Healthcare Realty Trust (HR) 10-K 19 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 5,955,657,463
Entity Common Stock, Shares Outstanding		350,820,406
Documents Incorporated by Reference	Portions of the Registrant’s definitive Proxy Statement relating to the Annual Meeting of Stockholders to be held on May 20, 2025 are incorporated by reference into Part III of this Report .
Entity Central Index Key	0001360604
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	BDO USA, P.C.
Auditor Location	Nashville, TN
Auditor Firm ID	243

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate properties
Land	$ 1,143,468	$ 1,343,265
Buildings and improvements	9,707,066	10,881,373
Lease intangibles	664,867	836,302
Personal property	9,909	12,718
Investment in financing receivables, net	123,671	122,602
Financing lease right-of-use assets	77,343	82,209
Construction in progress	31,978	60,727
Land held for development	52,408	59,871
Total real estate investments	11,810,710	13,399,067
Less accumulated depreciation	(2,483,656)	(2,226,853)
Total real estate investments, net	9,327,054	11,172,214
Cash and cash equivalents	68,916	25,699
Assets held for sale, net	12,897	8,834
Operating lease right-of-use assets	261,438	275,975
Investments in unconsolidated joint ventures	473,122	311,511
Goodwill	0	250,530
Other assets, net	507,496	592,368
Total assets	10,650,923	12,637,131
Liabilities
Notes and bonds payable	4,662,771	4,994,859
Accounts payable and accrued liabilities	222,510	211,994
Liabilities of properties held for sale	1,283	295
Operating lease liabilities	224,499	229,714
Financing lease liabilities	72,346	74,503
Other liabilities	161,640	202,984
Total liabilities	5,345,049	5,714,349
Commitments and contingencies (See Footnote 15)
Redeemable non-controlling interests	4,778	3,868
Stockholders' equity
Preferred stock, $0.01 par value; 200,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 1,000,000 shares authorized; 350,532 and 380,964 shares issued and outstanding at December 31, 2024 and 2023, respectively.	3,505	3,810
Additional paid-in capital	9,118,229	9,602,592
Accumulated other comprehensive loss	(1,168)	(10,741)
Cumulative net income attributable to common stockholders	374,309	1,028,794
Cumulative dividends	(4,260,014)	(3,801,793)
Total stockholders’ equity	5,234,861	6,822,662
Non-controlling interest	66,235	96,252
Total equity	5,301,096	6,918,914
Total liabilities, redeemable non-controlling interests, and stockholders' equity	$ 10,650,923	$ 12,637,131

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	200,000,000	200,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	350,532,000	380,964,000
Common stock, outstanding (in shares)	350,532,000	380,964,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Rental income	$ 1,232,776	$ 1,309,184	$ 907,451
Interest income	16,383	17,134	11,480
Other operating	19,157	17,451	13,706
Total Revenue	1,268,316	1,343,769	932,637
Expenses
Property operating	473,444	500,437	344,038
General and administrative	83,121	58,405	52,734
Transaction costs	3,122	2,026	3,229
Merger-related costs	0	(1,952)	103,380
Depreciation and amortization	675,152	730,709	453,082
Total expenses	1,234,839	1,289,625	956,463
Other income (expense)
Gain on sales of real estate properties and other assets	109,753	77,546	270,271
Interest expense	242,425	258,584	146,691
(Loss) gain on extinguishment of debt	(237)	62	(2,401)
Impairment of real estate properties and credit loss reserves	(313,547)	(154,912)	(54,427)
Impairment of goodwill	(250,530)	0	0
Equity loss from unconsolidated joint ventures	(135)	(1,682)	(687)
Interest and other (expense) income, net	(260)	1,343	(1,546)
Total other income (expense)	(697,381)	(336,227)	64,519
Net (loss) income	(663,904)	(282,083)	40,693
Net loss attributable to non-controlling interests	9,419	3,822	204
Net (loss) income attributable to common stockholders	$ (654,485)	$ (278,261)	$ 40,897
Basic and diluted earnings per share:
Basic earnings per common share (in dollars per share)	$ (1.81)	$ (0.74)	$ 0.15
Diluted earnings per common share (in dollars per share)	$ (1.81)	$ (0.74)	$ 0.15
Weighted average number of shares outstanding, basic and diluted:
Weighted average common shares outstanding - basic (in shares)	365,553,056	378,927,871	252,356,203
Weighted average common shares outstanding - diluted (in shares)	365,553,056	378,927,871	253,873,321
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]	Service [Member]

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (663,904)	$ (282,083)	$ 40,693
Interest rate swaps
Reclassification adjustment for (gains) losses included in net income (interest expense)	(13,137)	(14,488)	1,527
Gains arising during the period on interest rate swaps	22,809	1,463	10,630
Net current-period other comprehensive income (loss)	9,672	(13,025)	12,157
Comprehensive (loss) income	(654,232)	(295,108)	52,850
Less: Comprehensive loss attributable to non-controlling interests	9,337	3,966	168
Comprehensive (loss) income attributable to common stockholders	$ (644,895)	$ (291,142)	$ 53,018

Consolidated Statements of Equi

Consolidated Statements of Equity and Redeemable Non-Controlling Interests - 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 stock, net of costs	22,907	22,907	6	22,901
Merger consideration transferred	5,687,165	5,576,463	2,289	5,574,174				110,702
Common stock redemption	(2,792)	(2,792)	(1)	(2,791)
Share-based compensation	20,346	20,346	7	20,339
Redemption of non-controlling interest		97		97				(97)
Net income (loss)	40,693	40,897				40,897		(204)
Reclassification adjustments for losses included in net income (interest expense)	1,527	1,531			1,531			(4)
Gain on interest rate swaps and treasury locks	10,630	10,590			10,590			40
Dividends to common stockholders	(285,774)	(284,079)					(284,079)	(1,695)
Ending 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
Redeemable Non-controlling Interests, beginning balance at Dec. 31, 2021	0
Redeemable Non-controlling Interests
Contributions from redeemable non-controlling interests	2,014
Redeemable Non-controlling Interests, ending balance at Dec. 31, 2022	2,014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of costs	130	130		130
Common stock redemption	(2,235)	(2,235)	(1)	(2,234)
Conversion of OP Units to common stock		2,776	2	2,774				(2,776)
Share-based compensation	14,288	14,288	3	14,285
Net income (loss)	(282,083)	(278,261)				(278,261)		(3,822)
Reclassification adjustments for losses included in net income (interest expense)	(14,488)	(14,315)			(14,315)			(173)
Gain on interest rate swaps and treasury locks	1,463	1,434			1,434			29
Dividends to common stockholders	(477,979)	(472,231)					(472,231)	(5,748)
Ending Balance at Dec. 31, 2023	6,918,914	6,822,662	3,810	9,602,592	(10,741)	1,028,794	(3,801,793)	96,252
Redeemable Non-controlling Interests
Contributions from redeemable non-controlling interests	1,889
Adjustments to redemption value of redeemable non-controlling interests	35
Redeemable Non-controlling Interests, ending balance at Dec. 31, 2023	3,868
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of costs	104	104		104
Common stock redemption	(8,697)	(8,697)	(5)	(8,692)
Conversion of OP Units to common stock		3,412	3	3,409				(3,412)
Share-based compensation	31,824	31,824	5	31,819
Common stock repurchases	(510,423)	(510,423)	(308)	(510,115)
Redemption of non-controlling interest	(11,930)							(11,930)
Net income (loss)	(663,904)
Net (loss) gain	(663,921)	(654,485)				(654,485)		(9,436)
Reclassification adjustments for losses included in net income (interest expense)	(13,137)	(12,954)			(12,954)			(183)
Gain on interest rate swaps and treasury locks	22,809	22,527			22,527			282
Adjustments to redemption value of redeemable non-controlling interests	(888)	(888)		(888)
Dividends to common stockholders	(463,559)	(458,221)					(458,221)	(5,338)
Ending Balance at Dec. 31, 2024	5,301,096	$ 5,234,861	$ 3,505	$ 9,118,229	$ (1,168)	$ 374,309	$ (4,260,014)	$ 66,235
Redeemable Non-controlling Interests
Contributions from redeemable non-controlling interests	13
Adjustments to redemption value of redeemable non-controlling interests	880
Net (loss) gain	17
Redeemable Non-controlling Interests, ending balance at Dec. 31, 2024	$ 4,778

Consolidated Statements of Eq_2

Consolidated Statements of Equity and Redeemable Non-Controlling Interests (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders (in USD per share)	$ 1.24	$ 1.24	$ 1.24

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net income (loss)	$ (663,904)	$ (282,083)	$ 40,693
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	675,152	730,709	453,082
Other amortization	47,165	45,181	24,695
Share-based compensation	31,824	14,288	20,346
Amortization of straight-line rent receivable (lessor)	(29,996)	(38,676)	(23,498)
Amortization of straight-line rent on operating leases (lessee)	3,880	6,084	3,374
Gain on sales of real estate properties and other assets	(109,753)	(77,546)	(270,271)
Loss (gain) on extinguishment of debt	237	(62)	2,401
Impairment of real estate properties and credit loss reserves	313,547	154,912	54,427
Impairment of goodwill	250,530	0	0
Equity loss from unconsolidated joint ventures	135	1,682	687
Distributions from unconsolidated joint ventures	10,498	17,880	1,881
Non-cash interest from financing and real estate notes receivable	(1,833)	(1,654)	(2,257)
Changes in operating assets and liabilities:
Other assets, including right-of-use-assets	(34,547)	(55,946)	(26,098)
Accounts payable and accrued liabilities	5,199	(18,775)	24,191
Other liabilities	3,483	3,826	(30,906)
Net cash provided by operating activities	501,617	499,820	272,747
INVESTING ACTIVITIES
Acquisitions of real estate	0	(49,171)	(402,529)
Development of real estate	(70,338)	(41,058)	(37,862)
Additional long-lived assets	(248,981)	(231,026)	(163,544)
Funding of mortgages and notes receivable	(5,505)	(26,803)	(23,325)
Investments in unconsolidated joint ventures	0	(3,824)	(99,967)
Investment in financing receivable	(511)	(1,801)	(1,002)
Proceeds from sales of real estate properties and additional long-lived assets	1,221,083	701,434	1,201,068
Contributions from redeemable non-controlling interests	13	1,389	0
Proceeds from notes receivable repayments	5,162	0	1,688
Cash assumed in Merger, including restricted cash for special dividend payment	0	0	1,159,837
Net cash provided by investing activities	900,923	349,140	1,634,364
FINANCING ACTIVITIES
Net borrowings (repayments) on unsecured credit facility	0	(385,000)	40,000
Borrowings on term loans	0	0	666,500
Repayment on term loan	(350,000)	0	(1,141,500)
Repayments of notes and bonds payable	(25,473)	(19,143)	(20,042)
Redemption of notes and bonds payable	0	0	(2,184)
Dividends paid	(457,853)	(472,242)	(283,713)
Special dividend paid in relation to the Merger	0	0	(1,123,648)
Net proceeds from issuance of common stock	104	130	22,902
Common stock redemptions	(8,881)	(2,298)	(3,192)
Common stock repurchases	(510,423)	0	0
Distributions to non-controlling interest holders	(5,473)	(5,123)	(1,695)
Redemption of non-controlling interest	(744)	0	0
Debt issuance and assumption costs	(563)	(529)	(12,753)
Payments made on finance leases	(17)	(17)	0
Net cash used in financing activities	(1,359,323)	(884,222)	(1,859,325)
Increase (decrease) in cash and cash equivalents	43,217	(35,262)	47,786
Cash and cash equivalents cash at beginning of period	25,699	60,961	13,175
Cash and cash equivalents at end of period	68,916	25,699	60,961
Supplemental Cash Flow Information
Interest paid	202,503	216,033	112,692
Mortgage notes payable assumed in connection with acquisition of real estate, net	0	5,284	0
Invoices accrued for construction, tenant improvements and other capitalized costs	39,969	31,469	48,292
Capitalized interest	4,295	2,961	1,410
Mortgage notes receivable taken in connection with sale of real estate	9,630	51,000	0
Non-controlling interest in sale of real estate	11,185	0	0
Contribution of real estate properties into unconsolidated joint venture	172,666	0	0
Real estate notes receivable assumed in Merger (adjusted to fair value)	0	0	74,819
Unsecured credit facility and term loans assumed in Merger (adjusted to fair value)	0	0	1,758,650
Senior notes assumed in Merger (adjusted to fair value)	0	0	2,232,650
Consideration transferred in relation to the Merger	$ 0	$ 0	$ 5,576,463

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
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 of America. Except as otherwise provided in the Notes to the Company’s Consolidated Financial Statements, references herein to the "Company" mean Healthcare Realty Trust Incorporated and its consolidated subsidiaries, including Healthcare Realty Holdings, L.P. (formerly known as Healthcare Trust of America Holdings, LP) (the "OP"), after giving effect to the Merger discussed in more detail in Note 2 below. As of December 31, 2024, the Company had gross real estate investments of approximately $11.8 billion in 589 consolidated real estate properties, construction in progress, redevelopments, financing receivables, financing lease right-of-use assets, land held for development and corporate property, excluding held for sale assets. The Company’s real estate properties are located in 33 states and total approximately 34.2 million square feet. In addition, as of December 31, 2024, the Company had a weighted average ownership interest of approximately 31% in 63 real estate properties held in unconsolidated joint ventures. See Note 5 below for more details regarding the Company's joint ventures. Square footage and property count disclosures in these Notes to the Company's Consolidated Financial Statements are unaudited. Principles of Consolidation The Company’s 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 the Company 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”). ASC Topic 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is the VIE’s primary beneficiary, with any minority interests reflected as non-controlling interests or redeemable non-controlling interests in the accompanying 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. The OP is 98.7% 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 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 December 31, 2024, there were approximately 4.6 million, or 1.3%, of OP Units issued and outstanding held by non-controlling interest holders. Additionally, the Company i s the primary beneficiary of this VIE. Accordingly, the Company consolidates its interests in the OP. As of December 31, 2024, the Company had three consolidated VIEs in addition to the OP, consisting of joint venture investments in which the Company 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 as of December 31, 2024 and 2023: DECEMBER 31, (dollars in thousands) 2024 2023 Assets: Total real estate investments, net $ 103,933 $ 85,752 Cash and cash equivalents 159 2,144 Other assets, net 4,053 2,704 Total assets $ 108,145 $ 90,600 Liabilities: Notes and bonds payable $ 60,170 $ — Accounts payable and accrued liabilities 2,786 17,835 Other liabilities 45 — Total liabilities $ 63,001 $ 17,835 As of December 31, 2024, the Company had five unconsolidated VIEs consisting of four notes receivables and one joint venture. The Company does not have the power or economic interests to direct the activities of these 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 four 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 $ 14,900 $ 14,900 2021 Charlotte, NC 1 Note receivable 7,441 7,441 2022 Texas 2 Equity method 56,586 56,586 2024 Texas 3 Note receivable 9,689 16,729 2024 Texas 3 Note receivable 1 4,500 1 Assumed mortgage note receivable in connection with the Merger. 2 Includes investments in seven properties. 3 Company provided seller financing and entered into a mortgage loan and a mezzanine loan in connection with a property disposition. As of December 31, 2024, 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 5 for more details regarding the Company's unconsolidated joint ventures. Use of Estimates in the Consolidated Financial Statements Preparation of the Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates and assumptions. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, impairments, collectability of tenant receivables, and fair value measurements, as applicable. Segment Reporting The Company owns, leases, acquires, manages, finances, develops and redevelops outpatient and other healthcare-related properties. The Company is managed as one reporting unit, rather than multiple reporting units, for internal reporting purposes and for internal decision-making and discloses its operating results in a single reportable segment. The Company's chief operating decision makers (“CODM”), represented by the Company's Chief Executive Officer, the Chief Financial Officer and the Chief Operating Officer, review financial information and assess the consolidated operations of the Company in order to make strategic decisions such as allocation of capital expenditures and other significant expenses. See Note 18 for additional information on segment reporting. Real Estate Properties Real estate properties are recorded at cost or at fair value if acquired in a transaction that is a business combination under ASC Topic 805, Business Combinations . Cost or fair value at the time of acquisition is allocated among land, buildings, tenant improvements, lease and other intangibles, and personal property as applicable. During 2024 and 2023, the Company eliminated against accumulated depreciation approximately $112.3 million and $51.7 million , respectively, of fully amortized real estate intangibles that were initially recorded as a component of certain real estate acquisitions. During 2024 approximately $3.0 million of fully depreciated tenant and capital improvements that were no longer in service were eliminated against accumulated depreciation. There were no such transactions during 2023. Depreciation expense of real estate properties for the three years ended December 31, 2024, 2023 and 2022 was $507.1 million, $518.6 million and $320.8 million, respectively. Depreciation and amortization of real estate assets in place as of December 31, 2024, is provided for on a straight-line basis over the asset’s estimated useful life: Land improvements 2.0 to 39.0 years Buildings and improvements 3.3 to 49.0 years Lease intangibles (including ground lease intangibles) 1.0 to 99.0 years Personal property 3.0 to 10.0 years The Company capitalizes direct costs, including costs such as construction costs and professional services, and indirect costs, including capitalized interest and overhead costs, associated with the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their intended use. Capitalized interest cost is calculated using the weighted average interest rate of the Company's unsecured debt or the interest rate on project specific debt, if applicable. The Company continues to capitalize interest on the unoccupied portion of the properties in stabilization for up to one year after the buildings have been placed into service, at which time the capitalization of interest must cease. Asset Impairment The Company assesses the potential for impairment of identifiable, definite-lived, intangible assets and long-lived assets, including real estate properties, whenever events occur or a change in circumstances indicates that the carrying value might not be fully recoverable. Indicators of impairment may include significant underperformance of an asset relative to historical or expected operating results; significant changes in the Company’s use of assets or the strategy for its overall business; plans to sell an asset before its useful life has ended; the expiration of a significant portion of leases in a property; or significant negative economic trends or negative industry trends for the Company or its tenants. In addition, the Company reviews for possible impairment, those assets subject to purchase options and those impacted by casualty losses, such as tornadoes and hurricanes. A property value is considered impaired only if management's estimate of current and projected (undiscounted and unleveraged) operating cash flows of the property is less than the net carrying value of the property. These estimates of future cash flows include only those that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the property. These estimates, including the useful life determination which can be affected by any potential sale of the property, are based on management's assumptions about its use of the property. Therefore, significant judgment is involved in estimating the current and projected cash flows. If management determines that the carrying value of the Company’s assets may not be fully recoverable based on the existence of any of the factors above, or others, management would measure and record an impairment charge based on the estimated fair value of the property or the estimated fair value less costs to sell the property. See Note 7 for additional information on impairment. Acquisitions of Real Estate Properties with In-Place Leases The Company's acquisitions of real estate properties typically do not meet the definition of a business and are accounted for as asset acquisitions. Acquisitions of real estate properties with in-place leases are accounted for at relative fair value. When a building with in-place leases is acquired, the cost of the acquisition must be allocated between the tangible real estate assets "as-if-vacant" and the intangible real estate assets related to in-place leases based on their estimated fair values. Land fair value is estimated by using an assessment of comparable transactions and other relevant data. The Company considers whether any of the in-place lease rental rates are above- or below-market. An asset (if the actual rental rate is above-market) or a liability (if the actual rental rate is below-market) is calculated and recorded in an amount equal to the present value of the future cash flows that represent the difference between the actual lease rate and the estimated market rate. If an in-place lease is identified as a below-market rental rate, the Company would also evaluate any renewal options associated with that lease to determine if the intangible should include those periods. The values related to above- or below-market in-place lease intangibles are amortized over the remaining term of the leases upon acquisition to rental income where the Company is the lessor and to property operating expense where the Company is the lessee. The Company also estimates an absorption period, which can vary by property, assuming the building is vacant and must be leased up to the actual level of occupancy when acquired. During that absorption period, the owner would incur direct costs, such as tenant improvements, and would suffer lost rental income. Likewise, the owner would have acquired a measurable asset in that, assuming the building was vacant, certain fixed costs would be avoided because the actual in-place lessees would reimburse a certain portion of fixed costs through expense reimbursements during the absorption period. These assets (above- or below-market lease, tenant improvement, leasing costs avoided, rental income lost, and expenses recovered through in-place lessee reimbursements) are estimated and recorded in amounts equal to the present value of estimated future cash flows. The actual purchase price is allocated based on the various relative asset fair values described above. The building and tenant improvement components of the purchase price are depreciated over the estimated useful life of the building or the weighted average remaining term of the in-place leases. The at-market, in-place lease intangibles are amortized to depreciation and amortization expense over the weighted average remaining term of the leases, and customer relationship assets are amortized to depreciation and amortization expense over terms applicable to each acquisition. Any goodwill recorded through a business combination would be reviewed for impairment at least annually and is not amortized. See Note 9 for more details on the Company’s intangible assets. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 – quoted prices for identical instruments in active markets; • Level 2 – quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Executed purchase and sale agreements, which are binding agreements, are categorized as level one inputs. Fair Value of Derivative Financial Instruments Derivative financial instruments are recorded at fair value on the Company's Consolidated Balance Sheets as other assets or other liabilities. The valuation of derivative instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. Fair values of derivatives are estimated by pricing models that consider the forward yield curves and discount rates. The fair value of the Company's forward starting interest rate swap contracts are estimated by pricing models that consider foreign trade rates and discount rates. Such amounts and the recognition of such amounts are subject to significant estimates that may change in the future. For derivatives designated in qualifying cash flow hedging relationships, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss). Gains and losses are reclassified from accumulated other comprehensive income (loss) into earnings once the underlying hedged transaction is recognized in earnings. As of December 31, 2024 and 2023, the Company had $1.2 million and $10.7 million recorded in accumulated other comprehensive loss, respectively, related to forward starting interest rate swaps entered into and settled during 2015 and 2020 and a hedge of the Company's variable rate debt. See Note 11 for additional information. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents includes short-term investments with original maturities of three months or less when purchased. Restricted cash includes cash held in escrow in connection with proceeds from the sales of certain real estate properties. The Company did not have any restricted cash for the years ended December 31, 2024 or 2023. Cash and cash equivalents are held in bank accounts and overnight investments. The Company maintains its bank deposits with large financial institutions in amounts that often exceed federally-insured limits. The Company has not experienced any losses in such accounts. Goodwill and Other Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually for impairment. Intangible assets with finite lives are amortized over their respective lives to their estimated residual values and are reviewed for impairment only when impairment indicators are present. Identifiable intangible assets of the Company are comprised of enterprise goodwill, in-place lease intangible assets, customer relationship intangible assets, and debt issuance costs. In-place lease and customer relationship intangible assets are amortized on a straight-line basis over the applicable lives of the assets. Debt issuance costs are amortized over the term of the debt instrument on the effective interest method or the straight-line method when the effective interest method is not applicable. Goodwill is not amortized but is typically evaluated for impairment annually as of December 31 or whenever events or changes in circumstances indicate that an impairment may exist. However, during the first quarter of 2024, the Company experienced a sustained decline in the price per share of its common stock, which was identified as an indicator of goodwill impairment. As a result, a goodwill evaluation was performed. The Company performed a quantitative assessment, and the fair value of the Company’s single reporting unit was estimated using a combination of discounted cash flow models and earnings multiples techniques. The determination of fair value using the discounted cash flow model technique requires the use of estimates and assumptions related to revenue and expense growth rates, capitalization rates, discount rates, capital expenditures and working capital levels. The determination of fair value using the earnings multiples technique requires assumptions to be made in relation to maintainable earnings and market multiples. These forecasts and assumptions are highly subjective, and while we believe our assumptions are reasonable, changes in these assumptions may have a material impact on our financial results. The Company determined that the carrying value exceeded estimated fair value, and therefore the Company recorded a $250.5 million full impairment of its goodwill, which is recorded as a non-cash charge in “Impairment of goodwill” in the Consolidated Statements of Operations. See Note 9 for more detail on the Company’s intangible assets. Contingent Liabilities From time to time, the Company may be subject to loss contingencies arising from legal proceedings and similar matters. Additionally, while the Company maintains comprehensive liability and property insurance with respect to each of its properties, the Company may be exposed to unforeseen losses related to uninsured or underinsured damages. The Company continually monitors any matters that may present a contingent liability, and, on a quarterly basis, management reviews the Company’s reserves and accruals in relation to each of them, adjusting provisions as necessary in view of changes in available information. Liabilities for contingencies are first recorded when a loss is determined to be both probable and can be reasonably estimated. Changes in estimates regarding the exposure to a contingent loss are reflected as adjustments to the related liability in the periods when they occur. Because of uncertainties inherent in the estimation of contingent liabilities, it is possible that the Company’s provision for contingent losses could change materially in the near term. To the extent that any significant losses, in addition to amounts recognized, are at least reasonably possible, such amounts will be disclosed in the notes to the Consolidated Financial Statements. Share-Based Compensation The Company has various employee and director share-based awards outstanding. These awards include non-vested common stock or other stock-based awards, including units in the OP, pursuant to the Company's Amended and Restated 2006 Incentive Plan, dated April 29, 2021 ( the "Incentive Plan"). The Company recognizes share-based payments to employees and directors in the Consolidated Statements of Operations on a straight-line basis over the requisite service period based on the fair value of the award on the measurement date. The Company recognizes the impact of forfeitures as they occur. See Note 13 for details on the Company’s share-based awards. Accumulated Other Comprehensive (Loss) Income Certain items must be included in comprehensive (loss) income, including items such as foreign currency translation adjustments, minimum pension liability adjustments, changes in the fair value of derivative instruments and unrealized gains or losses on available-for-sale securities. As of December 31, 2024, the Company’s accumulated other comprehensive (loss) income consists of the loss for changes in the fair value of active derivatives designated as cash flow hedges and the loss on the unamortized settlement of forward starting swaps and treasury hedges. See Note 11 for more details on the Company's derivative financial instruments. Revenue from Contracts with Customers (Topic 606) The Company recognizes certain revenue under the core principle of Topic 606. This 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 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: YEAR ENDED DECEMBER 31, in thousands 2024 2023 2022 Type of Revenue Parking income $ 9,329 $ 9,903 $ 8,513 Management fee income/other 1 9,828 7,548 5,193 $ 19,157 $ 17,451 $ 13,706 1 Includes the recovery of certain expenses under the financing receivable as outlined in the management agreement. The Company’s two major types of revenue that are accounted for under Topic 606 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. In most cases, the revenue is due and payable on a monthly basis. The Company had a receivable balance of $1.9 million, $1.9 million and $1.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Management fee income includes property management services provided to third parties and certain of the properties in the Company's unconsolidated joint ventures and is generally calculated, accrued and billed monthly based on a percentage of cash collections of tenant receivables for the month or a stated amount per square foot. Management fee income also includes amounts paid to the Company for its asset management services for certain of its unconsolidated joint ventures. Internal management fee income, where the Company manages its owned properties, is eliminated in consolidation. Rental Income Rental income related to non-cancelable operating leases is recognized as earned over the life of the lease agreements on a straight-line basis. The Company's lease agreements generally include provisions for stated annual increases or increases based on a Consumer Price Index ("CPI"). Rental income from properties under multi-tenant office lease arrangements and rental income from properties with single-tenant lease arrangements are included in rental income on the Company's Consolidated Statements of Operations. For lessors, the standard requires a lessor to classify leases as either sales-type, direct-financing or operating. A lease will be treated as a sale if it is considered to transfer control of the underlying asset to the lessee. A lease will be classified as direct-financing if risks and rewards are conveyed without the transfer of control. Otherwise, the lease is treated as an operating lease. Nonlease components, such as common area maintenance, are generally accounted for under Topic 606 and separated from the lease payments. However, the Company elected the lessor practical expedient allowing the Company to not separate these components when certain conditions are met. The combined component is accounted for under Accounting Standards Codification, Topic 842. The components of rental income are as follows: YEAR ENDED DECEMBER 31, in thousands 2024 2023 2022 Property operating income $ 1,202,780 $ 1,270,508 $ 883,953 Straight-line rent 29,996 38,676 23,498 Rental income $ 1,232,776 $ 1,309,184 $ 907,451 Federal Income Taxes The Company believes it has qualified to be taxed as a REIT and intends at all times to continue to qualify as a REIT under Sections 856 through 860 of the Internal Revenue Code. The Company must distribute at least 90% per annum of its real estate investment trust taxable income to its stockholders and meet other requirements to continue to qualify as a real estate investment trust. As a REIT, the Company is generally not subject to federal income tax on net income it distributes to its stockholders, but may be subject to certain state and local taxes and fees. See Note 16 for further discussion. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income taxes on its taxable income and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which the qualification is lost unless the IRS grants it relief under certain statutory provisions. Such an event could have a material adverse effect on its business, financial condition, results of operations and net cash available for dividend distributions to its stockholders. The Company conducts substantially all of its operations through the OP. As a partnership, the OP generally is not liable for federal income taxes. The income and loss from the operations of the OP is included in the tax returns of its partners, including the Company, who are responsible for reporting their allocable share of the partnership income and loss. Accordingly, no provision for income tax has been made in the accompanying consolidated financial statements. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Consolidated Financial Statements as a component of general and administrative expenses. No such amounts were recognized during the three years ended December 31, 2024. Federal tax returns for the years 2021, 2022, 2023 and 2024 are currently subject to examination by taxing authorities. State Income Taxes The Company must pay certain state income taxes and the provisions for such taxes are generally included in general and administrative expenses on the Company’s Consolidated Statements of Operations. See Note 16 for further discussion. Sales and Use Taxes The Company must pay sales and use taxes to certain state tax authorities based on rents collected from tenants in properties located in those states. The Company is generally reimbursed for these taxes by the tenant. The Company accounts for the payments to the taxing authority and subsequent reimbursement from the tenant on a net basis in rental income in the Company’s Consolidated Statements of Operations. Assets Held for Sale Long-lived assets held for sale are reported at the lower of their carrying amount or their fair value less estimated cost to sell. Further, depreciation of these assets ceases at the time the assets are classified as held for sale. Losses resulting from the sale of such properties are characterized as impairment losses in the Consolidated Statements of Operations. See Note 6 for more detail on assets held for sale. Earnings per Share The Company uses the two-class method of computing net earnings per common share. Earnings per common share is calculated by considering share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents as participating securities. Undistributed earnings (excess net income over dividend payments) are allocated on a pro rata basis to common shareholders and restricted shareholders. Undistributed losses (dividends in excess of net income) do not get allocated to restricted stockholders as they do not have the contractual obligation to share in losses. The amount of undistributed losses that applies to the restricted stockholders is allocated to the common stockholders. Basic earnings per common share is calculated using weighted average shares outstanding less issued and outstanding non-vested shares of common stock. Diluted earnings per common share is calculated using weighted average shares outstanding plus the dilutive effect of the outstanding stock options from the Legacy HR Em

Merger with HTA

Merger with HTA	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 (now known as HRTI, LLC) (“Legacy HR”), Healthcare Trust of America, Inc. (now known as Healthcare Realty Trust Incorporated) (“Legacy HTA”), the OP, and HR Acquisition 2, LLC (“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, and 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 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, Business Combinations, 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 Legacy 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. Final Purchase Price Allocation The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Closing Date: Dollars in thousands PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE CUMULATIVE MEASUREMENT PERIOD ADJUSTMENTS AMOUNTS RECOGNIZED ON THE CLOSING DATE ASSETS Real estate investments Land $ 985,926 $ 18,359 $ 1,004,285 Buildings and improvements 6,960,418 (119,135) 6,841,283 Lease intangible assets (a) 831,920 1,839 833,759 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 $ (102,535) $ 8,742,212 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 16,370 214,631 Other assets, net (b) (c) 209,163 (3,840) 205,323 Total assets acquired $ 11,177,186 $ (87,795) $ 11,089,391 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 (8,909) 194,301 Total liabilities assumed $ 5,635,425 $ 13,844 $ 5,649,269 Net identifiable assets acquired $ 5,541,761 $ (101,639) $ 5,440,122 Non-controlling interest $ 110,702 $ — $ 110,702 Goodwill $ 145,404 $ 101,639 $ 247,043 (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 expected to collect substantially all of the real estate notes receivable proceeds as of the Closing Date. The cumulative measurement period adjustments recorded through June 30, 2023 are final and 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 $101.6 million. Based on the final purchase price allocation of fair value, approximately $247.0 million was 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 was 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 was deductible for tax purposes. During 2024, the Company experienced a sustained decline in the price per share of its common stock, which was identified as an indicator of goodwill impairment. As a result, a goodwill evaluation was performed and the Company recorded a full impairment of its goodwill, which was recorded as a non-cash charge in “Impairment of goodwill” in the Consolidated Statements of Operations. Merger-related Costs The Company incurred Merger-related costs of $(2.0) million and $103.4 million, respectively, for the years ended December 31, 2023 and 2022, which were included within Merger-related costs in results of operations. The Merger-related costs primarily consisted of legal, consulting, severance, and banking services and for the year ended December 31, 2023, including a refund of $17.8 million for transfer taxes paid during the year ended December 31, 2023. No Merger-related costs were incurred for the year ended December 31, 2024.

