Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 29, 2016 | Jun. 30, 2015 | |
Document and Entity Information | |||
Entity Registrant Name | HCP, INC. | ||
Entity Central Index Key | 765,880 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
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 | $ 14.6 | ||
Entity Common Stock, Shares Outstanding | 465,531,737 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Real estate: | ||
Buildings and improvements | $ 12,501,511 | $ 10,972,973 |
Development costs and construction in progress | 390,584 | 275,233 |
Land | 1,995,657 | 1,889,438 |
Accumulated depreciation and amortization | (2,605,036) | (2,250,757) |
Net real estate | 12,282,716 | 10,886,887 |
Carrying value of direct financing leases | 5,905,009 | 7,280,334 |
Loans receivable, net | 768,743 | 906,961 |
Investments in and advances to unconsolidated joint ventures | 605,244 | 605,448 |
Accounts receivable, net of allowance of $3,683 and $3,785, respectively | 48,929 | 36,339 |
Cash and cash equivalents | 346,500 | 183,810 |
Restricted cash | 60,616 | 48,976 |
Intangible assets, net | 614,227 | 481,013 |
Other assets, net | 817,865 | 901,668 |
Total assets | 21,449,849 | 21,331,436 |
LIABILITIES AND EQUITY | ||
Bank line of credit | 397,432 | 838,516 |
Term loan | 524,807 | 212,986 |
Senior unsecured notes | 9,120,107 | 7,589,960 |
Mortgage debt | 932,212 | 982,785 |
Other debt | 94,445 | 97,022 |
Intangible liabilities, net | 75,273 | 84,723 |
Accounts payable and accrued liabilities | 436,239 | 432,934 |
Deferred revenue | 123,017 | 95,411 |
Total liabilities | $ 11,703,532 | $ 10,334,337 |
Commitments and contingencies | ||
Common stock, $1.00 par value: 750,000,000 shares authorized; 465,488,492 and 459,746,267 shares issued and outstanding, respectively | $ 465,488 | $ 459,746 |
Additional paid-in capital | 11,647,039 | 11,431,987 |
Cumulative dividends in excess of earnings | (2,738,414) | (1,132,541) |
Accumulated other comprehensive loss | (30,470) | (23,895) |
Total stockholders' equity | 9,343,643 | 10,735,297 |
Joint venture partners | 217,066 | 73,214 |
Non-managing member unitholders | 185,608 | 188,588 |
Total noncontrolling interests | 402,674 | 261,802 |
Total equity | 9,746,317 | 10,997,099 |
Total liabilities and equity | $ 21,449,849 | $ 21,331,436 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Company's involvement with VIEs: | ||
Land | $ 1,995,657 | $ 1,889,438 |
Accumulated depreciation and amortization | 2,605,036 | 2,250,757 |
Accounts Receivable | 48,929 | 36,339 |
Cash and cash equivalents | 346,500 | 183,810 |
Restricted cash | 60,616 | 48,976 |
Intangible assets, net | 614,227 | 481,013 |
Intangible Assets, Net (Excluding Goodwill) | 614,227 | 481,013 |
Other assets, net | 817,865 | 901,668 |
Accounts payable and accrued liabilities | 436,239 | 432,934 |
Deferred Revenue | 123,017 | 95,411 |
Balance Sheet Parenthetical Disclosures | ||
Accounts receivable, allowance (in dollars) | $ 3,261 | $ 3,785 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 465,488,492 | 459,746,267 |
Common stock, shares outstanding | 465,488,492 | 459,746,267 |
VIEs | ||
Company's involvement with VIEs: | ||
Buildings and improvements | $ 791,000 | $ 677,000 |
Land | 125,000 | 113,000 |
Accumulated depreciation and amortization | 135,000 | 111,000 |
Accounts Receivable | 16,000 | 5,000 |
Cash and cash equivalents | 35,000 | 42,000 |
Restricted cash | 18,000 | |
Other assets, net | 20,000 | 23,000 |
Accounts payable and accrued liabilities | 60,000 | 34,000 |
Deferred Revenue | $ 14,000 | $ 12,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues: | |||
Rental and related revenues | $ 1,144,482 | $ 1,174,256 | $ 1,128,054 |
Tenant recoveries | 126,485 | 110,688 | 100,649 |
Resident fees and services | 525,453 | 241,965 | 146,288 |
Income from direct financing leases | 633,835 | 663,070 | 636,881 |
Interest income | 112,184 | 74,491 | 86,159 |
Investment management fee income | 1,873 | 1,809 | 1,847 |
Total revenues | 2,544,312 | 2,266,279 | 2,099,878 |
Costs and expenses: | |||
Interest expense | 479,596 | 439,742 | 435,252 |
Depreciation and amortization | 510,785 | 459,995 | 423,312 |
Operating | 614,375 | 384,603 | 298,282 |
General and administrative | 96,022 | 82,175 | 103,042 |
Acquisition and pursuit costs | 27,309 | 17,142 | 6,191 |
Impairments (recoveries) | 1,403,853 | ||
Total costs and expenses | 3,131,940 | 1,383,657 | 1,266,079 |
Other (expense) income: | |||
Gain on sales of real estate, net of income taxes | 6,377 | 3,288 | |
Other income, net | 14,404 | 7,528 | 18,216 |
Total other income, net | 20,781 | 10,816 | 18,216 |
(Loss) income before income taxes and equity income from and impairment of unconsolidated joint ventures | (566,847) | 893,438 | 852,015 |
Income tax benefit (expense) | 9,011 | (250) | (5,815) |
Equity income from unconsolidated joint ventures | 57,313 | 49,570 | 64,433 |
Impairments of investments in unconsolidated joint ventures | (45,895) | (35,913) | |
(Loss) income from continuing operations | (546,418) | 906,845 | 910,633 |
Discontinued operations: | |||
Income before impairment losses and gain on sales of real estate, net of income taxes | 1,736 | 5,879 | |
Impairment losses on real estate | (1,372) | ||
Gain on sales of real estate, net of income taxes | 28,010 | 69,866 | |
Total discontinued operations | 29,746 | 74,373 | |
Net (loss) income | (546,418) | 936,591 | 985,006 |
Noncontrolling interests' share in earnings | (12,817) | (14,358) | (14,169) |
Net (loss) income attributable to HCP, Inc. | (559,235) | 922,233 | 970,837 |
Participating securities' share in earnings | (1,317) | (2,437) | (1,734) |
Net (loss) income applicable to common shares | $ (560,552) | $ 919,796 | $ 969,103 |
Basic earnings per common share: | |||
Continuing operations (in dollars per share) | $ (1.21) | $ 1.94 | $ 1.97 |
Discontinued operations (in dollars per share) | 0.07 | 0.16 | |
Net (loss) income applicable to common shares (in dollars per share) | (1.21) | 2.01 | 2.13 |
Diluted earnings per common share: | |||
Continuing operations (in dollars per share) | (1.21) | 1.94 | 1.97 |
Discontinued operations (in dollars per share) | 0.06 | 0.16 | |
Net (loss) income applicable to common shares (in dollars per share) | $ (1.21) | $ 2 | $ 2.13 |
Weighted average shares used to calculate earnings per common share: | |||
Basic (in shares) | 462,795 | 458,425 | 455,002 |
Diluted (in shares) | 462,795 | 458,796 | 455,702 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Net (loss) income | $ (546,418) | $ 936,591 | $ 985,006 |
Change in net unrealized (losses) gains on securities: | |||
Unrealized (losses) gains | (5) | 13 | 1,355 |
Reclassification adjustment realized in net income | (9,131) | ||
Change in net unrealized gains on cash flow hedges: | |||
Unrealized gains | 1,894 | 2,258 | 6,435 |
Reclassification adjustment realized in net income | 148 | (1,085) | 1,220 |
Change in Supplemental Executive Retirement Plan obligation | 126 | (627) | 240 |
Foreign currency translation adjustment | (8,738) | (9,967) | 47 |
Total other comprehensive (loss) income | (6,575) | (9,408) | 166 |
Total comprehensive (loss) income | (552,993) | 927,183 | 985,172 |
Total comprehensive income attributable to noncontrolling interests | (12,817) | (14,358) | (14,169) |
Total comprehensive (loss) income attributable to HCP, Inc. | $ (565,810) | $ 912,825 | $ 971,003 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands | Total Stockholders' Equity | Common Stock | Additional Paid-In Capital | Cumulative Dividends In Excess Of Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interests | Total |
Balance at Dec. 31, 2012 | $ 10,551,237 | $ 453,191 | $ 11,180,066 | $ (1,067,367) | $ (14,653) | $ 202,540 | $ 10,753,777 |
Balance (in shares) at Dec. 31, 2012 | 453,191 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net (loss) income | 970,837 | 970,837 | 14,169 | 985,006 | |||
Other comprehensive income | 166 | 166 | 166 | ||||
Issuance of common stock, net | 110,701 | $ 3,136 | 107,565 | (3,683) | 107,018 | ||
Issuance of common stock, net (in shares) | 3,136 | ||||||
Repurchase of common stock | (10,438) | $ (242) | (10,196) | (10,438) | |||
Repurchase of common stock (in shares) | (242) | ||||||
Exercise of stock options | 17,502 | $ 876 | 16,626 | 17,502 | |||
Exercise of stock options (in shares) | 876 | ||||||
Amortization of deferred compensation | 39,980 | 39,980 | 39,980 | ||||
Common dividends ($2.26, $2.18 and $2.10 per share for the year ended 2015, 2014 and 2013, 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 | 10,723,300 | $ 456,961 | 11,334,041 | (1,053,215) | (14,487) | 207,834 | 10,931,134 |
Balance (in shares) at Dec. 31, 2013 | 456,961 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net (loss) income | 922,233 | 922,233 | 14,358 | 936,591 | |||
Other comprehensive income | (9,408) | (9,408) | (9,408) | ||||
Issuance of common stock, net | 92,688 | $ 2,939 | 89,749 | (557) | 92,131 | ||
Issuance of common stock, net (in shares) | 2,939 | ||||||
Repurchase of common stock | (12,703) | $ (323) | (12,380) | (12,703) | |||
Repurchase of common stock (in shares) | (323) | ||||||
Exercise of stock options | 4,461 | $ 169 | 4,292 | 4,461 | |||
Exercise of stock options (in shares) | 169 | ||||||
Amortization of deferred compensation | 21,885 | 21,885 | 21,885 | ||||
Common dividends ($2.26, $2.18 and $2.10 per share for the year ended 2015, 2014 and 2013, respectively) | (1,001,559) | (1,001,559) | (1,001,559) | ||||
Distributions to noncontrolling interests | (15,611) | (15,611) | |||||
Issuance of noncontrolling interests | 57,746 | 57,746 | |||||
Purchase of noncontrolling interests | (5,600) | (5,600) | (1,968) | (7,568) | |||
Balance at Dec. 31, 2014 | 10,735,297 | $ 459,746 | 11,431,987 | (1,132,541) | (23,895) | 261,802 | 10,997,099 |
Balance (in shares) at Dec. 31, 2014 | 459,746 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net (loss) income | (559,235) | (559,235) | 12,817 | (546,418) | |||
Other comprehensive income | (6,575) | (6,575) | (6,575) | ||||
Issuance of common stock, net | 182,067 | $ 5,117 | 176,950 | (3,183) | $ 178,884 | ||
Issuance of common stock, net (in shares) | 5,117 | 1,800 | |||||
Repurchase of common stock | (8,738) | $ (198) | (8,540) | $ (8,738) | |||
Repurchase of common stock (in shares) | (198) | ||||||
Exercise of stock options | 27,587 | $ 823 | 26,764 | 27,587 | |||
Exercise of stock options (in shares) | 823 | ||||||
Amortization of deferred compensation | 26,127 | 26,127 | 26,127 | ||||
Common dividends ($2.26, $2.18 and $2.10 per share for the year ended 2015, 2014 and 2013, respectively) | (1,046,638) | (1,046,638) | (1,046,638) | ||||
Distributions to noncontrolling interests | (263) | (263) | (18,884) | (19,147) | |||
Issuance of noncontrolling interests | 151,185 | 151,185 | |||||
Purchase of noncontrolling interests | (5,986) | (5,986) | (1,063) | (7,049) | |||
Balance at Dec. 31, 2015 | $ 9,343,643 | $ 465,488 | $ 11,647,039 | $ (2,738,414) | $ (30,470) | $ 402,674 | $ 9,746,317 |
Balance (in shares) at Dec. 31, 2015 | 465,488 |
CONSOLIDATED STATEMENTS OF EQU7
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares | Jan. 28, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
CONSOLIDATED STATEMENTS OF EQUITY | ||||
Common dividends, per share (in dollars per share) | $ 0.575 | $ 2.26 | $ 2.18 | $ 2.10 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (546,418) | $ 936,591 | $ 985,006 |
Continuing operations | 510,785 | 459,995 | 423,312 |
Discontinued operations | 5,862 | ||
Amortization of market lease intangibles, net | (1,295) | (949) | (6,646) |
Amortization of deferred compensation | 26,127 | 21,885 | 39,980 |
Amortization of deferred financing costs, net | 20,222 | 19,260 | 18,541 |
Straight-line rents | (28,859) | (41,032) | (39,587) |
Loan and direct financing lease interest accretion | (95,713) | (78,286) | (86,314) |
Deferred rental revenues | (2,813) | (1,884) | (2,843) |
Equity income from unconsolidated joint ventures | (57,313) | (49,570) | (64,433) |
Distributions of earnings from unconsolidated joint ventures | 15,111 | 5,045 | 3,989 |
Lease termination income, net | (1,103) | (38,001) | |
Gain on sales of real estate | (6,377) | (31,298) | (69,866) |
Foreign exchange and other gains, net | (7,178) | (2,270) | (10,817) |
Impairments, net | 1,449,748 | 35,913 | 1,372 |
Changes in: | |||
Accounts receivable, net | (9,569) | (8,845) | 6,656 |
Other assets | (19,453) | (6,287) | (58,290) |
Accounts payable and other accrued liabilities | (23,757) | 28,354 | 3,065 |
Net cash provided by operating activities | 1,222,145 | 1,248,621 | 1,148,987 |
Cash flows from investing activities: | |||
Acquisition of RIDEA III, net | (770,325) | ||
Acquisition of the CCRC unconsolidated joint venture interest, net | (370,186) | ||
Acquisitions of other real estate | (613,252) | (503,470) | (64,678) |
Development of real estate | (281,017) | (178,513) | (130,317) |
Leasing costs and tenant and capital improvements | (84,282) | (71,734) | (64,557) |
Proceeds from sales and pending sales of real estate, net | 58,623 | 104,557 | 95,816 |
Contributions to unconsolidated joint ventures | (69,936) | (2,935) | |
Distributions in excess of earnings from unconsolidated joint ventures | 30,989 | 2,657 | 14,102 |
Purchases of marketable securities | (16,706) | ||
Proceeds from sales of marketable securities | 2,348 | 28,403 | |
Principal repayments on loans receivable and direct financing leases | 625,701 | 119,511 | 263,445 |
Investments in loans receivable and other | (575,652) | (600,019) | (322,775) |
Decrease (increase) in restricted cash | 4,798 | (11,747) | 619 |
Net cash used in investing activities | (1,672,005) | (1,511,879) | (196,648) |
Cash flows from financing activities: | |||
Net borrowings under bank line of credit | 98,743 | 845,190 | |
Repayments under bank line of credit | (511,521) | ||
Borrowings under term loan | 333,014 | ||
Issuance of senior unsecured notes | 1,936,017 | 1,150,000 | 800,000 |
Repayments of senior unsecured notes | (400,000) | (487,000) | (550,000) |
Issuance of mortgage and other debt | 35,445 | 6,798 | |
Repayments of mortgage and other debt | (57,845) | (447,784) | (302,119) |
Deferred financing costs | (19,995) | (16,550) | (7,300) |
Issuance of common stock and exercise of options | 206,471 | 96,592 | 114,082 |
Repurchase of common stock | (8,738) | (12,703) | |
Dividends paid on common stock | (1,046,638) | (1,001,559) | (956,685) |
Issuance of noncontrolling interests | 110,775 | 4,674 | 12,472 |
Purchase of noncontrolling interests | (7,049) | (5,897) | |
Distributions to noncontrolling interests | (19,147) | (15,611) | (17,664) |
Net cash provided by (used in) financing activities | 614,087 | 144,797 | (900,416) |
Effect of foreign exchange on cash and cash equivalents | (1,537) | 1,715 | 960 |
Net increase (decrease) in cash and cash equivalents | 162,690 | (116,746) | 52,883 |
Cash and cash equivalents, beginning of year | 183,810 | 300,556 | 247,673 |
Cash and cash equivalents, end of year | $ 346,500 | $ 183,810 | $ 300,556 |
Business
Business | 12 Months Ended |
Dec. 31, 2015 | |
Business | |
Business | NOTE 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 (“U.S.”). The Company acquires, develops, leases, manages and disposes of healthcare real estate and provides financing to healthcare providers. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 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 , Inc. , its wholly-owned subsidiaries , joint ventures and 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 investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support, (ii) substantially all of an entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights, or (iii) the equity investors as a group lack, if any: (a) the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of an entity, or (c) the right to receive the expected residual returns of an entity. 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, 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 VIE manager and/or liquidate the entity. For its investments in joint ventures that are not considered to be VIEs, 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 limited partner rights, (ii) the sole general partner increases or decreases its ownership interest in the limited partnership, 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 prior to or shortly after the end of the lease term, (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 present value of future minimum lease payments (excluding executory costs) is equal to 90% or more of the excess fair value (over retained tax credits) of the leased property. If one of the four criteria is met and the minimum lease payments are determined to be reasonably predictable and collectible, the lease arrangement is generally accounted for as a direct financing lease (“DFL”). The Company utilizes the direct finance method of accounting to record D FL income . For a lease accounted for as a DFL, the net investment in the DFL represents receivables for the sum of future minimum lease payments and the estimated residual value of the leased propert y , less the unamortized unearned income. Unearned income is deferred and amortized to income over the lease term to provide a constant yield when collectibility of the lease payments is reasonably assured. The Company recognizes rental revenue for operating lease arrangements when the tenant has taken possession or controls the physical use of a leased asset; the tenant is not considered to have taken physical possession or have control of the leased asset until the Company- owned tenant improvements are substantially completed. If a lease arrangement provides for tenant improvements, the Company determines whether the tenant improvements are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, any tenant improvements funded by the tenant are treated as lease payments which are deferred and amortized into income over the lease term. 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 generally rel ate to the reimbursement of real estate taxes, insurance and repairs and maintenance expense. These expenses are recognized as revenue in the period the y are incurred. The reimbursements of these expenses 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 results in a difference in the timing of revenue amounts from what is 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. 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 , loan fees paid and received , 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. The Company recognizes gain on sales of real estate upon the closing of a transaction with the purchaser. Gains on real estate sold are recognized using the full accrual method when 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 investment management fees from 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. Allowance for Doubtful Accounts The Company evaluates the liquidity and creditworthiness of its tenants, operators and borrowers on a monthly and quarterly basis. The Company’s evaluation considers industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity and other factors. The Company’s tenants, borrowers and operators furnish property, portfolio and guarantor/operator-level financial statements, among other information, on a monthly or quarterly basis; the Company utilizes this financial information to calculate the lease or debt service coverages that it uses as a primary credit quality indicator. Lease and debt service coverage information is evaluated together with other property, portfolio and operator performance information, including revenue, expense, net operating income, occupancy, rental rate, reimbursement trends, capital expenditures and EBITDA (defined as earnings before interest, tax, and depreciation and amortization), along with other liquidity measures. The Company evaluates, on a monthly basis or immediately upon a significant change in circumstance, its tenants’, operators’ and borrowers’ ability to service their obligations with the Company. The Company maintains an allowance for doubtful accounts for straight-line rent receivables resulting from tenants’ inability to make contractual rent and tenant recovery payments or lease defaults. For straight-line rent receivables, the Company’s assessment is based on amounts estimated to be recoverable over the lease term. In connection with the Company’s quarterly review process or upon the occurrence of a significant event, loans receivable and DFLs (collectively, “Finance Receivables”), are reviewed and assigned an internal rating of Performing, Watch List or Workout. Finance Receivables that are deemed Performing meet all present contractual obligations, and collection and timing, of all amounts owed is reasonably assured. Watch List Finance Receivables are defined as Finance Receivables that do not meet the definition of Performing or Workout. Workout Finance Receivables are defined as Finance Receivables in which the Company has determined, based on current information and events, that it is probable (i) it will be unable to collect all amounts due according to the contractual terms of the agreement, (ii) the tenant, operator, or borrower is delinquent on making payments under the contractual terms of the agreement and (iii) the Company has commenced action or anticipates pursuing action in the near term to seek recovery of its investment. Finance Receivables are placed on nonaccrual status when management determines that the collectibility of contractual amounts is not reasonably assured (the asset will have an internal rating of either Watch List or Workout). Further, the Company performs a credit analysis to support the tenant’s, operator’s, borrower’s and/or guarantor’s repayment capacity and the underlying collateral values. The Company uses the cash basis method of accounting for Finance Receivables placed on nonaccrual status unless one of the following conditions exist whereby it utilizes the cost recovery method of accounting: (i) if the Company determines that it is probable that it will only recover the recorded investment in the Finance Receivable, net of associated allowances or charge-offs (if any), or (ii) the Company cannot reasonably estimate the amount of an impaired Finance Receivable. For cash basis method of accounting the Company applies payments received, excluding principal paydowns, to interest income so long as that amount does not exceed the amount that would have been earned under the original contractual terms. For cost recovery method of accounting any payment received is applied to reduce the recorded investment. Generally, the Company returns a Finance Receivable to accrual status when all delinquent payments become current under the terms of the loan or lease agreements and collectibility of the remaining contractual loan or lease payments is reasonably assured . Allowances are established for Finance Receivables on an individual basis utilizing an estimate of probable losses, if they are determined to be impaired. Finance Receivables 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 lessee’s or borrower’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 Finance Receivable’s effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience, and other relevant factors, as appropriate. Should a Finance Receivable be deemed partially or wholly uncollectible, the uncollectible balance is charged off against the allowance in the period in which the uncollectible determination has been made . Real Estate The Company’s real estate assets, consisting of land, buildings and improvements are recorded at fair value upon acquisition and/or consolidation. Any assumed liabilities, other acquired tangible assets or identifiable intangibles are also recorded at fair value upon acquisition and/or consolidation. The Company assesses fair value based on available market information, such as capitalization and discount rates, comparable sale transaction s and relevant per square foot or unit cost information. A real estate asset’s fair value may be determined utilizing cash flow projections that incorporate appropriate discount and/or capitalization rates or 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 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 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 an evaluation of the specific characteristics of each property and the acquired tenant lease (s) . 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 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 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 certain costs based on the net carrying value of the property under redevelopment plus the cost for the construction and improvement incurred in con nection with the redevelopment. Costs previously capitalized related to abandoned developments/redevelopments 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 li ves . Depreciation is discontinued when a property is identified as held for sale. Buildings and improvements are depreciated over useful lives ranging up to 60 years. 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 expected 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 their 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 value . Potential impairment indicators include a significant decline in real estate values, restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in 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 value , the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compare the fair value of a reporting unit with its carrying value , including goodwill, and, if necessary, (ii) compare the implied fair value of reporting unit goodwill with the carrying value 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, excluding goodwill, is the implied value of goodwill and is used to determine the impairment amount , if any. The Company has selected the fourth quarter of each fiscal year to perform its annual impairment test. Assets Held for Sale and Discontinued Operations Prior to the Company’s adoption of Accounting Standards Update (“ASU”) No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), a discontinued operation was a component of an entity that had either been disposed of or was deemed to be held for sale and, (i) the operations and cash flows of the component had been or was to be eliminated from ongoing operations as a result of the disposal transaction, and (ii) the entity was not to have any significant continuing involvement in the operations of the component after the disposal transaction. Accordingly, certain long-lived assets were classified as held for sale and reported at the lower of their carrying value or fair value less costs to sell and were no longer depreciated. Subsequent to the Company’s adoption of ASU 2014-08 on April 1, 2014, a discontinued operation must further represent that a disposal is a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. Investments in Unconsolidated Joint Ventures Investments in entities which the Company does not consolidate, but has the ability to exercise significant influence over the operating and financial policies of, 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 is 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 of 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 valuation 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 operations 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, (ii) security deposits , and (iii) net proceeds from property sales that were executed as tax-deferred dispositions. Derivatives and Hedging During its normal course of business, the Company uses certain types of derivative instruments for the purpose of managing interest rate and foreign 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 that are required to be bifurcated, as assets or liabilities in the consolidated balance sheets at fair value. Changes in fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria of hedge accounting are recognized in earnings. For derivative instruments designated in qualifying cash flow hedging relationships, change s in fair value related to the effective portion of the derivative instruments are recognized in accumulated other comprehensive income (loss), whereas change s in fair value of the ineffective portion are 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 derivative instruments 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 derivative instruments are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative instrument 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 instrument . 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 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 , local and foreign 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 have elected to be treated as taxable REIT subsidiaries (“ TRS ”) . 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 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. 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. When the Company determines declines in fair value of marketable securities are other ‑than ‑temporary, a loss is recognized in earnings. Capital Raising Issuance Costs Costs incurred in connection with the issuance of common shares are recorded as a reduction of additional paid-in capital. Debt issuance costs related to debt instruments excluding line of credit arrangements are deferred, recorded as a reduction of the related debt liability, and amortized to interest expense over the remaining term of the related debt liability utilizing the interest method. Debt issuance costs related to line of credit arrangements are deferred, included in other assets, and amortized to interest expense over the remaining term of the related line of credit arrangement utilizing the interest method. Segment Reporting The Company’s segments are based on its internal method of reporting which classifies business operations by healthcare sector as follows : (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. Noncontrolling Interests A rrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s equity. N et income attributable to a noncontrolling interest is included in net income on the consolidated statements of operations and, upon a gain or loss of control, the interest purchased or sold, and any interest retained, is recorded at fair value with any gain or loss recognized in earnings. The Company accounts for purchases or sales of equity interests that do not result in a change in control as equity transactions. The Company consolidates non-managing member limited liability companies (“DownREITs”) because it exercises control, and the noncontrolling interests in these entities are carried at cost. The non-managing member limited liability compan y (“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 for |
Brookdale Lease Amendments and
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) | 12 Months Ended |
Dec. 31, 2015 | |
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures ("Brookdale Transaction") | |
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures ("Brookdale Transaction") | NOTE 3. Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) On July 31, 2014, Brookdale Senior Living (“Brookdale”) completed its acquisition of Emeritus Corporation (“Emeritus”). On August 29, 2014, the Company and Brookdale completed a multiple-element transaction with three major components: · amended existing lease agreements on 153 HCP-owned senior housing communities previously leased and operated by Emeritus, that included the termination of embedded purchase options in these leases relating to 30 properties and future rent reductions; · terminated existing lease agreements on 49 HCP-owned senior housing properties previously leased and operated by Emeritus, that included the termination of embedded purchase options in these leases relating to 19 properties. At closing, the Company contributed 48 of these properties to newly formed consolidated partnership s that are operated under a structure permitted by the Housing and Economic Recovery Act of 2008 (commonly referred to as “RIDEA”) (“RIDEA II ”); the 49 th property was contributed on January 1, 2015. Brookdale owns a 20% noncontrolling equity interest in the RIDEA II and manages the facilities on behalf of the partnership; and · entered into new unconsolidated joint ventures that own 14 campuses of continuing care retirement communities (“CCRC”) in a RIDEA structure (collectively, the “CCRC JV”) with the Company owning a 49% equity interest and Brookdale owning a 51% equity interest. Brookdale manages these communities on behalf of this partnership. Leases Amended on 153 Properties (“NNN Lease Restructuring”) The Company and Brookdale entered into amended and restated triple-net master leases for 153 properties formerly leased to Emeritus. As part of the lease amendments, Brookdale forfeited purchase option rights related to 30 of these properties. The master leases have weighted average initial terms of 15 years, with two extension options that average 10 years each. While the total base rent for 2014 remained unchanged, these leases provide for reduced escalators beginning in 2015 compared to those which were in-place; the leases contain reduced rent payments of $6.5 million in 2016 and $7.5 million each subsequent year thereafter. All obligations under the amended and restated leases are guaranteed by Brookdale. In addition, the new leases include a purchase option in favor of Brookdale that was exercised with nine communities sold during 2015 for $60 million in proceeds . Effectively, the Company paid consideration of $129 million to terminate the existing purchase options and received consideration of: (i) $76 million for lower rent payments and escalators discussed above and (ii) $53 million to settle the amount that the Company owed to Brookdale for the RIDEA II transaction discussed below. See the Fair Value Measurement Techniques and Quantitative Information section below for additional information. The Company amortize s the $53 million of net consideration paid to Brookdale for the NNN Lease Restructuring as a reduction in rental income on a straight-line basis over the term of the new leases. Additionally, the lease-related intangibles, initial direct costs and straight-line rent receivables associated with the previous leases will be amortized prospectively over the new (or amended) lease terms. Lease Terminations of 49 Properties that were contributed to a RIDEA Structure (RIDEA II ) The Company and Brookdale terminated leases for a 49 property portfolio, which resulted in Brookdale forfeiting its purchase option rights to 19 of these properties; the net value of the terminated leases and forfeited purchase options was $108 million ($131 million for the value of the terminated leases, less $23 million for the value of the forfeited purchase options). At closing, the Company contributed the properties into partnerships, with Brookdale owning a 20% noncontrolling equity interest in each of the RIDEA II (“SH PropCo” and “SH OpCo”). Brookdale’s 20% interest in the RIDEA II was valued at $47 million. Brookdale also manages the properties on behalf of the RIDEA II under long-term management contracts. See the Fair Value Measurement Techniques and Quantitative Information section below for additional information. As consideration for the net value of $108 million for the terminated leases and the $47 million sale to Brookdale of the 20% noncontrolling interest in the RIDEA II , the Company received the following: (i) a $34 million short-term receivable recorded in other assets; (ii) a $68 million note from Brookdale (the “Brookdale Receivable”) recorded in loans receivable (see Note 7) that was repaid in November 2014; and (iii) an effective offset for the $53 million associated with the additional consideration owed by the Company to Brookdale for the NNN Lease Restructuring transaction discussed above. The fair values of the short-term receivable and Brookdale Receivable were estimated based on similar instruments available in the marketplace and are considered to be Level 2 measurements within the fair value hierarchy. As a result of terminating these leases, the Company recognized a net gain of $38 million consisting of: (i) $108 million gain based on the fair value of the net consideration received; less (ii) $70 million to write-off the direct leasing costs and straight-line rent receivables related to the former in-place leases. The Company has identified the SH PropCo and SH OpCo entities as VIEs (see Note 21 for additional information). Continuing Care Retirement Communities Joint Venture HCP and Brookdale formed new unconsolidated joint ventures , that own ed 14 CCRC campuses at formation, in a RIDEA structure (“CCRC PropCo” and “CCRC OpCo”). HCP and Brookdale own 49% and 51% , respectively, of CCRC PropCo and CCRC OpCo, based on each company’s respective contributions. At closing, CCRC PropCo own ed eight campuses that are leased to CCRC OpCo; CCRC OpCo own ed six campuses and the operations of the campuses leased from CCRC PropCo. Brookdale manages the campuses of the CCRC JV under long-term management contracts. At closing, Brookdale contributed eight of its owned campuses; the Company contributed two campuses previously leased to Brookdale valued at $162 million (carrying value of $92 million) and $370 million of cash (includes amounts used to fund the purchase of properties and working capital), which was primarily used to acquire four additional campuses from third parties. At closing, the CCRC JV campuses were encumbered by $569 million of mortgage and entrance fee obligations. The Company has identified the CCRC OpCo entity as a VIE (see Note 21 for additional information). Fair Value Measurement Techniques and Quantitative Information The fair values of the forfeited rental payments and purchase option rights related to the NNN Lease Restructuring and the RIDEA II were based on the income approach and are considered Level 3 measurements within the fair value hierarchy. The Company utilized discounted cash flow models with observable and unobservable valuation inputs. These fair value measurements, or valuation techniques, were based on current market participant expectations and information available as of the close of the transaction on August 29, 2014. A summary of the quantitative information about fair value measurements for the NNN Lease Restructuring and RIDEA II transactions follows (dollars in thousands): Fair Value Valuation Technique Valuation Inputs Input Average or Range NNN Lease Restructuring Rental payment concessions by HCP $ Discounted Cash Flow NNN Rent Coverage Ratio 1.20x (benefiting Brookdale) NNN Rent Growth Rate 3.0% Discount Rate 8.00% - 8.50 % Forfeited purchase options by $ Discounted Cash Flow Capitalization Rates 7.50% - 9.25% Brookdale (benefiting HCP) Discount Rate 10.50% - 11.00% Exercise Probability 100. 00% RIDEA II Forfeited rental payments by HCP $ Discounted Cash Flow NNN Rent Coverage Ratio 1.20x (benefiting Brookdale) NNN Rent Growth Rate 3.0% EBITDAR Growth Rate 5.5% Discount Rate 8.00% - 11.00% Forfeited purchase options by $ Discounted Cash Flow Capitalization Rates 7.50% - 9.25% Brookdale (benefiting HCP) Discount Rate 10.50% - 11.00% Exercise Probability 1 00.00% In determining which valuation technique would be utilized to calculate fair value for the multiple elements of this transaction, the Company considered the market approach , obtaining published investor survey and sales transaction data, where available. The information obtained was consistent with the valuation inputs and assumptions utilized by the selected income approach that was applied to this transaction. Investor survey and sales transaction data reviewed for similar transactions in similar marketplaces, included, but were not limited to, sales price per unit, rent coverage ratios, rental rate growth as well as capitalization and discount rates . Rental Payment Concessions. The fair value of the rental payment concessions related to the NNN Lease Restructuring Transaction was determined as the present value of the difference between (i) the remaining contractual rental payments of the in-place leases, limited to the first purchase option date ( where available ) and market rents to complete the initial lease term of the amended Brookdale leases thereafter and (ii) the contractual rental payments under the amended Brookdale leases. Forfeited Rental Payments. The fair value of the forfeited rental payments related to the RIDEA II transaction was calculated as the present value of the difference between (i) the remaining contractual rental payments of the terminated in-place leases, limited to first purchase option date, where available and (ii) the forecasted cash flows of the facility-level operating results of the RIDEA II . Forfeited Purchase Option Rights . The fair value of the forfeited purchase option rights was determined as the present value of the difference between (i) the fair value of the underlying property as of the initial exercise date and (ii) the exercise price for purchase option rights as defined in the lease agreement. To determine the fair value of the underlying property as of the initial exercise date, the Company utilized a cash flow model that incorporated growth rates to forecast the underlying property’s operating results and applied capitalization rates to establish its expected fair value. The Company utilized an appropriate risk-adjusted discount rate to estimate the present value as of the closing date of the transaction. |
Other Real Estate Property Inve
Other Real Estate Property Investments | 12 Months Ended |
Dec. 31, 2015 | |
Other Real Estate Property Investments | |
Other Real Estate Property Investments | NOTE 4. Other Real Estate Property Investments Acquisition of Private Pay Senior Housing Portfolio (“RIDEA III”) On June 30, 2015, the Company and Brookdale acquired a portfolio of 35 private pay senior housing communities from Chartwell Retirement Residences, including two leasehold interests, representing 5,025 units. The portfolio was acquired in a RIDEA structure (“RIDEA III”), with Brookdale owning a 10% noncontrolling interest. Brookdale has operated these communities since 2011 and continues to manage the communities under a long-term management agreement, which is cancellable under certain conditions (subject to a fee if terminated within seven years from the acquisition date). The Company paid $770 million in cash consideration, net of cash assumed, and assumed $32 million of net liabilities and $29 million of noncontrolling interests to acquire: (i) real estate with a fair value of $771 million, (ii) lease-up intangible assets with a fair value of $53 million and (iii) working capital of $7 million. As a result of the acquisition, the Company recognized a net termination fee of $8 million in rental and related revenues, which represents the termination value of the two leasehold interests. The lease-up intangible 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 (i.e., resident occupancy above 80% ). From the acquisition date to December 31, 2015, the Company recognized revenues and earnings of $94 million and $1 million, respectively, from RIDEA III. As of December 31, 2015, the purchase price allocation is preliminary and may be subject to change. Pro Forma Results of Operations (Unaudited) The following unaudited pro forma consolidated results of operations assume that the RIDEA III acquisition was completed as of January 1, 2013 (in thousands, except per share amounts): December 31, 2015 December 31, 2014 December 31, 2013 Revenues $ $ $ Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share $ $ $ Diluted earnings per common share 2015 Other Real Estate Acquisitions In addition to the RIDEA III acquisition discussed above, a summary of other real estate acquisitions for the year ended December 31, 2015 follows (in thousands): Consideration Assets Acquired (1) Cash Paid/ Liabilities Noncontrolling Net Segment Debt Settled Assumed Interest Real Estate Intangibles Senior housing (2) $ $ $ $ Post-acute/skilled nursing (2) — — Life science — Medical office (3) — $ $ $ $ $ (1) Amounts include preliminary purchase price allocations which may be subject to change. (2) Includes £174 million ( $254 million) of the Company’s HC-One Facility (see Note 7) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”) and includes £27 million ( $42 million) of a loan originated in May 2015 converted to fee ownership in two U.K. care homes. (3) Includes $225 million for a medical office building (“MOB”) portfolio acquisition completed in June 2015 and placed in HCP Ventures V, LLC (“HCP Ventures V”), of which in October 2015 the Company issued a 49% noncontrolling interest in HCP Ventures V for $110 million (see Note 13). 2014 Real Estate Acquisitions A summary of other real estate acquisitions for the year ended December 31, 2014 follows (in thousands): Consideration Assets Acquired Debt and Other Liabilities Noncontrolling Net Segment Cash Paid Assumed Interest Real Estate Intangibles Senior housing (1) $ $ $ (2) $ Life science — Medical office — $ $ $ $ $ (1) Includes the acquisition of a $147 million ( £88 million) portfolio of 23 care homes in the UK. (2) Includes $5 million of non-managing member limited liability company units Completed Developments During the year ended December 31, 2014, the Company placed in service the following: (i) two life science facilities, (ii) a MOB and (iii) a post-acute/skilled nursing facility. These completed developments represented $41 million of gross real estate on the Company’s consolidated balance sheets as of the date they were placed in service. There were no completed developments placed in service during the year ended December 31, 2015. Construction, Tenant and Other Capital Improvements A summary of the Company’s funding for construction, tenant and other capital improvements follows (in thousands): Year Ended December 31, Segment 2015 2014 Senior housing $ $ Post-acute/skilled nursing Life science Medical office Hospital $ $ |
Dispositions of Real Estate and
Dispositions of Real Estate and Discontinued Operations | 12 Months Ended |
Dec. 31, 2015 | |
Dispositions of Real Estate and Discontinued Operations | |
Dispositions of Real Estate and Discontinued Operations | NOTE 5. Dispositions of Real Estate and Discontinued Operations During the year ended December 31, 2015 , the Company sold the following: (i) nine senior housing facilities for $60 million resulting from Brookdale’s exercise of its purchase option received as part of the Brookdale Transaction, (ii) two parcels of land in its life science segment for $51 million and (iii) a MOB for $400,000 . During the year ended December 31, 2014 , the Company sold the following: (i) two post-acute/skilled nursing facilities for $22 million, (ii) a hospital for $17 million, ( i ii) a senior housing facility for $16 m illion and (i v ) a MOB for $145,000 . On August 29, 2014, in conjunction with the Brookdale Transaction, the Company contributed three senior housing facilities with a carrying value of $92 million into the CCRC JV (an unconsolidated joint venture with Brookdale discussed in Note 3). The Company recorded its investment in the CCRC JV for the contribution of these properties at their carrying value (carryover basis) and therefore did not recognize either a gain or loss upon the contribution. The Company separately presented as discontinued operations the results of operations for all consolidated assets disposed of and all properties held for sale, if any, prior to the adoption of ASU 2014-08 on April 1, 2014. The amounts included in discontinued operations, for the year ended December 31, 2014 represent the activity for properties sold prior to the adoption date. No properties sold subsequent to the adoption date met the new criteria for reporting discontinued operations (see Note 2). 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, 2014 2013 Rental and related revenues $ $ Depreciation and amortization expenses — Operating expenses Other expense, net Income before impairment losses and gain on sales of real estate, net of income taxes $ $ Impairment losses on real estate $ — $ Gain on sales of real estate, net of income taxes $ $ Number of properties included in discontinued operations |
Net Investment in Direct Financ
Net Investment in Direct Financing Leases | 12 Months Ended |
Dec. 31, 2015 | |
Net Investment in Direct Financing Leases | |
Net Investment in Direct Financing Leases | NOTE 6. Net Investment in Direct Financing Leases The components of net investment in DFLs consisted of the following (dollars in thousands): December 31, 2015 2014 Minimum lease payments receivable $ $ Estimated residual values Less unearned income Net investment in direct financing leases before allowance Allowance for DFL losses — Net investment in direct financing leases $ $ Properties subject to direct financing leases HCR ManorCare, Inc. The Company acquired 334 post-acute, skilled nursing and assisted living facilities in its 2011 transaction with HCR ManorCare Inc. (“HCRMC”) and entered into a triple-net Master Lease and Security Agreement (the “Master Lease”) with a subsidiary (“ Lessee”) of HCRMC. As part of the Company’s fourth quarter 2015 review process, including its internal rating evaluation, it assessed the collect i bility of all contractual rent payments under the HCRMC amended master lease (the “Amended Master Lease”). The Company’s evaluation included, but was not limited to, consideration of : (i) the continued decline in HCRMC’s operating performance and fixed charge coverage ratio during the second half of 2015, with the most significant deterioration occurring during the fourth quarter, (ii) the reduced growth outlook for the post-acute/skilled nursing business and (iii) HCRMC’s 2015 audited financial statements. The Company determined that the timing and amounts owed under the HCRMC DFL investments are no longer reasonably assured and assigned an internal rating of “Watch List” as of December 31, 2015 . Further, the Company placed the HCRMC DFL investments on nonaccrual and will utilize the cash method of accounting in accordance with its policy (see Note 2). As a result of assigning an internal rating of “Watch List” for its HCRMC DFL investments during the quarterly review process, the Company further evaluated the carrying amount of its HCRMC DFL investments. As a result of the significant decline in HCRMC’s fixed charge coverage ratio in the fourth quarter of 2015, combined with a lower growth outlook for the post-acute/skilled nursing business , the Company determined that it is probable that its HCRMC DFL investments are impaired and the amount of the loss can be reasonably estimated. In the fourth quarter of 2015, the Company recorded an allowance for DFL losses (impairment charge) of $817 million, reducing the carrying amount of its HCRMC DFL investments from $6.0 billion to $5.2 billion . See Note 17 for additional discussion of the impairment charge and related valuation assumptions . In December 2015, the Company reduced the carrying amount of its equity investment in HCRMC to zero, and income will be recognized only if cash distributions are received from HCRMC; as a result, the Company will no longer recharacterize (eliminate) its proportional ownership share of income from DFLs to equity income from unconsolidated joint ventures (see Note 8 ). The Company recognized HCRMC DFL income and HCRMC equity income as follows (in thousands) : Year Ended December 31, 2015 2014 2013 Cash income $ $ $ DFL accretion, net Total DFL income from HCRMC $ $ $ DFL accretion income recharacterized to equity income $ $ $ Equity loss from HCRMC Total equity income from HCRMC $ $ $ During the years ended December 31, 2015, 2014 and 2013 , the C ompany recognized a total of $148 million , $142 million and $145 million of accretion , net , respectively, related to its HCRMC DFL investments . During the quarter ended March 31, 2015, the Company and HCRMC agreed to market for sale the real estate and operations associated with 50 non-strategic facilities that were under the Master Lease. HCRMC receive s an annual rent reduction under the Master Lease based on 7.75% of the net sales proceeds received by HCP. During the year ended December 31, 2015, the Company completed sales of 22 non-strategic HCRMC facilities for $219 million. Subsequent to December 31, 2015, the Company sold an additional 11 facilities, bringing the total facilities sold through February 8, 2016 to 33, with the remaining facility sales expected to close by mid-2016 . On March 29, 2015, certain subsidiaries of the Company entered into an amendment to the Master Lease (the “HCRMC Lease Amendment”) effective April 1, 2015. The HCRMC Lease Amendment reduced initial annual rent by a net $68 million from $541 million to $473 million. Commencing on April 1, 2016, the minimum rent escalation shall be reset to 3.0% for each lease year through the expiration of the initial term of each applicable pool of facilities. Prior to the HCRMC Lease Amendment, rent payments would have increased 3.5% on April 1, 2015 and 2016 and 3.0% thereafter. The initial term was extended five years to an average of 16 years , and the extension options’ aggregate terms remained the same . As consideration for the rent reduction, the Company received a Deferred Rent Obligation (“DRO”) from the Lessee equal to an aggregate amount of $525 million, which was allocated into two tranches: (i) a Tranche A DRO of $275 million and (ii) a Tranche B DRO of $250 million. Until the entire Tranche A DRO is paid in full, the Lessee will make rental payments equal to 6.9% of the outstanding amount (representing $19 million) for the initial lease year (the “Tranche A Current Payment”), increased each year thereafter by 3.0% . Commencing on April 1, 2016, until the Tranche B DRO is paid in full, the outstanding principal balance of the Tranche B DRO will be increased annually by (i) 3.0% initially, (ii) 4.0% commencing on April 1, 2019, (iii) 5.0% commencing on April 1, 2020, and (iv) 6.0% commencing on April 1, 2021 and for the remainder of its term. The DRO is due and payable on the earlier of (i) certain capital or liquidity events of HCRMC, including an initial public offering or sale, or (ii) March 31, 2029, which is not subject to any extensions. The HCRMC Lease Amendment also imposes certain restrictions on the Lessee and HCRMC until the DRO is paid in full, including with respect to the payment of dividends and the transfer of interest in HCRMC. Additionally, HCRMC agreed to sell, and HCP agreed to purchase, nine post-acute facilities for an aggregate purchase price of $275 million. The proceeds from the nine facilities are to be used to reduce the Tranche A DRO as the purchases are consummated. The closing of the purchases of these facilities are subject to certain customary conditions and approvals. Through December 31, 2015, HCRMC and HCP completed seven of the nine facility purchases for $184 million. The purchases of the remaining two facilities are expected to occur by mid- 2016. Following the purchase of a facility, the Lessee lease s such facility from the Company pursuant to the Amended Master Lease. The nine facilities will contribute an aggregate of $19 million of annual rent (subject to escalation) under the Amended Master Lease . In March 2015, the Company recorded a n impairment charge of $478 million related to its HCRMC DFL investments. The impairment charge reduced the carrying value of the HCRMC DFL investments from $6.6 billion to $6.1 billion, based on the present value of the future lease payments effective April 1, 2015 under the Amended Master Lease discounted at the original DFL investments’ effective lease rate (see Note 17) . See Note 8 for additional discussion of the Company’s equity interest in HCRMC and the U.S. Department of Justice (“DOJ”) action related to HCRMC. During the year ended December 31, 2014 , the Company received a $13 million payoff from the sale of a HCRMC post-acute/skilled nursing facility that collateralized this DFL. Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2015 (dollars in thousands): Carrying Percentage of Internal Ratings Investment Type Amount DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Senior housing $ $ $ $ — Post-acute/skilled nursing — — Hospital — — $ $ $ $ — Beginning September 30 , 2013, the Company placed a 14 property s enior housing DFL (the “DFL Portfolio”) on nonaccrual status and classified the DFL Portfolio on “Watch List” status . The Company determined that the collection of all rental payments was and continues to be no longer reasonably assured; therefore, rental revenue for the DFL Portfolio has been recognized on a cash basis. The Company re-assessed the DFL Portfolio for impairment on December 31, 201 5 and determined that the DFL Portfolio was not impaired based on its belief that: (i) it was 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 exceeded the DFL Portfolio’s 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 years ended December 31, 2015 , 201 4 and 201 3 , the Company recognized DFL income of $15 million, $19 million and $24 million, respectively, and received cash payments of $20 million, $24 million and $24 million, respectively, from the DFL Portfolio. The carrying value of the DFL Portfolio was $366 million and $370 million at December 31, 2015 and 201 4 , respectively. 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, 2015, were as follow (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2015 | |
Loans Receivable. | |
Loans Receivable | NOTE 7. Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2015 2014 Real Estate Other Real Estate Other Secured Secured Total Secured Secured Total Mezzanine $ — $ $ 660,138 $ — $ $ Other — 114,322 — Unamortized premiums (discounts), fees and costs, net — Allowance for loan losses — — — — $ $ $ 768,743 $ $ $ The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2015 (dollars in thousands): Percentage Internal Ratings Carrying of Loan Performing Watch List Workout Investment Type Amount Portfolio Loans Loans Loans Real estate secured $ $ $ — $ — Other secured — — $ $ $ — $ — Real Estate Secured Loans Following is a summary of loans receivable secured by real estate at December 31, 2015 (dollars in thousands): Final Number Maturity of Principal Carrying Date Loans Payment Terms Amount Amount 2016 aggregate monthly interest-only payments, accrues interest at 8.5% , and secured by a senior housing facility in Pennsylvania (1) $ $ 2017 aggregate monthly interest-only payments, accrues interest at 8.5% , and secured by two senior housing facilities in New Jersey and Pennsylvania; (1) and aggregate monthly interest-only payments, accrues interest at LIBOR plus 6.0%, and secured by, among other things, the issuer's real estate assets 2018 monthly interest-only payments, accrues interest at 8.0% and secured by a senior housing facility in Pennsylvania (1) $ $ (1) Represents commitments to fund an aggregate of $2 million for four development projects that are at or near completion as of December 31, 2015. At December 31, 2015 , future contractual principal payments to be received on loans receivable secured by real estate are $15 million in 2016, $79 million in 2017 and $20 million in 2018. During the year ended December 31, 2015, the Company recognized $27 million in interest income related to loans secured by real estate. At December 31, 2015, the Company accrued $1 million of interest receivables related to real estate secured loans. In December 2015, the Company purchased £28 million ($42 million) of Four Seasons Health Care’s (“Four Seasons”) £40 million senior secured term loan. The loan is secured by , among other things, the real estate assets of Four Seasons , and represents the most senior debt tranche. The loan bears interest at a rate of LIBOR plus 6.0% per annum and matures in December 2017 . Other Secured Loans HC-One Facility In November 2014, the Company was the lead investor in the financing for Formation Capital and Safanad’s acquisition of NHP, a company that, at closing, owned 273 nursing and residential care homes representing over 12,500 beds in the U.K. principally operated by HC-One. The Company provided a loan facility (the “ HC-One Facility”), secured by substantially all of NHP’s assets, totaling £395 million, with £363 million ( $574 million) drawn at closing. The HC-One Facility has a five -year term and was funded by a £355 million draw on the Company’s revolving line of credit facility that is discussed in Note 11. In February 2015, the Company increased the HC-One Facility by £108 million ( $164 million) to £502 million ( $795 million), in conjunction with HC-One’s acquisition of Meridian Healthcare. In April 2015, the Company converted £174 million of the HC-One Facility into a sale-leaseback transaction for 36 nursing and residential care homes located throughout the U.K. (see Note 4). In September 2015, the Company amended and increased its commitment under the HC-One Facility by £11 million primarily for the funding of capital expenditures and a development project. As part of the amendments, the Company shortened the non-call period by 17 months and provided consent for (i) the pay down of £34 million from disposition proceeds without a prepayment premium and (ii) the spinoff of 36 properties into a separate joint venture. In return, the Company retained security over the spinoff properties for a period of two years . Through December 3 1 , 2015, the Company received paydowns of £34 million ( $52 million). Brookdale Receivable In conjunction with the Brookdale Transaction, on August 29, 2014, the Company provided a $68 million interest-only loan, which was repaid in full in November 2014. See additional information regarding the Brookdale Transaction in Note 3. Barchester Loan On May 2, 2013, the Company acquired £121 million of subordinated debt at a discount for £109 million ($170 million). The loans were secured by an interest in facilities leased and operated by Barchester Healthcare (“Barchester”). On September 6, 2013, the Company received £129 million ($202 million) for the par payoff of these debt investments, recognizing interest income of $24 million for the related unamortized loan discounts. 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. The Company funded $100 million (the “First Tranche”) at closing and funded an additional $102 million (the “Second Tranche”) in June 2013. In May 2015, the Company increased and extended the mezzanine loan facility with Tandem to (i) fund $50 million (the “Third Tranche”) and $5 million (the “Fourth Tranche”), which proceeds were used to repay a portion of Tandem’s existing senior and mortgage debt, respectively; (ii) extend its maturity to October 2018; and (iii) extend the prepayment penalty period to January 2017. The loans bear interest at fixed rates of 12% , 14% , 6% and 6% per annum for the First, Second, Third and Fourth Tranches, respectively . At December 31, 2015 , the facility had an outstanding balance of $256 million at an 11.5% blended interest rate and was subordinate to $381 million of senior mortgage debt. Delphis Operations, L.P. Loan Through October 2015, the Company held a secured term loan made to Delphis Operations, L.P. (“Delphis” or the “Borrower”) that was collateralized by all of the assets of the Borrower. I n October 2015, the Company received $23 million in cash proceeds from the sale of Delp his’ collateral and recognized an impairment recovery of $6 million for the amount received in excess of the loan’s carrying value. The carrying value of the loan, net of an allowance for loan losses, was $17 million at December 31, 2014. At December 31, 2014, the allowance related to the Company’s senior secured term loan to Delphis was $13 million with no additional allowances recognized during the year ended December 31, 2015. During the years ended December 31, 2015 and 2014, the Company received cash payments from the Borrower of $23 million and $1 million , respectively. |
Investments in and Advances to
Investments in and Advances to Unconsolidated Joint Ventures | 12 Months Ended |
Dec. 31, 2015 | |
Investments in and Advances to Unconsolidated Joint Ventures | |
Investments in and Advances to Unconsolidated Joint Ventures | NOTE 8. Investments in and Advances to Unconsolidated Joint Ventures The Company owns interests in the following entities that are accounted for under the equity method at December 31, 2015 (dollars in thousands): Entity (1) Segment Carrying Amount Ownership % CCRC JV (2) senior housing $ HCRMC (3) senior housing and post-acute/skilled nursing — MBK JV (4) senior housing HCP Ventures III, LLC medical office HCP Ventures IV, LLC medical office and hospital HCP Life Science (5) life science 50 -63 Vintage Park senior housing MBK Development JV (4) senior housing Suburban Properties, LLC medical office Advances to unconsolidated joint ventures, net $ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Includes two unconsolidated joint ventures in a RIDEA structure (CCRC PropCo and CCRC OpCo). See additional information regarding the CCRC JV and the Brookdale Transaction in Note 3. (3) In December 2015, September 2015 and December 2014, the Company recognized impairment charges of $19 million, $27 million and $36 million, respectively. See Note 17 for additional information regarding th e impairment charge s ; also, see Note 6 regarding the Company’s related HCRMC DFL investment s . (4) Includes two unconsolidated joint ventures in a RIDEA structure (PropCo and OpCo). (5) 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, 2015 (1) 2014 Real estate, net $ $ Goodwill and other assets, net Assets held for sale Total assets $ $ Capital lease obligations and mortgage debt $ $ Accounts payable and other Liabilities and mortgage debt held for sale Other partners’ capital HCP’s capital (2) Total liabilities and partners’ capital $ $ (1) Includes the financial information of Vintage Park, MBK JV and MBK Development JV , which were formed i n January 2015 , March 2015 and September 2015, respectively . (2) The combined basis difference of the Company’s investments in these joint ventures of $39 million, as of December 31, 2015, is primarily attributable to goodwill, real estate, capital lease obligations, deferred tax assets and lease-related net intangibles. Year Ended December 31, 2015 (1) 2014 (2) 2013 Total revenues $ $ $ Income (loss) from discontinued operations Net loss (3) HCP’s share in earnings (3) Fees earned by HCP Distributions received by HCP (1) Includes the financial information of Vintage Park, MBK JV and MBK Development JV , which were formed in January 2015, March 2015 and September 2015, respectively . (2) Includes the financial information of the CCR C JV, which the Company formed i n August 2014. (3) The net loss in 201 5 includes $79 million related to HCRMC’s goodwill that was allocated to disposal groups that were sold. The net loss in 2014 includes impairments, net of the related tax benefit, of $396 million related to HCRMC’s deferred tax assets and trademark intangible assets. The impairments at HCRMC were the result of a continued shift in patient payor sources from Medicare to Medicare Advantage, which negatively impact reimbursement rates and length of stay for HCRMC’s skilled nursing segment and a shift in HCRMC’s marketing and branding strategy. The net loss in 2013 includes a charge of $400 million related to recording of a valuation allowance that reduced the carrying value of HCRMC’s deferred tax assets to an amount that is more likely than not to be realized as determined by HCRMC’s management. HCRMC’s goodwill, intangible assets and deferred tax assets were not previously considered in the Company’s initial investments in the operations of HCRMC . T herefore, the related impairments and valuation allowance against the carrying value of the deferred tax assets do not impact the Company’s recorded investment or impact on the Company’s share of earnings from or its equity investment in HCRMC . H owever, the circumstances that led to HCRMC’s management to reach the determination that it was necessary to reduce the carrying value of their deferred tax and trademark intangible assets in 2014 are consistent with the Company’s determination that its equity investment in HCRMC was impaired in December 2014 (see Note 17). The Company’s joint venture interest in HCRMC is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP’s ownership in HCRMC. The elimination of the respective proportional lease expense at the HCRMC level in substance results in $58 million, $62 million and $62 million of DFL income that is recharacterized to the Company’s share of earnings from HCRMC (equity income from unconsolidated joint ventures) for the years ended December 31, 2015, 2014 and 2013, respectively. See Note 6 for additional discussion. CCRC JV On August 29, 2014, as part of the Brookdale Transaction discussed in Note 3, HCP and Brookdale formed unconsolidated joint ventures in a RIDEA structure. At closing, Brookdale contributed eight of its owned campuses; the Company contributed two campuses previously leased to Brookdale valued at $162 million (carrying value of $92 million) and $370 million of cash. At closing, the CCRC JV campuses were encumbered by $569 million of mortgage and entrance fee obligations (s ee Notes 3 and 5 ) . HCRMC On April 20, 2015, the DOJ unsealed a previously filed complaint in the U.S. District Court for the Eastern District of Virginia against HCRMC and certain of its affiliates in three consolidated cases following a civil investigation arising out of three lawsuits filed by former employees of HCRMC under the qui tam provisions of the federal False Claims Act. The DOJ’s complaint in intervention is captioned United States of America, ex rel. Ribik, Carson, and Slough v. HCR ManorCare, Inc., ManorCare Inc., HCR ManorCare Services, LLC and Heartland Employment Services, LLC (Civil Action Numbers: 1:09cv13; 1:11cv1054; 1:14cv1228 (CMH/TCB)). The complaint alleges that HCRMC submitted claims to Medicare for therapy services that were not covered by the skilled nursing facility benefit, were not medically reasonable and necessary, and were not skilled in nature, and therefore not entitled to Medicare reimbursement. While this litigation is at an early stage and HCRMC has indicated that it believes the claims are unjust and it will vigorously defend against them, a significant adverse judgment against HCRMC or significant settlement obligation could impact the carrying value of the Company’s investments in HCRMC’s operations and/or DFLs investment further (see Note s 6 and 17 ). The Company concluded that its equity investment in HCRMC was other-than-temporarily impaired as of September 30, 2015 and recorded an impairment charge of $27 million (see Note 17). In December 2015, the Company concluded that its equity investment in HCRMC was other-than-temporarily impaired and recorded an impairment charge of $19 million , and , prospectively, income will be recognized only if cash distributions are received from HCRMC (see Notes 6 and 17). MBK JVs On March 30, 2015, the Company and MBK Senior Living (“MBK”), a subsidiary of Mitsui & Co. Ltd, formed a new RIDEA joint venture (“MBK JV”) that owns three senior housing facilities with the Company and MBK each owning a 50% equity interest. MBK manages these communities on behalf of the joint venture. The Company contributed $27 million of cash and MBK contributed the three senior housing facilities with a fair value of $126 million, which were encumbered by $78 million of mortgage debt at closing. On September 25, 2015, the Company and MBK formed a new RIDEA joint venture (“MBK Development JV”) which acquired a $3 million parcel of land for the purpose of developing a 74 -unit class A senior housing facility in Santa Rosa, California. The parcel of land is located adjacent to the Oakmont Gardens independent living facility currently owned and operated by the MBK JV. HCP Ventures III, LLC and HCP Ventures IV, LLC On December 30, 2015, HCP Ventures III, LLC and HCP Ventures IV, LLC (“HCP Ventures IV”) sold 61 MOBs , three hospitals and a re-development property for total proceeds of $634 million, recognizing gains on sales of real estate of $59 million , of which the Company’s share was $15 million . As part of these sales, the Company received aggregate distributions of $45 million, including repayment of its loan receivable . |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2015 | |
Intangibles | |
Intangibles | NOTE 9. Intangibles The Company’s intangible lease assets were (in thousands): December 31, Intangible lease assets 2015 2014 Lease-up intangibles $ $ Above market tenant lease intangibles Below market ground lease intangibles Gross intangible lease assets Accumulated depreciation and amortization Net intangible lease assets $ $ The remaining weighted average amortization period of intangible assets was 14 years at both December 31, 2015 and 201 4 . The Company’s intangible lease liabilities were (in thousands): December 31, Intangible lease liabilities 2015 2014 Below market lease intangibles $ $ Above market ground lease intangibles Gross intangible lease liabilities Accumulated depreciation and amortization Net intangible lease liabilities $ $ The remaining weighted average amortization period of intangible lease liabilities was nine years at both December 31, 2015 and 201 4 . For the years ended December 31, 2015 , 201 4 and 201 3 , rental income includes additional revenues of $4 million, $3 million and $9 million, respectively, from the amortization of net below market lease intangibles. For the years ended December 31, 2015 , 201 4 and 201 3 , operating expenses include additional expense of $1 million each year from the amortization of net above market ground lease intangibles. For the years ended December 31, 2015 , 201 4 and 201 3 , depreciation and amortization expense includes additional expense of $76 million, $60 million and $59 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 2016 $ $ 2017 2018 2019 2020 Thereafter $ $ |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2015 | |
Other Assets.. | |
Other Assets | NOTE 10. Other Assets The Company’s other assets consisted of the following (in thousands): December 31, 2015 2014 Straight-line rent receivables, net of allowance of $33,648 and $34,182 , respectively $ $ Marketable debt securities, net Leasing costs and inducements, net Goodwill Other Total other assets $ $ At December 31, 2015 and 2014, within other assets is a non-interest bearing receivable of $9 million and $26 million, respectively, from Brookdale payable in eight quarterly installments (see Note 3). At December 31, 2014, other assets also include a loan receivable of $15 million from HCP Ventures IV , which was repaid as part of real estate asset sales in December 2015 (see Note 8) . 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 Marketable debt securities, net are classified as held-to-maturity debt securities and primarily represent senior notes issued by Elli Investments Limited (“Elli”), a company beneficially owned by funds or limited partnerships managed by Terra Firma, as part of the financing for Elli’s acquisition of Four Seasons Health Care (the “Four Seasons Notes”). The Four Seasons Notes mature in June 2020 , are non-callable through June 2016 and bear interest on their par value at a fixed rate of 12.25% per annum . The Company purchased an aggregate par value of £138.5 million of the Four Seasons Notes at a discount for £136.8 million ( $215 million) in June 2012, representing 79% of the total £175 million issued and outstanding Four Seasons Notes . In June 2015 and September 2015, the Company determined that the Four Seasons Notes were other-than-temporarily impaired (see Note 1 7) . In December 2015, the Company received its contractual interest payment of £8 million ($13 million), which was applied against the principal balance reducing the carrying amount to £58 million ($85 million). |
Debt
Debt | 12 Months Ended |
Dec. 31, 2015 | |
Debt | |
Debt | NOTE 11. Debt Bank Line of Credit and Term Loans The Company’s $2.0 billion unsecured revolving line of credit facility (the “Facility”) matures on March 31, 2018 and contains a one -year extension option . Borrowings under the Facility accrue interest at LIBOR plus a margin that depends upon the Company’s credit ratings. The Company pays a facility fee on the entire revolving commitment that depends on its credit ratings. Based on the Company’s credit ratings at December 31, 2015 , the margin on the Facility was 0.925% , and the facility fee was 0.15% . The Facility also includes a feature that allows 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, 2015 , the Company had £270 million ( $397 million ) , outstanding under the Facility with a weighted average effective interest rate of 1.72% . On July 30, 2012, the Company entered into a credit agreement with a syndicate of banks for a £137 millio n ( $202 million at December 31, 2015 ) four -year unsecured term loan (the “2012 Term Loan”). Based on the Company’s credit ratings at December 31, 2015 , the 2012 Term Loan accrues interest at a rate of GBP LIBOR plus 1.20% . Concurrent with the closing of the 2012 Term Loan, the Company entered into a four -year interest rate swap contract that fixes the interest rate of the 2012 Term Loan at 1.81% , subject to adjustments based on the Company’s credit ratings. The 2012 Term Loan contains a one -year committed extension option. On January 12, 2015, the Company entered into a credit agreement with a syndicate of banks for a £220 million ( $323 million at December 31, 2015 ) four -year unsecured term loan (the “2015 Term Loan”) that accrues interest at a rate of GBP LIBOR plus 0.975% , subject to adjustments based on the Company’s credit ratings (the 2012 and 2015 Term Loans are collectively, the “Term Loans”). Concurrently, the Company entered into a three -year interest rate swap contract that fixes the rate of the 2015 Term Loan at 1.79% (see Note 2 4 ) . Proceeds from the 2015 Term Loan were used to repay £220 million that partially funded the November 2014 HC-One Facility (see Note 7) . The 2015 Term Loan contains a one -year committed extension option . The Facility and Term Loans 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% and (iv) require a minimum Fixed Charge Coverage ratio of 1.5 times. The Facility and Term Loans also require a Minimum Consolidated Tangible Net Worth of $9.5 billion at December 31, 2015 . At December 31, 2015 , the Company was in compliance with each of these restrictions and requirements. Senior Unsecured Notes At December 31, 2015 , the Company had senior unsecured notes outstanding with an aggregate principal balance of $9 . 2 billion. The senior unsecured notes contain certain covenants including limitations on debt, maintenance of unencumbered assets, cross-acceleration provisions and other customary terms. The Company believes it was in compliance with these covenants at December 31, 2015 . The following table summarizes the Company’s senior unsecured note issuances for the periods presented (dollars in thousands): Issuance Period Amount Coupon Rate Maturity Date Net Proceeds Year ended December 31, 2015: January 21, 2015 $ % $ May 20, 2015 $ % $ December 1, 2015 $ % $ Year ended December 31, 2014: February 21, 2014 $ % $ August 14, 2014 $ % $ The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands): Period Amount Coupon Rate Year ended December 31, 2015: March 1, 2015 $ % June 8, 2015 $ % Year ended December 31, 2014: February 1, 2014 $ % June 14, 2014 $ % June 14, 2014 $ 3 Month LIBOR+0.9 % Mortgage Debt At December 31, 2015 , the Company had $ 933 m illion in aggregate principal amount of mortgage debt outstanding , which is secured by 62 healthcare facilities (including redevelopment properties) with a carrying value of $1.2 billion. 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 . Debt Maturities The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2015 (dollars in thousands): Senior Unsecured Notes (3) Mortgage Debt (4) Line of Interest Interest Year Credit (1) Term Loans (2) Amount Rate Amount Rate Total (5) 2016 $ — $ $ % $ % $ 2017 — — % % 2018 — % % 2019 — % N/A 2020 — — % % Thereafter — — % % % % Discounts and debt costs, net — $ $ $ $ $ (1) Represents £ 270 million translated into U.S. dollars (“USD”) . (2) Represents £357 million translated into USD . (3) Interest rates on the notes ranged from 2.79% to 6.88% with a weighted average effective rate of 4.68% and a weighted average maturity of six years. (4) Interest rates on the mortgage debt ranged from 3.14% to 8.35% with a weighted average effective interest rate of 6.21% and a weighted average maturity of two years. (5) Excludes $ 9 4 million of other debt that represents Life Care Bonds and Demand Notes that have no scheduled maturities. Other Debt At December 31, 2015 , the Company had $66 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. At December 31, 2015, the Company had $28 million of on-demand notes (“Demand Notes”) from the CCRC JV . The Demand Notes bear interest at a rate of 4.5% . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies. | |
