Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Jan. 31, 2017 | Jun. 30, 2016 | |
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, 2016 | ||
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 | $ 15.1 | ||
Entity Common Stock, Shares Outstanding | 468,178,740 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Real estate: | ||
Buildings and improvements | $ 11,692,654,000 | $ 12,007,071,000 |
Development costs and construction in progress | 400,619,000 | 388,576,000 |
Land | 1,881,487,000 | 1,934,610,000 |
Accumulated depreciation and amortization | (2,648,930,000) | (2,476,015,000) |
Net real estate | 11,325,830,000 | 11,854,242,000 |
Net investment in direct financing leases | 752,589,000 | 750,693,000 |
Loans receivable, net | 807,954,000 | 768,743,000 |
Investments in and advances to unconsolidated joint ventures | 571,491,000 | 605,244,000 |
Accounts receivable, net of allowance of $4,459 and $3,261, respectively | 45,116,000 | 48,929,000 |
Cash and cash equivalents of continuing operations, end of year | 94,730,000 | 340,442,000 |
Restricted cash | 42,260,000 | 46,090,000 |
Intangible assets, net | 479,805,000 | 586,657,000 |
Assets held for sale and discontinued operations, net | 927,866,000 | 5,654,326,000 |
Other assets, net | 711,624,000 | 794,483,000 |
Total assets | 15,759,265,000 | 21,449,849,000 |
LIABILITIES AND EQUITY | ||
Bank line of credit | 899,718,000 | 397,432,000 |
Term loans | 440,062,000 | 524,807,000 |
Senior unsecured notes | 7,133,538,000 | 9,120,107,000 |
Mortgage debt | 623,792,000 | 932,212,000 |
Other debt | 92,385,000 | 94,445,000 |
Intangible liabilities, net | 58,145,000 | 56,147,000 |
Liabilities of assets held for sale and discontinued operations, net | 3,776,000 | 25,266,000 |
Accounts payable and accrued liabilities | 417,360,000 | 430,786,000 |
Deferred revenue | 149,181,000 | 122,330,000 |
Total liabilities | 9,817,957,000 | 11,703,532,000 |
Commitments and contingencies | ||
Common stock, $1.00 par value: 750,000,000 shares authorized; 468,081,489 and 465,488,492 shares issued and outstanding, respectively | 468,081,000 | 465,488,000 |
Additional paid-in capital | 8,198,890,000 | 11,647,039,000 |
Cumulative dividends in excess of earnings | (3,089,734,000) | (2,738,414,000) |
Accumulated other comprehensive loss | (29,642,000) | (30,470,000) |
Total stockholders' equity | 5,547,595,000 | 9,343,643,000 |
Joint venture partners | 214,377,000 | 217,066,000 |
Non-managing member unitholders | 179,336,000 | 185,608,000 |
Total noncontrolling interests | 393,713,000 | 402,674,000 |
Total equity | 5,941,308,000 | 9,746,317,000 |
Total liabilities and equity | $ 15,759,265,000 | $ 21,449,849,000 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Company's involvement with VIEs: | ||
Development in process | $ 400,619 | $ 388,576 |
Land | 1,881,487 | 1,934,610 |
Accumulated depreciation and amortization | 2,648,930 | 2,476,015 |
Accounts receivable | 45,116 | 48,929 |
Cash | 94,730 | 340,442 |
Restricted cash | 42,260 | 46,090 |
Intangible assets, net | 479,805 | 586,657 |
Other assets, net | 711,624 | 794,483 |
Mortgage debt | 623,792 | 932,212 |
Intangible liabilities, net | 58,145 | 56,147 |
Accounts payable and accrued liabilities | 417,360 | 430,786 |
Deferred Revenue | 149,181 | 122,330 |
Balance Sheet Parenthetical Disclosures | ||
Accounts receivable, allowance (in dollars) | $ 4,459 | $ 3,261 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 468,081,489 | 465,488,492 |
Common stock, shares outstanding | 468,081,489 | 465,488,492 |
VIEs | ||
Company's involvement with VIEs: | ||
Buildings and improvements | $ 3,500 | $ 791,000 |
Development in process | 32,000 | |
Land | 327,000 | 125,000 |
Accumulated depreciation and amortization | 676,000 | 135,000 |
Accounts receivable | 20,000 | 16,000 |
Cash | 36,000 | 35,000 |
Restricted cash | 23,000 | 18,000 |
Intangible assets, net | 169,000 | |
Other assets, net | 70,000 | 20,000 |
Mortgage debt | 521,000 | |
Intangible liabilities, net | 9,000 | |
Accounts payable and accrued liabilities | 121,000 | 60,000 |
Deferred Revenue | $ 23,000 | $ 14,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues: | |||
Rental and related revenues | $ 1,159,791 | $ 1,116,830 | $ 1,147,145 |
Tenant recoveries | 134,280 | 125,022 | 109,659 |
Resident fees and services | 686,835 | 525,453 | 241,965 |
Income from direct financing leases | 59,580 | 61,000 | 64,441 |
Interest income | 88,808 | 112,184 | 73,623 |
Total revenues | 2,129,294 | 1,940,489 | 1,636,833 |
Costs and expenses: | |||
Interest expense | 464,403 | 479,596 | 439,742 |
Depreciation and amortization | 568,108 | 504,905 | 455,016 |
Operating | 738,399 | 610,679 | 381,294 |
General and administrative | 103,611 | 95,965 | 81,765 |
Acquisition and pursuit costs | 9,821 | 27,309 | 17,142 |
Impairment, net | 108,349 | ||
Total costs and expenses | 1,884,342 | 1,826,803 | 1,374,959 |
Other income (expense): | |||
Gain on sales of real estate, net | 164,698 | 6,377 | 3,288 |
Loss on debt extinguishments | (46,020) | ||
Other income, net | 3,654 | 16,208 | 9,252 |
Total other income, net | 122,332 | 22,585 | 12,540 |
Income before income taxes and equity income from unconsolidated joint ventures | 367,284 | 136,271 | 274,414 |
Income tax (expense) benefit | (4,473) | 9,807 | 506 |
Equity income (loss) from unconsolidated joint ventures | 11,360 | 6,590 | (3,605) |
Income from continuing operations | 374,171 | 152,668 | 271,315 |
Discontinued operations: | |||
Income before impairments, transaction costs, gain on sales of real estate and income taxes | 400,701 | 643,109 | 673,935 |
Impairments, net | (1,341,399) | (35,913) | |
Transaction costs | (86,765) | ||
Gain on sales of real estate, net of income taxes | 28,010 | ||
Income tax expense | (48,181) | (796) | (756) |
Total discontinued operations | 265,755 | (699,086) | 665,276 |
Net income (loss) | 639,926 | (546,418) | 936,591 |
Noncontrolling interests' share in earnings | (12,179) | (12,817) | (14,358) |
Net income (loss) attributable to HCP, Inc. | 627,747 | (559,235) | 922,233 |
Participating securities' share in earnings | (1,198) | (1,317) | (2,437) |
Net income (loss) applicable to common shares | $ 626,549 | $ (560,552) | $ 919,796 |
Basic earnings per common share: | |||
Continuing operations (in dollars per share) | $ 0.77 | $ 0.30 | $ 0.56 |
Discontinued operations (in dollars per share) | 0.57 | (1.51) | 1.45 |
Net income (loss) applicable to common shares (in dollars per share) | 1.34 | (1.21) | 2.01 |
Diluted earnings per common share: | |||
Continuing operations (in dollars per share) | 0.77 | 0.30 | 0.56 |
Discontinued operations (in dollars per share) | 0.57 | (1.51) | 1.44 |
Net income (loss) applicable to common shares (in dollars per share) | $ 1.34 | $ (1.21) | $ 2 |
Weighted average shares used to calculate earnings per common share: | |||
Basic (in shares) | 467,195 | 462,795 | 458,425 |
Diluted (in shares) | 467,403 | 462,795 | 458,796 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Net income (loss) | $ 639,926 | $ (546,418) | $ 936,591 |
Change in net unrealized (losses) gains on securities: | |||
Unrealized (losses) gains | (62) | (5) | 13 |
Change in net unrealized gains on cash flow hedges: | |||
Unrealized gains | 3,233 | 1,894 | 2,258 |
Reclassification adjustment realized in net income | 707 | 148 | (1,085) |
Change in Supplemental Executive Retirement Plan obligation | 282 | 126 | (627) |
Foreign currency translation adjustment | (3,332) | (8,738) | (9,967) |
Total other comprehensive income (loss) | 828 | (6,575) | (9,408) |
Total comprehensive income (loss) | 640,754 | (552,993) | 927,183 |
Total comprehensive income attributable to noncontrolling interests | (12,179) | (12,817) | (14,358) |
Total comprehensive income (loss) attributable to HCP, Inc. | $ 628,575 | $ (565,810) | $ 912,825 |
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 Income (Loss) | Total Noncontrolling Interests | Total |
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 income (loss) | 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 | ||||||
Conversion of DownREIT units to common stock | 473 | ||||||
Conversion of DownREIT units (in shares) | 27 | ||||||
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 | (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 income (loss) | (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 | |||||
Conversion of DownREIT units to common stock | $ 2,979 | ||||||
Conversion of DownREIT units (in shares) | 104 | ||||||
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 | (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 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net income (loss) | 627,747 | 627,747 | 12,179 | 639,926 | |||
Other comprehensive income | 828 | 828 | 828 | ||||
Issuance of common stock, net | 64,177 | $ 2,552 | 61,625 | 64,177 | |||
Issuance of common stock, net (in shares) | 2,552 | ||||||
Conversion of DownREIT units to common stock | 6,093 | $ 145 | 5,948 | $ (6,093) | 6,093 | ||
Conversion of DownREIT units (in shares) | 145 | 7,000 | |||||
Repurchase of common stock | (8,685) | $ (237) | (8,448) | (8,685) | |||
Repurchase of common stock (in shares) | (237) | ||||||
Exercise of stock options | 3,473 | $ 133 | 3,340 | 3,473 | |||
Exercise of stock options (in shares) | 133 | ||||||
Amortization of deferred compensation | 22,884 | 22,884 | 22,884 | ||||
Common dividends | (979,542) | (979,542) | (979,542) | ||||
Distribution of QCP, Inc | (3,532,763) | (3,532,763) | (3,532,763) | ||||
Distributions to noncontrolling interests | (36) | (36) | $ (26,311) | (26,347) | |||
Issuance of noncontrolling interests | 11,834 | 11,834 | |||||
Deconsolidation of noncontrolling interests | 439 | (36) | 475 | 67 | 506 | ||
Purchase of noncontrolling interests | (663) | (663) | (637) | (1,300) | |||
Balance at Dec. 31, 2016 | $ 5,547,595 | $ 468,081 | $ 8,198,890 | $ (3,089,734) | $ (29,642) | $ 393,713 | $ 5,941,308 |
Balance (in shares) at Dec. 31, 2016 | 468,081 |
CONSOLIDATED STATEMENTS OF EQU7
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares | Feb. 02, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
CONSOLIDATED STATEMENTS OF EQUITY | ||||
Common dividends, per share (in dollars per share) | $ 0.37 | $ 2.095 | $ 2.26 | $ 2.18 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Cash flows from operating activities: | |||
Net income (loss) | $ 639,926 | $ (546,418) | $ 936,591 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization of real estate, in-place lease and other intangibles continuing operations | 568,108 | 504,905 | 455,016 |
Depreciation and amortization of real estate, in-place lease and other intangibles discontinued operations | 4,890 | 5,880 | 4,979 |
Amortization of market lease intangibles, net | (1,197) | (1,295) | (949) |
Amortization of deferred compensation | 22,884 | 26,127 | 21,885 |
Amortization of deferred financing costs | 20,014 | 20,222 | 19,260 |
Straight-line rents | (18,003) | (28,859) | (41,032) |
Loan and direct financing lease non-cash interest | 599 | (5,648) | 1,063 |
Loan and direct financing lease non-cash interest discontinued operations | (90,065) | (79,349) | |
Deferred rental revenues | (1,959) | (2,813) | (1,884) |
Equity income from unconsolidated joint ventures | (11,360) | (57,313) | (49,570) |
Distributions of earnings from unconsolidated joint ventures | 26,492 | 15,111 | 5,045 |
Lease termination income, net | (1,103) | (38,001) | |
Gain on sales of real estate, net | (164,698) | (6,377) | (31,298) |
Deferred income tax expense | 47,195 | ||
Loss on debt extinguishment | 46,020 | ||
Foreign exchange and other (gains) losses, net | 188 | (7,178) | (2,270) |
Impairment, net | 1,449,748 | 35,913 | |
Changes in: | |||
Accounts receivable, net | 3,813 | (9,569) | (8,845) |
Other assets, net | (10,805) | (19,453) | (6,287) |
Accounts payable and other accrued liabilities | 42,024 | (23,757) | 28,354 |
Net cash provided by operating activities | 1,214,131 | 1,222,145 | 1,248,621 |
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 | (467,162) | (613,252) | (503,470) |
Development of real estate | (421,322) | (281,017) | (178,513) |
Leasing costs and tenant and capital improvements | (91,442) | (84,282) | (71,734) |
Proceeds from sales of real estate, net | 647,754 | 58,623 | 104,557 |
Contributions to unconsolidated joint ventures | (10,186) | (69,936) | (2,935) |
Distributions in excess of earnings from unconsolidated joint ventures | 28,366 | 30,989 | 2,657 |
Purchase of securities for debt defeasance | (73,278) | ||
Proceeds from sales of marketable securities | 2,348 | ||
Principal repayments on loans receivable, direct financing leases and other | 231,990 | 625,701 | 119,511 |
Investments in loans receivable, direct financing leases and other | (273,693) | (575,652) | (600,019) |
Decrease (increase) in restricted cash | 18,356 | 4,798 | (11,747) |
Net cash used in investing activities | (410,617) | (1,672,005) | (1,511,879) |
Cash flows from financing activities: | |||
Net borrowings under bank line of credit | 1,108,417 | 98,743 | 845,190 |
Repayments under bank line of credit | (540,000) | (511,521) | |
Proceeds from debt related to QCP Spin-Off, net | 1,691,268 | ||
Cash impact of QCP Spin-Off | (6,096) | ||
Borrowings under term loan | 333,014 | ||
Issuance of senior unsecured notes | 1,936,017 | 1,150,000 | |
Repayments of senior unsecured notes | (2,000,000) | (400,000) | (487,000) |
Issuance of mortgage and other debt | 35,445 | ||
Loss on debt extinguishment | (45,406) | ||
Repayments of mortgage and other debt | (316,774) | (57,845) | (447,784) |
Deferred financing costs | (9,450) | (19,995) | (16,550) |
Issuance of common stock and exercise of options | 67,650 | 206,471 | 96,592 |
Repurchase of common stock | (8,685) | (8,738) | (12,703) |
Dividends paid on common stock | (979,542) | (1,046,638) | (1,001,559) |
Issuance of noncontrolling interests | 11,834 | 110,775 | 4,674 |
Purchase of noncontrolling interests | (1,300) | (7,049) | (5,897) |
Distributions to noncontrolling interests | (26,181) | (19,147) | (15,611) |
Net cash (used in) provided by financing activities | (1,054,265) | 614,087 | 144,797 |
Effect of foreign exchange on cash and cash equivalents | (1,019) | (1,537) | 1,715 |
Net (decrease) increase in cash and cash equivalents | (251,770) | 162,690 | (116,746) |
Cash and cash equivalents, beginning of year | 346,500 | 183,810 | 300,556 |
Cash and cash equivalents, end of year | 94,730 | 346,500 | 183,810 |
Less: cash and cash equivalents of discontinued operations | (6,058) | (1,894) | |
Cash and cash equivalents of continuing operations, end of year | $ 94,730 | $ 340,442 | $ 181,916 |
Business
Business | 12 Months Ended |
Dec. 31, 2016 | |
Business | |
Business | NOTE 1. Business Overview 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. The Company’s diverse portfolio is comprised of investments in the following reportable healthcare segments: (i) senior housing triple-net (“SH NNN”), (ii) senior housing operating portfolio (“SHOP”), (iii) life science and (iv) medical office. Quality Care Properties, Inc. On October 31, 2016, the Company completed the spin-off (the “Spin-Off”) of its subsidiary, Quality Care Properties, Inc. (“QCP”) (NYSE:QCP). The Spin-Off assets included 338 properties, primarily comprised of the HCR ManorCare, Inc. (“HCRMC”) direct financing lease (“DFL”) investments and an equity investment in HCRMC. QCP is an independent, publicly-traded, self-managed and self-administrated REIT. As a result of the Spin-Off, the operations of QCP are now classified as discontinued operations in all periods presented herein. See Note 5 for further information on the Spin-Off. On October 17, 2016, subsidiaries of QCP issued $750 million in aggregate principal amount of senior secured notes due 2023 (the “QCP Notes”), the gross proceeds of which were deposited in escrow until they were released in connection with the consummation of the Spin-Off on October 31, 2016. The QCP Notes bear interest at a rate of 8.125% per annum, payable semiannually. From October 17, 2016 until the completion of the Spin-Off, QCP (a then wholly-owned subsidiary of HCP) incurred $2 million in interest expense. In addition, immediately prior to the effectiveness of the Spin-Off, subsidiaries of QCP received $1.0 billion of proceeds from their borrowings under a senior secured term loan, bearing interest at a rate at QCP’s option of either: (i) LIBOR plus 5.25%, subject to a 1% floor or (ii) a base rate specified in the first lien credit and guaranty agreement plus 4.25%, bringing the total gross proceeds raised b y QCP and its subsidiaries under those financings to $1.75 billion. In connection with the consummation of the Spin-Off, QCP and its subsidiaries transferred $1.69 billion in cash and 94 million shares of QCP common stock to HCP and certain of its other subsidiaries, and HCP and its applicable subsidiaries transferred the assets comprising the QCP portfolio to QCP and its subsidiaries. HCP then distributed substantially all of the outstanding shares of QCP common stock to its stockholders, based on the distribution ratio of one share of QCP common stock for every five shares of HCP common stock held by HCP stockholders as of the October 24, 2016 record date for the distribution. The Company recorded the distribution of the assets and liabilities of QCP from its consolidated balance sheet on a historical cost basis as a dividend from stockholders’ equity of $3.5 billion, and no gain or loss was recognized. The Company primarily used the $1.69 billion proceeds of the cash distribution it received from QCP upon consummation of the Spin-Off to pay down certain of the Company’s existing debt obligations. The Company entered into a Separation and Distribution Agreement (the “Separation and Distribution Agreement”) with QCP in connection with the Spin-Off. The Separation and Distribution Agreement divides and allocates the assets and liabilities of the Company prior to the Spin-Off between QCP and HCP, governs the rights and obligations of the parties regarding the Spin-Off, and contains other key provisions relating to the separation of QCP’s business from HCP. In connection with the Spin-Off, the Company entered into a Transition Services Agreement ("TSA") with QCP. Per the terms of the TSA, the Company agreed to provide certain administrative and support services to QCP on a transitional basis for established fees. The TSA will terminate on the expiration of the term of the last service provided under the agreement, which will be on or prior to October 30, 2017. The TSA provides that QCP generally has the right to terminate a transition service upon thirty days’ notice to the Company. The TSA contains provisions under which the Company will, subject to certain limitations, be obligated to indemnify QCP for losses incurred by QCP resulting from the Company’s breach of the TSA. Following completion of the Spin-Off, which occurred on October 31, 2016, HCP is the sole lender to QCP of a $100 million unsecured revolving credit facility maturing in 2018 (the "Unsecured Revolving Credit Facility"). Commitments under the Unsecured Revolving Credit Facility will automatically and permanently decrease each calendar month by an amount equal to 50% of QCP's and its restricted subsidiaries’ retained cash flow for the prior calendar month. All borrowings under the Unsecured Revolving Credit Facility will be subject to the satisfaction of certain conditions, including (i) QCP’s senior secured revolving credit facility being unavailable, (ii) the failure of HCRMC to pay rent and (iii) other customary conditions, including the absence of a default and the accuracy of representations and warranties. QCP may only draw on the Unsecured Revolving Credit Facility prior to the one-year anniversary of the completion of the Spin-Off. Borrowings under the Unsecured Revolving Credit Facility bear interest at a rate equal to LIBOR, subject to a 1.00% floor, plus an applicable margin of 6.25%. In addition to paying interest on outstanding principal under the Unsecured Revolving Credit Facility, QCP is required to pay a facility fee equal to 0.50% per annum of the unused capacity under the Unsecured Revolving Credit Facility to HCP, payable quarterly. At December 31, 2016, no amounts were drawn on the Unsecured Revolving Credit Facility. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
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 any of the following: (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 DFL 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 property, 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 commences recognition of 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 relate to the reimbursement of real estate taxes, insurance and repairs and maintenance expense. These expenses are recognized as revenue in the period they 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 a 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. 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: (i) it is probable 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 transactions 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 the cost for the construction and improvement incurred in connection 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 lives. 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. If an asset is classified as held for sale, it is reported at the lower of its carrying value or fair value less costs to sell and no longer depreciated. 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, significant 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. 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 determined 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 on a straight-line basis over the vesting period. Forfeitures of share-based awards are recognized as they occur. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term investments with original 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, changes in fair value related to the effective portion of the derivative instruments are recognized in accumulated other comprehensive income (loss), whereas changes in fair value of the ineffective portion are recognized in earnings. Using certain of its British pound sterling (“GBP”) denominated debt, the Company applies net investment hedge accounting to hedge the foreign currency exposure from its net investment in GBP-functional subsidiaries. The variability of the GBP-denominated debt due to changes in the GBP to U.S. dollar (“USD”) exchange rate (“remeasurement value”) is recognized as part of the cumulative translation adjustment component of accumulated other comprehensive income (loss). 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 its cash flow hedge accounting prospectively and records the appropriate adjustment to earnings based on the current fair value of the derivative instrument. For net investment hedge accounting, upon sale or liquidation of the hedged investment, the cumulative balance of the remeasurement value is reclassified to earnings. 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 (“TRSs”). TRSs are subject to both federal and state income taxes. The Company recognizes tax penalties relating to unrecognized tax benefits as additional income tax expense. Interest relating to unrecognized tax benefits is recognized as interest expense. Marketable Securities The Company classifies its marketable equity securities as available for sale. These securities are carried at 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. Penalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts and premiums are recognized as income or expense in the consolidated statements of operations at the time of extinguishment. Segment Reporting The Company’s reportable segments, based on how it evaluates its business and allocates resources, are as follows: (i) SH NNN, (ii) SHOP, (iii) life science and (iv) medical office. Prior to the third quarter of 2016, the Company operated through five reportable segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. During the third quarter of 2016, primarily as a result of the planned spin-off of QCP, the Company revised its operating analysis structure. The Company believes the change to its reportable segments is appropriate and consistent with how its chief operating decision makers review the Company’s operating results and determine resource allocations. Accordingly, all prior period segment information has been reclassified to conform to the current period presentation. Noncontrolling Interests Arrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s equity. Net 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 i |
Brookdale Lease Amendments and
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures ("Brookdale Transaction") | 12 Months Ended |
Dec. 31, 2016 | |
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 the 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 partnerships 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 entities (“SH PropCo” and “SH OpCo”) and manages the facilities on behalf of the partnership (see Note 5 for the disposition of a portion of our interest in RIDEA II in January 2017); 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”) 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 and (ii) $53 million to settle the amount that the Company owed to Brookdale for the RIDEA II transaction. The Company amortizes 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 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). 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 RIDEA II, the Company received the following: (i) a $34 million short-term receivable recorded in other assets (repaid in June 2016); (ii) a $68 million note from Brookdale (the “Brookdale Receivable”) recorded in loans receivable 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. 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. The following table summarizes the quantitative information about fair value measurements for the NNN Lease Restructuring and RIDEA II transactions (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 100.00% 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, 2016 | |
Other Real Estate Property Investments | |
Other Real Estate Property Investments | NOTE 4. Other Real Estate Property Investments 2016 Real Estate Acquisitions The following table summarizes real estate acquisitions for the year ended December 31, 2016 (in thousands): Consideration Assets Acquired (1) Liabilities Net Segment Cash Paid Assumed Real Estate Intangibles SH NNN $ $ $ $ SHOP Life science — Medical office Other — $ $ $ $ (1) The purchase price allocations are preliminary and may be subject to change. Revenues and earnings since the acquisition dates, as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material. 2015 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. For the year ended December 31, 2016, the Company recognized revenues and earnings of $187 million and $3 million, respectively, from RIDEA III. 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, 2014 (in thousands, except per share amounts): December 31, 2015 December 31, 2014 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, the following table summarizes other real estate acquisitions for the year ended December 31, 2015 (in thousands): Consideration Assets Acquired (1) Cash Paid/ Liabilities Noncontrolling Net Segment Debt Settled Assumed Interest Real Estate Intangibles SH NNN $ $ — $ — $ $ — SHOP Life science — Medical office (2) — Other (3) — $ $ $ $ $ (1) Revenues and earnings since the acquisition dates, as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material. (2) 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). (3) 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. Construction, Tenant and Other Capital Improvements The following table summarizes the Company’s funding for construction, tenant and other capital improvements (in thousands): Year Ended December 31, Segment 2016 2015 SH NNN $ $ SHOP Life science Medical office Other $ $ |
Discontinued Operations and Dis
Discontinued Operations and Dispositions of Real Estate | 12 Months Ended |
Dec. 31, 2016 | |
Discontinued Operations and Dispositions of Real Estate | |
Discontinued Operations and Dispositions of Real Estate | NOTE 5. Discontinued Operations and Dispositions of Real Estate Discontinued Operations - Quality Care Properties, Inc. On October 31, 2016, the Company completed the Spin-Off of its subsidiary, QCP. The following is a summary of the assets and liabilities transferred to QCP at the Spin-Off date (in thousands): October 31, December 31, 2016 2015 ASSETS Real estate: Buildings and improvements $ $ Land Accumulated depreciation and amortization Net real estate Net investment in direct financing leases Cash and cash equivalents Restricted cash — Intangible assets, net Other assets, net Total assets $ $ LIABILITIES Accounts payable and accrued liabilities $ $ Deferred revenue Total liabilities Net assets $ $ The results of discontinued operations through October 31, 2016, the Spin-Off date, are included in the consolidated results for the years ended December 31, 2016, 2015 and 2014. Summarized financial information for discontinued operations for the years ended December 31, 2016, 2015, and 2014 is as follows (in thousands): Year Ended December 31, 2016 2015 2014 Revenues: Rental and related revenues $ $ $ Tenant recoveries Income from direct financing leases Interest income — — Total revenues Costs and expenses: Depreciation and amortization Operating General and administrative Transaction costs — — Impairments — — Other income, net Income (loss) before income taxes and income from and impairments of equity method investment Income tax expense Income from equity method investment — Impairments of equity method investment — Net income (loss) from discontinued operations $ $ $ During the fourth quarter of 2016, using proceeds from the Spin-Off, the Company repaid $500 million of 6.0% senior unsecured notes that were due to mature in January 2017, $600 million of 6.7% senior unsecured notes that were due to mature in January 2018 and $108 million of mortgage debt; incurring aggregate loss on debt extinguishments of $46 million. HCR ManorCare, Inc. Discontinued operations is primarily comprised of QCP’s HCRMC DFL investments and equity investment in HCRMC. During the years ended December 31, 2016, 2015 and 2014, the Company recognized DFL income of $385 million, $573 million and $599 million, respectively, and received cash payments of $385 million, $483 million and $519 million, respectively, from the HCRMC DFL investments. The carrying value of the HCRMC DFL investments was $5.2 billion at December 31, 2015. The following summarizes the significant transactions and impairments related to HCRMC: 2014 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 fair value of the Company’s equity investment was based on an income approach utilizing a discounted cash flow valuation model and inputs were considered to be Level 3 measurements within the fair value hierarchy. 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. 2015 During the three months 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. During the year ended December 31, 2015, the Company completed sales of 22 non-strategic HCRMC facilities for $219 million. During the year ended December 31, 2016, the Company sold an additional 11 facilities for $62 million, bringing the total facilities sold to 33 at the time of the Spin-Off. 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 and reset the minimum rent escalation to 3.0% for each lease year through the expiration of the initial term. The initial term was extended five years to an average of 16 years. 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. As a result of the HCRMC Lease Amendment, the Company recorded an 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. Additionally, HCRMC agreed to sell, and HCP agreed to purchase, nine post-acute facilities for an aggregate purchase price of $275 million. Through December 31, 2015, HCRMC and HCP completed seven of the nine facility purchases for $184 million. Through Spin-Off, HCRMC and HCP completed the remaining two facility purchases for $91 million, bringing the nine facility purchases to an aggregate $275 million, the proceeds of which were used to settle a portion of the DRO discussed above. As 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 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. 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. As part of the Company’s fourth quarter 2015 review process, including its internal rating evaluation, it assessed the collectibility of all contractual rent payments under the Amended Master Lease, as discussed below and assigned an internal rating of “Watch List” as of December 31, 2015. Further, the Company placed the HCRMC DFL investments on nonaccrual status and began utilizing a cash basis method of accounting in accordance with its policies (see Note 2). As a result of assigning an internal rating of “Watch List” to its HCRMC DFL investments during the quarterly review process, the Company further evaluated the carrying amount of its HCRMC DFL investments and determined that it was probable that its HCRMC DFL investments were impaired. 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 was probable that its HCRMC DFL investments were impaired. 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. The allowance for credit losses 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 included 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 1.05x-1.15x 1.25x-1.35x Range of real estate capitalization rate 6.25%-7.25% 7.50%-8.50% 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, reducing its carrying value to zero. Beginning in January 2016, income was recognized only if cash distributions were received from HCRMC. 2016 The Company’s acquisition of the HCRMC DFL investments in 2011 was subject to federal and state built-in gain tax of up to $2 billion if all the assets were sold within 10 years. At the time of acquisition, the Company intended to hold the assets for at least 10 years, at which time the assets would no longer be subject to the built-in gain tax. In December 2015, the U.S. Federal Government passed legislation which permanently reduced the holding period, for federal tax purposes, to five years. The Company satisfied the five year holding period requirement in April 2016. This legislation was not extended to certain states, which maintain a 10 year requirement. During the year ended December 31, 2016, the Company determined that it may sell assets during the next five years and, therefore, recorded a deferred tax liability of $47 million, representing its estimated exposure to state built-in gain tax. Dispositions of Real Estate Held for Sale At December 31, 2016, 64 SH NNN facilities, four life science facilities and a SHOP facility were classified as held for sale, with an aggregate carrying value of $928 million, primarily comprised of real estate assets of $809 million. At December 31, 2015, four life science facilities were classified as held for sale, with an aggregate carrying value of $314 million, primarily comprised of real estate assets of $288 million. Liabilities of assets held for sale is primarily comprised of intangible liabilities at both December 31, 2016 and 2015. 2016 Dispositions During the year ended December 31, 2016, the Company sold the following: (i) a portfolio of five post-acute/skilled nursing facilities and two SH NNN facilities for $130 million, (ii) five life science facilities for $386 million, (iii) seven SH NNN facilities for $88 million, (iv) three MOBs for $20 million and (v) three SHOP facilities for $41 million. 2015 Dispositions During the year ended December 31, 2015, the Company sold the following: (i) nine SH NNN 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. 2014 Dispositions 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, (iii) a senior housing facility for $16 million and (iv) 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. Pending Dispositions In October 2016, the Company entered into definitive agreements to sell 64 SH NNN assets (classified as held for sale as of December 31, 2016), currently under triple-net leases with Brookdale, for $1.125 billion to affiliates of Blackstone Real Estate Partners VIII L.P. The closing of this transaction is expected to occur in the first quarter of 2017 and remains subject to regulatory and third party approvals and other customary closing conditions. Additionally, in October 2016, the Company entered into definitive agreements for a multi-element transaction with Brookdale to: (i) sell or transition 25 assets currently triple-net leased to Brookdale, for which Brookdale will receive a $10.5 million annual rent reduction upon lease termination, (ii) re-allocate annual rent of $9.6 million from those 25 assets to the remaining Brookdale triple-net lease portfolio (occurred on November 1, 2016) and (iii) transition eight triple-net leased assets into RIDEA structures (seven of which closed in December 2016 and one of which closed in January 2017). The closing of the sale or transition of the 25 assets and corresponding rent reduction is expected to occur throughout 2017 and remains subject to regulatory and third party approvals and other customary closing conditions. In January 2016, the Company entered into a definitive agreement for purchase options that were exercised on eight life science facilities in South San Francisco, California, to be sold in two tranches for $311 million (sold in November 2016 and discussed above) and $269 million, respectively. The second tranche is expected to close in the third quarter of 2018. Subsequent Events In January 2017, the Company sold four life science facilities in Salt Lake City, Utah for $76 million. In May 2016, the Company entered into a master contribution agreement with Brookdale to contribute its ownership interest in RIDEA II to an unconsolidated JV owned by HCP and an investor group led by Columbia Pacific Advisors, LLC (“CPA”) (the “HCP/CPA JV”). The members agreed to recapitalize RIDEA II with $602 million of debt, of which $360 million was provided by a third-party and $242 million was provided by HCP. In return, the Company received $480 million in cash proceeds from the HCP/CPA JV and $242 million in note receivables and retained an approximately 40% beneficial interest in RIDEA II (the note receivable and 40% beneficial interest are herein referred to as the “RIDEA II Investments”). The Company’s RIDEA II Investments are recognized and accounted for as equity method investments. This transaction resulted in the Company deconsolidating the net assets of RIDEA II because it will not direct the activities that most significantly impact the venture. These transactions closed in January 2017. |
Net Investment in Direct Financ
Net Investment in Direct Financing Leases | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 Minimum lease payments receivable $ $ Estimated residual values Less unearned income Net investment in direct financing leases $ $ Properties subject to direct financing leases Certain DFLs 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. The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2016 (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2016 (dollars in thousands): Carrying Percentage of Internal Ratings Segment Amount DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs SH NNN $ $ $ $ — Other — — $ $ $ $ — Beginning September 30, 2013, the Company placed a 14 property senior 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, 2016 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, 2016, 2015 and 2014, the Company recognized DFL income of $13 million, $15 million and $19 million, respectively, and received cash payments of $18 million, $20 million and $24 million, respectively, from the DFL Portfolio. The carrying value of the DFL Portfolio was $361 million and $366 million at December 31, 2016 and 2015, respectively. |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2016 | |
Loans Receivable. | |
Loans Receivable | NOTE 7. Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2016 2015 Real Estate Other Real Estate Other Secured Secured Total Secured Secured Total Mezzanine (1)(2) $ — $ $ $ — $ $ Other — — Unamortized premiums (discounts), fees and costs, net Allowance for loan losses — — — — — — $ $ $ $ $ $ (1) At December 31, 2016, included £282 million ($348 million) outstanding and £2 million ($3 million) of associated unamortized discounts, fees and costs both related to the HC-One Facility. At December 31, 2015, included £273 million ($403 million) outstanding and £4 million ($5 million) of associated unamortized discounts, fees and costs both related to the HC-One Facility. (2) At December 31, 2016, the Company had £35 million ($43 million) remaining under its commitments to fund development projects and capital expenditures under it U.K. development projects. The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2016 (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 The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2016 (dollars in thousands): Final Number Maturity of Principal Carrying Date Loans Payment Terms Amount (1) Amount 2017 1 monthly interest-only payments, accrues interest at LIBOR plus 6.0%, and secured by, among other things, the issuer’s real estate assets $ $ 2018 1 monthly interest-only payments, accrues interest at 8.0% and secured by a senior housing facility in Pennsylvania (2) 2021 2 aggregate monthly interest-only payments, accrues interest at 8.0% and 9.75% and secured by two senior housing facility in the U.K .(3) 2023 1 monthly interest-only payments, accrues interest at 7.0% and secured by seven senior housing facilities in the U.K . 5 $ $ (1) Represents future contractual principal payments to be received on loans receivable secured by real estate. (2) Represents commitments to fund an aggregate of $0.1 million for a development project that is at or near completion as of December 31, 2016. (3) Represents commitments to fund an aggregate of £12 million ($15 million) for two development projects as of December 31, 2016. During the year ended December 31, 2016, the Company recognized $26 million in interest income related to loans secured by real estate. 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 spin-off of 36 properties into a separate joint venture. In return, the Company retained security over the spin-off properties for a period of two years. Through the year ended December 31, 2015, the Company received paydowns of £34 million ($52 million). At December 31, 2016, the HC-One Facility had an outstanding balance of $345 million. 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. Due to a decline in Tandem’s operating performance, as of September 30, 2016, the Company assigned an internal rating of “Watch List” to its Tandem Health Care Loan. Although Tandem continues to remain current on its payment obligations, the collection and timing of all future amounts owed is no longer reasonably assured. During the year ended December 31, 2016, 2015 and 2014, the Company recognized interest income of $31 million, $29 million and $27 million, respectively, and received cash payments of $30 million, $29 million and $27 million, respectively, from Tandem. At December 31, 2016, the facility had an outstanding balance of $256 million at an 11.5% blended interest rate and was subordinate to $374 million of senior mortgage debt. |
Investments in and Advances to
Investments in and Advances to Unconsolidated Joint Ventures | 12 Months Ended |
Dec. 31, 2016 | |
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 (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Ownership % 2016 2015 CCRC JV (2) SHOP $ $ MBK JV (3) SHOP HCP Ventures III, LLC Medical office HCP Ventures IV, LLC Medical office HCP Life Science (4) Life science 50-63 Vintage Park SHOP MBK Development JV (3) SHOP Suburban Properties, LLC Medical office K&Y (5) Other — Advances to unconsolidated joint ventures, net and other $ $ (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). (3) Includes two unconsolidated joint ventures in a RIDEA structure (PropCo and OpCo). (4) 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%). (5) Includes three unconsolidated joint ventures. MBK JV 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. HCP Ventures III, LLC and HCP Ventures IV, LLC On December 30, 2015, HCP Ventures III, LLC (“HCP Ventures III”) 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. During the quarter ended December 31, 2016, HCP Ventures III sold the remaining three assets in its portfolio for $31 million, recognizing gains on sales of real estate of $4.9 million, of which the Company’s share was $1.3 million. As part of this sale, the Company received aggregate distributions of $8 million. |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2016 | |
Intangibles | |
Intangibles | NOTE 9. Intangibles The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2016 2015 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 lease assets was 13 years at both December 31, 2016 and 2015. The following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2016 2015 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 11 and 10 years at December 31, 2016 and 2015, respectively. For the years ended December 31, 2016, 2015 and 2014, rental income includes additional revenues of $4 million, $4 million and $3 million, respectively, from the amortization of net below market lease intangibles. For the years ended December 31, 2016, 2015 and 2014, operating expenses include additional expense of $1 million each year from the amortization of net below market ground lease intangibles. For the years ended December 31, 2016, 2015 and 2014, depreciation and amortization expense includes additional expense of $85 million, $76 million and $60 million, respectively, from the amortization of lease-up and non-compete agreement intangibles. The following table summarizes the estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter (in thousands): Intangible Intangible Assets Liabilities 2017 $ $ 2018 2019 2020 2021 Thereafter $ $ |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets. | |
Other Assets | NOTE 10. Other Assets The following table summarizes the Company’s other assets (in thousands): December 31, 2016 2015 Straight-line rent receivables, net of allowance of $25,059 and $32,918, respectively $ $ Marketable debt securities, net Leasing costs and inducements, net Goodwill Other Total other assets $ $ 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 17). 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. Accordingly, the Company applied the contractual interest payments received in December 2015 (£8 million or $13 million), June 2016 (£8 million or $13 million) and December 2016 (£8 million or $11 million) against the principal balance. This treatment reduced the carrying value of the Four Seasons Notes to £58 million ($85 million) and £42 million ($50 million) at December 31, 2015 and 2016, respectively. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016, the margin on the Facility was 1.05%, and the facility fee was 0.20%. 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, 2016, the Company had $900 million, including £372 million ($460 million), outstanding under the Facility with a weighted average effective interest rate of 1.82%. On July 30, 2012, the Company entered into a credit agreement with a syndicate of banks for a £137 million ($169 million at December 31, 2016) four-year unsecured term loan (the “2012 Term Loan”). In July 2016, the Company exercised a one-year extension option on the 2012 Term Loan. Based on the Company’s credit ratings at December 31, 2016, the 2012 Term Loan accrues interest at a rate of GBP LIBOR plus 1.40%. On January 12, 2015, the Company entered into a credit agreement with a syndicate of banks for a £220 million ($272 million at December 31, 2016) four-year unsecured term loan (the “2015 Term Loan”) that accrues interest at a rate of GBP LIBOR plus 1.15%, 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 interest rate of the 2015 Term Loan (1.97% at December 31, 2016). 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 $6.5 billion at December 31, 2016, which requirement was reduced, via an amendment to the Facility, effective upon the completion of the Spin-Off of QCP on October 31, 2016. At December 31, 2016, the Company was in compliance with each of these restrictions and requirements of the Facility and Term Loans. Senior Unsecured Notes At December 31, 2016, the Company had senior unsecured notes outstanding with an aggregate principal balance of $7.2 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, 2016. The following table summarizes the Company’s senior unsecured notes 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 $ % $ 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, 2016: February 1, 2016 $ % September 15, 2016 $ % November 30, 2016 $ % November 30, 2016 $ % Year ended December 31, 2015: March 1, 2015 $ % June 8, 2015 $ % Mortgage Debt At December 31, 2016, the Company had $619 million in aggregate principal of mortgage debt outstanding, which is secured by 36 healthcare facilities (including redevelopment properties) with a carrying value of $899 million. 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, 2016 (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) 2017 $ — $ $ % $ % $ 2018 — — — % — % 2019 — % — % 2020 — — % % 2021 — — % % Thereafter — — % % % % Discounts and debt costs, net — $ $ $ $ $ (1) Includes £372 million translated into 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 4.34% and a weighted average maturity of six years. (4) Interest rates on the mortgage debt ranged from 3.02% to 7.50% with a weighted average effective interest rate of 3.40% and a weighted average maturity of six years. (5) Excludes $92 million of other debt that represents Life Care Bonds and Demand Notes that have no scheduled maturities. Other Debt At December 31, 2016, the Company had $64 million of non-interest bearing life care bonds at two of its continuing care retirement communities and non-interest bearing occupancy fee deposits at three of its senior housing facilities, all of which are 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, 2016, 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%. Subsequent Events In January 2017, the Company repaid $440 million on the Facility primarily using proceeds from the RIDEA II joint venture disposition. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
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. Except as described below, the Company is not aware of any other legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company’s policy is to expense legal costs as they are incurred. On May 9, 2016, a purported stockholder of the Company filed a putative class action complaint, Boynton Beach Firefighters’ Pension Fund v. HCP, Inc., et al. , Case No. 3:16-cv-01106-JJH, in the U.S. District Court for the Northern District of Ohio against the Company and certain of its officers, and HCRMC and certain of its officers, asserting violations of the federal securities laws. The suit asserts claims under sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and alleges that the Company made certain false or misleading statements relating to the value of and risks concerning its investment in HCRMC by allegedly failing to disclose that HCRMC had engaged in billing fraud, as alleged by the U.S. Department of Justice in a pending suit against HCRMC arising from the False Claims Act. The plaintiff in the suit demands compensatory damages (in an unspecified amount), costs and expenses (including attorneys’ fees and expert fees), and equitable, injunctive, or other relief as the Court deems just and proper. As the Boynton Beach action is in its early stages and a lead plaintiff has not yet been named, the defendants have not yet responded to the complaint. The Company believes the suit to be without merit and intends to vigorously defend against it. On June 16, 2016 and July 5, 2016, purported stockholders of the Company filed two derivative actions, respectively Subodh v. HCR ManorCare Inc., et al. , Case No. 30-2016-00858497-CU-PT-CXC and Stearns v. HCR ManorCare, Inc., et al. , Case No. 30-2016-00861646-CU-MC-CJC, in the Superior Court of California, County of Orange, against certain of the Company’s current and former directors and officers and HCRMC. The Stearns action was subsequently consolidated by the Court with the Subodh action. The Company is named as a nominal defendant. The consolidated derivative action alleges that the defendants engaged in various acts of wrongdoing, including, among other things, breaching fiduciary duties by publicly making false or misleading statements of fact regarding HCRMC’s finances and prospects, and failing to maintain adequate internal controls. The plaintiffs demand damages (in an unspecified amount), pre-judgment and post-judgment interest, a directive that the Company and the individual defendants improve the Company's corporate governance and internal procedures (including putting resolutions to amend the bylaws or charter to a stockholder vote), restitution from the individual defendants, costs (including attorneys’ fees, experts’ fees, costs, and expenses), and further relief as the Court deems just and proper. As the Subodh action is in the early stages, the defendants are in the process of evaluating the suit and have not yet responded to the complaint. On June 9, 2016, and on August 25, 2016, the Company received letters from a private law firm, acting on behalf of its clients, purported stockholders of the Company, each asserting substantially the same allegations made in the Subodh and Stearns matters discussed above. Each letter demands that the Company’s Board of Directors take action to assert the Company’s rights. The Board of Directors is in the process of evaluating the demand letters. The Company is unable to estimate the ultimate individual or aggregate amount of monetary liability or financial impact with respect to matters discussed above as of December 31, 2016. 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 the Company’s material commitments, excluding debt servicing obligations (see Note 11), at December 31, 2016 (in thousands): More than Total(1) 2017 2018-2019 2020-2021 Five Years U.K. loan commitments (2) — — Construction loan commitments (3) — — — Development commitments (4) — — Ground and other operating leases Total $ $ $ $ $ (1) Excludes the $100 million Unsecured Revolving Credit Facility commitment to QCP, which is available to be drawn on by QCP through the fourth quarter of 2017 and matures in the fourth quarter of 2018. The Unsecured Revolving Credit Facility will automatically and permanently decrease each calendar month by an amount equal to 50% of QCP’s and its restricted subsidiaries’ retained cash flow for the prior calendar month. All borrowings under the Unsecured Revolving Credit Facility will be subject to the satisfaction of certain conditions (see Note 1). (2) Represents £35 million translated into USD for commitments to fund the Company’s U.K. loan facilities. (3) Represents commitments to finance development projects and related working capital financings. (4) Represents construction and other commitments for developments in progress. Credit Enhancement Guarantee Certain of the Company’s senior housing facilities serve as collateral for $91 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 $629 million as of December 31, 2016. 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 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 non-cash and deferred revenues). Rental Expense The Company’s rental expense attributable to continuing operations for the years ended December 31, 2016, 2015 and 2014 was $10 million, $10 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, 2016 were as follows (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ |
Equity
Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity | |
Equity | NOTE 13. Equity Common Stock On February 2, 2017, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.37 per share. The common stock cash dividend will be paid on March 2, 2017 to stockholders of record as of the close of business on February 15, 2017. During the years ended December 31, 2016, 2015 and 2014, the Company declared and paid common stock cash dividends of $2.095, $2.26 and $2.18 per share, respectively. 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. There was no activity during the year ended December 31, 2016. The following table summarizes the Company’s other common stock activities (shares in thousands): Year Ended December 31, 2016 2015 2014 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 table summarizes the Company’s accumulated other comprehensive loss (in thousands): December 31, 2016 2015 Cumulative foreign currency translation adjustment $ $ Unrealized losses on cash flow hedges, net Supplemental Executive Retirement Plan minimum liability Unrealized (losses) 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 and acquired through a sale-leaseback transaction with Memorial Hermann in June 2015. At December 31, 2016, there were 4 million non-managing member units (7 million shares of HCP common stock are issuable upon conversion) outstanding in five DownREIT LLCs, all of which the Company is the managing member of. At December 31, 2016, the carrying and market values of the four million DownREIT units were $179 million and $199 million, respectively. See Note 20 for the supplemental schedule of non-cash financing activities. |
Segment Disclosures
Segment Disclosures | 12 Months Ended |
Dec. 31, 2016 | |
Segment Disclosures | |
Segment Disclosures | NOTE 14. Segment Disclosures The Company evaluates its business and allocates resources based on its reportable business segments: (i) SH NNN, (ii) SHOP, (iii) life science and (iv) medical office. Under the medical office segment, the Company invests through the acquisition and development of medical office buildings (“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. The Company has non-reportable segments that are comprised primarily of the Company’s debt investments, hospital properties and U.K. care homes. The accounting policies of the segments are the same as those described under Summary of Significant Accounting Policies (see Note 2). During the year ended December 31, 2016, 17 SH NNN facilities were transitioned to a RIDEA structure (reported in the Company’s SHOP segment). There were no intersegment sales or transfers during the years ended December 31, 2015 and 2014. The Company evaluates performance based upon: (i) property net operating income from continuing operations (“NOI”) and (ii) adjusted NOI (cash NOI) of the combined consolidated and unconsolidated 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 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. The following tables summarize information for the reportable segments (in thousands): For the year ended December 31, 2016: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — Less: Operating expenses — HCP share of unconsolidated JV operating expenses — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization — General and administrative — — — — — Acquisition and pursuit costs — — — — — Gain on sales of real estate, net — Loss on debt extinguishments — — — — — Other income, net — — — — — Income tax expense — — — — — Less: HCP share of unconsolidated JV NOI — — Equity income from unconsolidated joint ventures — — Total discontinued operations — — — — — Net income (loss) $ $ $ $ $ $ $ For the year ended December 31, 2015: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — Less: — Operating expenses — HCP share of unconsolidated JV operating expenses — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization — General and administrative — — — — — Acquisition and pursuit costs — — — — — Impairments, net — — — — — Gain on sales of real estate, net — — — — Other income, net — — — — — Income tax benefit — — — — — Less: HCP share of unconsolidated JV NOI — — Equity (loss) income from unconsolidated joint ventures — — — Total discontinued operations — — — — — Net income (loss) $ $ $ $ $ $ $ For the year ended December 31, 2014: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — — Less: Operating expenses — HCP share of unconsolidated JV operating expenses — — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization General and administrative — — — — — Acquisition and pursuit costs — — — — — Gain on sales of real estate, net — — — — — Other income, net — — — — — Income tax benefit — — — — — Less: HCP share of unconsolidated JV NOI — — — Equity (loss) income from unconsolidated joint ventures — — — Total discontinued operations — — — — — Net income $ $ $ $ $ $ $ (1) Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles and lease termination fees . The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2016 2015 2014 SH NNN $ $ $ SHOP Life science Medical office Other non-reportable segments Total revenues $ $ $ The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segments 2016 2015 SH NNN $ $ SHOP Life science Medical office Gross reportable segment assets Accumulated depreciation and amortization Net reportable segment assets Other non-reportable segment assets Assets held for sale and discontinued operations, net Other non-segment assets Total assets $ $ As a result of a change in reportable segments, the Company allocated goodwill to the new reporting units using a relative fair value approach. The Company completed a goodwill impairment assessment for all reporting units immediately prior to the reallocation and determined that no impairment existed at September 30, 2016. Additionally, the Company completed the required annual impairment test during the fourth quarter of 2016 and no impairment was recognized. At December 31, 2016, goodwill of $42 million was allocated to segment assets as follows: (i) SH NNN—$16 million, (ii) SHOP—$9 million, (iii) medical office—$11 million and (iv) other—$6 million. At December 31, 2015, goodwill of $47 million was allocated to segment assets as follows: (i) SH NNN—$21 million, (ii) SHOP—$9 million, (iii) medical office—$11 million and (iv) other—$6 million. |
Future Minimum Rents
Future Minimum Rents | 12 Months Ended |
Dec. 31, 2016 | |
Future Minimum Rents | |
Future Minimum Rents | NOTE 15. Future Minimum Rents The following table summarizes future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases as of December 31, 2016 (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ |
Compensation Plans
Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
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, and as of December 31, 2016, 31 million of the reserved shares under the 2014 Plan are available for future awards of which 21 million shares may be issued as restricted stock and restricted stock units. Total share-based compensation expense recognized during the years ended December 31, 2016, 2015 and 2014 was $23 million, $26 million and $22 million, respectively. The year ended December 31, 2016 includes a $7 million charge recognized in general and administrative expenses primarily resulting from the termination of the Company’s former chief executive officer (“CEO”) that was comprised of the accelerated vesting of restricted stock units in accordance with the terms of the former CEO’s employment agreement. As of December 31, 2016 and 2015, there was $14 million and $19 million, respectively, 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. Conversion of Equity Awards at the Spin-Off Date The Plans were established with anti-dilution provisions, such that in the event of an equity restructuring of the Company (including spin-off transactions), equity awards would preserve their value post-transaction. In order to achieve an equitable modification of the existing awards following the Spin-Off, the Company converted pre-spin awards to their post-spin value, resulting in grants to remaining employees denominated solely in the Company’s common stock. The modification assumed a conversion ratio on all awards calculated as the final pre-spin closing price of the Company’s common stock divided by the five trading day average post-spin closing price (“Five Day Average Price”) of the Company’s common stock. The conversion impacted 133 participants, resulted in additional awards being granted and incremental fair value of unvested awards due to the difference between the Five Day Average Price and the pre-spin closing price on the Spin-Off date. The vesting periods were unchanged for unvested grants at the Spin-Off date. The incremental fair value of unvested awards was immaterial. 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 exercise, a participant is required to pay the exercise price of the stock options being exercised and the related tax withholding obligation. There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 1.3 million and 1.2 million at December 31, 2016, respectively, and 1.7 million and 1.4 million at December 31, 2015, respectively. Proceeds received from stock options exercised under the Plans for the years ended December 31, 2016, 2015 and 2014 were $4 million, $28 million and $5 million, respectively. Compensation expense related to stock options was immaterial for all periods presented. Restricted Stock Awards Under the Plans, restricted stock awards, including restricted stock units and performance stock units are granted subject to certain restrictions. Conditions of vesting are determined at the time of grant. Restrictions on certain awards generally lapse, as provided in the Plans or in the applicable award agreement, upon retirement, a change in control or other specified events. The fair market value of restricted stock awards, both time vesting and those subject to specific performance criteria, are expensed over the period of vesting. Restricted stock units, which vest based solely upon passage of time generally vest over a period of one to four years. The fair value of restricted stock units is determined based on the closing market price of the Company's shares on the grant date. Performance stock units, which are restricted stock awards that vest dependent upon attainment of various levels of performance that equal or exceed targeted levels, generally vest in their entirety at the end of a three year performance period. The number of shares that ultimately vest can vary from 0% to 200% of target depending on the level of achievement of the performance criteria. The fair value of performance stock units is determined based on the Monte Carlo valuation model. The compensation expense recognized for all restricted stock awards is net of forfeitures. Upon vesting of restricted stock awards, 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 the years ended December 31, 2016, 2015 and 2014, the Company withheld 237,000, 200,000 and 323,000 shares, respectively, to offset tax withholding obligations with respect to the vesting of the restricted stock and performance restricted stock unit awards. Holders of restricted stock awards, including restricted stock units and performance stock units, are generally entitled to receive dividends equal to the amount that would be paid on an equivalent number of shares of common stock. The following table summarizes restricted stock award activity, including performance stock units, for the year ended December 31, 2016 (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, 2016 $ $ Granted — — Vested Forfeited — — Unvested at December 31, 2016 — — At December 31, 2016, the weighted average remaining vesting period of restricted stock and performance based units was one year. The total fair value (at vesting) of restricted stock and performance based units which vested for the years ended December 31, 2016, 2015 and 2014 was $24 million, $21 million and $24 million, respectively. |
Impairments
Impairments | 12 Months Ended |
Dec. 31, 2016 | |
Impairments | |
Impairments | NOTE 17. Impairments 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 to Four Seasons 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). 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). Through October 2015, the Company held a secured term loan made to Delphis Operations, L.P. (“Delphis”). In October 2015, the Company received $23 million in cash proceeds from the sale of Delphis’ collateral and recognized an impairment recovery of $6 million for the amount received in excess of the loan’s carrying value. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
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 from continuing operations of $9 million, $22 million and $2 million for the years ended December 31, 2016, 2015 and 2014, respectively. The REIT’s losses from continuing operations before income taxes from the U.K. were $4 million, $15 million and $4 million for the years ended December 31, 2016, 2015 and 2014, respectively. The total income tax expense (benefit) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2016 2015 2014 Current Federal $ $ $ State Foreign Total current $ $ $ Deferred Federal $ $ $ State Foreign Total deferred $ $ $ Total income tax expense (benefit) $ $ $ The Company’s income tax expense from discontinued operations was $48 million, $1 million and $1 million for the years ended December 31, 2016, 2015 and 2014, respectively (see Note 5). The following table reconciles the income tax expense (benefit) from continuing operations at statutory rates to the actual income tax expense recorded (in thousands): Year Ended December 31, 2016 2015 2014 Tax benefit 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 expense (benefit) $ $ $ 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 following table summarizes the significant components of the Company’s deferred tax assets and liabilities from continuing operations (in thousands): December 31, 2016 2015 2014 Property, primarily differences in depreciation and amortization, the basis of land, 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, 2016 the Company had a net operating loss (“NOL”) carryforward of $24 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 Company files numerous U.S. federal, state and local income and franchise tax returns. With a few exceptions, the Company is no longer subject to U.S. federal, state, or local tax examinations by taxing authorities for years prior to 2013. For the year ended December 31, 2016, the tax basis of the Company’s net assets was less than the reported amounts by $2.0 billion. The difference between the reported amounts and the tax basis was primarily related to the Slough Estates USA, Inc. (“SEUSA”) acquisition, which occurred in 2007. For each of the years ended December 31, 2015 and 2014, the tax basis of the Company’s net assets was less than the reported amounts by $6.5 billion. The difference between the reported amounts and the tax basis was primarily related to the 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 company’s assets and liabilities. The Company is no longer subject to federal corporate-level tax on the taxable disposition of SEUSA pre-acquisition assets. However, the Company may be subject to corporate-level tax in some states on any taxable disposition that occurs within ten years after the August 1, 2007 acquisition, 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. In connection with the HCRMC acquisition, the Company assumed unrecognized tax benefits of $2 million. For the year ended December 31, 2014, the Company had a decrease in unrecognized tax benefits of $1 million. There were no unrecognized tax benefits balances at December 31, 2016 and 2015. 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. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 Numerator Income from continuing operations $ $ $ Noncontrolling interests’ share in continuing operations Income from continuing operations applicable to HCP, Inc. Participating securities’ share in continuing operations Income from continuing operations applicable to common shares Discontinued operations Noncontrolling interests’ share in discontinued operations — — Net income (loss) applicable to common shares $ $ $ Denominator Basic weighted average common shares Dilutive potential common shares — Diluted weighted average common shares Basic earnings per common share Income from continuing operations $ $ $ Discontinued operations Net income (loss) applicable to common shares $ $ $ Diluted earnings per common share Income from continuing operations $ $ $ Discontinued operations Net income (loss) 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. Options to purchase 1.1 million and 1.4 million 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, 2016 and 2014, respectively, were not included because they are anti-dilutive. Additionally, 7 million shares, issuable upon conversion of 4 million DownREIT units during the year ended December 31, 2016 were not included because they are anti-dilutive. For the year ended December 31, 2015, the Company generated a net loss. The 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. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Information | |
Supplemental Cash Flow Information | NOTE 20. Supplemental Cash Flow Information The following table summarizes supplemental cash flow information (in thousands): Year Ended December 31, 2016 2015 2014 Supplemental cash flow information: Interest paid, net of capitalized interest $ $ $ Income taxes paid Capitalized interest Supplemental disclosure of non-cash investing and financing activities: Accrued construction costs Non-cash impact of QCP Spin-Off, net — — Securities transferred for debt defeasance — — 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 Vesting of restricted stock units 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 in Note 3 and the Spin-Off in Note 5. |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2016 | |
Variable Interest Entities | |
Variable Interest Entities | NOTE 21. Variable Interest Entities On January 1, 2016, the Company adopted ASU 2015-02 using the modified retrospective method as permitted by the ASU. As a result of the adoption, the Company identified additional assets and liabilities of certain VIEs in its consolidated total assets and total liabilities at December 31, 2015 of $543 million and $651 million, respectively. Refer to the specific VIE descriptions below for detail on which entities were classified as consolidated VIEs subsequent to the adoption of ASU 2015-02. Additionally, the Company deconsolidated three JVs and recognized $0.5 million as a cumulative-effect adjustment to cumulative dividends in excess of earnings. Unconsolidated Variable Interest Entities At December 31, 2016, the Company had investments in: (i) three unconsolidated VIE joint ventures; (ii) 48 properties leased to VIE tenants; (iii) marketable debt securities of two VIEs and (iv) two loans to VIE borrowers. The Company has determined that it is not the primary beneficiary of and therefore 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 JVs (CCRC OpCo, Vintage Park Development JV and the LLC investment discussed below), it has no formal involvement in these VIEs beyond its investments. 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 and 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, debt service payments and capital expenditures for the properties, 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 from debt service payments, capital expenditures, and rental costs and operating expenses incurred to manage such facilities). The Company holds an 85% ownership interest in Vintage Park Development JV (see Note 8), which has been identified as a VIE as power is shared with a member that does not have a substantive equity investment at risk. The assets of Vintage Park Development JV 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 its development obligations. Any assets generated by Vintage Park Development JV may only be used to settle its contractual obligations (primarily development expenses and debt service payments). The Company holds a limited partner ownership interest in an unconsolidated LLC that has been identified as a VIE. The Company’s involvement in the entity is limited to its equity investment as a limited partner, and it does not have any substantive participating rights or kick-out rights over the managing member. The assets and liabilities of the entity primarily consist of those associated with its senior housing real estate and development activities. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development expenses and debt service payments). The Company leases 48 properties to a total of seven tenants that have also been identified as VIEs (“VIE tenants”). These 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 commercial mortgage-backed securities (“CMBS”) issued by Federal Home Loan Mortgage Corporation (commonly referred to as Freddie MAC) through a special purpose entity that has been identified as a VIE because it is “thinly capitalized.” The CMBS issued by the VIE are backed by mortgage debt obligations on real estate assets. The Company holds Four Seasons Notes (see Note 10) and a portion of Four Seasons’ senior secured term loan (see Note 6). In the second quarter of 2015, upon the occurrence of a reconsideration event, it was determined that the issuer of the Four Seasons Notes is a VIE because this entity is “thinly capitalized” (see Note 17). The Company provided a £105 million ($131 million) bridge loan to Maria Mallaband Care Group Ltd. (“MMCG”) to fund the acquisition of a portfolio of care homes in the U.K. MMCG created a special purpose entity to acquire the portfolio and funded it entirely using the Company’s bridge loan. As such, the special purpose entity has been identified as a VIE because it is “thinly capitalized.” The Company retains a three-year call option to acquire all the shares of the special purpose entity, which it can only exercise upon the occurrence of certain events. The Company provided seller financing of $10 million related to its sale of seven SH NNN facilities. The financing was provided in the form of a secured five-year mezzanine loan to a “thinly capitalized” borrower created to acquire the facilities. 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, 2016 are presented below (in thousands): Maximum Loss Carrying VIE Type Exposure (1) Asset/Liability Type Amount VIE tenants—DFLs(2) $ Net investment in DFLs $ VIE tenants—operating leases(2) Lease intangibles, net and straight-line rent receivables CCRC OpCo Investments in unconsolidated JVs Vintage Park Development JV Investments in unconsolidated JVs Four Seasons Loans and marketable debt securities Loan—senior secured Loans receivable, net Loan—seller financing Loans receivable, net CMBS and LLC investment Marketable debt and cost method investment (1) The Company’s maximum loss exposure represents the aggregate carrying amount of such investments (including accrued interest). (2) The Company’s maximum loss exposure may be mitigated by re-leasing the underlying properties to new tenants upon an event of default. As of December 31, 2016, 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 and 10 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 JV entities formed in September 2011 that own and operate senior housing properties in a RIDEA structure (“RIDEA I”). The Company has historically classified RIDEA I OpCo as a VIE and, as a result of the adoption of ASU 2015-02, also classifies RIDEA I PropCo as a VIE due to the non-managing member lacking substantive participation rights in the management of RIDEA I PropCo or kick-out rights over the managing member. The Company consolidates RIDEA I PropCo and RIDEA I 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 RIDEA I PropCo primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of notes payable to a non-VIE consolidated subsidiary of the Company. 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 RIDEA I 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 I structure may only be used to settle its contractual obligations (primarily from the rental costs, operating expenses incurred to manage such facilities and debt costs). RIDEA II . The Company holds an 80% ownership interest in JV 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, operating expenses incurred to manage such facilities and debt costs). See Note 4 for additional discussion of pending RIDEA II transactions. RIDEA III . The Company holds a 90% ownership interest in JV entities formed in June 2015 that own and operate senior housing properties in a RIDEA structure. The Company has historically classified RIDEA III OpCo as a VIE and, as a result of the adoption of ASU 2015-02, also classifies RIDEA III PropCo as a VIE due to the non-managing member lacking substantive participation rights in the management of RIDEA III PropCo or kick-out rights over the managing member. The Company consolidates RIDEA III PropCo and RIDEA III 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 RIDEA III 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 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 RIDEA III 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 III structure may only be used to settle its contractual obligations (primarily from the rental costs, operating expenses incurred to manage such facilities and debt costs). HCP Ventures V, LLC . The Company holds a 51% ownership interest in and is the managing member of a JV entity formed in October 2015 that owns and leases MOBs (HCP Ventures V). Upon adoption of ASU 2015-02, the Company classified HCP Ventures V as a VIE due to the non-managing member lacking substantive participation rights in the management of HCP Ventures V or kick-out rights over the managing member. The Company consolidates HCP Ventures V 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 HCP Ventures V primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the properties. Assets generated by HCP Ventures V may only be used to settle its contractual obligations (primarily from capital expenditures). Vintage Park JV . The Company holds a 90% ownership interest in a JV entity formed in January 2015 that owns an 85% interest in an unconsolidated development VIE (“Vintage Park JV”). Upon adoption of ASU 2015-02, the Company classified Vintage Park JV as a VIE due to the non-managing member lacking substantive participation rights in the management of the Vintage Park JV or kick-out rights over the managing member. The Company consolidates Vintage Park JV 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 Vintage Park JV primarily consist of an investment in the Vintage Park Development JV and cash and cash equivalents; its obligations primarily consist of funding the ongoing development of the Vintage Park Development JV. Assets generated by the Vintage Park JV may only be used to settle its contractual obligations (primarily from the funding of the Vintage Park Development JV). DownREITs . The Company holds a controlling ownership interest in and is the managing member of five DownREITs (see Note 12). Upon adoption of ASU 2015-02, the Company classified the DownREITs as VIEs due to the non-managing members lacking substantive participation rights in the management of the DownREITs or kick-out rights over the managing member. The Company consolidates the DownREITs as the primary beneficiary because it has the ability to control the activities that most significantly impact these VIEs’ economic performance. The assets of the DownREITs primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; their obligations primarily consist of debt service payments and capital expenditures for the properties. Assets generated by the DownREITs (primarily from resident rents) may only be used to settle their contractual obligations (primarily from debt service and capital expenditures). Other Consolidated Real Estate Partnerships . The Company holds a controlling ownership interest in and is the general partner (or managing member) of multiple partnerships that own and lease real estate assets (the “Partnerships”). Upon adoption of ASU 2015-02, the Company classified the Partnerships as VIEs due to the limited partners (non-managing members) lacking substantive participation rights in the management of the Partnerships or kick-out rights over the general partner (managing member). The Company consolidates the Partnerships as the primary beneficiary because it has the ability to control the activities that most significantly impact these VIEs’ economic performance. The assets of the Partnerships primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; their obligations primarily consist of debt service payments and capital expenditures for the properties. Assets generated by the Partnerships (primarily from resident rents) may only be used to settle their contractual obligations (primarily from debt service and capital expenditures). 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 JV (“Development JV”) both of which are considered VIEs. The Company consolidates the Tax Credit Subsidiary and Development JV as the primary beneficiary because 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 a 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. Exchange Accommodation Titleholder . During the year ended December 31, 2016, the Company acquired a MOB (the "acquired property") using a reverse like-kind exchange structure pursuant to Section 1031 of the Internal Revenue Code (a "reverse 1031 exchange"). As of December 31, 2016, the Company had not completed the reverse 1031 exchange and as such, the acquired property remained in the possession of an Exchange Accommodation Titleholder ("EAT"). The EAT is classified as a VIE as it is a “thinly capitalized” entity. The Company consolidates the EAT because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the EAT's economic performance. The property held by the EAT is reflected as real estate with a carrying value of $37 million as of December 31, 2016. The assets of the EAT primarily consist of a leased property (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the property. Assets generated by the EAT may only be used to settle its contractual obligations (primarily from capital expenditures) . |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Measurements | |
Fair Value Measurements | NOTE 22. Fair Value Measurements Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2016 in the consolidated balance sheets are immaterial. The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2016 (4) 2015 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 liabilities (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 (i) for marketable debt securities, quoted prices for similar or identical instruments in active or inactive markets, respectively, or (ii) or for loans receivable, net, mortgage debt, and swaps, calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets. For 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 credit rating . (3) Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models. (4) During the years ended December 31, 2016 and 2015, there were no material transfers of financial assets or liabilities within the fair value hierarchy. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2016 | |
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 credit risks. The Company does not have significant foreign operations. The following table provides information regarding the Company’s concentrations with respect to Brookdale as a tenant as of and for the periods presented: Percentage of Gross Assets Percentage of Revenues Total Company SH NNN Total Company SH NNN December 31, December 31, Year Ended December 31, Year Ended December 31, Tenant 2016 2015 2016 2015 2016 2015 2014 2016 2015 2014 Brookdale (1) (1) Includes revenues from 64 SH NNN facilities that were classified as held for sale at December 31, 2016. 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 the year ended December 31, 2014 are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of January 1, 2014. Excludes senior housing facilities operated by Brookdale in the Company’s SHOP segment, as discussed below. As of December 31, 2016 and 2015, Brookdale managed or operated, in the Company’s SHOP segment, approximately 18% and 17%, respectively, of the Company’s real estate investments based on gross assets. Because an operator manages the Company’s facilities in exchange for the receipt of a management fee, the Company is not directly exposed to the credit risk of its operators in the same manner or to the same extent as its triple-net tenants. As of December 31, 2016, Brookdale provided comprehensive facility management and accounting services with respect to 108 of the Company’s senior housing facilities and 16 SHOP facilities owned by its unconsolidated joint ventures, 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. The following table provides information regarding the Company’s concentrations with respect to certain states; the information provided is presented for the gross assets and revenues that are associated with certain real estate assets as percentages of total Company’s gross assets and revenues: Percentage of Total Percentage of Company Gross Assets Total Company Revenues December 31, Year Ended December 31, State 2016 2015 2016 2015 2014 California Texas |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 (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 $ $ January 2015 (3) October 2017 Cash Flow % 1 Month GBP LIBOR+0.975% £ Foreign currency: January 2015 (4) 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) Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate. (4) 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 £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. Assuming a one percentage point change in the underlying interest rate curve and foreign currency exchange rates, the estimated change in fair value of each of the underlying derivative instruments would not exceed $3 million. As of December 31, 2016, £268 million of the Company’s GBP-denominated borrowings under the Facility and 2012 term loan are designated as a hedge of a portion of the Company’s net investment 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 accumulated other comprehensive income (loss). Accordingly, the remeasurement value of the designated £268 million GBP-denominated borrowings due to fluctuations in the GBP to USD exchange rate are reported in accumulated other comprehensive income (loss) 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. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Data (Unaudited) | |
Selected Quarterly Financial Data (Unaudited) | NOTE 25. Selected Quarterly Financial Data (Unaudited) The following table summarizes selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands, except per share amounts): Three Months Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Total discontinued operations Income before income taxes and equity income from investments in unconsolidated joint ventures Net income Net income applicable to HCP, Inc. Basic earnings per common share Diluted earnings per common share Three Months Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Total discontinued operations Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share Diluted earnings per common share The above selected quarterly financial data includes the following significant transactions: · The quarter ended December 31, 2016 includes the following related to the Spin-Off: (i) $46 million of loss on debt extinguishment and (ii) $58 million of transaction costs. · The quarter ended June 30, 2016 includes $120 million of gain on sales from real estate dispositions. · The quarter ended March 31, 2016 includes $53 million of income tax expense associated with state built-in gain tax payable upon the disposition of specific real estate assets, of which $49 million relates to the HCRMC real estate portfolio. · During the quarter ended December 31, 2015, the Company recorded net impairment charges of: (i) $817 million related to its DFL investments with HCRMC and (ii) $19 million related to its equity investment in HCRMC, both of which are included in discontinued operations. · During the quarter ended September 30, 2015, the Company recorded impairment charges of: (i) $70 million related to its Four Seasons Notes and (ii) $27 million related to its equity investment in HCRMC that is included in discontinued operations. · During the quarter ended June 30, 2015, the Company recorded an impairment charge of $42 million related to its Four Seasons Notes. · During the quarter ended March 31, 2015, the Company recorded a net impairment charge of $478 million related to its DFL investments with HCRMC that is included in discontinued operations. |
Schedule II_ Valuation and Qual
Schedule II: Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Schedule II: Valuation and Qualifying Accounts | |
Schedule II: Valuation and Qualifying Accounts | PART I ITEM 1 (a) 1. Financial Statement Schedules 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 2016 $ $ $ — $ $ $ 2015 — 2014 — (1) Includes allowance for doubtful accounts, straight-line rent reserves, and allowances for loan and direct financing lease losses and excludes discontinued operations of $818 million and $1 million for the years ended December 31, 2015 and 2014, respectively. |
Schedule III_ Real Estate and A
Schedule III: Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed Senior housing triple-net 1107 Huntsville AL $ — $ $ $ $ $ $ $ 0786 Douglas AZ — 0518 Tucson AZ — 1238 Beverly Hills CA — 0883 Carmichael CA — 2204 Chino Hills CA — 0851 Citrus Heights CA — 2092 Clearlake CA — 0790 Concord CA 0787 Dana Point CA — 0798 Escondido CA 2054 Fortuna CA — 2079 Fortuna CA — 0791 Fremont CA — 0788 Granada Hills CA — 0227 Lodi CA — 0226 Murietta CA — 1165 Northridge CA — 1168 Palm Springs CA — 0789 Pleasant Hill CA 2205 Roseville CA — 1167 Santa Rosa CA — 0793 South San Francisco CA — 0792 Ventura CA — 2055 Yreka CA — 0512 Denver CO — 1000 Greenwood Village CO — 2144 Glastonbury CT — 0730 Torrington CT — 0861 Apopka FL — 0852 Boca Raton FL — 1002 Coconut Creek FL — 2467 Ft Myers FL — 1095 Gainesville FL — 0490 Jacksonville FL — 1096 Jacksonville FL — 1017 Palm Harbor FL — 0732 Port Orange FL — 2194 Springtree FL — 0802 St. Augustine FL — 1097 Tallahassee FL — 1605 Vero Beach FL — 1257 Vero Beach FL — 1098 Alpharetta GA — 1099 Atlanta GA — 2108 Buford GA — 2109 Buford GA — 2053 Canton GA — 2165 Hartwell GA — 2066 Lawrenceville GA — 1241 Lilburn GA — 1112 Marietta GA — 2086 Newnan GA — 1005 Oak Park IL — 1162 Orland Park IL — 1237 Wilmette IL — 1105 Louisville KY — 2115 Murray KY — 1158 Plymouth MA — 1249 Frederick MD — 0281 Westminster MD — 0546 Cape Elizabeth ME — 0545 Saco ME — 1258 Auburn Hills MI — 1248 Farmington Hills MI — 1259 Sterling Heights MI — 1235 Des Peres MO — 1236 Richmond Heights MO — 0853 St. Louis MO — 2074 Oxford MS — 0878 Charlotte NC — 2465 Charlotte NC — 1119 Concord NC — 2468 Franklin NC — 2126 Mooresville NC — 2466 Raeford NC — 1254 Raleigh NC — 2127 Minot ND — 2169 Lexington NE — 1599 Cherry Hill NJ — 1239 Cresskill NJ — 0734 Hillsborough NJ — 1242 Madison NJ — 0733 Manahawkin NJ — 1231 Saddle River NJ — 0245 Voorhees Township NJ — 2161 Rio Rancho NM — 2121 Roswell NM — 2150 Roswell NM — 0796 Las Vegas NV — 2110 Las Vegas NV — 1252 Brooklyn NY — 1256 Brooklyn NY — 2177 Clifton Park NY — 2174 Orchard Park NY — 2175 Orchard Park NY — 1386 Marietta OH — 1253 Youngstown OH — 2083 Oklahoma City OK — 2139 Gresham OR — 2182 Hermiston OR 2131 Keizer OR 2152 McMinnville OR — 2089 Newberg OR — 2133 Portland OR — 2151 Portland OR — 2171 Portland OR — — — — 2050 Redmond OR — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2084 Roseburg OR — 2134 Scappoose OR — 2153 Scappoose OR — 2056 Stayton OR — 2058 Stayton OR — 2088 Tualatin OR — — — — 2180 Windfield Village OR 1163 Haverford PA — 2063 Selinsgrove PA — 1967 Cumberland RI — 1972 Smithfield RI — 1973 South Kingstown RI — 1975 Tiverton RI — 1104 Aiken SC — 1100 Charleston SC — 1109 Columbia SC — 2154 Florence SC — 0306 Georgetown SC — 0879 Greenville SC — 0305 Lancaster SC — 0880 Myrtle Beach SC — 0312 Rock Hill SC — 1113 Rock Hill SC — 0313 Sumter SC — 2067 West Columbia SC — 2132 Cordova TN — 2060 Franklin TN — 2073 Kingsport TN — 1003 Nashville TN — 0843 Abilene TX — 2107 Amarillo TX — 1116 Arlington TX — 0511 Austin TX — 2075 Bedford TX — 0844 Burleson TX — 0848 Cedar Hill TX — 1325 Cedar Hill TX — 0506 Friendswood TX — 0217 Houston TX — 1106 Houston TX — 0845 North Richland Hills TX — 0846 North Richland Hills TX — 2162 Portland TX — 2116 Sherman TX — 0847 Waxahachie TX — 2470 Abingdon VA — 1244 Arlington VA — 1245 Arlington VA — 0881 Chesapeake VA — 1247 Falls Church VA — 1164 Fort Belvoir VA — 1250 Leesburg 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 — 2170 Madison WI — 2117 Bridgeport WV — 2148 Sheridan WY — $ $ $ $ $ $ $ $ Senior housing operating portfolio 2366 Little Rock AR — 2384 Prescott AZ — 1974 Sun City AZ 2362 Camarillo CA — 2352 Carlsbad CA — 2399 Corona CA — 2364 Elk Grove CA — 1965 Fresno CA 2593 Irvine CA — 2369 Rancho Mirage CA — 2380 Roseville CA — 2353 San Diego CA — 2354 San Juan Capistrano CA — 1966 Sun City CA Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2505 Arvada CO — 2506 Boulder CO — 2373 Colorado Springs CO — 2515 Denver CO — 2507 Englewood CO — 2508 Lakewood CO — 2509 Lakewood CO — 2355 Woodbridge CT — 2519 Altamonte Springs FL — 2521 Altamonte Springs FL — — — — — 2603 Boca Raton FL — 1963 Boynton Beach FL 1964 Boynton Beach FL 2602 Boynton Beach FL — 2520 Clearwater FL — 2601 Delray Beach FL — 2517 Ft Lauderdale FL — 2351 Gainesville FL — 2518 Lake Worth FL — 2592 Lantana FL — 1968 Largo FL 2522 Lutz FL — — 2523 Orange City FL — 1970 Palm Beach Gardens FL 2524 Port St Lucie FL — 1971 Sarasota FL 2525 Sarasota FL — 2526 Tamarac FL — 2513 Venice FL — 2527 Vero Beach FL — 1976 West Palm Beach FL — 2370 Atlanta GA — 2388 Buford GA — 2395 Marietta GA — 2397 Sioux City IA — 2375 Burr Ridge IL — 2200 Deer Park IL — * 2594 Mount Vernon IL — 1969 Niles IL 1961 Olympia Fields IL 2376 Prospect Heights IL — 2367 Schaumburg IL — 1952 Vernon Hills IL 2595 Indianapolis IN — 2596 W Lafayette IN — 2371 Edgewood KY — 2358 Danvers MA — 2363 Dartmouth MA — 2357 Dedham MA — 2365 Baltimore MD — 2583 Ellicott City MD 2584 Hanover MD 2585 Laurel MD 2541 Olney MD — 2586 Parkville MD 2356 Pikesville MD — 2587 Waldorf MD 2590 Sterling Heights MI — 2374 Charlotte NC — 2359 Paramus NJ — 2387 Albuquerque NM — 2589 Albuquerque NM — 2516 Centerville OH — 2512 Cincinnati OH — 2591 Cincinnati OH — 2597 Fairborn OH — 2372 Oklahoma City OK — 2383 Oklahoma City OK — 2390 Grants Pass OR — 2391 Grants Pass OR — 2392 Grants Pass OR — 2393 Grants Pass OR — 1959 East Providence RI 1960 Greenwich RI 2511 Johnston RI — 1962 Warwick RI 2401 Germantown TN — 2385 Hendersonville TN — 2381 Memphis TN — 2608 Arlington TX — 2377 Austin TX — 2531 Austin TX — 2588 Beaumont TX — 2396 Dallas TX — 2438 Dallas TX — 2528 Graham TX — 2529 Grand Prairie TX — 1955 Houston TX 1957 Houston TX 1958 Houston TX 2402 Houston TX — 2606 Houston TX — 2394 Kerrville TX — 2389 Lubbock TX — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income State/ Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City Country December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2530 N Richland Hills TX — 2379 Plano TX — 2378 San Antonio TX — 2532 San Antonio TX — 2607 San Antonio TX — 2533 San Marcos TX — 1954 Sugar Land TX 2510 Temple TX — 2400 Victoria TX — 2605 Victoria TX — 1953 Webster TX 2534 Wichita Falls TX — 2368 Salt Lake City UT — 2386 St. George UT — 2360 Arlington VA — 2582 Fredericksburg VA — 2581 Leesburg VA 2361 Richmond VA — 2514 Richmond VA — 2382 Appleton WI — 2398 Stevens Point WI — $ $ $ $ $ $ $ $ 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 — 0678 San Diego 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 — 2476 San Diego CA 2477 San Diego CA 2478 San Diego CA — — — — ** 1407 South San Francisco CA — 1408 South San Francisco CA — 1409 South San Francisco CA — 1410 South San Francisco CA — 1411 South San Francisco CA — 1412 South San Francisco CA — 1413 South San Francisco CA — 1414 South San Francisco CA — 1430 South San Francisco CA — 1431 South San Francisco CA — 1435 South San Francisco CA — 1436 South San Francisco CA — 1437 South San Francisco CA — 1439 South San Francisco CA — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 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 — 1449 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 — — 1984 South San Francisco CA — — — * 1985 South San Francisco CA — — — * 1987 South San Francisco CA — — — * 1989 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 — — 2614 South San Francisco CA — 2615 South San Francisco CA — 2616 South San Francisco CA — 9999 Denton TX — — — — — ** 2011 Durham NC 2030 Durham NC — 0464 Salt Lake City UT — 0465 Salt Lake City UT — 0466 Salt Lake City UT — — — 0507 Salt Lake City UT — 0799 Salt Lake City UT — — — 1593 Salt Lake City UT — — — — $ $ $ $ $ $ $ $ Medical office 0638 Anchorage AK — 2572 Springdale AR — — — — — 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 — 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 — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 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 — — — 2577 Naples FL — — — — — 2578 Naples FL — — — — — 0563 Orlando FL — 0833 Pace FL — — 0834 Pensacola FL — — — 0614 Plantation FL — 0673 Plantation FL — 2579 Punta Gorda FL — — — — — 0701 St. Petersburg FL — — — 1210 Tampa FL — 1058 Blue Ridge GA — — — 2576 Statesboro 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 — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 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 — — — 2570 Limerick PA — — — 2234 Philadelphia PA — 2403 Philadelphia PA — 2571 Wilkes-Barre PA — — — — — 2573 Florence SC — — — — — 2574 Florence SC — — — — — 2575 Florence SC — — — — — 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 — 2611 Allen TX — — 2612 Allen TX — — 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 — 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 — 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 Houston TX — — 2547 Houston TX — — 2548 Houston TX — — 2549 Houston TX — — 0590 Irving TX — 0700 Irving TX — — — 1202 Irving TX — 1207 Irving TX — 2613 Kingwood TX — — 1062 Lancaster TX — 2195 Lancaster TX — — 0591 Lewisville TX — 0144 Longview TX — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 0143 Lufkin TX — 0568 Mckinney TX — 0569 Mckinney TX — — — 1079 Nassau Bay TX — — — 0596 N 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 — — — 2559 Shenandoah 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 — 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 — — — $ $ $ $ $ $ $ $ Other non-reportable segments Other-Hospitals 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 — 2031 Slidell LA — — — ** 0886 Dallas TX — 1319 Dallas TX — 1384 Plano TX — 2198 Webster TX — Other-Post-acute/skilled nursing 2469 Rural Retreat VA — Other-United Kingdom 2210 Adlington EG — 2211 Adlington EG — 2216 Alderley Edge EG — 2217 Alderley Edge EG — 2340 Altrincham EG — 2312 Armley EG — 2313 Armley EG — 2309 Ashton under Lyne EG — 2206 Bangor EG — 2207 Batley EG — 2336 Birmingham EG — 2320 Bishopbriggs EG — 2323 Bonnyrigg EG — 2335 Cardiff EG — 2223 Catterick Garrison EG — 2226 Christleton EG — 2327 Croydon EG — 2221 Disley EG — 2227 Disley EG — 2306 Dukinfield EG — 2316 Dukinfield EG — 2317 Dukinfield EG — 2318 Dumbarton EG — 2303 Eckington EG — 2333 Edinburgh EG — 2208 Elstead EG — 2328 Forfar EG — 2214 Gilroyd EG — 2330 Glasgow EG — 2307 Hyde EG — 2324 Lewisham EG — 2332 Linlithgow EG — 2213 Ilkley EG — 2209 Kingswood EG — 2212 Kirk Hammerton EG — 2310 Kirkby EG — Costs Life on Which Capitalized Gross Amount at Which Carried Depreciation in Initial Cost to Company Subsequent As of December 31, 2016 Year Latest Income Encumbrances at Buildings and to Buildings and Accumulated Acquired/ Statement is City State December 31, 2016 Land Improvements Acquisition Land Improvements Total (1) Depreciation Constructed Computed 2304 Knotty Ash EG — 2322 Laindon EG — 2215 Leeds EG — 2326 Limehouse EG — 2321 Luton EG — 2339 Manchester EG — 2225 N Wadebridge EG — 2331 Paisley EG — 2308 Prescot EG — 2305 Prescot EG — 2219 Ripon EG — 2319 Sheffield EG — 2314 Stalybridge EG — 2315 Stalybridge EG — 2218 Stapeley EG — 2325 Stirling EG — 2329 Stirling EG — 2224 Stockton-on-Tees EG — 2220 Thornton-Cleveleys EG — 2228 Upper Wortley EG — 2311 Wigan EG — 2337 Wigan EG — 2338 Wigan EG — 2222 Woolmer Green EG — 2334 Wotton under Edge EG — $ — $ $ $ $ $ $ $ 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. (1) At December 31, 2016, the tax basis of the Company’s net real estate assets is less than the reported amounts by $1.2 billion (unaudited). (b) A summary of activity for real estate and accumulated depreciation follows (in thousands): Year ended December 31, 2016 2015 2014 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 $ $ $ (1) 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, 2016 | |
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 any of the following: (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 DFL 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 property, 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 commences recognition of 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 relate to the reimbursement of real estate taxes, insurance and repairs and maintenance expense. These expenses are recognized as revenue in the period they 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 a 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. |
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: (i) it is probable 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 transactions 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 the cost for the construction and improvement incurred in connection 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 lives. 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. If an asset is classified as held for sale, it is reported at the lower of its carrying value or fair value less costs to sell and no longer depreciated. 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, significant 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. 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 determined 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 on a straight-line basis over the vesting period. Forfeitures of share-based awards are recognized as they occur. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term investments with original 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, changes in fair value related to the effective portion of the derivative instruments are recognized in accumulated other comprehensive income (loss), whereas changes in fair value of the ineffective portion are recognized in earnings. Using certain of its British pound sterling (“GBP”) denominated debt, the Company applies net investment hedge accounting to hedge the foreign currency exposure from its net investment in GBP-functional subsidiaries. The variability of the GBP-denominated debt due to changes in the GBP to U.S. dollar (“USD”) exchange rate (“remeasurement value”) is recognized as part of the cumulative translation adjustment component of accumulated other comprehensive income (loss). 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 its cash flow hedge accounting prospectively and records the appropriate adjustment to earnings based on the current fair value of the derivative instrument. For net investment hedge accounting, upon sale or liquidation of the hedged investment, the cumulative balance of the remeasurement value is reclassified to earnings. |
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 (“TRSs”). TRSs are subject to both federal and state income taxes. The Company recognizes tax penalties relating to unrecognized tax benefits as additional income tax expense. Interest relating to unrecognized tax benefits is recognized as interest expense. |
Marketable Securities | Marketable Securities The Company classifies its marketable equity securities as available for sale. These securities are carried at 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. Penalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts and premiums are recognized as income or expense in the consolidated statements of operations at the time of extinguishment. |
Segment Reporting | Segment Reporting The Company’s reportable segments, based on how it evaluates its business and allocates resources, are as follows: (i) SH NNN, (ii) SHOP, (iii) life science and (iv) medical office. Prior to the third quarter of 2016, the Company operated through five reportable segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. During the third quarter of 2016, primarily as a result of the planned spin-off of QCP, the Company revised its operating analysis structure. The Company believes the change to its reportable segments is appropriate and consistent with how its chief operating decision makers review the Company’s operating results and determine resource allocations. Accordingly, all prior period segment information has been reclassified to conform to the current period presentation. |
Noncontrolling Interests | Noncontrolling Interests Arrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s equity. Net 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 company (“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 March 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 is intended to simplify accounting for share-based payment transactions. The areas for simplification in this update involve several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities and classification on the statements of cash flows. ASU 2016-09 is effective for fiscal years, and interim periods within, beginning after December 15, 2016. Early adoption is permitted. The transition method required by ASU 2016-09 varies based on the specific amendment being adopted. The Company adopted ASU 2016-09 on October 1, 2016; the adoption of which did not have a material impact to its consolidated financial position, results of operations or statements of cash flows. As a result of the new guidance, the Company formally disclosed its policy regarding the treatment of forfeitures of stock compensation awards (see Share-Based Compensation above). 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 2015-16 on January 1, 2016; the adoption of which did not have a material impact on its consolidated financial position or results of operations. In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 requires amendments to both the VIE and voting 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 voting 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 approach 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 January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). The amendments in ASU 2017-04 eliminate the current two-step approach used to test goodwill for impairment and require an entity to apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. ASU 2017-04 is effective for fiscal years, including interim periods within, beginning after December 15, 2019 (upon the first goodwill impairment test performed during that fiscal year). Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. A reporting entity must apply the amendments in ASU 2017-04 using a prospective approach. The Company does not expect the adoption of ASU 2017-04 to have a material impact to its consolidated financial position or results of operations. In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”). The amendments in ASU 2017-01 provide an initial screen to determine if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, in which case, the transaction would be accounted for as an asset acquisition. In addition, ASU 2017-01 clarifies the requirements for a set of activities to be considered a business and narrows the definition of an output. ASU 2017-01 is effective for fiscal years, and interim periods within, beginning after December 15, 2017. Early adoption is permitted. A reporting entity must apply the amendments in ASU 2017-01 using a prospective approach. The Company plans to adopt ASU 2017-01 during the first quarter of 2017. Upon adoption of ASU 2017-01, the Company expects to recognize a majority of its real estate acquisitions and dispositions as asset transactions rather than business combinations which will result in the capitalization of related third party transaction costs. In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash (“ASU 2016-18”). The amendments in ASU 2016-18 require an entity to reconcile and explain the period-over-period change in total cash, cash equivalents and restricted cash within its statements of cash flows. ASU 2016-18 is effective for fiscal years, and interim periods within, beginning after December 15, 2017. Early adoption is permitted. A reporting entity must apply the amendments in ASU 2016-18 using a full retrospective approach. The Company does not expect the adoption of ASU 2016-18 to have a material impact to its consolidated statements of cash flows as the Company does not have material restricted cash activity. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). The amendments in ASU 2016-15 are intended to clarify current guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within, beginning after December 15, 2017. Early adoption is permitted. A reporting entity must apply the amendments in ASU 2016-18 using a full retrospective approach. The Company is currently in compliance with substantially all of the clarifications in ASU 2016-15 and as such, the Company does not expect the adoption of ASU 2016-15 to have a material impact to its consolidated statements of cash flows. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 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 at each reporting period. ASU 2016-01 is effective for fiscal years, and interim periods within, beginning after December 15, 2017. Early adoption is permitted only for updates to certain disclosure requirements. A reporting entity is required to apply the amendments in ASU 2016-01 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The Company does not have any material equity investments, other than those that are accounted for using the equity method of accounting, and as such, does not expect the adoption of ASU 2016-01 to have a material impact to its consolidated financial position or results of operations. In October 2016, the FASB issued ASU No. 2016-16, Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”). The amendments in ASU 2016-16 require an entity to recognize the income tax consequences of intra-entity transfers of assets other than inventory at the time that the transfer occurs. Current guidance does not require recognition of tax consequences until the asset is eventually sold to a third party. ASU 2016-16 is effective for fiscal years, and interim periods within, beginning after December 15, 2017. Early adoption is permitted as of the first interim period presented in a year. A reporting entity must apply the amendments in ASU 2016-16 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The Company is evaluating the impact of the adoption of ASU 2016-16 on January 1, 2018 to its consolidated financial position and results of operations. The Company does not expect the adoption of ASU 2016-16 to have a material impact to its consolidated financial position or results of operations. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 is intended to improve financial reporting by requiring timelier recognition of credit losses on loans and other financial instruments held by financial institutions and other organizations. The amendments in ASU 2016-13 eliminate the “probable” initial threshold for recognition of credit losses in current accounting guidance and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under current accounting guidance, an entity generally only considered past events and current conditions in measuring the incurred loss. The amendments in ASU 2016-13 broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss. ASU 2016-13 is effective for fiscal years, and interim periods within, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within, beginning after December 15, 2018. A reporting entity is required to apply the amendments in ASU 2016-13 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. Upon adoption of ASU 2016-13, the Company is required to reassess its financing receivables, including direct finance leases and loans receivable, and expects that application of ASU 2016-13 may result in the Company recognizing credit losses at an earlier date than would otherwise be recognized under current accounting guidance. As such, the Company is still evaluating the impact of the adoption of ASU 2016-13 on January 1, 2020 to its consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 amends the current accounting for leases to (i) require lessees to put most leases on their balance sheets, but continue recognizing expenses on their income statements in a manner similar to requirements under current accounting guidance, (ii) eliminate current real estate specific lease provisions and (iii) modify the classification criteria and accounting for sales-type leases for lessors. ASU 2016-02 is effective for fiscal years, and interim periods within, beginning after December 15, 2018. Early adoption is permitted. The transition method required by ASU 2016-02 varies based on the specific amendment being adopted. As a result of adopting ASU 2016-02, the Company will recognize all of its operating leases for which it is the lessee, including corporate office leases and ground leases, on its consolidated balance sheets and will capitalize fewer legal costs related to the drafting and execution of its lease agreements. The Company is evaluating the impact of the adoption of ASU 2016-02 on January 1, 2019 to its consolidated financial position and results of operations. Between May 2014 and May 2016, the FASB issued three ASUs changing the requirements for recognizing and reporting revenue (together, herein referred to as the “Revenue ASUs”): (i) ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), (ii) ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”) and (iii) ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”). 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. ASU 2016-08 is intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. ASU 2016-12 provides practical expedients and improvements on the previously narrow scope of ASU 2014-09. In August 2015, the FASB issued ASU 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 within, beginning after December 15, 2017. All subsequent ASUs related to ASU 2014-09, including ASU 2016-08 and ASU 2016-12, assumed the deferred effective date enforced by ASU 2015-14. Early adoption of the Revenue ASUs is permitted for annual periods, and interim periods within, beginning after December 15, 2016. A reporting entity may apply the amendments in the Revenue ASUs using either a modified retrospective approach, by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or full retrospective approach. The Company is evaluating the complete impact of the adoption of the Revenue ASUs on January 1, 2018 to its consolidated financial position and results of operations. As the primary source of revenue for the Company is generated through leasing arrangements, which are excluded from the Revenue ASUs, the Company expects that it will be impacted in its recognition of non-lease revenue, such as certain resident fees in its RIDEA structures (a portion of which are not generated through leasing arrangements) and its recognition of real estate sale transactions. Under ASU 2014-09, revenue recognition for real estate sales is largely based on the transfer of control versus continuing involvement under current guidance. As a result, the Company generally expects that the new guidance will result in more transactions qualifying as sales of real estate and revenue being recognized at an earlier date than under current accounting guidance. |
Reclassifications | Reclassifications Certain amounts in the Company’s consolidated financial statements have been reclassified for prior periods to conform to the current period presentation. Certain prior period amounts have been reclassified on the consolidated balance sheets and consolidated statements of operations for discontinued operations (see Note 5). See Segment Reporting above for additional reclassifications. |
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, 2016 | |
Lease Amendments And Terminations And Joint Venture Formations | |
Summary of quantitative information about fair value measurements for NNN Lease Restructuring and RIDEA Subsidiaries transactions (dollars in thousands) | The following table summarizes the quantitative information about fair value measurements for the NNN Lease Restructuring and RIDEA II transactions (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 100.00% |
Other Real Estate Property In38
Other Real Estate Property Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Acquisition | |
Schedule of real estate acquisitions (in thousands) | The following table summarizes real estate acquisitions for the year ended December 31, 2016 (in thousands): Consideration Assets Acquired (1) Liabilities Net Segment Cash Paid Assumed Real Estate Intangibles SH NNN $ $ $ $ SHOP Life science — Medical office Other — $ $ $ $ (1) The purchase price allocations are preliminary and may be subject to change. Revenues and earnings since the acquisition dates, as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material. |
Schedule of capital improvements (in thousands) | The following table summarizes the Company’s funding for construction, tenant and other capital improvements (in thousands): Year Ended December 31, Segment 2016 2015 SH NNN $ $ SHOP Life science Medical office Other $ $ |
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, 2014 (in thousands, except per share amounts): December 31, 2015 December 31, 2014 Revenues $ $ Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share $ $ Diluted earnings per common share |
Other real estate acquisitions | |
Acquisition | |
Schedule of real estate acquisitions (in thousands) | In addition to the RIDEA III acquisition discussed above, the following table summarizes other real estate acquisitions for the year ended December 31, 2015 (in thousands): Consideration Assets Acquired (1) Cash Paid/ Liabilities Noncontrolling Net Segment Debt Settled Assumed Interest Real Estate Intangibles SH NNN $ $ — $ — $ $ — SHOP Life science — Medical office (2) — Other (3) — $ $ $ $ $ (1) Revenues and earnings since the acquisition dates, as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material. (2) 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). (3) 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. |
Discontinued Operations and D39
Discontinued Operations and Dispositions of Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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. 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 1.05x-1.15x 1.25x-1.35x Range of real estate capitalization rate 6.25%-7.25% 7.50%-8.50% |
Spinoff | |
Summary of assets and liabilities transferred to QCP at the Spin-Off date | The following is a summary of the assets and liabilities transferred to QCP at the Spin-Off date (in thousands): October 31, December 31, 2016 2015 ASSETS Real estate: Buildings and improvements $ $ Land Accumulated depreciation and amortization Net real estate Net investment in direct financing leases Cash and cash equivalents Restricted cash — Intangible assets, net Other assets, net Total assets $ $ LIABILITIES Accounts payable and accrued liabilities $ $ Deferred revenue Total liabilities Net assets $ $ The results of discontinued operations through October 31, 2016, the Spin-Off date, are included in the consolidated results for the years ended December 31, 2016, 2015 and 2014. Summarized financial information for discontinued operations for the years ended December 31, 2016, 2015, and 2014 is as follows (in thousands): Year Ended December 31, 2016 2015 2014 Revenues: Rental and related revenues $ $ $ Tenant recoveries Income from direct financing leases Interest income — — Total revenues Costs and expenses: Depreciation and amortization Operating General and administrative Transaction costs — — Impairments — — Other income, net Income (loss) before income taxes and income from and impairments of equity method investment Income tax expense Income from equity method investment — Impairments of equity method investment — Net income (loss) from discontinued operations $ $ $ |
Net Investment in Direct Fina40
Net Investment in Direct Financing Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 Minimum lease payments receivable $ $ Estimated residual values Less unearned income Net investment in direct financing leases $ $ Properties subject to direct financing leases |
DFL Portfolio | |
Loans Receivable: | |
Future minimum lease payments contractually due under DFLs | The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2016 (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ |
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, 2016 (dollars in thousands): Carrying Percentage of Internal Ratings Segment Amount DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs SH NNN $ $ $ $ — Other — — $ $ $ $ — |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Loans Receivable: | |
Summary of loans receivable secured by real estate | The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2016 (dollars in thousands): Final Number Maturity of Principal Carrying Date Loans Payment Terms Amount (1) Amount 2017 1 monthly interest-only payments, accrues interest at LIBOR plus 6.0%, and secured by, among other things, the issuer’s real estate assets $ $ 2018 1 monthly interest-only payments, accrues interest at 8.0% and secured by a senior housing facility in Pennsylvania (2) 2021 2 aggregate monthly interest-only payments, accrues interest at 8.0% and 9.75% and secured by two senior housing facility in the U.K .(3) 2023 1 monthly interest-only payments, accrues interest at 7.0% and secured by seven senior housing facilities in the U.K . 5 $ $ (1) Represents future contractual principal payments to be received on loans receivable secured by real estate. (2) Represents commitments to fund an aggregate of $0.1 million for a development project that is at or near completion as of December 31, 2016. (3) Represents commitments to fund an aggregate of £12 million ($15 million) for two development projects as of December 31, 2016. |
Loans receivable | |
Loans Receivable: | |
Schedule of loans receivable (in thousands) | The following table summarizes the Company’s loans receivable (in thousands): December 31, 2016 2015 Real Estate Other Real Estate Other Secured Secured Total Secured Secured Total Mezzanine (1)(2) $ — $ $ $ — $ $ Other — — Unamortized premiums (discounts), fees and costs, net Allowance for loan losses — — — — — — $ $ $ $ $ $ (1) At December 31, 2016, included £282 million ($348 million) outstanding and £2 million ($3 million) of associated unamortized discounts, fees and costs both related to the HC-One Facility. At December 31, 2015, included £273 million ($403 million) outstanding and £4 million ($5 million) of associated unamortized discounts, fees and costs both related to the HC-One Facility. (2) At December 31, 2016, the Company had £35 million ($43 million) remaining under its commitments to fund development projects and capital expenditures under it U.K. development projects. |
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, 2016 (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 — $ $ $ $ — |
Investments in and Advances t42
Investments in and Advances to Unconsolidated Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Ownership % 2016 2015 CCRC JV (2) SHOP $ $ MBK JV (3) SHOP HCP Ventures III, LLC Medical office HCP Ventures IV, LLC Medical office HCP Life Science (4) Life science 50-63 Vintage Park SHOP MBK Development JV (3) SHOP Suburban Properties, LLC Medical office K&Y (5) Other — Advances to unconsolidated joint ventures, net and other $ $ (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). (3) Includes two unconsolidated joint ventures in a RIDEA structure (PropCo and OpCo). (4) 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%). (5) Includes three unconsolidated joint ventures. |
Intangibles (Tables)
Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Intangibles | |
Schedule of intangible lease assets | The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2016 2015 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 following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2016 2015 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 | The following table summarizes the estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter (in thousands): Intangible Intangible Assets Liabilities 2017 $ $ 2018 2019 2020 2021 Thereafter $ $ |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets. | |
Schedule of other assets (in thousands) | The following table summarizes the Company’s other assets (in thousands): December 31, 2016 2015 Straight-line rent receivables, net of allowance of $25,059 and $32,918, respectively $ $ Marketable debt securities, net Leasing costs and inducements, net Goodwill Other Total other assets $ $ |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt | |
Summary of senior notes issuances (dollars in thousands) | The following table summarizes the Company’s senior unsecured notes 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 $ % $ |
Summary of senior unsecured 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, 2016: February 1, 2016 $ % September 15, 2016 $ % November 30, 2016 $ % November 30, 2016 $ % Year ended December 31, 2015: March 1, 2015 $ % June 8, 2015 $ % |
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, 2016 (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) 2017 $ — $ $ % $ % $ 2018 — — — % — % 2019 — % — % 2020 — — % % 2021 — — % % Thereafter — — % % % % Discounts and debt costs, net — $ $ $ $ $ (1) Includes £372 million translated into 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 4.34% and a weighted average maturity of six years. (4) Interest rates on the mortgage debt ranged from 3.02% to 7.50% with a weighted average effective interest rate of 3.40% and a weighted average maturity of six years. (5) Excludes $92 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, 2016 | |
Commitments and Contingencies. | |
Summary of material commitments | The following table summarizes the Company’s material commitments, excluding debt servicing obligations (see Note 11), at December 31, 2016 (in thousands): More than Total(1) 2017 2018-2019 2020-2021 Five Years U.K. loan commitments (2) — — Construction loan commitments (3) — — — Development commitments (4) — — Ground and other operating leases Total $ $ $ $ $ (1) Excludes the $100 million Unsecured Revolving Credit Facility commitment to QCP, which is available to be drawn on by QCP through the fourth quarter of 2017 and matures in the fourth quarter of 2018. The Unsecured Revolving Credit Facility will automatically and permanently decrease each calendar month by an amount equal to 50% of QCP’s and its restricted subsidiaries’ retained cash flow for the prior calendar month. All borrowings under the Unsecured Revolving Credit Facility will be subject to the satisfaction of certain conditions (see Note 1). (2) Represents £35 million translated into USD for commitments to fund the Company’s U.K. loan facilities. (3) Represents commitments to finance development projects and related working capital financings. (4) 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 Number of Year Base Rent (1) Properties 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 non-cash 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, 2016 were as follows (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity | |
Schedule of company's other common stock activities (shares in thousands) | The following table summarizes the Company’s other common stock activities (shares in thousands): Year Ended December 31, 2016 2015 2014 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 table summarizes the Company’s accumulated other comprehensive loss (in thousands): December 31, 2016 2015 Cumulative foreign currency translation adjustment $ $ Unrealized losses on cash flow hedges, net Supplemental Executive Retirement Plan minimum liability Unrealized (losses) gains on available for sale securities Total accumulated other comprehensive loss $ $ |
Segment Disclosures (Tables)
Segment Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Disclosures | |
Summary financial information of reportable segment (in thousands) | The following tables summarize information for the reportable segments (in thousands): For the year ended December 31, 2016: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — Less: Operating expenses — HCP share of unconsolidated JV operating expenses — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization — General and administrative — — — — — Acquisition and pursuit costs — — — — — Gain on sales of real estate, net — Loss on debt extinguishments — — — — — Other income, net — — — — — Income tax expense — — — — — Less: HCP share of unconsolidated JV NOI — — Equity income from unconsolidated joint ventures — — Total discontinued operations — — — — — Net income (loss) $ $ $ $ $ $ $ For the year ended December 31, 2015: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — Less: — Operating expenses — HCP share of unconsolidated JV operating expenses — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization — General and administrative — — — — — Acquisition and pursuit costs — — — — — Impairments, net — — — — — Gain on sales of real estate, net — — — — Other income, net — — — — — Income tax benefit — — — — — Less: HCP share of unconsolidated JV NOI — — Equity (loss) income from unconsolidated joint ventures — — — Total discontinued operations — — — — — Net income (loss) $ $ $ $ $ $ $ For the year ended December 31, 2014: Life Medical Other Corporate Segments SH NNN SHOP Science Office Non-reportable Non-segment Total Rental revenues (1) $ $ $ $ $ $ — $ HCP share of unconsolidated JV revenues — — — Less: Operating expenses — HCP share of unconsolidated JV operating expenses — — — NOI — Non-cash adjustments to NOI (2) — Adjusted NOI — Addback non-cash adjustments — Interest income — — — — — Interest expense Depreciation and amortization General and administrative — — — — — Acquisition and pursuit costs — — — — — Gain on sales of real estate, net — — — — — Other income, net — — — — — Income tax benefit — — — — — Less: HCP share of unconsolidated JV NOI — — — Equity (loss) income from unconsolidated joint ventures — — — Total discontinued operations — — — — — Net income $ $ $ $ $ $ $ (1) Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles and lease termination fees . |
Reconciliation of company's revenues to total revenues (in thousands) | The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2016 2015 2014 SH NNN $ $ $ SHOP Life science Medical office Other non-reportable segments Total revenues $ $ $ |
Reconciliation of company's assets to total assets (in thousands) | Year Ended December 31, Segments 2016 2015 2014 SH NNN $ $ $ SHOP Life science Medical office Other non-reportable segments Total revenues $ $ $ The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segments 2016 2015 SH NNN $ $ SHOP Life science Medical office Gross reportable segment assets Accumulated depreciation and amortization Net reportable segment assets Other non-reportable segment assets Assets held for sale and discontinued operations, net Other non-segment assets Total assets $ $ |
Future Minimum Rents (Tables)
Future Minimum Rents (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Future Minimum Rents | |
Future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases | The following table summarizes future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under non-cancelable operating leases as of December 31, 2016 (in thousands): Year Amount 2017 $ 2018 2019 2020 2021 Thereafter $ |
Compensation Plans (Tables)
Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation Plans | |
Summary of additional information concerning restricted stock and restricted stock units | The following table summarizes restricted stock award activity, including performance stock units, for the year ended December 31, 2016 (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, 2016 $ $ Granted — — Vested Forfeited — — Unvested at December 31, 2016 — — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes | |
Schedule of Income Tax Expense (Benefit) from continuing operations | The total income tax expense (benefit) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2016 2015 2014 Current Federal $ $ $ State Foreign Total current $ $ $ Deferred Federal $ $ $ State Foreign Total deferred $ $ $ Total income tax expense (benefit) $ $ $ |
Reconciliation of income tax expense at statutory rates to the actual income tax expense recorded | The following table reconciles the income tax expense (benefit) from continuing operations at statutory rates to the actual income tax expense recorded (in thousands): Year Ended December 31, 2016 2015 2014 Tax benefit 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 expense (benefit) $ $ $ |
Schedule of significant components of the company's deferred tax asset and liabilities | The following table summarizes the significant components of the Company’s deferred tax assets and liabilities from continuing operations (in thousands): December 31, 2016 2015 2014 Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs $ $ $ Net operating loss carryforward Expense accruals and other Valuation allowance Net deferred tax assets $ $ $ |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 Numerator Income from continuing operations $ $ $ Noncontrolling interests’ share in continuing operations Income from continuing operations applicable to HCP, Inc. Participating securities’ share in continuing operations Income from continuing operations applicable to common shares Discontinued operations Noncontrolling interests’ share in discontinued operations — — Net income (loss) applicable to common shares $ $ $ Denominator Basic weighted average common shares Dilutive potential common shares — Diluted weighted average common shares Basic earnings per common share Income from continuing operations $ $ $ Discontinued operations Net income (loss) applicable to common shares $ $ $ Diluted earnings per common share Income from continuing operations $ $ $ Discontinued operations Net income (loss) applicable to common shares $ $ $ |
Supplemental Cash Flow Inform53
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Information | |
Supplemental cash flow information (in thousands) | The following table summarizes supplemental cash flow information (in thousands): Year Ended December 31, 2016 2015 2014 Supplemental cash flow information: Interest paid, net of capitalized interest $ $ $ Income taxes paid Capitalized interest Supplemental disclosure of non-cash investing and financing activities: Accrued construction costs Non-cash impact of QCP Spin-Off, net — — Securities transferred for debt defeasance — — 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 Vesting of restricted stock units 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, 2016 | |
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, 2016 are presented below (in thousands): Maximum Loss Carrying VIE Type Exposure (1) Asset/Liability Type Amount VIE tenants—DFLs(2) $ Net investment in DFLs $ VIE tenants—operating leases(2) Lease intangibles, net and straight-line rent receivables CCRC OpCo Investments in unconsolidated JVs Vintage Park Development JV Investments in unconsolidated JVs Four Seasons Loans and marketable debt securities Loan—senior secured Loans receivable, net Loan—seller financing Loans receivable, net CMBS and LLC investment Marketable debt and cost method investment (1) The Company’s maximum loss exposure represents the aggregate carrying amount of such investments (including accrued interest). (2) 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, 2016 | |
Fair Value Measurements | |
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, 2016 (4) 2015 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 liabilities (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 (i) for marketable debt securities, quoted prices for similar or identical instruments in active or inactive markets, respectively, or (ii) or for loans receivable, net, mortgage debt, and swaps, calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets. For 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 credit rating . (3) Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models. (4) During the years ended December 31, 2016 and 2015, there were no material transfers of financial assets or liabilities within the fair value hierarchy. |
Concentration of Credit Risk (T
Concentration of Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of concentration of credit risk | Percentage of Total Percentage of Company Gross Assets Total Company Revenues December 31, Year Ended December 31, State 2016 2015 2016 2015 2014 California Texas |
Tenants | SH NNN | |
Schedule of concentration of credit risk | Percentage of Gross Assets Percentage of Revenues Total Company SH NNN Total Company SH NNN December 31, December 31, Year Ended December 31, Year Ended December 31, Tenant 2016 2015 2016 2015 2016 2015 2014 2016 2015 2014 Brookdale (1) (1) Includes revenues from 64 SH NNN facilities that were classified as held for sale at December 31, 2016. 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 the year ended December 31, 2014 are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of January 1, 2014. Excludes senior housing facilities operated by Brookdale in the Company’s SHOP segment, as discussed below. |
Derivative Financial Instrume57
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 (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 $ $ January 2015 (3) October 2017 Cash Flow % 1 Month GBP LIBOR+0.975% £ Foreign currency: January 2015 (4) 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) Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate. (4) 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 £1.0 million monthly at a rate of 1.5149 through October 2017. |
Selected Quarterly Financial 58
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Data (Unaudited) | |
Selected quarterly information | The following table summarizes selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands, except per share amounts): Three Months Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Total discontinued operations Income before income taxes and equity income from investments in unconsolidated joint ventures Net income Net income applicable to HCP, Inc. Basic earnings per common share Diluted earnings per common share Three Months Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ $ $ $ Total discontinued operations Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures Net (loss) income Net (loss) income applicable to HCP, Inc. Basic earnings per common share Diluted earnings per common share |
Business (Details)
Business (Details) shares in Millions | Oct. 31, 2016USD ($)property | Oct. 31, 2016USD ($)property | Oct. 30, 2016USD ($) | Oct. 24, 2016 | Oct. 17, 2016USD ($) | Oct. 31, 2016USD ($)property | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Cash transferred | $ 979,542,000 | $ 1,046,638,000 | $ 1,001,559,000 | ||||||
Distribution ratio | 5 | ||||||||
Distribution of QCP, Inc | (3,532,763,000) | ||||||||
Gain or loss recorded from distribution of assets and liabilities | 0 | ||||||||
Loan amount outstanding | 899,718,000 | $ 397,432,000 | |||||||
Revolving credit facility | |||||||||
Line of credit facility, maximum borrowing capacity | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | ||||||
Facility fee | 0.50 | ||||||||
Revolving credit facility | Minimum | |||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 1.00% | 1.00% | 1.00% | ||||||
LIBOR | Revolving credit facility | |||||||||
Loan, basis spread on variable rate | 6.25% | ||||||||
Senior Unsecured, 6.70% notes due in 2018 | |||||||||
Loan amount outstanding | 0 | ||||||||
QCP | |||||||||
Proceeds from borrowing | $ 1,750,000,000 | ||||||||
Cash transferred | $ 1,690,000,000 | ||||||||
Common stock transferred (in shares) | shares | 94 | ||||||||
QCP | Senior Unsecured, 6.70% notes due in 2018 | |||||||||
Permanent decrease in commitments for each month equal to retained cash flow (as a percent) | 50.00% | ||||||||
QCP | Mortgage Debt | |||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 8.125% | ||||||||
Interest expense | $ 2,000,000 | ||||||||
Proceeds from borrowing | $ 1,000,000,000 | ||||||||
QCP | Mortgage Debt | Minimum | |||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 1.00% | ||||||||
QCP | Mortgage Debt | LIBOR | |||||||||
Loan, basis spread on variable rate | 5.25% | ||||||||
QCP | Mortgage Debt | Base rate | |||||||||
Loan, basis spread on variable rate | 4.25% | ||||||||
Spinoff | QCP | |||||||||
Number of properties | property | 338 | 338 | 338 | ||||||
QCP | |||||||||
Distribution of QCP, Inc | $ 3,500,000,000 | ||||||||
QCP | Mortgage Debt | |||||||||
Aggregate principal amount | $ 750,000,000 |
Summary of Significant Accoun60
Summary of Significant Accounting Policies (Details) - segment | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2016 | |
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 | |
Investments classified as cash equivalents, maximum maturity period | 3 months | |
Failure to qualify as REIT, ineligibility period | 4 years | |
Number of reportable segments | 5 |
Brookdale Lease Amendments an61
Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures ("Brookdale Transaction") - Components of Brookdale Transaction and NNN Lease Restructing (Details) $ in Millions | Aug. 29, 2014USD ($)propertyitem | Dec. 31, 2016property |
Lease Amendments And Terminations And Joint Venture Formations. | ||
Number Of Properties Contributed To Joint Venture | item | 48 | |
Brookdale Senior Living | RIDEA JV | ||
Business Combination, Consideration Transferred. | ||
Number of properties | 49 | |
Brookdale Senior Living | NNN-leased Portfolio | ||
Lease Amendments And Terminations And Joint Venture Formations. | ||
Number of facilities for which existing lease agreement is amended | 153 | |
Number of properties with purchase options cancelled on amendment | 30 | |
Business Combination, Consideration Transferred. | ||
Number of properties | 153 | |
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 ($) | Dec. 31, 2014USD ($) | Dec. 31, 2016property |
Lease Amendments And Terminations And Joint Venture Formations. | |||||
Joint Venture Ownership Percentage | 49.00% | 49.00% | |||
Lease Terminations Considerations Received Abstract | |||||
Net termination fee revenue | $ 1,103 | $ 38,001 | |||
RIDEA JV | |||||
Lease Terminations Considerations Received Abstract | |||||
Net termination fee revenue | $ 38,000 | ||||
Net Gain Recognized on Lease Terminations | |||||
Gain based on fair value of net consideration received for lease terminations | 108,000 | ||||
Charges related to lease termination write-offs | $ 70,000 | ||||
CCRC JV | |||||
Lease Amendments And Terminations And Joint Venture Formations. | |||||
Joint Venture Ownership Percentage | 14.00% | 14.00% | |||
Brookdale Senior Living | |||||
Lease Amendments And Terminations And Joint Venture Formations. | |||||
Joint Venture Ownership Percentage | 20.00% | 20.00% | |||
Brookdale Senior Living | RIDEA JV | |||||
Lease Amendments And Terminations And Joint Venture Formations. | |||||
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 | |||||
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 | |||
Number of Real Estate Properties | property | 49 | ||||
Consideration received for terminated leases | $ 47,000 | ||||
Brookdale Senior Living | CCRC JV | |||||
Lease Amendments And Terminations And Joint Venture Formations. | |||||
Joint Venture Ownership Percentage | 51.00% | 51.00% |
Brookdale Lease Amendments an63
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] | |
Range of 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] | |
Range of 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 In64
Other Real Estate Property Investments (Details) $ / shares in Units, $ in Thousands, £ in Millions | Oct. 07, 2015USD ($)property | Jun. 30, 2015USD ($)propertyitem | Oct. 31, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($)facility | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($)property$ / shares | Dec. 31, 2014USD ($)$ / shares | May 31, 2015GBP (£)property | May 31, 2015USD ($)property |
Acquisition | ||||||||||
Number of facilities acquired | facility | 9 | |||||||||
Net termination fee revenue | $ 1,103 | $ 38,001 | ||||||||
Carrying value of aggregate investments | $ 11,692,654 | 12,007,071 | ||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 467,162 | 912,549 | ||||||||
Consideration, Liabilities assumed | 82,985 | 23,218 | ||||||||
Consideration, Noncontrolling Interest | 4,255 | |||||||||
Assets Acquired, Real Estate | 522,600 | 770,409 | ||||||||
Assets Acquired, Net Intangibles | 27,547 | 169,613 | ||||||||
Loans and Leases Receivable, Gross | £ 27 | $ 42,000 | ||||||||
Funding for construction, tenant and other capital improvements | 458,900 | 384,782 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 82,985 | 23,218 | ||||||||
HCP Ventures V | ||||||||||
Real estate acquisitions | ||||||||||
Number of properties | property | 11 | |||||||||
HC-One Facility | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Fair Value of Real Estate Exchanged | £ 174 | $ 254,000 | ||||||||
Number of properties | property | 36 | 2 | 2 | |||||||
SH NNN | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 76,362 | $ 208 | ||||||||
Consideration, Liabilities assumed | 1,200 | |||||||||
Assets Acquired, Real Estate | 71,875 | 208 | ||||||||
Assets Acquired, Net Intangibles | 5,687 | |||||||||
Funding for construction, tenant and other capital improvements | 49,109 | 53,980 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,200 | |||||||||
SHOP | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 113,971 | 151,054 | ||||||||
Consideration, Liabilities assumed | 76,931 | 1,443 | ||||||||
Consideration, Noncontrolling Interest | 4,255 | |||||||||
Assets Acquired, Real Estate | 177,551 | 147,296 | ||||||||
Assets Acquired, Net Intangibles | 13,351 | 9,456 | ||||||||
Funding for construction, tenant and other capital improvements | 74,158 | 77,425 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 76,931 | 1,443 | ||||||||
Other | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 17,909 | 296,227 | ||||||||
Consideration, Liabilities assumed | 6,855 | |||||||||
Assets Acquired, Real Estate | 16,596 | 248,826 | ||||||||
Assets Acquired, Net Intangibles | 1,313 | 54,256 | ||||||||
Funding for construction, tenant and other capital improvements | 7,203 | 37 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 6,855 | |||||||||
Life science | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 49,000 | 80,946 | ||||||||
Consideration, Liabilities assumed | 2,054 | |||||||||
Assets Acquired, Real Estate | 47,400 | 68,988 | ||||||||
Assets Acquired, Net Intangibles | 1,600 | 14,012 | ||||||||
Funding for construction, tenant and other capital improvements | 200,122 | 122,319 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 2,054 | |||||||||
Medical office | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | 209,920 | 384,114 | ||||||||
Consideration, Liabilities assumed | 4,854 | 12,866 | ||||||||
Assets Acquired, Real Estate | 209,178 | 305,091 | ||||||||
Assets Acquired, Net Intangibles | 5,596 | 91,889 | ||||||||
Funding for construction, tenant and other capital improvements | 128,308 | 131,021 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 4,854 | 12,866 | ||||||||
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 | 187,000 | 94,000 | ||||||||
Income from acquiree since the acquisition date | $ 3,000 | 1,000 | ||||||||
Unaudited pro forma consolidated results of operations | ||||||||||
Revenues | 2,034,369 | 1,824,593 | ||||||||
Net income | (531,464) | 954,540 | ||||||||
Net income applicable to HCP, Inc | $ (545,776) | $ 938,387 | ||||||||
Basic earnings per common share (in dollars per share) | $ / shares | $ (1.18) | $ 2.04 | ||||||||
Diluted earnings per common share (in dollars per share) | $ / shares | $ (1.18) | $ 2.04 | ||||||||
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 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 32,000 | 32,000 | ||||||||
RIDEA III | Brookdale Senior Living | ||||||||||
Acquisition | ||||||||||
Number of individual leases | item | 2 | |||||||||
Number of Units Acquired | item | 5,025 | |||||||||
Noncontrolling interest (as a percent) | 10.00% | |||||||||
Management Agreement Term | 7 years | |||||||||
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% | ||||||||
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | $ 110,000 | $ 110,000 | ||||||||
HCP Ventures V | Medical office | ||||||||||
Real estate acquisitions | ||||||||||
Consideration, Cash Paid/Debt Settled | $ 225,000 |
Discontinued Operations and D65
Discontinued Operations and Dispositions of Real Estate (Details) | Oct. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Apr. 01, 2015 | Mar. 29, 2015USD ($) | Jan. 31, 2017USD ($)propertyfacility | Dec. 31, 2016USD ($)propertyfacility | Oct. 31, 2016USD ($)Assetpropertyfacility | May 31, 2016USD ($) | Apr. 30, 2016 | Jan. 31, 2016USD ($)propertyfacility | Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2016USD ($)propertyfacility | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($)property | Dec. 31, 2016USD ($)propertyfacility | Dec. 31, 2016USD ($)propertyfacility | Dec. 31, 2016USD ($)propertyitemfacility | Dec. 31, 2016USD ($)propertyfacility | Dec. 31, 2016USD ($)propertyfacility | Dec. 31, 2016USD ($)propertyfacility | Dec. 31, 2015USD ($)propertyitemfacility | Dec. 31, 2014USD ($)item | Dec. 31, 2011USD ($) | Jun. 30, 2015USD ($) | Feb. 28, 2015USD ($) | Aug. 29, 2014USD ($)facility |
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Gain on sales of real estate, net | $ 164,698,000 | $ 6,377,000 | $ 3,288,000 | |||||||||||||||||||||||||||
Impairment, net | 108,349,000 | |||||||||||||||||||||||||||||
Early repayment of secured debt | $ 108,000,000 | |||||||||||||||||||||||||||||
Loss on debt extinguishment | 46,020,000 | |||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 752,589,000 | $ 750,693,000 | $ 752,589,000 | $ 750,693,000 | $ 752,589,000 | $ 752,589,000 | $ 752,589,000 | $ 752,589,000 | $ 752,589,000 | 752,589,000 | 750,693,000 | |||||||||||||||||||
Number of facility sales closed | property | 11 | |||||||||||||||||||||||||||||
Sales price | $ 62,000,000 | |||||||||||||||||||||||||||||
Number of properties for which sales contracts entered | facility | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | ||||||||||||||||||||||
Number of Facilities Acquired | facility | 9 | |||||||||||||||||||||||||||||
DFL income | $ 59,580,000 | 61,000,000 | 64,441,000 | |||||||||||||||||||||||||||
Real estate and other related assets, net | $ 809,000,000 | $ 809,000,000 | $ 809,000,000 | $ 809,000,000 | $ 809,000,000 | $ 809,000,000 | $ 809,000,000 | 809,000,000 | ||||||||||||||||||||||
Aggregate carrying value held for sale, net | 927,866,000 | 5,654,326,000 | 927,866,000 | 5,654,326,000 | 927,866,000 | 927,866,000 | 927,866,000 | 927,866,000 | 927,866,000 | 927,866,000 | 5,654,326,000 | |||||||||||||||||||
Number of properties classified as held for sale | property | 2 | |||||||||||||||||||||||||||||
Consideration from sale of a purchase option | $ 311,000,000 | $ 269,000,000 | ||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Buildings and improvements | 11,692,654,000 | 12,007,071,000 | 11,692,654,000 | 12,007,071,000 | 11,692,654,000 | 11,692,654,000 | 11,692,654,000 | 11,692,654,000 | 11,692,654,000 | 11,692,654,000 | 12,007,071,000 | |||||||||||||||||||
Land | 1,881,487,000 | 1,934,610,000 | 1,881,487,000 | 1,934,610,000 | 1,881,487,000 | 1,881,487,000 | 1,881,487,000 | 1,881,487,000 | 1,881,487,000 | 1,881,487,000 | 1,934,610,000 | |||||||||||||||||||
Accumulated depreciation and amortization | (2,648,930,000) | (2,476,015,000) | (2,648,930,000) | (2,476,015,000) | (2,648,930,000) | (2,648,930,000) | (2,648,930,000) | (2,648,930,000) | (2,648,930,000) | (2,648,930,000) | (2,476,015,000) | |||||||||||||||||||
Net real estate | 11,325,830,000 | 11,854,242,000 | 11,325,830,000 | 11,854,242,000 | 11,325,830,000 | 11,325,830,000 | 11,325,830,000 | 11,325,830,000 | 11,325,830,000 | 11,325,830,000 | 11,854,242,000 | |||||||||||||||||||
Net investment in direct financing leases | 752,589,000 | 750,693,000 | 752,589,000 | 750,693,000 | 752,589,000 | 752,589,000 | 752,589,000 | 752,589,000 | 752,589,000 | 752,589,000 | 750,693,000 | |||||||||||||||||||
Cash and cash equivalents of continuing operations, end of year | 94,730,000 | 340,442,000 | 94,730,000 | 340,442,000 | 94,730,000 | 94,730,000 | 94,730,000 | 94,730,000 | 94,730,000 | 94,730,000 | 340,442,000 | 181,916,000 | ||||||||||||||||||
Restricted cash | 42,260,000 | 46,090,000 | 42,260,000 | 46,090,000 | 42,260,000 | 42,260,000 | 42,260,000 | 42,260,000 | 42,260,000 | 42,260,000 | 46,090,000 | |||||||||||||||||||
Intangible assets, net | 479,805,000 | 586,657,000 | 479,805,000 | 586,657,000 | 479,805,000 | 479,805,000 | 479,805,000 | 479,805,000 | 479,805,000 | 479,805,000 | 586,657,000 | |||||||||||||||||||
Other assets, net | 711,624,000 | 794,483,000 | 711,624,000 | 794,483,000 | 711,624,000 | 711,624,000 | 711,624,000 | 711,624,000 | 711,624,000 | 711,624,000 | 794,483,000 | |||||||||||||||||||
Total assets | 15,759,265,000 | 21,449,849,000 | 15,759,265,000 | 21,449,849,000 | 15,759,265,000 | 15,759,265,000 | 15,759,265,000 | 15,759,265,000 | 15,759,265,000 | 15,759,265,000 | 21,449,849,000 | |||||||||||||||||||
Liabilities [Abstract] | ||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | 417,360,000 | 430,786,000 | 417,360,000 | 430,786,000 | 417,360,000 | 417,360,000 | 417,360,000 | 417,360,000 | 417,360,000 | 417,360,000 | 430,786,000 | |||||||||||||||||||
Deferred revenue | 149,181,000 | 122,330,000 | 149,181,000 | 122,330,000 | 149,181,000 | 149,181,000 | 149,181,000 | 149,181,000 | 149,181,000 | 149,181,000 | 122,330,000 | |||||||||||||||||||
Total liabilities | $ 9,817,957,000 | 11,703,532,000 | 9,817,957,000 | 11,703,532,000 | 9,817,957,000 | 9,817,957,000 | 9,817,957,000 | 9,817,957,000 | 9,817,957,000 | 9,817,957,000 | 11,703,532,000 | |||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||
Depreciation and amortization | (4,890,000) | (5,880,000) | (4,979,000) | |||||||||||||||||||||||||||
Transaction costs | 86,765,000 | |||||||||||||||||||||||||||||
Impairments, net | (1,341,399,000) | (35,913,000) | ||||||||||||||||||||||||||||
Income tax expense | $ (53,000,000) | (48,181,000) | (796,000) | (756,000) | ||||||||||||||||||||||||||
Net income (loss) from discontinued operations | 28,010,000 | |||||||||||||||||||||||||||||
Maximum | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Federal and state built-in gain tax from assets sold | $ 2,000,000,000 | |||||||||||||||||||||||||||||
Spinoff | ||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||
Transaction costs | (58,000,000) | |||||||||||||||||||||||||||||
Brookdale Senior Living | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | property | 1 | 7 | ||||||||||||||||||||||||||||
Number of assets sold or transited | Asset | 25 | |||||||||||||||||||||||||||||
Annual rent reallocated | $ 9,600,000 | |||||||||||||||||||||||||||||
Number of properties classified as held for sale | property | 8 | |||||||||||||||||||||||||||||
HCRMC | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Impairment charges for direct financing lease | $ 478,000,000 | |||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 5,200,000,000 | 5,200,000,000 | $ 5,200,000,000 | |||||||||||||||||||||||||||
Number of non-strategic assets involved in sales transaction | property | 50 | |||||||||||||||||||||||||||||
Number of facility sales closed | property | 22 | |||||||||||||||||||||||||||||
Sales price | $ 219,000,000 | |||||||||||||||||||||||||||||
Reduction in initial net annual rent due to lease amendment | $ 68,000,000 | |||||||||||||||||||||||||||||
Minimum rent escalation during the initial term (as a percent) | 3.00% | |||||||||||||||||||||||||||||
Period of extension of initial term of lease | 5 years | 5 years | ||||||||||||||||||||||||||||
Average lease term | 16 years | |||||||||||||||||||||||||||||
Deferred lease obligation | $ 525,000,000 | 525,000,000 | $ 525,000,000 | 525,000,000 | 525,000,000 | $ 525,000,000 | 525,000,000 | 525,000,000 | ||||||||||||||||||||||
DFL income | 385,000,000 | 573,000,000 | 599,000,000 | |||||||||||||||||||||||||||
Cash payments received | 385,000,000 | 483,000,000 | 519,000,000 | |||||||||||||||||||||||||||
Federal and state built-in gain tax from assets sold, term | 10 years | |||||||||||||||||||||||||||||
Intended To Hold The Assets, Term | 10 years | |||||||||||||||||||||||||||||
Federal built-in gain tax from assets sold, federal term | 5 years | |||||||||||||||||||||||||||||
Federal built-in gain tax from assets sold, state term | 10 years | |||||||||||||||||||||||||||||
Intended to Sell the Assets, Term | 5 years | |||||||||||||||||||||||||||||
State built-in gain from assets sold | 47,000,000 | |||||||||||||||||||||||||||||
Impairments of investments in unconsolidated joint ventures | $ 27,000,000 | 19,000,000 | $ 27,000,000 | 36,000,000 | ||||||||||||||||||||||||||
Carrying value, equity method investments before impairment | 48,000,000 | 48,000,000 | 75,000,000 | |||||||||||||||||||||||||||
Fair value of equity investment | 21,000,000 | 21,000,000 | 39,000,000 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 5,200,000,000 | 5,200,000,000 | $ 5,200,000,000 | |||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||
Income tax expense | $ (49,000,000) | |||||||||||||||||||||||||||||
Senior housing | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Total consideration for disposition of real estate | $ 16,000,000 | |||||||||||||||||||||||||||||
Post-acute/skilled and SH NNN | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 130,000,000 | |||||||||||||||||||||||||||||
Post-acute/skilled | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of Facilities Acquired | facility | 9 | |||||||||||||||||||||||||||||
Acquisition of facility | 275,000,000 | $ 184,000,000 | ||||||||||||||||||||||||||||
Post-acute/skilled | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | 5 | 2 | ||||||||||||||||||||||||||||
Total consideration for disposition of real estate | $ 22,000,000 | |||||||||||||||||||||||||||||
Post-acute/skilled | HCRMC | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of Facilities Acquired | facility | 2 | |||||||||||||||||||||||||||||
Acquisition of facility | 91,000,000 | |||||||||||||||||||||||||||||
SH NNN | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | ||||||||||||||||||||||
Number of properties classified as held for sale | property | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | ||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | $ 628,698,000 | ||||||||||||||||||||||
SH NNN | Discontinued Operations, Held-for-sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | facility | 64 | |||||||||||||||||||||||||||||
SH NNN | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | item | 9 | |||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 88,000,000 | $ 60,000,000 | ||||||||||||||||||||||||||||
SH NNN | Brookdale Senior Living | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | facility | 64 | |||||||||||||||||||||||||||||
Total consideration for disposition of real estate | $ 1,125,000,000 | |||||||||||||||||||||||||||||
SH NNN One | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | facility | 2 | |||||||||||||||||||||||||||||
SH NNN Two | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | facility | 7 | |||||||||||||||||||||||||||||
Life science | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of facilities, purchased option exercised on | facility | 8 | |||||||||||||||||||||||||||||
Number of properties disposed | facility | 4 | |||||||||||||||||||||||||||||
Total consideration for disposition of real estate | $ 76,000,000 | |||||||||||||||||||||||||||||
Life science | Discontinued Operations, Held-for-sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Real estate and other related assets, net | 288,000,000 | 288,000,000 | 288,000,000 | |||||||||||||||||||||||||||
Aggregate carrying value held for sale, net | 314,000,000 | 314,000,000 | $ 314,000,000 | |||||||||||||||||||||||||||
Number of properties disposed | facility | 4 | 4 | ||||||||||||||||||||||||||||
Life science | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | property | 5 | |||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 386,000,000 | $ 51,000,000 | ||||||||||||||||||||||||||||
Number of Parcels of land | item | 2 | |||||||||||||||||||||||||||||
SHOP | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | facility | 3 | |||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 41,000,000 | |||||||||||||||||||||||||||||
SH NNN, Life Science, SHOP | Discontinued Operations, Held-for-sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Aggregate carrying value held for sale, net | $ 928,000,000 | $ 928,000,000 | $ 928,000,000 | $ 928,000,000 | $ 928,000,000 | $ 928,000,000 | $ 928,000,000 | 928,000,000 | ||||||||||||||||||||||
Hospital | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 17,000,000 | |||||||||||||||||||||||||||||
Post-acute/skilled nursing and senior housing | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of facility sales closed | facility | 7 | |||||||||||||||||||||||||||||
Medical office | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of properties disposed | 3 | 7 | ||||||||||||||||||||||||||||
Total consideration for disposition of real estate | 20,000,000 | $ 400,000 | 145,000 | |||||||||||||||||||||||||||
HCP/CPA/Brookdale JV | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Debt provided | $ 602,000,000 | |||||||||||||||||||||||||||||
Debt provided by third-party | 360,000,000 | |||||||||||||||||||||||||||||
Debt provided by entity | 242,000,000 | |||||||||||||||||||||||||||||
Proceeds from issuance of debt | 480,000,000 | |||||||||||||||||||||||||||||
Proceeds from note receivable | $ 242,000,000 | |||||||||||||||||||||||||||||
HCP/CPA/Brookdale JV | RIDEA II | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Investment ownership percentage | 40.00% | |||||||||||||||||||||||||||||
HCRMC | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Impairments of investments in unconsolidated joint ventures | $ 19,000,000 | |||||||||||||||||||||||||||||
Carrying value, equity method investments | 0 | 0 | 0 | |||||||||||||||||||||||||||
MBK Development JV | SHOP | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Investment ownership percentage | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | ||||||||||||||||||||||
Brookdale Senior Living | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Annualized rent reduction | 10,500,000 | |||||||||||||||||||||||||||||
Brookdale Senior Living | CCRC JV | Senior housing | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Number of retirement communities contributed to joint venture | facility | 3 | |||||||||||||||||||||||||||||
Carrying value of properties contributed | $ 92,000,000 | |||||||||||||||||||||||||||||
QCP | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 1,750,000,000 | |||||||||||||||||||||||||||||
QCP | Discontinued Operations, Held-for-sale | ||||||||||||||||||||||||||||||
Revenue: | ||||||||||||||||||||||||||||||
Rental and related revenues | $ 22,971,000 | 27,651,000 | 27,111,000 | |||||||||||||||||||||||||||
Tenant recoveries | 1,233,000 | 1,464,000 | 1,029,000 | |||||||||||||||||||||||||||
Interest income | 868,000 | |||||||||||||||||||||||||||||
Total revenues | 408,956,000 | 601,950,000 | 627,637,000 | |||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||
Depreciation and amortization | (4,892,000) | (5,880,000) | (4,979,000) | |||||||||||||||||||||||||||
Operating | (3,367,000) | (3,697,000) | (3,309,000) | |||||||||||||||||||||||||||
General and administrative | (67,000) | (57,000) | (410,000) | |||||||||||||||||||||||||||
Transaction costs | (86,765,000) | |||||||||||||||||||||||||||||
Impairments, net | (1,295,504,000) | |||||||||||||||||||||||||||||
Other income, net | 71,000 | 70,000 | 85,000 | |||||||||||||||||||||||||||
Income (loss) before income taxes and income from and impairments of equity method investment | 313,936,000 | (703,118,000) | 619,024,000 | |||||||||||||||||||||||||||
Income tax expense | (48,181,000) | (796,000) | (756,000) | |||||||||||||||||||||||||||
Income from equity method investment | 50,723,000 | 53,175,000 | ||||||||||||||||||||||||||||
Impairments of equity method investment | (45,895,000) | (35,913,000) | ||||||||||||||||||||||||||||
Net income (loss) from discontinued operations | 265,755,000 | (699,086,000) | 635,530,000 | |||||||||||||||||||||||||||
QCP | Discontinued Operations, Disposed of by Sale | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Early repayment of unsecured debt | $ 500,000,000 | |||||||||||||||||||||||||||||
QCP | Spinoff | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | 5,107,180,000 | 5,154,316,000 | 5,154,316,000 | 5,154,316,000 | ||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Buildings and improvements | 191,633,000 | 191,633,000 | 191,633,000 | 191,633,000 | ||||||||||||||||||||||||||
Land | 14,147,000 | 14,147,000 | 14,147,000 | 14,147,000 | ||||||||||||||||||||||||||
Accumulated depreciation and amortization | (71,845,000) | (65,319,000) | (65,319,000) | (65,319,000) | ||||||||||||||||||||||||||
Net real estate | 133,935,000 | 140,461,000 | 140,461,000 | 140,461,000 | ||||||||||||||||||||||||||
Net investment in direct financing leases | 5,107,180,000 | 5,154,316,000 | 5,154,316,000 | 5,154,316,000 | ||||||||||||||||||||||||||
Cash and cash equivalents of continuing operations, end of year | 6,096,000 | 6,058,000 | 6,058,000 | 6,058,000 | ||||||||||||||||||||||||||
Restricted cash | 14,526,000 | 14,526,000 | 14,526,000 | |||||||||||||||||||||||||||
Intangible assets, net | 18,517,000 | 17,049,000 | 17,049,000 | 17,049,000 | ||||||||||||||||||||||||||
Other assets, net | 6,620,000 | 7,790,000 | 7,790,000 | 7,790,000 | ||||||||||||||||||||||||||
Total assets | 5,272,348,000 | 5,340,200,000 | 5,340,200,000 | 5,340,200,000 | ||||||||||||||||||||||||||
Liabilities [Abstract] | ||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | 46,925,000 | 5,453,000 | 5,453,000 | 5,453,000 | ||||||||||||||||||||||||||
Deferred revenue | 667,000 | 687,000 | 687,000 | 687,000 | ||||||||||||||||||||||||||
Total liabilities | 47,592,000 | 6,140,000 | 6,140,000 | 6,140,000 | ||||||||||||||||||||||||||
Net assets | $ 5,224,756,000 | 5,334,060,000 | 5,334,060,000 | 5,334,060,000 | ||||||||||||||||||||||||||
Revenue: | ||||||||||||||||||||||||||||||
Income from direct financing leases | 384,752,000 | 572,835,000 | 598,629,000 | |||||||||||||||||||||||||||
DFL Portfolio | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
DFL income | 13,000,000 | 15,000,000 | $ 19,000,000 | |||||||||||||||||||||||||||
DFL Portfolio | HCRMC | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Impairment charges for direct financing lease | 817,000,000 | $ 478,000,000 | ||||||||||||||||||||||||||||
Net investment in direct financing leases | 6,000,000,000 | 5,200,000,000 | 6,100,000,000 | 5,200,000,000 | 6,000,000,000 | 6,100,000,000 | 5,200,000,000 | $ 6,600,000,000 | ||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 6,000,000,000 | 5,200,000,000 | $ 6,100,000,000 | 5,200,000,000 | $ 6,000,000,000 | $ 6,100,000,000 | 5,200,000,000 | $ 6,600,000,000 | ||||||||||||||||||||||
DFL Portfolio | Senior housing | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | $ 361,000,000 | 366,000,000 | 361,000,000 | 366,000,000 | $ 361,000,000 | $ 361,000,000 | $ 361,000,000 | $ 361,000,000 | $ 361,000,000 | 361,000,000 | 366,000,000 | |||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Net investment in direct financing leases | 361,000,000 | $ 366,000,000 | 361,000,000 | $ 366,000,000 | 361,000,000 | 361,000,000 | 361,000,000 | 361,000,000 | 361,000,000 | 361,000,000 | 366,000,000 | |||||||||||||||||||
Direct Financing Lease Tranche A [Member] | HCRMC | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Deferred lease obligation | $ 275,000,000 | 275,000,000 | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | ||||||||||||||||||||||
Senior Unsecured, 6.00% notes due in 2017 | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Early repayment of unsecured debt | $ 500,000,000 | |||||||||||||||||||||||||||||
Senior Unsecured, 6.00% notes due in 2017 | Debt maturing in 2017 | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Interest rate (as a percent) | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||
Senior Unsecured, 6.70% notes due in 2018 | Debt maturing in 2018 | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Early repayment of unsecured debt | $ 600,000,000 | |||||||||||||||||||||||||||||
Senior Unsecured, 6.70% notes due in 2018 | QCP | Discontinued Operations, Disposed of by Sale | Debt maturing in 2018 | ||||||||||||||||||||||||||||||
Dispositions of Real Estate | ||||||||||||||||||||||||||||||
Interest rate (as a percent) | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | ||||||||||||||||||||||
Income approach | DFL Portfolio | Senior housing | HCRMC | Maximum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of EBITDAR | $ 85,000,000 | |||||||||||||||||||||||||||||
Range of rent coverage ratio | 1.15 | |||||||||||||||||||||||||||||
Range of real estate capitalization rate | 7.25% | |||||||||||||||||||||||||||||
Income approach | DFL Portfolio | Senior housing | HCRMC | Minimum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of EBITDAR | $ 75,000,000 | |||||||||||||||||||||||||||||
Range of rent coverage ratio | 1.05 | |||||||||||||||||||||||||||||
Range of real estate capitalization rate | 6.25% | |||||||||||||||||||||||||||||
Income approach | DFL Portfolio | Post-acute/skilled | HCRMC | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of EBITDAR | $ 435,000,000 | |||||||||||||||||||||||||||||
Income approach | DFL Portfolio | Post-acute/skilled | HCRMC | Maximum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of rent coverage ratio | 1.35 | |||||||||||||||||||||||||||||
Range of real estate capitalization rate | 8.50% | |||||||||||||||||||||||||||||
Income approach | DFL Portfolio | Post-acute/skilled | HCRMC | Minimum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of EBITDAR | $ 385,000,000 | |||||||||||||||||||||||||||||
Range of rent coverage ratio | 1.25 | |||||||||||||||||||||||||||||
Range of real estate capitalization rate | 7.50% | |||||||||||||||||||||||||||||
Level 2 | Medical office | ||||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||
Buildings and improvements | $ 400,000 | |||||||||||||||||||||||||||||
Level 2 | Market approach | DFL Portfolio | Senior housing | HCRMC | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Cash flow coverage ratio | 1.05% | |||||||||||||||||||||||||||||
Level 2 | Market approach | DFL Portfolio | Post-acute/skilled | HCRMC | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Cash flow coverage ratio | 1.25% | |||||||||||||||||||||||||||||
Level 3 | Discounted cash flow valuation technique | HCRMC | 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% | |||||||||||||||||||||||||||||
Level 3 | Discounted cash flow valuation technique | HCRMC | Minimum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of revenue growth rate | (1.80%) | |||||||||||||||||||||||||||||
Range of operating expense growth rates | (1.10%) | |||||||||||||||||||||||||||||
Level 3 | Discounted cash flow valuation technique | HCRMC | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Discount Rate | 15.20% | 13.70% | ||||||||||||||||||||||||||||
Level 3 | Discounted cash flow valuation technique | HCRMC | Maximum | ||||||||||||||||||||||||||||||
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 | 7 | ||||||||||||||||||||||||||||
Level 3 | Discounted cash flow valuation technique | HCRMC | Minimum | ||||||||||||||||||||||||||||||
Fair Value Quantitative Inputs | ||||||||||||||||||||||||||||||
Range of revenue growth rate | (0.20%) | |||||||||||||||||||||||||||||
Range of occupancy growth rates | (0.80%) | (0.30%) | ||||||||||||||||||||||||||||
Range of operating expense growth rates | 0.60% | |||||||||||||||||||||||||||||
Range of earnings multiples | 6 | 6 |
Net Investment in Direct Fina66
Net Investment in Direct Financing Leases (Details) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2016USD ($)item | Dec. 31, 2015USD ($)item | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Feb. 28, 2015USD ($) | Sep. 30, 2013item | |
Net Investment in Direct Financing Leases | |||||||
Minimum lease payments receivable | $ 1,108,237 | $ 1,155,215 | |||||
Estimated residual values | 539,656 | 535,161 | |||||
Less unearned income | (895,304) | (939,683) | |||||
Net investment in direct financing leases | $ 752,589 | $ 750,693 | |||||
Properties subject to direct financing leases | item | 30 | 30 | |||||
Percentage of DFL Portfolio | 100.00% | ||||||
DFL income | $ 59,580 | $ 61,000 | $ 64,441 | ||||
Capital leases future minimum payments receivable | |||||||
2,017 | 91,770 | ||||||
2,018 | 66,121 | ||||||
2,019 | 67,526 | ||||||
2,020 | 62,234 | ||||||
2,021 | 62,641 | ||||||
Thereafter | 757,945 | ||||||
Total | 1,108,237 | ||||||
HCRMC | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 5,200,000 | ||||||
DFL income | 385,000 | 573,000 | 599,000 | ||||
DFL Portfolio | |||||||
Net Investment in Direct Financing Leases | |||||||
DFL income | 13,000 | 15,000 | 19,000 | ||||
Cash income | 18,000 | 20,000 | $ 24,000 | ||||
DFL Portfolio | HCRMC | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 5,200,000 | $ 6,000,000 | $ 6,100,000 | $ 6,600,000 | |||
Performing Loans | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 391,788 | ||||||
Watch List Loans | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 360,801 | ||||||
Senior housing | DFL Portfolio | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 361,000 | $ 366,000 | |||||
Properties subject to direct financing leases | item | 14 | ||||||
SH NNN | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | $ 628,698 | ||||||
Percentage of DFL Portfolio | 84.00% | ||||||
SH NNN | Performing Loans | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | $ 267,897 | ||||||
SH NNN | Watch List Loans | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | 360,801 | ||||||
Other | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | $ 123,891 | ||||||
Percentage of DFL Portfolio | 16.00% | ||||||
Other | Performing Loans | |||||||
Net Investment in Direct Financing Leases | |||||||
Net investment in direct financing leases | $ 123,891 |
Loans Receivable (Details)
Loans Receivable (Details) $ in Thousands, £ in Millions | 12 Months Ended | ||||
Dec. 31, 2016GBP (£) | Dec. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | |
Loans Receivable: | |||||
Mezzanine | $ 615,188 | $ 660,138 | |||
Loans receivable, other | 195,946 | 114,322 | |||
Unamortized premiums (discounts), fees and costs | (3,180) | (5,717) | |||
Loans receivable, net | $ 807,954 | 768,743 | |||
Remaining commitments to fund development projects | £ 35 | $ 43,000 | |||
Percentage of Loan Portfolio | 100.00% | 100.00% | |||
Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 551,489 | ||||
Watch List Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | 256,465 | ||||
Real Estate Secured | |||||
Loans Receivable: | |||||
Loans receivable, other | 195,946 | 114,322 | |||
Unamortized premiums (discounts), fees and costs | 413 | 961 | |||
Loans receivable, net | $ 196,359 | 115,283 | |||
Percentage of Loan Portfolio | 24.00% | 24.00% | |||
Real Estate Secured | Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 196,359 | ||||
Other Secured | |||||
Loans Receivable: | |||||
Mezzanine | 615,188 | 660,138 | |||
Unamortized premiums (discounts), fees and costs | (3,593) | (6,678) | |||
Loans receivable, net | $ 611,595 | 653,460 | |||
Percentage of Loan Portfolio | 76.00% | 76.00% | |||
Other Secured | Performing Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | $ 355,130 | ||||
Other Secured | Watch List Loans | |||||
Loans Receivable: | |||||
Loans receivable, net | 256,465 | ||||
HC-One Facility | |||||
Loans Receivable: | |||||
Mezzanine | £ 282 | 348,000 | £ 273 | 403,000 | |
Unamortized premiums (discounts), fees and costs | 2 | 3,000 | 4 | 5,000 | |
Four Seasons | |||||
Loans Receivable: | |||||
Loans receivable, net | £ 42 | $ 50,000 | £ 58 | $ 85,000 |
Loans Receivable - Real Estate
Loans Receivable - Real Estate Secured Loans (Details) $ in Thousands, £ in Millions | 12 Months Ended | ||||||
Dec. 31, 2016USD ($)itemfacility | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2016GBP (£) | Dec. 31, 2016USD ($) | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | |
Mortgage Loans on Real Estate | |||||||
Number of loans receivable | item | 5 | ||||||
Principal Amount | $ 195,522 | ||||||
Carrying Amount | 196,359 | ||||||
Interest income | $ 88,808 | $ 112,184 | $ 73,623 | ||||
Loans receivable, net | 807,954 | $ 768,743 | |||||
Real Estate Secured | |||||||
Mortgage Loans on Real Estate | |||||||
Interest income | $ 26,000 | ||||||
Loans receivable, net | 196,359 | 115,283 | |||||
Four Seasons | |||||||
Mortgage Loans on Real Estate | |||||||
Loans receivable, net | £ 42 | 50,000 | £ 58 | 85,000 | |||
Monthly interest only payments, issuers real estate in 2017 | |||||||
Mortgage Loans on Real Estate | |||||||
Number of loans receivable | item | 1 | ||||||
Principal Amount | 34,602 | ||||||
Carrying Amount | 35,015 | ||||||
Monthly interest only payments, issuers real estate in 2017 | LIBOR | |||||||
Mortgage Loans on Real Estate | |||||||
Variable interest rate (as a percent) | 6.00% | ||||||
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 | 21,473 | ||||||
Carrying Amount | 21,566 | ||||||
Commitments to fund development projects | 100 | ||||||
Monthly interest-only payments, UK, 2021 | |||||||
Mortgage Loans on Real Estate | |||||||
Number of loans receivable | item | 2 | ||||||
Number of collateral facilities | facility | 2 | ||||||
Principal Amount | 9,008 | ||||||
Carrying Amount | 9,339 | ||||||
Commitments to fund development projects | £ 12 | 15,000 | |||||
Number of development projects | item | 2 | ||||||
Monthly interest-only payments, UK, 2021 | Real estate loan one | |||||||
Mortgage Loans on Real Estate | |||||||
Fixed interest rate (as a percent) | 8.00% | ||||||
Monthly interest-only payments, UK, 2021 | Real estate loan two | |||||||
Mortgage Loans on Real Estate | |||||||
Fixed interest rate (as a percent) | 9.75% | ||||||
Monthly interest-only payments, UK, 2023 | |||||||
Mortgage Loans on Real Estate | |||||||
Number of loans receivable | item | 1 | ||||||
Fixed interest rate (as a percent) | 7.00% | ||||||
Number of collateral facilities | facility | 7 | ||||||
Principal Amount | 130,439 | ||||||
Carrying Amount | $ 130,439 | ||||||
Senior secured term loan | |||||||
Mortgage Loans on Real Estate | |||||||
Loans receivable, net | 28 | $ 42,000 | |||||
Senior secured term loan | Four Seasons | |||||||
Mortgage Loans on Real Estate | |||||||
Loans receivable, net | £ | £ 40 | ||||||
Senior secured term loan | Four Seasons | LIBOR | |||||||
Mortgage Loans on Real Estate | |||||||
Loan, basis spread on variable rate | 6.00% |
Loans Receivable - Other Secure
Loans Receivable - Other Secured Loans (Details) $ in Thousands, £ in Millions | Nov. 30, 2014USD ($) | Oct. 31, 2015USD ($) | Sep. 30, 2015GBP (£)property | Apr. 30, 2015GBP (£) | Feb. 28, 2015GBP (£) | Feb. 28, 2015USD ($) | Nov. 30, 2014GBP (£)propertyitem | Dec. 31, 2016USD ($)property | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Oct. 31, 2016USD ($) | May 31, 2015USD ($) | Feb. 28, 2015USD ($) | Jun. 30, 2013USD ($) | Jul. 31, 2012USD ($) |
Loans Receivable: | ||||||||||||||||
Loans receivable, other | $ 195,946 | $ 114,322 | ||||||||||||||
Amount draw on the revolving line of credit facility | 1,108,417 | 98,743 | $ 845,190 | |||||||||||||
Loan amount outstanding | $ 899,718 | 397,432 | ||||||||||||||
Revolving credit facility | ||||||||||||||||
Loans Receivable: | ||||||||||||||||
Loan facility maximum | $ 100,000 | |||||||||||||||
NHP | ||||||||||||||||
Loans Receivable: | ||||||||||||||||
Number of facilities | property | 273 | |||||||||||||||
Number of beds acquired | item | 12,500 | |||||||||||||||
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 | |||||||||||||||
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 | ||||||||||||||
Term to retain security over the spinoff properties | 2 years | |||||||||||||||
Cash payments received from borrower | £ 34 | 52,000 | ||||||||||||||
Loan amount outstanding | $ 345,000 | |||||||||||||||
HC-One Facility | Revolving 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 | |||||||||||||||
Cash payments received from borrower | 30,000 | 29,000 | 27,000 | |||||||||||||
Interest income related to loans | $ 31,000 | $ 29,000 | $ 27,000 | |||||||||||||
Loan receivable, interest rate payable (as a percent) | 11.50% | |||||||||||||||
Loan receivable subordinated to senior mortgage debt | $ 374,000 | |||||||||||||||
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% | ||||||||||||||
Tandem Health Care Loan - Second Tranche | ||||||||||||||||
Loans Receivable: | ||||||||||||||||
Loans receivable, other | $ 102,000 | |||||||||||||||
Loan receivable, interest rate payable (as a percent) | 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% | |||||||||||||||
Tandem Health Care Loan Fourth Tranche [Member] | ||||||||||||||||
Loans Receivable: | ||||||||||||||||
Loans receivable, other | $ 5,000 | |||||||||||||||
Loan receivable, interest rate payable (as a percent) | 6.00% | |||||||||||||||
Delphis | ||||||||||||||||
Loans Receivable: | ||||||||||||||||
Cash payments received from borrower | $ 23,000 | |||||||||||||||
Loan receivable impairment recovery recognized | $ 6,000 |
Investments in and Advances t70
Investments in and Advances to Unconsolidated Joint Ventures - Equity Method Investments (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)item | Dec. 31, 2015USD ($) | Mar. 30, 2015 | |
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 571,491,000 | $ 605,244,000 | |
SHOP | |||
Company owned interests in entities, accounted under equity method: | |||
Number of unconsolidated joint ventures | item | 2 | ||
CCRC JV | SHOP | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 439,449,000 | 465,179,000 | |
Investment ownership percentage | 49.00% | ||
MBK JV | SHOP | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 38,909,000 | 34,131,000 | |
Investment ownership percentage | 50.00% | ||
MBK JV | Senior housing | |||
Company owned interests in entities, accounted under equity method: | |||
Investment ownership percentage | 50.00% | ||
MBK Development JV | SHOP | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 2,463,000 | 2,224,000 | |
Investment ownership percentage | 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 | $ 1,533,000 | 9,241,000 | |
Investment ownership percentage | 30.00% | ||
HCP Ventures IV, LLC | Medical office | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 7,277,000 | 11,884,000 | |
Investment ownership percentage | 20.00% | ||
HCP Life Science | Life science | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 67,879,000 | 68,582,000 | |
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% | ||
Torrey Pines Science Center, LP | Life science | |||
Company owned interests in entities, accounted under equity method: | |||
Investment ownership percentage | 50.00% | ||
Britannia Biotech Gateway, LP | Life science | |||
Company owned interests in entities, accounted under equity method: | |||
Investment ownership percentage | 55.00% | ||
LASDK, LP | Life science | |||
Company owned interests in entities, accounted under equity method: | |||
Investment ownership percentage | 63.00% | ||
Vintage Park Development JV | SHOP | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 7,486,000 | 8,729,000 | |
Investment ownership percentage | 85.00% | ||
Suburban Properties, LLC | Medical office | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 4,628,000 | 4,621,000 | |
Investment ownership percentage | 67.00% | ||
K&Y | Other | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 1,342,000 | ||
Investment ownership percentage | 80.00% | ||
Advances to unconsolidated joint ventures, net | |||
Company owned interests in entities, accounted under equity method: | |||
Investments in and advances to unconsolidated joint ventures | $ 525,000 | $ 653,000 |
Investments in and Advances t71
Investments in and Advances to Unconsolidated Joint Ventures - Unconsolidated Joint Ventures (Details) $ in Thousands | Dec. 30, 2015USD ($)property | Mar. 30, 2015USD ($)property | Jan. 31, 2017property | Dec. 31, 2016property | Dec. 31, 2016USD ($)property | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Company owned interests in entities, accounted under equity method: | ||||||||
Cash contributed | $ 770,325 | |||||||
Gain on sales of real estate, net | $ 164,698 | 6,377 | $ 3,288 | |||||
HCP's share of earnings | 11,360 | 57,313 | 49,570 | |||||
Parent Company | ||||||||
Company owned interests in entities, accounted under equity method: | ||||||||
HCP's share of earnings | $ 215,804 | $ 191,986 | $ 66,453 | |||||
MBK | ||||||||
Company owned interests in entities, accounted under equity method: | ||||||||
Investment ownership percentage | 50.00% | |||||||
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, net | $ 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 | |||||||
HCP Ventures III, LLC | Hospital | ||||||||
Company owned interests in entities, accounted under equity method: | ||||||||
Disposition of Properties Sold Number | property | 3 | |||||||
Total Consideration for Disposition of Real Estate | $ 31,000 | |||||||
Gain on sales of real estate, net | 4,900 | |||||||
HCP's share of earnings | 1,300 | |||||||
Distributions received by HCP | $ 8,000 | |||||||
Brookdale Senior Living | ||||||||
Company owned interests in entities, accounted under equity method: | ||||||||
Disposition of Properties Sold Number | property | 1 | 7 | ||||||
MBK JV | Senior housing | ||||||||
Company owned interests in entities, accounted under equity method: | ||||||||
Cash contributed | $ 27,000 | |||||||
Investment ownership percentage | 50.00% | |||||||
Number of campuses | property | 3 | |||||||
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 | |||||||
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% | 30.00% |
Intangibles Lease Assets (Detai
Intangibles Lease Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Intangible assets and liabilities | ||
Gross intangible lease assets | $ 911,697 | $ 964,840 |
Accumulated depreciation and amortization | (431,892) | (378,183) |
Net intangible lease assets | $ 479,805 | $ 586,657 |
Remaining weighted-average amortization period of intangible assets | 13 years | 13 years |
Gross intangible lease liabilities | $ 163,924 | $ 155,883 |
Above market | ||
Intangible assets and liabilities | ||
Above market ground lease, Gross intangible lease liabilities | 2,329 | 6,121 |
Below market | ||
Intangible assets and liabilities | ||
Below market leases, Gross intangible lease liabilities | 161,595 | 149,762 |
Lease-up intangibles | ||
Intangible assets and liabilities | ||
Gross intangible lease assets | 719,788 | 765,861 |
Tenant leases | Above market | ||
Intangible assets and liabilities | ||
Gross intangible lease assets | 147,409 | 154,928 |
Ground leases | Below market | ||
Intangible assets and liabilities | ||
Gross intangible lease assets | $ 44,500 | $ 44,051 |
Intangibles Lease Liabilities (
Intangibles Lease Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Intangibles | |||
Gross intangible lease liabilities | $ 163,924 | $ 155,883 | |
Accumulated depreciation and amortization | (105,779) | (99,736) | |
Net intangible lease liabilities | $ 58,145 | $ 56,147 | |
Approximate remaining weighted-average amortization period of unfavorable market lease intangibles | 11 years | 10 years | |
Additional revenues from the amortization of net below market lease intangibles included in rental income | $ 4,000 | $ 4,000 | $ 3,000 |
Additional expense from the amortization of net below 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 | $ 85,000 | $ 76,000 | $ 60,000 |
Intangibles - Estimated Aggrega
Intangibles - Estimated Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Estimated aggregate amortization of Intangible Assets | ||
Estimated aggregate amortization of intangible assets, 2017 | $ 86,113 | |
Estimated aggregate amortization of intangible assets, 2018 | 69,805 | |
Estimated aggregate amortization of intangible assets, 2019 | 51,710 | |
Estimated aggregate amortization of intangible assets, 2020 | 43,763 | |
Estimated aggregate amortization of intangible assets, 2021 | 37,255 | |
Estimated aggregate amortization of intangible assets, thereafter | 191,159 | |
Net intangible lease assets | 479,805 | $ 586,657 |
Estimate aggregate amortization of Intangible Liabilities | ||
Estimated aggregate amortization of intangible liabilities, 2017 | 11,686 | |
Estimated aggregate amortization of intangible liabilities, 2018 | 9,018 | |
Estimated aggregate amortization of intangible liabilities, 2019 | 6,558 | |
Estimated aggregate amortization of intangible liabilities, 2020 | 5,142 | |
Estimated aggregate amortization of intangible liabilities, 2021 | 3,636 | |
Estimated aggregate amortization of intangible liabilities, thereafter | 22,105 | |
Net intangible lease liabilities | $ 58,145 | $ 56,147 |
Other Assets (Details)
Other Assets (Details) $ in Thousands, £ in Millions | 1 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2016GBP (£) | Jun. 30, 2016USD ($) | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | Jun. 30, 2012GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jun. 30, 2012USD ($) | |
Other assets | ||||||||||
Straight-line rent receivables, net of allowance | $ 311,776 | $ 366,951 | ||||||||
Allowance on straight-line rent receivables | 25,059 | 32,918 | ||||||||
Loans receivable, net | 807,954 | 768,743 | ||||||||
Marketable debt securities, net | 68,630 | 102,958 | ||||||||
Leasing costs and inducements, net | 156,820 | 158,708 | ||||||||
Goodwill | 42,386 | 47,019 | ||||||||
Other | 132,012 | 118,847 | ||||||||
Total other assets | 711,624 | 794,483 | ||||||||
Four Seasons | ||||||||||
Other assets | ||||||||||
Loans receivable, net | £ 58 | £ 42 | $ 50,000 | $ 85,000 | ||||||
Loan receivable, interest rate payable (as a percent) | 12.25% | 12.25% | ||||||||
Marketable debt security, par value | £ | £ 138.5 | |||||||||
Marketable debt security, par value, discounted | £ 136.8 | $ 215,000 | ||||||||
Marketable debt security, issued and outstanding as a percentage | 79.00% | |||||||||
Marketable debt security, issued and outstanding | £ | £ 175 | |||||||||
Interest payment received | £ 8 | $ 13,000 | £ 8 | $ 13,000 | £ 8 | $ 11,000 |
Debt (Details)
Debt (Details) £ in Millions | Nov. 30, 2016USD ($) | Sep. 15, 2016USD ($) | Feb. 01, 2016USD ($) | Dec. 01, 2015USD ($) | Jun. 08, 2015USD ($) | May 20, 2015USD ($) | Mar. 01, 2015USD ($) | Jan. 21, 2015USD ($) | Jan. 12, 2015GBP (£) | Jul. 30, 2012GBP (£) | Jan. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2016GBP (£)item | Dec. 31, 2016USD ($)item | Jan. 12, 2015USD ($) |
Debt Instrument | |||||||||||||||||
Repayments under bank line of credit | $ 540,000,000 | $ 511,521,000 | |||||||||||||||
Bank line of credit | 397,432,000 | $ 899,718,000 | |||||||||||||||
Senior unsecured notes | 9,120,107,000 | 7,133,538,000 | |||||||||||||||
Total debt before discount, net | 9,159,839,000 | ||||||||||||||||
(Discounts), premiums and debt costs, net | (62,729,000) | ||||||||||||||||
Debt instruments, carrying amount | 9,097,110,000 | ||||||||||||||||
Other debt | $ 94,445,000 | 92,385,000 | |||||||||||||||
Issuance of mortgage and other debt | $ 35,445,000 | ||||||||||||||||
Debt maturing in 2014 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,017 | 899,100,000 | ||||||||||||||||
Debt maturing in 2015 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,018 | 903,359,000 | ||||||||||||||||
Debt maturing in 2016 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,019 | 725,715,000 | ||||||||||||||||
Debt maturing in 2017 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,020 | 803,907,000 | ||||||||||||||||
Debt maturing in 2018 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,021 | 1,211,277,000 | ||||||||||||||||
Thereafter | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Thereafter | $ 4,616,481,000 | ||||||||||||||||
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 | $ 6,500,000,000 | ||||||||||||||||
Bank Line of Credit | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Line of credit facility, maximum borrowing capacity | 2,000,000,000 | ||||||||||||||||
Repayments under bank line of credit | £ | £ 220 | ||||||||||||||||
Extended debt instrument term - not used in 10Q | 1 year | ||||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 1.05% | ||||||||||||||||
Debt instrument, facility fee (as a percent) | 0.20% | ||||||||||||||||
Line of credit facility additional aggregate amount, maximum | $ 500,000,000 | ||||||||||||||||
Bank line of credit | $ 900,000,000 | ||||||||||||||||
Weighted-average interest rate (as a percent) | 1.82% | 1.82% | |||||||||||||||
Line of credit, portion denominated in GBP | £ | £ 372 | ||||||||||||||||
Term loans, portion denominated in GBP | $ 460,000,000 | ||||||||||||||||
Total debt before discount, net | 899,718,000 | ||||||||||||||||
Debt instruments, carrying amount | 899,718,000 | ||||||||||||||||
Bank Line of Credit | Debt maturing in 2015 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,018 | 899,718,000 | ||||||||||||||||
Term loans | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2018 | £ | 357 | ||||||||||||||||
2021 | £ | £ 357 | ||||||||||||||||
Total debt before discount, net | 441,181,000 | ||||||||||||||||
(Discounts), premiums and debt costs, net | (1,119,000) | ||||||||||||||||
Debt instruments, carrying amount | 440,062,000 | ||||||||||||||||
Term loans | Debt maturing in 2014 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,017 | 169,305,000 | ||||||||||||||||
Term loans | Debt maturing in 2016 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,019 | 271,876,000 | ||||||||||||||||
2012 Term Loan | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt instrument, variable rate basis | GBP LIBOR | ||||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 1.40% | ||||||||||||||||
Maturity period of debt instruments | 4 years | ||||||||||||||||
Debt instruments, carrying amount | £ 137 | $ 169,000,000 | |||||||||||||||
2015 Term Loan | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt instrument, variable rate basis | GBP LIBOR | ||||||||||||||||
Length of debt instrument extension period | 1 year | ||||||||||||||||
Debt instrument, basis spread on variable rate (as a percent) | 1.15% | ||||||||||||||||
Derivative, fixed interest rate (as a percent) | 1.97% | 1.97% | |||||||||||||||
Senior unsecured notes | £ 220 | $ 272,000,000 | |||||||||||||||
Maturity period of debt instruments | 4 years | ||||||||||||||||
Term of the interest rate swap agreement | 3 years | ||||||||||||||||
Unsecured Debt. | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Weighted-average interest rate (as a percent) | 4.34% | 4.34% | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.34% | 4.34% | |||||||||||||||
Total debt before discount, net | $ 7,200,000,000 | ||||||||||||||||
(Discounts), premiums and debt costs, net | (66,462,000) | ||||||||||||||||
Debt instruments, carrying amount | $ 7,133,538,000 | ||||||||||||||||
Weighted-average maturity | 6 years | ||||||||||||||||
Unsecured Debt. | Minimum | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 2.79% | 2.79% | |||||||||||||||
Unsecured Debt. | Maximum | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.88% | 6.88% | |||||||||||||||
Unsecured Debt. | Debt maturing in 2014 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 5.72% | 5.72% | |||||||||||||||
2,017 | $ 250,000,000 | ||||||||||||||||
Unsecured Debt. | Debt maturing in 2016 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.95% | 3.95% | |||||||||||||||
2,019 | $ 450,000,000 | ||||||||||||||||
Unsecured Debt. | Debt maturing in 2017 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 2.81% | 2.81% | |||||||||||||||
2,020 | $ 800,000,000 | ||||||||||||||||
Unsecured Debt. | Debt maturing in 2018 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 5.54% | 5.54% | |||||||||||||||
2,021 | $ 1,200,000,000 | ||||||||||||||||
Unsecured Debt. | Thereafter | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.27% | 4.27% | |||||||||||||||
Thereafter | $ 4,500,000,000 | ||||||||||||||||
Senior Unsecured, 3.40% notes due 2025 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Face Amount | $ 600,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.40% | ||||||||||||||||
Net proceeds from issuance of senior unsecured notes | $ 591,000,000 | ||||||||||||||||
Senior Unsecured 4.0% notes due 2025 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Face Amount | $ 750,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.00% | ||||||||||||||||
Net proceeds from issuance of senior unsecured notes | $ 739,000,000 | ||||||||||||||||
Senior Unsecured, 4.0% notes due 2022 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Face Amount | $ 600,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.00% | ||||||||||||||||
Net proceeds from issuance of senior unsecured notes | $ 594,000,000 | ||||||||||||||||
Senior Unsecured, 6.00% notes due in 2017 | Debt maturing in 2017 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.00% | 6.00% | |||||||||||||||
Senior Unsecured, 6.70% notes due in 2018 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Bank line of credit | $ 0 | ||||||||||||||||
Senior Unsecured Debt 6.000 Percent Incepted November 30 2016 [Member] | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.00% | ||||||||||||||||
Repayment of senior unsecured notes | $ 500,000,000 | ||||||||||||||||
Senior Unsecured Debt 6.700 Percent Incepted November 30 2016 [Member] | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.70% | ||||||||||||||||
Repayment of senior unsecured notes | $ 600,000,000 | ||||||||||||||||
Senior Unsecured Debt 3.75 Percent Incepted February 1 2016 [Member] | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.75% | ||||||||||||||||
Repayment of senior unsecured notes | $ 500,000,000 | ||||||||||||||||
Senior Unsecured Debt 6.30 Percent Incepted September 15 2016[Member] | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.30% | ||||||||||||||||
Repayment of senior unsecured notes | $ 400,000,000 | ||||||||||||||||
Senior Unsecured Debt 6.0 Percent Incepted March 1, 2015 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 6.00% | ||||||||||||||||
Repayment of senior unsecured notes | $ 200,000,000 | ||||||||||||||||
Senior Unsecured Debt 7.07 Percent Incepted June 8, 2015 [Member] | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 7.072% | ||||||||||||||||
Repayment of senior unsecured notes | $ 200,000,000 | ||||||||||||||||
Mortgage Debt | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Weighted-average interest rate (as a percent) | 3.40% | 3.40% | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.40% | 3.40% | |||||||||||||||
Number of healthcare facilities used to secure debt | item | 36 | 36 | |||||||||||||||
Debt instrument, collateral, healthcare facilities carrying value | $ 899,000,000 | ||||||||||||||||
Total debt before discount, net | 618,940,000 | ||||||||||||||||
(Discounts), premiums and debt costs, net | 4,852,000 | ||||||||||||||||
Debt instruments, carrying amount | $ 623,792,000 | ||||||||||||||||
Weighted-average maturity | 6 years | ||||||||||||||||
Mortgage Debt | Minimum | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.02% | 3.02% | |||||||||||||||
Mortgage Debt | Maximum | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 7.50% | 7.50% | |||||||||||||||
Mortgage Debt | Debt maturing in 2014 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 3.14% | 3.14% | |||||||||||||||
2,017 | $ 479,795,000 | ||||||||||||||||
Mortgage Debt | Debt maturing in 2015 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,018 | 3,641,000 | ||||||||||||||||
Mortgage Debt | Debt maturing in 2016 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
2,019 | $ 3,839,000 | ||||||||||||||||
Mortgage Debt | Debt maturing in 2017 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 5.11% | 5.11% | |||||||||||||||
2,020 | $ 3,907,000 | ||||||||||||||||
Mortgage Debt | Debt maturing in 2018 | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 5.38% | 5.38% | |||||||||||||||
2,021 | $ 11,277,000 | ||||||||||||||||
Mortgage Debt | Thereafter | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.13% | 4.13% | |||||||||||||||
Thereafter | $ 116,481,000 | ||||||||||||||||
Other Debt | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Other debt | $ 64,000,000 | ||||||||||||||||
Number of CCRC issuing non-interest life care bonds | item | 2 | 2 | |||||||||||||||
Number of facilities with non-interest bearing occupancy fee deposits | item | 3 | 3 | |||||||||||||||
Life Care Bonds and Demand Notes | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage (as a percent) | 4.50% | 4.50% | |||||||||||||||
Net proceeds from issuance of senior unsecured notes | $ 28,000,000 | ||||||||||||||||
Other debt | $ 92,000,000 | ||||||||||||||||
RIDEA II | |||||||||||||||||
Debt Instrument | |||||||||||||||||
Repayment of senior unsecured notes | $ 440,000,000 |
Commitments and Contingencies -
Commitments and Contingencies - Contractual Obligations (Details) - 12 months ended Dec. 31, 2016 $ in Thousands, £ in Millions | GBP (£) | USD ($) |
Material commitments | ||
Total | $ 572,305 | |
2,017 | 161,593 | |
2018-2019 | 20,702 | |
2020-2021 | 13,706 | |
More than Five Years | 376,304 | |
Credit Enhancement Guarantee | ||
Third party debt collateralized by facilities, debt amount | 91,000 | |
Third party debt collateralized by facilities, asset carrying amount | 629,000 | |
Ground and other operating leases | ||
Material commitments | ||
Total | 412,055 | |
2,017 | 7,294 | |
2018-2019 | 14,751 | |
2020-2021 | 13,706 | |
More than Five Years | 376,304 | |
Construction loan commitments | ||
Material commitments | ||
Total | 124 | |
2,017 | 124 | |
Development commitments | ||
Material commitments | ||
Total | 117,019 | |
2,017 | 114,229 | |
2018-2019 | 2,790 | |
HC-One Facility | ||
Material commitments | ||
Total | £ 35 | 43,107 |
2,017 | 39,946 | |
2018-2019 | 3,161 | |
Unsecured Debt. | Revolving credit facility | ||
Material commitments | ||
Total | $ 100,000 | |
Decrease of credit facility as a percentage of retained cash flow | 50.00% |
Commitments and Contingencies78
Commitments and Contingencies - Maturities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)item | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Leases with purchase options, annualized base rent receivables in next five years and thereafter | |||
Leases with purchase option, annualized base rent receivables in 2017 | $ 16,202 | ||
Leases with purchase option, annualized base rent receivables in 2018 | 20,028 | ||
Leases with purchase option, annualized base rent receivables in 2019 | 14,411 | ||
Leases with purchase option, annualized base rent receivables in 2020 | 13,869 | ||
Leases with purchase option, annualized base rent receivables thereafter | 56,405 | ||
Total leases with purchase option, annualized base rent receivables | $ 120,915 | ||
Number of properties with purchase options, annualized base rent receivables | |||
Number of properties with a purchase option, annualized base rent receivables in 2017 | item | 9 | ||
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 | 2 | ||
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 | 51 | ||
Rental Expense | |||
Rental expense attributable to continuing operations | $ 10,000 | $ 10,000 | $ 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, 2017 | $ 7,294 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2018 | 7,303 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2019 | 7,448 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2020 | 7,018 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, 2021 | 6,688 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, Thereafter | 376,304 | ||
Future minimum lease obligations under non-cancelable ground and other operating leases, Total | $ 412,055 |
Equity (Details)
Equity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | Mar. 02, 2017$ / shares | Feb. 02, 2017$ / shares | Oct. 07, 2015USD ($)property | Oct. 31, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($)item$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014$ / sharesshares |
Equity | ||||||||
Dividends declared per common share (in dollars per share) | $ / shares | $ 0.37 | $ 2.095 | $ 2.26 | $ 2.18 | ||||
Dividends paid per common share | $ / shares | $ 2.095 | $ 2.26 | $ 2.18 | |||||
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 | |||||||
Proceeds from issuance of common stock | $ 73,000 | |||||||
Stock issuance fees and commissions | 1,000 | |||||||
Accumulated Other Comprehensive Loss | ||||||||
Cumulative foreign currency translation adjustment | $ (22,817) | (19,485) | ||||||
Unrealized losses on cash flow hedges, net | (3,642) | (7,582) | ||||||
Supplemental Executive Retirement Plan minimum liability | (3,129) | (3,411) | ||||||
Unrealized (losses) gains on available for sale securities | (54) | 8 | ||||||
Total accumulated other comprehensive loss | $ (29,642) | (30,470) | ||||||
Noncontrolling interests | ||||||||
Number of Down REIT units | item | 4,000,000 | |||||||
DownREIT unit, carrying value | $ 179,336 | $ 185,608 | ||||||
HCP Ventures V | ||||||||
Noncontrolling interests | ||||||||
Number of Real Estate Properties | property | 11 | |||||||
Subsequent event | ||||||||
Equity | ||||||||
Dividends paid per common share | $ / shares | $ 0.37 | |||||||
HCP Ventures V | ||||||||
Noncontrolling interests | ||||||||
Noncontrolling interest (as a percent) | 49.00% | 49.00% | ||||||
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | $ 110,000 | $ 110,000 | ||||||
Consideration received from sale of noncontrolling interest in HCP Ventures V | $ 110,000 | $ 110,000 | ||||||
Common Stock | ||||||||
Equity | ||||||||
Common stock issued (in shares) | shares | 2,552 | 5,117 | 2,939 | |||||
Company's common stock issuances | ||||||||
Dividend Reinvestment and Stock Purchase Plan (in shares) | shares | 2,021 | 2,762 | 2,299 | |||||
Conversion of DownREIT units (in shares) | shares | 145 | 104 | 27 | |||||
Exercise of stock options (in shares) | shares | 133 | 823 | 169 | |||||
Vesting of restricted stock units (in shares) | shares | 529 | 409 | 614 | |||||
Repurchase of common stock (in shares) | shares | 237 | 198 | 323 | |||||
Total Noncontrolling Interests | ||||||||
Company's common stock issuances | ||||||||
Conversion of DownREIT units (in shares) | shares | 7,000 | |||||||
Noncontrolling interests | ||||||||
Non-managing members DownREIT units outstanding | item | 4,000,000 | |||||||
Number of DownREIT LLCs | item | 5 | |||||||
DownREIT unit, carrying value | $ 179,000 | |||||||
DownREIT unit, fair value | $ 199,000 |
Segment Disclosures - Summary I
Segment Disclosures - Summary Information for the Reportable Segments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment reporting information, revenues | |||||||||||
Intersegment sales or transfers | $ 0 | $ 0 | |||||||||
Rental Revenues | 2,040,486,000 | 1,828,305,000 | $ 1,563,210,000 | ||||||||
HCP's share of earnings | 11,360,000 | 57,313,000 | 49,570,000 | ||||||||
Operating expenses | (738,399,000) | (610,679,000) | (381,294,000) | ||||||||
Segment NOI | 1,348,856,000 | 1,255,353,000 | 1,196,478,000 | ||||||||
Non-cash adjustments to NOI | 2,931,000 | 6,648,000 | (68,785,000) | ||||||||
Segment adjusted (cash) NOI | 1,351,787,000 | 1,262,001,000 | 1,127,693,000 | ||||||||
Addback non-cash adjustments | (2,931,000) | (6,648,000) | 68,785,000 | ||||||||
Interest Income | 88,808,000 | 112,184,000 | 73,623,000 | ||||||||
Interest expense | (464,403,000) | (479,596,000) | (439,742,000) | ||||||||
Depreciation and amortization | (568,108,000) | (504,905,000) | (455,016,000) | ||||||||
General and administrative | (103,611,000) | (95,965,000) | (81,765,000) | ||||||||
Acquisition and pursuit costs | (9,821,000) | (27,309,000) | (17,142,000) | ||||||||
Impairments, net | (108,349,000) | ||||||||||
Gain on sales of real estate, net | 164,698,000 | 6,377,000 | 3,288,000 | ||||||||
Loss on debt extinguishments | (46,020,000) | ||||||||||
Other income, net | 3,654,000 | 16,208,000 | 9,252,000 | ||||||||
Income tax expense | (4,473,000) | 9,807,000 | 506,000 | ||||||||
Less: HCP share of unconsolidated joint venture NOI | (46,769,000) | (37,727,000) | (14,562,000) | ||||||||
Equity income (loss) from unconsolidated joint ventures | 11,360,000 | 6,590,000 | (3,605,000) | ||||||||
Total discontinued operations | $ (18,246,000) | $ 108,215,000 | $ 107,378,000 | $ 68,408,000 | $ (679,765,000) | $ 130,210,000 | $ 158,479,000 | $ (308,028,000) | 265,755,000 | (699,086,000) | 665,276,000 |
Net income (loss) | $ 61,300,000 | $ 154,039,000 | $ 304,842,000 | $ 119,745,000 | $ (594,617,000) | $ 117,954,000 | $ 167,748,000 | $ (237,503,000) | 639,926,000 | (546,418,000) | 936,591,000 |
Corporate and other assets | |||||||||||
Segment reporting information, revenues | |||||||||||
Interest expense | (407,754,000) | (408,602,000) | (358,250,000) | ||||||||
Depreciation and amortization | (5,000) | ||||||||||
General and administrative | (103,611,000) | (95,965,000) | (81,765,000) | ||||||||
Acquisition and pursuit costs | (9,821,000) | (27,309,000) | (17,142,000) | ||||||||
Loss on debt extinguishments | (46,020,000) | ||||||||||
Other income, net | 3,654,000 | 16,208,000 | 9,252,000 | ||||||||
Income tax expense | (4,473,000) | 9,807,000 | 506,000 | ||||||||
Total discontinued operations | 265,755,000 | (699,086,000) | 665,276,000 | ||||||||
Net income (loss) | (302,270,000) | (1,204,947,000) | 217,872,000 | ||||||||
Intersegment Eliminations | |||||||||||
Segment reporting information, revenues | |||||||||||
Operating expenses | (169,035,000) | (154,259,000) | (51,891,000) | ||||||||
Parent Company | |||||||||||
Segment reporting information, revenues | |||||||||||
HCP's share of earnings | 215,804,000 | 191,986,000 | 66,453,000 | ||||||||
SH NNN | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
Rental Revenues | 423,118,000 | 428,269,000 | 538,113,000 | ||||||||
Operating expenses | (6,710,000) | (3,427,000) | (3,629,000) | ||||||||
Segment NOI | 416,408,000 | 424,842,000 | 534,484,000 | ||||||||
Non-cash adjustments to NOI | (7,566,000) | (9,716,000) | (66,474,000) | ||||||||
Segment adjusted (cash) NOI | 408,842,000 | 415,126,000 | 468,010,000 | ||||||||
Addback non-cash adjustments | 7,566,000 | 9,716,000 | 66,474,000 | ||||||||
Interest expense | (9,499,000) | (16,899,000) | (32,866,000) | ||||||||
Depreciation and amortization | (136,146,000) | (125,538,000) | (158,881,000) | ||||||||
Gain on sales of real estate, net | 48,744,000 | 6,325,000 | 3,288,000 | ||||||||
Net income (loss) | 319,507,000 | 288,730,000 | 346,025,000 | ||||||||
SHOP | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
Rental Revenues | 686,822,000 | 518,264,000 | 243,612,000 | ||||||||
Operating expenses | (480,870,000) | (371,016,000) | (163,650,000) | ||||||||
Segment NOI | 243,752,000 | 176,696,000 | 88,131,000 | ||||||||
Non-cash adjustments to NOI | 20,076,000 | 34,045,000 | 10,160,000 | ||||||||
Segment adjusted (cash) NOI | 263,828,000 | 210,741,000 | 98,291,000 | ||||||||
Addback non-cash adjustments | (20,076,000) | (34,045,000) | (10,160,000) | ||||||||
Interest expense | (29,745,000) | (31,869,000) | (31,648,000) | ||||||||
Depreciation and amortization | (108,806,000) | (80,981,000) | (42,153,000) | ||||||||
Gain on sales of real estate, net | 675,000 | ||||||||||
Less: HCP share of unconsolidated joint venture NOI | (37,800,000) | (29,448,000) | (8,169,000) | ||||||||
Equity income (loss) from unconsolidated joint ventures | 4,226,000 | (9,032,000) | (4,110,000) | ||||||||
Net income (loss) | 72,302,000 | 25,366,000 | 2,051,000 | ||||||||
SHOP | Intersegment Eliminations | |||||||||||
Segment reporting information, revenues | |||||||||||
Operating expenses | (166,791,000) | (151,962,000) | (49,571,000) | ||||||||
SHOP | Parent Company | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
HCP's share of earnings | 204,591,000 | 181,410,000 | 57,740,000 | ||||||||
Life science | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
Rental Revenues | 358,537,000 | 342,984,000 | 314,114,000 | ||||||||
Operating expenses | (72,478,000) | (70,217,000) | (63,080,000) | ||||||||
Segment NOI | 292,057,000 | 278,261,000 | 256,173,000 | ||||||||
Non-cash adjustments to NOI | (3,003,000) | (10,392,000) | (10,375,000) | ||||||||
Segment adjusted (cash) NOI | 289,054,000 | 267,869,000 | 245,798,000 | ||||||||
Addback non-cash adjustments | 3,003,000 | 10,392,000 | 10,375,000 | ||||||||
Interest expense | (2,357,000) | (2,878,000) | (3,141,000) | ||||||||
Depreciation and amortization | (130,829,000) | (126,241,000) | (111,552,000) | ||||||||
Gain on sales of real estate, net | 49,042,000 | ||||||||||
Less: HCP share of unconsolidated joint venture NOI | (5,998,000) | (5,494,000) | (5,139,000) | ||||||||
Equity income (loss) from unconsolidated joint ventures | 2,927,000 | 2,718,000 | 2,834,000 | ||||||||
Net income (loss) | 204,842,000 | 146,366,000 | 139,175,000 | ||||||||
Life science | Intersegment Eliminations | |||||||||||
Segment reporting information, revenues | |||||||||||
Operating expenses | (1,601,000) | (1,612,000) | (1,749,000) | ||||||||
Life science | Parent Company | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
HCP's share of earnings | 7,599,000 | 7,106,000 | 6,888,000 | ||||||||
Medical office | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
Rental Revenues | 446,280,000 | 415,351,000 | 368,055,000 | ||||||||
Operating expenses | (173,687,000) | (162,054,000) | (147,144,000) | ||||||||
Segment NOI | 273,994,000 | 254,555,000 | 222,165,000 | ||||||||
Non-cash adjustments to NOI | (3,557,000) | (4,933,000) | (1,291,000) | ||||||||
Segment adjusted (cash) NOI | 270,437,000 | 249,622,000 | 220,874,000 | ||||||||
Addback non-cash adjustments | 3,557,000 | 4,933,000 | 1,291,000 | ||||||||
Interest expense | (5,895,000) | (9,603,000) | (9,396,000) | ||||||||
Depreciation and amortization | (161,790,000) | (143,682,000) | (124,141,000) | ||||||||
Gain on sales of real estate, net | 8,333,000 | 52,000 | |||||||||
Less: HCP share of unconsolidated joint venture NOI | (1,401,000) | (1,258,000) | (1,254,000) | ||||||||
Equity income (loss) from unconsolidated joint ventures | 3,350,000 | 12,904,000 | (2,329,000) | ||||||||
Net income (loss) | 116,591,000 | 112,968,000 | 85,045,000 | ||||||||
Medical office | Intersegment Eliminations | |||||||||||
Segment reporting information, revenues | |||||||||||
Operating expenses | (595,000) | (612,000) | (571,000) | ||||||||
Medical office | Parent Company | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
HCP's share of earnings | 1,996,000 | 1,870,000 | 1,825,000 | ||||||||
Other | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
Rental Revenues | 125,729,000 | 123,437,000 | 99,316,000 | ||||||||
Operating expenses | (4,654,000) | (3,965,000) | (3,791,000) | ||||||||
Segment NOI | 122,645,000 | 120,999,000 | 95,525,000 | ||||||||
Non-cash adjustments to NOI | (3,019,000) | (2,356,000) | (805,000) | ||||||||
Segment adjusted (cash) NOI | 119,626,000 | 118,643,000 | 94,720,000 | ||||||||
Addback non-cash adjustments | 3,019,000 | 2,356,000 | 805,000 | ||||||||
Interest Income | 88,808,000 | 112,184,000 | 73,623,000 | ||||||||
Interest expense | (9,153,000) | (9,745,000) | (4,441,000) | ||||||||
Depreciation and amortization | (30,537,000) | (28,463,000) | (18,284,000) | ||||||||
Impairments, net | (108,349,000) | ||||||||||
Gain on sales of real estate, net | 57,904,000 | ||||||||||
Less: HCP share of unconsolidated joint venture NOI | (1,570,000) | (1,527,000) | |||||||||
Equity income (loss) from unconsolidated joint ventures | 857,000 | ||||||||||
Net income (loss) | 228,954,000 | 85,099,000 | $ 146,423,000 | ||||||||
Other | Intersegment Eliminations | |||||||||||
Segment reporting information, revenues | |||||||||||
Operating expenses | (48,000) | (73,000) | |||||||||
Other | Parent Company | Operating segment | |||||||||||
Segment reporting information, revenues | |||||||||||
HCP's share of earnings | $ 1,618,000 | $ 1,600,000 |
Segment Disclosures - Revenues
Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Disclosure | |||||||||||
Total revenues | $ 539,950 | $ 530,555 | $ 538,332 | $ 520,457 | $ 520,325 | $ 508,900 | $ 459,806 | $ 451,458 | $ 2,129,294 | $ 1,940,489 | $ 1,636,833 |
Assets held for sale and discontinued operations, net | 927,866 | 5,654,326 | 927,866 | 5,654,326 | |||||||
Total assets | 15,759,265 | 21,449,849 | 15,759,265 | 21,449,849 | |||||||
Goodwill | 42,386 | 47,019 | 42,386 | 47,019 | |||||||
Impairment related to goodwill | 0 | ||||||||||
Operating segment | |||||||||||
Segment Disclosure | |||||||||||
Gross assets | 15,263,090 | 15,407,019 | 15,263,090 | 15,407,019 | |||||||
Accumulated depreciation and amortization | (2,900,060) | (2,704,425) | (2,900,060) | (2,704,425) | |||||||
Total assets | 12,363,030 | 12,702,594 | 12,363,030 | 12,702,594 | |||||||
Operating segment | SH NNN | |||||||||||
Segment Disclosure | |||||||||||
Total revenues | 423,118 | 428,269 | 538,113 | ||||||||
Gross assets | 3,871,720 | 5,092,443 | 3,871,720 | 5,092,443 | |||||||
Goodwill | 16,000 | 21,000 | 16,000 | 21,000 | |||||||
Operating segment | SHOP | |||||||||||
Segment Disclosure | |||||||||||
Total revenues | 686,822 | 518,264 | 243,612 | ||||||||
Gross assets | 3,623,931 | 3,195,384 | 3,623,931 | 3,195,384 | |||||||
Goodwill | 9,000 | 9,000 | 9,000 | 9,000 | |||||||
Operating segment | Life science | |||||||||||
Segment Disclosure | |||||||||||
Total revenues | 358,537 | 342,984 | 314,114 | ||||||||
Gross assets | 4,029,500 | 3,682,308 | 4,029,500 | 3,682,308 | |||||||
Operating segment | Medical office | |||||||||||
Segment Disclosure | |||||||||||
Total revenues | 446,280 | 415,351 | 368,055 | ||||||||
Gross assets | 3,737,939 | 3,436,884 | 3,737,939 | 3,436,884 | |||||||
Goodwill | 11,000 | 11,000 | 11,000 | 11,000 | |||||||
Operating segment | Other | |||||||||||
Segment Disclosure | |||||||||||
Total revenues | 214,537 | 235,621 | $ 172,939 | ||||||||
Total assets | 1,685,563 | 1,787,579 | 1,685,563 | 1,787,579 | |||||||
Goodwill | 6,000 | 6,000 | 6,000 | 6,000 | |||||||
Other non-segment | |||||||||||
Segment Disclosure | |||||||||||
Total assets | $ 782,806 | $ 1,305,350 | $ 782,806 | $ 1,305,350 |
Future Minimum Rent (Details)
Future Minimum Rent (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Future minimum lease payments received | |
2,017 | $ 1,068,698 |
2,018 | 995,723 |
2,019 | 899,038 |
2,020 | 825,614 |
2,021 | 750,635 |
Thereafter | 3,546,462 |
Total | $ 8,086,170 |
Compensation Plans - Others (De
Compensation Plans - Others (Details) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2016USD ($)item$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)shares | May 01, 2014shares | |
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Total share-based compensation expense recognized | $ | $ 23 | $ 26 | $ 22 | |
Deferred compensation cost | $ | $ 14 | $ 19 | ||
Total unrecognized compensation cost, period of recognition | 3 years | |||
Number of impacted participants on spin off | item | 133 | |||
Business days, period | 5 days | |||
Common Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 10 years | |||
Shares under Options (in shares) | 1,300,000 | 1,700,000 | ||
Currently Exercisable - Shares Under Options (in shares) | 1,200,000 | 1,400,000 | ||
Proceeds received from options exercised | $ | $ 4 | $ 28 | $ 5 | |
Restricted Stock and Performance Restricted Stock Units | ||||
Restricted Stock and Performance Restricted Stock Units | ||||
Shares withheld to offset tax withholding obligations (in shares) | 237,000 | 200,000 | 323,000 | |
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 | $ | $ 24 | $ 21 | $ 24 | |
Restricted stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 3 years | |||
Unvested restricted stock and performance restricted stock units activity | ||||
Unvested at the beginning of the period (in shares) | 36,000 | |||
Vested (in shares) | (36,000) | |||
Unvested at the end of the period (in shares) | 36,000 | |||
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 41.77 | |||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 41.77 | |||
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 41.77 | |||
Restricted Stock Units | ||||
Unvested restricted stock and performance restricted stock units activity | ||||
Unvested at the beginning of the period (in shares) | 867,000 | |||
Granted (in shares) | 790,000 | |||
Vested (in shares) | (528,000) | |||
Forfeited (in shares) | (167,000) | |||
Unvested at the end of the period (in shares) | 962,000 | 867,000 | ||
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 43.34 | |||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | 34.86 | |||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | 42.07 | |||
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | 41.48 | |||
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 37.39 | $ 43.34 | ||
Minimum | Common Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 3 years | |||
Minimum | Restricted stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 1 year | |||
Unvested restricted stock and performance restricted stock units activity | ||||
Percentage of performance metrics during performance period | 0.00% | |||
Maximum | Common Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 5 years | |||
Maximum | Restricted stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Information | ||||
Stock-based awards, vesting period | 4 years | |||
Unvested restricted stock and performance restricted stock units activity | ||||
Percentage of performance metrics during performance period | 200.00% | |||
Former Chairman, Chief Executive Officer and President | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Total share-based compensation expense recognized | $ | $ 7 | |||
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) | 31,000,000 | |||
Maximum number of shares available for future awards to be issued as restricted stock and performance restricted stock unit | 21,000,000 |
Impairments - Equity Method Inv
Impairments - Equity Method Investments (Details) $ in Thousands, £ in Millions | 3 Months Ended | |||||
Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015GBP (£) | Sep. 30, 2015USD ($) | |
Investment Impairments | ||||||
Held-to-maturity debt securities, principal balance | $ 68,630 | $ 102,958 | ||||
Four Seasons | Discounted cash flow valuation technique | Level 2 | ||||||
Investment Impairments | ||||||
Impairments of investments in unconsolidated joint ventures | $ 70,000 | $ 42,000 | ||||
Held-to-maturity debt securities, principal balance | £ 66 | $ 100,000 |
Impairments - Real Estate (Deta
Impairments - Real Estate (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Oct. 31, 2015 | Jul. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2016 | |
Property impairments | |||||
Real estate impairment charges | $ 3,118,000 | ||||
Carrying value of aggregate investments | $ 12,007,071,000 | $ 11,692,654,000 | |||
Delphis | |||||
Property impairments | |||||
Proceeds from borrower | $ 23,000,000 | ||||
Loan receivable impairment recovery recognized | $ 6,000,000 | ||||
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, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 07, 2011 | |
Income tax disclosure | ||||||||||||
Income (loss) before income taxes | $ 67,530,000 | $ 47,453,000 | $ 196,352,000 | $ 55,949,000 | $ 70,408,000 | $ (11,263,000) | $ 6,320,000 | $ 70,806,000 | $ 367,284,000 | $ 136,271,000 | $ 274,414,000 | |
Current | ||||||||||||
Federal | 8,525,000 | 4,948,000 | 1,833,000 | |||||||||
State | 8,307,000 | 1,988,000 | 2,018,000 | |||||||||
Foreign | 1,332,000 | 828,000 | 223,000 | |||||||||
Total current | 18,164,000 | 7,764,000 | 4,074,000 | |||||||||
Deferred | ||||||||||||
Federal | (10,241,000) | (11,317,000) | (3,278,000) | |||||||||
State | (1,401,000) | (1,382,000) | (347,000) | |||||||||
Foreign | (2,049,000) | (4,872,000) | (955,000) | |||||||||
Total deferred | (13,691,000) | (17,571,000) | (4,580,000) | |||||||||
Total income tax (benefit) expense | 4,473,000 | (9,807,000) | (506,000) | |||||||||
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 | (4,581,000) | (12,630,000) | (2,131,000) | |||||||||
State income tax expense, net of federal tax | 6,081,000 | (606,000) | 134,000 | |||||||||
Gross receipts and margin taxes | 1,847,000 | 1,383,000 | 1,573,000 | |||||||||
Foreign rate differential | 647,000 | 2,269,000 | 554,000 | |||||||||
Effect of permanent differences | (280,000) | (298,000) | (196,000) | |||||||||
Return to provision adjustments | 287,000 | (368,000) | (528,000) | |||||||||
Increase in valuation allowance | 472,000 | 443,000 | 88,000 | |||||||||
Total income tax (benefit) expense | 4,473,000 | (9,807,000) | (506,000) | |||||||||
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 | 28,940,000 | 19,862,000 | 28,940,000 | 19,862,000 | 3,418,000 | |||||||
Net operating loss carryforward | 8,784,000 | 3,703,000 | 8,784,000 | 3,703,000 | 484,000 | |||||||
Expense accruals and other | (847,000) | (753,000) | (847,000) | (753,000) | 462,000 | |||||||
Valuation allowance | (606,000) | (531,000) | (606,000) | (531,000) | (88,000) | |||||||
Net deferred tax assets | 36,271,000 | 22,281,000 | 36,271,000 | 22,281,000 | 4,276,000 | |||||||
Amount that tax basis of net assets is less than reported amounts | 2,000,000,000 | 6,500,000,000 | 2,000,000,000 | 6,500,000,000 | 6,500,000,000 | |||||||
Discontinued Operation, Tax Effect of Discontinued Operation | $ 53,000,000 | 48,181,000 | 796,000 | 756,000 | ||||||||
Deferred income tax expense | (13,691,000) | (17,571,000) | (4,580,000) | |||||||||
Unrecognized tax benefits | 0 | $ 0 | 0 | 0 | ||||||||
UNITED KINGDOM | ||||||||||||
Income tax disclosure | ||||||||||||
Income (loss) before income taxes | 4,000,000 | 15,000,000 | 4,000,000 | |||||||||
TRS | ||||||||||||
Income tax disclosure | ||||||||||||
Income (loss) before income taxes | 9,000,000 | $ 22,000,000 | 2,000,000 | |||||||||
The significant components of the Company?s deferred tax assets and liabilities | ||||||||||||
Net operating loss carryforward | $ 24,000,000 | $ 24,000,000 | ||||||||||
HCRMC | ||||||||||||
The significant components of the Company?s deferred tax assets and liabilities | ||||||||||||
Net (decrease) increase in unrecognized tax benefits | $ (1,000,000) | |||||||||||
Unrecognized tax benefits | $ 2,000,000 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Numerator - Basic | |||||||||||
Income from continuing operations | $ 374,171 | $ 152,668 | $ 271,315 | ||||||||
Noncontrolling interests? share in continuing operations | (12,179) | (12,817) | (13,181) | ||||||||
Income from continuing operations applicable to HCP, Inc. | 361,992 | 139,851 | 258,134 | ||||||||
Participating securities' share in earnings | (1,198) | (1,317) | (2,437) | ||||||||
Income from continuing operations applicable to common shares | 360,794 | 138,534 | 255,697 | ||||||||
Discontinued operations | $ (18,246) | $ 108,215 | $ 107,378 | $ 68,408 | $ (679,765) | $ 130,210 | $ 158,479 | $ (308,028) | 265,755 | (699,086) | 665,276 |
Noncontrolling interests' share in discontinued operations | (1,177) | ||||||||||
Net income (loss) applicable to common shares | $ 626,549 | $ (560,552) | $ 919,796 | ||||||||
Denominator | |||||||||||
Basic weighted average common shares | 467,195 | 462,795 | 458,425 | ||||||||
Dilutive potential common shares | 208 | 371 | |||||||||
Diluted weighted average common shares | 467,403 | 462,795 | 458,796 | ||||||||
Basic earnings per common share: | |||||||||||
Continuing operations (in dollars per share) | $ 0.77 | $ 0.30 | $ 0.56 | ||||||||
Discontinued operations (in dollars per share) | 0.57 | (1.51) | 1.45 | ||||||||
Net income (loss) applicable to common shares (in dollars per share) | $ 0.120 | $ 0.320 | $ 0.650 | $ 0.250 | $ (1.29) | $ 0.25 | $ 0.36 | $ (0.52) | 1.34 | (1.21) | 2.01 |
Diluted earnings per common share | |||||||||||
Continuing operations (in dollars per share) | 0.77 | 0.30 | 0.56 | ||||||||
Discontinued operations (in dollars per share) | 0.57 | (1.51) | 1.44 | ||||||||
Net income (loss) applicable to common shares (in dollars per share) | $ 0.120 | $ 0.320 | $ 0.640 | $ 0.250 | $ (1.29) | $ 0.25 | $ 0.36 | $ (0.52) | $ 1.34 | $ (1.21) | $ 2 |
Common Stock Options | |||||||||||
Diluted earnings per common share | |||||||||||
Shares of anti-dilutive securities excluded from earnings per share calculation | 1,100 | 1,400 | |||||||||
Down REIT | |||||||||||
Diluted earnings per common share | |||||||||||
Shares of anti-dilutive securities excluded from earnings per share calculation | 7,000 | ||||||||||
DownREIT LLCs, non-managing member units outstanding | 4,000 |
Supplemental Cash Flow Inform88
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental cash flow information: | |||
Interest paid, net of capitalized interest | $ 489,453 | $ 451,615 | $ 410,286 |
Income taxes paid | 13,727 | 6,959 | 5,071 |
Capitalized interest | 11,108 | 8,798 | 10,314 |
Supplemental schedule of non-cash investing and financing activities: | |||
Accrued construction costs | 49,999 | 52,511 | 37,178 |
Non-cash impact of QCP Spin-off, net | 3,539,584 | ||
Securities transferred for debt defeasance | 73,278 | ||
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 | ||
Tenant funded tenant improvements owned by HCP | 27,014 | 28,850 | 21,863 |
Vesting of restricted stock units | 529 | 409 | 614 |
Conversion of non-managing member units into common stock | 6,093 | 2,979 | 473 |
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 interests issued in connection with real estate and other acquisitions | 10,971 | 6,321 | |
Noncontrolling interest assumed in connection with real estate disposition | 1,671 | ||
Mortgages and other liabilities assumed with real estate acquisitions | 82,985 | 23,218 | 37,149 |
Foreign currency translation adjustment | (3,332) | (8,738) | (9,967) |
Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net | $ 3,171 | $ 1,889 | $ 2,271 |
Variable Interest Entities (Det
Variable Interest Entities (Details) $ in Thousands, € in Millions | Jan. 01, 2016USD ($) | Sep. 30, 2011 | Dec. 31, 2016EUR (€)entityitem | Dec. 31, 2016USD ($)entityitem | Dec. 31, 2015USD ($) | Aug. 29, 2014 |
Company's involvement with VIEs: | ||||||
Joint Venture Ownership Percentage | 49.00% | |||||
Number of joint ventures deconsolidated | item | 3 | |||||
Number of VIE borrowers with debt securities and loan | entity | 2 | 2 | ||||
Cumulative-effect adjustment to cumulative dividends in excess of earnings | $ 500 | |||||
Mezzanine | $ 615,188 | $ 660,138 | ||||
Vintage Park Development JV | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 90.00% | |||||
Unconsolidated Variable Interest Entities | ||||||
Company's involvement with VIEs: | ||||||
Number of unconsolidated joint ventures | item | 3 | |||||
Number of properties leased | item | 48 | 48 | ||||
Number of VIE tenants | item | 7 | 7 | ||||
CCRC OpCo | ||||||
Company's involvement with VIEs: | ||||||
Joint Venture Ownership Percentage | 49.00% | |||||
Maximum Loss Exposure | $ 103,315 | |||||
Carrying amount | 103,315 | |||||
Vintage Park Development JV | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | 7,486 | |||||
Carrying amount | $ 7,486 | |||||
VIE tenants-operating leases | ||||||
Company's involvement with VIEs: | ||||||
Number of properties leased | item | 48 | 48 | ||||
Maximum Loss Exposure | $ 7,628 | |||||
Carrying amount | 7,628 | |||||
VIE tenants-DFLs | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | 601,132 | |||||
Carrying amount | 601,132 | |||||
Four Seasons | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | 85,430 | |||||
Carrying amount | 85,430 | |||||
Loan-senior secured | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | 131,215 | |||||
Carrying amount | $ 131,215 | |||||
Loan-senior secured | SH NNN | ||||||
Company's involvement with VIEs: | ||||||
Number of VIE tenants | item | 7 | 7 | ||||
Loan-seller financing | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | $ 10,000 | |||||
Carrying amount | 10,000 | |||||
Loan-seller financing | SH NNN | ||||||
Company's involvement with VIEs: | ||||||
Mezzanine | 10,000 | |||||
Term of facility | 5 years | |||||
CMBS and LLC investment | ||||||
Company's involvement with VIEs: | ||||||
Maximum Loss Exposure | 33,275 | |||||
Carrying amount | 33,275 | |||||
MMCG | Bridge Loan | ||||||
Company's involvement with VIEs: | ||||||
Loan amount | € 105 | 131,000 | ||||
Period of call-option retained | 3 years | |||||
Consolidated Variable Interest Entities | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 90.00% | |||||
Consolidated Variable Interest Entities | Accounting Standards Update ("ASU") 2015-02 - Consolidation | Adjustment | ||||||
Company's involvement with VIEs: | ||||||
Total assets | 543,000 | |||||
Total liabilities | $ 651,000 | |||||
RIDEA II | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 80.00% | |||||
RIDEA III | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 90.00% | |||||
HCP Ventures V | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 51.00% | |||||
Vintage Park Development JV | ||||||
Company's involvement with VIEs: | ||||||
Ownership percentage (as a percent) | 85.00% | |||||
Exchange Accommodation Titleholder ("EAT") | ||||||
Company's involvement with VIEs: | ||||||
Carrying amount | $ 37,000 | |||||
DownREIT Partnerships | ||||||
Company's involvement with VIEs: | ||||||
Number of controlling ownership interest entities as a managing member | item | 5 |
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, 2016 | Dec. 31, 2015 |
Summary of financial instruments | ||
Bank line of credit | $ 899,718 | $ 397,432 |
Senior unsecured notes | 7,133,538 | 9,120,107 |
Mortgage debt | 623,792 | 932,212 |
Other debt | 92,385 | 94,445 |
Carrying Value | ||
Summary of financial instruments | ||
Loans receivable, net | 807,954 | 768,743 |
Marketable debt securities | 68,630 | 102,958 |
Marketable equity securities | 76 | 39 |
Bank line of credit | 899,718 | 397,432 |
Term loans | 440,062 | 524,807 |
Senior unsecured notes | 7,133,538 | 9,120,107 |
Mortgage debt | 623,792 | 932,212 |
Other debt | 92,385 | 94,445 |
Carrying Value | Warrants | ||
Summary of financial instruments | ||
Derivative assets | 19 | 55 |
Carrying Value | Interest-rate swap contracts | ||
Summary of financial instruments | ||
Derivative assets | 196 | |
Derivative liabilities | 4,857 | 6,251 |
Carrying Value | Currency Swap | ||
Summary of financial instruments | ||
Derivative assets | 2,920 | 1,551 |
Fair Value | Level 1 | ||
Summary of financial instruments | ||
Marketable debt securities | 68,630 | 102,958 |
Marketable equity securities | 76 | 39 |
Senior unsecured notes | 7,386,149 | 9,390,668 |
Fair Value | Level 2 | ||
Summary of financial instruments | ||
Loans receivable, net | 807,505 | 770,052 |
Bank line of credit | 899,718 | 397,432 |
Term loans | 440,062 | 524,807 |
Mortgage debt | 609,374 | 963,786 |
Other debt | 92,385 | 94,445 |
Fair Value | Warrants | Level 3 | ||
Summary of financial instruments | ||
Derivative assets | 19 | 55 |
Fair Value | Interest-rate swap contracts | Level 2 | ||
Summary of financial instruments | ||
Derivative assets | 196 | |
Derivative liabilities | 4,857 | 6,251 |
Fair Value | Currency Swap | Level 2 | ||
Summary of financial instruments | ||
Derivative assets | $ 2,920 | $ 1,551 |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details) | Jan. 01, 2015item | Dec. 31, 2016propertyitem | Dec. 31, 2015 | Dec. 31, 2014 | Oct. 31, 2016property | Jan. 31, 2016property |
Concentration of risk | ||||||
Number of properties classified as held for sale | property | 2 | |||||
Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Number of properties classified as held for sale | property | 8 | |||||
Brookdale Senior Living | Minimum | ||||||
Concentration of risk | ||||||
Percentage of EDITDAR payable as base management fee | 4.50% | |||||
Brookdale Senior Living | Maximum | ||||||
Concentration of risk | ||||||
Percentage of EDITDAR payable as base management fee | 5.00% | |||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Investments in Joint Ventures Senior Housing Facilities Number | 108 | |||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | Minimum | ||||||
Concentration of risk | ||||||
Management agreement term (in years) | 10 years | |||||
Senior housing | