Healthcare Realty Trust (HR) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-35568
Entity Registrant Name	HEALTHCARE REALTY TRUST INCORPORATED
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-4738467
Entity Address, Address Line One	3310 West End Avenue
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	615
Local Phone Number	269-8175
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	HR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		380,549,204
Entity Central Index Key	0001360604
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Former Address
Entity Information [Line Items]
Entity Address, Address Line One	16435 N. Scottsdale Road
Entity Address, Address Line Two	Suite 320
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85254

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Real estate properties
Land	$ 456,306	$ 387,918
Buildings, improvements and lease intangibles	4,673,026	4,458,119
Personal property	11,799	11,761
Investment in financing receivable, net	118,446	186,745
Financing lease right-of-use assets	71,632	31,576
Construction in progress	16,728	3,974
Land held for development	22,952	24,849
Total real estate properties	5,370,889	5,104,942
Less accumulated depreciation and amortization	(1,402,509)	(1,338,743)
Total real estate properties, net	3,968,380	3,766,199
Cash and cash equivalents	34,312	13,175
Assets held for sale, net	0	57
Operating lease right-of-use assets	126,204	128,386
Investments in unconsolidated joint ventures	210,781	161,942
Other assets, net	209,200	189,160
Total assets	4,548,877	4,258,919
Liabilities
Notes and bonds payable	2,063,755	1,801,325
Accounts payable and accrued liabilities	84,210	86,108
Liabilities of assets held for sale	0	294
Operating lease liabilities	94,748	96,138
Financing lease liabilities	62,195	22,551
Other liabilities	66,102	67,387
Total liabilities	2,371,010	2,073,803
Commitments and contingencies
Stockholders' equity
Preferred stock, $.01 par value per share; 50,000 shares authorized; none issued and outstanding	0	0
Common stock, $.01 par value per share; 300,000 shares authorized; 151,637 and 150,457 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	1,516	1,505
Additional paid-in capital	4,002,526	3,972,917
Accumulated other comprehensive loss	(1,250)	(9,981)
Cumulative net income attributable to common stockholders	1,314,515	1,266,158
Cumulative dividends	(3,139,440)	(3,045,483)
Total stockholders' equity	2,177,867	2,185,116
Total liabilities and stockholders' equity	$ 4,548,877	$ 4,258,919

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	50,000,000	50,000,000
Preferred stock, issued (shares)	0	0
Preferred stock, outstanding (shares)	0	0
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	300,000,000	300,000,000
Common stock, issued (shares)	151,637,000	150,457,000
Common stock, outstanding (shares)	151,637,000	150,457,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Rental income	$ 140,632	$ 128,486	$ 279,121	$ 256,874
Interest from financing receivable, net	1,957	510	3,887	510
Other operating	2,738	2,427	5,213	4,378
Revenues	145,327	131,423	288,221	261,762
Expenses
Property operating	57,010	51,509	114,474	103,724
General and administrative	10,540	8,545	21,576	17,044
Acquisition and pursuit costs	1,352	670	2,655	1,414
Merger-related costs	7,085	0	13,201	0
Depreciation and amortization	55,731	49,826	109,772	99,905
Expenses	131,718	110,550	261,678	222,087
Other income (expense)
Gain on sales of real estate properties	8,496	20,970	53,280	39,860
Interest expense	(15,543)	(13,261)	(29,204)	(26,523)
Loss on extinguishment of debt	0	0	(1,429)	0
Impairment of real estate properties	0	(5,078)	25	(5,912)
Equity loss from unconsolidated joint ventures	(307)	(146)	(652)	(220)
Interest and other (expense) income, net	(125)	(262)	(206)	238
Total other income (expense)	(7,479)	2,223	21,814	7,443
Net income	$ 6,130	$ 23,096	$ 48,357	$ 47,118
Basic earnings per common share (in dollars per share)	$ 0.04	$ 0.16	$ 0.32	$ 0.33
Diluted earnings per common share (in dollars per share)	$ 0.04	$ 0.16	$ 0.32	$ 0.33
Weighted average common shares outstanding - basic	149,675,855	141,917,213	149,321,412	140,354,167
Weighted average common shares outstanding - diluted	149,738,549	142,048,988	149,396,806	140,467,777
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 6,130	$ 23,096	$ 48,357	$ 47,118
Interest rate swaps
Reclassification adjustments for losses included in net income (interest expense)	823	1,114	1,909	2,209
Gains (losses) arising during the period on interest rate swaps	1,663	(807)	6,822	2,043
Other comprehensive income	2,486	307	8,731	4,252
Comprehensive income	8,616	23,403	57,088	51,370
Interest Rate Swaps
Interest rate swaps
Gains (losses) arising during the period on interest rate swaps	$ 1,663	$ (807)	$ 6,822	$ 2,043

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Cumulative Net Income	Cumulative Dividends
Beginning balance at Dec. 31, 2020	$ 1,948,376	$ 1,395	$ 3,635,341	$ (17,832)	$ 1,199,499	$ (2,870,027)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	179,275	59	179,216
Common stock redemptions	(1,611)	(1)	(1,610)
Share-based compensation	5,647	2	5,645
Net income	47,118				47,118
Reclassification adjustments for losses included in net income (interest expense)	2,209			2,209
Gains (Losses) arising during the period on interest rate swaps	2,043			2,043
Dividends to common stockholders (in usd per share)	(86,803)					(86,803)
Ending balance at Jun. 30, 2021	2,096,254	1,455	3,818,592	(13,580)	1,246,617	(2,956,830)
Beginning balance at Mar. 31, 2021	1,998,109	1,417	3,699,867	(13,887)	1,223,521	(2,912,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	116,191	38	116,153
Common stock redemptions	(55)		(55)
Share-based compensation	2,627		2,627
Net income	23,096				23,096
Reclassification adjustments for losses included in net income (interest expense)	1,114			1,114
Gains (Losses) arising during the period on interest rate swaps	(807)			(807)
Dividends to common stockholders (in usd per share)	(44,021)					(44,021)
Ending balance at Jun. 30, 2021	2,096,254	1,455	3,818,592	(13,580)	1,246,617	(2,956,830)
Beginning balance at Dec. 31, 2021	2,185,116	1,505	3,972,917	(9,981)	1,266,158	(3,045,483)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	22,771	7	22,764
Common stock redemptions	(206)		(206)
Share-based compensation	7,055	4	7,051
Net income	48,357				48,357
Reclassification adjustments for losses included in net income (interest expense)	1,909			1,909
Gains (Losses) arising during the period on interest rate swaps	6,822			6,822
Dividends to common stockholders (in usd per share)	(93,957)					(93,957)
Ending balance at Jun. 30, 2022	2,177,867	1,516	4,002,526	(1,250)	1,314,515	(3,139,440)
Beginning balance at Mar. 31, 2022	2,212,882	1,516	3,999,060	(3,736)	1,308,385	(3,092,343)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	110		110
Share-based compensation	3,356		3,356
Net income	6,130				6,130
Reclassification adjustments for losses included in net income (interest expense)	823			823
Gains (Losses) arising during the period on interest rate swaps	1,663			1,663
Dividends to common stockholders (in usd per share)	(47,097)					(47,097)
Ending balance at Jun. 30, 2022	$ 2,177,867	$ 1,516	$ 4,002,526	$ (1,250)	$ 1,314,515	$ (3,139,440)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividend per share to common Stockholders (in dollars per share)	$ 0.31	$ 0.3025	$ 0.62	$ 0.6050

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
OPERATING ACTIVITIES
Net income	$ 6,130	$ 23,096	$ 48,357	$ 47,118
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			109,772	99,905
Other amortization			2,680	1,728
Share-based compensation			7,055	5,647
Amortization of straight-line rent receivable (lessor)			(3,292)	(3,024)
Amortization of straight-line rent on operating leases (lessee)			756	735
Gain on sales of real estate properties			(53,280)	(39,860)
Loss on extinguishment of debt	0	0	1,429	0
Impairment of real estate properties			(25)	5,912
Equity loss from unconsolidated joint ventures	307	146	652	220
Distributions from unconsolidated joint ventures			108	0
Non-cash interest from financing receivable			(388)	0
Changes in operating assets and liabilities:
Other assets, including right-of-use-assets			540	(4,746)
Accounts payable and accrued liabilities			(3,166)	(10,418)
Other liabilities			2,923	2,412
Net cash provided by operating activities			114,121	105,629
INVESTING ACTIVITIES
Acquisitions of real estate			(287,004)	(100,121)
Development of real estate			(7,475)	(1,415)
Additional long-lived assets			(45,631)	(41,839)
Investments in unconsolidated joint ventures			(49,599)	(45,018)
Investment in financing receivable			498
Investment in financing receivable				(104,648)
Proceeds from sales of real estate properties			108,044	90,144
Net cash used in investing activities			(281,167)	(202,897)
FINANCING ACTIVITIES
Net borrowings on unsecured credit facility			280,500	13,000
Repayments of notes and bonds payable			(18,224)	(1,925)
Redemption of notes and bonds payable			(2,184)	0
Dividends paid			(93,774)	(86,803)
Net proceeds from issuance of common stock			22,768	179,381
Common stock redemptions			(852)	(2,014)
Debt issuance and assumption costs			0	(252)
Payments made on finance leases			(51)	(683)
Net cash provided by financing activities			188,183	100,704
Increase in cash and cash equivalents			21,137	3,436
Cash and cash equivalents at beginning of period			13,175	15,303	$ 15,303
Cash and cash equivalents at end of period	$ 34,312	$ 18,739	34,312	18,739	$ 13,175
Supplemental Cash Flow Information
Interest paid			26,641	24,659
Invoices accrued for construction, tenant improvements and other capitalized costs			18,874	19,506
Capitalized interest			$ 145	$ 154

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Business Overview Healthcare Realty Trust Incorporated is a real estate investment trust ("REIT") that owns, leases, manages, acquires, finances, develops and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. References to the Company in these Notes to the Condensed Consolidated Financial Statements are to Legacy HR as the "accounting acquiror" in the Merger defined and described in more detail in Note 9 to these Condensed Consolidated Financial Statements. As of June 30, 2022, the Company had gross investments of approximately $5.4 billion in 255 real estate properties, construction in progress, redevelopments, financing receivables, financing lease right-of-use assets, land held for development and corporate property. The Company's 255 real estate properties are located in 23 states and total approximately 17.2 million square feet. The Company provided leasing and property management services to approximately 15.4 million square feet nationwide. The Company owns 50% of an unconsolidated joint venture with Teachers Insurance and Annuity Association (the "TIAA Joint Venture") and earns certain fees as the managing member. As of June 30, 2022, the TIAA Joint Venture owned 21 real estate properties. See Note 2 for more details regarding the Company's unconsolidated joint ventures. Any references to square footage or occupancy percentage, and any amounts derived from these values in these notes to the Company's Condensed Consolidated Financial Statements, are outside the scope of our independent registered public accounting firm’s review. Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, management believes there has been no material change in the information disclosed in the Notes to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. All material intercompany transactions and balances have been eliminated in consolidation. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. In addition, the interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2022 for many reasons including, but not limited to, the Merger (as discussed in more detail in Note 9 below), acquisitions, dispositions, capital financing transactions, changes in interest rates and the effects of other trends, risks and uncertainties. Principles of Consolidation The Company’s Condensed Consolidated Financial Statements include, as of June 30, 2022, the accounts of the Company, its wholly owned subsidiaries, and joint ventures and partnerships where the Company controls the operating activities. GAAP requires us to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). Accounting Standards Codification 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is the VIE’s primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis. For property holding entities not determined to be VIEs, the Company consolidates such entities in which it owns 100% of the equity or has a controlling financial interest evidenced by ownership of a majority voting interest. All intercompany balances and transactions are eliminated in consolidation. For any entity in which the Company owns less than 100% of the equity interest, the Company consolidates the entity if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. As of June 30, 2022, the Company's unconsolidated joint venture arrangements were accounted for using the equity method of accounting as the Company exercised significant influence over but did not control these entities. See Note 2 for more details regarding the Company's unconsolidated joint ventures. Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates. Investments in Leases - Financing Receivables, Net In accordance with Accounting Standards Codification ("ASC") 842, for transactions in which the Company enters into a contract to acquire an asset and leases it back to the seller (i.e., a sale leaseback transaction), control of the asset is not considered to have transferred when the seller-lessee has a purchase option. As a result, the Company does not recognize the underlying real estate asset but instead recognizes a financial asset in accordance with ASC 310 “Receivables”. During the first quarter of 2022, the Company reclassified the two medical office buildings in Nashville, Tennessee that were acquired in separate sale-leaseback transactions in the fourth quarter of 2021. The leases with the sellers commenced in the first quarter, which resulted in the allocation of the financing receivable totaling $73.9 million to land and building and improvements. Income from Lease Financing Receivables The Company recognizes the related income from the financing receivable based on an imputed interest rate over the terms of the applicable lease. As a result, the interest recognized from the financing receivable will not equal the cash payments from the lease agreement. Acquisition costs incurred in connection with entering into the financing receivable are treated as loan origination fees. These costs are classified with the financing receivable and are included in the balance of the net investment. Amortization of these amounts will be recognized as a reduction to Income from financing receivable, net over the life of the lease. Revenue from Contracts with Customers (Topic 606) The Company recognizes certain revenue under the core principle of Topic 606. This topic requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Lease revenue is not within the scope of Topic 606. To achieve the core principle, the Company applies the five step model specified in the guidance. Revenue that is accounted for under Topic 606 is segregated on the Company’s Condensed Consolidated Statements of Income in the Other operating line item. This line item includes parking income, management fee income and other miscellaneous income. Below is a detail of the amounts by category: THREE MONTHS ENDED SIX MONTHS ENDED in thousands 2022 2021 2022 2021 Type of Revenue Parking income $ 1,919 $ 1,880 $ 3,672 $ 3,538 Management fee income 1 783 419 1,438 658 Miscellaneous 36 128 103 182 $ 2,738 $ 2,427 $ 5,213 $ 4,378 1 Includes the recovery of certain expenses under the financing receivable as outlined in the management agreement. The Company’s major types of revenue that are accounted for under Topic 606 that are listed above are all accounted for as the performance obligation is satisfied. The performance obligations that are identified for each of these items are satisfied over time, and the Company recognizes revenue monthly based on this principle. New Accounting Pronouncements Accounting Standards Update No. 2020-04 On March 12, 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848)

