Healthcare Realty Trust (HR) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	Class A 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		380,816,937
Entity Central Index Key	0001360604
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate properties
Land	$ 1,412,805	$ 1,439,798
Buildings and improvements	11,196,297	11,332,037
Lease intangibles	929,008	959,998
Personal property	11,945	11,907
Investment in financing receivable, net	120,692	120,236
Financing lease right-of-use assets	83,420	83,824
Construction in progress	42,615	35,560
Land held for development	69,575	74,265
Total real estate properties	13,866,357	14,057,625
Less accumulated depreciation and amortization	(1,810,093)	(1,645,271)
Total real estate properties, net	12,056,264	12,412,354
Cash and cash equivalents	49,941	60,961
Assets held for sale, net	3,579	18,893
Operating lease right-of-use assets	336,112	336,983
Investments in unconsolidated joint ventures	327,746	327,248
Goodwill	260,822	223,202
Other assets, net	534,420	469,990
Total assets	13,568,884	13,849,631
Liabilities
Notes and bonds payable	5,361,699	5,351,827
Accounts payable and accrued liabilities	155,210	244,033
Liabilities of assets held for sale	277	437
Operating lease liabilities	279,637	279,895
Financing lease liabilities	73,193	72,939
Other liabilities	232,029	218,668
Total liabilities	6,102,045	6,167,799
Commitments and contingencies
Redeemable non-controlling interests	2,000	2,014
Stockholders' equity
Preferred stock, $.01 par value per share; 200,000 shares authorized; none issued and outstanding	0	0
Class A Common stock, $.01 par value per share; 1,000,000 shares authorized; 380,816 and 380,590 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	3,808	3,806
Additional paid-in capital	9,591,194	9,587,637
Accumulated other comprehensive (loss) income	(8,554)	2,140
Cumulative net income attributable to common stockholders	1,219,930	1,307,055
Cumulative dividends	(3,447,750)	(3,329,562)
Total stockholders' equity	7,358,628	7,571,076
Non-controlling interest	106,211	108,742
Total equity	7,464,839	7,679,818
Total liabilities and equity	$ 13,568,884	$ 13,849,631

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	200,000,000	200,000,000
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)	1,000,000,000	1,000,000,000
Common stock, issued (shares)	380,816,000	380,590,000
Common stock, outstanding (shares)	380,816,000	380,590,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Rental income	$ 324,093	$ 138,489
Interest income	4,214	1,930
Other operating	4,618	2,475
Revenues	332,925	142,894
Expenses
Property operating	122,040	57,464
General and administrative	14,935	11,036
Acquisition and pursuit costs	287	1,303
Merger-related costs	4,855	6,116
Depreciation and amortization	184,479	54,041
Expenses	326,596	129,960
Other income (expense)
Gain on sales of real estate properties	1,007	44,784
Interest expense	(63,759)	(13,661)
Loss on extinguishment of debt	0	(1,429)
Impairment of real estate properties and credit loss reserves	(31,422)	25
Equity loss from unconsolidated joint ventures	(780)	(345)
Interest and other income (expense), net	547	(81)
Total other income (expense)	(94,407)	29,293
Net (loss) income	(88,078)	42,227
Net loss attributable to non-controlling interests	953	0
Net (loss) income attributable to common stockholders	$ (87,125)	$ 42,227
Basic earnings per common share (in dollars per share)	$ (0.23)	$ 0.28
Diluted earnings per common share (in dollars per share)	$ (0.23)	$ 0.28
Weighted average common shares outstanding - basic	378,840,420	148,963,030
Weighted average common shares outstanding - diluted	378,840,420	149,051,264
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
	Mar. 31, 2023	Mar. 31, 2022
Net (loss) income	$ (88,078)	$ 42,227
Interest rate swaps
Reclassification adjustments for (gains) losses included in net income (interest expense)	(2,284)	1,086
(Losses) gains arising during the period on interest rate swaps	(8,541)	5,159
Other comprehensive income	(10,825)	6,245
Comprehensive (loss) income	(98,903)	48,472
Less: comprehensive loss attributable to non-controlling interests	1,084	0
Comprehensive (loss) income attributable to common stockholders	(97,819)	48,472
Interest Rate Swaps
Interest rate swaps
(Losses) gains arising during the period on interest rate swaps	$ (8,541)	$ 5,159

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Total Stockholders’ Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Cumulative Net Income	Cumulative Dividends	Non-controlling Interests
Beginning balance at Dec. 31, 2021	$ 2,185,116	$ 2,185,116	$ 1,505	$ 3,972,917	$ (9,981)	$ 1,266,158	$ (3,045,483)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	22,661	22,661	7	22,654
Common stock redemptions	(206)	(206)		(206)
Share-based compensation	3,699	3,699	4	3,695
Net (loss) income	42,227	42,227				42,227
Reclassification adjustments for (gains) losses included in net income (interest expense)	1,086	1,086			1,086
Gains (Losses) arising during the period on interest rate swaps	5,159	5,159			5,159
Dividends to common stockholders (in usd per share)	(46,860)	(46,860)					(46,860)
Ending balance at Mar. 31, 2022	2,212,882	2,212,882	1,516	3,999,060	(3,736)	1,308,385	(3,092,343)	0
Beginning balance at Dec. 31, 2022	7,679,818	7,571,076	3,806	9,587,637	2,140	1,307,055	(3,329,562)	108,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	51	51		51
Common stock redemptions	(1,484)	(1,484)	(1)	(1,483)
Share-based compensation	4,992	4,992	3	4,989
Net (loss) income	(88,078)	(87,125)				(87,125)		(953)
Reclassification adjustments for (gains) losses included in net income (interest expense)	(2,284)	(2,256)			(2,256)			(28)
Gains (Losses) arising during the period on interest rate swaps	(8,541)	(8,438)			(8,438)			(103)
Dividends to common stockholders (in usd per share)	(119,635)	(118,188)					(118,188)	(1,447)
Ending balance at Mar. 31, 2023	$ 7,464,839	$ 7,358,628	$ 3,808	$ 9,591,194	$ (8,554)	$ 1,219,930	$ (3,447,750)	$ 106,211

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividend per share to common Stockholders (in dollars per share)	$ 0.31	$ 0.31

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES
Net (loss) income	$ (88,078)	$ 42,227
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	184,479	54,041
Other amortization	11,104	1,192
Share-based compensation	4,992	3,699
Amortization of straight-line rent receivable (lessor)	(9,783)	(1,587)
Amortization of straight-line rent on operating leases (lessee)	1,537	378
Gain on sales of real estate properties	(1,007)	(44,784)
Loss on extinguishment of debt	0	1,429
Impairment of real estate properties and credit loss reserves	31,422	(25)
Equity loss from unconsolidated joint ventures	780	345
Distributions from unconsolidated joint ventures	2,542	0
Non-cash interest from financing and notes receivable	(1,385)	(199)
Changes in operating assets and liabilities:
Other assets, including right-of-use-assets	(8,360)	(2,563)
Accounts payable and accrued liabilities	(66,954)	(12,212)
Other liabilities	7,901	1,830
Net cash provided by operating activities	69,190	43,771
INVESTING ACTIVITIES
Acquisitions of real estate	(30,725)	(121,964)
Development of real estate	(6,707)	(3,754)
Additional long-lived assets	(60,159)	(23,326)
Funding of mortgages and notes receivable	(6,230)	0
Investments in unconsolidated joint ventures	(3,824)	(49,598)
Investment in financing receivable	(302)
Investment in financing receivable		492
Proceeds from sales of real estate properties and additional long-lived assets	149,171	84,883
Proceeds from notes receivable repayments	336	0
Net cash provided by (used in) investing activities	41,560	(113,267)
FINANCING ACTIVITIES
Net borrowings on unsecured credit facility	0	124,000
Repayments of notes and bonds payable	(667)	(17,573)
Redemption of notes and bonds payable	0	(2,184)
Dividends paid	(118,052)	(46,768)
Net proceeds from issuance of common stock	51	22,649
Common stock redemptions	(1,729)	(852)
Distributions to non-controlling interest holders	(1,272)	0
Payments made on finance leases	(101)	(257)
Net cash (used in) provided by financing activities	(121,770)	79,015
(Decrease) increase in cash and cash equivalents	(11,020)	9,519
Cash and cash equivalents at beginning of period	60,961	13,175
Cash and cash equivalents at end of period	49,941	22,694
Supplemental Cash Flow Information
Interest paid	75,082	16,227
Mortgage note receivable taken in connection with sale of real estate	45,000	0
Invoices accrued for construction, tenant improvements and other capitalized costs	28,138	13,516
Capitalized interest	$ 570	$ 38