Commitments and Contingencies | NOTE 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. The Company is not aware of any 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. DownREIT LLCs In connection with the formation of certain DownREIT 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 . Commitments The following table summarizes our material commitments , excluding debt servicing obligations (see Note 11), at December 31, 2015 (in thousands): More than Total 2016 2017-2018 2019-2020 Five Years U.K. loan commitments (1) $ $ $ $ — $ — Construction loan commitments (2) — — — Development commitments (3) — — — Ground and other operating leases Total $ $ $ $ $ (1) Represents £39 million translated into U SD as of December 31, 2015 for commitments to fund the Company’s U.K. loan facilities . (2) Represents commitments to finance development projects and related working capital financings. (3) Represents construction and other commitments for developments in progress. Credit Enhancement Guarantee Certain of the Company’s senior housing facilities serve as collateral for $98 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 $366 million as of December 31, 2015 . 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): Annualized Number of Year Base Rent (1) Properties 2016 $ 2017 2018 2019 2020 Thereafter $ (1) Represents the most recent month’s base rent including additional rent floors and cash income from DFLs 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 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, 2015 , 201 4 and 201 3 was approximately $10 million, $8 million and $8 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, 2015 were as follows (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Equity
Equity | 12 Months Ended |
Dec. 31, 2015 | |
Equity | |
Equity | NOTE 13. Equity Common Stock On January 28, 2016, the Company announced that its Board declared a quarterly cash dividend of $0.575 per share. The common stock cash dividend will be paid on February 23 , 2016 to stockholders of record as of the close of business on February 8 , 2016. During the years ended December 31, 2015, 2014 and 2013, the Company declared and paid common stock cash dividends of $2.26 , $2.18 and $2.10 per share. In June 2015, the Company established an at-the-market equity offering program (“ATM Program”). Under this program, the Company may sell shares of its common stock from time to time having an aggregate gross sales price of up to $750 million through a consortium of banks acting as sales agents or directly to the banks acting as principals. During the year ended December 31, 2015, the Company issued 1.8 million shares of common stock at a weighted average price of $40.14 for proceeds of $73 million, net of fees and commissions of $1 million. The following is a summary of the Company’s other common stock activities (shares in thousands): Year Ended December 31, 2015 2014 2013 Dividend Reinvestment and Stock Purchase Plan Conversion of DownREIT units Exercise of stock options Vesting of restricted stock units Repurchase of common stock Accumulated Other Comprehensive Loss The following is a summary of the Company’s accumulated other comprehensive loss (in thousands): December 31, 2015 2014 Cumulative foreign currency translation adjustment $ $ Unrealized losses on cash flow hedges, net Supplemental Executive Retirement Plan minimum liability Unrealized gains on available for sale securities Total accumulated other comprehensive loss $ $ Noncontrolling Interests On October 7, 2015, the Company issued a 49% noncontrolling interest in HCP Ventures V to an institutional capital investor for $110 million. HCP Ventures V owns a portfolio of 11 on-campus MOBs located in Texas acquired through a sale-leaseback transaction with Memorial Hermann in June 2015 (see Note 4). At December 31, 2015, there were four million non-managing member units ( six million shares of HCP common stock are issuable upon conversion) outstanding in five DownREIT LLCs, in all of which the Company is the managing member. At December 31, 2015, the carrying and market values of the four million DownREIT units were $186 million and $229 million, respectively. See Note 20 for the supplemental schedule of non-cash financing activities. |
Segment Disclosures
Segment Disclosures | 12 Months Ended |
Dec. 31, 2015 | |
Segment Disclosures | |
Segment Disclosures | NOTE 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 medical office segment, the Company invests through the acquisition and development of MOBs, which generally require a greater level of property management. Otherwise, the Company primarily invests, through the acquisition and development of real estate, in single tenant and operator properties and debt issued by tenants and operators in these s ectors . 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, 2015, 2014 and 2013. The Company evaluates performance based upon (i) property net operating income from continuing operations (“NOI”), (ii) adjusted NOI (cash NOI), and (iii) adjusted NOI plus interest income (“Portfolio 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 evaluating the Company’s segment-level performance . See Note 23 for other information regarding concentrations of credit risk. Summary information for the reportable segments follows (in thousands): For the year ended December 31, 2015: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ (2) $ (2) $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) (2) (2) Adjusted (cash) NOI Interest income — — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Impairments Gain on sales of real estate Other income, net Income tax benefit Equity income in unconsolidated joint ventures Impairment of investments in unconsolidated joint ventures Net loss $ For the year ended December 31, 2014: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ $ $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) Adjusted (cash) NOI Interest income — — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Gain on sales of real estate Other income, net Income tax expense Equity income in unconsolidated joint ventures Impairment of investments in unconsolidated joint ventures Total discontinued operations Net income $ For the year ended December 31, 2013: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ $ $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) Adjusted (cash) NOI Interest income — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Other income, net Income tax expense Equity income in unconsolidated joint ventures Total discontinued operations Net income $ (1) Represents rental and related revenues, tenant recoveries, and income from DFLs. (2) See Note 6 for discussion of the Company’s HCRMC DFL investments (3) Represents straight-line rents, DFL accretion, amortization of market lease intangibles and lease termination fees . The Company’s total assets by segment were (in thousands): December 31, Segments 2015 2014 Senior housing $ $ Post-acute/skilled nursing Life science Medical office Hospital Gross segment assets Accumulated depreciation and amortization Net segment assets Other nonsegment assets Total assets $ $ At both December 31, 2015 and 2014, 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 du ring the fourth quarter of 2015 and no impairment was recognized based on the results of the Company’s procedures . |
Future Minimum Rents
Future Minimum Rents | 12 Months Ended |
Dec. 31, 2015 | |
Future Minimum Rents | |
Future Minimum Rents | NOTE 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, 2015 , are as follow (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Compensation Plans
Compensation Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation Plans | |
Compensation Plans | NOTE 16. Compensation Plans Stock Based Compensation On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (“the 2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan (“the 2014 Plan”) (collectively, “the Plans”). Following the adoption of the 2014 Plan, no new awards will be issued under the 2006 Plan. The Plans provide for the granting of stock-based compensation, including stock options, restricted stock and restricted stock units to officers, employees and directors in connection with their employment with or services provided to the Company. The maximum number of shares reserved for awards under the 2014 Plan is 33 million shares; as of December 31, 2015, approximately 32.4 million of the reserved shares under the 2014 Plan are available for future awards, and approximately 21.6 million shares may be issued as restricted stock and 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 three - to five -year period and have a 10 -year contractual term. Vesting of certain stock options may accelerate, as provided in the Plans or in the applicable award agreement, upon retirement, a change in control or other specified events. Upon the exercise, a participant is required to pay the exercise price of the stock options being exercised and the related tax withholding obligation. A summary of the stock option activity during 2015 is presented in the following table (dollars and shares in thousands, except per share amounts): Weighted Weighted Average Average Remaining Aggregate Shares Exercise Contractual Intrinsic Under Options Price Term (Years) Value Outstanding as of January 1, 2015 $ $ Exercised Cancelled Forfeited Outstanding as of December 31, 2015 Exercisable as of December 31, 2015 The following table summarizes additional information concerning outstanding and exercisable stock options at December 31, 2015 (shares in thousands): Currently Exercisable Weighted Weighted Average Weighted Average Remaining Average Range of Shares Under Exercise Contractual Shares Under Exercise Exercise Price Options Price Term (Years) Options Price $23.34 - $25.52 $ $ 27.11 - 28.35 31.95 - 46.92 The following table summarizes additional information concerning unvested stock options at December 31, 2015 (shares in thousands): Weighted Shares Average Under Grant Date Fair Options Value Unvested at January 1, 2015 $ Vested Forfeited Unvested at December 31, 2015 There were no grants of stock options for the fiscal year 2015. The weighted average fair value per share at the date of grant for stock options awarded during the years ended December 31, 2014 and 2013 was $3.80 and $5.89 , respectively. The total vesting date intrinsic value (at vesting) of shares under stock options vested during the years ended December 31, 2015, 2014 and 2013 was $1 million, $7 million and $12 million, respectively. The total intrinsic value of vested shares under stock options at December 31, 2015 was $5 million. Proceeds received from stock options exercised under the Plans for the years ended December 31, 2015, 2014 and 2013 were $28 million, $5 million and $18 million, respectively. The total intrinsic value (at exercise) of stock options exercised during the years ended December 31, 2015, 2014 and 2013 was $10 million, $3 million and $25 million, respectively. The fair value of the stock options granted during the years ended December 31, 2014 and 2013 was determined on the grant date utilizing a Black-Scholes valuation model, incorporating the market assumptions described below. The risk-free rate is based on the U.S. Treasury yield curve effective at the grant date. The expected life (estimated period of time outstanding) of the stock options granted was determined using the historical exercise behavior of employees and turnover rates. For stock options granted in 2014 and 2013, 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. The following table summarizes the Company’s stock option valuation assumptions used with respect to stock options awarded in 2014 and 2013: 2014 2013 Risk-free rate % % Expected life (in years) Expected volatility % % Expected dividend yield % % Restricted Stock and Performance Restricted Stock Units Under the Plans, restricted stock and performance restricted stock units generally have a contractual life or vest over one - to five -year periods. The vesting of certain restricted stock and performance restricted stock units may accelerate, as provided in the Plans or in the applicable award agreement, upon retirement, a change in control or other specified events. When vested, each restricted stock and performance restricted stock unit is convertible into one share of common stock. The restricted stock units are valued on the grant date based on the closing market price of the Company’s common stock on that date. The performance restricted stock units are valued utilizing a lattice-binomial option-pricing model based on Monte Carlo simulations as described below. Generally, the Company recognizes the fair value of the awards over the applicable vesting period as compensation expense. Upon exercise or payment of restricted stock and performance restricted stock units, the participant is required to pay the related tax withholding obligation. Participants can generally elect to have the Company reduce the number of common stock shares delivered to pay the employee tax withholding obligation. The value of the shares withheld is dependent on the closing market price of the Company’s common stock on the trading date prior to the relevant transaction occurring. During 2015, 2014 and 2013, the Company withheld 2 00,000 , 323,000 and 242,000 shares, respectively, to offset tax withholding obligations with respect to the restricted stock and performance restricted stock unit awards. The following table summarizes additional information concerning restricted stock and performance restricted stock units at December 31, 2015 (units and shares in thousands): Weighted Weighted Restricted Average Average Stock Grant Date Restricted Grant Date Units Fair Value Shares Fair Value Unvested at January 1, 2015 $ $ Granted — — Vested Forfeited — — Unvested at December 31, 2015 At December 31, 2015, the weighted average remaining vesting period of restricted stock and performance restricted stock units was one year. The total fair values (at vesting) of restricted stock and performance restricted stock units which vested for the years ended December 31, 2015, 2014 and 2013 were $21 million, $24 million and $22 million, respectively. Long-Term Incentive Plan Units (“LTIP”) 2015 Pursuant to the 2014 Plan and effective February 2, 2015, certain officers were granted 128,762 performance based units with three-year and one-year performance periods (“2015 3-Year LTIP Awards” and “2015 1-Year LTIP Awards,” respectively, and collectively, “the Awards”). The Awards had a grant date fair value of $6.9 million (fair value of the awards per target share for the 2015 3-Year LTIP Awards and the 2015 1-Year LTIP Awards were $54.97 and $50.82 , respectively). The fair value on the grant date was determined utilizing a lattice-binomial option-pricing model based on Monte Carlo simulations. The Awards vest based upon the total shareholder return (“TSR”) of the Company’s common stock relative to the TSRs of each of the other companies in the FTSE NAREIT Equity Health Care Index (the “NAREIT Index”). TSR for the Awards is measured over the performance periods: January 1, 2015 through December 31, 2015 for the 2015 1-Year LTIP Awards and January 1, 2015 through December 31, 2017 for the 2015 3-Year LTIP Awards. 2014 Pursuant to the 2006 Plan and effective February 3, 2014, certain officers were granted 176,088 performance based units (“2014 3 -Year LTIP Awards”). The 2014 3-Year LTIP Awards had a grant date fair value of $7.2 million (fair value of the awards per target share of $40.68 ) as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. Seventy percent of the 2014 3-Year LTIP Awards vest based upon the three -year TSR of the Company’s common stock relative to the TSRs of the MSCI US REIT Index ( 25% weight) and the NAREIT Index ( 75% weight). TSR for the 2014 3-Year LTIP Awards is measured over the performance period: January 1, 2014 through December 31, 2016. Thirty percent of the 2014 3-Year LTIP Awards vest based upon the Company’s Net Debt to Adjusted Pro Forma EBITDA over the performance period. The following table summarizes the Company’s performance based restricted stock valuation assumptions used with respect to awards issued in 2015 and 2014: 2015 2014 Expected volatility % % Risk-free rate % % Expected dividend yield % % Compensation expense is charged to earnings on a straight-line basis over the performance period. Following the end of the respective performance period, each participant will be issued shares of the Company’s common stock equal to the number of units granted to the participant multiplied by a percentage, ranging from zero to 200% , based on the outcome of the performance metrics for the applicable performance period, as described above. The participants will also be entitled to dividend equivalents for shares issued, which dividend equivalents represent any dividends that would have been paid with respect to such issued shares after the grant date of the awards and prior to the date of settlement. As the Company pays dividends on its outstanding common stock, holders of restricted stock awards are generally entitled to dividends on the underlying restricted shares, and holders of performance 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. 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: (i) 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; (ii) a lesser payment or award of cash or shares would have been made to the individual based upon the restated financial results; and (iii) 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, 2015, 2014 and 2013 was $26 million, $22 million and $40 million, respectively; included in 2013 is a $27 million charge recognized in general and administrative expenses resulting from the termination of the Company’s former chief executive officer (“CEO”) that was comprised of: (i) the acceleration of $17 million of deferred compensation for restricted stock units and stock options that vested upon termination; and (ii) severance payments and other costs of approximately $10 million; these vestings and severance payments were in accordance with the terms of the former CEO’s employment agreement. As of December 31, 2015, there was $19 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 the years ended December 31, 2015, 2014 and 2013, the Company’s matching contributions were approximately $1 million for each of the years then ended. |
Impairments
Impairments | 12 Months Ended |
Dec. 31, 2015 | |
Impairments | |
Impairments | NOTE 17. Impairments HCRMC During the three months ended December 31, 2015, the Company recorded an allowance for credit losses and impairment charge of $817 million related to its HCRMC DFL investments. The allowance for credit losses reduced the net carrying value of the HCRMC DFL investments from $6.0 billion to $5.2 billion, and was determined as the present value of expected future (i) in-place lease payments under the HCRMC Amended Master Lease and (ii) estimated market rate lease payments, each discounted at the original HCRMC DFL investments’ effective lease rate. Impairments related to an allowance for credit losses are included in impairments, net . The market rate lease payments were based on an income approach utilizing a discounted cash flow valuation model. The significant inputs to this valuation model include d forecasted EBITDAR (defined as earnings before interest, taxes, depreciation and amortization, and rent) , rent coverage ratios and real estate capitalization rates and are summarized as follows (dollars in thousands ): Post-acute/ Senior Housing Skilled nursing Description of Input(s) to the Valuation DFL Valuation Inputs DFL Valuation Inputs Range of EBITDAR $75,000 - $85,000 $385,000 - $435,000 Range of rent coverage ratio 1.05 x - 1.15 x 1.25 x - 1.35 x Range of real estate capitalization rate 6.25% - 7.2 5% 7.50% - 8.50% In determining which technique would be utilized to estimate fair value for the multiple elements of this valuation , the Company also considered the market approach, obtaining published investor survey and sales transaction data, where available. Investor survey and sales transaction data reviewed for similar transactions in similar marketplaces, included, but were not limited to, sales price per unit/bed, rent coverage ratios, revenue and operating expense growth rates, rent per unit/bed per month and real estate capitalization rates. The information obtained was consistent with the inputs and assumptions utilized by the selected income approach that was applied to this valuation. As of December 31, 2015, the Company concluded that its equity investment in HCRMC was other-than-temporarily impaired and recorded an impairment charge of $19 million , reducing its carrying value to zero (see Notes 6 and 8 ). A s of September 30, 2015, the Company concluded that its equity investment in HCRMC was other-than-temporarily impaired and recorded an impairment charge of $27 million. The impairment charge reduced the carrying amount of the Company’s equity investment in HCRMC from $48 million to its fair value of $21 million. The impairment determination primarily resulted from the Company’s review of HCRMC operating results and market and industry data which, among other factors, show ed a declining trend in admissions from hospitals and continuing trends in mix and length of stay driven by Medicare Advantage and other M anaged C are plans. The fair value of the Company’s equity investment in HCRMC was based on a discounted cash flow valuation model and inputs were considered to be Level 3 measurements within the fair value hierarchy. Inputs to this valuation model include d earnings multiples, discount rate, industry growth rates of revenue, operating expenses and facility occupancy, some of which influence the Company’s expectation of future cash flows from its equity investment in HCRMC and, accordingly, the fair value of its investment. The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model : Description of Input(s) to the Valuation Valuation Inputs Range of re venue growth rates (1) (1.8%) - 3.0% Range of occupancy growth rates (1) (0.8%) - 0.2% Range of operating expense growth rates (1) (1.1%) - 3.1% Discount rate 15.20% Range of earnings multiples 6.0x -7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. In March 2015, the Company recorded a n impairment charge of $478 million related to its HCRMC DFL investments (see Note 6). During the year ended December 31, 2014, the Company concluded that its equity investment in HCRMC was other-than-temporarily impaired and recorded an impairment charge of $36 million. The impairment charge reduced the carrying amount of the Company’s equity investment in HCRMC from $75 million to its fair value of $39 million. The impairment determination primarily resulted from the Company’s review of HCRMC’s preliminary base financial forecast for 2015, received in December 2014, together with HCRMC’s year-to-date operating results through November 2014. The preliminary base financial forecast and operating results primarily reflected a continued shift in patient payor sources from Medicare to Medicare Advantage, which negatively impacts reimbursement rates and length of stay for HCRMC’s skilled nursing segment. The fair value of the Company’s equity investment was based on a n income approach utilizing a discounted cash flow valuation model , and inputs were considered to be Level 3 measurements within the fair value hierarchy. Inputs to this valuation model include d earnings multiples, discount rate, industry growth rates of revenue, operating expenses and facility occupancy, some of which influence the Company’s expectation of future cash flows from its equity investment in HCRMC and, accordingly, the fair value of its investment. The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model: Description of Input(s) to the Valuation Valuation Inputs Range of revenue growth rates (1) (0.2%) - 3.5% Range of occupancy growth rates (1) (0.3%) - 0.2% Range of operating expense growth rates (1) 0.6% - 2.8% Discount rate 13.7% Range of earnings multiples 6.0x - 7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. In determining the fair value of our interest in HCRMC, the Company applied the above valuation inputs, which resulted in a range of fair values of its equity investment in HCRMC of $35 million to $44 million based on the range of earnings multiples. The Company elected to use the mid-point of the valuation results and recorded an impairment to reduce the carrying value of its equity investment in HCRMC to $39.5 million . Other In June 2015 and September 2015, the Company determined that its Four Seasons Notes (see Note 10) were other-than-temporarily impaired resulting from a continued decrease in the fair value of its investment. Although the Company does not intend to sell and does not believe it will be required to sell the Four Seasons Notes before their maturity, the Company determined that a credit loss existed resulting from several factors including: (i) deterioration in Four Seasons’ operating performance since the fourth quarter of 2014 and (ii) credit downgrades received during the first half of 2015. Accordingly, the Company recorded impairment charges during the three months ended June 30, 2015 and September 30, 2015 of $42 million and $70 million, respectively, reducing the carrying value of the Four Seasons Notes at September 30, 2015 to $100 million (£66 million). Elli remains obligated to repay the aggregate par value at maturity and interest payments due June 15 and December 15 each year. When the remaining semi-annual interest payments are received, the Company expects to reduce the carrying value of the Four Seasons Notes during the related fiscal period. The fair value of the Four Seasons Notes used to calculate the impairment charge was based on quoted market prices. However, because the Four Seasons Notes are not actively traded, these prices are considered to be Level 2 measurements within the fair value hierarchy. When calculating the fair value and determining whether a credit loss existed, the Company also evaluated Four Season’s ability to repay the Four Seasons Notes according to their contractual terms based on its estimate of future cash flows. The estimated future cash flow inputs included forecasted revenues, capital expenditures, operating expenses, care home occupancy and continued implementation of Four Seasons’ business plan which includes executing on its business line segmentation and continuing to invest in its core real estate portfolio. This information was consistent with the results of the valuation technique used by the Company to determine if a credit loss existed and to calculate the fair value of the Four Seasons Notes during its impairment review. In June 2015, the Company determined a MOB was impaired and recognized an impairment charge of $3 million, which reduced the carrying value of the Company’s investment to $400,000 . The fair value of the MOB was based on its projected sales prices, which was considered to be a Level 2 measurement within the fair value hierarchy. In July 2015, the Company sold the MOB for $400,000 (see Note 5). 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. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes | |
Income Taxes | NOTE 18. Income Taxes The Company has elected to be taxed as a REIT under the applicable provisions of the Code for every year beginning with the year ended December 31, 1985. The Company has also elected for certain of its subsidiaries to be treated as taxable REIT subsidiaries (“TRS” or “TRS entities”) which are subject to federal and state income taxes. All entities other than the TRS entities are collectively referred to as the “REIT” within this Note 18. Certain REIT entities are also subject to state, local and foreign income taxes. The TRS entities subject to tax reported losses before income taxes of $22 million and $2 million for the years ended December 31, 2015 and 2014, respectively, and income before income taxes of $10 million for the year ended December 31, 2013. The REIT’s losses before income taxes from the U.K. were $15 million and $4 million for the years ended December 31, 2015, and 2014, respectively. The total income tax (benefit) expense from continuing operations consists of the following components (in thousands): Year Ended December 31, 2015 2014 2013 Current Federal $ $ $ State Foreign — Total current $ $ $ Deferred Federal $ $ $ State Foreign — Total deferred $ $ $ Total income tax (benefit) expense $ $ $ The Company’s income tax expense from discontinued operations was insignificant for the years ended December 31, 2014 and 2013. The following table reconciles the income tax expense at statutory rates to the actual income tax expense recorded (in thousands): Year Ended December 31, 2015 2014 2013 Tax (benefit) expense at U.S. federal statutory income tax rate on income or loss subject to tax $ $ $ State income tax expense, net of federal tax Gross receipts and margin taxes Foreign rate differential — Effect of permanent differences Return to provision adjustments Increase in valuation allowance — Total income tax (benefit) expense $ $ $ Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2015 2014 2013 Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets, and the treatment of interest and certain costs $ $ $ Net operating loss carryforward Expense accruals and other Valuation allowance — Net deferred tax assets $ $ $ Deferred tax assets and liabilities are included in other assets, net and accounts payable and accrued liabilities. At December 31, 2015 the Company had a net operating loss (“NOL”) carryforward of $10 million related to the TRS entities. These amounts can be used to offset future taxable income, if any. The NOL carryforwards begin to expire in 2033 with respect to the TRS entities. The Company records a valuation allowance against deferred tax assets in certain jurisdictions when it cannot sustain a conclusion that it is more likely than not that it can realize the deferred tax assets during the periods in which these temporary differences become deductible. The deferred tax asset valuation allowance is adequate to reduce the total deferred tax assets to an amount that the Company estimates will “more-likely-than-not” be realized. The C ompany 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 2012. For each of the years ended December 31, 2015 and 2014, the tax basis of the Company’s net assets is less than the reported amounts by $ 6.5 billion. The difference between the reported amounts and the tax basis is primarily related to the Slough Estates USA, Inc. (“SEUSA”) and HCRMC acquisitions, which occurred in 2007 and 2011, respectively. Both SEUSA and HCRMC 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 HCRMC, including the tax basis in the acquired companies’ assets and liabilities. The Company generally will be subject to a federal corporate-level tax on any taxable disposition of HCRMC pre-acquisition assets that occur within five years after its April 7, 2011 acquisition. The corporate-level tax associated with the disposition of assets acquired in connection with the HCRMC acquisition would be assessed only to the extent of the built-in gain that existed on the date of the acquisition, based on the fair market value of the assets on April 7, 2011. The Company has not and does not expect to dispose of any assets 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 five years after the acquisition will not be subject to a federal corporate-level tax. However, gains from asset dispositions occurring within ten years after the SEUSA and HCRMC acquisitions may be subject to corporate-level tax in some states. F rom time to time, the Company may dispose of SEUSA or HCRMC assets before the applicable built-in gain holding period if it is able to effect a tax deferred exchange. In connection with the HCRMC acquisition, the Company assumed unrecognized tax benefits of $2 million. For each of the years ended December 31, 2014 and 2013, the Company had a decrease in unrecognized tax benefits of $1 million. There were no unrecognized tax benefits balances at December 31, 2015 and 2014. A reconciliation of the Company’s beginning and ending unrecognized tax benefits follows (in thousands): Amount Balance at January 1, 2013 $ Reductions based on prior years’ tax positions Additions based on 2013 tax positions — Balance at December 31, 2013 Reductions based on prior years’ tax positions Additions based on 2014 tax positions — Balance at December 31, 2014 $ — During the year ended December 31, 2014, the Company reversed the entire balance of the interest expense associated with the unrecognized tax benefits assumed in connection with the acquisition of HCRMC. The amount reversed was insignificant and it was due to the lapse in the statute of limitations. For the year ended December 31, 2013, the Company recorded insignificant net increases to interest expense associated with the unrecognized tax benefits. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Common Share | |
Earnings Per Common Share | NOTE 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, 2015 2014 2013 Numerator (Loss) income from continuing operations $ $ $ Noncontrolling interests’ share in continuing operations (Loss) income from continuing operations applicable to HCP, Inc. Participating securities’ share in continuing operations (Loss) income from continuing operations applicable to common shares Discontinued operations — Noncontrolling interests’ share in discontinued operations — Net (loss) income applicable to common shares $ $ $ Denominator Basic weighted average common shares Dilutive potential common shares — Diluted weighted average common shares Basic earnings per common share (Loss) income from continuing operations $ $ $ Discontinued operations — Net (loss) income applicable to common stockholders $ $ $ Diluted earnings per common share (Loss) income from continuing operations $ $ $ Discontinued operations — Net (loss) income applicable to common shares $ $ $ Restricted stock and certain performance restricted stock units are considered participating securities, because dividend payments are not forfeited even if the underlying share-based award does not vest, and require the use of the two-class method when computing basic and diluted earnings per share. For the year ended December 31, 2015, the Company generated a net loss . T he weighted-average basic shares outstanding was used in calculating diluted loss per share from continuing operations, as using diluted shares would be anti-dilutive to loss per share. Options to purchase approximately 1.4 million and 800,000 shares of common stock that had exercise prices in excess of the average market price of the common stock during the years ended December 31, 2014 and 2013, respectively, were not included because they are anti-dilutive. Additionally, six million shares issuable upon conversion of four million DownREIT units during the years ended December 31, 2014 and 2013 were not included because they are anti-dilutive. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Information | |
Supplemental Cash Flow Information | NOTE 20. Supplemental Cash Flow Information Supplemental cash flow information follows (in thousands): Year Ended December 31, 2015 2014 2013 Supplemental cash flow information: Interest paid, net of capitalized interest $ $ $ Income taxes paid Capitalized interest Supplemental disclosure of non-cash investing activities: Accrued construction costs Settlement of loans receivable as consideration for real estate acquisition — — Loan originated in connection with Brookdale Transaction — — Real estate contributed to CCRC JV — — Fair value of real estate acquired in exchange for sale of real estate — Tenant funded tenant improvements owned by HCP — Reclassification of the in-place leases from real estate to DFLs — — Supplemental disclosure of non-cash financing activities: Vesting of restricted stock units Cancellation of restricted stock — Conversion of non-managing member units into common stock Noncontrolling interest and other liabilities, net assumed in connection with the RIDEA III acquisition — — Noncontrolling interest issued in connection with Brookdale Transaction — — Noncontrolling interests issued in connection with real estate and other acquisitions — Noncontrolling interest assumed in connection with real estate disposition — — Mortgages and other liabilities assumed with real estate acquisitions Foreign currency translation adjustment Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net See discussions related to the Brookdale Transaction discussed in Note 3. |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2015 | |
Variable Interest Entities | |
Variable Interest Entities | NOTE 21. Variable Interest Entities Unconsolidated Variable Interest Entities At December 31, 2015, the Company had investments in: (i) t hree unconsolidated VIE joint ventures; (ii) 366 properties leased to VIE tenants; and ( iii ) marketable debt securities of two VIE borrowers. The Company has determined that it is not the primary beneficiary of these VIEs. The Company does not consolidate these VIEs because it does not have the ability to control the activities that most significantly impact their economic performance. Except for the Company’s equity interest in the unconsolidated joint ventures (CCRC OpCo , HCRMC OpCo and Vintage Park discussed below), the Company has no formal involvement in these VIEs beyond its investments. The Company leased 318 properties to, and has an equity ownership investment in, HCRMC that has been identified as a VIE upon a reconsideration event in the fourth quarter of 2015. HCRMC has experienced continued operational declines and is a “thinly capitalized” entity that relies on the operating cash flows generated from its senior housing and post-acute facilities to fund operating expenses, including the rent obligations under the Amended Ma s ter Lease (see Notes 6, 8 and 17). The Company lease s 48 properties to a total of seven tenants that have been identified as VIEs (“VIE tenants”) .T hese VIE tenants are “thinly capitalized” entities that rely on the operating cash flows generated from the senior housing facilities to pay operating expenses, including the rent obligations under their leases. The Company holds a 49% ownership interest in CCRC OpCo, a joint venture entity formed in August 2014 that operates senior housing properties in a RIDEA structure, that has been identified as a VIE (see Notes 3 and 8). The equity members of CCRC OpCo “lack power” because they share certain operating rights with Brookdale as manager of the CCRCs. The assets of CCRC OpCo primarily consist of the CCRCs that it owns and leases, resident fees receivable, notes receivable, and cash and cash equivalents; its obligations primarily consist of operating lease obligations to CCRC PropCo and accounts payable and expense accruals associated with the cost of its CCRCs’ operations. Assets generated by the CCRC operations (primarily rents from CCRC residents) of CCRC OpCo may only be used to settle its contractual obligations (primarily the rental costs and operating expenses incurred to manage such facilities). The Company holds an 85% ownership interest in Vintage Park (see Note 8) that has been identified as a VIE. Although power is shared among equity members, one equity member does not have a substantive investment in the entity. The assets of Vintage Park primarily consist of an in-progress independent living facility development project that it owns and cash and cash equivalents; its obligations primarily consist of accounts payable and expense accruals associated with the cost of the development obligations. Any assets generated by Vintage Park may only be used to settle its contractual obligations (primarily development expenses and debt service payments ) . The Company holds Four Seasons Notes (see Note 10) and a portion of Four Season’s senior secured term loan (see Note 7) . In the second quarter of 2015, upon the occurrence of a reconsideration event, it was determined that the issu er of the Four Seasons Notes was a VIE because th e entity was “thinly capitalized” (see Note 17). The Company holds commercial mortgage-backed securities (“CMBS”) issued by Federal Home Loan Mortgage Corporation (“Freddie MAC”) through a special purpose entity that has been identified as a VIE bec ause it is “thinly capitalized.” The CMBS issued by the VIE are backed by mortgage debt obligations on real estate assets. The classification of the related assets and liabilities and their maximum loss exposure as a result of the Company’s involvement with these VIEs at December 31, 2015 are presented below (in thousands): Maximum Loss Carrying VIE Type Exposure (1) Asset/Liability Type Amount HCRMC $ Net investment in DFLs and investments in unconsolidated joint ventures $ VIE tenants—DFLs Net investment in DFLs VIE tenants—operating leases Lease intangibles, net and straight-line rent receivables CCRC OpCo Investments in unconsolidated joint ventures Vintage Park Investments in unconsolidated joint ventures Four Seasons Loans and marketable debt securities CMBS Marketable debt securities (1) The Company’s maximum loss exposure related to VIE tenants, CCRC OpCo, Vintage Park, and loans and marketable debt securities to VIE borrowers represents the aggregate carrying amount of such investments (including accrued interest). The Company’s maximum loss exposure may be mitigated by re-leasing the underlying properties to new tenants upon an event of default. A s of December 31, 2015, 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 3, 6, 7, 8, 10 and 12 for additional descriptions of the nature, purpose and operating activities of the Company’s unconsolidated VIEs and interests therein. Consolidated Variable Interest Entities RIDEA I . The Company holds a 90% ownership interest in a joint venture entity formed in September 2011 that operates senior housing properties in a RIDEA structure (“RIDEA I OpCo”). The Company consolidates RIDEA I OpCo as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of RIDEA I OpCo primarily consist of leasehold interests in senior housing facilities (operating leases), resident fees receivable, and cash and cash equivalents; its obligations primarily consist of lease payments to a non-VIE consolidated subsidiary of the Company and operating expenses of its senior housing facilities (accounts payable and accrued expenses). Assets generated by the senior housing operations (primarily from senior housing resident rents) of RIDEA I OpCo may only be used to settle its contractual obligations (primarily from the rental costs and operating expenses incurred to manage such facilities). RIDEA II . The Company holds an 80% ownership interest in joint venture entities formed in August 2014 that own and operate senior housing properties in a RIDEA structure (“RIDEA II”). The Company consolidates RIDEA II (“SH PropCo” and “SH OpCo”) as the primary beneficiary because it has the ability to control the activities that most significantly impact these VIEs’ economic performance. The assets of SH PropCo primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of a note payable to a non-VIE consolidated subsidiary of the Company. The assets of SH OpCo primarily consist of leasehold interests in senior housing facilities (operating leases), resident fees receivable, and cash and cash equivalents; its obligations primarily consist of lease payments to SH PropCo and operating expenses of its senior housing facilities (accounts payable and accrued expenses). Assets generated by the senior housing operations (primarily from senior housing resident rents) of the RIDEA II structure may only be used to settle its contractual obligations (primarily from the rental costs and operating expenses incurred to manage such facilities ) . RIDEA III . The Company holds a 90% ownership interest in a joint venture entity formed in June 2015 that operates senior housing properties in a RIDEA structure (“RIDEA III OpCo”). The Company consolidates RIDEA III OpCo as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of RIDEA III OpCo primarily consist of leasehold interests in senior housing facilities (operating leases), resident fees receivable, and cash and cash equivalents; its obligations primarily consist of lease payments to a non-VIE consolidated subsidiary of the Company and operating expenses of its senior housing facilities (accounts payable and accrued expenses). Assets generated by the senior housing operations (primarily from senior housing resident rents) of RIDEA III OpCo may only be used to settle its contractual obligations (primarily from the rental costs and operating expenses incurred to manage such facilities ) . Other consolidated VIEs . The Company made a loan to an entity that entered into a tax credit structure (“Tax Credit Subsidiary”) and a loan to an entity that made an investment in a development joint venture (“Development JV”) both of which are considered VIEs. The Company consolidates the Tax Credit Subsidiary and Development JV because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the VIEs’ economic performance. The assets and liabilities of the Tax Credit Subsidiary and Development JV substantially consist of development in progress, notes receivable, prepaid expenses, notes payable, and accounts payable and accrued liabilities generated from their operating activities. Any assets generated by the operating activities of the Tax Credit Subsidiary and Development JV may only be used to settle their contractual obligations. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements | |
Fair Value Measurements | NOTE 22. Fair Value Measurements The following table illustrates the Company’s financial assets and liabilities measured at fair value on a recurring basis at December 31, 2015 in the consolidated balance sheets (in thousands): Financial assets and liabilities Fair Value Level 1 Level 2 Level 3 Marketable equity securities $ $ $ — $ — Interest-rate swap asset (1) — — Interest-rate swap liabilities (1) — — Currency swap assets (1) — — Warrants (1) — — (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. Recognized gains and losses are recorded in other income, net on the Company’s consolidated statements of operations . In September 2015, the Company exercised $2 million of warrants classified as Level 3 within the fair value hierarchy in exchange for marketable equity securities classified as Level 1. During the year ended December 31, 2015, there were no other transfers of financial assets or liabilities within the fair value hierarchy. Disclosures About Fair Value of Financial Instruments Cash and cash equivalents, restricted cash, accounts receivable, net, and accounts payable and accrued liabilities. The carrying values are reasonable estimates of fair value because of the short-term maturities of these instruments. Loans receivable, net and mortgage debt. The fair values are based on discounting future cash flows utilizing current market rates for loans and debt of the same type and remaining maturity. Marketable debt securities. The fair value is based on quoted prices from inactive markets. Marketable equity securities and senior unsecured notes. The fair values are based on quoted prices in active markets. Warrants. The fair value is based on significant unobservable market inputs utilizing standardized derivative pricing models. Bank line of credit, term loans and other debt. The carrying values are a reasonable estimate of fair value because the borrowings are primarily based on market interest rates and the Company’s current credit ratings. Interest-rate swaps. The fair value is based on observable inputs utilizing standardized pricing models that consider forward yield curves and discount rates which are observable in active and inactive markets. Currency swaps. The fair value is based on observable inputs utilizing standardized pricing models that consider the future value of the currency exchange rates, comprised of current spot and traded forward points, and calculating a present value of the net amount using discount rates based on observable traded interest rates. The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2015 2014 Carrying Carrying Amount Fair Value Amount Fair Value Loans receivable, net (2) $ $ $ $ Marketable debt securities (2) Marketable equity securities (1) Warrants (3) Bank line of credit (2) Term loans (2) Senior unsecured notes (1) Mortgage debt (2) Other debt (2) Interest-rate swap asset (2) Interest-rate swap liabilit ies ( 2) Currency swap assets (2) (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 standardized pricing models 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. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2015 | |
Concentration of Credit Risk | |
Concentration of Credit Risk | NOTE 23. Concentration of Credit Risk Concentrations of credit risk arise when one or more tenants, operators 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 tenants and operators; the information provided is presented for the gross assets and revenues that are associated with certain tenants and operators as percentages of their respective segment’s and total Company’s gross assets and revenues: Percentage of Percentage of Senior Housing Gross Assets Senior Housing Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 Brookdale (1) HCRMC Percentage of Post-Acute/ Percentage of Post-Acute/ Skilled Nursing Gross Assets Skilled Nursing Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 HCRMC Percentage of Total Percentage of Company Gross Assets Total Company Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 HCRMC Brookdale (1) (1) On July 31, 2014, Brookdale completed its acquisition of Emeritus. These percentages of segment gross assets, total gross assets, segment revenues and total revenues, for all periods presented are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of the beginning of the periods presented. On August 29, 2014, the Company and Brookdale amended or terminated all former leases with Emeritus and entered into two RIDEA joint ventures (see Note 3). Percentages do not include senior housing facilities that Brookdale manages (is not a tenant) under a RIDEA structure. For discussions of significant HCRMC updates and performance during 2015, see Notes 6, 8 and 17. As of December 31, 2015, Brookdale provided comprehensive facility management and accounting services with respect to 108 of the Company’s senior housing facilities and 15 CCRCs owned by the CCRC JV, for which the Company or joint venture pay annual management fees pursuant to long-term management agreements. Most of the management agreements have terms ranging from 10 to 15 years, with three to four 5 -year renewals. The base management fees are 4.5% to 5.0% of gross revenues (as defined) generated by the RIDEA facilities. In addition, there are incentive management fees payable to Brookdale if operating results of the RIDEA properties exceed pre-established EBITDAR (as defined) thresholds. Brookdale is subject to the registration and reporting requirements of the U.S. Securities and Exchange Commission (“SEC”) and is required to file with the SEC annual reports containing audited financial information and quarterly reports containing unaudited financial information. The information related to Brookdale contained or referred to in this report has been derived from SEC filings made by Brookdale or other publicly available information, or was provided to the Company by Brookdale, and the Company has not verified this information through an independent investigation or otherwise. The Company has no reason to believe that this information is inaccurate in any material respect, but the Company cannot assure the reader of its accuracy. The Company is providing this data for informational purposes only, and encourages the reader to obtain Brookdale’s publicly available filings, which can be found at the SEC’s website at www.sec.gov . To mitigate the 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, 2015 and 2014, the Company’s gross real estate assets in the state of California represented approximately 24% and 23% of the Company’s total gross assets , respectively . At December 31, 2015 and 201 4 , the Company’s gross real estate assets in the state of Texas represented approximately 11% and 13% of the Company’s total gross assets , respectively . For the years ended December 31, 2015, 2014 and 2013, the Company’s revenues derived from properties located in the states of California represented approximately 22% , 23% and 21% of the Company’s total revenues, respectively. For the years ended December 31, 2015, 2014 and 2013, the Company’s revenues derived from properties located in the state of Texas represented approximately 13% , 12% and 11% of the Company’s total revenues, respectively. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Financial Instruments | |
Derivative Financial Instruments | NOTE 24. Derivative Financial Instruments The following table summarizes the Company’s outstanding interest-rate and foreign currency swap contracts as of December 31, 2015 (dollars and GBP in thousands): Fixed Hedge Rate/Buy Notional/Sell Date Entered Maturity Date Designation Amount Floating/Exchange Rate Index Amount Fair Value (1) Interest rate: July 2005 (2) July 2020 Cash Flow % BMA Swap Index $ $ November 2008 (3) October 2016 Cash Flow % 1 Month LIBOR+ 1.50% $ July 2012 (4) June 2016 Cash Flow % 1 Month GBP LIBOR+ 1.20% £ January 2015 (4) October 2017 Cash Flow % 1 Month GBP LIBOR+ 0.975% £ Foreign currency: July 2012 (5) June 2016 N/A $ Buy USD/Sell GBP £ January 2015 (6) October 2017 Cash Flow $ Buy USD/Sell GBP £ (1) Derivative assets are recorded in other assets, net and derivative liabilities are recorded in accounts payable and accrued liabilities on the consolidated balance sheets . (2) Represents three interest-rate swap contracts, which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows . (3) Represents an interest-rate swap contract, that hedges the fluctuation in interest payments on variable-rate secured debt due to overall changes in hedged cash flows (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 a currency swap to sell £7.2 million at a rate of 1.5695 in June 2016. (6) Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to the Company’s forecasted GBP denominated interest receipts on its HC-One Facility. Represents a currency swap to sell approximately £1.0 million monthly at a rate of 1.5149 through October 2017. 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. 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, 2015 , the Company does not anticipate non-performance by the counterparties to its outstanding derivative contracts. As of December 31 , 2015, the Company designated £268 million of its GBP-denominated borrowings under the Facility and 2012 term loan as a hedge of a portion of the Company’s net investments in GBP-functional subsidiaries to mitigate its exposure to fluctuations in the GBP to USD exchange rate. For instruments that are designated and qualify as net investment hedges, the variability in the foreign currency to USD exchange rate of the instrument is recorded as part of the cumulative translation adjustment component of a ccumulated other c omprehensive i ncome ( l oss). Accordingly, the remeasurement value of the designated £26 8 million GBP-denominated borrowings due to fluctuations in the GBP to USD exchange rate are reported in a ccumulated other c omprehensive i ncome ( l oss) as the hedging relationship is considered to be effective. The cumulative balance of the remeasurement value will be reclassified to earnings when the hedged investment is sold or substantially liquidated . In December 2010, the Company assumed a cash flow hedge as part of a real estate acquisition. During the year s ended December 31, 2015 and 2014, the Company determined a portion of the hedge was ineffective and reclassified $500,000 and $2 million , respectively, of unrealized gains related to this interest-rate swap contract into other income, net. 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 Four Seasons N otes (see 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 interest receipts denominated in GBP. The foreign currency swap contract matures in June 2016 (the end of the non-call period of the Four Seasons N otes). In September 2015, the Company ceased hedge accounting on this foreign currency swap contract and reclassified $0.5 million from a ccumulated other c omprehensive i ncome ( l oss ) to other i ncome, net, and all future changes in fair value of the foreign currency swap contract will be recognized in earnings . The fair value of the contract at December 31, 2015 was $0. 7 million and is included in other assets, net. 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 2012 Term Loan due to fluctuations in the underlying benchmark interest rate (see Note 11). The cash flow hedge has a notional amount of £137 million and expires in June 2016. On January 12, 2015, the Company entered into an interest-rate swap contract that is designated as hedging the interest payments on its GBP denominated 2015 Term Loan due to fluctuations in the underlying benchmark interest rate (see Note 11). The cash flow hedge has a notional amount of £220 million and matures in October 2017 . On January 12, 2015, the Company entered into a foreign currency swap contract to hedge the foreign currency exchange risk related to a portion of the forecasted GBP interest receipts from its HC-One Facility (see Note 7). The cash flow hedge has a fixed GBP/USD exchange rate of 1.5149 (buy approximately $1.5 million and sell £1.0 million monthly) and matures in October 2017 . For the year ended December 31, 2015 , the Company earned reduced interest income of $0.1 million and recognized additional interest expense of $4 million, resulting from its cash flow hedging relationships. At December 31, 2015 , 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 income ( loss ) are expected to be reclassified to earnings. During year ended December 31, 2015 , there were no ineffective portions related to outstanding hedges, other than those discussed above. To illustrate the effect of movements in the interest rate and foreign currency markets, the Company performed a market sensitivity analysis on its outstanding derivative financial 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 +50 Basis −50 Basis +100 Basis −100 Basis Date Entered Maturity Date Points Points Points Points Interest rates: July 2005 July 2020 $ $ $ $ November 2008 October 2016 July 2012 June 2016 January 2015 October 2017 Foreign currency: July 2012 June 2016 January 2015 October 2017 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Selected Quarterly Financial Data (Unaudited) | |
Selected Quarterly Financial Data (Unaudited) | NOTE 2 5 . Selected Quarterly Financial Data (Unaudited) Selected quarterly information for the years ended December 31, 2015 and 201 4 is as follows (in thous ands, except per share amounts) : Three Months Ended During 2015 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ (Loss) income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures Net (loss) income Net (loss) income applicable to HCP, Inc. Dividends paid per common share Basic earnings per common share Diluted earnings per common share Three Months Ended During 2014 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures Total discontinued operations — — — Net income Net income applicable to HCP, Inc. Dividends paid per common share Basic earnings per common share Diluted earnings per common share |
Schedule II_ Valuation and Qual
Schedule II: Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Schedule II: Valuation and Qualifying Accounts | |
Schedule II: Valuation and Qualifying Accounts | Schedule II: Valuation and Qualifying Accounts Allowance Accounts (1) Additions Deductions Amounts Balance at Charged Uncollectible Year Ended Beginning of Against Acquired Accounts Disposed Balance at December 31, Year Operations, net Properties Written-off Properties End of Year 2015 $ $ $ — $ $ $ 2014 — 2013 — — (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 |
Dec. 31, 2015 | |
Schedule III: Real Estate and Accumulated Depreciation | |
Schedule III: Real Estate and Accumulated Depreciation | Schedule III: Real Estate and Accumulated Depreciation Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed Senior housing 1107 Huntsville AL $ — $ $ $ — $ $ $ $ 2366 Little Rock AR — 0786 Douglas AZ — — 2384 Prescott AZ — 1974 Sun City AZ 0518 Tucson AZ — — 1238 Beverly Hills CA — 2362 Camarillo CA — 2352 Carlsbad CA — 0883 Carmichael CA — — 2204 Chino Hills CA — — 0851 Citrus Heights CA — — 2092 Clearlake CA — 0790 Concord CA — 2399 Corona CA — 0787 Dana Point CA — — 2364 Elk Grove CA — 0798 Escondido CA — 2054 Fortuna CA — 2079 Fortuna CA — 0791 Fremont CA — 1965 Fresno CA 0788 Granada Hills CA — — 0856 Irvine CA — — 0227 Lodi CA — 0226 Murietta CA — 1165 Northridge CA — 1561 Orangevale CA — 1168 Palm Springs CA — 0789 Pleasant Hill CA — 2369 Rancho Mirage CA — 2128 Red Bluff CA — — — — 2205 Roseville CA — — 2380 Roseville CA — 2353 San Diego CA — 1007 San Dimas CA — 2354 San Juan Capistrano CA — 1167 Santa Rosa CA — 0793 South San Francisco CA — 1966 Sun City CA 0792 Ventura CA — 1155 Yorba Linda CA — 2055 Yreka CA — 2505 Arvada CO — 2506 Boulder CO — 2373 Colorado Springs CO — 2146 Denver CO — 2515 Denver CO — 0512 Denver CO — 1233 Denver CO — 2507 Englewood CO — 1000 Greenwood Village CO — 2508 Lakewood CO — 2509 Lakewood CO — 1234 Lakewood CO — 2091 Montrose CO — 2085 Glastonbury CT — 2144 Glastonbury CT — 0730 Torrington CT — 2355 Woodbridge CT — 2519 Altamonte Springs FL — 2521 Altamonte Springs FL — — — — 0861 Apopka FL — 0852 Boca Raton FL — 1001 Boca Raton FL — 1963 Boynton Beach FL 1964 Boynton Beach FL 0544 Boynton Beach FL — 2520 Clearwater FL — 0746 Clearwater FL — 0862 Clermont FL — 1002 Coconut Creek FL — 0492 Delray Beach FL — 2517 Ft Lauderdale FL — 2351 Gainesville FL — 1095 Gainesville FL — — 2437 Jacksonville FL — 0490 Jacksonville FL 1096 Jacksonville FL — — 2518 Lake Worth FL — 0855 Lantana FL — — 1968 Largo FL 2522 Lutz FL — 0731 Ocoee FL — 2523 Orange City FL — 0859 Oviedo FL — 1970 Palm Beach Gardens FL 1017 Palm Harbor FL — 0732 Port Orange FL — 2524 Port St Lucie FL — 1971 Sarasota FL 2525 Sarasota FL — 2194 Springtree FL — 0802 St. Augustine FL — 1097 Tallahassee FL — — 2526 Tamarac FL — 0224 Tampa FL — 0849 Tampa FL — 2513 Venice FL — 1605 Vero Beach FL — — 2527 Vero Beach FL — 1257 Vero Beach FL — 1976 West Palm Beach FL — 1098 Alpharetta GA — 2370 Atlanta GA — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 1099 Atlanta GA — 2108 Buford GA — 2109 Buford GA — 2388 Buford GA — 2053 Canton GA — 2165 Hartwell GA — 2066 Lawrenceville GA — 1241 Lilburn GA — 2167 Lithia Springs GA — 2105 Macon GA — 2395 Marietta GA — 1112 Marietta GA — 2086 Newnan GA — 2118 Woodstock GA — 2157 Woodstock GA — 1088 Davenport IA — — 1093 Marion IA — — 2397 Sioux City IA — 1091 Bloomington IL — 2375 Burr Ridge IL — 1089 Champaign IL — 2200 Deer Park 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 — — 2376 Prospect Heights IL — 2367 Schaumburg IL — 1952 Vernon Hills IL 1237 Wilmette IL — — 0379 Evansville IN — — 1144 Indianapolis IN — — 0457 Jasper IN — 2047 Kokomo IN — — 1146 West Lafayette IN — — 2371 Edgewood KY — 0697 Lexington KY — — 1105 Louisville KY — 2115 Murray KY — 2135 Paducah KY — 2358 Danvers MA — 2363 Dartmouth MA — 2357 Dedham MA — 1158 Plymouth MA — 2365 Baltimore MD — 1249 Frederick MD — 2541 Olney MD — — 2356 Pikesville MD — 0281 Westminster MD — 0546 Cape Elizabeth ME — 0545 Saco ME — 1258 Auburn Hills MI — — 1248 Farmington Hills MI — 1094 Portage MI — 2435 Southfield MI — 0472 Sterling Heights MI — — 1259 Sterling Heights MI — — 2143 Champlin MN — 1235 Des Peres MO — — 1236 Richmond Heights MO — — 0853 St. Louis MO — — 2081 St. Peters MO — 2074 Oxford MS — 0842 Great Falls MT — — 2163 Great Falls MT — 0878 Charlotte NC — — 2374 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 — 0734 Hillsborough NJ — 1242 Madison NJ — 0733 Manahawkin NJ — 2359 Paramus NJ — 1231 Saddle River NJ — 0245 Voorhees Township NJ — 0213 Albuquerque NM — — 2387 Albuquerque NM — 2161 Rio Rancho NM — 2121 Roswell NM — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2150 Roswell NM — 0796 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 — — 2436 Bedford OH — 2516 Centerville OH — 2512 Cincinnati OH — 0473 Cincinnati OH — — 0841 Columbus OH — 0857 Fairborn OH — 1147 Fairborn OH — 1386 Marietta OH — 1159 Willoughby OH — 1253 Youngstown OH — 2158 Broken Arrow OK — 2122 Muskogee OK — 2083 Oklahoma City OK — 2372 Oklahoma City OK — 2383 Oklahoma City OK — 2070 Tahlequah OK — 1160 Tulsa OK — 2130 Ashland OR — — — 2103 Eagle Point OR — 2098 Eugene OR — 2104 Eugene OR — 2390 Grants Pass OR — 2391 Grants Pass OR — 2392 Grants Pass OR — 2393 Grants Pass OR — 2139 Gresham OR — 2182 Hermiston Terrace OR — 2131 Keizer OR — 2140 Lebanon OR — 2152 Mcminnville OR — 2090 Monmouth OR — 2106 Monmouth OR — 2089 Newberg OR — 2133 Portland OR — 2151 Portland OR — 2171 Portland OR — — — 2050 Redmond 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 2511 Johnston 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 — 0306 Georgetown SC — — 0879 Greenville SC — — 1172 Greenville SC — 2059 Greenville SC — 2099 Hilton Head Island SC — 2111 Hilton Head Island SC — 2112 Hilton Head Island SC — 0305 Lancaster SC — — 0880 Myrtle Beach SC — — 0312 Rock Hill SC — — 1113 Rock Hill SC — 2076 Rock Hill SC — 2093 Rock Hill SC — 0313 Sumter SC — — 2067 West Columbia SC — 2132 Cordova TN — 2060 Franklin TN — 2401 Germantown TN — 2385 Hendersonville TN — 2073 Kingsport TN — 2381 Memphis TN — 2439 Memphis TN — 1003 Nashville TN 2094 Nashville TN — 0860 Oak Ridge TN — 0843 Abilene TX — — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income State/ Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City Country December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2107 Amarillo TX — 1004 Arlington TX — 1116 Arlington TX — 0511 Austin TX — — 2377 Austin TX — 2531 Austin TX — 0202 Beaumont TX — — 2075 Bedford TX — 0844 Burleson TX — — 0848 Cedar Hill TX — — 1325 Cedar Hill TX — — 2396 Dallas TX — 2438 Dallas TX — 0513 Fort Worth TX — — 0506 Friendswood TX — 2528 Graham TX — 2529 Grand Prairie TX — 0217 Houston TX — 0491 Houston TX — 1106 Houston TX — 1955 Houston TX 1957 Houston TX 1958 Houston TX 2068 Houston TX — 2402 Houston TX — 0820 Irving TX — 2394 Kerrville TX — 1111 Kingswood TX — 2389 Lubbock TX — 0845 North Richland Hills TX — — 0846 North Richland Hills TX — — 2113 North Richland Hills TX — 2530 North Richland Hills TX — 1102 Plano TX — 2379 Plano TX — 2162 Portland TX — 0494 San Antonio TX — 2378 San Antonio TX — 2532 San Antonio TX — 2533 San Marcos TX — 2116 Sherman TX — 1954 Sugar Land TX 2510 Temple TX — 1103 The Woodlands TX — 2400 Victoria TX — 0195 Victoria TX 0847 Waxahachie TX — — 1953 Webster TX 2534 Wichita Falls TX — 2069 Cedar City UT — 2368 Salt Lake City UT — 2386 St. George UT — 1244 Arlington VA — 1245 Arlington VA — 2360 Arlington VA — 0881 Chesapeake VA — — 1247 Falls Church VA — 1164 Fort Belvoir VA — 1250 Leesburg VA — 2361 Richmond VA — 2514 Richmond VA — 1246 Sterling VA — 2077 Sterling VA — 0225 Woodbridge VA — 1173 Bellevue WA — 2095 College Place WA — 1240 Edmonds WA — 2160 Kenmore WA — 0797 Kirkland WA — — 1251 Mercer Island WA — 2141 Moses Lake WA — 2096 Poulsbo WA — 2102 Richland WA — 0794 Shoreline WA — 0795 Shoreline WA — — 2097 Spokane WA — 2061 Vancouver WA — 2062 Vancouver WA — 2052 Yakima WA — 2078 Yakima WA — 2114 Yakima WA — 2382 Appleton WI — 2170 Madison WI — 2398 Stevens Point WI — 2117 Bridgeport WV — 2142 Cody WY — 2148 Sheridan WY — United Kingdom 2210 Adlington UK — 2211 Adlington UK — — 2216 Alderley Edge UK — — 2217 Alderley Edge UK — — 2340 Altrincham UK — — 2312 Armley UK — — 2313 Armley UK — — 2309 Ashton under Lyne UK — — 2206 Bangor UK — — 2207 Batley UK — — 2223 Catterick Garrison UK — — 2226 Christleton UK — — 2221 Disley UK — — 2227 Disley UK — — 2306 Dukinfield UK — — 2316 Dukinfield UK — — 2317 Dukinfield UK — — 2303 Eckington UK — — 2208 Elstead UK — — 2214 Gilroyd UK — — 2213 Ilkley UK — — 2209 Kingswood UK — — 2212 Kirk Hammerton UK — — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2304 Knotty Ash UK — — 2310 Kirkby UK — — 2322 Laindon UK — — 2215 Leeds UK — — 2326 Limehouse UK — — 2321 Luton UK — — 2339 Manchester UK — — 2225 N Wadebridge UK — — 2305 Prescot UK — — 2219 Ripon UK — — 2314 Stalybridge UK — — 2218 Stapeley UK — — 2224 Stockton-on-Tees UK — — 2220 Thornton-Cleveleys UK — — 2228 Upper Wortley UK — — 2311 Wigan UK — — 2222 Woolmer Green UK — — $ $ $ $ $ $ $ $ Post-acute/skilled nursing 0002 Fort Collins CO — 0018 Morrison CO — 0280 Statesboro GA — — 0297 Rexburg ID — — 0378 Anderson IN — 0384 Angola IN — 0385 Fort Wayne IN — 0386 Fort Wayne IN — — 0387 Huntington IN — 0373 Kokomo IN — 0454 New Albany IN — — 0484 Tell City IN — 0688 Cynthiana KY — — 0298 Franklin LA — — 0299 Morgan City LA — — 0388 Las Vegas NV — 0389 Las Vegas NV — — 0390 Fairborn OH — — 0391 Georgetown OH — — 0392 Port Clinton OH — — 0393 Springfield OH — 0394 Toledo OH — — 0395 Versailles OH — — 0285 Fort Worth TX — 0296 Ogden UT — — 0681 Fishersville VA — — 0682 Floyd VA — — 0689 Independence VA — — 0683 Newport News VA — — 0684 Roanoke VA — — 0685 Staunton VA — — 0686 Williamsburg VA — — 0690 Windsor VA — — 0687 Woodstock VA — United Kingdom 2335 Cardiff UK — — 2327 Croydon UK — — 2336 Birmingham UK — — 2320 Bishopbriggs UK — — 2323 Bonnyrigg UK — — 2318 Dumbarton UK — — 2333 Edinburgh UK — — 2328 Forfar UK — — 2330 Glasgow UK — — 2307 Hyde UK — — 2324 Lewisham UK — — 2332 Linlithgow UK — — 2331 Paisley UK — — 2308 Prescot UK — — 2319 Sheffield UK — — 2315 Stalybridge UK — — 2325 Stirling UK — — 2329 Stirling UK — — 2337 Wigan UK — — 2338 Wigan UK — — 2334 Wotton under Edge UK — — $ — $ $ $ $ $ $ $ Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed Life science 1482 Brisbane 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 — 1949 La Jolla CA — 2229 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 — 0679 San Diego CA — 0837 San Diego CA — 0838 San Diego CA — 0839 San Diego CA — 0840 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 — 1947 San Diego CA 1948 San Diego CA 1950 San Diego CA — 2197 San Diego CA — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 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 — 1983 South San Francisco CA — — — * 1985 South San Francisco CA — — — ** 1987 South San Francisco CA — — — ** 2553 South San Francisco CA — — 2554 South San Francisco CA — — 2555 South San Francisco CA — — 2556 South San Francisco CA — — 2557 South San Francisco CA — — 2558 South San Francisco CA — — 1604 Cambridge MA — 2011 Durham NC 2030 Durham NC — 9999 Denton TX — — — — — ** 0461 Salt Lake City UT — — 0462 Salt Lake City UT — — 0463 Salt Lake City UT — — 0464 Salt Lake City UT — 0465 Salt Lake City UT — 0466 Salt Lake City UT — — — 0507 Salt Lake City UT — 0537 Salt Lake City UT — — — — 0799 Salt Lake City UT — — — 1593 Salt Lake City UT — — — — $ $ $ $ $ $ $ $ Medical office 0638 Anchorage AK — ** 0520 Chandler AZ — 2040 Mesa AZ — — — 0468 Oro Valley AZ — 0356 Phoenix AZ — 0470 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 — — — 0453 Tucson AZ — 0556 Tucson AZ — 1041 Brentwood CA — — 1200 Encino CA — 0436 Murietta CA — 0239 Poway CA — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 0318 Sacramento CA — * 2404 Sacramento CA — 0234 San Diego CA — 0235 San Diego CA — 0236 San Diego CA — 0421 San Diego CA — 0564 San Jose CA 0565 San Jose CA 0659 Los Gatos CA — 1209 Sherman Oaks CA — 0439 Valencia CA — 1211 Valencia CA — 0440 West Hills CA — 0728 Aurora CO — — — 1196 Aurora CO — 1197 Aurora CO — 0882 Colorado Springs CO — — — 0814 Conifer CO — — 1199 Denver CO — 0808 Englewood CO — — 0809 Englewood CO — — — 0810 Englewood CO — — — 0811 Englewood CO — — — 0812 Littleton CO — — 0813 Littleton CO — — 0570 Lone Tree CO — — — — 0666 Lone Tree CO — — — 2233 Lone Tree CO — — — — — * 1076 Parker CO — — 0510 Thornton CO — 0433 Atlantis FL — — 0434 Atlantis FL — — 0435 Atlantis FL — — — 0602 Atlantis FL — 0604 Englewood FL — 0609 Kissimmee FL — 0610 Kissimmee FL — 0671 Kissimmee FL — — — 0603 Lake Worth FL — 0612 Margate FL — 0613 Miami FL — 2202 Miami FL — — — 2203 Miami FL — — — 1067 Milton FL — — — 0563 Orlando FL — 0833 Pace FL — — 0834 Pensacola FL — — — 0614 Plantation FL — 0673 Plantation FL — 0701 St. Petersburg FL — — — ɫ 1210 Tampa FL — 1058 Mccaysville GA — — — 1065 Marion IL — 1057 Newburgh IN — — — 2039 Kansas City KS 2043 Overland Park KS — — — 0483 Wichita KS — 1064 Lexington KY — — — 0735 Louisville KY — 0737 Louisville KY — 0738 Louisville KY 0739 Louisville KY 0740 Louisville KY 1944 Louisville KY — — 1945 Louisville KY 1946 Louisville KY — 2237 Louisville KY 2238 Louisville KY 2239 Louisville KY 1324 Haverhill MA — 1213 Ellicott City MD — 0361 GlenBurnie MD — — 1052 Towson MD — — — 0240 Minneapolis MN — 0300 Minneapolis MN — 2032 Independence MO — — 1078 Flowood MS — — — 1059 Jackson MS — — — 1060 Jackson MS — — — 1068 Omaha NE — — 0729 Albuquerque NM — — — 0348 Elko NV — 0571 Las Vegas NV — — — — 0660 Las Vegas NV — 0661 Las Vegas NV — 0662 Las Vegas NV — 0663 Las Vegas NV — 0664 Las Vegas NV — — — * 0691 Las Vegas NV — 2037 Mesquite NV — — 1285 Cleveland OH — 0400 Harrison OH — — — 1054 Durant OK — 0817 Owasso OK — — — 0404 Roseburg OR — — — — 2234 Philadelphia PA — 2403 Philadelphia PA — 0252 Clarksville TN — 0624 Hendersonville TN — 0559 Hermitage TN — 0561 Hermitage TN — 0562 Hermitage TN — 0154 Knoxville TN — 0625 Nashville TN — 0626 Nashville TN — 0627 Nashville TN — 0628 Nashville TN — 0630 Nashville TN — 0631 Nashville TN — 0632 Nashville TN — 0633 Nashville TN — 0634 Nashville TN — 0636 Nashville TN — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2015 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2015 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 0573 Arlington TX — 0576 Conroe TX — 0577 Conroe TX — 0578 Conroe TX — 0579 Conroe TX — 0581 Corpus Christi TX — 0600 Corpus Christi TX — 0601 Corpus Christi TX — 2244 Cypress TX — — — — — * 0582 Dallas TX — 1314 Dallas TX — 2201 Dallas TX — 0583 Fort Worth TX — 0805 Fort Worth TX — — 0806 Fort Worth TX — — 2231 Fort Worth TX — — — ** 1061 Granbury TX — — — 0430 Houston TX — 0446 Houston TX — 0586 Houston TX — 0589 Houston TX — 0670 Houston TX — 0702 Houston TX — — 1044 Houston TX — — — 2542 Houston TX — — 2543 Houston TX — — 2544 Houston TX — — 2545 Houston TX — — 2546 Houton TX — — 2547 Houston TX — — 2548 Houston TX — — 2549 Houston TX — — 0590 Irving TX — 0700 Irving TX — — — 1202 Irving TX — 1207 Irving TX — 1062 Lancaster TX — 2195 Lancaster TX — — 0591 Lewisville TX — 0144 Longview TX — 0143 Lufkin TX — 0568 Mckinney TX — 0569 Mckinney TX — — — 1079 Nassau Bay TX — — — 0596 North Richland Hills TX — 2048 North Richland Hills TX — 1048 Pearland TX — — — 2232 Pearland TX — — — — * 0447 Plano TX — 0597 Plano TX — 0672 Plano TX — 1284 Plano TX — 1286 Plano TX — — — — — ** 0815 San Antonio TX — — 0816 San Antonio TX — 1591 San Antonio TX — — 1977 San Antonio TX — — — 0598 Sugarland TX — 0599 Texas City TX — — — 0152 Victoria TX — 2550 The Woodlands TX — — 2551 The Woodlands TX — — 2552 The Woodlands TX — — 1592 Bountiful UT 0169 Bountiful UT — 0346 Castle Dale UT — 0347 Centerville UT — 2035 Draper UT — — 0469 Kaysville UT — 0456 Layton UT — 2042 Layton UT — — — 0359 Ogden UT — 1283 Ogden UT — 0357 Orem UT — 0371 Providence UT — 0353 Salt Lake City UT — 0354 Salt Lake City UT — 0355 Salt Lake City UT — 0467 Salt Lake City UT — 0566 Salt Lake City UT — 2041 Salt Lake City UT — — — 2033 Sandy UT — 0358 Springville UT — 0482 Stansbury UT — 0351 Washington Terrace UT — — 0352 Washington Terrace UT — — 2034 West Jordan UT — — — 2036 West Jordan UT — — 0495 West Valley City UT — 0349 West Valley City UT — 1208 Fairfax VA — 2230 Fredericksburg VA — — 0572 Reston VA — — — 0448 Renton WA — — — 0781 Seattle WA — — — 0782 Seattle WA — — 0783 Seattle WA — — 0785 Seattle WA — — — 1385 Seattle WA — — — 2038 Evanston WY — — — 0884 Coyoacan MX — $ $ $ $ $ $ $ $ Hospital 0126 Sherwood AR — — 0113 Glendale AZ — — 1038 Fresno CA — 0423 Irvine CA — — 0127 Colorado Springs CO — — 0887 Atlanta GA — — 0112 Overland Park KS — — 1383 Baton Rouge LA — 0877 Slidell LA — — 2031 Slidell LA — — — ** 0886 Dallas TX — 1319 Dallas TX — 1384 Plano TX — 2198 Webster TX — — $ — $ $ $ $ $ $ $ Total operations properties $ $ $ $ $ $ $ $ Corporate and other assets — — — — Total $ $ $ $ $ $ $ $ * 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, 2015, the tax basis of the Company’s net real estate assets is less than the reported amounts by approximately $1.6 billion (unaudited) . (b) A summary of activity for real estate and accumulated depreciation follows (in thousands): Year ended December 31, 2015 2014 2013 Real estate: Balances at beginning of year $ $ $ Acquisition of real estate and development and improvements Disposition of real estate Impairments — — Balances associated with changes in reporting presentation (1) Balances at end of year $ $ $ Accumulated depreciation: Balances at beginning of year $ $ $ Depreciation expense Disposition of real estate Balances associated with changes in reporting presentation (1) Balances at end of year $ $ $ The balances associated with changes in reporting presentation represent real estate and accumulated depreciation related to fully depreciated assets written off, properties placed into discontinued operations or where the lease classification has changed to direct financing leases. |
Summary of Significant Accoun36
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