Property Investments

Property Investments	12 Months Ended
	Dec. 31, 2024
Real Estate Investment Property, Net [Abstract]
Property Investments	Property Investments The Company invests in healthcare-related properties located throughout the United States. The Company provides management, leasing, development and redevelopment services, and capital for the construction of new facilities as well as for the acquisition of existing properties. The following table summarizes the Company’s consolidated investments at December 31, 2024. Dollars in thousands NUMBER OF PROPERTIES LAND BUILDINGS AND IMPROVEMENTS LEASE INTANGIBLES PERSONAL PROPERTY TOTAL ACCUMULATED DEPRECIATION Dallas, TX 39 $ 73,030 $ 864,625 $ 40,948 $ 547 $ 979,150 $ (245,493) Seattle, WA 24 45,272 547,743 5,178 679 598,872 (184,304) Charlotte, NC 31 32,980 462,173 25,947 133 521,233 (134,075) Houston, TX 26 61,201 510,255 46,286 46 617,788 (106,416) Denver, CO 26 55,309 390,453 32,602 605 478,969 (106,457) Atlanta, GA 24 39,895 365,592 20,769 102 426,358 (86,861) Boston, MA 16 120,818 279,881 39,509 14 440,222 (60,469) Los Angeles, CA 15 49,770 265,617 3,486 401 319,274 (131,477) Phoenix, AZ 35 29,177 492,016 31,915 427 553,535 (84,116) Raleigh, NC 25 57,906 366,150 29,224 13 453,293 (55,468) Nashville, TN 11 38,057 339,417 9,840 4,422 391,736 (128,686) Miami, FL 14 22,890 265,974 17,785 176 306,825 (75,640) Tampa, FL 18 30,586 313,381 26,109 33 370,109 (53,946) Indianapolis, IN 39 50,874 274,524 23,329 13 348,740 (50,188) New York, NY 14 63,377 163,038 25,963 — 252,378 (26,533) Austin, TX 11 21,601 217,862 18,568 37 258,068 (46,372) Washington, DC 9 5,265 220,493 3,799 48 229,605 (59,598) Chicago, IL 6 13,804 217,359 7,626 81 238,870 (45,205) San Francisco, CA 6 49,181 181,860 9,915 52 241,008 (59,302) Orlando, FL 7 9,793 170,755 16,815 1 197,364 (29,866) Other (45 markets) 190 272,682 2,797,898 229,254 2,079 3,301,913 (713,184) 586 1,143,468 9,707,066 664,867 9,909 11,525,310 (2,483,656) Investment in financing receivables, net 1 — — — 123,671 — Financing lease right-of-use assets 1 — — — — 77,343 — Construction in progress 1 — — — — 31,978 — Land held for development — — — — — 52,408 — Total real estate investments 589 $ 1,143,468 $ 9,707,066 $ 664,867 $ 9,909 $ 11,810,710 $ (2,483,656)

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases Lessor Accounting Under ASC 842 The Company’s properties generally are leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2052. Some leases provide tenants with fixed rent renewal terms while others have 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 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 years ended December 31, 2024, 2023 and 2022 was $1.2 billion, $1.3 billion and $907.5 million, respectively. Future minimum lease payments under the non-cancelable operating leases, excluding any reimbursements, as of December 31, 2024 were as follows: In thousands 2025 $ 816,029 2026 744,399 2027 634,752 2028 522,433 2029 418,455 2030 and thereafter 1,544,358 $ 4,680,426 Revenue Concentrations The Company’s real estate portfolio is leased to a diverse tenant base. The Company did not have any customers that account for 10% or more of the Company's revenues for the years ended December 31, 2024, 2023 and 2022. Purchase Option Provisions Certain of the Company’s leases include purchase option provisions. The provisions vary by agreement but generally allow the lessee to purchase the property covered by the agreement at fair market value or an amount equal to the Company’s gross investment. The Company expects that the purchase price from its purchase options will be greater than its net investment in the properties at the time of potential exercise by the lessee. The Company had gross investments of approximately $111.1 million in six real estate properties as of December 31, 2024 that were subject to purchase options that were exercisable. Lessee Accounting Under ASC 842 As of December 31, 2024, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. Contracts evaluated and treated as leases are those that convey the right to control the use of identified assets for a period of time in exchange for consideration. ASC 842 requires the recording of these leases based on the aggregate future cash flows, discounted utilizing the implicit rate in the lease, or, if not readily determinable, based upon the lessee's incremental borrowing rate, to which the Company utilizes market inputs that are both similar to the Company's credit profile and corresponding term of the leases. As of December 31, 2024, the Company had 215 properties totaling 16.1 million square feet that were held under ground leases. Some of the ground leases include fixed rent renewal terms and others have market rent renewal terms. The 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 the CPI. The Company had 73 prepaid ground leases as of December 31, 2024. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $1.4 million, $1.3 million and $1.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of December 31, 2024 were as follows: In thousands OPERATING FINANCING 2025 $ 12,410 $ 2,070 2026 12,540 2,106 2027 12,743 2,145 2028 12,879 2,177 2029 12,944 2,209 2030 and thereafter 657,744 383,172 Total undiscounted lease payments $ 721,260 $ 393,879 Discount (496,761) (321,533) Lease liabilities $ 224,499 $ 72,346 The following table provides details of the Company's total lease expense for the years ended December 31, 2024 and 2023: YEAR ENDED DECEMBER 31 In thousands 2024 2023 Operating lease cost Operating lease expense $ 18,076 $ 20,623 Variable lease expense 4,939 8,979 Finance lease cost Amortization of right-of-use assets 1,533 1,564 Interest on lease liabilities 3,727 3,718 Total lease expense $ 28,275 $ 34,884 Other information Operating cash flows outflows related to operating leases $ 15,545 $ 19,222 Operating cash flows outflows related to financing leases $ 2,107 $ 2,122 Financing cash flows outflows related to financing leases $ 17 $ 17 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,855 $ 1,758 Weighted-average remaining lease term (excluding renewal options) - operating leases 44.1 45.8 Weighted-average remaining lease term (excluding renewal options) - finance leases 57.8 57.9 Weighted-average discount rate - operating leases 5.7 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.0 %
Leases	Leases Lessor Accounting Under ASC 842 The Company’s properties generally are leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2052. Some leases provide tenants with fixed rent renewal terms while others have 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 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 years ended December 31, 2024, 2023 and 2022 was $1.2 billion, $1.3 billion and $907.5 million, respectively. Future minimum lease payments under the non-cancelable operating leases, excluding any reimbursements, as of December 31, 2024 were as follows: In thousands 2025 $ 816,029 2026 744,399 2027 634,752 2028 522,433 2029 418,455 2030 and thereafter 1,544,358 $ 4,680,426 Revenue Concentrations The Company’s real estate portfolio is leased to a diverse tenant base. The Company did not have any customers that account for 10% or more of the Company's revenues for the years ended December 31, 2024, 2023 and 2022. Purchase Option Provisions Certain of the Company’s leases include purchase option provisions. The provisions vary by agreement but generally allow the lessee to purchase the property covered by the agreement at fair market value or an amount equal to the Company’s gross investment. The Company expects that the purchase price from its purchase options will be greater than its net investment in the properties at the time of potential exercise by the lessee. The Company had gross investments of approximately $111.1 million in six real estate properties as of December 31, 2024 that were subject to purchase options that were exercisable. Lessee Accounting Under ASC 842 As of December 31, 2024, the Company was obligated, as the lessee, under operating lease agreements consisting primarily of the Company’s ground leases. Contracts evaluated and treated as leases are those that convey the right to control the use of identified assets for a period of time in exchange for consideration. ASC 842 requires the recording of these leases based on the aggregate future cash flows, discounted utilizing the implicit rate in the lease, or, if not readily determinable, based upon the lessee's incremental borrowing rate, to which the Company utilizes market inputs that are both similar to the Company's credit profile and corresponding term of the leases. As of December 31, 2024, the Company had 215 properties totaling 16.1 million square feet that were held under ground leases. Some of the ground leases include fixed rent renewal terms and others have market rent renewal terms. The 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 the CPI. The Company had 73 prepaid ground leases as of December 31, 2024. The amortization of the prepaid rent, included in the operating lease right-of-use asset, represented approximately $1.4 million, $1.3 million and $1.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of December 31, 2024 were as follows: In thousands OPERATING FINANCING 2025 $ 12,410 $ 2,070 2026 12,540 2,106 2027 12,743 2,145 2028 12,879 2,177 2029 12,944 2,209 2030 and thereafter 657,744 383,172 Total undiscounted lease payments $ 721,260 $ 393,879 Discount (496,761) (321,533) Lease liabilities $ 224,499 $ 72,346 The following table provides details of the Company's total lease expense for the years ended December 31, 2024 and 2023: YEAR ENDED DECEMBER 31 In thousands 2024 2023 Operating lease cost Operating lease expense $ 18,076 $ 20,623 Variable lease expense 4,939 8,979 Finance lease cost Amortization of right-of-use assets 1,533 1,564 Interest on lease liabilities 3,727 3,718 Total lease expense $ 28,275 $ 34,884 Other information Operating cash flows outflows related to operating leases $ 15,545 $ 19,222 Operating cash flows outflows related to financing leases $ 2,107 $ 2,122 Financing cash flows outflows related to financing leases $ 17 $ 17 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,855 $ 1,758 Weighted-average remaining lease term (excluding renewal options) - operating leases 44.1 45.8 Weighted-average remaining lease term (excluding renewal options) - finance leases 57.8 57.9 Weighted-average discount rate - operating leases 5.7 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.0 %

Acquisitions, Dispositions and

Acquisitions, Dispositions and Mortgage Repayments	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions, Dispositions and Mortgage Repayments	Acquisitions, Dispositions and Mortgage Repayments 2024 Acquisition Activity The Company had no real estate acquisition activity for the year ended December 31, 2024. Unconsolidated Joint Ventures As of December 31, 2024, the Company had a weighted average ownership interest of approximately 31% in 63 real estate properties held in unconsolidated joint ventures. The Company recognizes distributions from unconsolidated joint ventures utilizing the nature of distribution approach and classifies the distributions based on the nature of the underlying activity that generated the distribution. The distributions from unconsolidated joint ventures for the years ended December 31, 2024 and 2023 were classified as operating activities. The Company's investment in and loss recognized for the years ended December 31, 2024 and 2023 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below: DECEMBER 31, Dollars in thousands 2024 2023 Investments in unconsolidated joint ventures, beginning of period $ 311,511 $ 327,248 New investments during the period 172,244 3,824 Equity loss recognized during the period (135) (1,682) Owner distributions (10,498) (17,879) Investments in unconsolidated joint ventures, end of period $ 473,122 $ 311,511 2023 Acquisition Activity The following table details the Company's real estate acquisition activity for the year ended December 31, 2023: Dollars in thousands DATE ACQUIRED PURCHASE PRICE MORTGAGE NOTES PAYABLE, NET CASH 1 REAL OTHER 2 SQUARE FOOTAGE Tampa, FL 3/10/23 $ 31,500 $ — $ 30,499 $ 30,596 $ (97) 115,867 Colorado Springs, CO 7/28/23 11,450 (5,284) 6,024 11,416 (108) 42,770 Total real estate acquisitions $ 42,950 $ (5,284) $ 36,523 $ 42,012 $ (205) 158,637 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. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the real estate acquisitions for 2023 as of the acquisition date: ESTIMATED ESTIMATED Building $ 27.5 17.0 - 30.0 Tenant Improvements 3.4 5.1 - 5.9 Land 5.5 0 Land Improvements 1.1 6.0 - 10.0 Intangibles At-market lease intangibles 4.5 5.1 - 5.9 Above-market lease intangibles (lessor) 0.2 1.8 - 4.9 Below-market lease intangibles (lessor) (0.2) 6.4 - 13.9 Mortgage notes payable assumed, including fair value adjustments (5.3) Other assets acquired 0.1 Accounts payable, accrued liabilities and other liabilities assumed (0.3) Total cash paid $ 36.5 2024 Real Estate Asset Dispositions The following table details the Company's dispositions and joint venture dispositions for the year ended December 31, 2024: Dollars in thousands DATE DISPOSED SALE PRICE CLOSING COSTS & CREDITS COMPANY-FINANCED MORTGAGE NOTES NET CONSIDERATION NET REAL ESTATE INVESTMENT OTHER GAIN/(IMPAIR-MENT) SQUARE FOOTAGE Albany, NY 4/1/24 $ 725 $ (60) $ — $ 665 $ 765 $ (82) $ (18) 14,800 San Angelo, TX 4/12/24 5,085 (128) — 4,957 4,917 66 (26) 24,580 Houston, TX 5/20/24 250 (9) — 241 713 (520) 48 37,040 Multiple 1 5/23/24 284,348 (14,270) — 270,078 254,176 25,836 (9,934) 556,274 Denver, CO 5/30/24 19,000 (628) — 18,372 18,522 165 (315) 37,130 Austin, TX 1 6/6/24 54,858 (1,575) — 53,283 27,964 623 24,696 129,879 Minneapolis, MN 6/21/24 1,082 (144) — 938 303 43 592 50,291 Raleigh, NC 2 6/28/24 99,518 (2,835) — 96,683 86,810 906 8,967 309,424 Albany, NY 8/2/24 6,300 (847) — 5,453 5,528 486 (561) 180,000 Charlotte, NC 8/6/24 26,670 (395) — 26,275 14,853 613 10,809 90,633 Charleston, SC 8/13/24 14,500 (589) — 13,911 11,488 1 2,422 46,711 Multiple 1 8/23/24 118,000 (8,615) — 109,385 113,956 548 (5,119) 266,782 Multiple 3 8/27/24 177,250 (7,085) — 170,165 169,545 5,363 (4,743) 473,003 Austin, TX 9/13/24 42,281 (1,257) — 41,024 14,561 425 26,038 76,246 Raleigh, NC 9/26/24 1,813 (27) — 1,786 1,694 50 42 5,934 Houston, TX 4 10/3/24 12,000 (1,001) (9,630) 1,369 11,266 295 (563) 140,012 Greensboro, NC 10/9/24 12,514 (21) — 12,493 10,152 296 2,045 35,373 Des Moines, IA 10/15/24 31,750 (1,320) — 30,430 13,869 1,662 14,899 95,486 Albany, NY 10/15/24 9,500 (521) — 8,979 7,823 1,193 (37) 80,676 Salt Lake City, UT 5 10/24/24 30,712 (8,962) — 21,750 26,899 (9,406) 4,257 112,192 Miami, FL 10/25/24 36,789 (706) — 36,083 35,925 (209) 367 102,186 Miami, FL 6 10/25/24 17,767 (718) — 17,049 14,650 (210) 2,609 60,761 Cleveland, OH 12/10/24 1,000 (157) — 843 1,454 57 (668) 31,152 Boise, ID 7 12/12/24 18,350 (2,003) — 16,347 17,562 345 (1,560) 83,078 Multiple 1 12/18/24 310,250 (6,767) — 303,483 321,437 6,616 (24,570) 766,622 Atlanta, GA 12/20/24 15,900 (1,318) — 14,582 13,344 635 603 42,921 Los Angeles, CA 7 12/20/24 64,000 (4,805) — 59,195 47,322 1,676 10,197 162,554 Tampa, FL 12/27/24 37,500 (402) — 37,098 41,556 (1,962) (2,496) 95,896 Wichita Falls, TX 12/27/24 600 (130) — 470 2,530 14 (2,074) 25,133 Total dispositions $ 1,450,312 $ (67,295) $ (9,630) $ 1,373,387 $ 1,291,584 $ 35,525 $ 55,907 4,132,769 1. The Company contributed the following medical outpatient properties to a joint venture in which the Company retained 20% ownership: one in each of Raleigh, NC, New York, NY, Philadelphia, PA, Atlanta, GA, Austin, TX, Miami, FL, Denver, CO, Memphis, TN, Indianapolis, IN, and Honolulu, HI; two MOBs in Los Angeles; three MOBs in Houston, TX and Dallas, TX; and five in Seattle, WA. Sale price and square footage reflect the total sale price paid by the joint venture and total square footage of the property. The net proceeds to the Company related to these dispositions totaled $584.9 million. 2. The Company sold seven MOBs in Greensboro, NC and two non-clustered single-tenant MOBs in Raleigh, NC to a single buyer in a single transaction. 3. The Company contributed the following medical outpatient properties to a joint venture in which the Company retained 20% ownership: two in each of Nashville, TN and Denver, CO; one in each of Dallas, TX, San Antonio, TX and Atlanta, GA. Sale price and square footage reflect the total sale price paid by the joint venture and total square footage of the property. The net proceeds to the Company related to these dispositions totaled $148.9 million. 4. The Company provided seller financing of approximately $9.6 million in connection with this sale. 5. The Company sold an MOB that was included in a consolidated joint venture in which the Company held a 63% ownership interest. Proceeds include the Company's pro-rata share of the purchase price as well as amounts due to the Company by the joint venture. 6. Includes two properties. 7. Includes three properties. 2023 Real Estate Asset Dispositions The following table details the Company's dispositions for the year ended December 31, 2023: Dollars in thousands Type 1 DATE DISPOSED SALE PRICE CLOSING COSTS & CREDITS COMPANY-FINANCED NOTES NET CONSIDERATION NET REAL ESTATE INVESTMENT OTHER 2 GAIN/(IMPAIR-MENT) SQUARE FOOTAGE Tampa/Miami, FL 3 MOB 1/12/23 $ 93,250 $ (5,875) $ — $ 87,375 $ 87,302 $ (888) $ 961 224,037 Dallas, TX 4 MOB 1/30/23 19,210 (141) — 19,069 18,986 43 40 36,691 St. Louis, MO MOB 2/10/23 350 (18) — 332 398 — (66) 6,500 Los Angeles, CA MOB 3/23/23 21,000 (526) — 20,474 20,610 52 (188) 37,165 Los Angeles, CA 5 MOB 3/30/23 75,000 (8,079) (45,000) 21,921 88,624 (803) (20,900) 147,078 Los Angeles, CA 6 Land 5/12/23 3,300 (334) — 2,966 3,268 — (302) — Albany, NY MOB 6/30/23 10,000 (1,229) — 8,771 2,613 (1,040) 7,198 40,870 Houston, TX MOB 8/2/23 8,320 (285) — 8,035 4,567 194 3,274 57,170 Atlanta, GA MOB 8/22/23 25,140 (66) — 25,074 23,226 (536) 2,386 55,195 Dallas, TX Inpatient 9/15/23 115,000 (1,504) — 113,496 64,183 6,094 43,219 161,264 Houston, TX MOB 9/18/23 250 (24) — 226 1,998 — (1,772) 52,040 Chicago, IL MOB 9/27/23 59,950 (870) — 59,080 74,710 (380) (15,250) 104,912 Evansville, IN 7 MOB 11/13/23 18,500 (63) — 18,437 17,807 (149) 779 260,520 Houston, TX Hospital 12/1/23 4,100 (6) — 4,094 3,486 — 608 83,223 Charleston, SC 8 Office 12/15/23 6,200 (401) — 5,799 3,415 — 2,384 15,014 Dallas, TX MOB 12/20/23 43,295 (764) — 42,531 33,882 (3,782) 12,431 77,827 Los Angeles, CA Office 12/21/23 19,000 (1,311) — 17,689 17,787 — (98) 104,377 Tucson, AZ 9,10 MOB 12/22/23 43,230 (3,770) (6,000) 33,460 39,786 (26) (300) 215,471 Miami, FL MOB 12/22/23 18,250 (756) — 17,494 17,354 643 (503) 48,000 Sebring, FL MOB 12/27/23 9,500 (81) — 9,419 10,438 (512) (507) 38,949 Boston, MA MOB 12/28/23 117,197 (2,079) — 115,118 107,803 9,828 (2,513) 161,254 Florida 11 SNF 12/29/23 77,000 (8,678) (7,700) 60,622 65,839 (294) 2,777 354,500 Total dispositions $ 787,042 $ (36,860) $ (58,700) $ 691,482 $ 708,082 $ 8,444 $ 33,658 2,282,057 1. MOB = medical outpatient building; SNF = skilled nursing facility. 2. Includes straight-line rent receivables, leasing commissions and lease inducements. 3. Includes two properties sold in two separate transactions to the same buyer on the same date. 4. 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. 5. The Company entered into a mortgage loan agreement with the buyer for $45.0 million. 6. The Company sold a land parcel totaling 0.34 acres. 7. Includes five properties sold in three separate transactions to the same buyer on the same date. 8. The Company sold a corporate office in Charleston, SC that was 100% occupied by the Company. 9. Includes 12 properties sold in one transaction to the same buyer. 10. The Company entered into a mezzanine loan with the buyer for $6.0 million. 11. Includes three properties sold in one transaction to the same buyer. The Company entered into a separate note receivable for $7.7 million related to this sale.

Held for Sale

Held for Sale	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Held for Sale	Held for Sale The Company had three properties classified as assets held for sale as of December 31, 2024. The net real estate assets held for sale includes the impact of $24.1 million of impairment charges for the year ended December 31, 2024. The Company had one property classified as assets held for sale as of December 31, 2023. The net real estate assets held for sale included the impact of $5.9 million of impairment charges for the year ended December 31, 2023. The table below reflects the assets and liabilities classified as held for sale as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Balance Sheet data Land $ 10,859 $ 1,850 Buildings and improvements 3,410 6,779 Lease intangibles 3,286 1,017 17,555 9,646 Accumulated depreciation (5,275) (913) Real estate assets held for sale, net 12,280 8,733 Other assets, net 617 101 Assets held for sale, net $ 12,897 $ 8,834 Accounts payable and accrued liabilities $ 694 $ 23 Other liabilities 589 272 Liabilities of properties held for sale $ 1,283 $ 295 Subsequent Dispositions On February 7, 2025, the Company disposed of a 30,304 square foot medical office building in Boston, Massachusetts for $4.5 million. On February 14, 2025, the Company disposed of two medical office buildings in Denver, Colorado, with a combined total of 69,715 square feet for an aggregate purchase price of $8.6 million. These properties were classified as held for sale as of December 31, 2024.

Impairment Charges - Long-Lived

Impairment Charges - Long-Lived Assets	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Impairment Charges - Long-Lived Assets	Impairment Charges - Long-Lived Assets An asset is impaired when undiscounted cash flows expected to be generated by the asset are less than the carrying value of the asset. The Company must assess the potential for impairment of its long-lived assets, including real estate properties, whenever events occur or there is a change in circumstances, such as the sale of a property or the decision to sell a property, which indicate that the recorded value might not be fully recoverable. The Company recorded impairment charges totaling $249.9 million on 51 properties sold and 13 additional properties as a result of completed and planned disposition activity for the year ended December 31, 2024. The Company recorded impairment charges on 31 properties sold and six additional properties associated with planned disposition activity for the year ended December 31, 2023, totaling $149.7 million. Both level 1 and level 3 fair value techniques were used to derive these impairment charges.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist primarily of real estate notes receivable, straight-line rent receivables, prepaid assets, intangible assets, accounts receivable and additional long-lived assets. Items included in "Other assets, net" on the Company’s Consolidated Balance Sheets as of December 31, 2024 and 2023 are detailed in the table below: Dollars in thousands December 31, 2024 December 31, 2023 Prepaid assets $ 154,957 $ 116,455 Real estate notes receivable, net 127,624 173,614 Straight-line rent receivables 124,970 116,866 Accounts receivable, net 1 36,495 63,203 Above-market intangible assets, net 32,230 66,695 Interest rate swap assets 5,263 4,634 Project costs 4,903 6,187 Additional long-lived assets, net 4,197 20,717 Net investment in lease 2,168 2,112 Investment in securities 2 1,936 6,011 Debt issuance costs, net 1,758 3,867 Customer relationship intangible assets, net 1,011 1,066 Other 9,984 10,941 $ 507,496 $ 592,368 1 The amounts for December 31, 2024 and 2023 are net of allowance for doubtful accounts of $9.5 million and $8.4 million, respectively. 2 This amount represents the value of the Company's preferred stock investment in a data analytics platform. In 2024, a fair value measurement impairment of $4.1 million was recorded on this investment and is included in "Impairment of real estate properties and credit loss reserves" on the Statement of Operations.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	Intangible Assets and Liabilities The Company has several types of intangible assets and liabilities included in its Consolidated Balance Sheets, including goodwill, debt issuance costs, above-, below-, and at-market lease intangibles, and customer relationship intangibles. For additional details on the Company's debt issuance costs, see Note 10 to the Consolidated Financial Statements. The Company’s intangible assets and liabilities, including assets held for sale and certain debt issuance costs, as of December 31, 2024 and 2023 consisted of the following: GROSS BALANCE ACCUMULATED AMORTIZATION WEIGHTED AVG. BALANCE SHEET CLASSIFICATION Dollars in millions 2024 2023 2024 2023 Goodwill $ — $ 250.5 $ — $ — N/A Goodwill Credit facility debt issuance costs 6.9 6.9 5.2 3.1 0.9 Other assets, net Above-market lease intangibles (lessor) 74.8 98.0 42.3 31.3 4.0 Other assets, net Customer relationship intangibles (lessor) 2.1 2.1 1.1 1.1 18.6 Other assets, net Below-market lease intangibles (lessor) (98.3) (112.5) (53.1) (35.7) 5.3 Other liabilities At-market lease intangibles 668.2 837.3 353.9 301.7 5.9 Real estate properties $ 653.7 $ 1,082.3 $ 349.4 $ 301.5 5.8 For the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $167.7 million, $214.8 million, and $133.6 million of intangible amortization, respectively. The following table represents expected amortization over the next five years of the Company’s intangible assets and liabilities in place as of December 31, 2024: Dollars in millions FUTURE AMORTIZATION OF INTANGIBLES, NET 2025 $ 114.3 2026 68.4 2027 43.3 2028 24.7 2029 14.9

Notes and Bonds Payable

Notes and Bonds Payable	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Notes and Bonds Payable	Notes and Bonds Payable DECEMBER 31, 1 MATURITY DATES CONTRACTUAL INTEREST RATES EFFECTIVE INTEREST RATES PRINCIPAL PAYMENTS INTEREST PAYMENTS Dollars in thousands 2024 2023 $1.5B Unsecured Credit Facility 2 — — 10/25 SOFR + 0.95% 5.30 % At maturity Monthly $350M Unsecured Term Loan 3 — 349,798 7/25 SOFR + 1.04% 5.59 % At maturity Monthly $200M Unsecured Term Loan 4 199,896 199,903 5/25 SOFR + 1.04% 5.59 % At maturity Monthly $150M Unsecured Term Loan 149,790 149,643 6/26 SOFR + 1.04% 5.59 % At maturity Monthly $300M Unsecured Term Loan 5 299,981 299,958 10/25 SOFR + 1.04% 5.59 % At maturity Monthly $200M Unsecured Term Loan 199,641 199,502 7/27 SOFR + 1.04% 5.59 % At maturity Monthly $300M Unsecured Term Loan 298,708 298,288 1/28 SOFR + 1.04% 5.59 % At maturity Monthly Senior Notes due 2025 249,868 249,484 5/25 3.88 % 4.12 % At maturity Semi-annual Senior Notes due 2026 586,824 579,017 8/26 3.50 % 4.94 % At maturity Semi-annual Senior Notes due 2027 488,104 483,727 7/27 3.75 % 4.76 % At maturity Semi-annual Senior Notes due 2028 298,029 297,429 1/28 3.63 % 3.85 % At maturity Semi-annual Senior Notes due 2030 586,028 575,443 2/30 3.10 % 5.30 % At maturity Semi-annual Senior Notes due 2030 297,190 296,780 3/30 2.40 % 2.72 % At maturity Semi-annual Senior Notes due 2031 296,343 295,832 3/31 2.05 % 2.25 % At maturity Semi-annual Senior Notes due 2031 667,233 649,521 3/31 2.00 % 5.13 % At maturity Semi-annual Mortgage notes payable 45,136 70,534 12/25-12/26 3.60%-4.77% 3.57%-6.88% Monthly Monthly $ 4,662,771 $ 4,994,859 1 Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable. 2 As of December 31, 2024, the Company had $1.5 billion available to be drawn on its $1.5 billion Unsecured Credit Facility. 3 In 2024, the Company repaid the $350 million Unsecured Term Loan and recognized approximately $0.2 million of accelerated amortization expense included in the loss on extinguishment of debt. 4 In April 2024, the Company exercised its option to extend the maturity date for one year to May 2025 for a fee of approximately $0.3 million. On January 7, 2025 the company made a partial repayment of $25 million on the initial $200 million Unsecured Term Loan. 5 On January 14, 2025, the company made a partial repayment of $10 million on the initial $300 million Unsecured Term Loan. The Company’s various debt agreements contain certain representations, warranties, and financial and other covenants customary in such loan agreements. Among other things, these provisions require the Company to maintain certain financial ratios and impose certain limits on the Company’s ability to incur indebtedness and create liens or encumbrances. As of December 31, 2024, the Company was in compliance with its financial covenant provisions under its various debt instruments. Senior Notes The following table summarizes the Company’s aggregate Senior notes principal balance as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Senior notes principal balance $ 3,699,285 $ 3,699,285 Unaccreted discount (224,759) (265,852) Debt issuance costs (4,907) (6,200) Senior notes carrying amount $ 3,469,619 $ 3,427,233 Term Loans The following table summarizes the Company’s aggregate term loan principal balances as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Term loan principal balances 1 $ 1,150,000 $ 1,500,000 Debt issuance costs (1,984) (2,908) Term Loans carrying amount $ 1,148,016 $ 1,497,092 1. In 2024, the Company repaid the $350 million Unsecured Term Loan and recorded approximately $0.2 million of accelerated amortization expense included in the loss of extinguishment of debt. Mortgage Notes Payable The following table summarizes the Company’s aggregate mortgage notes principal balance as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Mortgage notes payable principal balance $ 45,278 $ 70,752 Unamortized premium 140 285 Unaccreted discount (134) (237) Debt issuance costs (148) (266) Mortgage notes payable carrying amount $ 45,136 $ 70,534 Mortgage Activity On January 6, 2024, the Company repaid in full at maturity a mortgage note payable bearing interest at a rate of 4.77% per annum with an outstanding principal of $11.3 million. The mortgage note encumbered a 63,012 square foot property in California . On February 1, 2024, the Company repaid in full at maturity a mortgage note payable bearing interest at a rate of 4.12% per annum with an outstanding principal of $5.6 million. T he mortgage note encumbered a 40,324 squ are foot property in Georgia . On September 1, 2024, the Company repaid in full at maturity a mortgage note payable bearing interest at a rate of 4.15% per annum with an outstanding principal balance of $7.0 million. T he mortgage note encumbered a 64,143 squ are foot property in Minnesota . The following table details the Company’s mortgage notes payable, with related collateral. ORIGINAL BALANCE EFFECTIVE INTEREST RATE 6 MATURITY COLLATERAL 7 PRINCIPAL AND INTEREST PAYMENTS 8 INVESTMENT IN COLLATERAL BALANCE Dollars in millions 2024 2024 2023 Life Insurance Co. 1 13.3 4.13 % 1/24 MOB Monthly/10-yr amort. — — 11.3 Life Insurance Co. 2 6.8 3.96 % 2/24 MOB Monthly/7-yr amort. — — 5.6 Financial Services 3 9.7 4.32 % 9/24 MOB Monthly/10-yr amort. — — 7.2 Life Insurance Co. 4 16.5 3.57 % 12/25 MOB,OFC Monthly/7-yr amort. 39.7 15.4 15.9 Financial Services 11.5 3.71 % 1/26 MOB Monthly/10-yr amort. 42.3 7.4 7.8 Life Insurance Co. 5 6.0 6.88 % 4/26 MOB Monthly/7-yr amort. 11.8 5.2 5.2 Life Insurance Co. 19.2 4.08 % 12/26 MOB Monthly/10-yr amort. 46.0 17.1 17.5 $ 139.8 $ 45.1 $ 70.5 1 The unamortized portion of the $0.8 million premium recorded on this note upon acquisition is included in the balance above. 2 The unamortized portion of the $0.2 million premium recorded on this note upon acquisition is included in the balance above. 3 The unamortized portion of the $0.1 million premium recorded on this note upon acquisition is included in the balance above. 4 The unamortized portion of the $0.7 million premium recorded on this note upon acquisition is included in the balance above. 5 The unaccreted portion of the $0.3 million discount recorded on this note upon acquisition is included in the balance above. 6 The contractual interest rates for the four outstanding mortgage notes ranged from 3.6% to 4.5% as of December 31, 2024. 7 MOB-Medical outpatient building; OFC-Office 8 Payable in monthly installments of principal and interest with the final payment due at maturity (unless otherwise noted). Other Long-Term Debt Information Future maturities of the Company’s notes and bonds payable as of December 31, 2024, were as follows: Dollars in thousands PRINCIPAL MATURITIES NET ACCRETION/ AMORTIZATION 1 DEBT ISSUANCE COSTS 2 NOTES AND % 2025 $ 766,375 $ (43,163) $ (2,020) $ 721,192 15.5 % 2026 778,904 (41,837) (1,650) 735,417 15.8 % 2027 700,000 (36,192) (1,519) 662,289 14.2 % 2028 600,000 (35,179) (707) 564,114 12.1 % 2029 — (37,025) (674) (37,699) (0.8) % 2030 and thereafter 2,049,286 (31,357) (471) 2,017,458 43.2 % $ 4,894,565 $ (224,753) $ (7,041) $ 4,662,771 100.0 % 1 Includes discount accretion and premium amortization related to the Company’s Senior Notes and two mortgage notes payable. 2 Excludes approximate ly $1.8 million in debt issuance costs related to the Company's Unsecured Credit Facility included in other assets, net