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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. As of March 31, 2023, the Company had gross investments of approximately $13.9 billion in 681 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 681 real estate properties are located in 35 states and total approximately 39.9 million square feet. The Company provided leasing and property management services to approximately 39.5 million square feet nationwide. As of March 31, 2023, the Company had a weighted average ownership interest of approximately 44% in 34 real estate properties held in joint ventures. See Note 3 below 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 For purposes of this Quarterly Report on Form 10-Q, references to the “Company” are to Legacy HR for periods prior to the closing of the Merger and thereafter to Legacy HR and Legacy HTA as the combined company after giving effect to the Merger. The Merger is described in more detail in Note 2 to these Condensed Consolidated Financial Statements. 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 and specific disclosures incorporated as a result of the Merger, 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, 2022. 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, 2022. 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, 2023 for many reasons including, but not limited to, 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 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 (“ASC”) Topic 810, Consolidation 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, with any minority interests reflected as non-controlling interests or redeemable non-controlling interests in the accompanying Condensed Consolidated Financial Statements. 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, the disposition of all or a portion of an interest held by the primary beneficiary, or changes in facts and circumstances that impact the power to direct activities of the VIE that most significantly impacts economic performance. 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 entities 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. Healthcare Realty Holdings, L.P. (the "OP") is 98.8% owned by the Company. Holders of operating partnership units (“OP Units”) are considered to be non-controlling interest holders in the OP and their ownership interests are reflected as equity on the accompanying Condensed Consolidated Balance Sheets. Further, a portion of the earnings and losses of the OP are allocated to non-controlling interest holders based on their respective ownership percentages. Upon conversion of OP Units to common stock, any difference between the fair value of the common stock issued and the carrying value of the OP Units converted to common stock is recorded as a component of equity. As of March 31, 2023, there were approximately 4.7 million, or 1.2%, of OP Units issued and outstanding held by non-controlling interest holders. Additionally, the Company is the primary beneficiary of this VIE. Accordingly, the Company consolidates the interests in the OP. As of March 31, 2023, the Company had three consolidated VIEs in addition to the OP where it is the primary beneficiary of the VIE based on the combination of operational control and the rights to receive residual returns or the obligation to absorb losses arising from the joint ventures. Accordingly, such joint ventures have been consolidated, and the table below summarizes the balance sheets of consolidated VIEs, excluding the OP, in the aggregate: (dollars in thousands) MARCH 31, 2023 Assets: Net real estate investments $ 48,079 Cash and cash equivalents 1,517 Receivables and other assets 2,339 Total assets $ 51,935 Liabilities: Accrued expenses and other liabilities $ 12,010 Total equity 39,925 Total liabilities and equity $ 51,935 As of March 31, 2023, the Company had three unconsolidated VIEs consisting of two notes receivables and one joint venture. The Company does not have the power or economics to direct the activities of the VIEs on a stand-alone basis, and therefore it was determined that the Company was not the primary beneficiary. As a result, the Company accounts for the two notes receivables as amortized cost and a joint venture arrangement under the equity method. See below for additional information regarding the Company's unconsolidated VIEs. (dollars in thousands) ORIGINATION DATE LOCATION SOURCE CARRYING AMOUNT MAXIMUM EXPOSURE TO LOSS 2021 Houston, TX 1 Note receivable $ 30,839 $ 31,150 2021 Charlotte, NC 1 Note receivable 5,639 6,000 2022 Texas 2 Joint venture 66,038 66,038 1 Assumed mortgage note receivable in connection with the Merger. 2 Includes investments in seven properties. As of March 31, 2023, 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 3 below 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. Reclassifications Certain reclassifications have been made on the Company's prior year Condensed Consolidated Balance Sheet to conform to current year presentation. Previously, the Company's Lease intangibles were included in Building, improvements and lease intangibles and Goodwill was included with Other assets, net. These amounts are now classified as separate line items on the Company's Condensed Consolidated Balance Sheets. Redeemable Non-Controlling Interests The Company accounts for redeemable equity securities in accordance with Accounting Standards Codification Topic 480: Accounting for Redeemable Equity Instruments, which requires that equity securities redeemable at the option of the holder, not solely within our control, be classified outside permanent stockholders’ equity. The Company classifies redeemable equity securities as redeemable non-controlling interests in the accompanying Condensed Consolidated Balance Sheet. Accordingly, the Company records the carrying amount at the greater of the initial carrying amount (increased or decreased for the non-controlling interest’s share of net income or loss and distributions) or the redemption value. We measure the redemption value and record an adjustment to the carrying value of the equity securities as a component of redeemable non-controlling interest. As of March 31, 2023, the Company had redeemable non-controlling interests of $2.0 million. Investments in Leases - Financing Receivables, Net In accordance with 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”. Real Estate Notes Receivable Real estate notes receivable consists of mezzanine and other real estate loans, which are generally collateralized by a pledge of the borrower’s ownership interest in the respective real estate owner, a mortgage or deed of trust, and/or corporate guarantees. Real estate notes receivable are intended to be held-to-maturity and are recorded at amortized cost, net of unamortized loan origination costs and fees and allowance for credit losses. As of March 31, 2023, real estate notes receivable, net, which are included in Other assets on the Company's Condensed Consolidated Balance Sheets, totaled $147.3 million. (dollars in thousands) ORIGINATION MATURITY STATED INTEREST RATE MAXIMUM LOAN COMMITMENT OUTSTANDING as of Mezzanine loan Texas 6/24/2021 6/24/2024 8.00 % 54,119 54,119 Mortgage loans Texas 6/30/2021 12/31/2023 7.00 % 31,150 31,150 North Carolina 12/22/2021 12/22/2024 8.00 % 6,000 6,000 Florida 5/17/2022 2/27/2026 6.00 % 65,000 19,367 California 3/30/2023 3/29/2026 6.00 % 45,000 45,000 $ 147,150 $ 101,517 Accrued interest 1,428 Allowance for credit losses (5,196) Fair-value discount and fees (4,542) $ 147,326 Allowance for Credit Losses Pursuant to ASC Topic 326, Financial Instruments - Credit Losses, the Company adopted a policy to evaluate current expected credit losses at the inception of loans qualifying for treatment under Topic 326. The Company utilizes a probability of default method approach for estimating current expected credit losses and evaluates the liquidity and creditworthiness of its borrowers on a quarterly basis to determine whether any updates to the future expected losses recognized upon inception are necessary. The Company’s evaluation considers industry and economic conditions, credit enhancements, liquidity, and other factors. In its assessment of current expected credit losses for real estate notes receivable, the Company utilizes past payment history of its borrowers, current economic conditions, and forecasted economic conditions through the maturity date of each note to estimate a probability of default and a resulting loss for each real estate note receivable. During the three months ended March 31, 2023, the Company determined that the risk of credit loss on its mezzanine loans was no longer remote. Consequently, the Company recorded a credit loss reserve of $5.2 million for the three months ended March 31, 2023. The following table summarizes the Company's allowance for credit losses on real estate notes receivable: Dollars in thousands March 31, 2023 December 31, 2022 Allowance for credit losses, beginning of period $ — $ — Credit loss reserves $ 5,196 — Allowance for credit losses, end of period $ 5,196 $ — Interest Income Income from Lease Financing Receivables For the three months ended March 31, 2023, the Company recognized the related income from two financing receivables totaling $1.5 million 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. Income from Real Estate Notes Receivable During the three months ended March 31, 2023, the Company recognized interest income of $2.0 million related to real estate notes receivable. The Company recognizes interest income on an accrual basis unless the Company has determined that collectability of contractual amounts is not reasonably assured, at which point the note is placed on non-accrual status and interest income is recognized on a cash basis. As of March 31, 2023, the Company placed two of its real estate notes receivable with a principal balance of $54.1 million on non-accrual status and accordingly did not recognize any interest income for the quarter. 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 Operations 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 in thousands 2023 2022 Type of Revenue Parking income $ 2,391 $ 1,753 Management fee income 1 1,973 655 Miscellaneous 254 67 $ 4,618 $ 2,475 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.

Merger with HTA

Merger with HTA	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Merger with HTA	Merger with HTA On July 20, 2022 (the “Closing Date”), pursuant to the 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”), Healthcare Trust of America, Inc., a Maryland corporation (now known as Healthcare Realty Trust Incorporated) (“Legacy HTA”), the OP, and HR Acquisition 2, LLC, a Maryland limited liability company (“Merger Sub”), 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”). On the Closing Date, each outstanding share of Legacy HR common stock, $0.01 par value per share (the “Legacy HR Common Stock”), was cancelled and converted into the right to receive one share of Legacy HTA class A common stock at a fixed ratio of 1.00 to 1.00. Per the terms of the Merger Agreement, Legacy HTA declared a special dividend of $4.82 (the “Special Dividend”) for each outstanding share of Legacy HTA class A common stock, $0.01 par value per share ( the “Legacy HTA Common Stock”), and the OP declared a corresponding distribution to the holders of its partnership units, payable to Legacy HTA stockholders and OP unitholders of record on July 19, 2022. 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. The 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”. For accounting purposes, the Merger was treated as a “reverse acquisition” in which Legacy HTA was considered the legal acquirer and Legacy HR was considered the accounting acquirer based on various factors, including, but not limited to: (i) the composition of the board of directors of the combined company following the Merger, (ii) the composition of senior management of the combined company following the Merger, and (iii) the premium transferred to the Legacy HTA stockholders. As a result, the historical financial statements of the accounting acquirer, Legacy HR, became the historical financial statements of the Company. The acquisition was accounted for using the acquisition method of accounting in accordance with ASC 805, which requires, among other things, the assets acquired and the liabilities assumed and non-controlling interests, if any, to be recognized at their acquisition date fair value. The implied consideration transferred on the Closing Date is as follows: Dollars in thousands, except for per share data Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (a) 228,520,990 Exchange ratio 1.00 Implied shares of Legacy HR Common Stock issued 228,520,990 Adjusted closing price of Legacy HR Common Stock on July 20, 2022 (b) $ 24.37 Value of implied Legacy HR Common Stock issued $ 5,569,057 Fair value of Legacy HTA restricted stock awards attributable to pre-Merger services (c) 7,406 Consideration transferred $ 5,576,463 (a) The number of shares of Legacy HTA Common Stock presented above was based on 228,857,717 total shares of Legacy HTA Common Stock outstanding as of the Closing Date, less 192 HTA fractional shares that were cancelled in lieu of cash and less 336,535 shares of Legacy HTA restricted stock (net of 215,764 shares of Legacy HTA restricted stock withheld). For accounting purposes, these shares were converted to Legacy HR Common Stock, at an exchange ratio of 1.00 share of Legacy HR Common Stock per share of Legacy HTA Common Stock. (b) For accounting purposes, the fair value of Legacy HR Common Stock issued to former holders of Legacy HTA Common Stock was based on the per share closing price of Legacy HR Common Stock on July 20, 2022. (c) Represents the fair value of Legacy HTA restricted shares which fully vested prior to the closing of the Merger or became fully vested as a result of the closing of the Merger and which are attributable to pre-combination services. Preliminary Purchase Price Allocation The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the Closing Date: Dollars in thousands PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE MEASUREMENT PERIOD ADJUSTMENTS PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE ASSETS Real estate investments Land $ 985,926 $ 6,285 $ 992,211 Buildings and improvements 6,960,418 (121,413) 6,839,005 Lease intangible assets (a) 831,920 1,847 833,767 Financing lease right-of-use assets 9,874 3,146 13,020 Construction in progress 10,071 (6,744) 3,327 Land held for development 46,538 — 46,538 Total real estate investments $ 8,844,747 $ (116,879) $ 8,727,868 Assets held for sale, net 707,442 (7,946) 699,496 Investments in unconsolidated joint ventures 67,892 — 67,892 Cash and cash equivalents 26,034 11,403 37,437 Restricted cash 1,123,647 (1,247) 1,122,400 Operating lease right-of-use assets 198,261 17,786 216,047 Other assets, net (b) (c) 209,163 (3,840) 205,323 Total assets acquired $ 11,177,186 $ (100,723) $ 11,076,463 LIABILITIES Notes and bonds payable $ 3,991,300 $ — $ 3,991,300 Accounts payable and accrued liabilities 1,227,570 17,374 1,244,944 Liabilities of assets held for sale 28,677 (3,939) 24,738 Operating lease liabilities 173,948 10,173 184,121 Financing lease liabilities 10,720 (855) 9,865 Other liabilities 203,210 (11,544) 191,666 Total liabilities assumed $ 5,635,425 $ 11,209 $ 5,646,634 Net identifiable assets acquired $ 5,541,761 $ (111,932) $ 5,429,829 Non-controlling interest $ 110,702 $ — $ 110,702 Goodwill $ 145,404 $ 111,932 $ 257,336 (a) The weighted average amortization period for the acquired lease intangible assets is approximately 6 years. (b) Includes $15.9 million of contractual accounts receivable, which approximates fair value. (c) Includes $78.7 million of gross contractual real estate notes receivable, the fair value of which was $74.8 million, and the Company preliminarily expects to collect substantially all of the real estate notes receivable proceeds as of the Closing Date. The cumulative measurement period adjustments recorded through March 31, 2023 primarily resulted from updated valuations related to the Company’s real estate assets and liabilities and additional information obtained by the Company related to the properties acquired in the Merger and their respective tenants, and resulted in an increase to goodwill of $111.9 million. As of March 31, 2023, the Company had not finalized the determination of fair value of certain tangible and intangible assets acquired and liabilities assumed, including, but not limited to real estate assets and liabilities, notes receivables and goodwill. As such, the assessment of fair value of assets acquired and liabilities assumed is preliminary and was based on information that was available at the time the Condensed Consolidated Financial Statements were prepared. The finalization of the purchase accounting assessment could result in material changes to the Company’s determination of the fair value of assets acquired and liabilities assumed, which will be recorded as measurement period adjustments in the period in which they are identified, up to one year from the Closing Date. A preliminary estimate of approximately $257.3 million has been allocated to goodwill. Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired and liabilities assumed. The recognized goodwill is attributable to expected synergies and benefits arising from the Merger, including anticipated general and administrative cost savings and potential economies of scale benefits in both tenant and vendor relationships following the closing of the Merger. None of the goodwill recognized is expected to be deductible for tax purposes. Merger-related Costs

Real Estate Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Real Estate Investments	Real Estate Investments 2023 Acquisition Activity The following table details the Company's real estate acquisition activity for the three months ended March 31, 2023: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL OTHER 2 SQUARE FOOTAGE Tampa, FL 3/10/23 $ 31,500 $ 30,499 $ 30,596 $ (97) 115,867 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. Unconsolidated Joint Ventures The Company's investment in and loss recognized for the three months ended March 31, 2023 and 2022 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below: THREE MONTHS ENDED Dollars in thousands 2023 2022 Investments in unconsolidated joint ventures, beginning of period $ 327,248 $ 161,942 New investment during the period 1 3,824 49,598 Equity loss recognized during the period (780) (345) Owner distributions (2,546) — Investments in unconsolidated joint ventures, end of period $ 327,746 $ 211,195 1 This was an additional investment in an existing joint venture representing a 40% ownership interest in a property in Dallas, Texas. Also, see 2023 Real Estate Asset Dispositions below for additional information. 2023 Real Estate Asset Dispositions The following table details the Company's dispositions for the three months ended March 31, 2023: Dollars in thousands DATE DISPOSED SALE PRICE CLOSING ADJUSTMENTS COMPANY-FINANCED MORTGAGE NOTES NET PROCEEDS NET REAL ESTATE INVESTMENT OTHER (INCLUDING RECEIVABLES) 1 GAIN/(IMPAIRMENT) SQUARE FOOTAGE Tampa, FL & Miami, FL 2 1/12/23 $ 93,250 $ (5,875) $ — $ 87,375 $ 87,302 $ (888) $ 961 224,037 Dallas, TX 3 1/30/23 19,210 (141) — 19,069 18,986 43 40 36,691 St. Louis, MO 2/10/23 350 (18) — 332 398 — (66) 6,500 Los Angeles, CA 3/23/23 21,000 (526) — 20,474 20,610 52 (188) 37,165 Los Angeles, CA 4 3/30/23 75,000 (8,079) (45,000) 21,921 88,624 (803) (20,900) 147,078 Total dispositions $ 208,810 $ (14,639) $ (45,000) $ 149,171 $ 215,920 $ (1,596) $ (20,153) 451,471 1 Includes straight-line rent receivables, leasing commissions and lease inducements. 2 Includes two properties, sold in two separate transactions to the same buyer on the same date. 3 The Company sold this property to a joint venture in which it retained a 40% interest. Sales price and square footage reflect the total sales price paid by the joint venture and total square footage of the property. 4 The Company entered into a mortgage note agreement with the buyer for $45 million. Assets Held for Sale The Company had three properties and one land parcel classified as assets held for sale as of March 31, 2023. The net real estate assets held for sale includes $5.1 million of impairment charges. As of December 31, 2022, the Company had one property classified as assets held for sale as of December 31, 2022, which was sold in the first quarter of 2023. The table below reflects the assets and liabilities classified as held for sale as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Balance Sheet data: Land $ 205 $ 1,700 Building and improvements 1,736 15,164 Lease intangibles 2,242 1,986 Land held for development 3,251 — 7,434 18,850 Accumulated depreciation (4,183) — Real estate assets held for sale, net 3,251 18,850 Other assets, net 328 43 Assets held for sale, net $ 3,579 $ 18,893 Accounts payable and accrued liabilities $ 277 $ 282 Other liabilities — 155 Liabilities of assets held for sale $ 277 $ 437