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 , Inc. , its wholly-owned subsidiaries , joint ventures and 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 investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support, (ii) substantially all of an entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights, or (iii) the equity investors as a group lack, if any: (a) the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of an entity, or (c) the right to receive the expected residual returns of an entity. 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, 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 VIE manager and/or liquidate the entity. For its investments in joint ventures that are not considered to be VIEs, 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 limited partner rights, (ii) the sole general partner increases or decreases its ownership interest in the limited partnership, 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 prior to or shortly after the end of the lease term, (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 present value of future minimum lease payments (excluding executory costs) is equal to 90% or more of the excess fair value (over retained tax credits) of the leased property. If one of the four criteria is met and the minimum lease payments are determined to be reasonably predictable and collectible, the lease arrangement is generally accounted for as a direct financing lease (“DFL”). The Company utilizes the direct finance method of accounting to record D FL income . For a lease accounted for as a DFL, the net investment in the DFL represents receivables for the sum of future minimum lease payments and the estimated residual value of the leased propert y , less the unamortized unearned income. Unearned income is deferred and amortized to income over the lease term to provide a constant yield when collectibility of the lease payments is reasonably assured. The Company recognizes rental revenue for operating lease arrangements when the tenant has taken possession or controls the physical use of a leased asset; the tenant is not considered to have taken physical possession or have control of the leased asset until the Company- owned tenant improvements are substantially completed. If a lease arrangement provides for tenant improvements, the Company determines whether the tenant improvements are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, any tenant improvements funded by the tenant are treated as lease payments which are deferred and amortized into income over the lease term. 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 generally rel ate to the reimbursement of real estate taxes, insurance and repairs and maintenance expense. These expenses are recognized as revenue in the period the y are incurred. The reimbursements of these expenses 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 results in a difference in the timing of revenue amounts from what is 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. 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 , loan fees paid and received , 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. The Company recognizes gain on sales of real estate upon the closing of a transaction with the purchaser. Gains on real estate sold are recognized using the full accrual method when 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 investment management fees from 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. |
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts The Company evaluates the liquidity and creditworthiness of its tenants, operators and borrowers on a monthly and quarterly basis. The Company’s evaluation considers industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity and other factors. The Company’s tenants, borrowers and operators furnish property, portfolio and guarantor/operator-level financial statements, among other information, on a monthly or quarterly basis; the Company utilizes this financial information to calculate the lease or debt service coverages that it uses as a primary credit quality indicator. Lease and debt service coverage information is evaluated together with other property, portfolio and operator performance information, including revenue, expense, net operating income, occupancy, rental rate, reimbursement trends, capital expenditures and EBITDA (defined as earnings before interest, tax, and depreciation and amortization), along with other liquidity measures. The Company evaluates, on a monthly basis or immediately upon a significant change in circumstance, its tenants’, operators’ and borrowers’ ability to service their obligations with the Company. The Company maintains an allowance for doubtful accounts for straight-line rent receivables resulting from tenants’ inability to make contractual rent and tenant recovery payments or lease defaults. For straight-line rent receivables, the Company’s assessment is based on amounts estimated to be recoverable over the lease term. In connection with the Company’s quarterly review process or upon the occurrence of a significant event, loans receivable and DFLs (collectively, “Finance Receivables”), are reviewed and assigned an internal rating of Performing, Watch List or Workout. Finance Receivables that are deemed Performing meet all present contractual obligations, and collection and timing, of all amounts owed is reasonably assured. Watch List Finance Receivables are defined as Finance Receivables that do not meet the definition of Performing or Workout. Workout Finance Receivables are defined as Finance Receivables in which the Company has determined, based on current information and events, that it is probable (i) it will be unable to collect all amounts due according to the contractual terms of the agreement, (ii) the tenant, operator, or borrower is delinquent on making payments under the contractual terms of the agreement and (iii) the Company has commenced action or anticipates pursuing action in the near term to seek recovery of its investment. Finance Receivables are placed on nonaccrual status when management determines that the collectibility of contractual amounts is not reasonably assured (the asset will have an internal rating of either Watch List or Workout). Further, the Company performs a credit analysis to support the tenant’s, operator’s, borrower’s and/or guarantor’s repayment capacity and the underlying collateral values. The Company uses the cash basis method of accounting for Finance Receivables placed on nonaccrual status unless one of the following conditions exist whereby it utilizes the cost recovery method of accounting: (i) if the Company determines that it is probable that it will only recover the recorded investment in the Finance Receivable, net of associated allowances or charge-offs (if any), or (ii) the Company cannot reasonably estimate the amount of an impaired Finance Receivable. For cash basis method of accounting the Company applies payments received, excluding principal paydowns, to interest income so long as that amount does not exceed the amount that would have been earned under the original contractual terms. For cost recovery method of accounting any payment received is applied to reduce the recorded investment. Generally, the Company returns a Finance Receivable to accrual status when all delinquent payments become current under the terms of the loan or lease agreements and collectibility of the remaining contractual loan or lease payments is reasonably assured . Allowances are established for Finance Receivables on an individual basis utilizing an estimate of probable losses, if they are determined to be impaired. Finance Receivables 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 lessee’s or borrower’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 Finance Receivable’s effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience, and other relevant factors, as appropriate. Should a Finance Receivable be deemed partially or wholly uncollectible, the uncollectible balance is charged off against the allowance in the period in which the uncollectible determination has been made . |
Real Estate | Real Estate The Company’s real estate assets, consisting of land, buildings and improvements are recorded at fair value upon acquisition and/or consolidation. Any assumed liabilities, other acquired tangible assets or identifiable intangibles are also recorded at fair value upon acquisition and/or consolidation. The Company assesses fair value based on available market information, such as capitalization and discount rates, comparable sale transaction s and relevant per square foot or unit cost information. A real estate asset’s fair value may be determined utilizing cash flow projections that incorporate appropriate discount and/or capitalization rates or 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 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 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 an evaluation of the specific characteristics of each property and the acquired tenant lease (s) . 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 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 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 certain costs based on the net carrying value of the property under redevelopment plus the cost for the construction and improvement incurred in con nection with the redevelopment. Costs previously capitalized related to abandoned developments/redevelopments 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 li ves . Depreciation is discontinued when a property is identified as held for sale. Buildings and improvements are depreciated over useful lives ranging up to 60 years. 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 expected 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 their 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 value . Potential impairment indicators include a significant decline in real estate values, restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in 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 value , the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compare the fair value of a reporting unit with its carrying value , including goodwill, and, if necessary, (ii) compare the implied fair value of reporting unit goodwill with the carrying value 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, excluding goodwill, is the implied value of goodwill and is used to determine the impairment amount , if any. The Company has 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 Prior to the Company’s adoption of Accounting Standards Update (“ASU”) No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), a discontinued operation was a component of an entity that had either been disposed of or was deemed to be held for sale and, (i) the operations and cash flows of the component had been or was to be eliminated from ongoing operations as a result of the disposal transaction, and (ii) the entity was not to have any significant continuing involvement in the operations of the component after the disposal transaction. Accordingly, certain long-lived assets were classified as held for sale and reported at the lower of their carrying value or fair value less costs to sell and were no longer depreciated. Subsequent to the Company’s adoption of ASU 2014-08 on April 1, 2014, a discontinued operation must further represent that a disposal is a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. |
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 the operating and financial policies of, 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 is 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 of 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 valuation 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 operations 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, (ii) security deposits , and (iii) net proceeds from property sales that were executed as tax-deferred dispositions. |
Derivatives and Hedging | Derivatives and Hedging During its normal course of business, the Company uses certain types of derivative instruments for the purpose of managing interest rate and foreign 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 that are required to be bifurcated, as assets or liabilities in the consolidated balance sheets at fair value. Changes in fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria of hedge accounting are recognized in earnings. For derivative instruments designated in qualifying cash flow hedging relationships, change s in fair value related to the effective portion of the derivative instruments are recognized in accumulated other comprehensive income (loss), whereas change s in fair value of the ineffective portion are 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 derivative instruments 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 derivative instruments are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative instrument 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 instrument . |
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 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 , local and foreign 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 have elected to be treated as taxable REIT subsidiaries (“ TRS ”) . 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 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. 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. When the Company determines declines in fair value of marketable securities are other ‑than ‑temporary, a loss is recognized in earnings. |
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. Debt issuance costs related to debt instruments excluding line of credit arrangements are deferred, recorded as a reduction of the related debt liability, and amortized to interest expense over the remaining term of the related debt liability utilizing the interest method. Debt issuance costs related to line of credit arrangements are deferred, included in other assets, and amortized to interest expense over the remaining term of the related line of credit arrangement utilizing the interest method. |
Segment Reporting | Segment Reporting The Company’s segments are based on its internal method of reporting which classifies business operations by healthcare sector as follows : (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. |
Noncontrolling Interests | Noncontrolling Interests A rrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s equity. N et income attributable to a noncontrolling interest is included in net income on the consolidated statements of operations and, upon a gain or loss of control, the interest purchased or sold, and any interest retained, is recorded at fair value with any gain or loss recognized in earnings. The Company accounts for purchases or sales of equity interests that do not result in a change in control as equity transactions. The Company consolidates non-managing member limited liability companies (“DownREITs”) because it exercises control, and the noncontrolling interests in these entities are carried at cost. The non-managing member limited liability compan y (“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 (loss), 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 operations . |
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 are unobservable . 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 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 for derivative instruments and other liabilities measured at 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 dividend rights 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 securities. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In January 201 6 , the Financial Accounting Standards Board (the “FASB”) issued ASU No. 201 6 -0 1 , Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 201 6 -0 1 ”). This update requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income . This update also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. ASU 201 6 - 0 1 is effective for fiscal years, and interim periods within, beginning after December 15, 201 7 . Early adoption is permitted only for certain disclosure requirements . The Company is evaluating the impact of the adoption of ASU 201 6 -0 1 on January 1, 2018 to its consolidated financial position or results of operations . In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 simplifies the accounting for adjustments made to provisional amounts recognized in a business combination by requiring the acquirer to (i) recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined, (ii) record, in the same period, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date, and (iii) present separately or disclose the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years, and interim periods within, beginning after December 15, 2015. Early adoption is permitted. The Company adopted ASU 2015- 1 6 on January 1, 2016; the adoption of which did not have a material impact on its consolidated financial position or results of operations. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 simplifies the presentation of debt issuance costs and requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability (consistent with debt discounts). In August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting) (“ASU 2015-15”). ASU 2015-15 allows debt issuance costs related to line-of-credit agreements to be presented in the balance sheet as an asset. ASU 2015-03 and ASU 2015-15 are effective for fiscal years, and interim periods within, beginning after December 15, 2015. Early adoption is permitted. The Company early adopted ASU 2015-03 and ASU 2015-15 as of December 31, 2015 using the full retrospective method as required by these ASUs. As a result, $39 million of total debt issuance costs previously reported within “other assets, net” were reclassified to their respective debt liability financial statement line items on the Company’s consolidated balance sheet as of December 31, 2014. In February 2015, the FASB issued ASU No. 2015-2, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 requires amendments to both the VIE and voting interest entity (“VOE”) consolidation accounting models. The amendments (i) rescind the indefinite deferral of certain aspects of accounting standards relating to consolidations and provide a permanent scope exception for registered money market funds and similar unregistered money market funds, (ii) modify (a) the identification of variable interests (fees paid to a decision maker or service provider), (b) the VIE characteristics for a limited partnership or similar entity and (c) the primary beneficiary determination under the VIE model, and (iii) eliminate the presumption within the current VOE model that a general partner controls a limited partnership or similar entity. ASU 2015-02 is effective for fiscal years, and interim periods within, beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the amendments in ASU 2015-02 using either a modified retrospective or retrospective method by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The Company adopted ASU 2015-02 on January 1, 2016; the adoption of which did not have a material impact to its consolidated financial position or results of operations. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). This update changes the requirements for recognizing revenue. ASU 2014-09 provides guidance for revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”). ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted for annual periods, and interim periods within, beginning after December 15, 2016. The Company is evaluating the impact of the adoption of ASU 2014-09 on January 1, 2018 to its consolidated financial position or results of operations. |
Brookdale Lease Amendments an37
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Lease Amendments And Terminations And Joint Venture Formations Abstract | |
Summary of quantitative information about fair value measurements for NNN Lease Restructuring and RIDEA Subsidiaries transactions (dollars in thousands) | A summary of the quantitative information about fair value measurements for the NNN Lease Restructuring and RIDEA II transactions follows (dollars in thousands): Fair Value Valuation Technique Valuation Inputs Input Average or Range NNN Lease Restructuring Rental payment concessions by HCP $ Discounted Cash Flow NNN Rent Coverage Ratio 1.20x (benefiting Brookdale) NNN Rent Growth Rate 3.0% Discount Rate 8.00% - 8.50 % Forfeited purchase options by $ Discounted Cash Flow Capitalization Rates 7.50% - 9.25% Brookdale (benefiting HCP) Discount Rate 10.50% - 11.00% Exercise Probability 100. 00% RIDEA II Forfeited rental payments by HCP $ Discounted Cash Flow NNN Rent Coverage Ratio 1.20x (benefiting Brookdale) NNN Rent Growth Rate 3.0% EBITDAR Growth Rate 5.5% Discount Rate 8.00% - 11.00% Forfeited purchase options by $ Discounted Cash Flow Capitalization Rates 7.50% - 9.25% Brookdale (benefiting HCP) Discount Rate 10.50% - 11.00% Exercise Probability 1 00.00% |
Other Real Estate Property In38
Other Real Estate Property Investments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Acquisition | |
Schedule of other real estate acquisitions (in thousands) | December 31, 2015 December 31, 2014 December 31, 2013 Revenues $ $ $ Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share $ $ $ Diluted earnings per common share 2015 Other Real Estate Acquisitions In addition to the RIDEA III acquisition discussed above, a summary of other real estate acquisitions for the year ended December 31, 2015 follows (in thousands): Consideration Assets Acquired (1) Cash Paid/ Liabilities Noncontrolling Net Segment Debt Settled Assumed Interest Real Estate Intangibles Senior housing (2) $ $ $ $ Post-acute/skilled nursing (2) — — Life science — Medical office (3) — $ $ $ $ $ (1) Amounts include preliminary purchase price allocations which may be subject to change. (2) Includes £174 million ( $254 million) of the Company’s HC-One Facility (see Note 7) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”) and includes £27 million ( $42 million) of a loan originated in May 2015 converted to fee ownership in two U.K. care homes. (3) Includes $225 million for a medical office building (“MOB”) portfolio acquisition completed in June 2015 and placed in HCP Ventures V, LLC (“HCP Ventures V”), of which in October 2015 the Company issued a 49% noncontrolling interest in HCP Ventures V for $110 million (see Note 13). 2014 Real Estate Acquisitions A summary of other real estate acquisitions for the year ended December 31, 2014 follows (in thousands): Consideration Assets Acquired Debt and Other Liabilities Noncontrolling Net Segment Cash Paid Assumed Interest Real Estate Intangibles Senior housing (1) $ $ $ (2) $ Life science — Medical office — $ $ $ $ $ (1) Includes the acquisition of a $147 million ( £88 million) portfolio of 23 care homes in the UK. (2) Includes $5 million of non-managing member limited liability company units |
Schedule of capital improvements (in thousands) | A summary of the Company’s funding for construction, tenant and other capital improvements follows (in thousands): Year Ended December 31, Segment 2015 2014 Senior housing $ $ Post-acute/skilled nursing Life science Medical office Hospital $ $ |
RIDEA III | |
Acquisition | |
Schedule of unaudited pro forma consolidated results of operations (in thousands, except per share amounts) | The following unaudited pro forma consolidated results of operations assume that the RIDEA III acquisition was completed as of January 1, 2013 (in thousands, except per share amounts): December 31, 2015 December 31, 2014 December 31, 2013 Revenues $ $ $ Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share $ $ $ Diluted earnings per common share |
Dispositions of Real Estate a39
Dispositions of Real Estate and Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 (dollars in thousands) | 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, 2014 2013 Rental and related revenues $ $ Depreciation and amortization expenses — Operating expenses Other expense, net Income before impairment losses and gain on sales of real estate, net of income taxes $ $ Impairment losses on real estate $ — $ Gain on sales of real estate, net of income taxes $ $ Number of properties included in discontinued operations |
Net Investment in Direct Fina40
Net Investment in Direct Financing Leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans Receivable: | |
Schedule of components of net investment in DFLs (dollars in thousands) | The components of net investment in DFLs consisted of the following (dollars in thousands): December 31, 2015 2014 Minimum lease payments receivable $ $ Estimated residual values Less unearned income Net investment in direct financing leases before allowance Allowance for DFL losses — Net investment in direct financing leases $ $ Properties subject to direct financing leases |
Schedule of Components of Direct Financing Leases Income and Equity Income | Year Ended December 31, 2015 2014 2013 Cash income $ $ $ DFL accretion, net Total DFL income from HCRMC $ $ $ DFL accretion income recharacterized to equity income $ $ $ Equity loss from HCRMC Total equity income from HCRMC $ $ $ |
DFL | |
Loans Receivable: | |
Summary of the Company's internal ratings for DFLs (dollars in thousands) | The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2015 (dollars in thousands): Carrying Percentage of Internal Ratings Investment Type Amount DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Senior housing $ $ $ $ — Post-acute/skilled nursing — — Hospital — — $ $ $ $ — |
Future minimum lease payments contractually due under DFLs | Future minimum lease payments contractually due under DFLs at December 31, 2015, were as follow (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Loans Receivable (Tables)
Loans Receivable (Tables) - Loans receivable | 12 Months Ended |
Dec. 31, 2015 | |
Loans Receivable: | |
Schedule of loans receivable (in thousands) | The following table summarizes the Company’s loans receivable (in thousands): December 31, 2015 2014 Real Estate Other Real Estate Other Secured Secured Total Secured Secured Total Mezzanine $ — $ $ 660,138 $ — $ $ Other — 114,322 — Unamortized premiums (discounts), fees and costs, net — Allowance for loan losses — — — — $ $ $ 768,743 $ $ $ |
Summary of the Company's internal ratings for loans receivable (dollars in thousands) | The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2015 (dollars in thousands): Percentage Internal Ratings Carrying of Loan Performing Watch List Workout Investment Type Amount Portfolio Loans Loans Loans Real estate secured $ $ $ — $ — Other secured — — $ $ $ — $ — |
Summary of loans receivable secured by real estate | Following is a summary of loans receivable secured by real estate at December 31, 2015 (dollars in thousands): Final Number Maturity of Principal Carrying Date Loans Payment Terms Amount Amount 2016 aggregate monthly interest-only payments, accrues interest at 8.5% , and secured by a senior housing facility in Pennsylvania (1) $ $ 2017 aggregate monthly interest-only payments, accrues interest at 8.5% , and secured by two senior housing facilities in New Jersey and Pennsylvania; (1) and aggregate monthly interest-only payments, accrues interest at LIBOR plus 6.0%, and secured by, among other things, the issuer's real estate assets 2018 monthly interest-only payments, accrues interest at 8.0% and secured by a senior housing facility in Pennsylvania (1) $ $ (1) Represents commitments to fund an aggregate of $2 million for four development projects that are at or near completion as of December 31, 2015. |
Investments in and Advances t42
Investments in and Advances to Unconsolidated Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments in and Advances to Unconsolidated Joint Ventures | |
Company owned interests in entities, accounted under equity method (dollars in thousands) | The Company owns interests in the following entities that are accounted for under the equity method at December 31, 2015 (dollars in thousands): Entity (1) Segment Carrying Amount Ownership % CCRC JV (2) senior housing $ HCRMC (3) senior housing and post-acute/skilled nursing — MBK JV (4) senior housing HCP Ventures III, LLC medical office HCP Ventures IV, LLC medical office and hospital HCP Life Science (5) life science 50 -63 Vintage Park senior housing MBK Development JV (4) senior housing Suburban Properties, LLC medical office Advances to unconsolidated joint ventures, net $ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Includes two unconsolidated joint ventures in a RIDEA structure (CCRC PropCo and CCRC OpCo). See additional information regarding the CCRC JV and the Brookdale Transaction in Note 3. (3) In December 2015, September 2015 and December 2014, the Company recognized impairment charges of $19 million, $27 million and $36 million, respectively. See Note 17 for additional information regarding th e impairment charge s ; also, see Note 6 regarding the Company’s related HCRMC DFL investment s . (4) Includes two unconsolidated joint ventures in a RIDEA structure (PropCo and OpCo). (5) 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 equity method investments (in thousands) | Summarized combined financial information for the Company’s unconsolidated joint ventures follows (in thousands): December 31, 2015 (1) 2014 Real estate, net $ $ Goodwill and other assets, net Assets held for sale Total assets $ $ Capital lease obligations and mortgage debt $ $ Accounts payable and other Liabilities and mortgage debt held for sale Other partners’ capital HCP’s capital (2) Total liabilities and partners’ capital $ $ (1) Includes the financial information of Vintage Park, MBK JV and MBK Development JV , which were formed i n January 2015 , March 2015 and September 2015, respectively . (2) The combined basis difference of the Company’s investments in these joint ventures of $39 million, as of December 31, 2015, is primarily attributable to goodwill, real estate, capital lease obligations, deferred tax assets and lease-related net intangibles. Year Ended December 31, 2015 (1) 2014 (2) 2013 Total revenues $ $ $ Income (loss) from discontinued operations Net loss (3) HCP’s share in earnings (3) Fees earned by HCP Distributions received by HCP (1) Includes the financial information of Vintage Park, MBK JV and MBK Development JV , which were formed in January 2015, March 2015 and September 2015, respectively . (2) Includes the financial information of the CCR C JV, which the Company formed i n August 2014. (3) The net loss in 201 5 includes $79 million related to HCRMC’s goodwill that was allocated to disposal groups that were sold. The net loss in 2014 includes impairments, net of the related tax benefit, of $396 million related to HCRMC’s deferred tax assets and trademark intangible assets. The impairments at HCRMC were the result of a continued shift in patient payor sources from Medicare to Medicare Advantage, which negatively impact reimbursement rates and length of stay for HCRMC’s skilled nursing segment and a shift in HCRMC’s marketing and branding strategy. The net loss in 2013 includes a charge of $400 million related to recording of a valuation allowance that reduced the carrying value of HCRMC’s deferred tax assets to an amount that is more likely than not to be realized as determined by HCRMC’s management. HCRMC’s goodwill, intangible assets and deferred tax assets were not previously considered in the Company’s initial investments in the operations of HCRMC . T herefore, the related impairments and valuation allowance against the carrying value of the deferred tax assets do not impact the Company’s recorded investment or impact on the Company’s share of earnings from or its equity investment in HCRMC . H owever, the circumstances that led to HCRMC’s management to reach the determination that it was necessary to reduce the carrying value of their deferred tax and trademark intangible assets in 2014 are consistent with the Company’s determination that its equity investment in HCRMC was impaired in December 2014 (see Note 17). The Company’s joint venture interest in HCRMC is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP’s ownership in HCRMC. The elimination of the respective proportional lease expense at the HCRMC level in substance results in $58 million, $62 million and $62 million of DFL income that is recharacterized to the Company’s share of earnings from HCRMC (equity income from unconsolidated joint ventures) for the years ended December 31, 2015, 2014 and 2013, respectively. See Note 6 for additional discussion. |
Intangibles (Tables)
Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Intangibles | |
Schedule of intangible lease assets | The Company’s intangible lease assets were (in thousands): December 31, Intangible lease assets 2015 2014 Lease-up intangibles $ $ Above market tenant lease intangibles Below market ground lease intangibles Gross intangible lease assets Accumulated depreciation and amortization Net intangible lease assets $ $ |
Schedule of intangible lease liabilities | The Company’s intangible lease liabilities were (in thousands): December 31, Intangible lease liabilities 2015 2014 Below market lease intangibles $ $ Above market ground lease intangibles Gross intangible lease liabilities Accumulated depreciation and amortization Net intangible lease liabilities $ $ |
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 2016 $ $ 2017 2018 2019 2020 Thereafter $ $ |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Assets.. | |
Schedule of other assets (in thousands) | The Company’s other assets consisted of the following (in thousands): December 31, 2015 2014 Straight-line rent receivables, net of allowance of $33,648 and $34,182 , respectively $ $ Marketable debt securities, net Leasing costs and inducements, net Goodwill Other Total other assets $ $ |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt | |
Summary of senior notes issuances (dollars in thousands) | The following table summarizes the Company’s senior unsecured note issuances for the periods presented (dollars in thousands): Issuance Period Amount Coupon Rate Maturity Date Net Proceeds Year ended December 31, 2015: January 21, 2015 $ % $ May 20, 2015 $ % $ December 1, 2015 $ % $ Year ended December 31, 2014: February 21, 2014 $ % $ August 14, 2014 $ % $ |
Summary of senior notes payoffs (dollars in thousands) | The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands): Period Amount Coupon Rate Year ended December 31, 2015: March 1, 2015 $ % June 8, 2015 $ % Year ended December 31, 2014: February 1, 2014 $ % June 14, 2014 $ % June 14, 2014 $ 3 Month LIBOR+0.9 % |
Summary of stated debt maturities and scheduled principal repayments (in thousands) | The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2015 (dollars in thousands): Senior Unsecured Notes (3) Mortgage Debt (4) Line of Interest Interest Year Credit (1) Term Loans (2) Amount Rate Amount Rate Total (5) 2016 $ — $ $ % $ % $ 2017 — — % % 2018 — % % 2019 — % N/A 2020 — — % % Thereafter — — % % % % Discounts and debt costs, net — $ $ $ $ $ (1) Represents £ 270 million translated into U.S. dollars (“USD”) . (2) Represents £357 million translated into USD . (3) Interest rates on the notes ranged from 2.79% to 6.88% with a weighted average effective rate of 4.68% and a weighted average maturity of six years. (4) Interest rates on the mortgage debt ranged from 3.14% to 8.35% with a weighted average effective interest rate of 6.21% and a weighted average maturity of two years. (5) Excludes $ 9 4 million of other debt that represents Life Care Bonds and Demand Notes that have no scheduled maturities. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies. | |
Summary of material commitments | The following table summarizes our material commitments , excluding debt servicing obligations (see Note 11), at December 31, 2015 (in thousands): More than Total 2016 2017-2018 2019-2020 Five Years U.K. loan commitments (1) $ $ $ $ — $ — Construction loan commitments (2) — — — Development commitments (3) — — — Ground and other operating leases Total $ $ $ $ $ (1) Represents £39 million translated into U SD as of December 31, 2015 for commitments to fund the Company’s U.K. loan facilities . (2) Represents commitments to finance development projects and related working capital financings. (3) Represents construction and other commitments for developments in progress. |
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): Annualized Number of Year Base Rent (1) Properties 2016 $ 2017 2018 2019 2020 Thereafter $ (1) Represents the most recent month’s base rent including additional rent floors and cash income from DFLs 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 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, 2015 were as follows (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity | |
Schedule of company's issuances of common stock (shares in thousands) | The following is a summary of the Company’s other common stock activities (shares in thousands): Year Ended December 31, 2015 2014 2013 Dividend Reinvestment and Stock Purchase Plan Conversion of DownREIT units Exercise of stock options Vesting of restricted stock units Repurchase of common stock |
Schedule of accumulated other comprehensive loss (in thousands) | The following is a summary of the Company’s accumulated other comprehensive loss (in thousands): December 31, 2015 2014 Cumulative foreign currency translation adjustment $ $ Unrealized losses on cash flow hedges, net Supplemental Executive Retirement Plan minimum liability Unrealized gains on available for sale securities Total accumulated other comprehensive loss $ $ |
Segment Disclosures (Tables)
Segment Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Disclosure | |
Summary financial information of reportable segment (in thousands) | Summary information for the reportable segments follows (in thousands): For the year ended December 31, 2015: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ (2) $ (2) $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) (2) (2) Adjusted (cash) NOI Interest income — — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Impairments Gain on sales of real estate Other income, net Income tax benefit Equity income in unconsolidated joint ventures Impairment of investments in unconsolidated joint ventures Net loss $ For the year ended December 31, 2014: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ $ $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) Adjusted (cash) NOI Interest income — — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Gain on sales of real estate Other income, net Income tax expense Equity income in unconsolidated joint ventures Impairment of investments in unconsolidated joint ventures Total discontinued operations Net income $ For the year ended December 31, 2013: Senior Post-acute/ Life Medical Segments Housing Skilled Nursing Science Office Hospital Total Rental revenues (1) $ $ $ $ $ $ Resident fees and services — — — — Operating expenses NOI Non-cash adjustments to NOI (3) Adjusted (cash) NOI Interest income — — Portfolio Income $ $ $ $ $ Addback non-cash adjustments Investment management fee income Interest expense Depreciation and amortization General and administrative expenses Acquisition and pursuit costs Other income, net Income tax expense Equity income in unconsolidated joint ventures Total discontinued operations Net income $ (1) Represents rental and related revenues, tenant recoveries, and income from DFLs. (2) See Note 6 for discussion of the Company’s HCRMC DFL investments (3) Represents straight-line rents, DFL accretion, amortization of market lease intangibles and lease termination fees . |
Reconciliation of company's assets to total assets (in thousands) | The Company’s total assets by segment were (in thousands): December 31, Segments 2015 2014 Senior housing $ $ Post-acute/skilled nursing Life science Medical office Hospital Gross segment assets Accumulated depreciation and amortization Net segment assets Other nonsegment assets Total assets $ $ |
Future Minimum Rents (Tables)
Future Minimum Rents (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 , are as follow (in thousands): Year Amount 2016 $ 2017 2018 2019 2020 Thereafter $ |
Compensation Plans (Tables)
Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of the option activity | A summary of the stock option activity during 2015 is presented in the following table (dollars and shares in thousands, except per share amounts): Weighted Weighted Average Average Remaining Aggregate Shares Exercise Contractual Intrinsic Under Options Price Term (Years) Value Outstanding as of January 1, 2015 $ $ Exercised Cancelled Forfeited Outstanding as of December 31, 2015 Exercisable as of December 31, 2015 |
Summary additional information concerning outstanding and exercisable stock options | The following table summarizes additional information concerning outstanding and exercisable stock options at December 31, 2015 (shares in thousands): Currently Exercisable Weighted Weighted Average Weighted Average Remaining Average Range of Shares Under Exercise Contractual Shares Under Exercise Exercise Price Options Price Term (Years) Options Price $23.34 - $25.52 $ $ 27.11 - 28.35 31.95 - 46.92 |
Summary of additional information concerning unvested stock options | The following table summarizes additional information concerning unvested stock options at December 31, 2015 (shares in thousands): Weighted Shares Average Under Grant Date Fair Options Value Unvested at January 1, 2015 $ Vested Forfeited Unvested at December 31, 2015 |
Summary of additional information concerning restricted stock and restricted stock units | The following table summarizes additional information concerning restricted stock and performance restricted stock units at December 31, 2015 (units and shares in thousands): Weighted Weighted Restricted Average Average Stock Grant Date Restricted Grant Date Units Fair Value Shares Fair Value Unvested at January 1, 2015 $ $ Granted — — Vested Forfeited — — Unvested at December 31, 2015 |
Common Stock Options | |
Assumptions used for estimating fair value of stock options using Black-Scholes option valuation model | 2014 2013 Risk-free rate % % Expected life (in years) Expected volatility % % Expected dividend yield % % |
Restricted Stock and Performance Restricted Stock Units | |
Assumptions used for estimating fair value of stock options using Black-Scholes option valuation model | 2015 2014 Expected volatility % % Risk-free rate % % Expected dividend yield % % |
Impairments (Tables)
Impairments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
DFL | |
Summary of quantitative information about fair value measurements | Post-acute/ Senior Housing Skilled nursing Description of Input(s) to the Valuation DFL Valuation Inputs DFL Valuation Inputs Range of EBITDAR $75,000 - $85,000 $385,000 - $435,000 Range of rent coverage ratio 1.05 x - 1.15 x 1.25 x - 1.35 x Range of real estate capitalization rate 6.25% - 7.2 5% 7.50% - 8.50% |
HCRMC | |
Summary of quantitative information about fair value measurements | The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model Description of Input(s) to the Valuation Valuation Inputs Range of revenue growth rates (1) (1.8%)-3.0% Range of occupancy growth rates (1) (0.8%)-0.2% Range of operating expense growth rates (1) (1.1%)-3.1% Discount rate 15.20% Range of earnings multiples 6.0x-7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. Description of Input(s) to the Valuation Valuation Inputs Range of revenue growth rates (1) (0.2%)-3.5% Range of occupancy growth rates (1) (0.3%)-0.2% Range of operating expense growth rates (1) 0.6%-2.8% Discount rate 13.7% Range of earnings multiples 6.0x-7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes | |
Schedule of Income Tax Expense (Benefit) from continuing operations | The total income tax (benefit) expense from continuing operations consists of the following components (in thousands): Year Ended December 31, 2015 2014 2013 Current Federal $ $ $ State Foreign — Total current $ $ $ Deferred Federal $ $ $ State Foreign — Total deferred $ $ $ Total income tax (benefit) expense $ $ $ |
Reconciliation of income tax expense at statutory rates to the actual income tax expense recorded | The following table reconciles the income tax expense at statutory rates to the actual income tax expense recorded (in thousands): Year Ended December 31, 2015 2014 2013 Tax (benefit) expense at U.S. federal statutory income tax rate on income or loss subject to tax $ $ $ State income tax expense, net of federal tax Gross receipts and margin taxes Foreign rate differential — Effect of permanent differences Return to provision adjustments Increase in valuation allowance — Total income tax (benefit) expense $ $ $ |
Schedule of significant components of the company's deferred tax asset and liabilities | The significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2015 2014 2013 Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets, and the treatment of interest and certain costs $ $ $ Net operating loss carryforward Expense accruals and other Valuation allowance — Net deferred tax assets $ $ $ |
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, 2013 $ Reductions based on prior years’ tax positions Additions based on 2013 tax positions — Balance at December 31, 2013 Reductions based on prior years’ tax positions Additions based on 2014 tax positions — Balance at December 31, 2014 $ — |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Common Share | |
Computation of basic and diluted earnings per share (in thousands, except per share amounts) | The following table illustrates the computation of basic and diluted earnings per share (dollars in thousands, except per share data): Year Ended December 31, 2015 2014 2013 Numerator (Loss) income from continuing operations $ $ $ Noncontrolling interests’ share in continuing operations (Loss) income from continuing operations applicable to HCP, Inc. Participating securities’ share in continuing operations (Loss) income from continuing operations applicable to common shares Discontinued operations — Noncontrolling interests’ share in discontinued operations — Net (loss) income applicable to common shares $ $ $ Denominator Basic weighted average common shares Dilutive potential common shares — Diluted weighted average common shares Basic earnings per common share (Loss) income from continuing operations $ $ $ Discontinued operations — Net (loss) income applicable to common stockholders $ $ $ Diluted earnings per common share (Loss) income from continuing operations $ $ $ Discontinued operations — Net (loss) income applicable to common shares $ $ $ |
Supplemental Cash Flow Inform54
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Information | |
Supplemental cash flow information (in thousands) | Supplemental cash flow information follows (in thousands): Year Ended December 31, 2015 2014 2013 Supplemental cash flow information: Interest paid, net of capitalized interest $ $ $ Income taxes paid Capitalized interest Supplemental disclosure of non-cash investing activities: Accrued construction costs Settlement of loans receivable as consideration for real estate acquisition — — Loan originated in connection with Brookdale Transaction — — Real estate contributed to CCRC JV — — Fair value of real estate acquired in exchange for sale of real estate — Tenant funded tenant improvements owned by HCP — Reclassification of the in-place leases from real estate to DFLs — — Supplemental disclosure of non-cash financing activities: Vesting of restricted stock units Cancellation of restricted stock — Conversion of non-managing member units into common stock Noncontrolling interest and other liabilities, net assumed in connection with the RIDEA III acquisition — — Noncontrolling interest issued in connection with Brookdale Transaction — — Noncontrolling interests issued in connection with real estate and other acquisitions — Noncontrolling interest assumed in connection with real estate disposition — — Mortgages and other liabilities assumed with real estate acquisitions Foreign currency translation adjustment Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Variable Interest Entities | |
Schedule of Variable Interest Entities (in thousands) | The classification of the related assets and liabilities and their maximum loss exposure as a result of the Company’s involvement with these VIEs at December 31, 2015 are presented below (in thousands): Maximum Loss Carrying VIE Type Exposure (1) Asset/Liability Type Amount HCRMC $ Net investment in DFLs and investments in unconsolidated joint ventures $ VIE tenants—DFLs Net investment in DFLs VIE tenants—operating leases Lease intangibles, net and straight-line rent receivables CCRC OpCo Investments in unconsolidated joint ventures Vintage Park Investments in unconsolidated joint ventures Four Seasons Loans and marketable debt securities CMBS Marketable debt securities (1) The Company’s maximum loss exposure related to VIE tenants, CCRC OpCo, Vintage Park, and loans and marketable debt securities to VIE borrowers represents the aggregate carrying amount of such investments (including accrued interest). The Company’s maximum loss exposure may be mitigated by re-leasing the underlying properties to new tenants upon an event of default. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements | |
Fair value measurements of financial assets and liabilities (in thousands) | The following table illustrates the Company’s financial assets and liabilities measured at fair value on a recurring basis at December 31, 2015 in the consolidated balance sheets (in thousands): Financial assets and liabilities Fair Value Level 1 Level 2 Level 3 Marketable equity securities $ $ $ — $ — Interest-rate swap asset (1) — — Interest-rate swap liabilities (1) — — Currency swap assets (1) — — Warrants (1) — — (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. |
Summary of the carrying values and fair values of financial instruments (in thousands) | The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2015 2014 Carrying Carrying Amount Fair Value Amount Fair Value Loans receivable, net (2) $ $ $ $ Marketable debt securities (2) Marketable equity securities (1) Warrants (3) Bank line of credit (2) Term loans (2) Senior unsecured notes (1) Mortgage debt (2) Other debt (2) Interest-rate swap asset (2) Interest-rate swap liabilit ies ( 2) Currency swap assets (2) (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 standardized pricing models 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. |
Concentration of Credit Risk (T
Concentration of Credit Risk (Tables) - Tenants and Operators | 12 Months Ended |
Dec. 31, 2015 | |
Schedule of concentration of credit risk | Percentage of Total Percentage of Company Gross Assets Total Company Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 HCRMC Brookdale (1) (1) On July 31, 2014, Brookdale completed its acquisition of Emeritus. These percentages of segment gross assets, total gross assets, segment revenues and total revenues, for all periods presented are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of the beginning of the periods presented. On August 29, 2014, the Company and Brookdale amended or terminated all former leases with Emeritus and entered into two RIDEA joint ventures (see Note 3). Percentages do not include senior housing facilities that Brookdale manages (is not a tenant) under a RIDEA structure. |
Senior housing | |
Schedule of concentration of credit risk | Percentage of Percentage of Senior Housing Gross Assets Senior Housing Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 Brookdale (1) HCRMC (1) On July 31, 2014, Brookdale completed its acquisition of Emeritus. These percentages of segment gross assets, total gross assets, segment revenues and total revenues, for all periods presented are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of the beginning of the periods presented. On August 29, 2014, the Company and Brookdale amended or terminated all former leases with Emeritus and entered into two RIDEA joint ventures (see Note 3). Percentages do not include senior housing facilities that Brookdale manages (is not a tenant) under a RIDEA structure. FN17 The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model Description of Input(s) to the Valuation Valuation Inputs Range of revenue growth rates (1) (1.8%)-3.0% Range of occupancy growth rates (1) (0.8%)-0.2% Range of operating expense growth rates (1) (1.1%)-3.1% Discount rate 15.20% Range of earnings multiples 6.0x-7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. Description of Input(s) to the Valuation Valuation Inputs Range of revenue growth rates (1) (0.2%)-3.5% Range of occupancy growth rates (1) (0.3%)-0.2% Range of operating expense growth rates (1) 0.6%-2.8% Discount rate 13.7% Range of earnings multiples 6.0x-7.0x (1) For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period. |
Post-acute/skilled | |
Schedule of concentration of credit risk | Percentage of Post-Acute/ Percentage of Post-Acute/ Skilled Nursing Gross Assets Skilled Nursing Revenues December 31, Year Ended December 31, Operators 2015 2014 2015 2014 2013 HCRMC |
Derivative Financial Instrume58
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Financial Instruments | |
Schedule of derivative instruments (dollars and GBP in thousands) | The following table summarizes the Company’s outstanding interest-rate and foreign currency swap contracts as of December 31, 2015 (dollars and GBP in thousands): Fixed Hedge Rate/Buy Notional/Sell Date Entered Maturity Date Designation Amount Floating/Exchange Rate Index Amount Fair Value (1) Interest rate: July 2005 (2) July 2020 Cash Flow % BMA Swap Index $ $ November 2008 (3) October 2016 Cash Flow % 1 Month LIBOR+ 1.50% $ July 2012 (4) June 2016 Cash Flow % 1 Month GBP LIBOR+ 1.20% £ January 2015 (4) October 2017 Cash Flow % 1 Month GBP LIBOR+ 0.975% £ Foreign currency: July 2012 (5) June 2016 N/A $ Buy USD/Sell GBP £ January 2015 (6) October 2017 Cash Flow $ Buy USD/Sell GBP £ (1) Derivative assets are recorded in other assets, net and derivative liabilities are recorded in accounts payable and accrued liabilities on the consolidated balance sheets . (2) Represents three interest-rate swap contracts, which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows . (3) Represents an interest-rate swap contract, that hedges the fluctuation in interest payments on variable-rate secured debt due to overall changes in hedged cash flows (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 a currency swap to sell £7.2 million at a rate of 1.5695 in June 2016. (6) Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to the Company’s forecasted GBP denominated interest receipts on its HC-One Facility. Represents a currency swap to sell approximately £1.0 million monthly at a rate of 1.5149 through October 2017. |
Schedule of effect of change in interest and foreign currency rate (dollars in thousands) | The following table summarizes the results of the analysis performed (dollars in thousands): Effects of Change in Interest and Foreign Currency Rates +50 Basis −50 Basis +100 Basis −100 Basis Date Entered Maturity Date Points Points Points Points Interest rates: July 2005 July 2020 $ $ $ $ November 2008 October 2016 July 2012 June 2016 January 2015 October 2017 Foreign currency: July 2012 June 2016 January 2015 October 2017 |
Selected Quarterly Financial 59
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Selected Quarterly Financial Data (Unaudited) | |
Selected quarterly information | Selected quarterly information for the years ended December 31, 2015 and 201 4 is as follows (in thous ands, except per share amounts) : Three Months Ended During 2015 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ (Loss) income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures Net (loss) income Net (loss) income applicable to HCP, Inc. Dividends paid per common share Basic earnings per common share Diluted earnings per common share Three Months Ended During 2014 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures Total discontinued operations — — — Net income Net income applicable to HCP, Inc. Dividends paid per common share Basic earnings per common share Diluted earnings per common share |
Summary of Significant Accoun60
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2015 | |
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 | 60 years |
Failure to qualify as REIT, ineligibility period | 4 years |
Brookdale Lease Amendments an61
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) - Compents of Brookdale Transaction and NNN Lease Restructing (Details) $ in Millions | Aug. 29, 2014USD ($)itemproperty |
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | |
Number Of Properties Contributed To Joint Venture | item | 48 |
Brookdale Senior Living | |
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | |
Annualized base rent reductions, first year | $ 6.5 |
Annualized base rent reductions, subsequent years | $ 7.5 |
Number of communities sold in purchase option | item | 9 |
Proceeds from communities sold in purchase option | $ 60 |
Brookdale Senior Living | NNN-leased Portfolio | |
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | |
Number of facilities for which existing lease agreement is amended | property | 153 |
Number of properties with purchase options cancelled on amendment | property | 30 |
Average initial lease term | 15 years |
Number of extension options | item | 2 |
Term of lease extension options | 10 years |
Business Combination, Consideration Transferred [Abstract] | |
Consideration paid to terminate purchase options | $ 129 |
Rent concessions | 76 |
Net consideration paid | $ 53 |
Brookdale Lease Amendments an62
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) - RIDEA Subsidiaries (Details) $ in Thousands | Aug. 29, 2014USD ($)property | Aug. 29, 2014USD ($)property | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||||
Ownership percentage (as a percent) | 49.00% | 49.00% | ||
Net Gain Recognized on Lease Terminations | ||||
Net gain on contract termination | $ 1,103 | $ 38,001 | ||
RIDEA JV | ||||
Net Gain Recognized on Lease Terminations | ||||
Net gain on contract termination | $ 38,000 | |||
Gain based on fair value of net consideration received for lease terminations | 108,000 | |||
Charges related to lease termination write-offs | $ 70,000 | |||
Brookdale Senior Living | ||||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||||
Ownership percentage (as a percent) | 20.00% | 20.00% | ||
Brookdale Senior Living | RIDEA JV | ||||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||||
Number of facilities for which existing lease agreement is terminated | property | 49 | |||
Number of properties with purchase options cancelled on termination | property | 19 | 19 | ||
Lease Terminations Considerations Received Abstract | ||||
Investment in strategic joint venture | $ 47,000 | $ 47,000 | ||
Consideration received - Short-term receivable | 34,000 | 34,000 | ||
Consideration received - Note receivable | 68,000 | 68,000 | ||
Effective offset for net consideration paid | $ 53,000 | $ 53,000 |
Brookdale Lease Amendments an63
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) - Continuing Care Retirement Communities Joint Venture (Details) $ in Thousands | Aug. 29, 2014USD ($)item | Dec. 31, 2015USD ($) |
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Joint Venture Ownership Percentage | 49.00% | |
Joint Venture Disclosures [Abstract] | ||
Cash contributed | $ | $ 770,325 | |
Brookdale Senior Living | ||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Joint Venture Ownership Percentage | 20.00% | |
CCRC JV | ||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Number of retirement communities | 14 | |
Joint Venture Disclosures [Abstract] | ||
Number of retirement communities contributed to joint venture | 2 | |
Fair value of retirement communities or properties contributed | $ | $ 162,000 | |
Carrying value of properties contributed | $ | 92,000 | |
Cash contributed | $ | 370,000 | |
Debt related to retirement communities or properties contributed | $ | $ 569,000 | |
CCRC JV | Brookdale Senior Living | ||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Joint Venture Ownership Percentage | 51.00% | |
Joint Venture Disclosures [Abstract] | ||
Number of retirement communities contributed to joint venture | 8 | |
Number of properties intended to be acquired in future | 4 | |
CCRC JV | CCRCJV Prop Co | Brookdale Senior Living | ||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Number of properties to be leased | 8 | |
CCRC JV | CCRCJV Op Co | Brookdale Senior Living | ||
Lease Amendments And Terminations And Joint Venture Formations [Line Items] | ||
Number of properties to be owned directly | 6 |
Brookdale Lease Amendments an64
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) - Fair Value Measurement Techniques and Quantitative Information (Details) $ in Thousands | Aug. 29, 2014USD ($) |
NNN-leased Portfolio | |
Fair Value Inputs [Abstract] | |
Exercise probability (as a percent) | 100.00% |
NNN-leased Portfolio | Minimum | |
Fair Value Inputs [Abstract] | |
Capitalization Rates | 7.50% |
Discount Rate | 10.50% |
NNN-leased Portfolio | Maximum | |
Fair Value Inputs [Abstract] | |
Capitalization Rates | 9.25% |
Discount Rate | 11.00% |
NNN-leased Portfolio | Income approach | |
Fair Value Inputs Quantitative Information | |
Fair value of forfeited purchase options | $ (129,000) |
RIDEA JV | |
Fair Value Inputs [Abstract] | |
Exercise probability (as a percent) | 100.00% |
RIDEA JV | Income approach | |
Fair Value Inputs Quantitative Information | |
Fair value of forfeited purchase options | $ (23,000) |
Brookdale Senior Living | NNN-leased Portfolio | |
Fair Value Inputs [Abstract] | |
Rent Coverage Ratio | 1.20 |
Rent Growth Rate | 3.00% |
Brookdale Senior Living | NNN-leased Portfolio | Minimum | |
Fair Value Inputs [Abstract] | |
Discount Rate | 8.00% |
Brookdale Senior Living | NNN-leased Portfolio | Maximum | |
Fair Value Inputs [Abstract] | |
Discount Rate | 8.50% |
Brookdale Senior Living | NNN-leased Portfolio | Income approach | |
Fair Value Inputs Quantitative Information | |
Fair value of rental payment concessions | $ 76,000 |
Brookdale Senior Living | RIDEA JV | |
Fair Value Inputs [Abstract] | |
Rent Coverage Ratio | 1.20 |
Rent Growth Rate | 3.00% |
EBITDAR Growth Rate (as a percent) | 5.50% |
Brookdale Senior Living | RIDEA JV | Minimum | |
Fair Value Inputs [Abstract] | |
Discount Rate | 8.00% |
Brookdale Senior Living | RIDEA JV | Maximum | |
Fair Value Inputs [Abstract] | |
Discount Rate | 11.00% |
Brookdale Senior Living | RIDEA JV | Income approach | |
Fair Value Inputs Quantitative Information | |
Fair value of forfeited rental payments revenue | $ 131,000 |
Other Real Estate Property In65
Other Real Estate Property Investments (Details) $ / shares in Units, £ in Thousands, $ in Thousands | Oct. 07, 2015USD ($) | Jun. 30, 2015USD ($)propertyitem | Oct. 31, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015GBP (£)item | Dec. 31, 2015USD ($)propertyitem$ / shares | Dec. 31, 2014GBP (£)property | Dec. 31, 2014USD ($)property$ / shares | Dec. 31, 2013USD ($)$ / shares | May. 31, 2015GBP (£) | May. 31, 2015USD ($) | Dec. 31, 2012USD ($) |
Acquisition | ||||||||||||
Net termination fee revenue | $ 1,103 | $ 38,001 | ||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid | 503,470 | |||||||||||
Consideration, Cash Paid/Debt Settled | 912,549 | |||||||||||
Consideration, Liabilities assumed | 23,218 | 37,278 | ||||||||||
Consideration, Noncontrolling Interest | 4,255 | 6,321 | ||||||||||
Assets Acquired, Real Estate | 770,409 | 483,046 | ||||||||||
Assets Acquired, Net Intangibles | 169,613 | 64,023 | ||||||||||
Loans and Leases Receivable, Gross | £ 27,000 | $ 42,000 | ||||||||||
Consideration to non-managing member limited liability company units | 5,000 | |||||||||||
Investment Building and Building Improvements | 12,501,511 | 10,972,973 | ||||||||||
Funding for construction, tenant and other capital improvements | 388,151 | $ 272,998 | ||||||||||
HC-One Facility | ||||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Fair Value of Real Estate Exchanged | £ 174 | $ 254,000 | ||||||||||
Number of properties | property | 36 | |||||||||||
Senior housing | ||||||||||||
Acquisition | ||||||||||||
Number of facilities acquired | property | 23 | 23 | ||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid | $ 233,797 | |||||||||||
Consideration, Cash Paid/Debt Settled | $ 268,782 | |||||||||||
Consideration, Liabilities assumed | 8,298 | 3,351 | ||||||||||
Consideration, Noncontrolling Interest | 4,255 | 6,321 | ||||||||||
Assets Acquired, Real Estate | 253,802 | 215,255 | ||||||||||
Assets Acquired, Net Intangibles | 27,533 | 28,214 | ||||||||||
Consideration, Amount translated | £ 88,000 | 147,000 | ||||||||||
Funding for construction, tenant and other capital improvements | 131,405 | 45,586 | ||||||||||
Life science | ||||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid | 43,500 | |||||||||||
Consideration, Cash Paid/Debt Settled | 80,946 | |||||||||||
Consideration, Liabilities assumed | 2,054 | 250 | ||||||||||
Assets Acquired, Real Estate | 68,988 | 41,281 | ||||||||||
Assets Acquired, Net Intangibles | 14,012 | $ 2,469 | ||||||||||
Number of Facilities Placed into Service | property | 2 | 2 | ||||||||||
Funding for construction, tenant and other capital improvements | 122,319 | $ 133,164 | ||||||||||
Medical office | ||||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid | 226,173 | |||||||||||
Consideration, Cash Paid/Debt Settled | 384,114 | |||||||||||
Consideration, Liabilities assumed | 12,866 | 33,677 | ||||||||||
Assets Acquired, Real Estate | 305,091 | 226,510 | ||||||||||
Assets Acquired, Net Intangibles | 91,889 | 33,340 | ||||||||||
Investment Building and Building Improvements | $ 7,000 | |||||||||||
Funding for construction, tenant and other capital improvements | 131,021 | 90,027 | ||||||||||
Hospital | ||||||||||||
Other real estate acquisitions | ||||||||||||
Funding for construction, tenant and other capital improvements | 37 | 1,688 | ||||||||||
Post-acute/skilled | ||||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid/Debt Settled | 178,707 | |||||||||||
Assets Acquired, Real Estate | 142,528 | |||||||||||
Assets Acquired, Net Intangibles | 36,179 | |||||||||||
Funding for construction, tenant and other capital improvements | 3,369 | 2,533 | ||||||||||
Life Science, Medical Office and Post-acute/skilled [Member] | ||||||||||||
Other real estate acquisitions | ||||||||||||
Investment Building and Building Improvements | 41,000 | |||||||||||
RIDEA III | ||||||||||||
Acquisition | ||||||||||||
Assets Acquired, Working Capital | $ 7,000 | $ 7,000 | ||||||||||
Net termination fee revenue | 8,000 | |||||||||||
Stabilized occupancy rate (as a percent) | 80.00% | 80.00% | ||||||||||
Revenue from acquiree since the acquisition date | 94,000 | |||||||||||
Income from acquiree since the acquisition date | 1,000 | |||||||||||
Business Acquisition, Pro Forma Information [Abstract] | ||||||||||||
Revenues | 2,638,192 | 2,454,039 | $ 2,287,638 | |||||||||
Net (loss) income | (531,464) | 954,540 | 996,976 | |||||||||
Net (loss) income applicable to HCP, Inc. | $ (545,776) | $ 938,387 | $ 981,610 | |||||||||
Basic earnings per common share (in dollars per share) | $ / shares | $ (1.18) | $ 2.04 | $ 2.15 | |||||||||
Diluted earnings per common share (in dollars per share) | $ / shares | $ (1.18) | $ 2.04 | $ 2.15 | |||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid | $ 770,000 | |||||||||||
Consideration, Liabilities assumed | 32,000 | $ 32,000 | ||||||||||
Consideration, Noncontrolling Interest | 29,000 | 29,000 | ||||||||||
Assets Acquired, Real Estate | 771,000 | 771,000 | ||||||||||
Assets Acquired, Net Intangibles | $ 53,000 | 53,000 | ||||||||||
RIDEA III | Brookdale Senior Living | ||||||||||||
Acquisition | ||||||||||||
Number of individual leases | item | 2 | 2 | ||||||||||
Number of Units Acquired | item | 5,025 | |||||||||||
Noncontrolling interest (as a percent) | 10.00% | |||||||||||
Management Agreement Term | 7 years | 7 years | ||||||||||
Other real estate acquisitions | ||||||||||||
Noncontrolling interest (as a percent) | 10.00% | |||||||||||
RIDEA III | Senior housing | Brookdale Senior Living | ||||||||||||
Acquisition | ||||||||||||
Number of facilities acquired | property | 35 | |||||||||||
HCP Ventures V | ||||||||||||
Acquisition | ||||||||||||
Noncontrolling interest (as a percent) | 49.00% | 49.00% | ||||||||||
Other real estate acquisitions | ||||||||||||
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | $ 110,000 | $ 110,000 | ||||||||||
Noncontrolling interest (as a percent) | 49.00% | 49.00% | ||||||||||
HCP Ventures V | Medical office | ||||||||||||
Other real estate acquisitions | ||||||||||||
Consideration, Cash Paid/Debt Settled | $ 225,000 |
Dispositions of Real Estate a66
Dispositions of Real Estate and Discontinued Operations (Details) | 12 Months Ended | |||
Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($)propertyitem | Dec. 31, 2013USD ($)item | Aug. 29, 2014USD ($) | |
Operating income from discontinued operations | ||||
Income before impairment losses and gain on sales of real estate, net of income taxes | $ 1,736,000 | $ 5,879,000 | ||
Impairment losses on real estate | (1,372,000) | |||
Gain on sales of real estate, net of income taxes | 28,010,000 | 69,866,000 | ||
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | ||||
Operating income from discontinued operations | ||||
Rental and related revenues | 1,810,000 | 16,649,000 | ||
Depreciation and amortization expenses | 5,862,000 | |||
Operating expenses | 54,000 | 3,929,000 | ||
Other expenses, net | 20,000 | 979,000 | ||
Income before impairment losses and gain on sales of real estate, net of income taxes | 1,736,000 | 5,879,000 | ||
Discontinued Operations, Disposed of by Sale [Member] | ||||
Operating income from discontinued operations | ||||
Gain on sales of real estate, net of income taxes | $ 28,010,000 | $ 69,866,000 | ||
Discontinued Operations, Held-for-sale [Member] | ||||
Operating income from discontinued operations | ||||
Number of properties included in discontinued operations | item | 3 | 16 | ||
Senior housing | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Dispositions of Real Estate and Land | ||||
Number of properties disposed | item | 9 | 1 | ||
Total consideration for disposition of real estate | $ 60,000,000 | $ 16,000,000 | ||
Post-acute/skilled | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Dispositions of Real Estate and Land | ||||
Number of properties disposed | item | 2 | |||
Total consideration for disposition of real estate | $ 22,000,000 | |||
Life science | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Dispositions of Real Estate and Land | ||||
Number of Parcels of land | item | 2 | |||
Total consideration for disposition of real estate | $ 51,000,000 | |||
Hospital | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Dispositions of Real Estate and Land | ||||
Number of properties disposed | property | 1 | |||
Total consideration for disposition of real estate | $ 17,000,000 | |||
Medical office | ||||
Dispositions of Real Estate and Land | ||||
Number of properties disposed | item | 2 | |||
Total consideration for disposition of real estate | $ 6,000,000 | |||
Medical office | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Dispositions of Real Estate and Land | ||||
Number of properties disposed | item | 1 | |||
Total consideration for disposition of real estate | $ 400,000 | $ 145,000,000 | ||
CCRC JV | ||||
Dispositions of Real Estate and Land | ||||
Carrying value of properties contributed | $ 92,000,000 |
Net Investment in Direct Fina67
Net Investment in Direct Financing Leases (Details) | Jun. 30, 2015property | Apr. 01, 2015 | Mar. 29, 2015USD ($)property | Feb. 08, 2016property | Dec. 31, 2015USD ($)item | Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($)item | Dec. 31, 2015USD ($)item | Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($)property | Jun. 30, 2016property | Dec. 31, 2015USD ($)item | Dec. 31, 2015USD ($)propertyitem | Dec. 31, 2014USD ($)propertyitem | Dec. 31, 2013USD ($) | Dec. 31, 2011property | Feb. 08, 2016property | Feb. 28, 2015USD ($) | Sep. 30, 2013item |
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Minimum lease payments receivable | $ 26,283,392,000 | $ 24,182,525,000 | $ 26,283,392,000 | $ 26,283,392,000 | $ 26,283,392,000 | $ 24,182,525,000 | ||||||||||||||
Allowance for DFL losses | (817,040,000) | (817,040,000) | (817,040,000) | (817,040,000) | ||||||||||||||||
Estimated residual values | 3,900,679,000 | 4,126,426,000 | 3,900,679,000 | 3,900,679,000 | 3,900,679,000 | 4,126,426,000 | ||||||||||||||
Less unearned income | (23,462,022,000) | (21,028,617,000) | (23,462,022,000) | (23,462,022,000) | (23,462,022,000) | (21,028,617,000) | ||||||||||||||
Net investment in direct financing leases | $ 5,905,009,000 | $ 7,280,334,000 | $ 5,905,009,000 | $ 5,905,009,000 | $ 5,905,009,000 | $ 7,280,334,000 | ||||||||||||||
Properties subject to direct financing leases | item | 348 | 363 | 348 | 348 | 348 | 363 | ||||||||||||||
Total DFL income | $ 633,835,000 | $ 663,070,000 | $ 636,881,000 | |||||||||||||||||
Total equity income | $ 57,313,000 | 49,570,000 | 64,433,000 | |||||||||||||||||
Number of facility sales closed | property | 11 | 22 | 33 | |||||||||||||||||
Sales price | $ 219,000,000 | |||||||||||||||||||
Impairment charges reducing equity investment | $ 45,895,000 | 35,913,000 | ||||||||||||||||||
Percentage of DFL Portfolio | 100.00% | 100.00% | 100.00% | 100.00% | ||||||||||||||||
Capital leases future minimum payments receivable | ||||||||||||||||||||
2,016 | $ 552,985,000 | $ 552,985,000 | $ 552,985,000 | $ 552,985,000 | ||||||||||||||||
2,017 | 545,307,000 | 545,307,000 | 545,307,000 | 545,307,000 | ||||||||||||||||
2,018 | 559,979,000 | 559,979,000 | 559,979,000 | 559,979,000 | ||||||||||||||||
2,019 | 576,206,000 | 576,206,000 | 576,206,000 | 576,206,000 | ||||||||||||||||
2,020 | 586,229,000 | 586,229,000 | 586,229,000 | 586,229,000 | ||||||||||||||||
Thereafter | 23,462,686,000 | 23,462,686,000 | 23,462,686,000 | 23,462,686,000 | ||||||||||||||||
Total | 26,283,392,000 | 26,283,392,000 | 26,283,392,000 | 26,283,392,000 | ||||||||||||||||
HCRMC in Master Lease | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 6,100,000,000 | $ 6,100,000,000 | $ 6,600,000,000 | |||||||||||||||||
Number of non-strategic assets involved in sales transaction | property | 50 | |||||||||||||||||||
Annual rent reduction on sold properties, as a percent of the sales proceeds | 7.75% | |||||||||||||||||||
Reduction in initial net annual rent due to lease amendment | $ 68,000,000 | |||||||||||||||||||
Annual rent under Master Agreement | $ 541,000,000 | 473,000,000 | ||||||||||||||||||
Minimum rent escalation during the initial term (as a percent) | 3.00% | |||||||||||||||||||
Increase in Rent, first two years (as a percent) | 3.50% | |||||||||||||||||||
Increase in Rent, afterwards (as a percent) | 3.00% | |||||||||||||||||||
Period of extension of initial term of lease | 5 years | |||||||||||||||||||
Average lease term | 16 years | |||||||||||||||||||
Deferred lease obligation | 525,000,000 | 525,000,000 | 525,000,000 | 525,000,000 | ||||||||||||||||
Expected Annual Rent | 19,000,000 | |||||||||||||||||||
Direct Financing Lease Tranche A [Member] | HCRMC in Master Lease | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Deferred lease obligation | 275,000,000 | 275,000,000 | 275,000,000 | $ 275,000,000 | ||||||||||||||||
Direct Financing Lease Rental Factor, first period (as a percent) | 6.90% | |||||||||||||||||||
Expected Annual Rent | $ 19,000,000 | |||||||||||||||||||
Direct Financing Lease Tranche B [Member] | HCRMC in Master Lease | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Deferred lease obligation | 250,000,000 | 250,000,000 | 250,000,000 | $ 250,000,000 | ||||||||||||||||
Direct Financing Lease Rental Factor, first period (as a percent) | 3.00% | |||||||||||||||||||
Direct Financing Lease Rental Factor, annual increase (as a percent) | 3.00% | |||||||||||||||||||
Direct Financing Lease Rental Factor, second period (as a percent) | 4.00% | |||||||||||||||||||
Direct Financing Lease Rental Factor, third period (as a percent) | 5.00% | |||||||||||||||||||
Direct Financing Lease Rental Factor, fourth period (as a percent) | 6.00% | |||||||||||||||||||
DFL | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Cash income | $ 20,000,000 | 24,000,000 | 24,000,000 | |||||||||||||||||
Total DFL income | 15,000,000 | $ 19,000,000 | 24,000,000 | |||||||||||||||||
DFL | HCRMC in Master Lease | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 5,200,000,000 | $ 6,000,000,000 | 5,200,000,000 | $ 6,000,000,000 | 5,200,000,000 | 5,200,000,000 | ||||||||||||||
Impairment charges related to investments in DFLs | $ 478,000,000 | 817,000,000 | ||||||||||||||||||
Performing Loans | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 385,152,000 | 385,152,000 | 385,152,000 | 385,152,000 | ||||||||||||||||
Watch List DFLs | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 5,519,857,000 | 5,519,857,000 | 5,519,857,000 | 5,519,857,000 | ||||||||||||||||
Senior housing | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 1,788,764,000 | $ 1,788,764,000 | $ 1,788,764,000 | $ 1,788,764,000 | ||||||||||||||||
Number of Facilities Acquired | property | 23 | |||||||||||||||||||
Impairment charges reducing equity investment | $ 19,000,000 | $ 27,000,000 | $ 36,000,000 | |||||||||||||||||
Percentage of DFL Portfolio | 30.00% | 30.00% | 30.00% | 30.00% | ||||||||||||||||
Senior housing | DFL | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 366,000,000 | $ 370,000,000 | $ 366,000,000 | $ 366,000,000 | $ 366,000,000 | $ 370,000,000 | ||||||||||||||
Properties subject to direct financing leases | item | 14 | |||||||||||||||||||
Senior housing | Performing Loans | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 261,261,000 | 261,261,000 | 261,261,000 | 261,261,000 | ||||||||||||||||
Senior housing | Watch List DFLs | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | 1,527,503,000 | 1,527,503,000 | 1,527,503,000 | 1,527,503,000 | ||||||||||||||||
Post-acute/skilled | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 3,992,354,000 | $ 3,992,354,000 | $ 3,992,354,000 | 3,992,354,000 | ||||||||||||||||
Proceeds from Collection of Lease Receivables | $ 13,000,000 | |||||||||||||||||||
Percentage of DFL Portfolio | 68.00% | 68.00% | 68.00% | 68.00% | ||||||||||||||||
Post-acute/skilled | Watch List DFLs | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 3,992,354,000 | $ 3,992,354,000 | $ 3,992,354,000 | $ 3,992,354,000 | ||||||||||||||||
Hospital | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 123,891,000 | $ 123,891,000 | $ 123,891,000 | $ 123,891,000 | ||||||||||||||||
Percentage of DFL Portfolio | 2.00% | 2.00% | 2.00% | 2.00% | ||||||||||||||||
Hospital | Performing Loans | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Net investment in direct financing leases | $ 123,891,000 | $ 123,891,000 | $ 123,891,000 | $ 123,891,000 | ||||||||||||||||
HCRMC | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Number of Facilities Acquired | property | 334 | |||||||||||||||||||
RIDEA III | Senior housing | Brookdale Senior Living | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Number of Facilities Acquired | property | 35 | |||||||||||||||||||
Nine Specified Properties to be Acquired [Member] | Post-acute/skilled | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Number of Facilities | property | 9 | |||||||||||||||||||
Aggregate purchase price for facilities | $ 275,000,000 | |||||||||||||||||||
Specified Properties Acquired [Member] | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Number of Facilities Acquired | property | 7 | |||||||||||||||||||
Specified Properties Acquired [Member] | Post-acute/skilled | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Number of Facilities | property | 2 | |||||||||||||||||||
Aggregate purchase price for facilities | 184,000,000 | 184,000,000 | 184,000,000 | $ 184,000,000 | ||||||||||||||||
HCRMC | ||||||||||||||||||||
Net Investment in Direct Financing Leases | ||||||||||||||||||||
Carrying value, equity method investments | 0 | $ 0 | $ 0 | 0 | ||||||||||||||||