Real Estate Investments

Real Estate Investments	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Real Estate Investments	Real Estate Investments 2022 Company Acquisitions The following table details the Company's acquisitions for the six months ended June 30, 2022: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL ESTATE 2 OTHER 3 SQUARE FOOTAGE Dallas, TX 2/11/22 $ 8,175 $ 8,185 $ 8,202 $ (17) 18,000 San Francisco, CA 4 3/7/22 114,000 112,986 108,687 4,299 166,396 Atlanta, GA 4/7/22 6,912 7,054 7,178 (124) 21,535 Denver, CO 4/13/22 6,320 5,254 5,269 (15) 12,207 Colorado Springs, CO 5 4/13/22 13,680 13,686 13,701 (15) 25,800 Seattle, WA 4/28/22 8,350 8,334 8,370 (36) 13,256 Houston, TX 4/28/22 36,250 36,299 36,816 (517) 76,781 Los Angeles, CA 4/29/22 35,000 35,242 25,400 9,842 34,282 Oklahoma City, OK 4/29/22 11,100 11,259 11,334 (75) 34,944 Raleigh, NC 4 5/31/22 27,500 26,710 27,127 (417) 85,113 Tampa, FL 5 6/9/22 18,650 18,619 18,212 407 55,788 Total real estate acquisitions $ 285,937 $ 283,628 $ 270,296 $ 13,332 544,102 1 Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition. 2 Excludes financing right of use assets. 3 Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition. 4 Includes three properties. 5 Includes two properties. Subsequent to June 30, 2022 and unrelated to the Merger, the Company acquired the following property: Dollars in thousands DATE ACQUIRED PURCHASE PRICE SQUARE FOOTAGE Seattle, WA 8/1/22 $ 4,850 10,593 2022 TIAA Joint Venture Acquisitions The TIAA Joint Venture is not consolidated for purposes of the Company's Condensed Consolidated Financial Statements. The following table details the TIAA Joint Venture acquisitions for the six months ended June 30, 2022: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL OTHER 2 SQUARE FOOTAGE COMPANY OWNERSHIP % San Francisco, CA 3 3/7/22 $ 67,175 $ 66,789 $ 65,179 $ 1,610 110,865 50 % Los Angeles, CA 4 3/7/22 33,800 32,384 32,390 (6) 103,259 50 % Total real estate acquisitions $ 100,975 $ 99,173 $ 97,569 $ 1,604 214,124 1 Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition. 2 Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition. 3 Includes three properties. 4 Includes two properties. Unconsolidated Joint Ventures The Company's investment in and loss recognized for the three and six months ended June 30, 2022 and 2021 related to its joint ventures accounted for under the equity method are shown in the table below: THREE MONTHS ENDED SIX MONTHS ENDED Dollars in thousands 2022 2021 2022 2021 Investments in unconsolidated joint ventures, beginning of period 1 $ 211,195 $ 83,943 $ 161,942 $ 73,137 New investments during the period — 34,138 49,599 45,018 Equity loss recognized during the period 1 (307) (146) (652) (220) Owner Distributions (107) — (108) — Investments in unconsolidated joint ventures, end of period 1 $ 210,781 $ 117,935 $ 210,781 $ 117,935 1 In addition to the TIAA Joint Venture, the Company also has a 55% and 27% ownership interest, respectively, in two limited liability companies that each own a parking garage in Atlanta, Georgia. 2022 Real Estate Asset Dispositions The following table details the Company's dispositions for the six months ended June 30, 2022: Dollars in millions DATE DISPOSED SALE PRICE CLOSING ADJUSTMENTS NET PROCEEDS NET REAL ESTATE INVESTMENT OTHER (INCLUDING RECEIVABLES) 1 GAIN/(IMPAIRMENT) SQUARE FOOTAGE Loveland, CO 2 2/24/22 $ 84,950 $ (45) $ 84,905 $ 40,095 $ 4 $ 44,806 150,291 San Antonio, TX 2 4/15/22 25,500 (2,272) 23,228 14,381 284 8,563 201,523 Total dispositions $ 110,450 $ (2,317) $ 108,133 $ 54,476 $ 288 $ 53,369 351,814 1 Includes straight-line rent receivables, leasing commissions and lease inducements. 2 Includes two properties. Assets Held for Sale The Company did not have any properties classified as assets held for sale as of June 30, 2022 and December 31, 2021. The table below reflects the assets and liabilities of the properties classified as held for sale as of June 30, 2022 and December 31, 2021: Dollars in thousands June 30, 2022 December 31, 2021 Other assets, net $ — $ 57 Assets held for sale, net $ — $ 57 Accounts payable and accrued liabilities $ — $ 169 Other liabilities — 125 Liabilities of assets held for sale $ — $ 294

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases Lessor Accounting The Company’s properties generally were leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2040. Some leases provide for fixed rent renewal terms in addition to market rent renewal terms. Some leases provide the lessee, during the term of the lease, with an option or right of first refusal to purchase the leased property. The Company’s single-tenant net leases generally require the lessee to pay minimum rent and all taxes (including property tax), insurance, maintenance and other operating costs associated with the leased property. The Company's leases typically have escalators that are either based on a stated percentage or an index such as the consumer price index ("CPI"). In addition, most of the Company's leases include nonlease components, such as reimbursement of operating expenses as additional rent, or include the reimbursement of expected operating expenses as part of the lease payment. The Company adopted an accounting policy to combine lease and nonlease components. Rent escalators based on indices and reimbursements of operating expenses that are not included in the lease rate are considered variable lease payments. Variable payments are recognized in the period earned. Lease income for the Company's operating leases recognized for the three and six months ended June 30, 2022 was $140.6 million and $279.1 million, respectively. On March 30, 2022, the Company executed a lease as a ground lessor for a 1.9 acre parcel of land in Texas previously recorded in land held for development. The lease is classified as a sales-type lease under Topic 842 as the present value of lease payments equals or exceeds substantially all of the fair value of the underlying asset. The land value of $1.8 million was reclassified from Land held for development to Other assets. Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of June 30, 2022 were as follows: Dollars in thousands OPERATING 2022 $ 214,083 2023 398,689 2024 326,597 2025 269,308 2026 217,068 2027 and thereafter 566,038 $ 1,991,783 Lessee Accounting As of June 30, 2022, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. As of June 30, 2022, the Company had 108 properties totaling 8.9 million square feet that were held under ground leases. Some of the ground lease renewal terms are based on fixed rent renewal terms and others have market rent renewal terms. These ground leases typically have initial terms of 40 to 99 years with expiration dates through 2119. Any rental increases related to the Company’s ground leases are generally either stated or based on CPI. The Company had 41 prepaid ground leases as of June 30, 2022. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $0.1 million and $0.2 million of the Company’s rental expense for the three months ended June 30, 2022 and 2021, respectively, and $0.3 million for the six months ended June 30, 2022 and 2021, respectively. The Company’s future lease payments (primarily for its 67 non-prepaid ground leases) as of June 30, 2022 were as follows: Dollars in thousands OPERATING FINANCING 2022 $ 2,118 $ 735 2023 5,071 1,654 2024 5,130 1,692 2025 5,174 1,723 2026 5,201 1,749 2027 and thereafter 306,956 368,730 Total undiscounted lease payments 329,650 376,283 Discount (234,902) (314,088) Lease liabilities $ 94,748 $ 62,195 The following table provides details of the Company's total lease expense for the three and six months ended June 30, 2022 and 2021: THREE MONTHS ENDED SIX MONTHS ENDED Dollars in thousands 2022 2021 2022 2021 Operating lease cost Operating lease expense $ 1,194 $ 1,182 $ 2,409 $ 2,360 Variable lease expense 1,038 972 2,062 1,868 Finance lease cost Amortization of right-of-use assets 331 88 503 176 Interest on lease liabilities 765 247 1,052 493 Total lease expense $ 3,328 $ 2,489 $ 6,026 $ 4,897 Other information Operating cash flows outflows related to operating leases $ 1,799 $ 2,587 $ 4,596 $ 4,431 Operating cash flows outflows related to financing leases $ 509 $ — $ 767 $ — Financing cash flows outflows related to financing leases $ — $ 321 $ 51 $ 683 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ — $ 40,589 $ — Weighted-average remaining lease term (excluding renewal options) - operating leases 47.4 48.1 Weighted-average remaining lease term (excluding renewal options) - finance leases 61.7 64.5 Weighted-average discount rate - operating leases 5.6 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.4 %
Leases	Leases Lessor Accounting The Company’s properties generally were leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2040. Some leases provide for fixed rent renewal terms in addition to market rent renewal terms. Some leases provide the lessee, during the term of the lease, with an option or right of first refusal to purchase the leased property. The Company’s single-tenant net leases generally require the lessee to pay minimum rent and all taxes (including property tax), insurance, maintenance and other operating costs associated with the leased property. The Company's leases typically have escalators that are either based on a stated percentage or an index such as the consumer price index ("CPI"). In addition, most of the Company's leases include nonlease components, such as reimbursement of operating expenses as additional rent, or include the reimbursement of expected operating expenses as part of the lease payment. The Company adopted an accounting policy to combine lease and nonlease components. Rent escalators based on indices and reimbursements of operating expenses that are not included in the lease rate are considered variable lease payments. Variable payments are recognized in the period earned. Lease income for the Company's operating leases recognized for the three and six months ended June 30, 2022 was $140.6 million and $279.1 million, respectively. On March 30, 2022, the Company executed a lease as a ground lessor for a 1.9 acre parcel of land in Texas previously recorded in land held for development. The lease is classified as a sales-type lease under Topic 842 as the present value of lease payments equals or exceeds substantially all of the fair value of the underlying asset. The land value of $1.8 million was reclassified from Land held for development to Other assets. Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of June 30, 2022 were as follows: Dollars in thousands OPERATING 2022 $ 214,083 2023 398,689 2024 326,597 2025 269,308 2026 217,068 2027 and thereafter 566,038 $ 1,991,783 Lessee Accounting As of June 30, 2022, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. As of June 30, 2022, the Company had 108 properties totaling 8.9 million square feet that were held under ground leases. Some of the ground lease renewal terms are based on fixed rent renewal terms and others have market rent renewal terms. These ground leases typically have initial terms of 40 to 99 years with expiration dates through 2119. Any rental increases related to the Company’s ground leases are generally either stated or based on CPI. The Company had 41 prepaid ground leases as of June 30, 2022. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $0.1 million and $0.2 million of the Company’s rental expense for the three months ended June 30, 2022 and 2021, respectively, and $0.3 million for the six months ended June 30, 2022 and 2021, respectively. The Company’s future lease payments (primarily for its 67 non-prepaid ground leases) as of June 30, 2022 were as follows: Dollars in thousands OPERATING FINANCING 2022 $ 2,118 $ 735 2023 5,071 1,654 2024 5,130 1,692 2025 5,174 1,723 2026 5,201 1,749 2027 and thereafter 306,956 368,730 Total undiscounted lease payments 329,650 376,283 Discount (234,902) (314,088) Lease liabilities $ 94,748 $ 62,195 The following table provides details of the Company's total lease expense for the three and six months ended June 30, 2022 and 2021: THREE MONTHS ENDED SIX MONTHS ENDED Dollars in thousands 2022 2021 2022 2021 Operating lease cost Operating lease expense $ 1,194 $ 1,182 $ 2,409 $ 2,360 Variable lease expense 1,038 972 2,062 1,868 Finance lease cost Amortization of right-of-use assets 331 88 503 176 Interest on lease liabilities 765 247 1,052 493 Total lease expense $ 3,328 $ 2,489 $ 6,026 $ 4,897 Other information Operating cash flows outflows related to operating leases $ 1,799 $ 2,587 $ 4,596 $ 4,431 Operating cash flows outflows related to financing leases $ 509 $ — $ 767 $ — Financing cash flows outflows related to financing leases $ — $ 321 $ 51 $ 683 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ — $ 40,589 $ — Weighted-average remaining lease term (excluding renewal options) - operating leases 47.4 48.1 Weighted-average remaining lease term (excluding renewal options) - finance leases 61.7 64.5 Weighted-average discount rate - operating leases 5.6 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.4 %

