Healthpeak Properties (DOC) 10-K11 Feb 142013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Billions, except Share data, unless otherwise specified	Dec. 31, 2013	Jan. 31, 2014	Jun. 30, 2013
Document and Entity Information	'	'	'
Entity Registrant Name	'HCP, INC.	'	'
Entity Central Index Key	'0000765880	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Public Float	'	'	$18.20
Entity Common Stock, Shares Outstanding	'	457,169,700	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012
Real estate:	'		'
Buildings and improvements	$10,544,110		$10,448,752
Development costs and construction in progress	225,869		236,859
Land	1,822,862		1,838,613
Accumulated depreciation and amortization	-1,965,592		-1,694,892
Net real estate	10,627,249		10,829,332
Net investment in direct financing leases	7,153,399		6,881,393
Loans receivable, net	366,001		276,030
Investments in and advances to unconsolidated joint ventures	196,576		212,213
Accounts receivable, net of allowance of $1,529 and $1,668, respectively	27,494		34,150
Cash and cash equivalents	300,556		247,673
Restricted cash	37,229		37,848
Intangible assets, net	489,842		551,737
Real estate and intangible assets held for sale, net	9,819		56,659
Other assets, net	867,705		788,520
Total assets	20,075,870	[1]	19,915,555	[1]
LIABILITIES AND EQUITY	'		'
Term loan	226,858		222,694
Senior unsecured notes	6,963,375		6,712,624
Mortgage debt	1,396,485		1,665,210
Mortgage debt and intangible liabilities on assets held for sale, net	'		13,063
Other debt	74,909		81,958
Intangible liabilities, net	98,810		104,180
Accounts payable and accrued liabilities	318,427		293,994
Deferred revenue	65,872		68,055
Total liabilities	9,144,736	[2]	9,161,778	[2]
Commitments and contingencies	'		'
Common stock, $1.00 par value: 750,000,000 shares authorized; 456,960,648 and 453,191,321 shares issued and outstanding, respectively	456,961		453,191
Additional paid-in capital	11,334,041		11,180,066
Cumulative dividends in excess of earnings	-1,053,215		-1,067,367
Accumulated other comprehensive loss	-14,487		-14,653
Total stockholders' equity	10,723,300		10,551,237
Joint venture partners	23,729		14,752
Non-managing member unitholders	184,105		187,788
Total noncontrolling interests	207,834		202,540
Total equity	10,931,134		10,753,777
Total liabilities and equity	$20,075,870		$19,915,555

[1]	The Company's consolidated total assets at December 31, 2013 and 2012 include assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. At December 31, 2013: other assets, net, $1 million. At December 31, 2012: accounts receivable, net, $2 million; cash and cash equivalents, $10 million; and other assets, net, $2 million. See Note 21 for additional details.
[2]	The Company's consolidated total liabilities at December 31, 2013 and 2012 include liabilities of certain VIEs for which the VIE creditors do not have recourse to HCP, Inc. At December 31, 2013: accounts payable and accrued liabilities, $9 million. At December 31, 2012: other debt, $0.2 million; accounts payable and accrued liabilities, $14 million; and deferred revenue, $2 million. See Note 21 for additional details.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Accounts receivable, net	$27,494	$34,150
Cash and cash equivalents	300,556	247,673
Other assets, net	867,705	788,520
Other debt	74,909	81,958
Accounts payable and accrued liabilities	318,427	293,994
Deferred revenue	65,872	68,055
Accounts receivable, allowance (in dollars)	1,529	1,668
Common stock, par value (in dollars per share)	$1	$1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	456,960,648	453,191,321
Common stock, shares outstanding	456,960,648	453,191,321
VIEs	'	'
Accounts receivable, net	'	2,000
Cash and cash equivalents	'	10,000
Other assets, net	1,000	2,000
Other debt	'	200
Accounts payable and accrued liabilities	9,000	14,000
Deferred revenue	'	$2,000

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:	'	'	'
Rental and related revenues	$1,128,054	$997,767	$986,432
Tenant recoveries	100,649	94,626	92,254
Resident fees and services	146,288	139,073	49,091
Income from direct financing leases	636,881	622,073	464,704
Interest income	86,159	24,536	99,864
Investment management fee income	1,847	1,895	2,073
Total revenues	2,099,878	1,879,970	1,694,418
Costs and expenses:	'	'	'
Interest expense	435,252	416,172	415,455
Depreciation and amortization	423,312	353,704	346,055
Operating	298,282	280,716	218,701
General and administrative	109,233	79,395	96,059
Litigation provision	'	'	125,000
Impairments	'	7,878	15,400
Total costs and expenses	1,266,079	1,137,865	1,216,670
Other income, net	18,216	2,976	12,933
Income before income taxes and equity income from unconsolidated joint ventures	852,015	745,081	490,681
Income taxes	-5,815	1,654	-1,301
Equity income from unconsolidated joint ventures	64,433	54,455	46,750
Income from continuing operations	910,633	801,190	536,130
Discontinued operations:	'	'	'
Income before impairment losses and gain on sales of real estate, net of income taxes	5,879	14,198	15,257
Impairment losses on real estate	-1,372	'	'
Gain on sales of real estate, net of income taxes	69,866	31,454	3,107
Total discontinued operations	74,373	45,652	18,364
Net income	985,006	846,842	554,494
Noncontrolling interests' share in earnings	-14,169	-14,302	-15,603
Net income attributable to HCP, Inc.	970,837	832,540	538,891
Preferred stock dividends	'	-17,006	-21,130
Participating securities' share in earnings	-1,734	-3,245	-2,459
Net income applicable to common shares	$969,103	$812,289	$515,302
Basic earnings per common share:	'	'	'
Continuing operations (in dollars per share)	$1.97	$1.80	$1.25
Discontinued operations (in dollars per share)	$0.16	$0.10	$0.04
Net income applicable to common shares (in dollars per share)	$2.13	$1.90	$1.29
Diluted earnings per common share:	'	'	'
Continuing operations (in dollars per share)	$1.97	$1.80	$1.25
Discontinued operations (in dollars per share)	$0.16	$0.10	$0.04
Net income applicable to common shares (in dollars per share)	$2.13	$1.90	$1.29
Weighted average shares used to calculate earnings per common share:	'	'	'
Basic (in shares)	455,002	427,047	398,446
Diluted (in shares)	455,702	428,316	400,218

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	'	'	'
Net income	$985,006	$846,842	$554,494
Change in net unrealized gains (losses) on securities:	'	'	'
Unrealized gains (losses)	1,355	7,776	-5,396
Reclassification adjustment realized in net income	-9,131	'	5,396
Change in net unrealized gains (losses) on cash flow hedges:	'	'	'
Unrealized gains (losses)	6,435	-3,127	-4,367
Reclassification adjustment realized in net income	1,220	387	-1,033
Change in Supplemental Executive Retirement Plan obligation	240	-356	-495
Foreign currency translation adjustment	47	249	-450
Total other comprehensive income (loss)	166	4,929	-6,345
Total comprehensive income	985,172	851,771	548,149
Total comprehensive income attributable to noncontrolling interests	-14,169	-14,302	-15,603
Total comprehensive income attributable to HCP, Inc.	$971,003	$837,469	$532,546

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Total Stockholders' Equity	Preferred Stock	Common Stock	Additional Paid-In Capital	Cumulative Dividends In Excess Of Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
In Thousands, unless otherwise specified	Total	Total Stockholders' Equity	Preferred Stock	Common Stock	Additional Paid-In Capital	Cumulative Dividends In Excess Of Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance at Dec. 31, 2010	$8,146,047	$7,957,367	$285,173	$370,925	$8,089,982	($775,476)	($13,237)	$188,680
Balance (in shares) at Dec. 31, 2010	'	'	11,820	370,925	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Net income	554,494	538,891	'	'	'	538,891	'	15,603
Other comprehensive income (losses)	-6,345	-6,345	'	'	'	'	-6,345	'
Issuance of common stock, net	1,302,008	1,305,464	'	36,683	1,268,781	'	'	-3,456
Issuance of common stock, net (in shares)	'	'	'	36,683	'	'	'	'
Repurchase of common stock	-4,991	-4,991	'	-136	-4,855	'	'	'
Repurchase of common stock (in shares)	'	'	'	-136	'	'	'	'
Exercise of stock options	30,796	30,796	'	1,157	29,639	'	'	'
Exercise of stock options (in shares)	'	'	'	1,157	'	'	'	'
Amortization of deferred compensation	20,034	20,034	'	'	20,034	'	'	'
Preferred dividends	-21,130	-21,130	'	'	'	-21,130	'	'
Common dividends ($2.10, $2.00 and $1.92 per share for the year ended 2013, 2012 and 2011, respectively)	-766,559	-766,559	'	'	'	-766,559	'	'
Distributions to noncontrolling interests	-15,156	'	'	'	'	'	'	-15,156
Noncontrolling interests in acquisitions	1,500	'	'	'	'	'	'	1,500
Issuance of noncontrolling interests	14,028	'	'	'	'	'	'	14,028
Purchase of noncontrolling interests	-34,104	-20,045	'	'	-20,045	'	'	-14,059
Balance at Dec. 31, 2011	9,220,622	9,033,482	285,173	408,629	9,383,536	-1,024,274	-19,582	187,140
Balance (in shares) at Dec. 31, 2011	'	'	11,820	408,629	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Net income	846,842	832,540	'	'	'	832,540	'	14,302
Other comprehensive income (losses)	4,929	4,929	'	'	'	'	4,929	'
Preferred stock redemption	-295,500	-295,500	-285,173	'	'	-10,327	'	'
Preferred stock redemption (in shares)	'	'	-11,820	'	'	'	'	'
Issuance of common stock, net	1,756,796	1,781,825	'	42,468	1,739,357	'	'	-25,029
Issuance of common stock, net (in shares)	'	'	'	42,468	'	'	'	'
Repurchase of common stock	-15,632	-15,632	'	-361	-15,271	'	'	'
Repurchase of common stock (in shares)	'	'	'	-361	'	'	'	'
Exercise of stock options	51,622	51,622	'	2,455	49,167	'	'	'
Exercise of stock options (in shares)	2,455	'	'	2,455	'	'	'	'
Amortization of deferred compensation	23,277	23,277	'	'	23,277	'	'	'
Preferred dividends	-6,679	-6,679	'	'	'	-6,679	'	'
Common dividends ($2.10, $2.00 and $1.92 per share for the year ended 2013, 2012 and 2011, respectively)	-858,627	-858,627	'	'	'	-858,627	'	'
Distributions to noncontrolling interests	-15,631	'	'	'	'	'	'	-15,631
Noncontrolling interests in acquisitions	42,734	'	'	'	'	'	'	42,734
Issuance of noncontrolling interests	1,584	'	'	'	'	'	'	1,584
Purchase of noncontrolling interests	-2,560	'	'	'	'	'	'	-2,560
Balance at Dec. 31, 2012	10,753,777	10,551,237	'	453,191	11,180,066	-1,067,367	-14,653	202,540
Balance (in shares) at Dec. 31, 2012	'	'	'	453,191	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Net income	985,006	970,837	'	'	'	970,837	'	14,169
Other comprehensive income (losses)	166	166	'	'	'	'	166	'
Issuance of common stock, net	107,018	110,701	'	3,136	107,565	'	'	-3,683
Issuance of common stock, net (in shares)	'	'	'	3,136	'	'	'	'
Repurchase of common stock	-10,438	-10,438	'	-242	-10,196	'	'	'
Repurchase of common stock (in shares)	'	'	'	-242	'	'	'	'
Exercise of stock options	17,502	17,502	'	876	16,626	'	'	'
Exercise of stock options (in shares)	876	'	'	876	'	'	'	'
Amortization of deferred compensation	39,980	39,980	'	'	39,980	'	'	'
Common dividends ($2.10, $2.00 and $1.92 per share for the year ended 2013, 2012 and 2011, respectively)	-956,685	-956,685	'	'	'	-956,685	'	'
Distributions to noncontrolling interests	-17,664	'	'	'	'	'	'	-17,664
Issuance of noncontrolling interests	12,472	'	'	'	'	'	'	12,472
Balance at Dec. 31, 2013	$10,931,134	$10,723,300	'	$456,961	$11,334,041	($1,053,215)	($14,487)	$207,834
Balance (in shares) at Dec. 31, 2013	'	'	'	456,961	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	0 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	Jan. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED STATEMENTS OF EQUITY	'	'	'	'
Common dividends, per share (in dollars per share)	$0.55	$2.10	$2	$1.92

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:	'	'	'
Net income	$985,006	$846,842	$554,494
Depreciation and amortization of real estate, in-place lease and other intangibles:	'	'	'
Continuing operations	423,312	353,704	346,055
Discontinued operations	5,862	12,808	11,340
Amortization of above and below market lease intangibles, net	-6,646	-2,232	-4,510
Amortization of deferred compensation	39,980	23,277	20,034
Amortization of deferred financing costs, net	18,541	16,501	25,769
Straight-line rents	-39,587	-47,311	-59,173
Loan and direct financing lease interest accretion	-86,314	-95,444	-93,003
Deferred rental revenues	-2,843	-1,655	-2,319
Equity income from unconsolidated joint ventures	-64,433	-54,455	-46,750
Distributions of earnings from unconsolidated joint ventures	3,989	3,384	3,273
Gain upon consolidation of joint venture	'	'	-7,769
Marketable securities (gains) losses, net	-11,350	'	5,396
Gain upon settlement of loans receivable	'	'	-22,812
Gain on sales of real estate	-69,866	-31,454	-3,107
Foreign currency and derivative (gains) losses, net	533	43	-1,226
Impairments	1,372	7,878	15,400
Changes in:	'	'	'
Accounts receivable, net	6,656	-7,469	2,590
Other assets	-58,290	-3,814	27,582
Accounts payable and other accrued liabilities	3,065	14,267	-47,103
Net cash provided by operating activities	1,148,987	1,034,870	724,161
Cash flows from investing activities:	'	'	'
Other acquisitions of real estate	-64,678	-186,478	-113,324
Cash used in the senior housing portfolio acquisition	'	-1,701,410	'
Cash used in the HCR ManorCare Acquisition, net of cash acquired	'	'	-4,026,556
Cash used in the HCP Ventures II purchase, net of cash acquired	'	'	-135,550
Development of real estate	-130,317	-133,596	-85,061
Leasing costs and tenant and capital improvements	-64,557	-61,440	-52,903
Proceeds from sales of real estate, net	95,816	150,943	19,183
Purchase of an interest in and contributions to unconsolidated joint ventures	'	'	-95,000
Distributions in excess of earnings from unconsolidated joint ventures	14,102	2,915	2,408
Purchases of marketable securities	-16,706	-214,859	-22,449
Proceeds from sales of marketable securities	28,403	'	'
Principal repayments on loans receivable	263,445	45,046	303,941
Investments in loans receivable	-322,775	-218,978	-369,939
(Increase) decrease in restricted cash	619	3,705	-5,234
Net cash used in investing activities	-196,648	-2,314,152	-4,580,484
Cash flows from financing activities:	'	'	'
Net borrowings (repayments) under bank line of credit	'	-454,000	454,000
Borrowings under term loan	'	214,789	'
Issuance of senior unsecured notes	800,000	1,550,000	2,400,000
Repayments of senior unsecured notes	-550,000	-250,000	-292,265
Repayments of mortgage and other secured debt	-302,119	-155,565	-169,783
Issuance of mortgage and other debt	6,798	'	'
Deferred financing costs	-7,300	-27,565	-43,716
Preferred stock redemption	'	-295,500	'
Net proceeds from the issuance of common stock and exercise of options	114,082	1,792,786	1,327,813
Dividends paid on common and preferred stock	-956,685	-865,306	-787,689
Issuance of noncontrolling interests	12,472	1,584	14,028
Purchase of noncontrolling interests	'	-2,143	-34,104
Distributions to noncontrolling interests	-17,664	-15,631	-15,156
Net cash provided by (used in) financing activities	-900,416	1,493,449	2,853,128
Effect of foreign exchange on cash and cash equivalents	960	'	'
Net increase (decrease) in cash and cash equivalents	52,883	214,167	-1,003,195
Cash and cash equivalents, beginning of year	247,673	33,506	1,036,701
Cash and cash equivalents, end of year	$300,556	$247,673	$33,506

Business

Business	12 Months Ended
Business	Dec. 31, 2013
Business	'
Business	'

	(1) Business

	HCP, Inc., an S&P 500 company, is a Maryland corporation that is organized to qualify as a real estate investment trust ("REIT") which, together with its consolidated entities (collectively, "HCP" or the "Company"), invests primarily in real estate serving the healthcare industry in the United States. The Company acquires, develops, leases, manages and disposes of healthcare real estate and provides financing to healthcare providers.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'

	(2) Summary of Significant Accounting Policies

	Use of Estimates

	Management is required to make estimates and assumptions in the preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP"). These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from management's estimates.

	Principles of Consolidation

	The consolidated financial statements include the accounts of HCP, its wholly-owned subsidiaries and joint ventures or variable interest entities that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation.

	The Company is required to continually evaluate its VIE relationships and consolidate these entities when it is determined to be the primary beneficiary of their operations. A VIE is broadly defined as an entity where either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity's economic performance or (ii) the equity investment at risk is insufficient to finance that entity's activities without additional subordinated financial support.

	A variable interest holder is considered to be the primary beneficiary of a VIE if it has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors includes, but is not limited to, the Company's ability to direct the activities that most significantly impact the VIE's economic performance, its form of ownership interest, its representation on the VIE's governing body, the size and seniority of its investment, its ability and the rights of other investors to participate in policy making decisions and its ability to replace the manager of and/or liquidate the entity.

	For its investments in joint ventures, the Company evaluates the type of ownership rights held by the limited partner(s) that may preclude consolidation in circumstances in which the sole general partner would otherwise consolidate the limited partnership. The assessment of limited partners' rights and their impact on the presumption of control over a limited partnership by the sole general partner should be made when an investor becomes the sole general partner and should be reassessed if (i) there is a change to the terms or in the exercisability of the rights of the limited partners, (ii) the sole general partner increases or decreases its ownership in the limited partnership interests, or (iii) there is an increase or decrease in the number of outstanding limited partnership interests. The Company similarly evaluates the rights of managing members of limited liability companies.

	Revenue Recognition

	At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses its terms and conditions to determine the proper lease classification. A lease arrangement is classified as an operating lease if none of the following criteria are met: (i) transfer of ownership to the lessee, (ii) lessee has a bargain purchase option during or at the end of the lease term, (iii) the lease term is equal to 75% or more of the underlying property's economic life, or (iv) the future minimum lease payments (excluding executory costs) are equal to 90% or more of the excess estimated fair value (over retained tax credits) of the leased building. If one of the four criteria is met and the minimum lease payments are determined to be reasonably predicable and collectible, the lease arrangement is generally accounted for as a direct financing lease.

	The Company recognizes rental revenue for operating lease arrangements when the tenant has taken possession or controls the physical use of a leased asset. If a lease arrangement provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance that is funded by the Company is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Ownership of tenant improvements is determined based on various factors including, but not limited to, the following criteria:



	•
	lease stipulations of how and on what a tenant improvement allowance may be spent;

	•
	which party to the arrangement retains legal title to the tenant improvements upon lease expiration;

	•
	whether the tenant improvements are unique to the tenant or general purpose in nature; and

	•
	if the tenant improvements are expected to have significant residual value at the end of the lease term.

	Certain leases provide for additional rents that are contingent upon a percentage of the facility's revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the base amount or other thresholds, and only after any contingency has been removed (when the related thresholds are achieved). This may result in the recognition of rental revenue in periods subsequent to when such payments are received.

	Tenant recoveries subject to operating leases related to the reimbursement of real estate taxes, insurance, repairs and maintenance and other operating expenses are recognized as revenue in the period the expenses are incurred. The reimbursements are recognized and presented gross, as the Company is generally the primary obligor and, with respect to purchasing goods and services from third party suppliers, has discretion in selecting the supplier and bears the associated credit risk.

	For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight-line basis over the lease term when collectibility is reasonably assured. Recognizing rental income on a straight-line basis for leases results in recognized revenue amounts which differ from those that are contractually due from tenants. If the Company determines that collectibility of straight-line rents is not reasonably assured, future revenue recognition is limited to amounts contractually owed and paid, and, when appropriate, an allowance for estimated losses is established.

	Resident fee revenue is recorded when services are rendered and includes resident room and care charges, community fees and other resident charges. Residency agreements are generally for a term of 30 days to one year, with resident fees billed monthly. Revenue for certain care related services is recognized as services are provided and is billed monthly in arrears.

	The Company maintains an allowance for doubtful accounts, including an allowance for operating lease straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of its tenants and operators on a continuous basis. This evaluation considers industry and economic conditions, property performance, credit enhancements and other factors. For operating lease straight-line rent amounts, the Company's assessment is based on amounts estimated to be recoverable over the term of the lease.

	The Company utilizes the direct finance method of accounting to record income from direct financing leases ("DFLs"). For leases accounted for as DFLs, the net investment in the DFL represents receivables for the sum of minimum lease payments receivable and the estimated residual values of the leased properties, less the unearned income. Unearned income is deferred and amortized to income over the lease terms to provide a constant yield when collectibility of the lease payments is reasonably assured.

	Loans receivable are classified as held-for-investment based on management's intent and ability to hold the loans for the foreseeable future or to maturity. Loans held-for-investment are carried at amortized cost and are reduced by a valuation allowance for estimated credit losses as necessary. The Company recognizes interest income on loans, including the amortization of discounts and premiums, using the interest method. The interest method is applied on a loan-by-loan basis when collectibility of the future payments is reasonably assured. Premiums and discounts are recognized as yield adjustments over the term of the related loans. Loans are transferred from held-for-investment to held-for-sale when management's intent is to no longer hold the loans for the foreseeable future. Loans held-for-sale are recorded at the lower of cost or fair value.

	Allowances are established for loans and DFLs based upon an estimate of probable losses on an individual basis if they are determined to be impaired. Loans and DFLs are impaired when it is deemed probable that the Company will be unable to collect all amounts due in accordance with the contractual terms of the loan or lease. An allowance is based upon the Company's assessment of the borrower's or lessee's overall financial condition, economic resources, payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including the expected future cash flows discounted at the loan's or DFL's effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience and other relevant factors, as appropriate.

	Loans and DFLs are placed on non-accrual status when management determines that the collectibility of contractual amounts is not reasonably assured. While on non-accrual status, loans and DFLs are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, were cash receipts reduce the carrying value of the loan or DFL, based on the Company's expectation of future collectibility.

	The Company recognizes gain on sales of real estate upon the closing of a transaction with the purchaser. Gains on properties sold are recognized using the full accrual method when the collectibility of the sales price is reasonably assured, the Company is not obligated to perform additional activities that may be considered significant, the initial investment from the buyer is sufficient and other profit recognition criteria have been satisfied. Gain on sales of real estate may be deferred in whole or in part until the requirements for gain recognition have been met.

	The Company receives management fees from its investments in certain joint venture entities for various services it provides as the managing member. Management fees are recorded as revenue when management services have been performed. Intercompany profit for management fees is eliminated.

	Real Estate

	The Company's real estate assets, consisting of land, buildings and improvements are recorded at their then fair value at the time of acquisition and/or consolidation. The assumed liabilities, acquired tangible assets and identifiable intangibles are also recorded at their then fair value. The Company assesses fair value based on cash flow projections that utilize appropriate discount and/or capitalization rates and other available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, as well as market and economic conditions. The fair value of tangible assets of an acquired property is based on the value of the property as if it is vacant. Transaction costs related to acquisitions of businesses, including properties, are expensed as incurred.

The Company records acquired "above and below market" leases at their fair value using discount rates which reflect the risks associated with the leases acquired. The amount recorded is based on the present value of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management's estimate of fair market lease rates for each in-place lease, measured over a period equal to the remaining term of the lease for above market leases and the initial term plus the extended term for any leases with bargain renewal options. Other intangible assets acquired include amounts for in-place lease values that are based on the Company's evaluation of the specific characteristics of each property and the respective tenant's lease. Factors considered include estimates of carrying costs during hypothetical expected lease-up periods, market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes estimates of lost rents at estimated market rates during the hypothetical expected lease-up periods, which are dependent on local market conditions and expected trends. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related costs.

The Company capitalizes direct construction and development costs, including predevelopment costs, interest, property taxes, insurance and other costs directly related and essential to the acquisition, development or construction of a real estate asset. The Company capitalizes construction and development costs while substantive activities are ongoing to prepare an asset for its intended use. The Company considers a construction project as substantially complete and held available for occupancy upon the completion of company owned tenant improvements, but no later than one year from cessation of significant construction activity. Costs incurred after a project is substantially complete and ready for its intended use, or after development activities have ceased, are expensed as incurred. For redevelopment of existing operating properties, the Company capitalizes costs based on the net carrying value of the existing property under redevelopment plus the cost for the construction and improvement incurred in connection with the redevelopment. Costs previously capitalized related to abandoned acquisitions or developments are charged to earnings. Expenditures for repairs and maintenance are expensed as incurred. The Company considers costs incurred in conjunction with re-leasing properties, including tenant improvements and lease commissions, to represent the acquisition of productive assets and, accordingly, such costs are reflected as investing activities in the Company's consolidated statement of cash flows.

The Company computes depreciation on properties using the straight-line method over the assets' estimated useful life. Depreciation is discontinued when a property is identified as held-for-sale. Buildings and improvements are depreciated over useful lives ranging up to 50 years. Above and below market lease intangibles are amortized primarily to revenue over the remaining noncancellable lease terms and bargain renewal periods, if any. In-place lease intangibles are amortized to expense over the remaining noncancellable lease term and bargain renewal periods, if any.

Impairment of Long-Lived Assets and Goodwill

The Company assesses the carrying value of real estate assets and related intangibles ("real estate assets") when events or changes in circumstances indicate that the carrying value may not be recoverable. The Company tests its real estate assets for impairment by comparing the sum of the expected future undiscounted cash flows to the carrying value of the real estate assets. The estimated future undiscounted cash flows are calculated utilizing the lowest level of identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. If the carrying value exceeds the expected future undiscounted cash flows, an impairment loss will be recognized to the extent that the carrying value of the real estate assets is greater than its fair value.

Goodwill is tested for impairment at least annually based on certain qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Potential impairment indicators and qualitative factors include a significant decline in real estate valuations, restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in the value of the Company's market capitalization. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compares the fair value of a reporting unit with its carrying amount, including goodwill and, if necessary, (ii) compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill as if it had been acquired in a business combination at the date of the impairment test. The excess fair value of the reporting unit over the fair value of assets and liabilities is the implied value of goodwill and is used to determine the amount of impairment, if any. The Company selected the fourth quarter of each fiscal year to perform its annual impairment test.

Assets Held-for-Sale and Discontinued Operations

Certain long-lived assets are classified as held-for-sale and are reported at the lower of their carrying value or their fair value less costs to sell and are no longer depreciated. Discontinued operations is a component of an entity that has either been disposed of or is deemed to be held-for-sale and, (i) the operations and cash flows of the component have been or will be eliminated from ongoing operations as a result of the disposal transaction, and (ii) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction.

Investments in Unconsolidated Joint Ventures

Investments in entities which the Company does not consolidate but has the ability to exercise significant influence over operating and financial policies are reported under the equity method of accounting. Under the equity method of accounting, the Company's share of the investee's earnings or losses are included in the Company's consolidated results of operations.

The initial carrying value of investments in unconsolidated joint ventures is based on the amount paid to purchase the joint venture interest or the fair value of the assets prior to the sale of interests in the joint venture. To the extent that the Company's cost basis is different from the basis reflected at the joint venture level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company's share of equity in earnings of the joint venture. The Company evaluates its equity method investments for impairment based upon a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in the fair value of an investment in an unconsolidated joint venture below its carrying value is other-than-temporary, an impairment is recorded. The Company recognizes gains on the sale of interests in joint ventures to the extent the economic substance of the transaction is a sale.

The Company's fair values for its equity method investments are based on discounted cash flow models that include all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums or discounts. Capitalization rates, discount rates and credit spreads utilized in these models are based upon assumptions that the Company believes to be within a reasonable range of current market rates for the respective investments.

Share-Based Compensation

Compensation expense for share-based awards granted to employees, including grants of employee stock options, are recognized in the consolidated statements of income based on their grant date fair market value. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand and short-term investments with maturities of three months or less when purchased.

Restricted Cash

Restricted cash primarily consists of amounts held by mortgage lenders to provide for (i) real estate tax expenditures, tenant improvements and capital expenditures, and (ii) security deposits and net proceeds from property sales that were executed as tax-deferred dispositions.

Derivatives

During its normal course of business, the Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transaction or transactions, must be, and are expected to remain, probable of occurring in accordance with the Company's related assertions.

The Company recognizes all derivative instruments, including embedded derivatives required to be bifurcated, as assets or liabilities in the consolidated balance sheets at their fair value. Changes in the fair value of derivative instruments that are not designated as hedges or that do not meet the criteria of hedge accounting are recognized in earnings. 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), whereas the change in fair value of the ineffective portion is recognized in earnings.

The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific forecasted transactions as well as recognized obligations or assets in the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives that are designated in hedging transactions are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying forecasted transaction will not occur, the Company discontinues hedge accounting prospectively and records the appropriate adjustment to earnings based on the current fair value of the derivative.

Income Taxes

HCP, Inc. elected REIT status and believes it has always operated so as to continue to qualify as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the "Code"). Accordingly, HCP, Inc. will not be subject to U.S. federal income tax, provided that it continues to qualify as a REIT and makes distributions to stockholders equal to or in excess of its taxable income. In addition, the Company has formed several consolidated subsidiaries, which have elected REIT status. HCP, Inc. and its consolidated REIT subsidiaries are each subject to the REIT qualification requirements under Sections 856 to 860 of the Code. If any REIT fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may be ineligible to qualify as a REIT for four subsequent tax years.

HCP, Inc. and its consolidated REIT subsidiaries are subject to state and local income taxes in some jurisdictions, and in certain circumstances each REIT may also be subject to federal excise taxes on undistributed income. In addition, certain activities that the Company undertakes may be conducted by entities which elect to be treated as taxable REIT subsidiaries ("TRSs"). TRSs are subject to both federal and state income taxes. The Company recognizes tax penalties relating to unrecognized tax benefits as additional income tax expense. Interest relating to unrecognized tax benefits is recognized as interest expense.

Marketable Securities

The Company classifies its marketable equity securities as available-for-sale. These securities are carried at their fair value with unrealized gains and losses recognized in stockholders' equity as a component of accumulated other comprehensive income (loss). Gains or losses on securities sold are determined based on the specific identification method. When the Company determines declines in fair value of marketable securities are other-than-temporary, a loss is recognized in earnings.

The Company classifies its marketable debt securities as held-to-maturity, because the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are recorded at amortized cost and adjusted for the amortization of premiums and discounts through maturity.

Capital Raising Issuance Costs

Costs incurred in connection with the issuance of common shares are recorded as a reduction of additional paid-in capital. Costs incurred in connection with the issuance of preferred shares are recorded as a reduction of the preferred stock amount. Debt issuance costs are deferred, included in other assets and amortized to interest expense over the remaining term of the related debt utilizing the interest method.

Segment Reporting

The Company's segments are based on its internal method of reporting which classifies operations by healthcare sector. The Company's business operations include five segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital.

Noncontrolling Interests

The Company reports arrangements with noncontrolling interests as a component of equity separate from the parent's equity. The Company accounts for purchases or sales of equity interests that do not result in a change in control as equity transactions. In addition, net income attributable to the noncontrolling interest is included in consolidated net income on the face of the consolidated statements of income and, upon a gain or loss of control, the interest purchased or sold, as well as any interest retained, is recorded at its fair value with any gain or loss recognized in earnings.

The Company consolidates non-managing member limited liability companies ("DownREITs") because it exercises control, and noncontrolling interests in these entities are carried at cost. The non-managing member LLC Units ("DownREIT units") are exchangeable for an amount of cash approximating the then-current market value of shares of the Company's common stock or, at the Company's option, shares of the Company's common stock (subject to certain adjustments, such as stock splits and reclassifications). Upon exchange of DownREIT units for the Company's common stock, the carrying amount of the DownREIT units is reclassified to stockholders' equity.

Foreign Currency Translation and Transactions

Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains or losses resulting from translation are included in accumulated other comprehensive income, a component of stockholders' equity on the consolidated balance sheets. Gains or losses resulting from foreign currency transactions are translated into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of transaction gains or losses are included in other income, net in the consolidated statements of income.

Preferred Stock Redemptions

The Company recognizes the excess of the redemption value of cumulative redeemable preferred stock redeemed over its carrying amount as a charge to earnings.

Life Care Bonds Payable

Certain of the Company's continuing care retirement communities ("CCRCs") issue non-interest bearing life care bonds payable to certain residents of the CCRCs. Generally, the bonds are refundable to the resident or to the resident's estate upon termination or cancellation of the CCRC agreement or upon the successful resale of the unit. Proceeds from the issuance of new bonds are used to retire existing bonds, and since the maturity of the obligations for the facilities is not determinable, no interest is imputed. These amounts are included in other debt in the Company's consolidated balance sheets.

Fair Value Measurement

The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on 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 areunobservable.

The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third party source to determine fair value and classifies such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies the asset or liability in Level 2.

If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and/or market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow and Black-Scholes valuation models. The Company also considers its counterparty's and own credit risk on derivatives and other liabilities measured at their fair value. The Company has elected the mid-market pricing expedient when determining fair value.

Earnings per Share

Basic earnings per common share is computed by dividing net income applicable to common shares by the weighted average number of shares of common stock outstanding during the period. The Company accounts for unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities, which are included in the computation of earnings per share pursuant to the two-class method. Diluted earnings per common share is calculated by including the effect of dilutive and preferred securities.

Recent Accounting Pronouncements

In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force) ("ASU 2013-10"). This update permits the Fed Funds Effective Swap Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate ("LIBOR"). The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 on July 17, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02"). This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The adoption of ASU 2013-02 on January 1, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

In July 2012, the FASB issued Accounting Standards Update No. 2012-01, Continuing Care Retirement Communities—Refundable Advance Fees ("ASU 2012-01"). This update clarifies the situations in which recognition of deferred revenue for refundable advance fees is appropriate. The adoption of ASU 2012-01 on January 1, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

Reclassifications

Certain amounts in the Company's consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. Assets sold or held-for-sale and associated liabilities have been reclassified on the consolidated balance sheets and operating results reclassified from continuing to discontinued operations.

HCR_ManorCare_Acquisition

HCR ManorCare Acquisition	12 Months Ended
HCR ManorCare Acquisition	Dec. 31, 2013
HCR ManorCare Acquisition	'
HCR ManorCare Acquisition	'

	(3) HCR ManorCare Acquisition

	On April 7, 2011, the Company completed its acquisition of substantially all of the real estate assets of HCR ManorCare, Inc. ("HCR ManorCare"), for a purchase price of $6.0 billion (the "HCR ManorCare Acquisition"). The purchase price consisted of the following: (i) $4 billion in cash consideration; and (ii) $2 billion representing the fair value of the Company's HCR ManorCare debt investments that were settled as part of this acquisition. Through this transaction, the Company acquired 334 HCR ManorCare post-acute, skilled nursing and assisted living facilities. The facilities are located in 30 states, with the highest concentrations in Ohio, Pennsylvania, Florida, Illinois and Michigan. A wholly-owned subsidiary of HCR ManorCare operates the assets pursuant to a long-term triple-net master lease agreement supported by a guaranty from HCR ManorCare. Additionally, the Company exercised its option to purchase an ownership interest of HCR ManorCare for $95 million that represented a 9.9% equity interest at closing.

	The HCR ManorCare Acquisition total purchase price was as follows (in thousands):


	Payment of aggregate cash consideration, net of cash acquired		$	3,801,624
	HCP's loan investments in HCR ManorCare's debt settled at fair value⁽¹⁾			1,990,406
	Assumed HCR ManorCare accrued liabilities at fair value⁽²⁾			224,932

	Total purchase consideration		$	6,016,962


	Legal, accounting and other fees and costs⁽³⁾		$	26,839




	-1
	The Company recognized a gain of approximately $23 million, included in interest income, which represents the fair value of the Company's existing mezzanine and mortgage loan investments in HCR ManorCare in excess of its carrying value on the acquisition date.

	-2
	In August 2011, the Company paid or refunded these amounts to certain taxing authorities or the seller. These August 2011 cash payments are included in the "cash used in the HCR ManorCare Acquisition, net of cash acquired" that is presented in the 2011 consolidated statement of cash flows under investing activities.

	-3
	Represents estimated fees and costs of $16 million and $11 million that were expensed and included in general and administrative expense and interest expense, respectively. These charges are directly attributable to the transaction and represent non-recurring costs.

	The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date of April 7, 2011 (in thousands):


	Assets acquired
	Net investments in direct financing leases		$	6,002,074
	Cash and cash equivalents			6,996
	Intangible assets			14,888

	Total assets acquired			6,023,958

	Total liabilities assumed			224,932

	Net assets acquired		$	5,799,026



	In connection with the HCR ManorCare Acquisition, the Company entered into a credit agreement for a 365-day bridge loan facility (from funding to maturity) in an aggregate amount of up to $3.3 billion. In March 2011, the Company terminated this bridge loan facility in accordance with its terms; consequently, the Company incurred a charge of $11 million related to the write-off of unamortized loan commitment fees that is included in interest expense.

	The assets and liabilities of the Company's investments related to HCR ManorCare and the related results of operations are included in the consolidated financial statements from the acquisition date. From the acquisition date to December 31, 2011, the Company recognized income of $412 million related to its HCR ManorCare DFLs and $45 million related to its share in earnings from its equity method investment in HCR ManorCare.

	Pro Forma Results of Operations

	The following unaudited pro forma consolidated results of operations for the year ended December 31, 2011 assume that the HCR ManorCare Acquisition, including the Company's ownership interest in the operations of HCR ManorCare, was completed as of January 1, 2010 (in thousands, except per share amounts):


	Revenues		$	1,803,199
	Net income			673,036
	Net income applicable to HCP, Inc.			657,433
	Basic earnings per common share		$	1.56
	Diluted earnings per common share			1.56

	The amounts above were restated in 2013; the previous pro forma presentation assumed that HCR ManorCare Acquisition was completed as of January 1, 2011 (in thousands, except per share amounts); the previously reported amounts, adjusted for discontinued operations, follows:


Revenues		$	1,789,677
Net income			659,514
Net income applicable to HCP, Inc.			643,911
Basic earnings per common share		$	1.53
Diluted earnings per common share			1.52

Other_Real_Estate_Property_Inv

Other Real Estate Property Investments	12 Months Ended
Other Real Estate Property Investments	Dec. 31, 2013
Other Real Estate Property Investments	'
Other Real Estate Property Investments	'

	(4) Other Real Estate Property Investments

	Senior Housing Portfolio Acquisition

	During the fourth quarter of 2012 and first quarter of 2013, the Company acquired 133 senior housing communities for $1.74 billion from a joint venture between Emeritus Corporation ("Emeritus") and Blackstone Real Estate Partners VI, an affiliate of the Blackstone Group (the "Blackstone JV"). Located in 29 states, the portfolio encompasses a diversified care mix of 61% assisted living, 25% independent living, 13% memory care and 1% skilled nursing based on units. Based on operating performance at closing, the 133 communities consisted of 99 that were stabilized and 34 that were in lease-up. The transaction closed in two stages: (i) 129 senior housing facilities during the fourth quarter of 2012 for $1.7 billion; and (ii) four senior housing facilities during the first quarter of 2013 for $38 million. The Company paid $1.73 billion in cash consideration and assumed $13 million of mortgage debt to acquire: (i) real estate with a fair value of $1.57 billion, (ii) intangible assets with a fair value of $174 million; and (iii) assumed intangible liabilities with a fair value of $4 million. The lease-up intangibles assets recognized were attributable to the value of the acquired underlying operating resident leases of the senior housing communities that were stabilized or nearly stabilized (e.g., resident occupancy above 80%).

	Emeritus operates the communities pursuant to two triple-net master leases for 128 properties (the "Master Lease") and five individual leases, all guaranteed by Emeritus (together, the "Leases"). The Leases provide aggregate contractual rent in the first year of $105.8 million. The contractual rent will increase annually by the greater of the percentage increase in the Consumer Price Index ("CPI") or 3.7% on average over the initial five years, and thereafter by the greater of CPI or 3.0% for the remaining initial lease term. At the beginning of the sixth lease year, rent on the 34 lease-up properties will increase to the greater of the percentage increase in CPI or fair market, subject to a floor of 103% and a cap of 130% of the prior year's rent. From the 2012 acquisition dates to December 31, 2012, the Company recognized revenues and income of $22 million and $14 million, respectively, related to its acquisitions of the 129 senior housing communities.

	The Master Lease properties are grouped into three pools that share comparable characteristics. The Leases have initial terms of 14 to 16 years. Emeritus has two extension options, which, if exercised, will provide for lease terms of 30 to 35 years.

	Concurrent with the acquisition in 2012, Emeritus purchased nine communities from the Blackstone JV, for which the Company provided secured debt financing of $52 million with a four-year term. The loan is secured by the underlying real estate and is prepayable at Emeritus' option. The interest rate on the loan was initially 6.1% and will gradually increase during its four year term to 6.8%.

	Pro Forma Results of Operations

	The following unaudited pro forma consolidated results of operations assume that the Blackstone JV Acquisition was completed as of January 1, 2011 (in thousands, except per share amounts):


		Year Ended December 31,
		2012		2011
	Revenues	$	1,966,303	$	1,798,018
	Net income		870,802		584,361
	Net income applicable to HCP, Inc.		856,500		568,758
	Basic earnings per common share	$	1.88	$	1.3
	Diluted earnings per common share		1.88		1.29

	Other Real Estate Acquisitions

	In addition to the Blackstone JV Acquisition (discussed above), during the year ended December 31, 2013, the Company acquired a senior housing facility for $18 million, exercised its purchase option for a senior housing facility it previously leased for $16 million and acquired 38 acres of land to be developed for use in the post-acute/skilled nursing segment for $0.4 million. During the year ended December 31, 2013, the Company incurred an aggregate of $173 million for construction, tenant and other capital improvement projects, primarily in the senior housing, life science and medical office segments.

	A summary of other real estate acquisitions for the year ended December 31, 2012 follows (in thousands):


		Consideration							Assets Acquired
	Acquisitions	Cash Paid		Debt and Other		Noncontrolling			Real Estate		Net
				Liabilities		Interest					Intangibles
				Assumed
	Senior housing	$	3,860	$	—	$	—		$	3,541	$	319
	Life science		7,964		—		86			7,580		470
	Medical office		171,654		60,597		42,648	-1		207,561		67,338
	Hospital		3,000		—		—			3,000		—

		$	186,478	$	60,597	$	42,734		$	221,682	$	68,127




	-1
	Represents non-managing member limited liability company units.

	During the year ended December 31, 2012, the Company incurred an aggregate of $183 million for construction, tenant and other capital improvement projects, primarily in the senior housing, life science and medical office segments.

Dispositions_of_Real_Estate_an

Dispositions of Real Estate and Discontinued Operations	12 Months Ended
Dispositions of Real Estate and Discontinued Operations	Dec. 31, 2013
Dispositions of Real Estate and Discontinued Operations	'
Dispositions of Real Estate and Discontinued Operations	'

	(5) Dispositions of Real Estate and Discontinued Operations

	During the year ended December 31, 2013, the Company sold the following: (i) eight post-acute/skilled nursing facilities for $68 million, (ii) two senior housing facilities for $22 million and (iii) two medical office buildings for $6 million. In addition, in September 2013, the Company sold a 62-bed hospital located in Greenfield, Wisconsin in exchange for a 60-bed hospital located in Webster, Texas and recognized a gain of $8 million based on the fair value of the hospital acquired in excess of the carrying value of the hospital sold. During the year ended December 31, 2012, the Company sold the following: (i) two senior housing facilities for $111 million, (ii) a skilled nursing facility for $15 million, (iii) a medical office building for $7 million and (iv) a parcel of land in the life science segment for $18 million.

	At December 31, 2013, one hospital and two post-acute/skilled nursing facilities were classified as held for sale, with a carrying value of $10 million. At December 31, 2012, properties classified as held for sale included 12 senior housing facilities, two hospitals and two medical office buildings with a combined aggregate carrying value of $56 million.

	The following table summarizes income from discontinued operations, impairments and gain on sales of real estate included in discontinued operations (dollars in thousands):


		Year Ended December 31,
		2013		2012		2011
	Rental and related revenues	$	16,649	$	33,777	$	32,555

	Depreciation and amortization expenses		5,862		12,808		11,340
	Operating expenses		3,929		3,304		1,472
	Other expense, net		979		3,467		4,486

	Income before impairments and gain on sales of real estate, net of income taxes	$	5,879	$	14,198	$	15,257


	Impairments	$	1,372	$	—	$	—


	Gain on sales of real estate, net of income taxes	$	69,866	$	31,454	$	3,107


	Number of properties included in discontinued operations		16		20		23

Net_Investment_in_Direct_Finan

Net Investment in Direct Financing Leases	12 Months Ended
Net Investment in Direct Financing Leases	Dec. 31, 2013
Net Investment in Direct Financing Leases	'
Net Investment in Direct Financing Leases	'

	(6) Net Investment in Direct Financing Leases

	The components of net investment in DFLs consisted of the following (dollars in thousands):


		December 31,
		2013			2012
	Minimum lease payments receivable⁽¹⁾	$	24,808,386		$	25,217,520
	Estimated residual values		4,134,405			4,010,514
	Less unearned income		(21,789,392	)		(22,346,641	)

	Net investment in direct financing leases	$	7,153,399		$	6,881,393


	Properties subject to direct financing leases		364			361




	-1
	The minimum lease payments receivable are primarily attributable to HCR ManorCare, Inc. ("HCR ManorCare") ($23.5 billion and $24.0 billion at December 31, 2013 and 2012, respectively). The triple-net master lease with HCR ManorCare provides for annual rent of $506 million beginning April 1, 2013 (prior to April 1, 2013, annual rent was $489 million). The rent increases by 3.5% per year over the next three years and by 3% for the remaining portion of the initial lease term. The properties are grouped into four pools, and HCR ManorCare has a one-time extension option for each pool with rent increased for the first year of the extension option to the greater of fair market rent or a 3% increase over the rent for the prior year. Including the extension options, which the Company determined to be bargain renewal options, the four leased pools had total initial available terms ranging from 23 to 35 years.

	On November 21, 2013, the Company reached an agreement with Tenet Healthcare Corporation to modify and extend three acute care hospital leases. The leases were extended at current rent levels and contain annual CPI-based escalators under staggered terms from three to eight years with purchase options exercisable for a fixed price at the end of each term. As a result of these lease modifications, the Company reassessed the classification of the leases and accounted for the lease agreements as DFLs.

	During the quarter ended September 30, 2013, the Company placed a 14-property senior housing DFL (the "DFL Portfolio") on non-accrual status. Based on the Company's determination that the collection of all rental payments is no longer reasonably assured, rental revenue for the DFL Portfolio will be recognized on a cash basis. Furthermore, the Company assessed the DFL Portfolio for impairment. The Company determined that the DFL Portfolio was not impaired at September 30, 2013, based on its belief that: (i) it is not probable that it will not collect all of the rental payments under the terms of the lease; and (ii) the fair value of the underlying collateral exceeds the DFL Portfolio's $376 million carrying amount. The fair value of the DFL Portfolio was estimated based on a discounted cash flow model, the inputs to which are considered to be a Level 3 measurement within the fair value hierarchy. Inputs to this valuation model include real estate capitalization rates, industry growth rates and operating margins, some of which influence the Company's expectation of future cash flows from the DFL Portfolio and, accordingly, the fair value of its investment. During the year ended December 31, 2013, 2012 and 2011, the Company recognized DFL income of $24.4 million, $27.8 million and $27.5 million, respectively, and received cash payments of $24.0 million, $23.8 million and $21.9 million, respectively, from the DFL Portfolio.

	On April 7, 2011, the Company completed the acquisition of 334 HCR ManorCare properties subject to a single master lease that the Company classified as a DFL. See discussion of the HCR ManorCare Acquisition in Note 3.

	Certain leases contain provisions that allow the tenants to elect to purchase the properties during or at the end of the lease terms for the aggregate initial investment amount plus adjustments, if any, as defined in the lease agreements. Certain leases also permit the Company to require the tenants to purchase the properties at the end of the lease terms.

	Future minimum lease payments contractually due under DFLs at December 31, 2013, were as follows (in thousands):


	Year	Amount
	2014	$	594,270
	2015		606,618
	2016		626,713
	2017		638,775
	2018		656,263
	Thereafter		21,685,747

		$	24,808,386

Loans_Receivable

Loans Receivable	12 Months Ended
Loans Receivable	Dec. 31, 2013
Loans Receivable	'
Loans Receivable	'

	(7) Loans Receivable

	The following table summarizes the Company's loans receivable (in thousands):


		December 31,
		2013									2012
		Real Estate			Other			Total			Real Estate		Other			Total
		Secured			Secured			Total			Secured		Secured			Total
	Mezzanine	$	—		$	234,455		$	234,455		$	—	$	145,150		$	145,150
	Other		147,669			—			147,669			147,264		—			147,264
	Unamortized discounts, fees and costs		—			(2,713	)		(2,713	)		—		(2,974	)		(2,974	)
	Allowance for loan losses		—			(13,410	)		(13,410	)		—		(13,410	)		(13,410	)

		$	147,669		$	218,332		$	366,001		$	147,264	$	128,766		$	276,030



	Real Estate Secured Loans

	Following is a summary of loans receivable secured by real estate at December 31, 2013:


	Final	Number			Payment Terms		Principal			Carrying
	Maturity	of					Amount			Amount
	Date	Loans
							(in thousands)
	2016		4	-1	aggregate monthly interest-only payments of $0.5 million, accrues interest at 8.5% and secured by four senior housing facilities located in Tennessee, Maryland, Pennsylvania and Texas			70,615			77,094
	2016		1		monthly interest-only payments of $0.2 million, accrues interest at 6.4%, and secured by five senior housing facilities located in Arizona, Minnesota and Texas			30,220			30,220
	2017		2	-1	aggregate monthly interest-only payments of $0.2 million, accrues interest at 8.25%, and secured by two senior housing facilities in New Jersey and Pennsylvania			33,045			34,395
	2018		1	-1	monthly interest-only payments of $37,000, accrues interest at 8.00% and secured by a senior housing facility located in Pennsylvania			5,799			5,960

			8				$	139,679		$	147,669




	-1
	Represents commitments to fund an aggregate of $141 million for seven senior housing development projects.

	At December 31, 2013, future contractual principal payments to be received on loans receivable secured by real estate are $101 million in 2016, $33 million in 2017 and $6 million in 2018.

	Other Secured Loans

	Barchester Loan. On May 2, 2013, the Company acquired £121 million ($188 million) of subordinated debt at a discount for £109 million ($170 million). The loan was secured by an interest in 160 facilities leased and operated by Barchester Healthcare ("Barchester"). On August 23, 2013, the Company acquired an additional investment in this loan of £9 million ($14 million) at a discount for £5 million ($8 million). This loan accrued interest on its face value at a floating rate of LIBOR plus a weighted-average margin of 3.14%. This loan investment was financed by a GBP denominated draw on the Company's revolving line of credit facility that is discussed in Note 11. On September 6, 2013, the Company received £129 million ($202 million) from the par payoff of its Barchester debt investments; as a result, the Company recognized interest income of $24 million representing primarily the debt investment's unamortized discounts. A portion of the proceeds from the Barchester repayment were used to repay the total outstanding amount of the Company's GBP denominated draw on its revolving line of credit facility.

	Tandem Health Care Loan. On July 31, 2012, the Company closed a mezzanine loan facility to lend up to $205 million to Tandem Health Care ("Tandem"), as part of the recapitalization of a post-acute/skilled nursing portfolio. At closing, this loan was subordinate to $400 million in senior mortgage debt and $137 million in other senior mezzanine debt. The Company funded $100 million (the "First Tranche") at closing and funded an additional $102 million (the "Second Tranche") in June 2013. The Second Tranche was used to by Tandem repay the senior mezzanine debt. At December 31, 2013, the loans were subordinate to $443 million of senior mortgage debt. The loans bear interest at fixed rates of 12% and 14% per annum for the First and Second Tranches, respectively. This loan facility has a total term of up to 63 months from the First Tranche closing, is prepayable at the borrower's option and is secured by real estate partnership interests. The loans are subject to a prepayment premiums if repaid on or before the third anniversary from the First Tranche closing date.

	Delphis Operations, L.P. Loan. The Company holds a secured term loan made to Delphis Operations, L.P. ("Delphis" or the "Borrower") that is collateralized by all of the assets of the Borrower. The Borrower's collateral is comprised primarily of interests in partnerships operating surgical facilities, of which one partnership leases a property owned by the Company. In December 2009, the Company determined that the loan was impaired. Further, in January 2011 the Company placed the loan on cost-recovery status, whereby accrual of interest income was suspended, and any payments received from the Borrower are applied to reduce the recorded investment in the loan.

