 | 54.4 | % | 59.4 | % | 26.8 | % | ||||||||||||||||
Brookdale Senior Living (2) | 121 | 7.8 | 3.9 | 8.6 | |||||||||||||||||||
Ardent | 12 | 4.7 | 3.3 | 7.4 | |||||||||||||||||||
Kindred | 31 | 1.0 | 3.8 | 7.8 |
Seniors Housing Communities | SNFs | MOBs | Research and Innovation Centers | IRFs and LTACs | Health Systems | Senior Housing Communities | SNFs | MOBs | Life Science, Research and Innovation Centers | IRFs and LTACs | Health Systems | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic Location | # of Properties | Units | # of Properties | Licensed Beds | # of Properties | Square Feet(1) | # of Properties | Square Feet(1) | # of Properties | Licensed Beds | # of Properties | Licensed Beds | Geographic Location | # of Properties | Units | # of Properties | Licensed Beds | # of Properties | Square Feet(1) | # of Properties | Square Feet(1) | # of Properties | Licensed Beds | # of Properties | Licensed Beds | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alabama | 6 | 409 | — | — | 4 | 469 | — | — | — | — | — | — | Alabama | 4 | 234 | — | — | 4 | 469 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Arkansas | Arkansas | 5 | 413 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Arizona | 28 | 2,436 | — | — | 14 | 880 | — | — | 1 | 60 | — | — | Arizona | 27 | 2,370 | — | — | 15 | 962 | 1 | 227 | 1 | 60 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Arkansas | 4 | 296 | — | — | 1 | 5 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
California | 84 | 9,572 | — | — | 28 | 2,106 | — | — | 6 | 503 | — | — | California | 85 | 9,710 | — | — | 29 | 2,330 | 3 | 784 | 5 | 455 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colorado | 15 | 1,257 | 1 | 82 | 13 | 896 | — | — | 1 | 68 | — | — | Colorado | 20 | 1,816 | 1 | 82 | 11 | 605 | — | — | 1 | 68 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Connecticut | 14 | 1,718 | — | — | — | — | 2 | 1,032 | — | — | — | — | Connecticut | 14 | 1,751 | — | — | — | — | 2 | 1,032 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
District of Columbia | — | — | — | — | 2 | 102 | — | — | — | — | — | — | District of Columbia | — | — | — | — | 2 | 102 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Florida | 46 | 4,372 | — | — | 14 | 318 | 1 | 252 | 6 | 508 | — | — | Florida | 46 | 4,251 | — | — | 11 | 223 | 1 | 252 | 6 | 508 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Georgia | 19 | 1,703 | — | — | 14 | 1,187 | — | — | — | — | — | — | Georgia | 20 | 1,812 | — | — | 12 | 1,090 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hawaii | Hawaii | 1 | 123 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Iowa | Iowa | 2 | 215 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Idaho | 1 | 70 | — | — | — | — | — | — | — | — | — | — | Idaho | 1 | 70 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Illinois | 25 | 2,957 | 1 | 82 | 36 | 1,448 | 1 | 129 | 4 | 430 | — | — | Illinois | 26 | 3,066 | 1 | 82 | 35 | 1,424 | 1 | 129 | 4 | 430 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indiana | 9 | 670 | — | — | 23 | 1,603 | — | — | 1 | 59 | — | — | Indiana | 5 | 462 | — | — | 22 | 1,597 | — | — | 1 | 59 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kansas | 9 | 541 | — | — | 1 | 33 | — | — | — | — | — | — | Kansas | 11 | 871 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kentucky | 9 | 818 | — | — | 4 | 173 | — | — | 1 | 384 | — | — | Kentucky | 6 | 624 | — | — | 2 | 73 | — | — | 1 | 384 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Louisiana | 1 | 58 | — | — | 6 | 396 | — | — | — | — | — | — | Louisiana | 3 | 281 | — | — | 5 | 362 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Massachusetts | Massachusetts | 17 | 2,093 | — | — | — | — | 1 | 78 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maryland | Maryland | 4 | 282 | — | — | 2 | 83 | 7 | 910 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maine | 6 | 452 | — | — | — | — | — | — | — | — | — | — | Maine | 6 | 452 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maryland | 5 | 360 | — | — | 2 | 83 | 5 | 467 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Massachusetts | 15 | 1,788 | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michigan | 22 | 1,388 | — | — | 14 | 599 | — | — | — | — | — | — | Michigan | 23 | 1,585 | — | — | 13 | 589 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minnesota | 14 | 856 | — | — | 4 | 241 | — | — | — | — | — | — | Minnesota | 14 | 856 | — | — | 3 | 159 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Missouri | Missouri | 5 | 474 | — | — | 20 | 1,119 | 5 | 818 | 1 | 60 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mississippi | — | — | — | — | 1 | 51 | — | — | — | — | — | — | Mississippi | 1 | 94 | — | — | 1 | 51 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Missouri | 2 | 153 | — | — | 21 | 1,166 | 5 | 818 | 1 | 60 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Montana | 3 | 222 | — | — | — | — | — | — | — | — | — | — | Montana | 5 | 464 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Carolina | North Carolina | 30 | 2,655 | — | — | 17 | 831 | 10 | 1,712 | 1 | 124 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Dakota | North Dakota | 2 | 115 | — | — | 1 | 114 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nebraska | 1 | 133 | — | — | — | — | — | — | — | — | — | — | Nebraska | 2 | 253 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nevada | 3 | 326 | — | — | 5 | 416 | — | — | 1 | 52 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Hampshire | 1 | 126 | — | — | — | — | — | — | — | — | — | — | New Hampshire | 2 | 242 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Jersey | 12 | 1,137 | 1 | 153 | 3 | 37 | — | — | — | — | — | — | New Jersey | 14 | 1,301 | 1 | 153 | 3 | 37 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Mexico | 4 | 453 | — | — | — | — | — | — | 2 | 123 | 4 | 544 | New Mexico | 4 | 451 | — | — | — | — | — | — | 2 | 123 | 4 | 544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nevada | Nevada | 5 | 621 | — | — | 5 | 416 | — | — | 1 | 52 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New York | 42 | 4,604 | — | — | 4 | 244 | — | — | — | — | — | — | New York | 40 | 4,689 | — | — | 4 | 244 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Carolina | 22 | 1,769 | — | — | 17 | 724 | 8 | 1,539 | 1 | 124 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Dakota | 2 | 115 | — | — | 1 | 114 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ohio | 20 | 1,273 | 1 | 150 | 28 | 1,226 | — | — | 1 | 50 | — | — | Ohio | 26 | 1,901 | — | — | 14 | 504 | — | — | 1 | 50 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oklahoma | 8 | 465 | — | — | 1 | 80 | — | — | — | — | 4 | 954 | Oklahoma | 8 | 559 | — | — | 1 | 80 | — | — | — | — | 4 | 954 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oregon | 29 | 2,585 | — | — | 1 | 105 | — | — | — | — | — | — | Oregon | 30 | 2,879 | — | — | 1 | 105 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 31 | 2,399 | 4 | 620 | 9 | 713 | 5 | 862 | 1 | 52 | — | — | Pennsylvania | 36 | 3,249 | 4 | 620 | 8 | 613 | 6 | 953 | 1 | 52 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rhode Island | 4 | 399 | — | — | — | — | 2 | 385 | — | — | — | — | Rhode Island | 4 | 399 | — | — | — | — | 3 | 580 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Carolina | 4 | 318 | — | — | 21 | 1,153 | — | — | — | — | — | — | South Carolina | 7 | 614 | — | — | 20 | 1,093 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Dakota | 4 | 182 | — | — | — | — | — | — | — | — | — | — | South Dakota | 5 | 328 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tennessee | 18 | 1,476 | — | — | 10 | 395 | — | — | 1 | 49 | — | — | Tennessee | 19 | 1,475 | — | — | 6 | 252 | — | — | 1 | 49 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Texas | 48 | 3,899 | — | — | 17 | 863 | — | — | 9 | 602 | 1 | 445 | Texas | 54 | 4,676 | — | — | 16 | 886 | — | — | 9 | 617 | 2 | 445 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Utah | 3 | 321 | — | — | — | — | — | — | — | — | — | — | Utah | 6 | 662 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Virginia | 8 | 664 | — | — | 5 | 231 | 3 | 453 | — | — | — | — | Virginia | 11 | 1,009 | — | — | 5 | 231 | 3 | 453 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Washington | 28 | 2,652 | 5 | 469 | 10 | 579 | — | — | — | — | — | — | Washington | 21 | 2,184 | 5 | 469 | 10 | 579 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | Wisconsin | 47 | 2,451 | — | — | 15 | 745 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
West Virginia | 2 | 131 | 4 | 326 | — | — | — | — | — | — | — | — | West Virginia | 2 | 123 | 4 | 326 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wisconsin | 44 | 2,174 | — | — | 21 | 1,105 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wyoming | 2 | 169 | — | — | — | — | — | — | — | — | — | — | Wyoming | 2 | 169 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total U.S. | 677 | 59,866 | 17 | 1,882 | 355 | 19,741 | 32 | 5,937 | 37 | 3,124 | 9 | 1,943 | Total U.S. | 728 | 67,374 | 16 | 1,732 | 313 | 17,965 | 43 | 7,930 | 36 | 3,091 | 10 | 1,943 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canada | 41 | 4,499 | — | — | — | — | — | — | — | — | — | — | Canada | 81 | 15,195 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United Kingdom | 12 | 779 | — | — | — | — | — | — | — | — | 3 | 121 | United Kingdom | 12 | 776 | — | — | — | — | — | — | — | — | 3 | 121 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 730 | 65,144 | 17 | 1,882 | 355 | 19,741 | 32 | 5,937 | 37 | 3,124 | 12 | 2,064 | Total | 821 | 83,345 | 16 | 1,732 | 313 | 17,965 | 43 | 7,930 | 36 | 3,091 | 13 | 2,064 |
(1)Square Feet are in thousands. Totals may not foot due to rounding. 37 |
Number of Shares Repurchased (1) | Average Price Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plans or Programs | ||||||||||||||||||||
October 1 through October 31 | 628 | $ | 55.05 | — | — | ||||||||||||||||||
November 1 through November 30 | 56 | 46.92 | — | — | |||||||||||||||||||
December 1 through December 31 | — | — | — | — | |||||||||||||||||||
Total | 684 | $ | 54.38 | — | — |
Number of Shares Repurchased (1) | Average Price Per Share | |||||
October 1 through October 31 | 2,424 | $ | 54.37 | |||
November 1 through November 30 | 442 | $ | 59.73 | |||
December 1 through December 31 | 148 | $ | 62.40 |
12/31/2016 | 12/31/2017 | 12/31/2018 | 12/31/2019 | 12/31/2020 | 12/31/2021 | ||||||||||||||||||||||||||||||
Ventas | $ | 100 | $ | 101 | $ | 104 | $ | 108 | $ | 97 | $ | 105 | |||||||||||||||||||||||
NYSE Composite Index | $ | 100 | $ | 119 | $ | 108 | $ | 136 | $ | 146 | $ | 176 | |||||||||||||||||||||||
Composite REIT Index | $ | 100 | $ | 109 | $ | 105 | $ | 135 | $ | 127 | $ | 177 | |||||||||||||||||||||||
S&P 500 Index | $ | 100 | $ | 122 | $ | 116 | $ | 153 | $ | 181 | $ | 233 |
12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 | 12/31/2017 | 12/31/2018 | ||||||
Ventas | $100 | $131 | $124 | $144 | $145 | $150 | |||||
NYSE Composite Index | $100 | $107 | $103 | $115 | $137 | $125 | |||||
Composite REIT Index | $100 | $127 | $130 | $142 | $155 | $149 | |||||
S&P 500 Index | $100 | $114 | $115 | $129 | $157 | $150 |
As of and For the Years Ended December 31, | |||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||||
Operating Data | |||||||||||||||||||
Rental income | $ | 1,513,807 | $ | 1,593,598 | $ | 1,476,176 | $ | 1,346,046 | $ | 1,138,457 | |||||||||
Resident fees and services | 2,069,477 | 1,843,232 | 1,847,306 | 1,811,255 | 1,552,951 | ||||||||||||||
Interest expense | 442,497 | 448,196 | 419,740 | 367,114 | 292,065 | ||||||||||||||
Property-level operating expenses | 1,689,880 | 1,483,072 | 1,434,762 | 1,383,640 | 1,195,388 | ||||||||||||||
General, administrative and professional fees | 151,982 | 135,490 | 126,875 | 128,035 | 121,738 | ||||||||||||||
Income from continuing operations | 415,991 | 1,361,222 | 652,412 | 408,119 | 377,266 | ||||||||||||||
Net income attributable to common stockholders | 409,467 | 1,356,470 | 649,231 | 417,843 | 475,767 | ||||||||||||||
Per Share Data | |||||||||||||||||||
Income from continuing operations: | |||||||||||||||||||
Basic | $ | 1.17 | $ | 3.83 | $ | 1.89 | $ | 1.24 | $ | 1.28 | |||||||||
Diluted | $ | 1.16 | $ | 3.80 | $ | 1.87 | $ | 1.22 | $ | 1.27 | |||||||||
Net income attributable to common stockholders: | |||||||||||||||||||
Basic | $ | 1.15 | $ | 3.82 | $ | 1.88 | $ | 1.26 | $ | 1.62 | |||||||||
Diluted | $ | 1.14 | $ | 3.78 | $ | 1.86 | $ | 1.25 | $ | 1.60 | |||||||||
Other Data | |||||||||||||||||||
Net cash provided by operating activities | $ | 1,381,467 | $ | 1,428,752 | $ | 1,354,702 | $ | 1,402,003 | $ | 1,252,986 | |||||||||
Net cash provided by (used in) investing activities | 324,496 | (937,107 | ) | (1,214,280 | ) | (2,420,740 | ) | (2,050,515 | ) | ||||||||||
Net cash (used in) provided by financing activities | (1,761,937 | ) | (671,327 | ) | 96,838 | 1,023,058 | 742,506 | ||||||||||||
FFO (1) | 1,308,149 | 1,512,885 | 1,440,544 | 1,365,408 | 1,273,680 | ||||||||||||||
Normalized FFO (1) | 1,462,055 | 1,491,241 | 1,438,643 | 1,493,683 | 1,330,018 | ||||||||||||||
Balance Sheet Data | |||||||||||||||||||
Real estate investments, at cost | $ | 26,476,938 | $ | 26,260,553 | $ | 25,380,524 | $ | 23,855,137 | $ | 20,248,504 | |||||||||
Cash and cash equivalents | 72,277 | 81,355 | 286,707 | 53,023 | 55,348 | ||||||||||||||
Total assets | 22,584,555 | 23,954,541 | 23,166,600 | 22,261,918 | 21,165,889 | ||||||||||||||
Senior notes payable and other debt | 10,733,699 | 11,276,062 | 11,127,326 | 11,206,996 | 10,850,273 |
For the Years Ended December 31, | (Decrease) Increase to Net Income | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI: | ||||||||||||||
Triple-net leased properties | $ | 740,318 | $ | 844,711 | $ | (104,393 | ) | (12.4 | )% | |||||
Senior living operations | 623,276 | 593,167 | 30,109 | 5.1 | ||||||||||
Office operations | 538,506 | 524,566 | 13,940 | 2.7 | ||||||||||
All other | 127,520 | 119,208 | 8,312 | 7.0 | ||||||||||
Total segment NOI | 2,029,620 | 2,081,652 | (52,032 | ) | (2.5 | ) | ||||||||
Interest and other income | 24,892 | 6,034 | 18,858 | nm | ||||||||||
Interest expense | (442,497 | ) | (448,196 | ) | 5,699 | 1.3 | ||||||||
Depreciation and amortization | (919,639 | ) | (887,948 | ) | (31,691 | ) | (3.6 | ) | ||||||
General, administrative and professional fees | (151,982 | ) | (135,490 | ) | (16,492 | ) | (12.2 | ) | ||||||
Loss on extinguishment of debt, net | (58,254 | ) | (754 | ) | (57,500 | ) | nm | |||||||
Merger-related expenses and deal costs | (30,547 | ) | (10,535 | ) | (20,012 | ) | nm | |||||||
Other | (66,768 | ) | (20,052 | ) | (46,716 | ) | nm | |||||||
Income before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interests | 384,825 | 584,711 | (199,886 | ) | (34.2 | ) | ||||||||
Loss from unconsolidated entities | (55,034 | ) | (561 | ) | (54,473 | ) | nm | |||||||
Gain on real estate dispositions | 46,247 | 717,273 | (671,026 | ) | (93.6 | ) | ||||||||
Income tax benefit | 39,953 | 59,799 | (19,846 | ) | (33.2 | ) | ||||||||
Income from continuing operations | 415,991 | 1,361,222 | (945,231 | ) | (69.4 | ) | ||||||||
Discontinued operations | (10 | ) | (110 | ) | 100 | 90.9 | ||||||||
Net income | 415,981 | 1,361,112 | (945,131 | ) | (69.4 | ) | ||||||||
Net income attributable to noncontrolling interests | 6,514 | 4,642 | (1,872 | ) | (40.3 | ) | ||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | (947,003 | ) | (69.8 | ) |
For the Years Ended December 31, | (Decrease) Increase to Net Income | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Segment NOI: | |||||||||||||||||||||||
Triple-net leased properties | $ | 638,488 | $ | 673,105 | $ | (34,617) | (5.1 | %) | |||||||||||||||
Senior living operations | 458,273 | 538,489 | (80,216) | (14.9) | |||||||||||||||||||
Office operations | 543,882 | 549,375 | (5,493) | (1.0) | |||||||||||||||||||
All other | 84,058 | 87,021 | (2,963) | (3.4) | |||||||||||||||||||
Total segment NOI | 1,724,701 | 1,847,990 | (123,289) | (6.7) | |||||||||||||||||||
Interest and other income | 14,809 | 7,609 | 7,200 | 94.6 | |||||||||||||||||||
Interest expense | (440,089) | (469,541) | 29,452 | 6.3 | |||||||||||||||||||
Depreciation and amortization | (1,197,403) | (1,109,763) | (87,640) | (7.9) | |||||||||||||||||||
General, administrative and professional fees | (129,758) | (130,158) | 400 | 0.3 | |||||||||||||||||||
Loss on extinguishment of debt, net | (59,299) | (10,791) | (48,508) | nm | |||||||||||||||||||
Transaction expenses and deal costs | (47,318) | (29,812) | (17,506) | (58.7) | |||||||||||||||||||
Allowance on loans receivable and investments | 9,082 | (24,238) | 33,320 | nm | |||||||||||||||||||
Other | (37,110) | (707) | (36,403) | nm | |||||||||||||||||||
(Loss) income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | (162,385) | 80,589 | (242,974) | nm | |||||||||||||||||||
Income from unconsolidated entities | 4,983 | 1,844 | 3,139 | nm | |||||||||||||||||||
Gain on real estate dispositions | 218,788 | 262,218 | (43,430) | (16.6) | |||||||||||||||||||
Income tax (expense) benefit | (4,827) | 96,534 | (101,361) | nm | |||||||||||||||||||
Income from continuing operations | 56,559 | 441,185 | (384,626) | (87.2) | |||||||||||||||||||
Net income | 56,559 | 441,185 | (384,626) | (87.2) | |||||||||||||||||||
Net income attributable to noncontrolling interests | 7,551 | 2,036 | 5,515 | nm | |||||||||||||||||||
Net income attributable to common stockholders | $ | 49,008 | $ | 439,149 | (390,141) | (88.8) |
For the Years Ended December 31, | Decrease to Segment NOI | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI—Triple-Net Leased Properties: | ||||||||||||||
Rental income | $ | 737,796 | $ | 840,131 | $ | (102,335 | ) | (12.2 | )% | |||||
Other services revenue | 2,522 | 4,580 | (2,058 | ) | (44.9 | ) | ||||||||
Segment NOI | $ | 740,318 | $ | 844,711 | (104,393 | ) | (12.4 | ) |
For the Years Ended December 31, | (Decrease) Increase to Segment NOI | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Segment NOI—Triple-Net Leased Properties: | |||||||||||||||||||||||
Rental income | $ | 653,823 | $ | 695,265 | $ | (41,442) | (6.0 | %) | |||||||||||||||
Less: Property-level operating expenses | (15,335) | (22,160) | 6,825 | 30.8 | |||||||||||||||||||
Segment NOI | $ | 638,488 | $ | 673,105 | (34,617) | (5.1) |
Number of Properties at December 31, 2018 | Average Occupancy for the Trailing 12 Months Ended September 30, 2018 | Number of Properties at December 31, 2017 | Average Occupancy for the Trailing 12 Months Ended September 30, 2017 | |||||||||
Seniors housing communities(1) | 361 | 85.0 | % | 418 | 86.6 | % | ||||||
SNFs(1) | 17 | 85.2 | 17 | 86.4 | ||||||||
IRFs and LTACs(1) | 36 | 56.5 | 36 | 60.4 |
Number of Properties at December 31, 2021 | Average Occupancy for the Trailing 12 Months Ended September 30, 2021 | Number of Properties at December 31, 2020 | Average Occupancy for the Trailing 12 Months Ended September 30, 2020 | |||||||||||||||||||||||
Senior housing communities | 261 | 73.5 | % | 290 | 82.1 | % | ||||||||||||||||||||
Skilled nursing facilities (“SNFs”) | 16 | 75.9 | 16 | 82.9 | ||||||||||||||||||||||
IRFs and LTACs | 35 | 58.5 | 35 | 55.7 |
Declines in occupancy are primarily the result of COVID-19 impacts to senior housing and SNF operations. |
For the Years Ended December 31, | Increase to Segment NOI | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Same-Store Segment NOI—Triple-Net Leased Properties: | |||||||||||||||||||||||
Rental income | $ | 591,348 | $ | 553,155 | $ | 38,193 | 6.9 | % | |||||||||||||||
Less: Property-level operating expenses | (12,617) | (13,758) | 1,141 | 8.3 | |||||||||||||||||||
Segment NOI | $ | 578,731 | $ | 539,397 | 39,334 | 7.3 |
For the Years Ended December 31, | Increase to Segment NOI | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Triple-Net Leased Properties: | ||||||||||||||
Rental income | $ | 695,536 | $ | 694,584 | $ | 952 | 0.1 | % | ||||||
Segment NOI | $ | 695,536 | $ | 694,584 | 952 | 0.1 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | ||||||||||||||||||||||||||||||||||||
2018 | 2017 | $ | % | For the Years Ended December 31, | Increase (Decrease) to Segment NOI | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2021 | 2020 | $ | % | |||||||||||||||||||||||||||||||||
Segment NOI—Senior Living Operations: | Segment NOI—Senior Living Operations: | ||||||||||||||||||||||||||||||||||||
Resident fees and services | $ | 2,069,477 | $ | 1,843,232 | $ | 226,245 | 12.3 | % | Resident fees and services | $ | 2,270,001 | $ | 2,197,160 | $ | 72,841 | 3.3 | % | ||||||||||||||||||||
Less: Property-level operating expenses | (1,446,201 | ) | (1,250,065 | ) | (196,136 | ) | (15.7 | ) | Less: Property-level operating expenses | (1,811,728) | (1,658,671) | (153,057) | (9.2) | ||||||||||||||||||||||||
Segment NOI | $ | 623,276 | $ | 593,167 | 30,109 | 5.1 | Segment NOI | $ | 458,273 | $ | 538,489 | (80,216) | (14.9) |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||||||||||||
Total communities | 355 | 293 | 86.9 | % | 88.3 | % | $ | 5,647 | $ | 5,725 |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Total communities | 545 | 432 | 78.5 | % | 81.7 | % | $ | 4,487 | $ | 4,766 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Senior Living Operations: | ||||||||||||||
Resident fees and services | $ | 1,773,850 | $ | 1,759,670 | $ | 14,180 | 0.8 | % | ||||||
Less: Property-level operating expenses | (1,213,049 | ) | (1,188,064 | ) | (24,985 | ) | (2.1 | ) | ||||||
Segment NOI | $ | 560,801 | $ | 571,606 | (10,805 | ) | (1.9 | ) |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||||||||||||
Same-store communities | 275 | 275 | 87.6 | % | 88.5 | % | $ | 5,906 | $ | 5,797 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI—Office Operations: | ||||||||||||||
Rental income | $ | 776,011 | $ | 753,467 | $ | 22,544 | 3.0 | % | ||||||
Office building services revenue | 7,592 | 7,497 | 95 | 1.3 | ||||||||||
Total revenues | 783,603 | 760,964 | 22,639 | 3.0 | ||||||||||
Less: | ||||||||||||||
Property-level operating expenses | (243,679 | ) | (233,007 | ) | (10,672 | ) | (4.6 | ) | ||||||
Office building services costs | (1,418 | ) | (3,391 | ) | 1,973 | 58.2 | ||||||||
Segment NOI | $ | 538,506 | $ | 524,566 | 13,940 | 2.7 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||||||||||||
Total office buildings | 387 | 391 | 90.1 | % | 92.0 | % | $ | 32 | $ | 32 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2018 | 2017 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Office Operations: | ||||||||||||||
Rental income | $ | 694,209 | $ | 684,941 | $ | 9,268 | 1.4 | % | ||||||
Less: Property-level operating expenses | (215,052 | ) | (209,939 | ) | (5,113 | ) | (2.4 | ) | ||||||
Segment NOI | $ | 479,157 | $ | 475,002 | 4,155 | 0.9 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||||||||||||
Same-store office buildings | 360 | 360 | 91.8 | % | 92.7 | % | $ | 32 | $ | 31 |
For the Years Ended December 31, | (Decrease) Increase to Net Income | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI: | ||||||||||||||
Triple-net leased properties | $ | 844,711 | $ | 850,755 | $ | (6,044 | ) | (0.7 | )% | |||||
Senior living operations | 593,167 | 604,328 | (11,161 | ) | (1.8 | ) | ||||||||
Office operations | 524,566 | 444,276 | 80,290 | 18.1 | ||||||||||
All other | 119,208 | 101,214 | 17,994 | 17.8 | ||||||||||
Total segment NOI | 2,081,652 | 2,000,573 | 81,079 | 4.1 | ||||||||||
Interest and other income | 6,034 | 876 | 5,158 | nm | ||||||||||
Interest expense | (448,196 | ) | (419,740 | ) | (28,456 | ) | (6.8 | ) | ||||||
Depreciation and amortization | (887,948 | ) | (898,924 | ) | 10,976 | 1.2 | ||||||||
General, administrative and professional fees | (135,490 | ) | (126,875 | ) | (8,615 | ) | (6.8 | ) | ||||||
Loss on extinguishment of debt, net | (754 | ) | (2,779 | ) | 2,025 | 72.9 | ||||||||
Merger-related expenses and deal costs | (10,535 | ) | (24,635 | ) | 14,100 | 57.2 | ||||||||
Other | (20,052 | ) | (9,988 | ) | (10,064 | ) | nm | |||||||
Income before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interest | 584,711 | 518,508 | 66,203 | 12.8 | ||||||||||
(Loss) income from unconsolidated entities | (561 | ) | 4,358 | (4,919 | ) | nm | ||||||||
Gain on real estate dispositions | 717,273 | 98,203 | 619,070 | nm | ||||||||||
Income tax benefit | 59,799 | 31,343 | 28,456 | nm | ||||||||||
Income from continuing operations | 1,361,222 | 652,412 | 708,810 | nm | ||||||||||
Discontinued operations | (110 | ) | (922 | ) | 812 | nm | ||||||||
Net income | 1,361,112 | 651,490 | 709,622 | nm | ||||||||||
Net income attributable to noncontrolling interests | 4,642 | 2,259 | (2,383 | ) | nm | |||||||||
Net income attributable to common stockholders | $ | 1,356,470 | $ | 649,231 | 707,239 | nm |
For the Years Ended December 31, | Decrease to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI—Triple-Net Leased Properties: | ||||||||||||||
Rental income | $ | 840,131 | $ | 845,834 | $ | (5,703 | ) | (0.7 | )% | |||||
Other services revenue | 4,580 | 4,921 | (341 | ) | (6.9 | ) | ||||||||
Segment NOI | $ | 844,711 | $ | 850,755 | (6,044 | ) | (0.7 | ) |
For the Years Ended December 31, | Increase to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Triple-Net Leased Properties: | ||||||||||||||
Rental income | $ | 769,063 | $ | 760,848 | $ | 8,215 | 1.1 | % | ||||||
Segment NOI | $ | 769,063 | $ | 760,848 | 8,215 | 1.1 |
For the Years Ended December 31, | Decrease to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI—Senior Living Operations: | ||||||||||||||
Resident fees and services | $ | 1,843,232 | $ | 1,847,306 | $ | (4,074 | ) | (0.2 | )% | |||||
Less: Property-level operating expenses | (1,250,065 | ) | (1,242,978 | ) | (7,087 | ) | (0.6 | ) | ||||||
Segment NOI | $ | 593,167 | $ | 604,328 | (11,161 | ) | (1.8 | ) |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Total communities | 293 | 298 | 88.3 | % | 90.3 | % | $ | 5,725 | $ | 5,474 |
For the Years Ended December 31, | Decrease to Segment NOI | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Same-Store Segment NOI—Senior Living Operations: | |||||||||||||||||||||||
Resident fees and services | $ | 1,619,570 | $ | 1,713,490 | $ | (93,920) | (5.5 | %) | |||||||||||||||
Less: Property-level operating expenses | (1,249,253) | (1,240,278) | (8,975) | (0.7) | |||||||||||||||||||
Segment NOI | $ | 370,317 | $ | 473,212 | (102,895) | (21.7) |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Same-store communities | 276 | 276 | 81.6 | % | 84.2 | % | $ | 4,939 | $ | 5,069 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Senior Living Operations: | ||||||||||||||
Resident fees and services | $ | 1,791,843 | $ | 1,765,183 | $ | 26,660 | 1.5 | % | ||||||
Less: Property-level operating expenses | (1,215,440 | ) | (1,187,351 | ) | (28,089 | ) | (2.4 | ) | ||||||
Segment NOI | $ | 576,403 | $ | 577,832 | (1,429 | ) | (0.2 | ) |
Number of Properties at December 31, | Average Unit Occupancy for the Years Ended December 31, | Average Monthly Revenue Per Occupied Room for the Years Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Same-store communities | 285 | 285 | 88.3 | % | 90.4 | % | $ | 5,745 | $ | 5,526 |
For the Years Ended December 31, | (Decrease) Increase to Segment NOI | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Segment NOI—Office Operations: | |||||||||||||||||||||||
Rental income | $ | 794,297 | $ | 799,627 | $ | (5,330) | (0.7 | %) | |||||||||||||||
Office building services revenue | 8,384 | 8,675 | (291) | (3.4) | |||||||||||||||||||
Total revenues | 802,681 | 808,302 | (5,621) | (0.7) | |||||||||||||||||||
Less: | |||||||||||||||||||||||
Property-level operating expenses | (257,001) | (256,612) | (389) | (0.2) | |||||||||||||||||||
Office building and other services costs | (1,798) | (2,315) | 517 | 22.3 | |||||||||||||||||||
Segment NOI | $ | 543,882 | $ | 549,375 | (5,493) | (1.0) |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Segment NOI—Office Operations: | ||||||||||||||
Rental income | $ | 753,467 | $ | 630,342 | $ | 123,125 | 19.5 | % | ||||||
Office building services revenue | 7,497 | 13,029 | (5,532 | ) | (42.5 | ) | ||||||||
Total revenues | 760,964 | 643,371 | 117,593 | 18.3 | ||||||||||
Less: | ||||||||||||||
Property-level operating expenses | (233,007 | ) | (191,784 | ) | (41,223 | ) | (21.5 | ) | ||||||
Office building services costs | (3,391 | ) | (7,311 | ) | 3,920 | 53.6 | ||||||||
Segment NOI | $ | 524,566 | $ | 444,276 | 80,290 | 18.1 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Total office buildings | 342 | 374 | 90.8 | % | 89.7 | % | $ | 35 | $ | 34 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Total office buildings | 391 | 388 | 92.0 | % | 91.7 | % | $ | 32 | $ | 31 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | ||||||||||||||||||||||
2021 | 2020 | $ | % | ||||||||||||||||||||
Same-Store Segment NOI—Office Operations: | |||||||||||||||||||||||
Rental income | $ | 729,358 | $ | 699,231 | $ | 30,127 | 4.3 | % | |||||||||||||||
Less: Property-level operating expenses | (230,393) | (222,136) | (8,257) | (3.7) | |||||||||||||||||||
Segment NOI | $ | 498,965 | $ | 477,095 | 21,870 | 4.6 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Same-store office buildings | 327 | 327 | 92.3 | % | 91.8 | % | $ | 35 | $ | 34 |
For the Years Ended December 31, | Increase (Decrease) to Segment NOI | |||||||||||||
2017 | 2016 | $ | % | |||||||||||
(Dollars in thousands) | ||||||||||||||
Same-Store Segment NOI—Office Operations: | ||||||||||||||
Rental income | $ | 558,575 | $ | 552,045 | $ | 6,530 | 1.2 | % | ||||||
Less: Property-level operating expenses | (169,583 | ) | (164,987 | ) | (4,596 | ) | (2.8 | ) | ||||||
Segment NOI | $ | 388,992 | $ | 387,058 | 1,934 | 0.5 |
Number of Properties at December 31, | Occupancy at December 31, | Annualized Average Rent Per Occupied Square Foot for the Years Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Same-store office buildings | 350 | 350 | 91.3 | % | 92.0 | % | $ | 31 | $ | 30 |
For the Years Ended December 31, | |||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | $ | 649,231 | $ | 417,843 | $ | 475,767 | |||||||||
Adjustments: | |||||||||||||||||||
Real estate depreciation and amortization | 913,537 | 881,088 | 891,985 | 887,126 | 718,649 | ||||||||||||||
Real estate depreciation related to noncontrolling interests | (6,926 | ) | (7,565 | ) | (7,785 | ) | (7,906 | ) | (10,314 | ) | |||||||||
Real estate depreciation related to unconsolidated entities | 1,977 | 4,231 | 5,754 | 7,353 | 5,792 | ||||||||||||||
(Gain) loss on real estate dispositions related to unconsolidated entities | (875 | ) | (1,057 | ) | (439 | ) | 19 | — | |||||||||||
(Gain) loss on re-measurement of equity interest upon acquisition, net | — | (3,027 | ) | — | 176 | — | |||||||||||||
Impairment on equity method investments | 35,708 | — | — | — | — | ||||||||||||||
Gain on real estate dispositions related to noncontrolling interests | 1,508 | 18 | — | — | — | ||||||||||||||
Gain on real estate dispositions | (46,247 | ) | (717,273 | ) | (98,203 | ) | (18,580 | ) | (17,970 | ) | |||||||||
Discontinued operations: | |||||||||||||||||||
Loss (gain) on real estate dispositions | — | — | 1 | (231 | ) | (1,494 | ) | ||||||||||||
Depreciation on real estate assets | — | — | — | 79,608 | 103,250 | ||||||||||||||
FFO attributable to common stockholders | 1,308,149 | 1,512,885 | 1,440,544 | 1,365,408 | 1,273,680 | ||||||||||||||
Adjustments: | |||||||||||||||||||
Change in fair value of financial instruments | (18 | ) | (41 | ) | 62 | 460 | 5,121 | ||||||||||||
Non-cash income tax benefit | (18,427 | ) | (22,387 | ) | (34,227 | ) | (42,384 | ) | (9,431 | ) | |||||||||
Effect of the 2017 Tax Act | (24,618 | ) | (36,539 | ) | — | — | — | ||||||||||||
Loss on extinguishment of debt, net | 63,073 | 839 | 2,779 | 15,797 | 5,013 | ||||||||||||||
Gain on non-real estate dispositions related to unconsolidated entities | (2 | ) | (39 | ) | (557 | ) | — | — | |||||||||||
Merger-related expenses, deal costs and re-audit costs | 38,145 | 14,823 | 28,290 | 152,344 | 54,389 | ||||||||||||||
Amortization of other intangibles | 759 | 1,458 | 1,752 | 2,058 | 1,246 | ||||||||||||||
Other items related to unconsolidated entities | 5,035 | 3,188 | — | — | — | ||||||||||||||
Non-cash impact of changes to equity plan | 4,830 | 5,453 | — | — | — | ||||||||||||||
Non-cash charges related to lease terminations | 21,299 | — | — | — | — | ||||||||||||||
Natural disaster expenses (recoveries), net | 63,830 | 11,601 | — | — | — | ||||||||||||||
Normalized FFO attributable to common stockholders | $ | 1,462,055 | $ | 1,491,241 | $ | 1,438,643 | $ | 1,493,683 | $ | 1,330,018 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | $ | 649,231 | |||||
Adjustments: | |||||||||||
Interest | 442,497 | 448,196 | 419,740 | ||||||||
Loss on extinguishment of debt, net | 58,254 | 754 | 2,779 | ||||||||
Taxes (including amounts in general, administrative and professional fees) | (37,230 | ) | (57,307 | ) | (29,129 | ) | |||||
Depreciation and amortization | 919,639 | 887,948 | 898,924 | ||||||||
Non-cash stock-based compensation expense | 29,963 | 26,543 | 20,958 | ||||||||
Merger-related expenses, deal costs and re-audit costs | 33,608 | 12,653 | 25,141 | ||||||||
Net income attributable to noncontrolling interests, net of consolidated joint venture partners’ share of EBITDA | (10,420 | ) | (12,975 | ) | (12,654 | ) | |||||
Loss (income) from unconsolidated entities, net of Ventas share of EBITDA from unconsolidated entities | 86,278 | 32,219 | 25,246 | ||||||||
Gain on real estate dispositions | (46,247 | ) | (717,273 | ) | (98,202 | ) | |||||
Unrealized foreign currency losses (gains) | 138 | (612 | ) | (1,440 | ) | ||||||
Changes in fair value of financial instruments | (54 | ) | (61 | ) | 51 | ||||||
Gain on re-measurement of equity interest upon acquisition, net | — | (3,027 | ) | — | |||||||
Non-cash charges related to lease terminations | 21,299 | — | — | ||||||||
Natural disaster expenses (recoveries), net | 54,684 | 11,601 | — | ||||||||
Adjusted EBITDA | $ | 1,961,876 | $ | 1,985,129 | $ | 1,900,645 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Net income attributable to common stockholders | $ | 49,008 | $ | 439,149 | $ | 433,016 | |||||||||||
Adjustments: | |||||||||||||||||
Depreciation and amortization on real estate assets | 1,192,856 | 1,104,114 | 1,039,550 | ||||||||||||||
Depreciation on real estate assets related to noncontrolling interests | (18,498) | (16,767) | (9,762) | ||||||||||||||
Depreciation on real estate assets related to unconsolidated entities | 17,888 | 4,986 | 187 | ||||||||||||||
Gain on real estate dispositions related to unconsolidated entities | — | — | (1,263) | ||||||||||||||
Gain (loss) on real estate dispositions related to noncontrolling interests | 302 | (9) | 343 | ||||||||||||||
Gain on real estate dispositions | (218,788) | (262,218) | (26,022) | ||||||||||||||
FFO attributable to common stockholders | 1,022,768 | 1,269,255 | 1,436,049 | ||||||||||||||
Adjustments: | |||||||||||||||||
Change in fair value of financial instruments | 1,207 | (21,928) | (78) | ||||||||||||||
Non-cash income tax benefit | (1,224) | (98,114) | (58,918) | ||||||||||||||
Loss on extinguishment of debt, net | 64,558 | 10,791 | 41,900 | ||||||||||||||
Gain on transactions related to unconsolidated entities | (6,328) | (597) | (18) | ||||||||||||||
Transaction expenses and deal costs | 54,874 | 34,690 | 18,208 | ||||||||||||||
Amortization of other intangibles | (21,627) | 472 | 484 | ||||||||||||||
Other items related to unconsolidated entities | 1,479 | (614) | 3,291 | ||||||||||||||
Non-cash impact of changes to equity plan | 1,796 | (452) | 7,812 | ||||||||||||||
Natural disaster expenses (recoveries), net | 10,147 | 1,247 | (25,683) | ||||||||||||||
Impact of Holiday lease termination | — | (50,184) | — | ||||||||||||||
Write-off of straight-line rental income, net of noncontrolling interests | — | 70,863 | — | ||||||||||||||
Allowance on loan investments and impairment of unconsolidated entities, net of noncontrolling interests | (9,074) | 34,543 | — | ||||||||||||||
Normalized FFO attributable to common stockholders | $ | 1,118,576 | $ | 1,249,972 | $ | 1,423,047 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Net income attributable to common stockholders | $ | 49,008 | $ | 439,149 | $ | 433,016 | |||||||||||
Adjustments: | |||||||||||||||||
Interest and other income | (14,809) | (7,609) | (10,984) | ||||||||||||||
Interest expense | 440,089 | 469,541 | 451,662 | ||||||||||||||
Depreciation and amortization | 1,197,403 | 1,109,763 | 1,045,620 | ||||||||||||||
General, administrative and professional fees | 129,758 | 130,158 | 158,726 | ||||||||||||||
Loss on extinguishment of debt, net | 59,299 | 10,791 | 41,900 | ||||||||||||||
Transaction expenses and deal costs | 47,318 | 29,812 | 15,235 | ||||||||||||||
Allowance on loan receivable and investments | (9,082) | 24,238 | — | ||||||||||||||
Other | 37,110 | 707 | (10,339) | ||||||||||||||
Net income attributable to noncontrolling interests | 7,551 | 2,036 | 6,281 | ||||||||||||||
(Income) loss from unconsolidated entities | (4,983) | (1,844) | 2,454 | ||||||||||||||
Income tax expense (benefit) | 4,827 | (96,534) | (56,310) | ||||||||||||||
Gain on real estate dispositions | (218,788) | (262,218) | (26,022) | ||||||||||||||
NOI | $ | 1,724,701 | $ | 1,847,990 | $ | 2,051,239 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | $ | 649,231 | |||||
Adjustments: | |||||||||||
Interest and other income | (24,892 | ) | (6,034 | ) | (876 | ) | |||||
Interest | 442,497 | 448,196 | 419,740 | ||||||||
Depreciation and amortization | 919,639 | 887,948 | 898,924 | ||||||||
General, administrative and professional fees | 151,982 | 135,490 | 126,875 | ||||||||
Loss on extinguishment of debt, net | 58,254 | 754 | 2,779 | ||||||||
Merger-related expenses and deal costs | 30,557 | 10,645 | 25,556 | ||||||||
Other | 66,768 | 20,052 | 9,988 | ||||||||
Net income attributable to noncontrolling interests | 6,514 | 4,642 | 2,259 | ||||||||
Loss (income) from unconsolidated entities | 55,034 | 561 | (4,358 | ) | |||||||
Income tax benefit | (39,953 | ) | (59,799 | ) | (31,343 | ) | |||||
Gain on real estate dispositions | (46,247 | ) | (717,273 | ) | (98,202 | ) | |||||
NOI | $ | 2,029,620 | $ | 2,081,652 | $ | 2,000,573 |
As of December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Balance: | |||||||||||||||||
Fixed rate: | |||||||||||||||||
Senior notes | $ | 8,729,102 | $ | 8,869,036 | $ | 8,584,056 | |||||||||||
Unsecured term loans | 200,000 | 200,000 | 200,000 | ||||||||||||||
Secured revolving construction credit facility | — | — | 160,492 | ||||||||||||||
Mortgage loans and other | 2,061,880 | 1,389,227 | 1,325,854 | ||||||||||||||
Subtotal fixed rate | 10,990,982 | 10,458,263 | 10,270,402 | ||||||||||||||
Variable rate: | |||||||||||||||||
Senior notes | — | 235,664 | 231,018 | ||||||||||||||
Unsecured revolving credit facility | 56,448 | 39,395 | 120,787 | ||||||||||||||
Unsecured term loans | 395,757 | 392,773 | 385,030 | ||||||||||||||
Commercial paper notes | 280,000 | — | 567,450 | ||||||||||||||
Secured revolving construction credit facility | — | 154,098 | — | ||||||||||||||
Mortgage loans and other | 369,951 | 702,878 | 671,115 | ||||||||||||||
Subtotal variable rate | 1,102,156 | 1,524,808 | 1,975,400 | ||||||||||||||
Total | $ | 12,093,138 | $ | 11,983,071 | $ | 12,245,802 | |||||||||||
Percent of total debt: | |||||||||||||||||
Fixed rate: | |||||||||||||||||
Senior notes | 72.1 | % | 73.9 | % | 70.1 | % | |||||||||||
Unsecured term loans | 1.7 | 1.7 | 1.6 | ||||||||||||||
Secured revolving construction credit facility | — | — | 1.3 | ||||||||||||||
Mortgage loans and other | 17.0 | 11.6 | 10.8 | ||||||||||||||
Variable rate: | |||||||||||||||||
Senior notes | — | 2.0 | 1.9 | ||||||||||||||
Unsecured revolving credit facility | 0.5 | 0.3 | 1.0 | ||||||||||||||
Unsecured term loans | 3.3 | 3.3 | 3.1 | ||||||||||||||
Commercial paper notes | 2.3 | — | 4.7 | ||||||||||||||
Secured revolving construction credit facility | — | 1.3 | — | ||||||||||||||
Mortgage loans and other | 3.1 | 5.9 | 5.5 | ||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||||
Weighted average interest rate at end of period: | |||||||||||||||||
Fixed rate: | |||||||||||||||||
Senior notes | 3.7 | % | 3.7 | % | 3.7 | % | |||||||||||
Unsecured term loans | 3.6 | 3.6 | 2.0 | ||||||||||||||
Secured revolving construction credit facility | — | — | 4.5 | ||||||||||||||
Mortgage loans and other | 3.6 | 3.5 | 3.7 | ||||||||||||||
Variable rate: | |||||||||||||||||
Senior notes | — | 1.0 | 2.5 | ||||||||||||||
Unsecured revolving credit facility | 1.1 | 1.0 | 2.4 | ||||||||||||||
Unsecured term loans | 1.4 | 1.4 | 2.9 | ||||||||||||||
Commercial paper notes | 0.3 | — | 2.0 | ||||||||||||||
Secured revolving construction credit facility | — | 1.9 | — | ||||||||||||||
Mortgage loans and other | 1.7 | 1.9 | 3.4 | ||||||||||||||
Total | 3.4 | 3.4 | 3.5 |
As of December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(Dollars in thousands) | |||||||||||
Balance: | |||||||||||
Fixed rate: | |||||||||||
Senior notes | $ | 7,945,598 | $ | 8,218,369 | $ | 7,854,264 | |||||
Unsecured term loans | 400,000 | 200,000 | 200,000 | ||||||||
Mortgage loans and other(1) | 698,136 | 1,010,517 | 1,426,837 | ||||||||
Variable rate: | |||||||||||
Senior notes | — | 400,000 | — | ||||||||
Unsecured revolving credit facility | 765,919 | 535,832 | 146,538 | ||||||||
Unsecured term loans | 500,000 | 700,000 | 1,271,215 | ||||||||
Secured revolving construction credit facility | 90,488 | 2,868 | — | ||||||||
Mortgage loans and other(1) | 429,561 | 298,047 | 292,060 | ||||||||
Total | $ | 10,829,702 | $ | 11,365,633 | $ | 11,190,914 | |||||
Percent of total debt: | |||||||||||
Fixed rate: | |||||||||||
Senior notes | 73.4 | % | 72.3 | % | 70.2 | % | |||||
Unsecured term loans | 3.7 | 1.8 | 1.8 | ||||||||
Mortgage loans and other(1) | 6.4 | 8.9 | 12.7 | ||||||||
Variable rate: | |||||||||||
Senior notes | — | 3.5 | — | ||||||||
Unsecured revolving credit facility | 7.1 | 4.7 | 1.3 | ||||||||
Unsecured term loans | 4.6 | 6.2 | 11.4 | ||||||||
Secured revolving construction credit facility | 0.8 | 0.0 | — | ||||||||
Mortgage loans and other(1) | 4.0 | 2.6 | 2.6 | ||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | |||||
Weighted average interest rate at end of period: | |||||||||||
Fixed rate: | |||||||||||
Senior notes | 3.8 | % | 3.7 | % | 3.6 | % | |||||
Unsecured term loans | 2.8 | 2.1 | 2.2 | ||||||||
Mortgage loans and other(1) | 4.4 | 5.2 | 5.6 | ||||||||
Variable rate: | |||||||||||
Senior notes | — | 2.3 | — | ||||||||
Unsecured revolving credit facility | 3.2 | 2.3 | 1.9 | ||||||||
Unsecured term loans | 3.3 | 2.3 | 1.7 | ||||||||
Secured revolving construction credit facility | 4.1 | 3.1 | — | ||||||||
Mortgage loans and other(1) | 3.4 | 2.9 | 2.1 | ||||||||
Total | 3.7 | 3.6 | 3.6 |
As of December 31, | |||||||||||
2021 | 2020 | ||||||||||
Gross book value | $ | 10,990,981 | $ | 10,458,262 | |||||||
Fair value | 11,766,336 | 11,550,236 | |||||||||
Fair value reflecting change in interest rates: | |||||||||||
-100 basis points | 12,437,306 | 12,204,507 | |||||||||
+100 basis points | 11,164,150 | 10,951,483 |
As of December 31, | |||||||
2018 | 2017 | ||||||
(In thousands) | |||||||
Gross book value | $ | 9,043,734 | $ | 9,428,886 | |||
Fair value(1) | 8,926,280 | 9,640,893 | |||||
Fair value reflecting change in interest rates(1): | |||||||
-100 basis points | 9,574,799 | 10,148,313 | |||||
+100 basis points | 8,568,149 | 9,184,409 |
As of December 31, | |||||||||||
2021 | 2020 | ||||||||||
Investment mix by asset type (1): | |||||||||||
Senior housing communities | 67.4 | % | 63.5 | % | |||||||
MOBs | 17.1 | 19.7 | |||||||||
Life science, research and innovation centers | 6.7 | 7.1 | |||||||||
Health systems | 5.0 | 5.2 | |||||||||
IRFs and LTACs | 1.5 | 1.7 | |||||||||
SNFs | 0.6 | 0.7 | |||||||||
Secured loans receivable and investments, net | 1.7 | 2.1 | |||||||||
Total | 100.0 | % | 100.0 | % | |||||||
Investment mix by tenant, operator and manager (1): | |||||||||||
Atria | 19.8 | % | 20.8 | % | |||||||
Sunrise | 10.0 | 10.4 | |||||||||
Brookdale Senior Living | 7.8 | 8.2 | |||||||||
Ardent | 4.7 | 4.9 | |||||||||
Kindred | 1.0 | 1.1 | |||||||||
All other | 56.7 | 54.6 | |||||||||
Total | 100.0 | % | 100.0 | % |
As of December 31, | |||||
2018 | 2017 | ||||
Investment mix by asset type(1): | |||||
Seniors housing communities | 61.6 | % | 60.3 | % | |
MOBs | 20.4 | 19.8 | |||
Research and innovation centers | 8.1 | 7.3 | |||
Health systems | 5.6 | 5.3 | |||
IRFs and LTACs | 1.7 | 1.7 | |||
SNFs | 0.8 | 0.7 | |||
Secured loans receivable and investments, net | 1.8 | 4.9 | |||
Investment mix by tenant, operator and manager(1): | |||||
Atria | 22.1 | % | 22.3 | % | |
Sunrise | 11.0 | 10.8 | |||
Brookdale Senior Living | 8.4 | 7.5 | |||
Ardent | 5.2 | 4.9 | |||
ESL | 3.9 | — | |||
Kindred | 1.1 | 1.1 | |||
All other | 48.3 | 53.4 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Operations mix by tenant and operator and business model: | |||||||||||||||||
Revenues (1): | |||||||||||||||||
Senior living operations | 59.4 | % | 58.0 | % | 55.8 | % | |||||||||||
Brookdale Senior Living (2) | 3.9 | 4.4 | 4.7 | ||||||||||||||
Ardent | 3.3 | 3.2 | 3.1 | ||||||||||||||
Kindred | 3.8 | 3.5 | 3.3 | ||||||||||||||
All others | 29.6 | 30.9 | 33.1 | ||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||||
NOI: | |||||||||||||||||
Senior living operations | 26.8 | % | 29.4 | % | 31.1 | % | |||||||||||
Brookdale Senior Living (2) | 8.6 | 9.0 | 8.7 | ||||||||||||||
Ardent | 7.4 | 6.6 | 5.8 | ||||||||||||||
Kindred | 7.8 | 7.1 | 6.3 | ||||||||||||||
All others | 49.4 | 47.9 | 48.1 | ||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||||
Operations mix by geographic location (3): | |||||||||||||||||
California | 15.0 | % | 15.7 | % | 15.9 | % | |||||||||||
New York | 7.6 | 8.1 | 8.8 | ||||||||||||||
Texas | 6.1 | 6.1 | 6.0 | ||||||||||||||
Pennsylvania | 4.6 | 4.6 | 4.7 | ||||||||||||||
North Carolina | 4.0 | 4.1 | 4.3 | ||||||||||||||
All others | 62.7 | 61.4 | 60.3 | ||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % |
For the Year Ended December 31, | ||||||||
2018 | 2017 | 2016 | ||||||
Operations mix by tenant and operator and business model: | ||||||||
Revenues(1): | ||||||||
Senior living operations | 55.3 | % | 51.6 | % | 53.6 | % | ||
Brookdale Senior Living(2) | 4.3 | 4.7 | 4.8 | |||||
Ardent | 3.1 | 3.1 | 3.1 | |||||
Kindred | 3.5 | 4.7 | 5.4 | |||||
All others | 33.8 | 35.9 | 33.1 | |||||
Adjusted EBITDA(3): | ||||||||
Senior living operations | 31.3 | % | 28.7 | % | 30.9 | % | ||
Brookdale Senior Living(2) | 6.7 | 7.6 | 7.9 | |||||
Ardent | 5.1 | 5.1 | 5.1 | |||||
Kindred | 5.6 | 7.7 | 8.9 | |||||
All others | 51.3 | 50.9 | 47.2 | |||||
NOI(4): | ||||||||
Senior living operations | 30.7 | % | 28.5 | % | 30.2 | % | ||
Brookdale Senior Living(2) | 7.6 | 8.0 | 8.3 | |||||
Ardent | 5.7 | 5.3 | 5.3 | |||||
Kindred | 6.4 | 8.1 | 9.2 | |||||
All others | 49.6 | 50.1 | 47.0 | |||||
Operations mix by geographic location(5): | ||||||||
California | 15.7 | % | 15.3 | % | 15.3 | % | ||
New York | 8.4 | 8.6 | 8.8 | |||||
Texas | 6.2 | 5.8 | 6.3 | |||||
Pennsylvania | 4.6 | 4.2 | 3.7 | |||||
Florida | 4.4 | 4.4 | 4.5 | |||||
All others | 60.7 | 61.7 | 61.4 |
Number of Properties(1) | 2021 Annualized Base Rent (“ABR”)(2) | % of 2021 Total Triple-Net Leased Properties Segment Rental Income | |||||||||||||||
2022 | 4 | $ | 5,844 | 0.9 | % | ||||||||||||