Notes and Bonds Payable

Notes and Bonds Payable	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Notes and Bonds Payable	Notes and Bonds Payable The table below details the Company’s notes and bonds payable as of June 30, 2022 and 2021. MATURITY DATES BALANCE AS OF EFFECTIVE INTEREST RATE Dollars in thousands 6/30/2022 12/31/2021 $700 million Unsecured Credit Facility 5/23 $ 490,500 $ 210,000 2.69 % $200 million Unsecured Term Loan due 2024, net of issuance costs 1 5/24 199,572 199,460 2.55 % $150 million Unsecured Term Loan due 2026, net of issuance costs 2 6/26 149,447 149,376 2.79 % Senior Notes due 2025, net of discount and issuance costs 3 5/25 249,176 249,040 4.08 % Senior Notes due 2028, net of discount and issuance costs 1/28 296,864 296,612 3.84 % Senior Notes due 2030, net of discount and issuance costs 4 3/30 296,989 296,813 2.71 % Senior Notes due 2031, net of discount and issuance costs 3/31 295,601 295,374 2.24 % Mortgage notes payable, net of discounts and issuance costs and including premiums 8/23-12/26 85,606 104,650 3.97 % $ 2,063,755 $ 1,801,325 1 The effective interest rate includes the impact of interest rate swaps on $75.0 million at a weighted average rate of 2.37% (plus the applicable margin rate, currently 100 basis points). 2 The effective interest rate includes the impact of interest rate swaps on $100.0 million at a weighted average rate of 2.23% (plus the applicable margin rate, currently 95 basis points). 3 The effective interest rate includes the impact of the $1.7 million settlement of forward-starting interest rate swaps that is included in Accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets. 4 The effective interest rate includes the impact of the $4.3 million settlement of forward interest rate hedges that is included in Accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets. Changes in Debt Structure Mortgage payoffs On February 18, 2022, the Company repaid in full a mortgage note payable bearing interest at a rate of 4.70% that encumbered a 56,762 square foot property in California. The aggregate payoff price of $12.6 million consisted of outstanding principal of $11.0 million and a "make-whole" amount of approximately $1.6 million. The unamortized premium of $0.8 million and the unamortized cost on this note of $0.1 million were written off upon payoff. On February 24, 2022, the Company repaid in full a mortgage note payable bearing interest at a rate of 6.17% that encumbered a 80,153 square foot property in Colorado, in conjunction with the disposition of the property. The aggregate payoff price of $6.4 million consisted of outstanding principal of $5.8 million and a "make-whole" amount of approximately $0.6 million. The unamortized premium of $0.1 million was written off upon payoff.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. For derivatives designated, and that qualify, as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income (Loss) ("AOCI") and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. As of June 30, 2022, the Company had eight outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: DERIVATIVE INSTRUMENT NUMBER OF INSTRUMENTS NOTIONAL AMOUNT Interest rate swaps 8 $175.0 Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of the Company's derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheet as of June 30, 2022. BALANCE AT JUNE 30, 2022 In thousands BALANCE SHEET LOCATION FAIR VALUE Derivatives designated as hedging instruments Interest rate swaps 2017, 2018, and 2019 Other assets $ 2,516 Tabular Disclosure of the Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) The table below presents the effect of cash flow hedge accounting on AOCI during the three and six months ended June 30, 2022 and 2021 related to the Company's outstanding interest rate swaps. (GAIN) LOSS RECOGNIZED IN LOSS RECLASSIFIED FROM In thousands 2022 2021 2022 2021 Interest rate swaps $ (1,663) $ 807 Interest expense $ 674 $ 965 Settled treasury hedges — — Interest expense 107 107 Settled interest rate swaps — — Interest expense 42 42 $ (1,663) $ 807 Total interest expense $ 823 $ 1,114 GAIN RECOGNIZED IN LOSS RECLASSIFIED FROM In thousands 2022 2021 2022 2021 Interest rate swaps $ (6,822) $ (2,043) Interest expense $ 1,612 $ 1,912 Settled treasury hedges — — Interest expense 213 213 Settled interest rate swaps — — Interest expense 84 84 $ (6,822) $ (2,043) Total interest expense $ 1,909 $ 2,209 The Company estimates that $1.0 million related to active interest rate swaps will be reclassified from AOCI as a decrease to interest expense over the next 12 months, and that $0.6 million related to settled interest rate swaps will be amortized from AOCI as an increase to interest expense over the next 12 months. Credit-risk-related Contingent Features The Company's agreements with each of its derivative counterparties contain a cross-default provision under which the Company could be declared in default of its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on the indebtedness. As of June 30, 2022, the fair value of derivatives in a net asset position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $2.4 million. As of June 30, 2022, the Company has not posted any collateral related to these agreements and was not in breach of any agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is, from time to time, involved in litigation arising in the ordinary course of business. The Company is not aware of any pending or threatened litigation that, if resolved against the Company, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. Redevelopment Activity During the second quarter of 2022, the Company continued the redevelopment of a 217,114 square foot medical office building in Dallas, Texas. As of June 30, 2022, the Company had funded approximately $10.2 million in project costs. The building continues to operate with in-place leases during construction. The first new tenant lease of the redevelopment commenced in the first quarter of 2022. During the second quarter of 2022, the Company continued the redevelopment of a medical office building in Tacoma, Washington. As of June 30, 2022, the Company had funded approximately $9.5 million in project costs. The redevelopment includes interior and exterior improvements to the existing building, plus the addition of 23,000 square feet. The Company expects the 23,000 square foot tenant lease for the expansion space to commence in the fourth quarter of 2022. During the second quarter of 2022, the Company continued the development of a medical office building in Nashville, Tennessee. The Company began construction of a 106,194 square foot medical office building with the initial tenant lease expected to commence in the third quarter of 2023. As of June 30, 2022, the Company had funded approximately $7.4 million in project costs. The redevelopment includes the demolition of an existing 81,000 square foot medical office building. The Company recognized an impairment charge of $5.0 million related to the existing building in 2021. During the second quarter of 2022, the Company continued redevelopment projects related to the following: • Two medical office buildings totaling 158,338 square feet in Washington, DC. The Company has approved a leasing plan with a capital outlay that is expected to be completed in the first quarter of 2024. As of June 30, 2022, the Company has funded $0.1 million in project costs. • A medical office building totaling 145,365 square feet in Dallas, Texas. The Company has approved a capital and leasing plan that is expected to be completed in the first quarter of 2024. As of June 30, 2022, the Company has funded $0.6 million in project costs. • A medical office building totaling 93,992 square feet in Denver, Colorado that is expected to be a part of a larger redevelopment plan that was initiated in the first quarter of 2022.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2022 and the twelve months ended December 31, 2021: SIX MONTHS ENDED JUNE 30, 2022 TWELVE MONTHS ENDED DECEMBER 31, 2021 Balance, beginning of period 150,457,433 139,487,375 Issuance of common stock 745,483 10,899,301 Non-vested share-based awards, net of withheld shares 434,001 70,757 Balance, end of period 151,636,917 150,457,433 At-The-Market Equity Offering Program On August 6, 2021 and November 5, 2021, the Company entered into equity distribution agreements with 12 investment banks to allow for issuance and sale under its at-the-market equity offering program of up to an aggregate of $750.0 million of common stock. These agreements are no longer in effect following the closing of the Merger on July 20, 2022. The following table details the Company's forward at-the-market activity: WEIGHTED AVERAGE SALE PRICE FORWARD SHARE CONTRACTS SHARES SETTLED SHARES REMAINING TO BE SETTLED NET PROCEEDS Balance at December 31, 2021 $ — — — 727,400 $ — 1Q 2022 $ 31.73 — 727,400 — $ 22.3 2Q 2022 $ — — — — $ — Common Stock Dividends During the six months ended June 30, 2022, the Company declared and paid common stock dividends totaling $0.62 per share. On July 1, 2022, the Company declared a prorated quarterly common stock dividend in the amount of $0.2010 per share payable on July 19, 2022 to stockholders of record on July 14, 2022. The remaining quarterly common stock dividend portion of $0.1090 per share was declared August 2, 2022 and is payable on August 30, 2022 to stockholders of record on August 15, 2022 . Earnings Per Common Share The Company uses the two-class method of computing net earnings per common shares. The Company's non-vested share-based awards are considered participating securities pursuant to the two-class method. During the three and six months ended June 30, 2022, the Company did not enter into any forward sale agreements to sell shares of common stock through the Company's at-the market equity offering program. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2022 and 2021. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, Dollars in thousands, except per share data 2022 2021 2022 2021 Weighted average common shares outstanding Weighted average common shares outstanding 151,620,897 143,700,491 151,230,064 142,142,577 Non-vested shares (1,945,042) (1,783,278) (1,908,652) (1,788,410) Weighted average common shares outstanding - basic 149,675,855 141,917,213 149,321,412 140,354,167 Weighted average common shares outstanding - basic 149,675,855 141,917,213 149,321,412 140,354,167 Dilutive effect of forward equity shares — 61,064 — 27,896 Dilutive effect of employee stock purchase plan 62,694 70,711 75,394 85,714 Weighted average common shares outstanding - diluted 149,738,549 142,048,988 149,396,806 140,467,777 Net Income $ 6,130 $ 23,096 $ 48,357 $ 47,118 Dividends paid on nonvested share-based awards (601) (539) (1,207) (1,080) Net income applicable to common stockholders $ 5,529 $ 22,557 $ 47,150 $ 46,038 Basic earnings per common share - net income $ 0.04 $ 0.16 $ 0.32 $ 0.33 Diluted earnings per common share - net income $ 0.04 $ 0.16 $ 0.32 $ 0.33 Incentive Plans Restricted Common Shares During the six months ended June 30, 2022, the Company made the following stock awards: • During the first quarter of 2022, the Company granted non-vested stock awards to its named executive officers and other members of senior management and employees with a grant date fair value of $13.0 million, which consisted of an aggregate of 415,184 non-vested shares with vesting periods ranging from three eight • During the second quarter of 2022, the Company granted non-vested stock awards to its eight directors with a grant date fair value of $0.8 million, which consisted of an aggregate of 26,840 non-vested shares, with a one A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2022 and 2021 is included in the table below. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2022 2021 2022 2021 Share-based awards, beginning of period 1,951,551 1,786,371 1,562,028 1,766,061 Granted 26,840 37,978 442,024 203,701 Vested (36,682) (46,041) (61,047) (191,454) Forfeited — — (1,296) — Share-based awards, end of period 1,941,709 1,778,308 1,941,709 1,778,308 During the six months ended June 30, 2022 and 2021, the Company withheld 6,727 and 51,972 shares of common stock, respectively, from participants to pay estimated withholding taxes related to shares that vested. Restricted Stock Units Prior to 2022, the Company granted long-term incentive awards, comprised of restricted stock, based on backward-looking performance measured at the end of the calendar year. The Company adopted a new incentive compensation structure effective January 2022, comprised of restricted stock and restricted stock units ("RSUs"). The RSUs are granted at the beginning of the year with three-year forward-looking performance targets. On January 3, 2022, the Company granted restricted stock units to its named executive officers and certain other members of senior management and officers, with a grant date fair value of $9.7 million, which consisted of an aggregate 294,932 RSUs with a five-year vesting period. Approximately 43% of the RSUs vest based on two market performance conditions. Relative and absolute total shareholder return ("TSR") awards containing these market performance conditions were valued using independent specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair values of $30.56 for the absolute TSR component and $41.30 for the relative TSR component for the January 2022 grant using the following assumptions: THREE MONTHS ENDED MARCH 31, Volatility 30.0 % Dividend assumption Accrued Expected term in years 3 years Risk-free rate 1.02 % Stock price (per share) $31.68 The remaining 57% of the restricted stock units vest upon certain operating performance conditions. With respect to the operating performance conditions of the January grant, the grant date fair value was $31.68 based on the Company's share price on the date of grant. The combined weighted average grant date fair value of the January restricted stock units was $33.04 per share. The following is a summary of the RSU activity during the three and six months ended June 30, 2022: THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, Restricted Stock Units Weighted Average Grant Date Fair Value Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested, beginning of period 294,932 — — — Granted — — 294,932 $ 33.04 Vested — — — — Non-vested as of June 30, 2022 294,932 — 294,932 Employee Stock Purchase Plan In addition to the share-based incentive plans, the Company maintains the Employee Stock Purchase Plan. A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2022 and 2021 is included in the table below. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2022 2021 2022 2021 Outstanding and exercisable, beginning of period 427,802 415,299 348,514 341,647 Granted — — 255,960 253,200 Exercised (1,965) (3,012) (12,518) (18,977) Forfeited (20,303) (22,873) (45,789) (42,034) Expired — — (140,633) (144,422) Outstanding and exercisable, end of period 405,534 389,414 405,534 389,414