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2024
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. During 2024, 2023, and 2022, 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) and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. As of December 31, 2024, the Company had interest rate derivatives that were designated as cash flow hedges of interest rate risk. The table below presents the notional value and weighted average rates of the Company's derivative financial instruments as of December 31, 2024 and 2023: NOTIONAL VALUE AS OF WEIGHTED AVERAGE RATE NOTIONAL VALUE AS OF WEIGHTED AVERAGE RATE EXPIRATION DECEMBER 31, 2024 EXPIRATION DECEMBER 31, 2023 January 2024 $ 200,000 1.21 % May 2026 $ 275,000 3.74 % May 2026 275,000 3.74 % June 2026 150,000 3.83 % June 2026 150,000 3.83 % December 2026 150,000 3.84 % December 2026 150,000 3.84 % June 2027 200,000 4.27 % June 2027 200,000 4.27 % December 2027 300,000 3.93 % December 2027 300,000 3.93 % $ 1,075,000 3.92 % $ 1,275,000 3.49 % 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 Consolidated Balance Sheets as of December 31, 2024 and 2023. AS OF DECEMBER 31, 2024 AS OF DECEMBER 31, 2023 Dollars in thousands BALANCE SHEET LOCATION FAIR BALANCE SHEET LOCATION FAIR Interest rate swaps 2019 Other Assets $ 2,493 Other Assets $ 4,214 Interest rate swaps 2022 Other Assets 2,250 Interest rate swaps 2022 Other Liabilities (853) Other Liabilities (5,067) Interest rate swaps 2023 Other Assets 521 Other Assets 411 Interest rate swaps 2023 Other Liabilities (3,310) Other Liabilities (7,357) Total derivatives designated as hedging instruments $ 1,101 $ (7,799) Tabular Disclosure of the Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) The table below presents the effect of cash flow hedge accounting on Accumulated other comprehensive income (loss) ("AOCI") as of December 31, 2024 and 2023 related to the Company's outstanding interest rate swaps. AMOUNT OF GAIN/(LOSS) RECOGNIZED AMOUNT OF (GAIN)/LOSS RECLASSIFIED Dollars in thousands 2024 2023 2024 2023 Interest rate swaps 2019 $ — $ 1,995 Interest expense $ — $ (6,964) Interest rate swaps 2022 15,237 4,583 Interest expense (10,317) (6,289) Interest rate swaps 2023 7,572 (5,115) Interest expense (3,416) (1,829) Settled treasury hedges — — Interest expense 428 426 Settled interest rate swaps — — Interest expense 168 168 Total $ 22,809 $ 1,463 Total $ (13,137) $ (14,488) The Company estimates that an additional $1.4 million will be reclassified from accumulated other comprehensive loss as a net decrease to interest expense over the next 12 months. Tabular Disclosure Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of December 31, 2024. The net amounts of derivative liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative liabilities are presented on the Company's Consolidated Balance Sheets Offsetting of Derivative Assets GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF ASSETS GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ 5,264 $ — $ 5,264 $ (5,264) $ — $ — Offsetting of Derivative Liabilities GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF LIABILITIES GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ (4,163) $ — $ (4,163) $ 5,264 $ — $ 1,101 Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on the indebtedness. The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock The Company had no preferred shares outstanding and had common shares outstanding for the years ended December 31, 2024, 2023, and 2022 as follows: YEAR ENDED DECEMBER 31, 2024 2023 2022 Balance, beginning of year 380,964,433 380,589,894 150,457,433 Issuance of common stock 8,623 8,627 229,618,304 Conversion of OP units to common stock 194,767 190,544 — Shares repurchased (30,794,250) — — Non-vested share-based awards, net of withheld shares and forfeitures 158,433 175,368 514,157 Balance, end of year 350,532,006 380,964,433 380,589,894 Dividends Declared During 2024, the Company declared and paid common stock dividends aggregating $1.24 per share ($0.31 per share per quarter). On February 18, 2025, the Company declared a quarterly common stock dividend in the amount of $0.31 per share payable on March 19, 2025, to stockholders of record on March 3, 2025. Authorization to Repurchase Common Stock During 2024, the Company repurchased 30.8 million shares of its common stock at an average price of $16.56 per share for a total of $509.8 million. As of December 31, 2024, the Company had $237.0 million of authorized share repurchases remaining. Accumulated Other Comprehensive (Loss) Income The following table represents the changes in accumulated other comprehensive (loss) income during the years ended December 31, 2024 and 2023: INTEREST RATE SWAPS Dollars in thousands 2024 2023 Beginning balance $ (10,741) $ 2,140 Other comprehensive income (loss) before reclassifications 22,527 1,434 Amounts reclassified from accumulated other comprehensive (loss) income (12,954) (14,315) Net current-period other comprehensive income (loss) 9,573 (12,881) Ending balance $ (1,168) $ (10,741) The following table represents the details regarding the reclassifications from accumulated other comprehensive (loss) income during the year ended December 31, 2024 (dollars in thousands): DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE AMOUNT RECLASSIFIED AFFECTED LINE ITEM Amounts reclassified from accumulated other comprehensive income (loss) related to settled interest rate swaps $ 596 Interest Expense Amounts reclassified from accumulated other comprehensive income (loss) related to current interest rate swaps (13,733) Interest Expense $ (13,137)

Stock and Other Incentive Plans

Stock and Other Incentive Plans	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock and Other Incentive Plans	Stock and Other Incentive Plans Stock Incentive Plan The Company's Incentive Plan permits the grant of incentive awards to its employees and directors in any of the following forms: options, stock appreciation rights, restricted stock, restricted or deferred stock units, performance awards, dividend equivalents, or other stock-based awards, including units in the OP. The Incentive Plan replaced the Legacy HR Incentive Plan as of the Merger date. Unvested awards under the Legacy HR Incentive Plan were assumed according to their existing terms by the Company in connection with the Merger. As of the Merger date, 9,647,839 share-based awards were available for grant under the Incentive Plan. As of December 31, 2024 and 2023, the Company had share-based awards available for grant under the Incentive Plan of 6,140,496 and 8,102,861 shares, respectively. Non-vested shares issued to employees under the Incentive Plan are generally subject to fixed vesting periods varying from three Dollars in millions FUTURE AMORTIZATION 2025 $ 8.4 2026 5.5 2027 3.2 2028 1.3 2029 and thereafter 0.4 Total $ 18.8 Executive Incentive Plan The Compensation Committee has adopted an executive incentive plan pursuant to the Incentive Plan (the "Executive Incentive Plan") to provide specific award criteria with respect to incentive awards made under the Incentive Plan subject to the discretion of the Compensation Committee. Under the terms of the Executive Incentive Plan, the Company's named executive officers and certain other members of senior management may earn incentive awards in the form of cash, non-vested stock, restricted stock units ("RSUs"), and units in the OP ("OP Units"). For 2024, 2023 and 2022, compensation expense, included in general and administrative expense, resulting from the amortization of the Executive Incentive Plan non-vested share, RSU, and OP Unit grants to officers was approximately $16.8 million, $9.0 million, and $9.8 million, respectively. In 2024, the Company accelerated the amortization of certain outstanding non-vested stock and RSU awards, including in connection with the termination without cause of its CEO and CFO, totaling $8.5 million. Details of equity awards that have been issued under this plan are as follows: • During the first quarter of 2024, the Company granted non-vested stock awards to its named executive officers and other members of senior management with an aggregate grant date fair value of $4.3 million, which consisted of an aggregate of 283,320 non-vested shares with a vesting period of five years. • During the second quarter of 2024, the Company granted non-vested stock to other members of senior management with an aggregate grant date fair value of $0.1 million, which consisted of an aggregate of 9,350 non-vested shares with a vesting period of five years. • On February 13, 2024, the Company granted an aggregate of 208,055 RSUs to members of senior management, with an aggregate grant date fair value of $3.5 million. These awards are subject to a three-year performance period and if the performance criteria is met, the awards are then subject to employment for two additional years with ratable vesting of 50% in year four and 50% in year five. The expense will be recognized on the straight-line basis over the five-year vesting period. ◦ Approximately 36% of the RSUs vest based on relative total shareholder return ("TSR") and were valued using independent specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $19.10 for the relative TSR component for the February grants using the following assumptions: Volatility 28.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.44 % Stock price (per share) $15.22 ▪ The remaining 64% of the RSU awards are subject to certain operating performance conditions. With respect to the operating performance conditions of the February 2024 grants, the grant date fair value was $15.22 based on the Company's share price on the date of grant. The Company records amortization expense based on the probability of achieving certain operating performance conditions, which is evaluated throughout the performance period. ▪ The combined weighted average grant date fair value of the February 2024 RSUs was $16.61 per share. ◦ On April 30, 2024, the Company granted an aggregate of 21,816 RSUs to members of senior management, with an aggregate grant date fair value of $0.3 million. These awards are subject to a three-year performance period and if the performance criteria is met, the awards are then subject to employment for two additional years with ratable vesting of 50% in year four and 50% in year five. The expense will be recognized on the straight-line basis over the five-year vesting period. • Approximately 36% of the RSUs vest based on relative TSR and were valued using independent specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $14.94 for the relative TSR component for the April grants using the following assumptions: Volatility 29.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.85 % Stock price (per share) $14.23 ◦ The remaining 64% of the RSU awards are subject to certain operating performance conditions. With respect to the operating performance conditions of the April 2024 grants, the grant date fair value was $14.23 based on the Company's share price on the date of grant. The Company records amortization expense based on the probability of achieving certain operating performance conditions, which is evaluated throughout the performance period. ◦ The combined weighted average grant date fair value of the April 2024 RSUs was $14.48 per share. LTIP Series C Units On February 13, 2024, the Company granted an aggregate of 906,044 LTIP Series C units ("LTIP-C units) in the OP to its named executive officers with an aggregate grant date fair value of $7.5 million. LTIP-C units are granted notionally at the maximum value of the award. These awards are subject to a three-year performance period and if the performance criteria is met, the awards are then subject to two additional years of employment with ratable vesting of 50% in year four and 50% in year five. The expense will be recognized on the straight-line basis over the five-year vesting period. • Approximately 36% of the LTIP-C units vest based on relative TSR and were valued using independent specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $9.62 for the relative TSR component for the February 2024 grant using the following assumptions: Volatility 28.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.44 % Stock price (per share) $15.22 • The remaining 64% of the LTIP-C units vest based upon certain operating performance conditions. With respect to the operating performance conditions of the February 13, 2024 grant, the grant date fair value was $15.22 based on the Company's share price on the date of grant. The Company records amortization expense based on the probability of achieving certain operating performance conditions, which is evaluated throughout the performance period. • The combined weighted average grant date fair value of the February 2024 LTIP-C units was $13.22 per share. For 2024, compensation expense resulting from the amortization of LTIP-C units awarded to officers was approximately $8.8 million. The Company accelerated the amortization of certain outstanding LTIP-C awards, including in connection with the termination without cause of its CEO and CFO, totaling $7.2 million. Officer Incentive Program In 2024 the Company granted a performance-based award to certain non-executive officers totaling approximately $0.7 million, which was granted in the form of 48,490 non-vested shares. The shares have vesting periods ranging from three For 2024, 2023 and 2022, compensation expense resulting from the amortization of these non-vested share grants awarded to officers was approximately $0.5 million, $0.6 million, and $0.9 million, respectively. The Company accelerated the amortization of certain outstanding awards, including in connection with the termination without cause of its CEO and CFO, totaling $0.1 million. Salary Deferral Plan The Company's salary deferral plan allows certain of its officers to elect to defer up to 50% of their base salary in the form of non-vested shares subject to long-term vesting. The number of shares will be increased through a Company match depending on the length of the vesting period selected by the officer. The officer's vesting period choices are: three years for a 30% match; five years for a 50% match; and eight years for a 100% match. During 2024, 2023 and 2022, the Company issued 29,902 shares, 31,792 shares and 17,381 shares, respectively, to its officers through the salary deferral plan. For 2024, 2023 and 2022, compensation expense resulting from the amortization of non-vested share grants to officers was approximately $1.1 million, $0.9 million, and $0.9 million, respectively. Non-employee Directors Incentive Plan The Company grants non-vested share-based awards to its non-employee directors under the Incentive Plan. The directors’ awards typically have a one-year vesting period and are subject to forfeiture prior to such date upon termination of the director’s service, at no cost to the Company. For each of the years 2024, 2023 and 2022, compensation expense resulting from the amortization of non-vested share-based grants to directors was approximately $2.4 million, $2.1 million, and $1.5 million, respectively. • During the second quarter of 2024, the Company granted non-vested stock awards to certain of its independent directors, with a grant date fair value of $0.9 million, which consisted of an aggregate of 58,910 non-vested shares, with a one-year vesting period. • During the second quarter of 2024, the Company also granted LTIP-D units in the OP to certain of its independent directors, with a grant fair value of $0.8 million, which consisted of an aggregate of 45,982 non-vested units, with a one-year vesting period. Other Grants The Company granted an aggregate of 51,884 non-vested shares to other members of senior management, with an aggregate grant date fair value of $0.9 million and a three-year vesting period. In 2024, the Company granted 69,022 non-vested shares to its interim Chief Executive Officer with a grant date fair value of $1.2 million with vesting the earlier of the appointment of a permanent CEO or one-year. The Company issued one-time non-vested share grants related to executive management transition in 2016. For 2024, 2023, and 2022, compensation expense resulting from the amortization of these non-vested share grants to officers was approximately $2.2 million, $0.8 million, and $0.8 million. The Company accelerated the amortization of these outstanding awards, including in connection with the termination without cause of its CEO and CFO, totaling $1.6 million. The following table represents the summary of non-vested share-based awards (including restricted stock, RSUs, LTIP-C units and LTIP-D units) under the Incentive Plans and related information for the years ended December 31, 2024, 2023, and 2022: YEAR ENDED DECEMBER 31, Dollars in thousands, except per share data 2024 2023 2022 Share-based awards, beginning of year 2,615,562 2,090,060 1,562,028 Granted 1 1,732,484 1,164,359 952,407 Vested (2,284,767) (403,266) (418,949) Change in awards based on performance assessment 2 (47,202) (205,668) — Forfeited (216,340) (29,923) (5,426) Share-based awards, end of year 1,799,737 2,615,562 2,090,060 Weighted-average grant date fair value of Share-based awards, beginning of year $ 25.56 $ 30.35 $ 31.10 Share-based awards granted during the year $ 15.49 $ 18.70 $ 29.64 Share-based awards vested during the year $ 21.43 $ 28.38 $ 31.52 Share-based awards change in performance assessment during the year $ 20.21 $ 29.05 $ — Stock-based awards forfeited during the year $ 16.87 $ 31.16 $ 31.48 Share-based awards, end of year $ 22.30 $ 25.56 $ 30.35 Grant date fair value of shares granted during the year $ 26,844 $ 22,171 $ 28,225 1 LTIP-C units are issued at the maximum possible value of the award and are reflected as such in this table until the performance period has been satisfied and the exact number of awards are determinable. 2 The Company's RSUs that are based on operating performance metrics are evaluated on the probability of those performance metrics being achieved. During 2023, the Company determined that the operating performance goals related to the RSUs issued in 2022 are not probable of being achieved and reversed all of the outstanding amortization expense for that grant. In addition, the Company lowered the probability of achieving the operating performance goals related to the RSUs issued in 2023. The vesting periods for the non-vested shares granted during 2024 ranged from one During 2024, 2023 and 2022, the Company withheld 485,209 s hares, 126,085 shares and 137,892 shares, respectively, of common stock from its officers to pay estimated withholding taxes related to the vesting of shares. 401(k) Plan The Company maintains a 401(k) plan that allows eligible employees to defer salary, subject to certain limitations imposed by the Internal Revenue Code. The Company provides a matching contribution up to $2,800 per employee, subject to certain limitations. The Company’s matching contributions were approximately $1.4 million for 2024, $1.5 million for 2023 and $1.2 million

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company uses the two-class method of computing net earnings per common share. The Company's non-vested share-based awards are considered participating securities pursuant to the two-class method. The table below sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2024, 2023, and 2022. YEAR ENDED DECEMBER 31, Dollars in thousands, except per share data 2024 2023 2022 Weighted average common shares outstanding Weighted average common shares outstanding 367,444,706 380,850,967 254,296,810 Non-vested shares (1,891,650) (1,923,096) (1,940,607) Weighted average common shares outstanding - basic 365,553,056 378,927,871 252,356,203 Weighted average common shares outstanding - basic 365,553,056 378,927,871 252,356,203 Dilutive effect of OP Units — — 1,451,599 Dilutive effect of employee stock purchase plan — — 65,519 Weighted average common shares outstanding - diluted 365,553,056 378,927,871 253,873,321 Net (loss) income $ (663,904) $ (282,083) $ 40,693 Income allocated to participating securities (3,122) (2,504) (2,437) Net loss attributable to non-controlling interest 9,419 3,822 204 Adjustment to loss attributable to non-controlling interest for legally outstanding restricted units (2,798) (851) — Net (loss) income applicable to common stockholders - basic $ (660,405) $ (281,616) $ 38,460 Net income attributable to OP Units — — 81 Net income applicable to common stockholders - diluted $ (660,405) $ (281,616) $ 38,541 Basic earnings per common share - net income $ (1.81) $ (0.74) $ 0.15 Diluted earnings per common share - net income $ (1.81) $ (0.74) $ 0.15 The effect of OP units convertible into 3,652,553 shares and options to purchase 4,751 sha res under the Company's Employee Stock Purchase Plan for the year ended December 31, 2024 were excluded from the calculation of diluted loss per common share because the effect was anti-dilutive as a result of the loss from continuing operations incurred during the year.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tenant Improvements The Company may provide a tenant improvement allowance in new or renewal leases for the purpose of refurbishing or renovating tenant space. As of December 31, 2024, the Company had commitments of approximately $212.8 million that are expected to be spent on tenant improvements throughout the portfolio, excluding development properties currently under construction. Land Held for Development Land held for development includes parcels of land owned by the Company, upon which the Company intends to develop and own outpatient healthcare facilities. The Company's land held for development included 15 parcels as of December 31, 2024 and 17 parcels as of December 31, 2023. The Company’s investments in land held for development totaled approximately $52.4 million as of December 31, 2024 and $59.9 million as of December 31, 2023. The current land held for development is located adjacent to certain of the Company's existing medical office buildings in Colorado, Connecticut, Florida, Georgia, Massachusetts, New York, Tennessee, Texas, and Washington. Security Deposits and Letters of Credit As of December 31, 2024, the Company held approximately $33.4 million in letters of credit and security deposits for the benefit of the Company in the event the obligated tenant fails to perform under the terms of its respective lease. Generally, the Company may, at its discretion and upon notification to the tenant, draw upon these instruments if there are any defaults under the leases.

Other Data

Other Data	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Other Data	Other Data Taxable Income (unaudited) The Company has elected to be taxed as a REIT, as defined under the Internal Revenue Code. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its taxable income to its stockholders. As a REIT, the Company generally will not be subject to federal income tax on taxable income it distributes currently to its stockholders. Accordingly, no provision for federal income taxes has been made in the accompanying Consolidated Financial Statements. If the Company fails to qualify as a REIT for any taxable year, then it will be subject to federal income taxes at regular corporate rates, including any applicable alternative minimum tax, and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies as a REIT, it may be subject to certain state and local taxes on its income and property and to federal income and excise tax on its undistributed taxable income. Earnings and profits (as defined under the Internal Revenue Code), the current and accumulated amounts of which determine the taxability of distributions to stockholders, vary from net income attributable to common stockholders and taxable income because of different depreciation recovery periods, depreciation methods, and other items. While Legacy HR was considered the accounting acquirer in the Merger for GAAP purposes, Legacy HR’s separate tax existence ceased with the Merger and Legacy HTA continues as the tax successor. On a tax basis, the Company’s gross real estate assets totaled approximately $11.1 billion, $12.6 billion and $13.0 billion as of December 31, 2024, 2023 and 2022, respectively. Characterization of Distributions (unaudited) Distributions in excess of earnings and profits generally constitute a return of capital. The table below gives the characterization of the distributions of the Company’s common stock for the years ended December 31, 2024, 2023 and 2022. For the years ended December 31, 2024, 2023 and 2022, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods. YEAR ENDED DECEMBER 31, 2024 2023 2022 PER SHARE PER SHARE PER SHARE Tax Treatment of Dividends Pre-Merger Healthcare Trust of America Ordinary income 1 $ — $ — $ 0.5862 Return of capital — — 4.0162 Capital gain — — 1.2216 Common stock distributions $ — $ — $ 5.8240 Tax Treatment of Dividends Pre-Merger Healthcare Realty Ordinary income 1 $ — $ — $ 0.2655 Return of capital — — 0.5555 Capital gain — — — Common stock distributions $ — $ — $ 0.8210 Tax Treatment of Dividends Post-Merger Healthcare Realty Ordinary income 1 $ 0.4335 $ 0.5482 $ 0.0422 Return of capital 0.7558 0.5031 0.2889 Capital gain 0.0507 0.1887 0.0879 Common stock distributions $ 1.2400 $ 1.2400 $ 0.4190 1 Reporting year ordinary income is also Code Section 199A eligible per the The Tax Cut and Jobs Act of 2017. State Income Taxes The Company must pay certain state income taxes, which are typically included in general and administrative expense on the Company’s Consolidated Statements of Operations. The State of Texas gross margins tax on gross receipts from operations is disclosed in the table below as an income tax. State income tax expense and state income tax payments for the years ended December 31, 2024, 2023 and 2022 are detailed in the table below: YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 State income tax expense Texas gross margins tax $ 1,674 $ 1,206 $ 1,693 Other 126 133 151 Total state income tax expense $ 1,800 $ 1,339 $ 1,844 State income tax payments, net of refunds and collections $ 1,787 $ 1,324 $ 1,834

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
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, cash equivalents and restricted cash - The carrying amount approximates fair value (level 1 inputs) due to the short-term maturity of these investments. • Real estate notes receivabl e - Real estate notes receivable is 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 using level 2 inputs in the hierarchy. However, the fair value of one note receivable was determined utilizing the fair value of the receivable's collateral, which was determined based on an executed purchase and sale agreement of the underlying collateral, and therefore was classified as level 1 inputs in the hierarchy. • 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 assets/liabilities on the Company's Consolidated Balance Sheets at fair value. Fair value is estimated by utilizing pricing models, level 2 inputs, which consider forward yield curves and discount rates. See Note 11 for additional information. The table below details the fair value and carrying values for our other financial instruments as of December 31, 2024 and 2023. December 31, 2024 December 31, 2023 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1, 2 $ 4,662.8 $ 4,578.4 $ 4,994.9 $ 4,872.7 Real estate notes receivable $ 127.2 $ 122.4 $ 173.6 $ 172.5 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets. 2 Fair value for senior notes includes accrued interest as of December 31, 2024.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company’s current business strategy with a single reportable segment related to its medical outpatient properties. Within this portfolio, the Company owns, leases, acquires, invests in joint ventures, manages, finances, develops and redevelops its properties and reports the operating results in the accompanying Consolidated Financial Statements. The CODM assess performance and allocate resources based on consolidated net income (loss) as reported on the Company's Statements of Operations. The Company uses net income to monitor expected versus actual results to assess the segment's performance. The measure of the Company's reportable segment assets is reported on the Company's Consolidated Balance Sheets as total assets. Pursuant to ASU 2023-07, Segment Reporting (Topic 280), public entities are required to disclose more detailed information about significant reportable segment expenses that are regularly provided to the CODM. The table below details the significant expenses for the years ended December 31, 2024, 2023 and 2022. YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 Significant Segment Expenses: Property taxes $ 126,692 $ 137,634 $ 98,101 Personnel 92,935 94,775 79,222 Utilities 97,889 101,840 65,999 Maintenance 110,962 117,969 80,527 Totals $ 428,478 $ 452,218 $ 323,849 The following schedule reconciles net income to segment expenses. YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 Revenue $ 1,268,316 $ 1,343,769 $ 932,637 Property taxes (126,692) (137,634) (98,101) Personnel (92,935) (94,775) (79,222) Utilities (97,889) (101,840) (65,999) Maintenance (110,962) (117,969) (80,527) Other segment expenses (128,087) (106,624) (72,923) Transaction costs (3,122) (2,026) (3,229) Merger-related costs — 1,952 (103,380) Depreciation and amortization (675,152) (730,709) (453,082) Gain on sales of real estate properties and other assets 109,753 77,546 270,271 Interest expense (242,425) (258,584) (146,691) (Loss) gain on extinguishment of debt (237) 62 (2,401) Impairment of real estate properties and credit loss reserves (313,547) (154,912) (54,427) Impairment of goodwill (250,530) — — Equity loss from unconsolidated joint ventures (135) (1,682) (687) Interest and other (expense) income, net (260) 1,343 (1,546) Net (loss) income $ (663,904) $ (282,083) $ 40,693

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions In the ordinary course of conducting its business, the Company enters into agreements with affiliates in relation to the management and leasing of its real estate assets, including real estate assets owned through joint ventures.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II – Valuation and Qualifying Accounts for the years ended December 31, 2024, 2023 and 2022 Dollars in thousands ADDITIONS AND DEDUCTIONS DESCRIPTION BALANCE CHARGED/(CREDITED) TO COSTS AND EXPENSES CHARGED UNCOLLECTIBLE ACCOUNTS WRITTEN-OFF BALANCE 2024 Accounts receivable allowance $ 8,404 $ 2,094 $ — $ 962 $ 9,536 2023 Accounts receivable allowance $ 3,954 $ 5,119 $ — $ 669 $ 8,404 2022 Accounts receivable allowance $ 654 $ 3,306 $ — $ 6 $ 3,954

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation	Schedule III – Real Estate and Accumulated Depreciation as of December 31, 2024 Dollars in thousands LAND 1 BUILDINGS, IMPROVEMENTS, LEASE INTANGIBLES AND CIP 1 MARKET NUMBER OF PROP. INITIAL INVESTMENT COST CAPITALIZED subsequent to acquisition TOTAL INITIAL INVESTMENT COST CAPITALIZED subsequent to acquisition TOTAL PERSONAL PROPERTY 2, 3, 5, 6 1, 3, 6 ACCUMULATED DEPRECIATION 4 ENCUMBRANCES 5 DATE CONST. Dallas, TX 39 $ 59,646 $ 13,383 $ 73,029 $ 734,249 $ 171,324 $ 905,573 $ 547 $ 979,149 $ 245,493 $ — 2003-2022 1974-2015 Seattle, WA 24 41,251 4,021 45,272 457,146 95,775 552,921 679 598,872 184,304 — 2008-2022 1974-2018 Charlotte, NC 31 25,635 7,345 32,980 433,524 54,597 488,121 133 521,234 134,075 — 2008-2020 1961-2018 Houston, TX 26 50,389 10,812 61,201 528,854 27,686 556,540 46 617,787 106,416 — 2007-2022 1980-2018 Denver, CO 26 49,621 9,918 59,539 373,784 56,284 430,068 605 490,212 109,752 — 2007-2022 1977-2020 Atlanta, GA 24 31,501 8,394 39,895 369,109 17,252 386,361 102 426,358 86,861 — 2007-2022 1974-2014 Boston, MA 16 117,857 9,590 127,447 336,494 (17,422) 319,072 14 446,533 62,449 — 2012-2016 1860-2011 Los Angeles, CA 15 47,027 2,743 49,770 201,800 67,303 269,103 401 319,274 131,477 17,113 1994-2020 1964-2003 Phoenix, AZ 35 21,120 8,057 29,177 469,183 54,748 523,931 427 553,535 84,116 — 2007-2017 1971-2008 Raleigh, NC 25 47,773 10,134 57,907 372,169 23,205 395,374 13 453,294 55,468 — 2010-2022 1977-2020 Nashville, TN 11 35,670 2,387 38,057 240,744 108,513 349,257 4,422 391,736 128,686 7,391 2004-2022 1960-2022 Miami, FL 14 19,100 3,789 22,889 245,413 38,346 283,759 176 306,824 75,640 — 1994-2020 1954-2009 Tampa, FL 18 23,491 7,095 30,586 319,520 19,969 339,489 33 370,108 53,946 — 1994-2023 1975-2015 Indianapolis, IN 39 42,629 8,245 50,874 274,723 23,130 297,853 13 348,740 50,188 — 2007-2019 1988-2013 New York, NY 14 58,719 4,658 63,377 179,119 9,882 189,001 — 252,378 26,533 — 2014-2019 1920-2000 Austin, TX 11 16,719 4,882 21,601 216,066 20,364 236,430 37 258,068 46,372 — 2013-2022 1986-2015 Washington, DC 9 3,756 1,509 5,265 187,304 36,987 224,291 48 229,604 59,598 — 2004-2021 1959-2011 Chicago, IL 6 11,250 2,554 13,804 204,996 19,989 224,985 81 238,870 45,205 — 2004-2019 1970-2017 San Francisco, CA 6 48,443 737 49,180 164,562 27,213 191,775 52 241,007 59,302 — 2015-2022 1912-2014 Orlando, FL 7 6,734 3,059 9,793 180,641 6,929 187,570 1 197,364 29,866 — 1998-2017 1994-2009 Other (45 markets) 190 214,962 57,722 272,684 2,793,299 233,856 3,027,155 2,079 3,301,918 713,184 20,633 1993-2023 Total real estate 586 973,293 181,034 1,154,327 9,282,699 1,095,930 10,378,629 9,909 11,542,865 2,488,931 45,137 Land held for develop. — 52,408 — 52,408 — — — — 52,408 — Construction in Progress — — — — 31,978 — 31,978 — 31,978 — — Financing lease right-of-use assets — — — — — — — — 77,343 — — Investment in financing receivables, net — — — — — — — — 123,671 — — Total properties 586 $ 1,025,701 $ 181,034 $ 1,206,735 $ 9,314,677 $ 1,095,930 $ 10,410,607 $ 9,909 $ 11,828,265 $ 2,488,931 $ 45,137 1 Includes three asset held for sale as of December 31, 2024 with gross real estate investments of approximately $17.6 million. 2 Total properties as of December 31, 2024 have an estimated aggregate total cost of $11.1 billion for federal income tax purposes. 3 Depreciation is provided for on a straight-line basis on buildings and improvements over 3.3 to 49.0 years, lease intangibles over 1.0 to 99.0 years, personal property over 3.0 to 10.0 years, and land improvements over 2.0 to 39.0 years. 4 Includes unamortized premium of $0.1 million and unaccreted discount of $0.1 million and debt issuance costs of $0.1 million as of December 31, 2024. 5 Includes merger of Healthcare Trust of America, Inc. buildings, acquired in 2022. 6 Rollforward of Total Property and Accumulated Depreciation, including assets held for sale, for the year ended December 31, 2024, 2023 and 2022 follows: YEAR ENDED DEC. 31, 2024 YEAR ENDED DEC. 31, 2023 YEAR ENDED DEC. 31, 2022 Dollars in thousands TOTAL PROPERTY ACCUMULATED DEPRECIATION TOTAL PROPERTY ACCUMULATED DEPRECIATION TOTAL PROPERTY ACCUMULATED DEPRECIATION Beginning balance $ 13,408,713 $ 2,227,766 $ 14,076,475 $ 1,645,271 $ 5,104,942 $ 1,338,743 Additions during the period Real estate acquired — — 54,024 2,322 9,780,070 241,285 Other improvements 53,748 549,160 28,521 668,069 219,783 205,703 Land held for development — — — 49,416 — Construction in progress 69,598 — 49,901 — 31,586 — Investment in financing receivable, net 1,541 — 2,366 — (66,509) — Financing lease right-of-use assets, net (4,865) — (1,616) — 52,249 — Corporate Properties — — — — 3,640 236 Retirement/dispositions Real estate (1,700,470) (287,995) (800,958) (87,896) (1,098,702) (140,696) Ending balance $ 11,828,265 $ 2,488,931 $ 13,408,713 $ 2,227,766 $ 14,076,475 $ 1,645,271

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate Assets	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate Assets	Schedule IV – Mortgage Loans on Real Estate Assets as of December 31, 2024 Dollars in thousands Final Maturity Date Payment Terms Prior Liens Face Amount Carrying Amount Principal Amount of Loans Subject to Delinquent Principal or Interest Mortgage loan on real estate located in: Texas 7.00 % 12/2/2024 (1) $ — $ 31,150 $ 14,900 $ 31,150 North Carolina 8.00 % 12/22/2024 (2) — 6,000 7,441 7,441 Florida 6.00 % 2/27/2026 (3) — 37,661 37,832 — California 6.00 % 3/29/2026 (4) — 45,000 45,185 — Florida 9.00 % 12/28/2026 (5) — 6,538 6,538 — Texas 7.50 % 10/02/2029 (4) — 9,629 9,689 — Mezzanine loans on real estate located in: Arizona 9.00 % 12/20/2026 (4) — 6,000 6,038 — Texas 11.00 % 10/02/2029 (4) — 1 1 — Total real estate notes receivable $ — $ 141,979 $ 127,624 $ 38,591 1 Twelve-month prefunded interest reserve, with principal sum and interest on unpaid principal due on the maturity date. Loan on non-accrual status as of December 31, 2024. 2 Capitalized interest through maturity, with outstanding principal and accrued interest due on the maturity date. 3 Construction loan up to $65 million with periodic disbursements. Interest only payments due with principal and any unpaid interest due on the maturity date. 4 Interest only payments due with principal and any unpaid interest due on the maturity date. 5 Monthly installment payments of principal and interest in the amount of $152,069. The following shows changes in the carrying amounts of mortgage loans on real estate assets during the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Balance as of the beginning of the year $ 173,614 $ 99,643 $ — Additions: Fair value real estate notes assumed — — 74,819 New real estate notes 9,630 58,700 23,325 Draws on existing real estate notes 5,505 19,103 Capitalized interest — — 1,499 Accretion of fees and other items 3,600 1,364 — Deductions: Collection of real estate loans (5,162) — — Deferred fees and other items — — — Allowance for credit loss (59,563) (5,196) — Balance as of the end of the year $ 127,624 $ 173,614 $ 99,643 All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are omitted because they are not required under the related instructions or are not applicable, or because the required information is shown in the consolidated financial statements or notes thereto.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (654,485)	$ (278,261)	$ 40,897