2023 (3) | 6 | 31,750 | 4.9 | ||||||||||||||
2024 | 26 | 14,484 | 2.2 | ||||||||||||||
2025 | 163 | 207,869 | 31.8 | ||||||||||||||
2026 | 36 | 44,045 | 6.7 | ||||||||||||||
2027 | 7 | 13,194 | 2.0 | ||||||||||||||
2028 | 27 | 29,109 | 4.5 | ||||||||||||||
2029 | 16 | 16,862 | 2.6 | ||||||||||||||
2030 | 6 | 4,891 | 0.7 | ||||||||||||||
2031 | 2 | 1,397 | 0.2 |
Number of Properties | 2018 Annual Rental Income | % of 2018 Total Triple-Net Leased Properties Segment Rental Income | |||||||
(Dollars in thousands) | |||||||||
2019 | — | $ | — | — | % | ||||
2020 | 1 | 4,317 | 0.6 | ||||||
2021 | 36 | 40,268 | 5.5 | ||||||
2022 | 9 | 9,435 | 1.3 | ||||||
2023 | 13 | 33,098 | 4.5 | ||||||
2024 | 32 | 21,982 | 3.0 | ||||||
2025 | 187 | 307,019 | 41.6 | ||||||
2026 | 34 | 40,716 | 5.5 | ||||||
2027 | 7 | 8,786 | 1.2 | ||||||
2028 | 62 | 99,654 | 13.5 |
For the Years Ended December 31, | (Decrease) Increase to Cash | ||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | (Decrease) Increase to Cash | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||
2018 | 2017 | $ | % | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | $ | 188,253 | $ | 367,354 | $ | (179,101 | ) | (48.8 | )% | ||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of year | Cash, cash equivalents and restricted cash at beginning of year | $ | 451,640 | $ | 146,102 | $ | 305,538 | nm | |||||||||||||||||||||||||||||
Net cash provided by operating activities | 1,381,467 | 1,428,752 | (47,285 | ) | (3.3 | ) | Net cash provided by operating activities | 1,026,116 | 1,450,176 | (424,060) | (29.2) | ||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 324,496 | (937,107 | ) | 1,261,603 | nm | ||||||||||||||||||||||||||||||||
Net cash (used in) provided by investing activities | Net cash (used in) provided by investing activities | (724,140) | 154,295 | (878,435) | nm | ||||||||||||||||||||||||||||||||
Net cash used in financing activities | (1,761,937 | ) | (671,327 | ) | (1,090,610 | ) | nm | Net cash used in financing activities | (558,466) | (1,300,021) | 741,555 | 57.0 | |||||||||||||||||||||||||
Effect of foreign currency translation | (815 | ) | 581 | (1,396 | ) | nm | Effect of foreign currency translation | 1,447 | 1,088 | 359 | 33.0 | ||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 131,464 | $ | 188,253 | (56,789 | ) | (30.2) | ||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of year | Cash, cash equivalents and restricted cash at end of year | $ | 196,597 | $ | 451,640 | $ | (255,043) | (56.5) |
Total | Less than 1 year(3) | 1 - 3 years(4) | 3 - 5 years(5) | More than 5 years(6) | |||||||||||||||
(In thousands) | |||||||||||||||||||
Long-term debt obligations (1) (2) | $ | 14,166,585 | $ | 807,856 | $ | 2,195,947 | $ | 3,651,262 | $ | 7,511,520 | |||||||||
Operating obligations, including ground lease obligations | 724,955 | 24,941 | 47,922 | 37,118 | 614,974 | ||||||||||||||
Total | $ | 14,891,540 | $ | 832,797 | $ | 2,243,869 | $ | 3,688,380 | $ | 8,126,494 |
As of December 31, 2021 | |||||||||||
Guarantor | Issuer | ||||||||||
Assets | |||||||||||
Investment in and advances to affiliates | $ | 17,448,874 | $ | 3,045,738 | |||||||
Total assets | 17,561,305 | 3,156,840 | |||||||||
Liabilities and equity | |||||||||||
Intercompany loans | 10,742,915 | (3,563,060) | |||||||||
Total liabilities | 10,972,521 | 4,097,362 | |||||||||
Redeemable OP unitholder and noncontrolling interests | 98,356 | — | |||||||||
Total equity (deficit) | 6,490,428 | (940,522) | |||||||||
Total liabilities and equity | 17,561,305 | 3,156,840 |
As of December 31, 2020 | |||||||||||
Guarantor | Issuer | ||||||||||
Assets | |||||||||||
Investment in and advances to affiliates | $ | 16,576,278 | $ | 2,727,931 | |||||||
Total assets | 16,937,149 | 2,844,339 | |||||||||
Liabilities and equity | |||||||||||
Intercompany loans | 10,691,626 | (4,532,350) | |||||||||
Total liabilities | 10,918,320 | 3,577,009 | |||||||||
Redeemable OP unitholder and noncontrolling interests | 89,669 | — | |||||||||
Total equity (deficit) | 5,929,161 | (732,670) | |||||||||
Total liabilities and equity | 16,937,149 | 2,844,339 |
For the Year Ended December 31, 2021 | |||||||||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||||
Equity earnings in affiliates | $ | 133,143 | $ | — | |||||||||||||||||||
Total revenues | 137,348 | 158,255 | |||||||||||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | 49,694 | (215,773) | |||||||||||||||||||||
Net income (loss) | 49,008 | (215,777) | |||||||||||||||||||||
Net income (loss) attributable to common stockholders | 49,008 | (215,777) |
For the Year Ended December 31, 2020 | |||||||||||||||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||||||||||
Equity earnings in affiliates | $ | 469,311 | $ | — | |||||||||||||||||||||||||
Total revenues | 474,392 | 143,259 | |||||||||||||||||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | 440,210 | (215,406) | |||||||||||||||||||||||||||
Net income (loss) | 439,149 | (202,845) | |||||||||||||||||||||||||||
Net income (loss) attributable to common stockholders | 439,149 | (202,845) |
For the Year Ended December 31, 2019 | |||||||||||||||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||||||||||
Equity earnings in affiliates | $ | 362,143 | $ | — | |||||||||||||||||||||||||
Total revenues | 366,243 | 142,754 | |||||||||||||||||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | 432,020 | (246,929) | |||||||||||||||||||||||||||
Net income (loss) | 433,016 | (246,841) | |||||||||||||||||||||||||||
Net income (loss) attributable to common stockholders | 433,016 | (246,841) |
Report of Independent Registered Public Accounting Firm (KPMG LLP, Chicago, IL, Auditor Firm ID: 185) | |||||
Consolidated Balance Sheets as of December 31, | |||||
Consolidated Statements of Income for the Years Ended December 31, | |||||
Consolidated Statements of Comprehensive Income for the Years Ended December 31, | |||||
Consolidated Statements of Equity for the Years Ended December 31, | |||||
Consolidated Statements of Cash Flows for the Years Ended December 31, | |||||
Schedule III — Real Estate and Accumulated Depreciation | |||||
As of December 31, | |||||||||||
2021 | 2020 | ||||||||||
Assets | |||||||||||
Real estate investments: | |||||||||||
Land and improvements | $ | 2,432,065 | $ | 2,261,415 | |||||||
Buildings and improvements | 25,778,490 | 24,323,279 | |||||||||
Construction in progress | 269,315 | 265,748 | |||||||||
Acquired lease intangibles | 1,369,747 | 1,230,886 | |||||||||
Operating lease assets | 317,858 | 346,372 | |||||||||
30,167,475 | 28,427,700 | ||||||||||
Accumulated depreciation and amortization | (8,350,637) | (7,877,665) | |||||||||
Net real estate property | 21,816,838 | 20,550,035 | |||||||||
Secured loans receivable and investments, net | 530,126 | 605,567 | |||||||||
Investments in unconsolidated real estate entities | 523,465 | 443,688 | |||||||||
Net real estate investments | 22,870,429 | 21,599,290 | |||||||||
Cash and cash equivalents | 149,725 | 413,327 | |||||||||
Escrow deposits and restricted cash | 46,872 | 38,313 | |||||||||
Goodwill | 1,046,140 | 1,051,650 | |||||||||
Assets held for sale | 28,399 | 9,608 | |||||||||
Deferred income tax assets, net | 11,152 | 9,987 | |||||||||
Other assets | 565,069 | 807,229 | |||||||||
Total assets | $ | 24,717,786 | $ | 23,929,404 | |||||||
Liabilities and equity | |||||||||||
Liabilities: | |||||||||||
Senior notes payable and other debt | $ | 12,027,544 | $ | 11,895,412 | |||||||
Accrued interest | 106,602 | 111,444 | |||||||||
Operating lease liabilities | 197,234 | 209,917 | |||||||||
Accounts payable and other liabilities | 1,090,254 | 1,133,066 | |||||||||
Liabilities related to assets held for sale | 10,850 | 3,246 | |||||||||
Deferred income tax liabilities | 59,259 | 62,638 | |||||||||
Total liabilities | 13,491,743 | 13,415,723 | |||||||||
Redeemable OP unitholder and noncontrolling interests | 280,283 | 235,490 | |||||||||
Commitments and contingencies | 0 | 0 | |||||||||
Equity: | |||||||||||
Ventas stockholders’ equity: | |||||||||||
Preferred stock, $1.00 par value; 10,000 shares authorized, unissued | — | — | |||||||||
Common stock, $0.25 par value; 600,000 shares authorized, 399,420 and 374,609 shares issued at December 31, 2021 and 2020, respectively | 99,838 | 93,635 | |||||||||
Capital in excess of par value | 15,498,956 | 14,171,262 | |||||||||
Accumulated other comprehensive loss | (64,520) | (54,354) | |||||||||
Retained earnings (deficit) | (4,679,889) | (4,030,376) | |||||||||
Treasury stock, 0 shares at both December 31, 2021 and 2020 | — | — | |||||||||
Total Ventas stockholders’ equity | 10,854,385 | 10,180,167 | |||||||||
Noncontrolling interests | 91,375 | 98,024 | |||||||||
Total equity | 10,945,760 | 10,278,191 | |||||||||
Total liabilities and equity | $ | 24,717,786 | $ | 23,929,404 |
As of December 31, | |||||||
2018 | 2017 | ||||||
(In thousands, except per share amounts) | |||||||
Assets | |||||||
Real estate investments: | |||||||
Land and improvements | $ | 2,114,406 | $ | 2,151,386 | |||
Buildings and improvements | 22,437,243 | 22,216,942 | |||||
Construction in progress | 422,334 | 344,151 | |||||
Acquired lease intangibles | 1,502,955 | 1,548,074 | |||||
26,476,938 | 26,260,553 | ||||||
Accumulated depreciation and amortization | (6,383,281 | ) | (5,638,099 | ) | |||
Net real estate property | 20,093,657 | 20,622,454 | |||||
Secured loans receivable and investments, net | 495,869 | 1,346,359 | |||||
Investments in unconsolidated real estate entities | 48,378 | 123,639 | |||||
Net real estate investments | 20,637,904 | 22,092,452 | |||||
Cash and cash equivalents | 72,277 | 81,355 | |||||
Escrow deposits and restricted cash | 59,187 | 106,898 | |||||
Goodwill | 1,050,548 | 1,034,644 | |||||
Assets held for sale | 5,454 | 65,413 | |||||
Other assets | 759,185 | 573,779 | |||||
Total assets | $ | 22,584,555 | $ | 23,954,541 | |||
Liabilities and equity | |||||||
Liabilities: | |||||||
Senior notes payable and other debt | $ | 10,733,699 | $ | 11,276,062 | |||
Accrued interest | 99,667 | 93,958 | |||||
Accounts payable and other liabilities | 1,086,030 | 1,183,489 | |||||
Liabilities related to assets held for sale | 205 | 60,265 | |||||
Deferred income taxes | 205,219 | 250,092 | |||||
Total liabilities | 12,124,820 | 12,863,866 | |||||
Redeemable OP Unitholder and noncontrolling interests | 188,141 | 158,490 | |||||
Commitments and contingencies | |||||||
Equity: | |||||||
Ventas stockholders’ equity: | |||||||
Preferred stock, $1.00 par value; 10,000 shares authorized, unissued | — | — | |||||
Common stock, $0.25 par value; 600,000 shares authorized, 356,572 and 356,187 shares issued at December 31, 2018 and 2017, respectively | 89,125 | 89,029 | |||||
Capital in excess of par value | 13,076,528 | 13,053,057 | |||||
Accumulated other comprehensive loss | (19,582 | ) | (35,120 | ) | |||
Retained earnings (deficit) | (2,930,214 | ) | (2,240,698 | ) | |||
Treasury stock, 0 and 1 shares at December 31, 2018 and 2017, respectively | — | (42 | ) | ||||
Total Ventas stockholders’ equity | 10,215,857 | 10,866,226 | |||||
Noncontrolling interests | 55,737 | 65,959 | |||||
Total equity | 10,271,594 | 10,932,185 | |||||
Total liabilities and equity | $ | 22,584,555 | $ | 23,954,541 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands, except per share amounts) | |||||||||||
Revenues | |||||||||||
Rental income: | |||||||||||
Triple-net leased | $ | 737,796 | $ | 840,131 | $ | 845,834 | |||||
Office | 776,011 | 753,467 | 630,342 | ||||||||
1,513,807 | 1,593,598 | 1,476,176 | |||||||||
Resident fees and services | 2,069,477 | 1,843,232 | 1,847,306 | ||||||||
Office building and other services revenue | 13,416 | 13,677 | 21,070 | ||||||||
Income from loans and investments | 124,218 | 117,608 | 98,094 | ||||||||
Interest and other income | 24,892 | 6,034 | 876 | ||||||||
Total revenues | 3,745,810 | 3,574,149 | 3,443,522 | ||||||||
Expenses | |||||||||||
Interest | 442,497 | 448,196 | 419,740 | ||||||||
Depreciation and amortization | 919,639 | 887,948 | 898,924 | ||||||||
Property-level operating expenses: | |||||||||||
Senior living | 1,446,201 | 1,250,065 | 1,242,978 | ||||||||
Office | 243,679 | 233,007 | 191,784 | ||||||||
1,689,880 | 1,483,072 | 1,434,762 | |||||||||
Office building services costs | 1,418 | 3,391 | 7,311 | ||||||||
General, administrative and professional fees | 151,982 | 135,490 | 126,875 | ||||||||
Loss on extinguishment of debt, net | 58,254 | 754 | 2,779 | ||||||||
Merger-related expenses and deal costs | 30,547 | 10,535 | 24,635 | ||||||||
Other | 66,768 | 20,052 | 9,988 | ||||||||
Total expenses | 3,360,985 | 2,989,438 | 2,925,014 | ||||||||
Income before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interests | 384,825 | 584,711 | 518,508 | ||||||||
(Loss) income from unconsolidated entities | (55,034 | ) | (561 | ) | 4,358 | ||||||
Gain on real estate dispositions | 46,247 | 717,273 | 98,203 | ||||||||
Income tax benefit | 39,953 | 59,799 | 31,343 | ||||||||
Income from continuing operations | 415,991 | 1,361,222 | 652,412 | ||||||||
Discontinued operations | (10 | ) | (110 | ) | (922 | ) | |||||
Net income | 415,981 | 1,361,112 | 651,490 | ||||||||
Net income attributable to noncontrolling interests | 6,514 | 4,642 | 2,259 | ||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | $ | 649,231 | |||||
Earnings per common share | |||||||||||
Basic: | |||||||||||
Income from continuing operations | $ | 1.17 | $ | 3.83 | $ | 1.89 | |||||
Net income attributable to common stockholders | 1.15 | 3.82 | 1.88 | ||||||||
Diluted: | |||||||||||
Income from continuing operations | $ | 1.16 | $ | 3.80 | $ | 1.87 | |||||
Net income attributable to common stockholders | 1.14 | 3.78 | 1.86 | ||||||||
Weighted average shares used in computing earnings per common share: | |||||||||||
Basic | 356,265 | 355,326 | 344,703 | ||||||||
Diluted | 359,301 | 358,566 | 348,390 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Revenues | |||||||||||||||||
Rental income: | |||||||||||||||||
Triple-net leased | $ | 653,823 | $ | 695,265 | $ | 780,898 | |||||||||||
Office | 794,297 | 799,627 | 828,978 | ||||||||||||||
1,448,120 | 1,494,892 | 1,609,876 | |||||||||||||||
Resident fees and services | 2,270,001 | 2,197,160 | 2,151,533 | ||||||||||||||
Office building and other services revenue | 20,096 | 15,191 | 11,156 | ||||||||||||||
Income from loans and investments | 74,981 | 80,505 | 89,201 | ||||||||||||||
Interest and other income | 14,809 | 7,609 | 10,984 | ||||||||||||||
Total revenues | 3,828,007 | 3,795,357 | 3,872,750 | ||||||||||||||
Expenses | |||||||||||||||||
Interest | 440,089 | 469,541 | 451,662 | ||||||||||||||
Depreciation and amortization | 1,197,403 | 1,109,763 | 1,045,620 | ||||||||||||||
Property-level operating expenses: | |||||||||||||||||
Senior living | 1,811,728 | 1,658,671 | 1,521,398 | ||||||||||||||
Office | 257,001 | 256,612 | 260,249 | ||||||||||||||
Triple-net leased | 15,335 | 22,160 | 26,561 | ||||||||||||||
2,084,064 | 1,937,443 | 1,808,208 | |||||||||||||||
Office building and other services costs | 4,433 | 2,315 | 2,319 | ||||||||||||||
General, administrative and professional fees | 129,758 | 130,158 | 158,726 | ||||||||||||||
Loss on extinguishment of debt, net | 59,299 | 10,791 | 41,900 | ||||||||||||||
Transaction expenses and deal costs | 47,318 | 29,812 | 15,235 | ||||||||||||||
Allowance on loans receivable and investments | (9,082) | 24,238 | — | ||||||||||||||
Other | 37,110 | 707 | (10,339) | ||||||||||||||
Total expenses | 3,990,392 | 3,714,768 | 3,513,331 | ||||||||||||||
(Loss) income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | (162,385) | 80,589 | 359,419 | ||||||||||||||
Income (loss) from unconsolidated entities | 4,983 | 1,844 | (2,454) | ||||||||||||||
Gain on real estate dispositions | 218,788 | 262,218 | 26,022 | ||||||||||||||
Income tax (expense) benefit | (4,827) | 96,534 | 56,310 | ||||||||||||||
Income from continuing operations | 56,559 | 441,185 | 439,297 | ||||||||||||||
Net income | 56,559 | 441,185 | 439,297 | ||||||||||||||
Net income attributable to noncontrolling interests | 7,551 | 2,036 | 6,281 | ||||||||||||||
Net income attributable to common stockholders | $ | 49,008 | $ | 439,149 | $ | 433,016 | |||||||||||
Earnings per common share | |||||||||||||||||
Basic: | |||||||||||||||||
Income from continuing operations | $ | 0.15 | $ | 1.18 | $ | 1.20 | |||||||||||
Net income attributable to common stockholders | 0.13 | 1.18 | 1.18 | ||||||||||||||
Diluted: | |||||||||||||||||
Income from continuing operations | $ | 0.15 | $ | 1.17 | $ | 1.19 | |||||||||||
Net income attributable to common stockholders | 0.13 | 1.17 | 1.17 |
For the Years Ended December 31, | ||||||||||||||||||||||||||||||
2018 | 2017 | 2016 | For the Years Ended December 31, | |||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||||
Net income | $ | 415,981 | $ | 1,361,112 | $ | 651,490 | Net income | $ | 56,559 | $ | 441,185 | $ | 439,297 | |||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||||||||
Other comprehensive loss: | Other comprehensive loss: | |||||||||||||||||||||||||||||
Foreign currency translation | (9,436 | ) | 20,612 | (52,266 | ) | Foreign currency translation | (3,357) | 3,254 | 5,729 | |||||||||||||||||||||
Unrealized gain (loss) on marketable debt securities | 14,944 | (437 | ) | (310 | ) | |||||||||||||||||||||||||
Unrealized (loss) gain on available for sale securities | Unrealized (loss) gain on available for sale securities | (23,875) | (3,549) | 11,634 | ||||||||||||||||||||||||||
Derivative instruments | 10,030 | 2,239 | 2,607 | Derivative instruments | 19,934 | (17,918) | (30,814) | |||||||||||||||||||||||
Total other comprehensive income (loss) | 15,538 | 22,414 | (49,969 | ) | ||||||||||||||||||||||||||
Total other comprehensive loss | Total other comprehensive loss | (7,298) | (18,213) | (13,451) | ||||||||||||||||||||||||||
Comprehensive income | 431,519 | 1,383,526 | 601,521 | Comprehensive income | 49,261 | 422,972 | 425,846 | |||||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 6,514 | — | 4,642 | — | 2,259 | Comprehensive income attributable to noncontrolling interests | 10,418 | 3,613 | 7,649 | |||||||||||||||||||||
Comprehensive income attributable to common stockholders | $ | 425,005 | $ | 1,378,884 | $ | 599,262 | Comprehensive income attributable to common stockholders | $ | 38,843 | $ | 419,359 | $ | 418,197 |
Common Stock Par Value | Capital in Excess of Par Value | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Treasury Stock | Total Ventas Stockholders’ Equity | Non- controlling Interests | Total Equity | ||||||||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||
Balance at January 1, 2016 | $ | 83,579 | $ | 11,602,838 | $ | (7,565 | ) | $ | (2,111,958 | ) | $ | (2,567 | ) | $ | 9,564,327 | $ | 61,100 | $ | 9,625,427 | ||||||||||||||||
Net income | — | — | — | 649,231 | — | 649,231 | 2,259 | 651,490 | |||||||||||||||||||||||||||
Other comprehensive loss | — | — | (49,969 | ) | — | — | (49,969 | ) | — | (49,969 | ) | ||||||||||||||||||||||||
Impact of CCP Spin-Off | — | 640 | — | — | — | 640 | — | 640 | |||||||||||||||||||||||||||
Net change in noncontrolling interests | — | (2,179 | ) | — | — | — | (2,179 | ) | 19,008 | 16,829 | |||||||||||||||||||||||||
Dividends to common stockholders—$2.965 per share | — | — | — | (1,024,968 | ) | — | (1,024,968 | ) | — | (1,024,968 | ) | ||||||||||||||||||||||||
Issuance of common stock | 4,716 | 1,281,947 | — | — | 17 | 1,286,680 | — | 1,286,680 | |||||||||||||||||||||||||||
Issuance of common stock for stock plans | 99 | 26,594 | — | — | 2,572 | 29,265 | — | 29,265 | |||||||||||||||||||||||||||
Change in redeemable noncontrolling interests | — | (1,714 | ) | — | — | — | (1,714 | ) | (13,854 | ) | (15,568 | ) | |||||||||||||||||||||||
Adjust redeemable OP Unitholder Interests to current fair value | — | (21,085 | ) | — | — | — | (21,085 | ) | — | (21,085 | ) | ||||||||||||||||||||||||
Redemption of OP and Class C Units | 92 | 22,622 | — | — | 1,098 | 23,812 | — | 23,812 | |||||||||||||||||||||||||||
Grant of restricted stock, net of forfeitures | 28 | 7,339 | — | — | (1,167 | ) | 6,200 | — | 6,200 | ||||||||||||||||||||||||||
Balance at December 31, 2016 | 88,514 | 12,917,002 | (57,534 | ) | (2,487,695 | ) | (47 | ) | 10,460,240 | 68,513 | 10,528,753 | ||||||||||||||||||||||||
Net income | — | — | — | 1,356,470 | — | 1,356,470 | 4,642 | 1,361,112 | |||||||||||||||||||||||||||
Other comprehensive income | — | — | 22,414 | — | — | 22,414 | — | 22,414 | |||||||||||||||||||||||||||
Impact of CCP Spin-Off | — | 107 | — | — | — | 107 | — | 107 | |||||||||||||||||||||||||||
Net change in noncontrolling interests | — | (1,427 | ) | — | — | — | (1,427 | ) | (13,292 | ) | (14,719 | ) | |||||||||||||||||||||||
Dividends to common stockholders—$3.115 per share | — | — | — | (1,109,473 | ) | — | (1,109,473 | ) | — | (1,109,473 | ) | ||||||||||||||||||||||||
Issuance of common stock | 276 | 72,618 | — | — | 553 | 73,447 | — | 73,447 | |||||||||||||||||||||||||||
Issuance of common stock for stock plans | 87 | 21,723 | — | — | 796 | 22,606 | — | 22,606 | |||||||||||||||||||||||||||
Change in redeemable noncontrolling interests | — | (850 | ) | — | — | — | (850 | ) | 6,096 | 5,246 | |||||||||||||||||||||||||
Adjust redeemable OP Unitholder Interests to current fair value | — | 253 | — | — | — | 253 | — | 253 | |||||||||||||||||||||||||||
Redemption of OP and Class C Units | 84 | 19,845 | — | — | 3,207 | 23,136 | — | 23,136 | |||||||||||||||||||||||||||
Grant of restricted stock, net of forfeitures | 68 | 23,786 | — | — | (4,551 | ) | 19,303 | — | 19,303 | ||||||||||||||||||||||||||
Balance at December 31, 2017 | 89,029 | 13,053,057 | (35,120 | ) | (2,240,698 | ) | (42 | ) | 10,866,226 | 65,959 | 10,932,185 | ||||||||||||||||||||||||
Net income | — | — | — | 409,467 | — | 409,467 | 6,514 | 415,981 | |||||||||||||||||||||||||||
Other comprehensive income | — | — | 15,538 | — | — | 15,538 | — | 15,538 | |||||||||||||||||||||||||||
Net change in noncontrolling interests | — | (7,470 | ) | — | — | — | (7,470 | ) | (16,736 | ) | (24,206 | ) | |||||||||||||||||||||||
Dividends to common stockholders—$3.1625 per share | — | — | — | (1,129,626 | ) | — | (1,129,626 | ) | — | (1,129,626 | ) | ||||||||||||||||||||||||
Issuance of common stock for stock plans and other | 49 | — | 11,542 | — | — | — | — | — | 1,318 | 12,909 | — | 12,909 | |||||||||||||||||||||||
Adjust redeemable OP Unitholder Interests to current fair value | — | (3,323 | ) | — | — | — | (3,323 | ) | — | (3,323 | ) | ||||||||||||||||||||||||
Redemption of OP Units | 3 | (383 | ) | — | — | 252 | (128 | ) | — | (128 | ) | ||||||||||||||||||||||||
Grant of restricted stock, net of forfeitures | 44 | 23,105 | — | — | (1,528 | ) | 21,621 | — | 21,621 | ||||||||||||||||||||||||||
Cumulative effect of change in accounting principles | — | — | — | 30,643 | — | 30,643 | — | 30,643 | |||||||||||||||||||||||||||
Balance at December 31, 2018 | $ | 89,125 | $ | 13,076,528 | $ | (19,582 | ) | $ | (2,930,214 | ) | $ | — | $ | 10,215,857 | $ | 55,737 | $ | 10,271,594 |
Common Stock Par Value | Capital in Excess of Par Value | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Treasury Stock | Total Ventas Stockholders’ Equity | Non- controlling Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2019 | $ | 89,125 | $ | 13,076,528 | $ | (19,582) | $ | (2,930,214) | $ | — | $ | 10,215,857 | $ | 55,737 | $ | 10,271,594 | |||||||||||||||||||||||||||||||
Net income | — | — | — | 433,016 | — | 433,016 | 6,281 | 439,297 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive (loss) income | — | — | (14,819) | — | — | (14,819) | 1,368 | (13,451) | |||||||||||||||||||||||||||||||||||||||
Net change in noncontrolling interests | — | (12,332) | — | — | — | (12,332) | 36,174 | 23,842 | |||||||||||||||||||||||||||||||||||||||
Dividends to common stockholders—$3.17 per share | — | — | — | (1,172,653) | — | (1,172,653) | — | (1,172,653) | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 3,829 | 938,509 | — | — | — | 942,338 | — | 942,338 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock for stock plans, restricted stock grants and other | 230 | 61,875 | — | — | (132) | 61,973 | — | 61,973 | |||||||||||||||||||||||||||||||||||||||
Adjust redeemable OP unitholder interests to current fair value | — | (7,388) | — | — | — | (7,388) | — | (7,388) | |||||||||||||||||||||||||||||||||||||||
Redemption of OP Units | 1 | (739) | — | — | — | (738) | — | (738) | |||||||||||||||||||||||||||||||||||||||
Cumulative effect of change in accounting principles | — | — | (163) | 801 | — | 638 | — | 638 | |||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2019 | 93,185 | 14,056,453 | (34,564) | (3,669,050) | (132) | 10,445,892 | 99,560 | 10,545,452 | |||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 439,149 | — | 439,149 | 2,036 | 441,185 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive (loss) income | — | — | (19,790) | — | — | (19,790) | 1,577 | (18,213) | |||||||||||||||||||||||||||||||||||||||
Net change in noncontrolling interests | — | 8,227 | — | — | — | 8,227 | (5,149) | 3,078 | |||||||||||||||||||||||||||||||||||||||
Dividends to common stockholders—$2.1425 per share | — | — | — | (800,475) | — | (800,475) | — | (800,475) | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 371 | 65,640 | — | — | — | 66,011 | — | 66,011 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock for stock plans, restricted stock grants and other | 79 | 22,568 | — | — | 132 | 22,779 | — | 22,779 | |||||||||||||||||||||||||||||||||||||||
Adjust redeemable OP unitholder interests to current fair value | — | 18,638 | — | — | — | 18,638 | — | 18,638 | |||||||||||||||||||||||||||||||||||||||
Redemption of OP Units | — | (264) | — | — | — | (264) | — | (264) | |||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2020 | 93,635 | 14,171,262 | (54,354) | (4,030,376) | — | 10,180,167 | 98,024 | 10,278,191 | |||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 49,008 | — | 49,008 | 7,551 | 56,559 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive (loss) income | — | — | (10,166) | — | — | (10,166) | 2,868 | (7,298) | |||||||||||||||||||||||||||||||||||||||
Acquisition-related activity | 3,332 | 747,916 | 751,248 | — | 751,248 | ||||||||||||||||||||||||||||||||||||||||||
Net change in noncontrolling interests | — | (58,925) | — | — | — | (58,925) | (17,068) | (75,993) | |||||||||||||||||||||||||||||||||||||||
Dividends to common stockholders—$1.80 per share | — | — | — | (698,521) | — | (698,521) | — | (698,521) | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock for stock plans, restricted stock grants and other | 2,871 | 649,941 | — | — | (76) | 652,736 | — | 652,736 | |||||||||||||||||||||||||||||||||||||||
Adjust redeemable OP unitholder interests to current fair value | — | (11,178) | — | — | — | (11,178) | — | (11,178) | |||||||||||||||||||||||||||||||||||||||
Redemption of OP Units | — | (60) | — | — | 76 | 16 | — | 16 | |||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2021 | $ | 99,838 | $ | 15,498,956 | $ | (64,520) | $ | (4,679,889) | $ | — | $ | 10,854,385 | $ | 91,375 | $ | 10,945,760 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 56,559 | $ | 441,185 | $ | 439,297 | |||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||
Depreciation and amortization | 1,197,403 | 1,109,763 | 1,045,620 | ||||||||||||||
Amortization of deferred revenue and lease intangibles, net | (88,795) | (40,856) | (7,967) | ||||||||||||||
Other non-cash amortization | 17,709 | 20,719 | 22,985 | ||||||||||||||
Allowance on loans receivable and investments | (9,082) | 24,238 | — | ||||||||||||||
Stock-based compensation | 31,966 | 21,487 | 33,923 | ||||||||||||||
Straight-lining of rental income | (14,468) | 103,082 | (30,073) | ||||||||||||||
Loss on extinguishment of debt, net | 59,299 | 10,791 | 41,900 | ||||||||||||||
Gain on real estate dispositions | (218,788) | (262,218) | (26,022) | ||||||||||||||
Gain on real estate loan investments | (1,448) | (167) | — | ||||||||||||||
Income tax benefit | (1,224) | (101,985) | (58,918) | ||||||||||||||
(Income) loss from unconsolidated entities | (4,973) | (1,832) | 2,464 | ||||||||||||||
Distributions from unconsolidated entities | 19,326 | 4,920 | 1,600 | ||||||||||||||
Other | 26,404 | (779) | 13,264 | ||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||
Increase in other assets | (54,571) | (68,233) | (76,693) | ||||||||||||||
(Decrease) increase in accrued interest | (5,922) | 276 | 9,737 | ||||||||||||||
Increase in accounts payable and other liabilities | 16,721 | 189,785 | 26,666 | ||||||||||||||
Net cash provided by operating activities | 1,026,116 | 1,450,176 | 1,437,783 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Net investment in real estate property | (1,369,052) | (78,648) | (958,125) | ||||||||||||||
Investment in loans receivable | (489) | (115,163) | (1,258,187) | ||||||||||||||
Proceeds from real estate disposals | 840,438 | 1,044,357 | 147,855 | ||||||||||||||
Proceeds from loans receivable | 348,091 | 119,011 | 1,017,309 | ||||||||||||||
Development project expenditures | (247,694) | (380,413) | (403,923) | ||||||||||||||
Capital expenditures | (185,275) | (148,234) | (156,724) | ||||||||||||||
Distributions from unconsolidated entities | 17,847 | — | 172 | ||||||||||||||
Investment in unconsolidated entities | (129,291) | (286,822) | (3,855) | ||||||||||||||
Insurance proceeds for property damage claims | 1,285 | 207 | 30,179 | ||||||||||||||
Net cash (used in) provided by investing activities | (724,140) | 154,295 | (1,585,299) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||
Net change in borrowings under revolving credit facilities | (125,399) | (88,868) | (569,891) | ||||||||||||||
Net change in borrowings under commercial paper program | 279,929 | (565,524) | 565,524 | ||||||||||||||
Proceeds from debt | 1,534,298 | 733,298 | 3,013,191 | ||||||||||||||
Repayments of debt | (2,109,617) | (479,539) | (2,623,916) | ||||||||||||||
Purchase of noncontrolling interests | (24,224) | (8,239) | — | ||||||||||||||
Payment of deferred financing costs | (27,166) | (8,379) | (21,403) | ||||||||||||||
Issuance of common stock, net | 617,438 | 55,362 | 942,085 | ||||||||||||||
Cash distribution to common stockholders | (686,888) | (928,809) | (1,157,720) | ||||||||||||||
Cash distribution to redeemable OP unitholders | (6,761) | (7,283) | (9,218) | ||||||||||||||
Cash issued for redemption of OP Units | (96) | (575) | (2,203) | ||||||||||||||
Contributions from noncontrolling interests | 1,731 | 1,314 | 6,282 | ||||||||||||||
Distributions to noncontrolling interests | (13,577) | (12,946) | (9,717) | ||||||||||||||
Proceeds from stock option exercises | 8,169 | 15,103 | 36,179 | ||||||||||||||
Other | (6,303) | (4,936) | (8,519) | ||||||||||||||
Net cash (used in) provided by financing activities | (558,466) | (1,300,021) | 160,674 | ||||||||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (256,490) | 304,450 | 13,158 | ||||||||||||||
Effect of foreign currency translation | 1,447 | 1,088 | 1,480 | ||||||||||||||
Cash, cash equivalents and restricted cash at beginning of year | 451,640 | 146,102 | 131,464 | ||||||||||||||
Cash, cash equivalents and restricted cash at end of year | $ | 196,597 | $ | 451,640 | $ | 146,102 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 415,981 | $ | 1,361,112 | $ | 651,490 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 919,639 | 887,948 | 898,924 | ||||||||
Amortization of deferred revenue and lease intangibles, net | (30,660 | ) | (20,537 | ) | (20,336 | ) | |||||
Other non-cash amortization | 18,886 | 16,058 | 10,357 | ||||||||
Stock-based compensation | 29,963 | 26,543 | 20,958 | ||||||||
Straight-lining of rental income, net | 13,396 | (23,134 | ) | (27,988 | ) | ||||||
Loss on extinguishment of debt, net | 58,254 | 754 | 2,779 | ||||||||
Gain on real estate dispositions | (46,247 | ) | (717,273 | ) | (98,203 | ) | |||||
Gain on real estate loan investments | (13,202 | ) | (124 | ) | (2,271 | ) | |||||
Income tax benefit | (43,026 | ) | (63,599 | ) | (34,227 | ) | |||||
Loss (income) from unconsolidated entities | 55,034 | 3,588 | (4,358 | ) | |||||||
Gain on re-measurement of equity interest upon acquisition, net | — | (3,027 | ) | — | |||||||
Distributions from unconsolidated entities | 2,934 | 4,676 | 7,598 | ||||||||
Real estate impairments related to natural disasters | 52,510 | 4,616 | — | ||||||||
Other | 3,720 | 4,624 | (1,847 | ) | |||||||
Changes in operating assets and liabilities: | |||||||||||
Increase in other assets | (23,198 | ) | (29,282 | ) | (12,079 | ) | |||||
Increase in accrued interest | 4,992 | 11,068 | 2,604 | ||||||||
Decrease in accounts payable and other liabilities | (37,509 | ) | (35,259 | ) | (38,699 | ) | |||||
Net cash provided by operating activities | 1,381,467 | 1,428,752 | 1,354,702 | ||||||||
Cash flows from investing activities: | |||||||||||
Net investment in real estate property | (265,907 | ) | (664,684 | ) | (1,413,595 | ) | |||||
Investment in loans receivable | (229,534 | ) | (748,119 | ) | (158,635 | ) | |||||
Proceeds from real estate disposals | 353,792 | 859,874 | 300,561 | ||||||||
Proceeds from loans receivable | 911,540 | 101,097 | 320,082 | ||||||||
Development project expenditures | (330,876 | ) | (299,085 | ) | (143,647 | ) | |||||
Capital expenditures | (131,858 | ) | (132,558 | ) | (117,456 | ) | |||||
Distributions from unconsolidated entities | 57,455 | 6,169 | — | ||||||||
Investment in unconsolidated entities | (47,007 | ) | (61,220 | ) | (6,436 | ) | |||||
Insurance proceeds for property damage claims | 6,891 | 1,419 | 4,846 | ||||||||
Net cash provided by (used in) investing activities | 324,496 | (937,107 | ) | (1,214,280 | ) | ||||||
Cash flows from financing activities: | |||||||||||
Net change in borrowings under revolving credit facilities | 321,463 | 384,783 | (35,637 | ) | |||||||
Proceeds from debt | 2,549,473 | 1,111,649 | 893,218 | ||||||||
Repayment of debt | (3,465,579 | ) | (1,369,084 | ) | (1,022,113 | ) | |||||
Purchase of noncontrolling interests | (4,724 | ) | (15,809 | ) | (2,846 | ) | |||||
Payment of deferred financing costs | (20,612 | ) | (27,297 | ) | (6,555 | ) | |||||
Issuance of common stock, net | — | 73,596 | 1,286,680 | ||||||||
Cash distribution to common stockholders | (1,127,143 | ) | (827,285 | ) | (1,024,968 | ) | |||||
Cash distribution to redeemable OP Unitholders | (7,459 | ) | (5,677 | ) | (8,640 | ) | |||||
Cash issued for redemption of OP and Class C Units | (1,370 | ) | — | — | |||||||
Contributions from noncontrolling interests | 1,883 | 4,402 | 7,326 | ||||||||
Distributions to noncontrolling interests | (11,574 | ) | (11,187 | ) | (6,879 | ) | |||||
Other | 3,705 | 10,582 | 17,252 | ||||||||
Net cash (used in) provided by financing activities | (1,761,937 | ) | (671,327 | ) | 96,838 | ||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (55,974 | ) | (179,682 | ) | 237,260 | ||||||
Effect of foreign currency translation | (815 | ) | 581 | (825 | ) | ||||||
Cash, cash equivalents and restricted cash at beginning of period | 188,253 | 367,354 | 130,919 | ||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 131,464 | $ | 188,253 | $ | 367,354 |
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2018 | 2017 | 2016 | For the Years Ended December 31, | |||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||
Supplemental disclosure of cash flow information: | Supplemental disclosure of cash flow information: | |||||||||||||||||||||||||||
Interest paid including swap payments and receipts | $ | 406,907 | $ | 409,890 | $ | 395,138 | ||||||||||||||||||||||
Interest paid including payments and receipts for derivative instruments | Interest paid including payments and receipts for derivative instruments | $ | 402,025 | $ | 429,636 | $ | 410,854 | |||||||||||||||||||||
Supplemental schedule of non-cash activities: | Supplemental schedule of non-cash activities: | |||||||||||||||||||||||||||
Assets acquired and liabilities assumed from acquisitions and other: | Assets acquired and liabilities assumed from acquisitions and other: | |||||||||||||||||||||||||||
Real estate investments | $ | 94,280 | $ | 425,906 | $ | 69,092 | Real estate investments | $ | 1,319,988 | $ | 170,484 | $ | 1,057,138 | |||||||||||||||
Other assets | 5,398 | (3,716 | ) | 90,037 | Other assets | 16,913 | 1,224 | 11,140 | ||||||||||||||||||||
Debt | 30,508 | 75,231 | 47,641 | Debt | 482,482 | 55,368 | 907,746 | |||||||||||||||||||||
Other liabilities | 18,086 | 70,878 | 72,636 | Other liabilities | 102,256 | 2,707 | 47,121 | |||||||||||||||||||||
Deferred income tax liability | 922 | (14,869 | ) | 9,381 | Deferred income tax liability | 446 | 337 | 95 | ||||||||||||||||||||
Noncontrolling interests | 2,591 | 4,202 | 22,517 | Noncontrolling interests | 468 | 20,259 | 113,316 | |||||||||||||||||||||
Equity issued | 30,487 | — | — | Equity issued | 751,248 | — | — | |||||||||||||||||||||
Equity issued for redemption of OP and Class C Units | 907 | 24,002 | 24,318 | |||||||||||||||||||||||||
Equity issued for redemption of OP Units | Equity issued for redemption of OP Units | 76 | — | 127 |
December 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||
Total Assets | Total Liabilities | Total Assets | Total Liabilities | |||||||||||||||||||||||
NHP/PMB L.P. | $ | 749,834 | $ | 251,352 | $ | 649,128 | $ | 238,168 | ||||||||||||||||||
Other identified VIEs | 3,949,294 | 1,556,136 | 4,095,102 | 1,653,036 | ||||||||||||||||||||||
Tax credit VIEs | 458,953 | 103,992 | 614,490 | 204,746 |
December 31, 2018 | December 31, 2017 | |||||||||||||||
Total Assets | Total Liabilities | Total Assets | Total Liabilities | |||||||||||||
(In thousands) | ||||||||||||||||
NHP/PMB L.P. | $ | 673,467 | $ | 238,147 | $ | 605,150 | $ | 199,958 | ||||||||
Other identified VIEs | 2,075,499 | 402,478 | 1,983,183 | 348,124 | ||||||||||||
Tax credit VIEs | 797,077 | 298,154 | 988,598 | 221,908 |
•Cash and cash equivalents - The carrying amount of unrestricted cash and cash equivalents reported on our Consolidated Balance Sheets approximates fair value due to the short maturity of these instruments. •Escrow deposits and restricted cash- The carrying amount of escrow deposits and restricted cash reported on our Consolidated Balance Sheets approximates fair value due to the short maturity of these instruments. • |
Loans receivable - We estimate the fair value of loans receivable using level two and level three inputs. We discount future cash flows using current interest rates at which similar loans with the same terms and length to maturity would be made to borrowers with similar credit ratings. •Available for sale securities - We estimate the fair value of marketable debt securities using level two inputs. We observe quoted prices for similar assets or liabilities in active markets that we have the ability to access. We estimate the fair value of certain government-sponsored pooled loan investments using level three inputs. We consider credit spreads, underlying asset performance and credit quality, and default rates. •Derivative instruments - With the assistance of a third party, we estimate the fair value of derivative instruments, including interest rate caps, interest rate swaps, and foreign currency forward contracts, using level two inputs. ◦Interest rate caps - We observe forward yield curves and other relevant information. ◦Interest rate swaps - We observe alternative financing rates derived from market-based financing rates, forward yield curves and discount rates. ◦Foreign currency forward contracts - We estimate the future values of the two currency tranches using forward exchange rates that are based on traded forward points and calculate a present value of the net amount using a discount factor based on observable traded interest rates. •Stock warrants - We estimate the fair value of stock warrants using level two inputs that are obtained from public sources. Inputs include equity spot price, dividend yield, volatility and risk-free rate. •Senior notes payable and other debt - We estimate the fair value of senior notes payable and other debt using level two inputs. We discount the future cash flows using current interest rates at which we could obtain similar |
•Redeemable OP unitholder interests - We estimate the fair value of our redeemable OP unitholder interests using level one inputs. We base fair value on the closing price of our common stock, as OP Units 88 VENTAS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Revenues (1): | |||||||||||||||||
Brookdale Senior Living (2) | 3.9 | % | 4.4 | % | 4.7 | % | |||||||||||
Ardent | 3.3 | 3.2 | 3.1 | ||||||||||||||
Kindred | 3.8 | 3.5 | 3.3 | ||||||||||||||
NOI: | |||||||||||||||||
Brookdale Senior Living (2) | 8.6 | % | 9.0 | % | 8.7 | % | |||||||||||
Ardent | 7.4 | 6.6 | 5.8 | ||||||||||||||
Kindred | 7.8 | 7.1 | 6.3 |
For the Years Ended December 31, | ||||||||
2018 | 2017 | 2016 | ||||||
Revenues(1): | ||||||||
Brookdale Senior Living | 4.3 | % | 4.7 | % | 4.8 | % | ||
Ardent | 3.1 | 3.1 | 3.1 | |||||
Kindred(2) | 3.5 | 4.6 | 5.4 | |||||
NOI: | ||||||||
Brookdale Senior Living | 7.6 | % | 8.0 | % | 8.3 | % | ||
Ardent | 5.7 | 5.3 | 5.3 | |||||
Kindred(2) | 6.4 | 7.9 | 9.2 |
(2)2021 and 2020 results include $42.6 million and $21.3 million, respectively, of amortization of up-front consideration received in 2020 from the Brookdale Lease. |
Brookdale Senior Living | Ardent | Kindred | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||
Brookdale Senior Living | Ardent | Kindred | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
2019 | $ | 179,501 | $ | 117,731 | $ | 129,357 | $ | 886,142 | $ | 1,312,731 | ||||||||||||||||||||||||||||||||||||||
2020 | 179,501 | 117,731 | 130,117 | 829,895 | 1,257,244 | |||||||||||||||||||||||||||||||||||||||||||
2021 | 179,501 | 117,731 | 130,897 | 760,948 | 1,189,077 | |||||||||||||||||||||||||||||||||||||||||||
2022 | 179,491 | 117,731 | 131,696 | 650,798 | 1,079,716 | 2022 | $ | 147,951 | $ | 130,834 | $ | 135,262 | $ | 700,544 | $ | 1,114,591 | ||||||||||||||||||||||||||||||||
2023 | 179,491 | 117,731 | 112,395 | 297,421 | 707,038 | 2023 | 147,693 | 130,834 | 114,356 | 648,401 | 1,041,284 | |||||||||||||||||||||||||||||||||||||
2024 | 2024 | 147,709 | 130,834 | 104,083 | 597,681 | 980,307 | ||||||||||||||||||||||||||||||||||||||||||
2025 | 2025 | 147,725 | 130,834 | 36,015 | 514,305 | 828,879 | ||||||||||||||||||||||||||||||||||||||||||
2026 | 2026 | — | 130,370 | 1,921 | 439,705 | 571,996 | ||||||||||||||||||||||||||||||||||||||||||
Thereafter | 358,982 | 1,376,726 | 143,940 | 2,856,091 | 4,735,739 | Thereafter | — | 1,122,180 | 2,444 | 1,592,355 | 2,716,979 | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,256,467 | $ | 1,965,381 | $ | 778,402 | $ | 6,281,295 | $ | 10,281,545 | Total | $ | 591,078 | $ | 1,775,886 | $ | 394,081 | $ | 4,492,991 | $ | 7,254,036 |
Triple-Net Leased Properties | Office Operations | Total | ||||||||||
(In thousands) | ||||||||||||
Land and improvements | $ | 1,579 | $ | 63,526 | $ | 65,105 | ||||||
Buildings and improvements | 12,558 | 1,311,676 | 1,324,234 | |||||||||
Acquired lease intangibles | 163 | 200,022 | 200,185 | |||||||||
Other assets | — | 99,777 | 99,777 | |||||||||
Total assets acquired | 14,300 | 1,675,001 | 1,689,301 | |||||||||
Notes payable and other debt | — | 47,641 | 47,641 | |||||||||
Intangible liabilities | — | 103,769 | 103,769 | |||||||||
Other liabilities | 380 | 64,792 | 65,172 | |||||||||
Total liabilities assumed | 380 | 216,202 | 216,582 | |||||||||
Noncontrolling interest assumed | — | 24,656 | 24,656 | |||||||||
Net assets acquired | 13,920 | 1,434,143 | 1,448,063 | |||||||||
Cash acquired | — | 19,119 | 19,119 | |||||||||
Total cash used | $ | 13,920 | $ | 1,415,024 | $ | 1,428,944 |
December 31, 2018 | December 31, 2017 | |||||||||||||||||||||
Number of Properties Held for Sale | Assets Held for Sale | Liabilities Held for Sale | Number of Properties Held for Sale | Assets Held for Sale | Liabilities Held for Sale | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Triple-net leased properties | 1 | $ | 5,482 | $ | 40 | — | $ | — | $ | — | ||||||||||||
Office operations (1) | — | 160 | 152 | 3 | 65,413 | 60,265 | ||||||||||||||||
Senior living operations (1) | — | (188 | ) | 13 | — | — | — | |||||||||||||||
Total | 1 | $ | 5,454 | $ | 205 | 3 | $ | 65,413 | $ | 60,265 |
December 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||
Number of Properties Held for Sale | Assets Held for Sale | Liabilities Held for Sale | Number of Properties Held for Sale | Assets Held for Sale | Liabilities Held for Sale | |||||||||||||||||||||||||||||||||
Triple-net leased properties | — | $ | — | $ | — | 1 | $ | 4,960 | $ | 2,690 | ||||||||||||||||||||||||||||
Office operations | 2 | 3,435 | 1,529 | — | 15 | 101 | ||||||||||||||||||||||||||||||||
Senior living operations | 2 | 24,964 | 9,321 | 1 | 4,633 | 455 | ||||||||||||||||||||||||||||||||
Total | 4 | $ | 28,399 | $ | 10,850 | 2 | $ | 9,608 | $ | 3,246 |
Amortized Cost | Allowance | Unrealized Gain | Carrying Amount | Fair Value | |||||||||||||||||||||||||
As of December 31, 2021: | |||||||||||||||||||||||||||||
Secured/mortgage loans and other, net | $ | 488,913 | $ | — | $ | — | $ | 488,913 | $ | 478,931 | |||||||||||||||||||
Government-sponsored pooled loan investments, net (1) | 39,376 | — | 1,836 | 41,213 | 41,213 | ||||||||||||||||||||||||
Total investments reported as secured loans receivable and investments, net | 528,289 | — | 1,836 | 530,126 | 520,144 | ||||||||||||||||||||||||
Non-mortgage loans receivable, net (2) | 24,418 | (5,394) | — | 19,024 | 19,039 | ||||||||||||||||||||||||
Total loans receivable and investments, net | $ | 552,707 | $ | (5,394) | $ | 1,836 | $ | 549,150 | $ | 539,183 | |||||||||||||||||||
As of December 31, 2020: | |||||||||||||||||||||||||||||
Secured/mortgage loans and other, net | $ | 555,840 | $ | — | $ | — | $ | 555,840 | $ | 508,707 | |||||||||||||||||||
Government-sponsored pooled loan investments, net | 55,154 | (8,846) | 3,419 | 49,727 | 49,727 | ||||||||||||||||||||||||
Total investments reported as secured loans receivable and investments, net | 610,994 | (8,846) | 3,419 | 605,567 | 558,434 | ||||||||||||||||||||||||
Non-mortgage loans receivable, net (2) | 74,700 | (17,623) | — | 57,077 | 57,009 | ||||||||||||||||||||||||
Marketable debt securities (2) | 213,334 | — | 24,219 | 237,553 | 237,553 | ||||||||||||||||||||||||
Total loans receivable and investments, net | $ | 899,028 | $ | (26,469) | $ | 27,638 | $ | 900,197 | $ | 852,996 |
Carrying Amount | Amortized Cost | Fair Value | Unrealized Gain | |||||||||||||
(In thousands) | ||||||||||||||||
As of December 31, 2018: | ||||||||||||||||
Secured/mortgage loans and other, net | $ | 439,491 | $ | 439,491 | $ | 425,290 | $ | — | ||||||||
Government-sponsored pooled loan investments, net(1) | 56,378 | 49,601 | 56,378 | 6,777 | ||||||||||||
Total investments reported as Secured loans receivable and investments, net | 495,869 | 489,092 | 481,668 | 6,777 | ||||||||||||
Non-mortgage loans receivable, net | 54,164 | 54,164 | 54,081 | — | ||||||||||||
Senior unsecured notes(2) | 206,442 | 197,473 | 206,442 | 8,969 | ||||||||||||
Total loans receivable and investments, net | $ | 756,475 | $ | 740,729 | $ | 742,191 | $ | 15,746 |
As of December 31, 2017: | ||||||||||||||||
Secured/mortgage loans and other, net | $ | 1,291,694 | $ | 1,291,694 | $ | 1,286,322 | $ | — | ||||||||
Government-sponsored pooled loan investments, net(1) | 54,665 | 53,863 | 54,665 | 802 | ||||||||||||