Cash income | 482,770,000 | 519,280,000 | 502,354,000 | |||||||||||||||||
DFL accretion | 90,065,000 | 79,349,000 | 82,688,000 | |||||||||||||||||
Total DFL income | 572,835,000 | 598,629,000 | 585,042,000 | |||||||||||||||||
DFL accretion income recharacterized to equity income | 58,047,000 | 62,445,000 | 62,061,000 | |||||||||||||||||
Equity income | (7,324,000) | (9,270,000) | (6,460,000) | |||||||||||||||||
Total equity income | 50,723,000 | 53,175,000 | $ 55,601,000 | |||||||||||||||||
Impairment charges reducing equity investment | $ 19,000,000 | $ 27,000,000 | $ 19,000,000 | $ 36,000,000 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | May. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2013 | Jul. 31, 2012 |
Loans Receivable: | |||||
Mezzanine | $ 660,138 | $ 799,064 | |||
Loans receivable, other | 114,322 | 135,363 | |||
Unamortized premiums (discounts), fees and costs | (5,717) | (14,056) | |||
Allowance for loan losses | (13,410) | ||||
Loans receivable, net | $ 768,743 | 906,961 | |||
Percentage of Loan Portfolio | 100.00% | ||||
Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 768,743 | ||||
Real Estate Secured | |||||
Loans Receivable: | |||||
Loans receivable, other | 114,322 | 135,363 | |||
Unamortized premiums (discounts), fees and costs | 961 | ||||
Loans receivable, net | $ 115,283 | 135,363 | |||
Percentage of Loan Portfolio | 15.00% | ||||
Real Estate Secured | Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 115,283 | ||||
Other Secured | |||||
Loans Receivable: | |||||
Mezzanine | 660,138 | 799,064 | |||
Unamortized premiums (discounts), fees and costs | (6,678) | (14,056) | |||
Allowance for loan losses | (13,410) | ||||
Loans receivable, net | $ 653,460 | 771,598 | |||
Percentage of Loan Portfolio | 85.00% | ||||
Other Secured | Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 653,460 | ||||
Tandem Health Care Loan | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 256,000 | ||||
Tandem Health Care Loan | Maximum | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 205,000 | ||||
Tandem Health Care Loan - First Tranche | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 100,000 | ||||
Tandem Health Care Loan - Second Tranche | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 102,000 | ||||
Tandem Health Care Loan Third Tranche [Member] | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 50,000 | ||||
Tandem Health Care Loan Fourth Tranche [Member] | |||||
Loans Receivable: | |||||
Loans receivable, other | $ 5,000 | ||||
Delphis | |||||
Loans Receivable: | |||||
Allowance for loan losses | $ (13,000) |
Loans Receivable - Real Estate
Loans Receivable - Real Estate Secured Loans (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Mortgage Loans on Real Estate | |||
Number of loans receivable | item | 5 | ||
Principal Amount | $ 113,542 | ||
Carrying Amount | 115,283 | ||
Future contractual principal payments to be received on loans receivable secured by real estate in 2016 | 15,000 | ||
Future contractual principal payments to be received on loans receivable secured by real estate in 2017 | 79,000 | ||
Future contractual principal payments to be received on loans receivable secured by real estate in 2018 | 20,000 | ||
Interest income | 112,184 | $ 74,491 | $ 86,159 |
Real Estate Secured | |||
Mortgage Loans on Real Estate | |||
Interest income | 27,000 | ||
Interest receivable accrued | $ 1,000 | ||
Monthly interest-only payments, Tennessee, Maryland, Pennsylvania and Texas, due in 2016 | |||
Mortgage Loans on Real Estate | |||
Number of loans receivable | item | 1 | ||
Fixed interest rate (as a percent) | 8.50% | ||
Principal Amount | $ 15,135 | ||
Carrying Amount | $ 15,244 | ||
Monthly interest-only payments, New Jersey and Pennsylvania, 2017 | |||
Mortgage Loans on Real Estate | |||
Number of loans receivable | item | 3 | ||
Fixed interest rate (as a percent) | 8.50% | ||
Number of collateral facilities | item | 2 | ||
Principal Amount | $ 78,329 | ||
Carrying Amount | $ 79,291 | ||
Monthly interest-only payments, New Jersey and Pennsylvania, 2017 | LIBOR | |||
Mortgage Loans on Real Estate | |||
Variable interest rate (as a percent) | (1.00%) | ||
Monthly interest-only payments, Pennsylvania, 2018 | |||
Mortgage Loans on Real Estate | |||
Number of loans receivable | item | 1 | ||
Fixed interest rate (as a percent) | 8.00% | ||
Principal Amount | $ 20,078 | ||
Carrying Amount | 20,748 | ||
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 development projects | $ 2,000 | ||
Number of development projects | item | 4 |
Loans Receivable - Other Secure
Loans Receivable - Other Secured Loans (Details) $ in Thousands, £ in Millions | Sep. 06, 2013GBP (£) | Sep. 06, 2013USD ($) | May. 02, 2013GBP (£) | May. 02, 2013USD ($) | Dec. 31, 2015GBP (£) | Oct. 31, 2015USD ($) | Sep. 30, 2015GBP (£)property | Apr. 30, 2015GBP (£) | Feb. 28, 2015GBP (£) | Feb. 28, 2015USD ($) | Nov. 30, 2014GBP (£)propertyitem | Nov. 30, 2014USD ($)propertyitem | Dec. 31, 2015GBP (£)property | Dec. 31, 2015USD ($)property | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($) | May. 31, 2015USD ($) | Feb. 28, 2015USD ($) | Jun. 30, 2013USD ($) | Jul. 31, 2012USD ($) | Jun. 30, 2012GBP (£) |
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 135,363 | $ 114,322 | |||||||||||||||||||
Amount draw on the revolving line of credit facility | $ 98,743 | 845,190 | |||||||||||||||||||
Allowance for loan losses | 13,410 | ||||||||||||||||||||
NHP[Member] | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Number of facilities | property | 273 | 273 | |||||||||||||||||||
Number of beds acquired | item | 12,500 | 12,500 | |||||||||||||||||||
Barchester Loan | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable purchased, face or par value | £ | £ 121 | ||||||||||||||||||||
Loans receivable purchased, discount | £ 109 | $ 170,000 | |||||||||||||||||||
Cash payments received from borrower | £ 129 | $ 202,000 | |||||||||||||||||||
Interest income related to loans | $ 24,000 | ||||||||||||||||||||
Real Estate Secured | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | 135,363 | 114,322 | |||||||||||||||||||
Other Secured | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Allowance for loan losses | 13,410 | ||||||||||||||||||||
HC-One Facility | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loan facility maximum | £ 502 | £ 395 | $ 795,000 | ||||||||||||||||||
Amount drawn at closing | $ (574,000) | ||||||||||||||||||||
Amount draw on the revolving line of credit facility | £ | £ 363 | ||||||||||||||||||||
Term of facility | 5 years | 5 years | |||||||||||||||||||
Increase in loan facility | £ 11 | £ 108 | $ 164,000 | ||||||||||||||||||
Amount of facility converted into sale-leaseback transaction | £ | £ 174 | ||||||||||||||||||||
Paydowns received | £ | £ 34 | ||||||||||||||||||||
Non-call period shortened | 17 months | ||||||||||||||||||||
Number of properties spinoff into a separate joint venture | property | 36 | 36 | 36 | ||||||||||||||||||
Term to retain security over the spinoff properties | 2 years | ||||||||||||||||||||
Cash payments received from borrower | £ 34 | $ 52,000 | |||||||||||||||||||
HC-One Facility | Revolving line of credit facility | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Amount draw on the revolving line of credit facility | £ | £ 355 | ||||||||||||||||||||
Tandem Health Care Loan | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 256,000 | ||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 11.50% | 11.50% | 11.50% | ||||||||||||||||||
Loan receivable subordinated to senior mortgage debt | $ 381,000 | ||||||||||||||||||||
Tandem Health Care Loan | Maximum | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 205,000 | ||||||||||||||||||||
Tandem Health Care Loan - First Tranche | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 100,000 | ||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 12.00% | 12.00% | 12.00% | 12.00% | |||||||||||||||||
Tandem Health Care Loan - Second Tranche | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 102,000 | ||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 14.00% | 14.00% | 14.00% | ||||||||||||||||||
Tandem Health Care Loan Third Tranche [Member] | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 50,000 | ||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Tandem Health Care Loan Fourth Tranche [Member] | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loans receivable, other | $ 5,000 | ||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Delphis | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Cash payments received from borrower | $ 23,000 | $ 23,000 | 1,000 | ||||||||||||||||||
Loan receivable impairment recovery recognized | $ 6,000 | ||||||||||||||||||||
Loans receivable, net reported amount | 17,000 | ||||||||||||||||||||
Allowance for loan losses | $ 13,000 | ||||||||||||||||||||
Four Seasons | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loan receivable, interest rate payable (as a percent) | 12.25% | ||||||||||||||||||||
Marketable debt security, par value | £ 28 | £ 28 | $ 42,000 | £ 138.5 | |||||||||||||||||
Held To Maturity Securities Issued And Outstanding | £ | £ 40 | £ 40 | £ 175 | ||||||||||||||||||
Four Seasons | LIBOR | |||||||||||||||||||||
Loans Receivable: | |||||||||||||||||||||
Loan, basis spread on variable rate | 6.00% |
Investments in and Advances t71
Investments in and Advances to Unconsolidated Joint Ventures - Equity Method Investments (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Mar. 30, 2015 | |
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 605,244 | $ 605,448 | $ 605,244 | $ 605,448 | |||
Other than temporary impairment charge | $ 45,895 | 35,913 | |||||
Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Number of unconsolidated joint ventures | item | 2 | ||||||
Other than temporary impairment charge | 19,000 | $ 27,000 | $ 36,000 | ||||
MBK | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 50.00% | ||||||
CCRC JV | Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 465,179 | $ 465,179 | |||||
Investment ownership percentage | 49.00% | 49.00% | |||||
HCRMC | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Other than temporary impairment charge | $ 19,000 | $ 27,000 | $ 19,000 | $ 36,000 | |||
HCRMC | Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Number of unconsolidated joint ventures | item | 2 | ||||||
HCRMC | Post-acute/skilled | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 9.00% | 9.00% | |||||
MBK JV | Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 34,131 | $ 34,131 | |||||
Investment ownership percentage | 50.00% | 50.00% | 50.00% | ||||
MBK Development JV | Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 2,224 | $ 2,224 | |||||
Investment ownership percentage | 50.00% | 50.00% | |||||
HCP Ventures III, LLC | Medical office | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 9,241 | $ 9,241 | |||||
Investment ownership percentage | 30.00% | 30.00% | |||||
HCP Ventures IV | Hospital and medical office segments | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 11,884 | $ 11,884 | |||||
Investment ownership percentage | 20.00% | 20.00% | |||||
HCP Life Science | Life science | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 68,582 | $ 68,582 | |||||
Number of unconsolidated joint ventures | item | 3 | ||||||
HCP Life Science | Life science | Minimum | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 50.00% | 50.00% | |||||
Torrey Pines Science Center, LP | Life science | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 50.00% | 50.00% | |||||
Britannia Biotech Gateway, LP | Life science | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 55.00% | 55.00% | |||||
LASDK, LP | Life science | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investment ownership percentage | 63.00% | 63.00% | |||||
Vintage Park | Senior housing | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 8,729 | $ 8,729 | |||||
Investment ownership percentage | 85.00% | 85.00% | |||||
Suburban Properties, LLC | Medical office | |||||||
Company owned interests in entities, accounted under equity method: | |||||||
Investments in and advances to unconsolidated joint ventures | $ 4,621 | $ 4,621 | |||||
Investment ownership percentage | 67.00% | 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 | $ 653 | $ 653 |
Investments in and Advances t72
Investments in and Advances to Unconsolidated Joint Ventures - Combined Financial Information for the unconsolidated joint ventures(Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Summarized combined financial information for equity method investments: | |||||
Real estate, net | $ 4,470,249 | $ 4,470,249 | $ 4,537,553 | ||
Goodwill and other assets, net | 4,935,343 | 4,935,343 | 4,920,604 | ||
Assets held for sale | 94,866 | 94,866 | 662,740 | ||
Total assets | 9,500,458 | 9,500,458 | 10,120,897 | ||
Capital lease obligations and mortgage debt | 6,575,531 | 6,575,531 | 6,733,943 | ||
Accounts payable | 1,111,350 | 1,111,350 | 974,206 | ||
Liabilities and mortgage debt held for sale | 6,318 | 6,318 | 505,703 | ||
Other partners' capital | 1,163,501 | 1,163,501 | 1,281,413 | ||
HCP's capital | 643,758 | 643,758 | 625,632 | ||
Total liabilities and partners' capital | 9,500,458 | 9,500,458 | 10,120,897 | ||
Combined basis difference | 39,000 | 39,000 | |||
Total revenues | 4,464,317 | 4,284,747 | $ 4,189,793 | ||
Income (loss) from discontinued operations | 38,071 | (24,422) | (22,030) | ||
Net loss | (83,277) | (411,385) | (354,079) | ||
HCP's share of earnings | 57,313 | 49,570 | 64,433 | ||
Fees earned by HCP | 1,873 | 1,809 | 1,847 | ||
Distributions received by HCP | 46,100 | 7,702 | 18,091 | ||
Goodwill, Impairment Loss | 0 | ||||
Valuation allowance | 531 | 531 | 88 | ||
Subsequent Events | |||||
Other than temporary impairment charge | 45,895 | 35,913 | |||
HCRMC | |||||
Summarized combined financial information for equity method investments: | |||||
HCP's share of earnings | 50,723 | 53,175 | 55,601 | ||
Subsequent Events | |||||
Other than temporary impairment charge | $ 19,000 | $ 27,000 | 19,000 | 36,000 | |
HCRMC | Post-acute/skilled | |||||
Summarized combined financial information for equity method investments: | |||||
Goodwill, Impairment Loss | 79,000 | ||||
Intangible assets, Impairment loss | 396,000 | ||||
Valuation allowance | 400,000 | ||||
Recharacterized DFL income to equity income | $ 58,000 | $ 62,000 | $ 62,000 | ||
Subsequent Events | |||||
Investment ownership percentage | 9.00% | 9.00% |
Investments in and Advances t73
Investments in and Advances to Unconsolidated Joint Ventures - Unconsolidated Joint Ventures (Details) $ in Thousands | Dec. 30, 2015USD ($)property | Sep. 25, 2015USD ($)item | Mar. 30, 2015USD ($)property | Aug. 29, 2014USD ($)item | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($)item |
Company owned interests in entities, accounted under equity method: | |||||||||||
Cash contributed | $ 770,325 | ||||||||||
Other than temporary impairment charge | 45,895 | $ 35,913 | |||||||||
Gain on sales of real estate | 6,377 | 3,288 | |||||||||
HCP's share of earnings | 57,313 | 49,570 | $ 64,433 | ||||||||
Distributions received by HCP | $ 46,100 | 7,702 | $ 18,091 | ||||||||
Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Other than temporary impairment charge | $ 19,000 | $ 27,000 | $ 36,000 | ||||||||
Medical office | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Disposition of Properties Sold Number | item | 2 | ||||||||||
Total Consideration for Disposition of Real Estate | $ 6,000 | ||||||||||
CCRC JV | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of retirement communities contributed to joint venture | item | 2 | ||||||||||
Fair value of retirement communities or properties contributed | $ 162,000 | ||||||||||
Carrying value of properties contributed | 92,000 | ||||||||||
Cash contributed | 370,000 | ||||||||||
Debt related to retirement communities or properties contributed | $ 569,000 | ||||||||||
Number of campuses | item | 14 | ||||||||||
MBK | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 50.00% | ||||||||||
MBK Development JV | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Payment to acquire land | $ 3,000 | ||||||||||
Number of units to be built | item | 74 | ||||||||||
MBK JV | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of campuses | property | 3 | ||||||||||
HCP Ventures III and IV, LLC | Hospital and medical office segments | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Total Consideration for Disposition of Real Estate | $ 634,000 | ||||||||||
Gain on sales of real estate | $ 59,000 | ||||||||||
HCP Ventures III and IV, LLC | Medical office | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Disposition of Properties Sold Number | property | 61 | ||||||||||
HCP Ventures III and IV, LLC | Hospital | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Disposition of Properties Sold Number | property | 3 | ||||||||||
Brookdale Senior Living | CCRC JV | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of retirement communities contributed to joint venture | item | 8 | ||||||||||
CCRC JV | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Debt related to retirement communities or properties contributed | $ 569,000 | ||||||||||
CCRC JV | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 49.00% | 49.00% | |||||||||
CCRC JV | Brookdale Senior Living | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of retirement communities contributed to joint venture | item | 8 | ||||||||||
CCRC JV | Brookdale Senior Living | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of retirement communities contributed to joint venture | item | 2 | ||||||||||
Fair value of retirement communities or properties contributed | $ 162,000 | ||||||||||
Carrying value of properties contributed | 92,000 | ||||||||||
Cash contributed | $ 370,000 | ||||||||||
HCRMC | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Other than temporary impairment charge | $ 19,000 | $ 27,000 | $ 19,000 | 36,000 | |||||||
HCP's share of earnings | $ 50,723 | $ 53,175 | $ 55,601 | ||||||||
HCRMC | Post-acute/skilled | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 9.00% | 9.00% | |||||||||
MBK JV | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Cash contributed | $ 27,000 | ||||||||||
Investment ownership percentage | 50.00% | 50.00% | 50.00% | ||||||||
MBK JV | MBK | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Debt related to retirement communities or properties contributed | $ 78,000 | ||||||||||
MBK JV | MBK | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Number of retirement communities contributed to joint venture | property | 3 | ||||||||||
Fair value of retirement communities or properties contributed | $ 126,000 | ||||||||||
MBK Development JV | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 50.00% | 50.00% | |||||||||
HCP Ventures III and IV, LLC | Hospital and medical office segments | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
HCP's share of earnings | $ 15,000 | ||||||||||
Distributions received by HCP | $ 45,000 | ||||||||||
HCP Ventures III, LLC | Medical office | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 30.00% | 30.00% | |||||||||
HCP Ventures IV | Hospital and medical office segments | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 20.00% | 20.00% | |||||||||
HCP Life Science | Life science | Minimum | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 50.00% | 50.00% | |||||||||
Torrey Pines Science Center, LP | Life science | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 50.00% | 50.00% | |||||||||
Britannia Biotech Gateway, LP | Life science | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 55.00% | 55.00% | |||||||||
LASDK, LP | Life science | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 63.00% | 63.00% | |||||||||
Vintage Park | Senior housing | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 85.00% | 85.00% | |||||||||
Suburban Properties, LLC | Medical office | |||||||||||
Company owned interests in entities, accounted under equity method: | |||||||||||
Investment ownership percentage | 67.00% | 67.00% |
Intangibles (Details)
Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Intangible assets and liabilities | |||
Gross intangible lease assets | $ 1,014,460 | $ 830,408 | |
Intangible assets, accumulated depreciation and amortization | 400,233 | 349,395 | |
Net intangible lease assets | $ 614,227 | $ 481,013 | |
Remaining weighted-average amortization period of intangible assets | 14 years | 14 years | |
Below market leases, Gross intangible lease liabilities | $ 204,662 | $ 203,374 | |
Above market ground lease, Gross intangible lease liabilities | 6,121 | 6,121 | |
Gross intangible lease liabilities | 210,783 | 209,495 | |
Intangible liabilities, accumulated depreciation and amortization | 135,510 | 124,772 | |
Net intangible lease liabilities | $ 75,273 | $ 84,723 | |
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 | $ 4,000 | $ 3,000 | $ 9,000 |
Additional expense from the amortization of net above market ground lease intangibles included in operating expenses | 1,000 | 1,000 | 1,000 |
Additional expense from the amortization of lease-up and non-compete agreement intangibles included in depreciation and amortization expense | 76,000 | 60,000 | $ 59,000 |
Estimated aggregate amortization of Intangible Assets | |||
Estimated aggregate amortization of intangible assets, 2016 | 97,043 | ||
Estimated aggregate amortization of intangible assets, 2017 | 84,552 | ||
Estimated aggregate amortization of intangible assets, 2018 | 68,999 | ||
Estimated aggregate amortization of intangible assets, 2019 | 55,730 | ||
Estimated aggregate amortization of intangible assets, 2020 | 46,308 | ||
Estimated aggregate amortization of intangible assets, thereafter | 261,595 | ||
Net intangible lease assets | 614,227 | 481,013 | |
Estimate aggregate amortization of Intangible Liabilities | |||
Estimated aggregate amortization of intangible liabilities, 2016 | 17,545 | ||
Estimated aggregate amortization of intangible liabilities, 2017 | 15,118 | ||
Estimated aggregate amortization of intangible liabilities, 2018 | 12,413 | ||
Estimated aggregate amortization of intangible liabilities, 2019 | 9,758 | ||
Estimated aggregate amortization of intangible liabilities, 2020 | 6,047 | ||
Estimated aggregate amortization of intangible liabilities, thereafter | 14,392 | ||
Net intangible lease liabilities | 75,273 | 84,723 | |
Lease-up intangibles | |||
Intangible assets and liabilities | |||
Gross intangible lease assets | 801,513 | 608,323 | |
Tenant leases | Above market | |||
Intangible assets and liabilities | |||
Gross intangible lease assets | 155,048 | 163,146 | |
Ground leases | Below market | |||
Intangible assets and liabilities | |||
Gross intangible lease assets | $ 57,899 | $ 58,939 |
Other Assets (Details)
Other Assets (Details) $ in Thousands, £ in Millions | 1 Months Ended | 12 Months Ended | |||||
Dec. 31, 2015GBP (£)item | Dec. 31, 2015USD ($) | Jun. 30, 2012GBP (£) | Dec. 31, 2015USD ($) | Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Jun. 30, 2012USD ($) | |
Other assets | |||||||
Straight-line rent receivables, net of allowance of $33,648 and $34,182, respectively | $ 385,888 | $ 355,864 | |||||
Allowance on straight-line rent receivables | 33,648 | 34,182 | |||||
Marketable debt securities, net | 102,958 | 231,442 | |||||
Leasing costs and inducements, net | 158,708 | 146,500 | |||||
Goodwill | 50,346 | 50,346 | |||||
Other | 119,965 | 117,516 | |||||
Total other assets | 817,865 | 901,668 | |||||
Loans receivables | 768,743 | 906,961 | |||||
Realized gains on marketable debt securities sold | $ 11,000 | ||||||
Brookdale Senior Living | |||||||
Other assets | |||||||
Loans receivables | $ 9,000 | 26,000 | |||||
Number of installments | item | 8 | 8 | |||||
Four Seasons | |||||||
Other assets | |||||||
Marketable debt securities, net | £ 58 | $ 85,000 | |||||
Loan receivable, interest rate payable (as a percent) | 12.25% | 12.25% | |||||
Marketable debt security, par value | 28 | £ 138.5 | $ 42,000 | ||||
Marketable debt security, par value, discounted | £ 136.8 | $ 215,000 | |||||
Marketable debt security, issed and outstanding as a percentage | 79.00% | ||||||
Marketable debt security, issued and outstanding | £ | 40 | £ 175 | |||||
Interest payment received | £ 8 | $ 13,000 | |||||
HCP Ventures IV | |||||||
Other assets | |||||||
Loans receivables | $ 15,000 |
Debt (Details)
Debt (Details) $ in Thousands, £ in Millions | Dec. 01, 2015USD ($) | Jun. 08, 2015USD ($) | May. 20, 2015USD ($) | Mar. 01, 2015USD ($) | Jan. 21, 2015USD ($) | Jan. 12, 2015GBP (£) | Aug. 14, 2014USD ($) | Jun. 14, 2014USD ($) | Feb. 21, 2014USD ($) | Feb. 01, 2014USD ($) | Jul. 30, 2012GBP (£) | Dec. 31, 2015USD ($) | Dec. 31, 2015GBP (£)item | Dec. 31, 2015USD ($)item | Jan. 12, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument | ||||||||||||||||
Bank line of credit | $ 397,432 | $ 838,516 | ||||||||||||||
Debt instruments, carrying amount | 10,974,558 | |||||||||||||||
Term of the interest rate swap agreement | 3 years | |||||||||||||||
Repayments of Lines of Credit | $ 511,521 | |||||||||||||||
Senior unsecured notes | 9,120,107 | 7,589,960 | ||||||||||||||
Total debt before discount, net | 11,056,810 | |||||||||||||||
Discounts, net | (82,252) | |||||||||||||||
Other debt | 94,445 | $ 97,022 | ||||||||||||||
Debt maturing in 2016 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,015 | 1,381,228 | |||||||||||||||
Debt maturing in 2017 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,016 | 1,331,891 | |||||||||||||||
Debt maturing in 2018 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,017 | 1,004,015 | |||||||||||||||
Debt maturing in 2019 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,018 | 776,506 | |||||||||||||||
Debt maturing in 2020 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,019 | 802,078 | |||||||||||||||
Thereafter | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Thereafter | $ 5,761,092 | |||||||||||||||
Line of Credit and Term Loan | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt instrument, covenant debt to assets (as a percent) | 60.00% | 60.00% | ||||||||||||||
Debt instrument, covenant secured debt to assets (as a percent) | 30.00% | 30.00% | ||||||||||||||
Debt instrument, covenant unsecured debt to unencumbered assets (as a percent) | 60.00% | 60.00% | ||||||||||||||
Debt instrument, covenant minimum fixed charge coverage ratio | 1.5 | 1.5 | ||||||||||||||
Debt instrument, covenant net worth | $ 9,500,000 | |||||||||||||||
Bank Line of Credit | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 2,000,000 | |||||||||||||||
Extended debt instrument term | 1 year | |||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 0.925% | |||||||||||||||
Debt instrument, facility fee (as a percent) | 0.15% | |||||||||||||||
Line of credit facility additional aggregate amount, maximum | $ 500,000 | |||||||||||||||
Bank line of credit | £ | £ 270 | |||||||||||||||
Weighted-average interest rate (as a percent) | 1.72% | 1.72% | ||||||||||||||
Debt instruments, carrying amount | $ 397,432 | |||||||||||||||
Repayments of Lines of Credit | £ | £ 220 | |||||||||||||||
Total debt before discount, net | 397,432 | |||||||||||||||
Bank Line of Credit | Debt maturing in 2018 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,017 | 397,432 | |||||||||||||||
Term loans | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt instruments, carrying amount | 524,807 | |||||||||||||||
2016 | £ | £ 357 | |||||||||||||||
2019 | £ | £ 357 | |||||||||||||||
Total debt before discount, net | 526,468 | |||||||||||||||
Discounts, net | (1,661) | |||||||||||||||
Term loans | Debt maturing in 2016 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,015 | 202,034 | |||||||||||||||
Term loans | Debt maturing in 2019 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,018 | 324,434 | |||||||||||||||
2012 Term Loan | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 1.20% | |||||||||||||||
Debt instruments, carrying amount | £ 137 | $ 202,000 | ||||||||||||||
Maturity period of debt instruments | 4 years | |||||||||||||||
Debt instrument, variable rate basis | GBP LIBOR | |||||||||||||||
Length of debt instrument extension period | 1 year | |||||||||||||||
2012 Term Loan | Interest-rate swap contracts | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Term of the interest rate swap agreement | 4 years | |||||||||||||||
Derivative, fixed interest rate (as a percent) | 1.81% | |||||||||||||||
2015 Term Loan [Member] | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 0.975% | |||||||||||||||
Maturity period of debt instruments | 4 years | |||||||||||||||
Debt instrument, variable rate basis | GBP LIBOR | |||||||||||||||
Derivative, fixed interest rate (as a percent) | 1.79% | 1.79% | ||||||||||||||
Length of debt instrument extension period | 1 year | |||||||||||||||
Senior unsecured notes | £ 220 | $ 323,000 | ||||||||||||||
Senior Unsecured Notes | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Weighted-average interest rate (as a percent) | 4.68% | 4.68% | ||||||||||||||
Debt instruments, carrying amount | $ 9,120,107 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | 4.68% | ||||||||||||||
Total debt before discount, net | $ 9,200,000 | |||||||||||||||
Discounts, net | $ (79,893) | |||||||||||||||
Weighted-average maturity | 6 years | |||||||||||||||
Senior Unsecured Notes | Minimum | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.79% | 2.79% | ||||||||||||||
Senior Unsecured Notes | Maximum | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.88% | 6.88% | ||||||||||||||
Senior Unsecured Notes | Debt maturing in 2016 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.09% | 5.09% | ||||||||||||||
2,015 | $ 900,000 | |||||||||||||||
Senior Unsecured Notes | Debt maturing in 2017 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.02% | 6.02% | ||||||||||||||
2,016 | $ 750,000 | |||||||||||||||
Senior Unsecured Notes | Debt maturing in 2018 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.81% | 6.81% | ||||||||||||||
2,017 | $ 600,000 | |||||||||||||||
Senior Unsecured Notes | Debt maturing in 2019 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.97% | 3.97% | ||||||||||||||
2,018 | $ 450,000 | |||||||||||||||
Senior Unsecured Notes | Debt maturing in 2020 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.79% | 2.79% | ||||||||||||||
2,019 | $ 800,000 | |||||||||||||||
Senior Unsecured Notes | Thereafter | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.54% | 4.54% | ||||||||||||||
Thereafter | $ 5,700,000 | |||||||||||||||
Senior Unsecured, 3.40% notes due 2025 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Face Amount | $ 600,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.40% | |||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 591,000 | |||||||||||||||
Senior Unsecured 4.0% notes due 2025 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Face Amount | $ 750,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 739,000 | |||||||||||||||
Senior Unsecured, 4.0% notes due 2022 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Face Amount | $ 600,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 594,000 | |||||||||||||||
Senior Unsecured, 3.875% notes due 2024 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Face Amount | $ 800,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 792,000 | |||||||||||||||
Senior Unsecured, 4.20% notes due 2024 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Face Amount | $ 350,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | |||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 346,000 | |||||||||||||||
Senior Unsecured Debt 6.0 Percent Incepted March 1, 2015 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||||||||
Repayments of Senior Debt | $ 200,000 | |||||||||||||||
Senior Unsecured Debt 7.07 Percent Incepted June 8, 2015 [Member] | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.072% | |||||||||||||||
Repayments of Senior Debt | $ 200,000 | |||||||||||||||
Senior Unsecured Debt 6.0 Percent Incepted June 14, 2014 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||||||||
Repayments of Senior Debt | $ 62,000 | |||||||||||||||
Senior Unsecured, 2.70% notes due 2014 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | |||||||||||||||
Repayments of Senior Debt | $ 400,000 | |||||||||||||||
Mortgage Debt | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Weighted-average interest rate (as a percent) | 6.21% | 6.21% | ||||||||||||||
Debt instruments, carrying amount | $ 932,212 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.21% | 6.21% | ||||||||||||||
Number of healthcare facilities used to secure debt | item | 62 | 62 | ||||||||||||||
Debt instrument, collateral, healthcare facilities carrying value | $ 1,200,000 | |||||||||||||||
Total debt before discount, net | 932,910 | |||||||||||||||
Discounts, net | $ (698) | |||||||||||||||
Weighted-average maturity | 2 years | |||||||||||||||
Mortgage Debt | Minimum | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.14% | 3.14% | ||||||||||||||
Mortgage Debt | Maximum | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.35% | 8.35% | ||||||||||||||
Mortgage Debt | Debt maturing in 2016 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.84% | 6.84% | ||||||||||||||
2,015 | $ 279,194 | |||||||||||||||
Mortgage Debt | Debt maturing in 2017 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.08% | 6.08% | ||||||||||||||
2,016 | $ 581,891 | |||||||||||||||
Mortgage Debt | Debt maturing in 2018 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.90% | 5.90% | ||||||||||||||
2,017 | $ 6,583 | |||||||||||||||
Mortgage Debt | Debt maturing in 2019 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
2,018 | $ 2,072 | |||||||||||||||
Mortgage Debt | Debt maturing in 2020 | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.14% | 5.14% | ||||||||||||||
2,019 | $ 2,078 | |||||||||||||||
Mortgage Debt | Thereafter | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.98% | 4.98% | ||||||||||||||
Thereafter | $ 61,092 | |||||||||||||||
Demand Note | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | ||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 28,000 | |||||||||||||||
Non-interest Bearing Life Care Bonds | ||||||||||||||||
Debt Instrument | ||||||||||||||||
Other debt | $ 66,000 | |||||||||||||||
Number of CCRC issuing non-interest life care bonds | item | 2 | 2 | ||||||||||||||
Number of facilities with non-interest bearing occupancy fee deposits | item | 2 | 2 |
Commitments and Contingencies -
Commitments and Contingencies - Contractual Obligations (Details) - Dec. 31, 2015 $ in Thousands, £ in Millions | GBP (£) | USD ($) |
Material commitments | ||
Total | $ 535,593 | |
2,016 | 136,741 | |
2017-2018 | 36,884 | |
2019-2020 | 13,719 | |
More than Five Years | 348,249 | |
Credit Enhancement Guarantee | ||
Third party debt collateralized by facilities, debt amount | 98,000 | |
Third party debt collateralized by facilities, asset carrying amount | 366,000 | |
Ground and other operating leases | ||
Material commitments | ||
Total | 383,906 | |
2,016 | 7,870 | |
2017-2018 | 14,068 | |
2019-2020 | 13,719 | |
More than Five Years | 348,249 | |
Construction loan commitments | ||
Material commitments | ||
Total | 2,060 | |
2,016 | 2,060 | |
Development commitments | ||
Material commitments | ||
Total | 92,712 | |
2,016 | 92,712 | |
HC-One Facility | ||
Material commitments | ||
Total | £ 39 | 56,915 |
2,016 | 34,099 | |
2017-2018 | $ 22,816 |
Commitments and Contingencies78
Commitments and Contingencies - Maturities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Leases with purchase options, annualized base rent receivables in next five years and thereafter | |||
Leases with purchase option, annualized base rent receivables in 2016 | $ 32,062 | ||
Leases with purchase option, annualized base rent receivables in 2017 | 15,078 | ||
Leases with purchase option, annualized base rent receivables in 2018 | 19,352 | ||
Leases with purchase option, annualized base rent receivables in 2019 | 25,863 | ||
Leases with purcase option, annualized base rent receivables in 2020 | 13,647 | ||
Leases with purchase option, annualized base rent receivables thereafter | 54,009 | ||
Total leases with purchase option, annualized base rent receivables | $ 160,011 | ||
Number of properties with purchase options, annualized base rent receivables | |||
Number of properties with a purchase option, annualized base rent receivables in 2016 | item | 12 | ||
Number of properties with a purchase option, annualized base rent receivables in 2017 | item | 10 | ||
Number of properties with a purchase option, annualized base rent receivables in 2018 | item | 4 | ||
Number of properties with a purchase option, annualized base rent receivables in 2019 | item | 14 | ||
Number of properties with a purchase option, annualized base rent receivables in 2020 | item | 4 | ||
Number of properties with a purchase option, annualized base rent receivables thereafter | item | 32 | ||
Total number of properties with a purchase option, annualized base rent receivables | item | 76 | ||
Rental Expense | |||
Rental expense attributable to continuing operations | $ 10,000 | $ 8,000 | $ 8,000 |
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, 2016 | $ 7,870 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2017 | 7,160 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2018 | 6,908 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2019 | 7,063 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2020 | 6,656 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, Thereafter | 348,249 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, Total | $ 383,906 |
Equity (Details)
Equity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | Jan. 28, 2016$ / shares | Oct. 07, 2015USD ($)property | Oct. 31, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($)item$ / shares | Sep. 30, 2015$ / shares | Jun. 30, 2015$ / shares | Mar. 31, 2015$ / shares | Dec. 31, 2014USD ($)$ / shares | Sep. 30, 2014$ / shares | Jun. 30, 2014$ / shares | Mar. 31, 2014$ / shares | Dec. 31, 2015USD ($)item$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / sharesshares |
Equity | |||||||||||||||
Dividends declared per common share (in dollars per share) | $ / shares | $ 0.575 | $ 2.26 | $ 2.18 | $ 2.10 | |||||||||||
Dividends paid per common share (in dollars per share) | $ / shares | $ 0.565 | $ 0.565 | $ 0.565 | $ 0.565 | $ 0.545 | $ 0.545 | $ 0.545 | $ 0.545 | $ 2.26 | $ 2.18 | $ 2.10 | ||||
Maximum sales under equity offering program | $ 750,000 | ||||||||||||||
Common stock issued (in shares) | shares | 1,800 | ||||||||||||||
Weighted average price (in dollars per share) | $ / shares | $ 40.14 | $ 40.14 | |||||||||||||
Proceeds from issuance of common stock | $ 73,000 | ||||||||||||||
Stock issuance fees and commissions | 1,000 | ||||||||||||||
Company's common stock issuances | |||||||||||||||
Repurchase of common stock | 8,738 | $ 12,703 | $ 10,438 | ||||||||||||
Accumulated Other Comprehensive Loss | |||||||||||||||
Cumulative foreign currency translation adjustment | $ (19,485) | $ (10,747) | (19,485) | (10,747) | |||||||||||
Unrealized losses on cash flow hedges, net | (7,582) | (9,624) | (7,582) | (9,624) | |||||||||||
Supplemental Executive Retirement Plan minimum liability | (3,411) | (3,537) | (3,411) | (3,537) | |||||||||||
Unrealized gains on available for sale securities | 8 | 13 | 8 | 13 | |||||||||||
Total accumulated other comprehensive loss | (30,470) | (23,895) | $ (30,470) | (23,895) | |||||||||||
Noncontrolling interests | |||||||||||||||
Number of Down REIT units | item | 4,000,000 | ||||||||||||||
DownREIT unit, carrying value | $ 185,608 | $ 188,588 | $ 185,608 | $ 188,588 | |||||||||||
HCP Ventures V | |||||||||||||||
Noncontrolling interests | |||||||||||||||
Number of Real Estate Properties | property | 11 | ||||||||||||||
HCP Ventures V | |||||||||||||||
Noncontrolling interests | |||||||||||||||
Noncontrolling interest (as a percent) | 49.00% | 49.00% | |||||||||||||
Consideration received from sale of noncontrolling interest in HCP Ventures V | $ 110,000 | $ 110,000 | |||||||||||||
Common Stock | |||||||||||||||
Equity | |||||||||||||||
Common stock issued (in shares) | shares | 5,117 | 2,939 | 3,136 | ||||||||||||
Company's common stock issuances | |||||||||||||||
Dividend Reinvestment and Stock Purchase Plan (in shares) | shares | 2,762 | 2,299 | 2,441 | ||||||||||||
Conversion of DownREIT units (in shares) | shares | 104 | 27 | 100 | ||||||||||||
Exercise of stock options (in shares) | shares | 823 | 169 | 876 | ||||||||||||
Vesting of restricted stock units (in shares) | shares | 409 | 614 | 471 | ||||||||||||
Repurchase of common stock | $ 198 | $ 323 | $ 242 | ||||||||||||
Noncontrolling Interests | |||||||||||||||
Company's common stock issuances | |||||||||||||||
Conversion of DownREIT units (in shares) | shares | 6,000 | ||||||||||||||
Noncontrolling interests | |||||||||||||||
Non-managing members DownREIT units outstanding | item | 4,000,000 | 4,000,000 | |||||||||||||
Number of DownREIT LLCs | item | 5 | 5 | |||||||||||||
DownREIT unit, carrying value | $ 186,000 | $ 186,000 | |||||||||||||
DownREIT unit, fair value | $ 229,000 | $ 229,000 |
Segment Disclosures - Summary I
Segment Disclosures - Summary Information for the Reportable Segments (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Segment reporting information, revenues | ||||||||||||||
Number of reportable segments | item | 5 | |||||||||||||
Rental Revenues | $ 1,904,802 | $ 1,948,014 | $ 1,865,584 | |||||||||||
Resident Fees and Services | 525,453 | 241,965 | 146,288 | |||||||||||
Operating expenses | (614,375) | (384,603) | (298,282) | |||||||||||
NOI | 1,815,880 | 1,805,376 | 1,713,590 | |||||||||||
Non-cash adjustments to NOI | (108,958) | (158,376) | (132,552) | |||||||||||
Adjusted (Cash) NOI | 1,706,922 | 1,647,000 | 1,581,038 | |||||||||||
Interest Income | 112,184 | 74,491 | 86,159 | |||||||||||
Portfolio Income | 1,819,106 | 1,721,491 | 1,667,197 | |||||||||||
Addback non-cash adjustments | 108,958 | 158,376 | 132,552 | |||||||||||
Investment management fee income | 1,873 | 1,809 | 1,847 | |||||||||||
Interest expense | (479,596) | (439,742) | (435,252) | |||||||||||
Depreciation and amortization expense | (510,785) | (459,995) | (423,312) | |||||||||||
General and administrative expenses | (96,022) | (82,175) | (103,042) | |||||||||||
Acquisition and pursuit costs | (27,309) | (17,142) | (6,191) | |||||||||||
Impairments | (1,403,853) | |||||||||||||
Gain on sales of real estate, net of income taxes | 6,377 | 3,288 | ||||||||||||
Other income, net | 14,404 | 7,528 | 18,216 | |||||||||||
Income tax benefit (expense) | 9,011 | (250) | (5,815) | |||||||||||
Equity income from unconsolidated joint ventures | 57,313 | 49,570 | 64,433 | |||||||||||
Impairments of investments in unconsolidated joint ventures | (45,895) | (35,913) | ||||||||||||
Discontinued operations | $ 29,746 | 29,746 | 74,373 | |||||||||||
Net (loss) income | $ (594,617) | $ 117,954 | $ 167,748 | $ (237,503) | $ 199,630 | $ 251,059 | $ 222,279 | $ 263,623 | (546,418) | 936,591 | 985,006 | |||
Senior housing | ||||||||||||||
Segment reporting information, revenues | ||||||||||||||
Rental Revenues | 519,102 | 621,114 | 602,506 | |||||||||||
Resident Fees and Services | 525,453 | 241,965 | 146,288 | |||||||||||
Operating expenses | (374,617) | (167,407) | (95,603) | |||||||||||
NOI | 669,938 | 695,672 | 653,191 | |||||||||||
Non-cash adjustments to NOI | (16,127) | (78,197) | (58,699) | |||||||||||
Adjusted (Cash) NOI | 653,811 | 617,475 | 594,492 | |||||||||||
Interest Income | 28,718 | 14,249 | 11,621 | |||||||||||
Portfolio Income | 682,529 | 631,724 | 606,113 | |||||||||||
Impairments of investments in unconsolidated joint ventures | $ (19,000) | $ (27,000) | $ (36,000) | |||||||||||
Post-acute/skilled | ||||||||||||||
Segment reporting information, revenues | ||||||||||||||
Rental Revenues | 535,111 | 555,322 | 541,805 | |||||||||||
Operating expenses | (2,002) | (2,087) | (2,485) | |||||||||||
NOI | 533,109 | 553,235 | 539,320 | |||||||||||
Non-cash adjustments to NOI | (78,738) | (69,141) | (71,812) | |||||||||||
Adjusted (Cash) NOI | 454,371 | 484,094 | 467,508 | |||||||||||
Interest Income | 83,466 | 60,242 | 73,595 | |||||||||||
Portfolio Income | 537,837 | 544,336 | 541,103 | |||||||||||
Life science | ||||||||||||||
Segment reporting information, revenues | ||||||||||||||
Rental Revenues | 342,984 | 314,114 | 296,879 | |||||||||||
Operating expenses | (70,217) | (63,080) | (56,956) | |||||||||||
NOI | 272,767 | 251,034 | 239,923 | |||||||||||
Non-cash adjustments to NOI | (10,128) | (10,075) | (11,448) | |||||||||||
Adjusted (Cash) NOI | 262,639 | 240,959 | 228,475 | |||||||||||
Portfolio Income | 262,639 | 240,959 | 228,475 | |||||||||||
Medical office | ||||||||||||||
Segment reporting information, revenues | ||||||||||||||
Rental Revenues | 419,225 | 370,956 | 352,334 | |||||||||||
Operating expenses | (163,550) | (148,199) | (139,376) | |||||||||||
NOI | 255,675 | 222,757 | 212,958 | |||||||||||
Non-cash adjustments to NOI | (5,025) | (1,406) | (2,147) | |||||||||||
Adjusted (Cash) NOI | 250,650 | 221,351 | 210,811 | |||||||||||
Portfolio Income | 250,650 | 221,351 | 210,811 | |||||||||||
Hospital | ||||||||||||||
Segment reporting information, revenues | ||||||||||||||
Rental Revenues | 88,380 | 86,508 | 72,060 | |||||||||||
Operating expenses | (3,989) | (3,830) | (3,862) | |||||||||||
NOI | 84,391 | 82,678 | 68,198 | |||||||||||
Non-cash adjustments to NOI | 1,060 | 443 | 11,554 | |||||||||||
Adjusted (Cash) NOI | 85,451 | 83,121 | 79,752 | |||||||||||
Interest Income | 943 | |||||||||||||
Portfolio Income | $ 85,451 | $ 83,121 | $ 80,695 |
Segment Disclosures - Assets by
Segment Disclosures - Assets by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Disclosure | ||
Total assets | $ 21,449,849 | $ 21,331,436 |
Goodwill | 50,346 | 50,346 |
Impairment related to goodwill | 0 | |
Operating segment | ||
Segment Disclosure | ||
Gross assets | 23,334,330 | 23,042,397 |
Accumulated depreciation and amortization | (3,005,270) | (2,600,072) |
Total assets | 20,329,060 | 20,442,325 |
Operating segment | Senior housing | ||
Segment Disclosure | ||
Gross assets | 9,812,142 | 8,383,345 |
Goodwill | 31,000 | 31,000 |
Operating segment | Post-acute/skilled | ||
Segment Disclosure | ||
Gross assets | 5,162,947 | 6,875,122 |
Goodwill | 3,000 | 3,000 |
Operating segment | Life science | ||
Segment Disclosure | ||
Gross assets | 4,267,373 | 4,154,789 |
Operating segment | Medical office | ||
Segment Disclosure | ||
Gross assets | 3,469,048 | 2,988,888 |
Goodwill | 11,000 | 11,000 |
Operating segment | Hospital | ||
Segment Disclosure | ||
Gross assets | 622,820 | 640,253 |
Goodwill | 5,000 | 5,000 |
Other non-segment | ||
Segment Disclosure | ||
Total assets | $ 1,120,789 | $ 889,111 |
Future Minimum Rent (Details)
Future Minimum Rent (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Future minimum lease payments received | |
2,016 | $ 1,140,375 |
2,017 | 1,062,781 |
2,018 | 989,886 |
2,019 | 842,278 |
2,020 | 695,268 |
Thereafter | 3,601,248 |
Total | $ 8,331,836 |
Compensation Plans - Share Base
Compensation Plans - Share Based Compensation and Stock Options/Summary of the Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | May. 01, 2014 | |
Stock option activity | |||
Outstanding at the beginning of the year, Aggregate Intrinsic Value | $ 19,581,000 | ||
Outstanding at the end of the period, Aggregate Intrinsic Value | 4,521 | $ 19,581,000 | |
Exercisable, Aggregate Intrinsic Value | $ 4,521 | ||
Common 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) | 2,587,000 | ||
Granted (in shares) | 0 | ||
Exercised (in shares) | (823,000) | ||
Cancelled (in shares) | (2,000) | ||
Forfeited (in shares) | (24,000) | ||
Outstanding at the end of the period (in shares) | 1,738,000 | 2,587,000 | |
Exercisable (in shares) | 1,368,000 | ||
Outstanding at the beginning of the year, Weighted Average Exercise Price (in dollars per share) | $ 37 | ||
Weighted Average Exercise Price Exercised (in dollars per share) | 33.52 | ||
Weighted Average Exercise Price Cancelled (in dollars per share) | 42.69 | ||
Weighted Average Exercise Price Forfeited (in dollars per share) | 41.25 | ||
Outstanding at the end of the period, Weighted Average Exercise Price (in dollars per share) | 38.58 | $ 37 | |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 37.88 | ||
Weighted Average Remaining Contractual Term | 4 years 4 months 24 days | 5 years | |
Exercisable, Weighted Average Remaining Contractual Term | 3 years 6 months | ||
Common Stock Options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Stock-based awards, vesting period | 3 years | ||
Common 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 available for future awards (in shares) | 0 | ||
2014 Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Maximum number of shares reserved for awards (in shares) | 33,000,000 | ||
Maximum number of shares available for future awards (in shares) | 32,400,000 | ||
Maximum number of shares available for future awards to be issued as restricted stock and performance restricted stock unit | 21,600,000 |
Compensation Plans - Others (De
Compensation Plans - Others (Details) $ / shares in Units, $ in Millions | Feb. 02, 2015USD ($)$ / sharesshares | Feb. 03, 2014USD ($)$ / sharesshares | Dec. 31, 2015USD ($)item$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / sharesshares |
Termination | |||||
Deferred compensation cost | $ | $ 19 | ||||
Employee Benefit Plan | |||||
Matching contribution by Company, maximum percentage of participant's eligible compensation (as a percentage) | 4.00% | ||||
Matching contributions to Employee Benefit Plan | $ | $ 1 | $ 1 | $ 1 | ||
Common Stock Options | |||||
Shares Authorized under Stock Option Plan Exercise Price Range | |||||
Shares under Options (in shares) | shares | 1,738,000 | ||||
Weighted Average Exercise Price (in dollars per share) | $ 38.58 | ||||
Currently Exercisable - Shares Under Options (in shares) | shares | 1,368,000 | ||||
Currently Exercisable - Weighted Average Exercise Price (in dollars per share) | $ 37.88 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Unvested | |||||
Unvested at the beginning of the period (in shares) | shares | 906,000 | ||||
Vested (in shares) | shares | (512,000) | ||||
Forfeited (in shares) | shares | (24,000) | ||||
Unvested at the end of the period (in shares) | shares | 370,000 | 906,000 | |||
Unvested at the beginning of the period, weighted average grant date fair value (in dollars per share) | $ 4.85 | ||||
Vested, weighted average grant date fair value (in dollars per share) | 5.06 | ||||
Forfeited, weighted average grant date fair value (in dollars per share) | 4.58 | ||||
Unvested at the end of the period, weighted average grant date fair value (in dollars per share) | $ 4.59 | $ 4.85 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | |||||
Granted (in shares) | shares | 0 | ||||
Granted, weighted average grant date fair value (in dollars per share) | $ 3.80 | $ 5.89 | |||
Total vesting date intrinsic values (at vesting) of shares under options vested | $ | $ 1 | $ 7 | $ 12 | ||
Total intrinsic value of vested shares under options at the end of the period | $ | 5 | ||||
Proceeds received from options exercised | $ | 28 | 5 | 18 | ||
Total intrinsic value (at exercise) of options exercised | $ | $ 10 | $ 3 | $ 25 | ||
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) | 1.34% | 0.78% | |||
Expected life (in years) | 4 years 6 months | 4 years 6 months | |||
Expected volatility (as a percent) | 22.90% | 28.90% | |||
Expected dividend yield (as a percent) | 5.40% | 5.80% | |||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 10 years | ||||
Restricted Stock and Performance Restricted Stock Units | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Performance restricted stock unit is convertible into common stock (in shares) | item | 1 | ||||
Shares withheld to offset tax withholding obligations (in shares) | shares | 200,000 | 323,000 | 242,000 | ||
Unvested restricted stock and performance restricted stock units activity | |||||
Weighted-average remaining vesting period of restricted stock and restricted stock units | 1 year | ||||
Total fair values (at vesting) of restricted stock and restricted stock units vested | $ | $ 21 | $ 24 | $ 22 | ||
Restricted stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology | |||||
Risk-free rate (as a percent) | 0.33% | 0.22% | |||
Expected volatility (as a percent) | 17.94% | 21.74% | |||
Expected dividend yield (as a percent) | 4.79% | 5.61% | |||
Unvested restricted stock and performance restricted stock units activity | |||||
Unvested at the beginning of the period (in shares) | shares | 112,000 | ||||
Vested (in shares) | shares | (76,000) | ||||
Unvested at the end of the period (in shares) | shares | 36,000 | 112,000 | |||
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 38.69 | ||||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 37.26 | ||||
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 41.77 | $ 38.69 | |||
Restricted Stock Units | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Unvested at the beginning of the period (in shares) | shares | 900,000 | ||||
Granted (in shares) | shares | 402,000 | ||||
Vested (in shares) | shares | (409,000) | ||||
Forfeited (in shares) | shares | (26,000) | ||||
Unvested at the end of the period (in shares) | shares | 867,000 | 900,000 | |||
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 40.54 | ||||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | 48.56 | ||||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 44.79 | ||||
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | 43.74 | ||||
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 43.34 | $ 40.54 | |||
Minimum | Common Stock Options | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 3 years | ||||
Minimum | Restricted Stock and Performance Restricted Stock Units | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 1 year | ||||
Maximum | Common Stock Options | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 5 years | ||||
Maximum | Restricted Stock and Performance Restricted Stock Units | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 5 years | ||||
Former Chairman, Chief Executive Officer and President | |||||
Termination | |||||
Severance-related charges | $ | $ 27 | ||||
Accelerated deferred compensation on termination | $ | 17 | ||||
Severance payments and other costs | $ | $ 10 | ||||
Three Year LTIP Awards | Minimum | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Percentage of performance metrics during performance period | 0.00% | ||||
Three Year LTIP Awards | Maximum | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Percentage of performance metrics during performance period | 200.00% | ||||
2006 Incentive Plan | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 40.68 | ||||
Termination | |||||
Total share-based compensation expense recognized | $ | $ 26 | $ 22 | $ 40 | ||
Total unrecognized compensation cost, period of recognition | 3 years | ||||
2006 Incentive Plan | Three Year LTIP Awards | |||||
Restricted Stock and Performance Restricted Stock Units | |||||
Stock-based awards, vesting period | 3 years | ||||
Unvested restricted stock and performance restricted stock units activity | |||||
Granted (in shares) | shares | 176,088 | ||||
Total fair values (at vesting) of restricted stock and restricted stock units vested | $ | $ 7.2 | ||||
Weightage Allocated For TSRs Of MSCI US REIT Index | 25.00% | ||||
Weightage Allocated For TSRs Of NAREIT Health Care Index | 75.00% | ||||
2014 Incentive Plan | Three Year LTIP Awards | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Granted (in shares) | shares | 128,762 | ||||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 54.97 | ||||
Total fair values (at vesting) of restricted stock and restricted stock units vested | $ | $ 6.9 | ||||
2014 Incentive Plan | One Year LTIP Award | |||||
Unvested restricted stock and performance restricted stock units activity | |||||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 50.82 | ||||
23.34 - 25.52 | Common Stock Options | |||||
Shares Authorized under Stock Option Plan Exercise Price Range | |||||
Exercise Price Range, Lower Range Limit (in dollars per share) | $ 23.34 | ||||
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 25.52 | ||||
Shares under Options (in shares) | shares | 166,000 | ||||
Weighted Average Exercise Price (in dollars per share) | $ 23.34 | ||||
Weighted Average Remaining Contractual Term | 2 years 1 month 6 days | ||||
Currently Exercisable - Shares Under Options (in shares) | shares | 166,000 | ||||
Currently Exercisable - Weighted Average Exercise Price (in dollars per share) | $ 23.34 | ||||
27.11 - 28.35 | Common Stock Options | |||||
Shares Authorized under Stock Option Plan Exercise Price Range | |||||
Exercise Price Range, Lower Range Limit (in dollars per share) | 27.11 | ||||
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 28.35 | ||||
Shares under Options (in shares) | shares | 156,000 | ||||
Weighted Average Exercise Price (in dollars per share) | $ 28.35 | ||||
Weighted Average Remaining Contractual Term | 2 years 9 months 18 days | ||||
Currently Exercisable - Shares Under Options (in shares) | shares | 156,000 | ||||
Currently Exercisable - Weighted Average Exercise Price (in dollars per share) | $ 28.35 | ||||
31.95 - 46.92 | Common Stock Options | |||||
Shares Authorized under Stock Option Plan Exercise Price Range | |||||
Exercise Price Range, Lower Range Limit (in dollars per share) | 31.95 | ||||
Exercise Price Range, Upper Range Limit (in dollars per share) | $ 46.92 | ||||
Shares under Options (in shares) | shares | 1,416,000 | ||||
Weighted Average Exercise Price (in dollars per share) | $ 41.72 | ||||
Weighted Average Remaining Contractual Term | 4 years 9 months 18 days | ||||
Currently Exercisable - Shares Under Options (in shares) | shares | 1,046,000 | ||||
Currently Exercisable - Weighted Average Exercise Price (in dollars per share) | $ 41.60 |
Impairments - Equity Method Inv
Impairments - Equity Method Investments (Details) £ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013 | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | Sep. 30, 2015GBP (£) | Sep. 30, 2015USD ($) | Feb. 28, 2015USD ($) | |
Investment Impairments | |||||||||||||||
Carrying value of direct financing leases | $ 7,280,334,000 | $ 7,280,334,000 | $ 5,905,009,000 | ||||||||||||
Other than temporary impairment charge | $ 45,895,000 | 35,913,000 | |||||||||||||
Held-to-maturity debt securities, principal balance | 231,442,000 | 231,442,000 | 102,958,000 | ||||||||||||
Four Seasons | |||||||||||||||
Investment Impairments | |||||||||||||||
Held-to-maturity debt securities, principal balance | £ 58 | 85,000,000 | |||||||||||||
Four Seasons | Discounted cash flow valuation technique | Level 2 | |||||||||||||||
Investment Impairments | |||||||||||||||
Other than temporary impairment charge | $ 70,000,000 | $ 42,000,000 | |||||||||||||
Held-to-maturity debt securities, principal balance | £ 66 | $ 100,000,000 | |||||||||||||
HCRMC | |||||||||||||||
Investment Impairments | |||||||||||||||
Other than temporary impairment charge | $ 19,000,000 | $ 27,000,000 | $ 19,000,000 | 36,000,000 | |||||||||||
Carrying value, equity method investments | 0 | ||||||||||||||
Carrying value, equity method investments before impairment | 75,000,000 | 75,000,000 | 48,000,000 | ||||||||||||
Fair value of investment | 39,000,000 | 39,000,000 | 21,000,000 | ||||||||||||
HCRMC | Discounted cash flow valuation technique | |||||||||||||||
Investment Impairments | |||||||||||||||
Carrying value, equity method investments | 39,500,000 | $ 39,500,000 | |||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Discount Rate | 13.70% | ||||||||||||||
HCRMC | Discounted cash flow valuation technique | Minimum | |||||||||||||||
Investment Impairments | |||||||||||||||
Fair value of investment | 35,000,000 | $ 35,000,000 | |||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Range of revenue growth rate | (0.20%) | ||||||||||||||
Range of occupancy growth rates | (0.30%) | ||||||||||||||
Range of operating expense growth rates | 0.60% | ||||||||||||||
Range of earnings multiples | 6 | ||||||||||||||
HCRMC | Discounted cash flow valuation technique | Maximum | |||||||||||||||
Investment Impairments | |||||||||||||||
Fair value of investment | 44,000,000 | $ 44,000,000 | |||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Range of revenue growth rate | 3.50% | ||||||||||||||
Range of occupancy growth rates | 0.20% | ||||||||||||||
Range of operating expense growth rates | 2.80% | ||||||||||||||
Range of earnings multiples | 7 | ||||||||||||||
HCRMC | Discounted cash flow valuation technique | Level 3 | |||||||||||||||
Investment Impairments | |||||||||||||||
Impairment of Leasehold | $ 478,000,000 | ||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Discount Rate | 15.20% | ||||||||||||||
HCRMC | Discounted cash flow valuation technique | Level 3 | Minimum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Range of revenue growth rate | (1.80%) | ||||||||||||||
Range of occupancy growth rates | (0.80%) | ||||||||||||||
Range of operating expense growth rates | (1.10%) | ||||||||||||||
Range of earnings multiples | 6 | ||||||||||||||
HCRMC | Discounted cash flow valuation technique | Level 3 | Maximum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Range of revenue growth rate | 3.00% | ||||||||||||||
Range of occupancy growth rates | 0.20% | ||||||||||||||
Range of operating expense growth rates | 3.10% | ||||||||||||||
Range of earnings multiples | 7 | ||||||||||||||
HCRMC in Master Lease | |||||||||||||||
Investment Impairments | |||||||||||||||
Carrying value of direct financing leases | 6,100,000,000 | $ 6,600,000,000 | |||||||||||||
HCRMC in Master Lease | DFL | |||||||||||||||
Investment Impairments | |||||||||||||||
Impairment of Leasehold | $ 478,000,000 | $ 817,000,000 | |||||||||||||
Carrying value of direct financing leases | 5,200,000,000 | $ 6,000,000,000 | |||||||||||||
Senior housing | |||||||||||||||
Investment Impairments | |||||||||||||||
Carrying value of direct financing leases | 1,788,764,000 | ||||||||||||||
Other than temporary impairment charge | $ 19,000,000 | $ 27,000,000 | 36,000,000 | ||||||||||||
Senior housing | DFL | |||||||||||||||
Investment Impairments | |||||||||||||||
Carrying value of direct financing leases | $ 370,000,000 | $ 370,000,000 | 366,000,000 | ||||||||||||
Senior housing | HCRMC in Master Lease | DFL | Income approach | Minimum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
EBITDAR | $ 75,000,000 | ||||||||||||||
Rent Coverage Ratio | 1.05 | ||||||||||||||
Real Estate Capitalized rate | 6.25% | ||||||||||||||
Senior housing | HCRMC in Master Lease | DFL | Income approach | Maximum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
EBITDAR | $ 85,000,000 | ||||||||||||||
Rent Coverage Ratio | 1.15 | ||||||||||||||
Real Estate Capitalized rate | 7.25% | ||||||||||||||
Senior housing | HCRMC in Master Lease | DFL | Market approach | Level 2 | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Cash flow coverage ratio | 1.05% | ||||||||||||||
Post-acute/skilled | |||||||||||||||
Investment Impairments | |||||||||||||||
Carrying value of direct financing leases | $ 3,992,354,000 | ||||||||||||||
Post-acute/skilled | HCRMC | |||||||||||||||
Investment Impairments | |||||||||||||||
Investment ownership percentage | 9.00% | 9.00% | |||||||||||||
Post-acute/skilled | HCRMC in Master Lease | DFL | Income approach | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
EBITDAR | $ 435,000,000 | ||||||||||||||
Post-acute/skilled | HCRMC in Master Lease | DFL | Income approach | Minimum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
EBITDAR | $ 385,000,000 | ||||||||||||||
Rent Coverage Ratio | 1.25 | ||||||||||||||
Real Estate Capitalized rate | 7.50% | ||||||||||||||
Post-acute/skilled | HCRMC in Master Lease | DFL | Income approach | Maximum | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Rent Coverage Ratio | 1.35 | ||||||||||||||
Real Estate Capitalized rate | 8.50% | ||||||||||||||
Post-acute/skilled | HCRMC in Master Lease | DFL | Market approach | Level 2 | |||||||||||||||
Fair Value Quantitative Inputs | |||||||||||||||
Cash flow coverage ratio | 1.25% |
Impairments - Real Estate (Deta
Impairments - Real Estate (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Jul. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 | |
Property impairments | ||||||
Real estate impairment charges | $ 3,118,000 | |||||
Carrying value of aggregate investments | $ 12,501,511,000 | $ 10,972,973,000 | ||||
Medical office | ||||||
Property impairments | ||||||
Real estate impairment charges | $ 1,000,000 | |||||
Carrying value of aggregate investments | $ 7,000,000 | |||||
Medical office | Level 2 | ||||||
Property impairments | ||||||
Real estate impairment charges | $ 3,000,000 | |||||
Carrying value of aggregate investments | $ 400,000 | |||||
Real estate sold | $ 400,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Apr. 07, 2011 | |
Income tax disclosure | |||||||||||||||
Income (loss) before income taxes | $ (601,744,000) | $ 134,894,000 | $ 151,184,000 | $ (251,181,000) | $ 222,771,000 | $ 240,946,000 | $ 208,926,000 | $ 220,795,000 | $ (566,847,000) | $ 893,438,000 | $ 852,015,000 | ||||
Current | |||||||||||||||
Federal | 4,948,000 | 1,833,000 | 130,000 | ||||||||||||
State | 2,784,000 | 2,773,000 | 2,195,000 | ||||||||||||
Foreign | 828,000 | 223,000 | |||||||||||||
Total current | 8,560,000 | 4,829,000 | 2,325,000 | ||||||||||||
Deferred | |||||||||||||||
Federal | (11,317,000) | (3,278,000) | 3,045,000 | ||||||||||||
State | (1,382,000) | (347,000) | 445,000 | ||||||||||||
Foreign | (4,872,000) | (954,000) | |||||||||||||
Total deferred | (17,571,000) | (4,579,000) | 3,490,000 | ||||||||||||
Total income tax (benefit) expense | (9,011,000) | 250,000 | 5,815,000 | ||||||||||||
Reconciliation of the income tax expense at statutory rates to the actual income tax expense recorded | |||||||||||||||
Tax (benefit) expense at U.S. federal statutory income tax rate on income or loss subject to tax | (12,630,000) | (2,131,000) | 3,582,000 | ||||||||||||
State income tax expense, net of federal tax | 93,000 | 764,000 | 928,000 | ||||||||||||
Gross receipts and margin taxes | 1,480,000 | 1,699,000 | 1,553,000 | ||||||||||||
Foreign rate differential | 2,269,000 | 554,000 | |||||||||||||
Effect of permanent differences | (298,000) | (196,000) | (221,000) | ||||||||||||
Return to provision adjustments | (368,000) | (528,000) | (27,000) | ||||||||||||
Increase in valuation allowance | 443,000 | 88,000 | |||||||||||||
Total income tax (benefit) expense | (9,011,000) | 250,000 | 5,815,000 | ||||||||||||
The significant components of the Company’s deferred tax assets and liabilities | |||||||||||||||
Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets, and the treatment of interests and certain costs | $ 19,862,000 | $ 3,418,000 | $ 707,000 | ||||||||||||
Net operating loss carryforward | 3,703,000 | 484,000 | 749,000 | ||||||||||||
Expense accruals and other | (753,000) | 462,000 | (4,000) | ||||||||||||
Valuation allowance | (531,000) | (88,000) | |||||||||||||
Net deferred tax assets | 22,281,000 | 4,276,000 | 1,452,000 | ||||||||||||
Deferred income tax expense (benefit) | (17,571,000) | (4,579,000) | 3,490,000 | ||||||||||||
Amount that tax basis of net assets is less than reported amounts | 6,500,000,000 | ||||||||||||||
U.K. income tax benefit | (828,000) | (223,000) | |||||||||||||
State | 2,784,000 | 2,773,000 | 2,195,000 | ||||||||||||
Federal | 4,948,000 | 1,833,000 | 130,000 | ||||||||||||
Unrecognized tax benefits | 0 | 0 | 0 | 0 | 0 | 0 | $ 0 | ||||||||
Reconciliation of unrecognized tax benefits | |||||||||||||||
Balance at the beginning of the year | $ 0 | 0 | |||||||||||||
Balance at the end of the year | $ 0 | $ 0 | 0 | 0 | |||||||||||
UNITED KINGDOM | |||||||||||||||
Income tax disclosure | |||||||||||||||
Income (loss) before income taxes | (15,000,000) | 4,000,000 | |||||||||||||
TRS | |||||||||||||||
Income tax disclosure | |||||||||||||||
Income (loss) before income taxes | 22,000,000 | 2,000,000 | 10,000,000 | ||||||||||||
The significant components of the Company’s deferred tax assets and liabilities | |||||||||||||||
Net operating loss carryforward | $ 10,000,000 | ||||||||||||||
SEUSA | |||||||||||||||
The significant components of the Company’s deferred tax assets and liabilities | |||||||||||||||
Unrecognized tax benefits | 1,087,000 | 1,087,000 | 1,977,000 | $ 1,087,000 | |||||||||||
Reconciliation of unrecognized tax benefits | |||||||||||||||
Balance at the beginning of the year | $ 1,087,000 | 1,087,000 | 1,977,000 | ||||||||||||
Reductions based on prior years' tax positions | (1,087,000) | (890,000) | |||||||||||||
Balance at the end of the year | $ 1,087,000 | ||||||||||||||
HCRMC | |||||||||||||||
The significant components of the Company’s deferred tax assets and liabilities | |||||||||||||||
Decrease in unrecognized tax benefits due to lapse in the statute of limitations | $ 1,000,000 | $ 1,000,000 | |||||||||||||
Unrecognized tax benefits | $ 2,000,000 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) $ / shares in Units, $ in Thousands, item in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2015$ / shares | Sep. 30, 2015$ / shares | Jun. 30, 2015$ / shares | Mar. 31, 2015$ / shares | Dec. 31, 2014$ / shares | Sep. 30, 2014$ / shares | Jun. 30, 2014$ / shares | Mar. 31, 2014USD ($)$ / shares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)item$ / sharesshares | Dec. 31, 2013USD ($)item$ / sharesshares | Dec. 31, 2012itemshares | |
Numerator | ||||||||||||
(Loss) income from continuing operations | $ (546,418) | $ 906,845 | $ 910,633 | |||||||||
Noncontrolling interests' share in continuing operations | (12,817) | (13,181) | (14,110) | |||||||||
(Loss) income from continuing operations applicable to HCP, Inc. | (559,235) | 893,664 | 896,523 | |||||||||
Participating securities' share in earnings | (1,317) | (2,437) | (1,734) | |||||||||
(Loss) income from continuing operations applicable to common shares | (560,552) | 891,227 | 894,789 | |||||||||
Discontinued operations | $ 29,746 | 29,746 | 74,373 | |||||||||
Noncontrolling interests' share in discontinued operations | (1,177) | (59) | ||||||||||
Net (loss) income applicable to common shares | $ (560,552) | $ 919,796 | $ 969,103 | |||||||||
Denominator | ||||||||||||
Basic weighted average common shares | shares | 462,795,000 | 458,425,000 | 455,002,000 | |||||||||
Dilutive potential common shares | shares | 371,000 | 700,000 | ||||||||||
Diluted weighted average common shares | shares | 462,795,000 | 458,796,000 | 455,702,000 | |||||||||
Basic earnings per common share | ||||||||||||
(Loss) income from continuing operations | $ / shares | $ (1.21) | $ 1.94 | $ 1.97 | |||||||||
Discontinued operations (in dollars per share) | $ / shares | 0.07 | 0.16 | ||||||||||
Net (loss) income applicable to common shares (in dollars per share) | $ / shares | $ (1.290) | $ 0.250 | $ 0.360 | $ (0.520) | $ 0.43 | $ 0.54 | $ 0.48 | $ 0.56 | (1.21) | 2.01 | 2.13 | |
Diluted earnings per common share | ||||||||||||
(Loss) income from continuing operations | $ / shares | (1.21) | 1.94 | 1.97 | |||||||||
Discontinued operations (in dollars per share) | $ / shares | 0.06 | 0.16 | ||||||||||
Net (loss) income applicable to common shares (in dollars per share) | $ / shares | $ (1.290) | $ 0.250 | $ 0.360 | $ (0.520) | $ 0.43 | $ 0.54 | $ 0.48 | $ 0.56 | $ (1.21) | $ 2 | $ 2.13 | |
Common Stock Options | ||||||||||||
Diluted earnings per common share | ||||||||||||
Shares of anti-dilutive securities excluded from earnings per share calculation | shares | 1,400,000 | 800,000 | ||||||||||
Down REIT | ||||||||||||
Diluted earnings per common share | ||||||||||||
Shares of anti-dilutive securities excluded from earnings per share calculation | shares | 6,000,000 | 6,000,000 | 6,000,000 | |||||||||
DownREIT LLCs, non-managing member units outstanding | item | 4 | 4 | 4 |
Supplemental Cash Flow Inform89
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Supplemental cash flow information: | |||
Interest paid, net of capitalized interest | $ 451,615 | $ 410,286 | $ 412,011 |
Income taxes paid | 6,959 | 5,071 | 114 |
Capitalized interest | 8,798 | 10,314 | 13,494 |
Supplemental schedule of non-cash investing activities: | |||
Accrued construction costs | 52,511 | 37,178 | 15,187 |
Settlement of loans receivable as consideration for real estate acquisition | 299,297 | ||
Loan originated in connection with Brookdale Transaction | 67,640 | ||
Real estate contributed to CCRC-JV | 91,603 | ||
Fair value of real estate acquired in exchange for sale of real estate | 32,000 | 15,204 | |
Tenant funded tenant improvements owned by HCP | 28,850 | 21,863 | |
Reclassification of the in-place leases from real estate to DFLs | 123,891 | ||
Supplemental schedule of non-cash financing activities: | |||
Vesting of restricted stock units | 409 | 614 | 471 |
Conversion of non-managing member units into common stock | 2,979 | 473 | 3,583 |
Noncontrolling interest and other liabilities, net assumed in connection with the RIDEA III acquisition | 61,219 | ||
Noncontrolling interest issued in connection with Brookdale Transaction | 46,751 | ||
Noncontrolling interest issued in connection with real estate acquisition | 10,971 | 6,321 | |
Noncontrolling interest disposed in connection with real estate sales | 1,671 | ||
Mortgages and other liabilities assumed with real estate acquisitions | 23,218 | 37,149 | 12,767 |
Foreign currency translation adjustment | (8,738) | (9,967) | 47 |
Unrealized (losses) on available-for-sale securities and derivatives designated as cash flow hedges, net | $ 1,889 | $ 2,271 | $ 7,790 |
Variable Interest Entities (Det
Variable Interest Entities (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2011 | Dec. 31, 2015USD ($)propertyitem | Aug. 29, 2014 | |
Company's involvement with VIEs: | |||
Joint Venture Ownership Percentage | 49.00% | ||
Unconsolidated Variable Interest Entities | |||
Company's involvement with VIEs: | |||
Number of properties leased | item | 366 | ||
Number of VIE tenants | item | 7 | ||
CCRC OpCo | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 232,404 | ||
Assets/liability type | Investments in unconsolidated joint ventures | ||
Carrying amount | $ 232,404 | ||
Vintage Park | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 8,729 | ||
Assets/liability type | Investments in unconsolidated joint ventures | ||
Carrying amount | $ 8,729 | ||
Ownership percentage (as a percent) | 85.00% | ||
VIE tenants-operating leases | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 10,727 | ||
Assets/liability type | Lease intangibles, net and straight-line rent receivables | ||
Carrying amount | $ 10,727 | ||
HCRMC | |||
Company's involvement with VIEs: | |||
Number of properties leased | property | 318 | ||
Maximum Loss Exposure | $ 5,154,315 | ||
Assets/liability type | Net investment in DFLs and investments in unconsolidated joint ventures | ||
Carrying amount | $ 5,154,315 | ||
VIE tenants-DFLs | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 599,652 | ||
Assets/liability type | Net investment in DFLs | ||
Carrying amount | $ 599,652 | ||
Four Seasons | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 127,435 | ||
Assets/liability type | Loans and marketable debt securities | ||
Carrying amount | $ 127,435 | ||
CMBS | |||
Company's involvement with VIEs: | |||
Maximum Loss Exposure | $ 17,930 | ||
Assets/liability type | Marketable debt securities | ||
Carrying amount | $ 17,930 | ||
Consolidated Variable Interest Entities | |||
Company's involvement with VIEs: | |||
Ownership percentage (as a percent) | 90.00% | ||
RIDEA II | |||
Company's involvement with VIEs: | |||
Ownership percentage (as a percent) | 80.00% | ||
RIDEA III OpCo | |||
Company's involvement with VIEs: | |||
Ownership percentage (as a percent) | 90.00% |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair value assets and liabilities measured on recurring basis: | ||
Exercise of warrants classified as Level 3 within the fair value hierarchy in exchange for marketable equity securities classified as Level 1 | $ 2,000 | |
Fair value on a recurring basis | Level 1 | ||
Fair value assets and liabilities measured on recurring basis: | ||
Marketable equity securities | 39 | |
Fair value on a recurring basis | Level 2 | Interest-rate swap contracts | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 196 | |
Derivative liabilities | (6,251) | |
Fair value on a recurring basis | Level 2 | Currency Swap | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 1,551 | |
Fair value on a recurring basis | Level 3 | Warrants | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 55 | |
Fair Value | Level 1 | ||
Fair value assets and liabilities measured on recurring basis: | ||
Marketable equity securities | 39 | $ 43 |
Fair Value | Level 2 | Interest-rate swap contracts | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 196 | 178 |
Derivative liabilities | 6,251 | 7,663 |
Fair Value | Level 2 | Currency Swap | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 1,551 | 929 |
Fair Value | Level 3 | Warrants | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 55 | $ 2,220 |
Fair Value | Fair value on a recurring basis | ||
Fair value assets and liabilities measured on recurring basis: | ||
Marketable equity securities | 39 | |
Fair Value | Fair value on a recurring basis | Interest-rate swap contracts | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 196 | |
Derivative liabilities | (6,251) | |
Fair Value | Fair value on a recurring basis | Currency Swap | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | 1,551 | |
Fair Value | Fair value on a recurring basis | Warrants | ||
Fair value assets and liabilities measured on recurring basis: | ||
Derivative assets | $ 55 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of the Carrying Amounts and Fair Values of the Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Summary of financial instruments | ||
Bank line of credit | $ 397,432 | $ 838,516 |
Senior unsecured notes | 9,120,107 | 7,589,960 |
Mortgage debt | 932,212 | 982,785 |
Other debt | 94,445 | 97,022 |
Carrying Value | ||
Summary of financial instruments | ||
Loans receivable, net | 768,743 | 906,961 |
Marketable debt securities | 102,958 | 231,442 |
Marketable equity securities | 39 | 43 |
Bank line of credit | 397,432 | 838,516 |
Term loan | 524,807 | 212,986 |
Senior unsecured notes | 9,120,107 | 7,589,960 |
Mortgage debt | 932,212 | 982,785 |
Other debt | 94,445 | 97,022 |
Carrying Value | Warrants | ||
Summary of financial instruments | ||
Derivative assets | 55 | 2,220 |
Carrying Value | Interest-rate swap contracts | ||
Summary of financial instruments | ||
Derivative assets | 196 | 178 |
Derivative liabilities | 6,251 | 7,663 |
Carrying Value | Currency Swap | ||
Summary of financial instruments | ||
Derivative assets | 1,551 | 929 |
Fair Value | Level 1 | ||
Summary of financial instruments | ||
Marketable debt securities | 102,958 | 252,125 |
Marketable equity securities | 39 | 43 |
Senior unsecured notes | 9,390,668 | 8,187,458 |
Fair Value | Level 2 | ||
Summary of financial instruments | ||
Loans receivable, net | 770,052 | 898,522 |
Bank line of credit | 397,432 | 838,516 |
Term loan | 524,807 | 212,986 |
Mortgage debt | 963,786 | 1,025,091 |
Other debt | 94,445 | 97,022 |
Fair Value | Warrants | Level 3 | ||
Summary of financial instruments | ||
Derivative assets | 55 | 2,220 |
Fair Value | Interest-rate swap contracts | Level 2 | ||
Summary of financial instruments | ||
Derivative assets | 196 | 178 |