Leases

Leases	3 Months Ended
	Mar. 31, 2023
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 2052. 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 months ended March 31, 2023 was $324.1 million. Lease income for the Company's operating leases recognized for the three months ended March 31, 2022 was $138.5 million. Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of March 31, 2023 were as follows: Dollars in thousands OPERATING 2023 $ 695,787 2024 833,006 2025 720,985 2026 620,118 2027 539,486 2028 and thereafter 1,854,402 $ 5,263,784 Lessee Accounting As of March 31, 2023, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. As of March 31, 2023, the Company had 242 properties totaling 17.8 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 75 prepaid ground leases as of March 31, 2023. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $0.3 million and $0.1 million of the Company’s rental expense for the three months ended March 31, 2023 and 2022, respectively. The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of March 31, 2023 were as follows: Dollars in thousands OPERATING FINANCING 2023 $ 11,188 $ 1,491 2024 15,239 2,182 2025 14,827 2,218 2026 14,863 2,255 2027 14,933 2,294 2028 and thereafter 939,392 396,398 Total undiscounted lease payments 1,010,442 406,838 Discount (730,805) (333,645) Lease liabilities $ 279,637 $ 73,193 The following table provides details of the Company's total lease expense for the three months ended March 31, 2023 and 2022: THREE MONTHS ENDED Dollars in thousands 2023 2022 Operating lease cost Operating lease expense $ 5,107 $ 1,215 Variable lease expense 2,136 1,024 Finance lease cost Amortization of right-of-use assets 388 172 Interest on lease liabilities 918 287 Total lease expense $ 8,549 $ 2,698 Other information Operating cash flows outflows related to operating leases $ 5,960 $ 2,797 Operating cash flows outflows related to financing leases $ 553 $ 258 Financing cash flows outflows related to financing leases $ 101 $ 257 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ 40,589 Weighted-average years remaining lease term (excluding renewal options) - operating leases 47.4 47.6 Weighted-average years remaining lease term (excluding renewal options) - finance leases 58.7 61.9 Weighted-average discount rate - operating leases 5.8 % 5.6 % Weighted-average discount rate - finance leases 5.0 % 5.0 %
Leases	Leases Lessor Accounting The Company’s properties generally were leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2052. 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 months ended March 31, 2023 was $324.1 million. Lease income for the Company's operating leases recognized for the three months ended March 31, 2022 was $138.5 million. Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of March 31, 2023 were as follows: Dollars in thousands OPERATING 2023 $ 695,787 2024 833,006 2025 720,985 2026 620,118 2027 539,486 2028 and thereafter 1,854,402 $ 5,263,784 Lessee Accounting As of March 31, 2023, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. As of March 31, 2023, the Company had 242 properties totaling 17.8 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 75 prepaid ground leases as of March 31, 2023. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $0.3 million and $0.1 million of the Company’s rental expense for the three months ended March 31, 2023 and 2022, respectively. The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of March 31, 2023 were as follows: Dollars in thousands OPERATING FINANCING 2023 $ 11,188 $ 1,491 2024 15,239 2,182 2025 14,827 2,218 2026 14,863 2,255 2027 14,933 2,294 2028 and thereafter 939,392 396,398 Total undiscounted lease payments 1,010,442 406,838 Discount (730,805) (333,645) Lease liabilities $ 279,637 $ 73,193 The following table provides details of the Company's total lease expense for the three months ended March 31, 2023 and 2022: THREE MONTHS ENDED Dollars in thousands 2023 2022 Operating lease cost Operating lease expense $ 5,107 $ 1,215 Variable lease expense 2,136 1,024 Finance lease cost Amortization of right-of-use assets 388 172 Interest on lease liabilities 918 287 Total lease expense $ 8,549 $ 2,698 Other information Operating cash flows outflows related to operating leases $ 5,960 $ 2,797 Operating cash flows outflows related to financing leases $ 553 $ 258 Financing cash flows outflows related to financing leases $ 101 $ 257 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ 40,589 Weighted-average years remaining lease term (excluding renewal options) - operating leases 47.4 47.6 Weighted-average years remaining lease term (excluding renewal options) - finance leases 58.7 61.9 Weighted-average discount rate - operating leases 5.8 % 5.6 % Weighted-average discount rate - finance leases 5.0 % 5.0 %

Other Assets and Liabilities

Other Assets and Liabilities	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Assets and Liabilities	Other Assets and Liabilities Other Assets Other assets consist primarily of intangible assets, prepaid assets, real estate notes receivable, straight-line rent receivables, accounts receivable, additional long-lived assets and interest rate swaps. Items included in "Other assets, net" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022 are detailed in the table below: Dollars in thousands March 31, 2023 December 31, 2022 Real estate notes receivable, net 1 $ 147,326 $ 99,643 Straight-line rent receivables 98,923 88,868 Prepaid assets 88,694 81,900 Above-market intangible assets, net 85,100 80,720 Accounts receivable, net 48,676 47,498 Additional long-lived assets, net 22,173 21,446 Interest rate swap assets 9,767 14,512 Investment in securities 2 6,011 6,011 Other receivables, net 5,962 7,169 Debt issuance costs, net 5,449 5,977 Project costs 4,900 4,337 Net investment in lease 1,828 1,828 Customer relationship intangible assets, net 1,106 1,120 Other 8,505 8,961 $ 534,420 $ 469,990 1 This amount includes an allowance for credit losses. See Note 1 for additional information. 2 This amount represents the value of the Company's preferred stock investment in a data analytics platform. Accounts Payable and Accrued Liabilities The following table provides details of the items included in "Accounts payable and accrued liabilities" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Accrued property taxes $ 48,629 $ 78,185 Accounts payable and capital expenditures 35,128 57,352 Accrued interest 28,483 50,037 Other operating accruals 42,970 58,459 $ 155,210 $ 244,033 Other Liabilities The following table provides details of the items included in "Other liabilities" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Below-market intangible liabilities, net $ 96,214 $ 97,935 Deferred revenue 90,979 87,325 Security deposits 29,020 28,521 Interest rate swap liability 11,927 4,269 Other 3,889 618 $ 232,029 $ 218,668

Notes and Bonds Payable

Notes and Bonds Payable	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Notes and Bonds Payable	Notes and Bonds Payable The table below details the Company’s notes and bonds payable as of March 31, 2023 and December 31, 2022. MATURITY DATES BALANCE 1 AS OF EFFECTIVE INTEREST RATE Dollars in thousands 3/31/2023 12/31/2022 $1.5 billion Unsecured Credit Facility 10/25 $ 385,000 $ 385,000 5.76 % $350 million Unsecured Term Loan 2 7/23 349,494 349,114 5.72 % $200 million Unsecured Term Loan 5/24 199,728 199,670 5.72 % $300 million Unsecured Term Loan 10/25 299,941 299,936 5.72 % $150 million Unsecured Term Loan 6/26 149,532 149,495 5.72 % $200 million Unsecured Term Loan 7/27 199,397 199,362 5.72 % $300 million Unsecured Term Loan 1/28 297,974 297,869 5.72 % Senior Notes due 2025 5/25 249,206 249,115 4.12 % Senior Notes due 2026 8/26 573,410 571,587 4.94 % Senior Notes due 2027 7/27 480,578 479,553 4.76 % Senior Notes due 2028 1/28 296,995 296,852 3.85 % Senior Notes due 2030 2/30 567,863 565,402 5.30 % Senior Notes due 2030 3/30 296,479 296,385 2.72 % Senior Notes due 2031 3/31 295,671 295,547 2.25 % Senior Notes due 2031 3/31 636,819 632,693 5.13 % Mortgage notes payable 8/23-12/26 83,612 84,247 3.57%-4.84% $ 5,361,699 $ 5,351,827 . 1 Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023, the Company had 14 outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: EXPIRATION DATE AMOUNT WEIGHTED January 15, 2024 $ 200,000 1.21 % May 1, 2026 100,000 2.15 % June 1, 2026 150,000 3.83 % December 1, 2026 150,000 3.84 % June 1, 2027 150,000 4.13 % December 1, 2027 250,000 3.79 % $ 1,000,000 3.17 % 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 March 31, 2023. BALANCE AT MARCH 31, 2023 In thousands BALANCE SHEET LOCATION FAIR VALUE Derivatives designated as hedging instruments Interest rate swaps Other liabilities $ (11,927) Interest rate swaps Other assets $ 9,767 Total derivatives designated as hedging instruments $ (2,160) 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 months ended March 31, 2023 and 2022 related to the Company's outstanding interest rate swaps. (GAIN)/LOSS RECOGNIZED IN (GAIN)/LOSS RECLASSIFIED FROM In thousands 2023 2022 2023 2022 Interest rate swaps $ 8,541 $ (5,159) Interest expense $ (2,433) $ 937 Settled treasury hedges — — Interest expense 107 107 Settled interest rate swaps — — Interest expense 42 42 $ 8,541 $ (5,159) Total interest expense $ (2,284) $ 1,086 The Company estimates that an additional $9.5 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 an additional $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 March 31, 2023, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $7.0 million. As of March 31, 2023, 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	3 Months Ended
	Mar. 31, 2023
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. Development and Redevelopment Activity During the first quarter of 2023, the Company funded $16.9 million toward the development and redevelopment of properties.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
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 three months ended March 31, 2023 and the twelve months ended December 31, 2022: THREE MONTHS ENDED MARCH 31, 2023 TWELVE MONTHS ENDED DECEMBER 31, 2022 Balance, beginning of period 380,589,894 150,457,433 Issuance of common stock 3,130 229,618,304 Non-vested share-based awards, net of withheld shares 223,405 514,157 Balance, end of period 380,816,429 380,589,894 At-The-Market Equity Offering Program The Company has equity distribution agreements with various sales agents with respect to the at-the-market (“ATM”) offering program of common stock with an aggregate sales amount of up to $750.0 million. As of March 31, 2023, $750.0 million remained available for issuance under our current ATM offering program. During the three months ended March 31, 2023, the Company did not sell any shares or enter into any forward sale agreements to sell shares of common stock through its ATM offering program. Common Stock Dividends During the three months ended March 31, 2023, the Company declared and paid common stock dividends totaling $0.31 per share. On May 2, 2023, the Company declared a quarterly common stock dividend in the amount of $0.31 per share payable on June 2, 2023 to stockholders of record on May 16, 2023. 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. The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2023 and 2022. THREE MONTHS ENDED MARCH 31, Dollars in thousands, except per share data 2023 2022 Weighted average common shares outstanding Weighted average common shares outstanding 380,796,773 150,834,888 Non-vested shares (1,956,353) (1,871,858) Weighted average common shares outstanding - basic 378,840,420 148,963,030 Weighted average common shares outstanding - basic 378,840,420 148,963,030 Dilutive effect of employee stock purchase plan — 88,234 Weighted average common shares outstanding - diluted 378,840,420 149,051,264 Net (loss) income attributable to common stockholders $ (87,125) $ 42,227 Dividends paid on nonvested share-based awards (605) (605) Net (loss) income applicable to common stockholders - basic $ (87,730) $ 41,622 Basic earnings per common share - net income $ (0.23) $ 0.28 Diluted earnings per common share - net income $ (0.23) $ 0.28 The effect of OP units totaling 4,042,993 shares, non-vested stock awards totaling 401,937 shares, and options under the Company's Employee Stock Purchase Plan (the "ESPP") to purchase the Company's common stock totaling 49,322 shares for the three months ended March 31, 2023 were excluded from the calculation of diluted loss per common share because the effect was anti-dilutive due to the loss from continuing operations incurred during that period. Incentive Plans Restricted Common Shares During the three months ended March 31, 2023, 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 $5.4 million, which consisted of an aggregate of 270,494 non-vested shares with vesting periods ranging from three A summary of the activity under the Company's share-based incentive plans for the three months ended March 31, 2023 and 2022 is included in the table below. THREE MONTHS ENDED MARCH 31, 2023 2022 Share-based awards, beginning of period 1,795,128 1,562,028 Granted 282,540 415,184 Vested (101,720) (24,365) Forfeited (20,503) (1,296) Share-based awards, end of period 1,955,445 1,951,551 During the three months ended March 31, 2023 and 2022, the Company withheld 38,632 and 6,727 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 4, 2023, the Company granted RSUs to members of senior management, with a grant date fair value of $3.7 million, which consisted of an aggregate 165,174 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 $24.23 for the absolute TSR component and $27.84 for the relative TSR component for the January 2023 grant using the following assumptions: THREE MONTHS ENDED MARCH 31, Volatility 34.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.42 % Stock price (per share) $20.21 The remaining 57% of the RSUs vest based upon certain operating performance conditions. With respect to the operating performance conditions of the January 4, 2023 grant, the grant date fair value was $20.21 based on the Company's share price on the date of grant. The combined weighted average grant date fair value of the January RSUs was $22.55 per share. The following is a summary of the RSU activity during the three months ended March 31, 2023: Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested, beginning of period 294,932 $ 33.04 Granted 165,174 22.55 Vested/Forfeited (17,606) 33.04 Probability adjustment of 2022 RSUs (79,250) 31.68 Non-vested, end of period 363,250 $ 28.57 LTIP Series C Units In January 2023, the Company modified its incentive compensation structure to award LTIP Series C units ("LTIP-C units) in the OP to named executive officers in lieu of RSUs. The LTIP-C units are granted with three-year forward-looking performance targets, with a grant date fair value of $7.1 million, which consisted of an aggregate 448,249 LTIP-C units with a five-year vesting period. Approximately 43% of the LTIP-C units vest based on two market performance conditions. Relative and absolute 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 $12.24 for the absolute TSR component and $13.98 for the relative TSR component for the January 2023 grant using the following assumptions: THREE MONTHS ENDED MARCH 31, Volatility 34.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.42 % Stock price (per share) $20.21 The remaining 57% of the LTIP-C units vest based upon certain operating performance conditions. With respect to the operating performance conditions of the January 4, 2023 grant, the grant date fair value was $20.21 based on the Company's share price on the date of grant. The combined weighted average grant date fair value of the January LTIP-C units was $15.85 per share. Employee Stock Purchase Plan Legacy HR maintained an ESPP prior to the completion of the Merger. The outstanding options to purchase shares of the common stock of Legacy HR became options to purchase class A common stock of the Company upon completion of the Merger. No new options will be granted under the ESPP. A summary of the activity under the ESPP for the three months ended March 31, 2023 and 2022 is included in the table below. THREE MONTHS ENDED MARCH 31, 2023 2022 Outstanding and exercisable, beginning of period 340,976 348,514 Granted — 255,960 Exercised (3,130) (10,553) Forfeited (21,421) (25,486) Expired (132,999) (140,633) Outstanding and exercisable, end of period 183,426 427,802 The following table represents expected amortization of the Company's non-vested shares issued as of March 31, 2023: Dollars in millions FUTURE AMORTIZATION 2023 $ 10.5 2024 12.5 2025 10.8 2026 8.1 2027 2.4 2028 and thereafter 0.5 Total $ 44.8