Total investments reported as Secured loans receivable and investments, net | 1,346,359 | 1,345,557 | 1,340,987 | 802 | ||||||||||||
Non-mortgage loans receivable, net | 59,857 | 59,857 | 58,849 | — | ||||||||||||
Total loans receivable and investments, net | $ | 1,406,216 | $ | 1,405,414 | $ | 1,399,836 | $ | 802 |
Ownership (1) | Carrying Amount | |||||||||||||||||||||||||
As of December 31, | As of December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Investment in unconsolidated real estate entities: | ||||||||||||||||||||||||||
Ventas Life Science & Healthcare Real Estate Fund | 21.1% | 22.9% | $ | 267,475 | $ | 279,983 | ||||||||||||||||||||
Pension Fund Joint Venture | 22.9% | 22.8% | 29,192 | 34,690 | ||||||||||||||||||||||
Research & Innovation Development Joint Venture | 51.0% | 50.3% | 221,363 | 123,445 | ||||||||||||||||||||||
Ventas Investment Management Platform | 518,030 | 438,118 | ||||||||||||||||||||||||
All other (2) | 34.0%-50.0% | 34.0%-50.0% | 5,435 | 5,570 | ||||||||||||||||||||||
Total investments in unconsolidated real estate entities | $ | 523,465 | $ | 443,688 | ||||||||||||||||||||||
(1) The entities in which we have an ownership interest may have less than a 100% interest in the underlying real estate. The ownership percentages in the table reflect our interest in the underlying real estate. Joint venture members, including us in some instances, have equity participation rights based on the underlying performance of the investments, which could result in non pro rata distributions. | ||||||||||||||||||||||||||
(2) Includes investments in land parcels, parking structures and other de minimis investments in unconsolidated real estate entities. |
December 31, 2018 | December 31, 2017 | |||||||||||||||||||||||||||||||||
Balance | Remaining Weighted Average Amortization Period in Years | Balance | Remaining Weighted Average Amortization Period in Years | As of December 31, 2021 | As of December 31, 2020 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Balance | Weighted Average Remaining Amortization Period in Years | Balance | Weighted Average Remaining Amortization Period in Years | ||||||||||||||||||||||||||||||
Intangible assets: | Intangible assets: | |||||||||||||||||||||||||||||||||
Above market lease intangibles | $ | 181,393 | 6.7 | $ | 185,012 | 7.0 | ||||||||||||||||||||||||||||
In-place and other lease intangibles | 1,321,562 | 24.7 | 1,363,062 | 24.0 | ||||||||||||||||||||||||||||||
Above-market lease intangibles (1) | Above-market lease intangibles (1) | $ | 129,121 | 5.9 | $ | 140,096 | 6.4 | |||||||||||||||||||||||||||
In-place and other lease intangibles (2) | In-place and other lease intangibles (2) | 1,240,626 | 7.2 | 1,090,790 | 10.7 | |||||||||||||||||||||||||||||
Goodwill | 1,050,548 | N/A | 1,034,644 | N/A | Goodwill | 1,046,140 | N/A | 1,051,650 | N/A | |||||||||||||||||||||||||
Other intangibles | 35,759 | 11.8 | 35,890 | 14.1 | ||||||||||||||||||||||||||||||
Other intangibles (2) | Other intangibles (2) | 34,517 | 6.5 | 35,870 | 10.0 | |||||||||||||||||||||||||||||
Accumulated amortization | (921,107 | ) | N/A | (864,576 | ) | N/A | Accumulated amortization | (944,403) | N/A | (941,462) | N/A | |||||||||||||||||||||||
Net intangible assets | $ | 1,668,155 | 22.9 | $ | 1,754,032 | 22.1 | Net intangible assets | $ | 1,506,001 | 7.1 | $ | 1,376,944 | 10.3 | |||||||||||||||||||||
Intangible liabilities: | Intangible liabilities: | |||||||||||||||||||||||||||||||||
Below market lease intangibles | $ | 356,771 | 14.4 | $ | 359,118 | 13.7 | ||||||||||||||||||||||||||||
Below-market lease intangibles (1) | Below-market lease intangibles (1) | $ | 334,365 | 9.7 | $ | 339,265 | 14.3 | |||||||||||||||||||||||||||
Other lease intangibles | 31,418 | 46.5 | 40,141 | 40.8 | Other lease intangibles | 13,608 | N/A | 13,498 | N/A | |||||||||||||||||||||||||
Accumulated amortization | (191,909 | ) | N/A | (160,985 | ) | N/A | Accumulated amortization | (244,975) | N/A | (212,655) | N/A | |||||||||||||||||||||||
Purchase option intangibles | 3,568 | N/A | 3,568 | N/A | Purchase option intangibles | 3,568 | N/A | 3,568 | N/A | |||||||||||||||||||||||||
Net intangible liabilities | $ | 199,848 | 17.2 | $ | 241,842 | 15.6 | Net intangible liabilities | $ | 106,566 | 9.7 | $ | 143,676 | 14.3 |
Estimated Net Amortization | |||
(In thousands) | |||
2019 | $ | 55,502 | |
2020 | 44,192 | ||
2021 | 38,450 | ||
2022 | 30,092 | ||
2023 | 26,022 |
Estimated Net Amortization | |||||
2022 | $ | 123,144 | |||
2023 | 111,976 | ||||
2024 | 57,729 | ||||
2025 | 9,764 | ||||
2026 | 5,972 |
Goodwill | ||||||||
Triple-net leased properties | $ | 322,097 | ||||||
Senior living operations | 259,482 | |||||||
Office operations | 464,561 | |||||||
Total goodwill | $ | 1,046,140 |
Goodwill | ||||
(In thousands) | ||||
Triple-Net Leased Properties | $ | 321,168 | ||
Senior Living Operations | 259,482 | |||
Office Operations | 469,898 | |||
Total Goodwill | $ | 1,050,548 |
As of December 31, | |||||||||||
2021 | 2020 | ||||||||||
Straight-line rent receivables | $ | 176,877 | $ | 169,711 | |||||||
Non-mortgage loans receivable, net | 19,024 | 57,077 | |||||||||
Stock warrants | 48,884 | 50,098 | |||||||||
Marketable debt securities | — | 237,553 | |||||||||
Other intangibles, net | 7,270 | 4,659 | |||||||||
Investment in unconsolidated operating entities | 73,602 | 63,768 | |||||||||
Other | 239,412 | 224,363 | |||||||||
Total other assets | $ | 565,069 | $ | 807,229 |
2018 | 2017 | ||||||
(In thousands) | |||||||
Straight-line rent receivables, net | $ | 250,023 | $ | 267,764 | |||
Non-mortgage loans receivable, net | 54,164 | 59,857 | |||||
Senior unsecured notes | 206,442 | — | |||||
Other intangibles, net | 5,623 | 6,496 | |||||
Investment in unconsolidated operating entities | 56,820 | 49,738 | |||||
Other | 186,113 | 189,924 | |||||
Total other assets | $ | 759,185 | $ | 573,779 |
As of December 31, | |||||||||||
2021 | 2020 | ||||||||||
Unsecured revolving credit facility (1) | $ | 56,448 | $ | 39,395 | |||||||
Commercial paper notes | 280,000 | — | |||||||||
Secured revolving construction credit facility due 2022 | — | 154,098 | |||||||||
Floating Rate Senior Notes, Series F due 2021 (2) | — | 235,664 | |||||||||
3.25% Senior Notes due 2022 | — | 263,687 | |||||||||
3.30% Senior Notes, Series C due 2022 (2) | — | 196,386 | |||||||||
Unsecured term loan due 2023 | 200,000 | 200,000 | |||||||||
3.125% Senior Notes due 2023 | — | 400,000 | |||||||||
3.10% Senior Notes due 2023 | — | 400,000 | |||||||||
2.55% Senior Notes, Series D due 2023 (2) | 217,667 | 216,025 | |||||||||
3.50% Senior Notes due 2024 | 400,000 | 400,000 | |||||||||
3.75% Senior Notes due 2024 | 400,000 | 400,000 | |||||||||
4.125% Senior Notes, Series B due 2024 (2) | 197,879 | 196,386 | |||||||||
2.80% Senior Notes, Series E due 2024 (2) | 474,909 | 471,328 | |||||||||
Unsecured term loan due 2025 (2) | 395,757 | 392,773 | |||||||||
3.50% Senior Notes due 2025 | 600,000 | 600,000 | |||||||||
2.65% Senior Notes due 2025 | 450,000 | 450,000 | |||||||||
4.125% Senior Notes due 2026 | 500,000 | 500,000 | |||||||||
3.25% Senior Notes due 2026 | 450,000 | 450,000 | |||||||||
2.45% Senior Notes, Series G due 2027 (2) | 375,970 | — | |||||||||
3.85% Senior Notes due 2027 | 400,000 | 400,000 | |||||||||
4.00% Senior Notes due 2028 | 650,000 | 650,000 | |||||||||
4.40% Senior Notes due 2029 | 750,000 | 750,000 | |||||||||
3.00% Senior Notes due 2030 | 650,000 | 650,000 | |||||||||
4.75% Senior Notes due 2030 | 500,000 | 500,000 | |||||||||
2.50% Senior Notes due 2031 | 500,000 | — | |||||||||
3.30% Senior Notes, Series H due 2031 (2) | 237,454 | — | |||||||||
6.90% Senior Notes due 2037 (3) | 52,400 | 52,400 | |||||||||
6.59% Senior Notes due 2038 (3) | 22,823 | 22,823 | |||||||||
5.70% Senior Notes due 2043 | 300,000 | 300,000 | |||||||||
4.375% Senior Notes due 2045 | 300,000 | 300,000 | |||||||||
4.875% Senior Notes due 2049 | 300,000 | 300,000 | |||||||||
Mortgage loans and other | 2,431,831 | 2,092,106 | |||||||||
Total | 12,093,138 | 11,983,071 | |||||||||
Deferred financing costs, net | (69,925) | (68,343) | |||||||||
Unamortized fair value adjustment | 32,888 | 12,618 | |||||||||
Unamortized discounts | (28,557) | (31,934) | |||||||||
Senior notes payable and other debt | $ | 12,027,544 | $ | 11,895,412 |
2018 | 2017 | ||||||
(In thousands) | |||||||
Unsecured revolving credit facility (1) | $ | 765,919 | $ | 535,832 | |||
Secured revolving construction credit facility due 2022 | 90,488 | 2,868 | |||||
2.00% Senior Notes due 2018 | — | 700,000 | |||||
4.00% Senior Notes due 2019 | — | 600,000 | |||||
3.00% Senior Notes, Series A due 2019 (2) | 293,319 | 318,041 | |||||
2.70% Senior Notes due 2020 | 500,000 | 500,000 | |||||
Unsecured term loan due 2020 | — | 900,000 | |||||
4.75% Senior Notes due 2021 | — | 700,000 | |||||
4.25% Senior Notes due 2022 | 600,000 | 600,000 | |||||
3.25% Senior Notes due 2022 | 500,000 | 500,000 | |||||
3.30% Senior Notes, Series C due 2022 (2) | 183,325 | 198,776 | |||||
Unsecured term loan due 2023 | 300,000 | — | |||||
3.125% Senior Notes due 2023 | 400,000 | 400,000 | |||||
3.10% Senior Notes due 2023 | 400,000 | 400,000 | |||||
2.55% Senior Notes, Series D due 2023 (2) | 201,657 | 218,653 | |||||
Unsecured term loan due 2024 | 600,000 | — | |||||
3.75% Senior Notes due 2024 | 400,000 | 400,000 | |||||
4.125% Senior Notes, Series B due 2024 (2) | 183,324 | 198,776 | |||||
3.50% Senior Notes due 2025 | 600,000 | 600,000 | |||||
4.125% Senior Notes due 2026 | 500,000 | 500,000 | |||||
3.25% Senior Notes due 2026 | 450,000 | 450,000 | |||||
3.85% Senior Notes due 2027 | 400,000 | 400,000 | |||||
4.00% Senior Notes due 2028 | 650,000 | — | |||||
4.40% Senior Notes due 2029 | 750,000 | — | |||||
6.90% Senior Notes due 2037 | 52,400 | 52,400 | |||||
6.59% Senior Notes due 2038 | 22,823 | 22,973 | |||||
5.45% Senior Notes due 2043 | 258,750 | 258,750 | |||||
5.70% Senior Notes due 2043 | 300,000 | 300,000 | |||||
4.375% Senior Notes due 2045 | 300,000 | 300,000 | |||||
Mortgage loans and other | 1,127,697 | 1,308,564 | |||||
Total | 10,829,702 | 11,365,633 | |||||
Deferred financing costs, net | (69,615 | ) | (73,093 | ) | |||
Unamortized fair value adjustment | (1,163 | ) | 12,139 | ||||
Unamortized discounts | (25,225 | ) | (28,617 | ) | |||
Senior notes payable and other debt | $ | 10,733,699 | $ | 11,276,062 |
Principal Amount Due at Maturity | Unsecured Revolving Credit Facility (1) | Scheduled Periodic Amortization | Total Maturities | ||||||||||||
(In thousands) | |||||||||||||||
2019 | $ | 390,779 | $ | — | $ | 15,850 | $ | 406,629 | |||||||
2020 | 592,384 | — | 15,322 | 607,706 | |||||||||||
2021 | 64,342 | 765,919 | 14,232 | 844,493 | |||||||||||
2022 | 1,491,561 | — | 12,743 | 1,504,304 | |||||||||||
2023 | 1,542,294 | — | 9,104 | 1,551,398 | |||||||||||
Thereafter (2) | 5,835,010 | — | 80,162 | 5,915,172 | |||||||||||
Total maturities | $ | 9,916,370 | $ | 765,919 | $ | 147,413 | $ | 10,829,702 |
Principal Amount Due at Maturity | Unsecured Revolving Credit Facility and Commercial Paper Notes (1) | Scheduled Periodic Amortization | Total Maturities | ||||||||||||||||||||
2022 | $ | 389,966 | $ | 280,000 | $ | 51,887 | $ | 721,853 | |||||||||||||||
2023 | 696,075 | — | 38,757 | 734,832 | |||||||||||||||||||
2024 | 1,651,162 | — | 32,974 | 1,684,136 | |||||||||||||||||||
2025 | 2,047,551 | 56,448 | 26,810 | 2,130,809 | |||||||||||||||||||
2026 | 1,035,585 | — | 19,869 | 1,055,454 | |||||||||||||||||||
Thereafter | 5,656,800 | — | 109,254 | 5,766,054 | |||||||||||||||||||
Total maturities | $ | 11,477,139 | $ | 336,448 | $ | 279,551 | $ | 12,093,138 |
2018 | 2017 | ||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||
(In thousands) | |||||||||||||||
Assets: | |||||||||||||||
Cash and cash equivalents | $ | 72,277 | $ | 72,277 | $ | 81,355 | $ | 81,355 | |||||||
Secured mortgage loans and other, net | 439,491 | 425,290 | 1,291,694 | 1,286,322 | |||||||||||
Non-mortgage loans receivable, net | 54,164 | 54,081 | 59,857 | 58,849 | |||||||||||
Senior unsecured notes | 206,442 | 206,442 | — | — | |||||||||||
Government-sponsored pooled loan investments, net | 56,378 | 56,378 | 54,665 | 54,665 | |||||||||||
Derivative instruments | 6,012 | 6,012 | 7,248 | 7,248 | |||||||||||
Liabilities: | |||||||||||||||
Senior notes payable and other debt, gross | 10,829,702 | 10,617,074 | 11,365,633 | 11,600,750 | |||||||||||
Derivative instruments | 4,561 | 4,561 | 5,435 | 5,435 | |||||||||||
Redeemable OP Unitholder Interests | 174,552 | 174,552 | 146,252 | 146,252 |
As of December 31, 2021 | As of December 31, 2020 | ||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Cash and cash equivalents | $ | 149,725 | $ | 149,725 | $ | 413,327 | $ | 413,327 | |||||||||||||||
Escrow deposits and restricted cash | 46,872 | 46,872 | 38,313 | 38,313 | |||||||||||||||||||
Stock warrants | 48,884 | 48,884 | 50,098 | 50,098 | |||||||||||||||||||
Secured mortgage loans and other, net | 488,913 | 478,931 | 555,840 | 508,707 | |||||||||||||||||||
Non-mortgage loans receivable, net | 19,024 | 19,039 | 57,077 | 57,009 | |||||||||||||||||||
Marketable debt securities | — | — | 237,553 | 237,553 | |||||||||||||||||||
Government-sponsored pooled loan investments, net | 41,213 | 41,213 | 49,727 | 49,727 | |||||||||||||||||||
Derivative instruments | 1,128 | 1,128 | 2 | 2 | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Senior notes payable and other debt, gross | 12,093,138 | 12,891,937 | 11,983,071 | 13,075,337 | |||||||||||||||||||
Derivative instruments | 12,290 | 12,290 | 28,338 | 28,338 | |||||||||||||||||||
Redeemable OP Units | 182,112 | 182,112 | 145,983 | 145,983 |
2018 | 2017 | 2016 | |||||
Risk-free interest rate | N/A | 1.69-1.87% | 0.93-1.27% | ||||
Dividend yield | N/A | 6.00 | % | 5.50 | % | ||
Volatility factors of the expected market price for our common stock | N/A | 21.5-21.6% | 19.1-20.6% | ||||
Weighted average expected life of options | N/A | 4.0 years | 4.0 years |
Shares (000’s) | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (years) | Intrinsic Value ($000’s) | ||||||||||||||||||||||||||||||||
Shares (000’s) | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (years) | Intrinsic Value ($000’s) | ||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2017 | 5,025 | $ | 58.57 | ||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2020 | Outstanding as of December 31, 2020 | 3,954 | $ | 60.90 | |||||||||||||||||||||||||||||||
Options granted | — | — | Options granted | — | — | ||||||||||||||||||||||||||||||
Options exercised | (201 | ) | 43.53 | Options exercised | (193) | 46.73 | |||||||||||||||||||||||||||||
Options forfeited | (35 | ) | 59.49 | Options forfeited | — | — | |||||||||||||||||||||||||||||
Options expired | (5 | ) | 58.93 | Options expired | — | — | |||||||||||||||||||||||||||||
Outstanding as of December 31, 2018 | 4,784 | 59.20 | 6.4 | $ | 13,566 | ||||||||||||||||||||||||||||||
Exercisable as of December 31, 2018 | 4,196 | 58.89 | 6.3 | $ | 13,521 | ||||||||||||||||||||||||||||||
Outstanding as of December 31, 2021 | Outstanding as of December 31, 2021 | 3,761 | 61.63 | 3.9 | $ | 29 | |||||||||||||||||||||||||||||
Exercisable as of December 31, 2021 | Exercisable as of December 31, 2021 | 3,761 | 61.63 | 3.9 | $ | 29 |
Restricted Stock (000’s) | Weighted Average Grant Date Fair Value | Restricted Stock Units (000’s) | Weighted Average Grant Date Fair Value | ||||||||||
Nonvested at December 31, 2017 | 319 | $ | 58.36 | 414 | $ | 62.01 | |||||||
Granted | 161 | 50.77 | 331 | 53.44 | |||||||||
Vested | (182 | ) | 59.35 | (104 | ) | 61.47 | |||||||
Forfeited | (22 | ) | 53.94 | (14 | ) | 58.29 | |||||||
Nonvested at December 31, 2018 | 276 | 53.64 | 627 | 57.70 |
Restricted Stock (000’s) | Weighted Average Grant Date Fair Value | Restricted Stock Units (000’s) | Weighted Average Grant Date Fair Value | ||||||||||||||||||||
Non-vested at December 31, 2020 | 233 | $ | 49.94 | 714 | $ | 59.46 | |||||||||||||||||
Granted | 358 | 51.71 | 654 | 47.87 | |||||||||||||||||||
Vested | (121) | 51.51 | (321) | 57.44 | |||||||||||||||||||
Forfeited | (22) | 49.38 | — | — | |||||||||||||||||||
Non-vested at December 31, 2021 | 448 | 50.96 | 1,047 | 52.84 |
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2018 | 2017 | 2016 | 2021 | 2020 | 2019 | |||||||||||||||||||||||
Tax treatment of distributions: | Tax treatment of distributions: | |||||||||||||||||||||||||||
Ordinary income | $ | — | $ | 1.02814 | $ | 2.68216 | Ordinary income | $ | — | $ | — | $ | — | |||||||||||||||
Qualified ordinary income | 0.00375 | 0.00337 | 0.05794 | Qualified ordinary income | 0.00330 | 0.00696 | 0.12230 | |||||||||||||||||||||
199A qualified business income | 2.97465 | — | — | 199A qualified business income | 1.25274 | 2.14381 | 2.22898 | |||||||||||||||||||||
Long-term capital gain | 0.05916 | 1.07836 | 0.11613 | Long-term capital gain | 0.16448 | 0.28450 | — | |||||||||||||||||||||
Unrecaptured Section 1250 gain | 0.12244 | 0.21513 | 0.10877 | Unrecaptured Section 1250 gain | 0.37948 | 0.04973 | 0.03434 | |||||||||||||||||||||
Non-dividend distribution | Non-dividend distribution | — | — | 0.78438 | ||||||||||||||||||||||||
Distribution reported for 1099-DIV purposes | 3.16000 | 2.32500 | 2.96500 | Distribution reported for 1099-DIV purposes | 1.80000 | 2.48500 | 3.17000 | |||||||||||||||||||||
Add: Dividend declared in current year and taxable in following year | 0.79250 | 0.79000 | — | Add: Dividend declared in current year and taxable in following year | 0.45000 | 0.45000 | 0.79250 | |||||||||||||||||||||
Less: Dividend declared in prior year and taxable in current year | (0.79000 | ) | — | — | Less: Dividend declared in prior year and taxable in current year | (0.45000) | (0.79250) | (0.79250) | ||||||||||||||||||||
Distribution declared per common share outstanding | $ | 3.16250 | $ | 3.11500 | $ | 2.96500 | Distribution declared per common share outstanding | $ | 1.80000 | $ | 2.14250 | $ | 3.17000 |
2018 | 2017 | 2016 | For the Years Ended December 31, | |||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||
Current - Federal | $ | (2,953 | ) | $ | (5,672 | ) | $ | (2,991 | ) | Current - Federal | $ | 662 | $ | 402 | $ | (1,840) | ||||||||||||
Current - State | 1,332 | 1,119 | 1,241 | Current - State | 2,116 | 2,107 | 2,118 | |||||||||||||||||||||
Deferred - Federal | (32,492 | ) | (54,396 | ) | (19,539 | ) | Deferred - Federal | 6,431 | (56,835) | (49,532) | ||||||||||||||||||
Deferred - State | (825 | ) | 3,237 | (3,634 | ) | Deferred - State | 72 | (35,447) | (3,353) | |||||||||||||||||||
Current - Foreign | 1,892 | 2,307 | 1,067 | Current - Foreign | 3,439 | 2,929 | 2,335 | |||||||||||||||||||||
Deferred - Foreign | (6,907 | ) | (6,394 | ) | (7,487 | ) | Deferred - Foreign | (7,893) | (9,690) | (6,038) | ||||||||||||||||||
Total | $ | (39,953 | ) | $ | (59,799 | ) | $ | (31,343 | ) | Total | $ | 4,827 | $ | (96,534) | $ | (56,310) |
2018 | 2017 | 2016 | For the Years Ended December 31, | |||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interest and income taxes | $ | 80,811 | $ | 204,742 | $ | 181,478 | Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interest and income taxes | $ | (34,127) | $ | 27,132 | $ | 77,803 | |||||||||||||||
State income taxes, net of federal benefit | (253 | ) | (1,115 | ) | (1,022 | ) | State income taxes, net of federal benefit | (8,256) | (1,967) | 2,341 | ||||||||||||||||||
Change in valuation allowance from ordinary operations | (5,451 | ) | 8,237 | 3,921 | Change in valuation allowance from ordinary operations | 59,572 | 86,359 | (47,227) | ||||||||||||||||||||
Decrease in ASC 740 income tax liability | (4,347 | ) | (4,750 | ) | (3,582 | ) | ||||||||||||||||||||||
Tax at statutory rate on earnings not subject to federal income taxes | (89,947 | ) | (231,379 | ) | (209,204 | ) | Tax at statutory rate on earnings not subject to federal income taxes | (22,869) | (53,808) | (90,862) | ||||||||||||||||||
Foreign rate differential and foreign taxes | 1,924 | 6,407 | 2,094 | Foreign rate differential and foreign taxes | 4,405 | 3,342 | 1,407 | |||||||||||||||||||||
Change in tax status of TRS | 359 | (690 | ) | (5,629 | ) | Change in tax status of TRS | 3,485 | (150,287) | (52) | |||||||||||||||||||
Effect of the 2017 Tax Act | (23,160 | ) | (41,212 | ) | — | |||||||||||||||||||||||
Other differences | 111 | (39 | ) | 601 | Other differences | 2,617 | (7,305) | 280 | ||||||||||||||||||||
Income tax benefit | $ | (39,953 | ) | $ | (59,799 | ) | $ | (31,343 | ) | |||||||||||||||||||
Income tax expense (benefit) | Income tax expense (benefit) | $ | 4,827 | $ | (96,534) | $ | (56,310) |
2018 | 2017 | 2016 | As of December 31, | |||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||
Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs | $ | (269,758 | ) | $ | (300,395 | ) | $ | (409,803 | ) | Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs | $ | (58,691) | $ | (60,494) | $ | (257,373) | ||||||||||||
Operating loss and interest deduction carryforwards | 133,243 | 146,732 | 195,415 | Operating loss and interest deduction carryforwards | 187,407 | 124,606 | 136,771 | |||||||||||||||||||||
Expense accruals and other | 11,910 | 12,890 | 18,185 | Expense accruals and other | 21,628 | 10,516 | 7,380 | |||||||||||||||||||||
Valuation allowance | (80,614 | ) | (109,319 | ) | (120,438 | ) | Valuation allowance | (198,450) | (127,279) | (40,114) | ||||||||||||||||||
Net deferred tax liabilities | $ | (205,219 | ) | $ | (250,092 | ) | $ | (316,641 | ) | Net deferred tax liabilities | $ | (48,106) | $ | (52,651) | $ | (153,336) |
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
2016 Research and Innovation Acquisition | $ | — | $ | 19,262 | $ | (9,446 | ) | ||||
2017 miscellaneous acquisitions | (922 | ) | (4,510 | ) | — | ||||||
Established beginning deferred tax assets or liabilities | $ | (922 | ) | $ | 14,752 | $ | (9,446 | ) |
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Beginning Balance | $ | 109,319 | $ | 120,438 | $ | 120,015 | |||||
Additions: | |||||||||||
Expenses(1) | 4,547 | 9,277 | 6,589 | ||||||||
Subtractions: | |||||||||||
Deductions(1) | (9,998 | ) | (1,040 | ) | (2,668 | ) | |||||
Effect of the 2017 Tax Act | (23,160 | ) | (21,321 | ) | — | ||||||
State income tax, net of federal impact | (718 | ) | 956 | 536 | |||||||
Other activity (not resulting in expense or deduction) | 624 | 1,009 | (4,034 | ) | |||||||
Ending balance | $ | 80,614 | $ | 109,319 | $ | 120,438 |
2018 | 2017 | |||||||||||||||||
(In thousands) | 2021 | 2020 | ||||||||||||||||
Balance as of January 1 | $ | 16,765 | $ | 20,950 | Balance as of January 1 | $ | 6,057 | $ | 12,127 | |||||||||
Additions to tax positions related to prior years | 207 | 648 | Additions to tax positions related to prior years | 29 | 74 | |||||||||||||
Subtractions to tax positions related to prior years | (1,720 | ) | (497 | ) | Subtractions to tax positions related to prior years | (4) | (6,144) | |||||||||||
Subtractions to tax positions as a result of the lapse of the statute of limitations | (2,908 | ) | (4,336 | ) | ||||||||||||||
Balance as of December 31 | $ | 12,344 | $ | 16,765 | Balance as of December 31 | $ | 6,082 | $ | 6,057 |
2022 | $ | 21,328 | |||
2023 | 21,468 | ||||
2024 | 20,346 | ||||
2025 | 15,918 | ||||
2026 | 15,836 | ||||
Thereafter | 585,762 | ||||
Total undiscounted minimum lease payments | 680,658 | ||||
Less: imputed interest | (483,424) | ||||
Operating lease liabilities | $ | 197,234 |
Lease Payments | |||
(In thousands) | |||
2019 | $ | 24,941 | |
2020 | 24,287 | ||
2021 | 23,635 | ||
2022 | 18,867 | ||
2023 | 18,251 | ||
Thereafter | 614,974 | ||
Total | $ | 724,955 |
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2018 | 2017 | 2016 | For the Years Ended December 31, | |||||||||||||||||||||||||
(In thousands, except per share amounts) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||
Numerator for basic and diluted earnings per share: | Numerator for basic and diluted earnings per share: | |||||||||||||||||||||||||||
Income from continuing operations | $ | 415,991 | $ | 1,361,222 | $ | 652,412 | Income from continuing operations | $ | 56,559 | $ | 441,185 | $ | 439,297 | |||||||||||||||
Discontinued operations | (10 | ) | (110 | ) | (922 | ) | ||||||||||||||||||||||
Net income | 415,981 | 1,361,112 | 651,490 | Net income | 56,559 | 441,185 | 439,297 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | 6,514 | 4,642 | 2,259 | Net income attributable to noncontrolling interests | 7,551 | 2,036 | 6,281 | |||||||||||||||||||||
Net income attributable to common stockholders | $ | 409,467 | $ | 1,356,470 | $ | 649,231 | Net income attributable to common stockholders | $ | 49,008 | $ | 439,149 | $ | 433,016 | |||||||||||||||
Denominator: | Denominator: | |||||||||||||||||||||||||||
Denominator for basic earnings per share—weighted average shares | 356,265 | 355,326 | 344,703 | Denominator for basic earnings per share—weighted average shares | 382,785 | 373,368 | 365,977 | |||||||||||||||||||||
Effect of dilutive securities: | Effect of dilutive securities: | |||||||||||||||||||||||||||
Stock options | 174 | 494 | 569 | Stock options | 34 | — | 391 | |||||||||||||||||||||
Restricted stock awards | 331 | 265 | 176 | Restricted stock awards | 365 | 171 | 527 | |||||||||||||||||||||
OP Unitholder Interests | 2,531 | 2,481 | 2,942 | |||||||||||||||||||||||||
OP unitholder interests | OP unitholder interests | 3,120 | 2,964 | 2,991 | ||||||||||||||||||||||||
Denominator for diluted earnings per share—adjusted weighted average shares | 359,301 | 358,566 | 348,390 | Denominator for diluted earnings per share—adjusted weighted average shares | 386,304 | 376,503 | 369,886 | |||||||||||||||||||||
Basic earnings per share: | �� | Basic earnings per share: | ||||||||||||||||||||||||||
Income from continuing operations | $ | 1.17 | $ | 3.83 | $ | 1.89 | Income from continuing operations | $ | 0.15 | $ | 1.18 | $ | 1.20 | |||||||||||||||
Net income attributable to common stockholders | 1.15 | 3.82 | 1.88 | Net income attributable to common stockholders | 0.13 | 1.18 | 1.18 | |||||||||||||||||||||
Diluted earnings per share: | Diluted earnings per share: | |||||||||||||||||||||||||||
Income from continuing operations | $ | 1.16 | $ | 3.80 | $ | 1.87 | Income from continuing operations | $ | 0.15 | $ | 1.17 | $ | 1.19 | |||||||||||||||
Net income attributable to common stockholders | 1.14 | 3.78 | 1.86 | Net income attributable to common stockholders | 0.13 | 1.17 | 1.17 |
2018 | 2017 | As of December 31, | ||||||||||||||||
(In thousands) | 2021 | 2020 | ||||||||||||||||
Foreign currency translation | $ | (55,016 | ) | $ | (45,580 | ) | Foreign currency translation | $ | (56,227) | $ | (51,947) | |||||||
Accumulated unrealized gain on marketable debt securities | 15,746 | 802 | ||||||||||||||||
Available for sale securities | Available for sale securities | 1,836 | 25,712 | |||||||||||||||
Derivative instruments | 19,688 | 9,658 | Derivative instruments | (10,129) | (28,119) | |||||||||||||
Total accumulated other comprehensive loss | $ | (19,582 | ) | $ | (35,120 | ) | Total accumulated other comprehensive loss | $ | (64,520) | $ | (54,354) |
Redeemable OP Unitholder Interests | Redeemable Noncontrolling Interests | Total Redeemable OP Unitholder and Noncontrolling Interests | ||||||||||||||||||||||||||||||
Redeemable OP Unitholder Interests | Redeemable Noncontrolling Interests | Total Redeemable OP Unitholder and Noncontrolling Interests | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Balance as of December 31, 2017 | $ | 146,252 | $ | 12,238 | $ | 158,490 | ||||||||||||||||||||||||||
Balance as of December 31, 2020 | Balance as of December 31, 2020 | $ | 145,983 | $ | 89,507 | $ | 235,490 | |||||||||||||||||||||||||
New issuances | 34,035 | — | 34,035 | New issuances | 31,524 | — | 31,524 | |||||||||||||||||||||||||
Change in valuation | 3,323 | 1,351 | 4,674 | |||||||||||||||||||||||||||||
Change in fair value | Change in fair value | 11,178 | 21,655 | 32,833 | ||||||||||||||||||||||||||||
Dispositions | Dispositions | — | — | — | ||||||||||||||||||||||||||||
Distributions and other | (7,817 | ) | — | (7,817 | ) | Distributions and other | (6,461) | (1,422) | (7,883) | |||||||||||||||||||||||
Redemptions | (1,241 | ) | — | (1,241 | ) | Redemptions | (112) | (11,569) | (11,681) | |||||||||||||||||||||||
Balance as of December 31, 2018 | $ | 174,552 | $ | 13,589 | $ | 188,141 | ||||||||||||||||||||||||||
Balance as of December 31, 2021 | Balance as of December 31, 2021 | $ | 182,112 | $ | 98,171 | $ | 280,283 |
For the Year Ended December 31, 2018 | |||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||
(In thousands, except per share amounts) | |||||||||||||||
Revenues | $ | 943,705 | $ | 942,304 | $ | 936,538 | $ | 923,263 | |||||||
Income from continuing operations | $ | 80,108 | $ | 169,300 | $ | 103,281 | $ | 63,302 | |||||||
Discontinued operations | (10 | ) | — | — | — | ||||||||||
Net income | 80,098 | 169,300 | 103,281 | 63,302 | |||||||||||
Net income attributable to noncontrolling interests | 1,395 | 2,781 | 1,309 | 1,029 | |||||||||||
Net income attributable to common stockholders | $ | 78,703 | $ | 166,519 | $ | 101,972 | $ | 62,273 | |||||||
Earnings per share: | |||||||||||||||
Basic: | |||||||||||||||
Income from continuing operations | $ | 0.22 | $ | 0.48 | $ | 0.29 | $ | 0.18 | |||||||
Net income attributable to common stockholders | 0.22 | 0.47 | 0.29 | 0.17 | |||||||||||
Diluted: | |||||||||||||||
Income from continuing operations | $ | 0.22 | $ | 0.47 | $ | 0.29 | $ | 0.18 | |||||||
Net income attributable to common stockholders | 0.22 | 0.46 | 0.28 | 0.17 | |||||||||||
Dividends declared per share | $ | 0.79 | $ | 0.79 | $ | 0.79 | $ | 0.7925 |
For the Year Ended December 31, 2017 | |||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||
(In thousands, except per share amounts) | |||||||||||||||
Revenues | $ | 883,443 | $ | 895,490 | $ | 899,928 | $ | 895,288 | |||||||
Income from continuing operations | $ | 199,201 | $ | 152,991 | $ | 615,210 | $ | 393,820 | |||||||
Discontinued operations | (53 | ) | (23 | ) | (19 | ) | (15 | ) | |||||||
Net income | 199,148 | 152,968 | 615,191 | 393,805 | |||||||||||
Net income attributable to noncontrolling interests | 1,021 | 1,137 | 1,233 | 1,251 | |||||||||||
Net income attributable to common stockholders | $ | 198,127 | $ | 151,831 | $ | 613,958 | $ | 392,554 | |||||||
Earnings per share: | |||||||||||||||
Basic: | |||||||||||||||
Income from continuing operations | $ | 0.56 | $ | 0.43 | $ | 1.73 | $ | 1.11 | |||||||
Net income attributable to common stockholders | 0.56 | 0.43 | 1.72 | 1.10 | |||||||||||
Diluted: | |||||||||||||||
Income from continuing operations | $ | 0.56 | $ | 0.43 | $ | 1.71 | $ | 1.10 | |||||||
Net income attributable to common stockholders | 0.55 | 0.42 | 1.71 | 1.09 | |||||||||||
Dividends declared per share | $ | 0.775 | $ | 0.775 | $ | 0.775 | $ | 0.79 |
For the Year Ended December 31, 2021 | |||||||||||||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Rental income | $ | 653,823 | $ | — | $ | 794,297 | $ | — | $ | 1,448,120 | |||||||||||||||||||
Resident fees and services | — | 2,270,001 | — | — | 2,270,001 | ||||||||||||||||||||||||
Office building and other services revenue | — | — | 8,384 | 11,712 | 20,096 | ||||||||||||||||||||||||
Income from loans and investments | — | — | — | 74,981 | 74,981 | ||||||||||||||||||||||||
Interest and other income | — | — | — | 14,809 | 14,809 | ||||||||||||||||||||||||
Total revenues | $ | 653,823 | $ | 2,270,001 | $ | 802,681 | $ | 101,502 | $ | 3,828,007 | |||||||||||||||||||
Total revenues | $ | 653,823 | $ | 2,270,001 | $ | 802,681 | $ | 101,502 | $ | 3,828,007 | |||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Interest and other income | — | — | — | 14,809 | 14,809 | ||||||||||||||||||||||||
Property-level operating expenses | 15,335 | 1,811,728 | 257,001 | — | 2,084,064 | ||||||||||||||||||||||||
Office building and other services costs | — | — | 1,798 | 2,635 | 4,433 | ||||||||||||||||||||||||
Segment NOI | $ | 638,488 | $ | 458,273 | $ | 543,882 | $ | 84,058 | 1,724,701 | ||||||||||||||||||||
Interest and other income | 14,809 | ||||||||||||||||||||||||||||
Interest expense | (440,089) | ||||||||||||||||||||||||||||
Depreciation and amortization | (1,197,403) | ||||||||||||||||||||||||||||
General, administrative and professional fees | (129,758) | ||||||||||||||||||||||||||||
Loss on extinguishment of debt, net | (59,299) | ||||||||||||||||||||||||||||
Transaction expenses and deal costs | (47,318) | ||||||||||||||||||||||||||||
Allowance on loans receivable and investments | 9,082 | ||||||||||||||||||||||||||||
Other | (37,110) | ||||||||||||||||||||||||||||
Income from unconsolidated entities | 4,983 | ||||||||||||||||||||||||||||
Gain on real estate dispositions | 218,788 | ||||||||||||||||||||||||||||
Income tax expense | (4,827) | ||||||||||||||||||||||||||||
Income from continuing operations | 56,559 | ||||||||||||||||||||||||||||
Net income | 56,559 | ||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | 7,551 | ||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 49,008 |
For the Year Ended December 31, 2018 | |||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues: | |||||||||||||||||||
Rental income | $ | 737,796 | $ | — | $ | 776,011 | $ | — | $ | 1,513,807 | |||||||||
Resident fees and services | — | 2,069,477 | — | — | 2,069,477 | ||||||||||||||
Office building and other services revenue | 2,522 | — | 7,592 | 3,302 | 13,416 | ||||||||||||||
Income from loans and investments | — | — | — | 124,218 | 124,218 | ||||||||||||||
Interest and other income | — | — | — | 24,892 | 24,892 | ||||||||||||||
Total revenues | $ | 740,318 | $ | 2,069,477 | $ | 783,603 | $ | 152,412 | $ | 3,745,810 | |||||||||
Total revenues | $ | 740,318 | $ | 2,069,477 | $ | 783,603 | $ | 152,412 | $ | 3,745,810 | |||||||||
Less: | |||||||||||||||||||
Interest and other income | — | — | — | 24,892 | 24,892 | ||||||||||||||
Property-level operating expenses | — | 1,446,201 | 243,679 | — | 1,689,880 | ||||||||||||||
Office building services costs | — | — | 1,418 | — | 1,418 | ||||||||||||||
Segment NOI | 740,318 | 623,276 | 538,506 | 127,520 | 2,029,620 | ||||||||||||||
(Loss) income from unconsolidated entities | (47,901 | ) | (4,465 | ) | 477 | (3,145 | ) | (55,034 | ) | ||||||||||
Segment profit | $ | 692,417 | $ | 618,811 | $ | 538,983 | $ | 124,375 | 1,974,586 | ||||||||||
Interest and other income | 24,892 | ||||||||||||||||||
Interest expense | (442,497 | ) | |||||||||||||||||
Depreciation and amortization | (919,639 | ) | |||||||||||||||||
General, administrative and professional fees | (151,982 | ) | |||||||||||||||||
Loss on extinguishment of debt, net | (58,254 | ) | |||||||||||||||||
Merger-related expenses and deal costs | (30,547 | ) | |||||||||||||||||
Other | (66,768 | ) | |||||||||||||||||
Gain on real estate dispositions | 46,247 | ||||||||||||||||||
Income tax benefit | 39,953 | ||||||||||||||||||
Income from continuing operations | $ | 415,991 |
For the Year Ended December 31, 2020 | |||||||||||||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Rental income | $ | 695,265 | $ | — | $ | 799,627 | $ | — | $ | 1,494,892 | |||||||||||||||||||
Resident fees and services | — | 2,197,160 | — | — | 2,197,160 | ||||||||||||||||||||||||
Office building and other services revenue | — | — | 8,675 | 6,516 | 15,191 | ||||||||||||||||||||||||
Income from loans and investments | — | — | — | 80,505 | 80,505 | ||||||||||||||||||||||||
Interest and other income | — | — | — | 7,609 | 7,609 | ||||||||||||||||||||||||
Total revenues | $ | 695,265 | $ | 2,197,160 | $ | 808,302 | $ | 94,630 | $ | 3,795,357 | |||||||||||||||||||
Total revenues | $ | 695,265 | $ | 2,197,160 | $ | 808,302 | $ | 94,630 | $ | 3,795,357 | |||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Interest and other income | — | — | — | 7,609 | 7,609 | ||||||||||||||||||||||||
Property-level operating expenses | 22,160 | 1,658,671 | 256,612 | — | 1,937,443 | ||||||||||||||||||||||||
Office building and other services costs | — | — | 2,315 | — | 2,315 | ||||||||||||||||||||||||
Segment NOI | $ | 673,105 | $ | 538,489 | $ | 549,375 | $ | 87,021 | 1,847,990 | ||||||||||||||||||||
Interest and other income | 7,609 | ||||||||||||||||||||||||||||
Interest expense | (469,541) | ||||||||||||||||||||||||||||
Depreciation and amortization | (1,109,763) | ||||||||||||||||||||||||||||
General, administrative and professional fees | (130,158) | ||||||||||||||||||||||||||||
Loss on extinguishment of debt, net | (10,791) | ||||||||||||||||||||||||||||
Transaction expenses and deal costs | (29,812) | ||||||||||||||||||||||||||||
Allowance on loans receivable and investments | (24,238) | ||||||||||||||||||||||||||||
Other | (707) | ||||||||||||||||||||||||||||
Income from unconsolidated entities | 1,844 | ||||||||||||||||||||||||||||
Gain on real estate dispositions | 262,218 | ||||||||||||||||||||||||||||
Income tax benefit | 96,534 | ||||||||||||||||||||||||||||
Income from continuing operations | 441,185 | ||||||||||||||||||||||||||||
Net income | 441,185 | ||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | 2,036 | ||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 439,149 |
For the Year Ended December 31, 2017 | |||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues: | |||||||||||||||||||
Rental income | $ | 840,131 | $ | — | $ | 753,467 | $ | — | $ | 1,593,598 | |||||||||
Resident fees and services | — | 1,843,232 | — | — | 1,843,232 | ||||||||||||||
Office building and other services revenue | 4,580 | — | 7,497 | 1,600 | 13,677 | ||||||||||||||
Income from loans and investments | — | — | — | 117,608 | 117,608 | ||||||||||||||
Interest and other income | — | — | — | 6,034 | 6,034 | ||||||||||||||
Total revenues | $ | 844,711 | $ | 1,843,232 | $ | 760,964 | $ | 125,242 | $ | 3,574,149 | |||||||||
Total revenues | $ | 844,711 | $ | 1,843,232 | $ | 760,964 | $ | 125,242 | $ | 3,574,149 | |||||||||
Less: | |||||||||||||||||||
Interest and other income | — | — | — | 6,034 | 6,034 | ||||||||||||||
Property-level operating expenses | — | 1,250,065 | 233,007 | — | 1,483,072 | ||||||||||||||
Office building services costs | — | — | 3,391 | — | 3,391 | ||||||||||||||
Segment NOI | 844,711 | 593,167 | 524,566 | 119,208 | 2,081,652 | ||||||||||||||
Income (loss) from unconsolidated entities | 845 | (61 | ) | 503 | (1,848 | ) | (561 | ) | |||||||||||
Segment profit | $ | 845,556 | $ | 593,106 | $ | 525,069 | $ | 117,360 | 2,081,091 | ||||||||||
Interest and other income | 6,034 | ||||||||||||||||||
Interest expense | (448,196 | ) | |||||||||||||||||
Depreciation and amortization | (887,948 | ) | |||||||||||||||||
General, administrative and professional fees | (135,490 | ) | |||||||||||||||||
Loss on extinguishment of debt, net | (754 | ) | |||||||||||||||||
Merger-related expenses and deal costs | (10,535 | ) | |||||||||||||||||
Other | (20,052 | ) | |||||||||||||||||
Gain on real estate dispositions | 717,273 | ||||||||||||||||||
Income tax benefit | 59,799 | ||||||||||||||||||
Income from continuing operations | $ | 1,361,222 |
For the Year Ended December 31, 2016 | |||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues: | |||||||||||||||||||
Rental income | $ | 845,834 | $ | — | $ | 630,342 | $ | — | $ | 1,476,176 | |||||||||
Resident fees and services | — | 1,847,306 | — | — | 1,847,306 | ||||||||||||||
Office building and other services revenue | 4,921 | — | 13,029 | 3,120 | 21,070 | ||||||||||||||
Income from loans and investments | — | — | — | 98,094 | 98,094 | ||||||||||||||
Interest and other income | — | — | — | 876 | 876 | ||||||||||||||
Total revenues | $ | 850,755 | $ | 1,847,306 | $ | 643,371 | $ | 102,090 | $ | 3,443,522 | |||||||||
Total revenues | $ | 850,755 | $ | 1,847,306 | $ | 643,371 | $ | 102,090 | $ | 3,443,522 | |||||||||
Less: | |||||||||||||||||||
Interest and other income | — | — | — | 876 | 876 | ||||||||||||||
Property-level operating expenses | — | 1,242,978 | 191,784 | — | 1,434,762 | ||||||||||||||
Office building services costs | — | — | 7,311 | — | 7,311 | ||||||||||||||
Segment NOI | 850,755 | 604,328 | 444,276 | 101,214 | 2,000,573 | ||||||||||||||
Income from unconsolidated entities | 2,363 | 1,265 | 590 | 140 | 4,358 | ||||||||||||||
Segment profit | $ | 853,118 | $ | 605,593 | $ | 444,866 | $ | 101,354 | 2,004,931 | ||||||||||
Interest and other income | 876 | ||||||||||||||||||
Interest expense | (419,740 | ) | |||||||||||||||||
Depreciation and amortization | (898,924 | ) | |||||||||||||||||
General, administrative and professional fees | (126,875 | ) | |||||||||||||||||
Loss on extinguishment of debt, net | (2,779 | ) | |||||||||||||||||
Merger-related expenses and deal costs | (24,635 | ) | |||||||||||||||||
Other | (9,988 | ) | |||||||||||||||||
Gain on real estate dispositions | 98,203 | ||||||||||||||||||
Income tax benefit | 31,343 | ||||||||||||||||||
Income from continuing operations | $ | 652,412 |
For the Year Ended December 31, 2019 | |||||||||||||||||||||||||||||
Triple-Net Leased Properties | Senior Living Operations | Office Operations | All Other | Total | |||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Rental income | $ | 780,898 | $ | — | $ | 828,978 | $ | — | $ | 1,609,876 | |||||||||||||||||||
Resident fees and services | — | 2,151,533 | — | — | 2,151,533 | ||||||||||||||||||||||||
Office building and other services revenue | — | — | 7,747 | 3,409 | 11,156 | ||||||||||||||||||||||||
Income from loans and investments | — | — | — | 89,201 | 89,201 | ||||||||||||||||||||||||
Interest and other income | — | — | — | 10,984 | 10,984 | ||||||||||||||||||||||||
Total revenues | $ | 780,898 | $ | 2,151,533 | $ | 836,725 | $ | 103,594 | $ | 3,872,750 | |||||||||||||||||||
Total revenues | $ | 780,898 | $ | 2,151,533 | $ | 836,725 | $ | 103,594 | $ | 3,872,750 | |||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Interest and other income | — | — | — | 10,984 | 10,984 | ||||||||||||||||||||||||
Property-level operating expenses | 26,561 | 1,521,398 | 260,249 | — | 1,808,208 | ||||||||||||||||||||||||
Office building and other services costs | — | — | 2,319 | — | 2,319 | ||||||||||||||||||||||||
Segment NOI | $ | 754,337 | $ | 630,135 | $ | 574,157 | $ | 92,610 | 2,051,239 | ||||||||||||||||||||
Interest and other income | 10,984 | ||||||||||||||||||||||||||||
Interest expense | (451,662) | ||||||||||||||||||||||||||||
Depreciation and amortization | (1,045,620) | ||||||||||||||||||||||||||||
General, administrative and professional fees | (158,726) | ||||||||||||||||||||||||||||
Loss on extinguishment of debt, net | (41,900) | ||||||||||||||||||||||||||||
Transaction expenses and deal costs | (15,235) | ||||||||||||||||||||||||||||
Other | 10,339 | ||||||||||||||||||||||||||||
Loss from unconsolidated entities | (2,454) | ||||||||||||||||||||||||||||
Gain on real estate dispositions | 26,022 | ||||||||||||||||||||||||||||
Income tax benefit | 56,310 | ||||||||||||||||||||||||||||
Income from continuing operations | 439,297 | ||||||||||||||||||||||||||||
Net income | 439,297 | ||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | 6,281 | ||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 433,016 |
As of December 31, | ||||||||||||||||||||||||||||||||||||
2018 | 2017 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | As of December 31, | |||||||||||||||||||||||||||||||||||
Assets: | Assets: | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Triple-net leased properties | $ | 6,795,142 | 30.1 | % | $ | 7,778,064 | 32.4 | % | Triple-net leased properties | $ | 4,578,534 | 18.5 | % | $ | 5,147,503 | 21.6 | % | |||||||||||||||||||
Senior living operations | 8,156,187 | 36.1 | 7,654,609 | 32.0 | Senior living operations | 12,811,611 | 51.8 | 10,653,428 | 44.5 | |||||||||||||||||||||||||||
Office operations | 6,772,957 | 30.0 | 6,897,696 | 28.8 | Office operations | 6,341,888 | 25.7 | 6,709,602 | 28.0 | |||||||||||||||||||||||||||
All other assets | 860,269 | 3.8 | 1,624,172 | 6.8 | All other assets | 985,753 | 4.0 | 1,418,871 | 5.9 | |||||||||||||||||||||||||||
Total assets | $ | 22,584,555 | 100.0 | % | $ | 23,954,541 | 100.0 | % | Total assets | $ | 24,717,786 | 100.0 | % | $ | 23,929,404 | 100.0 | % |
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2018 | 2017 | 2016 | ||||||||||||||||||||||||||
(In thousands) | For the Years Ended December 31, | |||||||||||||||||||||||||||
Capital expenditures: | Capital expenditures: | 2021 | 2020 | 2019 | ||||||||||||||||||||||||
Triple-net leased properties | $ | 58,744 | $ | 254,542 | $ | 74,192 | Triple-net leased properties | $ | 92,924 | $ | 42,930 | $ | 55,429 | |||||||||||||||
Senior living operations | 337,750 | 261,900 | 105,614 | Senior living operations | 1,463,551 | 191,891 | 944,214 | |||||||||||||||||||||
Office operations | 332,147 | 579,885 | 1,487,787 | Office operations | 245,546 | 372,475 | 519,129 | |||||||||||||||||||||
Total capital expenditures | $ | 728,641 | $ | 1,096,327 | $ | 1,667,593 | Total capital expenditures | $ | 1,802,021 | $ | 607,296 | $ | 1,518,772 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Revenues: | |||||||||||
United States | $ | 3,524,875 | $ | 3,361,682 | $ | 3,242,353 | |||||
Canada | 192,350 | 186,049 | 174,831 | ||||||||
United Kingdom | 28,585 | 26,418 | 26,338 | ||||||||
Total revenues | $ | 3,745,810 | $ | 3,574,149 | $ | 3,443,522 |
For the Years Ended December 31, | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2018 | 2017 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Net real estate property: | ||||||||||||||||||||||||
Revenues: | Revenues: | 2021 | 2020 | 2019 | ||||||||||||||||||||
United States | $ | 18,861,163 | $ | 19,253,724 | United States | $ | 3,363,197 | $ | 3,381,357 | $ | 3,578,341 | |||||||||||||
Canada | 963,588 | 1,070,903 | Canada | 434,862 | 389,205 | 266,946 | ||||||||||||||||||
United Kingdom | 268,906 | 297,827 | United Kingdom | 29,948 | 24,795 | 27,463 | ||||||||||||||||||
Total net real estate property | $ | 20,093,657 | $ | 20,622,454 | ||||||||||||||||||||
Total revenues | Total revenues | $ | 3,828,007 | $ | 3,795,357 | $ | 3,872,750 |
As of December 31, | |||||||||||
Net real estate property: | 2021 | 2020 | |||||||||
United States | $ | 18,562,738 | $ | 17,303,816 | |||||||
Canada | 3,007,008 | 2,983,924 | |||||||||
United Kingdom | 247,092 | 262,295 | |||||||||
Total net real estate property | $ | 21,816,838 | $ | 20,550,035 |
As of December 31, 2018 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Assets | |||||||||||||||||||
Net real estate investments | $ | 3,598 | $ | 112,691 | $ | 20,521,615 | $ | — | $ | 20,637,904 | |||||||||
Cash and cash equivalents | 6,470 | — | 65,807 | — | 72,277 | ||||||||||||||
Escrow deposits and restricted cash | 4,211 | 128 | 54,848 | — | 59,187 | ||||||||||||||
Investment in and advances to affiliates | 15,656,592 | 2,726,198 | — | (18,382,790 | ) | — | |||||||||||||
Goodwill | — | — | 1,050,548 | — | 1,050,548 | ||||||||||||||
Assets held for sale | — | — | 5,454 | — | 5,454 | ||||||||||||||
Other assets | 45,989 | 4,443 | 708,753 | — | 759,185 | ||||||||||||||
Total assets | $ | 15,716,860 | $ | 2,843,460 | $ | 22,407,025 | $ | (18,382,790 | ) | $ | 22,584,555 | ||||||||
Liabilities and equity | |||||||||||||||||||
Liabilities: | |||||||||||||||||||
Senior notes payable and other debt | $ | — | $ | 8,620,867 | $ | 2,112,832 | $ | — | $ | 10,733,699 | |||||||||
Intercompany loans | 8,580,896 | (5,629,764 | ) | (2,951,132 | ) | — | — | ||||||||||||
Accrued interest | (9,953 | ) | 85,717 | 23,903 | — | 99,667 | |||||||||||||