	As part of a March 2012 agreement (the "2012 Agreement") between Delphis, certain past and current principals of Delphis and the Cirrus Group, LLC (the "Guarantors"), and the Company, the Company agreed, among other things, to allow the distribution of $1.5 million to certain of the Guarantors from funds generated from sales of assets that were pledged as additional collateral for this loan. Further, the Company, as part of the 2012 Agreement, agreed to provide financial incentives to the Borrower regarding the liquidation of the primary collateral assets for this loan.

	Pursuant to the 2012 Agreement, the Company received the remaining cash ($4.8 million, after reducing this amount by $0.5 million for related legal expenses) and other consideration ($2.1 million) of $6.9 million from the Guarantors. In addition, during 2012, the Company received $38.1 million in net proceeds from the sales of two of the primary collateral assets, which proceeds, together with the cash payments and other consideration, were applied to reduce the carrying value of the loan. The carrying value of the loan, net of an allowance for loan losses of $13 million, was $18.1 million and $30.7 million at December 31, 2013 and 2012, respectively. At December 31, 2013, the Company believes the fair value of the collateral supporting this loan is in excess of its carrying value. During the years ended December 31, 2013, 2012 and 2011, the Company received cash payments of $12.6 million, $43 million and $2.1 million, respectively.

	HCR ManorCare Loans. In December 2007, the Company made a $900 million investment (at a discount of $100 million) in HCR ManorCare mezzanine loans, which paid interest at a floating rate of LIBOR plus 4.0%. Also, in August 2009 and January 2011, the Company purchased $720 million (at a discount of $130 million) and $360 million, respectively, in participations in HCR ManorCare first mortgage debt, which paid interest at LIBOR plus 1.25%.

	On April 7, 2011, upon closing of the HCR ManorCare Acquisition, the Company's $2.0 billion of loans to HCR ManorCare were settled, which resulted in additional interest income of $23 million, which represents the excess of the loans' fair values above their carrying values at the acquisition date. See Note 3 for additional discussion related to the HCR ManorCare Acquisition.

	Genesis HealthCare Loans. In September and October 2010, the Company purchased participations in a senior loan and mezzanine note of Genesis HealthCare ("Genesis") with par values of $278 million (at a discount of $28 million) and $50 million (at a discount of $10 million), respectively. The Genesis senior loan paid interest at LIBOR (subject to a floor of 1.5%, increasing to 2.5% by maturity) plus a spread of 4.75%, increasing to 5.75% by maturity. The senior loan was secured by all of Genesis' assets. The mezzanine note paid interest at LIBOR plus a spread of 7.50%. In addition to the coupon interest payments, the mezzanine note required the payment of a termination fee, of which the Company's share prior to the early repayment of this loan was $2.3 million.

	On April 1, 2011, the Company received $330.4 million from the early repayment of its loans to Genesis, and recognized additional interest income of $34.8 million, which represents the related unamortized discounts and termination fee.

Investments_in_and_Advances_to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2013
Investments in and Advances to Unconsolidated Joint Ventures	'
Investments in and Advances to Unconsolidated Joint Ventures	'

	(8) Investments in and Advances to Unconsolidated Joint Ventures

	HCP Ventures II

	On January 14, 2011, the Company acquired its partner's 65% interest in HCP Ventures II, a joint venture that owned 25 senior housing facilities, becoming the sole owner of the portfolio.

	The HCP Ventures II consideration was as follows (in thousands):


			January 14, 2011
	Cash paid for HCP Ventures II's partnership interest		$	135,550
	Fair value of HCP's 35% interest in HCP Ventures II (carrying value of $65,223 at closing)⁽¹⁾			72,992

	Total consideration		$	208,542


	Estimated fees and costs
	Legal, accounting, and other fees and costs⁽²⁾		$	150
	Debt assumption fees⁽³⁾			500

	Total		$	650




	-1
	At closing, the Company recognized a gain of approximately $8 million, included in other income, net, which represents the fair value of the Company's 35% interest in HCP Ventures II in excess of its carrying value as of the acquisition date.

	-2
	Represents estimated fees and costs that were expensed and included in general and administrative expenses.

	-3
	Represents debt assumption fees that were capitalized as deferred debt costs.

	In accordance with the accounting guidance applicable to acquisitions of the partner's ownership interests that result in consolidation of previously unconsolidated entities, the Company recorded all of the assets and liabilities of HCP Ventures II at their fair value as of the January 14, 2011 acquisition date. In estimating the fair values, relevant market data and valuation techniques were utilized and included, but were not limited to, market data comparables for capitalization and discount rates, credit spreads and property specific cash flows assumptions. The capitalization and discount rates as well as credit spread assumptions utilized in the Company's valuation model were based on information that it believes to be within a reasonable range of current market data.

	The following table summarizes the fair values of the HCP Ventures II assets acquired and liabilities assumed as of the acquisition date of January 14, 2011 (in thousands):


	Assets acquired
	Buildings and improvements		$	683,633
	Land			79,580
	Cash			2,585
	Restricted cash			1,861
	Intangible assets			78,293

	Total assets acquired		$	845,952


	Liabilities assumed
	Mortgage debt		$	635,182
	Other liabilities			2,228

	Total liabilities assumed			637,410

	Net assets acquired		$	208,542



	The related assets, liabilities and results of operations of HCP Ventures II are included in the consolidated financial statements from the date of acquisition, January 14, 2011.

	Summary of Unconsolidated Joint Venture Information

The Company owns interests in the following entities that are accounted for under the equity method at December 31, 2013 (dollars in thousands):


Entity⁽¹⁾		Segment		Investment⁽²⁾			Ownership%
HCR ManorCare		post-acute/skilled nursing operations		$	84,099			9.5
HCP Ventures III, LLC		medical office			7,147			30
HCP Ventures IV, LLC		medical office and hospital			29,715			20
HCP Life Science⁽³⁾		life science			68,843			50-63
Suburban Properties, LLC		medical office			6,403			67
Advances to unconsolidated joint ventures, net					369

				$	196,576


Edgewood Assisted Living Center, LLC		senior housing		$	(386	)		45
Seminole Shores Living Center, LLC		senior housing			(625	)		50

				$	(1,011	)




-1
These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. See Note 2 regarding the Company's accounting policies related to principles of consolidation.

-2
Represents the carrying value of the Company's investment in the unconsolidated joint venture. See Note 2 regarding the Company's accounting policy for joint venture interests. At December 31, 2013, includes a senior housing partnership for which the Company has a 72% ownership with an investment balance of zero.

-3
Includes three unconsolidated joint ventures between the Company and an institutional capital partner for which the Company is the managing member. HCP Life Science includes the following partnerships (and the Company's ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).

Summarized combined financial information for the Company's unconsolidated joint ventures follows (in thousands):


		December 31,
		2013			2012
Real estate, net		$	3,662,450		$	3,731,740
Goodwill and other assets, net			5,384,553			5,734,318

Total assets		$	9,047,003		$	9,466,058


Capital lease obligations and mortgage debt		$	6,768,815		$	6,875,932
Accounts payable			1,045,260			971,095
Other partners' capital			1,098,228			1,435,885
HCP's capital⁽¹⁾			134,700			183,146

Total liabilities and partners' capital		$	9,047,003		$	9,466,058




-1
The combined basis difference of the Company's investments in these joint ventures of $60 million, as of December 31, 2013, is primarily attributable to real estate, capital lease obligations, deferred tax assets, goodwill and lease-related net intangibles.


		Year Ended December 31,
		2013			2012			2011⁽¹⁾⁽²⁾
Total revenues		$	4,269,156		$	4,260,319		$	4,388,376
Net loss⁽³⁾			(362,379	)		(15,865	)		(827,306	)
HCP's share in earnings⁽³⁾⁽⁴⁾			64,433			54,455			46,750
Fees earned by HCP			1,847			1,895			2,073
Distributions received by HCP			18,091			6,299			5,681


-1
Includes the financial information of HCP Ventures II, up to the date in which it was consolidated on January 14, 2011.

-2
Beginning April 7, 2011, includes the financial information of HCR ManorCare, in which the Company acquired an interest for $95 million that represented a 9.9% equity interest at closing.

-3
The combined net loss for the year ended December 31, 2011 includes impairments, net of the related tax benefit, of $865 million related to HCR ManorCare's goodwill and intangible assets. The impairments at the operating entity were the result of reduced cash flows primarily caused by the reimbursement reductions for the Medicare skilled nursing facility Prospective Payment System announced by the Centers for Medicare & Medicaid Services effective October 1, 2011. The combined net loss for the year ended December 31, 2013 includes tax expense of $400 million related to recording of a valuation allowance which was necessary to reduce the carrying value of HCR ManorCare's deferred tax assets to an amount that is more likely than not to be realized as determined by HCR ManorCare's management. HCR ManorCare's goodwill, intangible assets and deferred tax assets were not previously considered in the Company's initial investments in the operations of HCR ManorCare; therefore, the related impairments and valuation allowance against the carrying value of the deferred tax assets did not impact the Company's recorded investment. As such, HCR ManorCare's impairments during the year ended December 31, 2011 and tax expense related to the valuation allowance during the year ended December 31, 2013 did not have an impact on the Company's share of earnings from or its investment in HCR ManorCare.

-4
The Company's joint venture interest in HCR ManorCare is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP's ownership in HCR ManorCare. As required to eliminate intercompany profit, the Company recharacterized $62.1 million, $59.4 million and $42.2 million of DFL income to the Company's share of earnings from HCR ManorCare (equity income) for the years ended December 31, 2013, 2012 and 2011, respectively.

Intangibles

Intangibles	12 Months Ended
Intangibles	Dec. 31, 2013
Intangibles	'
Intangibles	'

	(9) Intangibles

	The Company's intangible lease assets were (in thousands):


		December 31,
	Intangible lease assets	2013			2012
	Lease-up intangibles	$	578,143		$	580,319
	Above market tenant lease intangibles		144,355			153,141
	Below market ground lease intangibles		58,939			58,939

	Gross intangible lease assets		781,437			792,399
	Accumulated depreciation and amortization		(291,595	)		(240,662	)

	Net intangible lease assets	$	489,842		$	551,737



	The remaining weighted average amortization period of intangible assets was 15 years at both December 31, 2013 and 2012.

	The Company's intangible lease liabilities were (in thousands):


		December 31,
	Intangible lease liabilities	2013			2012
	Below market lease intangibles	$	201,234		$	188,534
	Above market ground lease intangibles		6,121			6,091

	Gross intangible lease liabilities		207,355			194,625
	Accumulated depreciation and amortization		(108,545	)		(90,445	)

	Net intangible lease liabilities	$	98,810		$	104,180



	The remaining weighted average amortization period of unfavorable market lease intangibles was approximately nine years at both December 31, 2013 and 2012.

	In 2013, the Company restated the above weighted average amortization periods of intangible assets and liabilities as of December 31, 2012, which were previously reported as 12 years and 8 years, respectively.

	For the years ended December 31, 2013, 2012 and 2011, rental income includes additional revenues of $9 million, $4 million and $6 million, respectively, from the amortization of net below market lease intangibles. For the years ended December 31, 2013, 2012 and 2011, operating expenses include additional expense of $0.8 million, $0.7 million and $0.6 million, respectively, from the amortization of net above market ground lease intangibles. For the years ended December 31, 2013, 2012 and 2011, depreciation and amortization expense includes additional expense of $59 million, $44 million and $45 million, respectively, from the amortization of lease-up and non-compete agreement intangibles.

	Estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter follows (in thousands):


		Intangible			Intangible
		Assets			Liabilities
	2014	$	69,556		$	16,728
	2015		65,639			16,171
	2016		61,395			15,643
	2017		53,847			13,674
	2018		41,791			11,290
	Thereafter		197,614			25,304

		$	489,842		$	98,810

Other_Assets

Other Assets	12 Months Ended
Other Assets	Dec. 31, 2013
Other Assets.	'
Other Assets	'

	(10) Other Assets

	The Company's other assets consisted of the following (in thousands):


		December 31,
		2013		2012
	Straight-line rent assets, net of allowance of $34,230 and $33,521, respectively	$	368,919	$	306,294
	Marketable debt securities⁽¹⁾		244,089		222,809
	Leasing costs, net		104,601		93,763
	Deferred financing costs, net		42,106		45,490
	Goodwill		50,346		50,346
	Marketable equity securities		—		24,829
	Other⁽²⁾		57,644		44,989

	Total other assets	$	867,705	$	788,520




	-1
	Includes £137.0 million of Four Seasons senior unsecured notes translated into U.S. dollars (see below for additional information).

	-2
	Includes a $5.4 million allowance for losses related to accrued interest receivable on the Delphis loan. At both December 31, 2013 and 2012, the net carrying value of interest accrued related to the Delphis loan was zero. See Note 7 for additional information about the Delphis loan and the related impairment. At both December 31, 2013 and 2012, includes a loan receivable of $10 million from HCP Ventures IV, LLC, an unconsolidated joint venture (see Note 8 for additional information) with an interest rate of 12% which matures in May 2014. The loan is secured by the Company's joint venture partner's 80% partnership interest in the joint venture.

	In June 2011, the Company purchased approximately $22 million of marketable equity securities that were classified as available-for-sale. At December 31, 2011, the Company incurred a $5 million impairment for these securities as it concluded the decrease in value of such securities below their carrying value was other-than-temporary. At December 31, 2012, the fair value and adjusted cost basis of the marketable equity securities were $25 million and $17 million, respectively. During the year ended December 31, 2013, the Company realized gains from the sale of marketable equity securities of $11 million, which were included in other income, net.

	Four Seasons Health Care Senior Unsecured Notes

	On June 28, 2012, the Company purchased senior unsecured notes with an aggregate par value of £138.5 million at a discount for £136.8 million ($214.9 million). The notes were issued by Elli Investments Limited, a subsidiary of Terra Firma, a European private equity firm, as part of its financing for the acquisition of Four Seasons Health Care ("Four Seasons"), an elderly and specialist care provider in the United Kingdom. The notes mature in June 2020 and are non-callable through June 2016. The notes bear interest on their par value at a fixed rate of 12.25% per annum, with an original issue discount resulting in a yield to maturity of 12.5%. This investment was financed by a GBP denominated unsecured term loan that is discussed in Note 11. These senior unsecured notes are accounted for as marketable debt securities and classified as held-to-maturity.

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2013
Debt	'
Debt	'

	(11) Debt

	Bank Line of Credit and Term Loan

	The Company's $1.5 billion unsecured revolving line of credit facility (the "Facility") matures in March 2016 and contains a one-year extension option. Borrowings under the Facility accrue interest at LIBOR plus a margin that depends on the Company's debt ratings. The Company pays a facility fee on the entire revolving commitment that depends upon its debt ratings. Based on the Company's debt ratings at December 31, 2013, the margin on the Facility was 1.075%, and the facility fee was 0.175%. The Facility also includes a feature that will allow the Company to increase the borrowing capacity by an aggregate amount of up to $500 million, subject to securing additional commitments from existing lenders or new lending institutions. At December 31, 2013, the Company had no balance outstanding under this Facility.

	On July 30, 2012, the Company entered into a credit agreement with a syndicate of banks for a £137 million ($227 million at December 31, 2013) four-year unsecured term loan (the "Term Loan") that accrues interest at a rate of GBP LIBOR plus 1.20%, based on the Company's current debt ratings. Concurrent with the closing of the Term Loan, the Company entered into a four-year interest rate swap contract that fixes the interest rate of the Term Loan at 1.81%, subject to adjustments based on the Company's debt ratings. The Term Loan contains a one-year committed extension option.

	The Facility and Term Loan contain certain financial restrictions and other customary requirements, including cross-default provisions to other indebtedness. Among other things, these covenants, using terms defined in the agreements, (i) limit the ratio of Consolidated Total Indebtedness to Consolidated Total Asset Value to 60%, (ii) limit the ratio of Secured Debt to Consolidated Total Asset Value to 30%, (iii) limit the ratio of Unsecured Debt to Consolidated Unencumbered Asset Value to 60%, (iv) require a minimum Fixed Charge Coverage ratio of 1.5 times and (v) require a formula-determined Minimum Consolidated Tangible Net Worth of $9.2 billion at December 31, 2013. At December 31, 2013, the Company was in compliance with each of these restrictions and requirements of the Facility and Term Loan.

	Senior Unsecured Notes

	At December 31, 2013, the Company had senior unsecured notes outstanding with an aggregate principal balance of $7.0 billion. At December 31, 2013, interest rates on the notes ranged from 1.21% to 6.98% with a weighted average effective rate of 4.97% and a weighted average maturity of six years. Discounts and premiums are amortized to interest expense over the term of the related senior unsecured notes. The senior unsecured notes contain certain covenants including limitations on debt, cross-acceleration provisions and other customary terms. As of December 31, 2013, the Company believes it was in compliance with these covenants.

	On December 16, 2013, the Company repaid $400 million of maturing senior unsecured notes, which accrued interest at a rate of 5.65%. The senior unsecured notes were repaid with a portion of the proceeds from the Company's November 2013 bond offering.

	On November 12, 2013, the Company issued $800 million of 4.25% senior unsecured notes due in 2023. The notes were priced at 99.540% of the principal amount with an effective yield to maturity of 4.307%; net proceeds from this offering were $789 million.

	On February 28, 2013, the Company repaid $150 million of maturing 5.625% senior unsecured notes.

	On November 19, 2012, the Company issued $800 million of 2.625% senior unsecured notes due in 2020. The notes were priced at 99.729% of the principal amount with an effective yield to maturity of 2.667%. Net proceeds from this offering were $793 million.

	On July 23, 2012, the Company issued $300 million of 3.15% senior unsecured notes due in 2022. The notes were priced at 98.888% of the principal amount with an effective yield to maturity of 3.28%; net proceeds from the offering were $294 million.

	On June 25, 2012, the Company repaid $250 million of maturing senior unsecured notes, which accrued interest at a rate of 6.45%. The senior unsecured notes were repaid with proceeds from the Company's June 2012 common stock offering.

	On January 23, 2012, the Company issued $450 million of 3.75% senior unsecured notes due in 2019. The notes were priced at 99.523% of the principal amount with an effective yield to maturity of 3.83%; net proceeds from the offering were $444 million.

	The following is a summary of senior unsecured notes outstanding by maturity date at December 31, 2013 (dollars in thousands):


	Maturity		Principal			Weighted
			Amount			Average
						Interest
						Rate
	2014		$	487,000			3.21	%
	2015			400,000			6.57
	2016			900,000			5.1
	2017			750,000			6.03
	2018			600,000			6.83
	2019			450,000			3.96
	2020			800,000			2.79
	2021			1,200,000			5.6
	2022			300,000			3.39
	2023			800,000			4.41
	2041			300,000			6.88

				6,987,000
	Discounts, net			(23,625	)

			$	6,963,375



	Mortgage Debt

	At December 31, 2013, the Company had $1.4 billion in aggregate principal amount of mortgage debt outstanding that is secured by 126 healthcare facilities (including redevelopment properties) that had a carrying value of $1.8 billion. At December 31, 2013, interest rates on the mortgage debt range from 0.69% to 8.69% with a weighted average effective interest rate of 6.19% and a weighted average maturity of three years.

	The following is a summary of mortgage debt outstanding by maturity date at December 31, 2013 (dollars in thousands):


	Maturity		Amount			Weighted
Average
Interest
Rate
2014			$	179,525			5.8	%
2015				308,421			5.96
2016				291,738			6.89
2017			550,477			6.2
2018			6,583			5.9
Thereafter			65,242			5.09

			1,401,986
Discounts, net			(5,501	)

		$	1,396,485



Mortgage debt generally requires monthly principal and interest payments, is collateralized by real estate assets and is generally non-recourse. Mortgage debt typically restricts transfer of the encumbered assets, prohibits additional liens, restricts prepayment, requires payment of real estate taxes, requires maintenance of the assets in good condition, requires maintenance of insurance on the assets and includes conditions to obtain lender consent to enter into or terminate material leases. Some of the mortgage debt is also cross-collateralized by multiple assets and may require tenants or operators to maintain compliance with the applicable leases or operating agreements of such real estate assets.

Other Debt

At December 31, 2013, the Company had $75 million of non-interest bearing life care bonds at two of its continuing care retirement communities and non-interest bearing occupancy fee deposits at two of its senior housing facilities, all of which were payable to certain residents of the facilities (collectively, "Life Care Bonds"). The Life Care Bonds are generally refundable to the residents upon the termination of the contract or upon the successful resale of the unit.

Debt Maturities

The following table summarizes the Company's stated debt maturities and scheduled principal repayments at December 31, 2013 (in thousands):


Year		Term Loan⁽¹⁾			Senior			Mortgage			Total⁽²⁾
					Unsecured			Debt
					Notes
2014		$	—		$	487,000		$	179,525		$	666,525
2015			—			400,000			308,421			708,421
2016			226,858			900,000			291,738			1,418,596
2017			—			750,000			550,477			1,300,477
2018			—			600,000			6,583			606,583
Thereafter			—			3,850,000			65,242			3,915,242

			226,858			6,987,000			1,401,986			8,615,844
Discounts, net			—			(23,625	)		(5,501	)		(29,126	)

		$	226,858		$	6,963,375		$	1,396,485		$	8,586,718




-1
Represents £137 million translated into U.S. dollars as of December 31, 2013.

-2
Excludes $75 million of other debt that represents Life Care Bonds, which have no scheduled maturities.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2013
Commitments and Contingencies.	'
Commitments and Contingencies	'

	(12) Commitments and Contingencies

	Legal Proceedings

	From time to time, the Company is a party to legal proceedings, lawsuits and other claims that arise in the ordinary course of the Company's business. Except as described in this Note 12, the Company is not aware of any other legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company's business, prospects, financial condition, results of operations or cash flows. The Company's policy is to accrue legal expenses as they are incurred.

	On May 3, 2007, Ventas, Inc. ("Ventas") filed a complaint against the Company in the United States District Court for the Western District of Kentucky alleging, among other things, that the Company interfered with Ventas's prospective business advantage in connection with Ventas's 2007 acquisition of Sunrise Senior Living Real Estate Investment Trust ("Sunrise REIT"). Ventas sought compensatory damages in excess of $300 million plus punitive damages. Prior to the jury deliberations, the District Court dismissed, among other rulings, Ventas's claim for punitive damages. On September 4, 2009, the jury returned a verdict in favor of Ventas in the amount of approximately $102 million. The Company recognized $102 million as a provision for litigation expense during the three months ended September 30, 2009. Both Ventas and the Company appealed various rulings of the District Court and the jury verdict to the United States Sixth Circuit Court of Appeals. On May 17, 2011, the Sixth Circuit Court of Appeals held that the District Court erred by not submitting Ventas's claim for punitive damages to the jury, and affirmed the District Court's judgment in all other respects. On August 23, 2011, the Company paid Ventas $102 million resulting from the jury verdict. On November 9, 2011, the Company and Ventas settled all claims relating to the litigation and the Company paid $125 million to Ventas in addition to the $102 million paid in August 2011.

	Concentration of Credit Risk

	Concentrations of credit risks arise when one or more operators, tenants or obligors related to the Company's investments are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. The Company regularly monitors various segments of its portfolio to assess potential concentrations of risks. The Company does not have significant foreign operations.

	The following table provides information regarding the Company's concentrations with respect to certain operators and tenants; the information provided is presented for the gross assets and revenues that are associated with certain operators and tenants as percentages of the respective segment's and total Company's assets and revenues:

	Segment Concentrations:


			Percentage of					Percentage of
			Senior Housing Gross Assets					Senior Housing Revenues
			December 31,					Year Ended December 31,
	Operators		2013			2012		2013		2012		2011
	Emeritus Corporation ("Emeritus")⁽¹⁾			37			37		35		23		24
	Sunrise⁽²⁾			17			18		13		16		19
	HCR ManorCare⁽³⁾			11			11		10		11		10
	Brookdale Senior Living ("Brookdale")⁽⁴⁾			11			11		12		14		22





			Percentage of Post-Acute/					Percentage of Post-Acute/
			Skilled Nursing Gross Assets					Skilled Nursing Revenues
			December 31,					Year Ended December 31,
	Operators		2013			2012		2013		2012		2011
	HCR ManorCare⁽³⁾			89			90		83		91		85

	Total Company Concentrations:


			Percentage of					Percentage of
			Total Company Assets					Total Company Revenues
			December 31,					Year Ended December 31,
	Operators		2013			2012		2013		2012		2011
	HCR ManorCare⁽³⁾			32			31		28		30		28
	Emeritus⁽¹⁾			14			14		13		8		7
	Sunrise⁽²⁾			7			7		5		5		6
	Brookdale⁽⁴⁾			4			4		4		5		7


	-1
	Percentage of total revenues from Emeritus for the year ended December 31, 2012 includes partial results for the Blackstone JV acquisition. Assuming that full-year results were included for this acquisition in the Company's 2012 revenues, the percentage of segment revenues and total revenues would be 37% and 12%, respectively.

	-2
	Certain of the Company's properties are leased to tenants who have entered into management contracts with Sunrise to operate the respective property on their behalf. The Company's concentration of gross assets includes properties directly leased to Sunrise and properties that are managed by Sunrise on behalf of third party tenants.

	-3
	On April 7, 2011, the Company completed the acquisition of HCR ManorCare's real estate assets, which included the settlement of the Company's HCR ManorCare debt investments, see Notes 3 and 7 for additional information.

	-4
	Percentages do not include senior housing facilities that Brookdale operates on the Company's behalf under a RIDEA structure.

	On September 1, 2011, the Company completed a strategic venture with Brookdale that includes the operation of 37 Company-owned senior living communities previously leased to or operated by Horizon Bay Retirement Living ("Horizon Bay"). As part of this transaction, Brookdale acquired Horizon Bay and: (i) assumed an existing triple-net lease for nine HCP communities; (ii) entered into a new triple-net lease related to four HCP communities; (iii) assumed Horizon Bay's management of three HCP communities, one of which was recently developed by HCP; and (iv) entered into management contracts and a joint venture agreement for a 10% interest in the real estate and operations for 21 of the Company's communities in a RIDEA structure. In connection with these transactions, the Company purchased approximately one million shares of Brookdale's common stock in June 2011 (see Note 10 for additional information regarding these marketable equity securities).

To mitigate credit risk of leasing properties to certain senior housing and post-acute/skilled nursing operators, leases with operators are often combined into portfolios that contain cross-default terms, so that if a tenant of any of the properties in a portfolio defaults on its obligations under its lease, the Company may pursue its remedies under the lease with respect to any of the properties in the portfolio. Certain portfolios also contain terms whereby the net operating profits of the properties are combined for the purpose of securing the funding of rental payments due under each lease.

At December 31, 2013 and 2012, the Company's gross real estate assets in the state of California, excluding assets held-for-sale, represented approximately 23% and 21% of the Company's total assets, respectively. For the year ended December 31, 2013, the Company's revenues derived from properties located in the states of California, Texas and Florida represented approximately 21%, 11% and 9% of the Company's total revenues, respectively.

DownREIT LLCs

In connection with the formation of certain DownREIT limited liability companies ("LLCs"), members may contribute appreciated real estate to a DownREIT LLC in exchange for DownREIT units. These contributions are generally tax-deferred, so that the pre-contribution gain related to the property is not taxed to the member. However, if a contributed property is later sold by the DownREIT LLC, the unamortized pre-contribution gain that exists at the date of sale is specifically allocated and taxed to the contributing members. In many of the DownREITs, the Company has entered into indemnification agreements with those members who contributed appreciated property into the DownREIT LLC. Under these indemnification agreements, if any of the appreciated real estate contributed by the members is sold by the DownREIT LLC in a taxable transaction within a specified number of years, the Company will reimburse the affected members for the federal and state income taxes associated with the pre-contribution gain that is specially allocated to the affected member under the Code ("make-whole payments"). These make-whole payments include a tax gross-up provision. These indemnification agreements have expiration terms that range through 2033.

Credit Enhancement Guarantee

Certain of the Company's senior housing facilities serve as collateral for $112 million of debt (maturing May 1, 2025) that is owed by a previous owner of the facilities. This indebtedness is guaranteed by the previous owner who has an investment grade credit rating. These senior housing facilities, which are classified as DFLs, had a carrying value of $374 million as of December 31, 2013.

Environmental Costs

The Company monitors its properties for the presence of hazardous or toxic substances. The Company is not aware of any environmental liability with respect to the properties that would have a material adverse effect on the Company's business, financial condition or results of operations. The Company carries environmental insurance and believes that the policy terms, conditions, limitations and deductibles are adequate and appropriate under the circumstances, given the relative risk of loss, the cost of such coverage and current industry practice.

General Uninsured Losses

The Company obtains various types of insurance to mitigate the impact of property, business interruption, liability, flood, windstorm, earthquake, environmental and terrorism related losses. The Company attempts to obtain appropriate policy terms, conditions, limits and deductibles considering the relative risk of loss, the cost of such coverage and current industry practice. There are, however, certain types of extraordinary losses, such as those due to acts of war or other events that may be either uninsurable or not economically insurable. In addition, the Company has a large number of properties that are exposed to earthquake, flood and windstorm occurrences for which the related insurances carry high deductibles.

Tenant Purchase Options

Certain leases, including DFLs, contain purchase options whereby the tenant may elect to acquire the underlying real estate. Annualized base rent from leases subject to purchase options, summarized by the year the purchase options are exercisable are as follows (dollars in thousands):


Year		Annualized			Number of
Year		Base Rent⁽¹⁾			Properties
2014		$	21,541			11
2015			55,397			35
2016			40,098			18
2017			6,969			3
2018			19,204			5
Thereafter			102,367			62

		$	245,576			134




-1
Represents the most recent month's base rent including additional rent floors and cash income from direct financing leases annualized for 12 months. Base rent does not include tenant recoveries, additional rents in excess of floors and non-cash revenue adjustments (i.e., straight-line rents, amortization of above and below market lease intangibles, DFL interest accretion and deferred revenues).

Rental Expense

The Company's rental expense attributable to continuing operations for the years ended December 31, 2013, 2012 and 2011 was approximately $8 million, $7 million and $6 million, respectively. These rental expense amounts include ground rent and other leases. Ground leases generally require fixed annual rent payments and may also include escalation clauses and renewal options. These leases have terms that are up to 99 years, excluding extension options. Future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2013 were as follows (in thousands):


Year		Amount
2014		$	6,303
2015			5,781
2016			4,620
2017			3,880
2018			3,659
Thereafter			195,883

		$	220,126

Equity

Equity	12 Months Ended
Equity	Dec. 31, 2013
Equity	'
Equity	'

	(13) Equity

	Common Stock

	On January 30, 2014, the Company announced that its Board declared a quarterly cash dividend of $0.545 per share. The common stock cash dividend will be paid on February 25, 2014 to stockholders of record as of the close of business on February 10, 2014.

	On October 19, 2012, the Company completed a public offering of 22 million shares of common stock and received net proceeds of $979 million, which were primarily used to acquire the 129 senior housing communities from the Blackstone JV.

	In June 2012, the Company completed a $376 million offering of 8.97 million shares of common stock at a price of $41.88 per share, which were primarily used to repay $250 million of maturing senior unsecured notes, which accrued interest at a rate of 6.45%.

	In March 2012, the Company completed a $359 million offering of 9.0 million shares of common stock at a price of $39.93 per share, which were primarily used to redeem all outstanding shares of the Company's preferred stock.

	In March 2011, the Company completed a $1.273 billion public offering of 34.5 million shares of common stock at a price of $36.90 per share. The Company received total net proceeds of $1.235 billion, which were primarily used to finance part of the aggregate purchase price of the HCR ManorCare Acquisition. The following is a summary of the Company's other issuances of common stock:


		Year Ended
		December 31,
		2013			2012			2011
		(shares
		in thousands)
	Dividend Reinvestment and Stock Purchase Plan		2,441			1,064			1,910
	Conversion of DownREIT units		100			736			80
	Exercise of stock options		876			2,455			1,157
	Vesting of restricted stock units⁽¹⁾		471			707			228


	-1
	Issued under the Company's 2006 Performance Incentive Plan, as amended and restated.

	Preferred Stock

	On April 23, 2012, the Company redeemed all of its outstanding preferred stock consisting of 4,000,000 shares of its 7.25% Series E preferred stock and the 7,820,000 shares of its 7.10% Series F preferred stock. The shares of Series E and Series F preferred stock were redeemed at a price of $25 per share, or $295.5 million in aggregate, plus all accrued and unpaid dividends to the redemption date. As a result of the redemption, the Company incurred a charge of $10.4 million related to the original issuance costs of the preferred stock (this charge is presented as an additional preferred stock dividend in the Company's consolidated statements of income).

	Accumulated Other Comprehensive Loss

	The following is a summary of the Company's accumulated other comprehensive loss (in thousands):


		December 31,
		2013			2012
	Unrealized gains on available for sale securities	$	—		$	7,776
	Unrealized losses on cash flow hedges, net		(10,797	)		(18,452	)
	Supplemental Executive Retirement Plan minimum liability		(2,910	)		(3,150	)
	Cumulative foreign currency translation adjustment		(780	)		(827	)

	Total accumulated other comprehensive loss	$	(14,487	)	$	(14,653	)



	Noncontrolling Interests

	At December 31, 2013, there were 4 million non-managing member units (6 million shares of HCP common stock are issuable upon conversion) outstanding in four DownREIT LLCs, in all of which the Company is the managing member. At December 31, 2013, the carrying and market values of the 4 million DownREIT units were $184 million and $217 million, respectively.

Segment_Disclosures

Segment Disclosures	12 Months Ended
Segment Disclosures	Dec. 31, 2013
Segment Disclosures	'
Segment Disclosures	'

	(14) Segment Disclosures

	The Company evaluates its business and makes resource allocations based on its five business segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. Under the senior housing, post-acute/skilled nursing, life science and hospital segments, the Company invests or co-invests primarily in single operator or tenant properties, through the acquisition and development of real estate, management of operations (RIDEA) and by debt issued by operators in these sectors. Under the medical office segment, the Company invests or co-invests through the acquisition and development of medical office buildings ("MOBs") that are leased under gross, modified gross or triple-net leases, generally to multiple tenants, and which generally require a greater level of property management. The accounting policies of the segments are the same as those described under Summary of Significant Accounting Policies (see Note 2). There were no intersegment sales or transfers during the years ended December 31, 2013, 2012 and 2011. The Company evaluates performance based upon property net operating income from continuing operations ("NOI"), adjusted NOI (cash NOI) and interest income of the combined investments in each segment.

	Non-segment assets consist primarily of corporate assets including cash and cash equivalents, restricted cash, accounts receivable, net, marketable equity securities, deferred financing costs and, if any, real estate held-for-sale. Interest expense, depreciation and amortization and non-property specific revenues and expenses are not allocated to individual segments in determining the Company's performance measure. See Note 12 for other information regarding concentrations of credit risk.

	Summary information for the reportable segments follows (in thousands):

	For the year ended December 31, 2013:


	Segments		Rental			Resident			Interest		Investment		Total		NOI⁽²⁾		Adjusted
			Revenues⁽¹⁾			Fees and			Income		Management		Revenues				NOI⁽²⁾
						Services					Fee Income						(Cash NOI)
	Senior housing		$	602,506		$	146,288		$	11,621	$	—	$	760,415	$	653,191	$	594,492
	Post-acute/skilled nursing			541,805			—			73,595		—		615,400		539,320		467,508
	Life science			296,879			—			—		4		296,883		239,923		228,475
	Medical office			352,334			—			—		1,843		354,177		212,958		210,811
	Hospital			72,060			—			943		—		73,003		68,198		79,752

	Total		$	1,865,584		$	146,288		$	86,159	$	1,847	$	2,099,878	$	1,713,590	$	1,581,038



	For the year ended December 31, 2012:


	Segments		Rental			Resident			Interest		Investment		Total		NOI⁽²⁾		Adjusted
			Revenues⁽¹⁾			Fees and			Income		Management		Revenues				NOI⁽²⁾
						Services					Fee Income						(Cash NOI)
	Senior housing		$	481,559		$	139,073		$	3,503	$	—	$	624,135	$	529,209	$	478,671
	Post-acute/skilled nursing			530,037			—			19,993		—		550,030		529,562		453,456
	Life science			289,664			—			—		4		289,668		236,491		226,997
	Medical office			333,008			—			—		1,891		334,899		200,876		195,761
	Hospital			80,198			—			1,040		—		81,238		76,685		75,104

	Total		$	1,714,466		$	139,073		$	24,536	$	1,895	$	1,879,970	$	1,572,823	$	1,429,989



	For the year ended December 31, 2011:


	Segments		Rental			Resident			Interest		Investment		Total		NOI⁽²⁾		Adjusted
			Revenues⁽¹⁾			Fees and			Income		Management		Revenues				NOI⁽²⁾
						Services					Fee Income						(Cash NOI)
	Senior housing		$	469,251		$	49,091		$	178	$	70	$	518,590	$	484,970	$	432,047
	Post-acute/skilled nursing			388,633			—			98,450		—		487,083		388,214		331,134
	Life science			288,151			—			—		4		288,155		235,355		212,250
	Medical office			318,368			—			—		1,999		320,367		190,584		184,408
	Hospital			78,987			—			1,236		—		80,223		74,657		72,707

	Total		$	1,543,390		$	49,091		$	99,864	$	2,073	$	1,694,418	$	1,373,780	$	1,232,546




	-1
	Represents rental and related revenues, tenant recoveries, and income from DFLs.

	-2
	NOI is a non-GAAP supplemental financial measure used to evaluate the operating performance of real estate. The Company defines NOI as rental and related revenues, including tenant recoveries, resident fees and services, and income from DFLs, less property level operating expenses. NOI excludes interest income, investment management fee income, interest expense, depreciation and amortization, general and administrative expenses, litigation settlement, impairments, impairment recoveries, other income, net, income taxes, equity income from and impairments of investments in unconsolidated joint ventures, and discontinued operations. The Company believes NOI provides relevant and useful information because it reflects only income and operating expense items that are incurred at the property level and presents them on an unleveraged basis. Adjusted NOI is calculated as NOI after eliminating the effects of straight-line rents, DFL accretion, amortization of above and below market lease intangibles, and lease termination fees. Adjusted NOI is sometimes referred to as "cash NOI." The Company uses NOI and adjusted NOI to make decisions about resource allocations and to assess and compare property level performance. The Company believes that net income is the most directly comparable GAAP measure to NOI. NOI should not be viewed as an alternative measure of operating performance to net income as defined by GAAP because it does not reflect the aforementioned excluded items. Further, the Company's definition of NOI may not be comparable to the definition used by other REITs or real estate companies, as those companies may use different methodologies for calculating NOI.

The following is a reconciliation from reported net income to NOI and adjusted (cash) NOI (in thousands):


		Years ended December 31,
		2013			2012			2011
Net income		$	985,006		$	846,842		$	554,494
Interest income			(86,159	)		(24,536	)		(99,864	)
Investment management fee income			(1,847	)		(1,895	)		(2,073	)
Interest expense			435,252			416,172			415,455
Depreciation and amortization			423,312			353,704			346,055
General and administrative			109,233			79,395			96,059
Litigation settlement and provision			—			—			125,000
Impairments			—			7,878			15,400
Other income, net			(18,216	)		(2,976	)		(12,933	)
Income taxes			5,815			(1,654	)		1,301
Equity income from unconsolidated joint ventures			(64,433	)		(54,455	)		(46,750	)
Total discontinued operations			(74,373	)		(45,652	)		(18,364	)

NOI			1,713,590			1,572,823			1,373,780
Straight-line rents			(39,587	)		(47,311	)		(59,173	)
DFL accretion			(86,055	)		(94,240	)		(74,007	)
Amortization of above and below market lease intangibles, net			(6,646	)		(2,232	)		(4,510	)
Lease termination fees			(217	)		(636	)		(5,873	)
NOI adjustments related to discontinued operations			(47	)		1,585			2,329

Adjusted (Cash) NOI		$	1,581,038		$	1,429,989		$	1,232,546



The Company's total assets by segment were (in thousands):


		December 31,
Segments		2013			2012
Senior housing		$	7,803,085		$	7,638,316
Post-acute/skilled nursing			6,266,938			6,039,575
Life science			3,986,187			3,932,397
Medical office			2,686,069			2,643,893
Hospital			639,357			702,102

Gross segment assets			21,381,636			20,956,283
Accumulated depreciation and amortization			(2,257,188	)		(1,933,311	)

Net segment assets			19,124,448			19,022,972
Assets held-for-sale, net			9,819			56,659
Other non-segment assets			941,603			835,924

Total assets		$	20,075,870		$	19,915,555



At December 31, 2013, goodwill of $50 million was allocated to segment assets as follows: (i) senior housing—$31 million, (ii) post-acute/skilled nursing—$3 million, (iii) medical office—$11 million, and (iv) hospital—$5 million. The Company completed the required annual impairment test during the three months ended December 31, 2013; no impairment was recognized based on the results of this impairment test.

Future_Minimum_Rents

Future Minimum Rents	12 Months Ended
Future Minimum Rents	Dec. 31, 2013
Future Minimum Rents	'
Future Minimum Rents	'

	(15) Future Minimum Rents

	Future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases as of December 31, 2013, are as follows (in thousands):


	Year	Amount
	2014	$	1,056,273
	2015		1,028,424
	2016		991,159
	2017		929,408
	2018		847,918
	Thereafter		3,718,573

		$	8,571,755

Compensation_Plans

Compensation Plans	12 Months Ended
Compensation Plans	Dec. 31, 2013
Compensation Plans	'
Compensation Plans	'

	(16) Compensation Plans

	Stock Based Compensation

	On May 11, 2006, the Company's stockholders approved the 2006 Performance Incentive Plan, as amended and restated (the "2006 Incentive Plan"). The 2006 Incentive Plan provides for the granting of stock-based compensation, including stock options, restricted stock and performance restricted stock units to officers, employees and directors in connection with their employment with or services provided to the Company. On April 23, 2009, the Company's stockholders amended the 2006 Incentive Plan. As a result of the amendment, the maximum number of shares reserved for awards under the 2006 Incentive Plan, as amended, is 23.2 million shares. The maximum number of shares available for future awards under the 2006 Incentive Plan is 5.6 million shares at December 31, 2013, of which approximately 3.7 million shares may be issued as restricted stock and performance restricted stock units.

	Stock Options

	Stock options are granted with an exercise price per share equal to the closing market price of the company's common stock on the grant date. Stock options generally vest ratably over a four- to five-year period and have a 10-year contractual term. Vesting of certain options may accelerate, as provided in the 2006 Incentive Plan or in the applicable award agreement, upon retirement, a change in control or other specified events. Upon the exercise of options, the participant is required to pay the exercise price of the options being exercised and the related tax withholding obligation. Participants have the ability to elect to have the Company withhold the number of shares to be delivered upon exercise of stock options to pay the related exercise price and tax withholding obligation. The value of the shares withheld is dependent upon the closing market price of the Company's common stock on the date that the relevant transaction occurs.

	A summary of the stock option activity in 2013 is presented in the following table (dollars and shares in thousands, except per share amounts):


			Shares			Weighted			Weighted			Aggregate
			Under Options			Average			Average			Intrinsic
						Exercise			Remaining			Value
						Price			Contractual
									Term (Years)
	Outstanding as of January 1, 2013			3,127		$	31.16			6.9		$	43,774
	Granted			499			46.92
	Exercised			(1,300	)		29.17
	Forfeited			(104	)		33.29

	Outstanding as of December 31, 2013			2,222			35.77			5			8,870


	Exercisable as of December 31, 2013			1,281			35.64			3.3			4,924



	The following table summarizes additional information concerning outstanding and exercisable stock options at December 31, 2013 (shares in thousands):


									Weighted			Currently Exercisable
									Average
									Remaining
						Weighted			Contractual
						Average			Term (Years)
						Exercise
	Range of		Shares Under			Price						Shares Under		Weighted
	Exercise Price		Options									Options		Average
														Exercise Price
	$23.34 - $25.52			456		$	23.34			4.1			262	$	23.34
	27.11 - 28.35			342			28.35			4.8			162		28.35
	31.95 - 46.92			1,424			41.53			5.3			857		40.78

				2,222			35.77			5			1,281		35.64



	The following table summarizes additional information concerning unvested stock options at December 31, 2013 (shares in thousands):


			Shares			Weighted
			Under			Average
			Options			Grant Date Fair
						Value
	Unvested at January 1, 2013			2,588		$	4.3
	Granted			499			5.89
	Vested			(2,042	)		4.3
	Forfeited			(104	)		4.75

Unvested at December 31, 2013			941			5.09



The weighted average fair value per share at the date of grant for options awarded during the years ended December 31, 2013, 2012 and 2011 was $5.89, $6.34 and $5.97, respectively. The total vesting date intrinsic value (at vesting) of shares under options vested during the years ended December 31, 2013, 2012 and 2011 was $12 million, $18 million and $16 million, respectively. The total intrinsic value of vested shares under options at December 31, 2013 was $5 million.

Proceeds received from options exercised under the 2006 Incentive Plan for the years ended December 31, 2013, 2012 and 2011 were $18 million, $52 million and $31 million, respectively. The total intrinsic value (at exercise) of options exercised during the years ended December 31, 2013, 2012 and 2011 was $25 million, $51 million and $13 million, respectively.

The fair value of the stock options granted during the years ended December 31, 2013, 2012 and 2011 was estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions described below. The risk-free rate is based on the U.S. Treasury yield curve in effect at the grant date. The expected life (estimated period of time outstanding) of the stock options granted was estimated using the historical exercise behavior of employees and turnover rates. For stock options granted in 2013, 2012 and 2011, the expected volatility was based on the average of the Company's: (i) historical volatility of the adjusted closing prices of its common stock for a period equal to the stock option's expected life, ending on the grant date, calculated on a weekly basis and (ii) the implied volatility of traded options on its common stock for a period equal to 30 days ending on the grant date. For stock options granted prior to 2010, the expected volatility was based on the Company's historical volatility of the adjusted closing prices of its common stock for a period equal to the stock option's expected life, ending on the grant date and calculated on a weekly basis. The following table summarizes the Company's stock option valuation assumptions used with respect to stock options awarded in 2013, 2012 and 2011:


		2013			2012			2011
Risk-free rate			0.78	%		1.09	%		2.58	%
Expected life (in years)			4.5			5.9			6.5
Expected volatility			28.9	%		32.7	%		31.8	%
Expected dividend yield			5.8	%		5.9	%		6.1	%

Restricted Stock and Performance Restricted Stock Units

Under the 2006 Incentive Plan, restricted stock and performance restricted stock units generally have a contractual life or vest over a three- to five-year period. The vesting of certain restricted shares and units may accelerate, as provided in the 2006 Incentive Plan or in the applicable award agreement, upon retirement, a change in control or other specified events. When vested, each performance restricted stock unit is convertible into one share of common stock. The restricted stock and performance restricted stock units are valued on the grant date based on the closing market price of the Company's common stock on that date. Generally, the Company recognizes the fair value of the awards over the applicable vesting period as compensation expense. Upon any exercise or payment of restricted shares or units, the participant is required to pay the related tax withholding obligation. Participants generally have the flexibility to elect to have the Company reduce the number of shares to be delivered to pay the related tax withholding obligation. The value of the shares withheld is dependent on the closing market price of the Company's common stock on the date that the relevant transaction occurs. During 2013, 2012 and 2011, the Company withheld 242,000, 361,000 and 136,000 shares, respectively, to offset tax withholding obligations with respect to the restricted stock and restricted stock unit awards.

The following table summarizes additional information concerning restricted stock and restricted stock units at December 31, 2013 (units and shares in thousands):


		Restricted			Weighted			Restricted			Weighted
		Stock			Average			Shares			Average
		Units			Grant Date						Grant Date
					Fair Value						Fair Value
Unvested at January 1, 2013			1,220		$	35.16			145		$	27.24
Granted			502			45.96			144			41.77
Vested			(471	)		36.58			(43	)		31.65
Forfeited			(43	)		41.79			(20	)		26.84

Unvested at December 31, 2013			1,208			38.82			226			35.7



At December 31, 2013, the weighted average remaining vesting period of restricted stock units and restricted stock was two years. The total fair values (at vesting) of restricted stock and restricted stock units which vested for the years ended December 31, 2013, 2012 and 2011 were $22 million, $39 million and $14 million, respectively.

As the Company pays dividends on its outstanding common stock, holders of restricted stock awards are generally entitled to any dividends on the underlying restricted shares, and holders of restricted stock units generally have the right to a cash payment equal to the dividends that would be paid on a number of shares of Company common stock equal to the number of outstanding units subject to the award.

On August 14, 2006, the Company granted 219,000 restricted stock units to the Company's former Chairman and Chief Executive Officer. The restricted stock units vest over a period of 10 years beginning in 2012, subject to accelerated vesting in certain circumstances as provided in the applicable award agreement and the Company's employment agreement with its former Chief Executive Officer. Each vested unit will be convertible, upon payment of the award, into one share of common stock. Additionally, as the Company pays dividends on its outstanding common stock, the original award will be credited with additional restricted stock units as dividend equivalents (in lieu of receiving a cash payment). Generally, the dividend equivalent restricted stock units will be subject to the same vesting and other conditions as applied to the grant.

The Company's Board of Directors terminated its former Chairman, Chief Executive Officer and President on October 2, 2013. As a result of the termination, general and administrative expenses for the year ended December 31, 2013 include charges of $27 million related to: (i) the acceleration of $17 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $10 million.

In 2012, the Company implemented a clawback policy that is retroactive to prior years pursuant to which its Board of Directors or Compensation Committee shall, in such circumstances as they determine to be appropriate, require reimbursement or cancellation of all or a portion of any short or long-term cash or equity incentive awards or payments to an officer (or former officer, as the case may be) of the Company where: (1) the amount of, or number of shares included in, any such payment or award was determined based on the achievement of financial results that were subsequently the subject of an accounting restatement due to noncompliance with any financial reporting requirement under the securities laws; and (2) a lesser payment or award of cash or shares would have been made to the individual based upon the restated financial results; and (3) the payment or award of cash or shares was received by the individual prior to or during the 12-month period following the first public issuance or filing of the financial results that were subsequently restated.

Total share-based compensation expense recognized during the years ended December 31, 2013, 2012 and 2011 was $40 million, $23 million and $20 million, respectively. As of December 31, 2013, there was $28 million of deferred compensation cost associated with future employee services, related to unvested share-based compensation arrangements granted under the Company's incentive plans, which is expected to be recognized over a weighted average period of three years.

Employee Benefit Plan

The Company maintains a 401(k) and profit sharing plan that allows for eligible participants to defer compensation, subject to certain limitations imposed by the Code. The Company provides a matching contribution of up to 4% of each participant's eligible compensation. During 2013, 2012 and 2011, the Company's matching contributions were approximately $0.8 million for each year.

Impairments

Impairments	12 Months Ended
Impairments	Dec. 31, 2013
Impairments	'
Impairments	'

	(17) Impairments

	During the year ended December 31, 2013, the Company placed two medical office buildings into assets held for sale. As a result, the Company recognized impairment charges of $1 million, which reduced the carrying value of the Company's aggregate investments from $7 million to the $6 million sales price. The fair value of the Company's medical office buildings were based on the projected sales prices from the pending dispositions. The sales prices of the MOBs were considered to be a Level 2 measurement within the fair value hierarchy.

	During the year ended December 31, 2012, the Company executed an agreement for the disposition of a land parcel in its life science segment. As a result of the planned disposition of the land parcel, the Company recognized an impairment charge of $7.9 million, which reduced the carrying value of the Company's investment from $26 million to the $18 million sales price. The fair value of the Company's land parcel was based on the projected sales prices from the pending disposition. The sales price of the land parcel was considered to be a Level 2 measurement within the fair value hierarchy.

	During the year ended December 31, 2011, the Company concluded that its senior secured term loan to Delphis was impaired and established a provision for losses (impairment) of $15 million. The impairment resulted from the Company's conclusion that the carrying value of its loan was in excess of the fair value of the loan's underlying collateral assets. This provision for losses reduced the carrying value of its investment from $91 million to its fair value of $76 million. The fair value of the Company's loan investment was based on a discounted cash flow valuation model and inputs considered to be a Level 3 measurement within the fair value hierarchy. Inputs to this valuation model include real estate capitalization rates, discount rates, earnings multiples, industry growth rates and operating margins, some of which influence the Company's expectation of future cash flows from the loan and, accordingly, the fair value of its investment.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Taxes	'
Income Taxes	'

	(18) Income Taxes

	For the year ended December 31, 2013, the Company recorded an income tax expense of $5.9 million as compared to an income tax benefit of $1.6 million and an income tax expense of $1.2 million for the years ended December 31, 2012 and 2011 respectively. The Company's income tax expense from discontinued operations was insignificant for the years ended December 31, 2013, 2012 and 2011. The Company's deferred income tax expense and its balance in deferred tax assets and liabilities were insignificant as of December 31, 2013, 2012 and 2011.

	The Company files numerous U.S. federal, state and local income and franchise tax returns. With a few exceptions, the Company is no longer subject to U.S. federal, state or local tax examinations by taxing authorities for years prior to 2010.