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
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. • Real estate notes receivabl e - Real estate notes receivable are recorded in other assets on the Company's Condensed Consolidated Balance Sheets. Fair value is estimated using cash flow analyses, based on current interest rates for similar types of arrangements. • 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, level 2 inputs, that consider forward yield curves and discount rates. The table below details the fair values and carrying values for notes and bonds payable and real estate notes receivable at March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1 $ 5,361.7 $ 5,185.0 $ 5,351.8 $ 5,149.6 Real estate notes receivable 1 $ 147.3 $ 146.4 $ 99.6 $ 99.6 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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. As of March 31, 2023, the Company had gross investments of approximately $13.9 billion in 681 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 681 real estate properties are located in 35 states and total approximately 39.9 million square feet. The Company provided leasing and property management services to approximately 39.5 million square feet nationwide. As of March 31, 2023, the Company had a weighted average ownership interest of approximately 44% in 34 real estate properties held in joint ventures. See Note 3 below 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 For purposes of this Quarterly Report on Form 10-Q, references to the “Company” are to Legacy HR for periods prior to the closing of the Merger and thereafter to Legacy HR and Legacy HTA as the combined company after giving effect to the Merger. The Merger is described in more detail in Note 2 to these Condensed Consolidated Financial Statements. 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 and specific disclosures incorporated as a result of the Merger, 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, 2022. 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, 2022. 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, 2023 for many reasons including, but not limited to, acquisitions, dispositions, capital financing transactions, changes in interest rates and the effects of other trends, risks and uncertainties.
Principles of consolidation	Principles of Consolidation The Company’s Condensed Consolidated Financial Statements include 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 (“ASC”) Topic 810, Consolidation 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, with any minority interests reflected as non-controlling interests or redeemable non-controlling interests in the accompanying Condensed Consolidated Financial Statements. 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, the disposition of all or a portion of an interest held by the primary beneficiary, or changes in facts and circumstances that impact the power to direct activities of the VIE that most significantly impacts economic performance. 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 entities 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. Healthcare Realty Holdings, L.P. (the "OP") is 98.8% owned by the Company. Holders of operating partnership units (“OP Units”) are considered to be non-controlling interest holders in the OP and their ownership interests are reflected as equity on the accompanying Condensed Consolidated Balance Sheets. Further, a portion of the earnings and losses of the OP are allocated to non-controlling interest holders based on their respective ownership percentages. Upon conversion of OP Units to common stock, any difference between the fair value of the common stock issued and the carrying value of the OP Units converted to common stock is recorded as a component of equity. As of March 31, 2023, there were approximately 4.7 million, or 1.2%, of OP Units issued and outstanding held by non-controlling interest holders. Additionally, the Company is the primary beneficiary of this VIE. Accordingly, the Company consolidates the interests in the OP. As of March 31, 2023, the Company had three consolidated VIEs in addition to the OP where it is the primary beneficiary of the VIE based on the combination of operational control and the rights to receive residual returns or the obligation to absorb losses arising from the joint ventures. Accordingly, such joint ventures have been consolidated, and the table below summarizes the balance sheets of consolidated VIEs, excluding the OP, in the aggregate: (dollars in thousands) MARCH 31, 2023 Assets: Net real estate investments $ 48,079 Cash and cash equivalents 1,517 Receivables and other assets 2,339 Total assets $ 51,935 Liabilities: Accrued expenses and other liabilities $ 12,010 Total equity 39,925 Total liabilities and equity $ 51,935 As of March 31, 2023, the Company had three unconsolidated VIEs consisting of two notes receivables and one joint venture. The Company does not have the power or economics to direct the activities of the VIEs on a stand-alone basis, and therefore it was determined that the Company was not the primary beneficiary. As a result, the Company accounts for the two notes receivables as amortized cost and a joint venture arrangement under the equity method. See below for additional information regarding the Company's unconsolidated VIEs. (dollars in thousands) ORIGINATION DATE LOCATION SOURCE CARRYING AMOUNT MAXIMUM EXPOSURE TO LOSS 2021 Houston, TX 1 Note receivable $ 30,839 $ 31,150 2021 Charlotte, NC 1 Note receivable 5,639 6,000 2022 Texas 2 Joint venture 66,038 66,038 1 Assumed mortgage note receivable in connection with the Merger. 2 Includes investments in seven properties.
Variable Interest Entities	As of March 31, 2023, 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.
Reclassifications	Reclassifications Certain reclassifications have been made on the Company's prior year Condensed Consolidated Balance Sheet to conform to current year presentation. Previously, the Company's Lease intangibles were included in Building, improvements and lease intangibles and Goodwill was included with Other assets, net. These amounts are now classified as separate line items on the Company's Condensed Consolidated Balance Sheets.
Redeemable non-controlling interests	Redeemable Non-Controlling InterestsThe Company accounts for redeemable equity securities in accordance with Accounting Standards Codification Topic 480: Accounting for Redeemable Equity Instruments, which requires that equity securities redeemable at the option of the holder, not solely within our control, be classified outside permanent stockholders’ equity. The Company classifies redeemable equity securities as redeemable non-controlling interests in the accompanying Condensed Consolidated Balance Sheet. Accordingly, the Company records the carrying amount at the greater of the initial carrying amount (increased or decreased for the non-controlling interest’s share of net income or loss and distributions) or the redemption value. We measure the redemption value and record an adjustment to the carrying value of the equity securities as a component of redeemable non-controlling interest.
Investments in Leases - Financing Receivables, Net	Investments in Leases - Financing Receivables, Net In accordance with 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”. Real Estate Notes Receivable Real estate notes receivable consists of mezzanine and other real estate loans, which are generally collateralized by a pledge of the borrower’s ownership interest in the respective real estate owner, a mortgage or deed of trust, and/or corporate guarantees. Real estate notes receivable are intended to be held-to-maturity and are recorded at amortized cost, net of unamortized loan origination costs and fees and allowance for credit losses. As of March 31, 2023, real estate notes receivable, net, which are included in Other assets on the Company's Condensed Consolidated Balance Sheets, totaled $147.3 million. (dollars in thousands) ORIGINATION MATURITY STATED INTEREST RATE MAXIMUM LOAN COMMITMENT OUTSTANDING as of Mezzanine loan Texas 6/24/2021 6/24/2024 8.00 % 54,119 54,119 Mortgage loans Texas 6/30/2021 12/31/2023 7.00 % 31,150 31,150 North Carolina 12/22/2021 12/22/2024 8.00 % 6,000 6,000 Florida 5/17/2022 2/27/2026 6.00 % 65,000 19,367 California 3/30/2023 3/29/2026 6.00 % 45,000 45,000 $ 147,150 $ 101,517 Accrued interest 1,428 Allowance for credit losses (5,196) Fair-value discount and fees (4,542) $ 147,326 Allowance for Credit Losses Pursuant to ASC Topic 326, Financial Instruments - Credit Losses, the Company adopted a policy to evaluate current expected credit losses at the inception of loans qualifying for treatment under Topic 326. The Company utilizes a probability of default method approach for estimating current expected credit losses and evaluates the liquidity and creditworthiness of its borrowers on a quarterly basis to determine whether any updates to the future expected losses recognized upon inception are necessary. The Company’s evaluation considers industry and economic conditions, credit enhancements, liquidity, and other factors. In its assessment of current expected credit losses for real estate notes receivable, the Company utilizes past payment history of its borrowers, current economic conditions, and forecasted economic conditions through the maturity date of each note to estimate a probability of default and a resulting loss for each real estate note receivable. During the three months ended March 31, 2023, the Company determined that the risk of credit loss on its mezzanine loans was no longer remote. Consequently, the Company recorded a credit loss reserve of $5.2 million for the three months ended March 31, 2023. The following table summarizes the Company's allowance for credit losses on real estate notes receivable: Dollars in thousands March 31, 2023 December 31, 2022 Allowance for credit losses, beginning of period $ — $ — Credit loss reserves $ 5,196 — Allowance for credit losses, end of period $ 5,196 $ — Interest Income Income from Lease Financing Receivables For the three months ended March 31, 2023, the Company recognized the related income from two financing receivables totaling $1.5 million 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. Income from Real Estate Notes Receivable
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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Condensed Balance Sheet	Accordingly, such joint ventures have been consolidated, and the table below summarizes the balance sheets of consolidated VIEs, excluding the OP, in the aggregate: (dollars in thousands) MARCH 31, 2023 Assets: Net real estate investments $ 48,079 Cash and cash equivalents 1,517 Receivables and other assets 2,339 Total assets $ 51,935 Liabilities: Accrued expenses and other liabilities $ 12,010 Total equity 39,925 Total liabilities and equity $ 51,935
Schedule of Variable Interest Entities	, the Company accounts for the two notes receivables as amortized cost and a joint venture arrangement under the equity method. See below for additional information regarding the Company's unconsolidated VIEs. (dollars in thousands) ORIGINATION DATE LOCATION SOURCE CARRYING AMOUNT MAXIMUM EXPOSURE TO LOSS 2021 Houston, TX 1 Note receivable $ 30,839 $ 31,150 2021 Charlotte, NC 1 Note receivable 5,639 6,000 2022 Texas 2 Joint venture 66,038 66,038 1 Assumed mortgage note receivable in connection with the Merger. 2 Includes investments in seven properties.
Schedule of Accounts, Notes, Loans and Financing Receivable	(dollars in thousands) ORIGINATION MATURITY STATED INTEREST RATE MAXIMUM LOAN COMMITMENT OUTSTANDING as of Mezzanine loan Texas 6/24/2021 6/24/2024 8.00 % 54,119 54,119 Mortgage loans Texas 6/30/2021 12/31/2023 7.00 % 31,150 31,150 North Carolina 12/22/2021 12/22/2024 8.00 % 6,000 6,000 Florida 5/17/2022 2/27/2026 6.00 % 65,000 19,367 California 3/30/2023 3/29/2026 6.00 % 45,000 45,000 $ 147,150 $ 101,517 Accrued interest 1,428 Allowance for credit losses (5,196) Fair-value discount and fees (4,542) $ 147,326
Schedule of Company's Allowance For Credit Losses	The following table summarizes the Company's allowance for credit losses on real estate notes receivable: Dollars in thousands March 31, 2023 December 31, 2022 Allowance for credit losses, beginning of period $ — $ — Credit loss reserves $ 5,196 — Allowance for credit losses, end of period $ 5,196 $ —
Schedule of Disaggregation of revenue	Below is a detail of the amounts by category: THREE MONTHS ENDED in thousands 2023 2022 Type of Revenue Parking income $ 2,391 $ 1,753 Management fee income 1 1,973 655 Miscellaneous 254 67 $ 4,618 $ 2,475