Accounts payable and other liabilities | 319,754 | 19,178 | 747,098 | — | 1,086,030 | ||||||||||||||
Liabilities related to assets held for sale | — | — | 205 | — | 205 | ||||||||||||||
Deferred income taxes | 608 | — | 204,611 | — | 205,219 | ||||||||||||||
Total liabilities | 8,891,305 | 3,095,998 | 137,517 | — | 12,124,820 | ||||||||||||||
Redeemable OP Unitholder and noncontrolling interests | 13,746 | — | 174,395 | — | 188,141 | ||||||||||||||
Total equity | 6,811,809 | (252,538 | ) | 22,095,113 | (18,382,790 | ) | 10,271,594 | ||||||||||||
Total liabilities and equity | $ | 15,716,860 | $ | 2,843,460 | $ | 22,407,025 | $ | (18,382,790 | ) | $ | 22,584,555 |
As of December 31, 2017 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Assets | |||||||||||||||||||
Net real estate investments | $ | 1,844 | $ | 119,508 | $ | 21,971,100 | $ | — | $ | 22,092,452 | |||||||||
Cash and cash equivalents | 7,129 | — | 74,226 | — | 81,355 | ||||||||||||||
Escrow deposits and restricted cash | 39,816 | 128 | 66,954 | — | 106,898 | ||||||||||||||
Investment in and advances to affiliates | 14,790,537 | 2,916,060 | — | (17,706,597 | ) | — | |||||||||||||
Goodwill | — | — | 1,034,644 | — | 1,034,644 | ||||||||||||||
Assets held for sale | — | — | 65,413 | — | 65,413 | ||||||||||||||
Other assets | 55,936 | 9,458 | 508,385 | — | 573,779 | ||||||||||||||
Total assets | $ | 14,895,262 | $ | 3,045,154 | $ | 23,720,722 | $ | (17,706,597 | ) | $ | 23,954,541 | ||||||||
Liabilities and equity | |||||||||||||||||||
Liabilities: | |||||||||||||||||||
Senior notes payable and other debt | $ | — | $ | 8,895,641 | $ | 2,380,421 | $ | — | $ | 11,276,062 | |||||||||
Intercompany loans | 7,838,898 | (7,127,547 | ) | (711,351 | ) | — | — | ||||||||||||
Accrued interest | (6,410 | ) | 77,691 | 22,677 | — | 93,958 | |||||||||||||
Accounts payable and other liabilities | 377,536 | 24,635 | 781,318 | — | 1,183,489 | ||||||||||||||
Liabilities related to assets held for sale | — | — | 60,265 | — | 60,265 | ||||||||||||||
Deferred income taxes | 608 | — | 249,484 | — | 250,092 | ||||||||||||||
Total liabilities | 8,210,632 | 1,870,420 | 2,782,814 | — | 12,863,866 | ||||||||||||||
Redeemable OP Unitholder and noncontrolling interests | 12,237 | — | 146,253 | — | 158,490 | ||||||||||||||
Total equity | 6,672,393 | 1,174,734 | 20,791,655 | (17,706,597 | ) | 10,932,185 | |||||||||||||
Total liabilities and equity | $ | 14,895,262 | $ | 3,045,154 | $ | 23,720,722 | $ | (17,706,597 | ) | $ | 23,954,541 |
For the Year Ended December 31, 2018 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues | |||||||||||||||||||
Rental income | $ | 1,407 | $ | 139,043 | $ | 1,373,357 | $ | — | $ | 1,513,807 | |||||||||
Resident fees and services | — | — | 2,069,477 | — | 2,069,477 | ||||||||||||||
Office building and other services revenues | — | — | 13,416 | — | 13,416 | ||||||||||||||
Income from loans and investments | 1,640 | — | 122,578 | — | 124,218 | ||||||||||||||
Equity earnings in affiliates | 308,764 | — | (2,696 | ) | (306,068 | ) | — | ||||||||||||
Interest and other income | 23,802 | 19 | 1,071 | — | 24,892 | ||||||||||||||
Total revenues | 335,613 | 139,062 | 3,577,203 | (306,068 | ) | 3,745,810 | |||||||||||||
Expenses | |||||||||||||||||||
Interest | (98,411 | ) | 327,898 | 213,010 | — | 442,497 | |||||||||||||
Depreciation and amortization | 5,425 | 5,680 | 908,534 | — | 919,639 | ||||||||||||||
Property-level operating expenses | — | 283 | 1,689,597 | — | 1,689,880 | ||||||||||||||
Office building services costs | — | — | 1,418 | — | 1,418 | ||||||||||||||
General, administrative and professional fees | (2,866 | ) | 18,845 | 136,003 | — | 151,982 | |||||||||||||
Loss on extinguishment of debt, net | 355 | 55,910 | 1,989 | — | 58,254 | ||||||||||||||
Merger-related expenses and deal costs | 25,880 | — | 4,667 | — | 30,547 | ||||||||||||||
Other | 4,881 | 3 | 61,884 | — | 66,768 | ||||||||||||||
Total expenses | (64,736 | ) | 408,619 | 3,017,102 | — | 3,360,985 | |||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interests | 400,349 | (269,557 | ) | 560,101 | (306,068 | ) | 384,825 | ||||||||||||
Loss from unconsolidated entities | — | — | (55,034 | ) | — | (55,034 | ) | ||||||||||||
Gain on real estate dispositions | 6,653 | — | 39,594 | — | 46,247 | ||||||||||||||
Income tax benefit | 2,475 | — | 37,478 | — | 39,953 | ||||||||||||||
Income (loss) from continuing operations | 409,477 | (269,557 | ) | 582,139 | (306,068 | ) | 415,991 | ||||||||||||
Discontinued operations | (10 | ) | — | — | — | (10 | ) | ||||||||||||
Net income (loss) | 409,467 | (269,557 | ) | 582,139 | (306,068 | ) | 415,981 | ||||||||||||
Net income attributable to noncontrolling interests | — | — | 6,514 | — | 6,514 | ||||||||||||||
Net income (loss) attributable to common stockholders | $ | 409,467 | $ | (269,557 | ) | $ | 575,625 | $ | (306,068 | ) | $ | 409,467 |
For the Year Ended December 31, 2017 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues | |||||||||||||||||||
Rental income | $ | 2,383 | $ | 178,165 | $ | 1,413,050 | $ | — | $ | 1,593,598 | |||||||||
Resident fees and services | — | — | 1,843,232 | — | 1,843,232 | ||||||||||||||
Office building and other services revenues | — | — | 13,677 | — | 13,677 | ||||||||||||||
Income from loans and investments | 1,236 | — | 116,372 | — | 117,608 | ||||||||||||||
Equity earnings in affiliates | 1,260,665 | — | 5,086 | (1,265,751 | ) | — | |||||||||||||
Interest and other income | 5,388 | — | 646 | — | 6,034 | ||||||||||||||
Total revenues | 1,269,672 | 178,165 | 3,392,063 | (1,265,751 | ) | 3,574,149 | |||||||||||||
Expenses | |||||||||||||||||||
Interest | (101,385 | ) | 319,632 | 229,949 | — | 448,196 | |||||||||||||
Depreciation and amortization | 5,483 | 7,510 | 874,955 | — | 887,948 | ||||||||||||||
Property-level operating expenses | — | 330 | 1,482,742 | — | 1,483,072 | ||||||||||||||
Office building services costs | — | — | 3,391 | — | 3,391 | ||||||||||||||
General, administrative and professional fees | 2,040 | 16,976 | 116,474 | — | 135,490 | ||||||||||||||
Loss (gain) on extinguishment of debt, net | — | 942 | (188 | ) | — | 754 | |||||||||||||
Merger-related expenses and deal costs | 9,796 | — | 739 | — | 10,535 | ||||||||||||||
Other | 2,247 | 1 | 17,804 | — | 20,052 | ||||||||||||||
Total expenses | (81,819 | ) | 345,391 | 2,725,866 | — | 2,989,438 | |||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interests | 1,351,491 | (167,226 | ) | 666,197 | (1,265,751 | ) | 584,711 | ||||||||||||
Loss from unconsolidated entities | — | — | (561 | ) | — | (561 | ) | ||||||||||||
Gain on real estate dispositions | — | 675,808 | 41,465 | — | 717,273 | ||||||||||||||
Income tax benefit | 5,089 | — | 54,710 | — | 59,799 | ||||||||||||||
Income from continuing operations | 1,356,580 | 508,582 | 761,811 | (1,265,751 | ) | 1,361,222 | |||||||||||||
Discontinued operations | (110 | ) | — | — | — | (110 | ) | ||||||||||||
Net income | 1,356,470 | 508,582 | 761,811 | (1,265,751 | ) | 1,361,112 | |||||||||||||
Net income attributable to noncontrolling interests | — | — | 4,642 | — | 4,642 | ||||||||||||||
Net income attributable to common stockholders | $ | 1,356,470 | $ | 508,582 | $ | 757,169 | $ | (1,265,751 | ) | $ | 1,356,470 |
For the Year Ended December 31, 2016 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenues | |||||||||||||||||||
Rental income | $ | 2,670 | $ | 196,991 | $ | 1,276,515 | $ | — | $ | 1,476,176 | |||||||||
Resident fees and services | — | — | 1,847,306 | — | 1,847,306 | ||||||||||||||
Office building and other services revenues | 1,605 | — | 19,465 | — | 21,070 | ||||||||||||||
Income from loans and investments | 341 | — | 97,753 | — | 98,094 | ||||||||||||||
Equity earnings in affiliates | 626,644 | — | (603 | ) | (626,041 | ) | — | ||||||||||||
Interest and other income | 665 | — | 211 | — | 876 | ||||||||||||||
Total revenues | 631,925 | 196,991 | 3,240,647 | (626,041 | ) | 3,443,522 | |||||||||||||
Expenses | |||||||||||||||||||
Interest | (46,820 | ) | 281,458 | 185,102 | — | 419,740 | |||||||||||||
Depreciation and amortization | 8,968 | 18,297 | 871,659 | — | 898,924 | ||||||||||||||
Property-level operating expenses | — | 317 | 1,434,445 | — | 1,434,762 | ||||||||||||||
Office building services costs | — | — | 7,311 | — | 7,311 | ||||||||||||||
General, administrative and professional fees | 498 | 18,320 | 108,057 | — | 126,875 | ||||||||||||||
Loss on extinguishment of debt, net | 58 | 2,711 | 10 | — | 2,779 | ||||||||||||||
Merger-related expenses and deal costs | 23,067 | — | 1,568 | — | 24,635 | ||||||||||||||
Other | (705 | ) | 41 | 10,652 | — | 9,988 | |||||||||||||
Total expenses | (14,934 | ) | 321,144 | 2,618,804 | — | 2,925,014 | |||||||||||||
Income (loss) before unconsolidated entities, real estate dispositions, income taxes, discontinued operations and noncontrolling interests | 646,859 | (124,153 | ) | 621,843 | (626,041 | ) | 518,508 | ||||||||||||
Income from unconsolidated entities | — | — | 4,358 | — | 4,358 | ||||||||||||||
Gain on real estate dispositions | 299 | 63,821 | 34,083 | — | 98,203 | ||||||||||||||
Income tax benefit | 2,994 | — | 28,349 | — | 31,343 | ||||||||||||||
Income (loss) from continuing operations | 650,152 | (60,332 | ) | 688,633 | (626,041 | ) | 652,412 | ||||||||||||
Discontinued operations | (921 | ) | — | (1 | ) | — | (922 | ) | |||||||||||
Net income (loss) | 649,231 | (60,332 | ) | 688,632 | (626,041 | ) | 651,490 | ||||||||||||
Net income attributable to noncontrolling interests | — | — | 2,259 | — | 2,259 | ||||||||||||||
Net income (loss) attributable to common stockholders | $ | 649,231 | $ | (60,332 | ) | $ | 686,373 | $ | (626,041 | ) | $ | 649,231 |
For the Year Ended December 31, 2018 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net income (loss) | $ | 409,467 | $ | (269,557 | ) | $ | 582,139 | $ | (306,068 | ) | $ | 415,981 | |||||||
Other comprehensive income: | |||||||||||||||||||
Foreign currency translation | — | — | (9,436 | ) | — | (9,436 | ) | ||||||||||||
Unrealized gain on government-sponsored pooled loan investments | — | — | 14,944 | — | 14,944 | ||||||||||||||
Derivative instruments | — | — | 10,030 | — | 10,030 | ||||||||||||||
Total other comprehensive income | — | — | 15,538 | — | 15,538 | ||||||||||||||
Comprehensive income (loss) | 409,467 | (269,557 | ) | 597,677 | (306,068 | ) | 431,519 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | 6,514 | — | 6,514 | ||||||||||||||
Comprehensive income (loss) attributable to common stockholders | $ | 409,467 | $ | (269,557 | ) | $ | 591,163 | $ | (306,068 | ) | $ | 425,005 |
For the Year Ended December 31, 2017 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net income | $ | 1,356,470 | $ | 508,582 | $ | 761,811 | $ | (1,265,751 | ) | $ | 1,361,112 | ||||||||
Other comprehensive income: | |||||||||||||||||||
Foreign currency translation | — | — | 20,612 | — | 20,612 | ||||||||||||||
Unrealized loss on government-sponsored pooled loan investments | — | — | (437 | ) | — | (437 | ) | ||||||||||||
Derivative instruments | — | — | 2,239 | — | 2,239 | ||||||||||||||
Total other comprehensive income | — | — | 22,414 | — | 22,414 | ||||||||||||||
Comprehensive income | 1,356,470 | 508,582 | 784,225 | (1,265,751 | ) | 1,383,526 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | 4,642 | — | 4,642 | ||||||||||||||
Comprehensive income attributable to common stockholders | $ | 1,356,470 | $ | 508,582 | $ | 779,583 | $ | (1,265,751 | ) | $ | 1,378,884 |
For the Year Ended December 31, 2016 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net income (loss) | $ | 649,231 | $ | (60,332 | ) | $ | 688,632 | $ | (626,041 | ) | $ | 651,490 | |||||||
Other comprehensive loss: | |||||||||||||||||||
Foreign currency translation | — | — | (52,266 | ) | — | (52,266 | ) | ||||||||||||
Unrealized loss on government-sponsored pooled loan investments | — | (310 | ) | — | (310 | ) | |||||||||||||
Derivative instruments | — | — | 2,607 | — | 2,607 | ||||||||||||||
Total other comprehensive loss | — | — | (49,969 | ) | — | (49,969 | ) | ||||||||||||
Comprehensive income (loss) | 649,231 | (60,332 | ) | 638,663 | (626,041 | ) | 601,521 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | 2,259 | — | 2,259 | ||||||||||||||
Comprehensive income (loss) attributable to common stockholders | $ | 649,231 | $ | (60,332 | ) | $ | 636,404 | $ | (626,041 | ) | $ | 599,262 |
For the Year Ended December 31, 2018 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 45,334 | $ | (194,283 | ) | $ | 1,530,416 | $ | — | $ | 1,381,467 | ||||||||
Cash flows from investing activities: | |||||||||||||||||||
Net investment in real estate property | (265,907 | ) | — | — | — | (265,907 | ) | ||||||||||||
Investment in loans receivable and other | (4,307 | ) | — | (225,227 | ) | — | (229,534 | ) | |||||||||||
Proceeds from real estate disposals | 353,792 | — | — | — | 353,792 | ||||||||||||||
Proceeds from loans receivable | 1,490 | — | 910,050 | — | 911,540 | ||||||||||||||
Development project expenditures | — | — | (330,876 | ) | — | (330,876 | ) | ||||||||||||
Capital expenditures | — | (1,199 | ) | (130,659 | ) | — | (131,858 | ) | |||||||||||
Distributions from unconsolidated entities | — | — | 57,455 | — | 57,455 | ||||||||||||||
Investment in unconsolidated entities | — | — | (47,007 | ) | — | (47,007 | ) | ||||||||||||
Insurance proceeds for property damage claims | 6,891 | — | 6,891 | ||||||||||||||||
Net cash provided by (used in) investing activities | 85,068 | (1,199 | ) | 240,627 | — | 324,496 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Net change in borrowings under revolving credit facilities | — | 326,620 | (5,157 | ) | — | 321,463 | |||||||||||||
Proceeds from debt | — | 2,309,141 | 240,332 | — | 2,549,473 | ||||||||||||||
Repayment of debt | — | (2,954,654 | ) | (510,925 | ) | — | (3,465,579 | ) | |||||||||||
Purchase of noncontrolling interests | (8,271 | ) | — | 3,547 | — | (4,724 | ) | ||||||||||||
Net change in intercompany debt | 1,468,811 | 530,236 | (1,999,047 | ) | — | — | |||||||||||||
Payment of deferred financing costs | — | (15,861 | ) | (4,751 | ) | — | (20,612 | ) | |||||||||||
Cash distribution (to) from affiliates | (490,214 | ) | — | 490,214 | — | — | |||||||||||||
Cash distribution to common stockholders | (1,127,143 | ) | — | — | — | (1,127,143 | ) | ||||||||||||
Cash distribution to redeemable OP Unitholders | — | — | (7,459 | ) | — | (7,459 | ) | ||||||||||||
Purchases of redeemable OP Units | — | — | (1,370 | ) | — | (1,370 | ) | ||||||||||||
Contributions from noncontrolling interests | — | — | 1,883 | — | 1,883 | ||||||||||||||
Distributions to noncontrolling interests | — | — | (11,574 | ) | — | (11,574 | ) | ||||||||||||
Other | 3,705 | — | — | — | 3,705 | ||||||||||||||
Net cash (used in) provided by financing activities | (153,112 | ) | 195,482 | (1,804,307 | ) | — | (1,761,937 | ) | |||||||||||
Net decrease in cash, cash equivalents and restricted cash | (22,710 | ) | — | (33,264 | ) | — | (55,974 | ) | |||||||||||
Effect of foreign currency translation | (13,554 | ) | — | 12,739 | — | (815 | ) | ||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 46,945 | 128 | 141,180 | — | 188,253 | ||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 10,681 | $ | 128 | $ | 120,655 | $ | — | $ | 131,464 |
For the Year Ended December 31, 2017 | |||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | |||||||||||||||
(In thousands) | |||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 149,923 | $ | (143,960 | ) | $ | 1,422,789 | $ | — | $ | 1,428,752 | ||||||||
Cash flows from investing activities: | |||||||||||||||||||
Net investment in real estate property | (635,352 | ) | — | (29,332 | ) | — | (664,684 | ) | |||||||||||
Investment in loans receivable and other | (4,633 | ) | — | (743,486 | ) | — | (748,119 | ) | |||||||||||
Proceeds from real estate disposals | 859,587 | — | 287 | — | 859,874 | ||||||||||||||
Proceeds from loans receivable | 47 | — | 101,050 | — | 101,097 | ||||||||||||||
Development project expenditures | — | — | (299,085 | ) | — | (299,085 | ) | ||||||||||||
Capital expenditures | — | (726 | ) | (131,832 | ) | — | (132,558 | ) | |||||||||||
Distributions from unconsolidated entities | — | — | 6,169 | — | 6,169 | ||||||||||||||
Investment in unconsolidated entities | — | — | (61,220 | ) | — | (61,220 | ) | ||||||||||||
Insurance proceeds for property damage claims | — | — | 1,419 | — | 1,419 | ||||||||||||||
Net cash provided by (used in) investing activities | 219,649 | (726 | ) | (1,156,030 | ) | — | (937,107 | ) | |||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Net change in borrowings under unsecured revolving credit facility | — | 478,868 | (94,085 | ) | — | 384,783 | |||||||||||||
Proceeds from debt | — | 793,904 | 317,745 | — | 1,111,649 | ||||||||||||||
Repayment of debt | — | (778,606 | ) | (590,478 | ) | — | (1,369,084 | ) | |||||||||||
Net change in intercompany debt | 1,003,315 | (917,917 | ) | (85,398 | ) | — | — | ||||||||||||
Purchase of noncontrolling interests | (15,809 | ) | — | — | — | (15,809 | ) | ||||||||||||
Payment of deferred financing costs | — | (20,450 | ) | (6,847 | ) | — | (27,297 | ) | |||||||||||
Issuance of common stock, net | 73,596 | — | — | — | 73,596 | ||||||||||||||
Cash distribution (to) from affiliates | (803,257 | ) | 587,511 | 215,746 | — | — | |||||||||||||
Cash distribution to common stockholders | (827,285 | ) | — | — | — | (827,285 | ) | ||||||||||||
Cash distribution to redeemable OP Unitholders | — | — | (5,677 | ) | — | (5,677 | ) | ||||||||||||
Contributions from noncontrolling interests | — | — | 4,402 | — | 4,402 | ||||||||||||||
Distributions to noncontrolling interests | — | — | (11,187 | ) | — | (11,187 | ) | ||||||||||||
Other | 10,582 | — | — | — | 10,582 | ||||||||||||||
Net cash (used in) provided by financing activities | (558,858 | ) | 143,310 | (255,779 | ) | — | (671,327 | ) | |||||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (189,286 | ) | (1,376 | ) | 10,980 | — | (179,682 | ) | |||||||||||
Effect of foreign currency translation | 28,442 | — | (27,861 | ) | — | 581 | |||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 207,789 | 1,504 | 158,061 | — | 367,354 | ||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 46,945 | $ | 128 | $ | 141,180 | $ | — | $ | 188,253 |
For the Year Ended December 31, 2016 | ||||||||||||||||||||
Ventas, Inc. | Ventas Realty | Ventas Subsidiaries | Consolidated Elimination | Consolidated | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 68,567 | $ | (93,005 | ) | $ | 1,379,140 | $ | — | $ | 1,354,702 | |||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Net investment in real estate property | (1,455,184 | ) | — | 41,589 | — | (1,413,595 | ) | |||||||||||||
Investment in loans receivable and other | — | — | (158,635 | ) | — | (158,635 | ) | |||||||||||||
Proceeds from real estate disposals | 257,441 | — | 43,120 | — | 300,561 | |||||||||||||||
Proceeds from loans receivable | — | — | 320,082 | — | 320,082 | |||||||||||||||
Development project expenditures | — | — | (143,647 | ) | — | (143,647 | ) | |||||||||||||
Capital expenditures | — | (314 | ) | (117,142 | ) | — | (117,456 | ) | ||||||||||||
Investment in unconsolidated entities | — | — | (6,436 | ) | — | (6,436 | ) | |||||||||||||
Insurance proceeds for property damage claims | — | — | 4,846 | — | 4,846 | |||||||||||||||
Net cash used in investing activities | (1,197,743 | ) | (314 | ) | (16,223 | ) | — | (1,214,280 | ) | |||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Net change in borrowings under unsecured revolving credit facility | — | (171,000 | ) | 135,363 | — | (35,637 | ) | |||||||||||||
Proceeds from debt | — | 846,521 | 46,697 | — | 893,218 | |||||||||||||||
Repayment of debt | — | (651,820 | ) | (370,293 | ) | — | (1,022,113 | ) | ||||||||||||
Net change in intercompany debt | 990,969 | 84,627 | (1,075,596 | ) | — | — | ||||||||||||||
Purchase of noncontrolling interests | — | — | (2,846 | ) | — | (2,846 | ) | |||||||||||||
Payment of deferred financing costs | — | (5,787 | ) | (768 | ) | — | (6,555 | ) | ||||||||||||
Issuance of common stock, net | 1,286,680 | — | — | — | 1,286,680 | |||||||||||||||
Cash distribution from (to) affiliates | 107,289 | (9,362 | ) | (97,927 | ) | — | — | |||||||||||||
Cash distribution to common stockholders | (1,024,968 | ) | — | — | — | (1,024,968 | ) | |||||||||||||
Cash distribution to redeemable OP Unitholders | — | — | — | (8,640 | ) | — | (8,640 | ) | ||||||||||||
Purchases of redeemable OP and Class C Units | — | — | — | — | — | |||||||||||||||
Contributions from noncontrolling interests | — | — | 7,326 | — | 7,326 | |||||||||||||||
Distributions to noncontrolling interests | — | — | (6,879 | ) | — | (6,879 | ) | |||||||||||||
Other | 17,252 | — | — | — | 17,252 | |||||||||||||||
Net cash provided by (used in) financing activities | 1,377,222 | 93,179 | (1,373,563 | ) | — | 96,838 | ||||||||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 248,046 | (140 | ) | (10,646 | ) | — | 237,260 | |||||||||||||
Effect of foreign currency translation | (56,389 | ) | — | 55,564 | — | (825 | ) | |||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 16,132 | 1,644 | 113,143 | — | 130,919 | |||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 207,789 | $ | 1,504 | $ | 158,061 | $ | — | $ | 367,354 |
Allowance Accounts | Additions | Deductions | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Year Ended December 31, | Balance at Beginning of Year | Charged to Earnings | Acquired Properties | Uncollectible Accounts Written-off | Disposed Properties | Balance at End of Year | ||||||||||||||
2018 | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 15,164 | 10,708 | 3,515 | (7,533 | ) | (9 | ) | $ | 21,845 | ||||||||||
Straight-line rent receivable allowance (1) | $ | 117,764 | (71,543 | ) | — | — | (1,576 | ) | $ | 44,645 | ||||||||||
$ | 132,928 | (60,835 | ) | 3,515 | (7,533 | ) | (1,585 | ) | $ | 66,490 | ||||||||||
2017 | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 11,637 | 7,207 | — | (3,237 | ) | (443 | ) | $ | 15,164 | ||||||||||
Straight-line rent receivable allowance | $ | 109,836 | 8,540 | — | — | (612 | ) | $ | 117,764 | |||||||||||
$ | 121,473 | 15,747 | — | (3,237 | ) | (1,055 | ) | $ | 132,928 | |||||||||||
2016 | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 13,545 | 3,773 | — | (5,790 | ) | 109 | $ | 11,637 | |||||||||||
Straight-line rent receivable allowance | $ | 101,417 | 9,682 | — | — | (1,263 | ) | $ | 109,836 | |||||||||||
$ | 114,962 | 13,455 | — | (5,790 | ) | (1,154 | ) | $ | 121,473 |
For the Years Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Reconciliation of real estate: | |||||||||||||||||
Carrying cost: | |||||||||||||||||
Balance at beginning of period | $ | 26,850,442 | $ | 27,133,514 | $ | 24,973,983 | |||||||||||
Additions during period: | |||||||||||||||||
Acquisitions | 2,413,570 | 249,290 | 1,941,018 | ||||||||||||||
Capital expenditures | 423,752 | 485,479 | 575,624 | ||||||||||||||
Deductions during period: | |||||||||||||||||
Foreign currency translation | 17,030 | 80,302 | 107,508 | ||||||||||||||
Other (1) | (1,224,924) | (1,098,143) | (464,619) | ||||||||||||||
Balance at end of period | $ | 28,479,870 | $ | 26,850,442 | $ | 27,133,514 | |||||||||||
Accumulated depreciation: | |||||||||||||||||
Balance at beginning of period | $ | 6,967,413 | $ | 6,200,230 | $ | 5,492,310 | |||||||||||
Additions during period: | |||||||||||||||||
Depreciation expense | 865,627 | 809,067 | 811,936 | ||||||||||||||
Dispositions: | |||||||||||||||||
Sales and/or transfers to assets held for sale | (401,208) | (82,559) | (116,771) | ||||||||||||||
Foreign currency translation | 1,648 | 40,675 | 12,755 | ||||||||||||||
Balance at end of period | $ | 7,433,480 | $ | 6,967,413 | $ | 6,200,230 |
For the Years Ended December 31, | |||||||||||
2018 | 2017 | 2016 | |||||||||
(In thousands) | |||||||||||
Reconciliation of real estate: | |||||||||||
Carrying cost: | |||||||||||
Balance at beginning of period | $ | 24,712,478 | $ | 23,859,816 | $ | 22,500,638 | |||||
Additions during period: | |||||||||||
Acquisitions | 318,895 | 702,501 | 1,380,044 | ||||||||
Capital expenditures | 446,490 | 453,829 | 271,288 | ||||||||
Deductions during period: | |||||||||||
Foreign currency translation | (105,192 | ) | 93,490 | (6,252 | ) | ||||||
Other(1) | (398,688 | ) | (397,158 | ) | (285,902 | ) | |||||
Balance at end of period | $ | 24,973,983 | $ | 24,712,478 | $ | 23,859,816 | |||||
Accumulated depreciation: | |||||||||||
Balance at beginning of period | $ | 4,802,917 | $ | 4,208,010 | $ | 3,562,139 | |||||
Additions during period: | |||||||||||
Depreciation expense | 791,882 | 760,314 | 732,309 | ||||||||
Dispositions: | |||||||||||
Sales and/or transfers to assets held for sale | (84,819 | ) | (176,918 | ) | (87,431 | ) | |||||
Foreign currency translation | (17,670 | ) | 11,511 | 993 | |||||||
Balance at end of period | $ | 5,492,310 | $ | 4,802,917 | $ | 4,208,010 |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
IRFS AND LTACS | ||||||||||||||||||||||||||||||||
Rehabilitation Hospital of Southern Arizona | Tucson | AZ | $ | — | $ | 770 | $ | 25,589 | $ | — | $ | 770 | $ | 25,589 | $ | 26,359 | $ | 5,654 | $ | 20,705 | 1992 | 2011 | 35 years | |||||||||
Kindred Hospital - Brea | Brea | CA | — | 3,144 | 2,611 | — | 3,144 | 2,611 | 5,755 | 1,536 | 4,219 | 1990 | 1995 | 40 years | ||||||||||||||||||
Kindred Hospital - Ontario | Ontario | CA | — | 523 | 2,988 | — | 523 | 2,988 | 3,511 | 3,172 | 339 | 1950 | 1994 | 25 years | ||||||||||||||||||
Kindred Hospital - San Diego | San Diego | CA | — | 670 | 11,764 | — | 670 | 11,764 | 12,434 | 11,914 | 520 | 1965 | 1994 | 25 years | ||||||||||||||||||
Kindred Hospital - San Francisco Bay Area | San Leandro | CA | — | 2,735 | 5,870 | — | 2,735 | 5,870 | 8,605 | 6,164 | 2,441 | 1962 | 1993 | 25 years | ||||||||||||||||||
Tustin Rehabilitation Hospital | Tustin | CA | — | 2,810 | 25,248 | — | 2,810 | 25,248 | 28,058 | 5,686 | 22,372 | 1991 | 2011 | 35 years | ||||||||||||||||||
Kindred Hospital - Westminster | Westminster | CA | — | 727 | 7,384 | — | 727 | 7,384 | 8,111 | 7,562 | 549 | 1973 | 1993 | 20 years | ||||||||||||||||||
Kindred Hospital - Denver | Denver | CO | — | 896 | 6,367 | — | 896 | 6,367 | 7,263 | 6,712 | 551 | 1963 | 1994 | 20 years | ||||||||||||||||||
Kindred Hospital - South Florida - Coral Gables | Coral Gables | FL | — | 1,071 | 5,348 | (1,000 | ) | 71 | 5,348 | 5,419 | 5,102 | 317 | 1956 | 1992 | 30 years | |||||||||||||||||
Kindred Hospital - South Florida Ft. Lauderdale | Fort Lauderdale | FL | — | 1,758 | 14,080 | — | 1,758 | 14,080 | 15,838 | 14,119 | 1,719 | 1969 | 1989 | 30 years | ||||||||||||||||||
Kindred Hospital - North Florida | Green Cove Springs | FL | — | 145 | 4,613 | — | 145 | 4,613 | 4,758 | 4,683 | 75 | 1956 | 1994 | 20 years | ||||||||||||||||||
Kindred Hospital - South Florida - Hollywood | Hollywood | FL | — | 605 | 5,229 | — | 605 | 5,229 | 5,834 | 5,234 | 600 | 1937 | 1995 | 20 years | ||||||||||||||||||
Kindred Hospital - Bay Area St. Petersburg | St. Petersburg | FL | — | 1,401 | 16,706 | — | 1,401 | 16,706 | 18,107 | 14,919 | 3,188 | 1968 | 1997 | 40 years | ||||||||||||||||||
Kindred Hospital - Central Tampa | Tampa | FL | — | 2,732 | 7,676 | — | 2,732 | 7,676 | 10,408 | 5,471 | 4,937 | 1970 | 1993 | 40 years | ||||||||||||||||||
Kindred Hospital - Chicago (North Campus) | Chicago | IL | — | 1,583 | 19,980 | — | 1,583 | 19,980 | 21,563 | 19,857 | 1,706 | 1949 | 1995 | 25 years | ||||||||||||||||||
Kindred - Chicago - Lakeshore | Chicago | IL | — | 1,513 | 9,525 | — | 1,513 | 9,525 | 11,038 | 9,477 | 1,561 | 1995 | 1976 | 20 years | ||||||||||||||||||
Kindred Hospital - Chicago (Northlake Campus) | Northlake | IL | — | 850 | 6,498 | — | 850 | 6,498 | 7,348 | 6,375 | 973 | 1960 | 1991 | 30 years | ||||||||||||||||||
Kindred Hospital - Sycamore | Sycamore | IL | — | 77 | 8,549 | — | 77 | 8,549 | 8,626 | 8,350 | 276 | 1949 | 1993 | 20 years | ||||||||||||||||||
Kindred Hospital - Indianapolis | Indianapolis | IN | — | 985 | 3,801 | — | 985 | 3,801 | 4,786 | 3,670 | 1,116 | 1955 | 1993 | 30 years | ||||||||||||||||||
Kindred Hospital - Louisville | Louisville | KY | — | 3,041 | 12,279 | — | 3,041 | 12,279 | 15,320 | 12,560 | 2,760 | 1964 | 1995 | 20 years | ||||||||||||||||||
Kindred Hospital - St. Louis | St. Louis | MO | — | 1,126 | 2,087 | — | 1,126 | 2,087 | 3,213 | 1,984 | 1,229 | 1984 | 1991 | 40 years | ||||||||||||||||||
Kindred Hospital - Las Vegas (Sahara) | Las Vegas | NV | — | 1,110 | 2,177 | — | 1,110 | 2,177 | 3,287 | 1,496 | 1,791 | 1980 | 1994 | 40 years | ||||||||||||||||||
Lovelace Rehabilitation Hospital | Albuquerque | NM | — | 401 | 17,186 | 1,689 | 401 | 18,875 | 19,276 | 1,990 | 17,286 | 1989 | 2015 | 36 years | ||||||||||||||||||
Kindred Hospital - Albuquerque | Albuquerque | NM | — | 11 | 4,253 | — | 11 | 4,253 | 4,264 | 3,043 | 1,221 | 1985 | 1993 | 40 years | ||||||||||||||||||
Kindred Hospital - Greensboro | Greensboro | NC | — | 1,010 | 7,586 | — | 1,010 | 7,586 | 8,596 | 7,722 | 874 | 1964 | 1994 | 20 years |
Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Count | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition1 | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on which Depreciation In income Statement is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNITED STATES PROPERTIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Housing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Atria Senior Living | 134 | $ | 243,330 | $ | 454,983 | $ | 3,891,742 | $ | 571,695 | $ | 479,650 | $ | 4,438,770 | $ | 4,918,420 | $ | 1,445,165 | $ | 3,473,255 | 1835 - 2013 | 2007 - 2021 | 19 - 52 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brookdale Senior Living | 128 | 48,040 | 190,736 | 2,018,166 | 135,697 | 190,786 | 2,153,813 | 2,344,599 | 886,010 | 1,458,589 | 1915 - 2012 | 2004 - 2020 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holiday Retirement | 91 | 284,894 | 186,176 | 1,869,082 | (734) | 186,528 | 1,867,996 | 2,054,524 | 193,361 | 1,861,163 | 1978 - 2009 | 2013 - 2021 | 13 - 54 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Senior Living | 80 | — | 198,915 | 2,113,355 | 209,680 | 210,789 | 2,311,161 | 2,521,950 | 1,002,870 | 1,519,080 | 1987 - 2009 | 2007 - 2012 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sinceri Senior Living | 36 | — | 59,551 | 597,082 | 28,117 | 58,139 | 626,611 | 684,750 | 222,131 | 462,619 | 1974 - 2005 | 2006 - 2015 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discovery Senior Living | 19 | — | 21,906 | 251,919 | 13,347 | 22,213 | 264,959 | 287,172 | 87,695 | 199,477 | 1984 - 2005 | 2006 - 2014 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Koelsch Senior Communities | 19 | 75,179 | 27,721 | 292,414 | 13,578 | 28,424 | 305,289 | 333,713 | 55,138 | 278,575 | 1972 - 2017 | 2011 - 2017 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Priority Life Care Properties | 19 | — | 13,296 | 147,310 | 14,854 | 13,594 | 161,866 | 175,460 | 57,014 | 118,446 | 1986 - 2008 | 2006 - 2019 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sodalis Senior Living | 18 | — | 21,451 | 208,224 | (7,052) | 21,613 | 201,010 | 222,623 | 76,312 | 146,311 | 1996 - 2007 | 2006 - 2015 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eclipse Senior Living | 14 | — | 15,697 | 205,506 | 10,649 | 15,940 | 215,912 | 231,852 | 82,504 | 149,348 | 1964 - 2000 | 2006 - 2014 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Matthews Senior Living | 14 | — | 11,470 | 25,011 | (15,253) | 8,906 | 12,322 | 21,228 | 9,516 | 11,712 | 1985 - 2007 | 2011 - 2011 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avamere Family of Companies | 13 | — | 24,248 | 151,017 | 10,151 | 24,494 | 160,922 | 185,416 | 48,942 | 136,474 | 1972 - 2012 | 2011 - 2015 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Azura Memory Care | 13 | — | 6,361 | 53,002 | 10,850 | 7,200 | 63,013 | 70,213 | 18,470 | 51,743 | 1990 - 2019 | 2011 - 2019 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Milestone Retirement Communities | 13 | — | 19,769 | 197,527 | 2,434 | 19,769 | 199,961 | 219,730 | 50,706 | 169,024 | 1965 - 2011 | 2011 - 2014 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hawthorn Senior Living | 10 | 58,406 | 35,668 | 220,099 | — | 35,668 | 220,099 | 255,767 | 2,601 | 253,166 | 1998 - 2008 | 2021 - 2021 | 27 - 50 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Meridian Senior Living | 10 | — | 17,977 | 77,599 | 1,416 | 17,977 | 79,015 | 96,992 | 25,575 | 71,417 | 1972 - 2012 | 2011 - 2015 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sonida Senior Living | 10 | — | 14,080 | 118,512 | 21,910 | 14,735 | 139,767 | 154,502 | 53,137 | 101,365 | 1977 - 1998 | 2005 - 2012 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Housing Operators | 77 | 85,131 | 115,316 | 1,038,608 | 41,486 | 114,078 | 1,081,332 | 1,195,410 | 293,406 | 902,004 | 1964 - 2010 | 2004 - 2021 | 8 - 39 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Housing CIP | 2 | — | 2,983 | 150 | — | 2,983 | 150 | 3,133 | — | 3,133 | CIP | CIP | CIP | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Housing | 720 | 794,980 | 1,438,304 | 13,476,325 | 1,062,825 | 1,473,486 | 14,503,968 | 15,977,454 | 4,610,553 | 11,366,901 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Office | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lillibridge | 207 | 38,872 | 153,578 | 2,047,079 | 438,907 | 152,144 | 2,487,420 | 2,639,564 | 914,439 | 1,725,125 | 1960 - 2016 | 2004 - 2021 | 4 - 39 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PMB RES | 38 | 235,418 | 73,863 | 972,701 | 103,220 | 75,134 | 1,074,650 | 1,149,784 | 316,853 | 832,931 | 1972 - 2019 | 2011 - 2019 | 19 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other MOBs | 65 | 1,089 | 113,350 | 847,812 | 45,326 | 110,122 | 896,366 | 1,006,488 | 261,021 | 745,467 | 1984 - 2014 | 2004 - 2018 | 25 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other MOBs CIP | 1 | — | — | — | — | — | — | — | — | — | CIP | CIP | CIP | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Medical Office | 311 | 275,379 | 340,791 | 3,867,592 | 587,453 | 337,400 | 4,458,436 | 4,795,836 | 1,492,313 | 3,303,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Life Science, Research & Innovation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wexford | 31 | 206,799 | 85,744 | 1,541,924 | 125,731 | 85,705 | 1,667,694 | 1,753,399 | 247,370 | 1,506,029 | 1923 - 2019 | 2016 - 2019 | 15 - 60 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Life Science | 2 | — | 1,194 | 76,515 | — | 1,194 | 76,515 | 77,709 | 4,655 | 73,054 | 2010 - 2016 | 2020 - 2020 | 35 - 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
University Hospitals Rehabilitation Hospital | Beachwood | OH | — | 1,800 | 16,444 | — | 1,800 | 16,444 | 18,244 | 2,706 | 15,538 | 2013 | 2013 | 35 years | ||||||||||||||||||
Kindred Hospital - Philadelphia | Philadelphia | PA | — | 135 | 5,223 | — | 135 | 5,223 | 5,358 | 3,660 | 1,698 | 1960 | 1995 | 35 years | ||||||||||||||||||
Kindred Hospital - Chattanooga | Chattanooga | TN | — | 756 | 4,415 | — | 756 | 4,415 | 5,171 | 4,232 | 939 | 1975 | 1993 | 22 years | ||||||||||||||||||
Ardent Harrington Cancer Center | Amarillo | TX | — | 974 | 975 | — | 974 | 975 | 1,949 | — | 1,949 | CIP | CIP | CIP | ||||||||||||||||||
Rehabilitation Hospital of Dallas | Dallas | TX | — | 2,318 | 38,702 | — | 2,318 | 38,702 | 41,020 | 4,822 | 36,198 | 2009 | 2015 | 35 years | ||||||||||||||||||
Baylor Institute for Rehabilition - Ft. Worth TX | Fort Worth | TX | — | 2,071 | 16,018 | — | 2,071 | 16,018 | 18,089 | 2,166 | 15,923 | 2008 | 2015 | 35 years | ||||||||||||||||||
Kindred Hospital - Tarrant County (Fort Worth Southwest) | Fort Worth | TX | — | 2,342 | 7,458 | — | 2,342 | 7,458 | 9,800 | 7,506 | 2,294 | 1987 | 1986 | 20 years | ||||||||||||||||||
Rehabilitation Hospital The Vintage | Houston | TX | — | 1,838 | 34,832 | — | 1,838 | 34,832 | 36,670 | 4,552 | 32,118 | 2012 | 2015 | 35 years | ||||||||||||||||||
Kindred Hospital (Houston Northwest) | Houston | TX | — | 1,699 | 6,788 | — | 1,699 | 6,788 | 8,487 | 5,929 | 2,558 | 1986 | 1985 | 40 years | ||||||||||||||||||
Kindred Hospital - Houston | Houston | TX | — | 33 | 7,062 | — | 33 | 7,062 | 7,095 | 6,697 | 398 | 1972 | 1994 | 20 years | ||||||||||||||||||
Kindred Hospital - Mansfield | Mansfield | TX | — | 267 | 2,462 | — | 267 | 2,462 | 2,729 | 2,071 | 658 | 1983 | 1990 | 40 years | ||||||||||||||||||
Select Rehabilitation - San Antonio TX | San Antonio | TX | — | 1,859 | 18,301 | — | 1,859 | 18,301 | 20,160 | 2,427 | 17,733 | 2010 | 2015 | 35 years | ||||||||||||||||||
Kindred Hospital - San Antonio | San Antonio | TX | — | 249 | 11,413 | — | 249 | 11,413 | 11,662 | 9,885 | 1,777 | 1981 | 1993 | 30 years | ||||||||||||||||||
TOTAL FOR IRFS AND LTACS | — | 48,035 | 405,487 | 689 | 47,035 | 407,176 | 454,211 | 231,105 | 223,106 | |||||||||||||||||||||||
SKILLED NURSING FACILITIES | ||||||||||||||||||||||||||||||||
Englewood Post Acute and Rehabilitation | Englewood | CO | — | 241 | 2,180 | 194 | 241 | 2,374 | 2,615 | 2,100 | 515 | 1960 | 1995 | 30 years | ||||||||||||||||||
Brookdale Lisle SNF | Lisle | IL | — | 730 | 9,270 | — | 730 | 9,270 | 10,000 | 3,108 | 6,892 | 1990 | 2009 | 35 years | ||||||||||||||||||
Lopatcong Center | Phillipsburg | NJ | — | 1,490 | 12,336 | — | 1,490 | 12,336 | 13,826 | 6,423 | 7,403 | 1982 | 2004 | 30 years | ||||||||||||||||||
Marietta Convalescent Center | Marietta | OH | — | 158 | 3,266 | 75 | 158 | 3,341 | 3,499 | 3,332 | 167 | 1972 | 1993 | 25 years | ||||||||||||||||||
The Belvedere | Chester | PA | — | 822 | 7,203 | — | 822 | 7,203 | 8,025 | 3,741 | 4,284 | 1899 | 2004 | 30 years | ||||||||||||||||||
Pennsburg Manor | Pennsburg | PA | — | 1,091 | 7,871 | — | 1,091 | 7,871 | 8,962 | 4,136 | 4,826 | 1982 | 2004 | 30 years | ||||||||||||||||||
Chapel Manor | Philadelphia | PA | — | 1,595 | 13,982 | 1,358 | 1,595 | 15,340 | 16,935 | 8,421 | 8,514 | 1948 | 2004 | 30 years | ||||||||||||||||||
Wayne Center | Strafford | PA | — | 662 | 6,872 | 850 | 662 | 7,722 | 8,384 | 4,395 | 3,989 | 1897 | 2004 | 30 years | ||||||||||||||||||
Everett Rehabilitation & Care | Everett | WA | — | 2,750 | 27,337 | — | 2,750 | 27,337 | 30,087 | 6,257 | 23,830 | 1995 | 2011 | 35 years | ||||||||||||||||||
Northwest Continuum Care Center | Longview | WA | — | 145 | 2,563 | 171 | 145 | 2,734 | 2,879 | 2,491 | 388 | 1955 | 1992 | 29 years | ||||||||||||||||||
Columbia Crest Care & Rehabilitation Center | Moses Lake | WA | — | 660 | 17,439 | — | 660 | 17,439 | 18,099 | 4,069 | 14,030 | 1972 | 2011 | 35 years | ||||||||||||||||||
Lake Ridge Solana Alzheimer's Care Center | Moses Lake | WA | — | 660 | 8,866 | — | 660 | 8,866 | 9,526 | 2,147 | 7,379 | 1988 | 2011 | 35 years | ||||||||||||||||||
Rainier Vista Care Center | Puyallup | WA | — | 520 | 4,780 | 305 | 520 | 5,085 | 5,605 | 3,534 | 2,071 | 1986 | 1991 | 40 years | ||||||||||||||||||
Logan Center | Logan | WV | — | 300 | 12,959 | — | 300 | 12,959 | 13,259 | 2,970 | 10,289 | 1987 | 2011 | 35 years | ||||||||||||||||||
Ravenswood Healthcare Center | Ravenswood | WV | — | 320 | 12,710 | — | 320 | 12,710 | 13,030 | 2,924 | 10,106 | 1987 | 2011 | 35 years | ||||||||||||||||||
Valley Center | South Charleston | WV | — | 750 | 24,115 | — | 750 | 24,115 | 24,865 | 5,599 | 19,266 | 1987 | 2011 | 35 years | ||||||||||||||||||
White Sulphur | White Sulphur Springs | WV | — | 250 | 13,055 | — | 250 | 13,055 | 13,305 | 3,021 | 10,284 | 1987 | 2011 | 35 years | ||||||||||||||||||
TOTAL FOR SKILLED NURSING FACILITIES | — | 13,144 | 186,804 | 2,953 | 13,144 | 189,757 | 202,901 | 68,668 | 134,233 | |||||||||||||||||||||||
Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Count | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition1 | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on which Depreciation In income Statement is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Life Science CIP | 8 | — | 25,910 | 37,762 | — | 25,910 | 37,762 | 63,672 | 2,591 | 61,081 | CIP | CIP | CIP | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Life Science, Research & Innovation | 41 | 206,799 | 112,848 | 1,656,201 | 125,731 | 112,809 | 1,781,971 | 1,894,780 | 254,616 | 1,640,164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IRFs & LTACs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kindred Healthcare | 30 | — | 35,185 | 238,600 | (1,000) | 34,185 | 238,600 | 272,785 | 209,361 | 63,424 | 1937 - 2013 | 1976 - 2020 | 20 - 40 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other IRFs & LTACs | 6 | — | 9,257 | 151,238 | 1,068 | 9,257 | 152,306 | 161,563 | 35,659 | 125,904 | 1989 - 2012 | 2011 - 2015 | 35 - 36 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total IRFs & LTACs | 36 | — | 44,442 | 389,838 | 68 | 43,442 | 390,906 | 434,348 | 245,020 | 189,328 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health Systems | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ardent Health Services | 10 | — | 98,428 | 1,126,010 | 78,104 | 97,416 | 1,205,126 | 1,302,542 | 216,935 | 1,085,607 | 1928 - 2020 | 2015 - 2020 | 20 - 47 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Skilled Nursing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Genesis Healthcare | 12 | — | 11,350 | 164,745 | (5,708) | 11,350 | 159,037 | 170,387 | 68,573 | 101,814 | 1897 - 1995 | 2004 - 2011 | 30 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Skilled Nursing | 4 | — | 1,636 | 18,793 | 1,405 | 1,816 | 20,018 | 21,834 | 12,970 | 8,864 | 1955 - 1990 | 1991 - 2009 | 29 - 40 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Skilled Nursing | 16 | — | 12,986 | 183,538 | (4,303) | 13,166 | 179,055 | 192,221 | 81,543 | 110,678 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CANADIAN PROPERTIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Housing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Le Groupe Maurice | 34 | 1,097,568 | 141,123 | 1,743,734 | 116,229 | 147,622 | 1,853,464 | 2,001,086 | 103,029 | 1,898,057 | 2000 - 2020 | 2019 - 2020 | 40 - 60 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Atria Senior Living | 29 | — | 75,553 | 845,363 | (15,001) | 71,248 | 834,667 | 905,915 | 225,639 | 680,276 | 1988 - 2008 | 2014 - 2014 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunrise Senior Living | 12 | — | 46,600 | 418,821 | (43,105) | 40,692 | 381,624 | 422,316 | 167,340 | 254,976 | 2000 - 2007 | 2007 - 2007 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hawthorn Senior Living | 6 | — | 25,172 | 146,694 | — | 25,172 | 146,694 | 171,866 | 842 | 171,024 | 2006 - 2012 | 2021 - 2021 | 35 - 35 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Senior Housing CIP | 2 | 56,338 | 20,085 | 114,855 | — | 20,085 | 114,855 | 134,940 | — | 134,940 | CIP | CIP | CIP | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Senior Housing | 83 | 1,153,906 | 308,533 | 3,269,467 | 58,123 | 304,819 | 3,331,304 | 3,636,123 | 496,850 | 3,139,273 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNITED KINGDOM PROPERTIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Housing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canford Healthcare Limited | 12 | — | 42,445 | 84,181 | (9,093) | 39,186 | 78,347 | 117,533 | 16,602 | 100,931 | 1980 - 2014 | 2015 - 2017 | 40 - 40 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
International Hospital | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spire Healthcare | 3 | — | 11,903 | 136,628 | (19,499) | 10,341 | 118,692 | 129,033 | 19,048 | 109,985 | 1980 - 2010 | 2014 - 2014 | 50 - 50 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL | 1,232 | $ | 2,431,064 | $ | 2,410,680 | $ | 24,189,780 | $ | 1,879,409 | $ | 2,432,065 | $ | 26,047,805 | $ | 28,479,870 | $ | 7,433,480 | $ | 121,046,390 |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
HEALTH SYSTEMS | ||||||||||||||||||||||||||||||||
Lovelace Medical Center Downtown | Albuquerque | NM | — | 9,840 | 156,535 | 7,258 | 9,928 | 163,705 | 173,633 | 18,548 | 155,085 | 1968 | 2015 | 33.5 years | ||||||||||||||||||
Lovelace Westside Hospital | Albuquerque | NM | — | 10,107 | 18,501 | (2,783 | ) | 10,107 | 15,718 | 25,825 | 4,149 | 21,676 | 1984 | 2015 | 20.5 years | |||||||||||||||||
Lovelace Women's Hospital | Albuquerque | NM | — | 7,236 | 183,866 | 11,101 | 7,236 | 194,967 | 202,203 | 14,903 | 187,300 | 1983 | 2015 | 47 years | ||||||||||||||||||
Roswell Regional Hospital | Roswell | NM | — | 2,560 | 41,164 | 2,134 | 2,560 | 43,298 | 45,858 | 3,498 | 42,360 | 2007 | 2015 | 47 years | ||||||||||||||||||
Hillcrest Hospital Claremore | Claremore | OK | — | 3,623 | 34,359 | (9,845 | ) | 3,623 | 24,514 | 28,137 | 2,483 | 25,654 | 1955 | 2015 | 40 years | |||||||||||||||||
Bailey Medical Center | Owasso | OK | — | 4,964 | 8,969 | (1,751 | ) | 4,964 | 7,218 | 12,182 | 1,142 | 11,040 | 2006 | 2015 | 32.5 years | |||||||||||||||||
Hillcrest Medical Center | Tulsa | OK | — | 28,319 | 215,199 | 12,505 | 28,319 | 227,704 | 256,023 | 24,316 | 231,707 | 1928 | 2015 | 34 years | ||||||||||||||||||
Hillcrest Hospital South | Tulsa | OK | — | 17,026 | 100,892 | 12,340 | 17,026 | 113,232 | 130,258 | 10,733 | 119,525 | 1999 | 2015 | 40 years | ||||||||||||||||||
SouthCreek Medical Plaza | Tulsa | OK | — | 2,943 | 17,860 | — | 2,943 | 17,860 | 20,803 | 201 | 20,602 | 2003 | 2018 | 35 years | ||||||||||||||||||
Baptist St. Anthony's Hospital | Amarillo | TX | — | 13,779 | 358,029 | 24,582 | 13,015 | 383,375 | 396,390 | 30,063 | 366,327 | 1967 | 2015 | 44.5 years | ||||||||||||||||||
Spire Hull and East Riding Hospital | Anlaby | UK | — | 3,194 | 81,613 | (15,337 | ) | 2,616 | 66,854 | 69,470 | 6,488 | 62,982 | 2010 | 2014 | 50 years | |||||||||||||||||
Spire Fylde Coast Hospital | Blackpool | UK | — | 2,446 | 28,896 | (5,667 | ) | 2,004 | 23,671 | 25,675 | 2,331 | 23,344 | 1980 | 2014 | 50 years | |||||||||||||||||
Spire Clare Park Hospital | Farnham | UK | — | 6,263 | 26,119 | (5,856 | ) | 5,130 | 21,396 | 26,526 | 2,190 | 24,336 | 2009 | 2014 | 50 years | |||||||||||||||||
TOTAL FOR HEALTH SYSTEMS | — | 112,300 | 1,272,002 | 28,681 | 109,471 | 1,303,512 | 1,412,983 | 121,045 | 1,291,938 | |||||||||||||||||||||||
BROOKDALE SENIORS HOUSING COMMUNITIES | ||||||||||||||||||||||||||||||||
Brookdale Chandler Ray Road | Chandler | AZ | — | 2,000 | 6,538 | 94 | 2,000 | 6,632 | 8,632 | 1,616 | 7,016 | 1998 | 2011 | 35 years | ||||||||||||||||||
Brookdale Springs Mesa | Mesa | AZ | — | 2,747 | 24,918 | 145 | 2,751 | 25,059 | 27,810 | 11,423 | 16,387 | 1986 | 2005 | 35 years | ||||||||||||||||||
Brookdale East Arbor | Mesa | AZ | — | 655 | 6,998 | 100 | 711 | 7,042 | 7,753 | 3,187 | 4,566 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Oro Valley | Oro Valley | AZ | — | 666 | 6,169 | — | 666 | 6,169 | 6,835 | 2,809 | 4,026 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Peoria | Peoria | AZ | — | 598 | 4,872 | — | 598 | 4,872 | 5,470 | 2,219 | 3,251 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Tempe | Tempe | AZ | — | 611 | 4,066 | — | 611 | 4,066 | 4,677 | 1,852 | 2,825 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale East Tucson | Tucson | AZ | — | 506 | 4,745 | — | 506 | 4,745 | 5,251 | 2,161 | 3,090 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Anaheim | Anaheim | CA | — | 2,464 | 7,908 | 95 | 2,464 | 8,003 | 10,467 | 3,363 | 7,104 | 1977 | 2005 | 35 years | ||||||||||||||||||
Brookdale Redwood City | Redwood City | CA | — | 7,669 | 66,691 | 72 | 7,719 | 66,713 | 74,432 | 30,775 | 43,657 | 1988 | 2005 | 35 years | ||||||||||||||||||
Brookdale San Jose | San Jose | CA | — | 6,240 | 66,329 | 13,043 | 6,250 | 79,362 | 85,612 | 31,763 | 53,849 | 1987 | 2005 | 35 years | ||||||||||||||||||