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Company also engages with third parties on an as-needed basis to advise and assist in managing cybersecurity risks. When the Company utilizes third-party services that include web-based platforms or data collection stored on third-party servers, it reviews the service provider’s SOC1 attestation reports on internal controls and inquires regarding controls and procedures utilized by such third parties with respect to cybersecurity of the Company’s data. The Company has in place a cybersecurity incident response plan. Procedures for addressing cybersecurity incidents include reporting incidents up to senior management, including the Company’s legal department for analysis. If a cybersecurity incident were determined to be material by the Company's legal department, the Company’s Audit Committee would be informed promptly and the Company’s disclosure committee would address appropriate public disclosures. As noted above, management regularly reports to the Audit Committee regarding the current cyber threat environment and the controls and procedures meant to address such risks. The Company carries cyber risk insurance, but there can be no assurance that losses from a cybersecurity incident would not exceed the insurance coverage.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company annually reviews its overall risk profile with the Audit Committee and full Board of Directors. Assessing, identifying and managing material risks from cybersecurity threats are integrated into the Company’s overall risk management processes.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company annually reviews its overall risk profile with the Audit Committee and full Board of Directors. Assessing, identifying and managing material risks from cybersecurity threats are integrated into the Company’s overall risk management processes. The Audit Committee of the Company’s Board of Directors has oversight in the management of risks associated with cybersecurity. The Audit Committee is briefed regularly on cybersecurity matters, including meeting with the Company’s Chief Technology Officer at least annually and receiving a memorandum quarterly regarding cybersecurity. In addition, the Audit Committee discusses cybersecurity with other members of management and the internal audit staff at each quarterly meeting. The Audit Committee reports to the full Board of Directors quarterly regarding cybersecurity. Management of the Company plays an integral role in assessing and managing risks from cybersecurity threats. The Company has a dedicated technology services department, led by the Company’s Chief Technology Officer. The Company also has an in-house internal audit staff that is involved in risk management of cybersecurity threats. The Company solicits input from key employees regarding the overall risk environment, including cybersecurity threats. The Company requires all employees to complete cybersecurity training semi-annually and periodically facilitates penetration tests on the Company's systems.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of the Company’s Board of Directors has oversight in the management of risks associated with cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee is briefed regularly on cybersecurity matters, including meeting with the Company’s Chief Technology Officer at least annually and receiving a memorandum quarterly regarding cybersecurity. In addition, the Audit Committee discusses cybersecurity with other members of management and the internal audit staff at each quarterly meeting. The Audit Committee reports to the full Board of Directors quarterly regarding cybersecurity.
Cybersecurity Risk Role of Management [Text Block]	Management of the Company plays an integral role in assessing and managing risks from cybersecurity threats. The Company has a dedicated technology services department, led by the Company’s Chief Technology Officer. The Company also has an in-house internal audit staff that is involved in risk management of cybersecurity threats. The Company solicits input from key employees regarding the overall risk environment, including cybersecurity threats. The Company requires all employees to complete cybersecurity training semi-annually and periodically facilitates penetration tests on the Company's systems.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Audit Committee of the Company’s Board of Directors has oversight in the management of risks associated with cybersecurity. The Audit Committee is briefed regularly on cybersecurity matters, including meeting with the Company’s Chief Technology Officer at least annually and receiving a memorandum quarterly regarding cybersecurity. In addition, the Audit Committee discusses cybersecurity with other members of management and the internal audit staff at each quarterly meeting. The Audit Committee reports to the full Board of Directors quarterly regarding cybersecurity. Management of the Company plays an integral role in assessing and managing risks from cybersecurity threats. The Company has a dedicated technology services department, led by the Company’s Chief Technology Officer. The Company also has an in-house internal audit staff that is involved in risk management of cybersecurity threats. The Company solicits input from key employees regarding the overall risk environment, including cybersecurity threats. The Company requires all employees to complete cybersecurity training semi-annually and periodically facilitates penetration tests on the Company's systems.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	the Company’s Executive Vice President and Chief Administrative Officer and the members of its legal department do not have a technology services background, we believe that the Company’s Chief Technology Officer and technology services team possess the requisite background and experience to effectively manage the Company’s cybersecurity needs. The Company's Chief Technology Officer has extensive information technology and program management experience from service in the government and private and public Fortune 100 companies. He has expanded the Company's cybersecurity program over the last several years resulting in a robust enterprise security posture focused on preventing cybersecurity incidents, while simultaneously increasing the Company's system resilience in an effort to minimize the business impact if an incident should occur.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee is briefed regularly on cybersecurity matters, including meeting with the Company’s Chief Technology Officer at least annually and receiving a memorandum quarterly regarding cybersecurity. In addition, the Audit Committee discusses cybersecurity with other members of management and the internal audit staff at each quarterly meeting. The Audit Committee reports to the full Board of Directors quarterly regarding cybersecurity. Management of the Company plays an integral role in assessing and managing risks from cybersecurity threats. The Company has a dedicated technology services department, led by the Company’s Chief Technology Officer. The Company also has an in-house internal audit staff that is involved in risk management of cybersecurity threats. The Company solicits input from key employees regarding the overall risk environment, including cybersecurity threats. The Company requires all employees to complete cybersecurity training semi-annually and periodically facilitates penetration tests on the Company's systems.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Business Overview	Business Overview
Principles of Consolidation	Principles of Consolidation The Company’s 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 the Company 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”). ASC Topic 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is the VIE’s primary beneficiary, with any minority interests reflected as non-controlling interests or redeemable non-controlling interests in the accompanying 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. The OP is 98.7% 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 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 December 31, 2024, there were approximately 4.6 million, or 1.3%, of OP Units issued and outstanding held by non-controlling interest holders. Additionally, the Company i
Variable Interest Entities	As of December 31, 2024, 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 Consolidated Financial Statements	Use of Estimates in the Consolidated Financial Statements Preparation of the Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates and assumptions. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, impairments, collectability of tenant receivables, and fair value measurements, as applicable.
Segment Reporting	Segment Reporting
Real Estate Properties	Real Estate Properties Real estate properties are recorded at cost or at fair value if acquired in a transaction that is a business combination under ASC Topic 805, Business Combinations
Asset Impairment	Asset Impairment The Company assesses the potential for impairment of identifiable, definite-lived, intangible assets and long-lived assets, including real estate properties, whenever events occur or a change in circumstances indicates that the carrying value might not be fully recoverable. Indicators of impairment may include significant underperformance of an asset relative to historical or expected operating results; significant changes in the Company’s use of assets or the strategy for its overall business; plans to sell an asset before its useful life has ended; the expiration of a significant portion of leases in a property; or significant negative economic trends or negative industry trends for the Company or its tenants. In addition, the Company reviews for possible impairment, those assets subject to purchase options and those impacted by casualty losses, such as tornadoes and hurricanes. A property value is considered impaired only if management's estimate of current and projected (undiscounted and unleveraged) operating cash flows of the property is less than the net carrying value of the property. These estimates of future cash flows include only those that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the property. These estimates, including the useful life determination which can be affected by any potential sale of the property, are based on management's assumptions about its use of the property. Therefore, significant judgment is involved in estimating the current and projected cash flows. If management determines that the carrying value of the Company’s assets may not be fully recoverable
Acquisitions of Real Estate Properties with In-Place Leases	Acquisitions of Real Estate Properties with In-Place Leases The Company's acquisitions of real estate properties typically do not meet the definition of a business and are accounted for as asset acquisitions. Acquisitions of real estate properties with in-place leases are accounted for at relative fair value. When a building with in-place leases is acquired, the cost of the acquisition must be allocated between the tangible real estate assets "as-if-vacant" and the intangible real estate assets related to in-place leases based on their estimated fair values. Land fair value is estimated by using an assessment of comparable transactions and other relevant data. The Company considers whether any of the in-place lease rental rates are above- or below-market. An asset (if the actual rental rate is above-market) or a liability (if the actual rental rate is below-market) is calculated and recorded in an amount equal to the present value of the future cash flows that represent the difference between the actual lease rate and the estimated market rate. If an in-place lease is identified as a below-market rental rate, the Company would also evaluate any renewal options associated with that lease to determine if the intangible should include those periods. The values related to above- or below-market in-place lease intangibles are amortized over the remaining term of the leases upon acquisition to rental income where the Company is the lessor and to property operating expense where the Company is the lessee. The Company also estimates an absorption period, which can vary by property, assuming the building is vacant and must be leased up to the actual level of occupancy when acquired. During that absorption period, the owner would incur direct costs, such as tenant improvements, and would suffer lost rental income. Likewise, the owner would have acquired a measurable asset in that, assuming the building was vacant, certain fixed costs would be avoided because the actual in-place lessees would reimburse a certain portion of fixed costs through expense reimbursements during the absorption period. These assets (above- or below-market lease, tenant improvement, leasing costs avoided, rental income lost, and expenses recovered through in-place lessee reimbursements) are estimated and recorded in amounts equal to the present value of estimated future cash flows. The actual purchase price is allocated based on the various relative asset fair values described above. The building and tenant improvement components of the purchase price are depreciated over the estimated useful life of the building or the weighted average remaining term of the in-place leases. The at-market, in-place lease intangibles are amortized to depreciation and amortization expense over the weighted average remaining term of the leases, and customer relationship assets are amortized to depreciation and amortization expense over terms applicable to each acquisition. Any goodwill recorded through a business combination would be reviewed for impairment at least annually and is not amortized.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 – quoted prices for identical instruments in active markets; • Level 2 – quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Fair Value of Derivative Financial Instruments	Fair Value of Derivative Financial Instruments
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents includes short-term investments with original maturities of three months or less when purchased. Restricted cash includes cash held in escrow in connection with proceeds from the sales of certain real estate properties. The Company did not have any restricted cash for the years ended December 31, 2024 or 2023. Cash and cash equivalents are held in bank accounts and overnight investments. The Company maintains its bank deposits with large financial institutions in amounts that often exceed federally-insured limits. The Company has not experienced any losses in such accounts.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually for impairment. Intangible assets with finite lives are amortized over their respective lives to their estimated residual values and are reviewed for impairment only when impairment indicators are present. Identifiable intangible assets of the Company are comprised of enterprise goodwill, in-place lease intangible assets, customer relationship intangible assets, and debt issuance costs. In-place lease and customer relationship intangible assets are amortized on a straight-line basis over the applicable lives of the assets. Debt issuance costs are amortized over the term of the debt instrument on the effective interest method or the straight-line method when the effective interest method is not applicable.
Contingent Liabilities	Contingent Liabilities From time to time, the Company may be subject to loss contingencies arising from legal proceedings and similar matters. Additionally, while the Company maintains comprehensive liability and property insurance with respect to each of its properties, the Company may be exposed to unforeseen losses related to uninsured or underinsured damages. The Company continually monitors any matters that may present a contingent liability, and, on a quarterly basis, management reviews the Company’s reserves and accruals in relation to each of them, adjusting provisions as necessary in view of changes in available information. Liabilities for contingencies are first recorded when a loss is determined to be both probable and can be reasonably estimated. Changes in estimates regarding the exposure to a contingent loss are reflected as adjustments to the related liability in the periods when they occur. Because of uncertainties inherent in the estimation of contingent liabilities, it is possible that the Company’s provision for contingent losses could change materially in the near term. To the extent that any significant losses, in addition to amounts recognized, are at least reasonably possible, such amounts will be disclosed in the notes to the Consolidated Financial Statements.
Share-based Compensation	Share-Based Compensation
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income
Revenue from Contracts with Customers (Topic 606)	Revenue from Contracts with Customers (Topic 606) The Company recognizes certain revenue under the core principle of Topic 606. This 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. The Company’s two major types of revenue that are accounted for under Topic 606 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. In most cases, the revenue is due and payable on a monthly basis. The Company had a receivable balance of $1.9 million, $1.9 million and $1.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Management fee income includes property management services provided to third parties and certain of the properties in the Company's unconsolidated joint ventures and is generally calculated, accrued and billed monthly based on a percentage of cash collections of tenant receivables for the month or a stated amount per square foot. Management fee income also includes amounts paid to the Company for its asset management services for certain of its unconsolidated joint ventures. Internal management fee income, where the Company manages its owned properties, is eliminated in consolidation. Rental Income Rental income related to non-cancelable operating leases is recognized as earned over the life of the lease agreements on a straight-line basis. The Company's lease agreements generally include provisions for stated annual increases or increases based on a Consumer Price Index ("CPI"). Rental income from properties under multi-tenant office lease arrangements and rental income from properties with single-tenant lease arrangements are included in rental income on the Company's Consolidated Statements of Operations. For lessors, the standard requires a lessor to classify leases as either sales-type, direct-financing or operating. A lease will be treated as a sale if it is considered to transfer control of the underlying asset to the lessee. A lease will be classified as direct-financing if risks and rewards are conveyed without the transfer of control. Otherwise, the lease is treated as an operating lease. Nonlease components, such as common area maintenance, are generally accounted for under Topic 606 and separated from the lease payments. However, the Company elected the lessor practical expedient allowing the Company to not separate these components when certain conditions are met. The combined component is accounted for under Accounting Standards Codification, Topic 842.
Federal Income Taxes	Federal Income Taxes The Company believes it has qualified to be taxed as a REIT and intends at all times to continue to qualify as a REIT under Sections 856 through 860 of the Internal Revenue Code. The Company must distribute at least 90% per annum of its real estate investment trust taxable income to its stockholders and meet other requirements to continue to qualify as a real estate investment trust. As a REIT, the Company is generally not subject to federal income tax on net income it distributes to its stockholders, but may be subject to certain state and local taxes and fees. See Note 16 for further discussion. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income taxes on its taxable income and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which the qualification is lost unless the IRS grants it relief under certain statutory provisions. Such an event could have a material adverse effect on its business, financial condition, results of operations and net cash available for dividend distributions to its stockholders. The Company conducts substantially all of its operations through the OP. As a partnership, the OP generally is not liable for federal income taxes. The income and loss from the operations of the OP is included in the tax returns of its partners, including the Company, who are responsible for reporting their allocable share of the partnership income and loss. Accordingly, no provision for income tax has been made in the accompanying consolidated financial statements. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Consolidated Financial Statements as a component of general and administrative expenses. No such amounts were recognized during the three years ended December 31, 2024. Federal tax returns for the years 2021, 2022, 2023 and 2024 are currently subject to examination by taxing authorities.
State Income Taxes	State Income Taxes
Sales and Use Taxes	Sales and Use Taxes The Company must pay sales and use taxes to certain state tax authorities based on rents collected from tenants in properties located in those states. The Company is generally reimbursed for these taxes by the tenant. The Company accounts for the payments to the taxing authority and subsequent reimbursement from the tenant on a net basis in rental income in the Company’s Consolidated Statements of Operations.
Assets Held for Sale	Assets Held for Sale
Earnings Per Share	Earnings per Share The Company uses the two-class method of computing net earnings per common share. Earnings per common share is calculated by considering share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents as participating securities. Undistributed earnings (excess net income over dividend payments) are allocated on a pro rata basis to common shareholders and restricted shareholders. Undistributed losses (dividends in excess of net income) do not get allocated to restricted stockholders as they do not have the contractual obligation to share in losses. The amount of undistributed losses that applies to the restricted stockholders is allocated to the common stockholders.
Redeemable Non-Controlling Interests	Redeemable Non-Controlling Interests
Investments in Leases - Financing Receivables, Net and Real Estate Notes Receivable and Interest Income	Investments in Leases - Financing Receivables, Net Real Estate Notes Receivable 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 ASC 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. The determination of the credit allowance is based on a quarterly evaluation of all outstanding loans, including general economic conditions and estimated collectability of loan payments. The Company evaluates the collectability of loan receivables based on a combination of credit quality indicators, including, but not limited to, payment status, historical loan charge-offs, financial strength of the borrower and guarantors, and nature, extent, and value of the underlying collateral. A loan is considered to have deteriorated credit quality when, based on current information and events, it is probable that the Company will be unable to collect all amounts due as scheduled according to the contractual terms of the loan agreement. For those loans identified as having deteriorated credit quality, the amount of credit loss is determined on an individual basis. Placement on non-accrual status may be required. Consistent with this definition, all loans on non-accrual status are deemed to have deteriorated credit quality. To the extent circumstances improve and the risk of collectability is diminished, the loan may return to income accrual status. While a loan is on non-accrual status, any cash receipts are applied against the outstanding principal balance. Interest Income Income from Lease Finance Receivables The Company recognized the related income from two financing receivables totaling $8.4 million, $8.3 million and $8.1 million, respectively, for the years ended December 31, 2024, 2023 and 2022, based on an imputed interest rate over the terms of the applicable lease. As a result, the interest recognized from the financing receivable in any particular period will not equal the cash payments from the lease agreement in that period. 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 Interest income over the life of the lease.
New Accounting Pronouncements	New Accounting Pronouncements On November 27, 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting ( Topic 280) . Some of the main provisions of this update to segment reporting include; (i) a requirement to disclose significant segment expenses, on an annual and interim basis, that are regularly provided to the CODM and included within each reported measure of segment profit or loss; (ii) a requirement to disclose the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (iii) a requirement that an entity that has a single reportable segment provide all the disclosures required by the amendments in this update. The Company adopted this ASU, effective for the year ended December 31, 2024. The adoption has no impact on the Company’s financial position, results of operations or cash flows, but has resulted in new footnote disclosure. See Note 18 for details on Segment Reporting. On November 4, 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, that will require entities to provide more detailed information in the notes to the financial statements related to certain expense captions on the face of the income statement. The ASU aims to increase transparency and provide investors with more detailed information about the nature of expenses reported on the face of the income statement. The new standard does not change the requirements for the presentation of expenses on the face of the income statement.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of consolidated balance sheets	Accordingly, such joint ventures have been consolidated, and the table below summarizes the balance sheets of consolidated VIEs, excluding the OP, in the aggregate as of December 31, 2024 and 2023: DECEMBER 31, (dollars in thousands) 2024 2023 Assets: Total real estate investments, net $ 103,933 $ 85,752 Cash and cash equivalents 159 2,144 Other assets, net 4,053 2,704 Total assets $ 108,145 $ 90,600 Liabilities: Notes and bonds payable $ 60,170 $ — Accounts payable and accrued liabilities 2,786 17,835 Other liabilities 45 — Total liabilities $ 63,001 $ 17,835
Schedule of variable interest entity	, the Company accounts for the four 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 $ 14,900 $ 14,900 2021 Charlotte, NC 1 Note receivable 7,441 7,441 2022 Texas 2 Equity method 56,586 56,586 2024 Texas 3 Note receivable 9,689 16,729 2024 Texas 3 Note receivable 1 4,500 1 Assumed mortgage note receivable in connection with the Merger. 2 Includes investments in seven properties. 3 Company provided seller financing and entered into a mortgage loan and a mezzanine loan in connection with a property disposition.
Schedule of assets' estimated useful life	Depreciation and amortization of real estate assets in place as of December 31, 2024, is provided for on a straight-line basis over the asset’s estimated useful life: Land improvements 2.0 to 39.0 years Buildings and improvements 3.3 to 49.0 years Lease intangibles (including ground lease intangibles) 1.0 to 99.0 years Personal property 3.0 to 10.0 years
Schedule of disaggregation of revenue	Below is a detail of the amounts by category: YEAR ENDED DECEMBER 31, in thousands 2024 2023 2022 Type of Revenue Parking income $ 9,329 $ 9,903 $ 8,513 Management fee income/other 1 9,828 7,548 5,193 $ 19,157 $ 17,451 $ 13,706
Schedule of rental income	The components of rental income are as follows: YEAR ENDED DECEMBER 31, in thousands 2024 2023 2022 Property operating income $ 1,202,780 $ 1,270,508 $ 883,953 Straight-line rent 29,996 38,676 23,498 Rental income $ 1,232,776 $ 1,309,184 $ 907,451
Schedule of notes receivable	See below for additional information regarding the Company's financing receivables as of December 31, 2024. (dollars in thousands) ORIGINATION DATE LOCATION INTEREST RATE CARRYING VALUE as of DECEMBER 31, 2024 CARRYING VALUE as of DECEMBER 31, 2023 May 2021 Poway, CA 5.71% $ 116,304 $ 115,239 November 2021 Columbus, OH 6.48% 7,367 7,363 $ 123,671 $ 122,602 (dollars in thousands) ORIGINATION MATURITY STATED INTEREST RATE MAXIMUM LOAN COMMITMENT OUTSTANDING as of INTEREST RECEIVABLE (OTHER ASSETS) ALLOWANCE FOR CREDIT LOSSES FAIR VALUE DISCOUNT AND FEES CARRYING VALUE as of DECEMBER 31, 2024 Mezzanine loans Arizona 12/21/2023 12/20/2026 9.00 % $ 6,000 $ 6,000 $ 38 $ — $ — $ 6,038 Texas 1 10/03/2024 10/02/2029 11.00 % 4,500 1 — — — 1 10,500 6,001 38 — — 6,039 Mortgage loans Texas 2 6/30/2021 12/02/2024 7.00 % 31,150 31,150 551 (16,801) — 14,900 North Carolina 3 12/22/2021 12/22/2024 8.00 % 6,000 6,000 1,441 — — 7,441 Florida 5/17/2022 2/27/2026 6.00 % 65,000 37,661 195 — (24) 37,832 California 3/30/2023 3/29/2026 6.00 % 45,000 45,000 185 — — 45,185 Florida 12/28/2023 12/28/2026 9.00 % 7,700 6,538 — — — 6,538 Texas 1 10/03/2024 10/02/2029 7.50 % 16,729 9,629 60 — — 9,689 171,579 135,978 2,432 (16,801) (24) 121,585 $ 182,079 $ 141,979 $ 2,470 $ (16,801) $ (24) $ 127,624 1 In 2024, the Company provided seller financing of $9.6 million in connection with the sale of a real estate property in Houston, TX. The Company has also committed mezzanine loan funding of up to $4.5 million in connection with this sale. 2 In 2024, the Company determined that an allowance for credit loss of $16.8 million was needed on this mortgage loan, which included approximately $16.3 million of principal and approximately $0.5 million of interest. In January 2025, the underlying collateral for this loan was sold and the Company received $14.9 million towards the principal balance of this loan. 3
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 TWELVE MONTHS ENDED DECEMBER 31, 2024 TWELVE MONTHS ENDED DECEMBER 31, 2023 Allowance for credit losses, beginning of period $ 5,196 $ — Credit loss reserves 1 59,563 5,196 Recoveries 1 (4,000) — Write-off 1 (43,958) — Allowance for credit losses, end of period $ 16,801 $ 5,196 1. On June 24, 2024, the Company's two mezzanine loans in Texas with a total principal balance of $54.1 million matured. On July 15, 2024, the senior lender on the construction loan associated with the underlying project provided notice of foreclosure proceedings to the borrower. In 2024, the Company recorded an allowance for credit loss of $46.8 million to cover the entire carrying amount for these loans. In the fourth quarter of 2024, the capital for the underlying project was restructured and the Company received $4.0 million as consideration for its interest. As of December 31, 2024, the Company no longer has a mezzanine position in connection with these projects.

Merger with HTA (Tables)

Merger with HTA (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 Legacy 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 estimated fair values of the assets acquired and liabilities assumed at the Closing Date: Dollars in thousands PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE CUMULATIVE MEASUREMENT PERIOD ADJUSTMENTS AMOUNTS RECOGNIZED ON THE CLOSING DATE ASSETS Real estate investments Land $ 985,926 $ 18,359 $ 1,004,285 Buildings and improvements 6,960,418 (119,135) 6,841,283 Lease intangible assets (a) 831,920 1,839 833,759 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 $ (102,535) $ 8,742,212 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 16,370 214,631 Other assets, net (b) (c) 209,163 (3,840) 205,323 Total assets acquired $ 11,177,186 $ (87,795) $ 11,089,391 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 (8,909) 194,301 Total liabilities assumed $ 5,635,425 $ 13,844 $ 5,649,269 Net identifiable assets acquired $ 5,541,761 $ (101,639) $ 5,440,122 Non-controlling interest $ 110,702 $ — $ 110,702 Goodwill $ 145,404 $ 101,639 $ 247,043 (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 expected to collect substantially all of the real estate notes receivable proceeds as of the Closing Date. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the real estate acquisitions for 2023 as of the acquisition date: ESTIMATED ESTIMATED Building $ 27.5 17.0 - 30.0 Tenant Improvements 3.4 5.1 - 5.9 Land 5.5 0 Land Improvements 1.1 6.0 - 10.0 Intangibles At-market lease intangibles 4.5 5.1 - 5.9 Above-market lease intangibles (lessor) 0.2 1.8 - 4.9 Below-market lease intangibles (lessor) (0.2) 6.4 - 13.9 Mortgage notes payable assumed, including fair value adjustments (5.3) Other assets acquired 0.1 Accounts payable, accrued liabilities and other liabilities assumed (0.3) Total cash paid $ 36.5

Property Investments (Tables)

Property Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate Investment Property, Net [Abstract]
Schedule of property investment	The following table summarizes the Company’s consolidated investments at December 31, 2024. Dollars in thousands NUMBER OF PROPERTIES LAND BUILDINGS AND IMPROVEMENTS LEASE INTANGIBLES PERSONAL PROPERTY TOTAL ACCUMULATED DEPRECIATION Dallas, TX 39 $ 73,030 $ 864,625 $ 40,948 $ 547 $ 979,150 $ (245,493) Seattle, WA 24 45,272 547,743 5,178 679 598,872 (184,304) Charlotte, NC 31 32,980 462,173 25,947 133 521,233 (134,075) Houston, TX 26 61,201 510,255 46,286 46 617,788 (106,416) Denver, CO 26 55,309 390,453 32,602 605 478,969 (106,457) Atlanta, GA 24 39,895 365,592 20,769 102 426,358 (86,861) Boston, MA 16 120,818 279,881 39,509 14 440,222 (60,469) Los Angeles, CA 15 49,770 265,617 3,486 401 319,274 (131,477) Phoenix, AZ 35 29,177 492,016 31,915 427 553,535 (84,116) Raleigh, NC 25 57,906 366,150 29,224 13 453,293 (55,468) Nashville, TN 11 38,057 339,417 9,840 4,422 391,736 (128,686) Miami, FL 14 22,890 265,974 17,785 176 306,825 (75,640) Tampa, FL 18 30,586 313,381 26,109 33 370,109 (53,946) Indianapolis, IN 39 50,874 274,524 23,329 13 348,740 (50,188) New York, NY 14 63,377 163,038 25,963 — 252,378 (26,533) Austin, TX 11 21,601 217,862 18,568 37 258,068 (46,372) Washington, DC 9 5,265 220,493 3,799 48 229,605 (59,598) Chicago, IL 6 13,804 217,359 7,626 81 238,870 (45,205) San Francisco, CA 6 49,181 181,860 9,915 52 241,008 (59,302) Orlando, FL 7 9,793 170,755 16,815 1 197,364 (29,866) Other (45 markets) 190 272,682 2,797,898 229,254 2,079 3,301,913 (713,184) 586 1,143,468 9,707,066 664,867 9,909 11,525,310 (2,483,656) Investment in financing receivables, net 1 — — — 123,671 — Financing lease right-of-use assets 1 — — — — 77,343 — Construction in progress 1 — — — — 31,978 — Land held for development — — — — — 52,408 — Total real estate investments 589 $ 1,143,468 $ 9,707,066 $ 664,867 $ 9,909 $ 11,810,710 $ (2,483,656)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of future minimum lease payments due to the Company under property operating agreements	Future minimum lease payments under the non-cancelable operating leases, excluding any reimbursements, as of December 31, 2024 were as follows: In thousands 2025 $ 816,029 2026 744,399 2027 634,752 2028 522,433 2029 418,455 2030 and thereafter 1,544,358 $ 4,680,426
Schedule of future minimum operating lease payments	The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of December 31, 2024 were as follows: In thousands OPERATING FINANCING 2025 $ 12,410 $ 2,070 2026 12,540 2,106 2027 12,743 2,145 2028 12,879 2,177 2029 12,944 2,209 2030 and thereafter 657,744 383,172 Total undiscounted lease payments $ 721,260 $ 393,879 Discount (496,761) (321,533) Lease liabilities $ 224,499 $ 72,346
Schedule of future minimum finance lease payments	The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of December 31, 2024 were as follows: In thousands OPERATING FINANCING 2025 $ 12,410 $ 2,070 2026 12,540 2,106 2027 12,743 2,145 2028 12,879 2,177 2029 12,944 2,209 2030 and thereafter 657,744 383,172 Total undiscounted lease payments $ 721,260 $ 393,879 Discount (496,761) (321,533) Lease liabilities $ 224,499 $ 72,346
Schedule of lease cost	The following table provides details of the Company's total lease expense for the years ended December 31, 2024 and 2023: YEAR ENDED DECEMBER 31 In thousands 2024 2023 Operating lease cost Operating lease expense $ 18,076 $ 20,623 Variable lease expense 4,939 8,979 Finance lease cost Amortization of right-of-use assets 1,533 1,564 Interest on lease liabilities 3,727 3,718 Total lease expense $ 28,275 $ 34,884 Other information Operating cash flows outflows related to operating leases $ 15,545 $ 19,222 Operating cash flows outflows related to financing leases $ 2,107 $ 2,122 Financing cash flows outflows related to financing leases $ 17 $ 17 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,855 $ 1,758 Weighted-average remaining lease term (excluding renewal options) - operating leases 44.1 45.8 Weighted-average remaining lease term (excluding renewal options) - finance leases 57.8 57.9 Weighted-average discount rate - operating leases 5.7 % 5.7 % Weighted-average discount rate - finance leases 5.0 % 5.0 %