Derivative liabilities | 6,251 | 7,663 |
Fair Value | Currency Swap | Level 2 | ||
Summary of financial instruments | ||
Derivative assets | $ 1,551 | $ 929 |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details) $ in Thousands | Jan. 01, 2015item | Aug. 29, 2014item | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | Dec. 31, 2012USD ($) |
Balance Sheets: | ||||||||||||||
Real estate and other property, net | $ 12,282,716 | $ 10,886,887 | $ 12,282,716 | $ 10,886,887 | ||||||||||
Cash and cash equivalents | 346,500 | 183,810 | 346,500 | 183,810 | $ 300,556 | $ 247,673 | ||||||||
Goodwill, intangible and other assets, net | 817,865 | 901,668 | 817,865 | 901,668 | ||||||||||
Total assets | 21,449,849 | 21,331,436 | 21,449,849 | 21,331,436 | ||||||||||
Accounts payable, accrued liabilities and other | 436,239 | 432,934 | 436,239 | 432,934 | ||||||||||
Total equity | 9,746,317 | 10,997,099 | 9,746,317 | 10,997,099 | 10,931,134 | $ 10,753,777 | ||||||||
Total liabilities and equity | 21,449,849 | 21,331,436 | 21,449,849 | 21,331,436 | ||||||||||
Income Statements: | ||||||||||||||
Revenues | 668,036 | $ 657,953 | $ 607,532 | $ 610,791 | 603,528 | $ 596,638 | $ 536,121 | $ 529,992 | 2,544,312 | 2,266,279 | 2,099,878 | |||
Operating, general and administrative expense | (614,375) | (384,603) | (298,282) | |||||||||||
Depreciation and amortization expense | (510,785) | (459,995) | (423,312) | |||||||||||
Interest expense | (479,596) | (439,742) | (435,252) | |||||||||||
Other income, net | 20,781 | 10,816 | 18,216 | |||||||||||
Gain on sales of real estate | 6,377 | 3,288 | ||||||||||||
Income tax (benefit) expense | (9,011) | 250 | 5,815 | |||||||||||
(Loss) income from continuing operations | (546,418) | 906,845 | 910,633 | |||||||||||
Income (loss) from discontinued operations, net of taxes | 29,746 | 29,746 | 74,373 | |||||||||||
Net (loss) income | $ (594,617) | $ 117,954 | $ 167,748 | $ (237,503) | $ 199,630 | $ 251,059 | $ 222,279 | $ 263,623 | $ (546,418) | 936,591 | 985,006 | |||
Brookdale Senior Living | Minimum | ||||||||||||||
Income Statements: | ||||||||||||||
Percentage of EDITDAR payable as base management fee | 4.50% | |||||||||||||
Brookdale Senior Living | Maximum | ||||||||||||||
Income Statements: | ||||||||||||||
Percentage of EDITDAR payable as base management fee | 5.00% | |||||||||||||
Emeritus Corporation | ||||||||||||||
Concentration of risk | ||||||||||||||
Number of RIDEA joint ventures | item | 2 | |||||||||||||
Senior housing | ||||||||||||||
Concentration of risk | ||||||||||||||
Number of RIDEA joint ventures | item | 2 | |||||||||||||
Income Statements: | ||||||||||||||
Operating, general and administrative expense | $ (374,617) | (167,407) | (95,603) | |||||||||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | ||||||||||||||
Concentration of risk | ||||||||||||||
Number of RIDEA joint ventures | item | 15 | |||||||||||||
Investments in Joint Ventures Senior Housing Facilities Number | item | 108 | |||||||||||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | Minimum | ||||||||||||||
Income Statements: | ||||||||||||||
Management agreement term (in years) | 10 years | |||||||||||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | Maximum | ||||||||||||||
Income Statements: | ||||||||||||||
Management agreement term (in years) | 15 years | |||||||||||||
Post-acute/skilled | ||||||||||||||
Income Statements: | ||||||||||||||
Operating, general and administrative expense | $ (2,002) | $ (2,087) | $ (2,485) | |||||||||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | ||||||||||||||
Income Statements: | ||||||||||||||
Management agreement renewal term (in years) | 5 years | |||||||||||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | Minimum | ||||||||||||||
Income Statements: | ||||||||||||||
Management Agreement Number of Renewals | item | 3 | |||||||||||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | Maximum | ||||||||||||||
Income Statements: | ||||||||||||||
Management Agreement Number of Renewals | item | 4 | |||||||||||||
Assets | Tenants and Operators | Brookdale Senior Living | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 12.00% | 13.00% | ||||||||||||
Assets | Tenants and Operators | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 23.00% | 31.00% | ||||||||||||
Assets | Tenants and Operators | Senior housing | Brookdale Senior Living | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 28.00% | 36.00% | ||||||||||||
Assets | Tenants and Operators | Senior housing | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 12.00% | 11.00% | ||||||||||||
Assets | Tenants and Operators | Post-acute/skilled | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 64.00% | 82.00% | ||||||||||||
Revenue | Tenants and Operators | Brookdale Senior Living | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 10.00% | 14.00% | 17.00% | |||||||||||
Revenue | Tenants and Operators | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 23.00% | 26.00% | 28.00% | |||||||||||
Revenue | Tenants and Operators | Senior housing | Brookdale Senior Living | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 23.00% | 37.00% | 46.00% | |||||||||||
Revenue | Tenants and Operators | Senior housing | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 7.00% | 8.00% | 10.00% | |||||||||||
Revenue | Tenants and Operators | Post-acute/skilled | HCRMC | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 80.00% | 85.00% | 83.00% | |||||||||||
California | Assets | Geographic concentration risk | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 24.00% | 23.00% | ||||||||||||
California | Revenue | Geographic concentration risk | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 22.00% | 23.00% | 21.00% | |||||||||||
Texas | Assets | Geographic concentration risk | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 11.00% | 13.00% | ||||||||||||
Texas | Revenue | Geographic concentration risk | ||||||||||||||
Concentration of risk | ||||||||||||||
Concentration risk (as a percent) | 13.00% | 12.00% | 11.00% |
Derivative Financial Instrume94
Derivative Financial Instruments (Details) £ in Thousands | 12 Months Ended | |||||
Dec. 31, 2015USD ($) | Dec. 31, 2015GBP (£)item | Dec. 31, 2015USD ($)item | Sep. 29, 2015GBP (£) | Jan. 12, 2015GBP (£) | Jan. 12, 2015USD ($) | |
Derivative | ||||||
Semi-annual buy (sell) amount | £ 1,500 | $ 1,000,000 | ||||
Exchange rate GBP/USD | 1.5149 | 1.5149 | ||||
Earned additional interest income resulting from cash flow hedges | $ 100,000 | |||||
Additional interest expense resulting from cash flow hedges | 4,000,000 | |||||
Reclassification out of Accumulated Other Comprehensive Income | ||||||
Effects of Change in Interest Rates | ||||||
Reclassification of unrealized gains into other income (expense), discontinuation | 500,000 | |||||
Net Investment Hedging | ||||||
Derivative | ||||||
Notional amount | £ | £ 268,000 | |||||
Interest rate swap, entered in July 2005, maturity in July 2020 | ||||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | 1,034,000 | |||||
-50 Basis Points | (933,000) | |||||
+100 Basis Points | 2,017,000 | |||||
-100 Basis Points | (1,916,000) | |||||
Interest rate swap, entered in July 2005, maturity in July 2020 | BMA Swap Index | ||||||
Derivative | ||||||
Notional amount | $ 45,600,000 | |||||
Fair value of hedge, liabilities | $ (5,430,000) | |||||
Interest rate swap, entered in July 2005, maturity in July 2020 | Cash flow hedge | ||||||
Derivative | ||||||
Number of interest-rate swap contracts | item | 3 | 3 | ||||
Interest rate swap, entered in July 2005, maturity in July 2020 | Cash flow hedge | BMA Swap Index | ||||||
Derivative | ||||||
Fixed Rate/Buy Amount (as a percent) | 3.82% | 3.82% | ||||
Interest rate swap, entered in November 2008, maturity in October 2016 | ||||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | 102,000 | |||||
-50 Basis Points | (96,000) | |||||
+100 Basis Points | 201,000 | |||||
-100 Basis Points | (195,000) | |||||
Interest rate swap, entered in November 2008, maturity in October 2016 | LIBOR | ||||||
Derivative | ||||||
Notional amount | $ 25,100,000 | |||||
Fair value of hedge, liabilities | $ (761,000) | |||||
Interest rate swap, entered in November 2008, maturity in October 2016 | Cash flow hedge | LIBOR | ||||||
Derivative | ||||||
Fixed Rate/Buy Amount (as a percent) | 5.95% | 5.95% | ||||
Floating/Exchange Rate Index, percentage | 1.50% | 1.50% | ||||
Interest rate swap, entered in July 2012, maturity in June 2016 | ||||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | 469,000 | |||||
-50 Basis Points | (452,000) | |||||
+100 Basis Points | 937,000 | |||||
-100 Basis Points | (906,000) | |||||
Interest rate swap, entered in July 2012, maturity in June 2016 | GBP LIBOR | ||||||
Derivative | ||||||
Notional amount | £ | £ 137,000 | |||||
Fair value of hedge, liabilities | $ (60,000) | |||||
Interest rate swap, entered in July 2012, maturity in June 2016 | Cash flow hedge | ||||||
Derivative | ||||||
Buy (sell) amount | £ | £ 7,200 | |||||
Interest rate swap, entered in July 2012, maturity in June 2016 | Cash flow hedge | GBP LIBOR | ||||||
Derivative | ||||||
Fixed Rate/Buy Amount (as a percent) | 1.81% | 1.81% | ||||
Floating/Exchange Rate Index, percentage | 1.20% | 1.20% | ||||
Interest rate swap, entered in January 2015, maturity in October 2017 | ||||||
Derivative | ||||||
Notional amount | £ | £ 220,000 | |||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | 2,982,000 | |||||
-50 Basis Points | (2,916,000) | |||||
+100 Basis Points | 5,931,000 | |||||
-100 Basis Points | (5,866,000) | |||||
Interest rate swap, entered in January 2015, maturity in October 2017 | GBP LIBOR | ||||||
Derivative | ||||||
Notional amount | £ | £ 220,000 | |||||
Fair value of interest rate hedge, assets | $ 196,000 | |||||
Interest rate swap, entered in January 2015, maturity in October 2017 | Cash flow hedge | ||||||
Derivative | ||||||
Buy (sell) amount | £ | £ 1,000 | |||||
Semi-annual buy (sell) amount | $ 1.5149 | |||||
Interest rate swap, entered in January 2015, maturity in October 2017 | Cash flow hedge | GBP LIBOR | ||||||
Derivative | ||||||
Fixed Rate/Buy Amount (as a percent) | 1.79% | 1.79% | ||||
Floating/Exchange Rate Index, percentage | 0.975% | 0.975% | ||||
Currency swap, entered in July 2012, maturity in June 2016 | ||||||
Derivative | ||||||
Notional amount | £ | £ 7,200 | |||||
Fair value of foreign currency derivative instruments not designated as hedging instruments, assets | $ 685,000 | |||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | (44,000) | |||||
-50 Basis Points | 63,000 | |||||
+100 Basis Points | (97,000) | |||||
-100 Basis Points | 116,000 | |||||
Currency swap, entered in July 2012, maturity in June 2016 | Cash flow hedge | ||||||
Derivative | ||||||
Notional amount | £ | 137,000 | |||||
Semi-annual buy (sell) amount | £ 7,000 | $ 11,400,000 | ||||
Exchange rate GBP/USD | 1.5695 | 1.5695 | ||||
Currency swap, entered in July 2012, maturity in June 2016 | Buy | Cash flow hedge | ||||||
Derivative | ||||||
Semi-annual buy (sell) amount | $ 11,000,000 | |||||
Currency swap, entered in January 2015, maturity in October 2017 | ||||||
Derivative | ||||||
Notional amount | £ | £ 23,200 | |||||
Fair value of hedge, liabilities | 866,000 | |||||
Effects of Change in Interest Rates | ||||||
+50 Basis Points | (95,000) | |||||
-50 Basis Points | 246,000 | |||||
+100 Basis Points | (265,000) | |||||
-100 Basis Points | $ 417,000 | |||||
Currency swap, entered in January 2015, maturity in October 2017 | Cash flow hedge | ||||||
Derivative | ||||||
Semi-annual buy (sell) amount | $ 35,100,000 |
Selected Quarterly Financial 95
Selected Quarterly Financial Data (Unaudited) - Results of Operations for Properties Sold or to be Sole (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Selected Quarterly Financial Data (Unaudited) | |||||||||||
Total revenues | $ 668,036 | $ 657,953 | $ 607,532 | $ 610,791 | $ 603,528 | $ 596,638 | $ 536,121 | $ 529,992 | $ 2,544,312 | $ 2,266,279 | $ 2,099,878 |
(Loss) income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures | (601,744) | 134,894 | 151,184 | (251,181) | 222,771 | 240,946 | 208,926 | 220,795 | (566,847) | 893,438 | 852,015 |
Total discontinued operations | 29,746 | 29,746 | 74,373 | ||||||||
Net (loss) income | (594,617) | 117,954 | 167,748 | (237,503) | 199,630 | 251,059 | 222,279 | 263,623 | (546,418) | 936,591 | 985,006 |
Net (loss) income attributable to HCP, Inc. | $ (598,868) | $ 115,362 | $ 164,885 | $ (240,614) | $ 196,583 | $ 247,654 | $ 218,885 | $ 259,111 | $ (559,235) | $ 922,233 | $ 970,837 |
Dividends paid per common share (in dollars per share) | $ 0.565 | $ 0.565 | $ 0.565 | $ 0.565 | $ 0.545 | $ 0.545 | $ 0.545 | $ 0.545 | $ 2.26 | $ 2.18 | $ 2.10 |
Basic earnings per common share (in dollars per share) | (1.290) | 0.250 | 0.360 | (0.520) | 0.43 | 0.54 | 0.48 | 0.56 | (1.21) | 2.01 | 2.13 |
Diluted earnings per common share (in dollars per share | $ (1.290) | $ 0.250 | $ 0.360 | $ (0.520) | $ 0.43 | $ 0.54 | $ 0.48 | $ 0.56 | $ (1.21) | $ 2 | $ 2.13 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Movement in Valuation Allowances and Reserves | |||
Balance at the beginning of the year | $ 51,377 | $ 49,169 | $ 48,599 |
Additions | |||
Amounts Charged Against Operations, net | 820,097 | 5,413 | 2,633 |
Deductions | |||
Uncollectible Accounts Written-off | (17,209) | (2,512) | (2,063) |
Disposed Properties | (316) | (693) | |
Balance at the end of the year | $ 853,949 | $ 51,377 | $ 49,169 |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation - Details of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Gross Amount at Which Carried As of Year End | ||||
Total | $ 14,887,752 | $ 13,137,644 | $ 12,592,841 | $ 12,524,224 |
Accumulated Depreciation | (2,605,036) | $ (2,250,757) | $ (1,965,592) | $ (1,694,892) |
Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | 41,114 | |||
Buildings and Improvements | 280,676 | |||
Costs Capitalized Subsequent to Acquisition | 35,086 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 41,784 | |||
Buildings and Improvements | 308,665 | |||
Total | 350,449 | |||
Accumulated Depreciation | (78,782) | |||
Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 43,516 | |||
Initial Cost to Company | ||||
Land | 919,896 | |||
Buildings and Improvements | 2,306,927 | |||
Costs Capitalized Subsequent to Acquisition | 749,119 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 922,361 | |||
Buildings and Improvements | 3,023,094 | |||
Total | 3,945,455 | |||
Accumulated Depreciation | (618,902) | |||
Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 144,985 | |||
Initial Cost to Company | ||||
Land | 253,637 | |||
Buildings and Improvements | 2,433,193 | |||
Costs Capitalized Subsequent to Acquisition | 587,192 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 259,512 | |||
Buildings and Improvements | 2,913,075 | |||
Total | 3,172,587 | |||
Accumulated Depreciation | (735,839) | |||
2366 Little Rock AR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,922 | |||
Buildings and Improvements | 14,140 | |||
Costs Capitalized Subsequent to Acquisition | 1,762 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,046 | |||
Buildings and Improvements | 15,284 | |||
Total | 17,330 | |||
Accumulated Depreciation | $ (3,521) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
786 Douglas AZ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 110 | |||
Buildings and Improvements | 703 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 110 | |||
Buildings and Improvements | 703 | |||
Total | 813 | |||
Accumulated Depreciation | $ (325) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2384 Prescott AZ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,276 | |||
Buildings and Improvements | 8,660 | |||
Costs Capitalized Subsequent to Acquisition | 1,423 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,276 | |||
Buildings and Improvements | 10,083 | |||
Total | 11,359 | |||
Accumulated Depreciation | $ (1,102) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1974 Sun City AZ | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 26,445 | |||
Initial Cost to Company | ||||
Land | 2,640 | |||
Buildings and Improvements | 33,223 | |||
Costs Capitalized Subsequent to Acquisition | 2,021 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,640 | |||
Buildings and Improvements | 34,716 | |||
Total | 37,356 | |||
Accumulated Depreciation | $ (6,035) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
518 Tucson AZ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,350 | |||
Buildings and Improvements | 24,037 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,350 | |||
Buildings and Improvements | 24,037 | |||
Total | 26,387 | |||
Accumulated Depreciation | $ (9,815) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1238 Beverly Hills CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,872 | |||
Buildings and Improvements | 32,590 | |||
Costs Capitalized Subsequent to Acquisition | 4,194 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,872 | |||
Buildings and Improvements | 36,059 | |||
Total | 45,931 | |||
Accumulated Depreciation | $ (8,777) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2362 Camarillo CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,798 | |||
Buildings and Improvements | 19,427 | |||
Costs Capitalized Subsequent to Acquisition | 730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,822 | |||
Buildings and Improvements | 19,357 | |||
Total | 25,179 | |||
Accumulated Depreciation | $ (4,654) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2352 Carlsbad CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,897 | |||
Buildings and Improvements | 14,255 | |||
Costs Capitalized Subsequent to Acquisition | 1,442 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,897 | |||
Buildings and Improvements | 14,906 | |||
Total | 22,803 | |||
Accumulated Depreciation | $ (3,370) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
883 Carmichael CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,270 | |||
Buildings and Improvements | 13,846 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,270 | |||
Buildings and Improvements | 13,236 | |||
Total | 17,506 | |||
Accumulated Depreciation | $ (3,006) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2204 Chino Hills CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,720 | |||
Buildings and Improvements | 41,183 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,720 | |||
Buildings and Improvements | 41,183 | |||
Total | 44,903 | |||
Accumulated Depreciation | $ (2,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
851 Citrus Heights CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,180 | |||
Buildings and Improvements | 8,367 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,180 | |||
Buildings and Improvements | 8,037 | |||
Total | 9,217 | |||
Accumulated Depreciation | $ (2,566) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
2092 Clearlake CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 354 | |||
Buildings and Improvements | 4,799 | |||
Costs Capitalized Subsequent to Acquisition | 237 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 354 | |||
Buildings and Improvements | 5,036 | |||
Total | 5,390 | |||
Accumulated Depreciation | $ (486) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
790 Concord CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 25,000 | |||
Initial Cost to Company | ||||
Land | 6,010 | |||
Buildings and Improvements | 39,601 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,010 | |||
Buildings and Improvements | 38,301 | |||
Total | 44,311 | |||
Accumulated Depreciation | $ (9,960) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2399 Corona CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,637 | |||
Buildings and Improvements | 10,134 | |||
Costs Capitalized Subsequent to Acquisition | 184 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,637 | |||
Buildings and Improvements | 10,318 | |||
Total | 12,955 | |||
Accumulated Depreciation | $ (1,029) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
787 Dana Point CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,960 | |||
Buildings and Improvements | 15,946 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,960 | |||
Buildings and Improvements | 15,466 | |||
Total | 17,426 | |||
Accumulated Depreciation | $ (4,027) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2364 Elk Grove CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,235 | |||
Buildings and Improvements | 6,339 | |||
Costs Capitalized Subsequent to Acquisition | 763 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,235 | |||
Buildings and Improvements | 6,949 | |||
Total | 9,184 | |||
Accumulated Depreciation | $ (1,580) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
798 Escondido CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 14,340 | |||
Initial Cost to Company | ||||
Land | 5,090 | |||
Buildings and Improvements | 24,253 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,090 | |||
Buildings and Improvements | 23,353 | |||
Total | 28,443 | |||
Accumulated Depreciation | $ (6,082) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2054 Fortuna CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 818 | |||
Buildings and Improvements | 3,295 | |||
Costs Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 818 | |||
Buildings and Improvements | 3,306 | |||
Total | 4,124 | |||
Accumulated Depreciation | $ (1,096) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2079 Fortuna CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,346 | |||
Buildings and Improvements | 11,856 | |||
Costs Capitalized Subsequent to Acquisition | 44 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,346 | |||
Buildings and Improvements | 11,900 | |||
Total | 13,246 | |||
Accumulated Depreciation | $ (2,854) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
791 Fremont CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 8,402 | |||
Initial Cost to Company | ||||
Land | 2,360 | |||
Buildings and Improvements | 11,672 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,360 | |||
Buildings and Improvements | 11,192 | |||
Total | 13,552 | |||
Accumulated Depreciation | $ (2,915) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1965 Fresno CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 18,345 | |||
Initial Cost to Company | ||||
Land | 1,730 | |||
Buildings and Improvements | 31,918 | |||
Costs Capitalized Subsequent to Acquisition | 1,713 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,730 | |||
Buildings and Improvements | 33,202 | |||
Total | 34,932 | |||
Accumulated Depreciation | $ (5,645) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
788 Granada Hills CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,200 | |||
Buildings and Improvements | 18,257 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,200 | |||
Buildings and Improvements | 17,637 | |||
Total | 19,837 | |||
Accumulated Depreciation | $ (4,593) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
856 Irvine CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,220 | |||
Buildings and Improvements | 14,104 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,220 | |||
Buildings and Improvements | 13,564 | |||
Total | 21,784 | |||
Accumulated Depreciation | $ (2,838) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
227 Lodi CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 8,532 | |||
Initial Cost to Company | ||||
Land | 732 | |||
Buildings and Improvements | 5,453 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 732 | |||
Buildings and Improvements | 5,453 | |||
Total | 6,185 | |||
Accumulated Depreciation | $ (2,696) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
226 Murietta CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 5,732 | |||
Initial Cost to Company | ||||
Land | 435 | |||
Buildings and Improvements | 5,729 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 435 | |||
Buildings and Improvements | 5,729 | |||
Total | 6,164 | |||
Accumulated Depreciation | $ (2,765) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1165 Northridge CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,718 | |||
Buildings and Improvements | 26,309 | |||
Costs Capitalized Subsequent to Acquisition | 2,117 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,752 | |||
Buildings and Improvements | 27,583 | |||
Total | 34,335 | |||
Accumulated Depreciation | $ (6,259) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1561 Orangevale CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,160 | |||
Buildings and Improvements | 8,522 | |||
Costs Capitalized Subsequent to Acquisition | 1,144 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,160 | |||
Buildings and Improvements | 9,146 | |||
Total | 11,306 | |||
Accumulated Depreciation | $ (2,358) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1168 Palm Springs CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,005 | |||
Buildings and Improvements | 5,183 | |||
Costs Capitalized Subsequent to Acquisition | 496 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,005 | |||
Buildings and Improvements | 5,315 | |||
Total | 6,320 | |||
Accumulated Depreciation | $ (1,308) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
789 Pleasant Hill CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 6,270 | |||
Initial Cost to Company | ||||
Land | 2,480 | |||
Buildings and Improvements | 21,333 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,480 | |||
Buildings and Improvements | 20,633 | |||
Total | 23,113 | |||
Accumulated Depreciation | $ (5,373) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2369 Rancho Mirage CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,798 | |||
Buildings and Improvements | 24,053 | |||
Costs Capitalized Subsequent to Acquisition | 667 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,811 | |||
Buildings and Improvements | 23,792 | |||
Total | 25,603 | |||
Accumulated Depreciation | $ (5,586) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2128 Red Bluff CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 279 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 279 | |||
Total | 279 | |||
Accumulated Depreciation | $ (7) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2205 Roseville CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,844 | |||
Buildings and Improvements | 33,527 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,844 | |||
Buildings and Improvements | 33,527 | |||
Total | 37,371 | |||
Accumulated Depreciation | $ (1,740) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2380 Roseville CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 692 | |||
Buildings and Improvements | 21,662 | |||
Costs Capitalized Subsequent to Acquisition | 102 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 692 | |||
Buildings and Improvements | 21,764 | |||
Total | 22,456 | |||
Accumulated Depreciation | $ (1,791) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2353 San Diego CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,384 | |||
Buildings and Improvements | 32,072 | |||
Costs Capitalized Subsequent to Acquisition | 1,348 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,384 | |||
Buildings and Improvements | 32,317 | |||
Total | 38,701 | |||
Accumulated Depreciation | $ (7,402) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1007 San Dimas CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,628 | |||
Buildings and Improvements | 31,374 | |||
Costs Capitalized Subsequent to Acquisition | 1,398 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,630 | |||
Buildings and Improvements | 31,977 | |||
Total | 37,607 | |||
Accumulated Depreciation | $ (7,268) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2354 San Juan Capistrano CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,983 | |||
Buildings and Improvements | 9,614 | |||
Costs Capitalized Subsequent to Acquisition | 1,380 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,983 | |||
Buildings and Improvements | 10,708 | |||
Total | 16,691 | |||
Accumulated Depreciation | $ (2,377) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1167 Santa Rosa CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,582 | |||
Buildings and Improvements | 21,113 | |||
Costs Capitalized Subsequent to Acquisition | 1,209 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,627 | |||
Buildings and Improvements | 21,508 | |||
Total | 25,135 | |||
Accumulated Depreciation | $ (5,107) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
793 South San Francisco CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 9,692 | |||
Initial Cost to Company | ||||
Land | 3,000 | |||
Buildings and Improvements | 16,586 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,000 | |||
Buildings and Improvements | 16,056 | |||
Total | 19,056 | |||
Accumulated Depreciation | $ (4,175) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1966 Sun City CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 13,888 | |||
Initial Cost to Company | ||||
Land | 2,650 | |||
Buildings and Improvements | 22,709 | |||
Costs Capitalized Subsequent to Acquisition | 3,350 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,650 | |||
Buildings and Improvements | 25,605 | |||
Total | 28,255 | |||
Accumulated Depreciation | $ (4,648) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
792 Ventura CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 9,157 | |||
Initial Cost to Company | ||||
Land | 2,030 | |||
Buildings and Improvements | 17,379 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,030 | |||
Buildings and Improvements | 16,749 | |||
Total | 18,779 | |||
Accumulated Depreciation | $ (4,362) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1155 Yorba Linda CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,968 | |||
Buildings and Improvements | 19,290 | |||
Costs Capitalized Subsequent to Acquisition | 1,603 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,030 | |||
Buildings and Improvements | 20,035 | |||
Total | 25,065 | |||
Accumulated Depreciation | $ (4,495) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2055 Yreka CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 565 | |||
Buildings and Improvements | 9,184 | |||
Costs Capitalized Subsequent to Acquisition | 137 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 565 | |||
Buildings and Improvements | 9,321 | |||
Total | 9,886 | |||
Accumulated Depreciation | $ (947) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2505 Arvada CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,012 | |||
Buildings and Improvements | 29,264 | |||
Costs Capitalized Subsequent to Acquisition | 140 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,012 | |||
Buildings and Improvements | 29,404 | |||
Total | 31,416 | |||
Accumulated Depreciation | $ (527) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2506 Boulder CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,447 | |||
Buildings and Improvements | 35,471 | |||
Costs Capitalized Subsequent to Acquisition | 36 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,447 | |||
Buildings and Improvements | 35,507 | |||
Total | 37,954 | |||
Accumulated Depreciation | $ (606) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2373 Colorado Springs CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,910 | |||
Buildings and Improvements | 24,479 | |||
Costs Capitalized Subsequent to Acquisition | 1,290 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,910 | |||
Buildings and Improvements | 24,806 | |||
Total | 26,716 | |||
Accumulated Depreciation | $ (5,707) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2146 Denver CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 875 | |||
Buildings and Improvements | 5,693 | |||
Costs Capitalized Subsequent to Acquisition | 168 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 875 | |||
Buildings and Improvements | 5,861 | |||
Total | 6,736 | |||
Accumulated Depreciation | $ (647) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2515 Denver CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,310 | |||
Buildings and Improvements | 18,416 | |||
Costs Capitalized Subsequent to Acquisition | 580 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,310 | |||
Buildings and Improvements | 18,996 | |||
Total | 21,306 | |||
Accumulated Depreciation | $ (386) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
512 Denver CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,810 | |||
Buildings and Improvements | 36,021 | |||
Costs Capitalized Subsequent to Acquisition | 1,885 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,810 | |||
Buildings and Improvements | 37,906 | |||
Total | 40,716 | |||
Accumulated Depreciation | $ (15,146) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1233 Denver CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,511 | |||
Buildings and Improvements | 30,641 | |||
Costs Capitalized Subsequent to Acquisition | 1,730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,528 | |||
Buildings and Improvements | 31,552 | |||
Total | 34,080 | |||
Accumulated Depreciation | $ (7,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2507 Englewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,068 | |||
Buildings and Improvements | 102,330 | |||
Costs Capitalized Subsequent to Acquisition | 992 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,068 | |||
Buildings and Improvements | 103,322 | |||
Total | 110,390 | |||
Accumulated Depreciation | $ (1,748) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1000 Greenwood Village CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,367 | |||
Buildings and Improvements | 43,610 | |||
Costs Capitalized Subsequent to Acquisition | 2,894 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,367 | |||
Buildings and Improvements | 45,708 | |||
Total | 49,075 | |||
Accumulated Depreciation | $ (9,528) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2508 Lakewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,163 | |||
Buildings and Improvements | 60,601 | |||
Costs Capitalized Subsequent to Acquisition | 649 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,163 | |||
Buildings and Improvements | 61,249 | |||
Total | 65,412 | |||
Accumulated Depreciation | $ (1,050) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2509 Lakewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,562 | |||
Buildings and Improvements | 37,215 | |||
Costs Capitalized Subsequent to Acquisition | 70 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,562 | |||
Buildings and Improvements | 37,285 | |||
Total | 39,847 | |||
Accumulated Depreciation | $ (666) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1234 Lakewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,012 | |||
Buildings and Improvements | 31,913 | |||
Costs Capitalized Subsequent to Acquisition | 1,550 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,012 | |||
Buildings and Improvements | 32,665 | |||
Total | 35,677 | |||
Accumulated Depreciation | $ (7,437) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2091 Montrose CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,078 | |||
Buildings and Improvements | 24,224 | |||
Costs Capitalized Subsequent to Acquisition | 946 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,078 | |||
Buildings and Improvements | 25,170 | |||
Total | 26,248 | |||
Accumulated Depreciation | $ (2,088) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2085 Glastonbury CT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,743 | |||
Buildings and Improvements | 9,766 | |||
Costs Capitalized Subsequent to Acquisition | 86 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,743 | |||
Buildings and Improvements | 9,852 | |||
Total | 13,595 | |||
Accumulated Depreciation | $ (1,042) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2144 Glastonbury CT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,658 | |||
Buildings and Improvements | 16,046 | |||
Costs Capitalized Subsequent to Acquisition | 103 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,658 | |||
Buildings and Improvements | 16,149 | |||
Total | 17,807 | |||
Accumulated Depreciation | $ (1,537) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
730 Torrington CT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 166 | |||
Buildings and Improvements | 11,001 | |||
Costs Capitalized Subsequent to Acquisition | 888 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 166 | |||
Buildings and Improvements | 11,479 | |||
Total | 11,645 | |||
Accumulated Depreciation | $ (2,863) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2355 Woodbridge CT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,352 | |||
Buildings and Improvements | 9,929 | |||
Costs Capitalized Subsequent to Acquisition | 1,343 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,363 | |||
Buildings and Improvements | 10,799 | |||
Total | 13,162 | |||
Accumulated Depreciation | $ (2,439) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2519 Altamonte Springs FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,480 | |||
Buildings and Improvements | 18,883 | |||
Costs Capitalized Subsequent to Acquisition | 158 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,480 | |||
Buildings and Improvements | 18,221 | |||
Total | 20,701 | |||
Accumulated Depreciation | $ (2,545) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2521 Altamonte Springs FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 110 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 110 | |||
Total | 110 | |||
Accumulated Depreciation | $ (3) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
861 Apopka FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 920 | |||
Buildings and Improvements | 4,816 | |||
Costs Capitalized Subsequent to Acquisition | 418 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 920 | |||
Buildings and Improvements | 5,134 | |||
Total | 6,054 | |||
Accumulated Depreciation | $ (1,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
852 Boca Raton FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,730 | |||
Buildings and Improvements | 17,532 | |||
Costs Capitalized Subsequent to Acquisition | 5,471 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,730 | |||
Buildings and Improvements | 22,592 | |||
Total | 27,322 | |||
Accumulated Depreciation | $ (6,149) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1001 Boca Raton FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 11,066 | |||
Initial Cost to Company | ||||
Land | 2,415 | |||
Buildings and Improvements | 17,923 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,415 | |||
Buildings and Improvements | 17,561 | |||
Total | 19,976 | |||
Accumulated Depreciation | $ (3,817) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1963 Boynton Beach FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 27,256 | |||
Initial Cost to Company | ||||
Land | 2,550 | |||
Buildings and Improvements | 31,521 | |||
Costs Capitalized Subsequent to Acquisition | 3,279 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,550 | |||
Buildings and Improvements | 34,240 | |||
Total | 36,790 | |||
Accumulated Depreciation | $ (5,967) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1964 Boynton Beach FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 3,816 | |||
Initial Cost to Company | ||||
Land | 570 | |||
Buildings and Improvements | 5,649 | |||
Costs Capitalized Subsequent to Acquisition | 1,763 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 570 | |||
Buildings and Improvements | 7,219 | |||
Total | 7,789 | |||
Accumulated Depreciation | $ (1,550) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
544 Boynton Beach FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,633 | |||
Initial Cost to Company | ||||
Land | 1,270 | |||
Buildings and Improvements | 4,773 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,270 | |||
Buildings and Improvements | 4,773 | |||
Total | 6,043 | |||
Accumulated Depreciation | $ (1,531) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2520 Clearwater FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,250 | |||
Buildings and Improvements | 2,627 | |||
Costs Capitalized Subsequent to Acquisition | 49 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,250 | |||
Buildings and Improvements | 2,676 | |||
Total | 4,926 | |||
Accumulated Depreciation | $ (855) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
746 Clearwater FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,856 | |||
Buildings and Improvements | 12,176 | |||
Costs Capitalized Subsequent to Acquisition | 805 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,856 | |||
Buildings and Improvements | 10,850 | |||
Total | 14,706 | |||
Accumulated Depreciation | $ (3,011) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
862 Clermont FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 440 | |||
Buildings and Improvements | 6,518 | |||
Costs Capitalized Subsequent to Acquisition | 133 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 440 | |||
Buildings and Improvements | 6,551 | |||
Total | 6,991 | |||
Accumulated Depreciation | $ (1,705) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1002 Coconut Creek FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 13,233 | |||
Initial Cost to Company | ||||
Land | 2,461 | |||
Buildings and Improvements | 16,006 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,461 | |||
Buildings and Improvements | 15,620 | |||
Total | 18,081 | |||
Accumulated Depreciation | $ (3,395) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
492 Delray Beach FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 10,866 | |||
Initial Cost to Company | ||||
Land | 850 | |||
Buildings and Improvements | 6,637 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 850 | |||
Buildings and Improvements | 6,637 | |||
Total | 7,487 | |||
Accumulated Depreciation | $ (1,913) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
2517 Ft Lauderdale FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,800 | |||
Buildings and Improvements | 43,482 | |||
Costs Capitalized Subsequent to Acquisition | 114 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,800 | |||
Buildings and Improvements | 43,597 | |||
Total | 46,397 | |||
Accumulated Depreciation | $ (835) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2351 Gainesville FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,020 | |||
Buildings and Improvements | 13,490 | |||
Costs Capitalized Subsequent to Acquisition | 184 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,020 | |||
Buildings and Improvements | 13,274 | |||
Total | 14,294 | |||
Accumulated Depreciation | $ (3,143) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
1095 Gainesville FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,221 | |||
Buildings and Improvements | 12,226 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,221 | |||
Buildings and Improvements | 12,001 | |||
Total | 13,222 | |||
Accumulated Depreciation | $ (2,775) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2437 Jacksonville FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,450 | |||
Buildings and Improvements | 13,683 | |||
Costs Capitalized Subsequent to Acquisition | 201 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,450 | |||
Buildings and Improvements | 13,883 | |||
Total | 16,333 | |||
Accumulated Depreciation | $ (265) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
490 Jacksonville FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 42,014 | |||
Initial Cost to Company | ||||
Land | 3,250 | |||
Buildings and Improvements | 25,936 | |||
Costs Capitalized Subsequent to Acquisition | 6,170 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,250 | |||
Buildings and Improvements | 32,106 | |||
Total | 35,356 | |||
Accumulated Depreciation | $ (10,755) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1096 Jacksonville FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,587 | |||
Buildings and Improvements | 15,616 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,587 | |||
Buildings and Improvements | 15,298 | |||
Total | 16,885 | |||
Accumulated Depreciation | $ (3,538) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2518 Lake Worth FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,680 | |||
Buildings and Improvements | 13,224 | |||
Costs Capitalized Subsequent to Acquisition | 452 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,680 | |||
Buildings and Improvements | 13,675 | |||
Total | 15,355 | |||
Accumulated Depreciation | $ (308) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
855 Lantana FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,520 | |||
Buildings and Improvements | 26,452 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,520 | |||
Buildings and Improvements | 25,652 | |||
Total | 29,172 | |||
Accumulated Depreciation | $ (8,052) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1968 Largo FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 47,807 | |||
Initial Cost to Company | ||||
Land | 2,920 | |||
Buildings and Improvements | 64,988 | |||
Costs Capitalized Subsequent to Acquisition | 7,580 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,920 | |||
Buildings and Improvements | 71,440 | |||
Total | 74,360 | |||
Accumulated Depreciation | $ (13,123) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2522 Lutz FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 860 | |||
Buildings and Improvements | 14,511 | |||
Costs Capitalized Subsequent to Acquisition | 390 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 860 | |||
Buildings and Improvements | 14,900 | |||
Total | 15,760 | |||
Accumulated Depreciation | $ (284) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
731 Ocoee FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,096 | |||
Buildings and Improvements | 9,322 | |||
Costs Capitalized Subsequent to Acquisition | 571 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,096 | |||
Buildings and Improvements | 9,372 | |||
Total | 11,468 | |||
Accumulated Depreciation | $ (2,371) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2523 Orange City FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 830 | |||
Buildings and Improvements | 9,359 | |||
Costs Capitalized Subsequent to Acquisition | 222 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 830 | |||
Buildings and Improvements | 9,581 | |||
Total | 10,411 | |||
Accumulated Depreciation | $ (198) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
859 Oviedo FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 670 | |||
Buildings and Improvements | 8,071 | |||
Costs Capitalized Subsequent to Acquisition | 260 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 670 | |||
Buildings and Improvements | 8,231 | |||
Total | 8,901 | |||
Accumulated Depreciation | $ (2,113) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1970 Palm Beach Gardens FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 26,325 | |||
Initial Cost to Company | ||||
Land | 4,820 | |||
Buildings and Improvements | 24,937 | |||
Costs Capitalized Subsequent to Acquisition | 17,010 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,820 | |||
Buildings and Improvements | 41,152 | |||
Total | 45,972 | |||
Accumulated Depreciation | $ (6,432) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1017 Palm Harbor FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,462 | |||
Buildings and Improvements | 16,774 | |||
Costs Capitalized Subsequent to Acquisition | 500 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,462 | |||
Buildings and Improvements | 16,888 | |||
Total | 18,350 | |||
Accumulated Depreciation | $ (3,973) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
732 Port Orange FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,340 | |||
Buildings and Improvements | 9,898 | |||
Costs Capitalized Subsequent to Acquisition | 333 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,340 | |||
Buildings and Improvements | 9,710 | |||
Total | 12,050 | |||
Accumulated Depreciation | $ (2,521) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2524 Port St Lucie FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 860 | |||
Buildings and Improvements | 10,087 | |||
Costs Capitalized Subsequent to Acquisition | 304 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 860 | |||
Buildings and Improvements | 10,392 | |||
Total | 11,252 | |||
Accumulated Depreciation | $ (215) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1971 Sarasota FL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 22,041 | |||
Initial Cost to Company | ||||
Land | 3,050 | |||
Buildings and Improvements | 29,516 | |||
Costs Capitalized Subsequent to Acquisition | 4,249 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,050 | |||
Buildings and Improvements | 33,345 | |||
Total | 36,395 | |||
Accumulated Depreciation | $ (5,901) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2525 Sarasota FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,470 | |||
Buildings and Improvements | 15,639 | |||
Costs Capitalized Subsequent to Acquisition | 96 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,470 | |||
Buildings and Improvements | 15,735 | |||
Total | 17,205 | |||
Accumulated Depreciation | $ (329) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2194 Springtree FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,066 | |||
Buildings and Improvements | 15,874 | |||
Costs Capitalized Subsequent to Acquisition | 215 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,066 | |||
Buildings and Improvements | 16,089 | |||
Total | 17,155 | |||
Accumulated Depreciation | $ (1,570) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
802 St Augustine FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 830 | |||
Buildings and Improvements | 11,627 | |||
Costs Capitalized Subsequent to Acquisition | 290 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 830 | |||
Buildings and Improvements | 11,517 | |||
Total | 12,347 | |||
Accumulated Depreciation | $ (3,326) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1097 Tallahassee FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,331 | |||
Buildings and Improvements | 19,039 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,331 | |||
Buildings and Improvements | 18,695 | |||
Total | 20,026 | |||
Accumulated Depreciation | $ (4,323) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2526 Tamarac FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 950 | |||
Buildings and Improvements | 15,651 | |||
Costs Capitalized Subsequent to Acquisition | 42 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 950 | |||
Buildings and Improvements | 15,693 | |||
Total | 16,643 | |||
Accumulated Depreciation | $ (297) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
224 Tampa FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 600 | |||
Buildings and Improvements | 5,566 | |||
Costs Capitalized Subsequent to Acquisition | 1,147 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 696 | |||
Buildings and Improvements | 6,595 | |||
Total | 7,291 | |||
Accumulated Depreciation | $ (2,592) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
849 Tampa FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 800 | |||
Buildings and Improvements | 11,340 | |||
Costs Capitalized Subsequent to Acquisition | 773 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 800 | |||
Buildings and Improvements | 11,713 | |||
Total | 12,513 | |||
Accumulated Depreciation | $ (2,661) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2513 Venice FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,120 | |||
Buildings and Improvements | 20,366 | |||
Costs Capitalized Subsequent to Acquisition | 378 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,120 | |||
Buildings and Improvements | 20,744 | |||
Total | 21,864 | |||
Accumulated Depreciation | $ (383) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1605 Vero Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 700 | |||
Buildings and Improvements | 16,234 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 700 | |||
Buildings and Improvements | 16,234 | |||
Total | 16,934 | |||
Accumulated Depreciation | $ (2,962) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2527 Vero Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,040 | |||
Buildings and Improvements | 17,186 | |||
Costs Capitalized Subsequent to Acquisition | 359 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,040 | |||
Buildings and Improvements | 17,545 | |||
Total | 18,585 | |||
Accumulated Depreciation | $ (337) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1257 Vero Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,035 | |||
Buildings and Improvements | 34,993 | |||
Costs Capitalized Subsequent to Acquisition | 201 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,035 | |||
Buildings and Improvements | 33,634 | |||
Total | 35,669 | |||
Accumulated Depreciation | $ (7,775) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1976 West Palm Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 390 | |||
Buildings and Improvements | 2,241 | |||
Costs Capitalized Subsequent to Acquisition | 294 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 390 | |||
Buildings and Improvements | 2,451 | |||
Total | 2,841 | |||
Accumulated Depreciation | $ (470) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1098 Alpharetta GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 793 | |||
Buildings and Improvements | 8,761 | |||
Costs Capitalized Subsequent to Acquisition | 1,181 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 793 | |||
Buildings and Improvements | 9,656 | |||
Total | 10,449 | |||
Accumulated Depreciation | $ (2,212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2370 Atlanta GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,665 | |||
Buildings and Improvements | 5,911 | |||
Costs Capitalized Subsequent to Acquisition | 854 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,669 | |||
Buildings and Improvements | 6,491 | |||
Total | 9,160 | |||
Accumulated Depreciation | $ (1,570) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1099 Atlanta GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 687 | |||
Buildings and Improvements | 5,507 | |||
Costs Capitalized Subsequent to Acquisition | 1,281 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 687 | |||
Buildings and Improvements | 6,387 | |||
Total | 7,074 | |||
Accumulated Depreciation | $ (1,476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2108 Buford GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 562 | |||
Buildings and Improvements | 3,604 | |||
Costs Capitalized Subsequent to Acquisition | 190 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 562 | |||
Buildings and Improvements | 3,794 | |||
Total | 4,356 | |||
Accumulated Depreciation | $ (405) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2109 Buford GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 536 | |||
Buildings and Improvements | 3,142 | |||
Costs Capitalized Subsequent to Acquisition | 141 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 536 | |||
Buildings and Improvements | 3,283 | |||
Total | 3,819 | |||
Accumulated Depreciation | $ (345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2388 Buford GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,987 | |||
Buildings and Improvements | 6,561 | |||
Costs Capitalized Subsequent to Acquisition | 231 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,987 | |||
Buildings and Improvements | 6,792 | |||
Total | 8,779 | |||
Accumulated Depreciation | $ (741) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2053 Canton GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 401 | |||
Buildings and Improvements | 17,888 | |||
Costs Capitalized Subsequent to Acquisition | 69 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 401 | |||
Buildings and Improvements | 17,957 | |||
Total | 18,358 | |||
Accumulated Depreciation | $ (1,383) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2165 Hartwell GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 368 | |||
Buildings and Improvements | 6,337 | |||
Costs Capitalized Subsequent to Acquisition | 227 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 368 | |||
Buildings and Improvements | 6,564 | |||
Total | 6,932 | |||
Accumulated Depreciation | $ (569) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2066 Lawrenceville GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 581 | |||
Buildings and Improvements | 2,669 | |||
Costs Capitalized Subsequent to Acquisition | 78 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 581 | |||
Buildings and Improvements | 2,747 | |||
Total | 3,328 | |||
Accumulated Depreciation | $ (356) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1241 Lilburn GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 907 | |||
Buildings and Improvements | 17,340 | |||
Costs Capitalized Subsequent to Acquisition | 132 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 907 | |||
Buildings and Improvements | 16,916 | |||
Total | 17,823 | |||
Accumulated Depreciation | $ (3,925) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2167 Lithia Springs GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,031 | |||
Buildings and Improvements | 6,954 | |||
Costs Capitalized Subsequent to Acquisition | 79 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,031 | |||
Buildings and Improvements | 7,033 | |||
Total | 8,064 | |||
Accumulated Depreciation | $ (767) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2105 Macon GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 814 | |||
Buildings and Improvements | 10,890 | |||
Costs Capitalized Subsequent to Acquisition | 49 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 814 | |||
Buildings and Improvements | 10,939 | |||
Total | 11,753 | |||
Accumulated Depreciation | $ (881) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2395 Marietta GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 987 | |||
Buildings and Improvements | 4,818 | |||
Costs Capitalized Subsequent to Acquisition | 119 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 987 | |||
Buildings and Improvements | 4,937 | |||
Total | 5,924 | |||
Accumulated Depreciation | $ (542) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1112 Marietta GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 894 | |||
Buildings and Improvements | 6,944 | |||
Costs Capitalized Subsequent to Acquisition | 725 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 904 | |||
Buildings and Improvements | 7,392 | |||
Total | 8,296 | |||
Accumulated Depreciation | $ (1,798) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2086 Newnan GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,227 | |||
Buildings and Improvements | 4,202 | |||
Costs Capitalized Subsequent to Acquisition | 56 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,227 | |||
Buildings and Improvements | 4,258 | |||
Total | 5,485 | |||
Accumulated Depreciation | $ (514) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2118 Woodstock GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 764 | |||
Buildings and Improvements | 7,334 | |||
Costs Capitalized Subsequent to Acquisition | 73 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 764 | |||
Buildings and Improvements | 7,407 | |||
Total | 8,171 | |||
Accumulated Depreciation | $ (683) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2157 Woodstock GA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,926 | |||
Buildings and Improvements | 12,757 | |||
Costs Capitalized Subsequent to Acquisition | 81 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,926 | |||
Buildings and Improvements | 12,838 | |||
Total | 14,764 | |||
Accumulated Depreciation | $ (1,185) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1088 Davenport IA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 511 | |||
Buildings and Improvements | 8,039 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 511 | |||
Buildings and Improvements | 7,868 | |||
Total | 8,379 | |||
Accumulated Depreciation | $ (1,819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1093 Marion IA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 502 | |||
Buildings and Improvements | 6,865 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 502 | |||
Buildings and Improvements | 6,713 | |||
Total | 7,215 | |||
Accumulated Depreciation | $ (1,552) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2397 Sioux City IA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 197 | |||
Buildings and Improvements | 8,078 | |||
Costs Capitalized Subsequent to Acquisition | 484 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 197 | |||
Buildings and Improvements | 8,562 | |||
Total | 8,759 | |||
Accumulated Depreciation | $ (827) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1091 Bloomington IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 798 | |||
Buildings and Improvements | 13,091 | |||
Costs Capitalized Subsequent to Acquisition | 127 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 798 | |||
Buildings and Improvements | 12,959 | |||
Total | 13,757 | |||
Accumulated Depreciation | $ (2,967) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2375 Burr Ridge IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,640 | |||
Buildings and Improvements | 23,901 | |||
Costs Capitalized Subsequent to Acquisition | 1,691 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,704 | |||
Buildings and Improvements | 24,538 | |||
Total | 27,242 | |||
Accumulated Depreciation | $ (5,451) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1089 Champaign IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 101 | |||
Buildings and Improvements | 4,207 | |||
Costs Capitalized Subsequent to Acquisition | 1,592 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 279 | |||
Buildings and Improvements | 5,463 | |||
Total | 5,742 | |||
Accumulated Depreciation | $ (1,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2200 Deer Park IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,172 | |||
Buildings and Improvements | 2,417 | |||
Costs Capitalized Subsequent to Acquisition | 34,630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,172 | |||
Buildings and Improvements | 37,047 | |||
Total | 41,219 | |||
1090 Macomb IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | 81 | |||
Buildings and Improvements | 6,062 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 81 | |||
Buildings and Improvements | 5,905 | |||
Total | 5,986 | |||
Accumulated Depreciation | $ (1,366) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1143 Mt Vernon IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 296 | |||
Buildings and Improvements | 15,935 | |||
Costs Capitalized Subsequent to Acquisition | 3,562 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 512 | |||
Buildings and Improvements | 18,949 | |||
Total | 19,461 | |||
Accumulated Depreciation | $ (4,102) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1969 Niles IL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 25,231 | |||
Initial Cost to Company | ||||
Land | 3,790 | |||
Buildings and Improvements | 32,912 | |||
Costs Capitalized Subsequent to Acquisition | 4,889 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,790 | |||
Buildings and Improvements | 37,076 | |||
Total | 40,866 | |||
Accumulated Depreciation | $ (6,903) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1005 Oak Park IL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 24,975 | |||
Initial Cost to Company | ||||
Land | 3,476 | |||
Buildings and Improvements | 35,259 | |||
Costs Capitalized Subsequent to Acquisition | 1,862 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,476 | |||
Buildings and Improvements | 36,575 | |||
Total | 40,051 | |||
Accumulated Depreciation | $ (7,653) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1961 Olympia Fields IL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 28,513 | |||
Initial Cost to Company | ||||
Land | 4,120 | |||
Buildings and Improvements | 29,400 | |||
Costs Capitalized Subsequent to Acquisition | 2,886 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,120 | |||
Buildings and Improvements | 31,763 | |||
Total | 35,883 | |||
Accumulated Depreciation | $ (5,478) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1162 Orland Park IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,623 | |||
Buildings and Improvements | 23,154 | |||
Costs Capitalized Subsequent to Acquisition | 534 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,623 | |||
Buildings and Improvements | 23,058 | |||
Total | 25,681 | |||
Accumulated Depreciation | $ (5,351) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1092 Peoria IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 404 | |||
Buildings and Improvements | 10,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 404 | |||
Buildings and Improvements | 9,840 | |||
Total | 10,244 | |||
Accumulated Depreciation | $ (2,276) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2376 Prospect Heights IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,680 | |||
Buildings and Improvements | 20,299 | |||
Costs Capitalized Subsequent to Acquisition | 1,870 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,725 | |||
Buildings and Improvements | 21,119 | |||
Total | 23,844 | |||
Accumulated Depreciation | $ (4,642) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2367 Schaumburg IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,701 | |||
Buildings and Improvements | 12,037 | |||
Costs Capitalized Subsequent to Acquisition | 1,322 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,704 | |||
Buildings and Improvements | 12,772 | |||
Total | 14,476 | |||
Accumulated Depreciation | $ (2,809) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1952 Vernon Hills IL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 41,844 | |||
Initial Cost to Company | ||||
Land | 4,900 | |||
Buildings and Improvements | 45,854 | |||
Costs Capitalized Subsequent to Acquisition | 4,977 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,900 | |||
Buildings and Improvements | 50,144 | |||
Total | 55,044 | |||
Accumulated Depreciation | $ (8,378) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1237 Wilmette IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,100 | |||
Buildings and Improvements | 9,373 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,100 | |||
Buildings and Improvements | 9,149 | |||
Total | 10,249 | |||
Accumulated Depreciation | $ (2,116) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
379 Evansville IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 500 | |||
Buildings and Improvements | 9,302 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 500 | |||
Buildings and Improvements | 7,762 | |||
Total | 8,262 | |||
Accumulated Depreciation | $ (2,821) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1144 Indianapolis IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,197 | |||
Buildings and Improvements | 7,718 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,197 | |||
Buildings and Improvements | 7,486 | |||
Total | 8,683 | |||
Accumulated Depreciation | $ (1,731) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
457 Jasper IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 165 | |||
Buildings and Improvements | 5,952 | |||
Costs Capitalized Subsequent to Acquisition | 359 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 165 | |||
Buildings and Improvements | 6,311 | |||
Total | 6,476 | |||
Accumulated Depreciation | $ (2,627) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2047 Kokomo IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 296 | |||
Buildings and Improvements | 3,245 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 296 | |||
Buildings and Improvements | 3,057 | |||
Total | 3,353 | |||
Accumulated Depreciation | $ (428) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1146 West Lafayette IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 813 | |||
Buildings and Improvements | 10,876 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 813 | |||
Buildings and Improvements | 10,626 | |||
Total | 11,439 | |||
Accumulated Depreciation | $ (2,457) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2371 Edgewood KY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,868 | |||
Buildings and Improvements | 4,934 | |||
Costs Capitalized Subsequent to Acquisition | 1,895 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,915 | |||
Buildings and Improvements | 6,352 | |||
Total | 8,267 | |||
Accumulated Depreciation | $ (1,270) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
697 Lexington KY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,093 | |||
Buildings and Improvements | 16,917 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,093 | |||
Buildings and Improvements | 16,299 | |||
Total | 18,392 | |||
Accumulated Depreciation | $ (6,245) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1105 Louisville KY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,499 | |||
Buildings and Improvements | 26,252 | |||
Costs Capitalized Subsequent to Acquisition | 240 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,513 | |||
Buildings and Improvements | 25,868 | |||
Total | 27,381 | |||
Accumulated Depreciation | $ (6,095) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2115 Murray KY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 288 | |||
Buildings and Improvements | 7,400 | |||
Costs Capitalized Subsequent to Acquisition | 98 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 288 | |||
Buildings and Improvements | 7,498 | |||
Total | 7,786 | |||
Accumulated Depreciation | $ (763) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2135 Paducah KY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 621 | |||
Buildings and Improvements | 16,768 | |||
Costs Capitalized Subsequent to Acquisition | 71 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 621 | |||
Buildings and Improvements | 16,839 | |||
Total | 17,460 | |||
Accumulated Depreciation | $ (1,297) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2358 Danvers MA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,616 | |||
Buildings and Improvements | 30,692 | |||
Costs Capitalized Subsequent to Acquisition | 1,120 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,621 | |||
Buildings and Improvements | 31,221 | |||
Total | 35,842 | |||
Accumulated Depreciation | $ (7,209) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2363 Dartmouth MA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,145 | |||
Buildings and Improvements | 6,880 | |||
Costs Capitalized Subsequent to Acquisition | 691 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,176 | |||
Buildings and Improvements | 7,292 | |||
Total | 10,468 | |||
Accumulated Depreciation | $ (1,789) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2357 Dedham MA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,930 | |||
Buildings and Improvements | 21,340 | |||
Costs Capitalized Subsequent to Acquisition | 1,212 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,930 | |||
Buildings and Improvements | 21,977 | |||
Total | 25,907 | |||
Accumulated Depreciation | $ (5,034) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1158 Plymouth MA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,434 | |||
Buildings and Improvements | 9,027 | |||
Costs Capitalized Subsequent to Acquisition | 489 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,438 | |||
Buildings and Improvements | 9,035 | |||
Total | 11,473 | |||
Accumulated Depreciation | $ (2,219) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2365 Baltimore MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,684 | |||
Buildings and Improvements | 18,889 | |||
Costs Capitalized Subsequent to Acquisition | 532 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,696 | |||
Buildings and Improvements | 18,986 | |||
Total | 20,682 | |||
Accumulated Depreciation | $ (4,475) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1249 Frederick MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 609 | |||
Buildings and Improvements | 9,158 | |||
Costs Capitalized Subsequent to Acquisition | 401 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 609 | |||
Buildings and Improvements | 9,314 | |||
Total | 9,923 | |||
Accumulated Depreciation | $ (2,269) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2541 Olney MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,580 | |||
Buildings and Improvements | 34,363 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,580 | |||
Buildings and Improvements | 34,363 | |||
Total | 35,943 | |||
Accumulated Depreciation | $ (161) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2356 Pikesville MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,416 | |||
Buildings and Improvements | 8,854 | |||
Costs Capitalized Subsequent to Acquisition | 612 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,416 | |||
Buildings and Improvements | 9,005 | |||
Total | 10,421 | |||
Accumulated Depreciation | $ (2,192) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
281 Westminster MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 768 | |||
Buildings and Improvements | 5,251 | |||
Costs Capitalized Subsequent to Acquisition | 229 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 768 | |||
Buildings and Improvements | 5,535 | |||
Total | 6,303 | |||
Accumulated Depreciation | $ (1,937) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
546 Cape Elizabeth ME | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 630 | |||
Buildings and Improvements | 3,524 | |||
Costs Capitalized Subsequent to Acquisition | 93 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 630 | |||
Buildings and Improvements | 3,617 | |||
Total | 4,247 | |||
Accumulated Depreciation | $ (1,156) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
545 Saco ME | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 80 | |||
Buildings and Improvements | 2,363 | |||
Costs Capitalized Subsequent to Acquisition | 155 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 80 | |||
Buildings and Improvements | 2,518 | |||
Total | 2,598 | |||
Accumulated Depreciation | $ (801) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1258 Auburn Hills MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,281 | |||
Buildings and Improvements | 10,692 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,281 | |||
Buildings and Improvements | 10,692 | |||
Total | 12,973 | |||
Accumulated Depreciation | $ (2,473) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1248 Farmington Hills MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,013 | |||
Buildings and Improvements | 12,119 | |||
Costs Capitalized Subsequent to Acquisition | 457 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,013 | |||
Buildings and Improvements | 12,233 | |||
Total | 13,246 | |||
Accumulated Depreciation | $ (3,019) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1094 Portage MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 276 | |||
Buildings and Improvements | 5,733 | |||
Costs Capitalized Subsequent to Acquisition | 5,012 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 276 | |||
Buildings and Improvements | 10,378 | |||
Total | 10,654 | |||
Accumulated Depreciation | $ (2,168) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2435 Southfield MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,235 | |||
Buildings and Improvements | 9,961 | |||
Costs Capitalized Subsequent to Acquisition | 61 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,235 | |||
Buildings and Improvements | 10,022 | |||
Total | 12,257 | |||
Accumulated Depreciation | $ (221) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
472 Sterling Heights MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 920 | |||
Buildings and Improvements | 7,326 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 920 | |||
Buildings and Improvements | 7,326 | |||
Total | 8,246 | |||
Accumulated Depreciation | $ (3,000) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1259 Sterling Heights MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,593 | |||
Buildings and Improvements | 11,500 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,593 | |||
Buildings and Improvements | 11,181 | |||
Total | 12,774 | |||
Accumulated Depreciation | $ (2,586) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2143 Champlin MN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,576 | |||
Buildings and Improvements | 26,725 | |||
Costs Capitalized Subsequent to Acquisition | 291 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,576 | |||
Buildings and Improvements | 27,016 | |||
Total | 28,592 | |||
Accumulated Depreciation | $ (6,061) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
1235 Des Peres MO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,361 | |||
Buildings and Improvements | 20,664 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,361 | |||
Buildings and Improvements | 20,046 | |||
Total | 24,407 | |||
Accumulated Depreciation | $ (4,636) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1236 Richmond Heights MO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,744 | |||
Buildings and Improvements | 24,232 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,744 | |||
Buildings and Improvements | 23,548 | |||
Total | 25,292 | |||
Accumulated Depreciation | $ (5,445) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
853 St.Louis Mo | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,500 | |||
Buildings and Improvements | 20,343 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,500 | |||
Buildings and Improvements | 19,853 | |||
Total | 22,353 | |||
Accumulated Depreciation | $ (6,342) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2081 St Peters MO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,377 | |||
Buildings and Improvements | 31,508 | |||
Costs Capitalized Subsequent to Acquisition | 1,877 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,377 | |||
Buildings and Improvements | 33,385 | |||
Total | 34,762 | |||
Accumulated Depreciation | $ (3,055) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2074 Oxford MS | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,003 | |||
Buildings and Improvements | 14,140 | |||
Costs Capitalized Subsequent to Acquisition | 99 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,003 | |||
Buildings and Improvements | 14,239 | |||
Total | 16,242 | |||
Accumulated Depreciation | $ (1,247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
842 Great Falls MT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 500 | |||
Buildings and Improvements | 5,683 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 500 | |||
Buildings and Improvements | 5,423 | |||
Total | 5,923 | |||
Accumulated Depreciation | $ (1,333) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2163 Great Falls MT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 252 | |||
Buildings and Improvements | 9,908 | |||
Costs Capitalized Subsequent to Acquisition | 199 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 252 | |||
Buildings and Improvements | 10,107 | |||
Total | 10,359 | |||
Accumulated Depreciation | $ (853) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
878 Charlotte NC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 710 | |||
Buildings and Improvements | 9,559 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 710 | |||
Buildings and Improvements | 9,159 | |||
Total | 9,869 | |||
Accumulated Depreciation | $ (2,080) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2374 Charlotte NC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,051 | |||
Buildings and Improvements | 6,529 | |||
Costs Capitalized Subsequent to Acquisition | 1,168 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,051 | |||