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practical to estimate that value. • Cash and cash equivalents - The carrying amount approximates fair value due to the short term maturity of these investments. • Borrowings under the Unsecured Credit Facility and the Term Loans Due 2024 and 2026 - The carrying amount approximates fair value because the borrowings are based on variable market interest rates. • Senior Notes and Mortgage Notes payable - The fair value of notes and bonds payable is estimated using cash flow analyses, based on the Company’s current interest rates for similar types of borrowing arrangements. • Interest rate swap agreements - Interest rate swap agreements are recorded in other liabilities on the Company's Condensed Consolidated Balance Sheets at fair value. Fair value is estimated by utilizing pricing models that consider forward yield curves and discount rates. The table below details the fair values and carrying values for notes and bonds payable at June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1 $ 2,063.8 $ 1,955.6 $ 1,801.3 $ 1,797.4 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 20, 2022, pursuant to that certain Agreement and Plan of Merger, dated as of February 28, 2022 (the “Merger Agreement”), by and among Healthcare Realty Trust Incorporated, a Maryland corporation (now known as HRTI, LLC, a Maryland limited liability company) (“Legacy HR” or the "Company"), Healthcare Trust of America, Inc., a Maryland corporation (now known as Healthcare Realty Trust Incorporated) (“Legacy HTA”), Healthcare Trust of America Holdings, LP, a Delaware limited partnership (now known as Healthcare Realty Holdings, L.P.) (the “OP”), and HR Acquisition 2, LLC, a Maryland limited liability company (“Merger Sub”). Pursuant to the Merger Agreement, on the Closing Date, Merger Sub merged with and into Legacy HR, with Legacy HR continuing as the surviving entity and a wholly-owned subsidiary of Legacy HTA (the “Merger”). Immediately following the Merger, Legacy HR converted to a Maryland limited liability company and changed its name to “HRTI, LLC” and Legacy HTA changed its name to “Healthcare Realty Trust Incorporated”. In addition, the equity interests of Legacy HR were contributed by Legacy HTA by means of a contribution and assignment agreement to the OP such that Legacy HR became a wholly-owned subsidiary of the OP. As a result, Legacy HR became a part of an umbrella partnership REIT (“UPREIT”) structure, which is intended to align the corporate structure of the combined company after giving effect to the Merger and the UPREIT reorganization (the “Combined Company”) and to provide a platform for the Combined Company to more efficiently acquire properties in a tax-deferred manner. The Combined Company operates under the name “Healthcare Realty Trust Incorporated” and its shares of class A common stock, $0.01 par value per share, trade on the New York Stock Exchange (the “NYSE”) under the ticker symbol “HR”. Executive Officers and Directors The executive officers of the Company immediately preceding the Merger serve as the executive officers of the Combined Company. The board of directors of the Combined Company is comprised of all nine directors from the Company's board and four directors from HTA’s board. Exchange Offer In connection with the Merger, the OP offered to exchange all validly tendered and accepted notes of each series previously issued by Legacy HR (the “Old HR Notes”) for (i) up to $250,000,000 of 3.875% Senior Notes due 2025 (the “2025 Notes”), (ii) up to $300,000,000 of 3.625% Senior Notes due 2028 (the “2028 Notes”), (iii) up to $300,000,000 of 2.400% Senior Notes due 2030 (the “2030 Notes”) and (iv) up to $300,000,000 of 2.050% Senior Notes due 2031 to be issued by the OP (the “2031 Notes” and, collectively, the “New HR Notes”) and solicited consents from holders of the Old HR Notes to amend the indenture governing the Old HR Notes to eliminate substantially all of the restrictive covenants in such indenture (the “Exchange Offers”). The New HR Notes were issued pursuant to an indenture dated July 22, 2022, among the OP, Legacy HTA and U.S. Bank Trust Company, National Association, as trustee, as supplemented by the first supplemental indenture, dated as of July 22, 2022, the second supplemental indenture, dated as of July 22, 2022, the third supplemental indenture, dated as of July 22, 2022 and the fourth supplemental indenture, dated as of July 22, 2022. Legacy HTA guaranteed the New HR Notes pursuant to (i) a guarantee of the 2025 Notes, (ii) a guarantee of the 2028 Notes, (iii) a guarantee of the 2030 Notes, and (iv) a guarantee of the 2031 Notes, each dated July 22, 2022. Legacy HTA and the OP filed a registration statement on Form S-4 (File No. 333-265593) relating to the issuance of the New HR Notes with the Securities and Exchange Commission (the “SEC”) on June 14, 2022, which was declared effective by the SEC on June 28, 2022. The following sets forth the results of the Exchange Offers: Series of Old HR Notes Tenders and Consents Received as of the Expiration Date Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes 3.875 % Senior Notes due 2025 $235,016,000 94.01 % 3.625 % Senior Notes due 2028 $290,246,000 96.75 % 2.400 % Senior Notes due 2030 $297,507,000 99.17 % 2.050 % Senior Notes due 2031 $298,858,000 99.62 % Credit Facilities In connection with the effectiveness of the Merger, Legacy HR (in a limited capacity), Legacy HTA and the OP entered into the Fourth Amended and Restated Credit and Term Loan Agreement (the “Credit Facility”) with Wells Fargo Bank, National Association, as Administrative Agent; Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., and Citibank, N.A., as Joint Book Runners; Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., U.S. Bank National Association, Citibank, N.A., The Bank of Nova Scotia, Capital One, National Association, U.S. Bank National Association, and PNC Capital Markets LLC, as Joint Lead Arrangers; and the other lenders named therein. The Credit Facility restructures the parties’ existing bank facilities and adds additional borrowing capacities for the Combined Company following the Merger. The OP is the borrower under the Credit Facility (in such capacity, the “Borrower”). • Legacy HR’s existing $700.0 million revolving credit facility under the Amended and Restated Credit Agreement, dated as of May 31, 2019 (as amended, restated, replaced, supplemented, or otherwise modified from time to time prior to July 20, 2022, the “Existing HR Revolving Credit Agreement”), by and among Legacy HR, the lenders party thereto from time to time and their assignees, as lenders, and Wells Fargo Bank, National Association, as the administrative agent (the “WF Administrative Agent”), was terminated, all outstanding obligations in respect thereof were deemed paid in full and all commitments thereunder were permanently reduced to zero and terminated. • Legacy HR’s existing $200.0 million term loan facility and existing $150.0 million term loan facility under the Amended and Restated Term Loan Agreement, dated as of May 31, 2019 (as amended, restated, replaced, supplemented, or otherwise modified from time to time prior to July 20, 2022, the “Existing HR Term Loan Agreement”), by and among Legacy HR, the lenders party thereto from time to time and their assignees, as lenders, and the WF Administrative Agent, in each, case, were deemed continued and assumed by the Borrower under the Credit Facility, and the Existing HR Term Loan Agreement was terminated. ◦ The existing $200.0 million term loan facility was amended to: (a) conform to the terms of the Borrower’s other term loan facilities under the Credit Facility; (b) include two one-year extension options, resulting in a latest final maturity in May 2026; and (c) reprice to align with the pricing for the Borrower’s other term loan facilities under the Credit Facility; and ◦ The existing $150.0 million term loan facility was amended to conform to the terms of the Borrower’s other term loan facilities under the Credit Facility, and the existing maturity in June 2026 remains unchanged under the Credit Facility. • Legacy HTA’s and the OP’s existing $1.0 billion revolving credit facility was upsized to $1.5 billion (the “Revolver”) pursuant to the Credit Facility. The Revolver currently matures in October 2025, and the Credit Facility adds an additional one-year extension option for the Revolver, for a total of two one-year extension options. • Legacy HTA’s and the OP’s existing $300.0 million term loan facility was deemed continued pursuant to the Credit Facility and was amended to conform to the terms of the Borrower’s other term loan facilities under the Credit Facility. The existing maturity in October 2025 remains unchanged under the Credit Facility. • Legacy HTA’s and the OP’s existing $200.0 million term loan facility was deemed continued pursuant to the Credit Facility and was amended to (a) conform to the terms of the Borrower’s other term loan facilities under the Credit Facility; (b) extend the maturity from January 2024 to July 20, 2027; and (c) reprice to align with the pricing for the Borrower’s other term loan facilities under the Credit Facility. • The Credit Facility provides for a new $350.0 million delayed-draw term loan facility that is available to be drawn for 12 months after July 20, 2022 and has an initial maturity date of July 20, 2023, with two one-year extension options. The terms of any delayed draw term loans funded thereunder conform to the terms of the Borrower’s other term loan facilities under the Credit Facility, and the pricing for such delayed draw term loans aligns with the pricing for the Borrower’s other term loan facilities under the Credit Facility. • The Credit Facility provides for a new $300.0 million term loan facility that was funded on July 20, 2022 and has a maturity of January 20, 2028, with no extension options. The terms of such term loan facility conform to the terms of the Borrower’s other term loan facilities under the Credit Facility, and the pricing for such term loan facility aligns with the pricing for the Borrower’s other term loan facilities under the Credit Facility. Special Dividend On May 13, 2022, Legacy HTA entered into a new $1.125 billion term loan agreement to fund the special dividend pursuant to the terms of the Merger Agreement. Prior to the Merger, Legacy HTA drew against the term loan to fund the special dividend of $4.82 that was declared on July 6, 2022 for shareholders of record on July 19, 2022. The special dividend was paid to all Legacy HTA shareholders on July 27, 2022. The Company plans to repay the term loan with proceeds from asset sales and joint ventures. As of the date of this report, the Company has closed on $433 million in joint ventures and asset sales. The remainder is expected to close in the third quarter of 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Business overview	Business OverviewHealthcare Realty Trust Incorporated is a real estate investment trust ("REIT") that owns, leases, manages, acquires, finances, develops and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. References to the Company in these Notes to the Condensed Consolidated Financial Statements are to Legacy HR as the "accounting acquiror" in the Merger defined and described in more detail in Note 9 to these Condensed Consolidated Financial Statements. As of June 30, 2022, the Company had gross investments of approximately $5.4 billion in 255 real estate properties, construction in progress, redevelopments, financing receivables, financing lease right-of-use assets, land held for development and corporate property. The Company's 255 real estate properties are located in 23 states and total approximately 17.2 million square feet. The Company provided leasing and property management services to approximately 15.4 million square feet nationwide. The Company owns 50% of an unconsolidated joint venture with Teachers Insurance and Annuity Association (the "TIAA Joint Venture") and earns certain fees as the managing member. As of June 30, 2022, the TIAA Joint Venture owned 21 real estate properties. See Note 2 for more details regarding the Company's unconsolidated joint ventures. Any references to square footage or occupancy percentage, and any amounts derived from these values in these notes to the Company's Condensed Consolidated Financial Statements, are outside the scope of our independent registered public accounting firm’s review.
Basis of presentation	Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, management believes there has been no material change in the information disclosed in the Notes to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. All material intercompany transactions and balances have been eliminated in consolidation. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. In addition, the interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2022 for many reasons including, but not limited to, the Merger (as discussed in more detail in Note 9 below), acquisitions, dispositions, capital financing transactions, changes in interest rates and the effects of other trends, risks and uncertainties.
Principles of consolidation	Principles of ConsolidationThe Company’s Condensed Consolidated Financial Statements include, as of June 30, 2022, the accounts of the Company, its wholly owned subsidiaries, and joint ventures and partnerships where the Company controls the operating activities.
Variable Interest Entities	GAAP requires us to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). Accounting Standards Codification 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is the VIE’s primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis.For property holding entities not determined to be VIEs, the Company consolidates such entities in which it owns 100% of the equity or has a controlling financial interest evidenced by ownership of a majority voting interest. All intercompany balances and transactions are eliminated in consolidation. For any entity in which the Company owns less than 100% of the equity interest, the Company consolidates the entity if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. As of June 30, 2022, the Company's unconsolidated joint venture arrangements were accounted for using the equity method of accounting as the Company exercised significant influence over but did not control these entities.
Use of estimates in the condensed consolidated financial statements	Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates.
Investments in Leases - Financing Receivables, Net	Investments in Leases - Financing Receivables, Net In accordance with Accounting Standards Codification ("ASC") 842, for transactions in which the Company enters into a contract to acquire an asset and leases it back to the seller (i.e., a sale leaseback transaction), control of the asset is not considered to have transferred when the seller-lessee has a purchase option. As a result, the Company does not recognize the underlying real estate asset but instead recognizes a financial asset in accordance with ASC 310 “Receivables”. During the first quarter of 2022, the Company reclassified the two medical office buildings in Nashville, Tennessee that were acquired in separate sale-leaseback transactions in the fourth quarter of 2021. The leases with the sellers commenced in the first quarter, which resulted in the allocation of the financing receivable totaling $73.9 million to land and building and improvements. Income from Lease Financing Receivables The Company recognizes the related income from the financing receivable based on an imputed interest rate over the terms of the applicable lease. As a result, the interest recognized from the financing receivable will not equal the cash payments from the lease agreement. Acquisition costs incurred in connection with entering into the financing receivable are treated as loan origination fees. These costs are classified with the financing receivable and are included in the balance of the net investment. Amortization of these amounts will be recognized as a reduction to Income from financing receivable, net over the life of the lease.
Revenue from contract with customers (topic 606)	Revenue from Contracts with Customers (Topic 606) The Company recognizes certain revenue under the core principle of Topic 606. This topic requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Lease revenue is not within the scope of Topic 606. To achieve the core principle, the Company applies the five step model specified in the guidance.
New accounting pronouncements	New Accounting Pronouncements Accounting Standards Update No. 2020-04 On March 12, 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Disaggregation of revenue	Below is a detail of the amounts by category: THREE MONTHS ENDED SIX MONTHS ENDED in thousands 2022 2021 2022 2021 Type of Revenue Parking income $ 1,919 $ 1,880 $ 3,672 $ 3,538 Management fee income 1 783 419 1,438 658 Miscellaneous 36 128 103 182 $ 2,738 $ 2,427 $ 5,213 $ 4,378