Merger with HTA (Tables)

Merger with HTA (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Consideration Transferred	The implied consideration transferred on the Closing Date is as follows: Dollars in thousands, except for per share data Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (a) 228,520,990 Exchange ratio 1.00 Implied shares of Legacy HR Common Stock issued 228,520,990 Adjusted closing price of Legacy HR Common Stock on July 20, 2022 (b) $ 24.37 Value of implied Legacy HR Common Stock issued $ 5,569,057 Fair value of Legacy HTA restricted stock awards attributable to pre-Merger services (c) 7,406 Consideration transferred $ 5,576,463 (a) The number of shares of Legacy HTA Common Stock presented above was based on 228,857,717 total shares of Legacy HTA Common Stock outstanding as of the Closing Date, less 192 HTA fractional shares that were cancelled in lieu of cash and less 336,535 shares of Legacy HTA restricted stock (net of 215,764 shares of Legacy HTA restricted stock withheld). For accounting purposes, these shares were converted to Legacy HR Common Stock, at an exchange ratio of 1.00 share of Legacy HR Common Stock per share of Legacy HTA Common Stock. (b) For accounting purposes, the fair value of Legacy HR Common Stock issued to former holders of Legacy HTA Common Stock was based on the per share closing price of Legacy HR Common Stock on July 20, 2022.
Schedule of Fair Values of the Assets Acquired And Liabilities Assumed	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the Closing Date: Dollars in thousands PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE MEASUREMENT PERIOD ADJUSTMENTS PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE ASSETS Real estate investments Land $ 985,926 $ 6,285 $ 992,211 Buildings and improvements 6,960,418 (121,413) 6,839,005 Lease intangible assets (a) 831,920 1,847 833,767 Financing lease right-of-use assets 9,874 3,146 13,020 Construction in progress 10,071 (6,744) 3,327 Land held for development 46,538 — 46,538 Total real estate investments $ 8,844,747 $ (116,879) $ 8,727,868 Assets held for sale, net 707,442 (7,946) 699,496 Investments in unconsolidated joint ventures 67,892 — 67,892 Cash and cash equivalents 26,034 11,403 37,437 Restricted cash 1,123,647 (1,247) 1,122,400 Operating lease right-of-use assets 198,261 17,786 216,047 Other assets, net (b) (c) 209,163 (3,840) 205,323 Total assets acquired $ 11,177,186 $ (100,723) $ 11,076,463 LIABILITIES Notes and bonds payable $ 3,991,300 $ — $ 3,991,300 Accounts payable and accrued liabilities 1,227,570 17,374 1,244,944 Liabilities of assets held for sale 28,677 (3,939) 24,738 Operating lease liabilities 173,948 10,173 184,121 Financing lease liabilities 10,720 (855) 9,865 Other liabilities 203,210 (11,544) 191,666 Total liabilities assumed $ 5,635,425 $ 11,209 $ 5,646,634 Net identifiable assets acquired $ 5,541,761 $ (111,932) $ 5,429,829 Non-controlling interest $ 110,702 $ — $ 110,702 Goodwill $ 145,404 $ 111,932 $ 257,336 (a) The weighted average amortization period for the acquired lease intangible assets is approximately 6 years. (b) Includes $15.9 million of contractual accounts receivable, which approximates fair value. (c) Includes $78.7 million of gross contractual real estate notes receivable, the fair value of which was $74.8 million, and the Company preliminarily expects to collect substantially all of the real estate notes receivable proceeds as of the Closing Date. The cumulative measurement period adjustments recorded through March 31, 2023 primarily resulted from updated valuations related to the Company’s real estate assets and liabilities and additional information obtained by the Company related to the properties acquired in the Merger and their respective tenants, and resulted in an increase to goodwill of $111.9 million.

Real Estate Investments (Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Acquisitions	The following table details the Company's real estate acquisition activity for the three months ended March 31, 2023: Dollars in thousands DATE ACQUIRED PURCHASE PRICE CASH 1 REAL OTHER 2 SQUARE FOOTAGE Tampa, FL 3/10/23 $ 31,500 $ 30,499 $ 30,596 $ (97) 115,867 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.
Schedule of equity method investments	The Company's investment in and loss recognized for the three months ended March 31, 2023 and 2022 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below: THREE MONTHS ENDED Dollars in thousands 2023 2022 Investments in unconsolidated joint ventures, beginning of period $ 327,248 $ 161,942 New investment during the period 1 3,824 49,598 Equity loss recognized during the period (780) (345) Owner distributions (2,546) — Investments in unconsolidated joint ventures, end of period $ 327,746 $ 211,195 1 This was an additional investment in an existing joint venture representing a 40% ownership interest in a property in Dallas, Texas. Also, see 2023 Real Estate Asset Dispositions below for additional information.
Schedule of real estate dispositions	The following table details the Company's dispositions for the three months ended March 31, 2023: Dollars in thousands DATE DISPOSED SALE PRICE CLOSING ADJUSTMENTS COMPANY-FINANCED MORTGAGE NOTES NET PROCEEDS NET REAL ESTATE INVESTMENT OTHER (INCLUDING RECEIVABLES) 1 GAIN/(IMPAIRMENT) SQUARE FOOTAGE Tampa, FL & Miami, FL 2 1/12/23 $ 93,250 $ (5,875) $ — $ 87,375 $ 87,302 $ (888) $ 961 224,037 Dallas, TX 3 1/30/23 19,210 (141) — 19,069 18,986 43 40 36,691 St. Louis, MO 2/10/23 350 (18) — 332 398 — (66) 6,500 Los Angeles, CA 3/23/23 21,000 (526) — 20,474 20,610 52 (188) 37,165 Los Angeles, CA 4 3/30/23 75,000 (8,079) (45,000) 21,921 88,624 (803) (20,900) 147,078 Total dispositions $ 208,810 $ (14,639) $ (45,000) $ 149,171 $ 215,920 $ (1,596) $ (20,153) 451,471 1 Includes straight-line rent receivables, leasing commissions and lease inducements. 2 Includes two properties, sold in two separate transactions to the same buyer on the same date. 3 The Company sold this property to a joint venture in which it retained a 40% interest. Sales price and square footage reflect the total sales price paid by the joint venture and total square footage of the property. 4 The Company entered into a mortgage note agreement with the buyer for $45 million.
Schedule of assets and liabilities held for sale	The table below reflects the assets and liabilities classified as held for sale as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Balance Sheet data: Land $ 205 $ 1,700 Building and improvements 1,736 15,164 Lease intangibles 2,242 1,986 Land held for development 3,251 — 7,434 18,850 Accumulated depreciation (4,183) — Real estate assets held for sale, net 3,251 18,850 Other assets, net 328 43 Assets held for sale, net $ 3,579 $ 18,893 Accounts payable and accrued liabilities $ 277 $ 282 Other liabilities — 155 Liabilities of assets held for sale $ 277 $ 437

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 were as follows: Dollars in thousands OPERATING 2023 $ 695,787 2024 833,006 2025 720,985 2026 620,118 2027 539,486 2028 and thereafter 1,854,402 $ 5,263,784
Future Minimum Operating Lease Payments	The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of March 31, 2023 were as follows: Dollars in thousands OPERATING FINANCING 2023 $ 11,188 $ 1,491 2024 15,239 2,182 2025 14,827 2,218 2026 14,863 2,255 2027 14,933 2,294 2028 and thereafter 939,392 396,398 Total undiscounted lease payments 1,010,442 406,838 Discount (730,805) (333,645) Lease liabilities $ 279,637 $ 73,193
Future Minimum Financing Lease Payments	The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of March 31, 2023 were as follows: Dollars in thousands OPERATING FINANCING 2023 $ 11,188 $ 1,491 2024 15,239 2,182 2025 14,827 2,218 2026 14,863 2,255 2027 14,933 2,294 2028 and thereafter 939,392 396,398 Total undiscounted lease payments 1,010,442 406,838 Discount (730,805) (333,645) Lease liabilities $ 279,637 $ 73,193
Lease Cost	The following table provides details of the Company's total lease expense for the three months ended March 31, 2023 and 2022: THREE MONTHS ENDED Dollars in thousands 2023 2022 Operating lease cost Operating lease expense $ 5,107 $ 1,215 Variable lease expense 2,136 1,024 Finance lease cost Amortization of right-of-use assets 388 172 Interest on lease liabilities 918 287 Total lease expense $ 8,549 $ 2,698 Other information Operating cash flows outflows related to operating leases $ 5,960 $ 2,797 Operating cash flows outflows related to financing leases $ 553 $ 258 Financing cash flows outflows related to financing leases $ 101 $ 257 Right-of-use assets obtained in exchange for new finance lease liabilities $ — $ 40,589 Weighted-average years remaining lease term (excluding renewal options) - operating leases 47.4 47.6 Weighted-average years remaining lease term (excluding renewal options) - finance leases 58.7 61.9 Weighted-average discount rate - operating leases 5.8 % 5.6 % Weighted-average discount rate - finance leases 5.0 % 5.0 %

Other Assets and Liabilities (T

Other Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Assets	Other assets consist primarily of intangible assets, prepaid assets, real estate notes receivable, straight-line rent receivables, accounts receivable, additional long-lived assets and interest rate swaps. Items included in "Other assets, net" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022 are detailed in the table below: Dollars in thousands March 31, 2023 December 31, 2022 Real estate notes receivable, net 1 $ 147,326 $ 99,643 Straight-line rent receivables 98,923 88,868 Prepaid assets 88,694 81,900 Above-market intangible assets, net 85,100 80,720 Accounts receivable, net 48,676 47,498 Additional long-lived assets, net 22,173 21,446 Interest rate swap assets 9,767 14,512 Investment in securities 2 6,011 6,011 Other receivables, net 5,962 7,169 Debt issuance costs, net 5,449 5,977 Project costs 4,900 4,337 Net investment in lease 1,828 1,828 Customer relationship intangible assets, net 1,106 1,120 Other 8,505 8,961 $ 534,420 $ 469,990 1 This amount includes an allowance for credit losses. See Note 1 for additional information. 2 This amount represents the value of the Company's preferred stock investment in a data analytics platform.
Schedule of Accounts Payable and Accrued Liabilities	The following table provides details of the items included in "Accounts payable and accrued liabilities" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Accrued property taxes $ 48,629 $ 78,185 Accounts payable and capital expenditures 35,128 57,352 Accrued interest 28,483 50,037 Other operating accruals 42,970 58,459 $ 155,210 $ 244,033
Schedule of Other Liabilities	The following table provides details of the items included in "Other liabilities" on the Company's Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022: Dollars in thousands March 31, 2023 December 31, 2022 Below-market intangible liabilities, net $ 96,214 $ 97,935 Deferred revenue 90,979 87,325 Security deposits 29,020 28,521 Interest rate swap liability 11,927 4,269 Other 3,889 618 $ 232,029 $ 218,668