Brookdale San Marcos | San Marcos | CA | — | 4,288 | 36,204 | 199 | 4,314 | 36,377 | 40,691 | 16,786 | 23,905 | 1987 | 2005 | 35 years | ||||||||||||||||||
Brookdale Tracy | Tracy | CA | — | 1,110 | 13,296 | 521 | 1,110 | 13,817 | 14,927 | 5,344 | 9,583 | 1986 | 2005 | 35 years | ||||||||||||||||||
Brookdale Boulder Creek | Boulder | CO | — | 1,290 | 20,683 | 322 | 1,378 | 20,917 | 22,295 | 4,836 | 17,459 | 1985 | 2011 | 35 years | ||||||||||||||||||
Brookdale Vista Grande | Colorado Springs | CO | — | 715 | 9,279 | — | 715 | 9,279 | 9,994 | 4,226 | 5,768 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale El Camino | Pueblo | CO | — | 840 | 9,403 | — | 840 | 9,403 | 10,243 | 4,282 | 5,961 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale Farmington | Farmington | CT | — | 3,995 | 36,310 | 77 | 4,016 | 36,366 | 40,382 | 16,640 | 23,742 | 1984 | 2005 | 35 years | ||||||||||||||||||
Brookdale South Windsor | South Windsor | CT | — | 2,187 | 12,682 | 64 | 2,198 | 12,735 | 14,933 | 5,360 | 9,573 | 1999 | 2004 | 35 years | ||||||||||||||||||
Brookdale Chatfield | West Hartford | CT | — | 2,493 | 22,833 | 23,311 | 2,493 | 46,144 | 48,637 | 12,179 | 36,458 | 1989 | 2005 | 35 years | ||||||||||||||||||
Brookdale Bonita Springs | Bonita Springs | FL | — | 1,540 | 10,783 | 696 | 1,594 | 11,425 | 13,019 | 4,855 | 8,164 | 1989 | 2005 | 35 years | ||||||||||||||||||
Brookdale West Boynton Beach | Boynton Beach | FL | — | 2,317 | 16,218 | — | 2,317 | 16,218 | 18,535 | 7,151 | 11,384 | 1999 | 2005 | 35 years | ||||||||||||||||||
Brookdale Deer Creek AL/MC | Deerfield Beach | FL | — | 1,399 | 9,791 | 18 | 1,399 | 9,809 | 11,208 | 4,609 | 6,599 | 1999 | 2005 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
Brookdale Fort Myers The Colony | Fort Myers | FL | — | 1,510 | 7,862 | 16 | 1,510 | 7,878 | 9,388 | 1,816 | 7,572 | 1996 | 2011 | 35 years | ||||||||||||||||||
Brookdale Avondale | Jacksonville | FL | — | 860 | 16,745 | 140 | 860 | 16,885 | 17,745 | 3,750 | 13,995 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale Crown Point | Jacksonville | FL | — | 1,300 | 9,659 | 20 | 1,300 | 9,679 | 10,979 | 2,208 | 8,771 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale Jensen Beach | Jensen Beach | FL | — | 1,831 | 12,820 | 537 | 1,831 | 13,357 | 15,188 | 5,759 | 9,429 | 1999 | 2005 | 35 years | ||||||||||||||||||
Brookdale Ormond Beach West | Ormond Beach | FL | — | 1,660 | 9,738 | 27 | 1,660 | 9,765 | 11,425 | 2,241 | 9,184 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale Palm Coast | Palm Coast | FL | — | 470 | 9,187 | — | 470 | 9,187 | 9,657 | 2,130 | 7,527 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale Pensacola | Pensacola | FL | — | 633 | 6,087 | 11 | 633 | 6,098 | 6,731 | 2,772 | 3,959 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Rotonda | Rotonda West | FL | — | 1,740 | 4,331 | 88 | 1,740 | 4,419 | 6,159 | 1,187 | 4,972 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale Centre Pointe Boulevard | Tallahassee | FL | — | 667 | 6,168 | — | 667 | 6,168 | 6,835 | 2,809 | 4,026 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Tavares | Tavares | FL | — | 280 | 15,980 | — | 280 | 15,980 | 16,260 | 3,593 | 12,667 | 1997 | 2011 | 35 years | ||||||||||||||||||
Brookdale West Melbourne MC | West Melbourne | FL | — | 586 | 5,481 | — | 586 | 5,481 | 6,067 | 2,496 | 3,571 | 2000 | 2005 | 35 years | ||||||||||||||||||
Brookdale West Palm Beach | West Palm Beach | FL | — | 3,758 | 33,072 | 499 | 3,836 | 33,493 | 37,329 | 15,233 | 22,096 | 1990 | 2005 | 35 years | ||||||||||||||||||
Brookdale Winter Haven MC | Winter Haven | FL | — | 232 | 3,006 | — | 232 | 3,006 | 3,238 | 1,369 | 1,869 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale Winter Haven AL | Winter Haven | FL | — | 438 | 5,549 | — | 438 | 5,549 | 5,987 | 2,527 | 3,460 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale Twin Falls | Twin Falls | ID | — | 703 | 6,153 | 17 | 718 | 6,155 | 6,873 | 2,802 | 4,071 | 1997 | 2005 | 35 years | ||||||||||||||||||
Brookdale Lake Shore Drive | Chicago | IL | — | 11,057 | 107,517 | 4,487 | 11,057 | 112,004 | 123,061 | 50,664 | 72,397 | 1990 | 2005 | 35 years | ||||||||||||||||||
Brookdale Lake View | Chicago | IL | — | 3,072 | 26,668 | — | 3,072 | 26,668 | 29,740 | 12,310 | 17,430 | 1950 | 2005 | 35 years | ||||||||||||||||||
Brookdale Des Plaines | Des Plaines | IL | 32,000 | 6,871 | 60,165 | (41 | ) | 6,805 | 60,190 | 66,995 | 27,738 | 39,257 | 1993 | 2005 | 35 years | |||||||||||||||||
Brookdale Hoffman Estates | Hoffman Estates | IL | — | 3,886 | 44,130 | 608 | 3,901 | 44,723 | 48,624 | 19,606 | 29,018 | 1987 | 2005 | 35 years | ||||||||||||||||||
Brookdale Lisle IL/AL | Lisle | IL | 33,000 | 7,953 | 70,400 | — | 7,953 | 70,400 | 78,353 | 32,395 | 45,958 | 1990 | 2005 | 35 years | ||||||||||||||||||
Brookdale Northbrook | Northbrook | IL | — | 1,988 | 39,762 | 596 | 2,047 | 40,299 | 42,346 | 17,124 | 25,222 | 1999 | 2004 | 35 years | ||||||||||||||||||
Brookdale Hawthorn Lakes IL/AL | Vernon Hills | IL | — | 4,439 | 35,044 | 326 | 4,443 | 35,366 | 39,809 | 16,432 | 23,377 | 1987 | 2005 | 35 years | ||||||||||||||||||
Brookdale Hawthorn Lakes AL | Vernon Hills | IL | — | 1,147 | 10,041 | — | 1,147 | 10,041 | 11,188 | 4,628 | 6,560 | 1999 | 2005 | 35 years | ||||||||||||||||||
Brookdale Evansville | Evansville | IN | — | 357 | 3,765 | — | 357 | 3,765 | 4,122 | 1,714 | 2,408 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Castleton | Indianapolis | IN | — | 1,280 | 11,515 | — | 1,280 | 11,515 | 12,795 | 5,285 | 7,510 | 1986 | 2005 | 35 years | ||||||||||||||||||
Brookdale Marion AL (IN) | Marion | IN | — | 207 | 3,570 | — | 207 | 3,570 | 3,777 | 1,626 | 2,151 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Portage AL | Portage | IN | — | 128 | 3,649 | — | 128 | 3,649 | 3,777 | 1,662 | 2,115 | 1999 | 2005 | 35 years | ||||||||||||||||||
Brookdale Richmond | Richmond | IN | — | 495 | 4,124 | — | 495 | 4,124 | 4,619 | 1,878 | 2,741 | 1998 | 2005 | 35 years | ||||||||||||||||||
Brookdale Derby | Derby | KS | — | 440 | 4,422 | — | 440 | 4,422 | 4,862 | 1,040 | 3,822 | 1994 | 2011 | 35 years | ||||||||||||||||||
Brookdale Leawood State Line | Leawood | KS | — | 117 | 5,127 | 29 | 117 | 5,156 | 5,273 | 2,335 | 2,938 | 2000 | 2005 | 35 years | ||||||||||||||||||
Brookdale Salina Fairdale | Salina | KS | — | 300 | 5,657 | 4 | 300 | 5,661 | 5,961 | 1,329 | 4,632 | 1996 | 2011 | 35 years | ||||||||||||||||||
Brookdale Topeka | Topeka | KS | — | 370 | 6,825 | — | 370 | 6,825 | 7,195 | 3,108 | 4,087 | 2000 | 2005 | 35 years | ||||||||||||||||||
Brookdale Wellington | Wellington | KS | — | 310 | 2,434 | — | 310 | 2,434 | 2,744 | 614 | 2,130 | 1994 | 2011 | 35 years | ||||||||||||||||||
Brookdale Cushing Park | Framingham | MA | — | 5,819 | 33,361 | 2,679 | 5,829 | 36,030 | 41,859 | 14,668 | 27,191 | 1999 | 2004 | 35 years | ||||||||||||||||||
Brookdale Cape Cod | Hyannis | MA | — | 1,277 | 9,063 | 5 | 1,277 | 9,068 | 10,345 | 3,619 | 6,726 | 1999 | 2005 | 35 years | ||||||||||||||||||
Brookdale Quincy Bay | Quincy | MA | — | 6,101 | 57,862 | 1,952 | 6,101 | 59,814 | 65,915 | 26,348 | 39,567 | 1986 | 2005 | 35 years | ||||||||||||||||||
Brookdale Davison | Davison | MI | — | 160 | 3,189 | 2,543 | 160 | 5,732 | 5,892 | 1,870 | 4,022 | 1997 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Brookdale Delta MC | Delta Township | MI | — | 730 | 11,471 | — | 730 | 11,471 | 12,201 | 2,619 | 9,582 | 1998 | 2011 | 35 years | |||||||||
Brookdale Delta AL | Delta Township | MI | — | 820 | 3,313 | — | 820 | 3,313 | 4,133 | 1,057 | 3,076 | 1998 | 2011 | 35 years | |||||||||
Brookdale Farmington Hills North | Farmington Hills | MI | — | 580 | 10,497 | — | 580 | 10,497 | 11,077 | 2,675 | 8,402 | 1994 | 2011 | 35 years | |||||||||
Brookdale Farmington Hills North II | Farmington Hills | MI | — | 700 | 10,246 | — | 700 | 10,246 | 10,946 | 2,711 | 8,235 | 1994 | 2011 | 35 years | |||||||||
Brookdale Meridian AL | Haslett | MI | — | 1,340 | 6,134 | — | 1,340 | 6,134 | 7,474 | 1,531 | 5,943 | 1998 | 2011 | 35 years | |||||||||
Brookdale Grand Blanc MC | Holly | MI | — | 450 | 12,373 | — | 450 | 12,373 | 12,823 | 2,829 | 9,994 | 1998 | 2011 | 35 years | |||||||||
Brookdale Grand Blanc AL | Holly | MI | — | 620 | 14,627 | — | 620 | 14,627 | 15,247 | 3,366 | 11,881 | 1998 | 2011 | 35 years | |||||||||
Brookdale Northville | Northville | MI | — | 407 | 6,068 | — | 407 | 6,068 | 6,475 | 2,764 | 3,711 | 1996 | 2005 | 35 years | |||||||||
Brookdale Troy MC | Troy | MI | — | 630 | 17,178 | — | 630 | 17,178 | 17,808 | 3,896 | 13,912 | 1998 | 2011 | 35 years | |||||||||
Brookdale Troy AL | Troy | MI | — | 950 | 12,503 | 111 | 950 | 12,614 | 13,564 | 3,009 | 10,555 | 1998 | 2011 | 35 years | |||||||||
Brookdale Utica AL | Utica | MI | — | 1,142 | 11,808 | 57 | 1,142 | 11,865 | 13,007 | 5,378 | 7,629 | 1996 | 2005 | 35 years | |||||||||
Brookdale Utica MC | Utica | MI | — | 700 | 8,657 | — | 700 | 8,657 | 9,357 | 2,106 | 7,251 | 1995 | 2011 | 35 years | |||||||||
Brookdale Eden Prairie | Eden Prairie | MN | — | 301 | 6,228 | 3 | 301 | 6,231 | 6,532 | 2,836 | 3,696 | 1998 | 2005 | 35 years | |||||||||
Brookdale Faribault | Faribault | MN | — | 530 | 1,085 | — | 530 | 1,085 | 1,615 | 309 | 1,306 | 1997 | 2011 | 35 years | |||||||||
Brookdale Inver Grove Heights | Inver Grove Heights | MN | 530 | 253 | 2,655 | — | 253 | 2,655 | 2,908 | 1,209 | 1,699 | 1997 | 2005 | 35 years | |||||||||
Brookdale Mankato | Mankato | MN | — | 490 | 410 | — | 490 | 410 | 900 | 217 | 683 | 1996 | 2011 | 35 years | |||||||||
Brookdale Edina | Minneapolis | MN | 15,040 | 3,621 | 33,141 | 22,975 | 3,621 | 56,116 | 59,737 | 17,693 | 42,044 | 1998 | 2005 | 35 years | |||||||||
Brookdale North Oaks | North Oaks | MN | — | 1,057 | 8,296 | — | 1,057 | 8,296 | 9,353 | 3,778 | 5,575 | 1998 | 2005 | 35 years | |||||||||
Brookdale Plymouth | Plymouth | MN | — | 679 | 8,675 | — | 679 | 8,675 | 9,354 | 3,951 | 5,403 | 1998 | 2005 | 35 years | |||||||||
Brookdale Willmar | Wilmar | MN | — | 470 | 4,833 | — | 470 | 4,833 | 5,303 | 1,112 | 4,191 | 1997 | 2011 | 35 years | |||||||||
Brookdale Winona | Winona | MN | — | 800 | 1,390 | — | 800 | 1,390 | 2,190 | 645 | 1,545 | 1997 | 2011 | 35 years | |||||||||
Brookdale West County | Ballwin | MO | — | 3,100 | 35,074 | 115 | 3,104 | 35,185 | 38,289 | 5,019 | 33,270 | 2012 | 2014 | 35 years | |||||||||
Brookdale Evesham | Voorhees Township | NJ | — | 3,158 | 29,909 | 64 | 3,158 | 29,973 | 33,131 | 13,622 | 19,509 | 1987 | 2005 | 35 years | |||||||||
Brookdale Westampton | Westampton | NJ | — | 881 | 4,741 | — | 881 | 4,741 | 5,622 | 2,159 | 3,463 | 1997 | 2005 | 35 years | |||||||||
Brookdale Santa Fe | Santa Fe | NM | — | — | 28,178 | — | — | 28,178 | 28,178 | 12,605 | 15,573 | 1986 | 2005 | 35 years | |||||||||
Brookdale Kenmore | Buffalo | NY | — | 1,487 | 15,170 | — | 1,487 | 15,170 | 16,657 | 6,909 | 9,748 | 1995 | 2005 | 35 years | |||||||||
Brookdale Clinton IL | Clinton | NY | — | 947 | 7,528 | 96 | 961 | 7,610 | 8,571 | 3,428 | 5,143 | 1991 | 2005 | 35 years | |||||||||
Brookdale Manlius | Manlius | NY | — | 890 | 28,237 | (700 | ) | 190 | 28,237 | 28,427 | 6,350 | 22,077 | 1994 | 2011 | 35 years | ||||||||
Brookdale Pittsford | Pittsford | NY | — | 611 | 4,066 | 13 | 611 | 4,079 | 4,690 | 1,852 | 2,838 | 1997 | 2005 | 35 years | |||||||||
Brookdale East Niskayuna | Schenectady | NY | — | 1,021 | 8,333 | — | 1,021 | 8,333 | 9,354 | 3,795 | 5,559 | 1997 | 2005 | 35 years | |||||||||
Brookdale Niskayuna | Schenectady | NY | — | 1,884 | 16,103 | — | 1,884 | 16,103 | 17,987 | 7,334 | 10,653 | 1996 | 2005 | 35 years | |||||||||
Brookdale Summerfield | Syracuse | NY | — | 1,132 | 11,434 | — | 1,132 | 11,434 | 12,566 | 5,207 | 7,359 | 1991 | 2005 | 35 years | |||||||||
Brookdale Williamsville | Williamsville | NY | — | 839 | 3,841 | 60 | 839 | 3,901 | 4,740 | 1,749 | 2,991 | 1997 | 2005 | 35 years | |||||||||
Brookdale Cary | Cary | NC | — | 724 | 6,466 | — | 724 | 6,466 | 7,190 | 2,945 | 4,245 | 1997 | 2005 | 35 years | |||||||||
Brookdale Falling Creek | Hickory | NC | — | 330 | 10,981 | — | 330 | 10,981 | 11,311 | 2,507 | 8,804 | 1997 | 2011 | 35 years | |||||||||
Brookdale Winston-Salem | Winston-Salem | NC | — | 368 | 3,497 | — | 368 | 3,497 | 3,865 | 1,593 | 2,272 | 1997 | 2005 | 35 years | |||||||||
Brookdale Alliance | Alliance | OH | (530 | ) | 392 | 6,283 | 6 | 392 | 6,289 | 6,681 | 2,861 | 3,820 | 1998 | 2005 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Brookdale Austintown | Austintown | OH | — | 151 | 3,087 | — | 151 | 3,087 | 3,238 | 1,406 | 1,832 | 1999 | 2005 | 35 years | |||||||||
Brookdale Barberton | Barberton | OH | — | 440 | 10,884 | — | 440 | 10,884 | 11,324 | 2,486 | 8,838 | 1997 | 2011 | 35 years | |||||||||
Brookdale Beavercreek | Beavercreek | OH | — | 587 | 5,381 | — | 587 | 5,381 | 5,968 | 2,451 | 3,517 | 1998 | 2005 | 35 years | |||||||||
Brookdale Centennial Park | Clayton | OH | — | 630 | 6,477 | — | 630 | 6,477 | 7,107 | 1,542 | 5,565 | 1997 | 2011 | 35 years | |||||||||
Brookdale Westerville | Columbus | OH | — | 267 | 3,600 | — | 267 | 3,600 | 3,867 | 1,640 | 2,227 | 1999 | 2005 | 35 years | |||||||||
Brookdale Greenville AL/MC | Greenville | OH | — | 490 | 4,144 | — | 490 | 4,144 | 4,634 | 1,119 | 3,515 | 1997 | 2011 | 35 years | |||||||||
Brookdale Marion AL/MC (OH) | Marion | OH | — | 620 | 3,306 | — | 620 | 3,306 | 3,926 | 870 | 3,056 | 1998 | 2011 | 35 years | |||||||||
Brookdale Salem AL (OH) | Salem | OH | — | 634 | 4,659 | — | 634 | 4,659 | 5,293 | 2,122 | 3,171 | 1998 | 2005 | 35 years | |||||||||
Brookdale Springdale | Springdale | OH | — | 1,140 | 9,134 | — | 1,140 | 9,134 | 10,274 | 2,111 | 8,163 | 1997 | 2011 | 35 years | |||||||||
Brookdale Bartlesville South | Bartlesville | OK | — | 250 | 10,529 | — | 250 | 10,529 | 10,779 | 2,379 | 8,400 | 1997 | 2011 | 35 years | |||||||||
Brookdale Bethany | Bethany | OK | — | 390 | 1,499 | — | 390 | 1,499 | 1,889 | 421 | 1,468 | 1994 | 2011 | 35 years | |||||||||
Brookdale Broken Arrow | Broken Arrow | OK | — | 940 | 6,312 | 6,410 | 1,873 | 11,789 | 13,662 | 2,907 | 10,755 | 1996 | 2011 | 35 years | |||||||||
Brookdale Forest Grove | Forest Grove | OR | — | 2,320 | 9,633 | — | 2,320 | 9,633 | 11,953 | 2,410 | 9,543 | 1994 | 2011 | 35 years | |||||||||
Brookdale Mt. Hood | Gresham | OR | — | 2,410 | 9,093 | (2,180 | ) | 230 | 9,093 | 9,323 | 2,278 | 7,045 | 1988 | 2011 | 35 years | ||||||||
Brookdale McMinnville Town Center | McMinnville | OR | 767 | 1,230 | 7,561 | — | 1,230 | 7,561 | 8,791 | 2,086 | 6,705 | 1989 | 2011 | 35 years | |||||||||
Brookdale Denton North | Denton | TX | — | 1,750 | 6,712 | — | 1,750 | 6,712 | 8,462 | 1,569 | 6,893 | 1996 | 2011 | 35 years | |||||||||
Brookdale Ennis | Ennis | TX | — | 460 | 3,284 | — | 460 | 3,284 | 3,744 | 827 | 2,917 | 1996 | 2011 | 35 years | |||||||||
Brookdale Kerrville | Kerrville | TX | — | 460 | 8,548 | — | 460 | 8,548 | 9,008 | 1,955 | 7,053 | 1997 | 2011 | 35 years | |||||||||
Brookdale Medical Center Whitby | San Antonio | TX | — | 1,400 | 10,051 | — | 1,400 | 10,051 | 11,451 | 2,323 | 9,128 | 1997 | 2011 | 35 years | |||||||||
Brookdale Western Hills | Temple | TX | — | 330 | 5,081 | — | 330 | 5,081 | 5,411 | 1,228 | 4,183 | 1997 | 2011 | 35 years | |||||||||
Brookdale Salem AL (VA) | Salem | VA | — | 1,900 | 16,219 | — | 1,900 | 16,219 | 18,119 | 7,163 | 10,956 | 1998 | 2011 | 35 years | |||||||||
Brookdale Alderwood | Lynnwood | WA | — | 1,219 | 9,573 | 58 | 1,239 | 9,611 | 10,850 | 4,360 | 6,490 | 1999 | 2005 | 35 years | |||||||||
Brookdale Puyallup South | Puyallup | WA | — | 1,055 | 8,298 | — | 1,055 | 8,298 | 9,353 | 3,779 | 5,574 | 1998 | 2005 | 35 years | |||||||||
Brookdale Richland | Richland | WA | — | 960 | 23,270 | 8 | 960 | 23,278 | 24,238 | 5,440 | 18,798 | 1990 | 2011 | 35 years | |||||||||
Brookdale Park Place | Spokane | WA | — | 1,622 | 12,895 | — | 1,622 | 12,895 | 14,517 | 6,039 | 8,478 | 1915 | 2005 | 35 years | |||||||||
Brookdale Allenmore AL | Tacoma | WA | — | 620 | 16,186 | 362 | 620 | 16,548 | 17,168 | 3,677 | 13,491 | 1997 | 2011 | 35 years | |||||||||
Brookdale Allenmore - IL | Tacoma | WA | — | 1,710 | 3,326 | (918 | ) | 210 | 3,908 | 4,118 | 1,106 | 3,012 | 1988 | 2011 | 35 years | ||||||||
Brookdale Yakima | Yakima | WA | — | 860 | 15,276 | 7 | 860 | 15,283 | 16,143 | 3,572 | 12,571 | 1998 | 2011 | 35 years | |||||||||
Brookdale Kenosha | Kenosha | WI | — | 551 | 5,431 | 2,779 | 551 | 8,210 | 8,761 | 3,295 | 5,466 | 2000 | 2005 | 35 years | |||||||||
Brookdale LaCrosse MC | La Crosse | WI | — | 621 | 4,056 | 1,126 | 621 | 5,182 | 5,803 | 2,181 | 3,622 | 2004 | 2005 | 35 years | |||||||||
Brookdale LaCrosse AL | La Crosse | WI | — | 644 | 5,831 | 2,637 | 644 | 8,468 | 9,112 | 3,439 | 5,673 | 1998 | 2005 | 35 years | |||||||||
Brookdale Middleton Century Ave | Middleton | WI | — | 360 | 5,041 | — | 360 | 5,041 | 5,401 | 1,165 | 4,236 | 1997 | 2011 | 35 years | |||||||||
Brookdale Onalaska | Onalaska | WI | — | 250 | 4,949 | — | 250 | 4,949 | 5,199 | 1,137 | 4,062 | 1995 | 2011 | 35 years | |||||||||
Brookdale Sun Prairie | Sun Prairie | WI | — | 350 | 1,131 | — | 350 | 1,131 | 1,481 | 319 | 1,162 | 1994 | 2011 | 35 years | |||||||||
TOTAL FOR BROOKDALE SENIORS HOUSING COMMUNITIES | 80,807 | 185,427 | 1,768,730 | 86,389 | 182,453 | 1,858,093 | 2,040,546 | 706,549 | 1,333,997 | ||||||||||||||
SUNRISE SENIORS HOUSING COMMUNITIES | |||||||||||||||||||||||
Sunrise of Chandler | Chandler | AZ | — | 4,344 | 14,455 | 1,156 | 4,439 | 15,516 | 19,955 | 3,643 | 16,312 | 2007 | 2012 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Sunrise of Scottsdale | Scottsdale | AZ | — | 2,229 | 27,575 | 1,049 | 2,255 | 28,598 | 30,853 | 9,960 | 20,893 | 2007 | 2007 | 35 years | |||||||||
Sunrise at River Road | Tucson | AZ | — | 2,971 | 12,399 | 547 | 3,000 | 12,917 | 15,917 | 2,865 | 13,052 | 2008 | 2012 | 35 years | |||||||||
Sunrise of Lynn Valley | Vancouver | BC | — | 11,759 | 37,424 | (11,431 | ) | 8,743 | 29,009 | 37,752 | 10,275 | 27,477 | 2002 | 2007 | 35 years | ||||||||
Sunrise of Vancouver | Vancouver | BC | — | 6,649 | 31,937 | 1,272 | 6,661 | 33,197 | 39,858 | 11,658 | 28,200 | 2005 | 2007 | 35 years | |||||||||
Sunrise of Victoria | Victoria | BC | — | 8,332 | 29,970 | (8,154 | ) | 6,277 | 23,871 | 30,148 | 8,478 | 21,670 | 2001 | 2007 | 35 years | ||||||||
Sunrise at La Costa | Carlsbad | CA | — | 4,890 | 20,590 | 1,567 | 5,030 | 22,017 | 27,047 | 8,273 | 18,774 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Carmichael | Carmichael | CA | — | 1,269 | 14,598 | 726 | 1,291 | 15,302 | 16,593 | 3,456 | 13,137 | 2009 | 2012 | 35 years | |||||||||
Sunrise of Fair Oaks | Fair Oaks | CA | — | 1,456 | 23,679 | 2,641 | 2,515 | 25,261 | 27,776 | 8,981 | 18,795 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Mission Viejo | Mission Viejo | CA | — | 3,802 | 24,560 | 1,883 | 3,889 | 26,356 | 30,245 | 9,498 | 20,747 | 1998 | 2007 | 35 years | |||||||||
Sunrise at Canyon Crest | Riverside | CA | — | 5,486 | 19,658 | 2,165 | 5,745 | 21,564 | 27,309 | 7,885 | 19,424 | 2006 | 2007 | 35 years | |||||||||
Sunrise of Rocklin | Rocklin | CA | — | 1,378 | 23,565 | 1,279 | 1,472 | 24,750 | 26,222 | 8,765 | 17,457 | 2007 | 2007 | 35 years | |||||||||
Sunrise of San Mateo | San Mateo | CA | — | 2,682 | 35,335 | 1,979 | 2,742 | 37,254 | 39,996 | 12,954 | 27,042 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Sunnyvale | Sunnyvale | CA | — | 2,933 | 34,361 | 1,666 | 2,969 | 35,991 | 38,960 | 12,498 | 26,462 | 2000 | 2007 | 35 years | |||||||||
Sunrise at Sterling Canyon | Valencia | CA | — | 3,868 | 29,293 | 4,835 | 4,084 | 33,912 | 37,996 | 12,930 | 25,066 | 1998 | 2007 | 35 years | |||||||||
Sunrise of Westlake Village | Westlake Village | CA | — | 4,935 | 30,722 | 1,307 | 5,031 | 31,933 | 36,964 | 11,222 | 25,742 | 2004 | 2007 | 35 years | |||||||||
Sunrise at Yorba Linda | Yorba Linda | CA | — | 1,689 | 25,240 | 1,940 | 1,780 | 27,089 | 28,869 | 9,462 | 19,407 | 2002 | 2007 | 35 years | |||||||||
Sunrise at Cherry Creek | Denver | CO | — | 1,621 | 28,370 | 3,137 | 1,721 | 31,407 | 33,128 | 10,683 | 22,445 | 2000 | 2007 | 35 years | |||||||||
Sunrise at Pinehurst | Denver | CO | — | 1,417 | 30,885 | 2,190 | 1,653 | 32,839 | 34,492 | 12,156 | 22,336 | 1998 | 2007 | 35 years | |||||||||
Sunrise at Orchard | Littleton | CO | — | 1,813 | 22,183 | 2,601 | 1,853 | 24,744 | 26,597 | 8,715 | 17,882 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Westminster | Westminster | CO | — | 2,649 | 16,243 | 1,980 | 2,792 | 18,080 | 20,872 | 6,624 | 14,248 | 2000 | 2007 | 35 years | |||||||||
Sunrise of Stamford | Stamford | CT | — | 4,612 | 28,533 | 2,618 | 5,029 | 30,734 | 35,763 | 11,151 | 24,612 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Jacksonville | Jacksonville | FL | — | 2,390 | 17,671 | 789 | 2,420 | 18,430 | 20,850 | 4,112 | 16,738 | 2009 | 2012 | 35 years | |||||||||
Sunrise at Ivey Ridge | Alpharetta | GA | — | 1,507 | 18,516 | 1,520 | 1,517 | 20,026 | 21,543 | 7,221 | 14,322 | 1998 | 2007 | 35 years | |||||||||
Sunrise of Huntcliff Summit I | Atlanta | GA | — | 4,232 | 66,161 | 17,856 | 4,185 | 84,064 | 88,249 | 31,778 | 56,471 | 1987 | 2007 | 35 years | |||||||||
Sunrise at Huntcliff Summit II | Atlanta | GA | — | 2,154 | 17,137 | 2,984 | 2,160 | 20,115 | 22,275 | 7,286 | 14,989 | 1998 | 2007 | 35 years | |||||||||
Sunrise at East Cobb | Marietta | GA | — | 1,797 | 23,420 | 1,704 | 1,806 | 25,115 | 26,921 | 9,160 | 17,761 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Barrington | Barrington | IL | — | 859 | 15,085 | 858 | 892 | 15,910 | 16,802 | 3,614 | 13,188 | 2007 | 2012 | 35 years | |||||||||
Sunrise of Bloomingdale | Bloomingdale | IL | — | 1,287 | 38,625 | 2,157 | 1,382 | 40,687 | 42,069 | 14,235 | 27,834 | 2000 | 2007 | 35 years | |||||||||
Sunrise of Buffalo Grove | Buffalo Grove | IL | — | 2,154 | 28,021 | 1,719 | 2,339 | 29,555 | 31,894 | 10,500 | 21,394 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Lincoln Park | Chicago | IL | — | 3,485 | 26,687 | 2,285 | 3,504 | 28,953 | 32,457 | 9,727 | 22,730 | 2003 | 2007 | 35 years | |||||||||
Sunrise of Naperville | Naperville | IL | — | 1,946 | 28,538 | 2,794 | 2,624 | 30,654 | 33,278 | 11,370 | 21,908 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Palos Park | Palos Park | IL | — | 2,363 | 42,205 | 1,333 | 2,403 | 43,498 | 45,901 | 15,362 | 30,539 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Park Ridge | Park Ridge | IL | — | 5,533 | 39,557 | 3,078 | 5,689 | 42,479 | 48,168 | 15,092 | 33,076 | 1998 | 2007 | 35 years | |||||||||
Sunrise of Willowbrook | Willowbrook | IL | — | 1,454 | 60,738 | 2,640 | 2,080 | 62,752 | 64,832 | 20,463 | 44,369 | 2000 | 2007 | 35 years | |||||||||
Sunrise on Old Meridian | Carmel | IN | — | 8,550 | 31,746 | 1,132 | 8,558 | 32,870 | 41,428 | 7,346 | 34,082 | 2009 | 2012 | 35 years | |||||||||
Sunrise of Leawood | Leawood | KS | — | 651 | 16,401 | 1,107 | 878 | 17,281 | 18,159 | 3,735 | 14,424 | 2006 | 2012 | 35 years | |||||||||
Sunrise of Overland Park | Overland Park | KS | — | 650 | 11,015 | 740 | 743 | 11,662 | 12,405 | 2,782 | 9,623 | 2007 | 2012 | 35 years | |||||||||
Sunrise of Baton Rouge | Baton Rouge | LA | — | 1,212 | 23,547 | 1,828 | 1,382 | 25,205 | 26,587 | 8,928 | 17,659 | 2000 | 2007 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Sunrise of Arlington | Arlington | MA | — | 86 | 34,393 | 1,307 | 107 | 35,679 | 35,786 | 12,715 | 23,071 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Norwood | Norwood | MA | — | 2,230 | 30,968 | 2,385 | 2,306 | 33,277 | 35,583 | 11,737 | 23,846 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Columbia | Columbia | MD | — | 1,780 | 23,083 | 3,129 | 1,918 | 26,074 | 27,992 | 9,232 | 18,760 | 1996 | 2007 | 35 years | |||||||||
Sunrise of Rockville | Rockville | MD | — | 1,039 | 39,216 | 2,716 | 1,075 | 41,896 | 42,971 | 14,241 | 28,730 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Bloomfield | Bloomfield Hills | MI | — | 3,736 | 27,657 | 1,992 | 3,860 | 29,525 | 33,385 | 10,290 | 23,095 | 2006 | 2007 | 35 years | |||||||||
Sunrise of Cascade | Grand Rapids | MI | — | 1,273 | 21,782 | 672 | 1,370 | 22,357 | 23,727 | 4,954 | 18,773 | 2007 | 2012 | 35 years | |||||||||
Sunrise of Northville | Plymouth | MI | — | 1,445 | 26,090 | 1,632 | 1,525 | 27,642 | 29,167 | 9,752 | 19,415 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Rochester | Rochester | MI | — | 2,774 | 38,666 | 1,641 | 2,846 | 40,235 | 43,081 | 14,080 | 29,001 | 1998 | 2007 | 35 years | |||||||||
Sunrise of Troy | Troy | MI | — | 1,758 | 23,727 | 1,178 | 1,860 | 24,803 | 26,663 | 8,878 | 17,785 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Edina | Edina | MN | — | 3,181 | 24,224 | 2,922 | 3,274 | 27,053 | 30,327 | 9,900 | 20,427 | 1999 | 2007 | 35 years | |||||||||
Sunrise on Providence | Charlotte | NC | — | 1,976 | 19,472 | 2,618 | 1,988 | 22,078 | 24,066 | 7,918 | 16,148 | 1999 | 2007 | 35 years | |||||||||
Sunrise of East Brunswick | East Brunswick | NJ | — | 2,784 | 26,173 | 2,490 | 3,030 | 28,417 | 31,447 | 10,615 | 20,832 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Jackson | Jackson | NJ | — | 4,009 | 15,029 | 731 | 4,013 | 15,756 | 19,769 | 3,692 | 16,077 | 2008 | 2012 | 35 years | |||||||||
Sunrise of Morris Plains | Morris Plains | NJ | — | 1,492 | 32,052 | 2,210 | 1,569 | 34,185 | 35,754 | 12,121 | 23,633 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Old Tappan | Old Tappan | NJ | — | 2,985 | 36,795 | 2,358 | 3,177 | 38,961 | 42,138 | 13,786 | 28,352 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Wall | Wall Township | NJ | — | 1,053 | 19,101 | 2,115 | 1,088 | 21,181 | 22,269 | 7,389 | 14,880 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Wayne | Wayne | NJ | — | 1,288 | 24,990 | 2,710 | 1,304 | 27,684 | 28,988 | 9,817 | 19,171 | 1996 | 2007 | 35 years | |||||||||
Sunrise of Westfield | Westfield | NJ | — | 5,057 | 23,803 | 2,373 | 5,136 | 26,097 | 31,233 | 9,527 | 21,706 | 1996 | 2007 | 35 years | |||||||||
Sunrise of Woodcliff Lake | Woodcliff Lake | NJ | — | 3,493 | 30,801 | 1,869 | 3,606 | 32,557 | 36,163 | 11,770 | 24,393 | 2000 | 2007 | 35 years | |||||||||
Sunrise of North Lynbrook | Lynbrook | NY | — | 4,622 | 38,087 | 2,371 | 4,700 | 40,380 | 45,080 | 14,685 | 30,395 | 1999 | 2007 | 35 years | |||||||||
Sunrise at Fleetwood | Mount Vernon | NY | — | 4,381 | 28,434 | 2,576 | 4,646 | 30,745 | 35,391 | 11,281 | 24,110 | 1999 | 2007 | 35 years | |||||||||
Sunrise of New City | New City | NY | — | 1,906 | 27,323 | 2,057 | 1,979 | 29,307 | 31,286 | 10,436 | 20,850 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Smithtown | Smithtown | NY | — | 2,853 | 25,621 | 2,927 | 3,040 | 28,361 | 31,401 | 10,644 | 20,757 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Staten Island | Staten Island | NY | — | 7,237 | 23,910 | 859 | 7,290 | 24,716 | 32,006 | 11,366 | 20,640 | 2006 | 2007 | 35 years | |||||||||
Sunrise at North Hills | Raleigh | NC | — | 749 | 37,091 | 5,530 | 849 | 42,521 | 43,370 | 15,462 | 27,908 | 2000 | 2007 | 35 years | |||||||||
Sunrise at Parma | Cleveland | OH | — | 695 | 16,641 | 1,285 | 897 | 17,724 | 18,621 | 6,508 | 12,113 | 2000 | 2007 | 35 years | |||||||||
Sunrise of Cuyahoga Falls | Cuyahoga Falls | OH | — | 626 | 10,239 | 1,709 | 862 | 11,712 | 12,574 | 4,490 | 8,084 | 2000 | 2007 | 35 years | |||||||||
Sunrise of Aurora | Aurora | ON | — | 1,570 | 36,113 | (9,052 | ) | 1,195 | 27,436 | 28,631 | 9,606 | 19,025 | 2002 | 2007 | 35 years | ||||||||
Sunrise of Burlington | Burlington | ON | — | 1,173 | 24,448 | 1,237 | 1,363 | 25,495 | 26,858 | 9,096 | 17,762 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Unionville | Markham | ON | — | 2,322 | 41,140 | (9,989 | ) | 1,824 | 31,649 | 33,473 | 11,231 | 22,242 | 2000 | 2007 | 35 years | ||||||||
Sunrise of Mississauga | Mississauga | ON | — | 3,554 | 33,631 | (8,350 | ) | 2,779 | 26,056 | 28,835 | 9,400 | 19,435 | 2000 | 2007 | 35 years | ||||||||
Sunrise of Erin Mills | Mississauga | ON | — | 1,957 | 27,020 | (6,872 | ) | 1,469 | 20,636 | 22,105 | 7,387 | 14,718 | 2007 | 2007 | 35 years | ||||||||
Sunrise of Oakville | Oakville | ON | — | 2,753 | 37,489 | 1,643 | 2,917 | 38,968 | 41,885 | 13,660 | 28,225 | 2002 | 2007 | 35 years | |||||||||
Sunrise of Richmond Hill | Richmond Hill | ON | — | 2,155 | 41,254 | (10,132 | ) | 1,746 | 31,531 | 33,277 | 11,176 | 22,101 | 2002 | 2007 | 35 years | ||||||||
Sunrise of Thornhill | Vaughan | ON | — | 2,563 | 57,513 | (12,501 | ) | 1,403 | 46,172 | 47,575 | 15,052 | 32,523 | 2003 | 2007 | 35 years | ||||||||
Sunrise of Windsor | Windsor | ON | — | 1,813 | 20,882 | 1,780 | 1,987 | 22,488 | 24,475 | 7,897 | 16,578 | 2001 | 2007 | 35 years | |||||||||
Sunrise of Abington | Abington | PA | — | 1,838 | 53,660 | 6,012 | 2,053 | 59,457 | 61,510 | 20,610 | 40,900 | 1997 | 2007 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Sunrise of Blue Bell | Blue Bell | PA | — | 1,765 | 23,920 | 3,369 | 1,866 | 27,188 | 29,054 | 9,774 | 19,280 | 2006 | 2007 | 35 years | |||||||||
Sunrise of Exton | Exton | PA | — | 1,123 | 17,765 | 2,379 | 1,209 | 20,058 | 21,267 | 7,285 | 13,982 | 2000 | 2007 | 35 years | |||||||||
Sunrise of Haverford | Haverford | PA | — | 941 | 25,872 | 2,290 | 986 | 28,117 | 29,103 | 9,956 | 19,147 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Granite Run | Media | PA | — | 1,272 | 31,781 | 2,442 | 1,379 | 34,116 | 35,495 | 12,136 | 23,359 | 1997 | 2007 | 35 years | |||||||||
Sunrise of Lower Makefield | Morrisville | PA | — | 3,165 | 21,337 | 667 | 3,174 | 21,995 | 25,169 | 5,035 | 20,134 | 2008 | 2012 | 35 years | |||||||||
Sunrise of Westtown | West Chester | PA | — | 1,547 | 22,996 | 2,149 | 1,576 | 25,116 | 26,692 | 9,371 | 17,321 | 1999 | 2007 | 35 years | |||||||||
Sunrise of Hillcrest | Dallas | TX | — | 2,616 | 27,680 | 1,082 | 2,626 | 28,752 | 31,378 | 10,133 | 21,245 | 2006 | 2007 | 35 years | |||||||||
Sunrise of Fort Worth | Fort Worth | TX | — | 2,024 | 18,587 | 928 | 2,147 | 19,392 | 21,539 | 4,494 | 17,045 | 2007 | 2012 | 35 years | |||||||||
Sunrise of Frisco | Frisco | TX | — | 2,523 | 14,547 | 591 | 2,535 | 15,126 | 17,661 | 3,174 | 14,487 | 2009 | 2012 | 35 years | |||||||||
Sunrise of Cinco Ranch | Katy | TX | — | 2,512 | 21,600 | 1,262 | 2,580 | 22,794 | 25,374 | 5,154 | 20,220 | 2007 | 2012 | 35 years | |||||||||
Sunrise at Holladay | Holladay | UT | — | 2,542 | 44,771 | 1,104 | 2,581 | 45,836 | 48,417 | 10,058 | 38,359 | 2008 | 2012 | 35 years | |||||||||
Sunrise of Sandy | Sandy | UT | — | 2,576 | 22,987 | 414 | 2,638 | 23,339 | 25,977 | 8,369 | 17,608 | 2007 | 2007 | 35 years | |||||||||
Sunrise of Alexandria | Alexandria | VA | — | 88 | 14,811 | 2,461 | 240 | 17,120 | 17,360 | 6,726 | 10,634 | 1998 | 2007 | 35 years | |||||||||
Sunrise of Richmond | Richmond | VA | — | 1,120 | 17,446 | 1,339 | 1,198 | 18,707 | 19,905 | 7,068 | 12,837 | 1999 | 2007 | 35 years | |||||||||
Sunrise at Bon Air | Richmond | VA | — | 2,047 | 22,079 | 907 | 2,032 | 23,001 | 25,033 | 5,240 | 19,793 | 2008 | 2012 | 35 years | |||||||||
Sunrise of Springfield | Springfield | VA | — | 4,440 | 18,834 | 2,707 | 4,545 | 21,436 | 25,981 | 7,846 | 18,135 | 1997 | 2007 | 35 years | |||||||||
TOTAL FOR SUNRISE SENIORS HOUSING COMMUNITIES | — | 245,515 | 2,532,176 | 103,706 | 246,896 | 2,634,501 | 2,881,397 | 899,063 | 1,982,334 | ||||||||||||||
ATRIA SENIORS HOUSING COMMUNITIES | |||||||||||||||||||||||
Arbour Lake | Calgary | AB | — | 2,512 | 39,188 | (5,126 | ) | 2,151 | 34,423 | 36,574 | 5,389 | 31,185 | 2003 | 2014 | 35 years | ||||||||
Canyon Meadows | Calgary | AB | — | 1,617 | 30,803 | (3,776 | ) | 1,384 | 27,260 | 28,644 | 4,463 | 24,181 | 1995 | 2014 | 35 years | ||||||||
Churchill Manor | Edmonton | AB | — | 2,865 | 30,482 | (4,129 | ) | 2,442 | 26,776 | 29,218 | 4,397 | 24,821 | 1999 | 2014 | 35 years | ||||||||
The View at Lethbridge | Lethbridge | AB | — | 2,503 | 24,770 | (3,438 | ) | 2,146 | 21,689 | 23,835 | 3,834 | 20,001 | 2007 | 2014 | 35 years | ||||||||
Victoria Park | Red Deer | AB | — | 1,188 | 22,554 | (2,488 | ) | 1,015 | 20,239 | 21,254 | 3,620 | 17,634 | 1999 | 2014 | 35 years | ||||||||
Ironwood Estates | St. Albert | AB | — | 3,639 | 22,519 | (2,378 | ) | 3,137 | 20,643 | 23,780 | 3,578 | 20,202 | 1998 | 2014 | 35 years | ||||||||
Atria Regency | Mobile | AL | — | 950 | 11,897 | 1,559 | 981 | 13,425 | 14,406 | 4,248 | 10,158 | 1996 | 2011 | 35 years | |||||||||
Atria Chandler Villas | Chandler | AZ | — | 3,650 | 8,450 | 1,927 | 3,769 | 10,258 | 14,027 | 4,040 | 9,987 | 1988 | 2011 | 35 years | |||||||||
Atria Park of Sierra Pointe | Scottsdale | AZ | — | 10,930 | 65,372 | 5,899 | 10,994 | 71,207 | 82,201 | 10,884 | 71,317 | 2000 | 2014 | 35 years | |||||||||
Atria Campana del Rio | Tucson | AZ | — | 5,861 | 37,284 | 2,998 | 5,985 | 40,158 | 46,143 | 11,712 | 34,431 | 1964 | 2011 | 35 years | |||||||||
Atria Valley Manor | Tucson | AZ | — | 1,709 | 60 | 950 | 1,768 | 951 | 2,719 | 540 | 2,179 | 1963 | 2011 | 35 years | |||||||||
Atria Bell Court Gardens | Tucson | AZ | — | 3,010 | 30,969 | 2,308 | 3,060 | 33,227 | 36,287 | 8,837 | 27,450 | 1964 | 2011 | 35 years | |||||||||
Longlake Chateau | Nanaimo | BC | — | 1,874 | 22,910 | (2,646 | ) | 1,603 | 20,535 | 22,138 | 3,683 | 18,455 | 1990 | 2014 | 35 years | ||||||||
Prince George Chateau | Prince George | BC | — | 2,066 | 22,761 | (3,019 | ) | 1,765 | 20,043 | 21,808 | 3,542 | 18,266 | 2005 | 2014 | 35 years | ||||||||
The Victorian | Victoria | BC | — | 3,419 | 16,351 | (1,682 | ) | 2,936 | 15,152 | 18,088 | 2,811 | 15,277 | 1988 | 2014 | 35 years | ||||||||
The Victorian at McKenzie | Victoria | BC | — | 4,801 | 25,712 | (3,175 | ) | 4,100 | 23,238 | 27,338 | 3,969 | 23,369 | 2003 | 2014 | 35 years | ||||||||
Atria Burlingame | Burlingame | CA | — | 2,494 | 12,373 | 1,702 | 2,579 | 13,990 | 16,569 | 4,200 | 12,369 | 1977 | 2011 | 35 years | |||||||||
Atria Las Posas | Camarillo | CA | — | 4,500 | 28,436 | 1,273 | 4,518 | 29,691 | 34,209 | 7,857 | 26,352 | 1997 | 2011 | 35 years | |||||||||
Atria Carmichael Oaks | Carmichael | CA | 17,650 | 2,118 | 49,694 | 2,626 | 2,155 | 52,283 | 54,438 | 11,037 | 43,401 | 1992 | 2013 | 35 years | |||||||||
Atria El Camino Gardens | Carmichael | CA | — | 6,930 | 32,318 | 15,083 | 7,215 | 47,116 | 54,331 | 13,356 | 40,975 | 1984 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Atria Covina | Covina | CA | — | 170 | 4,131 | 787 | 262 | 4,826 | 5,088 | 1,735 | 3,353 | 1977 | 2011 | 35 years | |||||||||
Atria Daly City | Daly City | CA | — | 3,090 | 13,448 | 1,215 | 3,102 | 14,651 | 17,753 | 4,233 | 13,520 | 1975 | 2011 | 35 years | |||||||||
Atria Covell Gardens | Davis | CA | — | 2,163 | 39,657 | 11,761 | 2,388 | 51,193 | 53,581 | 15,601 | 37,980 | 1987 | 2011 | 35 years | |||||||||
Atria Encinitas | Encinitas | CA | — | 5,880 | 9,212 | 2,408 | 5,945 | 11,555 | 17,500 | 3,400 | 14,100 | 1984 | 2011 | 35 years | |||||||||
Atria North Escondido | Escondido | CA | — | 1,196 | 7,155 | 522 | 1,215 | 7,658 | 8,873 | 1,628 | 7,245 | 2002 | 2014 | 35 years | |||||||||
Atria Grass Valley | Grass Valley | CA | 10,986 | 1,965 | 28,414 | 1,073 | 2,020 | 29,432 | 31,452 | 6,359 | 25,093 | 2000 | 2013 | 35 years | |||||||||
Atria Golden Creek | Irvine | CA | — | 6,900 | 23,544 | 2,172 | 6,930 | 25,686 | 32,616 | 7,308 | 25,308 | 1985 | 2011 | 35 years | |||||||||
Atria Park of Lafayette | Lafayette | CA | 18,532 | 5,679 | 56,922 | 1,747 | 6,238 | 58,110 | 64,348 | 11,564 | 52,784 | 2007 | 2013 | 35 years | |||||||||
Atria Del Sol | Mission Viejo | CA | — | 3,500 | 12,458 | 8,633 | 3,781 | 20,810 | 24,591 | 7,116 | 17,475 | 1985 | 2011 | 35 years | |||||||||
Atria Newport Plaza | Newport Beach | CA | — | 4,534 | 32,912 | 307 | 4,545 | 33,208 | 37,753 | 1,122 | 36,631 | 1989 | 2017 | 35 years | |||||||||
Atria Tamalpais Creek | Novato | CA | — | 5,812 | 24,703 | 914 | 5,831 | 25,598 | 31,429 | 6,918 | 24,511 | 1978 | 2011 | 35 years | |||||||||
Atria Park of Pacific Palisades | Pacific Palisades | CA | — | 4,458 | 17,064 | 1,796 | 4,489 | 18,829 | 23,318 | 7,259 | 16,059 | 2001 | 2007 | 35 years | |||||||||
Atria Palm Desert | Palm Desert | CA | — | 2,887 | 9,843 | 1,348 | 3,127 | 10,951 | 14,078 | 5,269 | 8,809 | 1988 | 2011 | 35 years | |||||||||
Atria Hacienda | Palm Desert | CA | — | 6,680 | 85,900 | 3,433 | 6,876 | 89,137 | 96,013 | 22,407 | 73,606 | 1989 | 2011 | 35 years | |||||||||
Atria Paradise | Paradise | CA | — | 2,265 | 28,262 | (22,643 | ) | 1,995 | 5,889 | 7,884 | 6,203 | 1,681 | 1999 | 2013 | 35 years | ||||||||
Atria Del Rey | Rancho Cucamonga | CA | — | 3,290 | 17,427 | 5,749 | 3,477 | 22,989 | 26,466 | 8,341 | 18,125 | 1987 | 2011 | 35 years | |||||||||
Atria Rocklin | Rocklin | CA | 18,789 | 4,427 | 52,064 | 1,221 | 4,473 | 53,239 | 57,712 | 7,335 | 50,377 | 2001 | 2015 | 35 years | |||||||||
Atria La Jolla | San Diego | CA | — | 8,210 | 46,315 | (1,675 | ) | 8,212 | 44,638 | 52,850 | 1,519 | 51,331 | 1984 | 2017 | 35 years | ||||||||
Atria Penasquitos | San Diego | CA | — | 2,649 | 24,067 | 2,202 | 2,649 | 26,269 | 28,918 | 870 | 28,048 | 1991 | 2017 | 35 years | |||||||||
Atria Collwood | San Diego | CA | — | 290 | 10,650 | 1,259 | 347 | 11,852 | 12,199 | 3,693 | 8,506 | 1976 | 2011 | 35 years | |||||||||
Atria Rancho Park | San Dimas | CA | — | 4,066 | 14,306 | 1,870 | 4,625 | 15,617 | 20,242 | 5,226 | 15,016 | 1975 | 2011 | 35 years | |||||||||
Atria Willow Glen | San Jose | CA | — | 8,521 | 43,168 | 3,123 | 8,602 | 46,210 | 54,812 | 11,148 | 43,664 | 1976 | 2011 | 35 years | |||||||||
Atria San Juan | San Juan Capistrano | CA | — | 5,110 | 29,436 | 8,645 | 5,336 | 37,855 | 43,191 | 13,793 | 29,398 | 1985 | 2011 | 35 years | |||||||||
Atria Hillsdale | San Mateo | CA | — | 5,240 | 15,956 | 10,950 | 5,253 | 26,893 | 32,146 | 4,698 | 27,448 | 1986 | 2011 | 35 years | |||||||||
Atria Santa Clarita | Santa Clarita | CA | — | 3,880 | 38,366 | 1,221 | 3,890 | 39,577 | 43,467 | 5,560 | 37,907 | 2001 | 2015 | 35 years | |||||||||
Atria Sunnyvale | Sunnyvale | CA | — | 6,120 | 30,068 | 5,141 | 6,236 | 35,093 | 41,329 | 10,004 | 31,325 | 1977 | 2011 | 35 years | |||||||||
Atria Park of Tarzana | Tarzana | CA | — | 960 | 47,547 | 5,958 | 5,861 | 48,604 | 54,465 | 9,525 | 44,940 | 2008 | 2013 | 35 years | |||||||||
Atria Park of Vintage Hills | Temecula | CA | — | 4,674 | 44,341 | 2,402 | 4,879 | 46,538 | 51,417 | 10,145 | 41,272 | 2000 | 2013 | 35 years | |||||||||
Atria Park of Grand Oaks | Thousand Oaks | CA | — | 5,994 | 50,309 | 1,130 | 6,055 | 51,378 | 57,433 | 10,807 | 46,626 | 2002 | 2013 | 35 years | |||||||||
Atria Hillcrest | Thousand Oaks | CA | — | 6,020 | 25,635 | 10,256 | 6,624 | 35,287 | 41,911 | 13,087 | 28,824 | 1987 | 2011 | 35 years | |||||||||
Atria Walnut Creek | Walnut Creek | CA | — | 6,910 | 15,797 | 17,372 | 7,635 | 32,444 | 40,079 | 12,655 | 27,424 | 1978 | 2011 | 35 years | |||||||||
Atria Valley View | Walnut Creek | CA | — | 7,139 | 53,914 | 2,923 | 7,175 | 56,801 | 63,976 | 21,921 | 42,055 | 1977 | 2011 | 35 years | |||||||||
Atria Longmont | Longmont | CO | — | 2,807 | 24,877 | 1,300 | 2,852 | 26,132 | 28,984 | 6,052 | 22,932 | 2009 | 2012 | 35 years | |||||||||
Atria Darien | Darien | CT | — | 653 | 37,587 | 11,829 | 1,156 | 48,913 | 50,069 | 13,389 | 36,680 | 1997 | 2011 | 35 years | |||||||||
Atria Larson Place | Hamden | CT | — | 1,850 | 16,098 | 2,229 | 1,885 | 18,292 | 20,177 | 5,341 | 14,836 | 1999 | 2011 | 35 years | |||||||||
Atria Greenridge Place | Rocky Hill | CT | — | 2,170 | 32,553 | 2,500 | 2,392 | 34,831 | 37,223 | 8,970 | 28,253 | 1998 | 2011 | 35 years | |||||||||
Atria Stamford | Stamford | CT | — | 1,200 | 62,432 | 19,320 | 1,487 | 81,465 | 82,952 | 18,323 | 64,629 | 1975 | 2011 | 35 years | |||||||||
Atria Stratford | Stratford | CT | — | 3,210 | 27,865 | 2,043 | 3,210 | 29,908 | 33,118 | 8,338 | 24,780 | 1999 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Atria Crossroads Place | Waterford | CT | — | 2,401 | 36,495 | 7,855 | 2,577 | 44,174 | 46,751 | 13,040 | 33,711 | 2000 | 2011 | 35 years | |||||||||
Atria Hamilton Heights | West Hartford | CT | — | 3,120 | 14,674 | 3,691 | 3,163 | 18,322 | 21,485 | 6,337 | 15,148 | 1904 | 2011 | 35 years | |||||||||
Atria Windsor Woods | Hudson | FL | — | 1,610 | 32,432 | 3,107 | 1,687 | 35,462 | 37,149 | 9,895 | 27,254 | 1988 | 2011 | 35 years | |||||||||
Atria Park of Baypoint Village | Hudson | FL | — | 2,083 | 28,841 | 9,481 | 2,352 | 38,053 | 40,405 | 11,681 | 28,724 | 1986 | 2011 | 35 years | |||||||||
Atria Park of San Pablo | Jacksonville | FL | — | 1,620 | 14,920 | 1,185 | 1,660 | 16,065 | 17,725 | 4,339 | 13,386 | 1999 | 2011 | 35 years | |||||||||
Atria Park of St. Joseph's | Jupiter | FL | — | 5,520 | 30,720 | 1,814 | 5,561 | 32,493 | 38,054 | 6,977 | 31,077 | 2007 | 2013 | 35 years | |||||||||
Atria Lady Lake | Lady Lake | FL | — | 3,752 | 26,265 | 1,161 | 3,768 | 27,410 | 31,178 | 3,735 | 27,443 | 2010 | 2015 | 35 years | |||||||||
Atria Park of Lake Forest | Sanford | FL | — | 3,589 | 32,586 | 4,639 | 4,096 | 36,718 | 40,814 | 9,751 | 31,063 | 2002 | 2011 | 35 years | |||||||||
Atria Evergreen Woods | Spring Hill | FL | — | 2,370 | 28,371 | 4,879 | 2,554 | 33,066 | 35,620 | 10,181 | 25,439 | 1981 | 2011 | 35 years | |||||||||
Atria North Point | Alpharetta | GA | 39,416 | 4,830 | 78,318 | 2,684 | 4,868 | 80,964 | 85,832 | 14,069 | 71,763 | 2007 | 2014 | 35 years | |||||||||
Atria Buckhead | Atlanta | GA | — | 3,660 | 5,274 | 1,359 | 3,688 | 6,605 | 10,293 | 2,410 | 7,883 | 1996 | 2011 | 35 years | |||||||||
Atria Mableton | Austell | GA | — | 1,911 | 18,879 | 630 | 1,946 | 19,474 | 21,420 | 4,154 | 17,266 | 2000 | 2013 | 35 years | |||||||||
Atria Park of Tucker | Tucker | GA | — | 1,103 | 20,679 | 738 | 1,120 | 21,400 | 22,520 | 4,568 | 17,952 | 2000 | 2013 | 35 years | |||||||||
Atria Park of Glen Ellyn | Glen Ellyn | IL | — | 2,455 | 34,064 | 3,401 | 2,740 | 37,180 | 39,920 | 13,475 | 26,445 | 2000 | 2007 | 35 years | |||||||||
Atria Newburgh | Newburgh | IN | — | 1,150 | 22,880 | 1,393 | 1,150 | 24,273 | 25,423 | 6,101 | 19,322 | 1998 | 2011 | 35 years | |||||||||
Atria Hearthstone East | Topeka | KS | — | 1,150 | 20,544 | 1,473 | 1,241 | 21,926 | 23,167 | 6,064 | 17,103 | 1998 | 2011 | 35 years | |||||||||
Atria Hearthstone West | Topeka | KS | — | 1,230 | 28,379 | 2,337 | 1,267 | 30,679 | 31,946 | 8,957 | 22,989 | 1987 | 2011 | 35 years | |||||||||
Atria Highland Crossing | Covington | KY | — | 1,677 | 14,393 | 1,534 | 1,689 | 15,915 | 17,604 | 5,147 | 12,457 | 1988 | 2011 | 35 years | |||||||||
Atria Summit Hills | Crestview Hills | KY | — | 1,780 | 15,769 | 1,024 | 1,812 | 16,761 | 18,573 | 4,851 | 13,722 | 1998 | 2011 | 35 years | |||||||||
Atria Elizabethtown | Elizabethtown | KY | — | 850 | 12,510 | 777 | 869 | 13,268 | 14,137 | 3,645 | 10,492 | 1996 | 2011 | 35 years | |||||||||
Atria St. Matthews | Louisville | KY | — | 939 | 9,274 | 1,288 | 953 | 10,548 | 11,501 | 3,806 | 7,695 | 1998 | 2011 | 35 years | |||||||||
Atria Stony Brook | Louisville | KY | — | 1,860 | 17,561 | 1,242 | 1,953 | 18,710 | 20,663 | 5,281 | 15,382 | 1999 | 2011 | 35 years | |||||||||
Atria Springdale | Louisville | KY | — | 1,410 | 16,702 | 1,404 | 1,410 | 18,106 | 19,516 | 5,092 | 14,424 | 1999 | 2011 | 35 years | |||||||||
Atria Marland Place | Andover | MA | — | 1,831 | 34,592 | 19,500 | 1,996 | 53,927 | 55,923 | 18,372 | 37,551 | 1996 | 2011 | 35 years | |||||||||
Atria Longmeadow Place | Burlington | MA | — | 5,310 | 58,021 | 1,970 | 5,387 | 59,914 | 65,301 | 14,615 | 50,686 | 1998 | 2011 | 35 years | |||||||||
Atria Fairhaven | Fairhaven | MA | — | 1,100 | 16,093 | 1,006 | 1,157 | 17,042 | 18,199 | 4,436 | 13,763 | 1999 | 2011 | 35 years | |||||||||
Atria Woodbriar Place | Falmouth | MA | — | 4,630 | 27,314 | 5,676 | 6,433 | 31,187 | 37,620 | 7,666 | 29,954 | 2013 | 2013 | 35 years | |||||||||
Atria Woodbriar Park | Falmouth | MA | — | 1,970 | 43,693 | 21,453 | 2,699 | 64,417 | 67,116 | 16,113 | 51,003 | 1975 | 2011 | 35 years | |||||||||
Atria Draper Place | Hopedale | MA | — | 1,140 | 17,794 | 1,748 | 1,234 | 19,448 | 20,682 | 5,293 | 15,389 | 1998 | 2011 | 35 years | |||||||||
Atria Merrimack Place | Newburyport | MA | — | 2,774 | 40,645 | 6,429 | 4,319 | 45,529 | 49,848 | 10,342 | 39,506 | 2000 | 2011 | 35 years | |||||||||
Atria Marina Place | Quincy | MA | — | 2,590 | 33,899 | 1,973 | 2,755 | 35,707 | 38,462 | 9,315 | 29,147 | 1999 | 2011 | 35 years | |||||||||
Riverheights Terrace | Brandon | MB | — | 799 | 27,708 | (2,817 | ) | 682 | 25,008 | 25,690 | 4,181 | 21,509 | 2001 | 2014 | 35 years | ||||||||
Amber Meadow | Winnipeg | MB | — | 3,047 | 17,821 | (1,551 | ) | 2,598 | 16,719 | 19,317 | 3,321 | 15,996 | 2000 | 2014 | 35 years | ||||||||
The Westhaven | Winnipeg | MB | — | 871 | 23,162 | (2,582 | ) | 757 | 20,694 | 21,451 | 3,600 | 17,851 | 1988 | 2014 | 35 years | ||||||||
Atria Manresa | Annapolis | MD | — | 4,193 | 19,000 | 1,890 | 4,465 | 20,618 | 25,083 | 5,821 | 19,262 | 1920 | 2011 | 35 years | |||||||||
Atria Salisbury | Salisbury | MD | — | 1,940 | 24,500 | 973 | 1,959 | 25,454 | 27,413 | 6,369 | 21,044 | 1995 | 2011 | 35 years | |||||||||
Atria Kennebunk | Kennebunk | ME | — | 1,090 | 23,496 | 1,471 | 1,138 | 24,919 | 26,057 | 6,687 | 19,370 | 1998 | 2011 | 35 years | |||||||||
Atria Park of Ann Arbor | Ann Arbor | MI | — | 1,703 | 15,857 | 2,143 | 1,806 | 17,897 | 19,703 | 7,118 | 12,585 | 2001 | 2007 | 35 years | |||||||||
Atria Kinghaven | Riverview | MI | — | 1,440 | 26,260 | 2,386 | 1,598 | 28,488 | 30,086 | 8,017 | 22,069 | 1987 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Ste. Anne's Court | Fredericton | NB | — | 1,221 | 29,626 | (3,414 | ) | 1,046 | 26,387 | 27,433 | 4,401 | 23,032 | 2002 | 2014 | 35 years | ||||||||
Chateau de Champlain | St. John | NB | — | 796 | 24,577 | (2,240 | ) | 694 | 22,439 | 23,133 | 3,906 | 19,227 | 2002 | 2014 | 35 years | ||||||||
Atria Southpoint Walk | Durham | NC | 15,557 | 2,130 | 25,920 | 1,239 | 2,135 | 27,154 | 29,289 | 5,963 | 23,326 | 2009 | 2013 | 35 years | |||||||||
Atria Oakridge | Raleigh | NC | 14,430 | 1,482 | 28,838 | 1,467 | 1,519 | 30,268 | 31,787 | 6,633 | 25,154 | 2009 | 2013 | 35 years | |||||||||
Atria Cranford | Cranford | NJ | 280 | 8,260 | 61,411 | 5,385 | 8,406 | 66,650 | 75,056 | 17,995 | 57,061 | 1993 | 2011 | 35 years | |||||||||
Atria Tinton Falls | Tinton Falls | NJ | — | 6,580 | 13,258 | 1,741 | 6,762 | 14,817 | 21,579 | 4,927 | 16,652 | 1999 | 2011 | 35 years | |||||||||
Atria Seville | Las Vegas | NV | — | — | 796 | 1,598 | 11 | 2,383 | 2,394 | 1,663 | 731 | 1999 | 2011 | 35 years | |||||||||
Atria Summit Ridge | Reno | NV | — | 4 | 407 | 649 | 20 | 1,040 | 1,060 | 832 | 228 | 1997 | 2011 | 35 years | |||||||||
Atria Shaker | Albany | NY | — | 1,520 | 29,667 | 1,585 | 1,626 | 31,146 | 32,772 | 8,054 | 24,718 | 1997 | 2011 | 35 years | |||||||||
Atria Crossgate | Albany | NY | — | 1,080 | 20,599 | 1,217 | 1,100 | 21,796 | 22,896 | 5,999 | 16,897 | 1980 | 2011 | 35 years | |||||||||
Atria Woodlands | Ardsley | NY | 44,962 | 7,660 | 65,581 | 3,037 | 7,718 | 68,560 | 76,278 | 17,656 | 58,622 | 2005 | 2011 | 35 years | |||||||||
Atria Bay Shore | Bay Shore | NY | 15,275 | 4,440 | 31,983 | 2,586 | 4,453 | 34,556 | 39,009 | 9,152 | 29,857 | 1900 | 2011 | 35 years | |||||||||
Atria Briarcliff Manor | Briarcliff Manor | NY | — | 6,560 | 33,885 | 2,160 | 6,725 | 35,880 | 42,605 | 9,984 | 32,621 | 1997 | 2011 | 35 years | |||||||||
Atria Riverdale | Bronx | NY | — | 1,020 | 24,149 | 15,297 | 1,084 | 39,382 | 40,466 | 13,154 | 27,312 | 1999 | 2011 | 35 years | |||||||||
Atria Delmar Place | Delmar | NY | — | 1,201 | 24,850 | 956 | 1,223 | 25,784 | 27,007 | 4,690 | 22,317 | 2004 | 2013 | 35 years | |||||||||
Atria East Northport | East Northport | NY | — | 9,960 | 34,467 | 19,754 | 10,250 | 53,931 | 64,181 | 14,151 | 50,030 | 1996 | 2011 | 35 years | |||||||||
Atria Glen Cove | Glen Cove | NY | — | 2,035 | 25,190 | 1,295 | 2,063 | 26,457 | 28,520 | 13,083 | 15,437 | 1997 | 2011 | 35 years | |||||||||
Atria Great Neck | Great Neck | NY | — | 3,390 | 54,051 | 27,092 | 3,472 | 81,061 | 84,533 | 14,953 | 69,580 | 1998 | 2011 | 35 years | |||||||||
Atria Cutter Mill | Great Neck | NY | — | 2,750 | 47,919 | 3,286 | 2,761 | 51,194 | 53,955 | 12,669 | 41,286 | 1999 | 2011 | 35 years | |||||||||
Atria Huntington | Huntington Station | Bayside | — | 8,190 | 1,169 | 2,627 | 8,232 | 3,754 | 11,986 | 2,465 | 9,521 | 1987 | 2011 | 35 years | |||||||||
Atria Hertlin Place | Lake Ronkonkoma | NY | — | 7,886 | 16,391 | 2,222 | 7,886 | 18,613 | 26,499 | 4,534 | 21,965 | 2002 | 2012 | 35 years | |||||||||
Atria Lynbrook | Lynbrook | NY | — | 3,145 | 5,489 | 2,070 | 3,176 | 7,528 | 10,704 | 2,628 | 8,076 | 1996 | 2011 | 35 years | |||||||||
Atria Tanglewood | Lynbrook | NY | 23,590 | 4,120 | 37,348 | 1,207 | 4,145 | 38,530 | 42,675 | 9,627 | 33,048 | 2005 | 2011 | 35 years | |||||||||
Atria West 86 | New York | NY | — | 80 | 73,685 | 7,115 | 167 | 80,713 | 80,880 | 21,453 | 59,427 | 1998 | 2011 | 35 years | |||||||||
Atria on the Hudson | Ossining | NY | — | 8,123 | 63,089 | 4,698 | 8,212 | 67,698 | 75,910 | 18,710 | 57,200 | 1972 | 2011 | 35 years | |||||||||
Atria Penfield | Penfield | NY | — | 620 | 22,036 | 1,133 | 723 | 23,066 | 23,789 | 6,145 | 17,644 | 1972 | 2011 | 35 years | |||||||||
Atria Plainview | Plainview | NY | — | 2,480 | 16,060 | 1,913 | 2,630 | 17,823 | 20,453 | 5,124 | 15,329 | 2000 | 2011 | 35 years | |||||||||
Atria Rye Brook | Port Chester | NY | — | 9,660 | 74,936 | 2,416 | 9,744 | 77,268 | 87,012 | 19,326 | 67,686 | 2004 | 2011 | 35 years | |||||||||
Atria Kew Gardens | Queens | NY | — | 3,051 | 66,013 | 8,846 | 3,079 | 74,831 | 77,910 | 19,155 | 58,755 | 1999 | 2011 | 35 years | |||||||||
Atria Forest Hills | Queens | NY | — | 2,050 | 16,680 | 1,924 | 2,074 | 18,580 | 20,654 | 5,034 | 15,620 | 2001 | 2011 | 35 years | |||||||||
Atria Greece | Rochester | NY | — | 410 | 14,967 | 1,122 | 639 | 15,860 | 16,499 | 4,464 | 12,035 | 1970 | 2011 | 35 years | |||||||||
Atria on Roslyn Harbor | Roslyn | NY | 65,000 | 12,909 | 72,720 | 2,512 | 12,974 | 75,167 | 88,141 | 18,778 | 69,363 | 2006 | 2011 | 35 years | |||||||||
Atria Guilderland | Slingerlands | NY | — | 1,170 | 22,414 | 814 | 1,171 | 23,227 | 24,398 | 5,980 | 18,418 | 1950 | 2011 | 35 years | |||||||||
Atria South Setauket | South Setauket | NY | — | 8,450 | 14,534 | 1,781 | 8,835 | 15,930 | 24,765 | 6,113 | 18,652 | 1967 | 2011 | 35 years | |||||||||
The Court at Brooklin | Brooklin | ON | — | 2,515 | 35,602 | (3,914 | ) | 2,164 | 32,039 | 34,203 | 5,066 | 29,137 | 2004 | 2014 | 35 years | ||||||||
Burlington Gardens | Burlington | ON | — | 7,560 | 50,744 | (7,715 | ) | 6,464 | 44,125 | 50,589 | 6,808 | 43,781 | 2008 | 2014 | 35 years | ||||||||
The Court at Rushdale | Hamilton | ON | — | 1,799 | 34,633 | (4,015 | ) | 1,533 | 30,884 | 32,417 | 4,978 | 27,439 | 2004 | 2014 | 35 years | ||||||||
Kingsdale Chateau | Kingston | ON | — | 2,221 | 36,272 | (4,177 | ) | 1,910 | 32,406 | 34,316 | 5,212 | 29,104 | 2000 | 2014 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Crystal View Lodge | Nepean | ON | — | 1,587 | 37,243 | (4,033 | ) | 1,554 | 33,243 | 34,797 | 5,309 | 29,488 | 2000 | 2014 | 35 years | ||||||||
The Court at Barrhaven | Nepean | ON | — | 1,778 | 33,922 | (3,762 | ) | 1,554 | 30,384 | 31,938 | 5,043 | 26,895 | 2004 | 2014 | 35 years | ||||||||
Stamford Estates | Niagara Falls | ON | — | 1,414 | 29,439 | (3,924 | ) | 1,205 | 25,724 | 26,929 | 4,279 | 22,650 | 2005 | 2014 | 35 years | ||||||||
Sherbrooke Heights | Peterborough | ON | — | 2,485 | 33,747 | (3,793 | ) | 2,126 | 30,313 | 32,439 | 5,035 | 27,404 | 2001 | 2014 | 35 years | ||||||||
Anchor Pointe | St. Catharines | ON | — | 8,214 | 24,056 | (3,768 | ) | 7,003 | 21,499 | 28,502 | 3,984 | 24,518 | 2000 | 2014 | 35 years | ||||||||
The Court at Pringle Creek | Whitby | ON | — | 2,965 | 39,206 | (5,169 | ) | 2,586 | 34,416 | 37,002 | 5,567 | 31,435 | 2002 | 2014 | 35 years | ||||||||
Atria Bethlehem | Bethlehem | PA | — | 2,479 | 22,870 | 1,043 | 2,496 | 23,896 | 26,392 | 6,727 | 19,665 | 1998 | 2011 | 35 years | |||||||||
Atria Center City | Philadelphia | PA | — | 3,460 | 18,291 | 18,732 | 3,535 | 36,948 | 40,483 | 7,879 | 32,604 | 1964 | 2011 | 35 years | |||||||||
Atria South Hills | Pittsburgh | PA | — | 880 | 10,884 | 876 | 913 | 11,727 | 12,640 | 3,655 | 8,985 | 1998 | 2011 | 35 years | |||||||||
La Residence Steger | Saint-Laurent | QC | — | 1,995 | 10,926 | (116 | ) | 1,742 | 11,063 | 12,805 | 2,433 | 10,372 | 1999 | 2014 | 35 years | ||||||||
Atria Bay Spring Village | Barrington | RI | — | 2,000 | 33,400 | 2,796 | 2,080 | 36,116 | 38,196 | 10,455 | 27,741 | 2000 | 2011 | 35 years | |||||||||
Atria Harborhill | East Greenwich | RI | — | 2,089 | 21,702 | 1,744 | 2,183 | 23,352 | 25,535 | 6,436 | 19,099 | 1835 | 2011 | 35 years | |||||||||
Atria Lincoln Place | Lincoln | RI | — | 1,440 | 12,686 | 1,257 | 1,475 | 13,908 | 15,383 | 4,308 | 11,075 | 2000 | 2011 | 35 years | |||||||||
Atria Aquidneck Place | Portsmouth | RI | — | 2,810 | 31,623 | 1,111 | 2,814 | 32,730 | 35,544 | 8,067 | 27,477 | 1999 | 2011 | 35 years | |||||||||
Atria Forest Lake | Columbia | SC | — | 670 | 13,946 | 963 | 691 | 14,888 | 15,579 | 3,968 | 11,611 | 1999 | 2011 | 35 years | |||||||||
Primrose Chateau | Saskatoon | SK | — | 2,611 | 32,729 | (3,683 | ) | 2,290 | 29,367 | 31,657 | 4,761 | 26,896 | 1996 | 2014 | 35 years | ||||||||
Mulberry Estates | Moose Jaw | SK | — | 2,173 | 31,791 | (3,786 | ) | 1,943 | 28,235 | 30,178 | 4,681 | 25,497 | 2003 | 2014 | 35 years | ||||||||
Queen Victoria Estates | Regina | SK | — | 3,018 | 34,109 | (4,178 | ) | 2,572 | 30,377 | 32,949 | 4,920 | 28,029 | 2000 | 2014 | 35 years | ||||||||
Atria Weston Place | Knoxville | TN | — | 793 | 7,961 | 1,222 | 969 | 9,007 | 9,976 | 2,827 | 7,149 | 1993 | 2011 | 35 years | |||||||||
Atria at the Arboretum | Austin | TX | — | 8,280 | 61,764 | 3,010 | 8,377 | 64,677 | 73,054 | 13,609 | 59,445 | 2009 | 2012 | 35 years | |||||||||
Atria Carrollton | Carrollton | TX | 5,902 | 360 | 20,465 | 1,537 | 370 | 21,992 | 22,362 | 6,045 | 16,317 | 1998 | 2011 | 35 years | |||||||||
Atria Grapevine | Grapevine | TX | — | 2,070 | 23,104 | 1,129 | 2,092 | 24,211 | 26,303 | 6,334 | 19,969 | 1999 | 2011 | 35 years | |||||||||
Atria Westchase | Houston | TX | — | 2,318 | 22,278 | 1,235 | 2,347 | 23,484 | 25,831 | 6,424 | 19,407 | 1999 | 2011 | 35 years | |||||||||
Atria Cinco Ranch | Katy | TX | — | 3,171 | 73,287 | 1,454 | 3,201 | 74,711 | 77,912 | 9,548 | 68,364 | 2010 | 2015 | 35 years | |||||||||
Atria Kingwood | Kingwood | TX | — | 1,170 | 4,518 | 802 | 1,192 | 5,298 | 6,490 | 1,877 | 4,613 | 1998 | 2011 | 35 years | |||||||||
Atria at Hometown | North Richland Hills | TX | — | 1,932 | 30,382 | 2,028 | 1,963 | 32,379 | 34,342 | 7,214 | 27,128 | 2007 | 2013 | 35 years | |||||||||
Atria Canyon Creek | Plano | TX | — | 3,110 | 45,999 | 2,903 | 3,148 | 48,864 | 52,012 | 10,555 | 41,457 | 2009 | 2013 | 35 years | |||||||||
Atria Richardson | Richardson | TX | — | 1,590 | 23,662 | 1,315 | 1,600 | 24,967 | 26,567 | 6,451 | 20,116 | 1998 | 2011 | 35 years | |||||||||
Atria Cypresswood | Spring | TX | — | 880 | 9,192 | 283 | 897 | 9,458 | 10,355 | 2,651 | 7,704 | 1996 | 2011 | 35 years | |||||||||
Atria Sugar Land | Sugar Land | TX | — | 970 | 17,542 | 971 | 980 | 18,503 | 19,483 | 4,970 | 14,513 | 1999 | 2011 | 35 years | |||||||||
Atria Copeland | Tyler | TX | — | 1,879 | 17,901 | 2,041 | 1,888 | 19,933 | 21,821 | 5,286 | 16,535 | 1997 | 2011 | 35 years | |||||||||
Atria Willow Park | Tyler | TX | — | 920 | 31,271 | 1,412 | 982 | 32,621 | 33,603 | 8,915 | 24,688 | 1985 | 2011 | 35 years | |||||||||
Atria Virginia Beach | Virginia Beach | VA | — | 1,749 | 33,004 | 981 | 1,754 | 33,980 | 35,734 | 9,001 | 26,733 | 1998 | 2011 | 35 years | |||||||||
Amberwood | Port Richey | FL | — | 1,320 | — | — | 1,320 | — | 1,320 | — | 1,320 | N/A | 2011 | N/A | |||||||||
Atria Development & Construction Fees | — | — | 409 | — | — | 409 | 409 | — | 409 | CIP | CIP | CIP | |||||||||||
TOTAL FOR ATRIA SENIORS HOUSING COMMUNITIES | 290,369 | 534,811 | 4,846,956 | 381,575 | 546,533 | 5,216,809 | 5,763,342 | 1,270,360 | 4,492,982 |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
OTHER SENIORS HOUSING COMMUNITIES | |||||||||||||||||||||||
Elmcroft of Grayson Valley | Birmingham | AL | — | 1,040 | 19,145 | 754 | 1,046 | 19,893 | 20,939 | 4,823 | 16,116 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Byrd Springs | Hunstville | AL | — | 1,720 | 11,270 | 1,029 | 1,723 | 12,296 | 14,019 | 3,205 | 10,814 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Heritage Woods | Mobile | AL | — | 1,020 | 10,241 | 792 | 1,025 | 11,028 | 12,053 | 2,928 | 9,125 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Halcyon | Montgomery | AL | — | 220 | 5,476 | 333 | 259 | 5,770 | 6,029 | 1,954 | 4,075 | 1999 | 2006 | 35 years | |||||||||
Rosewood Manor | Scottsboro | AL | — | 680 | 4,038 | — | 680 | 4,038 | 4,718 | 966 | 3,752 | 1998 | 2011 | 35 years | |||||||||
West Shores | Hot Springs | AR | — | 1,326 | 10,904 | 1,825 | 1,326 | 12,729 | 14,055 | 4,351 | 9,704 | 1988 | 2005 | 35 years | |||||||||
Elmcroft of Maumelle | Maumelle | AR | — | 1,252 | 7,601 | 347 | 1,258 | 7,942 | 9,200 | 2,700 | 6,500 | 1997 | 2006 | 35 years | |||||||||
Elmcroft of Mountain Home | Mountain Home | AR | — | 204 | 8,971 | 372 | 204 | 9,343 | 9,547 | 3,183 | 6,364 | 1997 | 2006 | 35 years | |||||||||
Elmcroft of Sherwood | Sherwood | AR | — | 1,320 | 5,693 | 407 | 1,320 | 6,100 | 7,420 | 2,051 | 5,369 | 1997 | 2006 | 35 years | |||||||||
Chandler Memory Care Community | Chandler | AZ | — | 2,910 | 8,882 | 184 | 3,094 | 8,882 | 11,976 | 2,155 | 9,821 | 2012 | 2012 | 35 years | |||||||||
Silver Creek Inn Memory Care Community | Gilbert | AZ | — | 890 | 5,918 | — | 890 | 5,918 | 6,808 | 1,322 | 5,486 | 2012 | 2012 | 35 years | |||||||||
Prestige Assisted Living at Green Valley | Green Valley | AZ | — | 1,227 | 13,977 | — | 1,227 | 13,977 | 15,204 | 1,910 | 13,294 | 1998 | 2014 | 35 years | |||||||||
Prestige Assisted Living at Lake Havasu City | Lake Havasu | AZ | — | 594 | 14,792 | — | 594 | 14,792 | 15,386 | 2,009 | 13,377 | 1999 | 2014 | 35 years | |||||||||
Lakeview Terrace | Lake Havasu City | AZ | — | 706 | 7,810 | 109 | 706 | 7,919 | 8,625 | 1,143 | 7,482 | 2009 | 2015 | 35 years | |||||||||
Arbor Rose | Mesa | AZ | — | 1,100 | 11,880 | 2,434 | 1,100 | 14,314 | 15,414 | 4,832 | 10,582 | 1999 | 2011 | 35 years | |||||||||
The Stratford | Phoenix | AZ | — | 1,931 | 33,576 | 22 | 1,931 | 33,598 | 35,529 | 4,573 | 30,956 | 2001 | 2014 | 35 years | |||||||||
Amber Creek Inn Memory Care | Scottsdale | AZ | — | 2,310 | 6,322 | 677 | 2,185 | 7,124 | 9,309 | 766 | 8,543 | 1986 | 2011 | 35 years | |||||||||
Prestige Assisted Living at Sierra Vista | Sierra Vista | AZ | — | 295 | 13,224 | — | 295 | 13,224 | 13,519 | 1,792 | 11,727 | 1999 | 2014 | 35 years | |||||||||
The Woodmark at Sun City | Sun City | AZ | — | 964 | 35,093 | 706 | 1,071 | 35,692 | 36,763 | 4,584 | 32,179 | 2000 | 2015 | 35 years | |||||||||
Rock Creek Memory Care Community | Surprise | AZ | 10,057 | 826 | 16,353 | 3 | 826 | 16,356 | 17,182 | 585 | 16,597 | 2017 | 2017 | 35 years | |||||||||
Elmcroft of Tempe | Tempe | AZ | — | 1,090 | 12,942 | 1,290 | 1,098 | 14,224 | 15,322 | 3,690 | 11,632 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of River Centre | Tucson | AZ | — | 1,940 | 5,195 | 1,068 | 1,940 | 6,263 | 8,203 | 1,840 | 6,363 | 1999 | 2011 | 35 years | |||||||||
Sierra Ridge Memory Care | Auburn | CA | — | 681 | 6,071 | — | 681 | 6,071 | 6,752 | 841 | 5,911 | 2011 | 2014 | 35 years | |||||||||
Careage Banning | Banning | CA | — | 2,970 | 16,037 | — | 2,970 | 16,037 | 19,007 | 4,058 | 14,949 | 2004 | 2011 | 35 years | |||||||||
Las Villas Del Carlsbad | Carlsbad | CA | — | 1,760 | 30,469 | 961 | 1,760 | 31,430 | 33,190 | 10,765 | 22,425 | 1987 | 2006 | 35 years | |||||||||
Prestige Assisted Living at Chico | Chico | CA | — | 1,069 | 14,929 | — | 1,069 | 14,929 | 15,998 | 2,036 | 13,962 | 1998 | 2014 | 35 years | |||||||||
Villa Bonita | Chula Vista | CA | — | 1,610 | 9,169 | — | 1,610 | 9,169 | 10,779 | 2,416 | 8,363 | 1989 | 2011 | 35 years | |||||||||
The Meadows Senior Living | Elk Grove | CA | — | 1,308 | 19,667 | — | 1,308 | 19,667 | 20,975 | 2,676 | 18,299 | 2003 | 2014 | 35 years | |||||||||
Las Villas Del Norte | Escondido | CA | — | 2,791 | 32,632 | 1,113 | 2,809 | 33,727 | 36,536 | 11,524 | 25,012 | 1986 | 2006 | 35 years | |||||||||
Alder Bay Assisted Living | Eureka | CA | — | 1,170 | 5,228 | (70 | ) | 1,170 | 5,158 | 6,328 | 1,386 | 4,942 | 1997 | 2011 | 35 years | ||||||||
Cedarbrook | Fresno | CA | — | 1,652 | 12,613 | — | 1,652 | 12,613 | 14,265 | 777 | 13,488 | 2014 | 2017 | 35 years | |||||||||
Elmcroft of La Mesa | La Mesa | CA | — | 2,431 | 6,101 | 92 | 2,431 | 6,193 | 8,624 | 2,136 | 6,488 | 1997 | 2006 | 35 years | |||||||||
Grossmont Gardens | La Mesa | CA | — | 9,104 | 59,349 | 2,246 | 9,115 | 61,584 | 70,699 | 20,992 | 49,707 | 1964 | 2006 | 35 years | |||||||||
Palms, The | La Mirada | CA | — | 2,700 | 43,919 | — | 2,700 | 43,919 | 46,619 | 7,664 | 38,955 | 1990 | 2013 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Prestige Assisted Living at Lancaster | Lancaster | CA | — | 718 | 10,459 | — | 718 | 10,459 | 11,177 | 1,426 | 9,751 | 1999 | 2014 | 35 years | |||||||||
Prestige Assisted Living at Marysville | Marysville | CA | — | 741 | 7,467 | — | 741 | 7,467 | 8,208 | 1,023 | 7,185 | 1999 | 2014 | 35 years | |||||||||
Mountview Retirement Residence | Montrose | CA | — | 1,089 | 15,449 | 622 | 1,089 | 16,071 | 17,160 | 5,450 | 11,710 | 1974 | 2006 | 35 years | |||||||||
Redwood Retirement | Napa | CA | — | 2,798 | 12,639 | — | 2,798 | 12,639 | 15,437 | 2,252 | 13,185 | 1986 | 2013 | 35 years | |||||||||
Prestige Assisted Living at Oroville | Oroville | CA | — | 638 | 8,079 | — | 638 | 8,079 | 8,717 | 1,103 | 7,614 | 1999 | 2014 | 35 years | |||||||||
Valencia Commons | Rancho Cucamonga | CA | — | 1,439 | 36,363 | — | 1,439 | 36,363 | 37,802 | 6,327 | 31,475 | 2002 | 2013 | 35 years | |||||||||
Mission Hills | Rancho Mirage | CA | — | 6,800 | 3,637 | — | 6,800 | 3,637 | 10,437 | 1,443 | 8,994 | 1999 | 2011 | 35 years | |||||||||
Shasta Estates | Redding | CA | — | 1,180 | 23,463 | — | 1,180 | 23,463 | 24,643 | 4,088 | 20,555 | 2009 | 2013 | 35 years | |||||||||
The Vistas | Redding | CA | — | 1,290 | 22,033 | — | 1,290 | 22,033 | 23,323 | 5,224 | 18,099 | 2007 | 2011 | 35 years | |||||||||
Elmcroft of Point Loma | San Diego | CA | — | 2,117 | 6,865 | (1,928 | ) | 6 | 7,048 | 7,054 | 2,420 | 4,634 | 1999 | 2006 | 35 years | ||||||||
Regency of Evergreen Valley | San Jose | CA | — | 2,700 | 7,994 | — | 2,700 | 7,994 | 10,694 | 2,527 | 8,167 | 1998 | 2011 | 35 years | |||||||||
Villa del Obispo | San Juan Capistrano | CA | — | 2,660 | 9,560 | 156 | 2,660 | 9,716 | 12,376 | 2,447 | 9,929 | 1985 | 2011 | 35 years | |||||||||
Villa Santa Barbara | Santa Barbara | CA | — | 1,219 | 12,426 | 5,325 | 1,219 | 17,751 | 18,970 | 5,061 | 13,909 | 1977 | 2005 | 35 years | |||||||||
Skyline Place Senior Living | Sonora | CA | — | 1,815 | 28,472 | — | 1,815 | 28,472 | 30,287 | 3,893 | 26,394 | 1996 | 2014 | 35 years | |||||||||
Oak Terrace Memory Care | Soulsbyville | CA | — | 1,146 | 5,275 | — | 1,146 | 5,275 | 6,421 | 743 | 5,678 | 1999 | 2014 | 35 years | |||||||||
Eagle Lake Village | Susanville | CA | — | 1,165 | 6,719 | — | 1,165 | 6,719 | 7,884 | 1,392 | 6,492 | 2006 | 2012 | 35 years | |||||||||
Bonaventure, The | Ventura | CA | — | 5,294 | 32,747 | — | 5,294 | 32,747 | 38,041 | 5,790 | 32,251 | 2005 | 2013 | 35 years | |||||||||
Sterling Inn | Victorville | CA | 12,558 | 733 | 18,564 | 2,521 | 733 | 21,085 | 21,818 | 1,102 | 20,716 | 1992 | 2017 | 35 years | |||||||||
Sterling Commons | Victorville | CA | 5,850 | 768 | 13,124 | — | 768 | 13,124 | 13,892 | 781 | 13,111 | 1994 | 2017 | 35 years | |||||||||
Prestige Assisted Living at Visalia | Visalia | CA | — | 1,300 | 8,378 | — | 1,300 | 8,378 | 9,678 | 1,156 | 8,522 | 1998 | 2014 | 35 years | |||||||||
Westminster Terrace | Westminster | CA | — | 1,700 | 11,514 | 22 | 1,700 | 11,536 | 13,236 | 2,738 | 10,498 | 2001 | 2011 | 35 years | |||||||||
Highland Trail | Broomfield | CO | — | 2,511 | 26,431 | — | 2,511 | 26,431 | 28,942 | 4,632 | 24,310 | 2009 | 2013 | 35 years | |||||||||
Caley Ridge | Englewood | CO | — | 1,157 | 13,133 | — | 1,157 | 13,133 | 14,290 | 2,721 | 11,569 | 1999 | 2012 | 35 years | |||||||||
Garden Square at Westlake | Greeley | CO | — | 630 | 8,211 | — | 630 | 8,211 | 8,841 | 2,027 | 6,814 | 1998 | 2011 | 35 years | |||||||||
Garden Square of Greeley | Greeley | CO | — | 330 | 2,735 | — | 330 | 2,735 | 3,065 | 686 | 2,379 | 1995 | 2011 | 35 years | |||||||||
Lakewood Estates | Lakewood | CO | — | 1,306 | 21,137 | — | 1,306 | 21,137 | 22,443 | 3,689 | 18,754 | 1988 | 2013 | 35 years | |||||||||
Sugar Valley Estates | Loveland | CO | — | 1,255 | 21,837 | — | 1,255 | 21,837 | 23,092 | 3,808 | 19,284 | 2009 | 2013 | 35 years | |||||||||
Devonshire Acres | Sterling | CO | — | 950 | 13,569 | (2,922 | ) | 965 | 10,632 | 11,597 | 2,714 | 8,883 | 1979 | 2011 | 35 years | ||||||||
The Hearth at Gardenside | Branford | CT | — | 7,000 | 31,518 | — | 7,000 | 31,518 | 38,518 | 7,470 | 31,048 | 1999 | 2011 | 35 years | |||||||||
The Hearth at Tuxis Pond | Madison | CT | — | 1,610 | 44,322 | — | 1,610 | 44,322 | 45,932 | 10,077 | 35,855 | 2002 | 2011 | 35 years | |||||||||
White Oaks | Manchester | CT | — | 2,584 | 34,507 | — | 2,584 | 34,507 | 37,091 | 6,032 | 31,059 | 2007 | 2013 | 35 years | |||||||||
Willows Care Home | Romford | UK | — | 4,695 | 6,983 | (1,568 | ) | 4,065 | 6,045 | 10,110 | 837 | 9,273 | 1986 | 2015 | 40 years | ||||||||
Cedars Care Home | Southend-on-Sea | UK | — | 2,649 | 4,925 | (1,017 | ) | 2,293 | 4,264 | 6,557 | 608 | 5,949 | 2014 | 2015 | 40 years | ||||||||
Hampton Manor Belleview | Belleview | FL | — | 390 | 8,337 | 62 | 390 | 8,399 | 8,789 | 2,026 | 6,763 | 1988 | 2011 | 35 years | |||||||||
Sabal House | Cantonment | FL | — | 430 | 5,902 | — | 430 | 5,902 | 6,332 | 1,411 | 4,921 | 1999 | 2011 | 35 years | |||||||||
Bristol Park of Coral Springs | Coral Springs | FL | — | 3,280 | 11,877 | 2,223 | 3,280 | 14,100 | 17,380 | 3,030 | 14,350 | 1999 | 2011 | 35 years | |||||||||
Stanley House | Defuniak Springs | FL | — | 410 | 5,659 | — | 410 | 5,659 | 6,069 | 1,351 | 4,718 | 1999 | 2011 | 35 years | |||||||||
The Peninsula | Hollywood | FL | — | 3,660 | 9,122 | 1,416 | 3,660 | 10,538 | 14,198 | 2,679 | 11,519 | 1972 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Elmcroft of Timberlin Parc | Jacksonville | FL | — | 455 | 5,905 | 456 | 455 | 6,361 | 6,816 | 2,132 | 4,684 | 1998 | 2006 | 35 years | |||||||||
Forsyth House | Milton | FL | — | 610 | 6,503 | — | 610 | 6,503 | 7,113 | 1,539 | 5,574 | 1999 | 2011 | 35 years | |||||||||
Princeton Village of Largo | Largo | FL | — | 1,718 | 10,438 | 227 | 1,718 | 10,665 | 12,383 | 1,821 | 10,562 | 1992 | 2015 | 35 years | |||||||||
Barrington Terrace of Ft. Myers | Fort Myers | FL | — | 2,105 | 18,190 | 1,089 | 2,110 | 19,274 | 21,384 | 2,999 | 18,385 | 2001 | 2015 | 35 years | |||||||||
Barrington Terrace of Naples | Naples | FL | — | 2,596 | 18,716 | 1,101 | 2,610 | 19,803 | 22,413 | 2,898 | 19,515 | 2004 | 2015 | 35 years | |||||||||
The Carlisle Naples | Naples | FL | — | 8,406 | 78,091 | — | 8,406 | 78,091 | 86,497 | 17,966 | 68,531 | 1998 | 2011 | 35 years | |||||||||
Naples ALZ Development | Naples | FL | — | 2,983 | — | — | 2,983 | — | 2,983 | — | 2,983 | CIP | CIP | CIP | |||||||||
Hampton Manor at 24th Road | Ocala | FL | — | 690 | 8,767 | 77 | 690 | 8,844 | 9,534 | 2,071 | 7,463 | 1996 | 2011 | 35 years | |||||||||
Hampton Manor at Deerwood | Ocala | FL | — | 790 | 5,605 | 3,769 | 983 | 9,181 | 10,164 | 1,836 | 8,328 | 2005 | 2011 | 35 years | |||||||||
Las Palmas | Palm Coast | FL | — | 984 | 30,009 | — | 984 | 30,009 | 30,993 | 5,217 | 25,776 | 2009 | 2013 | 35 years | |||||||||
Princeton Village of Palm Coast | Palm Coast | FL | — | 1,958 | 24,525 | 180 | 1,958 | 24,705 | 26,663 | 3,476 | 23,187 | 2007 | 2015 | 35 years | |||||||||
Outlook Pointe at Pensacola | Pensacola | FL | — | 2,230 | 2,362 | 154 | 2,230 | 2,516 | 4,746 | 893 | 3,853 | 1999 | 2011 | 35 years | |||||||||
Magnolia House | Quincy | FL | — | 400 | 5,190 | — | 400 | 5,190 | 5,590 | 1,258 | 4,332 | 1999 | 2011 | 35 years | |||||||||
Outlook Pointe at Tallahassee | Tallahassee | FL | — | 2,430 | 17,745 | 523 | 2,430 | 18,268 | 20,698 | 4,469 | 16,229 | 1999 | 2011 | 35 years | |||||||||
Magnolia Place | Tallahassee | FL | — | 640 | 8,013 | 98 | 640 | 8,111 | 8,751 | 1,866 | 6,885 | 1999 | 2011 | 35 years | |||||||||
Bristol Park of Tamarac | Tamarac | FL | — | 3,920 | 14,130 | 1,969 | 3,920 | 16,099 | 20,019 | 3,498 | 16,521 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Carrolwood | Tampa | FL | — | 5,410 | 20,944 | 1,454 | 5,415 | 22,393 | 27,808 | 5,468 | 22,340 | 2001 | 2011 | 35 years | |||||||||
Arbor Terrace of Athens | Athens | GA | — | 1,767 | 16,442 | 569 | 1,777 | 17,001 | 18,778 | 2,417 | 16,361 | 1998 | 2015 | 35 years | |||||||||
Arbor Terrace at Cascade | Atlanta | GA | — | 3,052 | 9,040 | 878 | 3,057 | 9,913 | 12,970 | 2,007 | 10,963 | 1999 | 2015 | 35 years | |||||||||
Augusta Gardens | Augusta | GA | — | 530 | 10,262 | 308 | 543 | 10,557 | 11,100 | 2,588 | 8,512 | 1997 | 2011 | 35 years | |||||||||
Benton House of Covington | Covington | GA | 7,443 | 1,297 | 11,397 | 277 | 1,297 | 11,674 | 12,971 | 1,744 | 11,227 | 2009 | 2015 | 35 years | |||||||||
Arbor Terrace of Decatur | Decatur | GA | — | 3,102 | 19,599 | (814 | ) | 1,298 | 20,589 | 21,887 | 2,839 | 19,048 | 1990 | 2015 | 35 years | ||||||||
Benton House of Douglasville | Douglasville | GA | — | 1,697 | 15,542 | 112 | 1,697 | 15,654 | 17,351 | 2,260 | 15,091 | 2010 | 2015 | 35 years | |||||||||
Elmcroft of Martinez | Martinez | GA | — | 408 | 6,764 | 338 | 408 | 7,102 | 7,510 | 2,277 | 5,233 | 1997 | 2007 | 35 years | |||||||||
Benton House of Newnan | Newnan | GA | — | 1,474 | 17,487 | 238 | 1,474 | 17,725 | 19,199 | 2,495 | 16,704 | 2010 | 2015 | 35 years | |||||||||
Elmcroft of Roswell | Roswell | GA | — | 1,867 | 15,835 | 339 | 1,867 | 16,174 | 18,041 | 2,185 | 15,856 | 1997 | 2014 | 35 years | |||||||||
Benton Village of Stockbridge | Stockbridge | GA | — | 2,221 | 21,989 | 629 | 2,231 | 22,608 | 24,839 | 3,310 | 21,529 | 2008 | 2015 | 35 years | |||||||||
Benton House of Sugar Hill | Sugar Hill | GA | — | 2,173 | 14,937 | 144 | 2,174 | 15,080 | 17,254 | 2,296 | 14,958 | 2010 | 2015 | 35 years | |||||||||
Mayflower Care Home | Northfleet | UK | — | 4,330 | 7,519 | (1,590 | ) | 3,749 | 6,510 | 10,259 | 919 | 9,340 | 2012 | 2015 | 40 years | ||||||||
Villas of St. James - Breese, IL | Breese | IL | — | 671 | 6,849 | — | 671 | 6,849 | 7,520 | 1,144 | 6,376 | 2009 | 2015 | 35 years | |||||||||
Villas of Holly Brook - Chatham, IL | Chatham | IL | — | 1,185 | 8,910 | — | 1,185 | 8,910 | 10,095 | 1,531 | 8,564 | 2012 | 2015 | 35 years | |||||||||
Villas of Holly Brook - Effingham, IL | Effingham | IL | — | 508 | 6,624 | — | 508 | 6,624 | 7,132 | 1,075 | 6,057 | 2011 | 2015 | 35 years | |||||||||
Villas of Holly Brook - Herrin, IL | Herrin | IL | — | 2,175 | 9,605 | — | 2,175 | 9,605 | 11,780 | 1,901 | 9,879 | 2012 | 2015 | 35 years | |||||||||
Villas of Holly Brook - Marshall, IL | Marshall | IL | — | 1,461 | 4,881 | — | 1,461 | 4,881 | 6,342 | 1,124 | 5,218 | 2012 | 2015 | 35 years | |||||||||
Villas of Holly Brook - Newton, IL | Newton | IL | — | 458 | 4,590 | — | 458 | 4,590 | 5,048 | 827 | 4,221 | 2011 | 2015 | 35 years | |||||||||
Rochester Senior Living at Wyndcrest | Rochester | IL | — | 570 | 6,536 | 142 | 570 | 6,678 | 7,248 | 1,077 | 6,171 | 2005 | 2015 | 35 years | |||||||||
Villas of Holly Brook, Shelbyville, IL | Shelbyville | IL | — | 2,292 | 3,351 | — | 2,292 | 3,351 | 5,643 | 1,236 | 4,407 | 2011 | 2015 | 35 years | |||||||||
Elmcroft of Muncie | Muncie | IN | — | 244 | 11,218 | 538 | 277 | 11,723 | 12,000 | 3,773 | 8,227 | 1998 | 2007 | 35 years | |||||||||
Wood Ridge | South Bend | IN | — | 590 | 4,850 | (35 | ) | 590 | 4,815 | 5,405 | 1,195 | 4,210 | 1990 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Maples Care Home | Bexleyheath | UK | — | 5,042 | 7,525 | (1,688 | ) | 4,365 | 6,514 | 10,879 | 910 | 9,969 | 2007 | 2015 | 40 years | ||||||||
Barty House Nursing Home | Maidstone | UK | — | 3,769 | 3,089 | (920 | ) | 3,263 | 2,675 | 5,938 | 516 | 5,422 | 2013 | 2015 | 40 years | ||||||||
Tunbridge Wells Care Centre | Tunbridge Wells | UK | — | 4,323 | 5,869 | (1,368 | ) | 3,743 | 5,081 | 8,824 | 752 | 8,072 | 2010 | 2015 | 40 years | ||||||||
Elmcroft of Florence (KY) | Florence | KY | — | 1,535 | 21,826 | 512 | 1,535 | 22,338 | 23,873 | 2,998 | 20,875 | 2010 | 2014 | 35 years | |||||||||
Hartland Hills | Lexington | KY | — | 1,468 | 23,929 | — | 1,468 | 23,929 | 25,397 | 4,175 | 21,222 | 2001 | 2013 | 35 years | |||||||||
Elmcroft of Mount Washington | Mount Washington | KY | — | 758 | 12,048 | 463 | 758 | 12,511 | 13,269 | 1,683 | 11,586 | 2005 | 2014 | 35 years | |||||||||
Heathlands Care Home | Chingford | UK | — | 5,398 | 7,967 | (1,795 | ) | 4,673 | 6,897 | 11,570 | 983 | 10,587 | 1980 | 2015 | 40 years | ||||||||
Heritage Woods | Agawam | MA | — | 1,249 | 4,625 | — | 1,249 | 4,625 | 5,874 | 2,542 | 3,332 | 1997 | 2004 | 30 years | |||||||||
Devonshire Estates | Lenox | MA | — | 1,832 | 31,124 | — | 1,832 | 31,124 | 32,956 | 5,429 | 27,527 | 1998 | 2013 | 35 years | |||||||||
Outlook Pointe at Hagerstown | Hagerstown | MD | — | 2,010 | 1,293 | 296 | 2,010 | 1,589 | 3,599 | 629 | 2,970 | 1999 | 2011 | 35 years | |||||||||
Clover Healthcare | Auburn | ME | — | 1,400 | 26,895 | 876 | 1,400 | 27,771 | 29,171 | 6,919 | 22,252 | 1982 | 2011 | 35 years | |||||||||
Gorham House | Gorham | ME | — | 1,360 | 33,147 | 1,472 | 1,527 | 34,452 | 35,979 | 7,841 | 28,138 | 1990 | 2011 | 35 years | |||||||||
Kittery Estates | Kittery | ME | — | 1,531 | 30,811 | — | 1,531 | 30,811 | 32,342 | 5,368 | 26,974 | 2009 | 2013 | 35 years | |||||||||
Woods at Canco | Portland | ME | — | 1,441 | 45,578 | — | 1,441 | 45,578 | 47,019 | 7,922 | 39,097 | 2000 | 2013 | 35 years | |||||||||
Sentry Inn at York Harbor | York Harbor | ME | — | 3,490 | 19,869 | — | 3,490 | 19,869 | 23,359 | 4,643 | 18,716 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Downriver | Brownstown Charter Township | MI | — | 320 | 32,652 | 1,055 | 371 | 33,656 | 34,027 | 7,756 | 26,271 | 2000 | 2011 | 35 years | |||||||||
Independence Village of East Lansing | East Lansing | MI | — | 1,956 | 18,122 | 398 | 1,956 | 18,520 | 20,476 | 3,711 | 16,765 | 1989 | 2012 | 35 years | |||||||||
Primrose Austin | Austin | MN | — | 2,540 | 11,707 | 443 | 2,540 | 12,150 | 14,690 | 2,760 | 11,930 | 2002 | 2011 | 35 years | |||||||||
Primrose Duluth | Duluth | MN | — | 6,190 | 8,296 | 257 | 6,245 | 8,498 | 14,743 | 2,193 | 12,550 | 2003 | 2011 | 35 years | |||||||||
Primrose Mankato | Mankato | MN | — | 1,860 | 8,920 | 352 | 1,860 | 9,272 | 11,132 | 2,314 | 8,818 | 1999 | 2011 | 35 years | |||||||||
Lodge at White Bear | White Bear Lake | MN | — | 732 | 24,999 | — | 732 | 24,999 | 25,731 | 4,344 | 21,387 | 2002 | 2013 | 35 years | |||||||||
Assisted Living at the Meadowlands - O'Fallon, MO | O'Fallon | MO | — | 2,326 | 14,158 | — | 2,326 | 14,158 | 16,484 | 2,364 | 14,120 | 1999 | 2015 | 35 years | |||||||||
Canyon Creek Inn Memory Care | Billings | MT | — | 420 | 11,217 | 7 | 420 | 11,224 | 11,644 | 2,539 | 9,105 | 2011 | 2011 | 35 years | |||||||||
Spring Creek Inn Alzheimer's Community | Bozeman | MT | — | 1,345 | 16,877 | — | 1,345 | 16,877 | 18,222 | 1,034 | 17,188 | 2010 | 2017 | 35 years | |||||||||
The Springs at Missoula | Missoula | MT | 16,217 | 1,975 | 34,390 | 1,826 | 1,975 | 36,216 | 38,191 | 7,176 | 31,015 | 2004 | 2012 | 35 years | |||||||||
Carillon ALF of Asheboro | Asheboro | NC | — | 680 | 15,370 | — | 680 | 15,370 | 16,050 | 3,550 | 12,500 | 1998 | 2011 | 35 years | |||||||||
Arbor Terrace of Asheville | Asheville | NC | — | 1,365 | 15,679 | 773 | 1,365 | 16,452 | 17,817 | 2,427 | 15,390 | 1998 | 2015 | 35 years | |||||||||
Elmcroft of Little Avenue | Charlotte | NC | — | 250 | 5,077 | 339 | 250 | 5,416 | 5,666 | 1,823 | 3,843 | 1997 | 2006 | 35 years | |||||||||
Carillon ALF of Cramer Mountain | Cramerton | NC | — | 530 | 18,225 | — | 530 | 18,225 | 18,755 | 4,232 | 14,523 | 1999 | 2011 | 35 years | |||||||||
Carillon ALF of Harrisburg | Harrisburg | NC | — | 1,660 | 15,130 | — | 1,660 | 15,130 | 16,790 | 3,506 | 13,284 | 1997 | 2011 | 35 years | |||||||||
Carillon ALF of Hendersonville | Hendersonville | NC | — | 2,210 | 7,372 | — | 2,210 | 7,372 | 9,582 | 1,889 | 7,693 | 2005 | 2011 | 35 years | |||||||||
Carillon ALF of Hillsborough | Hillsborough | NC | — | 1,450 | 19,754 | — | 1,450 | 19,754 | 21,204 | 4,534 | 16,670 | 2005 | 2011 | 35 years | |||||||||
Willow Grove | Matthews | NC | — | 763 | 27,544 | — | 763 | 27,544 | 28,307 | 4,785 | 23,522 | 2009 | 2013 | 35 years | |||||||||
Carillon ALF of Newton | Newton | NC | — | 540 | 14,935 | — | 540 | 14,935 | 15,475 | 3,449 | 12,026 | 2000 | 2011 | 35 years | |||||||||
Independence Village of Olde Raleigh | Raleigh | NC | — | 1,989 | 18,648 | — | 1,989 | 18,648 | 20,637 | 3,749 | 16,888 | 1991 | 2012 | 35 years | |||||||||
Elmcroft of Northridge | Raleigh | NC | — | 184 | 3,592 | 1,231 | 207 | 4,800 | 5,007 | 1,357 | 3,650 | 1984 | 2006 | 35 years | |||||||||
Carillon ALF of Salisbury | Salisbury | NC | — | 1,580 | 25,026 | — | 1,580 | 25,026 | 26,606 | 5,689 | 20,917 | 1999 | 2011 | 35 years | |||||||||
Carillon ALF of Shelby | Shelby | NC | — | 660 | 15,471 | — | 660 | 15,471 | 16,131 | 3,586 | 12,545 | 2000 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Elmcroft of Southern Pines | Southern Pines | NC | — | 1,196 | 10,766 | 539 | 1,196 | 11,305 | 12,501 | 2,786 | 9,715 | 1998 | 2010 | 35 years | |||||||||
Carillon ALF of Southport | Southport | NC | — | 1,330 | 10,356 | — | 1,330 | 10,356 | 11,686 | 2,528 | 9,158 | 2005 | 2011 | 35 years | |||||||||
Primrose Bismarck | Bismarck | ND | — | 1,210 | 9,768 | 255 | 1,210 | 10,023 | 11,233 | 2,375 | 8,858 | 1994 | 2011 | 35 years | |||||||||
Wellington ALF - Minot ND | Minot | ND | — | 3,241 | 9,509 | — | 3,241 | 9,509 | 12,750 | 1,963 | 10,787 | 2005 | 2015 | 35 years | |||||||||
Crown Pointe | Omaha | NE | — | 1,316 | 11,950 | 2,418 | 1,316 | 14,368 | 15,684 | 4,758 | 10,926 | 1985 | 2005 | 35 years | |||||||||
Birch Heights | Derry | NH | — | 1,413 | 30,267 | — | 1,413 | 30,267 | 31,680 | 5,271 | 26,409 | 2009 | 2013 | 35 years | |||||||||
Bear Canyon Estates | Albuquerque | NM | — | 1,879 | 36,223 | — | 1,879 | 36,223 | 38,102 | 6,313 | 31,789 | 1997 | 2013 | 35 years | |||||||||
The Woodmark at Uptown | Albuquerque | NM | — | 2,439 | 33,276 | 720 | 2,471 | 33,964 | 36,435 | 4,780 | 31,655 | 2000 | 2015 | 35 years | |||||||||
Elmcroft of Quintessence | Albuquerque | NM | — | 1,150 | 26,527 | 959 | 1,165 | 27,471 | 28,636 | 6,387 | 22,249 | 1998 | 2011 | 35 years | |||||||||
Prestige Assisted Living at Mira Loma | Henderson | NV | — | 1,279 | 12,558 | — | 1,279 | 12,558 | 13,837 | 1,161 | 12,676 | 1998 | 2016 | 35 years | |||||||||
The Amberleigh | Buffalo | NY | — | 3,498 | 19,097 | 6,188 | 3,498 | 25,285 | 28,783 | 7,825 | 20,958 | 1988 | 2005 | 35 years | |||||||||
Brookdale Battery Park City | New York | NY | 116,100 | 2,903 | 186,978 | — | 2,903 | 186,978 | 189,881 | 987 | 188,894 | 2000 | 2018 | 35 years | |||||||||
The Hearth at Castle Gardens | Vestal | NY | — | 1,830 | 20,312 | 2,230 | 1,885 | 22,487 | 24,372 | 6,541 | 17,831 | 1994 | 2011 | 35 years | |||||||||
Elmcroft of Lima | Lima | OH | — | 490 | 3,368 | 366 | 490 | 3,734 | 4,224 | 1,237 | 2,987 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Ontario | Mansfield | OH | — | 523 | 7,968 | 372 | 523 | 8,340 | 8,863 | 2,835 | 6,028 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Medina | Medina | OH | — | 661 | 9,788 | 562 | 661 | 10,350 | 11,011 | 3,499 | 7,512 | 1999 | 2006 | 35 years | |||||||||
Elmcroft of Washington Township | Miamisburg | OH | — | 1,235 | 12,611 | 580 | 1,235 | 13,191 | 14,426 | 4,484 | 9,942 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Sagamore Hills | Sagamore Hills | OH | — | 980 | 12,604 | 730 | 980 | 13,334 | 14,314 | 4,509 | 9,805 | 2000 | 2006 | 35 years | |||||||||
Elmcroft of Lorain | Vermilion | OH | — | 500 | 15,461 | 1,058 | 557 | 16,462 | 17,019 | 4,166 | 12,853 | 2000 | 2011 | 35 years | |||||||||
Gardens at Westlake Senior Living | Westlake | OH | — | 2,401 | 20,640 | 328 | 2,403 | 20,966 | 23,369 | 3,186 | 20,183 | 1987 | 2015 | 35 years | |||||||||
Elmcroft of Xenia | Xenia | OH | — | 653 | 2,801 | 613 | 653 | 3,414 | 4,067 | 1,082 | 2,985 | 1999 | 2006 | 35 years | |||||||||
Arbor House of Mustang | Mustang | OK | — | 372 | 3,587 | — | 372 | 3,587 | 3,959 | 704 | 3,255 | 1999 | 2012 | 35 years | |||||||||
Arbor House of Norman | Norman | OK | — | 444 | 7,525 | — | 444 | 7,525 | 7,969 | 1,470 | 6,499 | 2000 | 2012 | 35 years | |||||||||
Arbor House Reminisce Center | Norman | OK | — | 438 | 3,028 | — | 438 | 3,028 | 3,466 | 597 | 2,869 | 2004 | 2012 | 35 years | |||||||||
Arbor House of Midwest City | Oklahoma City | OK | — | 544 | 9,133 | — | 544 | 9,133 | 9,677 | 1,784 | 7,893 | 2004 | 2012 | 35 years | |||||||||
Mansion at Waterford | Oklahoma City | OK | — | 2,077 | 14,184 | — | 2,077 | 14,184 | 16,261 | 2,939 | 13,322 | 1999 | 2012 | 35 years | |||||||||
Meadowbrook Place | Baker City | OR | — | 1,430 | 5,311 | — | 1,430 | 5,311 | 6,741 | 740 | 6,001 | 1965 | 2014 | 35 years | |||||||||
Edgewood Downs | Beaverton | OR | — | 2,356 | 15,476 | — | 2,356 | 15,476 | 17,832 | 2,733 | 15,099 | 1978 | 2013 | 35 years | |||||||||
Princeton Village Assisted Living | Clackamas | OR | 2,564 | 1,126 | 10,283 | 87 | 1,126 | 10,370 | 11,496 | 1,534 | 9,962 | 1999 | 2015 | 35 years | |||||||||
Bayside Terrace Assisted Living | Coos Bay | OR | — | 498 | 2,795 | 519 | 498 | 3,314 | 3,812 | 499 | 3,313 | 2006 | 2015 | 35 years | |||||||||
Ocean Ridge Assisted Living | Coos Bay | OR | — | 2,681 | 10,941 | 23 | 2,681 | 10,964 | 13,645 | 1,969 | 11,676 | 2006 | 2015 | 35 years | |||||||||
Avamere at Hillsboro | Hillsboro | OR | — | 4,400 | 8,353 | 1,413 | 4,400 | 9,766 | 14,166 | 2,581 | 11,585 | 2000 | 2011 | 35 years | |||||||||
The Springs at Tanasbourne | Hillsboro | OR | 32,534 | 4,689 | 55,035 | — | 4,689 | 55,035 | 59,724 | 11,924 | 47,800 | 2009 | 2013 | 35 years | |||||||||
The Arbor at Avamere Court | Keizer | OR | — | 922 | 6,460 | 110 | 1,135 | 6,357 | 7,492 | 1,073 | 6,419 | 2012 | 2014 | 35 years | |||||||||
Pelican Pointe | Klamath Falls | OR | 11,377 | 943 | 26,237 | 166 | 943 | 26,403 | 27,346 | 3,597 | 23,749 | 2011 | 2015 | 35 years | |||||||||
The Stafford | Lake Oswego | OR | — | 1,800 | 16,122 | 649 | 1,806 | 16,765 | 18,571 | 4,111 | 14,460 | 2008 | 2011 | 35 years | |||||||||
The Springs at Clackamas Woods | Milwaukie | OR | 14,502 | 1,264 | 22,429 | 3,001 | 1,338 | 25,356 | 26,694 | 4,598 | 22,096 | 1999 | 2012 | 35 years | |||||||||
Clackamas Woods Assisted Living | Milwaukie | OR | 7,809 | 681 | 12,077 | — | 681 | 12,077 | 12,758 | 2,476 | 10,282 | 1999 | 2012 | 35 years | |||||||||
Pheasant Pointe Assisted Living | Molalla | OR | — | 904 | 7,433 | 242 | 904 | 7,675 | 8,579 | 980 | 7,599 | 1998 | 2015 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Avamere at Newberg | Newberg | OR | — | 1,320 | 4,664 | 641 | 1,342 | 5,283 | 6,625 | 1,550 | 5,075 | 1999 | 2011 | 35 years | |||||||||
Avamere Living at Berry Park | Oregon City | OR | — | 1,910 | 4,249 | 2,316 | 1,910 | 6,565 | 8,475 | 1,941 | 6,534 | 1972 | 2011 | 35 years | |||||||||
McLoughlin Place Senior Living | Oregon City | OR | — | 2,418 | 26,819 | — | 2,418 | 26,819 | 29,237 | 3,690 | 25,547 | 1997 | 2014 | 35 years | |||||||||
Avamere at Bethany | Portland | OR | — | 3,150 | 16,740 | 257 | 3,150 | 16,997 | 20,147 | 4,146 | 16,001 | 2002 | 2011 | 35 years | |||||||||
Cedar Village Assisted Living | Salem | OR | — | 868 | 12,652 | 19 | 868 | 12,671 | 13,539 | 1,571 | 11,968 | 1999 | 2015 | 35 years | |||||||||
Redwood Heights Assisted Living | Salem | OR | — | 1,513 | 16,774 | (175 | ) | 1,513 | 16,599 | 18,112 | 2,085 | 16,027 | 1999 | 2015 | 35 years | ||||||||
Avamere at Sandy | Sandy | OR | — | 1,000 | 7,309 | 345 | 1,000 | 7,654 | 8,654 | 2,030 | 6,624 | 1999 | 2011 | 35 years | |||||||||
Suzanne Elise ALF | Seaside | OR | — | 1,940 | 4,027 | 393 | 1,945 | 4,415 | 6,360 | 1,318 | 5,042 | 1998 | 2011 | 35 years | |||||||||
Necanicum Village | Seaside | OR | — | 2,212 | 7,311 | 61 | 2,212 | 7,372 | 9,584 | 1,066 | 8,518 | 2001 | 2015 | 35 years | |||||||||
Avamere at Sherwood | Sherwood | OR | — | 1,010 | 7,051 | 340 | 1,010 | 7,391 | 8,401 | 1,965 | 6,436 | 2000 | 2011 | 35 years | |||||||||
Chateau Gardens | Springfield | OR | — | 1,550 | 4,197 | — | 1,550 | 4,197 | 5,747 | 999 | 4,748 | 1991 | 2011 | 35 years | |||||||||
Avamere at St Helens | St. Helens | OR | — | 1,410 | 10,496 | 502 | 1,410 | 10,998 | 12,408 | 2,811 | 9,597 | 2000 | 2011 | 35 years | |||||||||
Flagstone Senior Living | The Dalles | OR | — | 1,631 | 17,786 | — | 1,631 | 17,786 | 19,417 | 2,442 | 16,975 | 1991 | 2014 | 35 years | |||||||||
Elmcroft of Allison Park | Allison Park | PA | — | 1,171 | 5,686 | 284 | 1,171 | 5,970 | 7,141 | 2,026 | 5,115 | 1986 | 2006 | 35 years | |||||||||
Elmcroft of Chippewa | Beaver Falls | PA | — | 1,394 | 8,586 | 342 | 1,394 | 8,928 | 10,322 | 3,040 | 7,282 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Berwick | Berwick | PA | — | 111 | 6,741 | 256 | 111 | 6,997 | 7,108 | 2,389 | 4,719 | 1998 | 2006 | 35 years | |||||||||
Outlook Pointe at Lakemont | Bridgeville | PA | — | 1,660 | 12,624 | 205 | 1,660 | 12,829 | 14,489 | 3,190 | 11,299 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Dillsburg | Dillsburg | PA | — | 432 | 7,797 | 398 | 432 | 8,195 | 8,627 | 2,782 | 5,845 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Altoona | Duncansville | PA | — | 331 | 4,729 | 427 | 331 | 5,156 | 5,487 | 1,713 | 3,774 | 1997 | 2006 | 35 years | |||||||||
Elmcroft of Lebanon | Lebanon | PA | — | 240 | 7,336 | 424 | 249 | 7,751 | 8,000 | 2,623 | 5,377 | 1999 | 2006 | 35 years | |||||||||
Elmcroft of Lewisburg | Lewisburg | PA | — | 232 | 5,666 | 312 | 232 | 5,978 | 6,210 | 2,024 | 4,186 | 1999 | 2006 | 35 years | |||||||||
Lehigh Commons | Macungie | PA | — | 420 | 4,406 | 450 | 420 | 4,856 | 5,276 | 2,699 | 2,577 | 1997 | 2004 | 30 years | |||||||||
Elmcroft of Loyalsock | Montoursville | PA | — | 413 | 3,412 | 400 | 413 | 3,812 | 4,225 | 1,257 | 2,968 | 1999 | 2006 | 35 years | |||||||||
Highgate at Paoli Pointe | Paoli | PA | — | 1,151 | 9,079 | — | 1,151 | 9,079 | 10,230 | 4,639 | 5,591 | 1997 | 2004 | 30 years | |||||||||
Elmcroft of Mid Valley | Peckville | PA | — | 619 | 11,662 | 186 | 619 | 11,848 | 12,467 | 1,584 | 10,883 | 1998 | 2014 | 35 years | |||||||||
Sanatoga Court | Pottstown | PA | — | 360 | 3,233 | — | 360 | 3,233 | 3,593 | 1,705 | 1,888 | 1997 | 2004 | 30 years | |||||||||
Berkshire Commons | Reading | PA | — | 470 | 4,301 | — | 470 | 4,301 | 4,771 | 2,266 | 2,505 | 1997 | 2004 | 30 years | |||||||||
Mifflin Court | Reading | PA | — | 689 | 4,265 | 351 | 689 | 4,616 | 5,305 | 2,208 | 3,097 | 1997 | 2004 | 35 years | |||||||||
Elmcroft of Reading | Reading | PA | — | 638 | 4,942 | 284 | 638 | 5,226 | 5,864 | 1,770 | 4,094 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Reedsville | Reedsville | PA | — | 189 | 5,170 | 358 | 189 | 5,528 | 5,717 | 1,861 | 3,856 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Saxonburg | Saxonburg | PA | — | 770 | 5,949 | 365 | 832 | 6,252 | 7,084 | 2,122 | 4,962 | 1994 | 2006 | 35 years | |||||||||
Elmcroft of Shippensburg | Shippensburg | PA | — | 203 | 7,634 | 345 | 209 | 7,973 | 8,182 | 2,716 | 5,466 | 1999 | 2006 | 35 years | |||||||||
Elmcroft of State College | State College | PA | — | 320 | 7,407 | 301 | 320 | 7,708 | 8,028 | 2,628 | 5,400 | 1997 | 2006 | 35 years | |||||||||
Outlook Pointe at York | York | PA | — | 1,260 | 6,923 | 216 | 1,260 | 7,139 | 8,399 | 1,755 | 6,644 | 1999 | 2011 | 35 years | |||||||||
The Garden House | Anderson | SC | — | 969 | 15,613 | 156 | 969 | 15,769 | 16,738 | 2,313 | 14,425 | 2000 | 2015 | 35 years | |||||||||
Forest Pines | Columbia | SC | — | 1,058 | 27,471 | — | 1,058 | 27,471 | 28,529 | 4,779 | 23,750 | 1998 | 2013 | 35 years | |||||||||
Elmcroft of Florence SC | Florence | SC | — | 108 | 7,620 | 1,012 | 120 | 8,620 | 8,740 | 2,843 | 5,897 | 1998 | 2006 | 35 years | |||||||||
Primrose Aberdeen | Aberdeen | SD | — | 850 | 659 | 235 | 850 | 894 | 1,744 | 405 | 1,339 | 1991 | 2011 | 35 years | |||||||||
Primrose Place | Aberdeen | SD | — | 310 | 3,242 | 53 | 310 | 3,295 | 3,605 | 806 | 2,799 | 2000 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Primrose Rapid City | Rapid City | SD | — | 860 | 8,722 | 88 | 860 | 8,810 | 9,670 | 2,163 | 7,507 | 1997 | 2011 | 35 years | |||||||||
Primrose Sioux Falls | Sioux Falls | SD | — | 2,180 | 12,936 | 315 | 2,180 | 13,251 | 15,431 | 3,289 | 12,142 | 2002 | 2011 | 35 years | |||||||||
Ashridge Court | Bexhill-on-Sea | UK | — | 2,274 | 4,791 | (949 | ) | 1,969 | 4,147 | 6,116 | 641 | 5,475 | 2010 | 2015 | 40 years | ||||||||
Inglewood Nursing Home | Eastbourne | UK | — | 1,908 | 3,021 | (662 | ) | 1,652 | 2,615 | 4,267 | 466 | 3,801 | 2010 | 2015 | 40 years | ||||||||
Pentlow Nursing Home | Eastbourne | UK | — | 1,964 | 2,462 | (595 | ) | 1,700 | 2,131 | 3,831 | 403 | 3,428 | 2007 | 2015 | 40 years | ||||||||
Outlook Pointe of Bristol | Bristol | TN | — | 470 | 16,006 | 372 | 470 | 16,378 | 16,848 | 3,728 | 13,120 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Hamilton Place | Chattanooga | TN | — | 87 | 4,248 | 391 | 87 | 4,639 | 4,726 | 1,546 | 3,180 | 1998 | 2006 | 35 years | |||||||||
Elmcroft of Shallowford | Chattanooga | TN | — | 580 | 7,568 | 944 | 582 | 8,510 | 9,092 | 2,397 | 6,695 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Hendersonville | Hendersonville | TN | — | 600 | 5,304 | 412 | 600 | 5,716 | 6,316 | 783 | 5,533 | 1999 | 2014 | 35 years | |||||||||
Regency House | Hixson | TN | — | 140 | 6,611 | — | 140 | 6,611 | 6,751 | 1,571 | 5,180 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Jackson | Jackson | TN | — | 768 | 16,840 | 545 | 768 | 17,385 | 18,153 | 2,325 | 15,828 | 1998 | 2014 | 35 years | |||||||||
Outlook Pointe at Johnson City | Johnson City | TN | — | 590 | 10,043 | 465 | 590 | 10,508 | 11,098 | 2,405 | 8,693 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Kingsport | Kingsport | TN | — | 22 | 7,815 | 438 | 22 | 8,253 | 8,275 | 2,789 | 5,486 | 2000 | 2006 | 35 years | |||||||||
Arbor Terrace of Knoxville | Knoxville | TN | — | 590 | 15,862 | 778 | 590 | 16,640 | 17,230 | 2,461 | 14,769 | 1997 | 2015 | 35 years | |||||||||
Elmcroft of Halls | Knoxville | TN | — | 387 | 4,948 | 329 | 387 | 5,277 | 5,664 | 714 | 4,950 | 1998 | 2014 | 35 years | |||||||||
Elmcroft of West Knoxville | Knoxville | TN | — | 439 | 10,697 | 710 | 439 | 11,407 | 11,846 | 3,842 | 8,004 | 2000 | 2006 | 35 years | |||||||||
Elmcroft of Lebanon | Lebanon | TN | — | 180 | 7,086 | 983 | 196 | 8,053 | 8,249 | 2,656 | 5,593 | 2000 | 2006 | 35 years | |||||||||
Elmcroft of Bartlett | Memphis | TN | — | 570 | 25,552 | 882 | 570 | 26,434 | 27,004 | 6,166 | 20,838 | 1999 | 2011 | 35 years | |||||||||
Kennington Place | Memphis | TN | — | 1,820 | 4,748 | 815 | 1,820 | 5,563 | 7,383 | 2,185 | 5,198 | 1989 | 2011 | 35 years | |||||||||
The Glenmary | Memphis | TN | — | 510 | 5,860 | 2,646 | 510 | 8,506 | 9,016 | 1,889 | 7,127 | 1964 | 2011 | 35 years | |||||||||
Outlook Pointe at Murfreesboro | Murfreesboro | TN | — | 940 | 8,030 | 107 | 940 | 8,137 | 9,077 | 1,972 | 7,105 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Brentwood | Nashville | TN | — | 960 | 22,020 | 1,067 | 960 | 23,087 | 24,047 | 5,635 | 18,412 | 1998 | 2011 | 35 years | |||||||||
Elmcroft of Arlington | Arlington | TX | — | 2,650 | 14,060 | 925 | 2,654 | 14,981 | 17,635 | 3,843 | 13,792 | 1998 | 2011 | 35 years | |||||||||
Meadowbrook ALZ | Arlington | TX | — | 755 | 4,677 | 940 | 755 | 5,617 | 6,372 | 1,086 | 5,286 | 2012 | 2012 | 35 years | |||||||||
Elmcroft of Austin | Austin | TX | — | 2,770 | 25,820 | 1,212 | 2,770 | 27,032 | 29,802 | 6,432 | 23,370 | 2000 | 2011 | 35 years | |||||||||
Elmcroft of Bedford | Bedford | TX | — | 770 | 19,691 | 1,223 | 770 | 20,914 | 21,684 | 5,102 | 16,582 | 1999 | 2011 | 35 years | |||||||||
Highland Estates | Cedar Park | TX | — | 1,679 | 28,943 | — | 1,679 | 28,943 | 30,622 | 5,048 | 25,574 | 2009 | 2013 | 35 years | |||||||||
Elmcroft of Rivershire | Conroe | TX | — | 860 | 32,671 | 1,046 | 860 | 33,717 | 34,577 | 7,978 | 26,599 | 1997 | 2011 | 35 years | |||||||||
Flower Mound | Flower Mound | TX | — | 900 | 5,512 | — | 900 | 5,512 | 6,412 | 1,335 | 5,077 | 1995 | 2011 | 35 years | |||||||||
Arbor House Granbury | Granbury | TX | — | 390 | 8,186 | — | 390 | 8,186 | 8,576 | 1,597 | 6,979 | 2007 | 2012 | 35 years | |||||||||
Copperfield Estates | Houston | TX | — | 1,216 | 21,135 | — | 1,216 | 21,135 | 22,351 | 3,686 | 18,665 | 2009 | 2013 | 35 years | |||||||||
Elmcroft of Braeswood | Houston | TX | — | 3,970 | 15,919 | 1,032 | 3,970 | 16,951 | 20,921 | 4,309 | 16,612 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Cy-Fair | Houston | TX | — | 1,580 | 21,801 | 1,027 | 1,593 | 22,815 | 24,408 | 5,409 | 18,999 | 1998 | 2011 | 35 years | |||||||||
Elmcroft of Irving | Irving | TX | — | 1,620 | 18,755 | (12,731 | ) | 1,585 | 6,059 | 7,644 | 4,794 | 2,850 | 1999 | 2011 | 35 years | ||||||||
Whitley Place | Keller | TX | — | — | 5,100 | 773 | — | 5,873 | 5,873 | 1,677 | 4,196 | 1998 | 2008 | 35 years | |||||||||
Elmcroft of Lake Jackson | Lake Jackson | TX | — | 710 | 14,765 | 920 | 710 | 15,685 | 16,395 | 3,876 | 12,519 | 1998 | 2011 | 35 years | |||||||||
Arbor House Lewisville | Lewisville | TX | — | 824 | 10,308 | — | 824 | 10,308 | 11,132 | 2,018 | 9,114 | 2007 | 2012 | 35 years | |||||||||
Polo Park Estates | Midland | TX | — | 765 | 29,447 | — | 765 | 29,447 | 30,212 | 5,114 | 25,098 | 1996 | 2013 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Arbor Hills Memory Care Community | Plano | TX | — | 1,014 | 5,719 | — | 1,014 | 5,719 | 6,733 | 1,038 | 5,695 | 2013 | 2013 | 35 years | |||||||||
Arbor House of Rockwall | Rockwall | TX | — | 1,537 | 12,883 | — | 1,537 | 12,883 | 14,420 | 2,534 | 11,886 | 2009 | 2012 | 35 years | |||||||||
Elmcroft of Windcrest | San Antonio | TX | — | 920 | 13,011 | 952 | 921 | 13,962 | 14,883 | 3,615 | 11,268 | 1999 | 2011 | 35 years | |||||||||
Paradise Springs | Spring | TX | — | 1,488 | 24,556 | — | 1,488 | 24,556 | 26,044 | 4,284 | 21,760 | 2008 | 2013 | 35 years | |||||||||
Arbor House of Temple | Temple | TX | — | 473 | 6,750 | — | 473 | 6,750 | 7,223 | 1,320 | 5,903 | 2008 | 2012 | 35 years | |||||||||
Elmcroft of Cottonwood | Temple | TX | — | 630 | 17,515 | 890 | 630 | 18,405 | 19,035 | 4,442 | 14,593 | 1997 | 2011 | 35 years | |||||||||
Elmcroft of Mainland | Texas City | TX | — | 520 | 14,849 | 1,016 | 520 | 15,865 | 16,385 | 3,924 | 12,461 | 1996 | 2011 | 35 years | |||||||||