Acquisitions, Dispositions an_2

Acquisitions, Dispositions and Mortgage Repayments (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of equity method investments	The Company's investment in and loss recognized for the years ended December 31, 2024 and 2023 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below: DECEMBER 31, Dollars in thousands 2024 2023 Investments in unconsolidated joint ventures, beginning of period $ 311,511 $ 327,248 New investments during the period 172,244 3,824 Equity loss recognized during the period (135) (1,682) Owner distributions (10,498) (17,879) Investments in unconsolidated joint ventures, end of period $ 473,122 $ 311,511
Schedule of acquisitions	The following table details the Company's real estate acquisition activity for the year ended December 31, 2023: Dollars in thousands DATE ACQUIRED PURCHASE PRICE MORTGAGE NOTES PAYABLE, NET CASH 1 REAL OTHER 2 SQUARE FOOTAGE Tampa, FL 3/10/23 $ 31,500 $ — $ 30,499 $ 30,596 $ (97) 115,867 Colorado Springs, CO 7/28/23 11,450 (5,284) 6,024 11,416 (108) 42,770 Total real estate acquisitions $ 42,950 $ (5,284) $ 36,523 $ 42,012 $ (205) 158,637 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 assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Closing Date: Dollars in thousands PRELIMINARY AMOUNTS RECOGNIZED ON THE CLOSING DATE CUMULATIVE MEASUREMENT PERIOD ADJUSTMENTS AMOUNTS RECOGNIZED ON THE CLOSING DATE ASSETS Real estate investments Land $ 985,926 $ 18,359 $ 1,004,285 Buildings and improvements 6,960,418 (119,135) 6,841,283 Lease intangible assets (a) 831,920 1,839 833,759 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 $ (102,535) $ 8,742,212 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 16,370 214,631 Other assets, net (b) (c) 209,163 (3,840) 205,323 Total assets acquired $ 11,177,186 $ (87,795) $ 11,089,391 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 (8,909) 194,301 Total liabilities assumed $ 5,635,425 $ 13,844 $ 5,649,269 Net identifiable assets acquired $ 5,541,761 $ (101,639) $ 5,440,122 Non-controlling interest $ 110,702 $ — $ 110,702 Goodwill $ 145,404 $ 101,639 $ 247,043 (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 expected to collect substantially all of the real estate notes receivable proceeds as of the Closing Date. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the real estate acquisitions for 2023 as of the acquisition date: ESTIMATED ESTIMATED Building $ 27.5 17.0 - 30.0 Tenant Improvements 3.4 5.1 - 5.9 Land 5.5 0 Land Improvements 1.1 6.0 - 10.0 Intangibles At-market lease intangibles 4.5 5.1 - 5.9 Above-market lease intangibles (lessor) 0.2 1.8 - 4.9 Below-market lease intangibles (lessor) (0.2) 6.4 - 13.9 Mortgage notes payable assumed, including fair value adjustments (5.3) Other assets acquired 0.1 Accounts payable, accrued liabilities and other liabilities assumed (0.3) Total cash paid $ 36.5
Schedule of dispositions	The following table details the Company's dispositions and joint venture dispositions for the year ended December 31, 2024: Dollars in thousands DATE DISPOSED SALE PRICE CLOSING COSTS & CREDITS COMPANY-FINANCED MORTGAGE NOTES NET CONSIDERATION NET REAL ESTATE INVESTMENT OTHER GAIN/(IMPAIR-MENT) SQUARE FOOTAGE Albany, NY 4/1/24 $ 725 $ (60) $ — $ 665 $ 765 $ (82) $ (18) 14,800 San Angelo, TX 4/12/24 5,085 (128) — 4,957 4,917 66 (26) 24,580 Houston, TX 5/20/24 250 (9) — 241 713 (520) 48 37,040 Multiple 1 5/23/24 284,348 (14,270) — 270,078 254,176 25,836 (9,934) 556,274 Denver, CO 5/30/24 19,000 (628) — 18,372 18,522 165 (315) 37,130 Austin, TX 1 6/6/24 54,858 (1,575) — 53,283 27,964 623 24,696 129,879 Minneapolis, MN 6/21/24 1,082 (144) — 938 303 43 592 50,291 Raleigh, NC 2 6/28/24 99,518 (2,835) — 96,683 86,810 906 8,967 309,424 Albany, NY 8/2/24 6,300 (847) — 5,453 5,528 486 (561) 180,000 Charlotte, NC 8/6/24 26,670 (395) — 26,275 14,853 613 10,809 90,633 Charleston, SC 8/13/24 14,500 (589) — 13,911 11,488 1 2,422 46,711 Multiple 1 8/23/24 118,000 (8,615) — 109,385 113,956 548 (5,119) 266,782 Multiple 3 8/27/24 177,250 (7,085) — 170,165 169,545 5,363 (4,743) 473,003 Austin, TX 9/13/24 42,281 (1,257) — 41,024 14,561 425 26,038 76,246 Raleigh, NC 9/26/24 1,813 (27) — 1,786 1,694 50 42 5,934 Houston, TX 4 10/3/24 12,000 (1,001) (9,630) 1,369 11,266 295 (563) 140,012 Greensboro, NC 10/9/24 12,514 (21) — 12,493 10,152 296 2,045 35,373 Des Moines, IA 10/15/24 31,750 (1,320) — 30,430 13,869 1,662 14,899 95,486 Albany, NY 10/15/24 9,500 (521) — 8,979 7,823 1,193 (37) 80,676 Salt Lake City, UT 5 10/24/24 30,712 (8,962) — 21,750 26,899 (9,406) 4,257 112,192 Miami, FL 10/25/24 36,789 (706) — 36,083 35,925 (209) 367 102,186 Miami, FL 6 10/25/24 17,767 (718) — 17,049 14,650 (210) 2,609 60,761 Cleveland, OH 12/10/24 1,000 (157) — 843 1,454 57 (668) 31,152 Boise, ID 7 12/12/24 18,350 (2,003) — 16,347 17,562 345 (1,560) 83,078 Multiple 1 12/18/24 310,250 (6,767) — 303,483 321,437 6,616 (24,570) 766,622 Atlanta, GA 12/20/24 15,900 (1,318) — 14,582 13,344 635 603 42,921 Los Angeles, CA 7 12/20/24 64,000 (4,805) — 59,195 47,322 1,676 10,197 162,554 Tampa, FL 12/27/24 37,500 (402) — 37,098 41,556 (1,962) (2,496) 95,896 Wichita Falls, TX 12/27/24 600 (130) — 470 2,530 14 (2,074) 25,133 Total dispositions $ 1,450,312 $ (67,295) $ (9,630) $ 1,373,387 $ 1,291,584 $ 35,525 $ 55,907 4,132,769 1. The Company contributed the following medical outpatient properties to a joint venture in which the Company retained 20% ownership: one in each of Raleigh, NC, New York, NY, Philadelphia, PA, Atlanta, GA, Austin, TX, Miami, FL, Denver, CO, Memphis, TN, Indianapolis, IN, and Honolulu, HI; two MOBs in Los Angeles; three MOBs in Houston, TX and Dallas, TX; and five in Seattle, WA. Sale price and square footage reflect the total sale price paid by the joint venture and total square footage of the property. The net proceeds to the Company related to these dispositions totaled $584.9 million. 2. The Company sold seven MOBs in Greensboro, NC and two non-clustered single-tenant MOBs in Raleigh, NC to a single buyer in a single transaction. 3. The Company contributed the following medical outpatient properties to a joint venture in which the Company retained 20% ownership: two in each of Nashville, TN and Denver, CO; one in each of Dallas, TX, San Antonio, TX and Atlanta, GA. Sale price and square footage reflect the total sale price paid by the joint venture and total square footage of the property. The net proceeds to the Company related to these dispositions totaled $148.9 million. 4. The Company provided seller financing of approximately $9.6 million in connection with this sale. 5. The Company sold an MOB that was included in a consolidated joint venture in which the Company held a 63% ownership interest. Proceeds include the Company's pro-rata share of the purchase price as well as amounts due to the Company by the joint venture. 6. Includes two properties. 7. Includes three properties. The following table details the Company's dispositions for the year ended December 31, 2023: Dollars in thousands Type 1 DATE DISPOSED SALE PRICE CLOSING COSTS & CREDITS COMPANY-FINANCED NOTES NET CONSIDERATION NET REAL ESTATE INVESTMENT OTHER 2 GAIN/(IMPAIR-MENT) SQUARE FOOTAGE Tampa/Miami, FL 3 MOB 1/12/23 $ 93,250 $ (5,875) $ — $ 87,375 $ 87,302 $ (888) $ 961 224,037 Dallas, TX 4 MOB 1/30/23 19,210 (141) — 19,069 18,986 43 40 36,691 St. Louis, MO MOB 2/10/23 350 (18) — 332 398 — (66) 6,500 Los Angeles, CA MOB 3/23/23 21,000 (526) — 20,474 20,610 52 (188) 37,165 Los Angeles, CA 5 MOB 3/30/23 75,000 (8,079) (45,000) 21,921 88,624 (803) (20,900) 147,078 Los Angeles, CA 6 Land 5/12/23 3,300 (334) — 2,966 3,268 — (302) — Albany, NY MOB 6/30/23 10,000 (1,229) — 8,771 2,613 (1,040) 7,198 40,870 Houston, TX MOB 8/2/23 8,320 (285) — 8,035 4,567 194 3,274 57,170 Atlanta, GA MOB 8/22/23 25,140 (66) — 25,074 23,226 (536) 2,386 55,195 Dallas, TX Inpatient 9/15/23 115,000 (1,504) — 113,496 64,183 6,094 43,219 161,264 Houston, TX MOB 9/18/23 250 (24) — 226 1,998 — (1,772) 52,040 Chicago, IL MOB 9/27/23 59,950 (870) — 59,080 74,710 (380) (15,250) 104,912 Evansville, IN 7 MOB 11/13/23 18,500 (63) — 18,437 17,807 (149) 779 260,520 Houston, TX Hospital 12/1/23 4,100 (6) — 4,094 3,486 — 608 83,223 Charleston, SC 8 Office 12/15/23 6,200 (401) — 5,799 3,415 — 2,384 15,014 Dallas, TX MOB 12/20/23 43,295 (764) — 42,531 33,882 (3,782) 12,431 77,827 Los Angeles, CA Office 12/21/23 19,000 (1,311) — 17,689 17,787 — (98) 104,377 Tucson, AZ 9,10 MOB 12/22/23 43,230 (3,770) (6,000) 33,460 39,786 (26) (300) 215,471 Miami, FL MOB 12/22/23 18,250 (756) — 17,494 17,354 643 (503) 48,000 Sebring, FL MOB 12/27/23 9,500 (81) — 9,419 10,438 (512) (507) 38,949 Boston, MA MOB 12/28/23 117,197 (2,079) — 115,118 107,803 9,828 (2,513) 161,254 Florida 11 SNF 12/29/23 77,000 (8,678) (7,700) 60,622 65,839 (294) 2,777 354,500 Total dispositions $ 787,042 $ (36,860) $ (58,700) $ 691,482 $ 708,082 $ 8,444 $ 33,658 2,282,057 1. MOB = medical outpatient building; SNF = skilled nursing facility. 2. Includes straight-line rent receivables, leasing commissions and lease inducements. 3. Includes two properties sold in two separate transactions to the same buyer on the same date. 4. 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. 5. The Company entered into a mortgage loan agreement with the buyer for $45.0 million. 6. The Company sold a land parcel totaling 0.34 acres. 7. Includes five properties sold in three separate transactions to the same buyer on the same date. 8. The Company sold a corporate office in Charleston, SC that was 100% occupied by the Company. 9. Includes 12 properties sold in one transaction to the same buyer. 10. The Company entered into a mezzanine loan with the buyer for $6.0 million. 11. Includes three properties sold in one transaction to the same buyer. The Company entered into a separate note receivable for $7.7 million related to this sale.

Held for Sale (Tables)

Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures	The table below reflects the assets and liabilities classified as held for sale as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Balance Sheet data Land $ 10,859 $ 1,850 Buildings and improvements 3,410 6,779 Lease intangibles 3,286 1,017 17,555 9,646 Accumulated depreciation (5,275) (913) Real estate assets held for sale, net 12,280 8,733 Other assets, net 617 101 Assets held for sale, net $ 12,897 $ 8,834 Accounts payable and accrued liabilities $ 694 $ 23 Other liabilities 589 272 Liabilities of properties held for sale $ 1,283 $ 295

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Items included in "Other assets, net" on the Company’s Consolidated Balance Sheets as of December 31, 2024 and 2023 are detailed in the table below: Dollars in thousands December 31, 2024 December 31, 2023 Prepaid assets $ 154,957 $ 116,455 Real estate notes receivable, net 127,624 173,614 Straight-line rent receivables 124,970 116,866 Accounts receivable, net 1 36,495 63,203 Above-market intangible assets, net 32,230 66,695 Interest rate swap assets 5,263 4,634 Project costs 4,903 6,187 Additional long-lived assets, net 4,197 20,717 Net investment in lease 2,168 2,112 Investment in securities 2 1,936 6,011 Debt issuance costs, net 1,758 3,867 Customer relationship intangible assets, net 1,011 1,066 Other 9,984 10,941 $ 507,496 $ 592,368 1 The amounts for December 31, 2024 and 2023 are net of allowance for doubtful accounts of $9.5 million and $8.4 million, respectively. 2 This amount represents the value of the Company's preferred stock investment in a data analytics platform. In 2024, a fair value measurement impairment of $4.1 million was recorded on this investment and is included in "Impairment of real estate properties and credit loss reserves" on the Statement of Operations.

Intangible Assets and Liabili_2

Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite lived intangible assets and liabilities	The Company’s intangible assets and liabilities, including assets held for sale and certain debt issuance costs, as of December 31, 2024 and 2023 consisted of the following: GROSS BALANCE ACCUMULATED AMORTIZATION WEIGHTED AVG. BALANCE SHEET CLASSIFICATION Dollars in millions 2024 2023 2024 2023 Goodwill $ — $ 250.5 $ — $ — N/A Goodwill Credit facility debt issuance costs 6.9 6.9 5.2 3.1 0.9 Other assets, net Above-market lease intangibles (lessor) 74.8 98.0 42.3 31.3 4.0 Other assets, net Customer relationship intangibles (lessor) 2.1 2.1 1.1 1.1 18.6 Other assets, net Below-market lease intangibles (lessor) (98.3) (112.5) (53.1) (35.7) 5.3 Other liabilities At-market lease intangibles 668.2 837.3 353.9 301.7 5.9 Real estate properties $ 653.7 $ 1,082.3 $ 349.4 $ 301.5 5.8
Schedule of expected net future amortization expense	The following table represents expected amortization over the next five years of the Company’s intangible assets and liabilities in place as of December 31, 2024: Dollars in millions FUTURE AMORTIZATION OF INTANGIBLES, NET 2025 $ 114.3 2026 68.4 2027 43.3 2028 24.7 2029 14.9

Notes and Bonds Payable (Tables

Notes and Bonds Payable (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Instrument [Line Items]
Schedule of debt	DECEMBER 31, 1 MATURITY DATES CONTRACTUAL INTEREST RATES EFFECTIVE INTEREST RATES PRINCIPAL PAYMENTS INTEREST PAYMENTS Dollars in thousands 2024 2023 $1.5B Unsecured Credit Facility 2 — — 10/25 SOFR + 0.95% 5.30 % At maturity Monthly $350M Unsecured Term Loan 3 — 349,798 7/25 SOFR + 1.04% 5.59 % At maturity Monthly $200M Unsecured Term Loan 4 199,896 199,903 5/25 SOFR + 1.04% 5.59 % At maturity Monthly $150M Unsecured Term Loan 149,790 149,643 6/26 SOFR + 1.04% 5.59 % At maturity Monthly $300M Unsecured Term Loan 5 299,981 299,958 10/25 SOFR + 1.04% 5.59 % At maturity Monthly $200M Unsecured Term Loan 199,641 199,502 7/27 SOFR + 1.04% 5.59 % At maturity Monthly $300M Unsecured Term Loan 298,708 298,288 1/28 SOFR + 1.04% 5.59 % At maturity Monthly Senior Notes due 2025 249,868 249,484 5/25 3.88 % 4.12 % At maturity Semi-annual Senior Notes due 2026 586,824 579,017 8/26 3.50 % 4.94 % At maturity Semi-annual Senior Notes due 2027 488,104 483,727 7/27 3.75 % 4.76 % At maturity Semi-annual Senior Notes due 2028 298,029 297,429 1/28 3.63 % 3.85 % At maturity Semi-annual Senior Notes due 2030 586,028 575,443 2/30 3.10 % 5.30 % At maturity Semi-annual Senior Notes due 2030 297,190 296,780 3/30 2.40 % 2.72 % At maturity Semi-annual Senior Notes due 2031 296,343 295,832 3/31 2.05 % 2.25 % At maturity Semi-annual Senior Notes due 2031 667,233 649,521 3/31 2.00 % 5.13 % At maturity Semi-annual Mortgage notes payable 45,136 70,534 12/25-12/26 3.60%-4.77% 3.57%-6.88% Monthly Monthly $ 4,662,771 $ 4,994,859 1 Balance is presented net of discounts and issuance costs and inclusive of premiums, where applicable. 2 As of December 31, 2024, the Company had $1.5 billion available to be drawn on its $1.5 billion Unsecured Credit Facility. 3 In 2024, the Company repaid the $350 million Unsecured Term Loan and recognized approximately $0.2 million of accelerated amortization expense included in the loss on extinguishment of debt. 4 In April 2024, the Company exercised its option to extend the maturity date for one year to May 2025 for a fee of approximately $0.3 million. On January 7, 2025 the company made a partial repayment of $25 million on the initial $200 million Unsecured Term Loan. 5
Schedule of mortgage notes payable	The following table details the Company’s mortgage notes payable, with related collateral. ORIGINAL BALANCE EFFECTIVE INTEREST RATE 6 MATURITY COLLATERAL 7 PRINCIPAL AND INTEREST PAYMENTS 8 INVESTMENT IN COLLATERAL BALANCE Dollars in millions 2024 2024 2023 Life Insurance Co. 1 13.3 4.13 % 1/24 MOB Monthly/10-yr amort. — — 11.3 Life Insurance Co. 2 6.8 3.96 % 2/24 MOB Monthly/7-yr amort. — — 5.6 Financial Services 3 9.7 4.32 % 9/24 MOB Monthly/10-yr amort. — — 7.2 Life Insurance Co. 4 16.5 3.57 % 12/25 MOB,OFC Monthly/7-yr amort. 39.7 15.4 15.9 Financial Services 11.5 3.71 % 1/26 MOB Monthly/10-yr amort. 42.3 7.4 7.8 Life Insurance Co. 5 6.0 6.88 % 4/26 MOB Monthly/7-yr amort. 11.8 5.2 5.2 Life Insurance Co. 19.2 4.08 % 12/26 MOB Monthly/10-yr amort. 46.0 17.1 17.5 $ 139.8 $ 45.1 $ 70.5 1 The unamortized portion of the $0.8 million premium recorded on this note upon acquisition is included in the balance above. 2 The unamortized portion of the $0.2 million premium recorded on this note upon acquisition is included in the balance above. 3 The unamortized portion of the $0.1 million premium recorded on this note upon acquisition is included in the balance above. 4 The unamortized portion of the $0.7 million premium recorded on this note upon acquisition is included in the balance above. 5 The unaccreted portion of the $0.3 million discount recorded on this note upon acquisition is included in the balance above. 6 The contractual interest rates for the four outstanding mortgage notes ranged from 3.6% to 4.5% as of December 31, 2024. 7 MOB-Medical outpatient building; OFC-Office 8 Payable in monthly installments of principal and interest with the final payment due at maturity (unless otherwise noted).
Schedule of future contractual maturities of the company's notes and bonds payable	Future maturities of the Company’s notes and bonds payable as of December 31, 2024, were as follows: Dollars in thousands PRINCIPAL MATURITIES NET ACCRETION/ AMORTIZATION 1 DEBT ISSUANCE COSTS 2 NOTES AND % 2025 $ 766,375 $ (43,163) $ (2,020) $ 721,192 15.5 % 2026 778,904 (41,837) (1,650) 735,417 15.8 % 2027 700,000 (36,192) (1,519) 662,289 14.2 % 2028 600,000 (35,179) (707) 564,114 12.1 % 2029 — (37,025) (674) (37,699) (0.8) % 2030 and thereafter 2,049,286 (31,357) (471) 2,017,458 43.2 % $ 4,894,565 $ (224,753) $ (7,041) $ 4,662,771 100.0 % 1 Includes discount accretion and premium amortization related to the Company’s Senior Notes and two mortgage notes payable. 2 Excludes approximate ly $1.8 million in debt issuance costs related to the Company's Unsecured Credit Facility included in other assets, net
Senior Notes
Debt Instrument [Line Items]
Schedule of senior notes assumed with the merger	The following table summarizes the Company’s aggregate Senior notes principal balance as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Senior notes principal balance $ 3,699,285 $ 3,699,285 Unaccreted discount (224,759) (265,852) Debt issuance costs (4,907) (6,200) Senior notes carrying amount $ 3,469,619 $ 3,427,233
Term Loan Net | Term Loan
Debt Instrument [Line Items]
Schedule of debt	The following table summarizes the Company’s aggregate term loan principal balances as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Term loan principal balances 1 $ 1,150,000 $ 1,500,000 Debt issuance costs (1,984) (2,908) Term Loans carrying amount $ 1,148,016 $ 1,497,092 1. In 2024, the Company repaid the $350 million Unsecured Term Loan and recorded approximately $0.2 million of accelerated amortization expense included in the loss of extinguishment of debt.
Mortgage Notes Payable | Mortgage Notes
Debt Instrument [Line Items]
Schedule of debt	The following table summarizes the Company’s aggregate mortgage notes principal balance as of December 31, 2024 and 2023. DECEMBER 31, Dollars in thousands 2024 2023 Mortgage notes payable principal balance $ 45,278 $ 70,752 Unamortized premium 140 285 Unaccreted discount (134) (237) Debt issuance costs (148) (266) Mortgage notes payable carrying amount $ 45,136 $ 70,534

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)	As of December 31, 2024, the Company had interest rate derivatives that were designated as cash flow hedges of interest rate risk. The table below presents the notional value and weighted average rates of the Company's derivative financial instruments as of December 31, 2024 and 2023: NOTIONAL VALUE AS OF WEIGHTED AVERAGE RATE NOTIONAL VALUE AS OF WEIGHTED AVERAGE RATE EXPIRATION DECEMBER 31, 2024 EXPIRATION DECEMBER 31, 2023 January 2024 $ 200,000 1.21 % May 2026 $ 275,000 3.74 % May 2026 275,000 3.74 % June 2026 150,000 3.83 % June 2026 150,000 3.83 % December 2026 150,000 3.84 % December 2026 150,000 3.84 % June 2027 200,000 4.27 % June 2027 200,000 4.27 % December 2027 300,000 3.93 % December 2027 300,000 3.93 % $ 1,075,000 3.92 % $ 1,275,000 3.49 % Tabular Disclosure of the Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) The table below presents the effect of cash flow hedge accounting on Accumulated other comprehensive income (loss) ("AOCI") as of December 31, 2024 and 2023 related to the Company's outstanding interest rate swaps. AMOUNT OF GAIN/(LOSS) RECOGNIZED AMOUNT OF (GAIN)/LOSS RECLASSIFIED Dollars in thousands 2024 2023 2024 2023 Interest rate swaps 2019 $ — $ 1,995 Interest expense $ — $ (6,964) Interest rate swaps 2022 15,237 4,583 Interest expense (10,317) (6,289) Interest rate swaps 2023 7,572 (5,115) Interest expense (3,416) (1,829) Settled treasury hedges — — Interest expense 428 426 Settled interest rate swaps — — Interest expense 168 168 Total $ 22,809 $ 1,463 Total $ (13,137) $ (14,488)
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 Consolidated Balance Sheets as of December 31, 2024 and 2023. AS OF DECEMBER 31, 2024 AS OF DECEMBER 31, 2023 Dollars in thousands BALANCE SHEET LOCATION FAIR BALANCE SHEET LOCATION FAIR Interest rate swaps 2019 Other Assets $ 2,493 Other Assets $ 4,214 Interest rate swaps 2022 Other Assets 2,250 Interest rate swaps 2022 Other Liabilities (853) Other Liabilities (5,067) Interest rate swaps 2023 Other Assets 521 Other Assets 411 Interest rate swaps 2023 Other Liabilities (3,310) Other Liabilities (7,357) Total derivatives designated as hedging instruments $ 1,101 $ (7,799)
Schedule of offsetting assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of December 31, 2024. The net amounts of derivative liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative liabilities are presented on the Company's Consolidated Balance Sheets Offsetting of Derivative Assets GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF ASSETS GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ 5,264 $ — $ 5,264 $ (5,264) $ — $ — Offsetting of Derivative Liabilities GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF LIABILITIES GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ (4,163) $ — $ (4,163) $ 5,264 $ — $ 1,101
Schedule of offsetting liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of December 31, 2024. The net amounts of derivative liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative liabilities are presented on the Company's Consolidated Balance Sheets Offsetting of Derivative Assets GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF ASSETS GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ 5,264 $ — $ 5,264 $ (5,264) $ — $ — Offsetting of Derivative Liabilities GROSS AMOUNTS GROSS AMOUNTS OFFSET NET AMOUNTS OF LIABILITIES GROSS AMOUNTS NOT OFFSET FINANCIAL INSTRUMENTS CASH NET Derivatives $ (4,163) $ — $ (4,163) $ 5,264 $ — $ 1,101

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of reconciliation of the beginning and ending common stock outstanding	The Company had no preferred shares outstanding and had common shares outstanding for the years ended December 31, 2024, 2023, and 2022 as follows: YEAR ENDED DECEMBER 31, 2024 2023 2022 Balance, beginning of year 380,964,433 380,589,894 150,457,433 Issuance of common stock 8,623 8,627 229,618,304 Conversion of OP units to common stock 194,767 190,544 — Shares repurchased (30,794,250) — — Non-vested share-based awards, net of withheld shares and forfeitures 158,433 175,368 514,157 Balance, end of year 350,532,006 380,964,433 380,589,894
Schedule of reconciliation of beginning and ending balances of accumulated other comprehensive income (loss)	The following table represents the changes in accumulated other comprehensive (loss) income during the years ended December 31, 2024 and 2023: INTEREST RATE SWAPS Dollars in thousands 2024 2023 Beginning balance $ (10,741) $ 2,140 Other comprehensive income (loss) before reclassifications 22,527 1,434 Amounts reclassified from accumulated other comprehensive (loss) income (12,954) (14,315) Net current-period other comprehensive income (loss) 9,573 (12,881) Ending balance $ (1,168) $ (10,741)
Schedule of reclassifications out of accumulated other comprehensive income (loss)	The following table represents the details regarding the reclassifications from accumulated other comprehensive (loss) income during the year ended December 31, 2024 (dollars in thousands): DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE AMOUNT RECLASSIFIED AFFECTED LINE ITEM Amounts reclassified from accumulated other comprehensive income (loss) related to settled interest rate swaps $ 596 Interest Expense Amounts reclassified from accumulated other comprehensive income (loss) related to current interest rate swaps (13,733) Interest Expense $ (13,137)

Stock and Other Incentive Pla_2

Stock and Other Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of unrecognized compensation cost, nonvested awards	The following table represents expected amortization of the Company's non-vested shares issued as of December 31, 2024: Dollars in millions FUTURE AMORTIZATION 2025 $ 8.4 2026 5.5 2027 3.2 2028 1.3 2029 and thereafter 0.4 Total $ 18.8
Schedule of other than stock options, valuation assumptions	Approximately 36% of the RSUs vest based on relative total shareholder return ("TSR") and were valued using independent specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $19.10 for the relative TSR component for the February grants using the following assumptions: Volatility 28.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.44 % Stock price (per share) $15.22 Volatility 29.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.85 % Stock price (per share) $14.23 Volatility 28.0 % Dividend assumption Accrued Expected term 3 years Risk-free rate 4.44 % Stock price (per share) $15.22
Schedule of the activity under the incentive plans the previous directors' plan	The following table represents the summary of non-vested share-based awards (including restricted stock, RSUs, LTIP-C units and LTIP-D units) under the Incentive Plans and related information for the years ended December 31, 2024, 2023, and 2022: YEAR ENDED DECEMBER 31, Dollars in thousands, except per share data 2024 2023 2022 Share-based awards, beginning of year 2,615,562 2,090,060 1,562,028 Granted 1 1,732,484 1,164,359 952,407 Vested (2,284,767) (403,266) (418,949) Change in awards based on performance assessment 2 (47,202) (205,668) — Forfeited (216,340) (29,923) (5,426) Share-based awards, end of year 1,799,737 2,615,562 2,090,060 Weighted-average grant date fair value of Share-based awards, beginning of year $ 25.56 $ 30.35 $ 31.10 Share-based awards granted during the year $ 15.49 $ 18.70 $ 29.64 Share-based awards vested during the year $ 21.43 $ 28.38 $ 31.52 Share-based awards change in performance assessment during the year $ 20.21 $ 29.05 $ — Stock-based awards forfeited during the year $ 16.87 $ 31.16 $ 31.48 Share-based awards, end of year $ 22.30 $ 25.56 $ 30.35 Grant date fair value of shares granted during the year $ 26,844 $ 22,171 $ 28,225 1 LTIP-C units are issued at the maximum possible value of the award and are reflected as such in this table until the performance period has been satisfied and the exact number of awards are determinable. 2 The Company's RSUs that are based on operating performance metrics are evaluated on the probability of those performance metrics being achieved. During 2023, the Company determined that the operating performance goals related to the RSUs issued in 2022 are not probable of being achieved and reversed all of the outstanding amortization expense for that grant. In addition, the Company lowered the probability of achieving the operating performance goals related to the RSUs issued in 2023.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings per Common Share	The table below sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2024, 2023, and 2022. YEAR ENDED DECEMBER 31, Dollars in thousands, except per share data 2024 2023 2022 Weighted average common shares outstanding Weighted average common shares outstanding 367,444,706 380,850,967 254,296,810 Non-vested shares (1,891,650) (1,923,096) (1,940,607) Weighted average common shares outstanding - basic 365,553,056 378,927,871 252,356,203 Weighted average common shares outstanding - basic 365,553,056 378,927,871 252,356,203 Dilutive effect of OP Units — — 1,451,599 Dilutive effect of employee stock purchase plan — — 65,519 Weighted average common shares outstanding - diluted 365,553,056 378,927,871 253,873,321 Net (loss) income $ (663,904) $ (282,083) $ 40,693 Income allocated to participating securities (3,122) (2,504) (2,437) Net loss attributable to non-controlling interest 9,419 3,822 204 Adjustment to loss attributable to non-controlling interest for legally outstanding restricted units (2,798) (851) — Net (loss) income applicable to common stockholders - basic $ (660,405) $ (281,616) $ 38,460 Net income attributable to OP Units — — 81 Net income applicable to common stockholders - diluted $ (660,405) $ (281,616) $ 38,541 Basic earnings per common share - net income $ (1.81) $ (0.74) $ 0.15 Diluted earnings per common share - net income $ (1.81) $ (0.74) $ 0.15

Other Data (Tables)

Other Data (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of characterization of distributions on common stock	For the years ended December 31, 2024, 2023 and 2022, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods. YEAR ENDED DECEMBER 31, 2024 2023 2022 PER SHARE PER SHARE PER SHARE Tax Treatment of Dividends Pre-Merger Healthcare Trust of America Ordinary income 1 $ — $ — $ 0.5862 Return of capital — — 4.0162 Capital gain — — 1.2216 Common stock distributions $ — $ — $ 5.8240 Tax Treatment of Dividends Pre-Merger Healthcare Realty Ordinary income 1 $ — $ — $ 0.2655 Return of capital — — 0.5555 Capital gain — — — Common stock distributions $ — $ — $ 0.8210 Tax Treatment of Dividends Post-Merger Healthcare Realty Ordinary income 1 $ 0.4335 $ 0.5482 $ 0.0422 Return of capital 0.7558 0.5031 0.2889 Capital gain 0.0507 0.1887 0.0879 Common stock distributions $ 1.2400 $ 1.2400 $ 0.4190 1
Schedule of state income taxes	State income tax expense and state income tax payments for the years ended December 31, 2024, 2023 and 2022 are detailed in the table below: YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 State income tax expense Texas gross margins tax $ 1,674 $ 1,206 $ 1,693 Other 126 133 151 Total state income tax expense $ 1,800 $ 1,339 $ 1,844 State income tax payments, net of refunds and collections $ 1,787 $ 1,324 $ 1,834

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of fair value and carrying values for notes and bonds payable, mortgage notes receivable and notes receivable	The table below details the fair value and carrying values for our other financial instruments as of December 31, 2024 and 2023. December 31, 2024 December 31, 2023 Dollars in millions CARRYING VALUE FAIR VALUE CARRYING VALUE FAIR VALUE Notes and bonds payable 1, 2 $ 4,662.8 $ 4,578.4 $ 4,994.9 $ 4,872.7 Real estate notes receivable $ 127.2 $ 122.4 $ 173.6 $ 172.5 1 Level 2 – model-derived valuations in which significant inputs and significant value drivers are observable in active markets. 2 Fair value for senior notes includes accrued interest as of December 31, 2024.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of significant expenses	The table below details the significant expenses for the years ended December 31, 2024, 2023 and 2022. YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 Significant Segment Expenses: Property taxes $ 126,692 $ 137,634 $ 98,101 Personnel 92,935 94,775 79,222 Utilities 97,889 101,840 65,999 Maintenance 110,962 117,969 80,527 Totals $ 428,478 $ 452,218 $ 323,849 The following schedule reconciles net income to segment expenses. YEAR ENDED DECEMBER 31, Dollars in thousands 2024 2023 2022 Revenue $ 1,268,316 $ 1,343,769 $ 932,637 Property taxes (126,692) (137,634) (98,101) Personnel (92,935) (94,775) (79,222) Utilities (97,889) (101,840) (65,999) Maintenance (110,962) (117,969) (80,527) Other segment expenses (128,087) (106,624) (72,923) Transaction costs (3,122) (2,026) (3,229) Merger-related costs — 1,952 (103,380) Depreciation and amortization (675,152) (730,709) (453,082) Gain on sales of real estate properties and other assets 109,753 77,546 270,271 Interest expense (242,425) (258,584) (146,691) (Loss) gain on extinguishment of debt (237) 62 (2,401) Impairment of real estate properties and credit loss reserves (313,547) (154,912) (54,427) Impairment of goodwill (250,530) — — Equity loss from unconsolidated joint ventures (135) (1,682) (687) Interest and other (expense) income, net (260) 1,343 (1,546) Net (loss) income $ (663,904) $ (282,083) $ 40,693

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) shares in Millions, ft² in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024 USD ($) ft² property financing_receivable variable_interest_entity note_receivable state shares	Dec. 31, 2024 USD ($) ft² property financing_receivable variable_interest_entity loan note_receivable state reporting_unit joint_venture shares	Dec. 31, 2023 USD ($) loan financing_receivable	Dec. 31, 2022 USD ($)	Dec. 12, 2024 property	Dec. 31, 2021 USD ($)
Business Overview:
Gross investment, amount, total	$ 11,800,000,000	$ 11,800,000,000
Number of owned real estate properties | property	589	589			3
Number of states that the Company owns real estate in | state	33	33
Approximate square feet invested in by company | ft²	34.2	34.2
Number of properties | property	63	63
Principles of Consolidation:
Equity ownership for consolidation (percent)	100%	100%
Number of entities | variable_interest_entity	3	3
Segment Reporting:
Number of reporting units | reporting_unit		1
Real Estate Properties:
Elimination of real estate lease intangibles against accumulated depreciation		$ 167,700,000	$ 214,800,000	$ 133,600,000
Depreciation		$ 507,100,000	518,600,000	320,800,000
Maximum period up to which interest capitalize on properties in stabilization		1 year
Goodwill and Other Intangible Assets:
Impairment of goodwill		$ 250,500,000
Revenue from Contracts with Customers (Topic 606):
Revenue Received	$ 1,900,000	$ 1,900,000	1,900,000	1,500,000
Federal Income Taxes:
Percentage of distribution of taxable income for qualify as REIT		90%
Unrecognized tax benefits, income tax penalties and interest expense		$ 0	0	0
Redeemable Non-Controlling Interests:
Redeemable non-controlling interests	4,778,000	4,778,000	3,868,000	2,014,000		$ 0
Real Estate Notes Receivable:
Real estate notes receivable, net	$ 127,624,000	$ 127,624,000	$ 173,614,000
Allowance for Credit Losses, Interest Income, Income from Real Estate Notes Receivable:
Number of mezzanine loans | loan		2	2
Credit loss reserves		$ 59,563,000	$ 5,196,000
Number of mortgage loans | loan		1
Number of recognized lease financial receivables | financing_receivable	2	2
Income from financing receivables		$ 8,400,000	$ 8,300,000	8,100,000
Number of real estate notes receivable | financing_receivable	1	1	2
Mezzanine loans
Allowance for Credit Losses, Interest Income, Income from Real Estate Notes Receivable:
Credit loss reserves		$ 46,800,000
Interest income	$ 4,000,000
Mortgage Receivable
Allowance for Credit Losses, Interest Income, Income from Real Estate Notes Receivable:
Credit loss reserves		16,800,000
Accrued interest		500,000
Notes Receivable
Allowance for Credit Losses, Interest Income, Income from Real Estate Notes Receivable:
Interest income		8,000,000	$ 8,800,000	$ 3,400,000
Financing receivable, nonaccrual	$ 14,900,000	$ 14,900,000
Variable Interest Entity
Principles of Consolidation:
Number of entities | variable_interest_entity	5	5
Number of notes receivable | note_receivable	4	4
Number of joint ventures | joint_venture		1
Healthcare Trustof America Holdings L P | Non-Controlling Interest Holders
Principles of Consolidation:
Limited partners capital account outstanding (in units) | shares	4.6	4.6
Limited partners ownership interest (in percent)		1.30%
Property Entities Not Determined to be VIEs
Principles of Consolidation:
Equity interest owned (percent)	100%	100%
Healthcare Trustof America Holdings L P
Principles of Consolidation:
Equity interest owned (percent)	98.70%	98.70%
Interest Rate Swap
Fair Value of Derivative Financial Instruments:
Accumulated other comprehensive income (loss), net of tax	$ (1,200,000)	$ (1,200,000)	(10,700,000)
Level 3
Business Overview:
Number of owned real estate properties | property	9	9
Tenant and Capital Improvements
Real Estate Properties:
Fully depreciated tenant and capital improvements eliminated against accumulated depreciation		$ 3,000,000	0
At-market lease intangibles
Real Estate Properties:
Elimination of real estate lease intangibles against accumulated depreciation		$ 112,300,000	$ 51,700,000
Real Estate Properties Held In Joint Ventures Member
Business Overview:
Weighted average ownership interest (percent)	31%	31%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Total real estate investments, net	$ 9,327,054	$ 11,172,214
Cash and cash equivalents	68,916	25,699
Other assets, net	507,496	592,368
Total assets	10,650,923	12,637,131
Liabilities:
Other liabilities	161,640	202,984
Total liabilities	5,345,049	5,714,349
Variable interest entity
Assets:
Total real estate investments, net	103,933	85,752
Cash and cash equivalents	159	2,144
Other assets, net	4,053	2,704
Total assets	108,145	90,600
Liabilities:
Notes and bonds payable	60,170	0
Accounts payable and accrued liabilities	2,786	17,835
Other liabilities	45	0
Total liabilities	$ 63,001	$ 17,835