Notes and Bonds Payable (Tables

Notes and Bonds Payable (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of debt	The table below details the Company’s notes and bonds payable as of March 31, 2023 and December 31, 2022. MATURITY DATES BALANCE 1 AS OF EFFECTIVE INTEREST RATE Dollars in thousands 3/31/2023 12/31/2022 $1.5 billion Unsecured Credit Facility 10/25 $ 385,000 $ 385,000 5.76 % $350 million Unsecured Term Loan 2 7/23 349,494 349,114 5.72 % $200 million Unsecured Term Loan 5/24 199,728 199,670 5.72 % $300 million Unsecured Term Loan 10/25 299,941 299,936 5.72 % $150 million Unsecured Term Loan 6/26 149,532 149,495 5.72 % $200 million Unsecured Term Loan 7/27 199,397 199,362 5.72 % $300 million Unsecured Term Loan 1/28 297,974 297,869 5.72 % Senior Notes due 2025 5/25 249,206 249,115 4.12 % Senior Notes due 2026 8/26 573,410 571,587 4.94 % Senior Notes due 2027 7/27 480,578 479,553 4.76 % Senior Notes due 2028 1/28 296,995 296,852 3.85 % Senior Notes due 2030 2/30 567,863 565,402 5.30 % Senior Notes due 2030 3/30 296,479 296,385 2.72 % Senior Notes due 2031 3/31 295,671 295,547 2.25 % Senior Notes due 2031 3/31 636,819 632,693 5.13 % Mortgage notes payable 8/23-12/26 83,612 84,247 3.57%-4.84% $ 5,361,699 $ 5,351,827 . 1 Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)	As of March 31, 2023, the Company had 14 outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: EXPIRATION DATE AMOUNT WEIGHTED January 15, 2024 $ 200,000 1.21 % May 1, 2026 100,000 2.15 % June 1, 2026 150,000 3.83 % December 1, 2026 150,000 3.84 % June 1, 2027 150,000 4.13 % December 1, 2027 250,000 3.79 % $ 1,000,000 3.17 % (GAIN)/LOSS RECOGNIZED IN (GAIN)/LOSS RECLASSIFIED FROM In thousands 2023 2022 2023 2022 Interest rate swaps $ 8,541 $ (5,159) Interest expense $ (2,433) $ 937 Settled treasury hedges — — Interest expense 107 107 Settled interest rate swaps — — Interest expense 42 42 $ 8,541 $ (5,159) Total interest expense $ (2,284) $ 1,086
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 March 31, 2023. BALANCE AT MARCH 31, 2023 In thousands BALANCE SHEET LOCATION FAIR VALUE Derivatives designated as hedging instruments Interest rate swaps Other liabilities $ (11,927) Interest rate swaps Other assets $ 9,767 Total derivatives designated as hedging instruments $ (2,160)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
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 three months ended March 31, 2023 and the twelve months ended December 31, 2022: THREE MONTHS ENDED MARCH 31, 2023 TWELVE MONTHS ENDED DECEMBER 31, 2022 Balance, beginning of period 380,589,894 150,457,433 Issuance of common stock 3,130 229,618,304 Non-vested share-based awards, net of withheld shares 223,405 514,157 Balance, end of period 380,816,429 380,589,894
Earnings (loss) per share	The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2023 and 2022. THREE MONTHS ENDED MARCH 31, Dollars in thousands, except per share data 2023 2022 Weighted average common shares outstanding Weighted average common shares outstanding 380,796,773 150,834,888 Non-vested shares (1,956,353) (1,871,858) Weighted average common shares outstanding - basic 378,840,420 148,963,030 Weighted average common shares outstanding - basic 378,840,420 148,963,030 Dilutive effect of employee stock purchase plan — 88,234 Weighted average common shares outstanding - diluted 378,840,420 149,051,264 Net (loss) income attributable to common stockholders $ (87,125) $ 42,227 Dividends paid on nonvested share-based awards (605) (605) Net (loss) income applicable to common stockholders - basic $ (87,730) $ 41,622 Basic earnings per common share - net income $ (0.23) $ 0.28 Diluted earnings per common share - net income $ (0.23) $ 0.28
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 months ended March 31, 2023 and 2022 is included in the table below. THREE MONTHS ENDED MARCH 31, 2023 2022 Share-based awards, beginning of period 1,795,128 1,562,028 Granted 282,540 415,184 Vested (101,720) (24,365) Forfeited (20,503) (1,296) Share-based awards, end of period 1,955,445 1,951,551 The following is a summary of the RSU activity during the three months ended March 31, 2023: Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested, beginning of period 294,932 $ 33.04 Granted 165,174 22.55 Vested/Forfeited (17,606) 33.04 Probability adjustment of 2022 RSUs (79,250) 31.68 Non-vested, end of period 363,250 $ 28.57
Schedule of stock options, valuation assumptions	THREE MONTHS ENDED MARCH 31, Volatility 34.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.42 % Stock price (per share) $20.21 THREE MONTHS ENDED MARCH 31, Volatility 34.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.42 % Stock price (per share) $20.21
Summary of employee stock purchase plan activity	A summary of the activity under the ESPP for the three months ended March 31, 2023 and 2022 is included in the table below. THREE MONTHS ENDED MARCH 31, 2023 2022 Outstanding and exercisable, beginning of period 340,976 348,514 Granted — 255,960 Exercised (3,130) (10,553) Forfeited (21,421) (25,486) Expired (132,999) (140,633) Outstanding and exercisable, end of period 183,426 427,802
Schedule of unrecognized compensation cost, nonvested awards	The following table represents expected amortization of the Company's non-vested shares issued as of March 31, 2023: Dollars in millions FUTURE AMORTIZATION 2023 $ 10.5 2024 12.5 2025 10.8 2026 8.1 2027 2.4 2028 and thereafter 0.5 Total $ 44.8

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value And Carrying Values For Notes And Bonds Payable, Real Estate Notes Receivable, And Notes Receivable	The table below details the fair values and carrying values for notes and bonds payable and real estate notes receivable at March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1 $ 5,361.7 $ 5,185.0 $ 5,351.8 $ 5,149.6 Real estate notes receivable 1 $ 147.3 $ 146.4 $ 99.6 $ 99.6 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Thousands, shares in Millions, ft² in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) ft² financing_receivable state variable_interest_entity joint_venture property building note_receivable shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Business Overview:
Gross investment amount, total	$ 13,900,000
Number of real estate properties | property	681
Number of owned real estate properties | property	681
Number of states that the company owns real estate in, whole units | state	35
Approximate square feet invested in by company | ft²	39.9
Approximate square feet for which Nationwide property management services provided by company | ft²	39.5
Number of buildings owned by joint venture with TIAA | building	34
Number of variable interest entities | variable_interest_entity	3
Equity ownership for consolidation (percent)	100%
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of variable interest entities | variable_interest_entity	3
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests [Abstract]
Redeemable non-controlling interests	$ 2,000		$ 2,014
Leases [Abstract]
Credit loss reserves	$ 5,196		$ 0
Number of recognized lease financial receivables | financing_receivable	2
Income from financing receivables	$ 1,500
Number of real estate notes receivable | financing_receivable	2
Financing receivable, nonaccrual	$ 54,100
Variable Interest Entity
Business Overview:
Number of variable interest entities | variable_interest_entity	3
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of variable interest entities | variable_interest_entity	3
Number of notes receivable | note_receivable	2
Number of joint ventures | joint_venture	1
Non-Controlling Interest Holders | Healthcare Trustof America Holdings L P
Business Overview:
Limited partner's capital, units outstanding (in shares) | shares	4.7
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Limited partner's capital, units outstanding (in shares) | shares	4.7
Limited partners ownership interest (in percent)	1.20%
Property Entities Not Determined to be VIEs
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity interest owned (percent)	100%
Healthcare Trustof America Holdings L P
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity interest owned (percent)	98.80%
Real Estate Properties Held in Joint Ventures
Business Overview:
Joint venture ownership (percent)	44%
Notes Receivable
Leases [Abstract]
Interest income	$ 2,000	$ 2,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Consolidated balance sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Real estate assets held for sale, net	$ 12,056,264	$ 12,412,354
Cash and cash equivalents	49,941	60,961
Total assets	13,568,884	13,849,631
Liabilities:
Total equity	7,358,628	7,571,076
Total liabilities and equity	13,568,884	$ 13,849,631
Variable interest entity
Assets:
Real estate assets held for sale, net	48,079
Cash and cash equivalents	1,517
Receivables and other assets	2,339
Total assets	51,935
Liabilities:
Accrued expenses and other liabilities	12,010
Total equity	39,925
Total liabilities and equity	$ 51,935

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Variable interest entity (Details) $ in Thousands	Mar. 31, 2023 USD ($) property
Variable Interest Entity [Line Items]
Number of owned real estate properties | property	681
Houston, TX | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	$ 30,839
Maximum exposure to loss	31,150
Charlotte, NC | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	5,639
Maximum exposure to loss	6,000
Texas | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Joint venture, carrying amount	66,038
Maximum exposure to loss	$ 66,038
Number of owned real estate properties | property	7

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Notes Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest	$ 1,428
Allowance for credit loss	(5,196)	$ 0	$ 0
Fair-value discount and fees	(4,542)
Investment in financing receivable, net	120,692	$ 120,236
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment in financing receivable, net	$ 147,326
Mezzanine Loans Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE	8%
MAXIMUM LOAN COMMITMENT	$ 54,119
REAL ESTATE NOTES RECEIVABLE, GROSS	$ 54,119
Mortgage Loan Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE	7%
MAXIMUM LOAN COMMITMENT	$ 31,150
REAL ESTATE NOTES RECEIVABLE, GROSS	$ 31,150
Mortgage Loan - North Carolina
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE	8%
MAXIMUM LOAN COMMITMENT	$ 6,000
REAL ESTATE NOTES RECEIVABLE, GROSS	$ 6,000
Mortgage Loan Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE	6%
MAXIMUM LOAN COMMITMENT	$ 65,000
REAL ESTATE NOTES RECEIVABLE, GROSS	$ 19,367
Mortgage Loan California
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE	6%
MAXIMUM LOAN COMMITMENT	$ 45,000
REAL ESTATE NOTES RECEIVABLE, GROSS	45,000
Mortgage Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
MAXIMUM LOAN COMMITMENT	147,150
REAL ESTATE NOTES RECEIVABLE, GROSS	$ 101,517

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Company's Allowance For Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0	$ 0
Credit loss reserves	5,196	0
Ending balance	$ 5,196	$ 0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Type of Revenue	$ 4,618	$ 2,475
Parking income
Disaggregation of Revenue [Line Items]
Type of Revenue	2,391	1,753
Management fee income
Disaggregation of Revenue [Line Items]
Type of Revenue	1,973	655
Miscellaneous
Disaggregation of Revenue [Line Items]
Type of Revenue	$ 254	$ 67

Merger with HTA - Narrative (De

Merger with HTA - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended
	Nov. 02, 2022	Jul. 20, 2022	May 09, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock, par value (dollars per share)				$ 0.01		$ 0.01
Dividends declared per common share, during the period (in dollars per share)	$ 0.31
Goodwill		$ 257,336,000		$ 260,822,000		$ 223,202,000
Goodwill expected to be tax deductible		$ 0
Merger-related costs				$ 4,855,000	$ 6,116,000
Subsequent event
Business Acquisition [Line Items]
Refund of transfer taxes paid			$ 17,800,000
HealthCare Realty Trust Incorporated | Common Class A
Business Acquisition [Line Items]
Common stock, par value (dollars per share)		$ 0.01
HealthCare Realty Trust, Inc.
Business Acquisition [Line Items]
Common stock, par value (dollars per share)		0.01
Healthcare Trust Of America, Inc
Business Acquisition [Line Items]
Common stock, par value (dollars per share)		$ 0.01
Conversion Ratio		1
Dividends declared per common share, during the period (in dollars per share)		$ 4.82

Merger with HTA (Details)

Merger with HTA (Details)		3 Months Ended
	Jul. 20, 2022 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 shares
Business Acquisition [Line Items]
Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (in shares)	228,857,717	380,816,000	380,590,000
Implied shares of Legacy HR Common Stock issued (in shares)	228,520,990
Adjusted closing price of Legacy HR Common Stock on July 20, 2022 (in dollars per share) | $ / shares	$ 24.37
Value of implied Legacy HR Common Stock issued | $	$ 5,569,057,000
Fair value of Legacy HTA restricted stock awards attributable to pre-Merger services | $		$ 7,406,000
Consideration transferred | $		$ 5,576,463,000
Healthcare Trust Of America, Inc
Business Acquisition [Line Items]
Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (in shares)	228,520,990
Exchange ratio	1
Common Stock, fractional (in shares)	192
Healthcare Trust Of America, Inc | Restricted stock
Business Acquisition [Line Items]
Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (in shares)	336,535
Common Stock, withheld (in shares)	215,764

Merger with HTA - Schedule of F

Merger with HTA - Schedule of Fair Values of the Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 20, 2022	Mar. 31, 2023	Dec. 31, 2022
Real estate investments
Land	$ 992,211
Buildings and improvements	6,839,005
Lease intangible assets	833,767
Financing lease right-of-use assets	13,020
Construction in progress	3,327
Land held for development	46,538
Total real estate investments	8,727,868
Assets held for sale, net	699,496
Investments in unconsolidated joint ventures	67,892
Cash and cash equivalents	37,437
Restricted cash	1,122,400
Operating lease right-of-use assets	216,047
Other assets, net	205,323
Total assets acquired	11,076,463
LIABILITIES
Notes and bonds payable	3,991,300
Accounts payable and accrued liabilities	1,244,944
Liabilities of assets held for sale	24,738
Operating lease liabilities	184,121
Financing lease liabilities	9,865
Other liabilities	191,666
Total liabilities assumed	5,646,634
Net identifiable assets acquired	5,429,829
Non-controlling interest	110,702
Goodwill	$ 257,336	$ 260,822	$ 223,202
Weighted average amortization period for the acquired lease intangible assets	6 years
Gross contractual accounts receivable	$ 15,900
Gross contractual real estate notes receivable	78,700
Gross contractual real estate notes receivable at fair value	74,800
MEASUREMENT PERIOD ADJUSTMENTS
Land	6,285
Buildings and improvements	(121,413)
Lease intangible assets	1,847
Financing lease right-of-use assets	3,146
Construction in progress	(6,744)
Total real estate investments	(116,879)
Assets held for sale, net	(7,946)
Cash and cash equivalents	11,403
Restricted cash	(1,247)
Operating lease right-of-use assets	17,786
Other assets, net	(3,840)
Total assets acquired	(100,723)
Accounts payable and accrued liabilities	17,374
Liabilities of assets held for sale	(3,939)
Operating lease liabilities	10,173
Financing lease liabilities	(855)
Other liabilities	(11,544)
Total liabilities assumed	11,209
Net identifiable assets acquired	(111,932)
Goodwill	111,932
Previously Reported
Real estate investments
Land	985,926
Buildings and improvements	6,960,418
Lease intangible assets	831,920
Financing lease right-of-use assets	9,874
Construction in progress	10,071
Land held for development	46,538
Total real estate investments	8,844,747
Assets held for sale, net	707,442
Investments in unconsolidated joint ventures	67,892
Cash and cash equivalents	26,034
Restricted cash	1,123,647
Operating lease right-of-use assets	198,261
Other assets, net	209,163
Total assets acquired	11,177,186
LIABILITIES
Notes and bonds payable	3,991,300
Accounts payable and accrued liabilities	1,227,570
Liabilities of assets held for sale	28,677
Operating lease liabilities	173,948
Financing lease liabilities	10,720
Other liabilities	203,210
Total liabilities assumed	5,635,425
Net identifiable assets acquired	5,541,761
Non-controlling interest	110,702
Goodwill	145,404
Revision of Prior Period, Adjustment
LIABILITIES
Goodwill adjustment incomplete	$ 111,900

Real Estate Investments - Acqui

Real Estate Investments - Acquisitions (Details) $ in Thousands		3 Months Ended
	Mar. 10, 2023 USD ($) ft²	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Purchase price		$ 5,576,463
Tampa, FL | Medical office building
Business Acquisition [Line Items]
Purchase price	$ 31,500
Cash consideration	30,499
Real estate	30,596
Other	$ (97)
Square footage | ft²	115,867

Real Estate Investments - Uncon

Real Estate Investments - Unconsolidated Joint Venture Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period	$ 327,248
Equity loss recognized during the period	(780)	$ (345)
Net LLC investments at the end of the period	327,746
Parking Garages
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period	327,248,000	161,942
New investments during the period	3,824,000	49,598
Equity loss recognized during the period	(780,000)	(345)
Owner distributions	(2,546,000)	0
Net LLC investments at the end of the period	$ 327,746,000	$ 211,195
Parking Garages | Los Angeles, CA | Limited Liability Company One
Equity Method Investments [Roll Forward]
Joint venture, ownership (in percentage)	40%

Real Estate Investments - Dispo

Real Estate Investments - Dispositions (Details) $ in Thousands						3 Months Ended
	Mar. 30, 2023 USD ($) ft²	Mar. 23, 2023 USD ($) ft²	Jan. 30, 2023 USD ($) ft²	Jan. 12, 2023 USD ($) ft² disposition_transaction property	Jul. 29, 2022 USD ($)	Mar. 31, 2023 USD ($) ft² property	Feb. 10, 2023 USD ($) ft²
Real Estate Dispositions [Line Items]
COMPANY-FINANCED MORTGAGE NOTES						$ (45,000)
Number of owned real estate properties | property						681
Mortgage note	$ 45,000
Real Estate Dispositions
Real Estate Dispositions [Line Items]
SALE PRICE						$ 208,810
CLOSING ADJUSTMENTS						(14,639)
NET PROCEEDS						149,171
NET REAL ESTATE INVESTMENT						215,920
Other (including receivables)						(1,596)
GAIN/(IMPAIRMENT)						$ (20,153)
SQUARE FOOTAGE | ft²						451,471
Tampa Fl & Miami FL
Real Estate Dispositions [Line Items]
SALE PRICE				$ 93,250
CLOSING ADJUSTMENTS				(5,875)
COMPANY-FINANCED MORTGAGE NOTES				0
NET PROCEEDS				87,375
NET REAL ESTATE INVESTMENT				87,302
Other (including receivables)				(888)
GAIN/(IMPAIRMENT)				$ 961
SQUARE FOOTAGE | ft²				224,037
Number of owned real estate properties | property				2
Number of property dispositions | disposition_transaction				2
Dallas, TX
Real Estate Dispositions [Line Items]
SALE PRICE			$ 19,210
CLOSING ADJUSTMENTS			(141)
COMPANY-FINANCED MORTGAGE NOTES			0
NET PROCEEDS			19,069
NET REAL ESTATE INVESTMENT			18,986
Other (including receivables)			43
GAIN/(IMPAIRMENT)			$ 40
SQUARE FOOTAGE | ft²			36,691
Joint venture, ownership (in percentage)			40%
St. Louis, MO
Real Estate Dispositions [Line Items]
SALE PRICE							$ 350
CLOSING ADJUSTMENTS							(18)
COMPANY-FINANCED MORTGAGE NOTES							0
NET PROCEEDS					$ 332
NET REAL ESTATE INVESTMENT							398
Other (including receivables)							$ 0
GAIN/(IMPAIRMENT)					$ (66)
SQUARE FOOTAGE | ft²							6,500
Los Angeles, CA
Real Estate Dispositions [Line Items]
SALE PRICE	75,000	$ 21,000
CLOSING ADJUSTMENTS	(8,079)	(526)
COMPANY-FINANCED MORTGAGE NOTES	(45,000)	0
NET PROCEEDS	21,921	20,474
NET REAL ESTATE INVESTMENT	88,624	20,610
Other (including receivables)	(803)	52
GAIN/(IMPAIRMENT)	$ (20,900)	$ (188)
SQUARE FOOTAGE | ft²	147,078	37,165

Real Estate Investments - Asset

Real Estate Investments - Assets Held for Sale (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) property land_parcel	Dec. 31, 2022 USD ($) property
Long Lived Assets Held-for-sale [Line Items]
Number of properties classified as held for sale | property	3	1
Number of land parcels classified as held for sale | land_parcel	1
Impairment charges on net real estate assets held for sale	$ 5,100
Land	1,412,805	$ 1,439,798
Building and improvements	11,196,297	11,332,037
Land held for development	69,575	74,265
Real estate investment property, at cost	13,866,357	14,057,625
Accumulated depreciation	(1,810,093)	(1,645,271)
Real estate assets held for sale, net	12,056,264	12,412,354
Assets held for sale, net	3,579	18,893
Liabilities of assets held for sale	277	437
Disposal Group, Held-for-sale, Not Discontinued Operations
Long Lived Assets Held-for-sale [Line Items]
Land	205	1,700
Building and improvements	1,736	15,164
Lease intangibles	2,242	1,986
Land held for development	3,251	0
Real estate investment property, at cost	7,434	18,850
Accumulated depreciation	(4,183)	0
Real estate assets held for sale, net	3,251	18,850
Other assets, net	328	43
Assets held for sale, net	3,579	18,893
Accounts payable and accrued liabilities	277	282
Other liabilities	0	155
Liabilities of assets held for sale	$ 277	$ 437

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessee, Lease, Description [Line Items]
Rental income	$ 324,093	$ 138,489

Leases - Lessor Accounting (Det

Leases - Lessor Accounting (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Future Operating Lease Payments Receivable [Abstract]
2023	$ 695,787
2024	833,006
2025	720,985
2026	620,118
2027	539,486
2028 and thereafter	1,854,402
Total	$ 5,263,784

Leases - Ground Leases (Details

Leases - Ground Leases (Details) ft² in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) ft² property lease	Mar. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Number of properties subject to ground leases	242
Square feet subject to ground leases | ft²	17.8
Number of prepaid ground leases | lease	75
Amortization of prepaid rent | $	$ 0.3	$ 0.1
Number of non-prepaid ground leases	167
Minimum
Lessee, Lease, Description [Line Items]
Ground lease, initial term	40 years
Maximum
Lessee, Lease, Description [Line Items]
Ground lease, initial term	99 years

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
OPERATING
2023	$ 11,188
2024	15,239
2025	14,827
2026	14,863
2027	14,933
2028 and thereafter	939,392
Total undiscounted lease payments	1,010,442
Discount	(730,805)
Lease liabilities	279,637	$ 279,895
FINANCING
2023	1,491
2024	2,182
2025	2,218
2026	2,255
2027	2,294
2028 and thereafter	396,398
Total undiscounted lease payments	406,838
Discount	(333,645)
Lease liabilities	$ 73,193	$ 72,939

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating lease cost
Operating lease expense	$ 5,107	$ 1,215
Variable lease expense	2,136	1,024
Finance lease cost
Amortization of right-of-use assets	388	172
Interest on lease liabilities	918	287
Total lease expense	8,549	2,698
Other information
Operating cash flows outflows related to operating leases	5,960	2,797
Operating cash flows outflows related to financing leases	553	258
Financing cash flows outflows related to financing leases	101	257
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 0	$ 40,589
Weighted-average years remaining lease term (excluding renewal options) - operating leases	47 years 4 months 24 days	47 years 7 months 6 days
Weighted-average years remaining lease term (excluding renewal options) - finance leases	58 years 8 months 12 days	61 years 10 months 24 days
Weighted-average discount rate - operating leases	5.80%	5.60%
Weighted-average discount rate - finance leases	5%	5%

Other Assets and Liabilities -

Other Assets and Liabilities - Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Real estate notes receivable, net	$ 147,326	$ 99,643
Straight-line rent receivables	98,923	88,868
Prepaid assets	88,694	81,900
Above-market intangible assets, net	85,100	80,720
Accounts receivable, net	48,676	47,498
Additional long-lived assets, net	22,173	21,446
Interest rate swap assets	9,767	14,512
Investment in securities	6,011	6,011
Other receivables, net	5,962	7,169
Debt issuance costs, net	5,449	5,977
Project costs	4,900	4,337
Net investment in lease	1,828	1,828
Customer relationship intangible assets, net	1,106	1,120
Other	8,505	8,961
Other Assets	$ 534,420	$ 469,990

Other Assets and Liabilities _2

Other Assets and Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued property taxes	$ 48,629	$ 78,185
Accounts payable and capital expenditures	35,128	57,352
Accrued interest	28,483	50,037
Other operating accruals	42,970	58,459
Accounts payable and accrued liabilities	$ 155,210	$ 244,033

Other Assets and Liabilities _3

Other Assets and Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Below-market intangible liabilities, net	$ 96,214	$ 97,935
Deferred revenue	90,979	87,325
Security deposits	29,020	28,521
Interest rate swap liability	11,927	4,269
Other	3,889	618
Other liabilities	$ 232,029	$ 218,668

Notes and Bonds Payable (Detail

Notes and Bonds Payable (Details) - USD ($)	1 Months Ended
	May 09, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Notes and bonds payable		$ 5,361,699,000	$ 5,351,827,000
Subsequent event
Debt Instrument [Line Items]
Extension period for maturity date	1 year
Debt fees	$ 400,000
Mortgage Notes Payable | Minimum
Debt Instrument [Line Items]
Effective interest rate		3.57%
Mortgage Notes Payable | Maximum
Debt Instrument [Line Items]
Effective interest rate		4.84%
Line of credit | $1.5 billion Unsecured Credit Facility
Debt Instrument [Line Items]
Notes and bonds payable		$ 385,000,000	385,000,000
Effective interest rate		5.76%
Credit facility		$ 1,500,000,000
Medium-term notes | $350 million Unsecured Term Loan due 2023, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 349,494,000	349,114,000
Effective interest rate		5.72%
Face amount		$ 350,000,000
Medium-term notes | $200 million Unsecured Term Loan due 2024, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 199,728,000	199,670,000
Effective interest rate		5.72%
Face amount		$ 200,000,000
Medium-term notes | $300 million Unsecured Term Loan due 2025, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 299,941,000	299,936,000
Effective interest rate		5.72%
Face amount		$ 300,000,000
Medium-term notes | $150 million Unsecured Term Loan due 2026, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 149,532,000	149,495,000
Effective interest rate		5.72%
Face amount		$ 150,000,000
Medium-term notes | $200 million Unsecured Term Loan due 2027, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 199,397,000	199,362,000
Effective interest rate		5.72%
Face amount		$ 200,000,000
Medium-term notes | $300 million Unsecured Term Loan due 2028, net of issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 297,974,000	297,869,000
Effective interest rate		5.72%
Face amount		$ 300,000,000
Senior notes | Senior Notes due 2025, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 249,206,000	249,115,000
Effective interest rate		4.12%
Senior notes | Senior Notes due 2026, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 573,410,000	571,587,000
Effective interest rate		4.94%
Senior notes | Senior Notes due 2027, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 480,578,000	479,553,000
Effective interest rate		4.76%
Senior notes | Senior Notes due 2028
Debt Instrument [Line Items]
Notes and bonds payable		$ 296,995,000	296,852,000
Effective interest rate		3.85%
Senior notes | Senior notes due 2030, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 567,863,000	565,402,000
Effective interest rate		5.30%
Senior notes | Senior notes due 2030, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 296,479,000	296,385,000
Effective interest rate		2.72%
Senior notes | Senior Notes due 2031, net of discount and issuance costs
Debt Instrument [Line Items]
Notes and bonds payable		$ 295,671,000	295,547,000
Effective interest rate		2.25%
Senior notes | Senior Notes due 2031
Debt Instrument [Line Items]
Notes and bonds payable		$ 636,819,000	632,693,000
Effective interest rate		5.13%
Mortgages | Mortgage Notes Payable
Debt Instrument [Line Items]
Notes and bonds payable		$ 83,612,000	$ 84,247,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Cash Flow Hedges of Interest Rate Risk (Details) $ in Thousands	Mar. 31, 2023 USD ($) derivative
Derivative [Line Items]
Number of instruments | derivative	14
Interest Rate Swaps | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 1,000,000
Weighted average interest rate (percent)	3.17%
Interest Rate Swap, Expiring January 15, 2024 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 200,000
Weighted average interest rate (percent)	1.21%
Interest Rate Swap, Expiring May 1, 2026 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 100,000
Weighted average interest rate (percent)	2.15%
Interest Rate Swap, Expiring June 1, 2026 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 150,000
Weighted average interest rate (percent)	3.83%
Interest Rate Swap, Expiring December 1, 2026 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 150,000
Weighted average interest rate (percent)	3.84%
Interest Rate Swap, Expiring June 1, 2027 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 150,000
Weighted average interest rate (percent)	4.13%
Interest Rate Swap, Expiring December 1, 2027 | Cash flow hedging | Designated as hedging instrument
Derivative [Line Items]
AMOUNT	$ 250,000
Weighted average interest rate (percent)	3.79%

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Designated as hedging instrument | Settled interest rate swaps
Derivative [Line Items]
Liability derivatives	$ (2,160)
Other liabilities | Interest rate swaps
Derivative [Line Items]
Liability derivatives	(11,927)
Other assets | Designated as hedging instrument | Interest rate swaps
Derivative [Line Items]
Liability derivatives	$ 9,767

Derivative Financial Instrume_5

Derivative Financial Instruments - Effect of Cash Flow Hedging on AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
(Gain)/loss recognized in AOCI on Derivative	$ 8,541	$ (5,159)
(Gain) loss reclassified from AOCI into income	2,284	(1,086)
Interest expense
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	(2,284)	1,086
Interest rate swaps
Derivative [Line Items]
(Gain)/loss recognized in AOCI on Derivative	8,541	(5,159)
Interest rate swaps | Interest expense
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	(2,433)	937
Settled treasury hedges
Derivative [Line Items]
(Gain)/loss recognized in AOCI on Derivative	0	0
Settled treasury hedges | Interest expense
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	107	107
Settled interest rate swaps
Derivative [Line Items]
(Gain)/loss recognized in AOCI on Derivative	0	0
Settled interest rate swaps | Interest expense
Derivative [Line Items]
(Gain) loss reclassified from AOCI into income	$ 42	$ 42

Derivative Financial Instrume_6

Derivative Financial Instruments - Derivative Instruments Designated as Cash Flow Hedges (Details) $ in Millions	Mar. 31, 2023 USD ($)
Derivative [Line Items]
Derivatives in net asset position	$ 7
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	9.5
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

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Construction activity and development properties	$ 16.9

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Beginning and Ending Common Stock Outstanding (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of period (in shares)	380,590,000
Balance, end of period (in shares)	380,816,000	380,590,000
Common Stock
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of period (in shares)	380,589,894	150,457,433
Issuance of common stock (in shares)	3,130	229,618,304
Nonvested share-based awards, net of withheld shares (in shares)	223,405	514,157
Balance, end of period (in shares)	380,816,429	380,589,894

Stockholders' Equity (Stock Tra

Stockholders' Equity (Stock Transactions - Narrative) (Details) - USD ($)			1 Months Ended		3 Months Ended
	Jan. 04, 2023	Nov. 02, 2022	Jan. 31, 2023	Jan. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Class of Stock [Line Items]
Dividends paid per common share, during the period (in dollars per share)					$ 0.31	$ 0.31
Dividends declared per common share, during the period (in dollars per share)		$ 0.31
Award vesting period					3 years
Operating Partnership Performance Units
Class of Stock [Line Items]
Percentage of restricted stock units	43%
Weighted average grant date fair value (in dollars per share)	$ 15.85
Award performance period			3 years
Operating Partnership Performance Units | Performance conditions
Class of Stock [Line Items]
Percentage of restricted stock units	57%
Weighted average grant date fair value (in dollars per share)	$ 20.21
Operating Partnership Performance Units | Absolute TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share)				$ 12.24
Operating Partnership Performance Units | Relative TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share)				13.98
Restricted stock
Class of Stock [Line Items]
Granted (in shares)					165,174
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Award vesting period	5 years
Percentage of restricted stock units	43%
Weighted average grant date fair value (in dollars per share)	$ 22.55
Restricted Stock Units (RSUs) | Performance conditions
Class of Stock [Line Items]
Percentage of restricted stock units	57%
Weighted average grant date fair value (in dollars per share)	$ 20.21
Restricted Stock Units (RSUs) | Absolute TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share)				24.23
Restricted Stock Units (RSUs) | Relative TSR Component
Class of Stock [Line Items]
Weighted average grant date fair value (in dollars per share)				$ 27.84
Executive Incentive Program | Operating Partnership Performance Units | Share-Based Payment Arrangement, Nonemployee
Class of Stock [Line Items]
Granted (in shares)	448,249
Award vesting period	5 years
Executive Incentive Program | Non-vested Stock Award
Class of Stock [Line Items]
Granted (in dollars per share)					$ 5,400,000
Granted (in shares)					270,494
Executive Incentive Program | Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Granted (in dollars per share)	$ 3,700,000
Granted (in shares)	165,174
Executive Incentive Program | Directors | Share-Based Payment Arrangement, Nonemployee
Class of Stock [Line Items]
Grant date fair value	$ 7,100,000
Executive Incentive Program | Minimum | Non-vested Stock Award
Class of Stock [Line Items]
Award vesting period					3 years
Executive Incentive Program | Maximum | Non-vested Stock Award
Class of Stock [Line Items]
Award vesting period					8 years
Stock incentive plan
Class of Stock [Line Items]
Granted (in shares)					282,540	415,184
Stock incentive plan | Restricted stock
Class of Stock [Line Items]
Shares withheld to pay estimated withholding taxes (in shares)					38,632	6,727
Options under the Employee Stock Option Plan
Class of Stock [Line Items]
Weighted-average incremental shares of common stock excluded from the computation (in shares)					49,322
Options under the Employee Stock Option Plan | Operating Partnership Performance Units
Class of Stock [Line Items]
Nonvested shares (in shares)					4,042,993
Options under the Employee Stock Option Plan | Non-vested Stock Award
Class of Stock [Line Items]
Nonvested shares (in shares)					401,937
Common Stock
Class of Stock [Line Items]
Amount remaining available for issuance under the new ATM					$ 750,000,000

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
	Mar. 31, 2023	Mar. 31, 2022
Weighted average Common Shares outstanding
Weighted average common shares outstanding (in shares)	380,796,773	150,834,888
Non-vested shares (in shares)	(1,956,353)	(1,871,858)
Weighted average common shares outstanding - basic (in shares)	378,840,420	148,963,030
Dilutive effect of employee stock purchase plan (in shares)	0	88,234
Weighted average common shares outstanding - diluted (in shares)	378,840,420	149,051,264
Net income (loss)	$ (87,125)	$ 42,227
Dividends paid on nonvested share-based awards	(605)	(605)
Net (loss) income applicable to common stockholders - basic	$ (87,730)	$ 41,622
Basic earnings per common share - net income (in dollars per share)	$ (0.23)	$ 0.28
Diluted earnings per common share- net income (in dollars per share)	$ (0.23)	$ 0.28

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Options, Valuation Assumptions (Details)	Jan. 04, 2023 $ / shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility	34%
Expected term	3 years
Risk-free rate	4.42%
Stock price (in dollar per share)	$ 20.21
Operating Partnership Performance Units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility	34%
Expected term	3 years
Risk-free rate	4.42%
Stock price (in dollar per share)	$ 20.21

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity under Stock-Based Incentive Plans and Restricted Stock Unit (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted stock
Summary of the activity under the incentive plans
Share-based awards, beginning of period (in shares)	294,932
Granted (in shares)	165,174
Vested (in shares)	(17,606)
Revaluation of 2022 RSUs (net change) (in shares)	(79,250)
Share-based awards, ending of period (in shares)	363,250
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	$ 33.04
Granted, Weighted average grant date fair value (in dollar per share)	22.55
Vested, Weighted average grant date fair value (in dollar per share)	33.04
Probability adjustment, Weighted average grant date fair value (in dollar per share)	31.68
Share-based awards, ending of period, Weighted average grant date fair value	$ 28.57
Stock incentive plan
Summary of the activity under the incentive plans
Share-based awards, beginning of period (in shares)	1,795,128	1,562,028
Granted (in shares)	282,540	415,184
Vested (in shares)	(101,720)	(24,365)
Forfeited (net change) (in shares)	(20,503)	(1,296)
Share-based awards, ending of period (in shares)	1,955,445	1,951,551

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity under Employee Stock Purchase Plan (Details) - Employee stock purchase plan - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Summary of the Employee Stock Purchase Plan activity
Outstanding and exercisable, beginning of period (in shares)	340,976	348,514
Granted (in shares)	0	255,960
Exercised (in shares)	(3,130)	(10,553)
Forfeited (in shares)	(21,421)	(25,486)
Expired (in shares)	(132,999)	(140,633)
Outstanding and exercisable, end of period (in shares)	183,426	427,802

Stockholders' Equity - Amortiza

Stockholders' Equity - Amortization of Compensation for Nonvested Shares (Details) $ in Millions	Mar. 31, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
2023	$ 10.5
2024	12.5
2025	10.8
2026	8.1
2027	2.4
2028 and thereafter	0.5
Total	$ 44.8

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
CARRYING VALUE
Derivative [Line Items]
Notes and bonds payable	$ 5,361.7	$ 5,351.8
Real estate notes receivable	147.3	99.6
FAIR VALUE
Derivative [Line Items]
Notes and bonds payable	5,185	5,149.6
Real estate notes receivable	$ 146.4	$ 99.6