Elmcroft of Victoria | Victoria | TX | — | 440 | 13,040 | 904 | 446 | 13,938 | 14,384 | 3,459 | 10,925 | 1997 | 2011 | 35 years | |||||||||
Arbor House of Weatherford | Weatherford | TX | — | 233 | 3,347 | — | 233 | 3,347 | 3,580 | 655 | 2,925 | 1994 | 2012 | 35 years | |||||||||
Elmcroft of Wharton | Wharton | TX | — | 320 | 13,799 | 978 | 320 | 14,777 | 15,097 | 3,794 | 11,303 | 1996 | 2011 | 35 years | |||||||||
Mountain Ridge | South Ogden | UT | — | 1,243 | 24,659 | — | 1,243 | 24,659 | 25,902 | 3,332 | 22,570 | 2001 | 2014 | 35 years | |||||||||
Elmcroft of Chesterfield | Richmond | VA | — | 829 | 6,534 | 450 | 836 | 6,977 | 7,813 | 2,349 | 5,464 | 1999 | 2006 | 35 years | |||||||||
Pheasant Ridge | Roanoke | VA | — | 1,813 | 9,027 | — | 1,813 | 9,027 | 10,840 | 1,870 | 8,970 | 1999 | 2012 | 35 years | |||||||||
Cascade Valley Senior Living | Arlington | WA | — | 1,413 | 6,294 | — | 1,413 | 6,294 | 7,707 | 857 | 6,850 | 1995 | 2014 | 35 years | |||||||||
The Bellingham at Orchard | Bellingham | WA | — | 3,383 | 17,553 | (10 | ) | 3,381 | 17,545 | 20,926 | 2,094 | 18,832 | 1999 | 2015 | 35 years | ||||||||
Bay Pointe Retirement | Bremerton | WA | — | 2,114 | 21,006 | (23 | ) | 2,114 | 20,983 | 23,097 | 2,451 | 20,646 | 1999 | 2015 | 35 years | ||||||||
Cooks Hill Manor | Centralia | WA | — | 520 | 6,144 | 35 | 520 | 6,179 | 6,699 | 1,572 | 5,127 | 1993 | 2011 | 35 years | |||||||||
Edmonds Landing | Edmonds | WA | — | 4,273 | 27,852 | (188 | ) | 4,273 | 27,664 | 31,937 | 3,167 | 28,770 | 2001 | 2015 | 35 years | ||||||||
The Terrace at Beverly Lake | Everett | WA | — | 1,515 | 12,520 | 35 | 1,514 | 12,556 | 14,070 | 1,482 | 12,588 | 1998 | 2015 | 35 years | |||||||||
The Sequoia | Olympia | WA | — | 1,490 | 13,724 | 108 | 1,490 | 13,832 | 15,322 | 3,352 | 11,970 | 1995 | 2011 | 35 years | |||||||||
Bishop Place Senior Living | Pullman | WA | — | 1,780 | 33,608 | — | 1,780 | 33,608 | 35,388 | 4,494 | 30,894 | 1998 | 2014 | 35 years | |||||||||
Willow Gardens | Puyallup | WA | — | 1,959 | 35,492 | — | 1,959 | 35,492 | 37,451 | 6,188 | 31,263 | 1996 | 2013 | 35 years | |||||||||
Birchview | Sedro-Woolley | WA | — | 210 | 14,145 | 98 | 210 | 14,243 | 14,453 | 3,189 | 11,264 | 1996 | 2011 | 35 years | |||||||||
Discovery Memory care | Sequim | WA | — | 320 | 10,544 | 182 | 320 | 10,726 | 11,046 | 2,503 | 8,543 | 1961 | 2011 | 35 years | |||||||||
The Village Retirement & Assisted Living | Tacoma | WA | — | 2,200 | 5,938 | 1,788 | 2,200 | 7,726 | 9,926 | 1,833 | 8,093 | 1976 | 2011 | 35 years | |||||||||
Clearwater Springs | Vancouver | WA | — | 1,269 | 9,840 | (126 | ) | 1,269 | 9,714 | 10,983 | 1,234 | 9,749 | 2003 | 2015 | 35 years | ||||||||
Matthews of Appleton I | Appleton | WI | — | 130 | 1,834 | (41 | ) | 130 | 1,793 | 1,923 | 469 | 1,454 | 1996 | 2011 | 35 years | ||||||||
Matthews of Appleton II | Appleton | WI | — | 140 | 2,016 | 301 | 140 | 2,317 | 2,457 | 567 | 1,890 | 1997 | 2011 | 35 years | |||||||||
Hunters Ridge | Beaver Dam | WI | — | 260 | 2,380 | — | 260 | 2,380 | 2,640 | 594 | 2,046 | 1998 | 2011 | 35 years | |||||||||
Harbor House Beloit | Beloit | WI | — | 150 | 4,356 | 427 | 191 | 4,742 | 4,933 | 1,059 | 3,874 | 1990 | 2011 | 35 years | |||||||||
Harbor House Clinton | Clinton | WI | — | 290 | 4,390 | — | 290 | 4,390 | 4,680 | 1,018 | 3,662 | 1991 | 2011 | 35 years | |||||||||
Creekside | Cudahy | WI | — | 760 | 1,693 | — | 760 | 1,693 | 2,453 | 455 | 1,998 | 2001 | 2011 | 35 years | |||||||||
Harbor House Eau Claire | Eau Claire | WI | — | 210 | 6,259 | — | 210 | 6,259 | 6,469 | 1,426 | 5,043 | 1996 | 2011 | 35 years | |||||||||
Azura Memory Care of Eau Claire | Eau Claire | WI | — | 813 | 3,921 | — | 813 | 3,921 | 4,734 | — | 4,734 | CIP | CIP | CIP | |||||||||
Chapel Valley | Fitchburg | WI | — | 450 | 2,372 | — | 450 | 2,372 | 2,822 | 600 | 2,222 | 1998 | 2011 | 35 years | |||||||||
Matthews of Milwaukee II | Fox Point | WI | — | 1,810 | 943 | 37 | 1,820 | 970 | 2,790 | 354 | 2,436 | 1999 | 2011 | 35 years | |||||||||
Laurel Oaks | Glendale | WI | — | 2,390 | 43,587 | 5,130 | 2,510 | 48,597 | 51,107 | 10,873 | 40,234 | 1988 | 2011 | 35 years | |||||||||
Layton Terrace | Greenfield | WI | — | 3,490 | 39,201 | 566 | 3,480 | 39,777 | 43,257 | 9,315 | 33,942 | 1999 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Matthews of Hartland | Hartland | WI | — | 640 | 1,663 | 43 | 652 | 1,694 | 2,346 | 536 | 1,810 | 1985 | 2011 | 35 years | |||||||||
Matthews of Horicon | Horicon | WI | — | 340 | 3,327 | (95 | ) | 345 | 3,227 | 3,572 | 910 | 2,662 | 2002 | 2011 | 35 years | ||||||||
Jefferson | Jefferson | WI | — | 330 | 2,384 | — | 330 | 2,384 | 2,714 | 595 | 2,119 | 1997 | 2011 | 35 years | |||||||||
Harbor House Kenosha | Kenosha | WI | — | 710 | 3,254 | 3,765 | 1,165 | 6,564 | 7,729 | 1,342 | 6,387 | 1996 | 2011 | 35 years | |||||||||
Harbor House Manitowoc | Manitowoc | WI | — | 140 | 1,520 | — | 140 | 1,520 | 1,660 | 371 | 1,289 | 1997 | 2011 | 35 years | |||||||||
The Arboretum | Menomonee Falls | WI | — | 5,640 | 49,083 | 2,158 | 5,640 | 51,241 | 56,881 | 12,389 | 44,492 | 1989 | 2011 | 35 years | |||||||||
Matthews of Milwaukee I | Milwaukee | WI | — | 1,800 | 935 | 119 | 1,800 | 1,054 | 2,854 | 372 | 2,482 | 1999 | 2011 | 35 years | |||||||||
Hart Park Square | Milwaukee | WI | — | 1,900 | 21,628 | 69 | 1,900 | 21,697 | 23,597 | 5,104 | 18,493 | 2005 | 2011 | 35 years | |||||||||
Harbor House Monroe | Monroe | WI | — | 490 | 4,964 | — | 490 | 4,964 | 5,454 | 1,164 | 4,290 | 1990 | 2011 | 35 years | |||||||||
Matthews of Neenah I | Neenah | WI | — | 710 | 1,157 | 64 | 713 | 1,218 | 1,931 | 391 | 1,540 | 2006 | 2011 | 35 years | |||||||||
Matthews of Neenah II | Neenah | WI | — | 720 | 2,339 | (50 | ) | 720 | 2,289 | 3,009 | 664 | 2,345 | 2007 | 2011 | 35 years | ||||||||
Matthews of Irish Road | Neenah | WI | — | 320 | 1,036 | 87 | 320 | 1,123 | 1,443 | 367 | 1,076 | 2001 | 2011 | 35 years | |||||||||
Matthews of Oak Creek | Oak Creek | WI | — | 800 | 2,167 | (2 | ) | 812 | 2,153 | 2,965 | 586 | 2,379 | 1997 | 2011 | 35 years | ||||||||
Azura Memory Care of Oak Creek | Oak Creek | WI | — | 733 | 6,248 | 11 | 733 | 6,259 | 6,992 | 530 | 6,462 | 2017 | 2017 | 35 years | |||||||||
Harbor House Oconomowoc | Oconomowoc | WI | — | 400 | 1,596 | 4,674 | 709 | 5,961 | 6,670 | 836 | 5,834 | 2016 | 2015 | 35 years | |||||||||
Wilkinson Woods of Oconomowoc | Oconomowoc | WI | — | 1,100 | 12,436 | 157 | 1,100 | 12,593 | 13,693 | 2,949 | 10,744 | 1992 | 2011 | 35 years | |||||||||
Harbor House Oshkosh | Oshkosh | WI | — | 190 | 949 | — | 190 | 949 | 1,139 | 288 | 851 | 1993 | 2011 | 35 years | |||||||||
Matthews of Pewaukee | Pewaukee | WI | — | 1,180 | 4,124 | 206 | 1,197 | 4,313 | 5,510 | 1,208 | 4,302 | 2001 | 2011 | 35 years | |||||||||
Harbor House Sheboygan | Sheboygan | WI | — | 1,060 | 6,208 | — | 1,060 | 6,208 | 7,268 | 1,430 | 5,838 | 1995 | 2011 | 35 years | |||||||||
Matthews of St. Francis I | St. Francis | WI | — | 1,370 | 1,428 | (113 | ) | 1,389 | 1,296 | 2,685 | 414 | 2,271 | 2000 | 2011 | 35 years | ||||||||
Matthews of St. Francis II | St. Francis | WI | — | 1,370 | 1,666 | 15 | 1,377 | 1,674 | 3,051 | 491 | 2,560 | 2000 | 2011 | 35 years | |||||||||
Howard Village of St. Francis | St. Francis | WI | — | 2,320 | 17,232 | — | 2,320 | 17,232 | 19,552 | 4,139 | 15,413 | 2001 | 2011 | 35 years | |||||||||
Harbor House Stoughton | Stoughton | WI | — | 450 | 3,191 | — | 450 | 3,191 | 3,641 | 799 | 2,842 | 1992 | 2011 | 35 years | |||||||||
Oak Hill Terrace | Waukesha | WI | — | 2,040 | 40,298 | — | 2,040 | 40,298 | 42,338 | 9,523 | 32,815 | 1985 | 2011 | 35 years | |||||||||
Harbor House Rib Mountain | Wausau | WI | — | 350 | 3,413 | — | 350 | 3,413 | 3,763 | 808 | 2,955 | 1997 | 2011 | 35 years | |||||||||
Library Square | West Allis | WI | — | 1,160 | 23,714 | — | 1,160 | 23,714 | 24,874 | 5,554 | 19,320 | 1996 | 2011 | 35 years | |||||||||
Matthews of Wrightstown | Wrightstown | WI | — | 140 | 376 | 12 | 140 | 388 | 528 | 165 | 363 | 1999 | 2011 | 35 years | |||||||||
Madison House | Kirkland | WA | — | 4,291 | 26,787 | — | 4,291 | 26,787 | 31,078 | 1,661 | 29,417 | 1978 | 2017 | 35 years | |||||||||
Delaware Plaza | Longview | WA | 4,107 | 620 | 5,116 | 136 | 815 | 5,057 | 5,872 | 350 | 5,522 | 1972 | 2017 | 35 years | |||||||||
Canterbury Gardens | Longview | WA | 5,548 | 444 | 13,715 | 147 | 444 | 13,862 | 14,306 | 810 | 13,496 | 1998 | 2017 | 35 years | |||||||||
Canterbury Inn | Longview | WA | 14,568 | 1,462 | 34,664 | 837 | 1,462 | 35,501 | 36,963 | 2,066 | 34,897 | 1989 | 2017 | 35 years | |||||||||
Canterbury Park | Longview | WA | — | 969 | 30,109 | — | 969 | 30,109 | 31,078 | 1,835 | 29,243 | 2000 | 2017 | 35 years | |||||||||
Cascade Inn | Vancouver | WA | 12,378 | 3,201 | 19,024 | 2,028 | 3,201 | 21,052 | 24,253 | 1,225 | 23,028 | 1979 | 2017 | 35 years | |||||||||
The Hampton & Ashley Inn | Vancouver | WA | — | 1,855 | 21,047 | — | 1,855 | 21,047 | 22,902 | 1,277 | 21,625 | 1992 | 2017 | 35 years | |||||||||
The Hampton at Salmon Creek | Vancouver | WA | 11,815 | 1,256 | 21,686 | — | 1,256 | 21,686 | 22,942 | 1,135 | 21,807 | 2013 | 2017 | 35 years | |||||||||
Outlook Pointe at Teays Valley | Hurricane | WV | — | 1,950 | 14,489 | 315 | 1,950 | 14,804 | 16,754 | 3,372 | 13,382 | 1999 | 2011 | 35 years | |||||||||
Elmcroft of Martinsburg | Martinsburg | WV | — | 248 | 8,320 | 636 | 248 | 8,956 | 9,204 | 2,971 | 6,233 | 1999 | 2006 | 35 years | |||||||||
Garden Square Assisted Living of Casper | Casper | WY | — | 355 | 3,197 | — | 355 | 3,197 | 3,552 | 721 | 2,831 | 1996 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Whispering Chase | Cheyenne | WY | — | 1,800 | 20,354 | — | 1,800 | 20,354 | 22,154 | 3,564 | 18,590 | 2008 | 2013 | 35 years | |||||||||
Hampton Care | Hampton | UK | — | 4,119 | 29,021 | (3,344 | ) | 3,704 | 26,092 | 29,796 | 1,242 | 28,554 | 2007 | 2017 | 40 years | ||||||||
Parkfield House Nursing Home | Uxbridge | UK | — | 1,974 | 1,009 | (301 | ) | 1,775 | 907 | 2,682 | 55 | 2,627 | 2000 | 2017 | 40 years | ||||||||
TOTAL FOR OTHER SENIORS HOUSING COMMUNITIES | 285,427 | 507,536 | 4,784,635 | 107,023 | 500,765 | 4,898,429 | 5,399,194 | 976,561 | 4,422,633 | ||||||||||||||
TOTAL FOR SENIORS HOUSING COMMUNITIES | 656,603 | 1,473,289 | 13,932,497 | 678,693 | 1,476,647 | 14,607,832 | 16,084,479 | 3,852,533 | 12,231,946 | ||||||||||||||
MEDICAL OFFICE BUILDINGS | |||||||||||||||||||||||
St. Vincent's Medical Center East #46 | Birmingham | AL | — | — | 25,298 | 4,105 | — | 29,403 | 29,403 | 10,200 | 19,203 | 2005 | 2010 | 35 years | |||||||||
St. Vincent's Medical Center East #48 | Birmingham | AL | — | — | 12,698 | 807 | — | 13,505 | 13,505 | 4,084 | 9,421 | 1989 | 2010 | 35 years | |||||||||
St. Vincent's Medical Center East #52 | Birmingham | AL | — | — | 7,608 | 1,586 | — | 9,194 | 9,194 | 3,484 | 5,710 | 1985 | 2010 | 35 years | |||||||||
Crestwood Medical Pavilion | Huntsville | AL | 2,734 | 625 | 16,178 | 418 | 625 | 16,596 | 17,221 | 4,440 | 12,781 | 1994 | 2011 | 35 years | |||||||||
Davita Dialysis - Marked Tree | Marked Tree | AR | — | 179 | 1,580 | — | 179 | 1,580 | 1,759 | 255 | 1,504 | 2009 | 2015 | 35 years | |||||||||
West Valley Medical Center | Buckeye | AZ | — | 3,348 | 5,233 | — | 3,348 | 5,233 | 8,581 | 1,040 | 7,541 | 2011 | 2015 | 31 years | |||||||||
Canyon Springs Medical Plaza | Gilbert | AZ | — | — | 27,497 | 560 | — | 28,057 | 28,057 | 6,792 | 21,265 | 2007 | 2012 | 35 years | |||||||||
Mercy Gilbert Medical Plaza | Gilbert | AZ | 7,186 | 720 | 11,277 | 1,362 | 772 | 12,587 | 13,359 | 3,805 | 9,554 | 2007 | 2011 | 35 years | |||||||||
Mercy Gilbert II | Gilbert | AZ | 1,937 | — | 5,218 | — | — | 5,218 | 5,218 | — | 5,218 | CIP | CIP | CIP | |||||||||
Arrowhead Physicians Plaza | Glendale | AZ | 10,398 | 308 | 19,671 | — | 308 | 19,671 | 19,979 | 109 | 19,870 | 2004 | 2018 | 35 years | |||||||||
Thunderbird Paseo Medical Plaza | Glendale | AZ | — | — | 12,904 | 905 | 20 | 13,789 | 13,809 | 3,418 | 10,391 | 1997 | 2011 | 35 years | |||||||||
Thunderbird Paseo Medical Plaza II | Glendale | AZ | — | — | 8,100 | 572 | 20 | 8,652 | 8,672 | 2,259 | 6,413 | 2001 | 2011 | 35 years | |||||||||
Desert Medical Pavilion | Mesa | AZ | — | — | 32,768 | 629 | — | 33,397 | 33,397 | 5,982 | 27,415 | 2003 | 2013 | 35 years | |||||||||
Desert Samaritan Medical Building I | Mesa | AZ | — | — | 11,923 | 904 | 4 | 12,823 | 12,827 | 3,059 | 9,768 | 1977 | 2011 | 35 years | |||||||||
Desert Samaritan Medical Building II | Mesa | AZ | — | — | 7,395 | 614 | 4 | 8,005 | 8,009 | 2,061 | 5,948 | 1980 | 2011 | 35 years | |||||||||
Desert Samaritan Medical Building III | Mesa | AZ | — | — | 13,665 | 1,509 | — | 15,174 | 15,174 | 3,774 | 11,400 | 1986 | 2011 | 35 years | |||||||||
Deer Valley Medical Office Building II | Phoenix | AZ | — | — | 22,663 | 857 | 14 | 23,506 | 23,520 | 5,586 | 17,934 | 2002 | 2011 | 35 years | |||||||||
Deer Valley Medical Office Building III | Phoenix | AZ | — | — | 19,521 | 320 | 12 | 19,829 | 19,841 | 4,934 | 14,907 | 2009 | 2011 | 35 years | |||||||||
Papago Medical Park | Phoenix | AZ | — | — | 12,172 | 1,588 | — | 13,760 | 13,760 | 3,553 | 10,207 | 1989 | 2011 | 35 years | |||||||||
North Valley Orthopedic Surgery Center | Phoenix | AZ | — | 2,800 | 10,150 | — | 2,800 | 10,150 | 12,950 | 1,512 | 11,438 | 2006 | 2015 | 35 years | |||||||||
Burbank Medical Plaza | Burbank | CA | — | 1,241 | 23,322 | 1,443 | 1,268 | 24,738 | 26,006 | 7,040 | 18,966 | 2004 | 2011 | 35 years | |||||||||
Burbank Medical Plaza II | Burbank | CA | 33,042 | 491 | 45,641 | 569 | 497 | 46,204 | 46,701 | 11,243 | 35,458 | 2008 | 2011 | 35 years | |||||||||
Eden Medical Plaza | Castro Valley | CA | — | 258 | 2,455 | 395 | 328 | 2,780 | 3,108 | 1,333 | 1,775 | 1998 | 2011 | 25 years | |||||||||
Sutter Medical Center | Castro Valley | CA | — | — | 25,088 | 1,388 | — | 26,476 | 26,476 | 4,569 | 21,907 | 2012 | 2012 | 35 years | |||||||||
United Healthcare - Cypress | Cypress | CA | — | 12,883 | 38,309 | — | 12,883 | 38,309 | 51,192 | 7,270 | 43,922 | 1985 | 2015 | 29 years | |||||||||
NorthBay Corporate Headquarters | Fairfield | CA | — | — | 19,187 | — | — | 19,187 | 19,187 | 3,674 | 15,513 | 2008 | 2012 | 35 years | |||||||||
Gateway Medical Plaza | Fairfield | CA | — | — | 12,872 | 87 | — | 12,959 | 12,959 | 2,472 | 10,487 | 1986 | 2012 | 35 years | |||||||||
Solano NorthBay Health Plaza | Fairfield | CA | — | — | 8,880 | 39 | — | 8,919 | 8,919 | 1,699 | 7,220 | 1990 | 2012 | 35 years | |||||||||
NorthBay Healthcare MOB | Fairfield | CA | — | — | 8,507 | 2,280 | — | 10,787 | 10,787 | 2,611 | 8,176 | 2014 | 2013 | 35 years | |||||||||
UC Davis Medical | Folsom | CA | — | 1,873 | 10,156 | 28 | 1,873 | 10,184 | 12,057 | 1,648 | 10,409 | 1995 | 2015 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Verdugo Hills Medical Bulding I | Glendale | CA | — | 6,683 | 9,589 | 2,050 | 6,693 | 11,629 | 18,322 | 4,083 | 14,239 | 1972 | 2012 | 23 years | |||||||||
Verdugo Hills Medical Bulding II | Glendale | CA | — | 4,464 | 3,731 | 2,619 | 4,484 | 6,330 | 10,814 | 2,726 | 8,088 | 1987 | 2012 | 19 years | |||||||||
Grossmont Medical Terrace | La Mesa | CA | — | 88 | 14,192 | 303 | 88 | 14,495 | 14,583 | 1,367 | 13,216 | 2008 | 2016 | 35 years | |||||||||
Los Alamitos Medical & Wellness Pavilion | Los Alamitos | CA | 12,080 | 488 | 31,720 | — | 488 | 31,720 | 32,208 | 175 | 32,033 | 2013 | 2018 | 35 years | |||||||||
St. Francis Lynwood Medical | Lynwood | CA | — | 688 | 8,385 | 1,832 | 697 | 10,208 | 10,905 | 3,784 | 7,121 | 1993 | 2011 | 32 years | |||||||||
PMB Mission Hills | Mission Hills | CA | — | 15,468 | 30,116 | 4,729 | 15,468 | 34,845 | 50,313 | 6,082 | 44,231 | 2012 | 2012 | 35 years | |||||||||
PDP Mission Viejo | Mission Viejo | CA | 55,205 | 1,916 | 77,022 | 1,304 | 1,916 | 78,326 | 80,242 | 19,746 | 60,496 | 2007 | 2011 | 35 years | |||||||||
PDP Orange | Orange | CA | 44,029 | 1,752 | 61,647 | 1,758 | 1,761 | 63,396 | 65,157 | 16,138 | 49,019 | 2008 | 2011 | 35 years | |||||||||
NHP/PMB Pasadena | Pasadena | CA | — | 3,138 | 83,412 | 9,760 | 3,138 | 93,172 | 96,310 | 28,078 | 68,232 | 2009 | 2011 | 35 years | |||||||||
Western University of Health Sciences Medical Pavilion | Pomona | CA | — | 91 | 31,523 | — | 91 | 31,523 | 31,614 | 7,554 | 24,060 | 2009 | 2011 | 35 years | |||||||||
Pomerado Outpatient Pavilion | Poway | CA | — | 3,233 | 71,435 | 3,045 | 3,233 | 74,480 | 77,713 | 20,580 | 57,133 | 2007 | 2011 | 35 years | |||||||||
San Bernadino Medical Plaza I | San Bernadino | CA | — | 789 | 11,133 | 1,152 | 797 | 12,277 | 13,074 | 10,870 | 2,204 | 1971 | 2011 | 27 years | |||||||||
San Bernadino Medical Plaza II | San Bernadino | CA | — | 416 | 5,625 | 1,003 | 421 | 6,623 | 7,044 | 3,384 | 3,660 | 1988 | 2011 | 26 years | |||||||||
Sutter Van Ness | San Francisco | CA | 75,471 | — | 127,750 | — | — | 127,750 | 127,750 | — | 127,750 | CIP | CIP | CIP | |||||||||
San Gabriel Valley Medical | San Gabriel | CA | — | 914 | 5,510 | 802 | 963 | 6,263 | 7,226 | 2,593 | 4,633 | 2004 | 2011 | 35 years | |||||||||
Santa Clarita Valley Medical | Santa Clarita | CA | 21,812 | 9,708 | 20,020 | 1,605 | 9,782 | 21,551 | 31,333 | 5,953 | 25,380 | 2005 | 2011 | 35 years | |||||||||
Kenneth E Watts Medical Plaza | Torrance | CA | — | 262 | 6,945 | 2,879 | 343 | 9,743 | 10,086 | 3,926 | 6,160 | 1989 | 2011 | 23 years | |||||||||
Vaca Valley Health Plaza | Vacaville | CA | — | — | 9,634 | 709 | — | 10,343 | 10,343 | 1,847 | 8,496 | 1988 | 2012 | 35 years | |||||||||
Potomac Medical Plaza | Aurora | CO | — | 2,401 | 9,118 | 4,066 | 2,800 | 12,785 | 15,585 | 6,119 | 9,466 | 1986 | 2007 | 35 years | |||||||||
Briargate Medical Campus | Colorado Springs | CO | — | 1,238 | 12,301 | 517 | 1,269 | 12,787 | 14,056 | 5,064 | 8,992 | 2002 | 2007 | 35 years | |||||||||
Printers Park Medical Plaza | Colorado Springs | CO | — | 2,641 | 47,507 | 1,921 | 2,641 | 49,428 | 52,069 | 19,408 | 32,661 | 1999 | 2007 | 35 years | |||||||||
Green Valley Ranch MOB | Denver | CO | 5,313 | — | 12,139 | 1,019 | 235 | 12,923 | 13,158 | 2,242 | 10,916 | 2007 | 2012 | 35 years | |||||||||
Community Physicians Pavilion | Lafayette | CO | — | — | 10,436 | 1,763 | — | 12,199 | 12,199 | 4,048 | 8,151 | 2004 | 2010 | 35 years | |||||||||
Exempla Good Samaritan Medical Center | Lafayette | CO | — | — | 4,393 | (75 | ) | — | 4,318 | 4,318 | 627 | 3,691 | 2013 | 2013 | 35 years | ||||||||
Dakota Ridge | Littleton | CO | — | 2,540 | 12,901 | 472 | 2,549 | 13,364 | 15,913 | 1,948 | 13,965 | 2007 | 2015 | 35 years | |||||||||
Avista Two Medical Plaza | Louisville | CO | — | — | 17,330 | 1,864 | — | 19,194 | 19,194 | 6,790 | 12,404 | 2003 | 2009 | 35 years | |||||||||
The Sierra Medical Building | Parker | CO | — | 1,444 | 14,059 | 3,349 | 1,516 | 17,336 | 18,852 | 7,469 | 11,383 | 2009 | 2009 | 35 years | |||||||||
Crown Point Healthcare Plaza | Parker | CO | — | 852 | 5,210 | 137 | 855 | 5,344 | 6,199 | 1,067 | 5,132 | 2008 | 2013 | 35 years | |||||||||
Lutheran Medical Office Building II | Wheat Ridge | CO | — | — | 2,655 | 1,541 | — | 4,196 | 4,196 | 1,592 | 2,604 | 1976 | 2010 | 35 years | |||||||||
Lutheran Medical Office Building IV | Wheat Ridge | CO | — | — | 7,266 | 2,340 | — | 9,606 | 9,606 | 2,954 | 6,652 | 1991 | 2010 | 35 years | |||||||||
Lutheran Medical Office Building III | Wheat Ridge | CO | — | — | 11,947 | 1,572 | — | 13,519 | 13,519 | 3,796 | 9,723 | 2004 | 2010 | 35 years | |||||||||
DePaul Professional Office Building | Washington | DC | — | — | 6,424 | 2,526 | — | 8,950 | 8,950 | 3,798 | 5,152 | 1987 | 2010 | 35 years | |||||||||
Providence Medical Office Building | Washington | DC | — | — | 2,473 | 1,141 | — | 3,614 | 3,614 | 1,629 | 1,985 | 1975 | 2010 | 35 years | |||||||||
RTS Arcadia | Arcadia | FL | — | 345 | 2,884 | — | 345 | 2,884 | 3,229 | 889 | 2,340 | 1993 | 2011 | 30 years | |||||||||
NorthBay Center For Primary Care - Vacaville | Vacaville | CA | — | 777 | 5,632 | 300 | 777 | 5,932 | 6,709 | 240 | 6,469 | 1998 | 2017 | 35 years | |||||||||
RTS Cape Coral | Cape Coral | FL | — | 368 | 5,448 | — | 368 | 5,448 | 5,816 | 1,419 | 4,397 | 1984 | 2011 | 34 years | |||||||||
RTS Englewood | Englewood | FL | — | 1,071 | 3,516 | — | 1,071 | 3,516 | 4,587 | 982 | 3,605 | 1992 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
RTS Ft. Myers | Fort Myers | FL | — | 1,153 | 4,127 | — | 1,153 | 4,127 | 5,280 | 1,288 | 3,992 | 1989 | 2011 | 31 years | |||||||||
RTS Key West | Key West | FL | — | 486 | 4,380 | — | 486 | 4,380 | 4,866 | 1,015 | 3,851 | 1987 | 2011 | 35 years | |||||||||
JFK Medical Plaza | Lake Worth | FL | — | 453 | 1,711 | (150 | ) | — | 2,014 | 2,014 | 860 | 1,154 | 1999 | 2004 | 35 years | ||||||||
East Pointe Medical Plaza | Lehigh Acres | FL | — | 327 | 11,816 | — | 327 | 11,816 | 12,143 | 1,625 | 10,518 | 1994 | 2015 | 35 years | |||||||||
Palms West Building 6 | Loxahatchee | FL | — | 965 | 2,678 | (811 | ) | — | 2,832 | 2,832 | 1,194 | 1,638 | 2000 | 2004 | 35 years | ||||||||
Bay Medical Plaza | Lynn Haven | FL | — | 4,215 | 15,041 | (13,584 | ) | 3,644 | 2,028 | 5,672 | 2,379 | 3,293 | 2003 | 2015 | 35 years | ||||||||
RTS Naples | Naples | FL | — | 1,152 | 3,726 | — | 1,152 | 3,726 | 4,878 | 982 | 3,896 | 1999 | 2011 | 35 years | |||||||||
Bay Medical Center | Panama City | FL | — | 82 | 17,400 | (14,930 | ) | 25 | 2,527 | 2,552 | 2,389 | 163 | 1987 | 2015 | 35 years | ||||||||
RTS Pt. Charlotte | Pt Charlotte | FL | — | 966 | 4,581 | — | 966 | 4,581 | 5,547 | 1,266 | 4,281 | 1985 | 2011 | 34 years | |||||||||
RTS Sarasota | Sarasota | FL | — | 1,914 | 3,889 | — | 1,914 | 3,889 | 5,803 | 1,133 | 4,670 | 1996 | 2011 | 35 years | |||||||||
Capital Regional MOB I | Tallahassee | FL | — | 590 | 8,773 | (329 | ) | 193 | 8,841 | 9,034 | 1,104 | 7,930 | 1998 | 2015 | 35 years | ||||||||
Athens Medical Complex | Athens | GA | — | 2,826 | 18,339 | 45 | 2,826 | 18,384 | 21,210 | 2,614 | 18,596 | 2011 | 2015 | 35 years | |||||||||
Doctors Center at St. Joseph's Hospital | Atlanta | GA | — | 545 | 80,152 | 17,858 | 545 | 98,010 | 98,555 | 14,865 | 83,690 | 1978 | 2015 | 20 years | |||||||||
Augusta POB I | Augusta | GA | — | 233 | 7,894 | 2,081 | 233 | 9,975 | 10,208 | 5,159 | 5,049 | 1978 | 2012 | 14 years | |||||||||
Augusta POB II | Augusta | GA | — | 735 | 13,717 | 1,175 | 735 | 14,892 | 15,627 | 5,722 | 9,905 | 1987 | 2012 | 23 years | |||||||||
Augusta POB III | Augusta | GA | — | 535 | 3,857 | 766 | 535 | 4,623 | 5,158 | 2,153 | 3,005 | 1994 | 2012 | 22 years | |||||||||
Augusta POB IV | Augusta | GA | — | 675 | 2,182 | 2,139 | 691 | 4,305 | 4,996 | 1,892 | 3,104 | 1995 | 2012 | 23 years | |||||||||
Cobb Physicians Center | Austell | GA | — | 1,145 | 16,805 | 1,486 | 1,145 | 18,291 | 19,436 | 5,981 | 13,455 | 1992 | 2011 | 35 years | |||||||||
Summit Professional Plaza I | Brunswick | GA | — | 1,821 | 2,974 | 136 | 1,821 | 3,110 | 4,931 | 3,207 | 1,724 | 2004 | 2012 | 31 years | |||||||||
Summit Professional Plaza II | Brunswick | GA | — | 981 | 13,818 | 143 | 981 | 13,961 | 14,942 | 3,884 | 11,058 | 1998 | 2012 | 35 years | |||||||||
Fayette MOB | Fayetteville | GA | — | 895 | 20,669 | 818 | 895 | 21,487 | 22,382 | 2,962 | 19,420 | 2004 | 2015 | 35 years | |||||||||
Woodlawn Commons 1121/1163 | Marietta | GA | — | 5,495 | 16,028 | 1,877 | 5,551 | 17,849 | 23,400 | 2,552 | 20,848 | 1991 | 2015 | 35 years | |||||||||
PAPP Clinic | Newnan | GA | — | 2,167 | 5,477 | 68 | 2,167 | 5,545 | 7,712 | 1,146 | 6,566 | 1994 | 2015 | 30 years | |||||||||
Parkway Physicians Center | Ringgold | GA | — | 476 | 10,017 | 880 | 476 | 10,897 | 11,373 | 3,503 | 7,870 | 2004 | 2011 | 35 years | |||||||||
Riverdale MOB | Riverdale | GA | — | 1,025 | 9,783 | 106 | 1,025 | 9,889 | 10,914 | 1,564 | 9,350 | 2005 | 2015 | 35 years | |||||||||
Rush Copley POB I | Aurora | IL | — | 120 | 27,882 | 456 | 120 | 28,338 | 28,458 | 3,980 | 24,478 | 1996 | 2015 | 34 years | |||||||||
Rush Copley POB II | Aurora | IL | — | 49 | 27,217 | 471 | 49 | 27,688 | 27,737 | 3,782 | 23,955 | 2009 | 2015 | 35 years | |||||||||
Good Shepherd Physician Office Building I | Barrington | IL | — | 152 | 3,224 | 208 | 152 | 3,432 | 3,584 | 665 | 2,919 | 1979 | 2013 | 35 years | |||||||||
Good Shepherd Physician Office Building II | Barrington | IL | — | 512 | 12,977 | 682 | 512 | 13,659 | 14,171 | 2,617 | 11,554 | 1996 | 2013 | 35 years | |||||||||
Trinity Hospital Physician Office Building | Chicago | IL | — | 139 | 3,329 | 1,245 | 139 | 4,574 | 4,713 | 912 | 3,801 | 1971 | 2013 | 35 years | |||||||||
Advocate Beverly Center | Chicago | IL | — | 2,227 | 10,140 | 363 | 2,231 | 10,499 | 12,730 | 2,122 | 10,608 | 1986 | 2015 | 25 years | |||||||||
Crystal Lakes Medical Arts | Crystal Lake | IL | — | 2,490 | 19,504 | 99 | 2,535 | 19,558 | 22,093 | 2,966 | 19,127 | 2007 | 2015 | 35 years | |||||||||
Advocate Good Shepherd | Crystal Lake | IL | — | 2,444 | 10,953 | 202 | 2,444 | 11,155 | 13,599 | 1,952 | 11,647 | 2008 | 2015 | 33 years | |||||||||
Physicians Plaza East | Decatur | IL | — | — | 791 | 2,418 | — | 3,209 | 3,209 | 978 | 2,231 | 1976 | 2010 | 35 years | |||||||||
Physicians Plaza West | Decatur | IL | — | — | 1,943 | 771 | — | 2,714 | 2,714 | 1,085 | 1,629 | 1987 | 2010 | 35 years | |||||||||
SIU Family Practice | Decatur | IL | — | — | 3,900 | 3,778 | — | 7,678 | 7,678 | 2,489 | 5,189 | 1996 | 2010 | 35 years | |||||||||
304 W Hay Building | Decatur | IL | — | — | 8,702 | 1,372 | 29 | 10,045 | 10,074 | 3,120 | 6,954 | 2002 | 2010 | 35 years | |||||||||
302 W Hay Building | Decatur | IL | — | — | 3,467 | 858 | — | 4,325 | 4,325 | 1,547 | 2,778 | 1993 | 2010 | 35 years | |||||||||
ENTA | Decatur | IL | — | — | 1,150 | 16 | — | 1,166 | 1,166 | 457 | 709 | 1996 | 2010 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
301 W Hay Building | Decatur | IL | — | — | 640 | — | — | 640 | 640 | 346 | 294 | 1980 | 2010 | 35 years | |||||||||
South Shore Medical Building | Decatur | IL | — | 902 | 129 | 56 | 958 | 129 | 1,087 | 215 | 872 | 1991 | 2010 | 35 years | |||||||||
Kenwood Medical Center | Decatur | IL | — | — | 1,689 | 1,517 | — | 3,206 | 3,206 | 898 | 2,308 | 1997 | 2010 | 35 years | |||||||||
Corporate Health Services | Decatur | IL | — | 934 | 1,386 | 125 | 934 | 1,511 | 2,445 | 671 | 1,774 | 1996 | 2010 | 35 years | |||||||||
Rock Springs Medical | Decatur | IL | — | 399 | 495 | — | 399 | 495 | 894 | 255 | 639 | 1990 | 2010 | 35 years | |||||||||
575 W Hay Building | Decatur | IL | — | 111 | 739 | 24 | 111 | 763 | 874 | 322 | 552 | 1984 | 2010 | 35 years | |||||||||
Good Samaritan Physician Office Building I | Downers Grove | IL | — | 407 | 10,337 | 1,169 | 407 | 11,506 | 11,913 | 2,120 | 9,793 | 1976 | 2013 | 35 years | |||||||||
Good Samaritan Physician Office Building II | Downers Grove | IL | — | 1,013 | 25,370 | 862 | 1,013 | 26,232 | 27,245 | 4,856 | 22,389 | 1995 | 2013 | 35 years | |||||||||
Eberle Medical Office Building ("Eberle MOB") | Elk Grove Village | IL | — | — | 16,315 | 689 | — | 17,004 | 17,004 | 6,889 | 10,115 | 2005 | 2009 | 35 years | |||||||||
1425 Hunt Club Road MOB | Gurnee | IL | — | 249 | 1,452 | 819 | 282 | 2,238 | 2,520 | 743 | 1,777 | 2005 | 2011 | 34 years | |||||||||
1445 Hunt Club Drive | Gurnee | IL | — | 216 | 1,405 | 364 | 216 | 1,769 | 1,985 | 876 | 1,109 | 2002 | 2011 | 31 years | |||||||||
Gurnee Imaging Center | Gurnee | IL | — | 82 | 2,731 | — | 82 | 2,731 | 2,813 | 756 | 2,057 | 2002 | 2011 | 35 years | |||||||||
Gurnee Center Club | Gurnee | IL | — | 627 | 17,851 | — | 627 | 17,851 | 18,478 | 5,144 | 13,334 | 2001 | 2011 | 35 years | |||||||||
South Suburban Hospital Physician Office Building | Hazel Crest | IL | — | 191 | 4,370 | 740 | 191 | 5,110 | 5,301 | 977 | 4,324 | 1989 | 2013 | 35 years | |||||||||
755 Milwaukee MOB | Libertyville | IL | — | 421 | 3,716 | 1,685 | 630 | 5,192 | 5,822 | 3,067 | 2,755 | 1990 | 2011 | 18 years | |||||||||
890 Professional MOB | Libertyville | IL | — | 214 | 2,630 | 376 | 214 | 3,006 | 3,220 | 1,176 | 2,044 | 1980 | 2011 | 26 years | |||||||||
Libertyville Center Club | Libertyville | IL | — | 1,020 | 17,176 | — | 1,020 | 17,176 | 18,196 | 5,129 | 13,067 | 1988 | 2011 | 35 years | |||||||||
Christ Medical Center Physician Office Building | Oak Lawn | IL | — | 658 | 16,421 | 1,744 | 658 | 18,165 | 18,823 | 3,097 | 15,726 | 1986 | 2013 | 35 years | |||||||||
Methodist North MOB | Peoria | IL | — | 1,025 | 29,493 | 1 | 1,025 | 29,494 | 30,519 | 4,125 | 26,394 | 2010 | 2015 | 35 years | |||||||||
Davita Dialysis - Rockford | Rockford | IL | — | 256 | 2,543 | — | 256 | 2,543 | 2,799 | 419 | 2,380 | 2009 | 2015 | 35 years | |||||||||
Round Lake ACC | Round Lake | IL | — | 758 | 370 | 383 | 799 | 712 | 1,511 | 604 | 907 | 1984 | 2011 | 13 years | |||||||||
Vernon Hills Acute Care Center | Vernon Hills | IL | — | 3,376 | 694 | 290 | 3,413 | 947 | 4,360 | 749 | 3,611 | 1986 | 2011 | 15 years | |||||||||
Wilbur S. Roby Building | Anderson | IN | — | — | 2,653 | 1,050 | — | 3,703 | 3,703 | 1,596 | 2,107 | 1992 | 2010 | 35 years | |||||||||
Ambulatory Services Building | Anderson | IN | — | — | 4,266 | 1,855 | — | 6,121 | 6,121 | 2,603 | 3,518 | 1995 | 2010 | 35 years | |||||||||
St. John's Medical Arts Building | Anderson | IN | — | — | 2,281 | 2,009 | — | 4,290 | 4,290 | 1,438 | 2,852 | 1973 | 2010 | 35 years | |||||||||
Carmel I | Carmel | IN | — | 466 | 5,954 | 703 | 466 | 6,657 | 7,123 | 2,143 | 4,980 | 1985 | 2012 | 30 years | |||||||||
Carmel II | Carmel | IN | — | 455 | 5,976 | 816 | 455 | 6,792 | 7,247 | 1,990 | 5,257 | 1989 | 2012 | 33 years | |||||||||
Carmel III | Carmel | IN | — | 422 | 6,194 | 845 | 422 | 7,039 | 7,461 | 1,872 | 5,589 | 2001 | 2012 | 35 years | |||||||||
Elkhart | Elkhart | IN | — | 1,256 | 1,973 | — | 1,256 | 1,973 | 3,229 | 1,282 | 1,947 | 1994 | 2011 | 32 years | |||||||||
Lutheran Medical Arts | Fort Wayne | IN | — | 702 | 13,576 | 47 | 702 | 13,623 | 14,325 | 1,960 | 12,365 | 2000 | 2015 | 35 years | |||||||||
Dupont Road MOB | Fort Wayne | IN | — | 633 | 13,479 | 266 | 672 | 13,706 | 14,378 | 2,127 | 12,251 | 2001 | 2015 | 35 years | |||||||||
Harcourt Professional Office Building | Indianapolis | IN | — | 519 | 28,951 | 2,590 | 519 | 31,541 | 32,060 | 9,481 | 22,579 | 1973 | 2012 | 28 years | |||||||||
Cardiac Professional Office Building | Indianapolis | IN | — | 498 | 27,430 | 1,271 | 498 | 28,701 | 29,199 | 6,963 | 22,236 | 1995 | 2012 | 35 years | |||||||||
Oncology Medical Office Building | Indianapolis | IN | — | 470 | 5,703 | 430 | 470 | 6,133 | 6,603 | 1,857 | 4,746 | 2003 | 2012 | 35 years | |||||||||
CorVasc Medical Office Building | Indianapolis | IN | — | 514 | 9,617 | 460 | 867 | 9,724 | 10,591 | 922 | 9,669 | 2004 | 2016 | 36 years | |||||||||
St. Francis South Medical Office Building | Indianapolis | IN | — | — | 20,649 | 1,291 | 7 | 21,933 | 21,940 | 4,370 | 17,570 | 1995 | 2013 | 35 years | |||||||||
Methodist Professional Center I | Indianapolis | IN | — | 61 | 37,411 | 6,160 | 61 | 43,571 | 43,632 | 12,567 | 31,065 | 1985 | 2012 | 25 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Indiana Orthopedic Center of Excellence | Indianapolis | IN | — | 967 | 83,746 | 3,106 | 967 | 86,852 | 87,819 | 9,387 | 78,432 | 1997 | 2015 | 35 years | |||||||||
United Healthcare - Indy | Indianapolis | IN | — | 5,737 | 32,116 | — | 5,737 | 32,116 | 37,853 | 4,833 | 33,020 | 1988 | 2015 | 35 years | |||||||||
LaPorte | La Porte | IN | — | 553 | 1,309 | — | 553 | 1,309 | 1,862 | 552 | 1,310 | 1997 | 2011 | 34 years | |||||||||
Mishawaka | Mishawaka | IN | — | 3,787 | 5,543 | — | 3,787 | 5,543 | 9,330 | 3,741 | 5,589 | 1993 | 2011 | 35 years | |||||||||
Cancer Care Partners | Mishawaka | IN | — | 3,162 | 28,633 | — | 3,162 | 28,633 | 31,795 | 3,906 | 27,889 | 2010 | 2015 | 35 years | |||||||||
Michiana Oncology | Mishawaka | IN | — | 4,577 | 20,939 | 15 | 4,581 | 20,950 | 25,531 | 2,993 | 22,538 | 2010 | 2015 | 35 years | |||||||||
DaVita Dialysis - Paoli | Paoli | IN | — | 396 | 2,056 | — | 396 | 2,056 | 2,452 | 347 | 2,105 | 2011 | 2015 | 35 years | |||||||||
South Bend | South Bend | IN | — | 792 | 2,530 | — | 792 | 2,530 | 3,322 | 884 | 2,438 | 1996 | 2011 | 34 years | |||||||||
Via Christi Clinic | Wichita | KS | — | 1,883 | 7,428 | — | 1,883 | 7,428 | 9,311 | 1,233 | 8,078 | 2006 | 2015 | 35 years | |||||||||
OLBH Same Day Surgery Center MOB | Ashland | KY | — | 101 | 19,066 | 764 | 101 | 19,830 | 19,931 | 5,642 | 14,289 | 1997 | 2012 | 26 years | |||||||||
St. Elizabeth Covington | Covington | KY | — | 345 | 12,790 | 33 | 345 | 12,823 | 13,168 | 3,401 | 9,767 | 2009 | 2012 | 35 years | |||||||||
St. Elizabeth Florence MOB | Florence | KY | — | 402 | 8,279 | 1,440 | 402 | 9,719 | 10,121 | 3,124 | 6,997 | 2005 | 2012 | 35 years | |||||||||
Jefferson Clinic | Louisville | KY | — | — | 673 | 2,018 | — | 2,691 | 2,691 | 340 | 2,351 | 2013 | 2013 | 35 years | |||||||||
Medical Arts Courtyard | Lafayette | LA | — | 388 | 1,893 | 1,303 | 112 | 3,472 | 3,584 | 1,854 | 1,730 | 1984 | 2011 | 18 years | |||||||||
East Jefferson Medical Plaza | Metairie | LA | — | 168 | 17,264 | 2,829 | 168 | 20,093 | 20,261 | 6,789 | 13,472 | 1996 | 2012 | 32 years | |||||||||
East Jefferson MOB | Metairie | LA | — | 107 | 15,137 | 2,458 | 107 | 17,595 | 17,702 | 5,594 | 12,108 | 1985 | 2012 | 28 years | |||||||||
Lakeside POB I | Metairie | LA | — | 3,334 | 4,974 | 331 | 342 | 8,297 | 8,639 | 3,952 | 4,687 | 1986 | 2011 | 22 years | |||||||||
Lakeside POB II | Metairie | LA | — | 1,046 | 802 | (402 | ) | 53 | 1,393 | 1,446 | 1,059 | 387 | 1980 | 2011 | 7 years | ||||||||
Fresenius Medical | Metairie | LA | — | 1,195 | 3,797 | 35 | 1,195 | 3,832 | 5,027 | 573 | 4,454 | 2012 | 2015 | 35 years | |||||||||
RTS Berlin | Berlin | MD | — | — | 2,216 | — | — | 2,216 | 2,216 | 631 | 1,585 | 1994 | 2011 | 29 years | |||||||||
Charles O. Fisher Medical Building | Westminster | MD | 10,704 | — | 13,795 | 1,844 | — | 15,639 | 15,639 | 7,042 | 8,597 | 2009 | 2009 | 35 years | |||||||||
Medical Specialties Building | Kalamazoo | MI | — | — | 19,242 | 1,523 | — | 20,765 | 20,765 | 6,320 | 14,445 | 1989 | 2010 | 35 years | |||||||||
North Professional Building | Kalamazoo | MI | — | — | 7,228 | 1,652 | — | 8,880 | 8,880 | 3,441 | 5,439 | 1983 | 2010 | 35 years | |||||||||
Borgess Navigation Center | Kalamazoo | MI | — | — | 2,391 | — | — | 2,391 | 2,391 | 755 | 1,636 | 1976 | 2010 | 35 years | |||||||||
Borgess Health & Fitness Center | Kalamazoo | MI | — | — | 11,959 | 603 | — | 12,562 | 12,562 | 3,953 | 8,609 | 1984 | 2010 | 35 years | |||||||||
Heart Center Building | Kalamazoo | MI | — | — | 8,420 | 466 | 10 | 8,876 | 8,886 | 3,128 | 5,758 | 1980 | 2010 | 35 years | |||||||||
Medical Commons Building | Kalamazoo Township | MI | — | — | 661 | 651 | — | 1,312 | 1,312 | 571 | 741 | 1979 | 2010 | 35 years | |||||||||
RTS Madison Heights | Madison Heights | MI | — | 401 | 2,946 | — | 401 | 2,946 | 3,347 | 805 | 2,542 | 2002 | 2011 | 35 years | |||||||||
RTS Monroe | Monroe | MI | — | 281 | 3,450 | — | 281 | 3,450 | 3,731 | 1,058 | 2,673 | 1997 | 2011 | 31 years | |||||||||
Bronson Lakeview OPC | Paw Paw | MI | — | 3,835 | 31,564 | — | 3,835 | 31,564 | 35,399 | 4,873 | 30,526 | 2006 | 2015 | 35 years | |||||||||
Pro Med Center Plainwell | Plainwell | MI | — | — | 697 | 7 | — | 704 | 704 | 243 | 461 | 1991 | 2010 | 35 years | |||||||||
Pro Med Center Richland | Richland | MI | — | 233 | 2,267 | 77 | 233 | 2,344 | 2,577 | 729 | 1,848 | 1996 | 2010 | 35 years | |||||||||
Henry Ford Dialysis Center | Southfield | MI | — | 589 | 3,350 | — | 589 | 3,350 | 3,939 | 512 | 3,427 | 2002 | 2015 | 35 years | |||||||||
Metro Health | Wyoming | MI | — | 1,325 | 5,479 | — | 1,325 | 5,479 | 6,804 | 885 | 5,919 | 2008 | 2015 | 35 years | |||||||||
Spectrum Health | Wyoming | MI | — | 2,463 | 14,353 | — | 2,463 | 14,353 | 16,816 | 2,320 | 14,496 | 2006 | 2015 | 35 years | |||||||||
Cogdell Duluth MOB | Duluth | MN | — | — | 33,406 | (19 | ) | — | 33,387 | 33,387 | 6,116 | 27,271 | 2012 | 2012 | 35 years | ||||||||
Allina Health | Elk River | MN | — | 1,442 | 7,742 | 107 | 1,455 | 7,836 | 9,291 | 1,488 | 7,803 | 2002 | 2015 | 35 years | |||||||||
Unitron Hearing | Plymouth | MN | — | 2,646 | 8,962 | 5 | 2,646 | 8,967 | 11,613 | 2,029 | 9,584 | 2011 | 2015 | 29 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
HealthPartners Medical & Dental Clinics | Sartell | MN | — | 2,492 | 15,694 | 50 | 2,503 | 15,733 | 18,236 | 4,433 | 13,803 | 2010 | 2012 | 35 years | |||||||||
Arnold Urgent Care | Arnold | MO | — | 1,058 | 556 | 155 | 1,097 | 672 | 1,769 | 543 | 1,226 | 1999 | 2011 | 35 years | |||||||||
DePaul Health Center North | Bridgeton | MO | — | 996 | 10,045 | 2,520 | 996 | 12,565 | 13,561 | 5,341 | 8,220 | 1976 | 2012 | 21 years | |||||||||
DePaul Health Center South | Bridgeton | MO | — | 910 | 12,169 | 1,734 | 910 | 13,903 | 14,813 | 4,512 | 10,301 | 1992 | 2012 | 30 years | |||||||||
St. Mary's Health Center MOB D | Clayton | MO | — | 103 | 2,780 | 1,271 | 106 | 4,048 | 4,154 | 1,664 | 2,490 | 1984 | 2012 | 22 years | |||||||||
Fenton Urgent Care Center | Fenton | MO | — | 183 | 2,714 | 364 | 189 | 3,072 | 3,261 | 1,215 | 2,046 | 2003 | 2011 | 35 years | |||||||||
Broadway Medical Office Building | Kansas City | MO | — | 1,300 | 12,602 | 8,651 | 1,336 | 21,217 | 22,553 | 7,704 | 14,849 | 1976 | 2007 | 35 years | |||||||||
St. Joseph Medical Building | Kansas City | MO | — | 305 | 7,445 | 2,296 | 305 | 9,741 | 10,046 | 2,395 | 7,651 | 1988 | 2012 | 32 years | |||||||||
St. Joseph Medical Mall | Kansas City | MO | — | 530 | 9,115 | 613 | 530 | 9,728 | 10,258 | 2,747 | 7,511 | 1995 | 2012 | 33 years | |||||||||
Carondelet Medical Building | Kansas City | MO | — | 745 | 12,437 | 2,576 | 745 | 15,013 | 15,758 | 4,556 | 11,202 | 1979 | 2012 | 29 years | |||||||||
St. Joseph Hospital West Medical Office Building II | Lake Saint Louis | MO | — | 524 | 3,229 | 791 | 524 | 4,020 | 4,544 | 1,254 | 3,290 | 2005 | 2012 | 35 years | |||||||||
St. Joseph O'Fallon Medical Office Building | O'Fallon | MO | — | 940 | 5,556 | 119 | 960 | 5,655 | 6,615 | 1,593 | 5,022 | 1992 | 2012 | 35 years | |||||||||
Sisters of Mercy Building | Springfield | MO | — | 3,427 | 8,697 | — | 3,427 | 8,697 | 12,124 | 1,495 | 10,629 | 2008 | 2015 | 35 years | |||||||||
St. Joseph Health Center Medical Building 1 | St. Charles | MO | — | 503 | 4,336 | 1,205 | 503 | 5,541 | 6,044 | 2,456 | 3,588 | 1987 | 2012 | 20 years | |||||||||
St. Joseph Health Center Medical Building 2 | St. Charles | MO | — | 369 | 2,963 | 1,374 | 369 | 4,337 | 4,706 | 1,435 | 3,271 | 1999 | 2012 | 32 years | |||||||||
Physicians Office Center | St. Louis | MO | — | 1,445 | 13,825 | 869 | 1,445 | 14,694 | 16,139 | 5,820 | 10,319 | 2003 | 2011 | 35 years | |||||||||
12700 Southford Road Medical Plaza | St. Louis | MO | — | 595 | 12,584 | 2,769 | 595 | 15,353 | 15,948 | 5,367 | 10,581 | 1993 | 2011 | 32 years | |||||||||
St Anthony's MOB A | St. Louis | MO | — | 409 | 4,687 | 1,433 | 409 | 6,120 | 6,529 | 2,876 | 3,653 | 1975 | 2011 | 20 years | |||||||||
St Anthony's MOB B | St. Louis | MO | — | 350 | 3,942 | 1,010 | 350 | 4,952 | 5,302 | 2,476 | 2,826 | 1980 | 2011 | 21 years | |||||||||
Lemay Urgent Care Center | St. Louis | MO | — | 2,317 | 3,120 | 681 | 2,351 | 3,767 | 6,118 | 2,035 | 4,083 | 1983 | 2011 | 22 years | |||||||||
St. Mary's Health Center MOB B | St. Louis | MO | — | 119 | 4,161 | 12,540 | 119 | 16,701 | 16,820 | 2,445 | 14,375 | 1979 | 2012 | 23 years | |||||||||
St. Mary's Health Center MOB C | St. Louis | MO | — | 136 | 6,018 | 1,662 | 136 | 7,680 | 7,816 | 2,610 | 5,206 | 1969 | 2012 | 20 years | |||||||||
University Physicians - Grants Ferry | Flowood | MS | 8,529 | 2,796 | 12,125 | (12 | ) | 2,796 | 12,113 | 14,909 | 3,460 | 11,449 | 2010 | 2012 | 35 years | ||||||||
Randolph | Charlotte | NC | — | 6,370 | 2,929 | 2,243 | 6,418 | 5,124 | 11,542 | 3,884 | 7,658 | 1973 | 2012 | 4 years | |||||||||
Mallard Crossing I | Charlotte | NC | — | 3,229 | 2,072 | 681 | 3,269 | 2,713 | 5,982 | 1,947 | 4,035 | 1997 | 2012 | 25 years | |||||||||
Medical Arts Building | Concord | NC | — | 701 | 11,734 | 1,116 | 701 | 12,850 | 13,551 | 4,529 | 9,022 | 1997 | 2012 | 31 years | |||||||||
Gateway Medical Office Building | Concord | NC | — | 1,100 | 9,904 | 682 | 1,100 | 10,586 | 11,686 | 3,683 | 8,003 | 2005 | 2012 | 35 years | |||||||||
Copperfield Medical Mall | Concord | NC | — | 1,980 | 2,846 | 531 | 2,139 | 3,218 | 5,357 | 1,648 | 3,709 | 1989 | 2012 | 25 years | |||||||||
Weddington Internal & Pediatric Medicine | Concord | NC | — | 574 | 688 | 37 | 574 | 725 | 1,299 | 345 | 954 | 2000 | 2012 | 27 years | |||||||||
Rex Wellness Center | Garner | NC | — | 1,348 | 5,330 | 40 | 1,354 | 5,364 | 6,718 | 1,077 | 5,641 | 2003 | 2015 | 34 years | |||||||||
Gaston Professional Center | Gastonia | NC | — | 833 | 24,885 | 2,970 | 863 | 27,825 | 28,688 | 6,998 | 21,690 | 1997 | 2012 | 35 years | |||||||||
Harrisburg Family Physicians | Harrisburg | NC | — | 679 | 1,646 | 48 | 679 | 1,694 | 2,373 | 535 | 1,838 | 1996 | 2012 | 35 years | |||||||||
Harrisburg Medical Mall | Harrisburg | NC | — | 1,339 | 2,292 | 250 | 1,339 | 2,542 | 3,881 | 1,149 | 2,732 | 1997 | 2012 | 27 years | |||||||||
Northcross | Huntersville | NC | — | 623 | 278 | 106 | 623 | 384 | 1,007 | 257 | 750 | 1993 | 2012 | 22 years | |||||||||
REX Knightdale MOB & Wellness Center | Knightdale | NC | — | — | 22,823 | 780 | — | 23,603 | 23,603 | 4,469 | 19,134 | 2009 | 2012 | 35 years | |||||||||
Midland Medical Park | Midland | NC | — | 1,221 | 847 | 120 | 1,221 | 967 | 2,188 | 571 | 1,617 | 1998 | 2012 | 25 years | |||||||||
East Rocky Mount Kidney Center | Rocky Mount | NC | — | 803 | 998 | 1 | 803 | 999 | 1,802 | 418 | 1,384 | 2000 | 2012 | 33 years | |||||||||
Rocky Mount Kidney Center | Rocky Mount | NC | — | 479 | 1,297 | 51 | 479 | 1,348 | 1,827 | 576 | 1,251 | 1990 | 2012 | 25 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | |||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | |||||||||
Rocky Mount Medical Park | Rocky Mount | NC | — | 2,552 | 7,779 | 2,183 | 2,652 | 9,862 | 12,514 | 3,401 | 9,113 | 1991 | 2012 | 30 years | |||||||||
Rowan Outpatient Surgery Center | Salisbury | NC | — | 1,039 | 5,184 | (5 | ) | 1,039 | 5,179 | 6,218 | 1,554 | 4,664 | 2003 | 2012 | 35 years | ||||||||
Trinity Health Medical Arts Clinic | Minot | ND | — | 935 | 15,482 | 49 | 951 | 15,515 | 16,466 | 3,088 | 13,378 | 1995 | 2015 | 26 years | |||||||||
Cooper Health MOB I | Willingboro | NJ | — | 1,389 | 2,742 | (1 | ) | 1,398 | 2,732 | 4,130 | 556 | 3,574 | 2010 | 2015 | 35 years | ||||||||
Cooper Health MOB II | Willingboro | NJ | — | 594 | 5,638 | 15 | 594 | 5,653 | 6,247 | 813 | 5,434 | 2012 | 2015 | 35 years | |||||||||
Salem Medical | Woodstown | NJ | — | 275 | 4,132 | 3 | 275 | 4,135 | 4,410 | 591 | 3,819 | 2010 | 2015 | 35 years | |||||||||
Carson Tahoe Specialty Medical Center | Carson City | NV | — | 688 | 11,346 | 19,637 | 2,898 | 28,773 | 31,671 | 4,960 | 26,711 | 1981 | 2015 | 35 years | |||||||||
Carson Tahoe MOB West | Carson City | NV | — | 2,862 | 27,519 | (18,090 | ) | 703 | 11,588 | 12,291 | 1,806 | 10,485 | 2007 | 2015 | 29 years | ||||||||
Del E Webb Medical Plaza | Henderson | NV | — | 1,028 | 16,993 | 1,839 | 1,028 | 18,832 | 19,860 | 6,006 | 13,854 | 1999 | 2011 | 35 years | |||||||||
Durango Medical Plaza | Las Vegas | NV | — | 3,787 | 27,738 | (2,994 | ) | 3,683 | 24,848 | 28,531 | 3,806 | 24,725 | 2008 | 2015 | 35 years | ||||||||
The Terrace at South Meadows | Reno | NV | 6,561 | 504 | 9,966 | 632 | 504 | 10,598 | 11,102 | 3,617 | 7,485 | 2004 | 2011 | 35 years | |||||||||
Albany Medical Center MOB | Albany | NY | — | 321 | 18,389 | — | 321 | 18,389 | 18,710 | 2,262 | 16,448 | 2010 | 2015 | 35 years | |||||||||
St. Peter's Recovery Center | Guilderland | NY | — | 1,059 | 9,156 | — | 1,059 | 9,156 | 10,215 | 1,514 | 8,701 | 1990 | 2015 | 35 years | |||||||||
Central NY Medical Center | Syracuse | NY | — | 1,786 | 26,101 | 3,120 | 1,792 | 29,215 | 31,007 | 8,205 | 22,802 | 1997 | 2012 | 33 years | |||||||||
Northcountry MOB | Watertown | NY | — | 1,320 | 10,799 | 13 | 1,320 | 10,812 | 12,132 | 1,793 | 10,339 | 2001 | 2015 | 35 years | |||||||||
Anderson Medical Arts Building I | Cincinnati | OH | — | — | 9,632 | 2,071 | 20 | 11,683 | 11,703 | 5,033 | 6,670 | 1984 | 2007 | 35 years | |||||||||
Anderson Medical Arts Building II | Cincinnati | OH | — | — | 15,123 | 2,389 | — | 17,512 | 17,512 | 7,532 | 9,980 | 2007 | 2007 | 35 years | |||||||||
Riverside North Medical Office Building | Columbus | OH | — | 785 | 8,519 | 1,673 | 785 | 10,192 | 10,977 | 4,111 | 6,866 | 1962 | 2012 | 25 years | |||||||||
Riverside South Medical Office Building | Columbus | OH | — | 586 | 7,298 | 866 | 610 | 8,140 | 8,750 | 3,049 | 5,701 | 1985 | 2012 | 27 years | |||||||||
340 East Town Medical Office Building | Columbus | OH | — | 10 | 9,443 | 1,220 | 10 | 10,663 | 10,673 | 3,177 | 7,496 | 1984 | 2012 | 29 years | |||||||||
393 East Town Medical Office Building | Columbus | OH | — | 61 | 4,760 | 381 | 61 | 5,141 | 5,202 | 1,907 | 3,295 | 1970 | 2012 | 20 years | |||||||||
141 South Sixth Medical Office Building | Columbus | OH | — | 80 | 1,113 | 2,922 | 80 | 4,035 | 4,115 | 723 | 3,392 | 1971 | 2012 | 14 years | |||||||||
Doctors West Medical Office Building | Columbus | OH | — | 414 | 5,362 | 835 | 414 | 6,197 | 6,611 | 1,965 | 4,646 | 1998 | 2012 | 35 years | |||||||||
Eastside Health Center | Columbus | OH | — | 956 | 3,472 | (2 | ) | 956 | 3,470 | 4,426 | 1,936 | 2,490 | 1977 | 2012 | 15 years | ||||||||
East Main Medical Office Building | Columbus | OH | — | 440 | 4,771 | 58 | 440 | 4,829 | 5,269 | 1,484 | 3,785 | 2006 | 2012 | 35 years | |||||||||
Heart Center Medical Office Building | Columbus | OH | — | 1,063 | 12,140 | 441 | 1,063 | 12,581 | 13,644 | 3,920 | 9,724 | 2004 | 2012 | 35 years | |||||||||
Wilkins Medical Office Building | Columbus | OH | — | 123 | 18,062 | 363 | 123 | 18,425 | 18,548 | 4,522 | 14,026 | 2002 | 2012 | 35 years | |||||||||
Grady Medical Office Building | Delaware | OH | — | 239 | 2,263 | 450 | 239 | 2,713 | 2,952 | 1,092 | 1,860 | 1991 | 2012 | 25 years | |||||||||
Dublin Northwest Medical Office Building | Dublin | OH | — | 342 | 3,278 | 253 | 342 | 3,531 | 3,873 | 1,282 | 2,591 | 2001 | 2012 | 34 years | |||||||||
Preserve III Medical Office Building | Dublin | OH | — | 2,449 | 7,025 | 1,211 | 2,449 | 8,236 | 10,685 | 2,206 | 8,479 | 2006 | 2012 | 35 years | |||||||||
Zanesville Surgery Center | Zanesville | OH | — | 172 | 9,403 | — | 172 | 9,403 | 9,575 | 2,441 | 7,134 | 2000 | 2011 | 35 years | |||||||||
Dialysis Center | Zanesville | OH | — | 534 | 855 | 85 | 534 | 940 | 1,474 | 606 | 868 | 1960 | 2011 | 21 years | |||||||||
Genesis Children's Center | Zanesville | OH | — | 538 | 3,781 | — | 538 | 3,781 | 4,319 | 1,355 | 2,964 | 2006 | 2011 | 30 years | |||||||||
Medical Arts Building I | Zanesville | OH | — | 429 | 2,405 | 556 | 436 | 2,954 | 3,390 | 1,408 | 1,982 | 1970 | 2011 | 20 years | |||||||||
Medical Arts Building II | Zanesville | OH | — | 485 | 6,013 | 1,248 | 532 | 7,214 | 7,746 | 3,153 | 4,593 | 1995 | 2011 | 25 years | |||||||||
Medical Arts Building III | Zanesville | OH | — | 94 | 1,248 | — | 94 | 1,248 | 1,342 | 566 | 776 | 1970 | 2011 | 25 years | |||||||||
Primecare Building | Zanesville | OH | — | 130 | 1,344 | 648 | 130 | 1,992 | 2,122 | 922 | 1,200 | 1978 | 2011 | 20 years | |||||||||
Outpatient Rehabilitation Building | Zanesville | OH | — | 82 | 1,541 | — | 82 | 1,541 | 1,623 | 595 | 1,028 | 1985 | 2011 | 28 years | |||||||||
Radiation Oncology Building | Zanesville | OH | — | 105 | 1,201 | — | 105 | 1,201 | 1,306 | 551 | 755 | 1988 | 2011 | 25 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
Healthplex | Zanesville | OH | — | 2,488 | 15,849 | 1,193 | 2,649 | 16,881 | 19,530 | 6,055 | 13,475 | 1990 | 2011 | 32 years | ||||||||||||||||||