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Variable Interest Entity (Details) $ in Thousands	Dec. 31, 2024 USD ($) property	Dec. 12, 2024 property
Variable Interest Entity [Line Items]
Number of owned real estate properties | property	589	3
Houston, TX | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	$ 14,900
MAXIMUM EXPOSURE TO LOSS	14,900
NORTH CAROLINA | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	7,441
MAXIMUM EXPOSURE TO LOSS	7,441
Texas | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Joint venture, carrying amount	56,586
MAXIMUM EXPOSURE TO LOSS	$ 56,586
Number of owned real estate properties | property	7
Texas 1 | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	$ 9,689
MAXIMUM EXPOSURE TO LOSS	16,729
Texas | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable, carrying amount	1
MAXIMUM EXPOSURE TO LOSS	$ 4,500

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Useful Lives of Real Estate Assets and Liabilities (Details)	Dec. 31, 2024
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	2 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	39 years
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	3 years 3 months 18 days
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	49 years
Lease intangibles (including ground lease intangibles) | Minimum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	1 year
Intangible asset useful life	1 year
Lease intangibles (including ground lease intangibles) | Maximum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	99 years
Intangible asset useful life	99 years
Personal property | Minimum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	3 years
Personal property | Maximum
Property, Plant and Equipment [Line Items]
Asset estimated useful life	10 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Other operating	$ 19,157	$ 17,451	$ 13,706
Parking income
Disaggregation of Revenue [Line Items]
Other operating	9,329	9,903	8,513
Management fee income
Disaggregation of Revenue [Line Items]
Other operating	$ 9,828	$ 7,548	$ 5,193

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Components of Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Property operating income	$ 1,202,780	$ 1,270,508	$ 883,953
Straight-line rent	29,996	38,676	23,498
Rental income	$ 1,232,776	$ 1,309,184	$ 907,451

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Schedule of Notes Receivable (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Jun. 24, 2024	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
CARRYING VALUE		$ 123,671	$ 122,602
MAXIMUM LOAN COMMITMENT		182,079
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		141,979
INTEREST RECEIVABLE (OTHER ASSETS)		2,470
ALLOWANCE FOR CREDIT LOSSES		(16,801)	(5,196)		$ 0
FAIR VALUE DISCOUNT AND FEES		(24)
CARRYING VALUE		127,624
Credit loss reserves		59,563	5,196
Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
MAXIMUM LOAN COMMITMENT		10,500
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		6,001
INTEREST RECEIVABLE (OTHER ASSETS)		38
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		6,039
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
MAXIMUM LOAN COMMITMENT		171,579
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		135,978
INTEREST RECEIVABLE (OTHER ASSETS)		2,432
ALLOWANCE FOR CREDIT LOSSES		(16,801)
FAIR VALUE DISCOUNT AND FEES		(24)
CARRYING VALUE		$ 121,585
Poway, CA
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		5.71%
CARRYING VALUE		$ 116,304	115,239
Columbus, OH
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		6.48%
CARRYING VALUE		$ 7,367	$ 7,363
Arizona | Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		9%
MAXIMUM LOAN COMMITMENT		$ 6,000
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		6,000
INTEREST RECEIVABLE (OTHER ASSETS)		38
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		$ 6,038
Texas | Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		11%
MAXIMUM LOAN COMMITMENT		$ 4,500
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		1
INTEREST RECEIVABLE (OTHER ASSETS)		0
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		1		$ 54,100
Sale of real estate property		9,600
Loan fundings		4,500
Allowance for credit loss		$ 46,800
Texas | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		7%
MAXIMUM LOAN COMMITMENT		$ 31,150
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		31,150
INTEREST RECEIVABLE (OTHER ASSETS)		551
ALLOWANCE FOR CREDIT LOSSES		(16,801)
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		$ 14,900
North Carolina | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		8%
MAXIMUM LOAN COMMITMENT		$ 6,000
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		6,000
INTEREST RECEIVABLE (OTHER ASSETS)		1,441
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		$ 7,441
Florida | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		6%
MAXIMUM LOAN COMMITMENT		$ 65,000
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		37,661
INTEREST RECEIVABLE (OTHER ASSETS)		195
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		(24)
CARRYING VALUE		$ 37,832
California | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		6%
MAXIMUM LOAN COMMITMENT		$ 45,000
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		45,000
INTEREST RECEIVABLE (OTHER ASSETS)		185
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		$ 45,185
Florida | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		9%
MAXIMUM LOAN COMMITMENT		$ 7,700
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		6,538
INTEREST RECEIVABLE (OTHER ASSETS)		0
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		$ 6,538
Texas | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
STATED INTEREST RATE		7.50%
MAXIMUM LOAN COMMITMENT		$ 16,729
REAL ESTATE NOTES RECEIVABLE, OUTSTANDING		9,629
INTEREST RECEIVABLE (OTHER ASSETS)		60
ALLOWANCE FOR CREDIT LOSSES		0
FAIR VALUE DISCOUNT AND FEES		0
CARRYING VALUE		9,689
Credit loss reserves		16,800
Allowance for credit loss		16,300
Allowance for credit loss, interest		$ 500
Texas | Mortgage loans | Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal balance of loan	$ 14,900

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Schedule of Company's Allowance For Credit Losses (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Jun. 24, 2024 USD ($) loan	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of period			$ 5,196	$ 0
Credit loss reserves			59,563	5,196
Recoveries			(4,000)	0
Write-off			(43,958)	0
Allowance for credit losses, end of period		$ 16,801	$ 16,801	$ 5,196
Number of mezzanine loans | loan			2	2
Carrying value		127,624	$ 127,624
Mezzanine loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, end of period		0	0
Carrying value		6,039	6,039
TEXAS | Mezzanine loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, end of period		0	0
Number of mezzanine loans | loan	2
Carrying value	$ 54,100	1	1
Allowance for credit loss			$ 46,800
Interest income		$ 4,000

Merger with HTA - Narrative (De

Merger with HTA - Narrative (Details) - USD ($)		12 Months Ended
	Jul. 20, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Dividends per share to common stockholders, declared (in USD per share)		$ 1.24	$ 1.24	$ 1.24
Goodwill	$ 247,043,000	$ 0	$ 250,530,000
Goodwill expected to be tax deductible	0
Merger-related costs		$ 0	(1,952,000)	$ 103,380,000
Refund of transfer taxes paid			$ 17,800,000
Revision of Prior Period, Adjustment
Business Acquisition [Line Items]
Goodwill adjustment incomplete	$ 101,600,000
HealthCare Realty Trust Incorporated | Common Class A
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
HealthCare Realty Trust, Inc.
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	0.01
Healthcare Trust Of America, Inc
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Conversion ratio	1
Dividends per share to common stockholders, declared (in USD per share)	$ 4.82

Merger with HTA - Schedule of C

Merger with HTA - Schedule of Consideration Transferred (Details)		12 Months Ended
	Jul. 20, 2022 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 shares
Business Acquisition [Line Items]
Shares of Legacy HTA Common Stock outstanding as of July 20, 2022 as adjusted (in shares)	228,857,717	350,532,000	380,964,000
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	Dec. 31, 2024	Dec. 31, 2023
Real estate investments
Land	$ 1,004,285
Buildings and improvements	6,841,283
Lease intangible assets	833,759
Financing lease right-of-use assets	13,020
Construction in progress	3,327
Land held for development	46,538
Total real estate investments	8,742,212
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	214,631
Other assets, net	205,323		$ 100
Total assets acquired	11,089,391
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	194,301
Total liabilities assumed	5,649,269
Net identifiable assets acquired	5,440,122		36,500
Non-controlling interest	110,702
Goodwill	247,043	$ 0	$ 250,530
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
CUMULATIVE MEASUREMENT PERIOD ADJUSTMENTS
Land	18,359
Buildings and improvements	(119,135)
Lease intangible assets	1,839
Financing lease right-of-use assets	3,146
Construction in progress	(6,744)
Total real estate investments	(102,535)
Assets held for sale, net	(7,946)
Cash and cash equivalents	11,403
Restricted cash	(1,247)
Operating lease right-of-use assets	16,370
Other assets, net	(3,840)
Total assets acquired	(87,795)
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	(8,909)
Total liabilities assumed	13,844
Net identifiable assets acquired	(101,639)
Goodwill	101,639
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

Property Investments (Details)

Property Investments (Details) $ in Thousands	Dec. 31, 2024 USD ($) property	Dec. 12, 2024 property	Dec. 31, 2023 USD ($)
Summary of Company's investment
NUMBER OF PROPERTIES | property	589	3
LAND	$ 1,143,468
BUILDINGS AND IMPROVEMENTS	9,707,066		$ 10,881,373
LEASE INTANGIBLES	664,867
PERSONAL PROPERTY	9,909		12,718
Total real estate investments	11,810,710		13,399,067
ACCUMULATED DEPRECIATION	$ (2,483,656)		$ (2,226,853)
Investment in financing receivables, net
Summary of Company's investment
NUMBER OF PROPERTIES | property	1
LAND	$ 0
BUILDINGS AND IMPROVEMENTS	0
LEASE INTANGIBLES
PERSONAL PROPERTY	0
Total real estate investments	123,671
ACCUMULATED DEPRECIATION	$ 0
Financing lease right-of-use assets
Summary of Company's investment
NUMBER OF PROPERTIES | property	1
LAND	$ 0
BUILDINGS AND IMPROVEMENTS	0
LEASE INTANGIBLES	0
PERSONAL PROPERTY	0
Total real estate investments	77,343
ACCUMULATED DEPRECIATION	$ 0
Construction in progress
Summary of Company's investment
NUMBER OF PROPERTIES | property	1
LAND	$ 0
BUILDINGS AND IMPROVEMENTS	0
LEASE INTANGIBLES	0
PERSONAL PROPERTY	0
Total real estate investments	31,978
ACCUMULATED DEPRECIATION	$ 0
Land held for development
Summary of Company's investment
NUMBER OF PROPERTIES | property	0
LAND	$ 0
BUILDINGS AND IMPROVEMENTS	0
LEASE INTANGIBLES	0
PERSONAL PROPERTY	0
Total real estate investments	52,408
ACCUMULATED DEPRECIATION	$ 0
Medical office/outpatient
Summary of Company's investment
NUMBER OF PROPERTIES | property	586
LAND	$ 1,143,468
BUILDINGS AND IMPROVEMENTS	9,707,066
LEASE INTANGIBLES	664,867
PERSONAL PROPERTY	9,909
Total real estate investments	11,525,310
ACCUMULATED DEPRECIATION	$ (2,483,656)
Medical office/outpatient | Dallas, TX
Summary of Company's investment
NUMBER OF PROPERTIES | property	39
LAND	$ 73,030
BUILDINGS AND IMPROVEMENTS	864,625
LEASE INTANGIBLES	40,948
PERSONAL PROPERTY	547
Total real estate investments	979,150
ACCUMULATED DEPRECIATION	$ (245,493)
Medical office/outpatient | Seattle, WA
Summary of Company's investment
NUMBER OF PROPERTIES | property	24
LAND	$ 45,272
BUILDINGS AND IMPROVEMENTS	547,743
LEASE INTANGIBLES	5,178
PERSONAL PROPERTY	679
Total real estate investments	598,872
ACCUMULATED DEPRECIATION	$ (184,304)
Medical office/outpatient | Charlotte, NC
Summary of Company's investment
NUMBER OF PROPERTIES | property	31
LAND	$ 32,980
BUILDINGS AND IMPROVEMENTS	462,173
LEASE INTANGIBLES	25,947
PERSONAL PROPERTY	133
Total real estate investments	521,233
ACCUMULATED DEPRECIATION	$ (134,075)
Medical office/outpatient | Houston, TX
Summary of Company's investment
NUMBER OF PROPERTIES | property	26
LAND	$ 61,201
BUILDINGS AND IMPROVEMENTS	510,255
LEASE INTANGIBLES	46,286
PERSONAL PROPERTY	46
Total real estate investments	617,788
ACCUMULATED DEPRECIATION	$ (106,416)
Medical office/outpatient | Denver, CO
Summary of Company's investment
NUMBER OF PROPERTIES | property	26
LAND	$ 55,309
BUILDINGS AND IMPROVEMENTS	390,453
LEASE INTANGIBLES	32,602
PERSONAL PROPERTY	605
Total real estate investments	478,969
ACCUMULATED DEPRECIATION	$ (106,457)
Medical office/outpatient | Atlanta, GA
Summary of Company's investment
NUMBER OF PROPERTIES | property	24
LAND	$ 39,895
BUILDINGS AND IMPROVEMENTS	365,592
LEASE INTANGIBLES	20,769
PERSONAL PROPERTY	102
Total real estate investments	426,358
ACCUMULATED DEPRECIATION	$ (86,861)
Medical office/outpatient | Boston, MA
Summary of Company's investment
NUMBER OF PROPERTIES | property	16
LAND	$ 120,818
BUILDINGS AND IMPROVEMENTS	279,881
LEASE INTANGIBLES	39,509
PERSONAL PROPERTY	14
Total real estate investments	440,222
ACCUMULATED DEPRECIATION	$ (60,469)
Medical office/outpatient | Los Angeles, CA
Summary of Company's investment
NUMBER OF PROPERTIES | property	15
LAND	$ 49,770
BUILDINGS AND IMPROVEMENTS	265,617
LEASE INTANGIBLES	3,486
PERSONAL PROPERTY	401
Total real estate investments	319,274
ACCUMULATED DEPRECIATION	$ (131,477)
Medical office/outpatient | Phoenix, AZ
Summary of Company's investment
NUMBER OF PROPERTIES | property	35
LAND	$ 29,177
BUILDINGS AND IMPROVEMENTS	492,016
LEASE INTANGIBLES	31,915
PERSONAL PROPERTY	427
Total real estate investments	553,535
ACCUMULATED DEPRECIATION	$ (84,116)
Medical office/outpatient | Raleigh, NC
Summary of Company's investment
NUMBER OF PROPERTIES | property	25
LAND	$ 57,906
BUILDINGS AND IMPROVEMENTS	366,150
LEASE INTANGIBLES	29,224
PERSONAL PROPERTY	13
Total real estate investments	453,293
ACCUMULATED DEPRECIATION	$ (55,468)
Medical office/outpatient | Nashville, TN
Summary of Company's investment
NUMBER OF PROPERTIES | property	11
LAND	$ 38,057
BUILDINGS AND IMPROVEMENTS	339,417
LEASE INTANGIBLES	9,840
PERSONAL PROPERTY	4,422
Total real estate investments	391,736
ACCUMULATED DEPRECIATION	$ (128,686)
Medical office/outpatient | Miami, FL
Summary of Company's investment
NUMBER OF PROPERTIES | property	14
LAND	$ 22,890
BUILDINGS AND IMPROVEMENTS	265,974
LEASE INTANGIBLES	17,785
PERSONAL PROPERTY	176
Total real estate investments	306,825
ACCUMULATED DEPRECIATION	$ (75,640)
Medical office/outpatient | Tampa, FL
Summary of Company's investment
NUMBER OF PROPERTIES | property	18
LAND	$ 30,586
BUILDINGS AND IMPROVEMENTS	313,381
LEASE INTANGIBLES	26,109
PERSONAL PROPERTY	33
Total real estate investments	370,109
ACCUMULATED DEPRECIATION	$ (53,946)
Medical office/outpatient | Indianapolis, IN
Summary of Company's investment
NUMBER OF PROPERTIES | property	39
LAND	$ 50,874
BUILDINGS AND IMPROVEMENTS	274,524
LEASE INTANGIBLES	23,329
PERSONAL PROPERTY	13
Total real estate investments	348,740
ACCUMULATED DEPRECIATION	$ (50,188)
Medical office/outpatient | New York, NY
Summary of Company's investment
NUMBER OF PROPERTIES | property	14
LAND	$ 63,377
BUILDINGS AND IMPROVEMENTS	163,038
LEASE INTANGIBLES	25,963
PERSONAL PROPERTY	0
Total real estate investments	252,378
ACCUMULATED DEPRECIATION	$ (26,533)
Medical office/outpatient | Austin, TX
Summary of Company's investment
NUMBER OF PROPERTIES | property	11
LAND	$ 21,601
BUILDINGS AND IMPROVEMENTS	217,862
LEASE INTANGIBLES	18,568
PERSONAL PROPERTY	37
Total real estate investments	258,068
ACCUMULATED DEPRECIATION	$ (46,372)
Medical office/outpatient | Washington, DC
Summary of Company's investment
NUMBER OF PROPERTIES | property	9
LAND	$ 5,265
BUILDINGS AND IMPROVEMENTS	220,493
LEASE INTANGIBLES	3,799
PERSONAL PROPERTY	48
Total real estate investments	229,605
ACCUMULATED DEPRECIATION	$ (59,598)
Medical office/outpatient | Chicago, IL
Summary of Company's investment
NUMBER OF PROPERTIES | property	6
LAND	$ 13,804
BUILDINGS AND IMPROVEMENTS	217,359
LEASE INTANGIBLES	7,626
PERSONAL PROPERTY	81
Total real estate investments	238,870
ACCUMULATED DEPRECIATION	$ (45,205)
Medical office/outpatient | San Francisco, CA
Summary of Company's investment
NUMBER OF PROPERTIES | property	6
LAND	$ 49,181
BUILDINGS AND IMPROVEMENTS	181,860
LEASE INTANGIBLES	9,915
PERSONAL PROPERTY	52
Total real estate investments	241,008
ACCUMULATED DEPRECIATION	$ (59,302)
Medical office/outpatient | Orlando, FL
Summary of Company's investment
NUMBER OF PROPERTIES | property	7
LAND	$ 9,793
BUILDINGS AND IMPROVEMENTS	170,755
LEASE INTANGIBLES	16,815
PERSONAL PROPERTY	1
Total real estate investments	197,364
ACCUMULATED DEPRECIATION	$ (29,866)
Medical office/outpatient | Other (45 markets)
Summary of Company's investment
NUMBER OF PROPERTIES | property	190
LAND	$ 272,682
BUILDINGS AND IMPROVEMENTS	2,797,898
LEASE INTANGIBLES	229,254
PERSONAL PROPERTY	2,079
Total real estate investments	3,301,913
ACCUMULATED DEPRECIATION	$ (713,184)

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) renewal_option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Leases [Abstract]
Rental income	$ 1,232,776	$ 1,309,184	$ 907,451
Approximate investment	$ 111,100
Number of exercisable purchase options | renewal_option	6

Leases - Non-cancelable Operati

Leases - Non-cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 816,029
2026	744,399
2027	634,752
2028	522,433
2029	418,455
2030 and thereafter	1,544,358
Lease payments receivable	$ 4,680,426

Leases - Ground Leases (Details

Leases - Ground Leases (Details) ft² in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) ft² lease property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Real Estate [Line Items]
Number of properties subject to ground leases | property	215
Square feet subject to ground leases | ft²	16.1
Number of ground leases prepaid	73
Amortization of prepaid rent | $	$ 1.4	$ 1.3	$ 1.1
Number of ground leases, excluding prepaid leases	142
Minimum
Real Estate [Line Items]
Ground leases, initial term	40 years
Maximum
Real Estate [Line Items]
Ground leases, initial term	99 years

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
OPERATING
2025	$ 12,410
2026	12,540
2027	12,743
2028	12,879
2029	12,944
2030 and thereafter	657,744
Total undiscounted lease payments	721,260
Discount	(496,761)
Lease liabilities	224,499	$ 229,714
FINANCING
2025	2,070
2026	2,106
2027	2,145
2028	2,177
2029	2,209
2030 and thereafter	383,172
Total undiscounted lease payments	393,879
Discount	(321,533)
Lease liabilities	$ 72,346	$ 74,503

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating lease cost
Operating lease expense	$ 18,076	$ 20,623
Variable lease expense	4,939	8,979
Finance lease cost
Amortization of right-of-use assets	1,533	1,564
Interest on lease liabilities	3,727	3,718
Total lease expense	28,275	34,884
Other information
Operating cash flows outflows related to operating leases	15,545	19,222
Operating cash flows outflows related to financing leases	2,107	2,122
Financing cash flows outflows related to financing leases	17	17	$ 0
ROU asset obtained in exchange for new operating lease liability	$ 3,855	$ 1,758
Weighted-average remaining lease term (excluding renewal options) - operating leases	44 years 1 month 6 days	45 years 9 months 18 days
Weighted-average remaining lease term (excluding renewal options) - finance leases	57 years 9 months 18 days	57 years 10 months 24 days
Weighted-average discount rate - operating leases	5.70%	5.70%
Weighted-average discount rate - finance leases	5%	5%

Acquisitions, Dispositions an_3

Acquisitions, Dispositions and Mortgage Repayments - Narrative (Details) - property	Dec. 31, 2024	Dec. 12, 2024
Real Estate Acquisitions and Mortgage Note Financing [Line Items]
Number of properties held in unconsolidated joint ventures	63
Number of owned real estate properties	589	3
Real Estate Properties Held In Joint Ventures Member
Real Estate Acquisitions and Mortgage Note Financing [Line Items]
Weighted average ownership interest (percent)	31%

Acquisitions, Dispositions an_4

Acquisitions, Dispositions and Mortgage Repayments - Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period	$ 311,511
Equity loss recognized during the period	(135)	$ (1,682)	$ (687)
Investments in unconsolidated joint ventures, end of period	473,122	311,511
Parking Garages
Equity Method Investments [Roll Forward]
Investments in unconsolidated joint ventures, beginning of period	311,511	327,248
New investments during the period	172,244	3,824
Equity loss recognized during the period	(135)	(1,682)
Owner distributions	(10,498)	(17,879)
Investments in unconsolidated joint ventures, end of period	$ 473,122	$ 311,511	$ 327,248

Acquisitions, Dispositions an_5

Acquisitions, Dispositions and Mortgage Repayments - Real Estate Acquisitions (Details) $ in Thousands			12 Months Ended
	Jul. 28, 2023 USD ($) ft²	Mar. 10, 2023 USD ($) ft²	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
PURCHASE PRICE			$ 5,576,463
MORTGAGE NOTES PAYABLE, NET				$ (5,300)
Total real estate acquisitions
Business Acquisition [Line Items]
PURCHASE PRICE			42,950
MORTGAGE NOTES PAYABLE, NET			(5,284)
CASH CONSIDERATION			36,523
REAL ESTATE			42,012
OTHER			$ (205)
SQUARE FOOTAGE | ft²			158,637
Tampa, FL | Medical Office Building
Business Acquisition [Line Items]
PURCHASE PRICE		$ 31,500
MORTGAGE NOTES PAYABLE, NET		0
CASH CONSIDERATION		30,499
REAL ESTATE		30,596
OTHER		$ (97)
SQUARE FOOTAGE | ft²		115,867
Colorado Springs, CO | Medical Office Building
Business Acquisition [Line Items]
PURCHASE PRICE	$ 11,450
MORTGAGE NOTES PAYABLE, NET	(5,284)
CASH CONSIDERATION	6,024
REAL ESTATE	11,416
OTHER	$ (108)
SQUARE FOOTAGE | ft²	42,770

Acquisitions, Dispositions an_6

Acquisitions, Dispositions and Mortgage Repayments - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jul. 20, 2022
Business Acquisition [Line Items]
Building		$ 6,841,283
Land		1,004,285
Below-market lease intangibles (lessor)	$ (200)
Mortgage notes payable assumed, including fair value adjustments	(5,300)
Other assets acquired	100	205,323
Accounts payable, accrued liabilities and other liabilities assumed	(300)
Total cash paid	36,500	$ 5,440,122
At-market lease intangibles
Business Acquisition [Line Items]
Intangibles	4,500
Above-market lease intangibles (lessor)
Business Acquisition [Line Items]
Intangibles	200
Building
Business Acquisition [Line Items]
Building	27,500
Tenant Improvements
Business Acquisition [Line Items]
Tenant Improvements	3,400
Land
Business Acquisition [Line Items]
Land	5,500
Land Improvements
Business Acquisition [Line Items]
Land Improvements	$ 1,100
Minimum | At-market lease intangibles
Business Acquisition [Line Items]
Intangible asset useful life	5 years 1 month 6 days
Minimum | Above-market lease intangibles (lessor)
Business Acquisition [Line Items]
Intangible asset useful life	1 year 9 months 18 days
Minimum | Below-market lease intangibles (lessor)
Business Acquisition [Line Items]
Intangible liability useful life	6 years 4 months 24 days
Minimum | Building
Business Acquisition [Line Items]
Asset estimated useful life	17 years
Minimum | Tenant Improvements
Business Acquisition [Line Items]
Asset estimated useful life	5 years 1 month 6 days
Minimum | Land Improvements
Business Acquisition [Line Items]
Asset estimated useful life	6 years
Maximum | At-market lease intangibles
Business Acquisition [Line Items]
Intangible asset useful life	5 years 10 months 24 days
Maximum | Above-market lease intangibles (lessor)
Business Acquisition [Line Items]
Intangible asset useful life	4 years 10 months 24 days
Maximum | Below-market lease intangibles (lessor)
Business Acquisition [Line Items]
Intangible liability useful life	13 years 10 months 24 days
Maximum | Building
Business Acquisition [Line Items]
Asset estimated useful life	30 years
Maximum | Tenant Improvements
Business Acquisition [Line Items]
Asset estimated useful life	5 years 10 months 24 days
Maximum | Land Improvements
Business Acquisition [Line Items]
Asset estimated useful life	10 years