Real Estate Investments (Tables

Real Estate Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Summary of Acquisitions	The following table details the Company's acquisitions for the six months ended June 30, 2022: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL ESTATE 2 OTHER 3 SQUARE FOOTAGE Dallas, TX 2/11/22 $ 8,175 $ 8,185 $ 8,202 $ (17) 18,000 San Francisco, CA 4 3/7/22 114,000 112,986 108,687 4,299 166,396 Atlanta, GA 4/7/22 6,912 7,054 7,178 (124) 21,535 Denver, CO 4/13/22 6,320 5,254 5,269 (15) 12,207 Colorado Springs, CO 5 4/13/22 13,680 13,686 13,701 (15) 25,800 Seattle, WA 4/28/22 8,350 8,334 8,370 (36) 13,256 Houston, TX 4/28/22 36,250 36,299 36,816 (517) 76,781 Los Angeles, CA 4/29/22 35,000 35,242 25,400 9,842 34,282 Oklahoma City, OK 4/29/22 11,100 11,259 11,334 (75) 34,944 Raleigh, NC 4 5/31/22 27,500 26,710 27,127 (417) 85,113 Tampa, FL 5 6/9/22 18,650 18,619 18,212 407 55,788 Total real estate acquisitions $ 285,937 $ 283,628 $ 270,296 $ 13,332 544,102 1 Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition. 2 Excludes financing right of use assets. 3 Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition. 4 Includes three properties. 5 Includes two properties. Subsequent to June 30, 2022 and unrelated to the Merger, the Company acquired the following property: Dollars in thousands DATE ACQUIRED PURCHASE PRICE SQUARE FOOTAGE Seattle, WA 8/1/22 $ 4,850 10,593
Schedule of joint venture transactions	The following table details the TIAA Joint Venture acquisitions for the six months ended June 30, 2022: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL OTHER 2 SQUARE FOOTAGE COMPANY OWNERSHIP % San Francisco, CA 3 3/7/22 $ 67,175 $ 66,789 $ 65,179 $ 1,610 110,865 50 % Los Angeles, CA 4 3/7/22 33,800 32,384 32,390 (6) 103,259 50 % Total real estate acquisitions $ 100,975 $ 99,173 $ 97,569 $ 1,604 214,124 1 Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition. 2 Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition. 3 Includes three properties. 4 Includes two properties.
Schedule of equity method investments	The Company's investment in and loss recognized for the three and six months ended June 30, 2022 and 2021 related to its joint ventures accounted for under the equity method are shown in the table below: THREE MONTHS ENDED SIX MONTHS ENDED Dollars in thousands 2022 2021 2022 2021 Investments in unconsolidated joint ventures, beginning of period 1 $ 211,195 $ 83,943 $ 161,942 $ 73,137 New investments during the period — 34,138 49,599 45,018 Equity loss recognized during the period 1 (307) (146) (652) (220) Owner Distributions (107) — (108) — Investments in unconsolidated joint ventures, end of period 1 $ 210,781 $ 117,935 $ 210,781 $ 117,935 1 In addition to the TIAA Joint Venture, the Company also has a 55% and 27% ownership interest, respectively, in two limited liability companies that each own a parking garage in Atlanta, Georgia.
Real estate dispositions	The following table details the Company's dispositions for the six months ended June 30, 2022: Dollars in millions DATE DISPOSED SALE PRICE CLOSING ADJUSTMENTS NET PROCEEDS NET REAL ESTATE INVESTMENT OTHER (INCLUDING RECEIVABLES) 1 GAIN/(IMPAIRMENT) SQUARE FOOTAGE Loveland, CO 2 2/24/22 $ 84,950 $ (45) $ 84,905 $ 40,095 $ 4 $ 44,806 150,291 San Antonio, TX 2 4/15/22 25,500 (2,272) 23,228 14,381 284 8,563 201,523 Total dispositions $ 110,450 $ (2,317) $ 108,133 $ 54,476 $ 288 $ 53,369 351,814 1 Includes straight-line rent receivables, leasing commissions and lease inducements. 2 Includes two properties.
Schedule of assets and liabilities held for sale	The table below reflects the assets and liabilities of the properties classified as held for sale as of June 30, 2022 and December 31, 2021: Dollars in thousands June 30, 2022 December 31, 2021 Other assets, net $ — $ 57 Assets held for sale, net $ — $ 57 Accounts payable and accrued liabilities $ — $ 169 Other liabilities — 125 Liabilities of assets held for sale $ — $ 294

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Future Minimum Operating Lease Payments Receivable	Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of June 30, 2022 were as follows: Dollars in thousands OPERATING 2022 $ 214,083 2023 398,689 2024 326,597 2025 269,308 2026 217,068 2027 and thereafter 566,038 $ 1,991,783
Future Minimum Operating Lease Payments	The Company’s future lease payments (primarily for its 67 non-prepaid ground leases) as of June 30, 2022 were as follows: Dollars in thousands OPERATING FINANCING 2022 $ 2,118 $ 735 2023 5,071 1,654 2024 5,130 1,692 2025 5,174 1,723 2026 5,201 1,749 2027 and thereafter 306,956 368,730 Total undiscounted lease payments 329,650 376,283 Discount (234,902) (314,088) Lease liabilities $ 94,748 $ 62,195
Future Minimum Financing Lease Payments	The Company’s future lease payments (primarily for its 67 non-prepaid ground leases) as of June 30, 2022 were as follows: Dollars in thousands OPERATING FINANCING 2022 $ 2,118 $ 735 2023 5,071 1,654 2024 5,130 1,692 2025 5,174 1,723 2026 5,201 1,749 2027 and thereafter 306,956 368,730 Total undiscounted lease payments 329,650 376,283 Discount (234,902) (314,088) Lease liabilities $ 94,748 $ 62,195
Lease Cost	The following table provides details of the Company's total lease expense for the three and six months ended June 30, 2022 and 2021: THREE MONTHS ENDED SIX MONTHS ENDED Dollars in thousands 2022 2021 2022 2021 Operating lease cost Operating lease expense $ 1,194 $ 1,182 $ 2,409 $ 2,360 Variable lease expense 1,038 972 2,062 1,868 Finance lease cost Amortization of right-of-use assets 331 88 503 176 Interest on lease liabilities 765 247 1,052 493 Total lease expense $ 3,328 $ 2,489 $ 6,026 $ 4,897 Other information Operating cash flows outflows related to operating leases $ 1,799 $ 2,587 $ 4,596 $ 4,431 Operating cash flows outflows related to financing leases $ 509 $ — $ 767 $ — Financing cash flows outflows related to financing leases $ — $ 321 $ 51 $ 683 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ — $ 40,589 $ — Weighted-average remaining lease term (excluding renewal options) - operating leases 47.4 48.1 Weighted-average remaining lease term (excluding renewal options) - finance leases 61.7 64.5 Weighted-average discount rate - operating leases 5.6 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.4 %

Notes and Bonds Payable (Tables

Notes and Bonds Payable (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of debt	The table below details the Company’s notes and bonds payable as of June 30, 2022 and 2021. MATURITY DATES BALANCE AS OF EFFECTIVE INTEREST RATE Dollars in thousands 6/30/2022 12/31/2021 $700 million Unsecured Credit Facility 5/23 $ 490,500 $ 210,000 2.69 % $200 million Unsecured Term Loan due 2024, net of issuance costs 1 5/24 199,572 199,460 2.55 % $150 million Unsecured Term Loan due 2026, net of issuance costs 2 6/26 149,447 149,376 2.79 % Senior Notes due 2025, net of discount and issuance costs 3 5/25 249,176 249,040 4.08 % Senior Notes due 2028, net of discount and issuance costs 1/28 296,864 296,612 3.84 % Senior Notes due 2030, net of discount and issuance costs 4 3/30 296,989 296,813 2.71 % Senior Notes due 2031, net of discount and issuance costs 3/31 295,601 295,374 2.24 % Mortgage notes payable, net of discounts and issuance costs and including premiums 8/23-12/26 85,606 104,650 3.97 % $ 2,063,755 $ 1,801,325 1 The effective interest rate includes the impact of interest rate swaps on $75.0 million at a weighted average rate of 2.37% (plus the applicable margin rate, currently 100 basis points). 2 The effective interest rate includes the impact of interest rate swaps on $100.0 million at a weighted average rate of 2.23% (plus the applicable margin rate, currently 95 basis points). 3 The effective interest rate includes the impact of the $1.7 million settlement of forward-starting interest rate swaps that is included in Accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)	As of June 30, 2022, the Company had eight outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: DERIVATIVE INSTRUMENT NUMBER OF INSTRUMENTS NOTIONAL AMOUNT Interest rate swaps 8 $175.0 The table below presents the effect of cash flow hedge accounting on AOCI during the three and six months ended June 30, 2022 and 2021 related to the Company's outstanding interest rate swaps. (GAIN) LOSS RECOGNIZED IN LOSS RECLASSIFIED FROM In thousands 2022 2021 2022 2021 Interest rate swaps $ (1,663) $ 807 Interest expense $ 674 $ 965 Settled treasury hedges — — Interest expense 107 107 Settled interest rate swaps — — Interest expense 42 42 $ (1,663) $ 807 Total interest expense $ 823 $ 1,114 GAIN RECOGNIZED IN LOSS RECLASSIFIED FROM In thousands 2022 2021 2022 2021 Interest rate swaps $ (6,822) $ (2,043) Interest expense $ 1,612 $ 1,912 Settled treasury hedges — — Interest expense 213 213 Settled interest rate swaps — — Interest expense 84 84 $ (6,822) $ (2,043) Total interest expense $ 1,909 $ 2,209
Schedule of derivative instruments in statement of financial position, fair value	The table below presents the fair value of the Company's derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheet as of June 30, 2022. BALANCE AT JUNE 30, 2022 In thousands BALANCE SHEET LOCATION FAIR VALUE Derivatives designated as hedging instruments Interest rate swaps 2017, 2018, and 2019 Other assets $ 2,516