	At December 31, 2013 and 2012, the tax basis of the Company's net assets is less than the reported amounts by $7.7 billion and $7.6 billion, respectively. The difference between the reported amounts and the tax basis is primarily related to the Slough Estates USA, Inc. ("SEUSA") and HCR ManorCare acquisitions, which occurred in 2007 and 2011, respectively. Both SEUSA and HCR ManorCare were corporations subject to federal and state income taxes. As a result of these acquisitions, the Company succeeded to the tax attributes of SEUSA and HCR ManorCare, including the tax basis in the acquired companies' assets and liabilities. The Company generally will be subject to a corporate- level tax on any taxable disposition of SEUSA's pre-acquisition assets that occur within ten years after its August 1, 2007 acquisition, and any taxable disposition of HCR ManorCare's pre-acquisition assets that occur within ten years after its April 7, 2011 acquisition.

	The corporate-level tax associated with the disposition of assets acquired in connection with the SEUSA and HCR ManorCare acquisitions would be assessed only to the extent of the built-in gain that existed on the date of each acquisition, based on the fair market value of the assets on August 1, 2007, with respect to SEUSA, and April 7, 2011, with respect to HCR ManorCare. The Company does not expect to dispose of any assets included in either acquisition that would result in the imposition of a material tax liability. As a result, the Company has not recorded a deferred tax liability associated with this corporate-level tax. Gains from asset dispositions occurring more than 10 years after either acquisition will not be subject to this corporate-level tax. However, from time to time, the Company may dispose of SEUSA or HCR ManorCare assets before the applicable 10-year periods if it is able to effect a tax deferred exchange.

	In connection with the SEUSA and HCR ManorCare acquisitions, the Company assumed unrecognized tax benefits of $8 million and $2 million, respectively. During 2013, the Company had a decrease in unrecognized tax benefits of $0.9 million. The decrease was caused by the lapse in the statute of limitations for unrecognized tax benefits assumed in connection with the HCR ManorCare acquisition. During 2011, the Company had a net decrease in unrecognized tax benefits of $4.9 million. The decrease was caused by the reversal of the remaining $6.9 million in unrecognized tax benefits related to the SEUSA acquisition caused by SEUSA's settlement of federal and state tax audits for all years for which the unrecognized tax benefits had been accrued, net of a $2.0 million increase for unrecognized tax benefits assumed in connection with the HCR ManorCare acquisition. The unrecognized tax benefits balances at both December 31, 2013 and 2012 were related entirely to the Company's acquisition of HCR ManorCare.

	A reconciliation of the Company's beginning and ending unrecognized tax benefits follows (in thousands):


		Amount
	Balance at January 1, 2011	$	6,890
	Additions based on prior years' tax positions		1,783
	Reductions based on prior years' tax positions		(6,890	)
	Additions based on 2011 tax positions		194

	Balance at December 31, 2011		1,977
	Reductions based on prior years' tax positions		—
	Additions based on 2012 tax positions		—

	Balance at December 31, 2012		1,977
	Reductions based on prior years' tax positions		(890	)
	Additions based on 2013 tax positions		—

	Balance at December 31, 2013	$	1,087



	The Company anticipates that the balance in unrecognized tax benefits will decrease over the next 12 months by approximately $0.9 million due to a lapse in the statute of limitations.

	For the years ended December 31, 2013 and 2012, the Company recorded insignificant net increases to interest expense associated with the unrecognized tax benefits. For the year ended December 31, 2011, the Company recorded a net reduction to interest expense of $1.1 million. The net reduction was due to the reversal of $1.3 million of interest expense associated with the SEUSA unrecognized tax benefits and an increase of $0.2 million associated with unrecognized tax benefits assumed in connection with the HCR ManorCare acquisition.

	The Company has agreements with the sellers of SEUSA and HCR ManorCare whereby any increases in taxes and associated interest and penalties related to years prior to each of these acquisitions will be the responsibility of the sellers. Similarly, any pre-acquisition tax refunds and associated interest income will be refunded to the sellers.

	There would be no effect on the Company's tax rate if the unrecognized tax benefits were to be recognized.

Earnings_Per_Common_Share

Earnings Per Common Share	12 Months Ended
Earnings Per Common Share	Dec. 31, 2013
Earnings Per Common Share	'
Earnings Per Common Share	'

	(19) Earnings Per Common Share

	The following table illustrates the computation of basic and diluted earnings per share (dollars in thousands, except per share data):


		Year Ended December 31,
		2013			2012			2011
	Numerator
	Income from continuing operations	$	910,633		$	801,190		$	536,130
	Noncontrolling interests' share in continuing operations		(14,110	)		(12,411	)		(15,484	)

	Income from continuing operations applicable to HCP, Inc.		896,523			788,779			520,646
	Preferred stock dividends		—			(17,006	)		(21,130	)
	Participating securities' share in continuing operations		(1,734	)		(3,245	)		(2,459	)

	Income from continuing operations applicable to common shares		894,789			768,528			497,057
	Discontinued operations		74,373			45,652			18,364
	Noncontrolling interests' share in discontinued operations		(59	)		(1,891	)		(119	)

	Net income applicable to common shares	$	969,103		$	812,289		$	515,302


	Denominator
	Basic weighted average common shares		455,002			427,047			398,446
	Dilutive potential common shares		700			1,269			1,772

	Diluted weighted average common shares		455,702			428,316			400,218


	Basic earnings per common share
	Income from continuing operations	$	1.97		$	1.8		$	1.25
	Discontinued operations		0.16			0.1			0.04

	Net income applicable to common stockholders	$	2.13		$	1.9		$	1.29


	Diluted earnings per common share
	Income from continuing operations	$	1.97		$	1.8		$	1.25
	Discontinued operations		0.16			0.1			0.04

	Net income applicable to common shares	$	2.13		$	1.9		$	1.29



	Restricted stock and certain of the Company's performance restricted stock units are considered participating securities, because dividend payments are not forfeited even if the underlying award does not vest, which require the use of the two-class method when computing basic and diluted earnings per share.

	Options to purchase approximately 1.1 million, 1.2 million and 1.7 million shares of common stock that had an exercise price in excess of the average market price of the common stock during the years ended December 31, 2013, 2012 and 2011, respectively, were not included because they are anti-dilutive. Additionally, 6 million shares issuable upon conversion of 4 million DownREIT units during the years ended December 31, 2013, 2012 and 2011 were not included because they are anti-dilutive.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	12 Months Ended
Supplemental Cash Flow Information	Dec. 31, 2013
Supplemental Cash Flow Information	'
Supplemental Cash Flow Information	'

	(20) Supplemental Cash Flow Information


		Year Ended December 31,
		2013		2012		2011
		(in thousands)
	Supplemental cash flow information:
	Interest paid, net of capitalized interest	$	412,011	$	389,753	$	348,455
	Income taxes paid		114		1,790		1,710
	Capitalized interest		13,494		23,360		26,402
	Supplemental schedule of non-cash investing activities:
	Accrued construction costs		15,187		14,157		11,525
	Reclassification of the in-place leases from real estate to DFLs		123,891		—		—
	Fair value of real estate acquired in exchange for sale of real estate		15,204		—		—
	Settlement of loans receivable as consideration for the HCR ManorCare Acquisition		—		—		1,990,406
	Supplemental schedule of non-cash financing activities:
	Vesting of restricted stock units		471		707		228
	Cancellation of restricted stock		20		8		35
	Conversion of non-managing member units into common stock		3,583		24,988		3,456
	Noncontrolling interests issued in connection with acquisitions		—		42,734		1,500
	Mortgages included in the consolidation of HCP Ventures II		—		—		635,182
	Mortgages and other liabilities assumed with real estate acquisitions		12,767		60,597		57,869
	Unrealized gains (losses), net on available for sale securities and derivatives designated as cash flow hedges		7,790		4,649		(9,763	)

	See additional information regarding supplemental non-cash financing activities related to: (i) a real estate exchange in Note 5, (ii) the HCR ManorCare Acquisition in Notes 3 and 7, (iii) the HCP Ventures II purchase in Note 8 and (iv) the preferred stock redemption in Note 13.

Variable_Interest_Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2013
Variable Interest Entities	'
Variable Interest Entities	'

	(21) Variable Interest Entities

	Unconsolidated Variable Interest Entities

	At December 31, 2013, the Company leased 48 properties to a total of seven VIE tenants and has additional investments in a loan and marketable debt securities to VIE borrowers. The Company has determined that it is not the primary beneficiary of these VIEs.

	The Company holds an interest-only, senior secured term loan made to a borrower (Delphis Operations, L.P.) that has been identified as a VIE (see Note 7 for additional information on the Delphis loan). The Company does not consolidate the VIE because it does not have the ability to control the activities that most significantly impact the VIE's economic performance. The loan is collateralized by all of the assets of the borrower (comprised primarily of interests in partnerships that operate surgical facilities, of which one partnership is a tenant of the Company).

	The Company holds commercial mortgage-backed securities ("CMBS") issued by Federal Home Loan Mortgage Corporation through a special purpose entity that has been identified as a VIE. The Company does not consolidate the VIE because it does not have the ability to control the activities that most significantly impact the VIE's economic performance. The CMBS issued by the VIE are backed by mortgages on senior housing facilities.

	The carrying value and classification of the related assets, liabilities and maximum exposure to loss as a result of the Company's involvement with these VIEs are presented below at December 31, 2013 (in thousands):


	VIE Type	Maximum Loss		Asset/Liability Type	Carrying
		Exposure⁽¹⁾			Amount
	VIE tenants—operating leases	$	251,091	Lease intangibles, net and straight-line rent receivables	$	14,300
	VIE tenants—DFLs		1,081,415	Net investment in DFLs		601,970
	Loan—senior secured		18,071	Loans receivable, net		18,071
	Debt investment		17,071	Marketable debt securities		17,071


	-1
	The Company's maximum loss exposure related to the VIE tenants represents the future minimum lease payments over the remaining term of the respective leases, which may be mitigated by re-leasing the properties to new tenants. The Company's maximum loss exposure related to its loans and marketable debt securities to the VIE borrowers represents its current aggregate carrying amount.

	As of December 31, 2013, the Company has not provided, and is not required to provide, financial support through a liquidity arrangement or otherwise, to its unconsolidated VIEs, including circumstances in which it could be exposed to further losses (e.g., cash shortfalls). See Notes 6, 7 and 12 for additional descriptions of the nature, purpose and activities of the Company's unconsolidated VIEs and interests therein.

	Consolidated Variable Interest Entities

	In September 2013, the Company made loans to two entities that entered into a tax credit structure ("Tax Credit Subsidiaries"). The Company consolidates the Tax Credit Subsidiaries because they are VIEs and the Company is the primary beneficiary of these VIEs. The assets and liabilities of the Tax Credit Subsidiaries substantially consist of notes receivable, prepaid expenses, notes payable and accounts payable and accrued liabilities generated from their operating activities. Assets generated by the operating activities of the Tax Credit Subsidiaries may only be used to settle their contractual obligations.

	In September 2011, the Company formed a partnership in which it has a 90% ownership interest in a joint venture entity that owned and operated 21 properties in a RIDEA structure ("RIDEA Entity"). The Company consolidated the RIDEA Entity as a result of the rights it acquired through the joint venture agreement with Brookdale. In the fourth quarter of 2012, upon the occurrence of a reconsideration event, it was determined that this RIDEA Entity was a VIE and that the Company was the primary beneficiary of the VIE; therefore, the Company continued to consolidate this entity. During the second quarter of 2013, upon the occurrence of a reconsideration event, it was determined that this RIDEA Entity was no longer a VIE; however, the Company continues to consolidate the RIDEA Entity. The assets and liabilities of this RIDEA Entity substantially consist of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities generated from its operating activities. The assets generated by the operating activities of the RIDEA Entity may be used to settle its contractual obligations, which include lease obligations to the Company. The Company is entitled to its ownership share of the RIDEA Entity's assets; however, it does not guarantee its liabilities (or contractual obligations) and is not liable to its general creditors.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2013
Fair Value Measurements	'
Fair Value Measurements	'

	(22) Fair Value Measurements

	The following table illustrates the Company's financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets. Recognized gains and losses are recorded in other income, net on the Company's consolidated statements of income. During the year ended December 31, 2013, there were no transfers of financial assets or liabilities within the fair value hierarchy.

	The financial assets and liabilities carried at fair value on a recurring basis at December 31, 2013 are as follows (in thousands):


	Financial assets and liabilities	Fair Value			Level 2			Level 3
	Interest-rate swap asset⁽¹⁾	$	2,325		$	2,325		$	—
	Interest-rate swap liabilities⁽¹⁾		(8,384	)		(8,384	)		—
	Currency swap liabilities⁽¹⁾		(2,756	)		(2,756	)		—
	Warrants⁽¹⁾		114			—			114

		$	(8,701	)	$	(8,815	)	$	114




	-1
	Interest rate and currency swaps as well as common stock warrant fair values are determined based on observable and unobservable market assumptions utilizing standardized derivative pricing models.

Disclosures_About_Fair_Value_o

Disclosures About Fair Value of Financial Instruments	12 Months Ended
Disclosures About Fair Value of Financial Instruments	Dec. 31, 2013
Disclosures About Fair Value of Financial Instruments	'
Disclosures About Fair Value of Financial Instruments	'

	(23) Disclosures About Fair Value of Financial Instruments

	The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of fair value because of the short-term maturities of these instruments. The fair values of loans receivable, bank line of credit, term loan, mortgage debt and other debt are based on rates currently prevailing for similar instruments with similar maturities. The fair values of interest-rate and currency swap contracts as well as common stock warrants are determined based on observable and unobservable market assumptions using standardized pricing models. The fair values of senior unsecured notes and marketable equity and debt securities are determined utilizing market quotes.

	The table below summarizes the carrying amounts and fair values of the Company's financial instruments:


		December 31,
		2013				2012
		Carrying		Fair Value		Carrying		Fair Value
		Amount		Fair Value		Amount		Fair Value
		(in thousands)
	Loans receivable, net⁽²⁾	$	366,001	$	373,441	$	276,030	$	279,850
	Marketable debt securities⁽³⁾		244,089		280,850		222,809		234,137
	Marketable equity securities⁽¹⁾		—		—		24,829		24,829
	Warrants⁽³⁾		114		114		670		670
	Term loan⁽²⁾		226,858		226,858		222,694		222,694
	Senior unsecured notes⁽¹⁾		6,963,375		7,405,817		6,712,624		7,432,012
	Mortgage debt⁽²⁾		1,396,485		1,421,214		1,676,544		1,771,155
	Other debt⁽²⁾		74,909		74,909		81,958		81,958
	Interest-rate swap asset⁽²⁾		2,325		2,325		89		89
	Interest-rate swap liability⁽²⁾		8,384		8,384		12,699		12,699
	Currency swap liabilities⁽²⁾		2,756		2,756		2,641		2,641


	-1
	Level 1: Fair value calculated based on quoted prices in active markets.

	-2
	Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing model derived valuations in which significant inputs or value drivers are observable in active markets.

	-3
	Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

Derivative_Financial_Instrumen

Derivative Financial Instruments	12 Months Ended
Derivative Financial Instruments	Dec. 31, 2013
Derivative Financial Instruments	'
Derivative Financial Instruments	'

	(24) Derivative Financial Instruments

	The following table summarizes the Company's outstanding interest-rate and foreign currency swap contracts as of December 31, 2013 (dollars and GBP in thousands):


	Date Entered	Maturity Date	Hedge		Fixed			Floating/Exchange Rate Index		Notional/Sell			Fair Value⁽¹⁾
			Designation		Rate/Buy					Amount
					Amount
	July 2005⁽²⁾	Jul-20	Cash Flow			3.82	%	BMA Swap Index		$	45,600		$	(5,681	)
	November 2008⁽³⁾	Oct-16	Cash Flow			5.95	%	1 Month LIBOR+1.50%		$	26,400			(2,703	)
	July 2012⁽⁴⁾	Jun-16	Cash Flow			1.81	%	1 Month GBP LIBOR+1.20%			£137,000			2,325
	July 2012⁽⁵⁾	Jun-16	Cash Flow		$	56,800		Buy USD/Sell GBP			£ 36,200			(2,756	)


	-1
	Interest-rate and foreign currency swap assets are recorded in other assets, net and interest-rate and foreign currency swap liabilities are recorded in accounts payable and accrued liabilities on the consolidated balance sheets.

	-2
	Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows.

	-3
	Acquired in conjunction with mortgage debt assumed related to real estate acquired on December 28, 2010. Hedges fluctuations in interest payments on variable-rate secured debt due to fluctuations in the underlying benchmark interest rate.

	-4
	Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate.

	-5
	Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to a portion of the Company's forecasted interest receipts on GBP denominated senior unsecured notes. Represents five foreign exchange contracts to sell £7.2 million at a rate of 1.5695 on various dates through June 2016.

	The Company uses derivative instruments to mitigate the effects of interest rate and foreign currency fluctuations on specific forecasted transactions as well as recognized financial obligations or assets. Utilizing derivative instruments allows the Company to manage the risk of fluctuations in interest and foreign currency rates related to the potential impact these changes could have on future earnings and forecasted cash flows. The Company does not use derivative instruments for speculative or trading purposes.

	The primary risks associated with derivative instruments are market and credit risk. Market risk is defined as the potential for loss in value of a derivative instrument due to adverse changes in market prices. Utilizing derivative instruments allows the Company to manage the risk of fluctuations in interest and foreign currency rates related to the potential impact these changes could have on future earnings, forecasted cash flows and the fair value of recognized obligations.

	Credit risk is the risk that one of the parties to a derivative contract fails to perform or meet their financial obligation. The Company does not obtain collateral associated with its derivative contracts, but monitors the credit standing of its counterparties on a regular basis. Should a counterparty fail to perform, the Company would incur a financial loss to the extent that the associated derivative contract was in an asset position. At December 31, 2013, the Company does not anticipate non-performance by the counterparties to its outstanding derivative contracts.

	On July 27, 2012, the Company entered into a foreign currency swap contract to hedge the foreign currency exchange risk related to a portion of the forecasted interest receipts from its GBP denominated senior unsecured notes (see additional discussion of the Four Seasons senior unsecured notes in Note 10). The cash flow hedge has a fixed USD/GBP exchange rate of 1.5695 (buy $11 million and sell £7 million semi-annually) for a portion of its forecasted semi-annual cash receipts denominated in GBP. The foreign currency swap contract matures in June 2016 (the end of the non-call period of the senior unsecured notes). The fair value of the contract at December 31, 2013 was a liability of $3 million and is included in accounts payable and accrued liabilities. During the year ended December 31, 2013, there was no ineffective portion related to this hedge.

	On July 27, 2012, the Company entered into an interest-rate swap contract that is designated as hedging the interest payments on its GBP denominated Term Loan due to fluctuations in the underlying benchmark interest rate (see additional discussion of the Term Loan in Note 11). The cash flow hedge has a notional amount of £137 million and expires in June 2016 (the maturity of the Term Loan). The fair value of the contract at December 31, 2013 was an asset of $2 million and is included in other assets, net. During the year ended December 31, 2013, there was no ineffective portion related to this hedge.

	For the year ended December 31, 2013, the Company earned additional interest income of $0.1 million and recognized additional interest expense of $3 million, resulting from its cash flow hedging relationships. At December 31, 2013, the Company expects that the hedged forecasted transactions for each of the outstanding qualifying cash flow hedging relationships remain probable of occurring, and as a result, no gains or losses recorded to accumulated other comprehensive loss are expected to be reclassified to earnings.

	To illustrate the effect of movements in the interest rate and foreign currency markets, the Company performed a market sensitivity analysis on its outstanding hedging instruments. The Company applied various basis point spreads to the underlying interest rate curves and foreign currency exchange rates of the derivative portfolio in order to determine the instruments' change in fair value. The following table summarizes the results of the analysis performed (dollars in thousands):


			Effects of Change in Interest and Foreign
			Currency Rates
	Date Entered	Maturity Date	+50 Basis			-50 Basis			+100 Basis			-100 Basis
	Date Entered	Maturity Date	Points			Points			Points			Points
	Jul-05	Jul-20	$	1,400		$	(1,381	)	$	2,791		$	(2,772	)
	Nov-08	Oct-16		363			(353	)		722			(711	)
	Jul-12	Jun-16		3,019			(2,490	)		5,774			(5,244	)
	Jul-12	Jun-16		(657	)		(57	)		(957	)		243

Transactions_with_Related_Part

Transactions with Related Parties	12 Months Ended
Transactions with Related Parties	Dec. 31, 2013
Transactions with Related Parties	'
Transactions with Related Parties	'

	(25) Transactions with Related Parties

	Mr. Klaritch, an executive vice president of the Company, was previously a senior executive and limited liability company member of MedCap Properties, LLC, which was acquired in October 2003 by HCP and a joint venture of which HCP was the managing member. As part of that transaction, MedCap Properties, LLC contributed certain property interests to a newly-formed entity, HCPI/Tennessee LLC, in exchange for DownREIT units. In connection with the transactions, Mr. Klaritch received 113,431 non-managing member units in HCPI/Tennessee, LLC in a distribution of his interest in MedCap Properties, LLC. Each DownREIT unit is redeemable for an amount of cash approximating the then-current market value of two shares of HCP's common stock or, at HCP's option, two shares of HCP's common stock (subject to certain adjustments, such as stock splits, stock dividends and reclassifications). During the year ended December 31, 2012, Mr. Klaritch and his affiliates exchanged their remaining approximately 45,000 HCPI/Tennessee, LLC DownREIT units for approximately 90,000 shares of the Company's common stock.

Selected_Quarterly_Financial_D

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
Selected Quarterly Financial Data (Unaudited)	Dec. 31, 2013
Selected Quarterly Financial Data (Unaudited)	'
Selected Quarterly Financial Data (Unaudited)	'

	(26) Selected Quarterly Financial Data (Unaudited)

	Selected quarterly information for the years ended December 31, 2013 and 2012 is as follows (in thousands, except per share amounts). Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:


		Three Months Ended During 2013
		March 31		June 30		September 30		December 31
	Total revenues	$	511,184	$	512,239	$	546,158	$	530,297
	Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		217,667		199,916		214,176		220,256
	Total discontinued operations		2,232		2,828		9,824		59,489
	Net income		233,784		216,725		236,858		297,639
	Net income applicable to HCP, Inc.		230,585		213,401		233,756		293,095
	Dividends paid per common share		0.525		0.525		0.525		0.525
	Basic earnings per common share		0.51		0.47		0.51		0.64
	Diluted earnings per common share		0.51		0.47		0.51		0.64





		Three Months Ended During 2012
		March 31		June 30		September 30		December 31
	Total revenues	$	450,608	$	456,130	$	469,999	$	503,233
	Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		176,483		186,931		181,457		200,210
	Total discontinued operations		5,671		2,465		3,607		33,909
	Net income		196,564		204,975		199,043		246,260
	Net income applicable to HCP, Inc.		193,380		202,024		196,108		241,028
	Dividends paid per common share		0.5		0.5		0.5		0.5
	Basic earnings per common share		0.43		0.48		0.46		0.54
	Diluted earnings per common share		0.43		0.48		0.45		0.53

	The above selected quarterly financial data includes the following significant transactions:



	•
	The Company redeemed all outstanding preferred stock during the quarter ended March 31, 2012.

	•
	The Company completed the acquisition of a 129 senior housing portfolio during the quarter ended December 31, 2012.

	•
	The Company received £129 million ($202 million) from the par payoff of its Barchester debt investments generating $24 million of interest income during the quarter ended September 30, 2013.

	•
	The Company's Board of Directors terminated its former Chairman, Chief Executive Officer and President on October 2, 2013. As a result of the termination, the Company incurred severance-related charges of $26 million that include: (i) the acceleration of $17 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $9 million.

Schedule_II_Valuation_and_Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2013
Schedule II: Valuation and Qualifying Accounts	'
Schedule II: Valuation and Qualifying Accounts	'

	Schedule II: Valuation and Qualifying Accounts

	December 31, 2013

	(In thousands)


	Allowance Accounts⁽¹⁾			Additions				Deductions
	Year Ended	Balance at		Amounts		Acquired		Uncollectible			Disposed			Balance at
	December 31,	Beginning of		Charged		Properties		Accounts			Properties			End of Year
		Year		Against				Written-off
				Operations, net
	2013	$	48,599	$	2,633	$	—	$	(2,063	)	$	—		$	49,169
	2012		49,209		3,724		—		(960	)		(3,374	)		48,599
	2011		43,740		13,316		2		(4,673	)		(3,176	)		49,209


	-1
	Includes allowance for doubtful accounts, straight-line rent reserves, and allowances for loan and direct financing lease losses.

Schedule_III_Real_Estate_and_A

Schedule III: Real Estate and Accumulated Depreciation	12 Months Ended
Schedule III: Real Estate and Accumulated Depreciation	Dec. 31, 2013
Schedule III: Real Estate and Accumulated Depreciation	'
Schedule III: Real Estate and Accumulated Depreciation	'

	Schedule III: Real Estate and Accumulated Depreciation

	December 31, 2013

	(Dollars in thousands)


																			Gross Amount at Which Carried
										Initial Cost to Company									As of December 31, 2013															Life on Which
																																		Depreciation in
																																		Latest Income
																Costs																		Statement is
																Capitalized																		Computed
																Subsequent to
	City				State		Encumbrances at			Land			Buildings and			Acquisition			Land			Buildings and			Total⁽¹⁾			Accumulated			Year
							December 31, 2013						Improvements									Improvements						Depreciation			Acquired/
																															Constructed
	Senior housing
	1107		Huntsville		AL		$	—		$	307		$	5,813		$	—		$	307		$	5,453		$	5,760		$	(988	)		2006			40
	1154		Little Rock		AR			—			1,922			14,140			445			2,046			13,967			16,013			(2,616	)		2006			39
	786		Douglas		AZ			—			110			703			—			110			703			813			(285	)		2005			35
	2087		Prescott		AZ			—			1,277			8,660			—			1,277			8,660			9,937			(371	)		2012			45
	1974		Sun City		AZ			27,334			2,640			33,223			724			2,640			33,947			36,587			(3,890	)		2011			30
	518		Tucson		AZ			—			2,350			24,037			—			2,350			24,037			26,387			(8,213	)		2002			30
	1238		Beverly Hills		CA			—			9,872			32,590			2,150			9,872			34,014			43,886			(6,543	)		2006			40
	1149		Camarillo		CA			—			5,798			19,427			575			5,822			19,202			25,024			(3,500	)		2006			40
	1006		Carlsbad		CA			—			7,897			14,255			363			7,897			13,828			21,725			(2,541	)		2006			40
	883		Carmichael		CA			—			4,270			13,846			—			4,270			13,236			17,506			(2,344	)		2006			40
	851		Citrus Heights		CA			—			1,180			8,367			—			1,180			8,037			9,217			(2,030	)		2006			29
	2092		Clearlake		CA			—			354			4,799			—			354			4,799			5,153			(177	)		2012			45
	790		Concord		CA			25,000			6,010			39,601			—			6,010			38,301			44,311			(8,043	)		2005			40
	2181		Corona		CA			2			2,636			10,134			—			2,636			10,134			12,770			(357	)		2012			45
	787		Dana Point		CA			—			1,960			15,946			—			1,960			15,466			17,426			(3,254	)		2005			39
	1152		Elk Grove		CA			—			2,235			6,339			262			2,235			6,448			8,683			(1,170	)		2006			40
	798		Escondido		CA			14,340			5,090			24,253			—			5,090			23,353			28,443			(4,914	)		2005			40
	2054		Fortuna		CA			—			818			3,295			—			818			3,295			4,113			(135	)		2012			50
	2079		Fortuna		CA			—			1,346			11,856			—			1,346			11,856			13,202			(396	)		2012			45
	791		Fremont		CA			8,857			2,360			11,672			—			2,360			11,192			13,552			(2,355	)		2005			40
	1965		Fresno		CA			18,961			1,730			31,918			2,535			1,730			34,453			36,183			(3,625	)		2011			30
	788		Granada Hills		CA			—			2,200			18,257			—			2,200			17,637			19,837			(3,711	)		2005			39
	1156		Hemet		CA			—			1,270			5,966			214			1,271			5,933			7,204			(1,091	)		2006			40
	856		Irvine		CA			—			8,220			14,104			—			8,220			13,564			21,784			(2,235	)		2006			45
	227		Lodi		CA			8,776			732			5,453			—			732			5,453			6,185			(2,384	)		1997			35
	226		Murietta		CA			5,897			435			5,729			—			435			5,729			6,164			(2,437	)		1997			35
	1165		Northridge		CA			—			6,718			26,309			549			6,752			26,015			32,767			(4,733	)		2006			40
	1561		Orangevale		CA			—			2,160			8,522			1,000			2,160			9,002			11,162			(1,713	)		2008			40
	1168		Palm Springs		CA			—			1,005			5,183			396			1,005			5,216			6,221			(947	)		2006			40
	789		Pleasant Hill		CA			6,270			2,480			21,333			—			2,480			20,633			23,113			(4,342	)		2005			40
	1166		Rancho Mirage		CA			—			1,798			24,053			475			1,812			23,600			25,412			(4,277	)		2006			40
	2065		Roseville		CA			—			692			21,662			—			692			21,662			22,354			(657	)		2012			45
	1008		San Diego		CA			—			6,384			32,072			222			6,384			31,191			37,575			(5,708	)		2006			40
	1007		San Dimas		CA			—			5,628			31,374			208			5,630			30,786			36,416			(5,630	)		2006			40
	1009		San Juan Capistrano		CA			—			5,983			9,614			189			5,983			9,516			15,499			(1,766	)		2006			40
	1167		Santa Rosa		CA			—			3,582			21,113			665			3,627			20,964			24,591			(3,823	)		2006			40
	793		South San Francisco		CA			10,216			3,000			16,586			—			3,000			16,056			19,056			(3,372	)		2005			40
	1966		Sun City		CA			14,355			2,650			22,709			1,369			2,650			24,078			26,728			(2,978	)		2011			30
	792		Ventura		CA			9,653			2,030			17,379			—			2,030			16,749			18,779			(3,525	)		2005			40
	1155		Yorba Linda		CA			—			4,968			19,290			308			5,030			18,740			23,770			(3,409	)		2006			40
	2055		Yreka		CA			—			565			9,184			—			565			9,184			9,749			(346	)		2012			45
	1232		Colorado Springs		CO			—			1,910			24,479			400			1,910			23,915			25,825			(4,352	)		2006			40
	512		Denver		CO			—			2,810			36,021			1,885			2,810			37,906			40,716			(12,500	)		2002			30
	1233		Denver		CO			—			2,511			30,641			342			2,528			30,164			32,692			(5,503	)		2006			40
2146		Denver		CO			—			875			5,693			—			875			5,693			6,568			(233	)		2012			45
1000		Greenwood Village		CO			—			3,367			43,610			890			3,367			43,704			47,071			(7,127	)		2006			40
1234		Lakewood		CO			—			3,012			31,913			321			3,012			31,436			34,448			(5,710	)		2006			40
2091		Montrose		CO			—			1,078			24,224			—			1,078			24,224			25,302			(745	)		2012			50
2085		Glastonbury		CT			—			3,743			9,766			—			3,743			9,766			13,509			(382	)		2012			45
2144		Glastonbury		CT			—			1,658			16,046			—			1,658			16,046			17,704			(563	)		2012			45
730		Torrington		CT			12,284			166			11,001			—			166			10,591			10,757			(2,294	)		2005			40
1010		Woodbridge		CT			—			2,352			9,929			224			2,363			9,680			12,043			(1,808	)		2006			40
538		Altamonte Springs		FL			—			1,530			7,956			—			1,530			7,136			8,666			(1,961	)		2002			40
861		Apopka		FL			5,733			920			4,816			—			920			4,716			5,636			(977	)		2006			35
852		Boca Raton		FL			—			4,730			17,532			2,619			4,730			19,741			24,471			(4,689	)		2006			30
1001		Boca Raton		FL			11,387			2,415			17,923			—			2,415			17,561			19,976			(2,923	)		2006			40
544		Boynton Beach		FL			7,856			1,270			4,773			—			1,270			4,773			6,043			(1,293	)		2003			40
1963		Boynton Beach		FL			28,171			2,550			31,521			1,364			2,550			32,885			35,435			(3,716	)		2011			30
1964		Boynton Beach		FL			3,944			570			5,649			471			570			6,120			6,690			(942	)		2011			30
539		Clearwater		FL			—			2,250			2,627			—			2,250			2,627			4,877			(721	)		2002			40
746		Clearwater		FL			17,309			3,856			12,176			—			3,856			11,321			15,177			(3,490	)		2005			40
862		Clermont		FL			8,120			440			6,518			—			440			6,418			6,858			(1,329	)		2006			35
1002		Coconut Creek		FL			13,617			2,461			16,006			—			2,461			15,620			18,081			(2,600	)		2006			40
492		Delray Beach		FL			11,183			850			6,637			—			850			6,637			7,487			(1,610	)		2002			43
850		Gainesville		FL			15,715			1,020			13,490			—			1,020			13,090			14,110			(2,481	)		2006			40
1095		Gainesville		FL			—			1,221			12,226			—			1,221			12,001			13,222			(2,175	)		2006			40
490		Jacksonville		FL			43,240			3,250			25,936			4,560			3,250			30,496			33,746			(8,782	)		2002			35
1096		Jacksonville		FL			—			1,587			15,616			—			1,587			15,298			16,885			(2,773	)		2006			40
855		Lantana		FL			—			3,520			26,452			—			3,520			25,652			29,172			(6,342	)		2006			30
1968		Largo		FL			49,413			2,920			64,989			4,176			2,920			69,165			72,085			(8,000	)		2011			30
731		Ocoee		FL			16,100			2,096			9,322			—			2,096			8,801			10,897			(1,907	)		2005			40
859		Oviedo		FL			8,371			670			8,071			—			670			7,971			8,641			(1,651	)		2006			35
1970		Palm Beach Gardens		FL			27,210			4,820			24,937			11,808			4,820			36,745			41,565			(3,690	)		2011			30
1017		Palm Harbor		FL			—			1,462			16,774			500			1,462			16,888			18,350			(3,104	)		2006			40
732		Port Orange		FL			15,026			2,340			9,898			—			2,340			9,377			11,717			(2,032	)		2005			40
1971		Sarasota		FL			22,782			3,050			29,516			1,265			3,050			30,780			33,830			(3,475	)		2011			30
802		St. Augustine		FL			14,419			830			11,627			—			830			11,227			12,057			(2,673	)		2005			35
2194		Springtree		FL			3,871			1,066			15,874			—			1,066			15,874			16,940			(312	)		2013			45
692		Sun City Center		FL			—			510			6,120			—			510			5,865			6,375			(1,592	)		2004			35
698		Sun City Center		FL			—			3,466			70,810			—			3,466			69,750			73,216			(18,886	)		2004			34
1097		Tallahassee		FL			—			1,331			19,039			—			1,331			18,695			20,026			(3,388	)		2006			40
224		Tampa		FL			—			600			5,566			686			696			6,134			6,830			(2,116	)		1997			45
849		Tampa		FL			11,865			800			11,340			—			800			10,940			11,740			(2,074	)		2006			40
1257		Vero Beach		FL			—			2,035			34,993			201			2,035			33,634			35,669			(6,093	)		2006			40
1605		Vero Beach		FL			—			700			16,234			—			700			16,234			16,934			(1,777	)		2010			35
1976		West Palm Beach		FL			—			390			2,241			172			390			2,413			2,803			(321	)		2011			30
1098		Alpharetta		GA			—			793			8,761			775			793			9,250			10,043			(1,631	)		2006			40
1099		Atlanta		GA			—			687			5,507			1,235			687			6,342			7,029			(1,034	)		2006			40
1169		Atlanta		GA			—			2,665			5,911			455			2,669			6,092			8,761			(1,113	)		2006			40
2108		Buford		GA			—			562			3,604			—			562			3,604			4,166			(143	)		2012			45
2109		Buford		GA			—			536			3,142			—			536			3,142			3,678			(124	)		2012			45
2123		Buford		GA			—			1,987			6,561			—			1,987			6,561			8,548			(268	)		2012			45
2053		Canton		GA			—			401			17,888			—			401			17,888			18,289			(507	)		2012			50
2155		Commerce		GA			—			737			8,228			—			737			8,228			8,965			(295	)		2012			45
2165		Hartwell		GA			—			368			6,337			—			368			6,337			6,705			(203	)		2012			45
2066		Lawrenceville		GA			—			581			2,669			—			581			2,669			3,250			(129	)		2012			45
1241		Lilburn		GA			—			907			17,340			36			907			16,819			17,726			(3,049	)		2006			40
2167		Lithia Springs		GA			—			1,031			6,954			—			1,031			6,954			7,985			(280	)		2012			40
2105		Macon		GA			—			814			10,890			—			814			10,890			11,704			(324	)		2012			45
1112		Marietta		GA			—			894			6,944			552			904			7,220			8,124			(1,323	)		2006			40
2156		Marietta		GA			—			987			4,818			—			987			4,818			5,805			(196	)		2012			45
2086		Newnan		GA			—			1,227			4,202			—			1,227			4,202			5,429			(188	)		2012			45
2147		Stone Mountain		GA			—			264			3,182			—			264			3,182			3,446			(125	)		2012			45
2118		Woodstock		GA			—			764			7,334			—			764			7,334			8,098			(250	)		2012			45
2157		Woodstock		GA			—			1,926			12,757			—			1,926			12,757			14,683			(434	)		2012			45
1088		Davenport		IA			—			511			8,039			—			511			7,868			8,379			(1,426	)		2006			40
1093		Marion		IA			—			502			6,865			—			502			6,713			7,215			(1,217	)		2006			40
2166		Sioux City		IA			—			197			8,078			—			197			8,078			8,275			(299	)		2012			45
1091		Bloomington		IL			—			798			13,091			—			798			12,832			13,630			(2,326	)		2006			40
1587		Burr Ridge		IL			—			2,640			23,902			912			2,704			24,749			27,453			(4,132	)		2010			25
1089		Champaign		IL			—			101			4,207			1,592			279			5,463			5,742			(867	)		2006			40
1157		Hoffman Estates		IL			—			1,701			12,037			244			1,704			11,695			13,399			(2,142	)		2006			40
1090		Macomb		IL			—			81			6,062			—			81			5,905			5,986			(1,070	)		2006			40
1143		Mt. Vernon		IL			—			296			15,935			3,562			512			18,949			19,461			(3,136	)		2006			40
1969		Niles		IL			26,079			3,790			32,912			2,590			3,790			35,503			39,293			(4,165	)		2011			30
1005		Oak Park		IL			25,685			3,476			35,259			764			3,476			35,477			38,953			(5,778	)		2006			40
1961		Olympia Fields		IL			29,470			4,120			29,400			772			4,120			30,172			34,292			(3,556	)		2011			30
1162		Orland Park		IL			—			2,623			23,154			224			2,623			22,748			25,371			(4,129	)		2006			40
1092		Peoria		IL			—			404			10,050			—			404			9,840			10,244			(1,784	)		2006			40
1588		Prospect Heights		IL			—			2,680			20,299			953			2,725			21,208			23,933			(3,626	)		2010			25
1952		Vernon Hills		IL			43,249			4,900			45,854			456			4,900			46,309			51,209			(5,276	)		2011			30
1237		Wilmette		IL			—			1,100			9,373			—			1,100			9,149			10,249			(1,658	)		2006			40
379		Evansville		IN			—			500			9,302			—			500			7,762			8,262			(2,445	)		1999			45
1144		Indianapolis		IN			—			1,197			7,718			—			1,197			7,486			8,683			(1,357	)		2006			40
1145		Indianapolis		IN			—			1,144			8,261			7,371			1,144			15,399			16,543			(2,394	)		2006			40
457		Jasper		IN			—			165			5,952			359			165			6,311			6,476			(2,263	)		2001			35
2047		Kokomo		IN			—			296			3,245			—			296			3,245			3,541			(278	)		2012			30
1146		West Lafayette		IN			—			813			10,876			—			813			10,626			11,439			(1,926	)		2006			40
1170		Edgewood		KY			—			1,868			4,934			339			1,916			4,796			6,712			(888	)		2006			40
697		Lexington		KY			8,010			2,093			16,917			—			2,093			16,299			18,392			(5,159	)		2004			30
1105		Louisville		KY			—			1,499			26,252			240			1,513			25,868			27,381			(4,739	)		2006			40
2115		Murray		KY			—			288			7,400			—			288			7,400			7,688			(279	)		2012			45
2135		Paducah		KY			—			621			16,768			—			621			16,768			17,389			(476	)		2012			50
1013		Danvers		MA			—			4,616			30,692			243			4,621			30,344			34,965			(5,560	)		2006			40
1151		Dartmouth		MA			—			3,145			6,880			516			3,176			7,117			10,293			(1,293	)		2006			40
1012		Dedham		MA			—			3,930			21,340			267			3,930			21,032			24,962			(3,848	)		2006			40
1158		Plymouth		MA			—			2,434			9,027			441			2,438			8,987			11,425			(1,638	)		2006			40
1153		Baltimore		MD			—			1,684			18,889			380			1,695			18,835			20,530			(3,419	)		2006			40
1249		Frederick		MD			—			609			9,158			320			609			9,234			9,843			(1,681	)		2006			40
1011		Pikesville		MD			—			1,416			8,854			288			1,416			8,681			10,097			(1,662	)		2006			40
281		Westminster		MD			15,079			768			5,251			—			768			4,853			5,621			(1,550	)		1998			45
546		Cape Elizabeth		ME			—			630			3,524			93			630			3,617			4,247			(975	)		2003			40
545		Saco		ME			—			80			2,363			155			80			2,518			2,598			(675	)		2003			40
1258		Auburn Hills		MI			—			2,281			10,692			—			2,281			10,692			12,973			(1,938	)		2006			40
1248		Farmington Hills		MI			—			1,013			12,119			307			1,013			12,082			13,095			(2,265	)		2006			40
696		Holland		MI			—			787			51,410			—			787			50,172			50,959			(15,915	)		2004			29
1094		Portage		MI			—			100			5,700			4,617			100			9,950			10,050			(1,661	)		2006			40
472		Sterling Heights		MI			—			920			7,326			—			920			7,326			8,246			(2,582	)		2001			35
1259		Sterling Heights		MI			—			1,593			11,500			—			1,593			11,181			12,774			(2,027	)		2006			40
2143		Champlin		MN			—			1,576			26,725			—			1,576			26,725			28,301			(774	)		2012			50
1235		Des Peres		MO			—			4,361			20,664			—			4,361			20,046			24,407			(3,633	)		2006			40
1236		Richmond Heights		MO			—			1,744			24,232			—			1,744			23,548			25,292			(4,268	)		2006			40
853		St. Louis		MO			—			2,500			20,343			—			2,500			19,853			22,353			(5,018	)		2006			30
2081		St. Peters		MO			—			1,377			31,508			—			1,377			31,508			32,885			(1,079	)		2012			45
2074		Oxford		MS			—			2,003			14,140			—			2,003			14,140			16,143			(458	)		2012			45
842		Great Falls		MT			—			500			5,683			—			500			5,423			5,923			(1,062	)		2006			40
2163		Great Falls		MT			—			252			9,908			—			252			9,908			10,160			(310	)		2012			45
878		Charlotte		NC			—			710			9,559			—			710			9,159			9,869			(1,622	)		2006			40
1584		Charlotte		NC			—			2,052			6,529			—			2,052			6,529			8,581			(855	)		2010			40
1119		Concord		NC			—			601			7,615			166			612			7,546			8,158			(1,407	)		2006			40
2126		Mooresville		NC			—			2,538			37,617			—			2,538			37,617			40,155			(1,134	)		2012			50
1254		Raleigh		NC			—			1,191			11,532			271			1,191			11,517			12,708			(2,081	)		2006			40
2127		Minot		ND			—			685			16,047			—			685			16,047			16,732			(517	)		2012			45
2080		Kearney		NE			—			856			22,584			—			856			22,584			23,440			(714	)		2012			45
2169		Lexington		NE			—			474			8,405			—			474			8,405			8,879			(365	)		2012			40
2168		Mc Cook		NE			—			1,024			13,789			—			1,024			13,789			14,813			(598	)		2012			40
2129		Seward		NE			—			792			18,276			—			792			18,276			19,068			(678	)		2012			40
2119		Wayne		NE			—			1,005			13,953			—			1,005			13,953			14,958			(474	)		2012			45
1599		Cherry Hill		NJ			—			2,420			11,042			1,000			2,420			11,492			13,912			(1,448	)		2010			25
1239		Cresskill		NJ			—			4,684			53,927			63			4,684			53,004			57,688			(9,613	)		2006			40
734		Hillsborough		NJ			15,554			1,042			10,042			—			1,042			9,576			10,618			(2,075	)		2005			40
1242		Madison		NJ			—			3,157			19,909			52			3,157			19,375			22,532			(3,519	)		2006			40
733		Manahawkin		NJ			13,571			921			9,927			—			921			9,461			10,382			(2,050	)		2005			40
1014		Paramus		NJ			—			4,280			31,684			207			4,280			31,191			35,471			(5,704	)		2006			40
1231		Saddle River		NJ			—			1,784			15,625			236			1,784			15,417			17,201			(2,817	)		2006			40
245		Voorhees Township		NJ			8,421			900			7,629			—			900			7,629			8,529			(2,468	)		1998			45
213		Albuquerque		NM			—			767			9,324			—			767			8,825			9,592			(3,253	)		1996			45
2120		Albuquerque		NM			—			2,224			8,049			—			2,224			8,049			10,273			(297	)		2012			45
2161		Rio Rancho		NM			—			1,154			13,726			—			1,154			13,726			14,880			(480	)		2012			40
2121		Roswell		NM			—			618			7,038			—			618			7,038			7,656			(294	)		2012			45
2150		Roswell		NM			—			837			8,614			—			837			8,614			9,451			(373	)		2012			45
796		Las Vegas		NV			—			1,960			5,816			—			1,960			5,426			7,386			(1,142	)		2005			40
2110		Las Vegas		NV			—			667			14,469			—			667			14,469			15,136			(556	)		2012			45
1252		Brooklyn		NY			—			8,117			23,627			580			8,117			23,631			31,748			(4,481	)		2006			40
1256		Brooklyn		NY			—			5,215			39,052			179			5,215			38,380			43,595			(6,972	)		2006			40
2177		Clifton Park		NY			—			2,257			11,470			—			2,257			11,470			13,727			(413	)		2012			50
2176		Greece		NY			—			666			9,569			—			666			9,569			10,235			(341	)		2012			45
2178		Greece		NY			—			601			7,362			—			601			7,362			7,963			(268	)		2012			45
2174		Orchard Park		NY			—			726			17,735			—			726			17,735			18,461			(668	)		2012			45
2175		Orchard Park		NY			—			478			11,961			—			478			11,961			12,439			(445	)		2012			45
473		Cincinnati		OH			—			600			4,428			—			600			4,428			5,028			(1,560	)		2001			35
841		Columbus		OH			6,388			970			7,806			1,023			970			8,438			9,408			(1,608	)		2006			40
857		Fairborn		OH			6,557			810			8,311			—			810			8,011			8,821			(1,697	)		2006			36
1147		Fairborn		OH			—			298			10,704			3,068			298			13,541			13,839			(2,322	)		2006			40
1386		Marietta		OH			—			1,069			11,435			—			1,069			11,230			12,299			(1,826	)		2007			40
1253		Poland		OH			—			695			10,444			42			695			10,147			10,842			(1,838	)		2006			40
1159		Willoughby		OH			—			1,177			9,982			295			1,194			9,855			11,049			(1,797	)		2006			40
2158		Broken Arrow		OK			—			1,115			18,852			—			1,115			18,852			19,967			(577	)		2012			45
2122		Muskogee		OK			—			412			2,815			—			412			2,815			3,227			(135	)		2012			45
1171		Oklahoma City		OK			—			801			4,904			265			811			4,776			5,587			(883	)		2006			40
2082		Oklahoma City		OK			—			1,344			3,943			—			1,344			3,943			5,287			(171	)		2012			45
2083		Oklahoma City		OK			—			2,116			28,007			—			2,116			28,007			30,123			(873	)		2012			45
2070		Tahlequah		OK			—			256			5,648			—			256			5,648			5,904			(205	)		2012			45
1160		Tulsa		OK			—			1,115			11,028			282			1,129			10,607			11,736			(1,937	)		2006			40
2130		Ashland		OR			—			—			19,303			—			—			19,303			19,303			(632	)		2012			45
2103		Eagle Point		OR			—			609			12,117			—			609			12,117			12,726			(383	)		2012			45
2179		Eldorado Heights		OR			—			311			7,868			—			311			7,868			8,179			(199	)		2013			45
2098		Eugene		OR			—			1,082			18,858			—			1,082			18,858			19,940			(581	)		2012			50
2104		Eugene		OR			—			653			13,568			—			653			13,568			14,221			(426	)		2012			45
2136		Grants Pass		OR			—			430			3,267			—			430			3,267			3,697			(134	)		2012			50
2137		Grants Pass		OR			—			1,064			16,124			—			1,064			16,124			17,188			(466	)		2012			50
2138		Grants Pass		OR			—			618			2,932			—			618			2,932			3,550			(182	)		2012			50
2145		Grants Pass		OR			—			775			13,230			—			775			13,230			14,005			(409	)		2012			45
2139		Gresham		OR			—			465			6,403			—			465			6,403			6,868			(206	)		2012			50
2182		Hermiston Terrace		OR			3,004			582			8,087			—			582			8,087			8,669			(171	)		2013			45
2140		Lebanon		OR			—			505			12,571			—			505			12,571			13,076			(407	)		2012			50
2152		McMinnville		OR			—			3,203			24,909			—			3,203			24,909			28,112			(1,210	)		2012			45
2159		McMinnville		OR			—			1,374			6,118			—			1,374			6,118			7,492			(266	)		2012			45
2090		Monmouth		OR			—			490			1,278			—			490			1,278			1,768			(72	)		2012			50
2106		Monmouth		OR			—			603			8,538			—			603			8,538			9,141			(300	)		2012			45
2089		Newberg		OR			—			1,889			16,855			—			1,889			16,855			18,744			(520	)		2012			50
2133		Portland		OR			—			1,615			12,030			—			1,615			12,030			13,645			(353	)		2012			50
2151		Portland		OR			—			1,677			9,469			—			1,677			9,469			11,146			(359	)		2012			45
2171		Portland		OR			—			—			16,087			—			—			16,087			16,087			(450	)		2012			50
2050		Redmond		OR			—			1,229			21,921			—			1,229			21,921			23,150			(606	)		2012			50
2131		River Road		OR			3,058			551			6,454			—			551			6,454			7,005			(148	)		2013			45
2084		Roseburg		OR			—			1,042			12,090			—			1,042			12,090			13,132			(424	)		2012			45
2134		Scappoose		OR			—			353			1,258			—			353			1,258			1,611			(58	)		2012			50
2153		Scappoose		OR			—			971			7,116			—			971			7,116			8,087			(287	)		2012			45
2051		Springfield		OR			—			1,124			22,515			—			1,124			22,515			23,639			(663	)		2012			50
2057		Springfield		OR			—			527			6,035			—			527			6,035			6,562			(221	)		2012			45
2056		Stayton		OR			—			48			569			—			48			569			617			(35	)		2012			45
2058		Stayton		OR			—			253			8,621			—			253			8,621			8,874			(302	)		2012			45
2088		Tualatin		OR			—			—			6,326			—			—			6,326			6,326			(286	)		2012			45
2180		Windfield Village		OR			3,731			580			9,817			—			580			9,817			10,397			(225	)		2013			45
1163		Haverford		PA			—			16,461			108,816			3,311			16,461			110,514			126,975			(20,413	)		2006			40
2063		Selinsgrove		PA			—			529			9,111			—			529			9,111			9,640			(355	)		2012			45
1967		Cumberland		RI			—			2,630			19,050			770			2,630			19,820			22,450			(2,331	)		2011			30
1959		East Providence		RI			14,948			1,890			13,989			1,084			1,890			15,073			16,963			(1,731	)		2011			30
1960		Greenwich		RI			8,187			450			11,845			1,239			450			13,084			13,534			(1,567	)		2011			30
1972		Smithfield		RI			—			1,250			17,816			653			1,250			18,469			19,719			(2,259	)		2011			30
1973		South Kingstown		RI			—			1,390			12,551			630			1,390			13,182			14,572			(1,555	)		2011			30
1975		Tiverton		RI			—			3,240			25,735			651			3,240			26,386			29,626			(3,036	)		2011			30
1962		Warwick		RI			14,627			1,050			17,389			1,369			1,050			18,756			19,806			(2,308	)		2011			30
1104		Aiken		SC			—			357			14,832			151			363			14,471			14,834			(2,663	)		2006			40
1100		Charleston		SC			—			885			14,124			292			896			14,075			14,971			(2,602	)		2006			40
1109		Columbia		SC			—			408			7,527			131			412			7,458			7,870			(1,380	)		2006			40
2154		Florence		SC			—			255			4,052			—			255			4,052			4,307			(176	)		2012			45
306		Georgetown		SC			—			239			3,008			—			239			3,008			3,247			(970	)		1998			45
879		Greenville		SC			—			1,090			12,558			—			1,090			12,058			13,148			(2,135	)		2006			40
1172		Greenville		SC			—			993			16,314			437			1,006			15,838			16,844			(2,865	)		2006			40
2059		Greenville		SC			—			149			3,827			—			149			3,827			3,976			(165	)		2012			45
2099		Hilton Head Island		SC			—			828			6,285			—			828			6,285			7,113			(260	)		2012			45
2111		Hilton Head Island		SC			—			1,107			1,873			—			1,107			1,873			2,980			(99	)		2012			45
2112		Hilton Head Island		SC			—			621			2,234			—			621			2,234			2,855			(110	)		2012			45
305		Lancaster		SC			—			84			2,982			—			84			2,982			3,066			(877	)		1998			45
880		Myrtle Beach		SC			—			900			10,913			—			900			10,513			11,413			(1,862	)		2006			40
312		Rock Hill		SC			—			203			2,671			—			203			2,671			2,874			(841	)		1998			45
1113		Rock Hill		SC			—			695			4,119			322			795			4,126			4,921			(835	)		2006			40
2076		Rock Hill		SC			—			919			14,741			—			919			14,741			15,660			(506	)		2012			45
2093		Rock Hill		SC			—			503			4,281			—			503			4,281			4,784			(164	)		2012			45
313		Sumter		SC			—			196			2,623			—			196			2,623			2,819			(846	)		1998			45
2067		West Columbia		SC			—			220			2,662			—			220			2,662			2,882			(130	)		2012			45
2132		Cordova		TN			—			2,167			5,829			—			2,167			5,829			7,996			(224	)		2012			45
2060		Franklin		TN			—			2,475			27,337			—			2,475			27,337			29,812			(857	)		2012			45
2100		Hendersonville		TN			—			1,298			2,464			—			1,298			2,464			3,762			(134	)		2012			45
2073		Kingsport		TN			—			1,113			8,625			—			1,113			8,625			9,738			(301	)		2012			45
2071		Memphis		TN			—			1,315			9,787			—			1,315			9,787			11,102			(298	)		2012			45
1003		Nashville		TN			11,000			812			16,983			2,524			812			18,759			19,571			(2,733	)		2006			40
2094		Nashville		TN			—			1,444			14,436			—			1,444			14,436			15,880			(449	)		2012			45
860		Oak Ridge		TN			8,395			500			4,741			—			500			4,641			5,141			(961	)		2006			35
843		Abilene		TX			1,748			300			2,830			—			300			2,710			3,010			(514	)		2006			39
2107		Amarillo		TX			—			1,315			26,838			—			1,315			26,838			28,153			(824	)		2012			45
1004		Arlington		TX			14,076			2,002			19,110			—			2,002			18,729			20,731			(3,118	)		2006			40
1116		Arlington		TX			—			2,494			12,192			249			2,540			11,873			14,413			(2,201	)		2006			40
511		Austin		TX			—			2,960			41,645			—			2,960			41,645			44,605			(14,229	)		2002			30
1589		Austin		TX			—			2,860			17,358			497			2,973			17,742			20,715			(3,213	)		2010			25
202		Beaumont		TX			—			145			10,404			—			145			10,020			10,165			(3,768	)		1996			45
2075		Bedford		TX			—			1,204			26,845			—			1,204			26,845			28,049			(825	)		2012			45
844		Burleson		TX			3,992			1,050			5,242			—			1,050			4,902			5,952			(929	)		2006			40
848		Cedar Hill		TX			8,548			1,070			11,554			—			1,070			11,104			12,174			(2,105	)		2006			40
1325		Cedar Hill		TX			—			440			7,494			—			440			7,494			7,934			(1,697	)		2007			40
2164		Dallas		TX			—			2,120			8,986			—			2,120			8,986			11,106			(324	)		2012			45
513		Fort Worth		TX			—			2,830			50,832			—			2,830			50,832			53,662			(17,367	)		2002			30
506		Friendswood		TX			22,392			400			7,354			—			400			7,354			7,754			(1,879	)		2002			45
217		Houston		TX			11,354			835			7,195			—			835			7,195			8,030			(2,551	)		1997			45
491		Houston		TX			—			2,470			21,710			750			2,470			22,460			24,930			(7,632	)		2002			35
1106		Houston		TX			—			1,008			15,333			183			1,020			15,098			16,118			(2,773	)		2006			40
1111		Houston		TX			—			1,877			25,372			247			1,961			24,491			26,452			(4,495	)		2006			40
1955		Houston		TX			49,123			9,820			50,079			3,543			9,820			53,621			63,441			(6,683	)		2011			30
1957		Houston		TX			32,260			8,170			37,285			2,089			8,170			39,375			47,545			(4,692	)		2011			30
1958		Houston		TX			29,704			2,910			37,443			2,393			2,910			39,837			42,747			(4,797	)		2011			30
2068		Houston		TX			—			985			18,824			—			985			18,824			19,809			(585	)		2012			45
820		Irving		TX			10,569			710			9,949			—			710			9,359			10,069			(2,139	)		2005			35
2149		Kerrville		TX			—			1,459			33,408			—			1,459			33,408			34,867			(1,082	)		2012			45
2124		Lubbock		TX			—			1,143			4,656			—			1,143			4,656			5,799			(195	)		2012			45
845		North Richland Hills		TX			2,927			520			5,117			—			520			4,807			5,327			(911	)		2006			40
846		North Richland Hills		TX			6,483			870			9,259			—			870			8,819			9,689			(1,911	)		2006			35
2113		North Richland Hills		TX			—			909			11,337			—			909			11,337			12,246			(353	)		2012			45
1102		Plano		TX			—			494			12,518			145			505			12,247			12,752			(2,249	)		2006			40
2064		Plano		TX			—			590			6,930			—			590			6,930			7,520			(253	)		2012			45
2162		Portland		TX			—			1,233			14,001			—			1,233			14,001			15,234			(506	)		2012			45
494		San Antonio		TX			7,721			730			3,961			—			730			3,961			4,691			(1,034	)		2002			45
1590		San Antonio		TX			—			2,860			17,030			282			2,880			17,292			20,172			(3,125	)		2010			25
2116		Sherman		TX			—			209			3,492			—			209			3,492			3,701			(135	)		2012			45
1954		Sugar Land		TX			31,770			3,420			36,846			2,496			3,420			39,341			42,761			(4,537	)		2011			30
1103		The Woodlands		TX			—			802			17,358			228			869			17,071			17,940			(3,143	)		2006			40
195		Victoria		TX			12,496			175			4,290			3,101			175			7,018			7,193			(2,016	)		1995			43
847		Waxahachie		TX			2,004			390			3,879			—			390			3,659			4,049			(694	)		2006			40
1953		Webster		TX			30,356			4,780			30,854			2,346			4,780			33,200			37,980			(3,933	)		2011			30
2069		Cedar City		UT			—			437			8,706			—			437			8,706			9,143			(280	)		2012			45
1161		Salt Lake City		UT			—			2,621			22,072			287			2,654			21,371			24,025			(3,886	)		2006			40
2101		St. George		UT			—			683			9,435			—			683			9,435			10,118			(315	)		2012			45
1015		Arlington		VA			—			4,320			19,567			455			4,320			19,445			23,765			(3,648	)		2006			40
1244		Arlington		VA			—			3,833			7,076			206			3,833			7,045			10,878			(1,277	)		2006			40
1245		Arlington		VA			—			7,278			37,407			392			7,278			36,914			44,192			(6,734	)		2006			40
881		Chesapeake		VA			—			1,090			12,444			—			1,090			11,944			13,034			(2,115	)		2006			40
1247		Falls Church		VA			—			2,228			8,887			119			2,228			8,791			11,019			(1,629	)		2006			40
1164		Fort Belvoir		VA			—			11,594			99,528			6,587			11,594			104,117			115,711			(19,524	)		2006			40
1250		Leesburg		VA			—			607			3,236			82			607			3,171			3,778			(2,140	)		2006			35
1016		Richmond		VA			—			2,110			11,469			281			2,110			11,324			13,434			(2,099	)		2006			40