Buildings and Improvements | 7,514 | |||
Total | 9,565 | |||
Accumulated Depreciation | $ (1,125) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1119 Concord NC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 601 | |||
Buildings and Improvements | 7,615 | |||
Costs Capitalized Subsequent to Acquisition | 166 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 612 | |||
Buildings and Improvements | 7,546 | |||
Total | 8,158 | |||
Accumulated Depreciation | $ (1,830) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2126 Mooresville NC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,538 | |||
Buildings and Improvements | 37,617 | |||
Costs Capitalized Subsequent to Acquisition | 366 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,538 | |||
Buildings and Improvements | 37,983 | |||
Total | 40,521 | |||
Accumulated Depreciation | $ (3,101) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
1254 Raleigh NC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,191 | |||
Buildings and Improvements | 11,532 | |||
Costs Capitalized Subsequent to Acquisition | 369 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,191 | |||
Buildings and Improvements | 11,616 | |||
Total | 12,807 | |||
Accumulated Depreciation | $ (2,767) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2127 Minot ND | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 685 | |||
Buildings and Improvements | 16,047 | |||
Costs Capitalized Subsequent to Acquisition | 362 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 685 | |||
Buildings and Improvements | 16,409 | |||
Total | 17,094 | |||
Accumulated Depreciation | $ (1,420) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2080 Kearney NE | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 856 | |||
Buildings and Improvements | 22,584 | |||
Costs Capitalized Subsequent to Acquisition | 290 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 856 | |||
Buildings and Improvements | 22,874 | |||
Total | 23,730 | |||
Accumulated Depreciation | $ (1,952) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2169 Lexington NE | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 474 | |||
Buildings and Improvements | 8,405 | |||
Costs Capitalized Subsequent to Acquisition | 55 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 474 | |||
Buildings and Improvements | 8,460 | |||
Total | 8,934 | |||
Accumulated Depreciation | $ (996) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2168 Mc Cook NE | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,024 | |||
Buildings and Improvements | 13,789 | |||
Costs Capitalized Subsequent to Acquisition | 211 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,024 | |||
Buildings and Improvements | 14,000 | |||
Total | 15,024 | |||
Accumulated Depreciation | $ (1,639) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2129 Seward NE | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 792 | |||
Buildings and Improvements | 18,276 | |||
Costs Capitalized Subsequent to Acquisition | 260 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 792 | |||
Buildings and Improvements | 18,536 | |||
Total | 19,328 | |||
Accumulated Depreciation | $ (1,859) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2119 Wayne NE | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,005 | |||
Buildings and Improvements | 13,953 | |||
Costs Capitalized Subsequent to Acquisition | 279 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,005 | |||
Buildings and Improvements | 14,232 | |||
Total | 15,237 | |||
Accumulated Depreciation | $ (1,304) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1599 Cherry Hill NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,420 | |||
Buildings and Improvements | 11,042 | |||
Costs Capitalized Subsequent to Acquisition | 1,454 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,420 | |||
Buildings and Improvements | 11,946 | |||
Total | 14,366 | |||
Accumulated Depreciation | $ (2,400) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1239 Cresskill NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,684 | |||
Buildings and Improvements | 53,927 | |||
Costs Capitalized Subsequent to Acquisition | 229 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,684 | |||
Buildings and Improvements | 53,170 | |||
Total | 57,854 | |||
Accumulated Depreciation | $ (12,312) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
734 Hillsborough NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,042 | |||
Buildings and Improvements | 10,042 | |||
Costs Capitalized Subsequent to Acquisition | 131 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,042 | |||
Buildings and Improvements | 9,707 | |||
Total | 10,749 | |||
Accumulated Depreciation | $ (2,564) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1242 Madison NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,157 | |||
Buildings and Improvements | 19,909 | |||
Costs Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,157 | |||
Buildings and Improvements | 19,398 | |||
Total | 22,555 | |||
Accumulated Depreciation | $ (4,508) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
733 Manahawkin NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 921 | |||
Buildings and Improvements | 9,927 | |||
Costs Capitalized Subsequent to Acquisition | 318 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 921 | |||
Buildings and Improvements | 9,779 | |||
Total | 10,700 | |||
Accumulated Depreciation | $ (2,538) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2359 Paramus NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,280 | |||
Buildings and Improvements | 31,684 | |||
Costs Capitalized Subsequent to Acquisition | 1,152 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,280 | |||
Buildings and Improvements | 32,135 | |||
Total | 36,415 | |||
Accumulated Depreciation | $ (7,396) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1231 Saddle River NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,784 | |||
Buildings and Improvements | 15,625 | |||
Costs Capitalized Subsequent to Acquisition | 351 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,784 | |||
Buildings and Improvements | 15,532 | |||
Total | 17,316 | |||
Accumulated Depreciation | $ (3,695) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
245 Voorhees Township NJ | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 900 | |||
Buildings and Improvements | 7,629 | |||
Costs Capitalized Subsequent to Acquisition | 279 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 900 | |||
Buildings and Improvements | 7,908 | |||
Total | 8,808 | |||
Accumulated Depreciation | $ (2,819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
213 Albuquerque NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 767 | |||
Buildings and Improvements | 9,324 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 767 | |||
Buildings and Improvements | 8,825 | |||
Total | 9,592 | |||
Accumulated Depreciation | $ (3,643) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2387 Albuquerque NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,223 | |||
Buildings and Improvements | 8,049 | |||
Costs Capitalized Subsequent to Acquisition | 79 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,223 | |||
Buildings and Improvements | 8,128 | |||
Total | 10,351 | |||
Accumulated Depreciation | $ (813) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2161 Rio Rancho NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,154 | |||
Buildings and Improvements | 13,726 | |||
Costs Capitalized Subsequent to Acquisition | 121 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,154 | |||
Buildings and Improvements | 13,847 | |||
Total | 15,001 | |||
Accumulated Depreciation | $ (1,311) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2121 Roswell NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 618 | |||
Buildings and Improvements | 7,038 | |||
Costs Capitalized Subsequent to Acquisition | 539 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 618 | |||
Buildings and Improvements | 7,577 | |||
Total | 8,195 | |||
Accumulated Depreciation | $ (822) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2150 Roswell NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 837 | |||
Buildings and Improvements | 8,614 | |||
Costs Capitalized Subsequent to Acquisition | 835 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 837 | |||
Buildings and Improvements | 9,449 | |||
Total | 10,286 | |||
Accumulated Depreciation | $ (1,036) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
796 Las Vegas NV | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,960 | |||
Buildings and Improvements | 5,816 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,960 | |||
Buildings and Improvements | 5,426 | |||
Total | 7,386 | |||
Accumulated Depreciation | $ (1,413) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2110 Las Vegas NV | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 667 | |||
Buildings and Improvements | 14,469 | |||
Costs Capitalized Subsequent to Acquisition | 213 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 667 | |||
Buildings and Improvements | 14,682 | |||
Total | 15,349 | |||
Accumulated Depreciation | $ (1,525) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1252 Brooklyn NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,117 | |||
Buildings and Improvements | 23,627 | |||
Costs Capitalized Subsequent to Acquisition | 783 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,117 | |||
Buildings and Improvements | 23,834 | |||
Total | 31,951 | |||
Accumulated Depreciation | $ (5,907) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1256 Brooklyn NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,215 | |||
Buildings and Improvements | 39,052 | |||
Costs Capitalized Subsequent to Acquisition | 723 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,215 | |||
Buildings and Improvements | 38,924 | |||
Total | 44,139 | |||
Accumulated Depreciation | $ (9,037) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2177 Clifton Park NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,257 | |||
Buildings and Improvements | 11,470 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,257 | |||
Buildings and Improvements | 11,470 | |||
Total | 13,727 | |||
Accumulated Depreciation | $ (1,122) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2176 Greece NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 666 | |||
Buildings and Improvements | 9,569 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 666 | |||
Buildings and Improvements | 9,569 | |||
Total | 10,235 | |||
Accumulated Depreciation | $ (927) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2178 Greece NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 601 | |||
Buildings and Improvements | 7,362 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 601 | |||
Buildings and Improvements | 7,362 | |||
Total | 7,963 | |||
Accumulated Depreciation | $ (727) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2174 Orchard Park NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 726 | |||
Buildings and Improvements | 17,735 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 726 | |||
Buildings and Improvements | 17,735 | |||
Total | 18,461 | |||
Accumulated Depreciation | $ (1,813) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2175 Orchard Park NY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 478 | |||
Buildings and Improvements | 11,961 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 478 | |||
Buildings and Improvements | 11,961 | |||
Total | 12,439 | |||
Accumulated Depreciation | $ (1,207) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2436 Bedford OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,110 | |||
Buildings and Improvements | 5,932 | |||
Costs Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,110 | |||
Buildings and Improvements | 6,008 | |||
Total | 8,118 | |||
Accumulated Depreciation | $ (143) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2516 Centerville OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,080 | |||
Buildings and Improvements | 10,911 | |||
Costs Capitalized Subsequent to Acquisition | 621 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,080 | |||
Buildings and Improvements | 11,532 | |||
Total | 12,612 | |||
Accumulated Depreciation | $ (247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2512 Cincinnati OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,220 | |||
Buildings and Improvements | 6,391 | |||
Costs Capitalized Subsequent to Acquisition | 288 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,220 | |||
Buildings and Improvements | 6,679 | |||
Total | 7,899 | |||
Accumulated Depreciation | $ (173) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
473 Cincinnati OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 600 | |||
Buildings and Improvements | 4,428 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 600 | |||
Buildings and Improvements | 4,428 | |||
Total | 5,028 | |||
Accumulated Depreciation | $ (1,814) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
841 Columbus OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 970 | |||
Buildings and Improvements | 7,806 | |||
Costs Capitalized Subsequent to Acquisition | 1,330 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 970 | |||
Buildings and Improvements | 8,746 | |||
Total | 9,716 | |||
Accumulated Depreciation | $ (2,042) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
857 Fairborn OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 810 | |||
Buildings and Improvements | 8,311 | |||
Costs Capitalized Subsequent to Acquisition | 42 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 810 | |||
Buildings and Improvements | 8,053 | |||
Total | 8,863 | |||
Accumulated Depreciation | $ (2,158) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
1147 Fairborn OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 298 | |||
Buildings and Improvements | 10,704 | |||
Costs Capitalized Subsequent to Acquisition | 3,068 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 298 | |||
Buildings and Improvements | 13,541 | |||
Total | 13,839 | |||
Accumulated Depreciation | $ (3,007) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1386 Marietta OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,069 | |||
Buildings and Improvements | 11,435 | |||
Costs Capitalized Subsequent to Acquisition | 119 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,069 | |||
Buildings and Improvements | 11,349 | |||
Total | 12,418 | |||
Accumulated Depreciation | $ (3,732) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1159 Willoughby OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,177 | |||
Buildings and Improvements | 9,982 | |||
Costs Capitalized Subsequent to Acquisition | 1,029 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,194 | |||
Buildings and Improvements | 10,589 | |||
Total | 11,783 | |||
Accumulated Depreciation | $ (2,415) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1253 Youngstown OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 695 | |||
Buildings and Improvements | 10,444 | |||
Costs Capitalized Subsequent to Acquisition | 268 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 695 | |||
Buildings and Improvements | 10,375 | |||
Total | 11,070 | |||
Accumulated Depreciation | $ (2,410) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2158 Broken Arrow OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,115 | |||
Buildings and Improvements | 18,852 | |||
Costs Capitalized Subsequent to Acquisition | 194 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,115 | |||
Buildings and Improvements | 19,046 | |||
Total | 20,161 | |||
Accumulated Depreciation | $ (1,575) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2122 Muskogee OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 412 | |||
Buildings and Improvements | 2,815 | |||
Costs Capitalized Subsequent to Acquisition | 125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 412 | |||
Buildings and Improvements | 2,940 | |||
Total | 3,352 | |||
Accumulated Depreciation | $ (375) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2083 Oklahoma City OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,116 | |||
Buildings and Improvements | 28,007 | |||
Costs Capitalized Subsequent to Acquisition | 1,550 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,116 | |||
Buildings and Improvements | 29,557 | |||
Total | 31,673 | |||
Accumulated Depreciation | $ (2,485) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2372 Oklahoma City OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 801 | |||
Buildings and Improvements | 4,904 | |||
Costs Capitalized Subsequent to Acquisition | 420 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 811 | |||
Buildings and Improvements | 4,931 | |||
Total | 5,742 | |||
Accumulated Depreciation | $ (1,225) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2383 Oklahoma City Ok | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,345 | |||
Buildings and Improvements | 3,943 | |||
Costs Capitalized Subsequent to Acquisition | 147 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,345 | |||
Buildings and Improvements | 4,090 | |||
Total | 5,435 | |||
Accumulated Depreciation | $ (473) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2070 Tahlequah OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 256 | |||
Buildings and Improvements | 5,648 | |||
Costs Capitalized Subsequent to Acquisition | 286 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 256 | |||
Buildings and Improvements | 5,934 | |||
Total | 6,190 | |||
Accumulated Depreciation | $ (582) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1160 Tulsa OK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,115 | |||
Buildings and Improvements | 11,028 | |||
Costs Capitalized Subsequent to Acquisition | 494 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,129 | |||
Buildings and Improvements | 10,819 | |||
Total | 11,948 | |||
Accumulated Depreciation | $ (2,572) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2130 Ashland OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 19,303 | |||
Costs Capitalized Subsequent to Acquisition | 74 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,377 | |||
Total | 19,377 | |||
Accumulated Depreciation | $ (1,721) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2103 Eagle Point OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 609 | |||
Buildings and Improvements | 12,117 | |||
Costs Capitalized Subsequent to Acquisition | 60 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 609 | |||
Buildings and Improvements | 12,177 | |||
Total | 12,786 | |||
Accumulated Depreciation | $ (1,044) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2098 Eugene OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,082 | |||
Buildings and Improvements | 18,858 | |||
Costs Capitalized Subsequent to Acquisition | 52 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,082 | |||
Buildings and Improvements | 18,910 | |||
Total | 19,992 | |||
Accumulated Depreciation | $ (1,582) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2104 Eugene OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 653 | |||
Buildings and Improvements | 13,568 | |||
Costs Capitalized Subsequent to Acquisition | 47 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 653 | |||
Buildings and Improvements | 13,615 | |||
Total | 14,268 | |||
Accumulated Depreciation | $ (1,159) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2390 Grants Pass OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 430 | |||
Buildings and Improvements | 3,267 | |||
Costs Capitalized Subsequent to Acquisition | 20 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 430 | |||
Buildings and Improvements | 3,287 | |||
Total | 3,717 | |||
Accumulated Depreciation | $ (365) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2391 Grants Pass OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,064 | |||
Buildings and Improvements | 16,124 | |||
Costs Capitalized Subsequent to Acquisition | 59 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,064 | |||
Buildings and Improvements | 16,183 | |||
Total | 17,247 | |||
Accumulated Depreciation | $ (1,266) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2392 Grants Pass OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 618 | |||
Buildings and Improvements | 2,932 | |||
Costs Capitalized Subsequent to Acquisition | 109 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 618 | |||
Buildings and Improvements | 3,041 | |||
Total | 3,659 | |||
Accumulated Depreciation | $ (499) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2393 Grants Pass OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 774 | |||
Buildings and Improvements | 13,230 | |||
Costs Capitalized Subsequent to Acquisition | 49 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 774 | |||
Buildings and Improvements | 13,279 | |||
Total | 14,053 | |||
Accumulated Depreciation | $ (1,113) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2139 Gresham OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 465 | |||
Buildings and Improvements | 6,403 | |||
Costs Capitalized Subsequent to Acquisition | 28 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 465 | |||
Buildings and Improvements | 6,431 | |||
Total | 6,896 | |||
Accumulated Depreciation | $ (560) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2182 Hermiston Terrace OR | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,657 | |||
Initial Cost to Company | ||||
Land | 582 | |||
Buildings and Improvements | 8,087 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 582 | |||
Buildings and Improvements | 8,087 | |||
Total | 8,669 | |||
Accumulated Depreciation | $ (628) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2131 Keizer OR | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,747 | |||
Initial Cost to Company | ||||
Land | 551 | |||
Buildings and Improvements | 6,454 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 551 | |||
Buildings and Improvements | 6,454 | |||
Total | 7,005 | |||
Accumulated Depreciation | $ (543) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2140 Lebanon OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 505 | |||
Buildings and Improvements | 12,571 | |||
Costs Capitalized Subsequent to Acquisition | 129 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 505 | |||
Buildings and Improvements | 12,700 | |||
Total | 13,205 | |||
Accumulated Depreciation | $ (1,113) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2152 McMinnville OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,203 | |||
Buildings and Improvements | 24,909 | |||
Costs Capitalized Subsequent to Acquisition | 1,337 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,203 | |||
Buildings and Improvements | 26,246 | |||
Total | 29,449 | |||
Accumulated Depreciation | $ (3,362) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2090 Monmouth OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 490 | |||
Buildings and Improvements | 1,278 | |||
Costs Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 490 | |||
Buildings and Improvements | 1,287 | |||
Total | 1,777 | |||
Accumulated Depreciation | $ (195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2106 Monmouth OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 603 | |||
Buildings and Improvements | 8,538 | |||
Costs Capitalized Subsequent to Acquisition | 62 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 603 | |||
Buildings and Improvements | 8,600 | |||
Total | 9,203 | |||
Accumulated Depreciation | $ (819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2089 Newberg OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,889 | |||
Buildings and Improvements | 16,855 | |||
Costs Capitalized Subsequent to Acquisition | 83 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,889 | |||
Buildings and Improvements | 16,938 | |||
Total | 18,827 | |||
Accumulated Depreciation | $ (1,418) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2133 Portland OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,615 | |||
Buildings and Improvements | 12,030 | |||
Costs Capitalized Subsequent to Acquisition | 35 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,615 | |||
Buildings and Improvements | 12,065 | |||
Total | 13,680 | |||
Accumulated Depreciation | $ (960) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2151 Portland OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,677 | |||
Buildings and Improvements | 9,469 | |||
Costs Capitalized Subsequent to Acquisition | 147 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,677 | |||
Buildings and Improvements | 9,616 | |||
Total | 11,293 | |||
Accumulated Depreciation | $ (984) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2171 Portland OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 16,087 | |||
Costs Capitalized Subsequent to Acquisition | 78 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 16,165 | |||
Total | 16,165 | |||
Accumulated Depreciation | $ (1,226) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2050 Redmond OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,229 | |||
Buildings and Improvements | 21,921 | |||
Costs Capitalized Subsequent to Acquisition | 544 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,229 | |||
Buildings and Improvements | 22,465 | |||
Total | 23,694 | |||
Accumulated Depreciation | $ (1,668) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2084 Roseburg OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,042 | |||
Buildings and Improvements | 12,090 | |||
Costs Capitalized Subsequent to Acquisition | 72 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,042 | |||
Buildings and Improvements | 12,162 | |||
Total | 13,204 | |||
Accumulated Depreciation | $ (1,155) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2134 Scappoose OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 353 | |||
Buildings and Improvements | 1,258 | |||
Costs Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 353 | |||
Buildings and Improvements | 1,269 | |||
Total | 1,622 | |||
Accumulated Depreciation | $ (160) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2153 Scappoose OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 971 | |||
Buildings and Improvements | 7,116 | |||
Costs Capitalized Subsequent to Acquisition | 78 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 971 | |||
Buildings and Improvements | 7,194 | |||
Total | 8,165 | |||
Accumulated Depreciation | $ (782) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2051 Springfield OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,124 | |||
Buildings and Improvements | 22,515 | |||
Costs Capitalized Subsequent to Acquisition | 166 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,124 | |||
Buildings and Improvements | 22,681 | |||
Total | 23,805 | |||
Accumulated Depreciation | $ (1,809) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2057 Springfield OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 527 | |||
Buildings and Improvements | 6,035 | |||
Costs Capitalized Subsequent to Acquisition | 52 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 527 | |||
Buildings and Improvements | 6,087 | |||
Total | 6,614 | |||
Accumulated Depreciation | $ (603) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2056 Stayton OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 48 | |||
Buildings and Improvements | 569 | |||
Costs Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 48 | |||
Buildings and Improvements | 576 | |||
Total | 624 | |||
Accumulated Depreciation | $ (95) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2058 Stayton OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 253 | |||
Buildings and Improvements | 8,621 | |||
Costs Capitalized Subsequent to Acquisition | 24 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 253 | |||
Buildings and Improvements | 8,645 | |||
Total | 8,898 | |||
Accumulated Depreciation | $ (821) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2088 Tualatin OR | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,326 | |||
Costs Capitalized Subsequent to Acquisition | 157 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 6,483 | |||
Total | 6,483 | |||
Accumulated Depreciation | $ (788) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2180 Windfield Village OR | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 3,216 | |||
Initial Cost to Company | ||||
Land | 580 | |||
Buildings and Improvements | 9,817 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 580 | |||
Buildings and Improvements | 9,817 | |||
Total | 10,397 | |||
Accumulated Depreciation | $ (824) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1163 Haverford PA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 16,461 | |||
Buildings and Improvements | 108,816 | |||
Costs Capitalized Subsequent to Acquisition | 7,894 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 16,461 | |||
Buildings and Improvements | 115,098 | |||
Total | 131,559 | |||
Accumulated Depreciation | $ (27,525) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2063 Selinsgrove PA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 529 | |||
Buildings and Improvements | 9,111 | |||
Costs Capitalized Subsequent to Acquisition | 64 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 529 | |||
Buildings and Improvements | 9,175 | |||
Total | 9,704 | |||
Accumulated Depreciation | $ (967) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1967 Cumberland RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,630 | |||
Buildings and Improvements | 19,050 | |||
Costs Capitalized Subsequent to Acquisition | 770 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,630 | |||
Buildings and Improvements | 19,473 | |||
Total | 22,103 | |||
Accumulated Depreciation | $ (3,424) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1959 East Providence RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 14,462 | |||
Initial Cost to Company | ||||
Land | 1,890 | |||
Buildings and Improvements | 13,989 | |||
Costs Capitalized Subsequent to Acquisition | 1,278 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,890 | |||
Buildings and Improvements | 15,014 | |||
Total | 16,904 | |||
Accumulated Depreciation | $ (2,771) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1960 Greenwich RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,920 | |||
Initial Cost to Company | ||||
Land | 450 | |||
Buildings and Improvements | 11,845 | |||
Costs Capitalized Subsequent to Acquisition | 1,518 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 450 | |||
Buildings and Improvements | 13,098 | |||
Total | 13,548 | |||
Accumulated Depreciation | $ (2,498) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2511 Johnston RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,113 | |||
Buildings and Improvements | 12,947 | |||
Costs Capitalized Subsequent to Acquisition | 1,402 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,113 | |||
Buildings and Improvements | 14,350 | |||
Total | 16,463 | |||
Accumulated Depreciation | $ (313) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1972 Smithfield RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,250 | |||
Buildings and Improvements | 17,816 | |||
Costs Capitalized Subsequent to Acquisition | 653 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,250 | |||
Buildings and Improvements | 18,134 | |||
Total | 19,384 | |||
Accumulated Depreciation | $ (3,297) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1973 South Kingstown RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,390 | |||
Buildings and Improvements | 12,551 | |||
Costs Capitalized Subsequent to Acquisition | 630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,390 | |||
Buildings and Improvements | 12,918 | |||
Total | 14,308 | |||
Accumulated Depreciation | $ (2,240) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1975 Tiverton RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,240 | |||
Buildings and Improvements | 25,735 | |||
Costs Capitalized Subsequent to Acquisition | 651 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,240 | |||
Buildings and Improvements | 25,955 | |||
Total | 29,195 | |||
Accumulated Depreciation | $ (4,433) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1962 Warwick RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 14,151 | |||
Initial Cost to Company | ||||
Land | 1,050 | |||
Buildings and Improvements | 17,389 | |||
Costs Capitalized Subsequent to Acquisition | 2,103 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 19,136 | |||
Total | 20,186 | |||
Accumulated Depreciation | $ (3,660) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1104 Aiken SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 357 | |||
Buildings and Improvements | 14,832 | |||
Costs Capitalized Subsequent to Acquisition | 151 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 363 | |||
Buildings and Improvements | 14,471 | |||
Total | 14,834 | |||
Accumulated Depreciation | $ (3,425) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1100 Charleston SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 885 | |||
Buildings and Improvements | 14,124 | |||
Costs Capitalized Subsequent to Acquisition | 292 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 896 | |||
Buildings and Improvements | 14,075 | |||
Total | 14,971 | |||
Accumulated Depreciation | $ (3,373) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1109 Columbia SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 408 | |||
Buildings and Improvements | 7,527 | |||
Costs Capitalized Subsequent to Acquisition | 131 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 412 | |||
Buildings and Improvements | 7,458 | |||
Total | 7,870 | |||
Accumulated Depreciation | $ (1,782) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2154 Florence SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 255 | |||
Buildings and Improvements | 4,052 | |||
Costs Capitalized Subsequent to Acquisition | 557 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 255 | |||
Buildings and Improvements | 4,609 | |||
Total | 4,864 | |||
Accumulated Depreciation | $ (504) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
306 Georgetown SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 239 | |||
Buildings and Improvements | 3,008 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 239 | |||
Buildings and Improvements | 3,008 | |||
Total | 3,247 | |||
Accumulated Depreciation | $ (1,103) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
879 Greenville SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,090 | |||
Buildings and Improvements | 12,558 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,090 | |||
Buildings and Improvements | 12,058 | |||
Total | 13,148 | |||
Accumulated Depreciation | $ (2,738) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1172 Greenville SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 993 | |||
Buildings and Improvements | 16,314 | |||
Costs Capitalized Subsequent to Acquisition | 674 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,006 | |||
Buildings and Improvements | 16,075 | |||
Total | 17,081 | |||
Accumulated Depreciation | $ (3,751) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2059 Greenville SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 149 | |||
Buildings and Improvements | 3,827 | |||
Costs Capitalized Subsequent to Acquisition | 185 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 149 | |||
Buildings and Improvements | 4,012 | |||
Total | 4,161 | |||
Accumulated Depreciation | $ (457) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2099 Hilton Head Island SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 828 | |||
Buildings and Improvements | 6,285 | |||
Costs Capitalized Subsequent to Acquisition | 199 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 828 | |||
Buildings and Improvements | 6,484 | |||
Total | 7,312 | |||
Accumulated Depreciation | $ (721) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2111 Hilton Head Island SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,107 | |||
Buildings and Improvements | 1,873 | |||
Costs Capitalized Subsequent to Acquisition | 67 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,107 | |||
Buildings and Improvements | 1,940 | |||
Total | 3,047 | |||
Accumulated Depreciation | $ (273) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2112 Hilton Head Island SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 621 | |||
Buildings and Improvements | 2,234 | |||
Costs Capitalized Subsequent to Acquisition | 96 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 621 | |||
Buildings and Improvements | 2,330 | |||
Total | 2,951 | |||
Accumulated Depreciation | $ (306) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
305 Lancaster SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 84 | |||
Buildings and Improvements | 2,982 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 84 | |||
Buildings and Improvements | 2,982 | |||
Total | 3,066 | |||
Accumulated Depreciation | $ (1,009) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
880 Myrtle Beach SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 900 | |||
Buildings and Improvements | 10,913 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 900 | |||
Buildings and Improvements | 10,513 | |||
Total | 11,413 | |||
Accumulated Depreciation | $ (2,387) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
312 Rock Hill SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 203 | |||
Buildings and Improvements | 2,671 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 203 | |||
Buildings and Improvements | 2,671 | |||
Total | 2,874 | |||
Accumulated Depreciation | $ (959) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1113 Rock Hill SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 695 | |||
Buildings and Improvements | 4,119 | |||
Costs Capitalized Subsequent to Acquisition | 322 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 795 | |||
Buildings and Improvements | 4,126 | |||
Total | 4,921 | |||
Accumulated Depreciation | $ (1,110) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2076 Rock Hill SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 919 | |||
Buildings and Improvements | 14,741 | |||
Costs Capitalized Subsequent to Acquisition | 148 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 919 | |||
Buildings and Improvements | 14,889 | |||
Total | 15,808 | |||
Accumulated Depreciation | $ (1,381) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2093 Rock Hill SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 503 | |||
Buildings and Improvements | 4,281 | |||
Costs Capitalized Subsequent to Acquisition | 629 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 503 | |||
Buildings and Improvements | 4,910 | |||
Total | 5,413 | |||
Accumulated Depreciation | $ (475) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
313 Sumter SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 196 | |||
Buildings and Improvements | 2,623 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 196 | |||
Buildings and Improvements | 2,623 | |||
Total | 2,819 | |||
Accumulated Depreciation | $ (962) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2067 West Columbia SC | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 220 | |||
Buildings and Improvements | 2,662 | |||
Costs Capitalized Subsequent to Acquisition | 247 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 220 | |||
Buildings and Improvements | 2,909 | |||
Total | 3,129 | |||
Accumulated Depreciation | $ (370) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2132 Cordova TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,167 | |||
Buildings and Improvements | 5,829 | |||
Costs Capitalized Subsequent to Acquisition | 270 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,167 | |||
Buildings and Improvements | 6,099 | |||
Total | 8,266 | |||
Accumulated Depreciation | $ (649) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2060 Franklin TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,475 | |||
Buildings and Improvements | 27,337 | |||
Costs Capitalized Subsequent to Acquisition | 410 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,475 | |||
Buildings and Improvements | 27,747 | |||
Total | 30,222 | |||
Accumulated Depreciation | $ (2,355) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2401 Germantown TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,640 | |||
Buildings and Improvements | 64,588 | |||
Costs Capitalized Subsequent to Acquisition | 39 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,640 | |||
Buildings and Improvements | 64,626 | |||
Total | 68,266 | |||
Accumulated Depreciation | $ (1,204) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2385 Hendersonville TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,298 | |||
Buildings and Improvements | 2,464 | |||
Costs Capitalized Subsequent to Acquisition | 214 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,298 | |||
Buildings and Improvements | 2,678 | |||
Total | 3,976 | |||
Accumulated Depreciation | $ (381) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2073 Kingsport TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,113 | |||
Buildings and Improvements | 8,625 | |||
Costs Capitalized Subsequent to Acquisition | 88 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,113 | |||
Buildings and Improvements | 8,713 | |||
Total | 9,826 | |||
Accumulated Depreciation | $ (824) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2381 Memphis TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,315 | |||
Buildings and Improvements | 9,787 | |||
Costs Capitalized Subsequent to Acquisition | 107 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,315 | |||
Buildings and Improvements | 9,894 | |||
Total | 11,209 | |||
Accumulated Depreciation | $ (813) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2439 Memphis TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,320 | |||
Buildings and Improvements | 1,679 | |||
Costs Capitalized Subsequent to Acquisition | 122 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,320 | |||
Buildings and Improvements | 1,801 | |||
Total | 3,121 | |||
Accumulated Depreciation | $ (60) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1003 Nashville TN | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 10,696 | |||
Initial Cost to Company | ||||
Land | 812 | |||
Buildings and Improvements | 16,983 | |||
Costs Capitalized Subsequent to Acquisition | 2,524 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 812 | |||
Buildings and Improvements | 18,759 | |||
Total | 19,571 | |||
Accumulated Depreciation | $ (3,712) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2094 Nashville TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,444 | |||
Buildings and Improvements | 14,436 | |||
Costs Capitalized Subsequent to Acquisition | 305 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,444 | |||
Buildings and Improvements | 14,741 | |||
Total | 16,185 | |||
Accumulated Depreciation | $ (1,238) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
860 Oak Ridge TN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 500 | |||
Buildings and Improvements | 4,741 | |||
Costs Capitalized Subsequent to Acquisition | 173 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 500 | |||
Buildings and Improvements | 4,814 | |||
Total | 5,314 | |||
Accumulated Depreciation | $ (1,238) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
843 Abilene TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 300 | |||
Buildings and Improvements | 2,830 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 300 | |||
Buildings and Improvements | 2,710 | |||
Total | 3,010 | |||
Accumulated Depreciation | $ (650) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2107 Amarillo TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,315 | |||
Buildings and Improvements | 26,838 | |||
Costs Capitalized Subsequent to Acquisition | 184 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,315 | |||
Buildings and Improvements | 27,022 | |||
Total | 28,337 | |||
Accumulated Depreciation | $ (2,248) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1004 Arlington TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 13,685 | |||
Initial Cost to Company | ||||
Land | 2,002 | |||
Buildings and Improvements | 19,110 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,002 | |||
Buildings and Improvements | 18,729 | |||
Total | 20,731 | |||
Accumulated Depreciation | $ (4,071) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1116 Arlington TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,494 | |||
Buildings and Improvements | 12,192 | |||
Costs Capitalized Subsequent to Acquisition | 249 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,540 | |||
Buildings and Improvements | 11,873 | |||
Total | 14,413 | |||
Accumulated Depreciation | $ (2,854) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
511 Austin TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,960 | |||
Buildings and Improvements | 41,645 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,960 | |||
Buildings and Improvements | 41,645 | |||
Total | 44,605 | |||
Accumulated Depreciation | $ (17,005) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2377 Austin TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,860 | |||
Buildings and Improvements | 17,359 | |||
Costs Capitalized Subsequent to Acquisition | 1,543 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,973 | |||
Buildings and Improvements | 17,716 | |||
Total | 20,689 | |||
Accumulated Depreciation | $ (3,922) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2531 Austin TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 680 | |||
Buildings and Improvements | 15,342 | |||
Costs Capitalized Subsequent to Acquisition | 65 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 680 | |||
Buildings and Improvements | 15,408 | |||
Total | 16,088 | |||
Accumulated Depreciation | $ (278) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
202 Beaumont TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 145 | |||
Buildings and Improvements | 10,404 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 145 | |||
Buildings and Improvements | 10,020 | |||
Total | 10,165 | |||
Accumulated Depreciation | $ (4,210) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2075 Bedford TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,204 | |||
Buildings and Improvements | 26,845 | |||
Costs Capitalized Subsequent to Acquisition | 1,029 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,204 | |||
Buildings and Improvements | 27,874 | |||
Total | 29,078 | |||
Accumulated Depreciation | $ (2,279) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
844 Burleson TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,050 | |||
Buildings and Improvements | 5,242 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 4,902 | |||
Total | 5,952 | |||
Accumulated Depreciation | $ (1,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
848 Cedar Hill TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,070 | |||
Buildings and Improvements | 11,554 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,070 | |||
Buildings and Improvements | 11,104 | |||
Total | 12,174 | |||
Accumulated Depreciation | $ (2,660) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1325 Cedar Hill TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 440 | |||
Buildings and Improvements | 7,494 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 440 | |||
Buildings and Improvements | 6,974 | |||
Total | 7,414 | |||
Accumulated Depreciation | $ (1,525) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2396 Dallas TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,120 | |||
Buildings and Improvements | 8,986 | |||
Costs Capitalized Subsequent to Acquisition | 128 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,120 | |||
Buildings and Improvements | 9,114 | |||
Total | 11,234 | |||
Accumulated Depreciation | $ (890) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2438 Dallas TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,550 | |||
Buildings and Improvements | 11,551 | |||
Costs Capitalized Subsequent to Acquisition | 207 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,550 | |||
Buildings and Improvements | 11,757 | |||
Total | 14,307 | |||
Accumulated Depreciation | $ (234) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
513 Fort Worth TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,830 | |||
Buildings and Improvements | 50,832 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,830 | |||
Buildings and Improvements | 50,832 | |||
Total | 53,662 | |||
Accumulated Depreciation | $ (20,756) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
506 Friendswood TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 400 | |||
Buildings and Improvements | 7,354 | |||
Costs Capitalized Subsequent to Acquisition | 70 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 400 | |||
Buildings and Improvements | 7,424 | |||
Total | 7,824 | |||
Accumulated Depreciation | $ (2,212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2528 Graham TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 680 | |||
Buildings and Improvements | 8,513 | |||
Costs Capitalized Subsequent to Acquisition | 518 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 680 | |||
Buildings and Improvements | 9,031 | |||
Total | 9,711 | |||
Accumulated Depreciation | $ (187) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2529 Grand Prairie TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 840 | |||
Buildings and Improvements | 10,367 | |||
Costs Capitalized Subsequent to Acquisition | 460 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 840 | |||
Buildings and Improvements | 10,827 | |||
Total | 11,667 | |||
Accumulated Depreciation | $ (221) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
217 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 835 | |||
Buildings and Improvements | 7,195 | |||
Costs Capitalized Subsequent to Acquisition | 54 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 835 | |||
Buildings and Improvements | 7,249 | |||
Total | 8,084 | |||
Accumulated Depreciation | $ (2,896) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
491 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,470 | |||
Buildings and Improvements | 21,710 | |||
Costs Capitalized Subsequent to Acquisition | 750 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,470 | |||
Buildings and Improvements | 22,460 | |||
Total | 24,930 | |||
Accumulated Depreciation | $ (9,022) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1106 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,008 | |||
Buildings and Improvements | 15,333 | |||
Costs Capitalized Subsequent to Acquisition | 183 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,020 | |||
Buildings and Improvements | 15,098 | |||
Total | 16,118 | |||
Accumulated Depreciation | $ (3,574) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1955 Houston TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 47,527 | |||
Initial Cost to Company | ||||
Land | 9,820 | |||
Buildings and Improvements | 50,079 | |||
Costs Capitalized Subsequent to Acquisition | 8,022 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,820 | |||
Buildings and Improvements | 56,815 | |||
Total | 66,635 | |||
Accumulated Depreciation | $ (10,247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1957 Houston TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 31,212 | |||
Initial Cost to Company | ||||
Land | 8,170 | |||
Buildings and Improvements | 37,285 | |||
Costs Capitalized Subsequent to Acquisition | 3,905 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,170 | |||
Buildings and Improvements | 40,368 | |||
Total | 48,538 | |||
Accumulated Depreciation | $ (7,313) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1958 Houston TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 28,740 | |||
Initial Cost to Company | ||||
Land | 2,910 | |||
Buildings and Improvements | 37,443 | |||
Costs Capitalized Subsequent to Acquisition | 4,631 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,910 | |||
Buildings and Improvements | 41,183 | |||
Total | 44,093 | |||
Accumulated Depreciation | $ (7,546) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2068 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 985 | |||
Buildings and Improvements | 18,824 | |||
Costs Capitalized Subsequent to Acquisition | 502 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 985 | |||
Buildings and Improvements | 19,326 | |||
Total | 20,311 | |||
Accumulated Depreciation | $ (1,616) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2402 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,740 | |||
Buildings and Improvements | 32,057 | |||
Costs Capitalized Subsequent to Acquisition | 17 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,740 | |||
Buildings and Improvements | 32,074 | |||
Total | 33,814 | |||
Accumulated Depreciation | $ (753) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
820 Irving TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 710 | |||
Buildings and Improvements | 9,949 | |||
Costs Capitalized Subsequent to Acquisition | 1,455 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 710 | |||
Buildings and Improvements | 10,814 | |||
Total | 11,524 | |||
Accumulated Depreciation | $ (2,765) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2394 Kerrville TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,459 | |||
Buildings and Improvements | 33,407 | |||
Costs Capitalized Subsequent to Acquisition | 1,838 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,459 | |||
Buildings and Improvements | 35,245 | |||
Total | 36,704 | |||
Accumulated Depreciation | $ (3,076) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1111 Kingswood TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,877 | |||
Buildings and Improvements | 25,372 | |||
Costs Capitalized Subsequent to Acquisition | 247 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,961 | |||
Buildings and Improvements | 24,491 | |||
Total | 26,452 | |||
Accumulated Depreciation | $ (5,780) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2389 Lubbock TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,143 | |||
Buildings and Improvements | 4,656 | |||
Costs Capitalized Subsequent to Acquisition | 208 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,143 | |||
Buildings and Improvements | 4,864 | |||
Total | 6,007 | |||
Accumulated Depreciation | $ (542) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
845 North Richland Hills TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 520 | |||
Buildings and Improvements | 5,117 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 520 | |||
Buildings and Improvements | 4,807 | |||
Total | 5,327 | |||
Accumulated Depreciation | $ (1,152) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
846 North Richland Hills TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 870 | |||
Buildings and Improvements | 9,259 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 870 | |||
Buildings and Improvements | 8,819 | |||
Total | 9,689 | |||
Accumulated Depreciation | $ (2,415) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2113 North Richland Hills TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 909 | |||
Buildings and Improvements | 11,337 | |||
Costs Capitalized Subsequent to Acquisition | 103 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 909 | |||
Buildings and Improvements | 11,440 | |||
Total | 12,349 | |||
Accumulated Depreciation | $ (963) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2530 North Richland Hills TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,060 | |||
Buildings and Improvements | 17,645 | |||
Costs Capitalized Subsequent to Acquisition | 426 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,060 | |||
Buildings and Improvements | 18,071 | |||
Total | 19,131 | |||
Accumulated Depreciation | $ (344) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1102 Plano TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 494 | |||
Buildings and Improvements | 12,518 | |||
Costs Capitalized Subsequent to Acquisition | 145 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 505 | |||
Buildings and Improvements | 12,247 | |||
Total | 12,752 | |||
Accumulated Depreciation | $ (2,898) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2379 Plano TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 590 | |||
Buildings and Improvements | 6,930 | |||
Costs Capitalized Subsequent to Acquisition | 122 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 590 | |||
Buildings and Improvements | 7,052 | |||
Total | 7,642 | |||
Accumulated Depreciation | $ (695) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2162 Portland TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,233 | |||
Buildings and Improvements | 14,001 | |||
Costs Capitalized Subsequent to Acquisition | 281 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,233 | |||
Buildings and Improvements | 14,282 | |||
Total | 15,515 | |||
Accumulated Depreciation | $ (1,387) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
494 San Antonio TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,507 | |||
Initial Cost to Company | ||||
Land | 730 | |||
Buildings and Improvements | 3,961 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 730 | |||
Buildings and Improvements | 3,961 | |||
Total | 4,691 | |||
Accumulated Depreciation | $ (1,210) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2378 San Antonio TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,860 | |||
Buildings and Improvements | 17,030 | |||
Costs Capitalized Subsequent to Acquisition | 1,295 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,880 | |||
Buildings and Improvements | 17,232 | |||
Total | 20,112 | |||
Accumulated Depreciation | $ (3,756) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2532 San Antonio Tx | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,120 | |||
Buildings and Improvements | 5,378 | |||
Costs Capitalized Subsequent to Acquisition | 265 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,120 | |||
Buildings and Improvements | 5,642 | |||
Total | 6,762 | |||
Accumulated Depreciation | $ (153) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2533 San Marcos TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 680 | |||
Buildings and Improvements | 17,570 | |||
Costs Capitalized Subsequent to Acquisition | 306 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 680 | |||
Buildings and Improvements | 17,876 | |||
Total | 18,556 | |||
Accumulated Depreciation | $ (321) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2116 Sherman TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 209 | |||
Buildings and Improvements | 3,492 | |||
Costs Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 209 | |||
Buildings and Improvements | 3,567 | |||
Total | 3,776 | |||
Accumulated Depreciation | $ (372) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1954 Sugar Land TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 30,738 | |||
Initial Cost to Company | ||||
Land | 3,420 | |||
Buildings and Improvements | 36,846 | |||
Costs Capitalized Subsequent to Acquisition | 3,920 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,420 | |||
Buildings and Improvements | 40,096 | |||
Total | 43,516 | |||
Accumulated Depreciation | $ (7,325) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2510 Temple TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,310 | |||
Buildings and Improvements | 53,749 | |||
Costs Capitalized Subsequent to Acquisition | 452 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,310 | |||
Buildings and Improvements | 54,201 | |||
Total | 56,511 | |||
Accumulated Depreciation | $ (975) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1103 The Woodlands TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 802 | |||
Buildings and Improvements | 17,358 | |||
Costs Capitalized Subsequent to Acquisition | 228 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 869 | |||
Buildings and Improvements | 17,071 | |||
Total | 17,940 | |||
Accumulated Depreciation | $ (4,051) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2400 Victoria TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,032 | |||
Buildings and Improvements | 7,743 | |||
Costs Capitalized Subsequent to Acquisition | 4 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,032 | |||
Buildings and Improvements | 7,747 | |||
Total | 8,779 | |||
Accumulated Depreciation | $ (37) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
195 Victoria TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 12,149 | |||
Initial Cost to Company | ||||
Land | 175 | |||
Buildings and Improvements | 4,290 | |||
Costs Capitalized Subsequent to Acquisition | 3,101 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 175 | |||
Buildings and Improvements | 7,018 | |||
Total | 7,193 | |||
Accumulated Depreciation | $ (2,352) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
847 Waxahachie TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 390 | |||
Buildings and Improvements | 3,879 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 390 | |||
Buildings and Improvements | 3,659 | |||
Total | 4,049 | |||
Accumulated Depreciation | $ (877) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1953 Webster TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 29,369 | |||
Initial Cost to Company | ||||
Land | 4,780 | |||
Buildings and Improvements | 30,854 | |||
Costs Capitalized Subsequent to Acquisition | 3,466 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,780 | |||
Buildings and Improvements | 33,661 | |||
Total | 38,441 | |||
Accumulated Depreciation | $ (6,292) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2534 Wichita Falls TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 690 | |||
Buildings and Improvements | 2,439 | |||
Costs Capitalized Subsequent to Acquisition | 522 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 690 | |||
Buildings and Improvements | 2,961 | |||
Total | 3,651 | |||
Accumulated Depreciation | $ (86) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2069 Cedar City UT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 437 | |||
Buildings and Improvements | 8,706 | |||
Costs Capitalized Subsequent to Acquisition | 744 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 437 | |||
Buildings and Improvements | 9,450 | |||
Total | 9,887 | |||
Accumulated Depreciation | $ (802) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2368 Salt Lake City UT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,621 | |||
Buildings and Improvements | 22,072 | |||
Costs Capitalized Subsequent to Acquisition | 1,266 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,654 | |||
Buildings and Improvements | 22,350 | |||
Total | 25,004 | |||
Accumulated Depreciation | $ (5,068) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2386 St. George UT | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 683 | |||
Buildings and Improvements | 9,436 | |||
Costs Capitalized Subsequent to Acquisition | 776 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 683 | |||
Buildings and Improvements | 10,212 | |||
Total | 10,895 | |||
Accumulated Depreciation | $ (890) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1244 Arlington VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,833 | |||
Buildings and Improvements | 7,076 | |||
Costs Capitalized Subsequent to Acquisition | 330 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,833 | |||
Buildings and Improvements | 7,170 | |||
Total | 11,003 | |||
Accumulated Depreciation | $ (1,719) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1245 Arlington VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,278 | |||
Buildings and Improvements | 37,407 | |||
Costs Capitalized Subsequent to Acquisition | 513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,278 | |||
Buildings and Improvements | 37,035 | |||
Total | 44,313 | |||
Accumulated Depreciation | $ (8,739) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2360 Arlington VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,320 | |||
Buildings and Improvements | 19,567 | |||
Costs Capitalized Subsequent to Acquisition | 1,505 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,320 | |||
Buildings and Improvements | 20,494 | |||
Total | 24,814 | |||
Accumulated Depreciation | $ (4,811) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
881 Chesapeake VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,090 | |||
Buildings and Improvements | 12,444 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,090 | |||
Buildings and Improvements | 11,944 | |||
Total | 13,034 | |||
Accumulated Depreciation | $ (2,712) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1247 Falls Church VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,228 | |||
Buildings and Improvements | 8,887 | |||
Costs Capitalized Subsequent to Acquisition | 529 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,228 | |||
Buildings and Improvements | 9,201 | |||
Total | 11,429 | |||
Accumulated Depreciation | $ (2,195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1164 Fort Belvoir VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,594 | |||
Buildings and Improvements | 99,528 | |||
Costs Capitalized Subsequent to Acquisition | 8,125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,594 | |||
Buildings and Improvements | 105,655 | |||
Total | 117,249 | |||
Accumulated Depreciation | $ (25,636) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1250 Leesburg VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 607 | |||
Buildings and Improvements | 3,236 | |||
Costs Capitalized Subsequent to Acquisition | 125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 607 | |||
Buildings and Improvements | 3,216 | |||
Total | 3,823 | |||
Accumulated Depreciation | $ (2,703) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2361 Richmond VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,110 | |||
Buildings and Improvements | 11,469 | |||
Costs Capitalized Subsequent to Acquisition | 1,956 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,110 | |||
Buildings and Improvements | 12,999 | |||
Total | 15,109 | |||
Accumulated Depreciation | $ (2,768) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2514 Richmond VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,015 | |||
Buildings and Improvements | 54,373 | |||
Costs Capitalized Subsequent to Acquisition | 141 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,015 | |||
Buildings and Improvements | 54,513 | |||
Total | 57,528 | |||
Accumulated Depreciation | $ (961) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1246 Sterling VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,360 | |||
Buildings and Improvements | 22,932 | |||
Costs Capitalized Subsequent to Acquisition | 640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,360 | |||
Buildings and Improvements | 23,060 | |||
Total | 25,420 | |||
Accumulated Depreciation | $ (5,528) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2077 Sterling VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,046 | |||
Buildings and Improvements | 15,788 | |||
Costs Capitalized Subsequent to Acquisition | 160 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,046 | |||
Buildings and Improvements | 15,948 | |||
Total | 16,994 | |||
Accumulated Depreciation | $ (1,301) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
225 Woodbridge VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 950 | |||
Buildings and Improvements | 6,983 | |||
Costs Capitalized Subsequent to Acquisition | 1,122 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 950 | |||
Buildings and Improvements | 8,104 | |||
Total | 9,054 | |||
Accumulated Depreciation | $ (2,742) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1173 Bellevue WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,734 | |||
Buildings and Improvements | 16,171 | |||
Costs Capitalized Subsequent to Acquisition | 323 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,737 | |||
Buildings and Improvements | 15,926 | |||
Total | 19,663 | |||
Accumulated Depreciation | $ (3,733) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2095 College Place WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 758 | |||
Buildings and Improvements | 8,051 | |||
Costs Capitalized Subsequent to Acquisition | 90 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 758 | |||
Buildings and Improvements | 8,141 | |||
Total | 8,899 | |||
Accumulated Depreciation | $ (816) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1240 Edmonds WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,418 | |||
Buildings and Improvements | 16,502 | |||
Costs Capitalized Subsequent to Acquisition | 91 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,418 | |||
Buildings and Improvements | 16,121 | |||
Total | 17,539 | |||
Accumulated Depreciation | $ (3,753) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2160 Kenmore WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,284 | |||
Buildings and Improvements | 16,641 | |||
Costs Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,284 | |||
Buildings and Improvements | 16,716 | |||
Total | 20,000 | |||
Accumulated Depreciation | $ (1,402) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
797 Kirkland WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,000 | |||
Buildings and Improvements | 13,403 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,000 | |||
Buildings and Improvements | 13,043 | |||
Total | 14,043 | |||
Accumulated Depreciation | $ (3,397) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1251 Mercer Island WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,209 | |||
Buildings and Improvements | 8,123 | |||
Costs Capitalized Subsequent to Acquisition | 468 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,209 | |||
Buildings and Improvements | 8,386 | |||
Total | 12,595 | |||
Accumulated Depreciation | $ (2,124) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2141 Moses Lake WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 429 | |||
Buildings and Improvements | 4,417 | |||
Costs Capitalized Subsequent to Acquisition | 80 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 429 | |||
Buildings and Improvements | 4,497 | |||
Total | 4,926 | |||
Accumulated Depreciation | $ (609) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2096 Poulsbo WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,801 | |||
Buildings and Improvements | 18,068 | |||
Costs Capitalized Subsequent to Acquisition | 136 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,801 | |||
Buildings and Improvements | 18,204 | |||
Total | 20,005 | |||
Accumulated Depreciation | $ (1,644) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2102 Richland WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 249 | |||
Buildings and Improvements | 5,067 | |||
Costs Capitalized Subsequent to Acquisition | 89 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 249 | |||
Buildings and Improvements | 5,156 | |||
Total | 5,405 | |||
Accumulated Depreciation | $ (446) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
794 Shoreline WA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 8,512 | |||
Initial Cost to Company | ||||
Land | 1,590 | |||
Buildings and Improvements | 10,671 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,590 | |||
Buildings and Improvements | 10,261 | |||
Total | 11,851 | |||
Accumulated Depreciation | $ (2,672) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
795 Shoreline WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,030 | |||
Buildings and Improvements | 26,421 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,030 | |||
Buildings and Improvements | 25,651 | |||
Total | 29,681 | |||
Accumulated Depreciation | $ (6,610) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2097 Spokane WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 903 | |||
Buildings and Improvements | 5,363 | |||
Costs Capitalized Subsequent to Acquisition | 71 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 903 | |||
Buildings and Improvements | 5,434 | |||
Total | 6,337 | |||
Accumulated Depreciation | $ (638) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2061 Vancouver WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 513 | |||
Buildings and Improvements | 4,556 | |||
Costs Capitalized Subsequent to Acquisition | 98 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 513 | |||
Buildings and Improvements | 4,654 | |||
Total | 5,167 | |||
Accumulated Depreciation | $ (515) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2062 Vancouver WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,498 | |||
Buildings and Improvements | 9,997 | |||
Costs Capitalized Subsequent to Acquisition | 91 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,498 | |||
Buildings and Improvements | 10,088 | |||
Total | 11,586 | |||
Accumulated Depreciation | $ (879) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2052 Yakima WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 557 | |||
Buildings and Improvements | 5,897 | |||
Costs Capitalized Subsequent to Acquisition | 31 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 557 | |||
Buildings and Improvements | 5,928 | |||
Total | 6,485 | |||
Accumulated Depreciation | $ (551) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2078 Yakima WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 353 | |||
Buildings and Improvements | 5,668 | |||
Costs Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 353 | |||
Buildings and Improvements | 5,679 | |||
Total | 6,032 | |||
Accumulated Depreciation | $ (475) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2114 Yakima WA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 721 | |||
Buildings and Improvements | 8,872 | |||
Costs Capitalized Subsequent to Acquisition | 1,203 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 721 | |||
Buildings and Improvements | 10,075 | |||
Total | 10,796 | |||
Accumulated Depreciation | $ (953) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2382 Appleton WI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 182 | |||
Buildings and Improvements | 12,581 | |||
Costs Capitalized Subsequent to Acquisition | 159 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 182 | |||
Buildings and Improvements | 12,740 | |||
Total | 12,922 | |||
Accumulated Depreciation | $ (1,085) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2170 Madison WI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 834 | |||
Buildings and Improvements | 10,050 | |||
Costs Capitalized Subsequent to Acquisition | 234 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 834 | |||
Buildings and Improvements | 10,284 | |||
Total | 11,118 | |||
Accumulated Depreciation | $ (996) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2398 Stevens Point WI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 801 | |||
Buildings and Improvements | 16,687 | |||
Costs Capitalized Subsequent to Acquisition | 112 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 801 | |||
Buildings and Improvements | 16,799 | |||
Total | 17,600 | |||
Accumulated Depreciation | $ (1,229) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2117 Bridgeport WV | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,174 | |||
Buildings and Improvements | 15,437 | |||
Costs Capitalized Subsequent to Acquisition | 208 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,174 | |||
Buildings and Improvements | 15,645 | |||
Total | 18,819 | |||
Accumulated Depreciation | $ (1,784) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2142 Cody WY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 708 | |||
Buildings and Improvements | 9,926 | |||
Costs Capitalized Subsequent to Acquisition | 155 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 708 | |||
Buildings and Improvements | 10,081 | |||
Total | 10,789 | |||
Accumulated Depreciation | $ (774) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2148 Sheridan WY | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 915 | |||
Buildings and Improvements | 12,047 | |||
Costs Capitalized Subsequent to Acquisition | 458 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 915 | |||
Buildings and Improvements | 12,505 | |||
Total | 13,420 | |||
Accumulated Depreciation | $ (1,119) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2210 Adlington UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 597 | |||
Buildings and Improvements | 7,747 | |||
Costs Capitalized Subsequent to Acquisition | 104 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 597 | |||
Buildings and Improvements | 7,851 | |||
Total | 8,448 | |||
Accumulated Depreciation | $ (327) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2211 Adlington UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 619 | |||
Buildings and Improvements | 4,706 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 620 | |||
Buildings and Improvements | 4,706 | |||
Total | 5,326 | |||
Accumulated Depreciation | $ (173) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2216 Alderley Edge UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,364 | |||
Buildings and Improvements | 9,502 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,364 | |||
Buildings and Improvements | 9,503 | |||
Total | 10,867 | |||
Accumulated Depreciation | $ (316) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2217 Alderley Edge UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,327 | |||
Buildings and Improvements | 7,441 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,327 | |||
Buildings and Improvements | 7,441 | |||
Total | 8,768 | |||
Accumulated Depreciation | $ (260) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2340 Altrincham UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,902 | |||
Buildings and Improvements | 20,373 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,902 | |||
Buildings and Improvements | 20,373 | |||
Total | 22,275 | |||
Accumulated Depreciation | $ (229) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2312 Armley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 487 | |||
Buildings and Improvements | 2,910 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 487 | |||
Buildings and Improvements | 2,910 | |||
Total | 3,397 | |||
Accumulated Depreciation | $ (83) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2313 Armley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,091 | |||
Buildings and Improvements | 3,394 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,091 | |||
Buildings and Improvements | 3,394 | |||
Total | 4,485 | |||
Accumulated Depreciation | $ (100) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2309 Ashton under Lyne UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 708 | |||
Buildings and Improvements | 4,912 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 708 | |||
Buildings and Improvements | 4,912 | |||
Total | 5,620 | |||
Accumulated Depreciation | $ (140) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2206 Bangor UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 420 | |||
Buildings and Improvements | 2,249 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 420 | |||
Buildings and Improvements | 2,249 | |||
Total | 2,669 | |||
Accumulated Depreciation | $ (102) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2207 Batley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 708 | |||
Buildings and Improvements | 3,491 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 707 | |||
Buildings and Improvements | 3,491 | |||
Total | 4,198 | |||