Physicians Pavilion | Zanesville | OH | — | 422 | 6,297 | 1,524 | 422 | 7,821 | 8,243 | 3,206 | 5,037 | 1990 | 2011 | 25 years | ||||||||||||||||||
Zanesville Northside Pharmacy | Zanesville | OH | — | 42 | 635 | — | 42 | 635 | 677 | 254 | 423 | 1985 | 2011 | 28 years | ||||||||||||||||||
Bethesda Campus MOB III | Zanesville | OH | — | 188 | 1,137 | 156 | 199 | 1,282 | 1,481 | 561 | 920 | 1978 | 2011 | 25 years | ||||||||||||||||||
Tuality 7th Avenue Medical Plaza | Hillsboro | OR | 17,900 | 1,516 | 24,638 | 1,546 | 1,533 | 26,167 | 27,700 | 7,747 | 19,953 | 2003 | 2011 | 35 years | ||||||||||||||||||
Professional Office Building I | Chester | PA | — | — | 6,283 | 2,638 | — | 8,921 | 8,921 | 4,610 | 4,311 | 1978 | 2004 | 30 years | ||||||||||||||||||
DCMH Medical Office Building | Drexel Hill | PA | — | — | 10,424 | 1,833 | — | 12,257 | 12,257 | 6,654 | 5,603 | 1984 | 2004 | 30 years | ||||||||||||||||||
Pinnacle Health | Harrisburg | PA | — | 2,574 | 16,767 | 698 | 2,674 | 17,365 | 20,039 | 2,776 | 17,263 | 2002 | 2015 | 35 years | ||||||||||||||||||
Lancaster Rehabilitation Hospital | Lancaster | PA | — | 959 | 16,610 | (16 | ) | 959 | 16,594 | 17,553 | 4,478 | 13,075 | 2007 | 2012 | 35 years | |||||||||||||||||
Lancaster ASC MOB | Lancaster | PA | — | 593 | 17,117 | 429 | 593 | 17,546 | 18,139 | 5,242 | 12,897 | 2007 | 2012 | 35 years | ||||||||||||||||||
St. Joseph Medical Office Building | Reading | PA | — | — | 10,823 | 811 | — | 11,634 | 11,634 | 4,012 | 7,622 | 2006 | 2010 | 35 years | ||||||||||||||||||
Crozer - Keystone MOB I | Springfield | PA | — | 9,130 | 47,078 | — | 9,130 | 47,078 | 56,208 | 8,405 | 47,803 | 1996 | 2015 | 35 years | ||||||||||||||||||
Crozer-Keystone MOB II | Springfield | PA | — | 5,178 | 6,523 | — | 5,178 | 6,523 | 11,701 | 1,239 | 10,462 | 1998 | 2015 | 25 years | ||||||||||||||||||
Doylestown Health & Wellness Center | Warrington | PA | — | 4,452 | 17,383 | 1,101 | 4,497 | 18,439 | 22,936 | 5,532 | 17,404 | 2001 | 2012 | 34 years | ||||||||||||||||||
Roper Medical Office Building | Charleston | SC | 7,629 | 127 | 14,737 | 3,842 | 127 | 18,579 | 18,706 | 5,978 | 12,728 | 1990 | 2012 | 28 years | ||||||||||||||||||
St. Francis Medical Plaza (Charleston) | Charleston | SC | — | 447 | 3,946 | 634 | 447 | 4,580 | 5,027 | 1,617 | 3,410 | 2003 | 2012 | 35 years | ||||||||||||||||||
Providence MOB I | Columbia | SC | — | 225 | 4,274 | 884 | 225 | 5,158 | 5,383 | 2,480 | 2,903 | 1979 | 2012 | 18 years | ||||||||||||||||||
Providence MOB II | Columbia | SC | — | 122 | 1,834 | 256 | 150 | 2,062 | 2,212 | 972 | 1,240 | 1985 | 2012 | 18 years | ||||||||||||||||||
Providence MOB III | Columbia | SC | — | 766 | 4,406 | 848 | 766 | 5,254 | 6,020 | 1,896 | 4,124 | 1990 | 2012 | 23 years | ||||||||||||||||||
One Medical Park | Columbia | SC | — | 210 | 7,939 | 1,852 | 214 | 9,787 | 10,001 | 3,949 | 6,052 | 1984 | 2012 | 19 years | ||||||||||||||||||
Three Medical Park | Columbia | SC | — | 40 | 10,650 | 1,688 | 40 | 12,338 | 12,378 | 4,508 | 7,870 | 1988 | 2012 | 25 years | ||||||||||||||||||
St. Francis Millennium Medical Office Building | Greenville | SC | 14,442 | — | 13,062 | 10,692 | 30 | 23,724 | 23,754 | 11,046 | 12,708 | 2009 | 2009 | 35 years | ||||||||||||||||||
200 Andrews | Greenville | SC | — | 789 | 2,014 | 1,436 | 810 | 3,429 | 4,239 | 1,430 | 2,809 | 1994 | 2012 | 29 years | ||||||||||||||||||
St. Francis CMOB | Greenville | SC | — | 501 | 7,661 | 1,001 | 501 | 8,662 | 9,163 | 2,449 | 6,714 | 2001 | 2012 | 35 years | ||||||||||||||||||
St. Francis Outpatient Surgery Center | Greenville | SC | — | 1,007 | 16,538 | 913 | 1,007 | 17,451 | 18,458 | 5,333 | 13,125 | 2001 | 2012 | 35 years | ||||||||||||||||||
St. Francis Professional Medical Center | Greenville | SC | — | 342 | 6,337 | 1,376 | 371 | 7,684 | 8,055 | 2,758 | 5,297 | 1984 | 2012 | 24 years | ||||||||||||||||||
St. Francis Women's | Greenville | SC | — | 322 | 4,877 | 708 | 322 | 5,585 | 5,907 | 2,543 | 3,364 | 1991 | 2012 | 24 years | ||||||||||||||||||
St. Francis Medical Plaza (Greenville) | Greenville | SC | — | 88 | 5,876 | 1,086 | 98 | 6,952 | 7,050 | 2,402 | 4,648 | 1998 | 2012 | 24 years | ||||||||||||||||||
Irmo Professional MOB | Irmo | SC | — | 1,726 | 5,414 | 292 | 1,726 | 5,706 | 7,432 | 2,246 | 5,186 | 2004 | 2011 | 35 years | ||||||||||||||||||
River Hills Medical Plaza | Little River | SC | — | 1,406 | 1,813 | 195 | 1,406 | 2,008 | 3,414 | 877 | 2,537 | 1999 | 2012 | 27 years | ||||||||||||||||||
Mount Pleasant Medical Office Longpoint | Mount Pleasant | SC | — | 670 | 4,455 | 881 | 632 | 5,374 | 6,006 | 2,160 | 3,846 | 2001 | 2012 | 34 years | ||||||||||||||||||
Medical Arts Center of Orangeburg | Orangeburg | SC | — | 823 | 3,299 | 370 | 823 | 3,669 | 4,492 | 1,319 | 3,173 | 1984 | 2012 | 28 years | ||||||||||||||||||
Mary Black Westside Medical Office Bldg | Spartanburg | SC | — | 291 | 5,057 | 594 | 300 | 5,642 | 5,942 | 1,885 | 4,057 | 1991 | 2012 | 31 years | ||||||||||||||||||
Spartanburg ASC | Spartanburg | SC | — | 1,333 | 15,756 | — | 1,333 | 15,756 | 17,089 | 2,042 | 15,047 | 2002 | 2015 | 35 years | ||||||||||||||||||
Spartanburg Regional MOB | Spartanburg | SC | — | 207 | 17,963 | 727 | 286 | 18,611 | 18,897 | 2,666 | 16,231 | 1986 | 2015 | 35 years | ||||||||||||||||||
Wellmont Blue Ridge MOB | Bristol | TN | — | 999 | 5,027 | 110 | 1,032 | 5,104 | 6,136 | 845 | 5,291 | 2001 | 2015 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
Health Park Medical Office Building | Chattanooga | TN | 5,774 | 2,305 | 8,949 | 199 | 2,305 | 9,148 | 11,453 | 2,711 | 8,742 | 2004 | 2012 | 35 years | ||||||||||||||||||
Peerless Crossing Medical Center | Cleveland | TN | — | 1,217 | 6,464 | 8 | 1,217 | 6,472 | 7,689 | 1,853 | 5,836 | 2006 | 2012 | 35 years | ||||||||||||||||||
St. Mary's Clinton Professional Office Building | Clinton | TN | — | 298 | 618 | 56 | 298 | 674 | 972 | 208 | 764 | 1988 | 2015 | 39 years | ||||||||||||||||||
St. Mary's Farragut MOB | Farragut | TN | — | 221 | 2,719 | 156 | 221 | 2,875 | 3,096 | 523 | 2,573 | 1997 | 2015 | 39 years | ||||||||||||||||||
Medical Center Physicians Tower | Jackson | TN | 13,025 | 549 | 27,074 | 67 | 598 | 27,092 | 27,690 | 7,922 | 19,768 | 2010 | 2012 | 35 years | ||||||||||||||||||
St. Mary's Physician Professional Office Building | Knoxville | TN | — | 138 | 3,144 | 139 | 138 | 3,283 | 3,421 | 774 | 2,647 | 1981 | 2015 | 39 years | ||||||||||||||||||
St. Mary's Magdalene Clarke Tower | Knoxville | TN | — | 69 | 4,153 | 11 | 69 | 4,164 | 4,233 | 830 | 3,403 | 1972 | 2015 | 39 years | ||||||||||||||||||
St. Mary's Medical Office Building | Knoxville | TN | — | 136 | 359 | 31 | 136 | 390 | 526 | 188 | 338 | 1976 | 2015 | 39 years | ||||||||||||||||||
St. Mary's Ambulatory Surgery Center | Knoxville | TN | — | 129 | 1,012 | — | 129 | 1,012 | 1,141 | 323 | 818 | 1999 | 2015 | 24 years | ||||||||||||||||||
Texas Clinic at Arlington | Arlington | TX | — | 2,781 | 24,515 | 295 | 2,806 | 24,785 | 27,591 | 3,500 | 24,091 | 2010 | 2015 | 35 years | ||||||||||||||||||
Seton Medical Park Tower | Austin | TX | — | 805 | 41,527 | 3,432 | 1,329 | 44,435 | 45,764 | 10,506 | 35,258 | 1968 | 2012 | 35 years | ||||||||||||||||||
Seton Northwest Health Plaza | Austin | TX | — | 444 | 22,632 | 3,091 | 444 | 25,723 | 26,167 | 6,178 | 19,989 | 1988 | 2012 | 35 years | ||||||||||||||||||
Seton Southwest Health Plaza | Austin | TX | — | 294 | 5,311 | 341 | 294 | 5,652 | 5,946 | 1,341 | 4,605 | 2004 | 2012 | 35 years | ||||||||||||||||||
Seton Southwest Health Plaza II | Austin | TX | — | 447 | 10,154 | 71 | 447 | 10,225 | 10,672 | 2,521 | 8,151 | 2009 | 2012 | 35 years | ||||||||||||||||||
BioLife Sciences Building | Denton | TX | — | 1,036 | 6,576 | — | 1,036 | 6,576 | 7,612 | 1,097 | 6,515 | 2010 | 2015 | 35 years | ||||||||||||||||||
East Houston MOB, LLC | Houston | TX | — | 356 | 2,877 | 891 | 328 | 3,796 | 4,124 | 2,446 | 1,678 | 1982 | 2011 | 15 years | ||||||||||||||||||
East Houston Medical Plaza | Houston | TX | — | 671 | 426 | 10 | 237 | 870 | 1,107 | 922 | 185 | 1982 | 2011 | 11 years | ||||||||||||||||||
Memorial Hermann | Houston | TX | — | 822 | 14,307 | — | 822 | 14,307 | 15,129 | 1,948 | 13,181 | 2012 | 2015 | 35 years | ||||||||||||||||||
Scott & White Healthcare | Kingsland | TX | — | 534 | 5,104 | — | 534 | 5,104 | 5,638 | 796 | 4,842 | 2012 | 2015 | 35 years | ||||||||||||||||||
Lakeway Medical Plaza | Lakeway | TX | 9,362 | 270 | 20,169 | — | 270 | 20,169 | 20,439 | 109 | 20,330 | 2011 | 2018 | 35 years | ||||||||||||||||||
Odessa Regional MOB | Odessa | TX | — | 121 | 8,935 | — | 121 | 8,935 | 9,056 | 1,265 | 7,791 | 2008 | 2015 | 35 years | ||||||||||||||||||
Legacy Heart Center | Plano | TX | — | 3,081 | 8,890 | 33 | 3,081 | 8,923 | 12,004 | 1,547 | 10,457 | 2005 | 2015 | 35 years | ||||||||||||||||||
Seton Williamson Medical Plaza | Round Rock | TX | — | — | 15,074 | 672 | — | 15,746 | 15,746 | 5,357 | 10,389 | 2008 | 2010 | 35 years | ||||||||||||||||||
Sunnyvale Medical Plaza | Sunnyvale | TX | — | 1,186 | 15,397 | 423 | 1,240 | 15,766 | 17,006 | 2,471 | 14,535 | 2009 | 2015 | 35 years | ||||||||||||||||||
Texarkana ASC | Texarkana | TX | — | 814 | 5,903 | 98 | 814 | 6,001 | 6,815 | 1,066 | 5,749 | 1994 | 2015 | 30 years | ||||||||||||||||||
Spring Creek Medical Plaza | Tomball | TX | — | 2,165 | 8,212 | 69 | 2,165 | 8,281 | 10,446 | 1,183 | 9,263 | 2006 | 2015 | 35 years | ||||||||||||||||||
MRMC MOB I | Mechanicsville | VA | — | 1,669 | 7,024 | 603 | 1,669 | 7,627 | 9,296 | 3,084 | 6,212 | 1993 | 2012 | 31 years | ||||||||||||||||||
Henrico MOB | Richmond | VA | — | 968 | 6,189 | 811 | 359 | 7,609 | 7,968 | 3,120 | 4,848 | 1976 | 2011 | 25 years | ||||||||||||||||||
St. Mary's MOB North (Floors 6 & 7) | Richmond | VA | — | 227 | 2,961 | 643 | 227 | 3,604 | 3,831 | 1,487 | 2,344 | 1968 | 2012 | 22 years | ||||||||||||||||||
Virginia Urology Center | Richmond | VA | — | 3,822 | 16,127 | 15 | 3,822 | 16,142 | 19,964 | 2,504 | 17,460 | 2004 | 2015 | 35 years | ||||||||||||||||||
St. Francis Cancer Center | Richmond | VA | — | 654 | 18,331 | 518 | 657 | 18,846 | 19,503 | 2,587 | 16,916 | 2006 | 2015 | 35 years | ||||||||||||||||||
Bonney Lake Medical Office Building | Bonney Lake | WA | 10,474 | 5,176 | 14,375 | 172 | 5,176 | 14,547 | 19,723 | 4,474 | 15,249 | 2011 | 2012 | 35 years | ||||||||||||||||||
Good Samaritan Medical Office Building | Puyallup | WA | 12,775 | 781 | 30,368 | 692 | 801 | 31,040 | 31,841 | 7,905 | 23,936 | 2011 | 2012 | 35 years | ||||||||||||||||||
Holy Family Hospital Central MOB | Spokane | WA | — | — | 19,085 | 331 | — | 19,416 | 19,416 | 3,787 | 15,629 | 2007 | 2012 | 35 years | ||||||||||||||||||
Physician's Pavilion | Vancouver | WA | — | 1,411 | 32,939 | 1,019 | 1,450 | 33,919 | 35,369 | 9,827 | 25,542 | 2001 | 2011 | 35 years | ||||||||||||||||||
Administration Building | Vancouver | WA | — | 296 | 7,856 | 30 | 317 | 7,865 | 8,182 | 2,259 | 5,923 | 1972 | 2011 | 35 years | ||||||||||||||||||
Medical Center Physician's Building | Vancouver | WA | — | 1,225 | 31,246 | 3,168 | 1,404 | 34,235 | 35,639 | 9,628 | 26,011 | 1980 | 2011 | 35 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
Memorial MOB | Vancouver | WA | — | 663 | 12,626 | 759 | 690 | 13,358 | 14,048 | 3,856 | 10,192 | 1999 | 2011 | 35 years | ||||||||||||||||||
Salmon Creek MOB | Vancouver | WA | — | 1,325 | 9,238 | 87 | 1,325 | 9,325 | 10,650 | 2,627 | 8,023 | 1994 | 2011 | 35 years | ||||||||||||||||||
Fisher's Landing MOB | Vancouver | WA | — | 1,590 | 5,420 | 59 | 1,613 | 5,456 | 7,069 | 1,850 | 5,219 | 1995 | 2011 | 34 years | ||||||||||||||||||
Columbia Medical Plaza Vancouver | Vancouver | WA | — | 281 | 5,266 | 352 | 331 | 5,568 | 5,899 | 1,706 | 4,193 | 1991 | 2011 | 35 years | ||||||||||||||||||
Appleton Heart Institute | Appleton | WI | — | — | 7,775 | 41 | — | 7,816 | 7,816 | 2,332 | 5,484 | 2003 | 2010 | 39 years | ||||||||||||||||||
Appleton Medical Offices West | Appleton | WI | — | — | 5,756 | 384 | — | 6,140 | 6,140 | 1,762 | 4,378 | 1989 | 2010 | 39 years | ||||||||||||||||||
Appleton Medical Offices South | Appleton | WI | — | — | 9,058 | 194 | — | 9,252 | 9,252 | 2,948 | 6,304 | 1983 | 2010 | 39 years | ||||||||||||||||||
Brookfield Clinic | Brookfield | WI | — | 2,638 | 4,093 | (2,198 | ) | 440 | 4,093 | 4,533 | 1,494 | 3,039 | 1999 | 2011 | 35 years | |||||||||||||||||
Lakeshore Medical Clinic - Franklin | Franklin | WI | — | 1,973 | 7,579 | 148 | 2,029 | 7,671 | 9,700 | 1,264 | 8,436 | 2008 | 2015 | 34 years | ||||||||||||||||||
Lakeshore Medical Clinic - Greenfield | Greenfield | WI | — | 1,223 | 13,387 | 36 | 1,223 | 13,423 | 14,646 | 1,844 | 12,802 | 2010 | 2015 | 35 years | ||||||||||||||||||
Aurora Health Care - Hartford | Hartford | WI | — | 3,706 | 22,019 | — | 3,706 | 22,019 | 25,725 | 3,419 | 22,306 | 2006 | 2015 | 35 years | ||||||||||||||||||
Hartland Clinic | Hartland | WI | — | 321 | 5,050 | — | 321 | 5,050 | 5,371 | 1,570 | 3,801 | 1994 | 2011 | 35 years | ||||||||||||||||||
Aurora Healthcare - Kenosha | Kenosha | WI | — | 7,546 | 19,155 | — | 7,546 | 19,155 | 26,701 | 3,039 | 23,662 | 2014 | 2015 | 35 years | ||||||||||||||||||
Univ of Wisconsin Health | Monona | WI | — | 678 | 8,017 | — | 678 | 8,017 | 8,695 | 1,357 | 7,338 | 2011 | 2015 | 35 years | ||||||||||||||||||
Theda Clark Medical Center Office Pavilion | Neenah | WI | — | — | 7,080 | 1,027 | — | 8,107 | 8,107 | 2,289 | 5,818 | 1993 | 2010 | 39 years | ||||||||||||||||||
Aylward Medical Building Condo Floors 3 & 4 | Neenah | WI | — | — | 4,462 | 98 | — | 4,560 | 4,560 | 1,463 | 3,097 | 2006 | 2010 | 39 years | ||||||||||||||||||
Aurora Health Care - Neenah | Neenah | WI | — | 2,033 | 9,072 | — | 2,033 | 9,072 | 11,105 | 1,512 | 9,593 | 2006 | 2015 | 35 years | ||||||||||||||||||
New Berlin Clinic | New Berlin | WI | — | 678 | 7,121 | — | 678 | 7,121 | 7,799 | 2,380 | 5,419 | 1999 | 2011 | 35 years | ||||||||||||||||||
United Healthcare - Onalaska | Onalaska | WI | — | 4,623 | 5,527 | — | 4,623 | 5,527 | 10,150 | 1,196 | 8,954 | 1995 | 2015 | 35 years | ||||||||||||||||||
WestWood Health & Fitness | Pewaukee | WI | — | 823 | 11,649 | — | 823 | 11,649 | 12,472 | 3,927 | 8,545 | 1997 | 2011 | 35 years | ||||||||||||||||||
Aurora Health Care - Two Rivers | Two Rivers | WI | — | 5,638 | 25,308 | — | 5,638 | 25,308 | 30,946 | 3,961 | 26,985 | 2006 | 2015 | 35 years | ||||||||||||||||||
Watertown Clinic | Watertown | WI | — | 166 | 3,234 | — | 166 | 3,234 | 3,400 | 970 | 2,430 | 2003 | 2011 | 35 years | ||||||||||||||||||
Southside Clinic | Waukesha | WI | — | 218 | 5,273 | — | 218 | 5,273 | 5,491 | 1,603 | 3,888 | 1997 | 2011 | 35 years | ||||||||||||||||||
Rehabilitation Hospital | Waukesha | WI | — | 372 | 15,636 | — | 372 | 15,636 | 16,008 | 4,163 | 11,845 | 2008 | 2011 | 35 years | ||||||||||||||||||
United Healthcare - Wauwatosa | Wawatosa | WI | — | 8,012 | 15,992 | — | 8,012 | 15,992 | 24,004 | 3,067 | 20,937 | 1995 | 2015 | 35 years | ||||||||||||||||||
TOTAL FOR MEDICAL OFFICE BUILDINGS | 386,382 | 385,196 | 4,171,824 | 286,940 | 379,635 | 4,464,325 | 4,843,960 | 1,123,736 | 3,720,224 | |||||||||||||||||||||||
RESEARCH AND INNOVATION CENTERS | ||||||||||||||||||||||||||||||||
Phoenix Biomedical Campus Phase I | Phoenix | AZ | — | — | 4,139 | — | — | 4,139 | 4,139 | — | 4,139 | CIP | CIP | CIP | ||||||||||||||||||
100 College Street | New Haven | CT | — | 2,706 | 186,570 | 5,985 | 2,706 | 192,555 | 195,261 | 9,295 | 185,966 | 2013 | 2016 | 59 years | ||||||||||||||||||
300 George Street | New Haven | CT | — | 2,262 | 122,144 | 4,286 | 2,262 | 126,430 | 128,692 | 6,650 | 122,042 | 2014 | 2016 | 50 years | ||||||||||||||||||
Univ. of Miami Life Science and Technology Park | Miami | FL | — | 2,249 | 87,019 | 5,186 | 2,253 | 92,201 | 94,454 | 5,875 | 88,579 | 2014 | 2016 | 53 years | ||||||||||||||||||
IIT | Chicago | IL | — | 30 | 55,620 | 279 | 30 | 55,899 | 55,929 | 3,115 | 52,814 | 2006 | 2016 | 46 years | ||||||||||||||||||
University of Maryland BioPark I Unit 1 | Baltimore | MD | — | 113 | 25,199 | 789 | 113 | 25,988 | 26,101 | 1,416 | 24,685 | 2005 | 2016 | 50 years | ||||||||||||||||||
University of Maryland BioPark II | Baltimore | MD | — | 61 | 91,764 | 3,278 | 61 | 95,042 | 95,103 | 5,779 | 89,324 | 2007 | 2016 | 50 years | ||||||||||||||||||
University of Maryland BioPark Garage | Baltimore | MD | — | 77 | 4,677 | 344 | 77 | 5,021 | 5,098 | 465 | 4,633 | 2007 | 2016 | 29 years |
Location | Initial Cost to Company | Gross Amount Carried at Close of Period | ||||||||||||||||||||||||||||||
Property Name | City | State / Province | Encumbrances | Land and Improvements | Buildings and Improvements | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Buildings and Improvements | Total | Accumulated Depreciation | NBV | Year of Construction | Year Acquired | Life on Which Depreciation in Income Statement is Computed | ||||||||||||||||||
Tributary Street | Baltimore | MD | — | 4,015 | 15,905 | 597 | 4,015 | 16,502 | 20,517 | 1,347 | 19,170 | 1998 | 2016 | 45 years | ||||||||||||||||||
Beckley Street | Baltimore | MD | — | 2,813 | 13,481 | 558 | 2,813 | 14,039 | 16,852 | 1,181 | 15,671 | 1999 | 2016 | 45 years | ||||||||||||||||||
University of Maryland BioPark III | Baltimore | MD | — | 980 | — | — | 980 | — | 980 | — | 980 | CIP | CIP | CIP | ||||||||||||||||||
Heritage at 4240 | Saint Louis | MO | — | 403 | 47,125 | 158 | 452 | 47,234 | 47,686 | 3,511 | 44,175 | 2013 | 2016 | 45 years | ||||||||||||||||||
Cortex 1 | Saint Louis | MO | — | 631 | 26,543 | 1,111 | 631 | 27,654 | 28,285 | 2,425 | 25,860 | 2005 | 2016 | 50 years | ||||||||||||||||||
BRDG Park | Saint Louis | MO | — | 606 | 37,083 | 2,112 | 606 | 39,195 | 39,801 | 2,206 | 37,595 | 2009 | 2016 | 52 years | ||||||||||||||||||
4220 Duncan Avenue | St Louis | MO | — | 1,871 | 35,044 | — | 1,871 | 35,044 | 36,915 | 859 | 36,056 | 2018 | 2018 | 35 years | ||||||||||||||||||
311 South Sarah Street | St. Louis | MO | — | 5,148 | — | — | 5,148 | — | 5,148 | 88 | 5,060 | CIP | CIP | CIP | ||||||||||||||||||
4300 Duncan | St. Louis | MO | — | 2,818 | 46,749 | 18 | 2,818 | 46,767 | 49,585 | 1,697 | 47,888 | 2008 | 2017 | 35 years | ||||||||||||||||||
Weston Parkway | Cary | NC | — | 1,372 | 6,535 | 1,710 | 1,372 | 8,245 | 9,617 | 678 | 8,939 | 1990 | 2016 | 50 years | ||||||||||||||||||
Patriot Drive | Durham | NC | — | 1,960 | 10,749 | 372 | 1,960 | 11,121 | 13,081 | 769 | 12,312 | 2010 | 2016 | 50 years | ||||||||||||||||||
Chesterfield | Durham | NC | 2,215 | 3,594 | 57,781 | 4,094 | 3,594 | 61,875 | 65,469 | 5,517 | 59,952 | 2017 | 2017 | 60 years | ||||||||||||||||||
Paramount Parkway | Morrisville | NC | — | 1,016 | 19,794 | 617 | 1,016 | 20,411 | 21,427 | 1,521 | 19,906 | 1999 | 2016 | 45 years | ||||||||||||||||||
Wake 90 | Winston-Salem | NC | — | 2,752 | 79,949 | 266 | 2,752 | 80,215 | 82,967 | 5,603 | 77,364 | 2013 | 2016 | 40 years | ||||||||||||||||||
Wake 91 | Winston-Salem | NC | — | 1,729 | 73,690 | 19 | 1,729 | 73,709 | 75,438 | 4,191 | 71,247 | 2011 | 2016 | 50 years | ||||||||||||||||||
Wake 60 | Winston-Salem | NC | (76,614 | ) | 1,243 | 83,414 | 1,370 | 1,243 | 84,784 | 86,027 | 6,250 | 79,777 | 2016 | 2016 | 35 years | |||||||||||||||||
Bailey Power Plant | Winston-Salem | NC | — | 1,930 | 34,122 | 967 | 1,096 | 35,923 | 37,019 | 1,600 | 35,419 | 2017 | 2017 | 35 years | ||||||||||||||||||
Hershey Center Unit 1 | Hummelstown | PA | — | 813 | 23,699 | 851 | 813 | 24,550 | 25,363 | 1,557 | 23,806 | 2007 | 2016 | 50 years | ||||||||||||||||||
3737 Market Street | Philadelphia | PA | 69,713 | 40 | 141,981 | 6,093 | 40 | 148,074 | 148,114 | 6,939 | 141,175 | 2014 | 2016 | 54 years | ||||||||||||||||||
3711 Market Street | Philadelphia | PA | — | 12,320 | 69,278 | 3,655 | 12,320 | 72,933 | 85,253 | 4,138 | 81,115 | 2008 | 2016 | 48 years | ||||||||||||||||||
3750 Lancaster Avenue | Philadelphia | PA | — | — | 583 | — | — | 583 | 583 | — | 583 | CIP | CIP | CIP | ||||||||||||||||||
3675 Market Street | Philadelphia | PA | — | 11,370 | 109,846 | — | 11,370 | 109,846 | 121,216 | 501 | 120,715 | 2018 | 2018 | 35 years | ||||||||||||||||||
3701 Filbert Street | Philadelphia | PA | — | — | 1,477 | — | — | 1,477 | 1,477 | — | 1,477 | CIP | CIP | CIP | ||||||||||||||||||
115 North 38th Street | Philadelphia | PA | — | — | 839 | — | — | 839 | 839 | — | 839 | CIP | CIP | CIP | ||||||||||||||||||
225 North 38th Street | Philadelphia | PA | — | — | 3,621 | — | — | 3,621 | 3,621 | — | 3,621 | CIP | CIP | CIP | ||||||||||||||||||
3401 Market Street | Philadelphia | PA | — | 4,500 | 22,157 | — | 4,500 | 22,157 | 26,657 | 62 | 26,595 | 1923 | 2018 | 35 years | ||||||||||||||||||
South Street Landing | Providence | RI | 89,399 | 6,358 | 112,784 | (835 | ) | 6,358 | 111,949 | 118,307 | 2,728 | 115,579 | 2017 | 2017 | 45 years | |||||||||||||||||
2/3 Davol Square | Providence | RI | — | 4,537 | 6,886 | 387 | 4,537 | 7,273 | 11,810 | 1,306 | 10,504 | 2005 | 2017 | 15 years | ||||||||||||||||||
One Ship Street | Providence | RI | — | 1,943 | 1,734 | (29 | ) | 1,943 | 1,705 | 3,648 | 128 | 3,520 | 1980 | 2017 | 25 years | |||||||||||||||||
Brown Academic/R&D Building | Providence | RI | — | — | 52,867 | — | — | 52,867 | 52,867 | — | 52,867 | CIP | CIP | CIP | ||||||||||||||||||
Providence Phase 2 | Providence | RI | — | 2,251 | — | — | 2,251 | — | 2,251 | — | 2,251 | CIP | CIP | CIP | ||||||||||||||||||
IRP I | Norfolk | VA | — | 60 | 20,084 | 769 | 60 | 20,853 | 20,913 | 1,253 | 19,660 | 2007 | 2016 | 55 years | ||||||||||||||||||
IRP II | Norfolk | VA | — | 69 | 21,255 | 802 | 69 | 22,057 | 22,126 | 1,250 | 20,876 | 2007 | 2016 | 55 years | ||||||||||||||||||
Wexford Biotech 8 | Richmond | VA | — | 2,615 | 85,514 | 684 | 2,615 | 86,198 | 88,813 | 3,323 | 85,490 | 2012 | 2017 | 35 years | ||||||||||||||||||
TOTAL RESEARCH AND INNOVATION CENTERS | 84,713 | 89,255 | 1,839,701 | 46,493 | 88,474 | 1,886,975 | 1,975,449 | 95,223 | 1,880,226 | |||||||||||||||||||||||
TOTAL OFFICE BUILDINGS | 471,095 | 474,451 | 6,011,525 | 333,433 | 468,109 | 6,351,300 | 6,819,409 | 1,218,959 | 5,600,450 | |||||||||||||||||||||||
TOTAL FOR ALL PROPERTIES | $ | 1,127,698 | $ | 2,121,219 | $ | 21,808,315 | $ | 1,044,449 | $ | 2,114,406 | $ | 22,859,577 | $ | 24,973,983 | $ | 5,492,310 | $ | 19,481,673 |
Location | Number of RE Assets | Interest Rate | Fixed / Variable | Maturity Date | Monthly Debt Service | Face Value | Net Book Value | Prior Liens | ||||||||||
(In thousands) | ||||||||||||||||||
First Mortgages | ||||||||||||||||||
Multiple | 3 | 9.97% | V | 6/30/2019 | $ | 140 | $ | 5,850 | $ | 5,850 | $ | — | ||||||
Ohio | 5 | 8.62% | V | 10/1/2021 | 551 | 78,448 | 78,448 | — | ||||||||||
Texas | 1 | 7.88% | V | 1/31/2029 | — | 1,900 | 1,900 | — | ||||||||||
Mezzanine Loans | ||||||||||||||||||
Multiple | 179 | 8.25% | F | 12/9/2019 | 1,967 | 282,173 | 282,173 | 1,467,827 | ||||||||||
Construction Loans | ||||||||||||||||||
Colorado | 1 | 8.75% | V | 2/6/2021 | 437 | 59,043 | 58,746 | — | ||||||||||
Total | $ | 3,095 | $ | 427,414 | $ | 427,117 | $ | 1,467,827 | ||||||||||
Mortgage Loan Reconciliation | |||||||||||||
2018 | 2017 | 2016 | |||||||||||
(In thousands) | |||||||||||||
Beginning Balance | $ | 565,875 | $ | 634,201 | $ | 780,509 | |||||||
Additions: | |||||||||||||
New Loans | 9,900 | — | 140,000 | ||||||||||
Construction Draws | — | — | 13,402 | ||||||||||
Total additions | 9,900 | — | 153,402 | ||||||||||
Deductions: | |||||||||||||
Principal Repayments | (148,658 | ) | (68,326 | ) | (299,710 | ) | |||||||
Total deductions | (148,658 | ) | (68,326 | ) | (299,710 | ) | |||||||
Ending Balance | $ | 427,117 | $ | 565,875 | $ | 634,201 |
Location | Number of RE Assets | Interest Rate | Fixed / Variable | Maturity Date | Monthly Debt Service | Face Value | Net Book Value | Prior Liens | |||||||||||||||||||||||||||||||||||||||||||||
Mezzanine Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multiple | 154 | 6.53% | V | 6/9/2022 | 2,684 | 486,200 | 486,200 | 1,018,440 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,684 | $ | 486,200 | $ | 486,200 | $ | 1,018,440 | |||||||||||||||||||||||||||||||||||||||||||||
Mortgage Loan Reconciliation | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Beginning Balance | $ | 552,797 | $ | 642,218 | $ | 427,117 | ||||||||||||||
Additions: | ||||||||||||||||||||
New loans | — | 66,000 | 1,234,244 | |||||||||||||||||
Construction draws | — | — | — | |||||||||||||||||
Total additions | — | 66,000 | 1,234,244 | |||||||||||||||||
Deductions: | ||||||||||||||||||||
Principal repayments | (66,597) | (155,170) | (1,011,353) | |||||||||||||||||
Total deductions | (66,597) | (155,170) | (1,011,353) | |||||||||||||||||
Effect of foreign currency translation | — | (251) | (7,790) | |||||||||||||||||
Ending Balance | $ | 486,200 | $ | 552,797 | $ | 642,218 |
Page | |||||
Consolidated Financial Statement Schedules | |||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Incorporated by reference herein. Previously filed as Exhibit 2.1 to our Current Report on Form 8-K, filed on | |||||||||||||||||
Amended and Restated Certificate of Incorporation, as amended, of Ventas, Inc. | Incorporated by reference herein. Previously filed as Exhibit 3.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, filed on August 5, 2011, File No. 001-10989. | ||||||||||||||||
Fifth Amended and Restated Bylaws, as amended, of Ventas, Inc. | Incorporated by reference herein. Previously filed as Exhibit 3.2 to our Current Report on Form 8-K, filed on January 11, 2017, File No. 001-10989. | ||||||||||||||||
Specimen common stock certificate. | Incorporated by reference herein. Previously filed as Exhibit 4.1 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed on February 12, 2016, File No. 001-10989. | ||||||||||||||||
Indenture dated as of September 19, 2006 by and among Ventas, Inc., Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuer(s), the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee. | Incorporated by reference herein. Previously filed as Exhibit 4.9 to our Registration Statement on Form S-3, filed on April 7, 2006, File No. 333-133115. | ||||||||||||||||
Indenture dated as of September 26, 2013 by and among Ventas, Inc., Ventas Realty, Limited Partnership, as Issuer, the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee. | Incorporated by reference herein. Previously filed as Exhibit 4.10 to our Annual Report on Form 10-K for the year ended December 31, 2016, filed on February 14, 2017, File No. 001-10989. | ||||||||||||||||
Second Supplemental Indenture dated as of September 26, 2013 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 5.700% Senior Notes due 2043. | Incorporated by reference herein. Previously filed as Exhibit 4.3 to our Current Report on Form 8-K, filed on September 26, 2013, File No. 001-10989. | ||||||||||||||||
Fourth Supplemental Indenture dated as of April 17, 2014 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 3.750% Senior Notes due 2024. | Incorporated by reference herein. Previously filed as Exhibit 4.3 to our Current Report on Form 8-K, filed on April 17, 2014, File No. 001-10989. | ||||||||||||||||
Fifth Supplemental Indenture dated as of January 14, 2015 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 3.500% Senior Notes due 2025. | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on January 14, 2015, File No. 001-10989. | ||||||||||||||||
Sixth Supplemental Indenture dated as of January 14, 2015 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 4.375% Senior Notes due 2045. | Incorporated by reference herein. Previously filed as Exhibit 4.3 to our Current Report on Form 8-K, filed on January 14, 2015, File No. 001-10989. | ||||||||||||||||
Indenture dated as of August 19, 1997 by and between Nationwide Health Properties, Inc. and The Bank of New York, as Trustee, relating to the 6.90% Series C Medium-Term Notes due 2037 and the 6.59% Series C Medium-Term Notes due 2038. | Incorporated by reference herein. Previously filed as Exhibit 1.2 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on August 19, 1997, File No. 001-09028 (see Exhibit 1.2 of complete submission text file). | ||||||||||||||||
Supplemental Indenture dated July 1, 2011 among Nationwide Health Properties, Inc., Needles Acquisition LLC, and The Bank of New York Mellon Trust Company, N.A., as successor Trustee, relating to the 6.90% Series C Medium-Term Notes due 2037 and the 6.59% Series C Medium-Term Notes due 2038. | Incorporated by reference herein. Previously filed as Exhibit 4.17 to our Annual Report on Form 10-K for the year ended December 31, 2016, filed on February 14, 2017, File No. 001-10989. | ||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Indenture dated as September 24, 2014 by and among Ventas, Inc., Ventas | Incorporated by reference herein. Previously filed as Exhibit 4.1 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, filed on October 24, 2014, File No. 001-10989. | ||||||||||||||||
Second Supplemental Indenture dated as of September 24, 2014 by and among Ventas Canada Finance Limited, as Issuer, Ventas, Inc., as Guarantor, and Computershare Trust Company of Canada, as Trustee, relating to the 4.125% Senior Notes, Series B due 2024. | Incorporated by reference herein. Previously filed as Exhibit 4.3 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, filed on October 24, 2014, File No. 001-10989. | ||||||||||||||||
Fourth Supplemental Indenture dated as of June 1, 2017 by and among Ventas Canada Finance Limited, as Issuer, Ventas, Inc., as Guarantor, and Computershare Trust Company of Canada, as Trustee, relating to the 2.55% Senior Notes, Series D due 2023. | Incorporated by reference herein. Previously filed as Exhibit 4.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, filed on July 28, 2017, File No. 001-10989. | ||||||||||||||||
Fifth Supplemental Indenture dated as of November 12, 2019 by and among Ventas Canada Finance Limited, as Issuer, Ventas, Inc., as Guarantor, and Computershare Trust Company of Canada, as Trustee, relating to the 2.80% Senior Notes, Series E due 2024. | Incorporated by reference herein. Previously filed as Exhibit 4.15 to our Annual Report on Form 10-K for the year ended December 31, 2019, filed on February 24, 2020, File No. 001-10989. | ||||||||||||||||
Seventh Supplemental Indenture dated as of December 1, 2021 by and among Ventas Canada Finance Limited, as Issuer, Ventas, Inc., as Guarantor, and Computershare Trust Company of Canada, as Trustee, relating to the 2.45% Senior Notes, Series G due 2027. | Filed herewith. | ||||||||||||||||
Eighth Supplemental Indenture dated as of December 1, 2021 by and among Ventas Canada Finance Limited, as Issuer, Ventas, Inc., as Guarantor, and Computershare Trust Company of Canada, as Trustee, relating to the 3.30% Senior Notes, Series H due 2031. | Filed herewith. | ||||||||||||||||
Indenture dated as of July 16, 2015 by and among Ventas, Inc., Ventas Realty, Limited Partnership, as Issuer, the Guarantors named therein as Guarantors, and U.S. Bank National Association, as Trustee. | Incorporated by reference herein. Previously filed as Exhibit 4.1 to our Current Report on Form 8-K, filed on July 16, 2015, File No. 001-10989. | ||||||||||||||||
First Supplemental Indenture dated as of July 16, 2015 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 4.125% Senior Notes due 2026. | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on July 16, 2015, File No. 001-10989. | ||||||||||||||||
Third Supplemental Indenture dated as of September 21, 2016 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the 3.250% Senior Notes due 2026. | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on September 21, 2016, File No. 001-10989. | ||||||||||||||||
Fourth Supplemental Indenture dated as of March 29, 2017 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee, relating to the | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on March 29, 2017, File No. 001-10989. | ||||||||||||||||
Indenture dated February 23, 2018 among Ventas, Inc., Ventas Realty, Limited Partnership, the Guarantors named therein, and U.S. Bank National Association, as Trustee | Incorporated by reference herein. Previously filed as Exhibit 4.1 to our Current Report on Form 8-K, filed on February 23, 2018, File No. 001-10989. | ||||||||||||||||
First Supplemental Indenture dated as of February 23, 2018 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor and U.S. Bank National Association, as Trustee relating to the 4.000% Senior Notes due 2028 | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on February 23, 2018, File No. 001-10989. | ||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on February 26, 2019, File No. 001-10989. | |||||||||||||||||
Fourth Supplemental Indenture dated as of July 3, 2019 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor and U.S. Bank National Association, as Trustee relating to the 2.650% Senior Notes due 2025 | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on July 3, 2019, File No. 001-10989. | ||||||||||||||||
Fifth Supplemental Indenture dated as of August 21, 2019 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor and U.S. Bank National Association, as Trustee relating to the 3.000% Senior Notes due 2030 | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on August | ||||||||||||||||
Sixth Supplemental Indenture dated as of April 1, 2020 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor and U.S. Bank National Association, as Trustee relating to the 4.750% Senior Notes due 2030. | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on April 1, 2020, File No. 001-10989. | ||||||||||||||||
Seventh Supplemental Indenture dated as of August 20, 2021 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor and U.S. Bank National Association, as Trustee relating to the 2.500% Senior Notes due 2031. | Incorporated by reference herein. Previously filed as Exhibit 4.2 to our Current Report on Form 8-K, filed on August 20, 2021, File No. 001-10989. | ||||||||||||||||
Description of the Registrant’s Securities. | Filed herewith. | ||||||||||||||||
First Amended and Restated Agreement of Limited Partnership of Ventas Realty, Limited Partnership. | Incorporated by reference herein. Previously filed as Exhibit 3.5 to our Registration Statement on Form S-4, as amended, filed on May 29, 2002, File No. 333-89312. | ||||||||||||||||
Credit and Guaranty Agreement dated July 26, 2018 among Ventas Realty, Limited Partnership, as Borrower, Ventas, Inc., as Guarantor, The Lenders party thereto from time to time, and Bank of America, N.A., as Administrative | Incorporated by reference herein. Previously filed as Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed on October 26, 2018, File No. | ||||||||||||||||
First | Incorporated by reference herein.Previously filed as Exhibit | ||||||||||||||||
Incorporated by reference herein. Previously filed as Exhibit | |||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
First Amendment to the Third Amended and Restated Credit and Guaranty Agreement, dated as of October 5, 2021, among Ventas Realty, Limited Partnership, Ventas SSL Ontario II, Inc., Ventas SSL Ontario III, Inc., Ventas Canada Finance Limited, Ventas UK Finance, Inc., and Ventas Euro Finance, LLC, as Borrowers, Ventas, Inc., as Guarantor, and Bank of America, N.A., as Administrative Agent. | Incorporated by reference herein.Previously filed as Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended | ||||||||||||||||
Incorporated by reference herein.Previously filed as Exhibit | |||||||||||||||||
Ventas, Inc. 2004 Stock Plan for Directors, as amended. | Incorporated by reference herein. Previously filed as Exhibit 10.16.1 to our Annual Report on Form 10-K for the year ended December 31, 2004, filed on March 1, 2005, File No. 33-107942. | ||||||||||||||||
Ventas, Inc. 2006 Incentive Plan, as amended. | Incorporated by reference herein. Previously filed as Exhibit 10.10.1 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Form of Stock Option Agreement—2006 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.15.2 to our Annual Report on Form 10-K for the year ended December 31, 2006, filed on February 22, 2007, File No. 001-10989. | ||||||||||||||||
Form of Restricted Stock Agreement—2006 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.15.3 to our Annual Report on Form 10-K for the year ended December 31, 2006, filed on February 22, 2007, File No. 001-10989. | ||||||||||||||||
Ventas, Inc. 2006 Stock Plan for Directors, as amended. | Incorporated by reference herein. Previously filed as Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, filed on April 27, 2012, File No. 001-10989. | ||||||||||||||||
Form of Stock Option Agreement—2006 Stock Plan for Directors. | Incorporated by reference herein. Previously filed as Exhibit 10.11.2 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Form of Amendment to Stock Option Agreement—2006 Stock Plan for Directors. | Incorporated by reference herein. Previously filed as Exhibit 10.2 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, filed on April 27, 2012, File No. 001-10989. | ||||||||||||||||
Form of Restricted Stock Unit Agreement—2006 Stock Plan for Directors. | Incorporated by reference herein. Previously filed as Exhibit 10.11.4 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.1 to our Current Report on Form 8-K, filed on May 23, 2012, File No. 001-10989. | ||||||||||||||||
First Amendment to the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.7 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Stock Option Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.6.2 to our Annual Report on Form 10-K for the year ended December 31, 2014, filed February 13, 2015, File No. 001-10989. | ||||||||||||||||
Form of Restricted Stock Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.6.3 to our Annual Report on Form 10-K for the year ended December 31, 2014, filed on February 13, 2015, File No. 001-10989. | ||||||||||||||||
Form of Stock Option Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.4 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121. | ||||||||||||||||
Form of Restricted Stock Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.5 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121. | ||||||||||||||||
Form of Restricted Stock Unit Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.6 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121. | ||||||||||||||||
Form of Performance-Based Restricted Stock Unit Agreement (CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.8 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Restricted Stock Unit Agreement (CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.9 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Transition Restricted Stock Unit Agreement (CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.10 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Performance-Based Restricted Stock Unit Agreement (Non-CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.11 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Restricted Stock Unit Agreement (Non-CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.12 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Form of Transition Restricted Stock Unit Agreement (Non-CEO) under the Ventas, Inc. 2012 Incentive Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.10.13 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed on April 28, 2017, File No. 001-10989. | ||||||||||||||||
Ventas Executive Deferred Stock Compensation Plan, as amended and restated on December 7, 2017. | Incorporated by reference herein. Previously filed as Exhibit 10.9.1 to our Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 9, 2018, File No. 001-10989. | ||||||||||||||||
Deferral Election Form under the Ventas Executive Deferred Stock Compensation Plan, as amended and restated on December 7, 2017. | Incorporated by reference herein. Previously filed as Exhibit 10.9.2 to our Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 9, 2018, File No. 001-10989. | ||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Ventas Nonemployee Directors’ Deferred Stock Compensation Plan, as amended. | Incorporated by reference herein. Previously filed as Exhibit 10.13.1 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Deferral Election Form under the Ventas Nonemployee Directors’ Deferred Stock Compensation Plan. | Incorporated by reference herein. Previously filed as Exhibit 10.13.2 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006. | Incorporated by reference herein. Previously filed as Exhibit 10.1 to the Nationwide Health Properties, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, filed on May 4, 2006, File No. 001-09028. | ||||||||||||||||
Amendment dated October 28, 2008 to the Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006. | Incorporated by reference herein. Previously filed as Exhibit 10.9 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028. | ||||||||||||||||
Second Amended and Restated Employment Agreement dated as of March 22, 2011 between Ventas, Inc. and Debra A. Cafaro. | Incorporated by reference herein. Previously filed as Exhibit 10.1 to our Current Report on Form 8-K, filed on March 24, 2011, File No. 001-10989. | ||||||||||||||||
Employee Protection and Noncompetition Agreement dated as of October 21, 2013 between Ventas, Inc. and John D. Cobb. | Incorporated by reference herein. Previously filed as Exhibit 10.18 to our Annual Report on Form 10-K for the year ended December 31, 2013, filed on February 18, 2014, File No. 001-10989. | ||||||||||||||||
Amendment dated December 8, 2017 to Employee Protection and Noncompetition Agreement dated as of October 21, 2013 between Ventas, Inc. and John D. Cobb. | Incorporated by reference herein. Previously filed as Exhibit 10.16.2 to our Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 9, 2018, File No. 001-10989. | ||||||||||||||||
Offer Letter dated September 16, 2014 from Ventas, Inc. to Robert F. Probst. | Incorporated by reference herein. Previously filed as Exhibit 10.1 to our Current Report on Form 8-K, filed on September 29, 2014, File No. 001-10989. | ||||||||||||||||
Employee Protection and Noncompetition Agreement dated September 16, 2014 between Ventas, Inc. and Robert F. Probst. | Incorporated by reference herein. Previously filed as Exhibit 10.2 to our Current Report on Form 8-K, filed on September 29, 2014, File No. 001-10989. | ||||||||||||||||
Amendment dated December 8, 2017 to Employee Protection and Noncompetition Agreement dated as of September 16, 2014 between Ventas, Inc. and Robert F. Probst. | Incorporated by reference herein. Previously filed as Exhibit 10.17.3 to our Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 9, 2018, File No. 001-10989. | ||||||||||||||||
Offer of Employment Term Sheet dated March 20, 2018 from Ventas, Inc. to Peter J. Bulgarelli. | Incorporated by reference herein. Previously filed as Exhibit 10.1.1 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, filed on April 27, 2018, File No. 001-10989. | ||||||||||||||||
Employee Protection and Noncompetition Agreement dated March 20, 2018 between Ventas, Inc. and Peter J. Bulgarelli. | Incorporated by reference herein. Previously filed as Exhibit 10.1.2 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, filed on April 27, 2018, File No. 001-10989. | ||||||||||||||||
Ventas Employee and Director Stock Purchase Plan, as amended. | Incorporated by reference herein. Previously filed as Exhibit 10.18 to our Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 27, 2009, File No. 001-10989. | ||||||||||||||||
Employee Protection and Restrictive Covenants Agreement dated January 21, 2020 between Ventas, Inc. and Carey Shea Roberts. | Incorporated by reference herein. Previously filed as Exhibit 10.2.1 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed on May 8, 2020, File No. 001-10989. | ||||||||||||||||
Employment Bonus Agreement dated March 4, 2020 between Ventas, Inc. and Carey Shea Roberts. | Incorporated by reference herein. Previously filed as Exhibit 10.2.2 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed on May 8, 2020, File No. 001-10989. | ||||||||||||||||
Exhibit Number | Description of Document | Location of Document | |||||||||||||||
Offer Letter dated December 22, 2019 from Ventas, Inc. to Carey Shea Roberts. | Incorporated by reference herein.Previously filed as Exhibit 10.18.3 to our Annual Report on Form 10-K for the year ended December 31, 2020, filed on February 23, 2021, File No. 001-10989 | ||||||||||||||||
Employee Protection and Restrictive Covenants Agreement dated February 7, 2020 between Ventas, Inc. and J. Justin Hutchens. | Incorporated by reference herein. Previously filed as Exhibit 10.3 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed on May 8, 2020, File No. 001-10989. | ||||||||||||||||
Offer Letter dated January 30, 2020 from Ventas, Inc. to J. Justin Hutchens. | Incorporated by reference herein.Previously filed as Exhibit 10.19.2 to our Annual Report on Form 10-K for the year ended December 31, 2020, filed on February 23, 2021, File No. 001-10989 | ||||||||||||||||
Subsidiaries of Ventas, Inc. | Filed herewith. | ||||||||||||||||
List of Guarantors and Issuers of Guaranteed Securities. | Filed herewith. | ||||||||||||||||
Consent of KPMG LLP. | Filed herewith. | ||||||||||||||||
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(a) under the Exchange Act. | Filed herewith. | ||||||||||||||||
Certification of Robert F. Probst, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(a) under the Exchange Act. | Filed herewith. | ||||||||||||||||
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350. | Filed herewith. | ||||||||||||||||
Certification of Robert F. Probst, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350. | Filed herewith. | ||||||||||||||||
101 | The following materials from the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, formatted in iXBRL (Inline Extensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Equity, (v) the Consolidated Statements of Cash Flows, (vi) Notes to the Consolidated Financial Statements and (vii) Schedule III and IV. | Filed herewith. | |||||||||||||||
104 | Cover Page Interactive Data | Filed herewith. | |||||||||||||||
VENTAS, INC. | |||||||||||
By: | |||||||||||
/s/ DEBRA A. CAFARO | |||||||||||
Debra A. Cafaro Chairman and Chief Executive Officer |
Signature | Title | Date | ||||||
/s/ DEBRA A. CAFARO | Chairman and Chief Executive Officer (Principal Executive Officer) | February | ||||||
Debra A. Cafaro | ||||||||
/s/ ROBERT F. PROBST | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | February | ||||||
Robert F. Probst | ||||||||
/s/ GREGORY R. LIEBBE | Senior Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer) | February | ||||||
Gregory R. Liebbe | ||||||||
/s/ MELODY C. BARNES | Director | February | ||||||
Melody C. Barnes | ||||||||
/s/ JAY M. GELLERT | Director | February | ||||||
Jay M. Gellert | ||||||||
/s/ MATTHEW J. LUSTIG | Director | February | ||||||
Matthew J. Lustig | ||||||||
/s/ ROXANNE M. MARTINO | Director | February | ||||||
Roxanne M. Martino | ||||||||
/s/ MARGUERITE M. NADER | Director | February 18, 2022 | ||||||
Marguerite M. Nader | ||||||||
/s/ SEAN P. NOLAN | Director | February 18, 2022 | ||||||
Sean P. Nolan | ||||||||
/s/ WALTER C. RAKOWICH | Director | February | ||||||
Walter C. Rakowich | ||||||||
/s/ ROBERT D. REED | Director | February | ||||||
Robert D. Reed | ||||||||
/s/ JAMES D. SHELTON | Director | February | ||||||
James D. Shelton | ||||||||
/s/ MAURICE S. SMITH | Director | February 18, 2022 | ||||||
Maurice S. Smith | ||||||||