																		Gross Amount at Which Carried
									Initial Cost to Company									As of December 31, 2013															Life on Which
																																	Depreciation in
																																	Latest Income
															Costs																		Statement is
															Capitalized																		Computed
															Subsequent to
City				State		Encumbrances at			Land			Buildings and			Acquisition			Land			Buildings and			Total⁽¹⁾			Accumulated			Year
						December 31, 2013						Improvements									Improvements						Depreciation			Acquired/
																														Constructed
1246		Sterling		VA			—			2,360			22,932			412			2,360			22,832			25,192			(4,186	)		2006			40
2077		Sterling		VA			—			1,046			15,788			—			1,046			15,788			16,834			(476	)		2012			45
225		Woodbridge		VA			—			950			6,983			—			950			6,983			7,933			(2,365	)		1997			45
1173		Bellevue		WA			—			3,734			16,171			210			3,737			15,813			19,550			(2,874	)		2006			40
2095		College Place		WA			—			758			8,051			—			758			8,051			8,809			(299	)		2012			45
1240		Edmonds		WA			—			1,418			16,502			49			1,418			16,080			17,498			(2,923	)		2006			40
2172		Ellensburg		WA			—			759			5,699			—			759			5,699			6,458			(263	)		2012			40
2160		Kenmore		WA			—			3,284			16,641			—			3,284			16,641			19,925			(514	)		2012			45
797		Kirkland		WA			—			1,000			13,403			—			1,000			13,043			14,043			(2,745	)		2005			40
1174		Lynnwood		WA			—			1,203			7,415			326			1,203			7,741			8,944			(1,385	)		2006			40
1251		Mercer Island		WA			—			4,209			8,123			318			4,209			8,236			12,445			(1,593	)		2006			40
2141		Moses Lake		WA			—			429			4,417			—			429			4,417			4,846			(223	)		2012			50
2096		Poulsbo		WA			—			1,801			18,068			—			1,801			18,068			19,869			(603	)		2012			45
2102		Richland		WA			—			249			5,067			—			249			5,067			5,316			(162	)		2012			45
794		Shoreline		WA			8,973			1,590			10,671			—			1,590			10,261			11,851			(2,159	)		2005			40
795		Shoreline		WA			—			4,030			26,421			—			4,030			25,651			29,681			(5,322	)		2005			39
1175		Snohomish		WA			—			1,541			10,228			195			1,541			10,164			11,705			(1,834	)		2006			40
2097		Spokane		WA			—			903			5,363			—			903			5,363			6,266			(233	)		2012			45
2061		Vancouver		WA			—			513			4,556			—			513			4,556			5,069			(187	)		2012			45
2062		Vancouver		WA			—			1,498			9,997			—			1,498			9,997			11,495			(321	)		2012			45
2052		Yakima		WA			—			557			5,897			—			557			5,897			6,454			(202	)		2012			50
2078		Yakima		WA			—			353			5,668			—			353			5,668			6,021			(175	)		2012			45
2114		Yakima		WA			—			721			8,872			—			721			8,872			9,593			(326	)		2012			45
2072		Appleton		WI			—			182			12,581			—			182			12,581			12,763			(395	)		2012			45
2170		Madison		WI			—			834			10,050			—			834			10,050			10,884			(362	)		2012			40
2173		Oakridge		WI			—			801			16,688			—			801			16,688			17,489			(305	)		2013			45
2117		Bridgeport		WV			—			3,174			15,437			—			3,174			15,437			18,611			(652	)		2012			45
2125		Bridgeport		WV			—			3,280			4,181			—			3,280			4,181			7,461			(219	)		2012			45
2142		Cody		WY			—			708			9,926			—			708			9,926			10,634			(281	)		2012			50
2148		Sheridan		WY			—			915			12,047			—			915			12,047			12,962			(404	)		2012			45

						$	1,048,786		$	608,154		$	5,135,147		$	125,352		$	609,792		$	5,178,617		$	5,788,409		$	(758,223	)


Post-acute/skilled nursing
2		Fort Collins		CO			—			499			1,913			1,454			499			3,114			3,613			(3,114	)		1985			25
18		Morrison		CO			—			1,429			5,464			4,019			1,429			8,758			10,187			(8,589	)		1985			24
280		Statesboro		GA			—			168			1,508			—			168			1,509			1,677			(852	)		1992			25
297		Rexburg		ID			—			200			5,310			—			200			5,057			5,257			(2,239	)		1998			35
378		Anderson		IN			—			500			4,724			1,734			500			6,057			6,557			(2,217	)		1999			35
2189		Anderson		IN			—			406			—			6,779			406			6,779			7,185			—			2013			*
384		Angola		IN			—			130			2,900			2,791			130			5,691			5,821			(1,309	)		1999			35
385		Fort Wayne		IN			—			200			4,150			2,667			200			6,817			7,017			(2,113	)		1999			38
386		Fort Wayne		IN			—			140			3,760			—			140			3,760			3,900			(1,522	)		1999			35
387		Huntington		IN			—			30			2,970			338			30			3,308			3,338			(1,253	)		1999			35
373		Kokomo		IN			—			250			4,622			1,294			250			5,653			5,903			(1,589	)		1999			45
454		New Albany		IN			—			230			6,595			—			230			6,595			6,825			(2,402	)		2001			35
484		Tell City		IN			—			95			6,208			1,299			95			7,509			7,604			(1,971	)		2001			45
688		Cynthiana		KY			—			192			4,875			—			192			4,875			5,067			(1,083	)		2004			40
298		Franklin		LA			—			405			3,424			—			405			3,424			3,829			(1,904	)		1998			25
299		Morgan City		LA			—			203			2,050			—			203			2,050			2,253			(1,140	)		1998			25
388		Las Vegas		NV			—			1,300			3,950			4,013			1,300			7,963			9,263			(1,732	)		1999			35
389		Las Vegas		NV			—			1,300			5,800			—			1,300			5,800			7,100			(2,348	)		1999			35
390		Fairborn		OH			—			250			4,850			—			250			4,850			5,100			(1,963	)		1999			35
391		Georgetown		OH			—			130			4,970			—			130			4,970			5,100			(2,012	)		1999			35
392		Port Clinton		OH			—			370			3,630			—			370			3,630			4,000			(1,469	)		1999			35
393		Springfield		OH			—			250			3,950			2,113			250			6,063			6,313			(1,863	)		1999			35
394		Toledo		OH			—			120			5,130			—			120			5,130			5,250			(2,076	)		1999			35
395		Versailles		OH			—			120			4,980			—			120			4,980			5,100			(2,016	)		1999			35
285		Fort Worth		TX			—			243			2,036			268			243			2,304			2,547			(1,296	)		1998			25
296		Ogden		UT			—			250			4,685			—			250			4,432			4,682			(1,941	)		1998			35
681		Fishersville		VA			—			751			7,734			—			751			7,220			7,971			(1,751	)		2004			40
682		Floyd		VA			—			309			2,263			—			309			1,893			2,202			(730	)		2004			25
689		Independence		VA			—			206			8,366			—			206			7,810			8,016			(1,871	)		2004			40
683		Newport News		VA			—			535			6,192			—			535			5,719			6,254			(1,386	)		2004			40
684		Roanoke		VA			—			586			7,159			—			586			6,696			7,282			(1,622	)		2004			40
685		Staunton		VA			—			422			8,681			—			422			8,136			8,558			(1,969	)		2004			40
686		Williamsburg		VA			—			699			4,886			—			699			4,464			5,163			(1,083	)		2004			40
690		Windsor		VA			—			319			7,543			—			319			7,018			7,337			(1,681	)		2004			40
687		Woodstock		VA			—			603			5,395			9			605			4,989			5,594			(1,210	)		2004			40

						$	—		$	13,840		$	162,673		$	28,778		$	13,842		$	185,023		$	198,865		$	(65,316	)


Life science
1482		Brisbane		CA			—			50,989			1,789			39,851			50,989			41,641			92,630			—			2007			**
1481		Carlsbad		CA			—			30,300			—			7,723			30,300			7,723			38,023			—			2007			**
1522		Carlsbad		CA			—			23,475			—			2,816			23,475			2,817			26,292			—			2007			**
1401		Hayward		CA			—			900			7,100			915			900			8,015			8,915			(1,322	)		2007			40
1402		Hayward		CA			—			1,500			6,400			3,465			1,500			9,865			11,365			(1,900	)		2007			40
1403		Hayward		CA			—			1,900			7,100			424			1,900			7,523			9,423			(1,394	)		2007			40
1404		Hayward		CA			—			2,200			17,200			12			2,200			17,212			19,412			(2,762	)		2007			40
1405		Hayward		CA			—			1,000			3,200			7,478			1,000			10,678			11,678			(3,002	)		2007			40
1549		Hayward		CA			—			1,006			4,259			1,551			1,006			5,811			6,817			(1,720	)		2007			29
1550		Hayward		CA			—			677			2,761			5,019			677			7,725			8,402			(1,357	)		2007			29
1551		Hayward		CA			—			661			1,995			3,298			661			5,293			5,954			(652	)		2007			29
1552		Hayward		CA			—			1,187			7,139			594			1,187			7,432			8,619			(1,695	)		2007			29
1553		Hayward		CA			—			1,189			9,465			110			1,189			9,575			10,764			(2,196	)		2007			29
1554		Hayward		CA			—			1,246			5,179			1,829			1,246			7,008			8,254			(2,000	)		2007			29
1555		Hayward		CA			—			1,521			13,546			121			1,521			13,667			15,188			(3,141	)		2007			29
1556		Hayward		CA			—			1,212			5,120			3,315			1,212			8,206			9,418			(1,731	)		2007			29
1424		La Jolla		CA			—			9,600			25,283			7,794			9,648			32,100			41,748			(5,184	)		2007			40
1425		La Jolla		CA			—			6,200			19,883			125			6,276			19,932			26,208			(3,232	)		2007			40
1426		La Jolla		CA			—			7,200			12,412			3,460			7,291			15,781			23,072			(4,441	)		2007			27
1427		La Jolla		CA			—			8,700			16,983			2,059			8,746			18,995			27,741			(4,046	)		2007			30
1947		La Jolla		CA			12,006			2,581			10,534			20			2,581			10,554			13,135			(1,055	)		2011			30
1949		La Jolla		CA			7,921			2,686			11,045			575			2,686			11,620			14,306			(1,269	)		2011			30
1488		Mountain View		CA			—			7,300			25,410			1,914			7,566			27,058			34,624			(4,362	)		2007			40
1489		Mountain View		CA			—			6,500			22,800			1,866			6,500			24,666			31,166			(3,971	)		2007			40
1490		Mountain View		CA			—			4,800			9,500			442			4,800			9,942			14,742			(1,669	)		2007			40
1491		Mountain View		CA			—			4,200			8,400			1,249			4,209			9,640			13,849			(2,087	)		2007			40
1492		Mountain View		CA			—			3,600			9,700			730			3,600			10,430			14,030			(2,284	)		2007			40
1493		Mountain View		CA			—			7,500			16,300			1,904			7,500			17,603			25,103			(2,841	)		2007			40
1494		Mountain View		CA			—			9,800			24,000			203			9,800			24,203			34,003			(3,910	)		2007			40
1495		Mountain View		CA			—			6,900			17,800			3,245			6,900			21,045			27,945			(3,274	)		2007			40
1496		Mountain View		CA			—			7,000			17,000			6,364			7,000			23,364			30,364			(6,429	)		2007			40
1497		Mountain View		CA			—			14,100			31,002			10,111			14,100			41,113			55,213			(10,871	)		2007			40
1498		Mountain View		CA			—			7,100			25,800			8,101			7,100			33,901			41,001			(8,765	)		2007			40
2017		Mountain View		CA			—			—			20,350			(94	)		—			20,256			20,256			(625	)		2013			40
1470		Poway		CA			—			5,826			12,200			5,727			5,826			17,927			23,753			(5,547	)		2007			40
1471		Poway		CA			—			5,978			14,200			4,253			5,978			18,453			24,431			(4,658	)		2007			40
1472		Poway		CA			—			8,654			—			5,804			8,654			5,803			14,457			—			2007			*
1473		Poway		CA			—			17,146			2,405			2,214			17,146			4,620			21,766			—			2007			**
1477		Poway		CA			—			29,943			2,475			17,641			29,943			20,116			50,059			—			2007			**
1478		Poway		CA			—			6,700			14,400			6,145			6,700			20,545			27,245			(6,801	)		2007			40
1499		Redwood City		CA			—			3,400			5,500			1,275			3,407			6,768			10,175			(1,750	)		2007			40
1500		Redwood City		CA			—			2,500			4,100			1,220			2,506			5,314			7,820			(1,369	)		2007			40
1501		Redwood City		CA			—			3,600			4,600			860			3,607			5,452			9,059			(1,159	)		2007			30
1502		Redwood City		CA			—			3,100			5,100			843			3,107			5,690			8,797			(1,153	)		2007			31
1503		Redwood City		CA			—			4,800			17,300			3,280			4,818			20,562			25,380			(3,342	)		2007			31
1504		Redwood City		CA			—			5,400			15,500			930			5,418			16,412			21,830			(2,585	)		2007			31
1505		Redwood City		CA			—			3,000			3,500			635			3,006			4,130			7,136			(1,052	)		2007			40
1506		Redwood City		CA			—			6,000			14,300			3,569			6,018			17,852			23,870			(3,209	)		2007			40
1507		Redwood City		CA			—			1,900			12,800			8,436			1,912			21,224			23,136			(1,783	)		2007			39
1508		Redwood City		CA			—			2,700			11,300			7,095			2,712			18,383			21,095			(1,612	)		2007			39
1509		Redwood City		CA			—			2,700			10,900			6,099			2,712			16,987			19,699			(2,370	)		2007			40
1510		Redwood City		CA			—			2,200			12,000			5,203			2,212			17,192			19,404			(3,342	)		2007			38
1511		Redwood City		CA			—			2,600			9,300			1,539			2,612			10,828			13,440			(2,099	)		2007			26
1512		Redwood City		CA			—			3,300			18,000			123			3,300			18,123			21,423			(2,901	)		2007			40
1513		Redwood City		CA			—			3,300			17,900			292			3,300			18,192			21,492			(2,885	)		2007			40
679		San Diego		CA			—			7,872			34,617			17,690			8,272			51,907			60,179			(13,568	)		2002			39
837		San Diego		CA			—			4,630			2,029			8,967			4,630			10,995			15,625			(2,235	)		2006			31
838		San Diego		CA			—			2,040			902			4,975			2,040			5,878			7,918			(694	)		2006			40
839		San Diego		CA			—			3,940			3,184			4,584			3,951			6,712			10,663			(2,960	)		2006			40
840		San Diego		CA			—			5,690			4,579			686			5,703			5,252			10,955			(1,327	)		2006			40
1418		San Diego		CA			—			11,700			31,243			6,370			11,700			37,613			49,313			(6,987	)		2007			40
1420		San Diego		CA			—			6,524			—			3,568			6,524			3,566			10,090			—			2007			**
1421		San Diego		CA			—			7,000			33,779			—			7,000			33,779			40,779			(5,419	)		2007			40
1422		San Diego		CA			—			7,179			3,687			846			7,184			4,528			11,712			(941	)		2007			30
1423		San Diego		CA			—			8,400			33,144			8			8,400			33,152			41,552			(5,317	)		2007			40
1514		San Diego		CA			—			5,200			—			—			5,200			—			5,200			—			2007			**
1558		San Diego		CA			—			7,740			22,654			2,100			7,875			24,620			32,495			(3,852	)		2007			38
1948		San Diego		CA			24,785			5,879			25,305			326			5,879			25,631			31,510			(2,585	)		2011			30
1950		San Diego		CA			1,009			884			2,796			—			884			2,796			3,680			(280	)		2011			30
2197		San Diego		CA			—			7,621			3,913			3,905			7,626			7,813			15,439			(1,072	)		2010			33
1407		South San Francisco		CA			—			28,600			48,700			5,341			28,600			54,040			82,640			(11,427	)		2007			35
1408		South San Francisco		CA			—			9,000			17,800			1,023			9,000			18,823			27,823			(2,987	)		2007			40
1409		South San Francisco		CA			—			18,000			38,043			421			18,000			38,464			56,464			(6,138	)		2007			40
1410		South San Francisco		CA			—			4,900			18,100			157			4,900			18,256			23,156			(2,921	)		2007			40
1411		South San Francisco		CA			—			8,000			27,700			363			8,000			28,062			36,062			(4,459	)		2007			40
1412		South San Francisco		CA			—			10,100			22,521			239			10,100			22,761			32,861			(3,671	)		2007			40
1413		South San Francisco		CA			—			8,000			28,299			252			8,000			28,550			36,550			(4,558	)		2007			40
1414		South San Francisco		CA			—			3,700			20,800			203			3,700			21,004			24,704			(3,386	)		2007			40
1430		South San Francisco		CA			—			10,700			23,621			212			10,700			23,832			34,532			(3,837	)		2007			40
1431		South San Francisco		CA			—			7,000			15,500			157			7,000			15,657			22,657			(2,498	)		2007			40
1435		South San Francisco		CA			—			13,800			42,500			32,853			13,800			75,353			89,153			(9,209	)		2008			40
1436		South San Francisco		CA			—			14,500			45,300			34,087			14,500			79,387			93,887			(9,638	)		2008			40
1437		South San Francisco		CA			—			9,400			24,800			16,980			9,400			41,780			51,180			(4,170	)		2008			40
1439		South San Francisco		CA			—			11,900			68,848			70			11,900			68,918			80,818			(11,049	)		2007			40
1440		South San Francisco		CA			—			10,000			57,954			—			10,000			57,954			67,954			(9,297	)		2007			40
1441		South San Francisco		CA			—			9,300			43,549			—			9,300			43,549			52,849			(6,986	)		2007			40
1442		South San Francisco		CA			—			11,000			47,289			81			11,000			47,370			58,370			(7,615	)		2007			40
1443		South San Francisco		CA			—			13,200			60,932			1,158			13,200			62,090			75,290			(9,285	)		2007			40
1444		South San Francisco		CA			—			10,500			33,776			353			10,500			34,128			44,628			(5,480	)		2007			40
1445		South San Francisco		CA			—			10,600			34,083			—			10,600			34,083			44,683			(5,468	)		2007			40
1448		South San Francisco		CA			—			14,100			71,344			52			14,100			71,396			85,496			(11,452	)		2007			40
1449		South San Francisco		CA			—			12,800			63,600			472			12,800			64,072			76,872			(10,340	)		2007			40
1450		South San Francisco		CA			—			11,200			79,222			20			11,200			79,242			90,442			(12,711	)		2007			40
1451		South San Francisco		CA			—			7,200			50,856			66			7,200			50,922			58,122			(8,167	)		2007			40
1452		South San Francisco		CA			—			14,400			101,362			(115	)		14,400			101,247			115,647			(16,231	)		2007			40
1454		South San Francisco		CA			—			11,100			47,738			9,369			11,100			57,108			68,208			(10,722	)		2008			40
1455		South San Francisco		CA			—			9,700			41,937			5,835			10,261			47,211			57,472			(8,446	)		2008			40
1456		South San Francisco		CA			—			6,300			22,900			8,196			6,300			31,096			37,396			(5,955	)		2008			40
1458		South San Francisco		CA			—			10,900			20,900			5,695			10,909			26,389			37,298			(6,703	)		2007			40
1459		South San Francisco		CA			—			3,600			100			192			3,600			292			3,892			(94	)		2007			5
1460		South San Francisco		CA			—			2,300			100			102			2,300			202			2,502			(100	)		2007			5
1461		South San Francisco		CA			—			3,900			200			191			3,900			391			4,291			(200	)		2007			5
1462		South San Francisco		CA			—			7,117			600			4,911			7,117			5,163			12,280			(948	)		2007			40
1463		South San Francisco		CA			—			10,381			2,300			17,731			10,381			20,031			30,412			(1,712	)		2007			40
1464		South San Francisco		CA			—			7,403			700			7,355			7,403			8,055			15,458			(713	)		2007			40
1468		South San Francisco		CA			—			10,100			24,013			4,165			10,100			26,034			36,134			(4,010	)		2007			40
1480		South San Francisco		CA			—			32,210			3,110			11,189			32,210			14,299			46,509			—			2007			**
1559		South San Francisco		CA			—			5,666			5,773			188			5,695			5,863			11,558			(5,892	)		2007			5
1560		South San Francisco		CA			—			1,204			1,293			117			1,210			1,390			2,600			(1,293	)		2007			5
1982		South San Francisco		CA			—			64,900			—			14,686			64,900			14,686			79,586			—			2011			**
1604		Cambridge		MA			—			8,389			10,630			22,153			8,389			32,783			41,172			(149	)		2010			†
2011		Durham		NC			8,564			448			6,152			13,692			448			19,844			20,292			(42	)		2011			†
2029		Durham		NC			—			1,920			5,661			17,432			1,920			23,093			25,013			(315	)		2012			†
461		Salt Lake City		UT			—			500			8,548			—			500			8,548			9,048			(3,165	)		2001			33
462		Salt Lake City		UT			—			890			15,623			—			890			15,624			16,514			(5,091	)		2001			38
463		Salt Lake City		UT			—			190			9,875			—			190			9,875			10,065			(2,765	)		2001			43
464		Salt Lake City		UT			—			630			6,921			62			630			6,984			7,614			(2,334	)		2001			38
465		Salt Lake City		UT			—			125			6,368			68			125			6,436			6,561			(1,788	)		2001			43
466		Salt Lake City		UT			—			—			14,614			7			—			14,621			14,621			(3,562	)		2001			43
507		Salt Lake City		UT			—			280			4,345			226			280			4,572			4,852			(1,157	)		2002			43
537		Salt Lake City		UT			—			—			6,517			—			—			6,517			6,517			(1,719	)		2002			35
799		Salt Lake City		UT			—			—			14,600			90			—			14,690			14,690			(2,507	)		2005			40
1593		Salt Lake City		UT			—			—			23,998			—			—			23,998			23,998			(2,485	)		2010			33

						$	54,285		$	935,829		$	2,218,082		$	503,894		$	937,686		$	2,713,944		$	3,651,630		$	(448,888	)


Medical office
638		Anchorage		AK			6,091			1,456			10,650			7,143			1,456			17,742			19,198			(2,220	)		2006			†
520		Chandler		AZ			—			3,669			13,503			1,858			3,669			15,117			18,786			(3,779	)		2002			40
2040		Mesa		AZ			—			—			17,314			46			—			17,360			17,360			(606	)		2012			45
468		Oro Valley		AZ			—			1,050			6,774			910			1,050			7,109			8,159			(1,922	)		2001			43
356		Phoenix		AZ			—			780			3,199			1,077			780			3,550			4,330			(1,466	)		1999			32
470		Phoenix		AZ			—			280			877			48			280			924			1,204			(263	)		2001			43
1066		Scottsdale		AZ			—			5,115			14,064			2,364			4,791			16,745			21,536			(3,705	)		2006			40
2021		Scottsdale		AZ			—			—			12,312			143			—			12,454			12,454			(857	)		2012			25
2022		Scottsdale		AZ			—			—			9,179			112			—			9,291			9,291			(726	)		2012			25
2023		Scottsdale		AZ			—			—			6,398			206			—			6,604			6,604			(407	)		2012			25
2024		Scottsdale		AZ			—			—			9,522			348			—			9,870			9,870			(561	)		2012			25
2025		Scottsdale		AZ			—			—			4,102			266			—			4,368			4,368			(327	)		2012			25
2026		Scottsdale		AZ			—			—			3,655			68			—			3,723			3,723			(220	)		2012			25
2027		Scottsdale		AZ			—			—			7,168			539			—			7,707			7,707			(456	)		2012			25
2028		Scottsdale		AZ			—			—			6,659			337			—			6,996			6,996			(411	)		2012			25
453		Tucson		AZ			—			215			6,318			1,043			326			7,050			7,376			(2,536	)		2000			35
556		Tucson		AZ			—			215			3,940			657			267			4,117			4,384			(901	)		2003			43
1041		Brentwood		CA			—			—			30,864			2,150			126			32,693			32,819			(6,126	)		2006			40
1200		Encino		CA			—			6,151			10,438			2,525			6,519			12,540			19,059			(3,253	)		2006			33
436		Murietta		CA			—			400			9,266			2,203			578			10,730			11,308			(4,347	)		1999			33
239		Poway		CA			—			2,700			10,839			2,326			2,872			11,754			14,626			(5,286	)		1997			35
318		Sacramento		CA			—			2,860			21,850			12,429			2,860			33,509			36,369			(6,105	)		1998			*
234		San Diego		CA			—			2,848			5,879			1,302			3,009			5,226			8,235			(2,689	)		1997			21
235		San Diego		CA			—			2,863			8,913			2,891			3,068			9,948			13,016			(5,325	)		1997			21
236		San Diego		CA			—			4,619			19,370			3,721			4,711			17,830			22,541			(8,952	)		1997			21
421		San Diego		CA			—			2,910			17,362			10,273			2,910			27,635			30,545			(4,808	)		1999			22
564		San Jose		CA			2,764			1,935			1,728			1,767			1,935			3,376			5,311			(1,339	)		2003			37
565		San Jose		CA			6,436			1,460			7,672			495			1,460			8,161			9,621			(2,398	)		2003			37
659		San Jose		CA			—			1,718			3,124			396			1,718			3,443			5,161			(792	)		2000			34
1209		Sherman Oaks		CA			—			7,472			10,075			3,199			7,861			12,877			20,738			(4,373	)		2006			22
439		Valencia		CA			—			2,300			6,967			1,210			2,353			6,845			9,198			(2,896	)		1999			35
1211		Valencia		CA			—			1,344			7,507			565			1,383			8,034			9,417			(1,629	)		2006			40
440		West Hills		CA			—			2,100			11,595			2,026			2,156			10,711			12,867			(4,369	)		1999			32
728		Aurora		CO			—			—			8,764			1,142			—			9,906			9,906			(3,379	)		2005			39
1196		Aurora		CO			—			210			12,362			1,161			210			13,487			13,697			(2,811	)		2006			40
1197		Aurora		CO			—			200			8,414			903			200			9,317			9,517			(2,268	)		2006			33
882		Colorado Springs		CO			—			—			12,933			5,038			—			17,971			17,971			(4,844	)		2007			40
814		Conifer		CO			—			—			1,485			35			13			1,508			1,521			(317	)		2005			40
1199		Denver		CO			—			493			7,897			626			558			8,458			9,016			(1,977	)		2006			33
808		Englewood		CO			—			—			8,616			6,274			—			14,764			14,764			(3,061	)		2005			35
809		Englewood		CO			—			—			8,449			2,539			—			10,702			10,702			(2,935	)		2005			35
810		Englewood		CO			—			—			8,040			4,656			—			12,696			12,696			(3,657	)		2005			35
811		Englewood		CO			—			—			8,472			1,865			—			10,295			10,295			(2,918	)		2005			35
812		Littleton		CO			—			—			4,562			1,570			79			5,950			6,029			(1,676	)		2005			35
813		Littleton		CO			—			—			4,926			1,217			5			6,094			6,099			(1,589	)		2005			38
570		Lone Tree		CO			—			—			—			18,675			—			18,548			18,548			(4,715	)		2003			39
666		Lone Tree		CO			13,774			—			23,274			1,155			—			24,419			24,419			(5,026	)		2000			37
1076		Parker		CO			—			—			13,388			346			8			13,686			13,694			(2,660	)		2006			40
510		Thornton		CO			—			236			10,206			2,030			244			12,204			12,448			(3,400	)		2002			43
433		Atlantis		FL			—			—			5,651			651			33			5,911			5,944			(2,612	)		1999			35
434		Atlantis		FL			—			—			2,027			248			5			2,270			2,275			(949	)		1999			34
435		Atlantis		FL			—			—			2,000			703			—			2,604			2,604			(1,053	)		1999			32
602		Atlantis		FL			—			455			2,231			342			455			2,383			2,838			(570	)		2000			34
604		Englewood		FL			—			170			1,134			327			198			1,418			1,616			(384	)		2000			34
609		Kissimmee		FL			—			788			174			207			788			359			1,147			(135	)		2000			34
610		Kissimmee		FL			—			481			347			367			486			707			1,193			(203	)		2000			34
671		Kissimmee		FL			—			—			7,574			1,785			—			8,793			8,793			(2,151	)		2000			36
603		Lake Worth		FL			—			1,507			2,894			1,807			1,507			4,569			6,076			(938	)		2000			34
612		Margate		FL			—			1,553			6,898			726			1,553			7,606			9,159			(1,662	)		2000			34
613		Miami		FL			8,339			4,392			11,841			2,642			4,392			14,315			18,707			(3,797	)		2000			34
1067		Milton		FL			—			—			8,566			248			—			8,806			8,806			(1,623	)		2006			40
563		Orlando		FL			—			2,144			5,136			3,694			2,288			8,432			10,720			(2,984	)		2003			37
833		Pace		FL			—			—			10,309			2,574			26			12,534			12,560			(3,652	)		2006			44
834		Pensacola		FL			—			—			11,166			478			—			11,644			11,644			(2,132	)		2006			45
614		Plantation		FL			769			969			3,241			957			1,011			4,147			5,158			(1,204	)		2000			34
673		Plantation		FL			4,783			1,091			7,176			594			1,091			7,497			8,588			(1,536	)		2002			36
701		St. Petersburg		FL			—			—			10,141			5,581			—			15,578			15,578			(3,277	)		2006			†
1210		Tampa		FL			—			1,967			6,602			4,125			2,141			10,333			12,474			(3,613	)		2006			25
1058		McCaysville		GA			—			—			3,231			18			—			3,249			3,249			(596	)		2006			40
1065		Marion		IL			—			99			11,484			235			100			11,718			11,818			(2,243	)		2006			40
1057		Newburgh		IN			—			—			14,019			2,576			—			16,590			16,590			(2,781	)		2006			40
2039		Kansas City		KS			1,843			440			2,173			9			449			2,173			2,622			(96	)		2012			35
2043		Overland Park		KS			—			—			7,668			—			—			7,668			7,668			(309	)		2012			40
483		Wichita		KS			—			530			3,341			384			530			3,724			4,254			(1,080	)		2001			45
1064		Lexington		KY			—			—			12,726			971			—			13,618			13,618			(2,816	)		2006			40
735		Louisville		KY			—			936			8,426			3,683			936			11,628			12,564			(7,770	)		2005			11
737		Louisville		KY			—			835			27,627			3,535			835			30,609			31,444			(7,516	)		2005			37
738		Louisville		KY			4,891			780			8,582			3,664			818			11,998			12,816			(5,658	)		2005			18
739		Louisville		KY			7,907			826			13,814			1,575			826			14,898			15,724			(3,944	)		2005			38
740		Louisville		KY			8,561			2,983			13,171			3,495			2,991			16,418			19,409			(4,962	)		2005			30
1944		Louisville		KY			—			788			2,414			—			788			2,414			3,202			(290	)		2010			25
1945		Louisville		KY			24,878			3,255			28,644			—			3,255			28,644			31,899			(2,864	)		2010			30
1946		Louisville		KY			—			430			6,125			46			430			6,171			6,601			(613	)		2010			30
1324		Haverhill		MA			—			800			8,537			1,767			828			10,277			11,105			(2,338	)		2007			40
1213		Ellicott City		MD			—			1,115			3,206			1,810			1,222			4,773			5,995			(1,133	)		2006			34


																		Gross Amount at Which Carried
									Initial Cost to Company									As of December 31, 2013															Life on Which
																																	Depreciation in
																																	Latest Income
															Costs																		Statement is
															Capitalized																		Computed
															Subsequent to
City				State		Encumbrances at			Land			Buildings and			Acquisition			Land			Buildings and			Total⁽¹⁾			Accumulated			Year
						December 31, 2013						Improvements									Improvements						Depreciation			Acquired/
																														Constructed
361		Glen Burnie		MD			—			670			5,085			—			670			5,085			5,755			(2,131	)		1999			35
1052		Towson		MD			—			—			14,233			3,599			—			15,788			15,788			(4,140	)		2006			40
240		Minneapolis		MN			—			117			13,213			1,577			117			14,642			14,759			(6,658	)		1997			32
300		Minneapolis		MN			945			160			10,131			2,607			160			12,342			12,502			(5,442	)		1997			35
2032		Independence		MO			32,716			—			48,025			217			—			48,242			48,242			(1,380	)		2012			45
1078		Flowood		MS			—			—			8,413			729			—			9,115			9,115			(1,841	)		2006			40
1059		Jackson		MS			—			—			8,869			37			—			8,905			8,905			(1,617	)		2006			40
1060		Jackson		MS			—			—			7,187			2,160			—			9,347			9,347			(2,010	)		2006			40
1068		Omaha		NE			—			—			16,243			568			17			16,783			16,800			(3,190	)		2006			40
729		Albuquerque		NM			—			—			5,380			379			—			5,759			5,759			(1,306	)		2005			39
348		Elko		NV			—			55			2,637			12			55			2,649			2,704			(1,126	)		1999			35
571		Las Vegas		NV			—			—			—			18,240			—			17,501			17,501			(4,508	)		2003			40
660		Las Vegas		NV			3,406			1,121			4,363			3,921			1,301			8,052			9,353			(3,077	)		2000			34
661		Las Vegas		NV			3,551			2,125			4,829			3,806			2,267			8,277			10,544			(2,347	)		2000			34
662		Las Vegas		NV			6,791			3,480			12,305			3,469			3,480			15,514			18,994			(4,536	)		2000			34
663		Las Vegas		NV			981			1,717			3,597			2,120			1,717			5,697			7,414			(2,049	)		2000			34
664		Las Vegas		NV			1,998			1,172			1,550			314			1,172			1,649			2,821			(1,649	)		2000			*
691		Las Vegas		NV			—			3,244			18,339			1,637			3,273			19,826			23,099			(7,078	)		2004			†
2037		Mesquite		NV			3,163			—			5,559			6			—			5,565			5,565			(217	)		2012			40
1285		Cleveland		OH			—			823			2,726			669			853			2,680			3,533			(689	)		2006			40
400		Harrison		OH			—			—			4,561			300			—			4,861			4,861			(1,936	)		1999			35
1054		Durant		OK			—			619			9,256			1,223			651			10,439			11,090			(1,881	)		2006			40
817		Owasso		OK			—			—			6,582			601			—			7,184			7,184			(2,571	)		2005			40
404		Roseburg		OR			—			—			5,707			—			—			5,707			5,707			(2,239	)		1999			35
252		Clarksville		TN			—			765			4,184			25			765			4,209			4,974			(1,882	)		1998			35
624		Hendersonville		TN			—			256			1,530			896			256			2,306			2,562			(711	)		2000			34
559		Hermitage		TN			—			830			5,036			5,247			830			9,786			10,616			(2,807	)		2003			35
561		Hermitage		TN			—			596			9,698			3,139			596			12,402			12,998			(3,719	)		2003			37
562		Hermitage		TN			—			317			6,528			1,835			317			8,107			8,424			(2,599	)		2003			37
154		Knoxville		TN			—			700			4,559			4,050			700			8,515			9,215			(2,477	)		1994			19
625		Nashville		TN			8,878			955			14,289			1,702			955			15,745			16,700			(4,034	)		2000			34
626		Nashville		TN			3,654			2,050			5,211			2,606			2,055			7,750			9,805			(1,986	)		2000			34
627		Nashville		TN			518			1,007			181			572			1,007			732			1,739			(218	)		2000			34
628		Nashville		TN			5,175			2,980			7,164			1,494			2,980			8,603			11,583			(2,136	)		2000			34
630		Nashville		TN			522			515			848			251			528			1,085			1,613			(277	)		2000			34
631		Nashville		TN			—			266			1,305			962			266			2,164			2,430			(548	)		2000			34
632		Nashville		TN			—			827			7,642			3,079			827			10,470			11,297			(2,656	)		2000			34
633		Nashville		TN			9,344			5,425			12,577			3,490			5,425			16,035			21,460			(4,141	)		2000			34
634		Nashville		TN			8,543			3,818			15,185			3,357			3,818			18,194			22,012			(4,935	)		2000			34
636		Nashville		TN			426			583			450			298			583			748			1,331			(115	)		2000			34
573		Arlington		TX			8,333			769			12,355			2,150			769			14,440			15,209			(3,569	)		2003			34
576		Conroe		TX			2,722			324			4,842			1,693			324			6,432			6,756			(2,087	)		2000			34
577		Conroe		TX			5,006			397			7,966			2,344			397			9,980			10,377			(2,132	)		2000			34
578		Conroe		TX			5,231			388			7,975			2,367			388			10,212			10,600			(1,893	)		2006			31
579		Conroe		TX			1,710			188			3,618			688			188			4,288			4,476			(956	)		2000			34
581		Corpus Christi		TX			—			717			8,181			3,044			717			11,180			11,897			(3,228	)		2000			34
600		Corpus Christi		TX			—			328			3,210			2,937			328			5,947			6,275			(1,581	)		2000			34
601		Corpus Christi		TX			—			313			1,771			786			313			2,539			2,852			(801	)		2000			34
582		Dallas		TX			5,145			1,664			6,785			2,400			1,693			9,036			10,729			(2,459	)		2000			34
1314		Dallas		TX			—			15,230			162,971			6,031			15,702			168,090			183,792			(34,689	)		2006			35
583		Fort Worth		TX			2,839			898			4,866			1,558			898			6,369			7,267			(1,703	)		2000			34
805		Fort Worth		TX			—			—			2,481			872			2			3,304			3,306			(1,150	)		2005			25
806		Fort Worth		TX			—			—			6,070			201			5			6,190			6,195			(1,310	)		2005			40
1061		Granbury		TX			—			—			6,863			152			—			7,015			7,015			(1,299	)		2006			40
430		Houston		TX			—			1,927			33,140			2,493			2,062			35,348			37,410			(14,413	)		1999			35
446		Houston		TX			—			2,200			19,585			6,366			2,209			23,314			25,523			(14,568	)		1999			17
586		Houston		TX			—			1,033			3,165			930			1,033			3,969			5,002			(1,137	)		2000			34
589		Houston		TX			9,462			1,676			12,602			3,677			1,706			16,024			17,730			(4,258	)		2000			34
670		Houston		TX			—			257			2,884			1,108			318			3,906			4,224			(1,032	)		2000			35
702		Houston		TX			—			—			7,414			1,131			7			8,517			8,524			(2,258	)		2004			36
1044		Houston		TX			—			—			4,838			3,202			—			7,948			7,948			(2,147	)		2006			40
590		Irving		TX			5,382			828			6,160			1,742			828			7,844			8,672			(1,905	)		2000			34
700		Irving		TX			—			—			8,550			3,079			—			11,626			11,626			(3,212	)		2004			34
1202		Irving		TX			—			1,604			16,107			896			1,604			17,003			18,607			(3,160	)		2006			40
1207		Irving		TX			—			1,955			12,793			1,058			1,986			13,820			15,806			(2,490	)		2006			40
1062		Lancaster		TX			—			172			2,692			534			172			3,183			3,355			(871	)		2006			39
2195		Lancaster		TX			—			—			1,138			—			—			1,138			1,138			(18	)		2006			39
591		Lewisville		TX			5,027			561			8,043			790			561			8,807			9,368			(1,962	)		2000			34
144		Longview		TX			—			102			7,998			395			102			8,393			8,495			(3,736	)		1992			45
143		Lufkin		TX			—			338			2,383			40			338			2,423			2,761			(1,048	)		1992			45
568		McKinney		TX			—			541			6,217			726			541			6,530			7,071			(1,940	)		2003			36
569		McKinney		TX			—			—			636			7,656			—			7,655			7,655			(1,923	)		2003			40
596		Nassau Bay		TX			5,257			812			8,883			1,785			812			10,521			11,333			(2,257	)		2000			37
1079		North Richland Hills		TX			—			—			8,942			597			—			9,407			9,407			(1,813	)		2006			40
2048		North Richland Hills		TX			—			1,385			10,213			1,264			1,385			11,477			12,862			(541	)		2012			30
1048		Pearland		TX			—			—			4,014			4,023			—			7,975			7,975			(2,047	)		2006			40
447		Plano		TX			—			1,700			7,810			5,559			1,704			12,746			14,450			(3,770	)		1999			20
597		Plano		TX			7,393			1,210			9,588			2,905			1,210			12,400			13,610			(2,976	)		2000			34
672		Plano		TX			9,296			1,389			12,768			1,282			1,389			13,547			14,936			(3,167	)		2002			36
1284		Plano		TX			—			2,049			18,793			1,100			2,087			18,755			20,842			(5,551	)		2006			40
1286		Plano		TX			—			3,300			—			—			3,300			—			3,300			—			2006			**
815		San Antonio		TX			—			—			9,193			951			12			10,102			10,114			(2,655	)		2006			35
816		San Antonio		TX			4,279			—			8,699			1,386			—			10,047			10,047			(2,514	)		2006			35
1591		San Antonio		TX			—			—			7,309			316			12			7,614			7,626			(911	)		2010			30
1977		San Antonio		TX			—			—			26,191			620			—			26,810			26,810			(2,767	)		2011			30
598		Sugarland		TX			3,726			1,078			5,158			1,699			1,084			6,702			7,786			(1,718	)		2000			34
1081		Texarkana		TX			—			1,117			7,423			674			1,195			8,020			9,215			(2,425	)		2006			40
599		Texas City		TX			6,091			—			9,519			157			—			9,676			9,676			(1,940	)		2000			37
152		Victoria		TX			—			125			8,977			—			125			8,977			9,102			(3,804	)		1994			45
1592		Bountiful		UT			5,064			999			7,426			54			999			7,481			8,480			(863	)		2010			30
169		Bountiful		UT			—			276			5,237			620			330			5,803			6,133			(2,375	)		1995			45
346		Castle Dale		UT			—			50			1,818			63			50			1,881			1,931			(816	)		1998			35
347		Centerville		UT			—			300			1,288			191			300			1,479			1,779			(678	)		1999			35
2035		Draper		UT			5,683			—			10,803			113			—			10,916			10,916			(396	)		2012			45
350		Grantsville		UT			—			50			429			39			50			468			518			(221	)		1999			35
469		Kaysville		UT			—			530			4,493			146			530			4,639			5,169			(1,275	)		2001			43
456		Layton		UT			—			371			7,073			474			389			7,457			7,846			(2,773	)		2001			35
2042		Layton		UT			—			—			10,275			15			—			10,290			10,290			(363	)		2012			45
359		Ogden		UT			—			180			1,695			121			180			1,764			1,944			(777	)		1999			35
1283		Ogden		UT			—			106			4,464			539			106			4,540			4,646			(1,081	)		2006			40
357		Orem		UT			—			337			8,744			1,347			306			9,354			9,660			(4,512	)		1999			35
371		Providence		UT			—			240			3,876			203			256			3,802			4,058			(1,592	)		1999			35
353		Salt Lake City		UT			—			190			779			97			201			865			1,066			(372	)		1999			35
354		Salt Lake City		UT			—			220			10,732			1,450			220			11,980			12,200			(5,008	)		1999			35
355		Salt Lake City		UT			—			180			14,792			1,483			180			16,169			16,349			(6,844	)		1999			35
467		Salt Lake City		UT			—			3,000			7,541			986			3,126			8,357			11,483			(2,697	)		2001			38
566		Salt Lake City		UT			—			509			4,044			1,027			509			4,903			5,412			(1,473	)		2003			37
2041		Salt Lake City		UT			—			—			12,326			21			—			12,347			12,347			(428	)		2012			45
2033		Sandy		UT			2,983			867			3,513			185			867			3,698			4,565			(274	)		2012			20
358		Springville		UT			—			85			1,493			233			95			1,717			1,812			(755	)		1999			35
482		Stansbury		UT			—			450			3,201			368			450			3,505			3,955			(1,020	)		2001			45
351		Washington Terrace		UT			—			—			4,573			2,019			—			6,240			6,240			(2,514	)		1999			35
352		Washington Terrace		UT			—			—			2,692			899			—			3,261			3,261			(1,233	)		1999			35
2034		West Jordan		UT			7,696			—			12,021			—			—			12,021			12,021			(413	)		2012			45
2036		West Jordan		UT			1,340			—			1,383			283			—			1,666			1,666			(101	)		2012			20
495		West Valley City		UT			—			410			8,266			1,002			410			9,268			9,678			(3,251	)		2002			35
349		West Valley City		UT			—			1,070			17,463			91			1,036			17,583			18,619			(7,467	)		1999			35
1208		Fairfax		VA			—			8,396			16,710			3,310			8,455			19,955			28,410			(5,363	)		2006			28
572		Reston		VA			—			—			11,903			264			—			12,095			12,095			(3,284	)		2003			43
448		Renton		WA			—			—			18,724			1,549			—			19,607			19,607			(7,973	)		1999			35
781		Seattle		WA			—			—			52,703			4,300			—			54,256			54,256			(13,413	)		2004			39
782		Seattle		WA			—			—			24,382			4,535			21			28,089			28,110			(7,600	)		2004			36
783		Seattle		WA			—			—			5,625			1,095			—			6,672			6,672			(5,451	)		2004			10
785		Seattle		WA			—			—			7,293			1,409			—			7,944			7,944			(2,471	)		2004			33
1385		Seattle		WA			—			—			38,925			1,119			—			40,033			40,033			(8,726	)		2007			30
2038		Evanston		WY			2,102			—			4,601			8			—			4,609			4,609			(177	)		2012			40
884		Coyoacan		DF			—			415			3,739			192			310			4,026			4,336			(786	)		2006			40

						$	293,414		$	191,932		$	1,973,168		$	368,107		$	195,960		$	2,288,966		$	2,484,926		$	(584,233	)


Hospital
126		Sherwood		AR			—			709			9,604			—			709			9,587			10,296			(4,899	)		1990			45
113		Glendale		AZ			—			1,565			7,050			—			1,565			7,050			8,615			(3,690	)		1988			45
1038		Fresno		CA			—			3,652			29,113			21,935			3,652			51,048			54,700			(11,509	)		2006			40
423		Irvine		CA			—			18,000			70,800			—			18,000			70,800			88,800			(28,663	)		1999			35
127		Colorado Springs		CO			—			690			8,338			—			690			8,338			9,028			(4,238	)		1989			45
887		Atlanta		GA			—			4,300			13,690			—			4,300			11,890			16,190			(4,062	)		2007			40
112		Overland Park		KS			—			2,316			10,681			—			2,316			10,680			12,996			(5,789	)		1989			45
1383		Baton Rouge		LA			—			690			8,545			86			690			8,502			9,192			(2,075	)		2007			40
877		Slidell		LA			—			1,490			22,034			—			1,490			20,934			22,424			(3,751	)		2006			40
2031		Slidell		LA			—			3,000			—			643			3,000			643			3,643			—			2012			**
886		Dallas		TX			—			1,820			8,508			26			1,820			7,454			9,274			(1,273	)		2007			40
1319		Dallas		TX			—			18,840			155,659			1,097			18,840			156,756			175,596			(30,155	)		2007			35
1384		Plano		TX			—			6,290			22,686			4,350			6,290			27,037			33,327			(6,128	)		2007			25
2198		Webster		TX			—			2,220			9,602			—			2,220			9,602			11,822			(109	)		2013			35

						$	—		$	65,582		$	376,310		$	28,137		$	65,582		$	400,321		$	465,903		$	(106,341	)


Total continuing operations properties						$	1,396,485		$	1,815,337		$	9,865,380		$	1,054,268		$	1,822,862		$	10,766,871		$	12,589,733		$	(1,963,001	)


Corporate and other assets							—			—			2,729			4,101			—			3,108			3,108			(2,591	)

Total						$	1,396,485		$	1,815,337		$	9,868,109		$	1,058,369		$	1,822,862		$	10,769,979		$	12,592,841		$	(1,965,592	)




*
Property is in development and not yet placed in service or taken out of service and placed in redevelopment.