Accumulated Depreciation | $ (219) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2223 Catterick Garrison UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 870 | |||
Buildings and Improvements | 1,599 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 870 | |||
Buildings and Improvements | 1,598 | |||
Total | 2,468 | |||
Accumulated Depreciation | $ (142) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2226 Christleton UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 575 | |||
Buildings and Improvements | 5,562 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 575 | |||
Buildings and Improvements | 5,561 | |||
Total | 6,136 | |||
Accumulated Depreciation | $ (161) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2221 Disley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 376 | |||
Buildings and Improvements | 1,766 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 376 | |||
Buildings and Improvements | 1,766 | |||
Total | 2,142 | |||
Accumulated Depreciation | $ (84) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2227 Disley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 752 | |||
Buildings and Improvements | 4,320 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 752 | |||
Buildings and Improvements | 4,319 | |||
Total | 5,071 | |||
Accumulated Depreciation | $ (128) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2306 Dukinfield UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 826 | |||
Buildings and Improvements | 4,418 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 826 | |||
Buildings and Improvements | 4,418 | |||
Total | 5,244 | |||
Accumulated Depreciation | $ (123) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2316 Dukunfield UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 428 | |||
Buildings and Improvements | 2,715 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 428 | |||
Buildings and Improvements | 2,715 | |||
Total | 3,143 | |||
Accumulated Depreciation | $ (70) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2317 Dukinfield UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 575 | |||
Buildings and Improvements | 3,064 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 575 | |||
Buildings and Improvements | 3,064 | |||
Total | 3,639 | |||
Accumulated Depreciation | $ (92) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2303 Eckington UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 546 | |||
Buildings and Improvements | 1,785 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 546 | |||
Buildings and Improvements | 1,785 | |||
Total | 2,331 | |||
Accumulated Depreciation | $ (63) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2208 Elstead UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 973 | |||
Buildings and Improvements | 3,336 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 973 | |||
Buildings and Improvements | 3,336 | |||
Total | 4,309 | |||
Accumulated Depreciation | $ (167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2214 Gilroyd UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,088 | |||
Buildings and Improvements | 1,843 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,088 | |||
Buildings and Improvements | 1,842 | |||
Total | 2,930 | |||
Accumulated Depreciation | $ (155) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2213 Ilkley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,040 | |||
Buildings and Improvements | 2,744 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,039 | |||
Buildings and Improvements | 2,745 | |||
Total | 3,784 | |||
Accumulated Depreciation | $ (194) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2209 Kingswood UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,136 | |||
Buildings and Improvements | 4,233 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,136 | |||
Buildings and Improvements | 4,232 | |||
Total | 5,368 | |||
Accumulated Depreciation | $ (195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2212 Kirk Hammerton UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 478 | |||
Buildings and Improvements | 611 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 478 | |||
Buildings and Improvements | 611 | |||
Total | 1,089 | |||
Accumulated Depreciation | $ (63) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2304 Knotty Ash UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 708 | |||
Buildings and Improvements | 2,479 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 708 | |||
Buildings and Improvements | 2,479 | |||
Total | 3,187 | |||
Accumulated Depreciation | $ (80) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2310 Kirkby UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 619 | |||
Buildings and Improvements | 2,956 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 619 | |||
Buildings and Improvements | 2,956 | |||
Total | 3,575 | |||
Accumulated Depreciation | $ (90) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2322 Laindon UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,298 | |||
Buildings and Improvements | 3,020 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,298 | |||
Buildings and Improvements | 3,020 | |||
Total | 4,318 | |||
Accumulated Depreciation | $ (98) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2215 Leeds UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 549 | |||
Buildings and Improvements | 867 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 549 | |||
Buildings and Improvements | 867 | |||
Total | 1,416 | |||
Accumulated Depreciation | $ (95) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2326 Limehouse UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,419 | |||
Buildings and Improvements | 3,453 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,419 | |||
Buildings and Improvements | 3,453 | |||
Total | 5,872 | |||
Accumulated Depreciation | $ (120) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2321 Luton UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,165 | |||
Buildings and Improvements | 3,454 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,165 | |||
Buildings and Improvements | 3,454 | |||
Total | 4,619 | |||
Accumulated Depreciation | $ (100) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2339 Manchester UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,836 | |||
Buildings and Improvements | 16,496 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,836 | |||
Buildings and Improvements | 16,496 | |||
Total | 18,332 | |||
Accumulated Depreciation | $ (189) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2225 Wadebridge UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 324 | |||
Buildings and Improvements | 6,712 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 324 | |||
Buildings and Improvements | 6,712 | |||
Total | 7,036 | |||
Accumulated Depreciation | $ (249) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2305 Prescot UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 693 | |||
Buildings and Improvements | 2,596 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 693 | |||
Buildings and Improvements | 2,596 | |||
Total | 3,289 | |||
Accumulated Depreciation | $ (84) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2219 Ripon UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 206 | |||
Buildings and Improvements | 987 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 206 | |||
Buildings and Improvements | 987 | |||
Total | 1,193 | |||
Accumulated Depreciation | $ (63) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2314 Stalybridge UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 767 | |||
Buildings and Improvements | 3,932 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 767 | |||
Buildings and Improvements | 3,932 | |||
Total | 4,699 | |||
Accumulated Depreciation | $ (113) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2218 Stapeley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,084 | |||
Buildings and Improvements | 7,074 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,084 | |||
Buildings and Improvements | 7,074 | |||
Total | 8,158 | |||
Accumulated Depreciation | $ (273) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2224 Stockton-on-Tees UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 319 | |||
Buildings and Improvements | 2,273 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 319 | |||
Buildings and Improvements | 2,273 | |||
Total | 2,592 | |||
Accumulated Depreciation | $ (116) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2220 Thornton-Clevele UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 995 | |||
Buildings and Improvements | 4,977 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 995 | |||
Buildings and Improvements | 4,977 | |||
Total | 5,972 | |||
Accumulated Depreciation | $ (232) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2228 Upper Wortley UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 495 | |||
Buildings and Improvements | 3,668 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 496 | |||
Buildings and Improvements | 3,669 | |||
Total | 4,165 | |||
Accumulated Depreciation | $ (134) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2311 Wigan UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 782 | |||
Buildings and Improvements | 2,899 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 782 | |||
Buildings and Improvements | 2,899 | |||
Total | 3,681 | |||
Accumulated Depreciation | $ (109) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2222 Woolmer Green UK | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 907 | |||
Buildings and Improvements | 6,606 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 907 | |||
Buildings and Improvements | 6,606 | |||
Total | 7,513 | |||
Accumulated Depreciation | $ (278) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2 Fort Collins CO | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 499 | |||
Buildings and Improvements | 1,913 | |||
Costs Capitalized Subsequent to Acquisition | 1,454 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 499 | |||
Buildings and Improvements | 3,114 | |||
Total | 3,613 | |||
Accumulated Depreciation | $ (3,114) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
18 Morrison CO | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,429 | |||
Buildings and Improvements | 5,464 | |||
Costs Capitalized Subsequent to Acquisition | 4,019 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,429 | |||
Buildings and Improvements | 8,758 | |||
Total | 10,187 | |||
Accumulated Depreciation | $ (8,638) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 24 years | |||
280 Statesboro GA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 168 | |||
Buildings and Improvements | 1,507 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 168 | |||
Buildings and Improvements | 1,507 | |||
Total | 1,675 | |||
Accumulated Depreciation | $ (962) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
297 Rexburg ID | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 200 | |||
Buildings and Improvements | 5,310 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 200 | |||
Buildings and Improvements | 5,057 | |||
Total | 5,257 | |||
Accumulated Depreciation | $ (2,528) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
378 Anderson IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 500 | |||
Buildings and Improvements | 4,724 | |||
Costs Capitalized Subsequent to Acquisition | 10,341 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,166 | |||
Buildings and Improvements | 13,998 | |||
Total | 15,164 | |||
Accumulated Depreciation | $ (3,077) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
384 Angola IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 130 | |||
Buildings and Improvements | 2,900 | |||
Costs Capitalized Subsequent to Acquisition | 2,791 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 130 | |||
Buildings and Improvements | 5,691 | |||
Total | 5,821 | |||
Accumulated Depreciation | $ (1,730) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
385 Fort Wayne IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 200 | |||
Buildings and Improvements | 4,150 | |||
Costs Capitalized Subsequent to Acquisition | 2,667 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 200 | |||
Buildings and Improvements | 6,817 | |||
Total | 7,017 | |||
Accumulated Depreciation | $ (2,484) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
386 Fort Wayne IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 140 | |||
Buildings and Improvements | 3,760 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 140 | |||
Buildings and Improvements | 3,760 | |||
Total | 3,900 | |||
Accumulated Depreciation | $ (1,737) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
387 Huntington IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 30 | |||
Buildings and Improvements | 2,970 | |||
Costs Capitalized Subsequent to Acquisition | 338 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 30 | |||
Buildings and Improvements | 3,308 | |||
Total | 3,338 | |||
Accumulated Depreciation | $ (1,439) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
373 Kokomo IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 480 | |||
Buildings and Improvements | 4,622 | |||
Costs Capitalized Subsequent to Acquisition | 4,663 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 480 | |||
Buildings and Improvements | 9,022 | |||
Total | 9,502 | |||
Accumulated Depreciation | $ (1,884) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
454 New Albany 454 IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 230 | |||
Buildings and Improvements | 6,595 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 230 | |||
Buildings and Improvements | 6,595 | |||
Total | 6,825 | |||
Accumulated Depreciation | $ (2,779) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
484 Tell City IN | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 95 | |||
Buildings and Improvements | 6,210 | |||
Costs Capitalized Subsequent to Acquisition | 1,299 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 95 | |||
Buildings and Improvements | 7,509 | |||
Total | 7,604 | |||
Accumulated Depreciation | $ (2,308) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
688 Cynthiana KY | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 192 | |||
Buildings and Improvements | 4,875 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 192 | |||
Buildings and Improvements | 4,875 | |||
Total | 5,067 | |||
Accumulated Depreciation | $ (1,327) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
298 Franklin LA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 405 | |||
Buildings and Improvements | 3,424 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 405 | |||
Buildings and Improvements | 3,424 | |||
Total | 3,829 | |||
Accumulated Depreciation | $ (2,153) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
299 Morgan City LA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 203 | |||
Buildings and Improvements | 2,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 203 | |||
Buildings and Improvements | 2,050 | |||
Total | 2,253 | |||
Accumulated Depreciation | $ (1,289) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
388 Las Vegas NV | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,300 | |||
Buildings and Improvements | 3,950 | |||
Costs Capitalized Subsequent to Acquisition | 5,124 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,300 | |||
Buildings and Improvements | 9,074 | |||
Total | 10,374 | |||
Accumulated Depreciation | $ (2,462) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
389 Las Vegas NV | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,300 | |||
Buildings and Improvements | 5,800 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,300 | |||
Buildings and Improvements | 5,800 | |||
Total | 7,100 | |||
Accumulated Depreciation | $ (2,679) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
390 Fairborn OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 250 | |||
Buildings and Improvements | 4,850 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 250 | |||
Buildings and Improvements | 4,850 | |||
Total | 5,100 | |||
Accumulated Depreciation | $ (2,240) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
391 Georgetown OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 130 | |||
Buildings and Improvements | 4,970 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 130 | |||
Buildings and Improvements | 4,970 | |||
Total | 5,100 | |||
Accumulated Depreciation | $ (2,296) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
392 Port Clinton OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 370 | |||
Buildings and Improvements | 3,630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 370 | |||
Buildings and Improvements | 3,630 | |||
Total | 4,000 | |||
Accumulated Depreciation | $ (1,677) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
393 Springfield OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 213 | |||
Buildings and Improvements | 3,950 | |||
Costs Capitalized Subsequent to Acquisition | 2,113 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 213 | |||
Buildings and Improvements | 6,063 | |||
Total | 6,276 | |||
Accumulated Depreciation | $ (2,194) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
394 Toledo OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 120 | |||
Buildings and Improvements | 5,130 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 120 | |||
Buildings and Improvements | 5,130 | |||
Total | 5,250 | |||
Accumulated Depreciation | $ (2,370) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
395 Versailles OH | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 120 | |||
Buildings and Improvements | 4,980 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 120 | |||
Buildings and Improvements | 4,980 | |||
Total | 5,100 | |||
Accumulated Depreciation | $ (2,300) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
285 Fort Worth TX | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 243 | |||
Buildings and Improvements | 2,036 | |||
Costs Capitalized Subsequent to Acquisition | 269 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 243 | |||
Buildings and Improvements | 2,305 | |||
Total | 2,548 | |||
Accumulated Depreciation | $ (1,464) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
296 Ogden UT | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 250 | |||
Buildings and Improvements | 4,685 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 250 | |||
Buildings and Improvements | 4,432 | |||
Total | 4,682 | |||
Accumulated Depreciation | $ (2,194) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
681 Fishersville VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 751 | |||
Buildings and Improvements | 7,734 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 751 | |||
Buildings and Improvements | 7,220 | |||
Total | 7,971 | |||
Accumulated Depreciation | $ (2,111) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
682 Floyd VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 309 | |||
Buildings and Improvements | 2,263 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 309 | |||
Buildings and Improvements | 1,893 | |||
Total | 2,202 | |||
Accumulated Depreciation | $ (881) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
689 Independence VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 206 | |||
Buildings and Improvements | 8,366 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 206 | |||
Buildings and Improvements | 7,810 | |||
Total | 8,016 | |||
Accumulated Depreciation | $ (2,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
683 Newport News VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 535 | |||
Buildings and Improvements | 6,192 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 535 | |||
Buildings and Improvements | 5,719 | |||
Total | 6,254 | |||
Accumulated Depreciation | $ (1,672) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
684 Roanoke VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 586 | |||
Buildings and Improvements | 7,159 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 586 | |||
Buildings and Improvements | 6,696 | |||
Total | 7,282 | |||
Accumulated Depreciation | $ (1,957) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
685 Staunton VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 422 | |||
Buildings and Improvements | 8,681 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 422 | |||
Buildings and Improvements | 8,136 | |||
Total | 8,558 | |||
Accumulated Depreciation | $ (2,376) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
686 Williamsburg VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 699 | |||
Buildings and Improvements | 4,886 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 699 | |||
Buildings and Improvements | 4,464 | |||
Total | 5,163 | |||
Accumulated Depreciation | $ (1,306) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
690 Windsor VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 319 | |||
Buildings and Improvements | 7,543 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 319 | |||
Buildings and Improvements | 7,018 | |||
Total | 7,337 | |||
Accumulated Depreciation | $ (2,032) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
687 Woodstock VA | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 603 | |||
Buildings and Improvements | 5,394 | |||
Costs Capitalized Subsequent to Acquisition | 8 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 607 | |||
Buildings and Improvements | 4,987 | |||
Total | 5,594 | |||
Accumulated Depreciation | $ (1,459) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2335 Cardiff UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,563 | |||
Buildings and Improvements | 5,272 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,563 | |||
Buildings and Improvements | 5,272 | |||
Total | 6,835 | |||
Accumulated Depreciation | $ (157) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2327 Croydon UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,740 | |||
Buildings and Improvements | 2,718 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,740 | |||
Buildings and Improvements | 2,718 | |||
Total | 4,458 | |||
Accumulated Depreciation | $ (87) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2336 Birmingham UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 737 | |||
Buildings and Improvements | 2,671 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 737 | |||
Buildings and Improvements | 2,671 | |||
Total | 3,408 | |||
Accumulated Depreciation | $ (93) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2320 Bishopbriggs UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 988 | |||
Buildings and Improvements | 4,540 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 988 | |||
Buildings and Improvements | 4,540 | |||
Total | 5,528 | |||
Accumulated Depreciation | $ (134) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2323 Bonnyrigg UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,032 | |||
Buildings and Improvements | 6,799 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,032 | |||
Buildings and Improvements | 6,799 | |||
Total | 7,831 | |||
Accumulated Depreciation | $ (191) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2318 Dumbarton UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,003 | |||
Buildings and Improvements | 4,169 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,003 | |||
Buildings and Improvements | 4,169 | |||
Total | 5,172 | |||
Accumulated Depreciation | $ (128) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2333 Edinburgh UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,940 | |||
Buildings and Improvements | 26,304 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,940 | |||
Buildings and Improvements | 26,304 | |||
Total | 31,244 | |||
Accumulated Depreciation | $ (669) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2328 Forfar UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 929 | |||
Buildings and Improvements | 6,757 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 929 | |||
Buildings and Improvements | 6,757 | |||
Total | 7,686 | |||
Accumulated Depreciation | $ (183) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2330 Glasgow UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,020 | |||
Buildings and Improvements | 7,243 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,020 | |||
Buildings and Improvements | 7,243 | |||
Total | 9,263 | |||
Accumulated Depreciation | $ (224) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2307 Hyde UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,519 | |||
Buildings and Improvements | 5,607 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,519 | |||
Buildings and Improvements | 5,607 | |||
Total | 7,126 | |||
Accumulated Depreciation | $ (173) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2324 Lewisham UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,094 | |||
Buildings and Improvements | 7,752 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,094 | |||
Buildings and Improvements | 7,752 | |||
Total | 9,846 | |||
Accumulated Depreciation | $ (215) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2332 Linlithgow UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,578 | |||
Buildings and Improvements | 8,102 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,578 | |||
Buildings and Improvements | 8,102 | |||
Total | 9,680 | |||
Accumulated Depreciation | $ (222) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2331 Paisley UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,342 | |||
Buildings and Improvements | 4,354 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,342 | |||
Buildings and Improvements | 4,354 | |||
Total | 5,696 | |||
Accumulated Depreciation | $ (131) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2308 Prescot UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 590 | |||
Buildings and Improvements | 2,108 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 590 | |||
Buildings and Improvements | 2,108 | |||
Total | 2,698 | |||
Accumulated Depreciation | $ (74) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2319 Sheffield UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 811 | |||
Buildings and Improvements | 2,948 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 811 | |||
Buildings and Improvements | 2,948 | |||
Total | 3,759 | |||
Accumulated Depreciation | $ (90) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2315 Stalybridge UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 605 | |||
Buildings and Improvements | 2,056 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 605 | |||
Buildings and Improvements | 2,056 | |||
Total | 2,661 | |||
Accumulated Depreciation | $ (63) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2325 Stirling UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 988 | |||
Buildings and Improvements | 5,372 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 988 | |||
Buildings and Improvements | 5,372 | |||
Total | 6,360 | |||
Accumulated Depreciation | $ (145) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2329 Stirling UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,209 | |||
Buildings and Improvements | 4,405 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,209 | |||
Buildings and Improvements | 4,405 | |||
Total | 5,614 | |||
Accumulated Depreciation | $ (137) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2337 Wigan UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 590 | |||
Buildings and Improvements | 1,983 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 590 | |||
Buildings and Improvements | 1,983 | |||
Total | 2,573 | |||
Accumulated Depreciation | $ (72) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2338 Wigan UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 516 | |||
Buildings and Improvements | 4,129 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 516 | |||
Buildings and Improvements | 4,129 | |||
Total | 4,645 | |||
Accumulated Depreciation | $ (117) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2334 Wotton under Edge UK | Post-acute/skilled | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 693 | |||
Buildings and Improvements | 2,714 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 693 | |||
Buildings and Improvements | 2,714 | |||
Total | 3,407 | |||
Accumulated Depreciation | $ (96) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1482 Brisbane CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 50,989 | |||
Buildings and Improvements | 1,789 | |||
Costs Capitalized Subsequent to Acquisition | 39,456 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 50,989 | |||
Buildings and Improvements | 41,242 | |||
Total | 92,231 | |||
1522 Carlsbad CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 23,475 | |||
Costs Capitalized Subsequent to Acquisition | 2,826 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 23,475 | |||
Buildings and Improvements | 2,826 | |||
Total | 26,301 | |||
1401 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 900 | |||
Buildings and Improvements | 7,100 | |||
Costs Capitalized Subsequent to Acquisition | 915 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 900 | |||
Buildings and Improvements | 8,015 | |||
Total | 8,915 | |||
Accumulated Depreciation | $ (2,012) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1402 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,500 | |||
Buildings and Improvements | 6,400 | |||
Costs Capitalized Subsequent to Acquisition | 3,682 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,719 | |||
Buildings and Improvements | 9,863 | |||
Total | 11,582 | |||
Accumulated Depreciation | $ (3,076) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1403 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,900 | |||
Buildings and Improvements | 7,100 | |||
Costs Capitalized Subsequent to Acquisition | 1,358 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,900 | |||
Buildings and Improvements | 8,205 | |||
Total | 10,105 | |||
Accumulated Depreciation | $ (1,662) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1404 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,200 | |||
Buildings and Improvements | 17,200 | |||
Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,200 | |||
Buildings and Improvements | 17,212 | |||
Total | 19,412 | |||
Accumulated Depreciation | $ (3,623) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1405 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,000 | |||
Buildings and Improvements | 3,200 | |||
Costs Capitalized Subsequent to Acquisition | 7,478 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,000 | |||
Buildings and Improvements | 10,678 | |||
Total | 11,678 | |||
Accumulated Depreciation | $ (4,697) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1549 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,006 | |||
Buildings and Improvements | 4,259 | |||
Costs Capitalized Subsequent to Acquisition | 2,744 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,055 | |||
Buildings and Improvements | 6,835 | |||
Total | 7,890 | |||
Accumulated Depreciation | $ (2,489) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1550 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 677 | |||
Buildings and Improvements | 2,761 | |||
Costs Capitalized Subsequent to Acquisition | 5,570 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 710 | |||
Buildings and Improvements | 8,243 | |||
Total | 8,953 | |||
Accumulated Depreciation | $ (3,535) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1551 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 661 | |||
Buildings and Improvements | 1,995 | |||
Costs Capitalized Subsequent to Acquisition | 4,258 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 693 | |||
Buildings and Improvements | 6,221 | |||
Total | 6,914 | |||
Accumulated Depreciation | $ (2,310) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1552 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,187 | |||
Buildings and Improvements | 7,139 | |||
Costs Capitalized Subsequent to Acquisition | 1,346 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,222 | |||
Buildings and Improvements | 8,148 | |||
Total | 9,370 | |||
Accumulated Depreciation | $ (2,446) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1553 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,189 | |||
Buildings and Improvements | 9,465 | |||
Costs Capitalized Subsequent to Acquisition | 3,982 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,225 | |||
Buildings and Improvements | 13,411 | |||
Total | 14,636 | |||
Accumulated Depreciation | $ (3,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1554 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,246 | |||
Buildings and Improvements | 5,179 | |||
Costs Capitalized Subsequent to Acquisition | 1,867 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,283 | |||
Buildings and Improvements | 6,525 | |||
Total | 7,808 | |||
Accumulated Depreciation | $ (2,475) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1555 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,521 | |||
Buildings and Improvements | 13,546 | |||
Costs Capitalized Subsequent to Acquisition | 5,913 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,566 | |||
Buildings and Improvements | 19,414 | |||
Total | 20,980 | |||
Accumulated Depreciation | $ (4,950) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1556 Hayward CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,212 | |||
Buildings and Improvements | 5,120 | |||
Costs Capitalized Subsequent to Acquisition | 3,049 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,249 | |||
Buildings and Improvements | 7,795 | |||
Total | 9,044 | |||
Accumulated Depreciation | $ (3,466) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
1424 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,600 | |||
Buildings and Improvements | 25,283 | |||
Costs Capitalized Subsequent to Acquisition | 7,356 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,719 | |||
Buildings and Improvements | 30,596 | |||
Total | 40,315 | |||
Accumulated Depreciation | $ (6,370) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1425 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,200 | |||
Buildings and Improvements | 19,883 | |||
Costs Capitalized Subsequent to Acquisition | 125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,276 | |||
Buildings and Improvements | 19,931 | |||
Total | 26,207 | |||
Accumulated Depreciation | $ (4,247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1426 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,200 | |||
Buildings and Improvements | 12,412 | |||
Costs Capitalized Subsequent to Acquisition | 4,784 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,291 | |||
Buildings and Improvements | 17,105 | |||
Total | 24,396 | |||
Accumulated Depreciation | $ (6,555) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 27 years | |||
1427 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,700 | |||
Buildings and Improvements | 16,983 | |||
Costs Capitalized Subsequent to Acquisition | 4,342 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,746 | |||
Buildings and Improvements | 20,795 | |||
Total | 29,541 | |||
Accumulated Depreciation | $ (5,513) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1949 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,686 | |||
Buildings and Improvements | 11,045 | |||
Costs Capitalized Subsequent to Acquisition | 608 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,686 | |||
Buildings and Improvements | 11,323 | |||
Total | 14,009 | |||
Accumulated Depreciation | $ (1,889) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2229 La Jolla CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,753 | |||
Buildings and Improvements | 32,528 | |||
Costs Capitalized Subsequent to Acquisition | 2,614 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,753 | |||
Buildings and Improvements | 35,143 | |||
Total | 43,896 | |||
Accumulated Depreciation | $ (1,451) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1488 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,300 | |||
Buildings and Improvements | 25,410 | |||
Costs Capitalized Subsequent to Acquisition | 1,901 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,567 | |||
Buildings and Improvements | 27,044 | |||
Total | 34,611 | |||
Accumulated Depreciation | $ (5,975) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1489 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,500 | |||
Buildings and Improvements | 22,800 | |||
Costs Capitalized Subsequent to Acquisition | 1,866 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,500 | |||
Buildings and Improvements | 24,666 | |||
Total | 31,166 | |||
Accumulated Depreciation | $ (5,501) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1490 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,800 | |||
Buildings and Improvements | 9,500 | |||
Costs Capitalized Subsequent to Acquisition | 442 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,800 | |||
Buildings and Improvements | 9,942 | |||
Total | 14,742 | |||
Accumulated Depreciation | $ (2,207) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1491 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,200 | |||
Buildings and Improvements | 8,400 | |||
Costs Capitalized Subsequent to Acquisition | 1,249 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,209 | |||
Buildings and Improvements | 8,998 | |||
Total | 13,207 | |||
Accumulated Depreciation | $ (1,951) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1492 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,600 | |||
Buildings and Improvements | 9,700 | |||
Costs Capitalized Subsequent to Acquisition | 730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,600 | |||
Buildings and Improvements | 9,703 | |||
Total | 13,303 | |||
Accumulated Depreciation | $ (2,042) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1493 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,500 | |||
Buildings and Improvements | 16,300 | |||
Costs Capitalized Subsequent to Acquisition | 1,904 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,500 | |||
Buildings and Improvements | 17,603 | |||
Total | 25,103 | |||
Accumulated Depreciation | $ (3,891) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1494 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,800 | |||
Buildings and Improvements | 24,000 | |||
Costs Capitalized Subsequent to Acquisition | 203 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,800 | |||
Buildings and Improvements | 24,203 | |||
Total | 34,003 | |||
Accumulated Depreciation | $ (5,136) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1495 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,900 | |||
Buildings and Improvements | 17,800 | |||
Costs Capitalized Subsequent to Acquisition | 3,245 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,900 | |||
Buildings and Improvements | 21,045 | |||
Total | 27,945 | |||
Accumulated Depreciation | $ (4,793) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1496 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,000 | |||
Buildings and Improvements | 17,000 | |||
Costs Capitalized Subsequent to Acquisition | 6,364 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,000 | |||
Buildings and Improvements | 23,364 | |||
Total | 30,364 | |||
Accumulated Depreciation | $ (9,132) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1497 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 14,100 | |||
Buildings and Improvements | 31,002 | |||
Costs Capitalized Subsequent to Acquisition | 10,111 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 14,100 | |||
Buildings and Improvements | 41,113 | |||
Total | 55,213 | |||
Accumulated Depreciation | $ (15,042) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1498 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,100 | |||
Buildings and Improvements | 25,800 | |||
Costs Capitalized Subsequent to Acquisition | 8,101 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,100 | |||
Buildings and Improvements | 33,901 | |||
Total | 41,001 | |||
Accumulated Depreciation | $ (11,688) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2017 Mountain View CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 20,350 | |||
Costs Capitalized Subsequent to Acquisition | 1,007 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 21,255 | |||
Total | 21,255 | |||
Accumulated Depreciation | $ (2,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1470 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,826 | |||
Buildings and Improvements | 12,200 | |||
Costs Capitalized Subsequent to Acquisition | 6,046 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,826 | |||
Buildings and Improvements | 18,246 | |||
Total | 24,072 | |||
Accumulated Depreciation | $ (7,570) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1471 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,978 | |||
Buildings and Improvements | 14,200 | |||
Costs Capitalized Subsequent to Acquisition | 4,253 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,978 | |||
Buildings and Improvements | 18,453 | |||
Total | 24,431 | |||
Accumulated Depreciation | $ (6,304) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1472 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,654 | |||
Costs Capitalized Subsequent to Acquisition | 11,934 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,654 | |||
Buildings and Improvements | 11,934 | |||
Total | 20,588 | |||
Accumulated Depreciation | $ (474) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1473 Poway, CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 17,146 | |||
Buildings and Improvements | 2,405 | |||
Costs Capitalized Subsequent to Acquisition | 2,236 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 17,146 | |||
Buildings and Improvements | 4,641 | |||
Total | 21,787 | |||
1477 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 29,943 | |||
Buildings and Improvements | 2,475 | |||
Costs Capitalized Subsequent to Acquisition | 17,868 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 29,943 | |||
Buildings and Improvements | 20,343 | |||
Total | 50,286 | |||
1478 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 6,700 | |||
Buildings and Improvements | 14,400 | |||
Costs Capitalized Subsequent to Acquisition | 6,145 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,700 | |||
Buildings and Improvements | 14,400 | |||
Total | 21,100 | |||
Accumulated Depreciation | $ (3,030) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1499 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,400 | |||
Buildings and Improvements | 5,500 | |||
Costs Capitalized Subsequent to Acquisition | 2,265 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,407 | |||
Buildings and Improvements | 7,226 | |||
Total | 10,633 | |||
Accumulated Depreciation | $ (1,864) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1500 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,500 | |||
Buildings and Improvements | 4,100 | |||
Costs Capitalized Subsequent to Acquisition | 1,220 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,506 | |||
Buildings and Improvements | 4,563 | |||
Total | 7,069 | |||
Accumulated Depreciation | $ (1,209) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1501 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,600 | |||
Buildings and Improvements | 4,600 | |||
Costs Capitalized Subsequent to Acquisition | 860 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,607 | |||
Buildings and Improvements | 5,453 | |||
Total | 9,060 | |||
Accumulated Depreciation | $ (1,714) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1502 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,100 | |||
Buildings and Improvements | 5,100 | |||
Costs Capitalized Subsequent to Acquisition | 843 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,107 | |||
Buildings and Improvements | 5,690 | |||
Total | 8,797 | |||
Accumulated Depreciation | $ (1,530) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
1503 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,800 | |||
Buildings and Improvements | 17,300 | |||
Costs Capitalized Subsequent to Acquisition | 3,298 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,818 | |||
Buildings and Improvements | 20,581 | |||
Total | 25,399 | |||
Accumulated Depreciation | $ (4,790) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
1504 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,400 | |||
Buildings and Improvements | 15,500 | |||
Costs Capitalized Subsequent to Acquisition | 949 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,418 | |||
Buildings and Improvements | 16,431 | |||
Total | 21,849 | |||
Accumulated Depreciation | $ (3,414) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
1505 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,000 | |||
Buildings and Improvements | 3,500 | |||
Costs Capitalized Subsequent to Acquisition | 869 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,006 | |||
Buildings and Improvements | 4,363 | |||
Total | 7,369 | |||
Accumulated Depreciation | $ (1,457) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1506 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,000 | |||
Buildings and Improvements | 14,300 | |||
Costs Capitalized Subsequent to Acquisition | 3,871 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,018 | |||
Buildings and Improvements | 17,545 | |||
Total | 23,563 | |||
Accumulated Depreciation | $ (3,626) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1507 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,900 | |||
Buildings and Improvements | 12,800 | |||
Costs Capitalized Subsequent to Acquisition | 13,559 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,912 | |||
Buildings and Improvements | 26,347 | |||
Total | 28,259 | |||
Accumulated Depreciation | $ (3,737) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
1508 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,700 | |||
Buildings and Improvements | 11,300 | |||
Costs Capitalized Subsequent to Acquisition | 12,120 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,712 | |||
Buildings and Improvements | 23,409 | |||
Total | 26,121 | |||
Accumulated Depreciation | $ (3,503) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
1509 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,700 | |||
Buildings and Improvements | 10,900 | |||
Costs Capitalized Subsequent to Acquisition | 9,122 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,712 | |||
Buildings and Improvements | 19,540 | |||
Total | 22,252 | |||
Accumulated Depreciation | $ (4,606) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1510 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,200 | |||
Buildings and Improvements | 12,000 | |||
Costs Capitalized Subsequent to Acquisition | 5,418 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,212 | |||
Buildings and Improvements | 17,407 | |||
Total | 19,619 | |||
Accumulated Depreciation | $ (5,412) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
1511 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,600 | |||
Buildings and Improvements | 9,300 | |||
Costs Capitalized Subsequent to Acquisition | 1,822 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,612 | |||
Buildings and Improvements | 10,555 | |||
Total | 13,167 | |||
Accumulated Depreciation | $ (2,143) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 26 years | |||
1512 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,300 | |||
Buildings and Improvements | 18,000 | |||
Costs Capitalized Subsequent to Acquisition | 12,336 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,300 | |||
Buildings and Improvements | 30,336 | |||
Total | 33,636 | |||
Accumulated Depreciation | $ (4,836) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1513 Redwood City CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,300 | |||
Buildings and Improvements | 17,900 | |||
Costs Capitalized Subsequent to Acquisition | 14,629 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,300 | |||
Buildings and Improvements | 32,529 | |||
Total | 35,829 | |||
Accumulated Depreciation | $ (4,788) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
679 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,872 | |||
Buildings and Improvements | 34,617 | |||
Costs Capitalized Subsequent to Acquisition | 18,167 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,272 | |||
Buildings and Improvements | 51,638 | |||
Total | 59,910 | |||
Accumulated Depreciation | $ (16,156) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
837 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,630 | |||
Buildings and Improvements | 2,029 | |||
Costs Capitalized Subsequent to Acquisition | 8,967 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,630 | |||
Buildings and Improvements | 10,996 | |||
Total | 15,626 | |||
Accumulated Depreciation | $ (4,400) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
838 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,040 | |||
Buildings and Improvements | 902 | |||
Costs Capitalized Subsequent to Acquisition | 4,975 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,040 | |||
Buildings and Improvements | 5,878 | |||
Total | 7,918 | |||
Accumulated Depreciation | $ (1,446) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
839 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,940 | |||
Buildings and Improvements | 3,184 | |||
Costs Capitalized Subsequent to Acquisition | 4,860 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,951 | |||
Buildings and Improvements | 4,813 | |||
Total | 8,764 | |||
Accumulated Depreciation | $ (1,076) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
840 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,690 | |||
Buildings and Improvements | 4,579 | |||
Costs Capitalized Subsequent to Acquisition | 711 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,703 | |||
Buildings and Improvements | 4,851 | |||
Total | 10,554 | |||
Accumulated Depreciation | $ (1,219) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1418 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,700 | |||
Buildings and Improvements | 31,243 | |||
Costs Capitalized Subsequent to Acquisition | 6,403 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,700 | |||
Buildings and Improvements | 37,647 | |||
Total | 49,347 | |||
Accumulated Depreciation | $ (9,954) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1420 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,524 | |||
Costs Capitalized Subsequent to Acquisition | 4,341 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,524 | |||
Buildings and Improvements | 4,340 | |||
Total | 10,864 | |||
1421 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 7,000 | |||
Buildings and Improvements | 33,779 | |||
Costs Capitalized Subsequent to Acquisition | 683 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,000 | |||
Buildings and Improvements | 34,462 | |||
Total | 41,462 | |||
Accumulated Depreciation | $ (7,108) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1422 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,179 | |||
Buildings and Improvements | 3,687 | |||
Costs Capitalized Subsequent to Acquisition | 934 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,184 | |||
Buildings and Improvements | 4,615 | |||
Total | 11,799 | |||
Accumulated Depreciation | $ (1,248) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1423 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,400 | |||
Buildings and Improvements | 33,144 | |||
Costs Capitalized Subsequent to Acquisition | 18 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,400 | |||
Buildings and Improvements | 33,162 | |||
Total | 41,562 | |||
Accumulated Depreciation | $ (6,976) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1514 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,200 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,200 | |||
Total | 5,200 | |||
1558 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 7,740 | |||
Buildings and Improvements | 22,654 | |||
Costs Capitalized Subsequent to Acquisition | 2,174 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,888 | |||
Buildings and Improvements | 24,530 | |||
Total | 32,418 | |||
Accumulated Depreciation | $ (5,586) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
1947 San Diego CA | Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 11,528 | |||
Initial Cost to Company | ||||
Land | 2,581 | |||
Buildings and Improvements | 10,534 | |||
Costs Capitalized Subsequent to Acquisition | 3,207 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,581 | |||
Buildings and Improvements | 13,741 | |||
Total | 16,322 | |||
Accumulated Depreciation | $ (1,840) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1948 San Diego CA | Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 23,797 | |||
Initial Cost to Company | ||||
Land | 5,879 | |||
Buildings and Improvements | 25,305 | |||
Costs Capitalized Subsequent to Acquisition | 2,417 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,879 | |||
Buildings and Improvements | 27,718 | |||
Total | 33,597 | |||
Accumulated Depreciation | $ (4,942) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1950 San Diego CA | Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 802 | |||
Initial Cost to Company | ||||
Land | 884 | |||
Buildings and Improvements | 2,796 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 884 | |||
Buildings and Improvements | 2,796 | |||
Total | 3,680 | |||
Accumulated Depreciation | $ (466) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2197 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,621 | |||
Buildings and Improvements | 3,913 | |||
Costs Capitalized Subsequent to Acquisition | 3,750 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,626 | |||
Buildings and Improvements | 7,657 | |||
Total | 15,283 | |||
Accumulated Depreciation | $ (2,932) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
1407 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 28,600 | |||
Buildings and Improvements | 48,700 | |||
Costs Capitalized Subsequent to Acquisition | 14,739 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 28,600 | |||
Buildings and Improvements | 59,820 | |||
Total | 88,420 | |||
Accumulated Depreciation | $ (13,782) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1408 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,000 | |||
Buildings and Improvements | 17,800 | |||
Costs Capitalized Subsequent to Acquisition | 1,076 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,000 | |||
Buildings and Improvements | 18,877 | |||
Total | 27,877 | |||
Accumulated Depreciation | $ (4,273) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1409 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 18,000 | |||
Buildings and Improvements | 38,043 | |||
Costs Capitalized Subsequent to Acquisition | 4,235 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 18,000 | |||
Buildings and Improvements | 42,279 | |||
Total | 60,279 | |||
Accumulated Depreciation | $ (8,071) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1410 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,900 | |||
Buildings and Improvements | 18,100 | |||
Costs Capitalized Subsequent to Acquisition | 157 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,900 | |||
Buildings and Improvements | 18,257 | |||
Total | 23,157 | |||
Accumulated Depreciation | $ (3,857) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1411 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,000 | |||
Buildings and Improvements | 27,700 | |||
Costs Capitalized Subsequent to Acquisition | 313 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,000 | |||
Buildings and Improvements | 28,013 | |||
Total | 36,013 | |||
Accumulated Depreciation | $ (5,872) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1412 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,100 | |||
Buildings and Improvements | 22,521 | |||
Costs Capitalized Subsequent to Acquisition | 2,011 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,100 | |||
Buildings and Improvements | 24,532 | |||
Total | 34,632 | |||
Accumulated Depreciation | $ (4,905) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1413 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,000 | |||
Buildings and Improvements | 28,299 | |||
Costs Capitalized Subsequent to Acquisition | 252 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,000 | |||
Buildings and Improvements | 28,550 | |||
Total | 36,550 | |||
Accumulated Depreciation | $ (5,986) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1414 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,700 | |||
Buildings and Improvements | 20,800 | |||
Costs Capitalized Subsequent to Acquisition | 1,257 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,700 | |||
Buildings and Improvements | 22,056 | |||
Total | 25,756 | |||
Accumulated Depreciation | $ (4,518) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1430 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,700 | |||
Buildings and Improvements | 23,621 | |||
Costs Capitalized Subsequent to Acquisition | 1,233 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,700 | |||
Buildings and Improvements | 24,854 | |||
Total | 35,554 | |||
Accumulated Depreciation | $ (5,050) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1431 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,000 | |||
Buildings and Improvements | 15,500 | |||
Costs Capitalized Subsequent to Acquisition | 195 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,000 | |||
Buildings and Improvements | 15,695 | |||
Total | 22,695 | |||
Accumulated Depreciation | $ (3,283) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1435 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 13,800 | |||
Buildings and Improvements | 42,500 | |||
Costs Capitalized Subsequent to Acquisition | 33,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,800 | |||
Buildings and Improvements | 75,550 | |||
Total | 89,350 | |||
Accumulated Depreciation | $ (13,906) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1436 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 14,500 | |||
Buildings and Improvements | 45,300 | |||
Costs Capitalized Subsequent to Acquisition | 34,087 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 14,500 | |||
Buildings and Improvements | 79,387 | |||
Total | 93,887 | |||
Accumulated Depreciation | $ (14,547) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1437 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,400 | |||
Buildings and Improvements | 24,800 | |||
Costs Capitalized Subsequent to Acquisition | 45,116 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,400 | |||
Buildings and Improvements | 69,917 | |||
Total | 79,317 | |||
Accumulated Depreciation | $ (8,763) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1439 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,900 | |||
Buildings and Improvements | 68,848 | |||
Costs Capitalized Subsequent to Acquisition | 112 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,900 | |||
Buildings and Improvements | 68,960 | |||
Total | 80,860 | |||
Accumulated Depreciation | $ (14,498) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1440 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,000 | |||
Buildings and Improvements | 57,954 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,000 | |||
Buildings and Improvements | 57,954 | |||
Total | 67,954 | |||
Accumulated Depreciation | $ (12,195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1441 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,300 | |||
Buildings and Improvements | 43,549 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,300 | |||
Buildings and Improvements | 43,549 | |||
Total | 52,849 | |||
Accumulated Depreciation | $ (9,163) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1442 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,000 | |||
Buildings and Improvements | 47,289 | |||
Costs Capitalized Subsequent to Acquisition | 81 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,000 | |||
Buildings and Improvements | 47,370 | |||
Total | 58,370 | |||
Accumulated Depreciation | $ (9,993) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1443 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 13,200 | |||
Buildings and Improvements | 60,932 | |||
Costs Capitalized Subsequent to Acquisition | 1,158 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,200 | |||
Buildings and Improvements | 62,090 | |||
Total | 75,290 | |||
Accumulated Depreciation | $ (12,381) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1444 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,500 | |||
Buildings and Improvements | 33,776 | |||
Costs Capitalized Subsequent to Acquisition | 352 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,500 | |||
Buildings and Improvements | 34,127 | |||
Total | 44,627 | |||
Accumulated Depreciation | $ (7,237) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1445 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,600 | |||
Buildings and Improvements | 34,083 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,600 | |||
Buildings and Improvements | 34,083 | |||
Total | 44,683 | |||
Accumulated Depreciation | $ (7,172) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1448 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 14,100 | |||
Buildings and Improvements | 71,344 | |||
Costs Capitalized Subsequent to Acquisition | 1,051 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 14,100 | |||
Buildings and Improvements | 72,395 | |||
Total | 86,495 | |||
Accumulated Depreciation | $ (15,022) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1449 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 12,800 | |||
Buildings and Improvements | 63,600 | |||
Costs Capitalized Subsequent to Acquisition | 472 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 12,800 | |||
Buildings and Improvements | 64,072 | |||
Total | 76,872 | |||
Accumulated Depreciation | $ (13,572) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1450 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,200 | |||
Buildings and Improvements | 79,222 | |||
Costs Capitalized Subsequent to Acquisition | 20 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,200 | |||
Buildings and Improvements | 79,242 | |||
Total | 90,442 | |||
Accumulated Depreciation | $ (16,673) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1451 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,200 | |||
Buildings and Improvements | 50,856 | |||
Costs Capitalized Subsequent to Acquisition | 1,075 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,200 | |||
Buildings and Improvements | 51,931 | |||
Total | 59,131 | |||
Accumulated Depreciation | $ (10,713) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1452 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 14,400 | |||
Buildings and Improvements | 101,362 | |||
Costs Capitalized Subsequent to Acquisition | (115) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 14,400 | |||
Buildings and Improvements | 101,247 | |||
Total | 115,647 | |||
Accumulated Depreciation | $ (21,294) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1454 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 11,100 | |||
Buildings and Improvements | 47,738 | |||
Costs Capitalized Subsequent to Acquisition | 9,369 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,100 | |||
Buildings and Improvements | 57,108 | |||
Total | 68,208 | |||
Accumulated Depreciation | $ (14,671) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1455 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,700 | |||
Buildings and Improvements | 41,937 | |||
Costs Capitalized Subsequent to Acquisition | 5,958 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,261 | |||
Buildings and Improvements | 47,334 | |||
Total | 57,595 | |||
Accumulated Depreciation | $ (11,525) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1456 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,300 | |||
Buildings and Improvements | 22,900 | |||
Costs Capitalized Subsequent to Acquisition | 8,196 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,300 | |||
Buildings and Improvements | 31,096 | |||
Total | 37,396 | |||
Accumulated Depreciation | $ (8,150) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1458 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,900 | |||
Buildings and Improvements | 20,900 | |||
Costs Capitalized Subsequent to Acquisition | 8,264 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,909 | |||
Buildings and Improvements | 25,125 | |||
Total | 36,034 | |||
Accumulated Depreciation | $ (5,461) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1459 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,600 | |||
Buildings and Improvements | 100 | |||
Costs Capitalized Subsequent to Acquisition | 208 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,600 | |||
Buildings and Improvements | 309 | |||
Total | 3,909 | |||
Accumulated Depreciation | (94) | |||
1460 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 2,300 | |||
Buildings and Improvements | 100 | |||
Costs Capitalized Subsequent to Acquisition | 108 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,300 | |||
Buildings and Improvements | 208 | |||
Total | 2,508 | |||
Accumulated Depreciation | (100) | |||
1461 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 3,900 | |||
Buildings and Improvements | 200 | |||
Costs Capitalized Subsequent to Acquisition | 202 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,900 | |||
Buildings and Improvements | 402 | |||
Total | 4,302 | |||
Accumulated Depreciation | (200) | |||
1462 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 7,117 | |||
Buildings and Improvements | 600 | |||
Costs Capitalized Subsequent to Acquisition | 4,911 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,117 | |||
Buildings and Improvements | 5,163 | |||
Total | 12,280 | |||
Accumulated Depreciation | $ (1,543) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1463 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,381 | |||
Buildings and Improvements | 2,300 | |||
Costs Capitalized Subsequent to Acquisition | 17,849 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,381 | |||
Buildings and Improvements | 20,149 | |||
Total | 30,530 | |||
Accumulated Depreciation | $ (3,573) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1464 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,403 | |||
Buildings and Improvements | 700 | |||
Costs Capitalized Subsequent to Acquisition | 11,638 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,403 | |||
Buildings and Improvements | 12,338 | |||
Total | 19,741 | |||
Accumulated Depreciation | $ (3,149) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1468 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 10,100 | |||
Buildings and Improvements | 24,013 | |||
Costs Capitalized Subsequent to Acquisition | 4,774 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,100 | |||
Buildings and Improvements | 26,642 | |||
Total | 36,742 | |||
Accumulated Depreciation | $ (5,720) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1480 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 32,210 | |||
Buildings and Improvements | 3,110 | |||
Costs Capitalized Subsequent to Acquisition | 11,196 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 32,210 | |||
Buildings and Improvements | 14,306 | |||
Total | 46,516 | |||
1559 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 5,666 | |||
Buildings and Improvements | 5,773 | |||
Costs Capitalized Subsequent to Acquisition | 12,958 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,695 | |||
Buildings and Improvements | 18,633 | |||
Total | 24,328 | |||
Accumulated Depreciation | $ (6,467) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 5 years | |||
1560 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,204 | |||
Buildings and Improvements | 1,293 | |||
Costs Capitalized Subsequent to Acquisition | 454 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,210 | |||
Buildings and Improvements | 1,726 | |||
Total | 2,936 | |||
Accumulated Depreciation | $ (1,329) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 5 years | |||
1983 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 16,493 | |||
Costs Capitalized Subsequent to Acquisition | 76,433 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 16,493 | |||
Buildings and Improvements | 76,433 | |||
Total | 92,926 | |||
1985 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 13,416 | |||
Costs Capitalized Subsequent to Acquisition | 7,277 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,416 | |||
Buildings and Improvements | 7,277 | |||
Total | 20,693 | |||
1987 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 27,833 | |||
Costs Capitalized Subsequent to Acquisition | 7,429 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 27,833 | |||
Buildings and Improvements | 7,429 | |||
Total | 35,262 | |||
2553 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 2,897 | |||
Buildings and Improvements | 8,691 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,897 | |||
Buildings and Improvements | 8,691 | |||
Total | 11,588 | |||
Accumulated Depreciation | $ (21) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2554 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 995 | |||
Buildings and Improvements | 2,754 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 995 | |||
Buildings and Improvements | 2,754 | |||
Total | 3,749 | |||
Accumulated Depreciation | $ (7) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2555 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,202 | |||
Buildings and Improvements | 10,776 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,202 | |||
Buildings and Improvements | 10,776 | |||
Total | 12,978 | |||
Accumulated Depreciation | $ (26) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2556 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,962 | |||
Buildings and Improvements | 15,108 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,962 | |||
Buildings and Improvements | 15,108 | |||
Total | 18,070 | |||
Accumulated Depreciation | $ (36) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2557 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,453 | |||
Buildings and Improvements | 13,063 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,453 | |||
Buildings and Improvements | 13,063 | |||
Total | 15,516 | |||
Accumulated Depreciation | $ (31) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2558 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,163 | |||
Buildings and Improvements | 5,925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,163 | |||
Buildings and Improvements | 5,925 | |||
Total | 7,088 | |||
Accumulated Depreciation | $ (14) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1604 Cambridge MA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,389 | |||
Buildings and Improvements | 10,630 | |||
Costs Capitalized Subsequent to Acquisition | 29,587 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,389 | |||
Buildings and Improvements | 40,201 | |||
Total | 48,590 | |||
Accumulated Depreciation | $ (4,940) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2011 Durham NC | Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,389 | |||
Initial Cost to Company | ||||
Land | 448 | |||
Buildings and Improvements | 6,152 | |||
Costs Capitalized Subsequent to Acquisition | 21,379 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 448 | |||
Buildings and Improvements | 27,494 | |||
Total | 27,942 | |||
Accumulated Depreciation | $ (2,418) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2030 Durham NC | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,920 | |||
Buildings and Improvements | 5,661 | |||
Costs Capitalized Subsequent to Acquisition | 33,871 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,920 | |||
Buildings and Improvements | 39,533 | |||
Total | 41,453 | |||
Accumulated Depreciation | $ (3,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
9999 Denton TX | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 100 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 100 | |||
Total | 100 | |||
461 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 500 | |||
Buildings and Improvements | 8,548 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 500 | |||
Buildings and Improvements | 8,548 | |||
Total | 9,048 | |||
Accumulated Depreciation | $ (3,678) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
462 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 890 | |||
Buildings and Improvements | 15,623 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 890 | |||
Buildings and Improvements | 15,624 | |||
Total | 16,514 | |||
Accumulated Depreciation | $ (5,917) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
463 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 190 | |||
Buildings and Improvements | 9,875 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 190 | |||
Buildings and Improvements | 9,875 | |||
Total | 10,065 | |||
Accumulated Depreciation | $ (3,213) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
464 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 630 | |||
Buildings and Improvements | 6,921 | |||
Costs Capitalized Subsequent to Acquisition | 62 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 630 | |||
Buildings and Improvements | 6,984 | |||
Total | 7,614 | |||
Accumulated Depreciation | $ (2,718) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
465 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 125 | |||
Buildings and Improvements | 6,368 | |||
Costs Capitalized Subsequent to Acquisition | 68 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 125 | |||
Buildings and Improvements | 6,436 | |||
Total | 6,561 | |||
Accumulated Depreciation | $ (2,083) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
466 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 14,614 | |||
Costs Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 14,621 | |||
Total | 14,621 | |||
Accumulated Depreciation | $ (4,217) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
507 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 280 | |||
Buildings and Improvements | 4,345 | |||
Costs Capitalized Subsequent to Acquisition | 226 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 280 | |||
Buildings and Improvements | 4,572 | |||
Total | 4,852 | |||
Accumulated Depreciation | $ (1,425) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
537 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,517 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 6,517 | |||
Total | 6,517 | |||
Accumulated Depreciation | $ (2,092) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
799 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 14,600 | |||
Costs Capitalized Subsequent to Acquisition | 90 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 14,690 | |||
Total | 14,690 | |||
Accumulated Depreciation | $ (3,241) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1593 Salt Lake City UT | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 23,998 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 23,998 | |||
Total | 23,998 | |||
Accumulated Depreciation | $ (3,939) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
638 Anchorage AK | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,456 | |||
Buildings and Improvements | 10,650 | |||
Costs Capitalized Subsequent to Acquisition | 10,250 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,456 | |||
Buildings and Improvements | 20,847 | |||
Total | 22,303 | |||
Accumulated Depreciation | (3,793) | |||
520 Chandler AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 3,669 | |||
Buildings and Improvements | 13,503 | |||
Costs Capitalized Subsequent to Acquisition | 2,368 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,669 | |||
Buildings and Improvements | 15,581 | |||
Total | 19,250 | |||
Accumulated Depreciation | $ (4,785) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2040 Mesa AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 17,314 | |||
Costs Capitalized Subsequent to Acquisition | 483 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 17,780 | |||
Total | 17,780 | |||
Accumulated Depreciation | $ (1,538) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
468 Oro Valley AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,050 | |||
Buildings and Improvements | 6,774 | |||
Costs Capitalized Subsequent to Acquisition | 918 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 7,117 | |||
Total | 8,167 | |||
Accumulated Depreciation | $ (2,389) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
356 Phoenix AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 780 | |||
Buildings and Improvements | 3,199 | |||
Costs Capitalized Subsequent to Acquisition | 1,160 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 780 | |||
Buildings and Improvements | 3,633 | |||
Total | 4,413 | |||
Accumulated Depreciation | $ (1,756) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 32 years | |||
470 Phoenix AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 280 | |||
Buildings and Improvements | 877 | |||
Costs Capitalized Subsequent to Acquisition | 104 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 280 | |||
Buildings and Improvements | 970 | |||
Total | 1,250 | |||
Accumulated Depreciation | $ (307) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
1066 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,115 | |||
Buildings and Improvements | 14,064 | |||
Costs Capitalized Subsequent to Acquisition | 3,234 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,791 | |||
Buildings and Improvements | 16,972 | |||
Total | 21,763 | |||
Accumulated Depreciation | $ (4,344) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2021 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,312 | |||
Costs Capitalized Subsequent to Acquisition | 1,196 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 13,461 | |||
Total | 13,461 | |||
Accumulated Depreciation | $ (2,208) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2022 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 9,179 | |||
Costs Capitalized Subsequent to Acquisition | 519 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,699 | |||
Total | 9,699 | |||
Accumulated Depreciation | $ (1,853) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2023 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,398 | |||
Costs Capitalized Subsequent to Acquisition | 636 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,034 | |||
Total | 7,034 | |||
Accumulated Depreciation | $ (1,094) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2024 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 9,522 | |||
Costs Capitalized Subsequent to Acquisition | 570 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,093 | |||
Total | 10,093 | |||
Accumulated Depreciation | $ (1,472) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2025 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,102 | |||
Costs Capitalized Subsequent to Acquisition | 994 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,089 | |||
Total | 5,089 | |||
Accumulated Depreciation | $ (958) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2026 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 3,655 | |||
Costs Capitalized Subsequent to Acquisition | 554 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 4,179 | |||
Total | 4,179 | |||
Accumulated Depreciation | $ (598) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2027 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,168 | |||
Costs Capitalized Subsequent to Acquisition | 862 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,030 | |||
Total | 8,030 | |||
Accumulated Depreciation | $ (1,245) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2028 Scottsdale AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,659 | |||