Acquisitions, Dispositions an_7

Acquisitions, Dispositions and Mortgage Repayments - Dispositions (Details) $ in Thousands																																															12 Months Ended
	Dec. 27, 2024 USD ($) ft²	Dec. 20, 2024 USD ($) ft²	Dec. 18, 2024 USD ($) ft²	Dec. 12, 2024 USD ($) ft² property	Dec. 10, 2024 USD ($) ft²	Oct. 25, 2024 USD ($) ft² property	Oct. 24, 2024 USD ($) ft²	Oct. 15, 2024 USD ($) ft²	Oct. 09, 2024 USD ($) ft²	Oct. 03, 2024 USD ($) ft²	Sep. 26, 2024 USD ($) ft²	Sep. 13, 2024 USD ($) ft²	Aug. 27, 2024 USD ($) ft² property	Aug. 23, 2024 USD ($) ft²	Aug. 13, 2024 USD ($) ft²	Aug. 06, 2024 USD ($) ft²	Aug. 02, 2024 USD ($) ft²	Jun. 28, 2024 USD ($) ft²	Jun. 21, 2024 USD ($) ft²	Jun. 06, 2024 USD ($) ft²	May 30, 2024 USD ($) ft²	May 23, 2024 USD ($) ft²	May 20, 2024 USD ($) ft²	Dec. 29, 2023 USD ($) ft² disposition_transaction property	Dec. 28, 2023 USD ($) ft²	Dec. 27, 2023 USD ($) ft²	Dec. 22, 2023 USD ($) ft² disposition_transaction property	Dec. 21, 2023 USD ($) ft²	Dec. 20, 2023 USD ($) ft²	Dec. 15, 2023 USD ($) ft²	Dec. 01, 2023 USD ($) ft²	Nov. 13, 2023 USD ($) ft² property disposition_transaction	Sep. 27, 2023 USD ($) ft²	Sep. 18, 2023 USD ($) ft²	Sep. 15, 2023 USD ($) ft²	Aug. 22, 2023 USD ($) ft²	Aug. 02, 2023 USD ($) ft²	Jun. 30, 2023 USD ($) ft²	May 12, 2023 USD ($) a ft²	Mar. 30, 2023 USD ($) ft²	Mar. 23, 2023 USD ($) ft²	Feb. 10, 2023 USD ($) ft²	Jan. 30, 2023 USD ($) ft²	Jan. 12, 2023 USD ($) ft² disposition_transaction property	Apr. 12, 2021 USD ($) ft²	Apr. 01, 2021 USD ($) ft²	Dec. 31, 2024 USD ($) ft² property	Dec. 31, 2023 USD ($) ft²
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property				3																																											589
Corporate Joint Venture
Real Estate Dispositions [Line Items]
NET CONSIDERATION										$ 9,600			$ 148,900									$ 584,900
Joint venture, ownership (in percentage)													20%																																		20%
Albany, NY
Real Estate Dispositions [Line Items]
SALE PRICE								$ 9,500									$ 6,300																					$ 10,000								$ 725
CLOSING COSTS & CREDITS								(521)									(847)																					(1,229)								(60)
COMPANY-FINANCED NOTES								0									0																					0								0
NET CONSIDERATION								8,979									5,453																					8,771								665
NET REAL ESTATE INVESTMENT								7,823									5,528																					2,613								765
OTHER								1,193									486																					(1,040)								(82)
GAIN/(IMPAIR-MENT)								$ (37)									$ (561)																					$ 7,198								$ (18)
SQUARE FOOTAGE | ft²								80,676									180,000																					40,870								14,800
San Angelo, TX
Real Estate Dispositions [Line Items]
SALE PRICE																																													$ 5,085
CLOSING COSTS & CREDITS																																													(128)
COMPANY-FINANCED NOTES																																													0
NET CONSIDERATION																																													4,957
NET REAL ESTATE INVESTMENT																																													4,917
OTHER																																													66
GAIN/(IMPAIR-MENT)																																													$ (26)
SQUARE FOOTAGE | ft²																																													24,580
Houston, TX
Real Estate Dispositions [Line Items]
SALE PRICE										12,000													$ 250								$ 4,100			$ 250			$ 8,320
CLOSING COSTS & CREDITS										(1,001)													(9)								(6)			(24)			(285)
COMPANY-FINANCED NOTES										(9,630)													0								0			0			0
NET CONSIDERATION										1,369													241								4,094			226			8,035
NET REAL ESTATE INVESTMENT										11,266													713								3,486			1,998			4,567
OTHER										295													(520)								0			0			194
GAIN/(IMPAIR-MENT)										$ (563)													$ 48								$ 608			$ (1,772)			$ 3,274
SQUARE FOOTAGE | ft²										140,012													37,040								83,223			52,040			57,170
Multiple
Real Estate Dispositions [Line Items]
SALE PRICE			$ 310,250										$ 177,250	$ 118,000								284,348
CLOSING COSTS & CREDITS			(6,767)										(7,085)	(8,615)								(14,270)
COMPANY-FINANCED NOTES			0										0	0								0
NET CONSIDERATION			303,483										170,165	109,385								270,078
NET REAL ESTATE INVESTMENT			321,437										169,545	113,956								254,176
OTHER			6,616										5,363	548								25,836
GAIN/(IMPAIR-MENT)			$ (24,570)										$ (4,743)	$ (5,119)								$ (9,934)
SQUARE FOOTAGE | ft²			766,622										473,003	266,782								556,274
Denver, CO
Real Estate Dispositions [Line Items]
SALE PRICE																					$ 19,000
CLOSING COSTS & CREDITS																					(628)
COMPANY-FINANCED NOTES																					0
NET CONSIDERATION																					18,372
NET REAL ESTATE INVESTMENT																					18,522
OTHER																					165
GAIN/(IMPAIR-MENT)																					$ (315)
SQUARE FOOTAGE | ft²																					37,130
Denver, CO | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property													2																																		1
Austin, TX
Real Estate Dispositions [Line Items]
SALE PRICE												$ 42,281								$ 54,858
CLOSING COSTS & CREDITS												(1,257)								(1,575)
COMPANY-FINANCED NOTES												0								0
NET CONSIDERATION												41,024								53,283
NET REAL ESTATE INVESTMENT												14,561								27,964
OTHER												425								623
GAIN/(IMPAIR-MENT)												$ 26,038								$ 24,696
SQUARE FOOTAGE | ft²												76,246								129,879
Austin, TX | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Minneapolis, MN
Real Estate Dispositions [Line Items]
SALE PRICE																			$ 1,082
CLOSING COSTS & CREDITS																			(144)
COMPANY-FINANCED NOTES																			0
NET CONSIDERATION																			938
NET REAL ESTATE INVESTMENT																			303
OTHER																			43
GAIN/(IMPAIR-MENT)																			$ 592
SQUARE FOOTAGE | ft²																			50,291
Raleigh, NC
Real Estate Dispositions [Line Items]
SALE PRICE																		$ 99,518
CLOSING COSTS & CREDITS																		(2,835)
COMPANY-FINANCED NOTES																		0
NET CONSIDERATION																		96,683
NET REAL ESTATE INVESTMENT																		86,810
OTHER																		906
GAIN/(IMPAIR-MENT)																		$ 8,967
SQUARE FOOTAGE | ft²																		309,424
Charlotte, NC
Real Estate Dispositions [Line Items]
SALE PRICE																$ 26,670
CLOSING COSTS & CREDITS																(395)
COMPANY-FINANCED NOTES																0
NET CONSIDERATION																26,275
NET REAL ESTATE INVESTMENT																14,853
OTHER																613
GAIN/(IMPAIR-MENT)																$ 10,809
SQUARE FOOTAGE | ft²																90,633
Charleston, SC
Real Estate Dispositions [Line Items]
SALE PRICE															$ 14,500															$ 6,200
CLOSING COSTS & CREDITS															(589)															(401)
COMPANY-FINANCED NOTES															0															0
NET CONSIDERATION															13,911															5,799
NET REAL ESTATE INVESTMENT															11,488															3,415
OTHER															1															0
GAIN/(IMPAIR-MENT)															$ 2,422															$ 2,384
SQUARE FOOTAGE | ft²															46,711															15,014
Joint venture, ownership (in percentage)																														100%
Raleigh, NC
Real Estate Dispositions [Line Items]
SALE PRICE											$ 1,813
CLOSING COSTS & CREDITS											(27)
COMPANY-FINANCED NOTES											0
NET CONSIDERATION											1,786
NET REAL ESTATE INVESTMENT											1,694
OTHER											50
GAIN/(IMPAIR-MENT)											$ 42
SQUARE FOOTAGE | ft²											5,934
Raleigh, NC | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Greensboro, NC
Real Estate Dispositions [Line Items]
SALE PRICE									$ 12,514
CLOSING COSTS & CREDITS									(21)
COMPANY-FINANCED NOTES									0
NET CONSIDERATION									12,493
NET REAL ESTATE INVESTMENT									10,152
OTHER									296
GAIN/(IMPAIR-MENT)									$ 2,045
SQUARE FOOTAGE | ft²									35,373
Des Moines, IA
Real Estate Dispositions [Line Items]
SALE PRICE								$ 31,750
CLOSING COSTS & CREDITS								(1,320)
COMPANY-FINANCED NOTES								0
NET CONSIDERATION								30,430
NET REAL ESTATE INVESTMENT								13,869
OTHER								1,662
GAIN/(IMPAIR-MENT)								$ 14,899
SQUARE FOOTAGE | ft²								95,486
Salt Lake City, UT
Real Estate Dispositions [Line Items]
SALE PRICE							$ 30,712
CLOSING COSTS & CREDITS							(8,962)
COMPANY-FINANCED NOTES							0
NET CONSIDERATION							21,750
NET REAL ESTATE INVESTMENT							26,899
OTHER							(9,406)
GAIN/(IMPAIR-MENT)							$ 4,257
SQUARE FOOTAGE | ft²							112,192
Joint venture, ownership (in percentage)							63%
Miami, FL
Real Estate Dispositions [Line Items]
SALE PRICE						$ 36,789																					$ 18,250
CLOSING COSTS & CREDITS						(706)																					(756)
COMPANY-FINANCED NOTES						0																					0
NET CONSIDERATION						36,083																					17,494
NET REAL ESTATE INVESTMENT						35,925																					17,354
OTHER						(209)																					643
GAIN/(IMPAIR-MENT)						$ 367																					$ (503)
SQUARE FOOTAGE | ft²						102,186																					48,000
Miami, FL | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Miami, FL 2
Real Estate Dispositions [Line Items]
SALE PRICE						$ 17,767
CLOSING COSTS & CREDITS						(718)
COMPANY-FINANCED NOTES						0
NET CONSIDERATION						17,049
NET REAL ESTATE INVESTMENT						14,650
OTHER						(210)
GAIN/(IMPAIR-MENT)						$ 2,609
SQUARE FOOTAGE | ft²						60,761
Number of owned real estate properties | property						2
Cleveland, OH
Real Estate Dispositions [Line Items]
SALE PRICE					$ 1,000
CLOSING COSTS & CREDITS					(157)
COMPANY-FINANCED NOTES					0
NET CONSIDERATION					843
NET REAL ESTATE INVESTMENT					1,454
OTHER					57
GAIN/(IMPAIR-MENT)					$ (668)
SQUARE FOOTAGE | ft²					31,152
Boise, ID
Real Estate Dispositions [Line Items]
SALE PRICE				$ 18,350
CLOSING COSTS & CREDITS				(2,003)
COMPANY-FINANCED NOTES				0
NET CONSIDERATION				16,347
NET REAL ESTATE INVESTMENT				17,562
OTHER				345
GAIN/(IMPAIR-MENT)				$ (1,560)
SQUARE FOOTAGE | ft²				83,078
Atlanta, GA
Real Estate Dispositions [Line Items]
SALE PRICE		$ 15,900																																		$ 25,140
CLOSING COSTS & CREDITS		(1,318)																																		(66)
COMPANY-FINANCED NOTES		0																																		0
NET CONSIDERATION		14,582																																		25,074
NET REAL ESTATE INVESTMENT		13,344																																		23,226
OTHER		635																																		(536)
GAIN/(IMPAIR-MENT)		$ 603																																		$ 2,386
SQUARE FOOTAGE | ft²		42,921																																		55,195
Atlanta, GA | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property													1																																		1
Los Angeles, CA
Real Estate Dispositions [Line Items]
SALE PRICE		$ 64,000																										$ 19,000											$ 3,300	$ 75,000	$ 21,000
CLOSING COSTS & CREDITS		(4,805)																										(1,311)											(334)	(8,079)	(526)
COMPANY-FINANCED NOTES		0																										0											0	(45,000)	0
NET CONSIDERATION		59,195																										17,689											2,966	21,921	20,474
NET REAL ESTATE INVESTMENT		47,322																										17,787											3,268	88,624	20,610
OTHER		1,676																										0											0	(803)	52
GAIN/(IMPAIR-MENT)		$ 10,197																										$ (98)											$ (302)	$ (20,900)	$ (188)
SQUARE FOOTAGE | ft²		162,554																										104,377											0	147,078	37,165
Mortgage Note																																								$ 45,000
Area of land | a																																							0.34
Tampa, FL
Real Estate Dispositions [Line Items]
SALE PRICE	$ 37,500
CLOSING COSTS & CREDITS	(402)
COMPANY-FINANCED NOTES	0
NET CONSIDERATION	37,098
NET REAL ESTATE INVESTMENT	41,556
OTHER	(1,962)
GAIN/(IMPAIR-MENT)	$ (2,496)
SQUARE FOOTAGE | ft²	95,896
Wichita Falls, TX
Real Estate Dispositions [Line Items]
SALE PRICE	$ 600
CLOSING COSTS & CREDITS	(130)
COMPANY-FINANCED NOTES	0
NET CONSIDERATION	470
NET REAL ESTATE INVESTMENT	2,530
OTHER	14
GAIN/(IMPAIR-MENT)	$ (2,074)
SQUARE FOOTAGE | ft²	25,133
Tampa FL & Miami FL
Real Estate Dispositions [Line Items]
SALE PRICE																																												$ 93,250
CLOSING COSTS & CREDITS																																												(5,875)
COMPANY-FINANCED NOTES																																												0
NET CONSIDERATION																																												87,375
NET REAL ESTATE INVESTMENT																																												87,302
OTHER																																												(888)
GAIN/(IMPAIR-MENT)																																												$ 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																													$ 43,295						$ 115,000								$ 19,210
CLOSING COSTS & CREDITS																													(764)						(1,504)								(141)
COMPANY-FINANCED NOTES																													0						0								0
NET CONSIDERATION																													42,531						113,496								19,069
NET REAL ESTATE INVESTMENT																													33,882						64,183								18,986
OTHER																													(3,782)						6,094								43
GAIN/(IMPAIR-MENT)																													$ 12,431						$ 43,219								$ 40
SQUARE FOOTAGE | ft²																													77,827						161,264								36,691
Joint venture, ownership (in percentage)																																											40%
Dallas, TX | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property													1
St. Louis, MO
Real Estate Dispositions [Line Items]
SALE PRICE																																										$ 350
CLOSING COSTS & CREDITS																																										(18)
COMPANY-FINANCED NOTES																																										0
NET CONSIDERATION																																										332
NET REAL ESTATE INVESTMENT																																										398
OTHER																																										0
GAIN/(IMPAIR-MENT)																																										$ (66)
SQUARE FOOTAGE | ft²																																										6,500
Chicago, IL
Real Estate Dispositions [Line Items]
SALE PRICE																																	$ 59,950
CLOSING COSTS & CREDITS																																	(870)
COMPANY-FINANCED NOTES																																	0
NET CONSIDERATION																																	59,080
NET REAL ESTATE INVESTMENT																																	74,710
OTHER																																	(380)
GAIN/(IMPAIR-MENT)																																	$ (15,250)
SQUARE FOOTAGE | ft²																																	104,912
Evansville, IN
Real Estate Dispositions [Line Items]
SALE PRICE																																$ 18,500
CLOSING COSTS & CREDITS																																(63)
COMPANY-FINANCED NOTES																																0
NET CONSIDERATION																																18,437
NET REAL ESTATE INVESTMENT																																17,807
OTHER																																(149)
GAIN/(IMPAIR-MENT)																																$ 779
SQUARE FOOTAGE | ft²																																260,520
Number of owned real estate properties | property																																5
Number of property dispositions | disposition_transaction																																3
Tucson, AZ
Real Estate Dispositions [Line Items]
SALE PRICE																											$ 43,230
CLOSING COSTS & CREDITS																											(3,770)
COMPANY-FINANCED NOTES																											(6,000)
NET CONSIDERATION																											33,460
NET REAL ESTATE INVESTMENT																											39,786
OTHER																											(26)
GAIN/(IMPAIR-MENT)																											$ (300)
SQUARE FOOTAGE | ft²																											215,471
Number of owned real estate properties | property																											12
Number of property dispositions | disposition_transaction																											1
Mortgage Note																											$ 6,000
Sebring, FL
Real Estate Dispositions [Line Items]
SALE PRICE																										$ 9,500
CLOSING COSTS & CREDITS																										(81)
COMPANY-FINANCED NOTES																										0
NET CONSIDERATION																										9,419
NET REAL ESTATE INVESTMENT																										10,438
OTHER																										(512)
GAIN/(IMPAIR-MENT)																										$ (507)
SQUARE FOOTAGE | ft²																										38,949
Boston, MA
Real Estate Dispositions [Line Items]
SALE PRICE																									$ 117,197
CLOSING COSTS & CREDITS																									(2,079)
COMPANY-FINANCED NOTES																									0
NET CONSIDERATION																									115,118
NET REAL ESTATE INVESTMENT																									107,803
OTHER																									9,828
GAIN/(IMPAIR-MENT)																									$ (2,513)
SQUARE FOOTAGE | ft²																									161,254
Jacksonville/Orlando/Miami, FL
Real Estate Dispositions [Line Items]
SALE PRICE																								$ 77,000
CLOSING COSTS & CREDITS																								(8,678)
COMPANY-FINANCED NOTES																								(7,700)
NET CONSIDERATION																								60,622
NET REAL ESTATE INVESTMENT																								65,839
OTHER																								(294)
GAIN/(IMPAIR-MENT)																								$ 2,777
SQUARE FOOTAGE | ft²																								354,500
Number of owned real estate properties | property																								3
Number of property dispositions | disposition_transaction																								1
Mortgage Note																								$ 7,700
New York, NY | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Philapelphia, PA | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Memphis, TN | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Indianapolis, IN | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Honolulu, HI | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															1
Nashville, TN | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property													2
San Antonio, TX | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property													1
Medical Office Building | Houston, TX | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															3
Medical Office Building | Los Angeles, CA | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															2
Medical Office Building | Dallas, TX | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															3
Medical Office Building | Seattle, WA | Corporate Joint Venture
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															5
Real Estate Dispositions
Real Estate Dispositions [Line Items]
SALE PRICE																																															$ 1,450,312	$ 787,042
CLOSING COSTS & CREDITS																																															(67,295)	(36,860)
COMPANY-FINANCED NOTES																																															(9,630)	(58,700)
NET CONSIDERATION																																															1,373,387	691,482
NET REAL ESTATE INVESTMENT																																															1,291,584	708,082
OTHER																																															35,525	8,444
GAIN/(IMPAIR-MENT)																																															$ 55,907	$ 33,658
SQUARE FOOTAGE | ft²																																															4,132,769	2,282,057
Real Estate Dispositions | Medical Office Building | Raleigh, NC
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															2
Real Estate Dispositions | Medical Office Building | Greensboro, NC
Real Estate Dispositions [Line Items]
Number of owned real estate properties | property																																															7

Held for Sale - Narrative (Deta

Held for Sale - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Feb. 14, 2025 USD ($) ft² property	Feb. 07, 2025 USD ($) ft²	Dec. 28, 2023 USD ($) ft²
Discontinued Operations and Disposal Groups [Abstract]
Number of properties classified as held for sale | property	3	1
Impairment charges on net real estate assets held for sale | $	$ 24,100	$ 5,900
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property	3	1
Boston, MA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of building sold | ft²					161,254
Sales price | $					$ 117,197
Boston, MA | Discontinued Operations, Held-for-Sale or Disposed of by Sale | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of building sold | ft²				30,304
Sales price | $				$ 4,500
Colorado Springs, CO | Discontinued Operations, Held-for-Sale or Disposed of by Sale | Subsequent Event
Discontinued Operations and Disposal Groups [Abstract]
Number of properties classified as held for sale | property			2
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of building sold | ft²			69,715
Sales price | $			$ 8,600
Number of properties classified as held for sale | property			2

Held for - Sale Assets Held for

Held for - Sale Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Balance Sheet data
Land	$ 1,143,468	$ 1,343,265
Buildings and improvements	9,707,066	10,881,373
Total real estate investments	11,810,710	13,399,067
Less accumulated depreciation	(2,483,656)	(2,226,853)
Total real estate investments, net	9,327,054	11,172,214
Assets held for sale, net	12,897	8,834
Liabilities of properties held for sale	1,283	295
Disposal Group, Held-for-sale, Not Discontinued Operations
Balance Sheet data
Land	10,859	1,850
Buildings and improvements	3,410	6,779
Lease intangibles	3,286	1,017
Total real estate investments	17,555	9,646
Less accumulated depreciation	(5,275)	(913)
Total real estate investments, net	12,280	8,733
Other assets, net	617	101
Assets held for sale, net	12,897	8,834
Accounts payable and accrued liabilities	694	23
Other liabilities	589	272
Liabilities of properties held for sale	$ 1,283	$ 295

Impairment Charges - Long-Liv_2

Impairment Charges - Long-Lived Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 12, 2024 property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges | $	$ 249.9	$ 149.7
Number of properties sold	51	31
Number of properties redeveloped	13	6
Number of owned real estate properties	589		3
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of owned real estate properties	9
Fair value | $	$ 61.2

Other Assets - Other Assets (De

Other Assets - Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid assets	$ 154,957	$ 116,455
Real estate notes receivable, net	127,624	173,614
Straight-line rent receivables	124,970	116,866
Accounts receivable, net	36,495	63,203
Above-market intangible assets, net	32,230	66,695
Interest rate swap assets	5,263	4,634
Project costs	4,903	6,187
Additional long-lived assets, net	4,197	20,717
Net investment in lease	2,168	2,112
Investment in securities	1,936	6,011
Debt issuance costs, net	1,758	3,867
Customer relationship intangible assets, net	1,011	1,066
Other	9,984	10,941
Other assets	507,496	592,368
Allowance for doubtful accounts	9,500	$ 8,400
Fair value measurement impairment	$ 4,100

Intangible Assets and Liabili_3

Intangible Assets and Liabilities - Components of intangible assets and liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of finite lived intangible assets and liabilities
Intangible assets and liabilities, gross	$ 653.7	$ 1,082.3
Intangible assets and liabilities, accumulated amortization	$ 349.4	301.5
Assets and liabilities, weighted avg. life (years)	5 years 9 months 18 days
Below-market lease intangibles (lessor) | Other liabilities
Schedule of finite lived intangible assets and liabilities
Liabilities gross balance	$ (98.3)	(112.5)
Liabilities accumulated amortization	$ (53.1)	(35.7)
Liabilities, weighted avg. life (years)	5 years 3 months 18 days
Goodwill | Other Assets
Schedule of finite lived intangible assets and liabilities
Assets gross balance	$ 0	250.5
Assets accumulated amortization	0	0
Credit facility debt issuance costs | Other Assets
Schedule of finite lived intangible assets and liabilities
Assets gross balance	6.9	6.9
Assets accumulated amortization	$ 5.2	3.1
Assets, weighted avg. life (years)	10 months 24 days
Above-market lease intangibles (lessor) | Other Assets
Schedule of finite lived intangible assets and liabilities
Assets gross balance	$ 74.8	98
Assets accumulated amortization	$ 42.3	31.3
Assets, weighted avg. life (years)	4 years
Customer relationship intangibles (lessor) | Other Assets
Schedule of finite lived intangible assets and liabilities
Assets gross balance	$ 2.1	2.1
Assets accumulated amortization	$ 1.1	1.1
Assets, weighted avg. life (years)	18 years 7 months 6 days
At-market lease intangibles | At-market lease intangibles
Schedule of finite lived intangible assets and liabilities
Assets gross balance	$ 668.2	837.3
Assets accumulated amortization	$ 353.9	$ 301.7
Assets, weighted avg. life (years)	5 years 10 months 24 days

Intangible Assets and Liabili_4

Intangible Assets and Liabilities - Expected future amortization expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible amortization expense	$ 167.7	$ 214.8	$ 133.6
Future Amortization of Intangibles, Net [Abstract]
2025	114.3
2026	68.4
2027	43.3
2028	24.7
2029	$ 14.9

Notes and Bonds Payable (Detail

Notes and Bonds Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Apr. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Senior notes carrying amount	$ 4,662,771,000		$ 4,994,859,000
Repaid amount	350,000,000
Accelerated amortization expense	200,000
Debt fees		$ 300,000
Line of Credit | $1.5B Unsecured Term Loan due 2023, net of issuance costs
Debt Instrument [Line Items]
Credit facility	1,500,000,000
Senior notes carrying amount	$ 0		0
Contractual interest rates, basis spread on variable rate	0.95%
EFFECTIVE INTEREST RATES	5.30%
Available to be drawn debt amount	$ 1,500,000,000
Medium-Term Note | $350 million Unsecured Term Loan due 2025, net of issuance costs
Debt Instrument [Line Items]
Face value	350,000,000
Senior notes carrying amount	$ 0		349,798,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Medium-Term Note | $200 million Unsecured Term Loan due 2025, net of issuance costs
Debt Instrument [Line Items]
Face value	$ 200,000,000
Senior notes carrying amount	$ 199,896,000		199,903,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Medium-Term Note | $150 million Unsecured Term Loan due 2026, net of issuance costs
Debt Instrument [Line Items]
Face value	$ 150,000,000
Senior notes carrying amount	$ 149,790,000		149,643,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Medium-Term Note | $300 million Unsecured Term Loan due 2025, net of issuance costs
Debt Instrument [Line Items]
Face value	$ 300,000,000
Senior notes carrying amount	$ 299,981,000		299,958,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Medium-Term Note | $200 million Unsecured Term Loan due 2027, net of issuance costs
Debt Instrument [Line Items]
Face value	$ 200,000,000
Senior notes carrying amount	$ 199,641,000		199,502,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Medium-Term Note | $300 million Unsecured Term Loan due 2028, net of issuance costs
Debt Instrument [Line Items]
Face value	$ 300,000,000
Senior notes carrying amount	$ 298,708,000		298,288,000
Contractual interest rates, basis spread on variable rate	1.04%
EFFECTIVE INTEREST RATES	5.59%
Senior Notes | Senior Notes due 2025
Debt Instrument [Line Items]
Senior notes carrying amount	$ 249,868,000		249,484,000
Contractual interest rates	3.88%
EFFECTIVE INTEREST RATES	4.12%
Senior Notes | Senior Notes due 2026
Debt Instrument [Line Items]
Senior notes carrying amount	$ 586,824,000		579,017,000
Contractual interest rates	3.50%
EFFECTIVE INTEREST RATES	4.94%
Senior Notes | Senior Notes Due 2027
Debt Instrument [Line Items]
Senior notes carrying amount	$ 488,104,000		483,727,000
Contractual interest rates	3.75%
EFFECTIVE INTEREST RATES	4.76%
Senior Notes | Senior Notes due 2028
Debt Instrument [Line Items]
Senior notes carrying amount	$ 298,029,000		297,429,000
Contractual interest rates	3.63%
EFFECTIVE INTEREST RATES	3.85%
Senior Notes | Senior Notes Due 2030 One
Debt Instrument [Line Items]
Senior notes carrying amount	$ 586,028,000		575,443,000
Contractual interest rates	3.10%
EFFECTIVE INTEREST RATES	5.30%
Senior Notes | Senior Notes Due 2030 Two
Debt Instrument [Line Items]
Senior notes carrying amount	$ 297,190,000		296,780,000
Contractual interest rates	2.40%
EFFECTIVE INTEREST RATES	2.72%
Senior Notes | Senior Notes Due 2031 One
Debt Instrument [Line Items]
Senior notes carrying amount	$ 296,343,000		295,832,000
Contractual interest rates	2.05%
EFFECTIVE INTEREST RATES	2.25%
Senior Notes | Senior Notes Due 2031 Two
Debt Instrument [Line Items]
Senior notes carrying amount	$ 667,233,000		649,521,000
Contractual interest rates	2%
EFFECTIVE INTEREST RATES	5.13%
Mortgage Notes | Mortgage Notes Payable
Debt Instrument [Line Items]
Face value	$ 45,278,000		70,752,000
Senior notes carrying amount	$ 45,136,000		$ 70,534,000
Minimum | Mortgage Notes
Debt Instrument [Line Items]
Contractual interest rates	3.60%
Minimum | Mortgage Notes | Mortgage Notes Payable
Debt Instrument [Line Items]
Contractual interest rates	3.60%
EFFECTIVE INTEREST RATES	3.57%
Maximum | Mortgage Notes
Debt Instrument [Line Items]
Contractual interest rates	4.50%
Maximum | Mortgage Notes | Mortgage Notes Payable
Debt Instrument [Line Items]
Contractual interest rates	4.77%
EFFECTIVE INTEREST RATES	6.88%

Notes and Bonds Payable - Senio

Notes and Bonds Payable - Senior and Term Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt issuance costs	$ (1,758)	$ (3,867)
Senior notes carrying amount	4,662,771	4,994,859
Healthcare Trust Of America, Inc
Debt Instrument [Line Items]
Senior notes principal balance	3,699,285	3,699,285
Unaccreted discount	(224,759)	(265,852)
Debt issuance costs	(4,907)	(6,200)
Senior notes carrying amount	$ 3,469,619	$ 3,427,233

Notes and Bonds Payable - Mortg

Notes and Bonds Payable - Mortgage Notes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt issuance costs	$ (1,758,000)	$ (3,867,000)
NOTES AND BONDS PAYABLE	4,662,771,000	4,994,859,000
Repaid amount	350,000,000
Accelerated amortization expense	200,000
Term Loan Net | Term Loan
Debt Instrument [Line Items]
Face value	1,150,000,000	1,500,000,000
Debt issuance costs	(1,984,000)	(2,908,000)
NOTES AND BONDS PAYABLE	1,148,016,000	1,497,092,000
Mortgage Notes Payable | Mortgage Notes
Debt Instrument [Line Items]
Face value	45,278,000	70,752,000
Unamortized premium	140,000	285,000
Unaccreted discount	(134,000)	(237,000)
Debt issuance costs	(148,000)	(266,000)
NOTES AND BONDS PAYABLE	$ 45,136,000	$ 70,534,000

Notes and Bonds Payable - Narra

Notes and Bonds Payable - Narrative (Details) $ in Millions	Jan. 14, 2025 USD ($)	Jan. 07, 2025 USD ($)	Sep. 01, 2024 USD ($) ft²	Feb. 01, 2024 USD ($) ft²	Jan. 06, 2024 USD ($) ft²
Mortgage Notes
Debt Instrument [Line Items]
Amount of debt repaid			$ 7	$ 5.6	$ 11.3
EFFECTIVE INTEREST RATES			4.15%	4.12%	4.77%
Unsecured Term Loan | Subsequent Event
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 10	$ 25
Senior notes principal balance	$ 300	$ 200
California | Mortgage Notes
Debt Instrument [Line Items]
Encumbered square footage | ft²			64,143		63,012
GEORGIA | Mortgage Notes
Debt Instrument [Line Items]
Encumbered square footage | ft²				40,324

Notes and Bonds Payable - Detai

Notes and Bonds Payable - Details of Mortgage Notes (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) mortage_note_payable	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Number of outstanding mortgage notes | mortage_note_payable	2
Mortgage Notes
Debt Instrument [Line Items]
Investment in collateral	$ 139,800,000
Mortgage notes payable carrying amount	$ 45,100,000	$ 70,500,000
Number of outstanding mortgage notes | mortage_note_payable	4
Mortgage Notes | Minimum
Debt Instrument [Line Items]
Contractual interest rates	3.60%
Mortgage Notes | Maximum
Debt Instrument [Line Items]
Contractual interest rates	4.50%
Mortgage Notes | Mortgage Notes 4.13% | Life Insurance Co.
Debt Instrument [Line Items]
Senior notes principal balance	$ 13,300,000
Effective interest rate	4.13%
Collateral	MOB
Principal and interest amortization period	10 years
Investment in collateral	$ 0
Mortgage notes payable carrying amount	0	11,300,000
Unamortized premium	800,000
Mortgage Notes | Mortgage Notes 3.96% | Life Insurance Co.
Debt Instrument [Line Items]
Senior notes principal balance	$ 6,800,000
Effective interest rate	3.96%
Collateral	MOB
Principal and interest amortization period	7 years
Investment in collateral	$ 0
Mortgage notes payable carrying amount	0	5,600,000
Unamortized premium	200,000
Mortgage Notes | Mortgage Notes 4.32% | Life Insurance Co.
Debt Instrument [Line Items]
Mortgage notes payable carrying amount		7,200,000
Mortgage Notes | Mortgage Notes 4.32% | Financial Services
Debt Instrument [Line Items]
Senior notes principal balance	$ 9,700,000
Effective interest rate	4.32%
Collateral	MOB
Principal and interest amortization period	10 years
Investment in collateral	$ 0
Mortgage notes payable carrying amount	0
Unamortized premium	100,000
Mortgage Notes | Mortgage Notes 3.43% | Life Insurance Co.
Debt Instrument [Line Items]
Senior notes principal balance	$ 16,500,000
Effective interest rate	3.57%
Collateral	MOB,OFC
Principal and interest amortization period	7 years
Investment in collateral	$ 39,700,000
Mortgage notes payable carrying amount	15,400,000	15,900,000
Unamortized premium	700,000
Mortgage Notes | Mortgage Notes 3.71% | Financial Services
Debt Instrument [Line Items]
Senior notes principal balance	$ 11,500,000
Effective interest rate	3.71%
Collateral	MOB
Principal and interest amortization period	10 years
Investment in collateral	$ 42,300,000
Mortgage notes payable carrying amount	7,400,000	7,800,000
Mortgage Notes | Mortgage Notes 6.883% | Life Insurance Co.
Debt Instrument [Line Items]
Senior notes principal balance	$ 6,000,000
Effective interest rate	6.88%
Principal and interest amortization period	7 years
Unaccreted discount	$ 300,000
Mortgage Notes | Mortgage Notes 6.883% | Financial Services
Debt Instrument [Line Items]
Collateral	MOB
Investment in collateral	$ 11,800,000
Mortgage notes payable carrying amount	5,200,000	5,200,000
Mortgage Notes | Mortgage Notes 4.08% | Life Insurance Co.
Debt Instrument [Line Items]
Senior notes principal balance	$ 19,200,000
Effective interest rate	4.08%
Collateral	MOB
Principal and interest amortization period	10 years
Investment in collateral	$ 46,000,000
Mortgage notes payable carrying amount	$ 17,100,000	$ 17,500,000

Notes and Bonds Payable - Futur

Notes and Bonds Payable - Future Maturities (Details) $ in Thousands	Dec. 31, 2024 USD ($) mortage_note_payable	Dec. 31, 2023 USD ($)
Long Term Debt Maturities [Line Items]
Number of outstanding mortgage notes | mortage_note_payable	2
Excluded debt issuance costs	$ 1,800
Future contractual maturities of the Company's notes and bonds payable
Debt issuance costs	(1,758)	$ (3,867)
NOTES AND BONDS PAYABLE	4,662,771	$ 4,994,859
2025
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	766,375
Net Accretion/Amortization	(43,163)
Debt issuance costs	(2,020)
NOTES AND BONDS PAYABLE	$ 721,192
%	15.50%
2026
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 778,904
Net Accretion/Amortization	(41,837)
Debt issuance costs	(1,650)
NOTES AND BONDS PAYABLE	$ 735,417
%	15.80%
2027
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 700,000
Net Accretion/Amortization	(36,192)
Debt issuance costs	(1,519)
NOTES AND BONDS PAYABLE	$ 662,289
%	14.20%
2028
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 600,000
Net Accretion/Amortization	(35,179)
Debt issuance costs	(707)
NOTES AND BONDS PAYABLE	$ 564,114
%	12.10%
2029
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 0
Net Accretion/Amortization	(37,025)
Debt issuance costs	(674)
NOTES AND BONDS PAYABLE	$ (37,699)
%	(0.80%)
2030 and thereafter
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 2,049,286
Net Accretion/Amortization	(31,357)
Debt issuance costs	(471)
NOTES AND BONDS PAYABLE	$ 2,017,458
%	43.20%
Net of Unsecured Credit Facility
Future contractual maturities of the Company's notes and bonds payable
PRINCIPAL MATURITIES	$ 4,894,565
Net Accretion/Amortization	(224,753)
Debt issuance costs	(7,041)
NOTES AND BONDS PAYABLE	$ 4,662,771
%	100%

Derivative Financial Instrume_3

Derivative Financial Instruments - Cash Flow Hedges of Interest Rate Risk (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Interest Rate Swap
Derivative [Line Items]
Derivative notional amount	$ 1,075,000	$ 1,275,000
Derivative, fixed interest rate	3.92%	3.49%
Interest Rate Swap, Expiring January 2024
Derivative [Line Items]
Derivative notional amount		$ 200,000
Derivative, fixed interest rate		1.21%
Interest Rate Swap, Expiring May 2026
Derivative [Line Items]
Derivative notional amount	$ 275,000	$ 275,000
Derivative, fixed interest rate	3.74%	3.74%
Interest Rate Swap, Expiring June 2026
Derivative [Line Items]
Derivative notional amount	$ 150,000	$ 150,000
Derivative, fixed interest rate	3.83%	3.83%
Interest Rate Swap, Expiring December 2026
Derivative [Line Items]
Derivative notional amount	$ 150,000	$ 150,000
Derivative, fixed interest rate	3.84%	3.84%
Interest Rate Swap, Expiring June 2027
Derivative [Line Items]
Derivative notional amount	$ 200,000	$ 200,000
Derivative, fixed interest rate	4.27%	4.27%
Interest Rate Swap, Expiring December 2027
Derivative [Line Items]
Derivative notional amount	$ 300,000	$ 300,000
Derivative, fixed interest rate	3.93%	3.93%

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized assets	$ 5,264
GROSS AMOUNTS of recognized liabilities	(4,163)
Interest Rate Swap | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized liabilities		$ (7,799)
Total derivatives designated as hedging instruments	1,101
Interest rate swaps 2019 | Designated as Hedging Instrument | Other Assets
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized assets	2,493	4,214
Interest rate swaps 2022 | Designated as Hedging Instrument | Other Assets
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized assets	2,250
Interest rate swaps 2022 | Designated as Hedging Instrument | Other liabilities
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized liabilities	(853)	(5,067)
Interest rate swaps 2023 | Designated as Hedging Instrument | Other Assets
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized assets	521	411
Interest rate swaps 2023 | Designated as Hedging Instrument | Other liabilities
Derivatives, Fair Value [Line Items]
GROSS AMOUNTS of recognized liabilities	$ (3,310)	$ (7,357)

Derivative Financial Instrume_5

Derivative Financial Instruments - Effect of Cash Flow Hedging on AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	$ 22,809	$ 1,463	$ 10,630
Amount of (gain)/loss reclassified from AOCI into income	13,137	14,488	$ (1,527)
Interest rate swaps 2019
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	0	1,995
Interest rate swaps 2022
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	15,237	4,583
Interest rate swaps 2023
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	7,572	(5,115)
Settled treasury hedges
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	0	0
Settled interest rate swaps
Derivative [Line Items]
Amount of gain/(loss) recognized in AOCI on derivative	0	0
Interest Expense [Member]
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	(13,137)	(14,488)
Interest Expense [Member] | Interest rate swaps 2019
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	0	(6,964)
Interest Expense [Member] | Interest rate swaps 2022
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	(10,317)	(6,289)
Interest Expense [Member] | Interest rate swaps 2023
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	(3,416)	(1,829)
Interest Expense [Member] | Settled treasury hedges
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	428	426
Interest Expense [Member] | Settled interest rate swaps
Derivative [Line Items]
Amount of (gain)/loss reclassified from AOCI into income	$ 168	$ 168

Derivative Financial Instrume_6

Derivative Financial Instruments - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Reclassified from accumulated other comprehensive loss	$ 1.4
Fair value of derivatives in a net liability position	$ 2.9

Derivative Financial Instrume_7

Derivative Financial Instruments - Offsetting Derivatives (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Offsetting of Derivative Assets
GROSS AMOUNTS of recognized assets	$ 5,264
GROSS AMOUNTS OFFSET in the Consolidated Balance Sheets	0
NET AMOUNTS OF ASSETS presented in the Consolidated Balance Sheets	5,264
FINANCIAL INSTRUMENTS	(5,264)
CASH COLLATERAL	0
NET AMOUNT	$ 0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net
Offsetting of Derivative Liabilities
GROSS AMOUNTS of recognized liabilities	$ (4,163)
GROSS AMOUNTS OFFSET in the Consolidated Balance Sheets	0
NET AMOUNTS OF LIABILITIES presented in the Consolidated Balance Sheets	(4,163)
FINANCIAL INSTRUMENTS	5,264
CASH COLLATERAL	0
NET AMOUNT	$ 1,101
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities

Stockholders' Equity - Common s

Stockholders' Equity - Common shares (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, outstanding (in shares)	0	0	0
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of year (in shares)	380,964,000
Shares repurchased (in shares)	(30,794,250)	0	0
Balance, end of year (in shares)	350,532,000	380,964,000
Common Stock
Class of Stock [Line Items]
Preferred stock, outstanding (in shares)	0	0	0
Reconciliation of the beginning and ending common stock outstanding
Balance, beginning of year (in shares)	380,964,433	380,589,894	150,457,433
Issuance of common stock (in shares)	8,623	8,627	229,618,304
Conversion of OP units to common stock (in shares)	194,767	190,544	0
Non-vested share-based awards, net of withheld shares and forfeitures (in shares)	158,433	175,368	514,157
Balance, end of year (in shares)	350,532,006	380,964,433	380,589,894

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 18, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Dividends per share to common stockholders, declared (in USD per share)		$ 1.24	$ 1.24	$ 1.24
Dividends per share to common stockholders, paid per quarter (in USD per share)		$ 0.31
Treasury stock, shares, acquired (in shares)		30,800,000
Shares acquired, average cost per share (in USD per share)		$ 16.56
Common stock repurchases, excluding commissions		$ 509.8
Additional share repurchased		$ 237
Subsequent Event
Class of Stock [Line Items]
Dividends per share to common stockholders, declared (in USD per share)	$ 0.31

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net current-period other comprehensive income (loss)	$ 9,672	$ (13,025)	$ 12,157
Forward Starting Swaps | Reclassification out of Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(10,741)	2,140
Other comprehensive income (loss) before reclassifications	22,527	1,434
Amounts reclassified from accumulated other comprehensive (loss) income	(12,954)	(14,315)
Net current-period other comprehensive income (loss)	9,573	(12,881)
Balance, end of period	$ (1,168)	$ (10,741)	$ 2,140

Stockholders' Equity - Reclassi

Stockholders' Equity - Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net (loss) income	$ 663,904	$ 282,083	$ (40,693)
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net (loss) income	(13,137)
Amounts reclassified from accumulated other comprehensive income (loss) related to settled interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	596
Amounts reclassified from accumulated other comprehensive income (loss) related to current interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	$ (13,733)

Stock and Other Incentive Pla_3

Stock and Other Incentive Plans - Stock Incentive Plan Narrative (Details) - Restricted Stock - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 20, 2022
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	6,140,496	8,102,861		9,647,839
Accelerated stock compensation expense	$ 31.8	$ 14.6	$ 13.9
Acceleration of amortization outstanding awards	$ 17.8
Legacy HR Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Legacy HR Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	8 years

Stock and Other Incentive Pla_4

Stock and Other Incentive Plans - Amortization of Compensation for Nonvested Shares (Details) $ in Millions	Dec. 31, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
2025	$ 8.4
2026	5.5
2027	3.2
2028	1.3
2029 and thereafter	0.4
Total	$ 18.8

Stock and Other Incentive Pla_5

Stock and Other Incentive Plans - Executive Incentive Plan Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		12 Months Ended
	Apr. 30, 2024	Feb. 13, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Executive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested grant date fair value (in dollars per share)		$ 16.61
Executive Incentive Plan | At the Market Equity Offering Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of RSUnits	36%	36%
Executive Incentive Plan | Market Condition 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)		$ 19.10
Executive Incentive Plan | Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of RSUnits	64%	64%
Vested grant date fair value (in dollars per share)		$ 15.22
Performance Shares | Executive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation expense					$ 16.8	$ 9	$ 9.8
Acceleration of amortization outstanding awards					$ 8.5
Performance Shares | Executive Incentive Plan | Share-Based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Non Vested Stock Award | Executive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period				$ 4.3
Granted in period (in shares)				283,320
Non Vested Stock Award | Executive Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			5 years	5 years
Non Vested Stock Award | Other Members Of Senior Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period			$ 0.1
Granted in period (in shares)			9,350
Restricted Stock Units (RSUs) | Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)	$ 14.23
Restricted Stock Units (RSUs) | Market Condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)	$ 14.94
Restricted Stock Units (RSUs) | Executive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period	$ 0.3	$ 3.5
Granted in period (in shares)	21,816	208,055
Award vesting period	5 years	5 years
Restricted Stock Units (RSUs) | Executive Incentive Plan | Share-Based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Restricted Stock Units (RSUs) | Executive Incentive Plan | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%	50%
Restricted Stock Units (RSUs) | Executive Incentive Plan | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%

Stock and Other Incentive Pla_6

Stock and Other Incentive Plans - Schedule of Stock Options, Valuation Assumptions (Details) - $ / shares	Apr. 30, 2024	Feb. 13, 2024
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility		28%
Expected term		3 years
Risk-free rate		4.44%
Stock price (in dollar per share)		$ 15.22
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility	29%
Expected term	3 years
Risk-free rate	4.85%
Stock price (in dollar per share)	$ 14.23
Operating Partnership Performance Units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility		28%
Expected term		3 years
Risk-free rate		4.44%
Stock price (in dollar per share)		$ 15.22

Stock and Other Incentive Pla_7

Stock and Other Incentive Plans - LTIP Series C Units Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended		12 Months Ended
	Apr. 30, 2024	Feb. 13, 2024	Feb. 29, 2024	Jan. 31, 2023	Dec. 31, 2024
Restricted Stock Units (RSUs) | Market Condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)	$ 14.94
Restricted Stock Units (RSUs) | Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)	14.23
Operating Partnership Performance Units | Market Condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)			$ 9.62
LTIP Series C Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested grant date fair value (in dollars per share)				$ 13.22
LTIP Series C Units | Market Condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Of LTIP-C Units				36%
LTIP Series C Units | Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Of LTIP-C Units				64%
Granted, fair value (in dollars per share)		$ 15.22
LTIP Series C Units | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, fair value (in dollars per share)	$ 14.48
Executive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested grant date fair value (in dollars per share)		16.61
Executive Incentive Plan | Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested grant date fair value (in dollars per share)		$ 15.22
Executive Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)	21,816	208,055
Award vesting period	5 years	5 years
Executive Incentive Plan | Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%	50%
Executive Incentive Plan | Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%
Directors | Share-Based Payment Arrangement, Nonemployee | LTIP Series C Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)		906,044
Grant date fair value		$ 7.5
Award vesting period		3 years
Expense recognition period		5 years
Officer | LTIP Series C Units | LTIP-C Unit Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation expense					$ 8.8
Acceleration of amortization outstanding awards					$ 7.2

Stock and Other Incentive Pla_8

Stock and Other Incentive Plans - Officer Incentive Program Narrative (Details) - Officer Incentive Program - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Non-Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of performance based awards released	$ 0.7
Number of executive officers granted awards (in shares)	48,490
Non-Executive Officers | Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Non-Executive Officers | Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	8 years
Non-Executive Officers | Weighted Average | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation expense		$ 0.5	$ 0.6	$ 0.9
Acceleration of amortization outstanding awards		$ 0.1

Stock and Other Incentive Pla_9

Stock and Other Incentive Plans - Salary Deferral Plan Narrative (Details) - Salary Deferral Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum salary deferral for officers under the plan, percent	50%
Shares issued under the plan (in shares)	29,902	31,792	17,381
Accelerated stock compensation expense	$ 1.1	$ 0.9	$ 0.9
Deferral Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Employer matching contribution, percent	30%
Deferral Option Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Employer matching contribution, percent	50%
Deferral Option Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	8 years
Employer matching contribution, percent	100%

Stock and Other Incentive Pl_10

Stock and Other Incentive Plans - Non-employee Directors Incentive Plan Narrative (Details) - Non-Employee Directors Incentive Plan - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Non Vested Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Granted in period	$ 0.9
Granted in period (in shares)	58,910
LTIP-D units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Granted in period	$ 0.8
Granted in period (in shares)	45,982
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		1 year
Accelerated stock compensation expense		$ 2.4	$ 2.1	$ 1.5

Stock and Other Incentive Pl_11

Stock and Other Incentive Plans - Other Grants Narrative (Details) - Other Grants - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation expense	$ 2.2	$ 0.8	$ 0.8
Acceleration of amortization outstanding awards	$ 1.6
Non Vested Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)	51,884
Granted in period	$ 0.9
Award vesting period	3 years
Restricted Stock and Performance Based Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock and Performance Based Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	8 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual terms	3 years 10 months 24 days
Withheld of common stock (in shares)	485,209	126,085	137,892
Executive Officer | Non Vested Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)	69,022
Granted in period	$ 1.2
Award vesting period	1 year

Stock and Other Incentive Pl_12

Stock and Other Incentive Plans - 2015 Incentive Plan and related information (Details) - Stock Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Summary of the activity under the incentive plans
Share-based awards, beginning of year (in shares)	2,615,562	2,090,060	1,562,028
Granted (in shares)	1,732,484	1,164,359	952,407
Vested (in shares)	(2,284,767)	(403,266)	(418,949)
Change in awards based on performance assessment (in shares)	(47,202)	(205,668)	0
Forfeited (in shares)	(216,340)	(29,923)	(5,426)
Share-based awards, end of year (in shares)	1,799,737	2,615,562	2,090,060
Weighted-average grant date fair value of:
Share-based awards, beginning of year (in dollars per share)	$ 25.56	$ 30.35	$ 31.10
Share-based awards granted during the year (in dollars per share)	15.49	18.70	29.64
Share-based awards vested during the years (in dollars per share)	21.43	28.38	31.52
Share-based awards change in performance assessment during the year (in dollars per share)	20.21	29.05	0
Share-based awards forfeitures during the year (in dollars per share)	16.87	31.16	31.48
Share-based awards, end of year (in dollars per share)	$ 22.30	$ 25.56	$ 30.35
Grant date fair value of shares granted during the year	$ 26,844	$ 22,171	$ 28,225

Stock and Other Incentive Pl_13

Stock and Other Incentive Plans - 401(k) Plan/Employee Stock Purchase Plan Narrative (Details) - 401(k) Plan - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined contribution plan, employer matching contribution, amount of employees gross pay	$ 2,800
Value of matching contribution	$ 1,400,000	$ 1,500,000	$ 1,200,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Weighted average common shares outstanding
Weighted average common shares outstanding (in shares)	367,444,706	380,850,967	254,296,810
Non-vested shares (in shares)	(1,891,650)	(1,923,096)	(1,940,607)
Weighted average common shares outstanding - Basic (in shares)	365,553,056	378,927,871	252,356,203
Dilutive effect of OP Units (in shares)	0	0	1,451,599
Dilutive effect of employee stock purchase plan (in shares)	0	0	65,519
Weighted average common shares outstanding - diluted (in shares)	365,553,056	378,927,871	253,873,321
Net (loss) income	$ (663,904)	$ (282,083)	$ 40,693
Income allocated to participating securities	(3,122)	(2,504)	(2,437)
Net loss attributable to non-controlling interest	9,419	3,822	204
Adjustment to loss attributable to non-controlling interest for legally outstanding restricted units	(2,798)	(851)	0
Net (loss) income applicable to common stockholders - basic	(660,405)	(281,616)	38,460
Net income attributable to OP Units	0	0	81
Net income applicable to common stockholders - diluted	$ (660,405)	$ (281,616)	$ 38,541
Basic earnings per common share - net income (in dollars per share)	$ (1.81)	$ (0.74)	$ 0.15
Diluted earnings per common share- net income (in dollars per share)	$ (1.81)	$ (0.74)	$ 0.15

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - Employee Stock Option	12 Months Ended
	Dec. 31, 2024 shares
Class of Stock [Line Items]
Weighted-average incremental shares of common stock excluded from the computation (in shares)	4,751
Operating Partnership Performance Units
Class of Stock [Line Items]
Nonvested shares (in shares)	3,652,553

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property
Property, Plant and Equipment [Line Items]
Number of land parcels held for development | property	15	17
Investment in land held for development	$ 52.4	$ 59.9
Letter of Credit
Property, Plant and Equipment [Line Items]
Deposits	33.4
First and Second Generation Leases | Tenant Improvement Allowances
Property, Plant and Equipment [Line Items]
Anticipated amount of investment	$ 212.8

Other Data - Narrative (Details

Other Data - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax Credit Carryforward [Line Items]
Number of preferred shares outstanding (in shares)	0	0	0
Dividends distributed to preferred shares	$ 0	$ 0	$ 0
Legacy HR
Tax Credit Carryforward [Line Items]
Estimated aggregate total cost of total assets for federal income tax purposes	$ 11,100,000,000	$ 12,600,000,000	$ 13,000,000,000

Other Data - Characterization o

Other Data - Characterization of Distributions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax Treatment of Dividends Pre-Merger Healthcare Trust of America
Characterization of distributions on common stock
Ordinary income (in dollars per share)	$ 0	$ 0	$ 0.5862
Return of capital (in dollars per share)	0	0	4.0162
Capital gain (in dollars per share)	0	0	1.2216
Common stock distributions (in dollars per share)	0	0	5.8240
Tax Treatment of Dividends Pre-Merger Healthcare Realty
Characterization of distributions on common stock
Ordinary income (in dollars per share)	0	0	0.2655
Return of capital (in dollars per share)	0	0	0.5555
Capital gain (in dollars per share)	0	0	0
Common stock distributions (in dollars per share)	0	0	0.8210
Tax Treatment of Dividends Post-Merger Healthcare Realty
Characterization of distributions on common stock
Ordinary income (in dollars per share)	0.4335	0.5482	0.0422
Return of capital (in dollars per share)	0.7558	0.5031	0.2889
Capital gain (in dollars per share)	0.0507	0.1887	0.0879
Common stock distributions (in dollars per share)	$ 1.2400	$ 1.2400	$ 0.4190

Other Data - State Income Taxes

Other Data - State Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
State income tax expense
Texas gross margins tax	$ 1,674	$ 1,206	$ 1,693
Other	126	133	151
Total state income tax expense	1,800	1,339	1,844
State income tax payments, net of refunds and collections	$ 1,787	$ 1,324	$ 1,834

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
CARRYING VALUE
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bonds payable	$ 4,662.8	$ 4,994.9
Real estate notes receivable	127.2	173.6
FAIR VALUE
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bonds payable	4,578.4	4,872.7
Real estate notes receivable	$ 122.4	$ 172.5

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,268,316	$ 1,343,769	$ 932,637
Transaction costs	(3,122)	(2,026)	(3,229)
Merger-related costs	0	1,952	(103,380)
Depreciation and amortization	(675,152)	(730,709)	(453,082)
Gain on sales of real estate properties and other assets	109,753	77,546	270,271
Interest expense	(242,425)	(258,584)	(146,691)
(Loss) gain on extinguishment of debt	(237)	62	(2,401)
Impairment of real estate properties and credit loss reserves	(313,547)	(154,912)	(54,427)
Impairment of goodwill	(250,530)	0	0
Equity loss recognized during the period	(135)	(1,682)	(687)
Other Nonoperating Income (Expense)	(260)	1,343	(1,546)
Net (loss) income	(663,904)	(282,083)	40,693
Medial Outpatient Properties Segment
Segment Reporting Information [Line Items]
Totals	428,478	452,218	323,849
Revenue	1,268,316	1,343,769	932,637
Property taxes	(126,692)	(137,634)	(98,101)
Personnel	(92,935)	(94,775)	(79,222)
Utilities	(97,889)	(101,840)	(65,999)
Maintenance	(110,962)	(117,969)	(80,527)
Other segment expenses	(128,087)	(106,624)	(72,923)
Transaction costs	(3,122)	(2,026)	(3,229)
Merger-related costs	0	1,952	(103,380)
Depreciation and amortization	(675,152)	(730,709)	(453,082)
Gain on sales of real estate properties and other assets	109,753	77,546	270,271
Interest expense	(242,425)	(258,584)	(146,691)
(Loss) gain on extinguishment of debt	(237)	62	(2,401)
Impairment of real estate properties and credit loss reserves	(313,547)	(154,912)	(54,427)
Impairment of goodwill	(250,530)	0	0
Equity loss recognized during the period	(135)	(1,682)	(687)
Other Nonoperating Income (Expense)	(260)	1,343	(1,546)
Net (loss) income	(663,904)	(282,083)	40,693
Property taxes | Medial Outpatient Properties Segment
Segment Reporting Information [Line Items]
Totals	126,692	137,634	98,101
Personnel | Medial Outpatient Properties Segment
Segment Reporting Information [Line Items]
Totals	92,935	94,775	79,222
Utilities | Medial Outpatient Properties Segment
Segment Reporting Information [Line Items]
Totals	97,889	101,840	65,999
Maintenance | Medial Outpatient Properties Segment
Segment Reporting Information [Line Items]
Totals	$ 110,962	$ 117,969	$ 80,527

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Accounts receivable allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 8,404	$ 3,954	$ 654
Charged/(Credited) to costs and expenses, additions and deductions	2,094	5,119	3,306
Charged to other accounts, additions and deductions	0	0	0
Uncollectible accounts written-off	962	669	6
Balance at end of period	$ 9,536	$ 8,404	$ 3,954

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Thousands	Dec. 31, 2024 USD ($) property	Dec. 12, 2024 property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary of real estate properties
NUMBER OF PROPERTIES | property	589	3
Buildings, Improvements, Lease Intangibles, and CIP
Gross real estate asset, Total	$ 11,828,265		$ 13,408,713	$ 14,076,475	$ 5,104,942
Accumulated depreciation	$ 2,488,931		$ 2,227,766	$ 1,645,271	$ 1,338,743
Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	586
Land
INITIAL INVESTMENT	$ 973,293
COST CAPITALIZED subsequent to acquisition	181,034
TOTAL	1,154,327
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	9,282,699
COST CAPITALIZED subsequent to acquisition	1,095,930
TOTAL	10,378,629
PERSONAL PROPERTY	9,909
Gross real estate asset, Total	11,542,865
Accumulated depreciation	2,488,931
Encumbrances	$ 45,137
Land held for develop.
Summary of real estate properties
NUMBER OF PROPERTIES | property	0
Land
INITIAL INVESTMENT	$ 52,408
COST CAPITALIZED subsequent to acquisition	0
TOTAL	52,408
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
PERSONAL PROPERTY	0
Gross real estate asset, Total	52,408
Accumulated depreciation
Encumbrances	$ 0
Construction in progress
Summary of real estate properties
NUMBER OF PROPERTIES | property	0
Land
INITIAL INVESTMENT	$ 0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	31,978
COST CAPITALIZED subsequent to acquisition	0
TOTAL	31,978
PERSONAL PROPERTY	0
Gross real estate asset, Total	31,978
Accumulated depreciation	0
Encumbrances	$ 0
Financing lease right-of-use assets
Summary of real estate properties
NUMBER OF PROPERTIES | property	0
Land
INITIAL INVESTMENT	$ 0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
PERSONAL PROPERTY	0
Gross real estate asset, Total	77,343
Accumulated depreciation	0
Encumbrances	$ 0
Investment in financing receivables, net
Summary of real estate properties
NUMBER OF PROPERTIES | property	0
Land
INITIAL INVESTMENT	$ 0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	0
COST CAPITALIZED subsequent to acquisition	0
TOTAL	0
PERSONAL PROPERTY	0
Gross real estate asset, Total	123,671
Accumulated depreciation	0
Encumbrances	$ 0
Total properties
Summary of real estate properties
NUMBER OF PROPERTIES | property	586
Land
INITIAL INVESTMENT	$ 1,025,701
COST CAPITALIZED subsequent to acquisition	181,034
TOTAL	1,206,735
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	9,314,677
COST CAPITALIZED subsequent to acquisition	1,095,930
TOTAL	10,410,607
PERSONAL PROPERTY	9,909
Gross real estate asset, Total	11,828,265
Accumulated depreciation	2,488,931
Encumbrances	$ 45,137
Dallas, TX | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	39
Land
INITIAL INVESTMENT	$ 59,646
COST CAPITALIZED subsequent to acquisition	13,383
TOTAL	73,029
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	734,249
COST CAPITALIZED subsequent to acquisition	171,324
TOTAL	905,573
PERSONAL PROPERTY	547
Gross real estate asset, Total	979,149
Accumulated depreciation	245,493
Encumbrances	$ 0
Houston, TX | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	24
Land
INITIAL INVESTMENT	$ 41,251
COST CAPITALIZED subsequent to acquisition	4,021
TOTAL	45,272
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	457,146
COST CAPITALIZED subsequent to acquisition	95,775
TOTAL	552,921
PERSONAL PROPERTY	679
Gross real estate asset, Total	598,872
Accumulated depreciation	184,304
Encumbrances	$ 0
WASHINGTON | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	31
Land
INITIAL INVESTMENT	$ 25,635
COST CAPITALIZED subsequent to acquisition	7,345
TOTAL	32,980
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	433,524
COST CAPITALIZED subsequent to acquisition	54,597
TOTAL	488,121
PERSONAL PROPERTY	133
Gross real estate asset, Total	521,234
Accumulated depreciation	134,075
Encumbrances	$ 0
Denver, CO | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	26
Land
INITIAL INVESTMENT	$ 50,389
COST CAPITALIZED subsequent to acquisition	10,812
TOTAL	61,201
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	528,854
COST CAPITALIZED subsequent to acquisition	27,686
TOTAL	556,540
PERSONAL PROPERTY	46
Gross real estate asset, Total	617,787
Accumulated depreciation	106,416
Encumbrances	$ 0
NORTH CAROLINA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	26
Land
INITIAL INVESTMENT	$ 49,621
COST CAPITALIZED subsequent to acquisition	9,918
TOTAL	59,539
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	373,784
COST CAPITALIZED subsequent to acquisition	56,284
TOTAL	430,068
PERSONAL PROPERTY	605
Gross real estate asset, Total	490,212
Accumulated depreciation	109,752
Encumbrances	$ 0
ARIZONA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	24
Land
INITIAL INVESTMENT	$ 31,501
COST CAPITALIZED subsequent to acquisition	8,394
TOTAL	39,895
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	369,109
COST CAPITALIZED subsequent to acquisition	17,252
TOTAL	386,361
PERSONAL PROPERTY	102
Gross real estate asset, Total	426,358
Accumulated depreciation	86,861
Encumbrances	$ 0
GEORGIA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	16
Land
INITIAL INVESTMENT	$ 117,857
COST CAPITALIZED subsequent to acquisition	9,590
TOTAL	127,447
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	336,494
COST CAPITALIZED subsequent to acquisition	(17,422)
TOTAL	319,072
PERSONAL PROPERTY	14
Gross real estate asset, Total	446,533
Accumulated depreciation	62,449
Encumbrances	$ 0
Boston, MA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	15
Land
INITIAL INVESTMENT	$ 47,027
COST CAPITALIZED subsequent to acquisition	2,743
TOTAL	49,770
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	201,800
COST CAPITALIZED subsequent to acquisition	67,303
TOTAL	269,103
PERSONAL PROPERTY	401
Gross real estate asset, Total	319,274
Accumulated depreciation	131,477
Encumbrances	$ 17,113
Raleigh, NC | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	35
Land
INITIAL INVESTMENT	$ 21,120
COST CAPITALIZED subsequent to acquisition	8,057
TOTAL	29,177
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	469,183
COST CAPITALIZED subsequent to acquisition	54,748
TOTAL	523,931
PERSONAL PROPERTY	427
Gross real estate asset, Total	553,535
Accumulated depreciation	84,116
Encumbrances	$ 0
Nashville, TN | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	25
Land
INITIAL INVESTMENT	$ 47,773
COST CAPITALIZED subsequent to acquisition	10,134
TOTAL	57,907
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	372,169
COST CAPITALIZED subsequent to acquisition	23,205
TOTAL	395,374
PERSONAL PROPERTY	13
Gross real estate asset, Total	453,294
Accumulated depreciation	55,468
Encumbrances	$ 0
Los Angeles, CA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	11
Land
INITIAL INVESTMENT	$ 35,670
COST CAPITALIZED subsequent to acquisition	2,387
TOTAL	38,057
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	240,744
COST CAPITALIZED subsequent to acquisition	108,513
TOTAL	349,257
PERSONAL PROPERTY	4,422
Gross real estate asset, Total	391,736
Accumulated depreciation	128,686
Encumbrances	$ 7,391
Miami, FL | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	14
Land
INITIAL INVESTMENT	$ 19,100
COST CAPITALIZED subsequent to acquisition	3,789
TOTAL	22,889
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	245,413
COST CAPITALIZED subsequent to acquisition	38,346
TOTAL	283,759
PERSONAL PROPERTY	176
Gross real estate asset, Total	306,824
Accumulated depreciation	75,640
Encumbrances	$ 0
Tampa, FL | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	18
Land
INITIAL INVESTMENT	$ 23,491
COST CAPITALIZED subsequent to acquisition	7,095
TOTAL	30,586
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	319,520
COST CAPITALIZED subsequent to acquisition	19,969
TOTAL	339,489
PERSONAL PROPERTY	33
Gross real estate asset, Total	370,108
Accumulated depreciation	53,946
Encumbrances	$ 0
INDIANA | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	39
Land
INITIAL INVESTMENT	$ 42,629
COST CAPITALIZED subsequent to acquisition	8,245
TOTAL	50,874
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	274,723
COST CAPITALIZED subsequent to acquisition	23,130
TOTAL	297,853
PERSONAL PROPERTY	13
Gross real estate asset, Total	348,740
Accumulated depreciation	50,188
Encumbrances	$ 0
TEXAS | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	14
Land
INITIAL INVESTMENT	$ 58,719
COST CAPITALIZED subsequent to acquisition	4,658
TOTAL	63,377
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	179,119
COST CAPITALIZED subsequent to acquisition	9,882
TOTAL	189,001
PERSONAL PROPERTY	0
Gross real estate asset, Total	252,378
Accumulated depreciation	26,533
Encumbrances	$ 0
NEW YORK | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	11
Land
INITIAL INVESTMENT	$ 16,719
COST CAPITALIZED subsequent to acquisition	4,882
TOTAL	21,601
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	216,066
COST CAPITALIZED subsequent to acquisition	20,364
TOTAL	236,430
PERSONAL PROPERTY	37
Gross real estate asset, Total	258,068
Accumulated depreciation	46,372
Encumbrances	$ 0
ILLINOIS | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	9
Land
INITIAL INVESTMENT	$ 3,756
COST CAPITALIZED subsequent to acquisition	1,509
TOTAL	5,265
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	187,304
COST CAPITALIZED subsequent to acquisition	36,987
TOTAL	224,291
PERSONAL PROPERTY	48
Gross real estate asset, Total	229,604
Accumulated depreciation	59,598
Encumbrances	$ 0
Memphis, TN | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	6
Land
INITIAL INVESTMENT	$ 11,250
COST CAPITALIZED subsequent to acquisition	2,554
TOTAL	13,804
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	204,996
COST CAPITALIZED subsequent to acquisition	19,989
TOTAL	224,985
PERSONAL PROPERTY	81
Gross real estate asset, Total	238,870
Accumulated depreciation	45,205
Encumbrances	$ 0
Honolulu, HI | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	6
Land
INITIAL INVESTMENT	$ 48,443
COST CAPITALIZED subsequent to acquisition	737
TOTAL	49,180
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	164,562
COST CAPITALIZED subsequent to acquisition	27,213
TOTAL	191,775
PERSONAL PROPERTY	52
Gross real estate asset, Total	241,007
Accumulated depreciation	59,302
Encumbrances	$ 0
CONNECTICUT | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	7
Land
INITIAL INVESTMENT	$ 6,734
COST CAPITALIZED subsequent to acquisition	3,059
TOTAL	9,793
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	180,641
COST CAPITALIZED subsequent to acquisition	6,929
TOTAL	187,570
PERSONAL PROPERTY	1
Gross real estate asset, Total	197,364
Accumulated depreciation	29,866
Encumbrances	$ 0
Other (45 markets) | Real estate acquired
Summary of real estate properties
NUMBER OF PROPERTIES | property	190
Land
INITIAL INVESTMENT	$ 214,962
COST CAPITALIZED subsequent to acquisition	57,722
TOTAL	272,684
Buildings, Improvements, Lease Intangibles, and CIP
INITIAL INVESTMENT	2,793,299
COST CAPITALIZED subsequent to acquisition	233,856
TOTAL	3,027,155
PERSONAL PROPERTY	2,079
Gross real estate asset, Total	3,301,918
Accumulated depreciation	713,184
Encumbrances	$ 20,633

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Narrative (Details) $ in Thousands	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Federal income tax purposes	$ 11,100,000
Issuance costs	1,758	$ 3,867
Mortgage Notes Payable | Mortgage Notes
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Unamortized premium	140	285
Unaccreted discount	134	237
Issuance costs	$ 148	$ 266
Minimum | Buildings and improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	3 years 3 months 18 days
Minimum | Lease intangibles
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	1 year
Minimum | Personal Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	3 years
Minimum | Land improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	2 years
Maximum | Buildings and improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	49 years
Maximum | Lease intangibles
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	99 years
Maximum | Personal Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	10 years
Maximum | Land improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Asset estimated useful life	39 years
Asset Held-for-sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of real estate assets held for sale | property	3
Amount of ​assets ​held for ​sale	$ 17,600

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Beginning Balance, Total Property	$ 13,408,713	$ 14,076,475	$ 5,104,942
Retirement/dispositions
Ending Balance, Total Property	11,828,265	13,408,713	14,076,475
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Beginning Balance, Accumulated Depreciation	2,227,766	1,645,271	1,338,743
Retirement/dispositions
Ending Balance, Accumulated Depreciation	2,488,931	2,227,766	1,645,271
Real estate acquired
Additions during the period
Total Property	0	(54,024)	(9,780,070)
Retirement/dispositions
TOTAL PROPERTY	(1,700,470)	(800,958)	(1,098,702)
Ending Balance, Total Property	11,542,865
Additions during the period
ACCUMULATED DEPRECIATION	0	2,322	241,285
Retirement/dispositions
Accumulated Depreciation	(287,995)	(87,896)	(140,696)
Ending Balance, Accumulated Depreciation	2,488,931
Other improvements
Additions during the period
Total Property	(53,748)	(28,521)	(219,783)
Additions during the period
ACCUMULATED DEPRECIATION	549,160	668,069	205,703
Land held for development
Additions during the period
Total Property	0		(49,416)
Additions during the period
ACCUMULATED DEPRECIATION	0	0	0
Construction in progress
Additions during the period
Total Property	(69,598)	(49,901)	(31,586)
Retirement/dispositions
Ending Balance, Total Property	31,978
Additions during the period
ACCUMULATED DEPRECIATION	0	0	0
Retirement/dispositions
Ending Balance, Accumulated Depreciation	0
Investment in financing receivables, net
Additions during the period
Total Property	(1,541)		(66,509)
Total Property Reclassified		2,366
Additions during the period
ACCUMULATED DEPRECIATION	0	0	0
Financing lease right-of-use assets
Additions during the period
Total Property		(1,616)	(52,249)
Total Property Reclassified	4,865
Retirement/dispositions
Ending Balance, Total Property	77,343
Additions during the period
ACCUMULATED DEPRECIATION	0	0	0
Retirement/dispositions
Ending Balance, Accumulated Depreciation	0
Corporate Properties
Additions during the period
Total Property	0	0	(3,640)
Additions during the period
ACCUMULATED DEPRECIATION	$ 0	$ 0	$ 236

Schedule IV - Mortgage Loans _2

Schedule IV - Mortgage Loans on Real Estate Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Face Amount	141,979,000
Carrying Amount	127,624,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	38,591,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance as of the beginning of the year	173,614,000	$ 99,643,000	$ 0
Additions:
Fair value real estate notes assumed	0	0	74,819,000
New real estate notes	9,630,000	58,700,000	23,325,000
Draws on existing real estate notes	5,505,000	19,103,000
Capitalized interest	0	0	1,499,000
Accretion of fees and other items	3,600,000	1,364,000	0
Deductions:
Collection of real estate loans	(5,162,000)	0	0
Deferred fees and other items	0	0	0
Allowance for credit loss	(59,563,000)	(5,196,000)	0
Balance as of the end of the year	$ 127,624,000	$ 173,614,000	$ 99,643,000
Texas | Mortgage Loan Real Estate, Maturing in December 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	7%
Prior Liens	$ 0
Face Amount	31,150,000
Carrying Amount	14,900,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 31,150,000
Texas | Mortgage Loan Real Estate, Maturing in October 2029
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	7.50%
Prior Liens	$ 0
Face Amount	9,629,000
Carrying Amount	9,689,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Texas | Mezzanine Loan Real Estate, Maturing in October 2029
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	11%
Prior Liens	$ 0
Face Amount	1,000
Carrying Amount	1,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
North Carolina | Mortgage Loan Real Estate, Maturing in December 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	8%
Prior Liens	$ 0
Face Amount	6,000,000
Carrying Amount	7,441,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 7,441,000
Florida | Mortgage Loan Real Estate, Maturing in February 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	6%
Prior Liens	$ 0
Face Amount	37,661,000
Carrying Amount	37,832,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Construction loan, maximum	$ 65,000,000
Florida | Medical Real Estate, Maturing in December 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	9%
Prior Liens	$ 0
Face Amount	6,538,000
Carrying Amount	6,538,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Monthly installment payments of principal and interest amount	$ 152,069
California | Mortgage Loan Real Estate, Maturing in March 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	6%
Prior Liens	$ 0
Face Amount	45,000,000
Carrying Amount	45,185,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Arizona | Medical Real Estate, Maturing in December 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest rate	9%
Prior Liens	$ 0
Face Amount	6,000,000
Carrying Amount	6,038,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0