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Reconciliation of common stock outstanding	The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2022 and the twelve months ended December 31, 2021: SIX MONTHS ENDED JUNE 30, 2022 TWELVE MONTHS ENDED DECEMBER 31, 2021 Balance, beginning of period 150,457,433 139,487,375 Issuance of common stock 745,483 10,899,301 Non-vested share-based awards, net of withheld shares 434,001 70,757 Balance, end of period 151,636,917 150,457,433
At-the-market activity	The following table details the Company's forward at-the-market activity: WEIGHTED AVERAGE SALE PRICE FORWARD SHARE CONTRACTS SHARES SETTLED SHARES REMAINING TO BE SETTLED NET PROCEEDS Balance at December 31, 2021 $ — — — 727,400 $ — 1Q 2022 $ 31.73 — 727,400 — $ 22.3 2Q 2022 $ — — — — $ —
Earnings (loss) per share	The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2022 and 2021. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, Dollars in thousands, except per share data 2022 2021 2022 2021 Weighted average common shares outstanding Weighted average common shares outstanding 151,620,897 143,700,491 151,230,064 142,142,577 Non-vested shares (1,945,042) (1,783,278) (1,908,652) (1,788,410) Weighted average common shares outstanding - basic 149,675,855 141,917,213 149,321,412 140,354,167 Weighted average common shares outstanding - basic 149,675,855 141,917,213 149,321,412 140,354,167 Dilutive effect of forward equity shares — 61,064 — 27,896 Dilutive effect of employee stock purchase plan 62,694 70,711 75,394 85,714 Weighted average common shares outstanding - diluted 149,738,549 142,048,988 149,396,806 140,467,777 Net Income $ 6,130 $ 23,096 $ 48,357 $ 47,118 Dividends paid on nonvested share-based awards (601) (539) (1,207) (1,080) Net income applicable to common stockholders $ 5,529 $ 22,557 $ 47,150 $ 46,038 Basic earnings per common share - net income $ 0.04 $ 0.16 $ 0.32 $ 0.33 Diluted earnings per common share - net income $ 0.04 $ 0.16 $ 0.32 $ 0.33
Summary of the activity under the incentive plan and restricted stock unit	A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2022 and 2021 is included in the table below. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2022 2021 2022 2021 Share-based awards, beginning of period 1,951,551 1,786,371 1,562,028 1,766,061 Granted 26,840 37,978 442,024 203,701 Vested (36,682) (46,041) (61,047) (191,454) Forfeited — — (1,296) — Share-based awards, end of period 1,941,709 1,778,308 1,941,709 1,778,308 The following is a summary of the RSU activity during the three and six months ended June 30, 2022: THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, Restricted Stock Units Weighted Average Grant Date Fair Value Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested, beginning of period 294,932 — — — Granted — — 294,932 $ 33.04 Vested — — — — Non-vested as of June 30, 2022 294,932 — 294,932
Schedule of stock options, valuation assumptions	THREE MONTHS ENDED MARCH 31, Volatility 30.0 % Dividend assumption Accrued Expected term in years 3 years Risk-free rate 1.02 % Stock price (per share) $31.68
Summary of employee stock purchase plan activity	A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2022 and 2021 is included in the table below. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2022 2021 2022 2021 Outstanding and exercisable, beginning of period 427,802 415,299 348,514 341,647 Granted — — 255,960 253,200 Exercised (1,965) (3,012) (12,518) (18,977) Forfeited (20,303) (22,873) (45,789) (42,034) Expired — — (140,633) (144,422) Outstanding and exercisable, end of period 405,534 389,414 405,534 389,414

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value and carrying values for notes and bonds payable, mortgage notes receivable, and notes receivable	The table below details the fair values and carrying values for notes and bonds payable at June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1 $ 2,063.8 $ 1,955.6 $ 1,801.3 $ 1,797.4 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Schedule of Debt Exchange Offers	The following sets forth the results of the Exchange Offers: Series of Old HR Notes Tenders and Consents Received as of the Expiration Date Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes 3.875 % Senior Notes due 2025 $235,016,000 94.01 % 3.625 % Senior Notes due 2028 $290,246,000 96.75 % 2.400 % Senior Notes due 2030 $297,507,000 99.17 % 2.050 % Senior Notes due 2031 $298,858,000 99.62 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) ft² in Millions, $ in Millions	Jun. 30, 2022 USD ($) ft² property building state	Dec. 31, 2021 building
Business Overview:
Gross investment amount, total | $	$ 5,400
Number of real estate properties | property	255
Number of states that the company owns real estate in, whole units | state	23
Approximate square feet invested in by company | ft²	17.2
Approximate square feet for which Nationwide property management services provided by company | ft²	15.4
Joint venture ownership (percent)	50%
Number of buildings owned by joint venture with TIAA | building	21
Equity ownership for consolidation (percent)	100%
Nashville, Tennessee | Medical office building
Leases [Abstract]
Number of buildings acquired in sale leaseback transactions | building		2
Buildings acquired in sale leaseback transactions | $	$ 73.9

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Type of Revenue	$ 2,738	$ 2,427	$ 5,213	$ 4,378
Parking income
Disaggregation of Revenue [Line Items]
Type of Revenue	1,919	1,880	3,672	3,538
Management fee income
Disaggregation of Revenue [Line Items]
Type of Revenue	783	419	1,438	658
Miscellaneous
Disaggregation of Revenue [Line Items]
Type of Revenue	$ 36	$ 128	$ 103	$ 182

Real Estate Investments - Acqui

Real Estate Investments - Acquisitions (Details) $ in Thousands										6 Months Ended
	Aug. 01, 2022 USD ($) ft²	Jun. 09, 2022 USD ($) ft² property	May 31, 2022 USD ($) ft² property	Apr. 29, 2022 USD ($) ft² property	Apr. 28, 2022 USD ($) ft²	Apr. 13, 2022 USD ($) ft² property	Apr. 07, 2022 USD ($) ft²	Mar. 07, 2022 USD ($) ft² property	Feb. 11, 2022 USD ($) ft²	Jun. 30, 2022 USD ($) ft²
Total real estate acquisitions
Business Acquisition [Line Items]
Purchase price										$ 285,937
Cash consideration										283,628
Real estate										270,296
Other										$ 13,332
Square footage | ft²										544,102
Dallas, TX
Business Acquisition [Line Items]
Purchase price									$ 8,175
Cash consideration									8,185
Real estate									8,202
Other									$ (17)
Square footage | ft²									18,000
San Francisco, CA
Business Acquisition [Line Items]
Purchase price								$ 114,000
Cash consideration								112,986
Real estate								108,687
Other								$ 4,299
Square footage | ft²								166,396
Number of properties acquired | property								3
Atlanta, GA
Business Acquisition [Line Items]
Purchase price							$ 6,912
Cash consideration							7,054
Real estate							7,178
Other							$ (124)
Square footage | ft²							21,535
Denver, CO
Business Acquisition [Line Items]
Purchase price						$ 6,320
Cash consideration						5,254
Real estate						5,269
Other						$ (15)
Square footage | ft²						12,207
Colorado Springs, CO
Business Acquisition [Line Items]
Purchase price						$ 13,680
Cash consideration						13,686
Real estate						13,701
Other						$ (15)
Square footage | ft²						25,800
Number of properties acquired | property						2
Seattle, WA
Business Acquisition [Line Items]
Purchase price					$ 8,350
Cash consideration					8,334
Real estate					8,370
Other					$ (36)
Square footage | ft²					13,256
Seattle, WA | Subsequent event
Business Acquisition [Line Items]
Purchase price	$ 4,850
Square footage | ft²	10,593
Houston, TX
Business Acquisition [Line Items]
Purchase price					$ 36,250
Cash consideration					36,299
Real estate					36,816
Other					$ (517)
Square footage | ft²					76,781
Los Angeles, California
Business Acquisition [Line Items]
Purchase price				$ 35,000
Cash consideration				35,242
Real estate				25,400
Other				$ 9,842
Square footage | ft²				34,282
Number of properties acquired | property				2
Oklahoma City, OK
Business Acquisition [Line Items]
Purchase price				$ 11,100
Cash consideration				11,259
Real estate				11,334
Other				$ (75)
Square footage | ft²				34,944
Raleigh, NC
Business Acquisition [Line Items]
Purchase price			$ 27,500
Cash consideration			26,710
Real estate			27,127
Other			$ (417)
Square footage | ft²			85,113
Number of properties acquired | property			3
Tampa, FL
Business Acquisition [Line Items]
Purchase price		$ 18,650
Cash consideration		18,619
Real estate		18,212
Other		$ 407
Square footage | ft²		55,788
Number of properties acquired | property		2

Real Estate Investments - Uncon

Real Estate Investments - Unconsolidated Joint Venture Acquisitions (Details) $ in Thousands			3 Months Ended		6 Months Ended
	Apr. 29, 2022 property	Mar. 07, 2022 USD ($) ft² property	Jun. 30, 2022 USD ($) ft²	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) ft² property	Jun. 30, 2021 USD ($)
Real Estate [Line Items]
Joint venture ownership (percent)			50%		50%
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period					$ 161,942
Equity loss recognized during the period			$ (307)	$ (146)	(652)	$ (220)
Net LLC investments at the end of the period			210,781		210,781
San Francisco, CA
Real Estate [Line Items]
Number of properties acquired | property		3
Los Angeles, California
Real Estate [Line Items]
Number of properties acquired | property	2
Medical office building
Real Estate [Line Items]
Purchase Price			100,975		100,975
Cash Consideration					99,173
Real Estate			97,569		97,569
Other			$ 1,604		$ 1,604
Square Footage | ft²			214,124		214,124
Medical office building | San Francisco, CA
Real Estate [Line Items]
Purchase Price		$ 67,175
Cash Consideration		66,789
Real Estate		65,179
Other		$ 1,610
Square Footage | ft²		110,865
Joint venture ownership (percent)		50%
Number of properties acquired | property		3
Medical office building | Los Angeles, California
Real Estate [Line Items]
Purchase Price		$ 33,800
Cash Consideration		32,384
Real Estate		32,390
Other		$ (6)
Square Footage | ft²		103,259
Joint venture ownership (percent)		50%
Number of properties acquired | property		2
Parking Garages
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period			$ 211,195	83,943	$ 161,942	73,137
New investments during the period			0	34,138	49,599	45,018
Equity loss recognized during the period			(307)	(146)	(652)	(220)
Owner Distributions			(107)	0	(108)	0
Net LLC investments at the end of the period			$ 210,781	$ 117,935	$ 210,781	$ 117,935
Parking Garages | Atlanta, GA
Real Estate [Line Items]
Number of limited liability companies | property					2
Parking Garages | Atlanta, GA | Limited Liability Company One
Real Estate [Line Items]
Ownership interest in LLC (percent)					55%
Parking Garages | Atlanta, GA | Limited Liability Company Two
Real Estate [Line Items]
Ownership interest in LLC (percent)					27%

Real Estate Investments - Dispo

Real Estate Investments - Dispositions (Details) $ in Thousands			6 Months Ended
	Apr. 15, 2022 USD ($) ft² property	Feb. 24, 2022 USD ($) ft² property	Jun. 30, 2022 USD ($) ft²
Real Estate Dispositions
Real Estate Dispositions [Line Items]
SALE PRICE			$ 110,450
CLOSING ADJUSTMENTS			(2,317)
NET PROCEEDS			108,133
NET REAL ESTATE INVESTMENT			54,476
Other (including receivables)			288
GAIN/(IMPAIRMENT)			$ 53,369
SQUARE FOOTAGE | ft²			351,814
Loveland, CO
Real Estate Dispositions [Line Items]
SALE PRICE		$ 84,950
CLOSING ADJUSTMENTS		45
NET PROCEEDS		84,905
NET REAL ESTATE INVESTMENT		40,095
Other (including receivables)		4
GAIN/(IMPAIRMENT)		$ 44,806
SQUARE FOOTAGE | ft²		150,291
Number of properties acquired | property		2
San Antonio, TX
Real Estate Dispositions [Line Items]
SALE PRICE	$ 25,500
CLOSING ADJUSTMENTS	2,272
NET PROCEEDS	23,228
NET REAL ESTATE INVESTMENT	14,381
Other (including receivables)	284
GAIN/(IMPAIRMENT)	$ 8,563
SQUARE FOOTAGE | ft²	201,523
Number of properties acquired | property	2

Real Estate Investments - Asset

Real Estate Investments - Assets Held for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	$ 0	$ 57
Liabilities of assets held for sale	0	294
Disposal Group, Held-for-sale, Not Discontinued Operations
Long Lived Assets Held-for-sale [Line Items]
Other assets, net	0	57
Assets held for sale, net	0	57
Accounts payable and accrued liabilities	0	169
Other liabilities	0	125
Liabilities of assets held for sale	$ 0	$ 294

Leases - Lease Income (Details)

Leases - Lease Income (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 30, 2022 USD ($) a
Lessee, Lease, Description [Line Items]
Rental income	$ 140,632	$ 128,486	$ 279,121	$ 256,874
Land held for development to other assets					$ 1,800
Texas | Land Held For Devlopment
Lessee, Lease, Description [Line Items]
Joint venture, adjacent land parcel (acres) | a					1.9

Leases - Lessor Accounting (Det

Leases - Lessor Accounting (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Future Operating Lease Payments Receivable [Abstract]
2022	$ 214,083
2023	398,689
2024	326,597
2025	269,308
2026	217,068
2027 and thereafter	566,038
Total	$ 1,991,783

Leases - Ground Leases (Details

Leases - Ground Leases (Details) ft² in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) property lease	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) ft² property lease	Jun. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Number of properties subject to ground leases | property	108		108
Square feet subject to ground leases | ft²			8.9
Number of prepaid ground leases			41
Amortization of prepaid rent | $	$ 0.1	$ 0.2	$ 0.3	$ 0.3
Number of non-prepaid ground leases	67		67
Minimum
Lessee, Lease, Description [Line Items]
Ground lease, initial term	40 years		40 years
Maximum
Lessee, Lease, Description [Line Items]
Ground lease, initial term	99 years		99 years

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
OPERATING
2022	$ 2,118
2023	5,071
2024	5,130
2025	5,174
2026	5,201
2027 and thereafter	306,956
Total undiscounted lease payments	329,650
Discount	(234,902)
Lease liabilities	94,748	$ 96,138
FINANCING
2022	735
2023	1,654
2024	1,692
2025	1,723
2026	1,749
2027 and thereafter	368,730
Total undiscounted lease payments	376,283
Discount	(314,088)
Lease liabilities	$ 62,195	$ 22,551

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating lease cost
Operating lease expense	$ 1,194	$ 1,182	$ 2,409	$ 2,360
Variable lease expense	1,038	972	2,062	1,868
Finance lease cost
Amortization of right-of-use assets	331	88	503	176
Interest on lease liabilities	765	247	1,052	493
Total lease expense	3,328	2,489	6,026	4,897
Other information
Operating cash flows outflows related to operating leases	1,799	2,587	4,596	4,431
Operating cash flows outflows related to financing leases	509	0	767	0
Financing cash flows outflows related to financing leases	0	321	51	683
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 0	$ 0	$ 40,589	$ 0
Weighted-average remaining lease term (excluding renewal options) - operating leases	47 years 4 months 24 days	48 years 1 month 6 days	47 years 4 months 24 days	48 years 1 month 6 days
Weighted-average remaining lease term (excluding renewal options) - finance leases	61 years 8 months 12 days	64 years 6 months	61 years 8 months 12 days	64 years 6 months
Weighted-average discount rate - operating leases	5.60%	5.70%	5.60%	5.70%
Weighted-average discount rate - finance leases	5%	5.40%	5%	5.40%

Notes and Bonds Payable (Detail

Notes and Bonds Payable (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Feb. 24, 2022	Feb. 18, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Notes and bonds payable	$ 2,063,755,000		$ 2,063,755,000				$ 1,801,325,000
Impact of settlement of forward-starting interest rate swap	(1,663,000)	$ 807,000	(6,822,000)	$ (2,043,000)
Mortgages
Debt Instrument [Line Items]
Effective interest rate					6.17%	4.70%
Line of credit | $700 million Unsecured Credit Facility
Debt Instrument [Line Items]
Notes and bonds payable	$ 490,500,000		$ 490,500,000				210,000,000
Effective interest rate	2.69%		2.69%
Credit facility	$ 700,000,000		$ 700,000,000
Medium-term notes | $200 million Unsecured Term Loan due 2024, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 199,572,000		$ 199,572,000				199,460,000
Effective interest rate	2.55%		2.55%
Term-loan facility	$ 200,000,000		$ 200,000,000
Medium-term notes | $150 million Unsecured Term Loan due 2026, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 149,447,000		$ 149,447,000				149,376,000
Effective interest rate	2.79%		2.79%
Term-loan facility	$ 150,000,000		$ 150,000,000
Senior notes | Senior Notes due 2025, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 249,176,000		$ 249,176,000				249,040,000
Effective interest rate	4.08%		4.08%
Senior notes | Senior Notes due 2028, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 296,864,000		$ 296,864,000				296,612,000
Effective interest rate	3.84%		3.84%
Senior notes | Senior notes due 2030, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 296,989,000		$ 296,989,000				296,813,000
Effective interest rate	2.71%		2.71%
Senior notes | Senior Notes due 2031, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable	$ 295,601,000		$ 295,601,000				295,374,000
Effective interest rate	2.24%		2.24%
Mortgages | Mortgage notes payable, net of discounts and issuance costs and including premiums
Debt Instrument [Line Items]
Notes and bonds payable	$ 85,606,000		$ 85,606,000				$ 104,650,000
Effective interest rate	3.97%		3.97%
Settled interest rate swaps
Debt Instrument [Line Items]
Impact of settlement of forward-starting interest rate swap	$ (1,663,000)	$ 807,000	$ (6,822,000)	$ (2,043,000)
Settled interest rate swaps | Medium-term notes | $200 million Unsecured Term Loan due 2024, net of issuance costs
Debt Instrument [Line Items]
Notional amount	$ 75,000,000		$ 75,000,000
Weighted average interest rate (percent)	2.37%		2.37%
Basis spread on variable rate			100%
Settled interest rate swaps | Medium-term notes | $150 million Unsecured Term Loan due 2026, net of issuance costs
Debt Instrument [Line Items]
Notional amount	$ 100,000,000		$ 100,000,000
Weighted average interest rate (percent)	2.23%		2.23%
Basis spread on variable rate			95%
Settled interest rate swaps | Senior notes | Senior Notes due 2025, net of discount and issuance costs
Debt Instrument [Line Items]
Impact of settlement of forward-starting interest rate swap			$ 1,700,000
Treasury lock | Senior notes | Senior Notes due 2025, net of discount and issuance costs
Debt Instrument [Line Items]
Impact of settlement of forward-starting interest rate swap			$ 4,300,000

Notes and Bonds Payable - Narra

Notes and Bonds Payable - Narrative (Details) - Mortgages $ in Millions	Feb. 24, 2022 USD ($) ft²	Feb. 18, 2022 USD ($) ft²
Debt Disclosure [Abstract]
Effective interest rate	6.17%	4.70%
Debt Instrument [Line Items]
Effective interest rate	6.17%	4.70%
redemption price	$ 6.4	$ 12.6
Outstanding principal repaid	5.8	11
Make whole amount		1.6
Unamortized premium	0.6	0.8
Write off upon payoff	$ 0.1	$ 0.1
Los Angeles, CA
Debt Instrument [Line Items]
Encumbered square footage | ft²		56,762
Colorado Springs, CO
Debt Instrument [Line Items]
Encumbered square footage | ft²	80,153

Derivative Financial Instrume_3

Derivative Financial Instruments - Derivative Instruments Designated as Cash Flow Hedges (Details) $ in Millions	Jun. 30, 2022 USD ($) swap_agreement
Derivative [Line Items]
Derivatives in net asset position	$ 2.4
Active Interest Rate Swap
Derivative [Line Items]
Interest rate cash flow hedge gain (loss) to be reclassified to interest expense during the next 12 months	1
Settled Interest Rate Swaps
Derivative [Line Items]
Interest rate cash flow hedge gain (loss) to be reclassified to interest expense during the next 12 months	$ 0.6
Cash flow hedging | Designated as hedging instrument | Settled interest rate swaps
Derivative [Line Items]
Number of instruments | swap_agreement	8
Notional amount	$ 175

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Other assets | Designated as hedging instrument | Interest rate swaps 2017, 2018, and 2019
Derivative [Line Items]
Liability derivatives	$ 2,516

Derivative Financial Instrume_5

Derivative Financial Instruments - Effect of Cash Flow Hedging on AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Loss recognized in AOCI on derivative	$ (1,663)	$ 807	$ (6,822)	$ (2,043)
(Gain) loss reclassified from AOCI into income	(823)	(1,114)	(1,909)	(2,209)
Interest rate swaps
Derivative [Line Items]
Loss recognized in AOCI on derivative	(1,663)	807	(6,822)	(2,043)
Settled treasury hedges
Derivative [Line Items]
Loss recognized in AOCI on derivative	0	0	0	0
Settled interest rate swaps
Derivative [Line Items]
Loss recognized in AOCI on derivative	0	0	0	0
Interest expense
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	823	1,114	1,909	2,209
Interest expense | Interest rate swaps
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	674	965	1,612	1,912
Interest expense | Settled treasury hedges
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	107	107	213	213
Interest expense | Settled interest rate swaps
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	$ 42	$ 42	$ 84	$ 84

Commitments and Contingencies -

Commitments and Contingencies - Construction Activity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Sep. 30, 2023 ft²	Jun. 30, 2022 USD ($) ft² property
Other Commitments [Line Items]
Number of real estate properties | property			255
Medical office building | Dallas, TX
Other Commitments [Line Items]
Square footage of building under redevelopment			217,114
Construction activity, total funding to date | $			$ 10.2
Medical office building | Tacoma, WA
Other Commitments [Line Items]
Construction activity, total funding to date | $			$ 9.5
Approximate square feet			23,000
Medical office building | Nashville, TN
Other Commitments [Line Items]
Construction activity, total funding to date | $			$ 7.4
Square footage of building to be demolished			81,000
Impairment charge | $	$ 5
Medical office building | Nashville, TN | Forecast
Other Commitments [Line Items]
Approximate square feet		106,194
Medical office building | Washinton, DC
Other Commitments [Line Items]
Square footage of building under redevelopment			158,338
Number of real estate properties | property			2
Medical office building | Denver, CO
Other Commitments [Line Items]
Square footage of building under redevelopment			93,992
Medical office building 2 | Dallas, TX
Other Commitments [Line Items]
Square footage of building under redevelopment			145,365
Construction activity, total funding to date | $			$ 0.6
Medical office building 2 | Washinton, DC
Other Commitments [Line Items]
Construction activity, total funding to date | $			$ 0.1

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Beginning and Ending Common Stock Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of period (in shares)	150,457,000
Balance, end of period (in shares)	151,637,000
Common Stock
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of period (in shares)	150,457,433	139,487,375
Issuance of common stock (in shares)	745,483	10,899,301
Nonvested share-based awards, net of withheld shares (in shares)	434,001	70,757
Balance, end of period (in shares)	151,636,917

Stockholders' Equity - Equity O

Stockholders' Equity - Equity Offering Programs Earnings Per Share (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Nov. 05, 2021 property	Aug. 06, 2021 USD ($) property
Class of Stock [Line Items]
Net proceeds from issuance of common stock | $			$ 22,768,000	$ 179,381,000
At the Market Equity $750 Million Program
Class of Stock [Line Items]
Number of investment banks included in the program | property						12	12
At-the-market equity offering program, authorized amount | $							$ 750,000,000
At the market equity offering program
Class of Stock [Line Items]
Shares issued during period, price per share (in dollars per share) | $ / shares	$ 0	$ 31.73			$ 0
Priced shares sold on a forward basis (in shares) | shares	0	0			0
Settlement of shares sold on a forward basis (in shares) | shares	0	727,400			0
Shares sold on a forward basis remaining to be settled (in shares) | shares	0	0	0		727,400
Net proceeds from issuance of common stock | $	$ 0	$ 22,300,000			$ 0

Stockholders' Equity (Stock Tra

Stockholders' Equity (Stock Transactions - Narrative) (Details) $ / shares in Units, $ in Millions					1 Months Ended	3 Months Ended			6 Months Ended
	Aug. 02, 2022 $ / shares	Jul. 06, 2022 $ / shares	Jul. 01, 2022 $ / shares	Jan. 03, 2022 USD ($) shares	Jan. 31, 2022 $ / shares	Jun. 30, 2022 USD ($) property $ / shares shares	Mar. 31, 2022 USD ($) shares	Jun. 30, 2021 $ / shares shares	Jun. 30, 2022 property $ / shares shares	Jun. 30, 2021 $ / shares shares
Class of Stock [Line Items]
Dividends paid per common share, during the period (in dollars per share) | $ / shares						$ 0.31		$ 0.3025	$ 0.62	$ 0.6050
Award vesting period									3 years
Weighted average grant date fair value (in dollars per share) | $ / shares					$ 33.04
At the market equity offering program
Class of Stock [Line Items]
Percentage of restricted stock units					43%
Performance conditions
Class of Stock [Line Items]
Percentage of restricted stock units					57%
Weighted average grant date fair value (in dollars per share) | $ / shares					$ 31.68
Absolute TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share) | $ / shares					30.56
Relative TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share) | $ / shares					$ 41.30
Restricted stock
Class of Stock [Line Items]
Granted (in shares) | shares						0			294,932
Award vesting period				5 years
Executive Incentive Program | Non-vested Stock Award
Class of Stock [Line Items]
Granted (in dollars per share) | $							$ 13
Granted (in shares) | shares							415,184
Executive Incentive Program | Non-vested Stock Award | Minimum
Class of Stock [Line Items]
Award vesting period							3 years
Executive Incentive Program | Non-vested Stock Award | Maximum
Class of Stock [Line Items]
Award vesting period							8 years
Executive Incentive Program | Restricted stock
Class of Stock [Line Items]
Granted (in dollars per share) | $				$ 9.7
Granted (in shares) | shares				294,932
Stock incentive plan
Class of Stock [Line Items]
Granted (in shares) | shares						26,840		37,978	442,024	203,701
Stock incentive plan | Restricted stock
Class of Stock [Line Items]
Shares withheld to pay estimated withholding taxes (in shares) | shares									6,727	51,972
Stock incentive plan | Restricted stock | Directors
Class of Stock [Line Items]
Granted (in dollars per share) | $						$ 0.8
Award vesting period						1 year
Number of directors | property						8			8
Shares issued during the period (in shares) | shares						26,840
Subsequent event
Class of Stock [Line Items]
Dividends declared per common share, during the period (in dollars per share) | $ / shares	$ 0.1090	$ 4.82	$ 0.2010

Stockholders' Equity - Computat

Stockholders' Equity - Computation of Basic and Diluted Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted average Common Shares outstanding
Weighted average common shares outstanding (in shares)	151,620,897	143,700,491	151,230,064	142,142,577
Non-vested shares (in shares)	(1,945,042)	(1,783,278)	(1,908,652)	(1,788,410)
Weighted average common shares outstanding - basic (in shares)	149,675,855	141,917,213	149,321,412	140,354,167
Dilutive effect of forward equity shares (in shares)	0	61,064	0	27,896
Dilutive effect of employee stock purchase plan (in shares)	62,694	70,711	75,394	85,714
Weighted average common shares outstanding - diluted (in shares)	149,738,549	142,048,988	149,396,806	140,467,777
Net Income	$ 6,130	$ 23,096	$ 48,357	$ 47,118
Dividends paid on nonvested share-based awards	(601)	(539)	(1,207)	(1,080)
Net income applicable to common stockholders	$ 5,529	$ 22,557	$ 47,150	$ 46,038
Basic earnings per common share - net income (in dollars per share)	$ 0.04	$ 0.16	$ 0.32	$ 0.33
Diluted earnings per common share- net income (in dollars per share)	$ 0.04	$ 0.16	$ 0.32	$ 0.33

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity under Stock-Based Incentive Plans and Restricted Stock Unit (Details) - $ / shares	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted stock
Summary of the activity under the incentive plans
Share-based awards, beginning of period (in shares)	294,932	0		0
Granted (in shares)	0			294,932
Vested (in shares)	0			0
Share-based awards, ending of period (in shares)	294,932	294,932		294,932
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based awards, beginning of period, Weighted average grant date fair value			$ 0		$ 0
Granted, Weighted average grant date fair value (in dollar per share)			0		33.04
Vested, Weighted average grant date fair value (in dollar per share)			0		0
Share-based awards, ending of period, Weighted average grant date fair value			$ 0		$ 0
Stock incentive plan
Summary of the activity under the incentive plans
Share-based awards, beginning of period (in shares)	1,951,551	1,562,028	1,786,371	1,562,028	1,766,061
Granted (in shares)	26,840		37,978	442,024	203,701
Vested (in shares)	(36,682)		(46,041)	(61,047)	(191,454)
Forfeited (in shares)	0		0	(1,296)	0
Share-based awards, ending of period (in shares)	1,941,709	1,951,551	1,778,308	1,941,709	1,778,308

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Options, Valuation Assumptions (Details)	1 Months Ended
	Jan. 31, 2022 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility	30%
Expected term in years	3 years
Risk-free rate	1.02%
Stock price (in dollar per share)	$ 31.68

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity under Employee Stock Purchase Plan (Details) - Employee stock purchase plan - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Summary of the Employee Stock Purchase Plan activity
Outstanding and exercisable, beginning of period (in shares)	427,802	415,299	348,514	341,647
Granted (in shares)	0	0	255,960	253,200
Exercised (in shares)	(1,965)	(3,012)	(12,518)	(18,977)
Forfeited (in shares)	(20,303)	(22,873)	(45,789)	(42,034)
Expired (in shares)	0	0	(140,633)	(144,422)
Outstanding and exercisable, end of period (in shares)	405,534	389,414	405,534	389,414

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
CARRYING VALUE
Derivative [Line Items]
Notes and bonds payable	$ 2,063.8	$ 1,801.3
FAIR VALUE
Derivative [Line Items]
Notes and bonds payable	$ 1,955.6	$ 1,797.4

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details)	Aug. 02, 2022 $ / shares	Jul. 20, 2022 USD ($) extension_option	Jul. 06, 2022 $ / shares	Jul. 01, 2022 $ / shares	Aug. 09, 2022 USD ($)	Jul. 22, 2022	Jun. 30, 2022 USD ($) $ / shares	May 13, 2022 USD ($)	Feb. 28, 2022 director	Dec. 31, 2021 $ / shares
Business Acquisition [Line Items]
Common stock, par value (dollars per share) | $ / shares							$ 0.01			$ 0.01
Number of board directors | director									9
Subsequent event
Business Acquisition [Line Items]
Dividends declared per common share, during the period (in dollars per share) | $ / shares	$ 0.1090		$ 4.82	$ 0.2010
Subsequent event | Disposed of by Sale | Closed Joint Ventures and Asset Sales
Business Acquisition [Line Items]
Joint ventures and assets sold					$ 433,000,000
Amended and Restated Credit Agreement | Revolving Credit Facility | Subsequent event
Business Acquisition [Line Items]
Debt extinguished amount		$ 700,000,000
Term Loan Facility Due May 2026 | Subsequent event
Business Acquisition [Line Items]
Debt extinguished amount		200,000,000
Amended Term Loan Facility Due May 2026 | Subsequent event
Business Acquisition [Line Items]
Term-loan facility		$ 200,000,000
Number of extension options | extension_option		2
Extension option period		1 year
Term Loan Facility Due June 2026 | Subsequent event
Business Acquisition [Line Items]
Debt extinguished amount		$ 150,000,000
Amended Term Loan Facility Due June 2026 | Subsequent event
Business Acquisition [Line Items]
Term-loan facility		$ 150,000,000
Credit Facility Maturing October 2025 | Revolving Credit Facility
Business Acquisition [Line Items]
Credit facility							$ 1,000,000,000
Credit Facility Maturing October 2025 | Revolving Credit Facility | Subsequent event
Business Acquisition [Line Items]
Number of extension options | extension_option		2
Credit facility		$ 1,500,000,000
Term Loan Facility Due October 2025 | Subsequent event
Business Acquisition [Line Items]
Credit facility		300,000,000
Term Loan Facility Due January 2024 - July 20, 2027 | Subsequent event
Business Acquisition [Line Items]
Credit facility		$ 200,000,000
Delayed Term Loan Facility due July 20, 2023 | Subsequent event
Business Acquisition [Line Items]
Number of extension options | extension_option		2
Credit facility		$ 350,000,000
Delayed credit facility, period available for draws		12 months
Term Loan Facility Due January 20, 2028 | Subsequent event
Business Acquisition [Line Items]
Credit facility		$ 300,000,000
Term Loan Agreement to Fund Special Dividend
Business Acquisition [Line Items]
Term-loan facility								$ 1,125,000,000
Healthcare Trust Of America, Inc
Business Acquisition [Line Items]
Common stock, par value (dollars per share) | $ / shares							$ 0.01
Number of board directors | director									4
Healthcare Trust Of America, Inc | Senior Notes due 2025
Business Acquisition [Line Items]
Business combination, validly tendered and accepted notes, exchange amount							$ 250,000,000
Fixed interest rate (percent)							3.875%
Healthcare Trust Of America, Inc | Senior Notes due 2025 | Subsequent event
Business Acquisition [Line Items]
Fixed interest rate (percent)						3.875%
Healthcare Trust Of America, Inc | Senior Notes due 2028
Business Acquisition [Line Items]
Business combination, validly tendered and accepted notes, exchange amount							$ 300,000,000
Fixed interest rate (percent)							3.625%
Healthcare Trust Of America, Inc | Senior Notes due 2028 | Subsequent event
Business Acquisition [Line Items]
Fixed interest rate (percent)						3.625%
Healthcare Trust Of America, Inc | Senior Notes due 2030
Business Acquisition [Line Items]
Business combination, validly tendered and accepted notes, exchange amount							$ 300,000,000
Fixed interest rate (percent)							2.40%
Healthcare Trust Of America, Inc | Senior Notes due 2030 | Subsequent event
Business Acquisition [Line Items]
Fixed interest rate (percent)						2.40%
Healthcare Trust Of America, Inc | Senior Notes due 2031
Business Acquisition [Line Items]
Business combination, validly tendered and accepted notes, exchange amount							$ 300,000,000
Fixed interest rate (percent)							2.05%
Healthcare Trust Of America, Inc | Senior Notes due 2031 | Subsequent event
Business Acquisition [Line Items]
Fixed interest rate (percent)						2.05%

Subsequent Events - Summary of

Subsequent Events - Summary of Debt (Details) - Healthcare Trust Of America, Inc - USD ($)	Jul. 22, 2022	Jun. 30, 2022
Senior Notes due 2025
Business Acquisition [Line Items]
Fixed interest rate (percent)		3.875%
Senior Notes due 2025 | Subsequent event
Business Acquisition [Line Items]
Tenders and Consents Received as of the Expiration Date	$ 235,016,000
Fixed interest rate (percent)	3.875%
Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes	94.01%
Senior Notes due 2028
Business Acquisition [Line Items]
Fixed interest rate (percent)		3.625%
Senior Notes due 2028 | Subsequent event
Business Acquisition [Line Items]
Tenders and Consents Received as of the Expiration Date	$ 290,246,000
Fixed interest rate (percent)	3.625%
Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes	96.75%
Senior Notes due 2030
Business Acquisition [Line Items]
Fixed interest rate (percent)		2.40%
Senior Notes due 2030 | Subsequent event
Business Acquisition [Line Items]
Tenders and Consents Received as of the Expiration Date	$ 297,507,000
Fixed interest rate (percent)	2.40%
Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes	99.17%
Senior Notes due 2031
Business Acquisition [Line Items]
Fixed interest rate (percent)		2.05%
Senior Notes due 2031 | Subsequent event
Business Acquisition [Line Items]
Tenders and Consents Received as of the Expiration Date	$ 298,858,000
Fixed interest rate (percent)	2.05%
Percentage of Total Outstanding Principal Amount of Such Series of Old HR Notes	99.62%