**
Represents land parcels which are not depreciated.

†
A portion of the property has been taken out of service and placed in redevelopment.

-1
At December 31, 2013, the tax basis of the Company's net real estate assets is less than the reported amounts by approximately $1.6 billion.

(b) A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2013, 2012 and 2011 follows (in thousands):


		Year ended December 31,
		2013			2012			2011
Real estate:
Balances at beginning of year		$	12,524,224		$	10,616,690		$	9,670,490
Acquisition of real estate and development and improvements			257,189			1,941,091			1,049,723
Disposition of real estate			(78,151	)		(148,752	)		(21,737	)
Impairments			—			(7,878	)		—
Balances associated with changes in reporting presentation⁽¹⁾			(110,421	)		123,073			(81,786	)

Balances at end of year		$	12,592,841		$	12,524,224		$	10,616,690


Accumulated depreciation:
Balances at beginning of year		$	1,694,892		$	1,408,310		$	1,188,539
Depreciation expense			353,344			302,332			294,480
Disposition of real estate			(38,447	)		(32,942	)		(5,705	)
Balances associated with changes in reporting presentation⁽¹⁾			(44,197	)		17,192			(69,004	)

Balances at end of year		$	1,965,592		$	1,694,892		$	1,408,310




-1
The balances associated with changes in reporting presentation represent real estate and accumulated depreciation related to properties placed into discontinued operations or where the lease classification has changed to direct financing leases as of December 31, 2013.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Use of Estimates	'

	Use of Estimates

	Management is required to make estimates and assumptions in the preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP"). These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from management's estimates.

Principles of Consolidation	'

	Principles of Consolidation

	The consolidated financial statements include the accounts of HCP, its wholly-owned subsidiaries and joint ventures or variable interest entities that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation.

	The Company is required to continually evaluate its VIE relationships and consolidate these entities when it is determined to be the primary beneficiary of their operations. A VIE is broadly defined as an entity where either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity's economic performance or (ii) the equity investment at risk is insufficient to finance that entity's activities without additional subordinated financial support.

	A variable interest holder is considered to be the primary beneficiary of a VIE if it has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors includes, but is not limited to, the Company's ability to direct the activities that most significantly impact the VIE's economic performance, its form of ownership interest, its representation on the VIE's governing body, the size and seniority of its investment, its ability and the rights of other investors to participate in policy making decisions and its ability to replace the manager of and/or liquidate the entity.

	For its investments in joint ventures, the Company evaluates the type of ownership rights held by the limited partner(s) that may preclude consolidation in circumstances in which the sole general partner would otherwise consolidate the limited partnership. The assessment of limited partners' rights and their impact on the presumption of control over a limited partnership by the sole general partner should be made when an investor becomes the sole general partner and should be reassessed if (i) there is a change to the terms or in the exercisability of the rights of the limited partners, (ii) the sole general partner increases or decreases its ownership in the limited partnership interests, or (iii) there is an increase or decrease in the number of outstanding limited partnership interests. The Company similarly evaluates the rights of managing members of limited liability companies.

Revenue Recognition	'

	Revenue Recognition

	At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses its terms and conditions to determine the proper lease classification. A lease arrangement is classified as an operating lease if none of the following criteria are met: (i) transfer of ownership to the lessee, (ii) lessee has a bargain purchase option during or at the end of the lease term, (iii) the lease term is equal to 75% or more of the underlying property's economic life, or (iv) the future minimum lease payments (excluding executory costs) are equal to 90% or more of the excess estimated fair value (over retained tax credits) of the leased building. If one of the four criteria is met and the minimum lease payments are determined to be reasonably predicable and collectible, the lease arrangement is generally accounted for as a direct financing lease.

	The Company recognizes rental revenue for operating lease arrangements when the tenant has taken possession or controls the physical use of a leased asset. If a lease arrangement provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance that is funded by the Company is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Ownership of tenant improvements is determined based on various factors including, but not limited to, the following criteria:



	•
	lease stipulations of how and on what a tenant improvement allowance may be spent;

	•
	which party to the arrangement retains legal title to the tenant improvements upon lease expiration;

	•
	whether the tenant improvements are unique to the tenant or general purpose in nature; and

	•
	if the tenant improvements are expected to have significant residual value at the end of the lease term.

	Certain leases provide for additional rents that are contingent upon a percentage of the facility's revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the base amount or other thresholds, and only after any contingency has been removed (when the related thresholds are achieved). This may result in the recognition of rental revenue in periods subsequent to when such payments are received.

	Tenant recoveries subject to operating leases related to the reimbursement of real estate taxes, insurance, repairs and maintenance and other operating expenses are recognized as revenue in the period the expenses are incurred. The reimbursements are recognized and presented gross, as the Company is generally the primary obligor and, with respect to purchasing goods and services from third party suppliers, has discretion in selecting the supplier and bears the associated credit risk.

	For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight-line basis over the lease term when collectibility is reasonably assured. Recognizing rental income on a straight-line basis for leases results in recognized revenue amounts which differ from those that are contractually due from tenants. If the Company determines that collectibility of straight-line rents is not reasonably assured, future revenue recognition is limited to amounts contractually owed and paid, and, when appropriate, an allowance for estimated losses is established.

	Resident fee revenue is recorded when services are rendered and includes resident room and care charges, community fees and other resident charges. Residency agreements are generally for a term of 30 days to one year, with resident fees billed monthly. Revenue for certain care related services is recognized as services are provided and is billed monthly in arrears.

	The Company maintains an allowance for doubtful accounts, including an allowance for operating lease straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of its tenants and operators on a continuous basis. This evaluation considers industry and economic conditions, property performance, credit enhancements and other factors. For operating lease straight-line rent amounts, the Company's assessment is based on amounts estimated to be recoverable over the term of the lease.

	The Company utilizes the direct finance method of accounting to record income from direct financing leases ("DFLs"). For leases accounted for as DFLs, the net investment in the DFL represents receivables for the sum of minimum lease payments receivable and the estimated residual values of the leased properties, less the unearned income. Unearned income is deferred and amortized to income over the lease terms to provide a constant yield when collectibility of the lease payments is reasonably assured.

	Loans receivable are classified as held-for-investment based on management's intent and ability to hold the loans for the foreseeable future or to maturity. Loans held-for-investment are carried at amortized cost and are reduced by a valuation allowance for estimated credit losses as necessary. The Company recognizes interest income on loans, including the amortization of discounts and premiums, using the interest method. The interest method is applied on a loan-by-loan basis when collectibility of the future payments is reasonably assured. Premiums and discounts are recognized as yield adjustments over the term of the related loans. Loans are transferred from held-for-investment to held-for-sale when management's intent is to no longer hold the loans for the foreseeable future. Loans held-for-sale are recorded at the lower of cost or fair value.

	Allowances are established for loans and DFLs based upon an estimate of probable losses on an individual basis if they are determined to be impaired. Loans and DFLs are impaired when it is deemed probable that the Company will be unable to collect all amounts due in accordance with the contractual terms of the loan or lease. An allowance is based upon the Company's assessment of the borrower's or lessee's overall financial condition, economic resources, payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including the expected future cash flows discounted at the loan's or DFL's effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience and other relevant factors, as appropriate.

	Loans and DFLs are placed on non-accrual status when management determines that the collectibility of contractual amounts is not reasonably assured. While on non-accrual status, loans and DFLs are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, were cash receipts reduce the carrying value of the loan or DFL, based on the Company's expectation of future collectibility.

	The Company recognizes gain on sales of real estate upon the closing of a transaction with the purchaser. Gains on properties sold are recognized using the full accrual method when the collectibility of the sales price is reasonably assured, the Company is not obligated to perform additional activities that may be considered significant, the initial investment from the buyer is sufficient and other profit recognition criteria have been satisfied. Gain on sales of real estate may be deferred in whole or in part until the requirements for gain recognition have been met.

	The Company receives management fees from its investments in certain joint venture entities for various services it provides as the managing member. Management fees are recorded as revenue when management services have been performed. Intercompany profit for management fees is eliminated.

Real Estate	'

	Real Estate

	The Company's real estate assets, consisting of land, buildings and improvements are recorded at their then fair value at the time of acquisition and/or consolidation. The assumed liabilities, acquired tangible assets and identifiable intangibles are also recorded at their then fair value. The Company assesses fair value based on cash flow projections that utilize appropriate discount and/or capitalization rates and other available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, as well as market and economic conditions. The fair value of tangible assets of an acquired property is based on the value of the property as if it is vacant. Transaction costs related to acquisitions of businesses, including properties, are expensed as incurred.

	The Company records acquired "above and below market" leases at their fair value using discount rates which reflect the risks associated with the leases acquired. The amount recorded is based on the present value of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management's estimate of fair market lease rates for each in-place lease, measured over a period equal to the remaining term of the lease for above market leases and the initial term plus the extended term for any leases with bargain renewal options. Other intangible assets acquired include amounts for in-place lease values that are based on the Company's evaluation of the specific characteristics of each property and the respective tenant's lease. Factors considered include estimates of carrying costs during hypothetical expected lease-up periods, market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes estimates of lost rents at estimated market rates during the hypothetical expected lease-up periods, which are dependent on local market conditions and expected trends. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related costs.

	The Company capitalizes direct construction and development costs, including predevelopment costs, interest, property taxes, insurance and other costs directly related and essential to the acquisition, development or construction of a real estate asset. The Company capitalizes construction and development costs while substantive activities are ongoing to prepare an asset for its intended use. The Company considers a construction project as substantially complete and held available for occupancy upon the completion of company owned tenant improvements, but no later than one year from cessation of significant construction activity. Costs incurred after a project is substantially complete and ready for its intended use, or after development activities have ceased, are expensed as incurred. For redevelopment of existing operating properties, the Company capitalizes costs based on the net carrying value of the existing property under redevelopment plus the cost for the construction and improvement incurred in connection with the redevelopment. Costs previously capitalized related to abandoned acquisitions or developments are charged to earnings. Expenditures for repairs and maintenance are expensed as incurred. The Company considers costs incurred in conjunction with re-leasing properties, including tenant improvements and lease commissions, to represent the acquisition of productive assets and, accordingly, such costs are reflected as investing activities in the Company's consolidated statement of cash flows.

	The Company computes depreciation on properties using the straight-line method over the assets' estimated useful life. Depreciation is discontinued when a property is identified as held-for-sale. Buildings and improvements are depreciated over useful lives ranging up to 50 years. Above and below market lease intangibles are amortized primarily to revenue over the remaining noncancellable lease terms and bargain renewal periods, if any. In-place lease intangibles are amortized to expense over the remaining noncancellable lease term and bargain renewal periods, if any.

Impairment of Long-Lived Assets and Goodwill	'

	Impairment of Long-Lived Assets and Goodwill

	The Company assesses the carrying value of real estate assets and related intangibles ("real estate assets") when events or changes in circumstances indicate that the carrying value may not be recoverable. The Company tests its real estate assets for impairment by comparing the sum of the expected future undiscounted cash flows to the carrying value of the real estate assets. The estimated future undiscounted cash flows are calculated utilizing the lowest level of identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. If the carrying value exceeds the expected future undiscounted cash flows, an impairment loss will be recognized to the extent that the carrying value of the real estate assets is greater than its fair value.

	Goodwill is tested for impairment at least annually based on certain qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Potential impairment indicators and qualitative factors include a significant decline in real estate valuations, restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in the value of the Company's market capitalization. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compares the fair value of a reporting unit with its carrying amount, including goodwill and, if necessary, (ii) compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill as if it had been acquired in a business combination at the date of the impairment test. The excess fair value of the reporting unit over the fair value of assets and liabilities is the implied value of goodwill and is used to determine the amount of impairment, if any. The Company selected the fourth quarter of each fiscal year to perform its annual impairment test.

Assets Held-for-Sale and Discontinued Operations	'

	Assets Held-for-Sale and Discontinued Operations

	Certain long-lived assets are classified as held-for-sale and are reported at the lower of their carrying value or their fair value less costs to sell and are no longer depreciated. Discontinued operations is a component of an entity that has either been disposed of or is deemed to be held-for-sale and, (i) the operations and cash flows of the component have been or will be eliminated from ongoing operations as a result of the disposal transaction, and (ii) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction.

Investments in Unconsolidated Joint Ventures	'

	Investments in Unconsolidated Joint Ventures

	Investments in entities which the Company does not consolidate but has the ability to exercise significant influence over operating and financial policies are reported under the equity method of accounting. Under the equity method of accounting, the Company's share of the investee's earnings or losses are included in the Company's consolidated results of operations.

	The initial carrying value of investments in unconsolidated joint ventures is based on the amount paid to purchase the joint venture interest or the fair value of the assets prior to the sale of interests in the joint venture. To the extent that the Company's cost basis is different from the basis reflected at the joint venture level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company's share of equity in earnings of the joint venture. The Company evaluates its equity method investments for impairment based upon a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in the fair value of an investment in an unconsolidated joint venture below its carrying value is other-than-temporary, an impairment is recorded. The Company recognizes gains on the sale of interests in joint ventures to the extent the economic substance of the transaction is a sale.

	The Company's fair values for its equity method investments are based on discounted cash flow models that include all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums or discounts. Capitalization rates, discount rates and credit spreads utilized in these models are based upon assumptions that the Company believes to be within a reasonable range of current market rates for the respective investments.

Share-Based Compensation	'

	Share-Based Compensation

	Compensation expense for share-based awards granted to employees, including grants of employee stock options, are recognized in the consolidated statements of income based on their grant date fair market value. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services.

Cash and Cash Equivalents	'

	Cash and Cash Equivalents

	Cash and cash equivalents consist of cash on hand and short-term investments with maturities of three months or less when purchased.

Restricted Cash	'

	Restricted Cash

	Restricted cash primarily consists of amounts held by mortgage lenders to provide for (i) real estate tax expenditures, tenant improvements and capital expenditures, and (ii) security deposits and net proceeds from property sales that were executed as tax-deferred dispositions.

Derivatives	'

	Derivatives

	During its normal course of business, the Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transaction or transactions, must be, and are expected to remain, probable of occurring in accordance with the Company's related assertions.

	The Company recognizes all derivative instruments, including embedded derivatives required to be bifurcated, as assets or liabilities in the consolidated balance sheets at their fair value. Changes in the fair value of derivative instruments that are not designated as hedges or that do not meet the criteria of hedge accounting are recognized in earnings. 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), whereas the change in fair value of the ineffective portion is recognized in earnings.

	The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific forecasted transactions as well as recognized obligations or assets in the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives that are designated in hedging transactions are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying forecasted transaction will not occur, the Company discontinues hedge accounting prospectively and records the appropriate adjustment to earnings based on the current fair value of the derivative.

Income Taxes	'

	Income Taxes

	HCP, Inc. elected REIT status and believes it has always operated so as to continue to qualify as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the "Code"). Accordingly, HCP, Inc. will not be subject to U.S. federal income tax, provided that it continues to qualify as a REIT and makes distributions to stockholders equal to or in excess of its taxable income. In addition, the Company has formed several consolidated subsidiaries, which have elected REIT status. HCP, Inc. and its consolidated REIT subsidiaries are each subject to the REIT qualification requirements under Sections 856 to 860 of the Code. If any REIT fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may be ineligible to qualify as a REIT for four subsequent tax years.

	HCP, Inc. and its consolidated REIT subsidiaries are subject to state and local income taxes in some jurisdictions, and in certain circumstances each REIT may also be subject to federal excise taxes on undistributed income. In addition, certain activities that the Company undertakes may be conducted by entities which elect to be treated as taxable REIT subsidiaries ("TRSs"). TRSs are subject to both federal and state income taxes. The Company recognizes tax penalties relating to unrecognized tax benefits as additional income tax expense. Interest relating to unrecognized tax benefits is recognized as interest expense.

Marketable Securities	'

	Marketable Securities

	The Company classifies its marketable equity securities as available-for-sale. These securities are carried at their fair value with unrealized gains and losses recognized in stockholders' equity as a component of accumulated other comprehensive income (loss). Gains or losses on securities sold are determined based on the specific identification method. When the Company determines declines in fair value of marketable securities are other-than-temporary, a loss is recognized in earnings.

	The Company classifies its marketable debt securities as held-to-maturity, because the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are recorded at amortized cost and adjusted for the amortization of premiums and discounts through maturity.

Capital Raising Issuance Costs	'

	Capital Raising Issuance Costs

	Costs incurred in connection with the issuance of common shares are recorded as a reduction of additional paid-in capital. Costs incurred in connection with the issuance of preferred shares are recorded as a reduction of the preferred stock amount. Debt issuance costs are deferred, included in other assets and amortized to interest expense over the remaining term of the related debt utilizing the interest method.

Segment Reporting	'

	Segment Reporting

	The Company's segments are based on its internal method of reporting which classifies operations by healthcare sector. The Company's business operations include five segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital.

Noncontrolling Interests	'

	Noncontrolling Interests

	The Company reports arrangements with noncontrolling interests as a component of equity separate from the parent's equity. The Company accounts for purchases or sales of equity interests that do not result in a change in control as equity transactions. In addition, net income attributable to the noncontrolling interest is included in consolidated net income on the face of the consolidated statements of income and, upon a gain or loss of control, the interest purchased or sold, as well as any interest retained, is recorded at its fair value with any gain or loss recognized in earnings.

	The Company consolidates non-managing member limited liability companies ("DownREITs") because it exercises control, and noncontrolling interests in these entities are carried at cost. The non-managing member LLC Units ("DownREIT units") are exchangeable for an amount of cash approximating the then-current market value of shares of the Company's common stock or, at the Company's option, shares of the Company's common stock (subject to certain adjustments, such as stock splits and reclassifications). Upon exchange of DownREIT units for the Company's common stock, the carrying amount of the DownREIT units is reclassified to stockholders' equity.

Foreign Currency Translation and Transactions	'

	Foreign Currency Translation and Transactions

	Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains or losses resulting from translation are included in accumulated other comprehensive income, a component of stockholders' equity on the consolidated balance sheets. Gains or losses resulting from foreign currency transactions are translated into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of transaction gains or losses are included in other income, net in the consolidated statements of income.

Preferred Stock Redemptions	'

	Preferred Stock Redemptions

	The Company recognizes the excess of the redemption value of cumulative redeemable preferred stock redeemed over its carrying amount as a charge to earnings.

Life Care Bonds Payable	'

	Life Care Bonds Payable

	Certain of the Company's continuing care retirement communities ("CCRCs") issue non-interest bearing life care bonds payable to certain residents of the CCRCs. Generally, the bonds are refundable to the resident or to the resident's estate upon termination or cancellation of the CCRC agreement or upon the successful resale of the unit. Proceeds from the issuance of new bonds are used to retire existing bonds, and since the maturity of the obligations for the facilities is not determinable, no interest is imputed. These amounts are included in other debt in the Company's consolidated balance sheets.

Fair Value Measurement	'

	Fair Value Measurement

	The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on 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 areunobservable.

	The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third party source to determine fair value and classifies such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies the asset or liability in Level 2.

	If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and/or market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow and Black-Scholes valuation models. The Company also considers its counterparty's and own credit risk on derivatives and other liabilities measured at their fair value. The Company has elected the mid-market pricing expedient when determining fair value.

Earnings per Share	'

	Earnings per Share

	Basic earnings per common share is computed by dividing net income applicable to common shares by the weighted average number of shares of common stock outstanding during the period. The Company accounts for unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities, which are included in the computation of earnings per share pursuant to the two-class method. Diluted earnings per common share is calculated by including the effect of dilutive and preferred securities.

Recent Accounting Pronouncements	'

	Recent Accounting Pronouncements

	In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force) ("ASU 2013-10"). This update permits the Fed Funds Effective Swap Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate ("LIBOR"). The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 on July 17, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

	In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02"). This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The adoption of ASU 2013-02 on January 1, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

	In July 2012, the FASB issued Accounting Standards Update No. 2012-01, Continuing Care Retirement Communities—Refundable Advance Fees ("ASU 2012-01"). This update clarifies the situations in which recognition of deferred revenue for refundable advance fees is appropriate. The adoption of ASU 2012-01 on January 1, 2013 did not have a material impact on the Company's consolidated financial position or results of operations.

Reclassifications	'

	Reclassifications

	Certain amounts in the Company's consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. Assets sold or held-for-sale and associated liabilities have been reclassified on the consolidated balance sheets and operating results reclassified from continuing to discontinued operations.

HCR_ManorCare_Acquisition_Tabl

HCR ManorCare Acquisition (Tables) (HCR ManorCare)	12 Months Ended
HCR ManorCare Acquisition (Tables) (HCR ManorCare)	Dec. 31, 2013
Acquisition	'
Schedule of total purchase price consideration paid	'

	The HCR ManorCare Acquisition total purchase price was as follows (in thousands):


	Payment of aggregate cash consideration, net of cash acquired	$	3,801,624
	HCP's loan investments in HCR ManorCare's debt settled at fair value⁽¹⁾		1,990,406
	Assumed HCR ManorCare accrued liabilities at fair value⁽²⁾		224,932

	Total purchase consideration	$	6,016,962


	Legal, accounting and other fees and costs⁽³⁾	$	26,839




	-1
	The Company recognized a gain of approximately $23 million, included in interest income, which represents the fair value of the Company's existing mezzanine and mortgage loan investments in HCR ManorCare in excess of its carrying value on the acquisition date.

	-2
	In August 2011, the Company paid or refunded these amounts to certain taxing authorities or the seller. These August 2011 cash payments are included in the "cash used in the HCR ManorCare Acquisition, net of cash acquired" that is presented in the 2011 consolidated statement of cash flows under investing activities.

	-3
	Represents estimated fees and costs of $16 million and $11 million that were expensed and included in general and administrative expense and interest expense, respectively. These charges are directly attributable to the transaction and represent non-recurring costs.

Summary of fair values of assets acquired and liabilities assumed	'

	The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date of April 7, 2011 (in thousands):


	Assets acquired
	Net investments in direct financing leases	$	6,002,074
	Cash and cash equivalents		6,996
	Intangible assets		14,888

	Total assets acquired		6,023,958

	Total liabilities assumed		224,932

	Net assets acquired	$	5,799,026


Schedule of unaudited pro forma consolidated results of operations	'

	The following unaudited pro forma consolidated results of operations for the year ended December 31, 2011 assume that the HCR ManorCare Acquisition, including the Company's ownership interest in the operations of HCR ManorCare, was completed as of January 1, 2010 (in thousands, except per share amounts):


	Revenues	$	1,803,199
	Net income		673,036
	Net income applicable to HCP, Inc.		657,433
	Basic earnings per common share	$	1.56
	Diluted earnings per common share		1.56
Previously reported	'
Acquisition	'
Schedule of unaudited pro forma consolidated results of operations	'

	The amounts above were restated in 2013; the previous pro forma presentation assumed that HCR ManorCare Acquisition was completed as of January 1, 2011 (in thousands, except per share amounts); the previously reported amounts, adjusted for discontinued operations, as follows:


	Revenues	$	1,789,677
	Net income		659,514
	Net income applicable to HCP, Inc.		643,911
	Basic earnings per common share	$	1.53
	Diluted earnings per common share		1.52

Other_Real_Estate_Property_Inv1

Other Real Estate Property Investments (Tables)	12 Months Ended
Other Real Estate Property Investments (Tables)	Dec. 31, 2013
Acquisition	'
Schedule of other real estate acquisitions	'

	A summary of other real estate acquisitions for the year ended December 31, 2012 follows (in thousands):


		Consideration							Assets Acquired
	Acquisitions	Cash Paid		Debt and Other		Noncontrolling			Real Estate		Net
				Liabilities		Interest					Intangibles
				Assumed
	Senior housing	$	3,860	$	—	$	—		$	3,541	$	319
	Life science		7,964		—		86			7,580		470
	Medical office		171,654		60,597		42,648	-1		207,561		67,338
	Hospital		3,000		—		—			3,000		—

		$	186,478	$	60,597	$	42,734		$	221,682	$	68,127




	-1
	Represents non-managing member limited liability company units.

Blackstone JV \| Senior housing	'
Acquisition	'
Schedule of unaudited pro forma consolidated results of operations	'

	The following unaudited pro forma consolidated results of operations assume that the Blackstone JV Acquisition was completed as of January 1, 2011 (in thousands, except per share amounts):


		Year Ended December 31,
		2012		2011
	Revenues	$	1,966,303	$	1,798,018
	Net income		870,802		584,361
	Net income applicable to HCP, Inc.		856,500		568,758
	Basic earnings per common share	$	1.88	$	1.3
	Diluted earnings per common share		1.88		1.29

Dispositions_of_Real_Estate_an1

Dispositions of Real Estate and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2013
Dispositions of Real Estate and Discontinued Operations	'
Summary of income from discontinued operations, impairments and gain on sales of real estate included in discontinued operations	'

	The following table summarizes income from discontinued operations, impairments and gain on sales of real estate included in discontinued operations (dollars in thousands):


		Year Ended December 31,
		2013		2012		2011
	Rental and related revenues	$	16,649	$	33,777	$	32,555

	Depreciation and amortization expenses		5,862		12,808		11,340
	Operating expenses		3,929		3,304		1,472
	Other expense, net		979		3,467		4,486

	Income before impairments and gain on sales of real estate, net of income taxes	$	5,879	$	14,198	$	15,257


	Impairments	$	1,372	$	—	$	—


	Gain on sales of real estate, net of income taxes	$	69,866	$	31,454	$	3,107


	Number of properties included in discontinued operations		16		20		23

Net_Investment_in_Direct_Finan1

Net Investment in Direct Financing Leases (Tables)	12 Months Ended
Net Investment in Direct Financing Leases (Tables)	Dec. 31, 2013
Net Investment in Direct Financing Leases	'
Schedule of components of net investment in DFLs	'

	The components of net investment in DFLs consisted of the following (dollars in thousands):


		December 31,
		2013			2012
	Minimum lease payments receivable⁽¹⁾	$	24,808,386		$	25,217,520
	Estimated residual values		4,134,405			4,010,514
	Less unearned income		(21,789,392	)		(22,346,641	)

	Net investment in direct financing leases	$	7,153,399		$	6,881,393


	Properties subject to direct financing leases		364			361




	-1
	The minimum lease payments receivable are primarily attributable to HCR ManorCare, Inc. ("HCR ManorCare") ($23.5 billion and $24.0 billion at December 31, 2013 and 2012, respectively). The triple-net master lease with HCR ManorCare provides for annual rent of $506 million beginning April 1, 2013 (prior to April 1, 2013, annual rent was $489 million). The rent increases by 3.5% per year over the next three years and by 3% for the remaining portion of the initial lease term. The properties are grouped into four pools, and HCR ManorCare has a one-time extension option for each pool with rent increased for the first year of the extension option to the greater of fair market rent or a 3% increase over the rent for the prior year. Including the extension options, which the Company determined to be bargain renewal options, the four leased pools had total initial available terms ranging from 23 to 35 years.



Future minimum lease payments contractually due under DFLs	'

	Future minimum lease payments contractually due under DFLs at December 31, 2013, were as follows (in thousands):


	Year	Amount
	2014	$	594,270
	2015		606,618
	2016		626,713
	2017		638,775
	2018		656,263
	Thereafter		21,685,747

		$	24,808,386

Loans_Receivable_Tables

Loans Receivable (Tables)	12 Months Ended
Loans Receivable (Tables)	Dec. 31, 2013
Loans Receivable	'
Schedule of loans receivable	'

	The following table summarizes the Company's loans receivable (in thousands):


		December 31,
		2013									2012
		Real Estate			Other			Total			Real Estate		Other			Total
		Secured			Secured			Total			Secured		Secured			Total
	Mezzanine	$	—		$	234,455		$	234,455		$	—	$	145,150		$	145,150
	Other		147,669			—			147,669			147,264		—			147,264
	Unamortized discounts, fees and costs		—			(2,713	)		(2,713	)		—		(2,974	)		(2,974	)
	Allowance for loan losses		—			(13,410	)		(13,410	)		—		(13,410	)		(13,410	)

		$	147,669		$	218,332		$	366,001		$	147,264	$	128,766		$	276,030


Summary of loans receivable secured by real estate	'






	Final	Number			Payment Terms		Principal			Carrying
	Maturity	of					Amount			Amount
	Date	Loans
							(in thousands)
	2016		4	-1	aggregate monthly interest-only payments of $0.5 million, accrues interest at 8.5% and secured by four senior housing facilities located in Tennessee, Maryland, Pennsylvania and Texas			70,615			77,094
	2016		1		monthly interest-only payments of $0.2 million, accrues interest at 6.4%, and secured by five senior housing facilities located in Arizona, Minnesota and Texas			30,220			30,220
	2017		2	-1	aggregate monthly interest-only payments of $0.2 million, accrues interest at 8.25%, and secured by two senior housing facilities in New Jersey and Pennsylvania			33,045			34,395
	2018		1	-1	monthly interest-only payments of $37,000, accrues interest at 8.00% and secured by a senior housing facility located in Pennsylvania			5,799			5,960

			8				$	139,679		$	147,669




	-1
	Represents commitments to fund an aggregate of $141 million for seven senior housing development projects.

Investments_in_and_Advances_to1

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2013
Investments in and Advances to Unconsolidated Joint Ventures	'
HCP Ventures II purchase consideration	'

	The HCP Ventures II consideration was as follows (in thousands):


		January 14, 2011
	Cash paid for HCP Ventures II's partnership interest	$	135,550
	Fair value of HCP's 35% interest in HCP Ventures II (carrying value of $65,223 at closing)⁽¹⁾		72,992

	Total consideration	$	208,542


	Estimated fees and costs
	Legal, accounting, and other fees and costs⁽²⁾	$	150
	Debt assumption fees⁽³⁾		500

	Total	$	650




	-1
	At closing, the Company recognized a gain of approximately $8 million, included in other income, net, which represents the fair value of the Company's 35% interest in HCP Ventures II in excess of its carrying value as of the acquisition date.

	-2
	Represents estimated fees and costs that were expensed and included in general and administrative expenses.

	-3
	Represents debt assumption fees that were capitalized as deferred debt costs.



Summary of fair values of the HCP Ventures II assets acquired and liabilities assumed	'

	The following table summarizes the fair values of the HCP Ventures II assets acquired and liabilities assumed as of the acquisition date of January 14, 2011 (in thousands):


	Assets acquired
	Buildings and improvements	$	683,633
	Land		79,580
	Cash		2,585
	Restricted cash		1,861
	Intangible assets		78,293

	Total assets acquired	$	845,952


	Liabilities assumed
	Mortgage debt	$	635,182
	Other liabilities		2,228

	Total liabilities assumed		637,410

	Net assets acquired	$	208,542





Company owned interests in entities, accounted under equity method	'

	The Company owns interests in the following entities that are accounted for under the equity method at December 31, 2013 (dollars in thousands):


	Entity⁽¹⁾	Segment		Investment⁽²⁾			Ownership%
	HCR ManorCare	post-acute/skilled nursing operations		$	84,099			9.5
	HCP Ventures III, LLC	medical office			7,147			30
	HCP Ventures IV, LLC	medical office and hospital			29,715			20
	HCP Life Science⁽³⁾	life science			68,843			50-63
	Suburban Properties, LLC	medical office			6,403			67
	Advances to unconsolidated joint ventures, net				369

				$	196,576


	Edgewood Assisted Living Center, LLC	senior housing		$	(386	)		45
	Seminole Shores Living Center, LLC	senior housing			(625	)		50

				$	(1,011	)




	-1
	These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. See Note 2 regarding the Company's accounting policies related to principles of consolidation.

	-2
	Represents the carrying value of the Company's investment in the unconsolidated joint venture. See Note 2 regarding the Company's accounting policy for joint venture interests. At December 31, 2013, includes a senior housing partnership for which the Company has a 72% ownership with an investment balance of zero.

	-3
	Includes three unconsolidated joint ventures between the Company and an institutional capital partner for which the Company is the managing member. HCP Life Science includes the following partnerships (and the Company's ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).



Summarized combined financial information for unconsolidated joint ventures	'

	Summarized combined financial information for the Company's unconsolidated joint ventures follows (in thousands):


		December 31,
		2013			2012
	Real estate, net	$	3,662,450		$	3,731,740
	Goodwill and other assets, net		5,384,553			5,734,318

	Total assets	$	9,047,003		$	9,466,058


	Capital lease obligations and mortgage debt	$	6,768,815		$	6,875,932
	Accounts payable		1,045,260			971,095
	Other partners' capital		1,098,228			1,435,885
	HCP's capital⁽¹⁾		134,700			183,146

	Total liabilities and partners' capital	$	9,047,003		$	9,466,058




	-1
	The combined basis difference of the Company's investments in these joint ventures of $60 million, as of December 31, 2013, is primarily attributable to real estate, capital lease obligations, deferred tax assets, goodwill and lease-related net intangibles.


		Year Ended December 31,
		2013			2012			2011⁽¹⁾⁽²⁾
	Total revenues	$	4,269,156		$	4,260,319		$	4,388,376
	Net loss⁽³⁾		(362,379	)		(15,865	)		(827,306	)
	HCP's share in earnings⁽³⁾⁽⁴⁾		64,433			54,455			46,750
	Fees earned by HCP		1,847			1,895			2,073
	Distributions received by HCP		18,091			6,299			5,681


	-1
	Includes the financial information of HCP Ventures II, up to the date in which it was consolidated on January 14, 2011.

	-2
	Beginning April 7, 2011, includes the financial information of HCR ManorCare, in which the Company acquired an interest for $95 million that represented a 9.9% equity interest at closing.

	-3
	The combined net loss for the year ended December 31, 2011 includes impairments, net of the related tax benefit, of $865 million related to HCR ManorCare's goodwill and intangible assets. The impairments at the operating entity were the result of reduced cash flows primarily caused by the reimbursement reductions for the Medicare skilled nursing facility Prospective Payment System announced by the Centers for Medicare & Medicaid Services effective October 1, 2011. The combined net loss for the year ended December 31, 2013 includes tax expense of $400 million related to recording of a valuation allowance which was necessary to reduce the carrying value of HCR ManorCare's deferred tax assets to an amount that is more likely than not to be realized as determined by HCR ManorCare's management. HCR ManorCare's goodwill, intangible assets and deferred tax assets were not previously considered in the Company's initial investments in the operations of HCR ManorCare; therefore, the related impairments and valuation allowance against the carrying value of the deferred tax assets did not impact the Company's recorded investment. As such, HCR ManorCare's impairments during the year ended December 31, 2011 and tax expense related to the valuation allowance during the year ended December 31, 2013 did not have an impact on the Company's share of earnings from or its investment in HCR ManorCare.

	-4
	The Company's joint venture interest in HCR ManorCare is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP's ownership in HCR ManorCare. As required to eliminate intercompany profit, the Company recharacterized $62.1 million, $59.4 million and $42.2 million of DFL income to the Company's share of earnings from HCR ManorCare (equity income) for the years ended December 31, 2013, 2012 and 2011, respectively.

Intangibles_Tables

Intangibles (Tables)	12 Months Ended
Intangibles (Tables)	Dec. 31, 2013
Intangibles	'
Schedule of intangible lease assets	'

	The Company's intangible lease assets were (in thousands):


		December 31,
	Intangible lease assets	2013			2012
	Lease-up intangibles	$	578,143		$	580,319
	Above market tenant lease intangibles		144,355			153,141
	Below market ground lease intangibles		58,939			58,939

	Gross intangible lease assets		781,437			792,399
	Accumulated depreciation and amortization		(291,595	)		(240,662	)

	Net intangible lease assets	$	489,842		$	551,737


Schedule of intangible lease liabilities	'

	The Company's intangible lease liabilities were (in thousands):


		December 31,
	Intangible lease liabilities	2013			2012
	Below market lease intangibles	$	201,234		$	188,534
	Above market ground lease intangibles		6,121			6,091

	Gross intangible lease liabilities		207,355			194,625
	Accumulated depreciation and amortization		(108,545	)		(90,445	)

	Net intangible lease liabilities	$	98,810		$	104,180


Estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter	'

	Estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter follows (in thousands):


		Intangible			Intangible
		Assets			Liabilities
	2014	$	69,556		$	16,728
	2015		65,639			16,171
	2016		61,395			15,643
	2017		53,847			13,674
	2018		41,791			11,290
	Thereafter		197,614			25,304

		$	489,842		$	98,810

Other_Assets_Tables

Other Assets (Tables)	12 Months Ended
Other Assets (Tables)	Dec. 31, 2013
Other Assets.	'
Schedule of other assets	'

	The Company's other assets consisted of the following (in thousands):


		December 31,
		2013		2012
	Straight-line rent assets, net of allowance of $34,230 and $33,521, respectively	$	368,919	$	306,294
	Marketable debt securities⁽¹⁾		244,089		222,809
	Leasing costs, net		104,601		93,763
	Deferred financing costs, net		42,106		45,490
	Goodwill		50,346		50,346
	Marketable equity securities		—		24,829
	Other⁽²⁾		57,644		44,989

	Total other assets	$	867,705	$	788,520




	-1
	Includes £137.0 million of Four Seasons senior unsecured notes translated into U.S. dollars (see below for additional information).

	-2
	Includes a $5.4 million allowance for losses related to accrued interest receivable on the Delphis loan. At both December 31, 2013 and 2012, the net carrying value of interest accrued related to the Delphis loan was zero. See Note 7 for additional information about the Delphis loan and the related impairment. At both December 31, 2013 and 2012, includes a loan receivable of $10 million from HCP Ventures IV, LLC, an unconsolidated joint venture (see Note 8 for additional information) with an interest rate of 12% which matures in May 2014. The loan is secured by the Company's joint venture partner's 80% partnership interest in the joint venture.

Debt_Tables

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 31, 2013
Debt Instrument	'
Summary of stated debt maturities and scheduled principal repayments	'

	The following table summarizes the Company's stated debt maturities and scheduled principal repayments at December 31, 2013 (in thousands):


	Year	Term Loan⁽¹⁾			Senior			Mortgage			Total⁽²⁾
					Unsecured			Debt
					Notes
	2014	$	—		$	487,000		$	179,525		$	666,525
	2015		—			400,000			308,421			708,421
	2016		226,858			900,000			291,738			1,418,596
	2017		—			750,000			550,477			1,300,477
	2018		—			600,000			6,583			606,583
	Thereafter		—			3,850,000			65,242			3,915,242

			226,858			6,987,000			1,401,986			8,615,844
	Discounts, net		—			(23,625	)		(5,501	)		(29,126	)

		$	226,858		$	6,963,375		$	1,396,485		$	8,586,718




	-1
	Represents £137 million translated into U.S. dollars as of December 31, 2013.

	-2
	Excludes $75 million of other debt that represents Life Care Bonds, which have no scheduled maturities.

Senior Unsecured Notes	'
Debt Instrument	'
Summary of debt outstanding and weighted average interest rate	'

	The following is a summary of senior unsecured notes outstanding by maturity date at December 31, 2013 (dollars in thousands):


	Maturity	Principal			Weighted
		Amount			Average
					Interest
					Rate
	2014	$	487,000			3.21	%
	2015		400,000			6.57
	2016		900,000			5.1
	2017		750,000			6.03
	2018		600,000			6.83
	2019		450,000			3.96
	2020		800,000			2.79
	2021		1,200,000			5.6
	2022		300,000			3.39
	2023		800,000			4.41
	2041		300,000			6.88

			6,987,000
	Discounts, net		(23,625	)

		$	6,963,375


Mortgage Debt	'
Debt Instrument	'
Summary of debt outstanding and weighted average interest rate	'

	The following is a summary of mortgage debt outstanding by maturity date at December 31, 2013 (dollars in thousands):


	Maturity	Amount			Weighted
					Average
					Interest
					Rate
	2014	$	179,525			5.8	%
	2015		308,421			5.96
	2016		291,738			6.89
	2017		550,477			6.2
	2018		6,583			5.9
	Thereafter		65,242			5.09

			1,401,986
	Discounts, net		(5,501	)

		$	1,396,485

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2013
Commitments and Contingencies.	'
Schedule of concentration of credit risk by segments	'

	Segment Concentrations:


		Percentage of				Percentage of
		Senior Housing Gross Assets				Senior Housing Revenues
		December 31,				Year Ended December 31,
	Operators	2013		2012		2013		2012		2011
	Emeritus Corporation ("Emeritus")⁽¹⁾		37		37		35		23		24
	Sunrise⁽²⁾		17		18		13		16		19
	HCR ManorCare⁽³⁾		11		11		10		11		10
	Brookdale Senior Living ("Brookdale")⁽⁴⁾		11		11		12		14		22





		Percentage of Post-Acute/				Percentage of Post-Acute/
		Skilled Nursing Gross Assets				Skilled Nursing Revenues
		December 31,				Year Ended December 31,
	Operators	2013		2012		2013		2012		2011
	HCR ManorCare⁽³⁾		89		90		83		91		85

	Total Company Concentrations:


		Percentage of				Percentage of
		Total Company Assets				Total Company Revenues
		December 31,				Year Ended December 31,
	Operators	2013		2012		2013		2012		2011
	HCR ManorCare⁽³⁾		32		31		28		30		28
	Emeritus⁽¹⁾		14		14		13		8		7
	Sunrise⁽²⁾		7		7		5		5		6
	Brookdale⁽⁴⁾		4		4		4		5		7


	-1
	Percentage of total revenues from Emeritus for the year ended December 31, 2012 includes partial results for the Blackstone JV acquisition. Assuming that full-year results were included for this acquisition in the Company's 2012 revenues, the percentage of segment revenues and total revenues would be 37% and 12%, respectively.

	-2
	Certain of the Company's properties are leased to tenants who have entered into management contracts with Sunrise to operate the respective property on their behalf. The Company's concentration of gross assets includes properties directly leased to Sunrise and properties that are managed by Sunrise on behalf of third party tenants.

	-3
	On April 7, 2011, the Company completed the acquisition of HCR ManorCare's real estate assets, which included the settlement of the Company's HCR ManorCare debt investments, see Notes 3 and 7 for additional information.

	-4
	Percentages do not include senior housing facilities that Brookdale operates on the Company's behalf under a RIDEA structure.

Summary of annualized base rent from leases subject to purchase options, summarized by the year the purchase options are exercisable	'

	Annualized base rent from leases subject to purchase options, summarized by the year the purchase options are exercisable are as follows (dollars in thousands):


	Year	Annualized		Number of
	Year	Base Rent⁽¹⁾		Properties
	2014	$	21,541		11
	2015		55,397		35
	2016		40,098		18
	2017		6,969		3
	2018		19,204		5
	Thereafter		102,367		62

		$	245,576		134




	-1
	Represents the most recent month's base rent including additional rent floors and cash income from direct financing leases annualized for 12 months. Base rent does not include tenant recoveries, additional rents in excess of floors and non-cash revenue adjustments (i.e., straight-line rents, amortization of above and below market lease intangibles, DFL interest accretion and deferred revenues).

Future minimum lease obligations under non-cancelable ground and other operating leases	'

	Future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2013 were as follows (in thousands):


	Year	Amount
	2014	$	6,303
	2015		5,781
	2016		4,620
	2017		3,880
	2018		3,659
	Thereafter		195,883

		$	220,126

Equity_Tables

Equity (Tables)	12 Months Ended
Equity (Tables)	Dec. 31, 2013
Equity	'
Schedule of company's other issuances of common stock	'






		Year Ended
		December 31,
		2013			2012			2011
		(shares
		in thousands)
	Dividend Reinvestment and Stock Purchase Plan		2,441			1,064			1,910
	Conversion of DownREIT units		100			736			80
	Exercise of stock options		876			2,455			1,157
	Vesting of restricted stock units⁽¹⁾		471			707			228


	-1
	Issued under the Company's 2006 Performance Incentive Plan, as amended and restated.

Schedule of accumulated other comprehensive loss	'

	The following is a summary of the Company's accumulated other comprehensive loss (in thousands):


		December 31,
		2013			2012
	Unrealized gains on available for sale securities	$	—		$	7,776
	Unrealized losses on cash flow hedges, net		(10,797	)		(18,452	)
	Supplemental Executive Retirement Plan minimum liability		(2,910	)		(3,150	)
	Cumulative foreign currency translation adjustment		(780	)		(827	)

	Total accumulated other comprehensive loss	$	(14,487	)	$	(14,653	)

Segment_Disclosures_Tables

Segment Disclosures (Tables)	12 Months Ended
Segment Disclosures (Tables)	Dec. 31, 2013
Segment Disclosures	'
Information of revenue of reportable segment	'

	Summary information for the reportable segments follows (in thousands):

	For the year ended December 31, 2013:


	Segments	Rental			Resident			Interest			Investment		Total		NOI⁽²⁾		Adjusted
		Revenues⁽¹⁾			Fees and			Income			Management		Revenues				NOI⁽²⁾
					Services						Fee Income						(Cash NOI)
	Senior housing	$	602,506		$	146,288		$	11,621		$	—	$	760,415	$	653,191	$	594,492
	Post-acute/skilled nursing		541,805			—			73,595			—		615,400		539,320		467,508
	Life science		296,879			—			—			4		296,883		239,923		228,475
	Medical office		352,334			—			—			1,843		354,177		212,958		210,811
	Hospital		72,060			—			943			—		73,003		68,198		79,752

	Total	$	1,865,584		$	146,288		$	86,159		$	1,847	$	2,099,878	$	1,713,590	$	1,581,038



	For the year ended December 31, 2012:


	Segments	Rental			Resident			Interest			Investment		Total		NOI⁽²⁾		Adjusted
		Revenues⁽¹⁾			Fees and			Income			Management		Revenues				NOI⁽²⁾
					Services						Fee Income						(Cash NOI)
	Senior housing	$	481,559		$	139,073		$	3,503		$	—	$	624,135	$	529,209	$	478,671
	Post-acute/skilled nursing		530,037			—			19,993			—		550,030		529,562		453,456
	Life science		289,664			—			—			4		289,668		236,491		226,997
	Medical office		333,008			—			—			1,891		334,899		200,876		195,761
	Hospital		80,198			—			1,040			—		81,238		76,685		75,104

	Total	$	1,714,466		$	139,073		$	24,536		$	1,895	$	1,879,970	$	1,572,823	$	1,429,989



	For the year ended December 31, 2011:


	Segments	Rental			Resident			Interest			Investment		Total		NOI⁽²⁾		Adjusted
		Revenues⁽¹⁾			Fees and			Income			Management		Revenues				NOI⁽²⁾
					Services						Fee Income						(Cash NOI)
	Senior housing	$	469,251		$	49,091		$	178		$	70	$	518,590	$	484,970	$	432,047
	Post-acute/skilled nursing		388,633			—			98,450			—		487,083		388,214		331,134
	Life science		288,151			—			—			4		288,155		235,355		212,250
	Medical office		318,368			—			—			1,999		320,367		190,584		184,408
	Hospital		78,987			—			1,236			—		80,223		74,657		72,707

	Total	$	1,543,390		$	49,091		$	99,864		$	2,073	$	1,694,418	$	1,373,780	$	1,232,546




	-1
	Represents rental and related revenues, tenant recoveries, and income from DFLs.

	-2
	NOI is a non-GAAP supplemental financial measure used to evaluate the operating performance of real estate. The Company defines NOI as rental and related revenues, including tenant recoveries, resident fees and services, and income from DFLs, less property level operating expenses. NOI excludes interest income, investment management fee income, interest expense, depreciation and amortization, general and administrative expenses, litigation settlement, impairments, impairment recoveries, other income, net, income taxes, equity income from and impairments of investments in unconsolidated joint ventures, and discontinued operations. The Company believes NOI provides relevant and useful information because it reflects only income and operating expense items that are incurred at the property level and presents them on an unleveraged basis. Adjusted NOI is calculated as NOI after eliminating the effects of straight-line rents, DFL accretion, amortization of above and below market lease intangibles, and lease termination fees. Adjusted NOI is sometimes referred to as "cash NOI." The Company uses NOI and adjusted NOI to make decisions about resource allocations and to assess and compare property level performance. The Company believes that net income is the most directly comparable GAAP measure to NOI. NOI should not be viewed as an alternative measure of operating performance to net income as defined by GAAP because it does not reflect the aforementioned excluded items. Further, the Company's definition of NOI may not be comparable to the definition used by other REITs or real estate companies, as those companies may use different methodologies for calculating NOI.



Reconciliation from reported net income to NOI and adjusted NOI	'

	The following is a reconciliation from reported net income to NOI and adjusted (cash) NOI (in thousands):


		Years ended December 31,
		2013			2012			2011
	Net income	$	985,006		$	846,842		$	554,494
	Interest income		(86,159	)		(24,536	)		(99,864	)
	Investment management fee income		(1,847	)		(1,895	)		(2,073	)
	Interest expense		435,252			416,172			415,455
	Depreciation and amortization		423,312			353,704			346,055
	General and administrative		109,233			79,395			96,059
	Litigation settlement and provision		—			—			125,000
	Impairments		—			7,878			15,400
	Other income, net		(18,216	)		(2,976	)		(12,933	)
	Income taxes		5,815			(1,654	)		1,301
	Equity income from unconsolidated joint ventures		(64,433	)		(54,455	)		(46,750	)
	Total discontinued operations		(74,373	)		(45,652	)		(18,364	)

	NOI		1,713,590			1,572,823			1,373,780
	Straight-line rents		(39,587	)		(47,311	)		(59,173	)
	DFL accretion		(86,055	)		(94,240	)		(74,007	)
	Amortization of above and below market lease intangibles, net		(6,646	)		(2,232	)		(4,510	)
	Lease termination fees		(217	)		(636	)		(5,873	)
	NOI adjustments related to discontinued operations		(47	)		1,585			2,329

	Adjusted (Cash) NOI	$	1,581,038		$	1,429,989		$	1,232,546





Reconciliation of company's assets to total assets	'

	The Company's total assets by segment were (in thousands):


		December 31,
	Segments	2013			2012
	Senior housing	$	7,803,085		$	7,638,316
	Post-acute/skilled nursing		6,266,938			6,039,575
	Life science		3,986,187			3,932,397
	Medical office		2,686,069			2,643,893
	Hospital		639,357			702,102

	Gross segment assets		21,381,636			20,956,283
	Accumulated depreciation and amortization		(2,257,188	)		(1,933,311	)

	Net segment assets		19,124,448			19,022,972
	Assets held-for-sale, net		9,819			56,659
	Other non-segment assets		941,603			835,924

	Total assets	$	20,075,870		$	19,915,555

Future_Minimum_Rents_Tables

Future Minimum Rents (Tables)	12 Months Ended
Future Minimum Rents (Tables)	Dec. 31, 2013
Future Minimum Rents	'
Future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases	'

	Future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases as of December 31, 2013, are as follows (in thousands):


	Year	Amount
	2014	$	1,056,273
	2015		1,028,424
	2016		991,159
	2017		929,408
	2018		847,918
	Thereafter		3,718,573

		$	8,571,755

Compensation_Plans_Tables

Compensation Plans (Tables)	12 Months Ended
Compensation Plans (Tables)	Dec. 31, 2013
Compensation Plans	'
Summary of the option activity	'

	A summary of the stock option activity in 2013 is presented in the following table (dollars and shares in thousands, except per share amounts):


		Shares			Weighted			Weighted			Aggregate
		Under Options			Average			Average			Intrinsic
					Exercise			Remaining			Value
					Price			Contractual
								Term (Years)
	Outstanding as of January 1, 2013		3,127		$	31.16			6.9		$	43,774
	Granted		499			46.92
	Exercised		(1,300	)		29.17
	Forfeited		(104	)		33.29

	Outstanding as of December 31, 2013		2,222			35.77			5			8,870


	Exercisable as of December 31, 2013		1,281			35.64			3.3			4,924





Summary additional information concerning outstanding and exercisable stock options	'

	The following table summarizes additional information concerning outstanding and exercisable stock options at December 31, 2013 (shares in thousands):


								Weighted			Currently Exercisable
								Average
								Remaining
					Weighted			Contractual
					Average			Term (Years)
					Exercise
	Range of	Shares Under			Price						Shares Under		Weighted
	Exercise Price	Options									Options		Average
													Exercise Price
	$23.34 - $25.52		456		$	23.34			4.1			262	$	23.34
	27.11 - 28.35		342			28.35			4.8			162		28.35
	31.95 - 46.92		1,424			41.53			5.3			857		40.78

			2,222			35.77			5			1,281		35.64





Summary of additional information concerning unvested stock options	'

	The following table summarizes additional information concerning unvested stock options at December 31, 2013 (shares in thousands):


		Shares			Weighted
		Under			Average
		Options			Grant Date Fair
					Value
	Unvested at January 1, 2013		2,588		$	4.3
	Granted		499			5.89
	Vested		(2,042	)		4.3
	Forfeited		(104	)		4.75

	Unvested at December 31, 2013		941			5.09





Assumptions used for estimating fair value of stock options using Black-Scholes option valuation model	'






		2013			2012			2011
	Risk-free rate		0.78	%		1.09	%		2.58	%
	Expected life (in years)		4.5			5.9			6.5
	Expected volatility		28.9	%		32.7	%		31.8	%
	Expected dividend yield		5.8	%		5.9	%		6.1	%
Summary of additional information concerning restricted stock and restricted stock units	'

	The following table summarizes additional information concerning restricted stock and restricted stock units at December 31, 2013 (units and shares in thousands):


		Restricted			Weighted			Restricted			Weighted
		Stock			Average			Shares			Average
		Units			Grant Date						Grant Date
					Fair Value						Fair Value
	Unvested at January 1, 2013		1,220		$	35.16			145		$	27.24
	Granted		502			45.96			144			41.77
	Vested		(471	)		36.58			(43	)		31.65
	Forfeited		(43	)		41.79			(20	)		26.84

	Unvested at December 31, 2013		1,208			38.82			226			35.7

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2013
Income Taxes	'
Reconciliation of unrecognized tax benefits	'

	A reconciliation of the Company's beginning and ending unrecognized tax benefits follows (in thousands):


		Amount
	Balance at January 1, 2011	$	6,890
	Additions based on prior years' tax positions		1,783
	Reductions based on prior years' tax positions		(6,890	)
	Additions based on 2011 tax positions		194

	Balance at December 31, 2011		1,977
	Reductions based on prior years' tax positions		—
	Additions based on 2012 tax positions		—

	Balance at December 31, 2012		1,977
	Reductions based on prior years' tax positions		(890	)
	Additions based on 2013 tax positions		—

	Balance at December 31, 2013	$	1,087

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	12 Months Ended
Earnings Per Common Share (Tables)	Dec. 31, 2013
Earnings Per Common Share	'
Computation of basic and diluted earnings per share	'

	The following table illustrates the computation of basic and diluted earnings per share (dollars in thousands, except per share data):


		Year Ended December 31,
		2013			2012			2011
	Numerator
	Income from continuing operations	$	910,633		$	801,190		$	536,130
	Noncontrolling interests' share in continuing operations		(14,110	)		(12,411	)		(15,484	)

	Income from continuing operations applicable to HCP, Inc.		896,523			788,779			520,646
	Preferred stock dividends		—			(17,006	)		(21,130	)
	Participating securities' share in continuing operations		(1,734	)		(3,245	)		(2,459	)

	Income from continuing operations applicable to common shares		894,789			768,528			497,057
	Discontinued operations		74,373			45,652			18,364
	Noncontrolling interests' share in discontinued operations		(59	)		(1,891	)		(119	)

	Net income applicable to common shares	$	969,103		$	812,289		$	515,302


	Denominator
	Basic weighted average common shares		455,002			427,047			398,446
	Dilutive potential common shares		700			1,269			1,772

	Diluted weighted average common shares		455,702			428,316			400,218


	Basic earnings per common share
	Income from continuing operations	$	1.97		$	1.8		$	1.25
	Discontinued operations		0.16			0.1			0.04

	Net income applicable to common stockholders	$	2.13		$	1.9		$	1.29


	Diluted earnings per common share
	Income from continuing operations	$	1.97		$	1.8		$	1.25
	Discontinued operations		0.16			0.1			0.04

	Net income applicable to common shares	$	2.13		$	1.9		$	1.29

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	12 Months Ended
Supplemental Cash Flow Information (Tables)	Dec. 31, 2013
Supplemental Cash Flow Information	'
Supplemental Cash Flow Information	'






		Year Ended December 31,
		2013		2012		2011
		(in thousands)
	Supplemental cash flow information:
	Interest paid, net of capitalized interest	$	412,011	$	389,753	$	348,455
	Income taxes paid		114		1,790		1,710
	Capitalized interest		13,494		23,360		26,402
	Supplemental schedule of non-cash investing activities:
	Accrued construction costs		15,187		14,157		11,525
	Reclassification of the in-place leases from real estate to DFLs		123,891		—		—
	Fair value of real estate acquired in exchange for sale of real estate		15,204		—		—
	Settlement of loans receivable as consideration for the HCR ManorCare Acquisition		—		—		1,990,406
	Supplemental schedule of non-cash financing activities:
	Vesting of restricted stock units		471		707		228
	Cancellation of restricted stock		20		8		35
	Conversion of non-managing member units into common stock		3,583		24,988		3,456
	Noncontrolling interests issued in connection with acquisitions		—		42,734		1,500
	Mortgages included in the consolidation of HCP Ventures II		—		—		635,182
	Mortgages and other liabilities assumed with real estate acquisitions		12,767		60,597		57,869
	Unrealized gains (losses), net on available for sale securities and derivatives designated as cash flow hedges		7,790		4,649		(9,763	)

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	12 Months Ended
Variable Interest Entities (Tables)	Dec. 31, 2013
Variable Interest Entities	'
Variable Interest Entities	'

	The carrying value and classification of the related assets, liabilities and maximum exposure to loss as a result of the Company's involvement with these VIEs are presented below at December 31, 2013 (in thousands):


	VIE Type	Maximum Loss		Asset/Liability Type	Carrying
	VIE Type	Exposure⁽¹⁾		Asset/Liability Type	Amount
	VIE tenants—operating leases	$	251,091	Lease intangibles, net and straight-line rent receivables	$	14,300
	VIE tenants—DFLs		1,081,415	Net investment in DFLs		601,970
	Loan—senior secured		18,071	Loans receivable, net		18,071
	Debt investment		17,071	Marketable debt securities		17,071


	-1
	The Company's maximum loss exposure related to the VIE tenants represents the future minimum lease payments over the remaining term of the respective leases, which may be mitigated by re-leasing the properties to new tenants. The Company's maximum loss exposure related to its loans and marketable debt securities to the VIE borrowers represents its current aggregate carrying amount.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2013
Fair Value Measurements	'
Fair value measurements of financial assets and liabilities	'

	The financial assets and liabilities carried at fair value on a recurring basis at December 31, 2013 are as follows (in thousands):


	Financial assets and liabilities	Fair Value			Level 2			Level 3
	Interest-rate swap asset⁽¹⁾	$	2,325		$	2,325		$	—
	Interest-rate swap liabilities⁽¹⁾		(8,384	)		(8,384	)		—
	Currency swap liabilities⁽¹⁾		(2,756	)		(2,756	)		—
	Warrants⁽¹⁾		114			—			114

		$	(8,701	)	$	(8,815	)	$	114




	-1
	Interest rate and currency swaps as well as common stock warrant fair values are determined based on observable and unobservable market assumptions utilizing standardized derivative pricing models.

Disclosures_About_Fair_Value_o1

Disclosures About Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2013
Disclosures About Fair Value of Financial Instruments	'
Summary of the carrying amounts and fair values of financial instruments	'






		December 31,
		2013				2012
		Carrying		Fair Value		Carrying		Fair Value
		Amount		Fair Value		Amount		Fair Value
		(in thousands)
	Loans receivable, net⁽²⁾	$	366,001	$	373,441	$	276,030	$	279,850
	Marketable debt securities⁽³⁾		244,089		280,850		222,809		234,137
	Marketable equity securities⁽¹⁾		—		—		24,829		24,829
	Warrants⁽³⁾		114		114		670		670
	Term loan⁽²⁾		226,858		226,858		222,694		222,694
	Senior unsecured notes⁽¹⁾		6,963,375		7,405,817		6,712,624		7,432,012
	Mortgage debt⁽²⁾		1,396,485		1,421,214		1,676,544		1,771,155
	Other debt⁽²⁾		74,909		74,909		81,958		81,958
	Interest-rate swap asset⁽²⁾		2,325		2,325		89		89
	Interest-rate swap liability⁽²⁾		8,384		8,384		12,699		12,699
	Currency swap liabilities⁽²⁾		2,756		2,756		2,641		2,641


	-1
	Level 1: Fair value calculated based on quoted prices in active markets.

	-2
	Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing model derived valuations in which significant inputs or value drivers are observable in active markets.

	-3
	Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	12 Months Ended
Derivative Financial Instruments (Tables)	Dec. 31, 2013
Derivative Financial Instruments	'
Schedule of derivative instruments	'

	The following table summarizes the Company's outstanding interest-rate and foreign currency swap contracts as of December 31, 2013 (dollars and GBP in thousands):


	Date Entered	Maturity Date	Hedge		Fixed			Floating/Exchange Rate Index		Notional/Sell			Fair Value⁽¹⁾
			Designation		Rate/Buy					Amount
					Amount
	July 2005⁽²⁾	Jul-20	Cash Flow			3.82	%	BMA Swap Index		$	45,600		$	(5,681	)
	November 2008⁽³⁾	Oct-16	Cash Flow			5.95	%	1 Month LIBOR+1.50%		$	26,400			(2,703	)
	July 2012⁽⁴⁾	Jun-16	Cash Flow			1.81	%	1 Month GBP LIBOR+1.20%			£137,000			2,325
	July 2012⁽⁵⁾	Jun-16	Cash Flow		$	56,800		Buy USD/Sell GBP			£ 36,200			(2,756	)


	-1
	Interest-rate and foreign currency swap assets are recorded in other assets, net and interest-rate and foreign currency swap liabilities are recorded in accounts payable and accrued liabilities on the consolidated balance sheets.

	-2
	Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows.

	-3
	Acquired in conjunction with mortgage debt assumed related to real estate acquired on December 28, 2010. Hedges fluctuations in interest payments on variable-rate secured debt due to fluctuations in the underlying benchmark interest rate.

	-4
	Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate.

	-5
	Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to a portion of the Company's forecasted interest receipts on GBP denominated senior unsecured notes. Represents five foreign exchange contracts to sell £7.2 million at a rate of 1.5695 on various dates through June 2016.



Schedule of effect of change in interest and foreign currency rate	'

	The following table summarizes the results of the analysis performed (dollars in thousands):


			Effects of Change in Interest and Foreign
			Currency Rates
	Date Entered	Maturity Date	+50 Basis			-50 Basis			+100 Basis			-100 Basis
	Date Entered	Maturity Date	Points			Points			Points			Points
	Jul-05	Jul-20	$	1,400		$	(1,381	)	$	2,791		$	(2,772	)
	Nov-08	Oct-16		363			(353	)		722			(711	)
	Jul-12	Jun-16		3,019			(2,490	)		5,774			(5,244	)
	Jul-12	Jun-16		(657	)		(57	)		(957	)		243

Selected_Quarterly_Financial_D1

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
Selected Quarterly Financial Data (Unaudited) (Tables)	Dec. 31, 2013
Selected Quarterly Financial Data (Unaudited)	'
Selected quarterly information	'

	Selected quarterly information for the years ended December 31, 2013 and 2012 is as follows (in thousands, except per share amounts). Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:


		Three Months Ended During 2013
		March 31		June 30		September 30		December 31
	Total revenues	$	511,184	$	512,239	$	546,158	$	530,297
	Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		217,667		199,916		214,176		220,256
	Total discontinued operations		2,232		2,828		9,824		59,489
	Net income		233,784		216,725		236,858		297,639
	Net income applicable to HCP, Inc.		230,585		213,401		233,756		293,095
	Dividends paid per common share		0.525		0.525		0.525		0.525
	Basic earnings per common share		0.51		0.47		0.51		0.64
	Diluted earnings per common share		0.51		0.47		0.51		0.64





		Three Months Ended During 2012
		March 31		June 30		September 30		December 31
	Total revenues	$	450,608	$	456,130	$	469,999	$	503,233
	Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		176,483		186,931		181,457		200,210
	Total discontinued operations		5,671		2,465		3,607		33,909
	Net income		196,564		204,975		199,043		246,260
	Net income applicable to HCP, Inc.		193,380		202,024		196,108		241,028
	Dividends paid per common share		0.5		0.5		0.5		0.5
	Basic earnings per common share		0.43		0.48		0.46		0.54
	Diluted earnings per common share		0.43		0.48		0.45		0.53

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2013
	item
Summary of Significant Accounting Policies	'
Residency agreement term, minimum	'30 days
Residency agreement term, maximum	'1 year
Maximum period available for occupancy from cessation of significant construction activity	'1 year
Maximum useful life of building and improvements	'50 years
Failure to qualify as REIT, ineligibility period	'4 years
Number of reportable segments	5

HCR_ManorCare_Acquisition_Deta

HCR ManorCare Acquisition (Details) (USD $)	12 Months Ended			0 Months Ended	1 Months Ended	9 Months Ended	12 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Apr. 07, 2011	Mar. 31, 2011	Dec. 31, 2011	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2011
				HCR ManorCare	HCR ManorCare	HCR ManorCare	HCR ManorCare	HCR ManorCare	HCR ManorCare
				item					Previously reported
Acquisition	'	'	'	'	'	'	'	'	'
Number of post-acute, skilled nursing and assisted living facilities acquired	'	'	'	334	'	'	'	'	'
Number of states where acquired post-acute, skilled nursing and assisted living facilities are located	'	'	'	30	'	'	'	'	'
Amount paid for additional equity interest acquired through exercise of option	'	'	'	$95,000,000	'	'	'	'	'
Equity method investment (as a percent)	'	'	'	9.90%	'	'	'	9.40%	'
Total purchase price consideration	'	'	'	'	'	'	'	'	'
Payment of aggregate cash consideration, net of cash acquired	'	186,478,000	'	3,801,624,000	'	'	'	'	'
HCP's loan investments in HCR ManorCare's debt settled at fair value	'	'	1,990,406,000	1,990,406,000	'	'	'	'	'
Assumed HCR ManorCare accrued liabilities at fair value	'	'	'	224,932,000	'	'	'	'	'
Total purchase consideration	'	'	'	6,016,962,000	'	'	'	'	'
Legal, accounting and other fees and costs	'	'	'	26,839,000	'	'	'	'	'
Gain on settlement of loan investments	'	'	'	23,000,000	'	'	'	'	'
Cost of transaction classified as general and administrative expense	'	'	'	16,000,000	'	'	'	'	'
Cost of transaction classified as interest expense	'	'	'	11,000,000	'	'	'	'	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]	'	'	'	'	'	'	'	'	'
Net investments in direct financing leases	'	'	'	6,002,074,000	'	'	'	'	'
Cash and cash equivalents	'	'	'	6,996,000	'	'	'	'	'
Intangible assets, net	'	'	'	14,888,000	'	'	'	'	'
Total assets acquired	'	'	'	6,023,958,000	'	'	'	'	'
Total liabilities assumed	'	60,597,000	'	224,932,000	'	'	'	'	'
Net assets acquired	'	'	'	5,799,026,000	'	'	'	'	'
Other acquisition disclosures	'	'	'	'	'	'	'	'	'
Length of bridge loan facility term	'	'	'	'365 days	'	'	'	'	'
Bridge loan commitments obtained from a syndicate of banks	'	'	'	3,300,000,000	'	'	'	'	'
Charge incurred in interest expense related to write-off of unamortized loan fees associated with bridge loan facility	'	'	'	'	11,000,000	'	'	'	'
Net income (loss)	'	'	'	'	'	412,000,000	'	'	'
Net income (loss)	64,433,000	54,455,000	46,750,000	'	'	45,000,000	'	'	'
Unaudited pro forma consolidated results of operations	'	'	'	'	'	'	'	'	'
Revenues	'	'	'	'	'	'	1,803,199,000	'	1,789,677,000
Net income	'	'	'	'	'	'	673,036,000	'	659,514,000
Net income applicable to HCP, Inc.	'	'	'	'	'	'	$657,433,000	'	$643,911,000
Basic earnings per common share (in dollars per share)	'	'	'	'	'	'	$1.56	'	$1.53
Diluted earnings per common share (in dollars per share)	'	'	'	'	'	'	$1.56	'	$1.52

Other_Real_Estate_Property_Inv2

Other Real Estate Property Investments (Details) (USD $)

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

3 Months Ended

12 Months Ended

6 Months Ended

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Mar. 31, 2013

Senior housing

Blackstone JV

Senior housing

item

Emeritus Corporation

Minimum

Maximum

item

Real Estate Secured

Emeritus Corporation

item

Acquisition

Acquisition of facility

$18,000,000

$38,000,000

$1,700,000,000

Consideration, Cash Paid

186,478,000

3,860,000

1,740,000,000

Number of senior housing communities

129

133

Number of individual leases

Number of properties operated pursuant to a new triple-net master lease

128

Number of states where acquired senior housing communities are located

Percentage of assisted living units

61.00%

Percentage of independent living units

25.00%

Percentage of memory care units

13.00%

Percentage of skilled nursing

1.00%

Number of communities that are stabilized

Number of communities currently lease-up

Number of stages for acquisition to close

Liabilities assumed

60,597,000

13,000,000

Assets Acquired, Real Estate

221,682,000

3,541,000

1,570,000,000

Assets Acquired, Net Intangibles

68,127,000

319,000

174,000,000

Consideration, assumed intangible liabilities

4,000,000

Percentage of resident occupancy

80.00%

Number of triple net master leases

Rental and related revenues

1,056,273,000

105,800,000

Rate of increase in minimum lease revenue per year on average over the initial 5 years of the lease (as a percent)

3.70%

Initial lease term with Emeritus Corporation

'5 years

Rate of increase in minimum lease revenue per year for remaining years of lease term (as a percent)

3.00%

Percentage of operating leases basis spread on variable floor rate

103.00%

Percentage of operating leases basis spread on variable cap rate

130.00%

Net revenue

22,000,000

Net income (loss)

14,000,000

Number of asset pools

Initial available term of asset pools

'14 years

'16 years

Number of extension options with Emeritus Corporation

Total initial available term of asset pools

'30 years

'35 years

Principal amount of secured debt

139,679,000

52,000,000

Term of loan

'4 years

Interest rate on debt, initially (as a percent)

6.10%

Interest rate on debt after four year term (as a percent)

6.80%

Unaudited pro forma consolidated results of operations

Revenues

1,966,303,000

1,798,018,000

Net income

870,802,000

584,361,000

Net income applicable to HCP, Inc.

$856,500,000

$568,758,000

Basic earnings per common share (in dollars per share)

$1.88

$1.30

Diluted earnings per common share (in dollars per share)

$1.88

$1.29

Other_Real_Estate_Property_Inv3

Other Real Estate Property Investments (Details 2) (USD $)	12 Months Ended		12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
			Senior housing	Senior housing	Post-acute/skilled	Life science	Medical office	Hospital	Senior housing, life science and medical office	Senior housing, life science and medical office
					acre
Acquisition	'	'	'	'	'	'	'	'	'	'
Acquisition of facility	'	'	$18,000,000	'	$400,000	'	'	'	'	'
Price paid upon exercise of purchase option	'	'	16,000,000	'	'	'	'	'	'	'
Land acquired (in acres)	'	'	'	'	38	'	'	'	'	'
Other real estate acquisitions	'	'	'	'	'	'	'	'	'	'
Consideration, Cash Paid	186,478,000	'	'	3,860,000	'	7,964,000	171,654,000	3,000,000	'	'
Consideration, Debt and Other Liabilities Assumed	60,597,000	'	'	'	'	'	60,597,000	'	'	'
Consideration, Noncontrolling Interest	42,734,000	1,500,000	'	'	'	86,000	42,648,000	'	'	'
Assets Acquired, Real Estate	221,682,000	'	'	3,541,000	'	7,580,000	207,561,000	3,000,000	'	'
Assets Acquired, Net Intangibles	68,127,000	'	'	319,000	'	470,000	67,338,000	'	'	'
Payments to acquire productive assets	'	'	'	'	'	'	'	'	$173,000,000	$183,000,000

Dispositions_of_Real_Estate_an2

Dispositions of Real Estate and Discontinued Operations (Details) (USD $)

12 Months Ended

1 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

item

Medical office

Hospital

Senior housing

Post-acute/skilled nursing

Parcel of land in the life science segment

Post-acute/skilled nursing and senior housing

Senior housing and hospital and medical office

item

Dispositions of Real Estate and Land

Number of properties disposed

Total consideration for disposition of real estate

$6,000,000

$7,000,000

$22,000,000

$111,000,000

$68,000,000

$15,000,000

$18,000,000

Number of beds sold

Number of beds acquired

Number of properties held for sale

Carrying value of properties classified as held for sale

9,819,000

56,659,000

10,000,000

56,000,000

Gain on sales of real estate, net of income taxes

69,866,000

31,454,000

3,107,000

8,000,000

Operating income from discontinued operations

Rental and related revenues

16,649,000

33,777,000

32,555,000

Depreciation and amortization expenses

5,862,000

12,808,000

11,340,000

Operating expenses

3,929,000

3,304,000

1,472,000

Other expense, net

979,000

3,467,000

4,486,000

Income before impairments and gain on sales of real estate, net of income taxes

5,879,000

14,198,000

15,257,000

Impairments

$1,372,000

Number of properties included in discontinued operations

Net_Investment_in_Direct_Finan2

Net Investment in Direct Financing Leases (Details) (USD $)

12 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Nov. 21, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Apr. 02, 2013

Apr. 07, 2011

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

item

Tenet Healthcare Corporation

DFL Portfolio

HCR ManorCare

item

Minimum

Maximum

item

Minimum

Maximum

Acquisition

Minimum lease payments receivable

$24,808,386,000

$25,217,520,000

$23,500,000,000

$24,000,000,000

Rent receivable from triple-net lease with HCR ManorCare

506,000,000

489,000,000

Rate of increase in minimum lease revenue per year over each of the next 3 years (as a percent)

3.50%

Remaining specified period of the initial lease term during which the minimum lease revenue increases by a specified percentage per year

'3 years

Rate of increase in minimum lease revenue per year for remaining years of lease term (as a percent)

3.00%

Number of asset pools

Rate of increase in rent receivable for first year of extension option (as a percent)

3.00%

Total initial available term of asset pools

'23 years

'35 years

Number of individual leases

Real estate lease term

'3 years

'8 years

Estimated residual values

4,134,405,000

4,010,514,000

Less unearned income

-21,789,392,000

-22,346,641,000

Net investment in direct financing leases

7,153,399,000

6,881,393,000

376,000,000

Properties subject to direct financing leases

364

361

DFL income

636,881,000

622,073,000

464,704,000

24,400,000

27,800,000

27,500,000

Cash proceeds from DFL portfolio

24,000,000

23,800,000

21,900,000

Number of post-acute, skilled nursing and assisted living facilities acquired

334

Capital leases future minimum payments receivable

2014

594,270,000

2015

606,618,000

2016

626,713,000

2017

638,775,000

2018

656,263,000

Thereafter

21,685,747,000

Total

$24,808,386,000

Loans_Receivable_Details

Loans Receivable (Details)

12 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

1 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Sep. 06, 2013

Aug. 23, 2013

2-May-13

Sep. 30, 2013

Dec. 31, 2013

Jul. 31, 2012

Jun. 30, 2013

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Apr. 30, 2011

Dec. 31, 2007

Jan. 31, 2011

Aug. 31, 2009

Apr. 30, 2011

Sep. 30, 2010

Oct. 31, 2010

USD ($)

Real Estate Secured

Other Secured

Barchester Loan

Tandem Health Care Loan

Tandem Health Care Loan - First Tranche

Tandem Health Care Loan - Second Tranche

Delphis

HCR ManorCare

HCR ManorCare, mezzanine loan

HCR ManorCare, participation in first mortgage debt

Genesis HealthCare Loans

Genesis Senior Loans

Genesis Mezzanine participation loan

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

Maximum

USD ($)

Maximum

USD ($)

Minimum

Maximum

USD ($)

item

USD ($)

item

Loans receivable:

Mezzanine

$234,455,000

$145,150,000

$234,455,000

$145,150,000

Loan receivable, other

147,669,000

147,264,000

147,669,000

147,264,000

205,000,000

100,000,000

102,000,000

91,000,000

Unamortized discounts, fees and costs

-2,713,000

-2,974,000

-2,713,000

-2,974,000

Allowance for loan losses

-13,410,000

-13,000,000

Loans receivable, net

366,001,000

276,030,000

147,669,000

147,264,000

218,332,000

128,766,000

Loans receivable purchased, face or par value

14,000,000

9,000,000

188,000,000

121,000,000

360,000,000

720,000,000

278,000,000

50,000,000

Loans receivable purchased, discount

8,000,000

5,000,000

170,000,000

109,000,000

100,000,000

130,000,000

28,000,000

10,000,000

Number of facilities

160

Debt instrument, variable rate basis

'London Interbank Offered Rate ("LIBOR")

'LIBOR

Debt instrument, weighted-average basis spread on variable rate (as a percent)

3.14%

4.00%

1.25%

4.75%

5.75%

7.50%

Loan receivable subordinated to senior mortgage debt

443,000,000

400,000,000

Loan receivable subordinated to other senior mezzanine debt

137,000,000

Loan receivable, interest rate payable (as a percent)

12.00%

14.00%

Loan receivable term

'63 months

Number of partnerships that lease a property owned by the Company

Distribution of fund to guarantor

1,500,000

Cash payment received

4,800,000

Legal expenses

500,000

Other consideration received

2,100,000

Proceeds from guarantor

6,900,000

Cash payments received from borrower

202,000,000

129,000,000

202,000,000

129,000,000

12,600,000

43,000,000

2,100,000

330,400,000

Loans receivable, net reported amount

18,100,000

30,700,000

76,000,000

Proceeds from sale of collateral asset

38,100,000

Number of collateral primary assets sold

Additional interest income as a result of extinguishment of loans

86,159,000

24,536,000

99,864,000

24,000,000

23,000,000

34,800,000

Loan receivable purchased, acquisition cost

900,000,000

Amount of loans settled

2,000,000,000

Debt instrument, variable rate floor (as a percent)

1.50%

2.50%

Termination fee

$2,300,000

Loans_Receivable_Details_2

Loans Receivable (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013
	item
Mortgage Loans on Real Estate	'
Number of loans receivable	8
Principal Amount	$139,679,000
Carrying Amount	147,669,000
Future contractual principal payments to be received or receivable in 2016	101,000,000
Future contractual principal payments to be received or receivable in 2017	33,000,000
Future contractual principal payments to be received or receivable in 2018	6,000,000
Monthly interest-only payments, Tennessee, Maryland, Pennsylvania and Texas, due in 2016	'
Mortgage Loans on Real Estate	'
Number of loans receivable	4
Monthly interest-only payment	500,000
Fixed interest rate (as a percent)	8.50%
Principal Amount	70,615,000
Number of collateral facilities	4
Carrying Amount	77,094,000
Monthly interest-only payments, Arizona, Minnesota and Texas, due in 2016	'
Mortgage Loans on Real Estate	'
Number of loans receivable	1
Monthly interest-only payment	200,000
Fixed interest rate (as a percent)	6.40%
Principal Amount	30,220,000
Number of collateral facilities	5
Carrying Amount	30,220,000
Monthly interest-only payments, New Jersey and Pennsylvania, 2017	'
Mortgage Loans on Real Estate	'
Number of loans receivable	2
Monthly interest-only payment	200,000
Fixed interest rate (as a percent)	8.25%
Principal Amount	33,045,000
Number of collateral facilities	2
Carrying Amount	34,395,000
Monthly interest-only payments, Pennsylvania, 2018	'
Mortgage Loans on Real Estate	'
Number of loans receivable	1
Monthly interest-only payment	37,000
Fixed interest rate (as a percent)	8.00%
Principal Amount	5,799,000
Carrying Amount	5,960,000
Monthly interest-only payments, Tennessee, Maryland, Pennsylvania and Texas, due in 2016; monthly interest-only payments, New Jersey and Pennsylvania, 2017 and monthly interest-only payments, Pennsylvania, 2018	'
Mortgage Loans on Real Estate	'
Commitments to fund seven senior housing development projects	$141,000,000
Number of senior housing development projects	7

Investments_in_and_Advances_to2

Investments in and Advances to Unconsolidated Joint Ventures (Details) (USD $)	12 Months Ended		0 Months Ended	1 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Jan. 14, 2011	Jan. 31, 2011
			HCP Ventures II	HCP Ventures II
			item
Acquisition	'	'	'	'
Percentage of interest acquired	'	'	65.00%	'
Number of senior housing facilities	'	'	25	'
Investment ownership percentage	'	'	35.00%	'
Calculation of the HCP Ventures II purchase consideration and total purchase price	'	'	'	'
Consideration, Cash Paid	$186,478	'	$135,550	'
Fair value of HCP's 35% interest in HCP Ventures II (carrying value of $65,223 at closing)	'	'	72,992	'
Investments in and advances to unconsolidated joint ventures	'	'	65,223	'
Total purchase consideration	'	'	208,542	'
Estimated fees and costs	'	'	'	'
Legal, accounting and other fees and costs	'	'	150	'
Debt assumption fees	'	'	500	'
Total estimated fees and costs	'	'	650	'
Gain on consolidation of joint venture	'	7,769	'	8,000
Assets acquired	'	'	'	'
Buildings and improvements	'	'	683,633	'
Land	221,682	'	79,580	'
Cash	'	'	2,585	'
Restricted cash	'	'	1,861	'
Intangible assets	'	'	78,293	'
Total assets acquired	'	'	845,952	'
Liabilities assumed	'	'	'	'
Mortgage debt	'	635,182	635,182	'
Other liabilities	'	'	2,228	'
Total liabilities assumed	60,597	'	637,410	'
Net assets acquired	'	'	$208,542	'

Investments_in_and_Advances_to3

Investments in and Advances to Unconsolidated Joint Ventures (Details 2) (USD $)	0 Months Ended	12 Months Ended
	Apr. 07, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	$196,576,000	$212,213,000	'
Investment reported in liabilities	'	-1,011,000	'	'
Impairment related to goodwill	'	0	'	'
Tax expense	'	5,815,000	-1,654,000	1,301,000
Impairments of investments in unconsolidated joint ventures	'	0	'	'
Summarized combined financial information for unconsolidated joint ventures:	'	'	'	'
Real estate, net	'	3,662,450,000	3,731,740,000	'
Goodwill and other assets, net	'	5,384,553,000	5,734,318,000	'
Total assets	'	9,047,003,000	9,466,058,000	'
Capital lease obligations and mortgage debt	'	6,768,815,000	6,875,932,000	'
Accounts payable	'	1,045,260,000	971,095,000	'
Other partners' capital	'	1,098,228,000	1,435,885,000	'
HCP's capital	'	134,700,000	183,146,000	'
Total liabilities and partners' capital	'	9,047,003,000	9,466,058,000	'
Combined basis difference	'	60,000,000	'	'
Total revenues	'	4,269,156,000	4,260,319,000	4,388,376,000
Net loss	'	-362,379,000	-15,865,000	-827,306,000
HCP's share in earnings	'	64,433,000	54,455,000	46,750,000
Fees earned by HCP	'	1,847,000	1,895,000	2,073,000
Distributions received by HCP	'	18,091,000	6,299,000	5,681,000
HCR ManorCare \| Post-acute/skilled	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	84,099,000	'	'
Investment ownership percentage	9.90%	9.50%	'	'
Payment to acquire equity method investment	95,000,000	'	'	'
Impairment related to goodwill	'	'	'	865,000,000
Tax expense	'	400,000,000	'	'
Recharacterized DFL income to equity income	'	62,100,000	59,400,000	42,200,000
HCP Ventures III, LLC \| Medical office	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	7,147,000	'	'
Investment ownership percentage	'	30.00%	'	'
HCP Ventures IV, LLC \| Hospital and medical office segments	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	29,715,000	'	'
Investment ownership percentage	'	20.00%	'	'
HCP Life Science \| Life science	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	68,843,000	'	'
Number of unconsolidated joint ventures	'	3	'	'
HCP Life Science \| Life science \| Minimum	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment ownership percentage	'	50.00%	'	'
HCP Life Science \| Life science \| Maximum	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment ownership percentage	'	63.00%	'	'
Torrey Pines Science Center, LP \| Life science	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment ownership percentage	'	50.00%	'	'
Britannia Biotech Gateway, LP \| Life science	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment ownership percentage	'	55.00%	'	'
LASDK, LP \| Life science	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment ownership percentage	'	63.00%	'	'
Suburban Properties, LLC \| Medical office	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	6,403,000	'	'
Investment ownership percentage	'	67.00%	'	'
Advances to unconsolidated joint ventures, net	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	369,000	'	'
Edgewood Assisted Living Center, LLC \| Senior housing	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment reported in liabilities	'	-386,000	'	'
Investment ownership percentage	'	45.00%	'	'
Seminole Shores Living Center, LLC \| Senior housing	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investment reported in liabilities	'	-625,000	'	'
Investment ownership percentage	'	50.00%	'	'
Senior housing partnership \| Senior housing	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'
Investments in and advances to unconsolidated joint ventures	'	$0	'	'
Investment ownership percentage	'	72.00%	'	'

Intangibles_Details

Intangibles (Details) (USD $)	12 Months Ended
Intangibles (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Intangible assets and liabilities	'	'	'
Gross intangible lease assets	$781,437,000	$792,399,000	'
Accumulated depreciation and amortization	-291,595,000	-240,662,000	'
Gross intangible lease liabilities	207,355,000	194,625,000	'
Accumulated depreciation and amortization	-108,545,000	-90,445,000	'
Net intangible lease liabilities	98,810,000	104,180,000	'
Remaining weighted-average amortization period of intangible assets	'15 years	'15 years	'
Approximate remaining weighted-average amortization period of unfavorable market lease intangibles	'9 years	'9 years	'
Additional revenues from the amortization of net below market lease intangibles included in rental income	9,000,000	4,000,000	6,000,000
Additional expense from the amortization of net above market ground lease intangibles included in operating expenses	800,000	700,000	600,000
Additional expense from the amortization of lease-up and non-compete agreement intangibles included in depreciation and amortization expense	59,000,000	44,000,000	45,000,000
Estimated aggregate amortization of Intangible Assets	'	'	'
Estimated aggregate amortization of intangible assets, 2014	69,556,000	'	'
Estimated aggregate amortization of intangible assets, 2015	65,639,000	'	'
Estimated aggregate amortization of intangible assets, 2016	61,395,000	'	'
Estimated aggregate amortization of intangible assets, 2017	53,847,000	'	'
Estimated aggregate amortization of intangible assets, 2018	41,791,000	'	'
Estimated aggregate amortization of intangible assets, thereafter	197,614,000	'	'
Net intangible assets	489,842,000	551,737,000	'
Estimate aggregate amortization of Intangible Liabilities	'	'	'
Estimated aggregate amortization of intangible liabilities, 2014	16,728,000	'	'
Estimated aggregate amortization of intangible liabilities, 2015	16,171,000	'	'
Estimated aggregate amortization of intangible liabilities, 2016	15,643,000	'	'
Estimated aggregate amortization of intangible liabilities, 2017	13,674,000	'	'
Estimated aggregate amortization of intangible liabilities, 2018	11,290,000	'	'
Estimated aggregate amortization of intangible liabilities, thereafter	25,304,000	'	'
Net intangible lease liabilities	98,810,000	104,180,000	'
Previously reported	'	'	'
Intangible assets and liabilities	'	'	'
Remaining weighted-average amortization period of intangible assets	'	'12 years	'
Approximate remaining weighted-average amortization period of unfavorable market lease intangibles	'	'8 years	'
Below market	'	'	'
Intangible assets and liabilities	'	'	'
Below market leases, Gross intangible lease liabilities	201,234,000	188,534,000	'
Lease-up intangibles	'	'	'
Intangible assets and liabilities	'	'	'
Gross intangible lease assets	578,143,000	580,319,000	'
Tenant leases \| Above market	'	'	'
Intangible assets and liabilities	'	'	'
Gross intangible lease assets	144,355,000	153,141,000	'
Ground leases \| Above market	'	'	'
Intangible assets and liabilities	'	'	'
Above market ground lease, Gross intangible lease liabilities	6,121,000	6,091,000	'
Ground leases \| Below market	'	'	'
Intangible assets and liabilities	'	'	'
Gross intangible lease assets	$58,939,000	$58,939,000	'

Other_Assets_Details

Other Assets (Details)	1 Months Ended	12 Months Ended					0 Months Ended
	Jun. 30, 2011	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 28, 2012	Jun. 28, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	USD ($)	USD ($)	USD ($)	Delphis	Delphis	Four Seasons	Four Seasons	Four Seasons	HCP Ventures IV, LLC	HCP Ventures IV, LLC
					USD ($)	USD ($)	USD ($)	GBP (£)	GBP (£)	USD ($)	USD ($)
Other Assets.	'	'	'	'	'	'	'	'	'	'	'
Straight-line rent assets, net of allowance of $34,230 and $33,521, respectively	'	$368,919,000	'	$306,294,000	'	'	'	'	'	'	'
Allowance on straight-line rent assets	'	34,230,000	'	33,521,000	'	'	'	'	'	'	'
Marketable debt securities	'	244,089,000	'	222,809,000	'	'	'	'	'	'	'
Leasing costs, net	'	104,601,000	'	93,763,000	'	'	'	'	'	'	'
Deferred financing costs, net	'	42,106,000	'	45,490,000	'	'	'	'	'	'	'
Goodwill	'	50,346,000	'	50,346,000	'	'	'	'	'	'	'
Marketable equity securities	'	'	'	24,829,000	'	'	'	'	'	'	'
Other	'	57,644,000	'	44,989,000	'	'	'	'	'	'	'
Total other assets	'	867,705,000	'	788,520,000	'	'	'	'	'	'	'
Purchase of equity marketable securities	22,000,000	'	'	'	'	'	'	'	'	'	'
Other-than-temporary impairment on securities	'	'	5,000,000	'	'	'	'	'	'	'	'
Cost basis of marketable equity securities	'	'	'	17,000,000	'	'	'	'	'	'	'
Other assets	'	'	'	'	'	'	'	'	'	'	'
Net carrying value of interest accrued related to the Delphis loan	'	'	'	'	0	0	'	'	'	'	'
Reserve related to accrued interest receivable	'	'	'	'	5,400,000	5,400,000	'	'	'	'	'
Loans receivables	'	366,001,000	'	276,030,000	'	'	'	'	'	10,000,000	10,000,000
Loan receivable, interest rate payable (as a percent)	'	'	'	'	'	'	12.25%	12.25%	'	12.00%	12.00%
Percentage of counter party's partnership interest in the joint venture, by which loans receivable from unconsolidated joint venture are secured	'	'	'	'	'	'	'	'	'	80.00%	'
Realized gains on marketable debt securities sold	'	11,000,000	'	'	'	'	'	'	'	'	'
Marketable debt security, par value	'	'	'	'	'	'	'	138,500,000	'	'	'
Marketable debt security, par value, discounted	'	'	'	'	'	'	$214,900,000	£ 136,800,000	£ 137,000,000	'	'
Yield to maturity (as a percent)	'	'	'	'	'	'	12.50%	12.50%	'	'	'

Debt_Details

Debt (Details)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Jul. 30, 2012

Dec. 31, 2013

Jul. 30, 2012

Dec. 31, 2013

Nov. 12, 2013

Nov. 19, 2012

Jul. 23, 2012

Jan. 23, 2012

Dec. 16, 2013

Feb. 28, 2013

Jun. 25, 2012

Dec. 31, 2013

USD ($)

Line of Credit and Term Loan

Bank Line of Credit

2012 Term Loan

Senior Unsecured Notes

Senior Unsecured, 4.25% notes due 2023

Senior Unsecured, 2.625% notes due 2020

Senior Unsecured, 3.15% notes due 2022

Senior Unsecured, 3.75% notes due 2019

Senior unsecured notes, 5.65%

Senior Unsecured, 5.625%

Senior Unsecured, 6.45% notes due 2012

Mortgage Debt

Other Debt

USD ($)

GBP (£)

USD ($)

Interest-rate swap contracts

USD ($)

Minimum

Maximum

Debt maturing in 2014

Debt maturing in 2015

Debt maturing in 2016

Debt maturing in 2017

Debt maturing in 2018

Debt instrument maturing in 2019

Debt instrument maturing in 2020

Debt instrument maturing in 2021

Debt instrument maturing in 2022

Debt instrument maturing in 2023

Debt instrument maturing in 2041

USD ($)

Minimum

Maximum

Debt maturing in 2014

Debt maturing in 2015

Debt maturing in 2016

Debt maturing in 2017

Debt maturing in 2018

Thereafter

USD ($)

item

USD ($)

item

Debt Instrument

Line of credit facility, maximum borrowing capacity

$1,500,000,000

Length of debt instrument extension period

'1 year

Debt instrument, variable rate basis

'LIBOR

'GBP LIBOR

Debt instrument, basis spread on variable rate (as a percent)

1.08%

1.20%

Debt instrument, facility fee (as a percent)

0.18%

Line of credit facility additional aggregate amount, maximum

500,000,000

Line of credit facility, amount outstanding

Debt instrument, covenant debt to assets (as a percent)

60.00%

Debt instrument, covenant secured debt to assets (as a percent)

30.00%

Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)

60.00%

Debt instrument, covenant minimum fixed charge coverage ratio

1.5

Debt instrument, covenant net worth

9,200,000,000

Debt instrument, effective interest rate (as a percent)

4.31%

2.67%

3.28%

3.83%

Weighted-average interest rate (as a percent)

4.97%

3.21%

6.57%

5.10%

6.03%

6.83%

3.96%

2.79%

5.60%

3.39%

4.41%

6.88%

6.19%

5.80%

5.96%

6.89%

6.20%

5.90%

5.09%

Weighted-average maturity

'6 years

'3 years

Issuance of senior unsecured notes

800,000,000

300,000,000

450,000,000

Debt issuance price as a percentage of principal amount

99.54%

99.73%

98.89%

99.52%

Net proceeds from issuance of senior unsecured notes

789,000,000

793,000,000

294,000,000

444,000,000

Repayment of senior unsecured notes

400,000,000

150,000,000

250,000,000

Stated interest rate (as a percent)

1.21%

6.98%

4.25%

2.63%

3.15%

3.75%

5.65%

5.63%

6.45%

0.69%

8.69%

2014

666,525,000

487,000,000

179,525,000

2015

708,421,000

400,000,000

308,421,000

2016

1,418,596,000

226,858,000

900,000,000

291,738,000

2017

1,300,477,000

750,000,000

550,477,000

2018

606,583,000

600,000,000

6,583,000

Thereafter

3,915,242,000

3,850,000,000

65,242,000

Debt instrument principal outstanding, total

8,615,844,000

226,858,000

6,987,000,000

487,000,000

400,000,000

900,000,000

750,000,000

600,000,000

450,000,000

800,000,000

1,200,000,000

300,000,000

800,000,000

300,000,000

1,401,986,000

179,525,000

308,421,000

291,738,000

550,477,000

6,583,000

65,242,000

Discounts, net

-29,126,000

-23,625,000

-5,501,000

Debt instruments, carrying amount

8,586,718,000

137,000,000

226,858,000

6,963,375,000

1,396,485,000

Number of healthcare facilities used to secure debt

126

Debt instrument, collateral, healthcare facilities carrying value

1,800,000,000

Maturity period of debt instruments

'4 years

Term of the interest rate swap agreement

'4 years

Debt instrument, fixed interest rate (as a percent)

1.81%

Portion of other debt and occupancy fee deposits excluded from schedule of debt maturities

$74,909,000

$81,958,000

$75,000,000

Number of CCRC issuing non-interest life care bonds

Non-interest bearing occupancy fee deposits

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (Ventas Inc, USD $)	0 Months Ended				3 Months Ended
In Millions, unless otherwise specified	Nov. 09, 2011	Aug. 23, 2011	Sep. 04, 2009	3-May-07	Sep. 30, 2009
Ventas Inc	'	'	'	'	'
Legal Proceedings	'	'	'	'	'
Damages sought in Ventas litigation	'	'	'	$300	'
Verdict returned in favor of Ventas, compensatory damages	'	'	102	'	'
Provision for litigation expense	'	'	'	'	102
Payment of litigation expenses	$125	$102	'	'	'

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2)	12 Months Ended
Commitments and Contingencies (Details 2)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Total Assets \| California	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	23.00%	21.00%	'
Total Assets \| Operators \| Emeritus Corporation	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	14.00%	14.00%	'
Total Assets \| Operators \| Sunrise Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	7.00%	7.00%	'
Total Assets \| Operators \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	32.00%	31.00%	'
Total Assets \| Operators \| Brookdale Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	4.00%	4.00%	'
Total Assets \| Operators \| Senior housing \| Emeritus Corporation	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	37.00%	37.00%	'
Total Assets \| Operators \| Senior housing \| Sunrise Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	17.00%	18.00%	'
Total Assets \| Operators \| Senior housing \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	11.00%	11.00%	'
Total Assets \| Operators \| Senior housing \| Brookdale Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	11.00%	11.00%	'
Total Assets \| Operators \| Post-acute/skilled \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	89.00%	90.00%	'
Revenue \| California	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	21.00%	'	'
Revenue \| Texas	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	11.00%	'	'
Revenue \| Florida	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	9.00%	'	'
Revenue \| Operators \| Emeritus Corporation	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	13.00%	8.00%	7.00%
Percentage of operator revenue to total entity revenue after inclusion of revenue under RIDEA structure	12.00%	'	'
Revenue \| Operators \| Sunrise Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	5.00%	5.00%	6.00%
Revenue \| Operators \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	28.00%	30.00%	28.00%
Revenue \| Operators \| Brookdale Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	4.00%	5.00%	7.00%
Revenue \| Operators \| Senior housing \| Emeritus Corporation	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	35.00%	23.00%	24.00%
Percentage of operator revenue to segment revenue after inclusion of revenue under RIDEA structure	37.00%	'	'
Revenue \| Operators \| Senior housing \| Sunrise Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	13.00%	16.00%	19.00%
Revenue \| Operators \| Senior housing \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	10.00%	11.00%	10.00%
Revenue \| Operators \| Senior housing \| Brookdale Senior Living	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	12.00%	14.00%	22.00%
Revenue \| Operators \| Post-acute/skilled \| HCR ManorCare	'	'	'
Concentration of Credit Risk	'	'	'
Concentration risk (as a percent)	83.00%	91.00%	85.00%

Commitments_and_Contingencies_3

Commitments and Contingencies (Details 3) (USD $)	Dec. 31, 2013	Jun. 30, 2011	Sep. 02, 2011
In Millions, unless otherwise specified		Brookdale Senior Living	Brookdale Senior Living
			item
Commitments and contingencies	'	'	'
Number of senior housing communities	'	'	37
Number of senior housing communities assumed in existing triple-net lease	'	'	9
Number of senior housing communities in new triple-net lease	'	'	4
Number of senior housing communities assumed formerly managed by Horizon Bay	'	'	3
Number of senior housing communities developed by HCP	'	'	1
Interest in real estate and operations of senior living communities (as a percent)	'	'	10.00%
Number of senior living communities operated in a RIDEA structure	'	'	21
Purchase of equity marketable securities (in shares)	'	1	'
Credit Enhancement Guarantee	'	'	'
Third party debt collateralized by facilities, debt amount (maturing in May 1, 2025)	$112	'	'
Third party debt collateralized by facilities, asset carrying amount (maturing in May 1, 2025)	$374	'	'

Commitments_and_Contingencies_4

Commitments and Contingencies (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	item	Dec. 31, 2012	Dec. 31, 2011
Leases with purchase options, annualized base rent receivables in next five years and thereafter	'	'	'
Leases with purchase option, annualized base rent receivables in 2014	$21,541,000	'	'
Leases with purchase option, annualized base rent receivables in 2015	55,397,000	'	'
Leases with purchase option, annualized base rent receivables in 2016	40,098,000	'	'
Leases with purchase option, annualized base rent receivables in 2017	6,969,000	'	'
Leases with purchase option, annualized base rent receivables in 2018	19,204,000	'	'
Leases with purchase option, annualized base rent receivables thereafter	102,367,000	'	'
Total leases with purchase option, annualized base rent receivables	245,576,000	'	'
Number of properties with purchase options, annualized base rent receivables	'	'	'
Number of properties with a purchase option, annualized base rent receivables in 2014	11	'	'
Number of properties with a purchase option, annualized base rent receivables in 2015	35	'	'
Number of properties with a purchase option, annualized base rent receivables in 2016	18	'	'
Number of properties with a purchase option, annualized base rent receivables in 2017	3	'	'
Number of properties with a purchase option, annualized base rent receivables in 2018	5	'	'
Number of properties with a purchase option, annualized base rent receivables thereafter	62	'	'
Total number of properties with a purchase option, annualized base rent receivables	134	'	'
Rental Expense	'	'	'
Rental expense attributable to continuing operations	8,000,000	7,000,000	6,000,000
Maximum remaining term of ground leases excluding extension options	'99 years	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases	'	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, 2014	6,303,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, 2015	5,781,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, 2016	4,620,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, 2017	3,880,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, 2018	3,659,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, Thereafter	195,883,000	'	'
Future minimum lease obligations under non-cancelable ground and other operating leases, Total	$220,126,000	'	'

Equity_Details

Equity (Details) (USD $)

0 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

Jan. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Oct. 31, 2012

Jun. 30, 2012

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Apr. 23, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Senior housing

Common Stock

Preferred Stock

Noncontrolling Interests

Blackstone JV

Series E cumulative redeemable preferred stock

Series F cumulative redeemable preferred stock

item

Equity

Dividends declared per common share (in dollars per share)

$0.55

$2.10

$1.92

Issuance of common stock, net

$107,018,000

$1,756,796,000

$1,302,008,000

$979,000,000

$376,000,000

$359,000,000

$1,273,000,000

$3,136,000

$42,468,000

$36,683,000

($3,683,000)

($25,029,000)

($3,456,000)

Number of senior housing communities

129

133

Stock issued under new issues (in dollars per share)

$41.88

$39.93

$36.90

Repayment of senior unsecured notes

250,000,000

Interest rate on repaid maturing debt (as a percent)

6.45%

Proceeds from issuance of common stock

1,235,000,000

Company's common stock issuances

Dividend Reinvestment and Stock Purchase Plan (in shares)

2,441,000

1,064,000

1,910,000

Conversion of DownREIT units (in shares)

100,000

736,000

80,000

6,000,000

Exercise of stock options (in shares)

876,000

2,455,000

876,000

2,455,000

1,157,000

Vesting of restricted stock units (in shares)

471,000

707,000

228,000

Shares redeemed

4,000,000

7,820,000

Dividend Rate (as a percent)

7.25%

7.10%

Preferred stock redemption value (in dollars per share)

$25

Aggregate redemption amount

295,500,000

Preferred stock issuance costs write-off

10,400,000

Issuance of common stock, net (in shares)

22,000,000

8,970,000

9,000,000

34,500,000

3,136,000

42,468,000

36,683,000

Noncontrolling interests

Non-managing members DownREIT units outstanding

4,000,000

Number of DownREIT LLCs

DownREIT unit, carrying value

184,105,000

187,788,000

184,000,000

DownREIT unit, fair value

217,000,000

Accumulated Other Comprehensive Loss

Unrealized gains on available for sale securities

7,776,000

Unrealized losses on cash flow hedges, net

-10,797,000

-18,452,000

Supplemental Executive Retirement Plan minimum liability

-2,910,000

-3,150,000

Cumulative foreign currency translation adjustment

-780,000

-827,000

Total accumulated other comprehensive loss

($14,487,000)

($14,653,000)

Segment_Disclosures_Details

Segment Disclosures (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	item	Dec. 31, 2012	Dec. 31, 2011
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Number of reportable segments	'	'	'	'	'	'	'	'	5	'	'
Rental Revenues	'	'	'	'	'	'	'	'	$1,865,584	$1,714,466	$1,543,390
Resident Fees and Services	'	'	'	'	'	'	'	'	146,288	139,073	49,091
Interest Income	'	'	'	'	'	'	'	'	86,159	24,536	99,864
Investment Management Fee Income	'	'	'	'	'	'	'	'	1,847	1,895	2,073
Total revenues	530,297	546,158	512,239	511,184	503,233	469,999	456,130	450,608	2,099,878	1,879,970	1,694,418
NOI	'	'	'	'	'	'	'	'	1,713,590	1,572,823	1,373,780
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	1,581,038	1,429,989	1,232,546
Senior housing	'	'	'	'	'	'	'	'	'	'	'
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Rental Revenues	'	'	'	'	'	'	'	'	602,506	481,559	469,251
Resident Fees and Services	'	'	'	'	'	'	'	'	146,288	139,073	49,091
Interest Income	'	'	'	'	'	'	'	'	11,621	3,503	178
Investment Management Fee Income	'	'	'	'	'	'	'	'	'	'	70
Total revenues	'	'	'	'	'	'	'	'	760,415	624,135	518,590
NOI	'	'	'	'	'	'	'	'	653,191	529,209	484,970
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	594,492	478,671	432,047
Post-acute/skilled nursing	'	'	'	'	'	'	'	'	'	'	'
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Rental Revenues	'	'	'	'	'	'	'	'	541,805	530,037	388,633
Interest Income	'	'	'	'	'	'	'	'	73,595	19,993	98,450
Total revenues	'	'	'	'	'	'	'	'	615,400	550,030	487,083
NOI	'	'	'	'	'	'	'	'	539,320	529,562	388,214
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	467,508	453,456	331,134
Life science	'	'	'	'	'	'	'	'	'	'	'
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Rental Revenues	'	'	'	'	'	'	'	'	296,879	289,664	288,151
Investment Management Fee Income	'	'	'	'	'	'	'	'	4	4	4
Total revenues	'	'	'	'	'	'	'	'	296,883	289,668	288,155
NOI	'	'	'	'	'	'	'	'	239,923	236,491	235,355
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	228,475	226,997	212,250
Medical office	'	'	'	'	'	'	'	'	'	'	'
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Rental Revenues	'	'	'	'	'	'	'	'	352,334	333,008	318,368
Investment Management Fee Income	'	'	'	'	'	'	'	'	1,843	1,891	1,999
Total revenues	'	'	'	'	'	'	'	'	354,177	334,899	320,367
NOI	'	'	'	'	'	'	'	'	212,958	200,876	190,584
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	210,811	195,761	184,408
Hospital	'	'	'	'	'	'	'	'	'	'	'
Segment reporting information, revenues	'	'	'	'	'	'	'	'	'	'	'
Rental Revenues	'	'	'	'	'	'	'	'	72,060	80,198	78,987
Interest Income	'	'	'	'	'	'	'	'	943	1,040	1,236
Total revenues	'	'	'	'	'	'	'	'	73,003	81,238	80,223
NOI	'	'	'	'	'	'	'	'	68,198	76,685	74,657
Adjusted NOI (Cash NOI)	'	'	'	'	'	'	'	'	$79,752	$75,104	$72,707

Segment_Disclosures_Details_2

Segment Disclosures (Details 2) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation from reported net income to NOI and adjusted NOI	'	'	'	'	'	'	'	'	'	'	'
Net income	$297,639	$236,858	$216,725	$233,784	$246,260	$199,043	$204,975	$196,564	$985,006	$846,842	$554,494
Interest income	'	'	'	'	'	'	'	'	-86,159	-24,536	-99,864
Investment management fee income	'	'	'	'	'	'	'	'	-1,847	-1,895	-2,073
Interest expense	'	'	'	'	'	'	'	'	435,252	416,172	415,455
Depreciation and amortization	'	'	'	'	'	'	'	'	423,312	353,704	346,055
General and administrative	'	'	'	'	'	'	'	'	109,233	79,395	96,059
Litigation provision	'	'	'	'	'	'	'	'	'	'	125,000
Impairments	'	'	'	'	'	'	'	'	'	7,878	15,400
Other income, net	'	'	'	'	'	'	'	'	-18,216	-2,976	-12,933
Income taxes	'	'	'	'	'	'	'	'	5,815	-1,654	1,301
Equity income from unconsolidated joint ventures	'	'	'	'	'	'	'	'	-64,433	-54,455	-46,750
Total discontinued operations	-59,489	-9,824	-2,828	-2,232	-33,909	-3,607	-2,456	-5,671	-74,373	-45,652	-18,364
NOI	'	'	'	'	'	'	'	'	1,713,590	1,572,823	1,373,780
Straight-line rents	'	'	'	'	'	'	'	'	-39,587	-47,311	-59,173
DFL accretion	'	'	'	'	'	'	'	'	-86,055	-94,240	-74,007
Amortization of above and below market lease intangibles, net	'	'	'	'	'	'	'	'	-6,646	-2,232	-4,510
Lease termination fees	'	'	'	'	'	'	'	'	-217	-636	-5,873
NOI adjustments related to discontinued operations	'	'	'	'	'	'	'	'	-47	1,585	2,329
Adjusted (Cash) NOI	'	'	'	'	'	'	'	'	$1,581,038	$1,429,989	$1,232,546

Segment_Disclosures_Details_3

Segment Disclosures (Details 3) (USD $)	12 Months Ended
Segment Disclosures (Details 3) (USD $)	Dec. 31, 2013		Dec. 31, 2012
Segment Disclosure	'		'
Assets held for sale, net	$9,819,000		$56,659,000
Total assets	20,075,870,000	[1]	19,915,555,000	[1]
Goodwill	50,346,000		50,346,000
Impairment related to goodwill	0		'
Operating segment	'		'
Segment Disclosure	'		'
Gross assets	21,381,636,000		20,956,283,000
Accumulated depreciation and amortization	-2,257,188,000		-1,933,311,000
Total assets	19,124,448,000		19,022,972,000
Operating segment \| Senior housing	'		'
Segment Disclosure	'		'
Gross assets	7,803,085,000		7,638,316,000
Goodwill	31,000,000		'
Operating segment \| Post-acute/skilled nursing	'		'
Segment Disclosure	'		'
Gross assets	6,266,938,000		6,039,575,000
Goodwill	3,000,000		'
Operating segment \| Life science	'		'
Segment Disclosure	'		'
Gross assets	3,986,187,000		3,932,397,000
Operating segment \| Medical office	'		'
Segment Disclosure	'		'
Gross assets	2,686,069,000		2,643,893,000
Goodwill	11,000,000		'
Operating segment \| Hospital	'		'
Segment Disclosure	'		'
Gross assets	639,357,000		702,102,000
Goodwill	5,000,000		'
Other non-segment	'		'
Segment Disclosure	'		'
Total assets	$941,603,000		$835,924,000

[1]	The Company's consolidated total assets at December 31, 2013 and 2012 include assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. At December 31, 2013: other assets, net, $1 million. At December 31, 2012: accounts receivable, net, $2 million; cash and cash equivalents, $10 million; and other assets, net, $2 million. See Note 21 for additional details.

Future_Minimum_Rents_Details

Future Minimum Rents (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Future minimum lease payments received	'
2014	$1,056,273
2015	1,028,424
2016	991,159
2017	929,408
2018	847,918
Thereafter	3,718,573
Total	$8,571,755

Compensation_Plans_Details

Compensation Plans (Details) (USD $)	12 Months Ended
Compensation Plans (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Apr. 23, 2009
Stock option activity	'	'	'	'
Exercised (in shares)	-876,000	-2,455,000	'	'
Stock Options	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'	'	'
Stock-based awards, vesting period	'10 years	'	'	'
Stock option activity	'	'	'	'
Outstanding at the beginning of the year (in shares)	3,127,000	'	'	'
Granted (in shares)	499,000	'	'	'
Exercised (in shares)	-1,300,000	'	'	'
Forfeited (in shares)	-104,000	'	'	'
Outstanding at the end of the period (in shares)	2,222,000	3,127,000	'	'
Exercisable (in shares)	1,281,000	'	'	'
Outstanding at the beginning of the year, Weighted Average Exercise Price (in dollars per share)	$31.16	'	'	'
Weighted Average Exercise Price Granted (in dollars per share)	$46.92	'	'	'
Weighted Average Exercise Price Exercised (in dollars per share)	$29.17	'	'	'
Weighted Average Exercise Price Forfeited (in dollars per share)	$33.29	'	'	'
Outstanding at the end of the period, Weighted Average Exercise Price (in dollars per share)	$35.77	$31.16	'	'
Exercisable, Weighted Average Exercise Price (in dollars per share)	$35.64	'	'	'
Outstanding at the beginning of the year, Weighted Average Remaining Contractual Term	'5 years	'6 years 10 months 24 days	'	'
Outstanding at the end of the period, Weighted Average Remaining Contractual Term	'5 years	'6 years 10 months 24 days	'	'
Exercisable, Weighted Average Remaining Contractual Term	'3 years 3 months 18 days	'	'	'
Outstanding at the beginning of the year, Aggregate Intrinsic Value	$43,774,000	'	'	'
Outstanding at the end of the period, Aggregate Intrinsic Value	8,870,000	43,774,000	'	'
Exercisable, Aggregate Intrinsic Value	4,924,000	'	'	'
Stock Options \| Minimum	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'	'	'
Stock-based awards, vesting period	'4 years	'	'	'
Stock Options \| Maximum	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'	'	'
Stock-based awards, vesting period	'5 years	'	'	'
2006 Incentive Plan	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'	'	'
Maximum number of shares reserved for awards (in shares)	'	'	'	23,200,000
Maximum number of shares available for future awards (in shares)	5,600,000	'	'	'
Maximum number of shares available for future awards to be issued as restricted stock and performance restricted stock unit	3,700,000	'	'	'
Total share-based compensation expense recognized	40,000,000	23,000,000	20,000,000	'
Total unrecognized compensation cost	$28,000,000	'	'	'
Total unrecognized compensation cost, period of recognition	'3 years	'	'	'

Compensation_Plans_Details_2

Compensation Plans (Details 2) (USD $)

12 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

In Millions, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Aug. 14, 2006

Dec. 31, 2013

Chairman and Chief Executive Officer

Stock Options

Restricted Stock and Performance Restricted Stock Units

Restricted stock

Restricted Stock Units

23.34 - 25.52

27.11 - 28.35

31.95 - 46.92

Minimum

Maximum

Chairman and Chief Executive Officer

Stock Options

Shares Authorized under Stock Option Plan Exercise Price Range

Exercise Price Range, Lower Range Limit (in dollars per share)

$23.34

$27.11

$31.95

Exercise Price Range, Upper Range Limit (in dollars per share)

$25.52

$28.35

$46.92

Shares under Options (in shares)

2,222,000

456,000

342,000

1,424,000

Weighted Average Exercise Price (in dollars per share)

$35.77

$23.34

$28.35

$41.53

Weighted Average Remaining Contractual Term

'5 years

'4 years 1 month 6 days

'4 years 9 months 18 days

'5 years 3 months 18 days

Currently Exercisable - Shares Under Options (in shares)

1,281,000

262,000

162,000

857,000

Currently Exercisable - Weighted Average Exercise Price (in dollars per share)

$35.64

$23.34

$28.35

$40.78

Share-based Compensation Arrangement by Share-based Payment Award, Options Unvested

Unvested at the beginning of the period (in shares)

2,588,000

Granted (in shares)

499,000

Vested (in shares)

-2,042,000

Forfeited (in shares)

-104,000

Unvested at the end of the period (in shares)

941,000

2,588,000

Unvested at the beginning of the period, weighted average grant date fair value (in dollars per share)

$4.30

Granted, weighted average grant date fair value (in dollars per share)

$5.89

$6.34

$5.97

Vested, weighted average grant date fair value (in dollars per share)

$4.30

Forfeited, weighted average grant date fair value (in dollars per share)

$4.75

Unvested at the end of the period, weighted average grant date fair value (in dollars per share)

$5.09

$4.30

Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information

Total vesting date intrinsic values (at vesting) of shares under options vested

$12

$18

$16

Total intrinsic value of vested shares under options at the end of the period

Proceeds received from options exercised

Total intrinsic value (at exercise) of options exercised

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology

Implied volatility traded option on common stock period

'30 days

Risk-free rate (as a percent)

0.78%

1.09%

2.58%

Expected life

'4 years 6 months

'5 years 10 months 24 days

'6 years 6 months

Expected volatility (as a percent)

28.90%

32.70%

31.80%

Expected dividend yield (as a percent)

5.80%

5.90%

6.10%

Restricted Stock and Performance Restricted Stock Units

Stock-based awards, vesting period

'3 years

'5 years

'10 years

Performance restricted stock unit is convertible into common stock (in shares)

Shares withheld to offset tax withholding obligations (in shares)

242,000

361,000

136,000

Weighted-average remaining vesting period of restricted stock and restricted stock units

'2 years

Total fair values (at vesting) of restricted stock and restricted stock units vested

Unvested restricted stock and performance restricted stock units activity

Unvested at the beginning of the period (in shares)

145,000

1,220,000

Granted (in shares)

144,000

502,000

219,000

Vested (in shares)

-43,000

-471,000

Forfeited (in shares)

-20,000

-43,000

Unvested at the end of the period (in shares)

226,000

1,208,000

Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share)

$27.24

$35.16

Granted, Weighted Average Grant Date Fair Value (in dollars per share)

$41.77

$45.96

Vested, Weighted Average Grant Date Fair Value (in dollars per share)

$31.65

$36.58

Forfeited, Weighted Average Grant Date Fair Value (in dollars per share)

$26.84

$41.79

Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share)

$35.70

$38.82

Termination

Severance-related charges

Accelerated deferred compensation on termination

Severance payments and other costs

Employee Benefit Plan

Matching contribution by Company, maximum percentage of participant's eligible compensation

4.00%

Matching contributions to Employee Benefit Plan

$0.80

Impairments_Details

Impairments (Details) (USD $)	12 Months Ended		12 Months Ended			12 Months Ended
	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012
			Delphis	Delphis	Delphis	Medical office	Medical office	Life science
						item
Impairments	'	'	'	'	'	'	'	'
Number of properties disposed	'	'	'	'	'	2	'	'
Total consideration for disposition of real estate	'	'	'	'	'	$6,000,000	$7,000,000	$18,000,000
Impairment charges	-7,878,000	'	'	'	'	1,000,000	'	7,900,000
Carrying value of aggregate investments	10,448,752,000	10,544,110,000	'	'	'	7,000,000	'	'
Carrying value, land	1,838,613,000	1,822,862,000	'	'	'	'	'	26,000,000
Provision for losses (impairment)	'	'	15,000,000	'	'	'	'	'
Loans receivable, before Impairment	147,264,000	147,669,000	91,000,000	'	'	'	'	'
Loans receivable, after Impairment	'	'	$76,000,000	$18,100,000	$30,700,000	'	'	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended			0 Months Ended	12 Months Ended		0 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Aug. 01, 2007	Dec. 31, 2013	Dec. 31, 2011	Apr. 07, 2011	Dec. 31, 2013	Dec. 31, 2011
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	SEUSA	SEUSA	SEUSA	HCR ManorCare	HCR ManorCare	HCR ManorCare
Income Taxes	'	'	'	'	'	'	'	'	'
Income tax expense (benefit), including discontinued operations	$5,900,000	($1,600,000)	$1,200,000	'	'	'	'	'	'
Anticipated decrease in unrecognized tax benefits over the next 12 months	900,000	'	'	'	'	'	'	'	'
Income tax disclosure	'	'	'	'	'	'	'	'	'
Amount that tax basis of net assets is less than reported amounts	7,700,000,000	7,600,000,000	'	'	'	'	'	'	'
Decrease in unrecognized tax benefits after receiving approval from the taxing authorities	'	'	'	'	'	6,900,000	'	'	'
Period during which disposition of pre-acquisition assets are subject to corporate level tax	'	'	'	'10 years	'	'	'10 years	'	'
Increase in unrecognized tax benefits assumed in connection with acquisitions	'	'	'	'	'	'	'	'	2,000,000
Decrease in unrecognized tax benefits due to lapse in the statute of limitations	'	'	'	'	'	'	'	900,000	'
Reconciliation of unrecognized tax benefits	'	'	'	'	'	'	'	'	'
Balance at the beginning of the year	'	'	'	'	1,977,000	6,890,000	'	'	'
Additions based on prior year's tax positions	'	'	'	'	'	1,783,000	'	'	'
Reductions based on prior years' tax positions	'	'	'	'	-890,000	-6,890,000	'	'	'
Additions based on current year's tax positions	'	'	'	'	'	194,000	'	'	'
Balance at the end of the year	900,000	'	'	8,000,000	1,087,000	1,977,000	2,000,000	'	'
Interest associated with unrecognized tax benefits	'	'	'	'	'	-1,100,000	'	'	'
Reversal of interest associated with unrecognized tax benefits	'	'	'	'	'	1,300,000	'	'	'
Net (decrease) increase in unrecognized tax benefits	'	'	($4,900,000)	'	'	'	'	'	$200,000

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Numerator	'	'	'	'	'	'	'	'	'	'	'
Income from continuing operations	'	'	'	'	'	'	'	'	$910,633	$801,190	$536,130
Noncontrolling interests' share in continuing operations	'	'	'	'	'	'	'	'	-14,110	-12,411	-15,484
Income from continuing operations applicable to HCP, Inc.	'	'	'	'	'	'	'	'	896,523	788,779	520,646
Preferred stock dividends	'	'	'	'	'	'	'	'	'	-17,006	-21,130
Participating securities' share in continuing operations	'	'	'	'	'	'	'	'	-1,734	-3,245	-2,459
Income from continuing operations applicable to common shares	'	'	'	'	'	'	'	'	894,789	768,528	497,057
Discontinued operations	59,489	9,824	2,828	2,232	33,909	3,607	2,456	5,671	74,373	45,652	18,364
Noncontrolling interests' share in discontinued operations	'	'	'	'	'	'	'	'	-59	-1,891	-119
Net income applicable to common shares	'	'	'	'	'	'	'	'	$969,103	$812,289	$515,302
Denominator	'	'	'	'	'	'	'	'	'	'	'
Basic weighted average common shares	'	'	'	'	'	'	'	'	455,002,000	427,047,000	398,446,000
Dilutive potential common shares	'	'	'	'	'	'	'	'	700,000	1,269,000	1,772,000
Diluted weighted average common shares	'	'	'	'	'	'	'	'	455,702,000	428,316,000	400,218,000
Basic earnings per common share	'	'	'	'	'	'	'	'	'	'	'
Income from continuing operations (in dollars per share)	'	'	'	'	'	'	'	'	$1.97	$1.80	$1.25
Discontinued operations (in dollars per share)	'	'	'	'	'	'	'	'	$0.16	$0.10	$0.04
Net income applicable to common shares (in dollars per share)	$0.64	$0.51	$0.47	$0.51	$0.54	$0.46	$0.48	$0.43	$2.13	$1.90	$1.29
Diluted earnings per common share	'	'	'	'	'	'	'	'	'	'	'
Income from continuing operations (in dollars per share)	'	'	'	'	'	'	'	'	$1.97	$1.80	$1.25
Discontinued operations (in dollars per share)	'	'	'	'	'	'	'	'	$0.16	$0.10	$0.04
Net income applicable to common shares (in dollars per share)	$0.64	$0.51	$0.47	$0.51	$0.53	$0.45	$0.48	$0.43	$2.13	$1.90	$1.29
Common stock options	'	'	'	'	'	'	'	'	'	'	'
Diluted earnings per common share	'	'	'	'	'	'	'	'	'	'	'
Shares of anti-dilutive securities excluded from earnings per share calculation	'	'	'	'	'	'	'	'	1,100,000	1,200,000	1,700,000
Down REIT	'	'	'	'	'	'	'	'	'	'	'
Diluted earnings per common share	'	'	'	'	'	'	'	'	'	'	'
Shares of anti-dilutive securities excluded from earnings per share calculation	'	'	'	'	'	'	'	'	6,000,000	6,000,000	6,000,000
DownREIT LLCs, non-managing member units outstanding	'	'	'	'	'	'	'	'	4,000,000	4,000,000	4,000,000

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Supplemental cash flow information:	'	'	'
Interest paid, net of capitalized interest	$412,011	$389,753	$348,455
Income taxes paid	114	1,790	1,710
Capitalized interest	13,494	23,360	26,402
Supplemental schedule of non-cash investing activities:	'	'	'
Accrued construction costs	15,187	14,157	11,525
Reclassification of the in-place leases from real estate to DFLs	123,891	'	'
Fair value of real estate acquired in exchange for sale of real estate	15,204	'	'
Settlement of loans receivable as consideration for the HCR ManorCare Acquisition	'	'	1,990,406
Supplemental schedule of non-cash financing activities:	'	'	'
Vesting of restricted stock units	471	707	228
Cancellation of restricted stock	20	8	35
Conversion of non-managing member units into common stock	3,583	24,988	3,456
Noncontrolling interests issued in connection with acquisitions	'	42,734	1,500
Mortgages included in the consolidation of HCP Ventures II	'	'	635,182
Mortgages and other liabilities assumed with real estate acquisitions	12,767	60,597	57,869
Unrealized gains (losses), net on available for sale securities and derivatives designated as cash flow hedges	$7,790	$4,649	($9,763)

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	12 Months Ended		12 Months Ended					1 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2011	Sep. 30, 2013
	Delphis	Unconsolidated Variable Interest Entities	VIE tenants-operating leases	VIE tenants-DFLs	Loan-senior secured	Loan-senior secured	Debt investment	Consolidated Variable Interest Entities	Consolidated Variable Interest Entities
	item	item				Delphis		item	item
						item
Company's involvement with VIEs:	'	'	'	'	'	'	'	'	'
Number of senior housing facilities leased	'	48	'	'	'	'	'	21	'
Number of partnerships, which are tenants of the company	1	'	'	'	'	1	'	'	'
Number of VIE tenants	'	7	'	'	'	'	'	'	'
Maximum Loss Exposure	'	'	$251,091	$1,081,415	$18,071	'	$17,071	'	'
Assets/liability type	'	'	'Lease intangibles, net and straight-line rent receivables	'Net investment in DFLs	'Loans receivable, net	'	'Marketable debt securities	'	'
Carrying amount	'	'	$14,300	$601,970	$18,071	'	$17,071	'	'
Percentage of partnership interest	'	'	'	'	'	'	'	90.00%	'
Number of tax credit subsidiaries	'	'	'	'	'	'	'	'	2

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair value on a recurring basis, USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Fair Value	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	($8,701)
Fair Value \| Interest-rate swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	2,325
Derivative liabilities	-8,384
Fair Value \| Currency swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative liabilities	-2,756
Fair Value \| Warrants	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	114
Level 2	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	-8,815
Level 2 \| Interest-rate swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	2,325
Derivative liabilities	-8,384
Level 2 \| Currency swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative liabilities	-2,756
Level 3	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	114
Level 3 \| Warrants	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	$114

Disclosures_About_Fair_Value_o2

Disclosures About Fair Value of Financial Instruments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Summary of financial instruments	'	'
Marketable equity securities	'	$24,829
Senior unsecured notes	6,963,375	6,712,624
Mortgage debt	1,396,485	1,665,210
Other debt	74,909	81,958
Carrying Value	'	'
Summary of financial instruments	'	'
Loans receivable, net	366,001	276,030
Marketable debt securities	244,089	222,809
Marketable equity securities	'	24,829
Term loan	226,858	222,694
Senior unsecured notes	6,963,375	6,712,624
Mortgage debt	1,396,485	1,676,544
Other debt	74,909	81,958
Carrying Value \| Warrants	'	'
Summary of financial instruments	'	'
Derivative assets	114	670
Carrying Value \| Interest-rate swap contracts	'	'
Summary of financial instruments	'	'
Derivative assets	2,325	89
Derivative liabilities	8,384	12,699
Carrying Value \| Currency swap contracts	'	'
Summary of financial instruments	'	'
Derivative liabilities	2,756	2,641
Fair Value \| Level 1	'	'
Summary of financial instruments	'	'
Marketable equity securities	'	24,829
Senior unsecured notes	7,405,817	7,432,012
Fair Value \| Level 2	'	'
Summary of financial instruments	'	'
Loans receivable, net	373,441	279,850
Term loan	226,858	222,694
Mortgage debt	1,421,214	1,771,155
Other debt	74,909	81,958
Fair Value \| Level 3	'	'
Summary of financial instruments	'	'
Marketable debt securities	280,850	234,137
Fair Value \| Warrants \| Level 3	'	'
Summary of financial instruments	'	'
Derivative assets	114	670
Fair Value \| Interest-rate swap contracts \| Level 2	'	'
Summary of financial instruments	'	'
Derivative assets	2,325	89
Derivative liabilities	8,384	12,699
Fair Value \| Currency swap contracts \| Level 2	'	'
Summary of financial instruments	'	'
Derivative liabilities	$2,756	$2,641

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details)

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

USD ($)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges

Interest rate swap, entered in July 2005, maturity in July 2020

Interest rate swap, entered in November 2008, maturity in October 2016

Interest rate swap, entered in July 2012, maturity in June 2016

Foreign currency swap, entered in July 2012, maturity in June 2016

Reclassification out of Accumulated Other Comprehensive Income

Cash flow hedge

USD ($)

GBP (£)

USD ($)

GBP (£)

item

Derivative

Fixed Rate/Buy Amount (as a percent)

3.82%

5.95%

1.81%

Floating/Exchange Rate Index

'BMA Swap Index

'1 Month LIBOR

'1 Month GBP LIBOR

Floating/Exchange Rate Index, percentage

1.50%

1.20%

Buy (sell) amount

$56,800,000

Notional amount

45,600,000

26,400,000

137,000,000

36,200,000

Semi-annual buy (sell) amount

11,000,000

-7,000,000

Fair value of hedge, liabilities

-5,681,000

-2,703,000

2,325,000

Fair value of hedge, liabilities

-2,756,000

Number of interest-rate swap contracts

Exchange rate USD/GBP

1.5695

Number of foreign exchange contracts

Fair value of hedge, assets

2,000,000

Gain (loss) on cash flow hedge, ineffective portion

Earned additional interest income resulting from cash flow hedges

100,000

Additional interest expense resulting from cash flow hedges

3,000,000

Gains or losses recorded to accumulated other comprehensive loss reclassified to earnings

297,639,000

236,858,000

216,725,000

233,784,000

246,260,000

199,043,000

204,975,000

196,564,000

985,006,000

846,842,000

554,494,000

Effects of Change in Interest Rates

+50 Basis Points

1,400,000

363,000

3,019,000

-657,000

-50 Basis Points

-1,381,000

-353,000

-2,490,000

-57,000

+100 Basis Points

2,791,000

722,000

5,774,000

-957,000

-100 Basis Points

($2,772,000)

($711,000)

($5,244,000)

$243,000

Transactions_with_Related_Part1

Transactions with Related Parties (Details) (Mr. Klaritch, an executive vice president, HCPI/Tennessee, LLC)	1 Months Ended	12 Months Ended
	Oct. 31, 2003	Dec. 31, 2012
Mr. Klaritch, an executive vice president \| HCPI/Tennessee, LLC	'	'
Related Party Transaction	'	'
Number of non-managing member DownREIT units received on distribution of rights	113,431	'
Number of common of DownREIT units in number of shares (in shares)	2	'
DownREIT units converted	'	45,000
Common shares issued for DownREIT units converted	'	90,000

Selected_Quarterly_Financial_D2

Selected Quarterly Financial Data (Unaudited) (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

In Thousands, except Per Share data, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Senior housing

Blackstone JV

Senior housing

item

Selected Quarterly Financial Data (Unaudited)

Total revenues

$530,297

$546,158

$512,239

$511,184

$503,233

$469,999

$456,130

$450,608

$2,099,878

$1,879,970

$1,694,418

$760,415

$624,135

$518,590

Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures

220,256

214,176

199,916

217,667

200,210

181,457

186,931

176,483

852,015

745,081

490,681

Total discontinued operations

59,489

9,824

2,828

2,232

33,909

3,607

2,456

5,671

74,373

45,652

18,364

Net income

297,639

236,858

216,725

233,784

246,260

199,043

204,975

196,564

985,006

846,842

554,494

Net income applicable to HCP, Inc.

$293,095

$233,756

$213,401

$230,585

$241,028

$196,108

$202,024

$193,380

$970,837

$832,540

$538,891

Dividends paid per common share (in dollars per share)

$0.53

$0.50

Basic earnings per common share (in dollars per share)

$0.64

$0.51

$0.47

$0.51

$0.54

$0.46

$0.48

$0.43

$2.13

$1.90

$1.29

Diluted earnings per common share (in dollars per share)

$0.64

$0.51

$0.47

$0.51

$0.53

$0.45

$0.48

$0.43

$2.13

$1.90

$1.29

Equity method investment, impairment details

Number of senior housing communities

129

133

Selected_Quarterly_Financial_D3

Selected Quarterly Financial Data (Unaudited) (Details 2)	12 Months Ended			0 Months Ended		3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Sep. 06, 2013	Sep. 06, 2013	Sep. 30, 2013	Sep. 30, 2013
	USD ($)	USD ($)	USD ($)	Barchester debt investments	Barchester debt investments	Barchester debt investments	Barchester debt investments
				USD ($)	GBP (£)	USD ($)	GBP (£)
Loans receivable:	'	'	'	'	'	'	'
Cash payments received from borrower	'	'	'	$202,000,000	£ 129,000,000	$202,000,000	£ 129,000,000
Additional interest income as a result of extinguishment of loans	$86,159,000	$24,536,000	$99,864,000	$24,000,000	'	$24,000,000	'

Selected_Quarterly_Financial_D4

Selected Quarterly Financial Data (Unaudited) (Details 3) (Former Chairman, Chief Executive Officer and President, USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2013
Former Chairman, Chief Executive Officer and President	'	'
Termination related charges	'	'
Severance-related charges	$26	$27
Accelerated deferred compensation on termination	'	17
Severance payments and other costs	$9	$10

Schedule_II_Valuation_and_Qual1

Schedule II - Valuation and Qualifying Accounts (Details) (Allowance Accounts, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Allowance Accounts	'	'	'
Movement in Valuation Allowances and Reserves	'	'	'
Balance at the beginning of the year	$48,599	$49,209	$43,740
Additions	'	'	'
Amounts Charged Against Operations, net	2,633	3,724	13,316
Acquired Properties	'	'	2
Deductions	'	'	'
Uncollectible Accounts Written-off	-2,063	-960	-4,673
Disposed Properties	'	-3,374	-3,176
Balance at the end of the year	$49,169	$48,599	$49,209

Schedule_III_Real_Estate_and_A1

Schedule III - Real Estate and Accumulated Depreciation (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
In Thousands, unless otherwise specified					Continuing operations properties	Corporate and other assets	Senior housing	Life science	Medical office	Post-acute/skilled nursing	Hospital	1107 Huntsville AL	1154 Little Rock AR	786 Douglas AZ	2087 Prescott AZ	1974 Sun City AZ	518 Tucson AZ	1238 Beverly Hills CA	1149 Camarillo CA	1006 Carlsbad CA	883 Carmichael CA	851 Citrus Heights CA	2092 Clearlake CA	790 Concord CA	2181 Corona CA	787 Dana Point CA	1152 Elk Grove CA	798 Escondido CA	2054 Fortuna CA	2079 Fortuna CA	791 Fremont CA	1965 Fresno CA	788 Granada Hills CA	1156 Hemet CA	856 Irvine CA	227 Lodi CA	226 Murietta CA	1165 Northridge CA	1561 Orangevale CA	1168 Palm Springs CA	789 Pleasant Hill CA	1166 Rancho Mirage CA	2065 Roseville CA	1008 San Diego CA	1007 San Dimas CA	1009 San Juan Capistrano CA	1167 Santa Rosa CA	793 South San Francisco CA	1966 Sun City CA	792 Ventura CA	1155 Yorba Linda CA	2055 Yreka CA	1232 Colorado Springs CO	512 Denver CO	1233 Denver CO	2146 Denver CO	1000 Greenwood Village CO	1234 Lakewood CO	2091 Montrose CO	2085 Glastonbury CT	2144 Glastonbury CT	730 Torrington CT	1010 Woodbridge CT	538 Altamonte Springs FL	861 Apopka FL	852 Boca Raton FL	1001 Boca Raton FL	544 Boynton Beach FL	1963 Boynton Beach FL	1964 Boynton Beach FL	539 Clearwater FL	746 Clearwater FL	862 Clermont FL	1002 Coconut Creek FL	492 Delray Beach FL	850 Gainesville FL	1095 Gainesville FL	490 Jacksonville FL	1096 Jacksonville FL	855 Lantana FL	1968 Largo FL	731 Ocoee FL	859 Oviedo FL	1970 Palm Beach Gardens FL	1017 Palm Harbor FL	732 Port Orange FL	1971 Sarasota FL	802 St Augustine FL	2194 Springtree FL	692 Sun City Center FL	698 Sun City Center FL	1097 Tallahassee FL	224 Tampa FL	849 Tampa FL	1257 Vero Beach FL	1605 Vero Beach FL	1976 West Palm Beach FL	1098 Alpharetta GA	1099 Atlanta GA	1169 Atlanta GA	2108 Buford GA	2109 Buford GA	2123 Buford GA	2053 Canton GA	2155 Commerce GA	2165 Hartwell GA	2066 Lawrenceville GA	1241 Lilburn GA	2167 Lithia Springs GA	2105 Macon GA	1112 Marietta GA	2156 Marietta GA	2086 Newnan GA	2147 Stone Mountain GA	2118 Woodstock GA	2157 Woodstock GA	1088 Davenport IA	1093 Marion IA	2166 Sioux City IA	1091 Bloomington IL	1587 Burr Ridge IL	1089 Champaign IL	1157 Hoffman Estates IL	1090 Macomb IL	1143 Mt Vernon IL	1969 Niles IL	1005 Oak Park IL	1961 Olympia Fields IL	1162 Orland Park IL	1092 Peoria IL	1588 Prospect Heights IL	1952 Vernon Hills IL	1237 Wilmette IL	379 Evansville IN	1144 Indianapolis IN	1145 Indianapolis IN	457 Jasper IN	2047 Kokomo IN	1146 West Lafayette IN	1170 Edgewood KY	697 Lexington KY	1105 Louisville KY	2115 Murray KY	2135 Paducah KY	1013 Danvers MA	1151 Dartmouth MA	1012 Dedham MA	1158 Plymouth MA	1153 Baltimore MD	1249 Frederick MD	1011 Pikesville MD	281 Westminster MD	546 Cape Elizabeth ME	545 Saco ME	1258 Auburn Hills MI	1248 Farmington Hills MI	696 Holland MI	1094 Portage MI	472 Sterling Heights MI	1259 Sterling Heights MI	2143 Champlin MN	1235 Des Peres MO	1236 Richmond Heights MO	853 St Louis MO	2081 St Peters MO	2074 Oxford MS	842 Great Falls MT	2163 Great Falls MT	878 Charlotte NC	1584 Charlotte NC	1119 Concord NC	2126 Mooresville NC	1254 Raleigh NC	2127 Minot ND	2080 Kearney NE	2169 Lexington NE	2168 Mc Cook NE	2129 Seward NE	2119 Wayne NE	1599 Cherry Hill NJ	1239 Cresskill NJ	734 Hillsborough NJ	1242 Madison NJ	733 Manahawkin NJ	1014 Paramus NJ	1231 Saddle River NJ	245 Voorhees Township NJ	213 Albuquerque NM	2120 Albuquerque NM	2161 Rio Rancho NM	2121 Roswell NM	2150 Roswell NM	796 Las Vegas NV	2110 Las Vegas NV	1252 Brooklyn NY	1256 Brooklyn NY	2177 Clifton Park NY	2176 Greece NY	2178 Greece NY	2174 Orchard Park NY	2175 Orchard Park NY	473 Cincinnati OH	841 Columbus OH	857 Fairborn OH	1147 Fairborn OH	1386 Marietta OH	1253 Poland OH	1159 Willoughby OH	2158 Broken Arrow OK	2122 Muskogee OK	1171 Oklahoma City OK	2082 Oklahoma City OK	2083 Oklahoma City OK	2070 Tahlequah OK	1160 Tulsa OK	2130 Ashland OR	2103 Eagle Point OR	2179 Eldorado Heights OR	2098 Eugene OR	2104 Eugene OR	2136 Grants Pass OR	2137 Grants Pass OR	2138 Grants Pass OR	2145 Grants Pass OR	2139 Gresham OR	2182 Hermiston Terrace OR	2140 Lebanon OR	2152 McMinnville OR	2159 McMinnville OR	2090 Monmouth OR	2106 Monmouth OR	2089 Newberg OR	2133 Portland OR	2151 Portland OR	2171 Portland OR	2050 Redmond OR	2131 River Road OR	2084 Roseburg OR	2134 Scappoose OR	2153 Scappoose OR	2051 Springfield OR	2057 Springfield OR	2056 Stayton OR	2058 Stayton OR	2088 Tualatin OR	2180 Windfield Village OR	1163 Haverford PA	2063 Selinsgrove PA	1967 Cumberland RI	1959 East Providence RI	1960 Greenwich RI	1972 Smithfield RI	1973 South Kingstown RI	1975 Tiverton RI	1962 Warwick RI	1104 Aiken SC	1100 Charleston SC	1109 Columbia SC	2154 Florence SC	306 Georgetown SC	879 Greenville SC	1172 Greenville SC	2059 Greenville SC	2099 Hilton Head Island SC	2111 Hilton Head Island SC	2112 Hilton Head Island SC	305 Lancaster SC	880 Myrtle Beach SC	312 Rock Hill SC	1113 Rock Hill SC	2076 Rock Hill SC	2093 Rock Hill SC	313 Sumter SC	2067 West Columbia SC	2132 Cordova TN	2060 Franklin TN	2100 Hendersonville TN	2073 Kingsport TN	2071 Memphis TN	1003 Nashville TN	2094 Nashville TN	860 Oak Ridge TN	843 Abilene TX	2107 Amarillo TX	1004 Arlington TX	1116 Arlington TX	511 Austin TX	1589 Austin TX	202 Beaumont TX	2075 Bedford TX	844 Burleson TX	848 Cedar Hill TX	1325 Cedar Hill TX	2164 Dallas TX	513 Fort Worth TX	506 Friendswood TX	217 Houston TX	491 Houston TX	1106 Houston TX	1111 Houston TX	1955 Houston TX	1957 Houston TX	1958 Houston TX	2068 Houston TX	820 Irving TX	2149 Kerrville TX	2124 Lubbock TX	845 North Richland Hills TX	846 North Richland Hills TX	2113 North Richland Hills TX	1102 Plano TX	2064 Plano TX	2162 Portland TX	494 San Antonio TX	1590 San Antonio TX	2116 Sherman TX	1954 Sugar Land TX	1103 The Woodlands TX	195 Victoria TX	847 Waxahachie TX	1953 Webster TX	2069 Cedar City UT	1161 Salt Lake City UT	2101 St George UT	1015 Arlington VA	1244 Arlington VA	1245 Arlington VA	881 Chesapeake VA	1247 Falls Church VA	1164 Fort Belvoir VA	1250 Leesburg VA	1016 Richmond VA	1246 Sterling VA	2077 Sterling VA	225 Woodbridge VA	1173 Bellevue WA	2095 College Place WA	1240 Edmonds WA	2172 Ellensburg WA	2160 Kenmore WA	797 Kirkland WA	1174 Lynnwood WA	1251 Mercer Island WA	2141 Moses Lake WA	2096 Poulsbo WA	2102 Richland WA	794 Shoreline WA	795 Shoreline WA	1175 Snohomish WA	2097 Spokane WA	2061 Vancouver WA	2062 Vancouver WA	2052 Yakima WA	2078 Yakima WA	2114 Yakima WA	2072 Appleton WI	2170 Madison WI	2173 Oakridge WI	2117 Bridgeport WV	2125 Bridgeport WV	2142 Cody WY	2148 Sheridan WY	2 Fort Collins CO	18 Morrison CO	280 Statesboro GA	297 Rexburg ID	378 Anderson IN	2189 Anderson IN	384 Angola IN	385 Fort Wayne IN	386 Fort Wayne IN	387 Huntington IN	373 Kokomo IN	454 New Albany IN	484 Tell City IN	688 Cynthiana KY	298 Franklin LA	299 Morgan City LA	388 Las Vegas NV	389 Las Vegas NV	390 Fairborn OH	391 Georgetown OH	392 Port Clinton OH	393 Springfield OH	394 Toledo OH	395 Versailles OH	285 Fort Worth TX	296 Ogden UT	681 Fishersville VA	682 Floyd VA	689 Independence VA	683 Newport News VA	684 Roanoke VA	685 Staunton VA	686 Williamsburg VA	690 Windsor VA	687 Woodstock VA	1482 Brisbane CA	1481 Carlsbad CA	1522 Carlsbad CA	1401 Hayward CA	1402 Hayward CA	1403 Hayward CA	1404 Hayward CA	1405 Hayward CA	1549 Hayward CA	1550 Hayward CA	1551 Hayward CA	1552 Hayward CA	1553 Hayward CA	1554 Hayward CA	1555 Hayward CA	1556 Hayward CA	1424 La Jolla CA	1425 La Jolla CA	1426 La Jolla CA	1427 La Jolla CA	1947 La Jolla CA	1949 La Jolla CA	1488 Mountain View CA	1489 Mountain View CA	1490 Mountain View CA	1491 Mountain View CA	1492 Mountain View CA	1493 Mountain View CA	1494 Mountain View CA	1495 Mountain View CA	1496 Mountain View CA	1497 Mountain View CA	1498 Mountain View CA	2017 Mountain View CA	1470 Poway CA	1471 Poway CA	1472 Poway CA	1473 Poway, CA	1477 Poway CA	1478 Poway CA	1499 Redwood City CA	1500 Redwood City CA	1501 Redwood City CA	1502 Redwood City CA	1503 Redwood City CA	1504 Redwood City CA	1505 Redwood City CA	1506 Redwood City CA	1507 Redwood City CA	1508 Redwood City CA	1509 Redwood City CA	1510 Redwood City CA	1511 Redwood City CA	1512 Redwood City CA	1513 Redwood City CA	679 San Diego CA	837 San Diego CA	838 San Diego CA	839 San Diego CA	840 San Diego CA	1418 San Diego CA	1420 San Diego CA	1421 San Diego CA	1422 San Diego CA	1423 San Diego CA	1514 San Diego CA	1558 San Diego CA	1948 San Diego CA	1950 San Diego CA	2197 San Diego CA	1407 South San Francisco CA	1408 South San Francisco CA	1409 South San Francisco CA	1410 South San Francisco CA	1411 South San Francisco CA	1412 South San Francisco CA	1413 South San Francisco CA	1414 South San Francisco CA	1430 South San Francisco CA	1431 South San Francisco CA	1435 South San Francisco CA	1436 South San Francisco CA	1437 South San Francisco CA	1439 South San Francisco CA	1440 South San Francisco CA	1441 South San Francisco CA	1442 South San Francisco CA	1443 South San Francisco CA	1444 South San Francisco CA	1445 South San Francisco CA	1448 South San Francisco CA	1449 South San Francisco CA	1450 South San Francisco CA	1451 South San Francisco CA	1452 South San Francisco CA	1454 South San Francisco CA	1455 South San Francisco CA	1456 South San Francisco CA	1458 South San Francisco CA	1459 South San Francisco CA	1460 South San Francisco CA	1461 South San Francisco CA	1462 South San Francisco CA	1463 South San Francisco CA	1464 South San Francisco CA	1468 South San Francisco CA	1480 South San Francisco CA	1559 South San Francisco CA	1560 South San Francisco CA	1982 South San Francisco CA	1604 Cambridge MA	2011 Durham NC	2029 Durham NC	461 Salt Lake City UT	462 Salt Lake City UT	463 Salt Lake City UT	464 Salt Lake City UT	465 Salt Lake City UT	466 Salt Lake City UT	507 Salt Lake City UT	537 Salt Lake City UT	799 Salt Lake City UT	1593 Salt Lake City UT	638 Anchorage AK	520 Chandler AZ	2040 Mesa AZ	468 Oro Valley AZ	356 Phoenix AZ	470 Phoenix AZ	1066 Scottsdale AZ	2021 Scottsdale AZ	2022 Scottsdale AZ	2023 Scottsdale AZ	2024 Scottsdale AZ	2025 Scottsdale AZ	2026 Scottsdale AZ	2027 Scottsdale AZ	2028 Scottsdale AZ	453 Tucson AZ	556 Tucson AZ	1041 Brentwood CA	1200 Encino CA	436 Murietta CA	239 Poway CA	318 Sacramento CA	234 San Diego CA	235 San Diego CA	236 San Diego CA	421 San Diego CA	564 San Jose CA	565 San Jose CA	659 San Jose CA	1209 Sherman Oaks CA	439 Valencia CA	1211 Valencia CA	440 West Hills CA	728 Aurora CO	1196 Aurora CO	1197 Aurora CO	882 Colorado Springs CO	814 Conifer CO	1199 Denver CO	808 Englewood CO	809 Englewood CO	810 Englewood CO	811 Englewood CO	812 Littleton CO	813 Littleton CO	570 Lone Tree CO	666 Lone Tree CO	1076 Parker CO	510 Thornton CO	433 Atlantis FL	434 Atlantis FL	435 Atlantis FL	602 Atlantis FL	604 Englewood FL	609 Kissimmee FL	610 Kissimmee FL	671 Kissimmee FL	603 Lake Worth FL	612 Margate FL	613 Miami FL	1067 Milton FL	563 Orlando FL	833 Pace FL	834 Pensacola FL	614 Plantation FL	673 Plantation FL	701 St Petersburg FL	1210 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TN	573 Arlington TX	576 Conroe TX	577 Conroe TX	578 Conroe TX	579 Conroe TX	581 Corpus Christi TX	600 Corpus Christi TX	601 Corpus Christi TX	582 Dallas TX	1314 Dallas TX	583 Fort Worth TX	805 Fort Worth TX	806 Fort Worth TX	1061 Granbury TX	430 Houston TX	446 Houston TX	586 Houston TX	589 Houston TX	670 Houston TX	702 Houston TX	1044 Houston TX	590 Irving TX	700 Irving TX	1202 Irving TX	1207 Irving TX	1062 Lancaster TX	2195 Lancaster TX	591 Lewisville TX	144 Longview TX	143 Lufkin TX	568 McKinney TX	569 McKinney TX	596 Nassau Bay TX	1079 North Richland Hills TX	2048 North Richland Hills TX	1048 Pearland TX	447 Plano TX	597 Plano TX	672 Plano TX	1284 Plano TX	1286 Plano TX	815 San Antonio TX	816 San Antonio TX	1591 San Antonio TX	1977 San Antonio TX	598 Sugarland TX	1081 Texarkana TX	599 Texas City TX	152 Victoria TX	1592 Bountiful UT	169 Bountiful UT	346 Castle Dale UT	347 Centerville UT	2035 Draper UT	350 Grantsville UT	469 Kaysville UT	456 Layton UT	2042 Layton UT	359 Ogden UT	1283 Ogden UT	357 Orem UT	371 Providence UT	353 Salt Lake City UT	354 Salt Lake City UT	355 Salt Lake City UT	467 Salt Lake City UT	566 Salt Lake City UT	2041 Salt Lake City UT	2033 Sandy UT	358 Springville UT	482 Stansbury UT	351 Washington Terrace UT	352 Washington Terrace UT	2034 West Jordan UT	2036 West Jordan UT	495 West Valley City UT	349 West Valley City UT	1208 Fairfax VA	572 Reston VA	448 Renton WA	781 Seattle WA	782 Seattle WA	783 Seattle WA	785 Seattle WA	1385 Seattle WA	2038 Evanston WY	884 Coyoacan DF	126 Sherwood AR	113 Glendale AZ	1038 Fresno CA	423 Irvine CA	127 Colorado Springs CO	887 Atlanta GA	112 Overland Park KS	1383 Baton Rouge LA	877 Slidell LA	2031 Slidell LA	886 Dallas TX	1319 Dallas TX	1384 Plano TX	2198 Webster TX
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housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Senior housing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Post-acute/skilled nursing	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life science	Life 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office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical office	Medical 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properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties	Continuing operations properties
Real Estate and Accumulated Depreciation	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Encumbrances as of Year end	$1,396,485	'	'	'	$1,396,485	'	$1,048,786	$54,285	$293,414	'	'	'	'	'	'	$27,334	'	'	'	'	'	'	'	$25,000	$2	'	'	$14,340	'	'	$8,857	$18,961	'	'	'	$8,776	$5,897	'	'	'	$6,270	'	'	'	'	'	'	$10,216	$14,355	$9,653	'	'	'	'	'	'	'	'	'	'	'	$12,284	'	'	$5,733	'	$11,387	$7,856	$28,171	$3,944	'	$17,309	$8,120	$13,617	$11,183	$15,715	'	$43,240	'	'	$49,413	$16,100	$8,371	$27,210	'	$15,026	$22,782	$14,419	$3,871	'	'	'	'	$11,865	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$26,079	$25,685	$29,470	'	'	'	$43,249	'	'	'	'	'	'	'	'	$8,010	'	'	'	'	'	'	'	'	'	'	$15,079	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$15,554	'	$13,571	'	'	$8,421	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$6,388	$6,557	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$3,004	'	'	'	'	'	'	'	'	'	'	$3,058	'	'	'	'	'	'	'	'	$3,731	'	'	'	$14,948	$8,187	'	'	'	$14,627	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$11,000	'	$8,395	$1,748	'	$14,076	'	'	'	'	'	$3,992	$8,548	'	'	'	$22,392	$11,354	'	'	'	$49,123	$32,260	$29,704	'	$10,569	'	'	$2,927	$6,483	'	'	'	'	$7,721	'	'	$31,770	'	$12,496	$2,004	$30,356	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$8,973	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$12,006	$7,921	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$24,785	$1,009	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$8,564	'	'	'	'	'	'	'	'	'	'	'	$6,091	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$2,764	$6,436	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$13,774	'	'	'	'	'	'	'	'	'	'	'	'	$8,339	'	'	'	'	$769	$4,783	'	'	'	'	'	$1,843	'	'	'	'	'	$4,891	$7,907	$8,561	'	$24,878	'	'	'	'	'	'	$945	$32,716	'	'	'	'	'	'	'	$3,406	$3,551	$6,791	$981	$1,998	'	$3,163	'	'	'	'	'	'	'	'	'	'	'	$8,878	$3,654	$518	$5,175	$522	'	'	$9,344	$8,543	$426	$8,333	$2,722	$5,006	$5,231	$1,710	'	'	'	$5,145	'	$2,839	'	'	'	'	'	'	$9,462	'	'	'	$5,382	'	'	'	'	'	$5,027	'	'	'	'	$5,257	'	'	'	'	$7,393	$9,296	'	'	'	$4,279	'	'	$3,726	'	$6,091	'	$5,064	'	'	'	$5,683	'	'	'	'	'	'	'	'	'	'	'	'	'	'	$2,983	'	'	'	'	$7,696	$1,340	'	'	'	'	'	'	'	'	'	'	$2,102	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Initial Cost to Company	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Land	1,815,337	'	'	'	1,815,337	'	608,154	935,829	191,932	13,840	65,582	307	1,922	110	1,277	2,640	2,350	9,872	5,798	7,897	4,270	1,180	354	6,010	2,636	1,960	2,235	5,090	818	1,346	2,360	1,730	2,200	1,270	8,220	732	435	6,718	2,160	1,005	2,480	1,798	692	6,384	5,628	5,983	3,582	3,000	2,650	2,030	4,968	565	1,910	2,810	2,511	875	3,367	3,012	1,078	3,743	1,658	166	2,352	1,530	920	4,730	2,415	1,270	2,550	570	2,250	3,856	440	2,461	850	1,020	1,221	3,250	1,587	3,520	2,920	2,096	670	4,820	1,462	2,340	3,050	830	1,066	510	3,466	1,331	600	800	2,035	700	390	793	687	2,665	562	536	1,987	401	737	368	581	907	1,031	814	894	987	1,227	264	764	1,926	511	502	197	798	2,640	101	1,701	81	296	3,790	3,476	4,120	2,623	404	2,680	4,900	1,100	500	1,197	1,144	165	296	813	1,868	2,093	1,499	288	621	4,616	3,145	3,930	2,434	1,684	609	1,416	768	630	80	2,281	1,013	787	100	920	1,593	1,576	4,361	1,744	2,500	1,377	2,003	500	252	710	2,052	601	2,538	1,191	685	856	474	1,024	792	1,005	2,420	4,684	1,042	3,157	921	4,280	1,784	900	767	2,224	1,154	618	837	1,960	667	8,117	5,215	2,257	666	601	726	478	600	970	810	298	1,069	695	1,177	1,115	412	801	1,344	2,116	256	1,115	'	609	311	1,082	653	430	1,064	618	775	465	582	505	3,203	1,374	490	603	1,889	1,615	1,677	'	1,229	551	1,042	353	971	1,124	527	48	253	'	580	16,461	529	2,630	1,890	450	1,250	1,390	3,240	1,050	357	885	408	255	239	1,090	993	149	828	1,107	621	84	900	203	695	919	503	196	220	2,167	2,475	1,298	1,113	1,315	812	1,444	500	300	1,315	2,002	2,494	2,960	2,860	145	1,204	1,050	1,070	440	2,120	2,830	400	835	2,470	1,008	1,877	9,820	8,170	2,910	985	710	1,459	1,143	520	870	909	494	590	1,233	730	2,860	209	3,420	802	175	390	4,780	437	2,621	683	4,320	3,833	7,278	1,090	2,228	11,594	607	2,110	2,360	1,046	950	3,734	758	1,418	759	3,284	1,000	1,203	4,209	429	1,801	249	1,590	4,030	1,541	903	513	1,498	557	353	721	182	834	801	3,174	3,280	708	915	499	1,429	168	200	500	406	130	200	140	30	250	230	95	192	405	203	1,300	1,300	250	130	370	250	120	120	243	250	751	309	206	535	586	422	699	319	603	50,989	30,300	23,475	900	1,500	1,900	2,200	1,000	1,006	677	661	1,187	1,189	1,246	1,521	1,212	9,600	6,200	7,200	8,700	2,581	2,686	7,300	6,500	4,800	4,200	3,600	7,500	9,800	6,900	7,000	14,100	7,100	'	5,826	5,978	8,654	17,146	29,943	6,700	3,400	2,500	3,600	3,100	4,800	5,400	3,000	6,000	1,900	2,700	2,700	2,200	2,600	3,300	3,300	7,872	4,630	2,040	3,940	5,690	11,700	6,524	7,000	7,179	8,400	5,200	7,740	5,879	884	7,621	28,600	9,000	18,000	4,900	8,000	10,100	8,000	3,700	10,700	7,000	13,800	14,500	9,400	11,900	10,000	9,300	11,000	13,200	10,500	10,600	14,100	12,800	11,200	7,200	14,400	11,100	9,700	6,300	10,900	3,600	2,300	3,900	7,117	10,381	7,403	10,100	32,210	5,666	1,204	64,900	8,389	448	1,920	500	890	190	630	125	'	280	'	'	'	1,456	3,669	'	1,050	780	280	5,115	'	'	'	'	'	'	'	'	215	215	'	6,151	400	2,700	2,860	2,848	2,863	4,619	2,910	1,935	1,460	1,718	7,472	2,300	1,344	2,100	'	210	200	'	'	493	'	'	'	'	'	'	'	'	'	236	'	'	'	455	170	788	481	'	1,507	1,553	4,392	'	2,144	'	'	969	1,091	'	1,967	'	99	'	440	'	530	'	936	835	780	826	2,983	788	3,255	430	800	1,115	670	'	117	160	'	'	'	'	'	'	55	'	1,121	2,125	3,480	1,717	1,172	3,244	'	823	'	619	'	'	765	256	830	596	317	700	955	2,050	1,007	2,980	515	266	827	5,425	3,818	583	769	324	397	388	188	717	328	313	1,664	15,230	898	'	'	'	1,927	2,200	1,033	1,676	257	'	'	828	'	1,604	1,955	172	'	561	102	338	541	'	812	'	1,385	'	1,700	1,210	1,389	2,049	3,300	'	'	'	'	1,078	1,117	'	125	999	276	50	300	'	50	530	371	'	180	106	337	240	190	220	180	3,000	509	'	867	85	450	'	'	'	'	410	1,070	8,396	'	'	'	'	'	'	'	'	415	709	1,565	3,652	18,000	690	4,300	2,316	690	1,490	3,000	1,820	18,840	6,290	2,220
Buildings and Improvements	9,868,109	'	'	'	9,865,380	2,729	5,135,147	2,218,082	1,973,168	162,673	376,310	5,813	14,140	703	8,660	33,223	24,037	32,590	19,427	14,255	13,846	8,367	4,799	39,601	10,134	15,946	6,339	24,253	3,295	11,856	11,672	31,918	18,257	5,966	14,104	5,453	5,729	26,309	8,522	5,183	21,333	24,053	21,662	32,072	31,374	9,614	21,113	16,586	22,709	17,379	19,290	9,184	24,479	36,021	30,641	5,693	43,610	31,913	24,224	9,766	16,046	11,001	9,929	7,956	4,816	17,532	17,923	4,773	31,521	5,649	2,627	12,176	6,518	16,006	6,637	13,490	12,226	25,936	15,616	26,452	64,989	9,322	8,071	24,937	16,774	9,898	29,516	11,627	15,874	6,120	70,810	19,039	5,566	11,340	34,993	16,234	2,241	8,761	5,507	5,911	3,604	3,142	6,561	17,888	8,228	6,337	2,669	17,340	6,954	10,890	6,944	4,818	4,202	3,182	7,334	12,757	8,039	6,865	8,078	13,091	23,902	4,207	12,037	6,062	15,935	32,912	35,259	29,400	23,154	10,050	20,299	45,854	9,373	9,302	7,718	8,261	5,952	3,245	10,876	4,934	16,917	26,252	7,400	16,768	30,692	6,880	21,340	9,027	18,889	9,158	8,854	5,251	3,524	2,363	10,692	12,119	51,410	5,700	7,326	11,500	26,725	20,664	24,232	20,343	31,508	14,140	5,683	9,908	9,559	6,529	7,615	37,617	11,532	16,047	22,584	8,405	13,789	18,276	13,953	11,042	53,927	10,042	19,909	9,927	31,684	15,625	7,629	9,324	8,049	13,726	7,038	8,614	5,816	14,469	23,627	39,052	11,470	9,569	7,362	17,735	11,961	4,428	7,806	8,311	10,704	11,435	10,444	9,982	18,852	2,815	4,904	3,943	28,007	5,648	11,028	19,303	12,117	7,868	18,858	13,568	3,267	16,124	2,932	13,230	6,403	8,087	12,571	24,909	6,118	1,278	8,538	16,855	12,030	9,469	16,087	21,921	6,454	12,090	1,258	7,116	22,515	6,035	569	8,621	6,326	9,817	108,816	9,111	19,050	13,989	11,845	17,816	12,551	25,735	17,389	14,832	14,124	7,527	4,052	3,008	12,558	16,314	3,827	6,285	1,873	2,234	2,982	10,913	2,671	4,119	14,741	4,281	2,623	2,662	5,829	27,337	2,464	8,625	9,787	16,983	14,436	4,741	2,830	26,838	19,110	12,192	41,645	17,358	10,404	26,845	5,242	11,554	7,494	8,986	50,832	7,354	7,195	21,710	15,333	25,372	50,079	37,285	37,443	18,824	9,949	33,408	4,656	5,117	9,259	11,337	12,518	6,930	14,001	3,961	17,030	3,492	36,846	17,358	4,290	3,879	30,854	8,706	22,072	9,435	19,567	7,076	37,407	12,444	8,887	99,528	3,236	11,469	22,932	15,788	6,983	16,171	8,051	16,502	5,699	16,641	13,403	7,415	8,123	4,417	18,068	5,067	10,671	26,421	10,228	5,363	4,556	9,997	5,897	5,668	8,872	12,581	10,050	16,688	15,437	4,181	9,926	12,047	1,913	5,464	1,508	5,310	4,724	'	2,900	4,150	3,760	2,970	4,622	6,595	6,208	4,875	3,424	2,050	3,950	5,800	4,850	4,970	3,630	3,950	5,130	4,980	2,036	4,685	7,734	2,263	8,366	6,192	7,159	8,681	4,886	7,543	5,395	1,789	'	'	7,100	6,400	7,100	17,200	3,200	4,259	2,761	1,995	7,139	9,465	5,179	13,546	5,120	25,283	19,883	12,412	16,983	10,534	11,045	25,410	22,800	9,500	8,400	9,700	16,300	24,000	17,800	17,000	31,002	25,800	20,350	12,200	14,200	'	2,405	2,475	14,400	5,500	4,100	4,600	5,100	17,300	15,500	3,500	14,300	12,800	11,300	10,900	12,000	9,300	18,000	17,900	34,617	2,029	902	3,184	4,579	31,243	'	33,779	3,687	33,144	'	22,654	25,305	2,796	3,913	48,700	17,800	38,043	18,100	27,700	22,521	28,299	20,800	23,621	15,500	42,500	45,300	24,800	68,848	57,954	43,549	47,289	60,932	33,776	34,083	71,344	63,600	79,222	50,856	101,362	47,738	41,937	22,900	20,900	100	100	200	600	2,300	700	24,013	3,110	5,773	1,293	'	10,630	6,152	5,661	8,548	15,623	9,875	6,921	6,368	14,614	4,345	6,517	14,600	23,998	10,650	13,503	17,314	6,774	3,199	877	14,064	12,312	9,179	6,398	9,522	4,102	3,655	7,168	6,659	6,318	3,940	30,864	10,438	9,266	10,839	21,850	5,879	8,913	19,370	17,362	1,728	7,672	3,124	10,075	6,967	7,507	11,595	8,764	12,362	8,414	12,933	1,485	7,897	8,616	8,449	8,040	8,472	4,562	4,926	'	23,274	13,388	10,206	5,651	2,027	2,000	2,231	1,134	174	347	7,574	2,894	6,898	11,841	8,566	5,136	10,309	11,166	3,241	7,176	10,141	6,602	3,231	11,484	14,019	2,173	7,668	3,341	12,726	8,426	27,627	8,582	13,814	13,171	2,414	28,644	6,125	8,537	3,206	5,085	14,233	13,213	10,131	48,025	8,413	8,869	7,187	16,243	5,380	2,637	'	4,363	4,829	12,305	3,597	1,550	18,339	5,559	2,726	4,561	9,256	6,582	5,707	4,184	1,530	5,036	9,698	6,528	4,559	14,289	5,211	181	7,164	848	1,305	7,642	12,577	15,185	450	12,355	4,842	7,966	7,975	3,618	8,181	3,210	1,771	6,785	162,971	4,866	2,481	6,070	6,863	33,140	19,585	3,165	12,602	2,884	7,414	4,838	6,160	8,550	16,107	12,793	2,692	1,138	8,043	7,998	2,383	6,217	636	8,883	8,942	10,213	4,014	7,810	9,588	12,768	18,793	'	9,193	8,699	7,309	26,191	5,158	7,423	9,519	8,977	7,426	5,237	1,818	1,288	10,803	429	4,493	7,073	10,275	1,695	4,464	8,744	3,876	779	10,732	14,792	7,541	4,044	12,326	3,513	1,493	3,201	4,573	2,692	12,021	1,383	8,266	17,463	16,710	11,903	18,724	52,703	24,382	5,625	7,293	38,925	4,601	3,739	9,604	7,050	29,113	70,800	8,338	13,690	10,681	8,545	22,034	'	8,508	155,659	22,686	9,602
Costs Capitalized Subsequent to Acquisition	1,058,369	'	'	'	1,054,268	4,101	125,352	503,894	368,107	28,778	28,137	'	445	'	'	724	'	2,150	575	363	'	'	'	'	'	'	262	'	'	'	'	2,535	'	214	'	'	'	549	1,000	396	'	475	'	222	208	189	665	'	1,369	'	308	'	400	1,885	342	'	890	321	'	'	'	'	224	'	'	2,619	'	'	1,364	471	'	'	'	'	'	'	'	4,560	'	'	4,176	'	'	11,808	500	'	1,265	'	'	'	'	'	686	'	201	'	172	775	1,235	455	'	'	'	'	'	'	'	36	'	'	552	'	'	'	'	'	'	'	'	'	912	1,592	244	'	3,562	2,590	764	772	224	'	953	456	'	'	'	7,371	359	'	'	339	'	240	'	'	243	516	267	441	380	320	288	'	93	155	'	307	'	4,617	'	'	'	'	'	'	'	'	'	'	'	'	166	'	271	'	'	'	'	'	'	1,000	63	'	52	'	207	236	'	'	'	'	'	'	'	'	580	179	'	'	'	'	'	'	1,023	'	3,068	'	42	295	'	'	265	'	'	'	282	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	3,311	'	770	1,084	1,239	653	630	651	1,369	151	292	131	'	'	'	437	'	'	'	'	'	'	'	322	'	'	'	'	'	'	'	'	'	2,524	'	'	'	'	'	249	'	497	'	'	'	'	'	'	'	'	'	750	183	247	3,543	2,089	2,393	'	'	'	'	'	'	'	145	'	'	'	282	'	2,496	228	3,101	'	2,346	'	287	'	455	206	392	'	119	6,587	82	281	412	'	'	210	'	49	'	'	'	326	318	'	'	'	'	'	195	'	'	'	'	'	'	'	'	'	'	'	'	'	1,454	4,019	'	'	1,734	6,778	2,791	2,667	'	338	1,294	'	1,299	'	'	'	4,013	'	'	'	'	2,113	'	'	269	'	'	'	'	'	'	'	'	'	9	39,851	7,723	2,816	915	3,465	424	12	7,478	1,551	5,019	3,298	594	110	1,829	121	3,315	7,794	125	3,460	2,059	20	575	1,914	1,866	442	1,249	730	1,904	203	3,245	6,364	10,111	8,101	-94	5,727	4,253	5,804	2,214	17,641	6,145	1,275	1,220	860	843	3,280	930	635	3,569	8,436	7,095	6,099	5,203	1,539	123	292	17,690	8,967	4,975	4,584	686	6,370	3,568	'	846	8	'	2,100	326	'	3,905	5,341	1,023	421	157	363	239	252	203	212	157	32,853	34,087	16,980	70	'	'	81	1,158	353	'	52	472	20	66	-115	9,369	5,835	8,196	5,695	192	102	191	4,911	17,731	7,355	4,165	11,189	188	117	14,686	22,153	13,692	17,432	'	'	'	62	68	7	226	'	90	'	7,143	1,858	46	910	1,077	48	2,364	143	112	206	348	266	68	539	337	1,043	657	2,150	2,525	2,203	2,326	12,429	1,302	2,891	3,721	10,273	1,767	495	396	3,199	1,210	565	2,026	1,142	1,161	903	5,038	35	626	6,274	2,539	4,656	1,865	1,570	1,217	18,675	1,155	346	2,030	651	248	703	342	327	207	367	1,785	1,807	726	2,642	248	3,694	2,574	478	957	594	5,581	4,125	18	235	2,576	9	'	384	971	3,683	3,535	3,664	1,575	3,495	'	'	46	1,767	1,810	'	3,599	1,577	2,607	217	729	37	2,160	568	379	12	18,240	3,921	3,806	3,469	2,120	314	1,637	6	669	300	1,223	601	'	25	896	5,247	3,139	1,835	4,050	1,702	2,606	572	1,494	251	962	3,079	3,490	3,357	298	2,150	1,693	2,344	2,367	688	3,044	2,937	786	2,400	6,031	1,558	872	201	152	2,493	6,366	930	3,677	1,108	1,131	3,202	1,742	3,079	896	1,058	534	'	790	395	40	726	7,656	1,785	597	1,264	4,023	5,559	2,905	1,282	1,100	'	951	1,386	316	620	1,699	674	157	'	54	620	63	191	113	39	146	474	15	121	539	1,347	203	97	1,450	1,483	986	1,027	21	185	233	368	2,019	899	'	283	1,002	91	3,310	264	1,549	4,300	4,535	1,095	1,409	1,119	8	192	'	'	21,935	'	'	'	'	86	'	643	26	1,097	4,350	'
Gross Amount at Which Carried As of Year End	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Land	1,822,862	'	'	'	1,822,862	'	609,792	937,686	195,960	13,842	65,582	307	2,046	110	1,277	2,640	2,350	9,872	5,822	7,897	4,270	1,180	354	6,010	2,636	1,960	2,235	5,090	818	1,346	2,360	1,730	2,200	1,271	8,220	732	435	6,752	2,160	1,005	2,480	1,812	692	6,384	5,630	5,983	3,627	3,000	2,650	2,030	5,030	565	1,910	2,810	2,528	875	3,367	3,012	1,078	3,743	1,658	166	2,363	1,530	920	4,730	2,415	1,270	2,550	570	2,250	3,856	440	2,461	850	1,020	1,221	3,250	1,587	3,520	2,920	2,096	670	4,820	1,462	2,340	3,050	830	1,066	510	3,466	1,331	696	800	2,035	700	390	793	687	2,669	562	536	1,987	401	737	368	581	907	1,031	814	904	987	1,227	264	764	1,926	511	502	197	798	2,704	279	1,704	81	512	3,790	3,476	4,120	2,623	404	2,725	4,900	1,100	500	1,197	1,144	165	296	813	1,916	2,093	1,513	288	621	4,621	3,176	3,930	2,438	1,695	609	1,416	768	630	80	2,281	1,013	787	100	920	1,593	1,576	4,361	1,744	2,500	1,377	2,003	500	252	710	2,052	612	2,538	1,191	685	856	474	1,024	792	1,005	2,420	4,684	1,042	3,157	921	4,280	1,784	900	767	2,224	1,154	618	837	1,960	667	8,117	5,215	2,257	666	601	726	478	600	970	810	298	1,069	695	1,194	1,115	412	811	1,344	2,116	256	1,129	'	609	311	1,082	653	430	1,064	618	775	465	582	505	3,203	1,374	490	603	1,889	1,615	1,677	'	1,229	551	1,042	353	971	1,124	527	48	253	'	580	16,461	529	2,630	1,890	450	1,250	1,390	3,240	1,050	363	896	412	255	239	1,090	1,006	149	828	1,107	621	84	900	203	795	919	503	196	220	2,167	2,475	1,298	1,113	1,315	812	1,444	500	300	1,315	2,002	2,540	2,960	2,973	145	1,204	1,050	1,070	440	2,120	2,830	400	835	2,470	1,020	1,961	9,820	8,170	2,910	985	710	1,459	1,143	520	870	909	505	590	1,233	730	2,880	209	3,420	869	175	390	4,780	437	2,654	683	4,320	3,833	7,278	1,090	2,228	11,594	607	2,110	2,360	1,046	950	3,737	758	1,418	759	3,284	1,000	1,203	4,209	429	1,801	249	1,590	4,030	1,541	903	513	1,498	557	353	721	182	834	801	3,174	3,280	708	915	499	1,429	168	200	500	406	130	200	140	30	250	230	95	192	405	203	1,300	1,300	250	130	370	250	120	120	243	250	751	309	206	535	586	422	699	319	605	50,989	30,300	23,475	900	1,500	1,900	2,200	1,000	1,006	677	661	1,187	1,189	1,246	1,521	1,212	9,648	6,276	7,291	8,746	2,581	2,686	7,566	6,500	4,800	4,209	3,600	7,500	9,800	6,900	7,000	14,100	7,100	'	5,826	5,978	8,654	17,146	29,943	6,700	3,407	2,506	3,607	3,107	4,818	5,418	3,006	6,018	1,912	2,712	2,712	2,212	2,612	3,300	3,300	8,272	4,630	2,040	3,951	5,703	11,700	6,524	7,000	7,184	8,400	5,200	7,875	5,879	884	7,626	28,600	9,000	18,000	4,900	8,000	10,100	8,000	3,700	10,700	7,000	13,800	14,500	9,400	11,900	10,000	9,300	11,000	13,200	10,500	10,600	14,100	12,800	11,200	7,200	14,400	11,100	10,261	6,300	10,909	3,600	2,300	3,900	7,117	10,381	7,403	10,100	32,210	5,695	1,210	64,900	8,389	448	1,920	500	890	190	630	125	'	280	'	'	'	1,456	3,669	'	1,050	780	280	4,791	'	'	'	'	'	'	'	'	326	267	126	6,519	578	2,872	2,860	3,009	3,068	4,711	2,910	1,935	1,460	1,718	7,861	2,353	1,383	2,156	'	210	200	'	13	558	'	'	'	'	79	5	'	'	8	244	33	5	'	455	198	788	486	'	1,507	1,553	4,392	'	2,288	26	'	1,011	1,091	'	2,141	'	100	'	449	'	530	'	936	835	818	826	2,991	788	3,255	430	828	1,222	670	'	117	160	'	'	'	'	17	'	55	'	1,301	2,267	3,480	1,717	1,172	3,273	'	853	'	651	'	'	765	256	830	596	317	700	955	2,055	1,007	2,980	528	266	827	5,425	3,818	583	769	324	397	388	188	717	328	313	1,693	15,702	898	2	5	'	2,062	2,209	1,033	1,706	318	7	'	828	'	1,604	1,986	172	'	561	102	338	541	'	812	'	1,385	'	1,704	1,210	1,389	2,087	3,300	12	'	12	'	1,084	1,195	'	125	999	330	50	300	'	50	530	389	'	180	106	306	256	201	220	180	3,126	509	'	867	95	450	'	'	'	'	410	1,036	8,455	'	'	'	21	'	'	'	'	310	709	1,565	3,652	18,000	690	4,300	2,316	690	1,490	3,000	1,820	18,840	6,290	2,220
Buildings and Improvements	10,769,979	'	'	'	10,766,871	3,108	5,178,617	2,713,944	2,288,966	185,023	400,321	5,453	13,967	703	8,660	33,947	24,037	34,014	19,202	13,828	13,236	8,037	4,799	38,301	10,134	15,466	6,448	23,353	3,295	11,856	11,192	34,453	17,637	5,933	13,564	5,453	5,729	26,015	9,002	5,216	20,633	23,600	21,662	31,191	30,786	9,516	20,964	16,056	24,078	16,749	18,740	9,184	23,915	37,906	30,164	5,693	43,704	31,436	24,224	9,766	16,046	10,591	9,680	7,136	4,716	19,741	17,561	4,773	32,885	6,120	2,627	11,321	6,418	15,620	6,637	13,090	12,001	30,496	15,298	25,652	69,165	8,801	7,971	36,745	16,888	9,377	30,780	11,227	15,874	5,865	69,750	18,695	6,134	10,940	33,634	16,234	2,413	9,250	6,342	6,092	3,604	3,142	6,561	17,888	8,228	6,337	2,669	16,819	6,954	10,890	7,220	4,818	4,202	3,182	7,334	12,757	7,868	6,713	8,078	12,832	24,749	5,463	11,695	5,905	18,949	35,503	35,477	30,172	22,748	9,840	21,208	46,309	9,149	7,762	7,486	15,399	6,311	3,245	10,626	4,796	16,299	25,868	7,400	16,768	30,344	7,117	21,032	8,987	18,835	9,234	8,681	4,853	3,617	2,518	10,692	12,082	50,172	9,950	7,326	11,181	26,725	20,046	23,548	19,853	31,508	14,140	5,423	9,908	9,159	6,529	7,546	37,617	11,517	16,047	22,584	8,405	13,789	18,276	13,953	11,492	53,004	9,576	19,375	9,461	31,191	15,417	7,629	8,825	8,049	13,726	7,038	8,614	5,426	14,469	23,631	38,380	11,470	9,569	7,362	17,735	11,961	4,428	8,438	8,011	13,541	11,230	10,147	9,855	18,852	2,815	4,776	3,943	28,007	5,648	10,607	19,303	12,117	7,868	18,858	13,568	3,267	16,124	2,932	13,230	6,403	8,087	12,571	24,909	6,118	1,278	8,538	16,855	12,030	9,469	16,087	21,921	6,454	12,090	1,258	7,116	22,515	6,035	569	8,621	6,326	9,817	110,514	9,111	19,820	15,073	13,084	18,469	13,182	26,386	18,756	14,471	14,075	7,458	4,052	3,008	12,058	15,838	3,827	6,285	1,873	2,234	2,982	10,513	2,671	4,126	14,741	4,281	2,623	2,662	5,829	27,337	2,464	8,625	9,787	18,759	14,436	4,641	2,710	26,838	18,729	11,873	41,645	17,742	10,020	26,845	4,902	11,104	7,494	8,986	50,832	7,354	7,195	22,460	15,098	24,491	53,621	39,375	39,837	18,824	9,359	33,408	4,656	4,807	8,819	11,337	12,247	6,930	14,001	3,961	17,292	3,492	39,341	17,071	7,018	3,659	33,200	8,706	21,371	9,435	19,445	7,045	36,914	11,944	8,791	104,117	3,171	11,324	22,832	15,788	6,983	15,813	8,051	16,080	5,699	16,641	13,043	7,741	8,236	4,417	18,068	5,067	10,261	25,651	10,164	5,363	4,556	9,997	5,897	5,668	8,872	12,581	10,050	16,688	15,437	4,181	9,926	12,047	3,114	8,758	1,509	5,057	6,057	6,778	5,691	6,817	3,760	3,308	5,653	6,595	7,509	4,875	3,424	2,050	7,963	5,800	4,850	4,970	3,630	6,063	5,130	4,980	2,305	4,432	7,220	1,893	7,810	5,719	6,696	8,136	4,464	7,018	4,989	41,641	7,723	2,817	8,015	9,865	7,523	17,212	10,678	5,811	7,725	5,293	7,432	9,575	7,008	13,667	8,206	32,100	19,932	15,781	18,995	10,554	11,620	27,058	24,666	9,942	9,640	10,430	17,603	24,203	21,045	23,364	41,113	33,901	20,256	17,927	18,453	5,803	4,620	20,116	20,545	6,768	5,314	5,452	5,690	20,562	16,412	4,130	17,852	21,224	18,383	16,987	17,192	10,828	18,123	18,192	51,907	10,995	5,878	6,712	5,252	37,613	3,566	33,779	4,528	33,152	'	24,620	25,631	2,796	7,813	54,040	18,823	38,464	18,256	28,062	22,761	28,550	21,004	23,832	15,657	75,353	79,387	41,780	68,918	57,954	43,549	47,370	62,090	34,128	34,083	71,396	64,072	79,242	50,922	101,247	57,108	47,211	31,096	26,389	292	202	391	5,163	20,031	8,055	26,034	14,299	5,863	1,390	14,686	32,783	19,844	23,093	8,548	15,624	9,875	6,984	6,436	14,621	4,572	6,517	14,690	23,998	17,742	15,117	17,360	7,109	3,550	924	16,745	12,454	9,291	6,604	9,870	4,368	3,723	7,707	6,996	7,050	4,117	32,693	12,540	10,730	11,754	33,509	5,226	9,948	17,830	27,635	3,376	8,161	3,443	12,877	6,845	8,034	10,711	9,906	13,487	9,317	17,971	1,508	8,458	14,764	10,702	12,696	10,295	5,950	6,094	18,548	24,419	13,686	12,204	5,911	2,270	2,604	2,383	1,418	359	707	8,793	4,569	7,606	14,315	8,806	8,432	12,534	11,644	4,147	7,497	15,578	10,333	3,249	11,718	16,590	2,173	7,668	3,724	13,618	11,628	30,609	11,998	14,898	16,418	2,414	28,644	6,171	10,277	4,773	5,085	15,788	14,642	12,342	48,242	9,115	8,905	9,347	16,783	5,759	2,649	17,501	8,052	8,277	15,514	5,697	1,649	19,826	5,565	2,680	4,861	10,439	7,184	5,707	4,209	2,306	9,786	12,402	8,107	8,515	15,745	7,750	732	8,603	1,085	2,164	10,470	16,035	18,194	748	14,440	6,432	9,980	10,212	4,288	11,180	5,947	2,539	9,036	168,090	6,369	3,304	6,190	7,015	35,348	23,314	3,969	16,024	3,906	8,517	7,948	7,844	11,626	17,003	13,820	3,183	1,138	8,807	8,393	2,423	6,530	7,655	10,521	9,407	11,477	7,975	12,746	12,400	13,547	18,755	'	10,102	10,047	7,614	26,810	6,702	8,020	9,676	8,977	7,481	5,803	1,881	1,479	10,916	468	4,639	7,457	10,290	1,764	4,540	9,354	3,802	865	11,980	16,169	8,357	4,903	12,347	3,698	1,717	3,505	6,240	3,261	12,021	1,666	9,268	17,583	19,955	12,095	19,607	54,256	28,089	6,672	7,944	40,033	4,609	4,026	9,587	7,050	51,048	70,800	8,338	11,890	10,680	8,502	20,934	643	7,454	156,756	27,037	9,602
Total	12,592,841	12,524,224	10,616,690	9,670,490	12,589,733	3,108	5,788,409	3,651,630	2,484,926	198,865	465,903	5,760	16,013	813	9,937	36,587	26,387	43,886	25,024	21,725	17,506	9,217	5,153	44,311	12,770	17,426	8,683	28,443	4,113	13,202	13,552	36,183	19,837	7,204	21,784	6,185	6,164	32,767	11,162	6,221	23,113	25,412	22,354	37,575	36,416	15,499	24,591	19,056	26,728	18,779	23,770	9,749	25,825	40,716	32,692	6,568	47,071	34,448	25,302	13,509	17,704	10,757	12,043	8,666	5,636	24,471	19,976	6,043	35,435	6,690	4,877	15,177	6,858	18,081	7,487	14,110	13,222	33,746	16,885	29,172	72,085	10,897	8,641	41,565	18,350	11,717	33,830	12,057	16,940	6,375	73,216	20,026	6,830	11,740	35,669	16,934	2,803	10,043	7,029	8,761	4,166	3,678	8,548	18,289	8,965	6,705	3,250	17,726	7,985	11,704	8,124	5,805	5,429	3,446	8,098	14,683	8,379	7,215	8,275	13,630	27,453	5,742	13,399	5,986	19,461	39,293	38,953	34,292	25,371	10,244	23,933	51,209	10,249	8,262	8,683	16,543	6,476	3,541	11,439	6,712	18,392	27,381	7,688	17,389	34,965	10,293	24,962	11,425	20,530	9,843	10,097	5,621	4,247	2,598	12,973	13,095	50,959	10,050	8,246	12,774	28,301	24,407	25,292	22,353	32,885	16,143	5,923	10,160	9,869	8,581	8,158	40,155	12,708	16,732	23,440	8,879	14,813	19,068	14,958	13,912	57,688	10,618	22,532	10,382	35,471	17,201	8,529	9,592	10,273	14,880	7,656	9,451	7,386	15,136	31,748	43,595	13,727	10,235	7,963	18,461	12,439	5,028	9,408	8,821	13,839	12,299	10,842	11,049	19,967	3,227	5,587	5,287	30,123	5,904	11,736	19,303	12,726	8,179	19,940	14,221	3,697	17,188	3,550	14,005	6,868	8,669	13,076	28,112	7,492	1,768	9,141	18,744	13,645	11,146	16,087	23,150	7,005	13,132	1,611	8,087	23,639	6,562	617	8,874	6,326	10,397	126,975	9,640	22,450	16,963	13,534	19,719	14,572	29,626	19,806	14,834	14,971	7,870	4,307	3,247	13,148	16,844	3,976	7,113	2,980	2,855	3,066	11,413	2,874	4,921	15,660	4,784	2,819	2,882	7,996	29,812	3,762	9,738	11,102	19,571	15,880	5,141	3,010	28,153	20,731	14,413	44,605	20,715	10,165	28,049	5,952	12,174	7,934	11,106	53,662	7,754	8,030	24,930	16,118	26,452	63,441	47,545	42,747	19,809	10,069	34,867	5,799	5,327	9,689	12,246	12,752	7,520	15,234	4,691	20,172	3,701	42,761	17,940	7,193	4,049	37,980	9,143	24,025	10,118	23,765	10,878	44,192	13,034	11,019	115,711	3,778	13,434	25,192	16,834	7,933	19,550	8,809	17,498	6,458	19,925	14,043	8,944	12,445	4,846	19,869	5,316	11,851	29,681	11,705	6,266	5,069	11,495	6,454	6,021	9,593	12,763	10,884	17,489	18,611	7,461	10,634	12,962	3,613	10,187	1,677	5,257	6,557	7,184	5,821	7,017	3,900	3,338	5,903	6,825	7,604	5,067	3,829	2,253	9,263	7,100	5,100	5,100	4,000	6,313	5,250	5,100	2,548	4,682	7,971	2,202	8,016	6,254	7,282	8,558	5,163	7,337	5,594	92,630	38,023	26,292	8,915	11,365	9,423	19,412	11,678	6,817	8,402	5,954	8,619	10,764	8,254	15,188	9,418	41,748	26,208	23,072	27,741	13,135	14,306	34,624	31,166	14,742	13,849	14,030	25,103	34,003	27,945	30,364	55,213	41,001	20,256	23,753	24,431	14,457	21,766	50,059	27,245	10,175	7,820	9,059	8,797	25,380	21,830	7,136	23,870	23,136	21,095	19,699	19,404	13,440	21,423	21,492	60,179	15,625	7,918	10,663	10,955	49,313	10,090	40,779	11,712	41,552	5,200	32,495	31,510	3,680	15,439	82,640	27,823	56,464	23,156	36,062	32,861	36,550	24,704	34,532	22,657	89,153	93,887	51,180	80,818	67,954	52,849	58,370	75,290	44,628	44,683	85,496	76,872	90,442	58,122	115,647	68,208	57,472	37,396	37,298	3,892	2,502	4,291	12,280	30,412	15,458	36,134	46,509	11,558	2,600	79,586	41,172	20,292	25,013	9,048	16,514	10,065	7,614	6,561	14,621	4,852	6,517	14,690	23,998	19,198	18,786	17,360	8,159	4,330	1,204	21,536	12,454	9,291	6,604	9,870	4,368	3,723	7,707	6,996	7,376	4,384	32,819	19,059	11,308	14,626	36,369	8,235	13,016	22,541	30,545	5,311	9,621	5,161	20,738	9,198	9,417	12,867	9,906	13,697	9,517	17,971	1,521	9,016	14,764	10,702	12,696	10,295	6,029	6,099	18,548	24,419	13,694	12,448	5,944	2,275	2,604	2,838	1,616	1,147	1,193	8,793	6,076	9,159	18,707	8,806	10,720	12,560	11,644	5,158	8,588	15,578	12,474	3,249	11,818	16,590	2,622	7,668	4,254	13,618	12,564	31,444	12,816	15,724	19,409	3,202	31,899	6,601	11,105	5,995	5,755	15,788	14,759	12,502	48,242	9,115	8,905	9,347	16,800	5,759	2,704	17,501	9,353	10,544	18,994	7,414	2,821	23,099	5,565	3,533	4,861	11,090	7,184	5,707	4,974	2,562	10,616	12,998	8,424	9,215	16,700	9,805	1,739	11,583	1,613	2,430	11,297	21,460	22,012	1,331	15,209	6,756	10,377	10,600	4,476	11,897	6,275	2,852	10,729	183,792	7,267	3,306	6,195	7,015	37,410	25,523	5,002	17,730	4,224	8,524	7,948	8,672	11,626	18,607	15,806	3,355	1,138	9,368	8,495	2,761	7,071	7,655	11,333	9,407	12,862	7,975	14,450	13,610	14,936	20,842	3,300	10,114	10,047	7,626	26,810	7,786	9,215	9,676	9,102	8,480	6,133	1,931	1,779	10,916	518	5,169	7,846	10,290	1,944	4,646	9,660	4,058	1,066	12,200	16,349	11,483	5,412	12,347	4,565	1,812	3,955	6,240	3,261	12,021	1,666	9,678	18,619	28,410	12,095	19,607	54,256	28,110	6,672	7,944	40,033	4,609	4,336	10,296	8,615	54,700	88,800	9,028	16,190	12,996	9,192	22,424	3,643	9,274	175,596	33,327	11,822
Accumulated Depreciation	($1,965,592)	($1,694,892)	($1,408,310)	($1,188,539)	($1,963,001)	($2,591)	($758,223)	($448,888)	($584,233)	($65,316)	($106,341)	($988)	($2,616)	($285)	($371)	($3,890)	($8,213)	($6,543)	($3,500)	($2,541)	($2,344)	($2,030)	($177)	($8,043)	($357)	($3,254)	($1,170)	($4,914)	($135)	($396)	($2,355)	($3,625)	($3,711)	($1,091)	($2,235)	($2,384)	($2,437)	($4,733)	($1,713)	($947)	($4,342)	($4,277)	($657)	($5,708)	($5,630)	($1,766)	($3,823)	($3,372)	($2,978)	($3,525)	($3,409)	($346)	($4,352)	($12,500)	($5,503)	($233)	($7,127)	($5,710)	($745)	($382)	($563)	($2,294)	($1,808)	($1,961)	($977)	($4,689)	($2,923)	($1,293)	($3,716)	($942)	($721)	($3,490)	($1,329)	($2,600)	($1,610)	($2,481)	($2,175)	($8,782)	($2,773)	($6,342)	($8,000)	($1,907)	($1,651)	($3,690)	($3,104)	($2,032)	($3,475)	($2,673)	($312)	($1,592)	($18,886)	($3,388)	($2,116)	($2,074)	($6,093)	($1,777)	($321)	($1,631)	($1,034)	($1,113)	($143)	($124)	($268)	($507)	($295)	($203)	($129)	($3,049)	($280)	($324)	($1,323)	($196)	($188)	($125)	($250)	($434)	($1,426)	($1,217)	($299)	($2,326)	($4,132)	($867)	($2,142)	($1,070)	($3,136)	($4,165)	($5,778)	($3,556)	($4,129)	($1,784)	($3,626)	($5,276)	($1,658)	($2,445)	($1,357)	($2,394)	($2,263)	($278)	($1,926)	($888)	($5,159)	($4,739)	($279)	($476)	($5,560)	($1,293)	($3,848)	($1,638)	($3,419)	($1,681)	($1,662)	($1,550)	($975)	($675)	($1,938)	($2,265)	($15,915)	($1,661)	($2,582)	($2,027)	($774)	($3,633)	($4,268)	($5,018)	($1,079)	($458)	($1,062)	($310)	($1,622)	($855)	($1,407)	($1,134)	($2,081)	($517)	($714)	($365)	($598)	($678)	($474)	($1,448)	($9,613)	($2,075)	($3,519)	($2,050)	($5,704)	($2,817)	($2,468)	($3,253)	($297)	($480)	($294)	($373)	($1,142)	($556)	($4,481)	($6,972)	($413)	($341)	($268)	($668)	($445)	($1,560)	($1,608)	($1,697)	($2,322)	($1,826)	($1,838)	($1,797)	($577)	($135)	($883)	($171)	($873)	($205)	($1,937)	($632)	($383)	($199)	($581)	($426)	($134)	($466)	($182)	($409)	($206)	($171)	($407)	($1,210)	($266)	($72)	($300)	($520)	($353)	($359)	($450)	($606)	($148)	($424)	($58)	($287)	($663)	($221)	($35)	($302)	($286)	($225)	($20,413)	($355)	($2,331)	($1,731)	($1,567)	($2,259)	($1,555)	($3,036)	($2,308)	($2,663)	($2,602)	($1,380)	($176)	($970)	($2,135)	($2,865)	($165)	($260)	($99)	($110)	($877)	($1,862)	($841)	($835)	($506)	($164)	($846)	($130)	($224)	($857)	($134)	($301)	($298)	($2,733)	($449)	($961)	($514)	($824)	($3,118)	($2,201)	($14,229)	($3,213)	($3,768)	($825)	($929)	($2,105)	($1,697)	($324)	($17,367)	($1,879)	($2,551)	($7,632)	($2,773)	($4,495)	($6,683)	($4,692)	($4,797)	($585)	($2,139)	($1,082)	($195)	($911)	($1,911)	($353)	($2,249)	($253)	($506)	($1,034)	($3,125)	($135)	($4,537)	($3,143)	($2,016)	($694)	($3,933)	($280)	($3,886)	($315)	($3,648)	($1,277)	($6,734)	($2,115)	($1,629)	($19,524)	($2,140)	($2,099)	($4,186)	($476)	($2,365)	($2,874)	($299)	($2,923)	($263)	($514)	($2,745)	($1,385)	($1,593)	($223)	($603)	($162)	($2,159)	($5,322)	($1,834)	($233)	($187)	($321)	($202)	($175)	($326)	($395)	($362)	($305)	($652)	($219)	($281)	($404)	($3,114)	($8,589)	($852)	($2,239)	($2,217)	'	($1,309)	($2,113)	($1,522)	($1,253)	($1,589)	($2,402)	($1,971)	($1,083)	($1,904)	($1,140)	($1,732)	($2,348)	($1,963)	($2,012)	($1,469)	($1,863)	($2,076)	($2,016)	($1,296)	($1,941)	($1,751)	($730)	($1,871)	($1,386)	($1,622)	($1,969)	($1,083)	($1,681)	($1,210)	'	'	'	($1,322)	($1,900)	($1,394)	($2,762)	($3,002)	($1,720)	($1,357)	($652)	($1,695)	($2,196)	($2,000)	($3,141)	($1,731)	($5,184)	($3,232)	($4,441)	($4,046)	($1,055)	($1,269)	($4,362)	($3,971)	($1,669)	($2,087)	($2,284)	($2,841)	($3,910)	($3,274)	($6,429)	($10,871)	($8,765)	($625)	($5,547)	($4,658)	'	'	'	($6,801)	($1,750)	($1,369)	($1,159)	($1,153)	($3,342)	($2,585)	($1,052)	($3,209)	($1,783)	($1,612)	($2,370)	($3,342)	($2,099)	($2,901)	($2,885)	($13,568)	($2,235)	($694)	($2,960)	($1,327)	($6,987)	'	($5,419)	($941)	($5,317)	'	($3,852)	($2,585)	($280)	($1,072)	($11,427)	($2,987)	($6,138)	($2,921)	($4,459)	($3,671)	($4,558)	($3,386)	($3,837)	($2,498)	($9,209)	($9,638)	($4,170)	($11,049)	($9,297)	($6,986)	($7,615)	($9,285)	($5,480)	($5,468)	($11,452)	($10,340)	($12,711)	($8,167)	($16,231)	($10,722)	($8,446)	($5,955)	($6,703)	($94)	($100)	($200)	($948)	($1,712)	($713)	($4,010)	'	($5,892)	($1,293)	'	($149)	($42)	($315)	($3,165)	($5,091)	($2,765)	($2,334)	($1,788)	($3,562)	($1,157)	($1,719)	($2,507)	($2,485)	($2,220)	($3,779)	($606)	($1,922)	($1,466)	($263)	($3,705)	($857)	($726)	($407)	($561)	($327)	($220)	($456)	($411)	($2,536)	($901)	($6,126)	($3,253)	($4,347)	($5,286)	($6,105)	($2,689)	($5,325)	($8,952)	($4,808)	($1,339)	($2,398)	($792)	($4,373)	($2,896)	($1,629)	($4,369)	($3,379)	($2,811)	($2,268)	($4,844)	($317)	($1,977)	($3,061)	($2,935)	($3,657)	($2,918)	($1,676)	($1,589)	($4,715)	($5,026)	($2,660)	($3,400)	($2,612)	($949)	($1,053)	($570)	($384)	($135)	($203)	($2,151)	($938)	($1,662)	($3,797)	($1,623)	($2,984)	($3,652)	($2,132)	($1,204)	($1,536)	($3,277)	($3,613)	($596)	($2,243)	($2,781)	($96)	($309)	($1,080)	($2,816)	($7,770)	($7,516)	($5,658)	($3,944)	($4,962)	($290)	($2,864)	($613)	($2,338)	($1,133)	($2,131)	($4,140)	($6,658)	($5,442)	($1,380)	($1,841)	($1,617)	($2,010)	($3,190)	($1,306)	($1,126)	($4,508)	($3,077)	($2,347)	($4,536)	($2,049)	($1,649)	($7,078)	($217)	($689)	($1,936)	($1,881)	($2,571)	($2,239)	($1,882)	($711)	($2,807)	($3,719)	($2,599)	($2,477)	($4,034)	($1,986)	($218)	($2,136)	($277)	($548)	($2,656)	($4,141)	($4,935)	($115)	($3,569)	($2,087)	($2,132)	($1,893)	($956)	($3,228)	($1,581)	($801)	($2,459)	($34,689)	($1,703)	($1,150)	($1,310)	($1,299)	($14,413)	($14,568)	($1,137)	($4,258)	($1,032)	($2,258)	($2,147)	($1,905)	($3,212)	($3,160)	($2,490)	($871)	($18)	($1,962)	($3,736)	($1,048)	($1,940)	($1,923)	($2,257)	($1,813)	($541)	($2,047)	($3,770)	($2,976)	($3,167)	($5,551)	'	($2,655)	($2,514)	($911)	($2,767)	($1,718)	($2,425)	($1,940)	($3,804)	($863)	($2,375)	($816)	($678)	($396)	($221)	($1,275)	($2,773)	($363)	($777)	($1,081)	($4,512)	($1,592)	($372)	($5,008)	($6,844)	($2,697)	($1,473)	($428)	($274)	($755)	($1,020)	($2,514)	($1,233)	($413)	($101)	($3,251)	($7,467)	($5,363)	($3,284)	($7,973)	($13,413)	($7,600)	($5,451)	($2,471)	($8,726)	($177)	($786)	($4,899)	($3,690)	($11,509)	($28,663)	($4,238)	($4,062)	($5,789)	($2,075)	($3,751)	'	($1,273)	($30,155)	($6,128)	($109)
Life on Which Depreciation in Latest Income Statement is Computed	'	'	'	'	'	'	'	'	'	'	'	'40 years	'39 years	'35 years	'45 years	'30 years	'30 years	'40 years	'40 years	'40 years	'40 years	'29 years	'45 years	'40 years	'45 years	'39 years	'40 years	'40 years	'50 years	'45 years	'40 years	'30 years	'39 years	'40 years	'45 years	'35 years	'35 years	'40 years	'40 years	'40 years	'40 years	'40 years	'45 years	'40 years	'40 years	'40 years	'40 years	'40 years	'30 years	'40 years	'40 years	'45 years	'40 years	'30 years	'40 years	'45 years	'40 years	'40 years	'50 years	'45 years	'45 years	'40 years	'40 years	'40 years	'35 years	'30 years	'40 years	'40 years	'30 years	'30 years	'40 years	'40 years	'35 years	'40 years	'43 years	'40 years	'40 years	'35 years	'40 years	'30 years	'30 years	'40 years	'35 years	'30 years	'40 years	'40 years	'30 years	'35 years	'45 years	'35 years	'34 years	'40 years	'45 years	'40 years	'40 years	'35 years	'30 years	'40 years	'40 years	'40 years	'45 years	'45 years	'45 years	'50 years	'45 years	'45 years	'45 years	'40 years	'40 years	'45 years	'40 years	'45 years	'45 years	'45 years	'45 years	'45 years	'40 years	'40 years	'45 years	'40 years	'25 years	'40 years	'40 years	'40 years	'40 years	'30 years	'40 years	'30 years	'40 years	'40 years	'25 years	'30 years	'40 years	'45 years	'40 years	'40 years	'35 years	'30 years	'40 years	'40 years	'30 years	'40 years	'45 years	'50 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'45 years	'40 years	'40 years	'40 years	'40 years	'29 years	'40 years	'35 years	'40 years	'50 years	'40 years	'40 years	'30 years	'45 years	'45 years	'40 years	'45 years	'40 years	'40 years	'40 years	'50 years	'40 years	'45 years	'45 years	'40 years	'40 years	'40 years	'45 years	'25 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'45 years	'45 years	'45 years	'40 years	'45 years	'45 years	'40 years	'45 years	'40 years	'40 years	'50 years	'45 years	'45 years	'45 years	'45 years	'35 years	'40 years	'36 years	'40 years	'40 years	'40 years	'40 years	'45 years	'45 years	'40 years	'45 years	'45 years	'45 years	'40 years	'45 years	'45 years	'45 years	'50 years	'45 years	'50 years	'50 years	'50 years	'45 years	'50 years	'45 years	'50 years	'45 years	'45 years	'50 years	'45 years	'50 years	'50 years	'45 years	'50 years	'50 years	'45 years	'45 years	'50 years	'45 years	'50 years	'45 years	'45 years	'45 years	'45 years	'45 years	'40 years	'45 years	'30 years	'30 years	'30 years	'30 years	'30 years	'30 years	'30 years	'40 years	'40 years	'40 years	'45 years	'45 years	'40 years	'40 years	'45 years	'45 years	'45 years	'45 years	'45 years	'40 years	'45 years	'40 years	'45 years	'45 years	'45 years	'45 years	'45 years	'45 years	'45 years	'45 years	'45 years	'40 years	'45 years	'35 years	'39 years	'45 years	'40 years	'40 years	'30 years	'25 years	'45 years	'45 years	'40 years	'40 years	'40 years	'45 years	'30 years	'45 years	'45 years	'35 years	'40 years	'40 years	'30 years	'30 years	'30 years	'45 years	'35 years	'45 years	'45 years	'40 years	'35 years	'45 years	'40 years	'45 years	'45 years	'45 years	'25 years	'45 years	'30 years	'40 years	'43 years	'40 years	'30 years	'45 years	'40 years	'45 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'35 years	'40 years	'40 years	'45 years	'45 years	'40 years	'45 years	'40 years	'40 years	'45 years	'40 years	'40 years	'40 years	'50 years	'45 years	'45 years	'40 years	'39 years	'40 years	'45 years	'45 years	'45 years	'50 years	'45 years	'45 years	'45 years	'40 years	'45 years	'45 years	'45 years	'50 years	'45 years	'25 years	'24 years	'25 years	'35 years	'35 years	'	'35 years	'38 years	'35 years	'35 years	'45 years	'35 years	'45 years	'40 years	'25 years	'25 years	'35 years	'35 years	'35 years	'35 years	'35 years	'35 years	'35 years	'35 years	'25 years	'35 years	'40 years	'25 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'	'	'	'40 years	'40 years	'40 years	'40 years	'40 years	'29 years	'29 years	'29 years	'29 years	'29 years	'29 years	'29 years	'29 years	'40 years	'40 years	'27 years	'30 years	'30 years	'30 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'	'	'	'40 years	'40 years	'40 years	'30 years	'31 years	'31 years	'31 years	'40 years	'40 years	'39 years	'39 years	'40 years	'38 years	'26 years	'40 years	'40 years	'39 years	'31 years	'40 years	'40 years	'40 years	'40 years	'	'40 years	'30 years	'40 years	'	'38 years	'30 years	'30 years	'33 years	'35 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'40 years	'5 years	'5 years	'5 years	'40 years	'40 years	'40 years	'40 years	'	'5 years	'5 years	'	'	'	'	'33 years	'38 years	'43 years	'38 years	'43 years	'43 years	'43 years	'35 years	'40 years	'33 years	'	'40 years	'45 years	'43 years	'32 years	'43 years	'40 years	'25 years	'25 years	'25 years	'25 years	'25 years	'25 years	'25 years	'25 years	'35 years	'43 years	'40 years	'33 years	'33 years	'35 years	'	'21 years	'21 years	'21 years	'22 years	'37 years	'37 years	'34 years	'22 years	'35 years	'40 years	'32 years	'39 years	'40 years	'33 years	'40 years	'40 years	'33 years	'35 years	'35 years	'35 years	'35 years	'35 years	'38 years	'39 years	'37 years	'40 years	'43 years	'35 years	'34 years	'32 years	'34 years	'34 years	'34 years	'34 years	'36 years	'34 years	'34 years	'34 years	'40 years	'37 years	'44 years	'45 years	'34 years	'36 years	'	'25 years	'40 years	'40 years	'40 years	'35 years	'40 years	'45 years	'40 years	'11 years	'37 years	'18 years	'38 years	'30 years	'25 years	'30 years	'30 years	'40 years	'34 years	'35 years	'40 years	'32 years	'35 years	'45 years	'40 years	'40 years	'40 years	'40 years	'39 years	'35 years	'40 years	'34 years	'34 years	'34 years	'34 years	'	'	'40 years	'40 years	'35 years	'40 years	'40 years	'35 years	'35 years	'34 years	'35 years	'37 years	'37 years	'19 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'34 years	'31 years	'34 years	'34 years	'34 years	'34 years	'34 years	'35 years	'34 years	'25 years	'40 years	'40 years	'35 years	'17 years	'34 years	'34 years	'35 years	'36 years	'40 years	'34 years	'34 years	'40 years	'40 years	'39 years	'39 years	'34 years	'45 years	'45 years	'36 years	'40 years	'37 years	'40 years	'30 years	'40 years	'20 years	'34 years	'36 years	'40 years	'	'35 years	'35 years	'30 years	'30 years	'34 years	'40 years	'37 years	'45 years	'30 years	'45 years	'35 years	'35 years	'45 years	'35 years	'43 years	'35 years	'45 years	'35 years	'40 years	'35 years	'35 years	'35 years	'35 years	'35 years	'38 years	'37 years	'45 years	'20 years	'35 years	'45 years	'35 years	'35 years	'45 years	'20 years	'35 years	'35 years	'28 years	'43 years	'35 years	'39 years	'36 years	'10 years	'33 years	'30 years	'40 years	'40 years	'45 years	'45 years	'40 years	'35 years	'45 years	'40 years	'45 years	'40 years	'40 years	'	'40 years	'35 years	'25 years	'35 years

Schedule_III_Real_Estate_and_A2

Schedule III - Real Estate and Accumulated Depreciation (Details 2) (USD $)	Dec. 31, 2013
In Billions, unless otherwise specified	Dec. 31, 2013
Schedule III: Real Estate and Accumulated Depreciation	'
Amount that the tax basis of the Company's net real estate is less than the reported amounts	$1.60

Schedule_III_Real_Estate_and_A3

Schedule III - Real Estate and Accumulated Depreciation (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real estate:	'	'	'
Balances at beginning of year	$12,524,224	$10,616,690	$9,670,490
Acquisition of real estate and development and improvements	257,189	1,941,091	1,049,723
Disposition of real estate	-78,151	-148,752	-21,737
Impairments	'	-7,878	'
Balances associated with changes in reporting presentation	-110,421	123,073	-81,786
Balances at end of year	12,592,841	12,524,224	10,616,690
Accumulated depreciation:	'	'	'
Balances at beginning of year	1,694,892	1,408,310	1,188,539
Depreciation expense	353,344	302,332	294,480
Disposition of real estate	-38,447	-32,942	-5,705
Balances associated with changes in reporting presentation	-44,197	17,192	-69,004
Balances at end of year	$1,965,592	$1,694,892	$1,408,310