Costs Capitalized Subsequent to Acquisition | 840 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,499 | |||
Total | 7,499 | |||
Accumulated Depreciation | $ (1,126) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
453 Tucson AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 215 | |||
Buildings and Improvements | 6,318 | |||
Costs Capitalized Subsequent to Acquisition | 1,189 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 326 | |||
Buildings and Improvements | 6,977 | |||
Total | 7,303 | |||
Accumulated Depreciation | $ (2,896) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
556 Tucson AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 215 | |||
Buildings and Improvements | 3,940 | |||
Costs Capitalized Subsequent to Acquisition | 1,084 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 267 | |||
Buildings and Improvements | 4,544 | |||
Total | 4,811 | |||
Accumulated Depreciation | $ (1,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
1041 Brentwood CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 30,864 | |||
Costs Capitalized Subsequent to Acquisition | 2,640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 187 | |||
Buildings and Improvements | 33,121 | |||
Total | 33,308 | |||
Accumulated Depreciation | $ (8,091) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1200 Encino CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,151 | |||
Buildings and Improvements | 10,438 | |||
Costs Capitalized Subsequent to Acquisition | 3,206 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,534 | |||
Buildings and Improvements | 12,746 | |||
Total | 19,280 | |||
Accumulated Depreciation | $ (4,013) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
436 Murietta CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 400 | |||
Buildings and Improvements | 9,266 | |||
Costs Capitalized Subsequent to Acquisition | 2,800 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 578 | |||
Buildings and Improvements | 10,883 | |||
Total | 11,461 | |||
Accumulated Depreciation | $ (4,869) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
239 Poway CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,700 | |||
Buildings and Improvements | 10,839 | |||
Costs Capitalized Subsequent to Acquisition | 2,665 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,872 | |||
Buildings and Improvements | 11,684 | |||
Total | 14,556 | |||
Accumulated Depreciation | $ (5,928) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
318 Sacramento CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,860 | |||
Buildings and Improvements | 21,850 | |||
Costs Capitalized Subsequent to Acquisition | 35,287 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,860 | |||
Buildings and Improvements | 56,290 | |||
Total | 59,150 | |||
Accumulated Depreciation | (6,279) | |||
2404 Sacramento CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,268 | |||
Buildings and Improvements | 5,109 | |||
Costs Capitalized Subsequent to Acquisition | 130 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,268 | |||
Buildings and Improvements | 5,239 | |||
Total | 6,507 | |||
Accumulated Depreciation | $ (137) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
234 San Diego CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,848 | |||
Buildings and Improvements | 5,879 | |||
Costs Capitalized Subsequent to Acquisition | 1,450 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,009 | |||
Buildings and Improvements | 5,214 | |||
Total | 8,223 | |||
Accumulated Depreciation | $ (2,975) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 21 years | |||
235 San Diego CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,863 | |||
Buildings and Improvements | 8,913 | |||
Costs Capitalized Subsequent to Acquisition | 2,913 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,068 | |||
Buildings and Improvements | 9,450 | |||
Total | 12,518 | |||
Accumulated Depreciation | $ (5,672) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 21 years | |||
236 San Diego CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,619 | |||
Buildings and Improvements | 19,370 | |||
Costs Capitalized Subsequent to Acquisition | 4,023 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,711 | |||
Buildings and Improvements | 17,954 | |||
Total | 22,665 | |||
Accumulated Depreciation | $ (10,161) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 21 years | |||
421 San Diego CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,910 | |||
Buildings and Improvements | 17,362 | |||
Costs Capitalized Subsequent to Acquisition | 14,088 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,915 | |||
Buildings and Improvements | 31,444 | |||
Total | 34,359 | |||
Accumulated Depreciation | $ (6,901) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 22 years | |||
564 San Jose CA | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,762 | |||
Initial Cost to Company | ||||
Land | 1,935 | |||
Buildings and Improvements | 1,728 | |||
Costs Capitalized Subsequent to Acquisition | 2,136 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,935 | |||
Buildings and Improvements | 3,203 | |||
Total | 5,138 | |||
Accumulated Depreciation | $ (1,226) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
565 San Jose CA | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 6,432 | |||
Initial Cost to Company | ||||
Land | 1,460 | |||
Buildings and Improvements | 7,672 | |||
Costs Capitalized Subsequent to Acquisition | 527 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,460 | |||
Buildings and Improvements | 8,192 | |||
Total | 9,652 | |||
Accumulated Depreciation | $ (2,955) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
659 Los Gatos CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,718 | |||
Buildings and Improvements | 3,124 | |||
Costs Capitalized Subsequent to Acquisition | 622 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,758 | |||
Buildings and Improvements | 3,598 | |||
Total | 5,356 | |||
Accumulated Depreciation | $ (1,043) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1209 Sherman Oaks CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,472 | |||
Buildings and Improvements | 10,075 | |||
Costs Capitalized Subsequent to Acquisition | 4,233 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,931 | |||
Buildings and Improvements | 13,523 | |||
Total | 21,454 | |||
Accumulated Depreciation | $ (5,736) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 22 years | |||
439 Valencia CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,300 | |||
Buildings and Improvements | 6,967 | |||
Costs Capitalized Subsequent to Acquisition | 2,534 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,390 | |||
Buildings and Improvements | 7,861 | |||
Total | 10,251 | |||
Accumulated Depreciation | $ (3,209) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1211 Valencia CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,344 | |||
Buildings and Improvements | 7,507 | |||
Costs Capitalized Subsequent to Acquisition | 630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,383 | |||
Buildings and Improvements | 7,932 | |||
Total | 9,315 | |||
Accumulated Depreciation | $ (1,955) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
440 West Hills CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,100 | |||
Buildings and Improvements | 11,595 | |||
Costs Capitalized Subsequent to Acquisition | 2,987 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,156 | |||
Buildings and Improvements | 11,548 | |||
Total | 13,704 | |||
Accumulated Depreciation | $ (5,121) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 32 years | |||
728 Aurora CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,764 | |||
Costs Capitalized Subsequent to Acquisition | 2,223 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,986 | |||
Total | 10,986 | |||
Accumulated Depreciation | $ (4,746) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
1196 Aurora CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 210 | |||
Buildings and Improvements | 12,362 | |||
Costs Capitalized Subsequent to Acquisition | 1,513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 210 | |||
Buildings and Improvements | 13,635 | |||
Total | 13,845 | |||
Accumulated Depreciation | $ (3,513) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1197 Aurora CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 200 | |||
Buildings and Improvements | 8,414 | |||
Costs Capitalized Subsequent to Acquisition | 978 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 200 | |||
Buildings and Improvements | 9,268 | |||
Total | 9,468 | |||
Accumulated Depreciation | $ (2,892) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
882 Colorado Springs CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,933 | |||
Costs Capitalized Subsequent to Acquisition | 10,602 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 22,864 | |||
Total | 22,864 | |||
Accumulated Depreciation | $ (6,053) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
814 Conifer CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 1,485 | |||
Costs Capitalized Subsequent to Acquisition | 35 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13 | |||
Buildings and Improvements | 1,508 | |||
Total | 1,521 | |||
Accumulated Depreciation | $ (398) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1199 Denver CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 493 | |||
Buildings and Improvements | 7,897 | |||
Costs Capitalized Subsequent to Acquisition | 1,865 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 622 | |||
Buildings and Improvements | 9,400 | |||
Total | 10,022 | |||
Accumulated Depreciation | $ (2,581) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
808 Englewood CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,616 | |||
Costs Capitalized Subsequent to Acquisition | 7,829 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11 | |||
Buildings and Improvements | 15,671 | |||
Total | 15,682 | |||
Accumulated Depreciation | $ (4,243) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
809 Englewood CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,449 | |||
Costs Capitalized Subsequent to Acquisition | 3,444 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,255 | |||
Total | 11,255 | |||
Accumulated Depreciation | $ (3,744) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
810 Englewood CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,040 | |||
Costs Capitalized Subsequent to Acquisition | 4,792 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,411 | |||
Total | 12,411 | |||
Accumulated Depreciation | $ (4,745) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
811 Englewood CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,472 | |||
Costs Capitalized Subsequent to Acquisition | 2,551 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,573 | |||
Total | 10,573 | |||
Accumulated Depreciation | $ (3,627) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
812 Littleton CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,562 | |||
Costs Capitalized Subsequent to Acquisition | 2,200 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 257 | |||
Buildings and Improvements | 6,145 | |||
Total | 6,402 | |||
Accumulated Depreciation | $ (2,110) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
813 Littleton CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,926 | |||
Costs Capitalized Subsequent to Acquisition | 1,796 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 106 | |||
Buildings and Improvements | 6,144 | |||
Total | 6,250 | |||
Accumulated Depreciation | $ (1,693) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
570 Lone Tree CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 19,241 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 18,822 | |||
Total | 18,822 | |||
Accumulated Depreciation | $ (5,552) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
666 Lone Tree CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 23,274 | |||
Costs Capitalized Subsequent to Acquisition | 2,382 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 25,328 | |||
Total | 25,328 | |||
Accumulated Depreciation | $ (6,597) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2233 Lone Tree CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 23,315 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 23,316 | |||
Total | 23,316 | |||
1076 Parker CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | 13,388 | |||
Costs Capitalized Subsequent to Acquisition | 640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8 | |||
Buildings and Improvements | 13,946 | |||
Total | 13,954 | |||
Accumulated Depreciation | $ (3,471) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
510 Thornton CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 236 | |||
Buildings and Improvements | 10,206 | |||
Costs Capitalized Subsequent to Acquisition | 3,089 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 454 | |||
Buildings and Improvements | 13,054 | |||
Total | 13,508 | |||
Accumulated Depreciation | $ (4,325) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
433 Atlantis FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 5,651 | |||
Costs Capitalized Subsequent to Acquisition | 836 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 33 | |||
Buildings and Improvements | 5,596 | |||
Total | 5,629 | |||
Accumulated Depreciation | $ (2,556) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
434 Atlantis FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 2,027 | |||
Costs Capitalized Subsequent to Acquisition | 263 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5 | |||
Buildings and Improvements | 2,139 | |||
Total | 2,144 | |||
Accumulated Depreciation | $ (982) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
435 Atlantis FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 2,000 | |||
Costs Capitalized Subsequent to Acquisition | 738 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 2,484 | |||
Total | 2,484 | |||
Accumulated Depreciation | $ (1,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 32 years | |||
602 Atlantis FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 455 | |||
Buildings and Improvements | 2,231 | |||
Costs Capitalized Subsequent to Acquisition | 344 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 455 | |||
Buildings and Improvements | 2,371 | |||
Total | 2,826 | |||
Accumulated Depreciation | $ (725) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
604 Englewood FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 170 | |||
Buildings and Improvements | 1,134 | |||
Costs Capitalized Subsequent to Acquisition | 400 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 198 | |||
Buildings and Improvements | 1,400 | |||
Total | 1,598 | |||
Accumulated Depreciation | $ (463) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
609 Kissimmee FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 788 | |||
Buildings and Improvements | 174 | |||
Costs Capitalized Subsequent to Acquisition | 226 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 788 | |||
Buildings and Improvements | 311 | |||
Total | 1,099 | |||
Accumulated Depreciation | $ (104) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
610 Kissimmee FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 481 | |||
Buildings and Improvements | 347 | |||
Costs Capitalized Subsequent to Acquisition | 731 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 486 | |||
Buildings and Improvements | 1,032 | |||
Total | 1,518 | |||
Accumulated Depreciation | $ (339) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
671 Kissimmee FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,574 | |||
Costs Capitalized Subsequent to Acquisition | 2,065 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,450 | |||
Total | 8,450 | |||
Accumulated Depreciation | $ (2,349) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
603 Lake Worth FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,507 | |||
Buildings and Improvements | 2,894 | |||
Costs Capitalized Subsequent to Acquisition | 1,807 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,507 | |||
Buildings and Improvements | 4,569 | |||
Total | 6,076 | |||
Accumulated Depreciation | $ (1,450) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
612 Margate FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,553 | |||
Buildings and Improvements | 6,898 | |||
Costs Capitalized Subsequent to Acquisition | 1,275 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,553 | |||
Buildings and Improvements | 8,058 | |||
Total | 9,611 | |||
Accumulated Depreciation | $ (2,216) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
613 Miami FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,392 | |||
Buildings and Improvements | 11,841 | |||
Costs Capitalized Subsequent to Acquisition | 3,325 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,392 | |||
Buildings and Improvements | 14,245 | |||
Total | 18,637 | |||
Accumulated Depreciation | $ (4,505) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
2202 Miami FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 13,123 | |||
Costs Capitalized Subsequent to Acquisition | 2,760 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 15,883 | |||
Total | 15,883 | |||
Accumulated Depreciation | $ (996) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2203 Miami FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,877 | |||
Costs Capitalized Subsequent to Acquisition | 1,184 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,061 | |||
Total | 10,061 | |||
Accumulated Depreciation | $ (569) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1067 Milton FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,566 | |||
Costs Capitalized Subsequent to Acquisition | 248 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,795 | |||
Total | 8,795 | |||
Accumulated Depreciation | $ (2,077) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
563 Orlando FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,144 | |||
Buildings and Improvements | 5,136 | |||
Costs Capitalized Subsequent to Acquisition | 4,664 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,343 | |||
Buildings and Improvements | 8,570 | |||
Total | 10,913 | |||
Accumulated Depreciation | $ (3,282) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
833 Pace FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 10,309 | |||
Costs Capitalized Subsequent to Acquisition | 2,595 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 26 | |||
Buildings and Improvements | 10,584 | |||
Total | 10,610 | |||
Accumulated Depreciation | $ (2,321) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 44 years | |||
834 Pensacola FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 11,166 | |||
Costs Capitalized Subsequent to Acquisition | 478 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,644 | |||
Total | 11,644 | |||
Accumulated Depreciation | $ (2,724) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
614 Plantation FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 969 | |||
Buildings and Improvements | 3,241 | |||
Costs Capitalized Subsequent to Acquisition | 1,299 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,017 | |||
Buildings and Improvements | 4,144 | |||
Total | 5,161 | |||
Accumulated Depreciation | $ (1,287) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1944 Plantation FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,091 | |||
Buildings and Improvements | 7,176 | |||
Costs Capitalized Subsequent to Acquisition | 902 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,091 | |||
Buildings and Improvements | 7,744 | |||
Total | 8,835 | |||
Accumulated Depreciation | $ (2,006) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
701 St Petersburg FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 10,141 | |||
Costs Capitalized Subsequent to Acquisition | 9,016 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 18,532 | |||
Total | 18,532 | |||
Accumulated Depreciation | (4,359) | |||
1210 Tampa FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,967 | |||
Buildings and Improvements | 6,602 | |||
Costs Capitalized Subsequent to Acquisition | 5,061 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,142 | |||
Buildings and Improvements | 10,834 | |||
Total | 12,976 | |||
Accumulated Depreciation | $ (4,758) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1058 McCaysville GA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 3,231 | |||
Costs Capitalized Subsequent to Acquisition | 18 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 3,249 | |||
Total | 3,249 | |||
Accumulated Depreciation | $ (761) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1065 Marion IL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 99 | |||
Buildings and Improvements | 11,484 | |||
Costs Capitalized Subsequent to Acquisition | 389 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 100 | |||
Buildings and Improvements | 11,854 | |||
Total | 11,954 | |||
Accumulated Depreciation | $ (2,920) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1057 Newburgh IN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 14,019 | |||
Costs Capitalized Subsequent to Acquisition | 4,080 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 18,093 | |||
Total | 18,093 | |||
Accumulated Depreciation | $ (3,910) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2039 Kansas City KS | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 1,722 | |||
Initial Cost to Company | ||||
Land | 440 | |||
Buildings and Improvements | 2,173 | |||
Costs Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 448 | |||
Buildings and Improvements | 2,173 | |||
Total | 2,621 | |||
Accumulated Depreciation | $ (232) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2043 Overland Park KS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,668 | |||
Costs Capitalized Subsequent to Acquisition | 294 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,962 | |||
Total | 7,962 | |||
Accumulated Depreciation | $ (764) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
483 Wichita KS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 530 | |||
Buildings and Improvements | 3,341 | |||
Costs Capitalized Subsequent to Acquisition | 460 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 530 | |||
Buildings and Improvements | 3,801 | |||
Total | 4,331 | |||
Accumulated Depreciation | $ (1,389) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1064 Lexington KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,726 | |||
Costs Capitalized Subsequent to Acquisition | 1,164 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 13,777 | |||
Total | 13,777 | |||
Accumulated Depreciation | $ (3,663) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
735 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 936 | |||
Buildings and Improvements | 8,426 | |||
Costs Capitalized Subsequent to Acquisition | 4,551 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 936 | |||
Buildings and Improvements | 11,435 | |||
Total | 12,371 | |||
Accumulated Depreciation | $ (8,935) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 11 years | |||
737 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 835 | |||
Buildings and Improvements | 27,627 | |||
Costs Capitalized Subsequent to Acquisition | 4,144 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 877 | |||
Buildings and Improvements | 30,240 | |||
Total | 31,117 | |||
Accumulated Depreciation | $ (9,139) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
738 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 4,743 | |||
Initial Cost to Company | ||||
Land | 780 | |||
Buildings and Improvements | 8,582 | |||
Costs Capitalized Subsequent to Acquisition | 4,561 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 818 | |||
Buildings and Improvements | 11,856 | |||
Total | 12,674 | |||
Accumulated Depreciation | $ (6,339) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 18 years | |||
739 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,667 | |||
Initial Cost to Company | ||||
Land | 826 | |||
Buildings and Improvements | 13,814 | |||
Costs Capitalized Subsequent to Acquisition | 1,712 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 832 | |||
Buildings and Improvements | 14,622 | |||
Total | 15,454 | |||
Accumulated Depreciation | $ (4,476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
740 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 8,301 | |||
Initial Cost to Company | ||||
Land | 2,983 | |||
Buildings and Improvements | 13,171 | |||
Costs Capitalized Subsequent to Acquisition | 4,065 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,991 | |||
Buildings and Improvements | 16,612 | |||
Total | 19,603 | |||
Accumulated Depreciation | $ (6,130) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1944 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 788 | |||
Buildings and Improvements | 2,414 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 788 | |||
Buildings and Improvements | 2,414 | |||
Total | 3,202 | |||
Accumulated Depreciation | $ (483) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1945 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 24,644 | |||
Initial Cost to Company | ||||
Land | 3,255 | |||
Buildings and Improvements | 28,644 | |||
Costs Capitalized Subsequent to Acquisition | 665 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,255 | |||
Buildings and Improvements | 29,008 | |||
Total | 32,263 | |||
Accumulated Depreciation | $ (5,127) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1946 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 430 | |||
Buildings and Improvements | 6,125 | |||
Costs Capitalized Subsequent to Acquisition | 53 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 430 | |||
Buildings and Improvements | 6,178 | |||
Total | 6,608 | |||
Accumulated Depreciation | $ (1,031) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2237 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 9,901 | |||
Initial Cost to Company | ||||
Land | 1,519 | |||
Buildings and Improvements | 15,386 | |||
Costs Capitalized Subsequent to Acquisition | 495 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,542 | |||
Buildings and Improvements | 15,857 | |||
Total | 17,399 | |||
Accumulated Depreciation | $ (671) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2238 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 9,901 | |||
Initial Cost to Company | ||||
Land | 1,334 | |||
Buildings and Improvements | 12,172 | |||
Costs Capitalized Subsequent to Acquisition | 378 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,423 | |||
Buildings and Improvements | 12,461 | |||
Total | 13,884 | |||
Accumulated Depreciation | $ (548) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2239 Louisville KY | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 12,557 | |||
Initial Cost to Company | ||||
Land | 1,644 | |||
Buildings and Improvements | 10,832 | |||
Costs Capitalized Subsequent to Acquisition | 649 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,661 | |||
Buildings and Improvements | 11,465 | |||
Total | 13,126 | |||
Accumulated Depreciation | $ (476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1324 Haverhill MA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 800 | |||
Buildings and Improvements | 8,537 | |||
Costs Capitalized Subsequent to Acquisition | 1,911 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 869 | |||
Buildings and Improvements | 10,122 | |||
Total | 10,991 | |||
Accumulated Depreciation | $ (3,066) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1213 Ellicott City MD | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,115 | |||
Buildings and Improvements | 3,206 | |||
Costs Capitalized Subsequent to Acquisition | 2,554 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,222 | |||
Buildings and Improvements | 5,432 | |||
Total | 6,654 | |||
Accumulated Depreciation | $ (1,853) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
361 Glen Burnie MD | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 670 | |||
Buildings and Improvements | 5,085 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 670 | |||
Buildings and Improvements | 5,085 | |||
Total | 5,755 | |||
Accumulated Depreciation | $ (2,421) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1052 Towson MD | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 14,233 | |||
Costs Capitalized Subsequent to Acquisition | 3,611 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 15,800 | |||
Total | 15,800 | |||
Accumulated Depreciation | $ (5,491) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
240 Minneapolis MN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 117 | |||
Buildings and Improvements | 13,213 | |||
Costs Capitalized Subsequent to Acquisition | 1,734 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 117 | |||
Buildings and Improvements | 14,463 | |||
Total | 14,580 | |||
Accumulated Depreciation | $ (7,380) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 32 years | |||
300 Minneapolis MN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 160 | |||
Buildings and Improvements | 10,131 | |||
Costs Capitalized Subsequent to Acquisition | 3,251 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 160 | |||
Buildings and Improvements | 12,437 | |||
Total | 12,597 | |||
Accumulated Depreciation | $ (6,038) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2032 Independence MO | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 31,274 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 48,025 | |||
Costs Capitalized Subsequent to Acquisition | 572 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 48,596 | |||
Total | 48,596 | |||
Accumulated Depreciation | $ (3,795) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1078 Flowood MS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,413 | |||
Costs Capitalized Subsequent to Acquisition | 729 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,115 | |||
Total | 9,115 | |||
Accumulated Depreciation | $ (2,422) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1059 Jackson MS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,868 | |||
Costs Capitalized Subsequent to Acquisition | 73 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,941 | |||
Total | 8,941 | |||
Accumulated Depreciation | $ (2,071) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1060 Jackson MS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,187 | |||
Costs Capitalized Subsequent to Acquisition | 2,160 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,347 | |||
Total | 9,347 | |||
Accumulated Depreciation | $ (2,639) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1068 Omaha NE | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 16,243 | |||
Costs Capitalized Subsequent to Acquisition | 932 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 17 | |||
Buildings and Improvements | 17,097 | |||
Total | 17,114 | |||
Accumulated Depreciation | $ (4,139) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
729 Albuquerque NM | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 5,380 | |||
Costs Capitalized Subsequent to Acquisition | 388 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,768 | |||
Total | 5,768 | |||
Accumulated Depreciation | $ (1,713) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
348 Elko NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 55 | |||
Buildings and Improvements | 2,637 | |||
Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 55 | |||
Buildings and Improvements | 2,649 | |||
Total | 2,704 | |||
Accumulated Depreciation | $ (1,279) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
571 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 18,729 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 17,638 | |||
Total | 17,638 | |||
Accumulated Depreciation | $ (5,320) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
660 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,121 | |||
Buildings and Improvements | 4,363 | |||
Costs Capitalized Subsequent to Acquisition | 4,611 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,302 | |||
Buildings and Improvements | 7,363 | |||
Total | 8,665 | |||
Accumulated Depreciation | $ (2,719) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
661 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,305 | |||
Buildings and Improvements | 4,829 | |||
Costs Capitalized Subsequent to Acquisition | 4,513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,447 | |||
Buildings and Improvements | 8,362 | |||
Total | 10,809 | |||
Accumulated Depreciation | $ (2,918) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
662 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,480 | |||
Buildings and Improvements | 12,305 | |||
Costs Capitalized Subsequent to Acquisition | 4,637 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,480 | |||
Buildings and Improvements | 15,258 | |||
Total | 18,738 | |||
Accumulated Depreciation | $ (4,563) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
663 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,717 | |||
Buildings and Improvements | 3,597 | |||
Costs Capitalized Subsequent to Acquisition | 3,273 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,724 | |||
Buildings and Improvements | 5,789 | |||
Total | 7,513 | |||
Accumulated Depreciation | $ (1,816) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
664 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,172 | |||
Costs Capitalized Subsequent to Acquisition | 175 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,172 | |||
Buildings and Improvements | 175 | |||
Total | 1,347 | |||
691 Las Vegas NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 3,244 | |||
Buildings and Improvements | 18,339 | |||
Costs Capitalized Subsequent to Acquisition | 7,095 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,273 | |||
Buildings and Improvements | 24,277 | |||
Total | 27,550 | |||
Accumulated Depreciation | $ (7,800) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2037 Mesquite NV | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,908 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 5,559 | |||
Costs Capitalized Subsequent to Acquisition | 57 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,616 | |||
Total | 5,616 | |||
Accumulated Depreciation | $ (534) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1285 Cleveland OH | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 823 | |||
Buildings and Improvements | 2,726 | |||
Costs Capitalized Subsequent to Acquisition | 925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 853 | |||
Buildings and Improvements | 2,917 | |||
Total | 3,770 | |||
Accumulated Depreciation | $ (977) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
400 Harrison OH | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,561 | |||
Costs Capitalized Subsequent to Acquisition | 300 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 4,861 | |||
Total | 4,861 | |||
Accumulated Depreciation | $ (2,257) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1054 Durant OK | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 619 | |||
Buildings and Improvements | 9,256 | |||
Costs Capitalized Subsequent to Acquisition | 1,636 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 659 | |||
Buildings and Improvements | 10,833 | |||
Total | 11,492 | |||
Accumulated Depreciation | $ (2,454) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
817 Owasso OK | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,582 | |||
Costs Capitalized Subsequent to Acquisition | 808 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,275 | |||
Total | 7,275 | |||
Accumulated Depreciation | $ (3,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
404 Roseburg OR | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 5,707 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,707 | |||
Total | 5,707 | |||
Accumulated Depreciation | $ (2,570) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2234 Philadelphia PA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 24,264 | |||
Buildings and Improvements | 99,904 | |||
Costs Capitalized Subsequent to Acquisition | 2,204 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 24,264 | |||
Buildings and Improvements | 102,108 | |||
Total | 126,372 | |||
Accumulated Depreciation | $ (3,968) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2403 Philadelphia PA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 26,063 | |||
Buildings and Improvements | 97,646 | |||
Costs Capitalized Subsequent to Acquisition | 3,405 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 26,084 | |||
Buildings and Improvements | 101,031 | |||
Total | 127,115 | |||
Accumulated Depreciation | $ (2,685) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
252 Clarksville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 765 | |||
Buildings and Improvements | 4,184 | |||
Costs Capitalized Subsequent to Acquisition | 60 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 765 | |||
Buildings and Improvements | 4,244 | |||
Total | 5,009 | |||
Accumulated Depreciation | $ (2,130) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
624 Hendersonville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 256 | |||
Buildings and Improvements | 1,530 | |||
Costs Capitalized Subsequent to Acquisition | 1,483 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 256 | |||
Buildings and Improvements | 2,656 | |||
Total | 2,912 | |||
Accumulated Depreciation | $ (789) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
559 Hermitage TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 830 | |||
Buildings and Improvements | 5,036 | |||
Costs Capitalized Subsequent to Acquisition | 5,698 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 830 | |||
Buildings and Improvements | 10,136 | |||
Total | 10,966 | |||
Accumulated Depreciation | $ (3,621) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
561 Hermitage TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 596 | |||
Buildings and Improvements | 9,698 | |||
Costs Capitalized Subsequent to Acquisition | 4,377 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 596 | |||
Buildings and Improvements | 13,454 | |||
Total | 14,050 | |||
Accumulated Depreciation | $ (5,123) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
562 Hermitage TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 317 | |||
Buildings and Improvements | 6,528 | |||
Costs Capitalized Subsequent to Acquisition | 2,589 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 317 | |||
Buildings and Improvements | 8,538 | |||
Total | 8,855 | |||
Accumulated Depreciation | $ (3,168) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
154 Knoxville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 700 | |||
Buildings and Improvements | 4,559 | |||
Costs Capitalized Subsequent to Acquisition | 4,856 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 700 | |||
Buildings and Improvements | 9,322 | |||
Total | 10,022 | |||
Accumulated Depreciation | $ (3,600) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 19 years | |||
625 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 955 | |||
Buildings and Improvements | 14,289 | |||
Costs Capitalized Subsequent to Acquisition | 2,319 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 955 | |||
Buildings and Improvements | 15,545 | |||
Total | 16,500 | |||
Accumulated Depreciation | $ (4,649) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
626 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,050 | |||
Buildings and Improvements | 5,211 | |||
Costs Capitalized Subsequent to Acquisition | 3,498 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,055 | |||
Buildings and Improvements | 8,320 | |||
Total | 10,375 | |||
Accumulated Depreciation | $ (2,682) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
627 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,007 | |||
Buildings and Improvements | 181 | |||
Costs Capitalized Subsequent to Acquisition | 649 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,007 | |||
Buildings and Improvements | 805 | |||
Total | 1,812 | |||
Accumulated Depreciation | $ (324) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
628 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,980 | |||
Buildings and Improvements | 7,164 | |||
Costs Capitalized Subsequent to Acquisition | 2,186 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,980 | |||
Buildings and Improvements | 8,979 | |||
Total | 11,959 | |||
Accumulated Depreciation | $ (2,800) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
630 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 515 | |||
Buildings and Improvements | 848 | |||
Costs Capitalized Subsequent to Acquisition | 286 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 528 | |||
Buildings and Improvements | 1,120 | |||
Total | 1,648 | |||
Accumulated Depreciation | $ (394) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
631 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 266 | |||
Buildings and Improvements | 1,305 | |||
Costs Capitalized Subsequent to Acquisition | 1,384 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 266 | |||
Buildings and Improvements | 2,469 | |||
Total | 2,735 | |||
Accumulated Depreciation | $ (771) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
632 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 827 | |||
Buildings and Improvements | 7,642 | |||
Costs Capitalized Subsequent to Acquisition | 3,699 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 827 | |||
Buildings and Improvements | 10,316 | |||
Total | 11,143 | |||
Accumulated Depreciation | $ (3,200) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
633 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,425 | |||
Buildings and Improvements | 12,577 | |||
Costs Capitalized Subsequent to Acquisition | 4,144 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,425 | |||
Buildings and Improvements | 16,440 | |||
Total | 21,865 | |||
Accumulated Depreciation | $ (5,616) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
634 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,818 | |||
Buildings and Improvements | 15,185 | |||
Costs Capitalized Subsequent to Acquisition | 7,422 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,818 | |||
Buildings and Improvements | 21,238 | |||
Total | 25,056 | |||
Accumulated Depreciation | $ (6,348) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
636 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 583 | |||
Buildings and Improvements | 450 | |||
Costs Capitalized Subsequent to Acquisition | 303 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 583 | |||
Buildings and Improvements | 753 | |||
Total | 1,336 | |||
Accumulated Depreciation | $ (205) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
573 Arlington TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 769 | |||
Buildings and Improvements | 12,355 | |||
Costs Capitalized Subsequent to Acquisition | 3,707 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 769 | |||
Buildings and Improvements | 15,342 | |||
Total | 16,111 | |||
Accumulated Depreciation | $ (4,278) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
576 Conroe TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 324 | |||
Buildings and Improvements | 4,842 | |||
Costs Capitalized Subsequent to Acquisition | 2,024 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 324 | |||
Buildings and Improvements | 5,902 | |||
Total | 6,226 | |||
Accumulated Depreciation | $ (1,778) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
577 Conroe TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 397 | |||
Buildings and Improvements | 7,966 | |||
Costs Capitalized Subsequent to Acquisition | 2,363 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 397 | |||
Buildings and Improvements | 9,840 | |||
Total | 10,237 | |||
Accumulated Depreciation | $ (2,839) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
578 Conroe TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 388 | |||
Buildings and Improvements | 7,975 | |||
Costs Capitalized Subsequent to Acquisition | 3,862 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 388 | |||
Buildings and Improvements | 11,649 | |||
Total | 12,037 | |||
Accumulated Depreciation | $ (3,271) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
579 Conroe TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 188 | |||
Buildings and Improvements | 3,618 | |||
Costs Capitalized Subsequent to Acquisition | 983 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 188 | |||
Buildings and Improvements | 4,583 | |||
Total | 4,771 | |||
Accumulated Depreciation | $ (1,322) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
581 Corpus Christi TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 717 | |||
Buildings and Improvements | 8,181 | |||
Costs Capitalized Subsequent to Acquisition | 4,852 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 717 | |||
Buildings and Improvements | 12,204 | |||
Total | 12,921 | |||
Accumulated Depreciation | $ (3,903) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
600 Corpus Christi TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 328 | |||
Buildings and Improvements | 3,210 | |||
Costs Capitalized Subsequent to Acquisition | 3,735 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 328 | |||
Buildings and Improvements | 6,483 | |||
Total | 6,811 | |||
Accumulated Depreciation | $ (2,139) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
601 Corpus Christi TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 313 | |||
Buildings and Improvements | 1,771 | |||
Costs Capitalized Subsequent to Acquisition | 1,663 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 313 | |||
Buildings and Improvements | 2,999 | |||
Total | 3,312 | |||
Accumulated Depreciation | $ (813) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
2244 Cypress TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | 20,330 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 20,330 | |||
Total | 20,330 | |||
Accumulated Depreciation | 0 | |||
582 Dallas TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 0 | |||
Initial Cost to Company | ||||
Land | 1,664 | |||
Buildings and Improvements | 6,785 | |||
Costs Capitalized Subsequent to Acquisition | 3,251 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,706 | |||
Buildings and Improvements | 9,398 | |||
Total | 11,104 | |||
Accumulated Depreciation | $ (3,020) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1314 Dallas TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 15,230 | |||
Buildings and Improvements | 162,971 | |||
Costs Capitalized Subsequent to Acquisition | 8,480 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 15,860 | |||
Buildings and Improvements | 169,116 | |||
Total | 184,976 | |||
Accumulated Depreciation | $ (44,163) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2201 Dallas TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,043 | |||
Buildings and Improvements | 25,841 | |||
Costs Capitalized Subsequent to Acquisition | 61 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,043 | |||
Buildings and Improvements | 25,901 | |||
Total | 26,944 | |||
Accumulated Depreciation | $ (1,053) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
583 Fort Worth TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 898 | |||
Buildings and Improvements | 4,866 | |||
Costs Capitalized Subsequent to Acquisition | 1,776 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 898 | |||
Buildings and Improvements | 6,439 | |||
Total | 7,337 | |||
Accumulated Depreciation | $ (2,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
805 Fort Worth TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 2,481 | |||
Costs Capitalized Subsequent to Acquisition | 1,138 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2 | |||
Buildings and Improvements | 3,444 | |||
Total | 3,446 | |||
Accumulated Depreciation | $ (1,420) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
806 Fort Worth TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 6,070 | |||
Costs Capitalized Subsequent to Acquisition | 371 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5 | |||
Buildings and Improvements | 6,335 | |||
Total | 6,340 | |||
Accumulated Depreciation | $ (1,696) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2231 Fort Worth TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 902 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | 44 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 946 | |||
Buildings and Improvements | 0 | |||
Total | 946 | |||
Accumulated Depreciation | (3) | |||
1061 Granbury TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 6,863 | |||
Costs Capitalized Subsequent to Acquisition | 197 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 7,060 | |||
Total | 7,060 | |||
Accumulated Depreciation | $ (1,683) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
430 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,927 | |||
Buildings and Improvements | 33,140 | |||
Costs Capitalized Subsequent to Acquisition | 4,344 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,070 | |||
Buildings and Improvements | 36,424 | |||
Total | 38,494 | |||
Accumulated Depreciation | $ (16,662) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
446 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,200 | |||
Buildings and Improvements | 19,585 | |||
Costs Capitalized Subsequent to Acquisition | 8,033 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,209 | |||
Buildings and Improvements | 22,938 | |||
Total | 25,147 | |||
Accumulated Depreciation | $ (15,751) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 17 years | |||
586 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,033 | |||
Buildings and Improvements | 3,165 | |||
Costs Capitalized Subsequent to Acquisition | 1,218 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,033 | |||
Buildings and Improvements | 3,938 | |||
Total | 4,971 | |||
Accumulated Depreciation | $ (1,247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
589 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,676 | |||
Buildings and Improvements | 12,602 | |||
Costs Capitalized Subsequent to Acquisition | 4,559 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,706 | |||
Buildings and Improvements | 15,562 | |||
Total | 17,268 | |||
Accumulated Depreciation | $ (4,569) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
670 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 257 | |||
Buildings and Improvements | 2,884 | |||
Costs Capitalized Subsequent to Acquisition | 1,252 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 318 | |||
Buildings and Improvements | 3,843 | |||
Total | 4,161 | |||
Accumulated Depreciation | $ (1,302) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
702 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 7,414 | |||
Costs Capitalized Subsequent to Acquisition | 1,639 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7 | |||
Buildings and Improvements | 8,877 | |||
Total | 8,884 | |||
Accumulated Depreciation | $ (2,925) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
1044 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 4,838 | |||
Costs Capitalized Subsequent to Acquisition | 3,218 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 7,964 | |||
Total | 7,964 | |||
Accumulated Depreciation | $ (2,853) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2542 Houston TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 304 | |||
Buildings and Improvements | 17,764 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 304 | |||
Buildings and Improvements | 17,764 | |||
Total | 18,068 | |||
Accumulated Depreciation | $ (272) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2543 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 116 | |||
Buildings and Improvements | 6,555 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 116 | |||
Buildings and Improvements | 6,555 | |||
Total | 6,671 | |||
Accumulated Depreciation | $ (118) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2544 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 312 | |||
Buildings and Improvements | 12,094 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 312 | |||
Buildings and Improvements | 12,094 | |||
Total | 12,406 | |||
Accumulated Depreciation | $ (222) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2545 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 316 | |||
Buildings and Improvements | 13,931 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 316 | |||
Buildings and Improvements | 13,931 | |||
Total | 14,247 | |||
Accumulated Depreciation | $ (194) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2546 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 408 | |||
Buildings and Improvements | 18,332 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 408 | |||
Buildings and Improvements | 18,332 | |||
Total | 18,740 | |||
Accumulated Depreciation | $ (400) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2547 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 470 | |||
Buildings and Improvements | 18,197 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 470 | |||
Buildings and Improvements | 18,197 | |||
Total | 18,667 | |||
Accumulated Depreciation | $ (336) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2548 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 313 | |||
Buildings and Improvements | 7,036 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 313 | |||
Buildings and Improvements | 7,036 | |||
Total | 7,349 | |||
Accumulated Depreciation | $ (166) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2549 Houston Tx | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 530 | |||
Buildings and Improvements | 22,711 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 530 | |||
Buildings and Improvements | 22,711 | |||
Total | 23,241 | |||
Accumulated Depreciation | $ (278) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
590 Irving TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 828 | |||
Buildings and Improvements | 6,160 | |||
Costs Capitalized Subsequent to Acquisition | 2,572 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 828 | |||
Buildings and Improvements | 8,543 | |||
Total | 9,371 | |||
Accumulated Depreciation | $ (2,619) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
700 Irving TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 8,550 | |||
Costs Capitalized Subsequent to Acquisition | 3,362 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 11,471 | |||
Total | 11,471 | |||
Accumulated Depreciation | $ (3,968) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1202 Irving TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,604 | |||
Buildings and Improvements | 16,107 | |||
Costs Capitalized Subsequent to Acquisition | 987 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,633 | |||
Buildings and Improvements | 17,034 | |||
Total | 18,667 | |||
Accumulated Depreciation | $ (4,101) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1207 Irving TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,955 | |||
Buildings and Improvements | 12,793 | |||
Costs Capitalized Subsequent to Acquisition | 1,616 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,986 | |||
Buildings and Improvements | 14,377 | |||
Total | 16,363 | |||
Accumulated Depreciation | $ (3,472) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1062 Lancaster TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 172 | |||
Buildings and Improvements | 2,692 | |||
Costs Capitalized Subsequent to Acquisition | 1,091 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 185 | |||
Buildings and Improvements | 3,715 | |||
Total | 3,900 | |||
Accumulated Depreciation | $ (1,172) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2195 Lancaster TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 1,138 | |||
Costs Capitalized Subsequent to Acquisition | 672 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 131 | |||
Buildings and Improvements | 1,679 | |||
Total | 1,810 | |||
Accumulated Depreciation | $ (178) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
591 Lewisville TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 561 | |||
Buildings and Improvements | 8,043 | |||
Costs Capitalized Subsequent to Acquisition | 1,425 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 561 | |||
Buildings and Improvements | 9,374 | |||
Total | 9,935 | |||
Accumulated Depreciation | $ (2,708) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
144 Longview TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 102 | |||
Buildings and Improvements | 7,998 | |||
Costs Capitalized Subsequent to Acquisition | 450 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 102 | |||
Buildings and Improvements | 8,447 | |||
Total | 8,549 | |||
Accumulated Depreciation | $ (4,269) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
143 Lufkin TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 338 | |||
Buildings and Improvements | 2,383 | |||
Costs Capitalized Subsequent to Acquisition | 47 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 338 | |||
Buildings and Improvements | 2,390 | |||
Total | 2,728 | |||
Accumulated Depreciation | $ (1,114) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
568 McKinney TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 541 | |||
Buildings and Improvements | 6,217 | |||
Costs Capitalized Subsequent to Acquisition | 1,039 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 541 | |||
Buildings and Improvements | 6,588 | |||
Total | 7,129 | |||
Accumulated Depreciation | $ (2,212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
569 McKinney TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 636 | |||
Costs Capitalized Subsequent to Acquisition | 7,748 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 7,703 | |||
Total | 7,703 | |||
Accumulated Depreciation | $ (2,345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1079 Nassau Bay TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 8,942 | |||
Costs Capitalized Subsequent to Acquisition | 1,178 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 9,985 | |||
Total | 9,985 | |||
Accumulated Depreciation | $ (2,491) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
596 N Richland Hills TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 812 | |||
Buildings and Improvements | 8,883 | |||
Costs Capitalized Subsequent to Acquisition | 2,350 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 812 | |||
Buildings and Improvements | 10,890 | |||
Total | 11,702 | |||
Accumulated Depreciation | $ (3,013) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2048 North Richland Hills TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,385 | |||
Buildings and Improvements | 10,213 | |||
Costs Capitalized Subsequent to Acquisition | 1,427 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,399 | |||
Buildings and Improvements | 11,626 | |||
Total | 13,025 | |||
Accumulated Depreciation | $ (1,566) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1048 Pearland TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 4,014 | |||
Costs Capitalized Subsequent to Acquisition | 4,173 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 7,783 | |||
Total | 7,783 | |||
Accumulated Depreciation | $ (2,370) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2232 Pearland TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | 13,874 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 13,874 | |||
Total | 13,874 | |||
Accumulated Depreciation | (3) | |||
447 Plano TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 0 | |||
Initial Cost to Company | ||||
Land | 1,700 | |||
Buildings and Improvements | 7,810 | |||
Costs Capitalized Subsequent to Acquisition | 6,191 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,727 | |||
Buildings and Improvements | 13,355 | |||
Total | 15,082 | |||
Accumulated Depreciation | $ (5,124) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
597 Plano TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,210 | |||
Buildings and Improvements | 9,588 | |||
Costs Capitalized Subsequent to Acquisition | 3,831 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,210 | |||
Buildings and Improvements | 12,641 | |||
Total | 13,851 | |||
Accumulated Depreciation | $ (3,565) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
672 Plano TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,389 | |||
Buildings and Improvements | 12,768 | |||
Costs Capitalized Subsequent to Acquisition | 1,824 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,389 | |||
Buildings and Improvements | 13,385 | |||
Total | 14,774 | |||
Accumulated Depreciation | $ (3,567) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
1284 Plano TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,049 | |||
Buildings and Improvements | 18,793 | |||
Costs Capitalized Subsequent to Acquisition | 1,950 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,101 | |||
Buildings and Improvements | 18,735 | |||
Total | 20,836 | |||
Accumulated Depreciation | $ (6,125) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1286 Plano TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,300 | |||
Buildings and Improvements | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,300 | |||
Buildings and Improvements | 0 | |||
Total | 3,300 | |||
Accumulated Depreciation | 0 | |||
815 San Antonio TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 9,193 | |||
Costs Capitalized Subsequent to Acquisition | 1,472 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 12 | |||
Buildings and Improvements | 10,191 | |||
Total | 10,203 | |||
Accumulated Depreciation | $ (3,022) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
816 San Antonio TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 3,854 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 8,699 | |||
Costs Capitalized Subsequent to Acquisition | 2,640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 148 | |||
Buildings and Improvements | 10,673 | |||
Total | 10,821 | |||
Accumulated Depreciation | $ (2,920) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1591 San Antonio TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 7,309 | |||
Costs Capitalized Subsequent to Acquisition | 355 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 12 | |||
Buildings and Improvements | 7,653 | |||
Total | 7,665 | |||
Accumulated Depreciation | $ (1,474) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1977 San Antonio TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 26,191 | |||
Costs Capitalized Subsequent to Acquisition | 1,118 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 27,301 | |||
Total | 27,301 | |||
Accumulated Depreciation | $ (4,819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
598 Sugarland TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,078 | |||
Buildings and Improvements | 5,158 | |||
Costs Capitalized Subsequent to Acquisition | 2,236 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,170 | |||
Buildings and Improvements | 6,879 | |||
Total | 8,049 | |||
Accumulated Depreciation | $ (2,219) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
599 Texas City TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 9,519 | |||
Costs Capitalized Subsequent to Acquisition | 157 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 9,676 | |||
Total | 9,676 | |||
Accumulated Depreciation | $ (2,489) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
152 Victoria TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 125 | |||
Buildings and Improvements | 8,977 | |||
Costs Capitalized Subsequent to Acquisition | 394 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 125 | |||
Buildings and Improvements | 9,370 | |||
Total | 9,495 | |||
Accumulated Depreciation | $ (4,314) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2550 The Woodlands TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 115 | |||
Buildings and Improvements | 5,141 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 115 | |||
Buildings and Improvements | 5,141 | |||
Total | 5,256 | |||
Accumulated Depreciation | $ (80) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2551 The Woodlands TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 296 | |||
Buildings and Improvements | 18,282 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 296 | |||
Buildings and Improvements | 18,282 | |||
Total | 18,578 | |||
Accumulated Depreciation | $ (248) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2552 The Woodlands TX | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 374 | |||
Buildings and Improvements | 25,125 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 374 | |||
Buildings and Improvements | 25,125 | |||
Total | 25,499 | |||
Accumulated Depreciation | $ (302) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1592 Bountiful UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 4,870 | |||
Initial Cost to Company | ||||
Land | 999 | |||
Buildings and Improvements | 7,426 | |||
Costs Capitalized Subsequent to Acquisition | 161 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 999 | |||
Buildings and Improvements | 7,587 | |||
Total | 8,586 | |||
Accumulated Depreciation | $ (1,374) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
169 Bountiful UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 276 | |||
Buildings and Improvements | 5,237 | |||
Costs Capitalized Subsequent to Acquisition | 1,078 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 348 | |||
Buildings and Improvements | 6,086 | |||
Total | 6,434 | |||
Accumulated Depreciation | $ (2,682) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
346 Castle Dale UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 50 | |||
Buildings and Improvements | 1,818 | |||
Costs Capitalized Subsequent to Acquisition | 63 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 50 | |||
Buildings and Improvements | 1,881 | |||
Total | 1,931 | |||
Accumulated Depreciation | $ (934) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
347 Centerville UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 300 | |||
Buildings and Improvements | 1,288 | |||
Costs Capitalized Subsequent to Acquisition | 191 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 300 | |||
Buildings and Improvements | 1,479 | |||
Total | 1,779 | |||
Accumulated Depreciation | $ (790) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2035 Draper UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 5,384 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 10,803 | |||
Costs Capitalized Subsequent to Acquisition | 113 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 10,916 | |||
Total | 10,916 | |||
Accumulated Depreciation | $ (972) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
469 Kaysville UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 530 | |||
Buildings and Improvements | 4,493 | |||
Costs Capitalized Subsequent to Acquisition | 226 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 530 | |||
Buildings and Improvements | 4,719 | |||
Total | 5,249 | |||
Accumulated Depreciation | $ (1,517) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
456 Layton UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 371 | |||
Buildings and Improvements | 7,073 | |||
Costs Capitalized Subsequent to Acquisition | 861 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 389 | |||
Buildings and Improvements | 7,675 | |||
Total | 8,064 | |||
Accumulated Depreciation | $ (3,117) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2042 Layton UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 10,975 | |||
Costs Capitalized Subsequent to Acquisition | 83 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 11,058 | |||
Total | 11,058 | |||
Accumulated Depreciation | $ (900) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
359 Ogden UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 180 | |||
Buildings and Improvements | 1,695 | |||
Costs Capitalized Subsequent to Acquisition | 187 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 180 | |||
Buildings and Improvements | 1,761 | |||
Total | 1,941 | |||
Accumulated Depreciation | $ (819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1283 Ogden UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 106 | |||
Buildings and Improvements | 4,464 | |||
Costs Capitalized Subsequent to Acquisition | 696 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 106 | |||
Buildings and Improvements | 4,241 | |||
Total | 4,347 | |||
Accumulated Depreciation | $ (4,167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
357 Orem UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 337 | |||
Buildings and Improvements | 8,744 | |||
Costs Capitalized Subsequent to Acquisition | 1,622 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 306 | |||
Buildings and Improvements | 8,128 | |||
Total | 8,434 | |||
Accumulated Depreciation | $ (3,898) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
371 Providence UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 240 | |||
Buildings and Improvements | 3,876 | |||
Costs Capitalized Subsequent to Acquisition | 250 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 256 | |||
Buildings and Improvements | 3,820 | |||
Total | 4,076 | |||
Accumulated Depreciation | $ (1,788) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
353 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 190 | |||
Buildings and Improvements | 779 | |||
Costs Capitalized Subsequent to Acquisition | 148 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 201 | |||
Buildings and Improvements | 916 | |||
Total | 1,117 | |||
Accumulated Depreciation | $ (446) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
354 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 220 | |||
Buildings and Improvements | 10,732 | |||
Costs Capitalized Subsequent to Acquisition | 1,727 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 220 | |||
Buildings and Improvements | 12,179 | |||
Total | 12,399 | |||
Accumulated Depreciation | $ (5,885) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
355 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 180 | |||
Buildings and Improvements | 14,792 | |||
Costs Capitalized Subsequent to Acquisition | 1,835 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 180 | |||
Buildings and Improvements | 16,102 | |||
Total | 16,282 | |||
Accumulated Depreciation | $ (7,674) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
467 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,000 | |||
Buildings and Improvements | 7,541 | |||
Costs Capitalized Subsequent to Acquisition | 2,013 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,126 | |||
Buildings and Improvements | 9,081 | |||
Total | 12,207 | |||
Accumulated Depreciation | $ (3,024) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
566 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 509 | |||
Buildings and Improvements | 4,044 | |||
Costs Capitalized Subsequent to Acquisition | 1,512 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 509 | |||
Buildings and Improvements | 5,200 | |||
Total | 5,709 | |||
Accumulated Depreciation | $ (1,752) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2041 Salt Lake City UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 12,326 | |||
Costs Capitalized Subsequent to Acquisition | 73 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 0 | |||
Buildings and Improvements | 12,399 | |||
Total | 12,399 | |||
Accumulated Depreciation | $ (1,039) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2033 Sandy UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 867 | |||
Buildings and Improvements | 3,513 | |||
Costs Capitalized Subsequent to Acquisition | 718 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 867 | |||
Buildings and Improvements | 4,231 | |||
Total | 5,098 | |||
Accumulated Depreciation | $ (717) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
358 Springville UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 85 | |||
Buildings and Improvements | 1,493 | |||
Costs Capitalized Subsequent to Acquisition | 233 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 95 | |||
Buildings and Improvements | 1,618 | |||
Total | 1,713 | |||
Accumulated Depreciation | $ (779) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
482 Stansbury UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 450 | |||
Buildings and Improvements | 3,201 | |||
Costs Capitalized Subsequent to Acquisition | 374 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 450 | |||
Buildings and Improvements | 3,448 | |||
Total | 3,898 | |||
Accumulated Depreciation | $ (1,182) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
351 Washington Terrace UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,573 | |||
Costs Capitalized Subsequent to Acquisition | 2,299 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 17 | |||
Buildings and Improvements | 6,421 | |||
Total | 6,438 | |||
Accumulated Depreciation | $ (3,141) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
352 Washington Terrace UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 2,692 | |||
Costs Capitalized Subsequent to Acquisition | 1,159 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 15 | |||
Buildings and Improvements | 3,470 | |||
Total | 3,485 | |||
Accumulated Depreciation | $ (1,591) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2034 West Jordan UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,118 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 12,021 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,021 | |||
Total | 12,021 | |||
Accumulated Depreciation | $ (996) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2036 West Jordan UT | Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 947 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 1,383 | |||
Costs Capitalized Subsequent to Acquisition | 329 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 1,713 | |||
Total | 1,713 | |||
Accumulated Depreciation | $ (308) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
495 West Valley City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 410 | |||
Buildings and Improvements | 8,266 | |||
Costs Capitalized Subsequent to Acquisition | 1,002 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 410 | |||
Buildings and Improvements | 9,268 | |||
Total | 9,678 | |||
Accumulated Depreciation | $ (3,909) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
349 West Valley City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,070 | |||
Buildings and Improvements | 17,463 | |||
Costs Capitalized Subsequent to Acquisition | 128 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,036 | |||
Buildings and Improvements | 17,581 | |||
Total | 18,617 | |||
Accumulated Depreciation | $ (8,461) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1208 Fairfax VA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,396 | |||
Buildings and Improvements | 16,709 | |||
Costs Capitalized Subsequent to Acquisition | 4,406 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,494 | |||
Buildings and Improvements | 20,467 | |||
Total | 28,961 | |||
Accumulated Depreciation | $ (6,819) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 28 years | |||
2230 Fredericksburg VA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,101 | |||
Buildings and Improvements | 8,570 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,101 | |||
Buildings and Improvements | 8,570 | |||
Total | 9,671 | |||
Accumulated Depreciation | $ (347) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
572 Reston VA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 11,902 | |||
Costs Capitalized Subsequent to Acquisition | 563 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,394 | |||
Total | 12,394 | |||
Accumulated Depreciation | $ (4,328) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
448 Renton WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 18,724 | |||
Costs Capitalized Subsequent to Acquisition | 1,973 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,469 | |||
Total | 19,469 | |||
Accumulated Depreciation | $ (8,824) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
781 Seattle WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 52,703 | |||
Costs Capitalized Subsequent to Acquisition | 11,475 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 60,430 | |||
Total | 60,430 | |||
Accumulated Depreciation | $ (17,488) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
782 Seattle WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 24,382 | |||
Costs Capitalized Subsequent to Acquisition | 11,409 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 125 | |||
Buildings and Improvements | 34,502 | |||
Total | 34,627 | |||
Accumulated Depreciation | $ (9,828) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
783 Seattle WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 5,625 | |||
Costs Capitalized Subsequent to Acquisition | 1,318 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 183 | |||
Buildings and Improvements | 6,685 | |||
Total | 6,868 | |||
Accumulated Depreciation | $ (6,147) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 10 years | |||
785 Seattle WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,293 | |||
Costs Capitalized Subsequent to Acquisition | 4,596 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,723 | |||
Total | 10,723 | |||
Accumulated Depreciation | $ (2,740) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
1385 Seattle WA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 45,027 | |||
Costs Capitalized Subsequent to Acquisition | 2,271 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 47,120 | |||
Total | 47,120 | |||
Accumulated Depreciation | $ (11,601) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2038 Evanston WY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,601 | |||
Costs Capitalized Subsequent to Acquisition | 8 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 4,609 | |||
Total | 4,609 | |||
Accumulated Depreciation | $ (429) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
884 Coyoacan MX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 415 | |||
Buildings and Improvements | 3,739 | |||
Costs Capitalized Subsequent to Acquisition | (666) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 70 | |||
Buildings and Improvements | 3,417 | |||
Total | 3,487 | |||
Accumulated Depreciation | $ (799) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years |
Schedule III - Real Estate an98
Schedule III - Real Estate and Accumulated Depreciation - Amount that Tax Basis of Net Real Estate Assets Less Than the Reported Amounts (Details) $ in Billions | Dec. 31, 2015USD ($) |
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 | $ 1.6 |
Schedule III - Real Estate an99
Schedule III - Real Estate and Accumulated Depreciation - Summary of Activity for Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Real estate: | |||
Balances at beginning of year | $ 13,137,644 | $ 12,592,841 | $ 12,524,224 |
Acquisition of real estate and development and improvements | 1,930,931 | 756,043 | 257,189 |
Disposition of real estate | (121,374) | (169,311) | (78,151) |
Impairments | (3,118) | ||
Balances associated with changes in reporting presentation | (56,331) | (41,929) | (110,421) |
Balances at end of year | 14,887,752 | 13,137,644 | 12,592,841 |
Accumulated depreciation: | |||
Balances at beginning of year | 2,250,757 | 1,965,592 | 1,694,892 |
Depreciation expense | 418,591 | 384,019 | 353,344 |
Disposition of real estate | (17,251) | (55,745) | (38,447) |
Balances associated with changes in reporting presentation | (47,061) | (43,109) | (44,197) |
Balances at end of year | $ 2,605,036 | $ 2,250,757 | $ 1,965,592 |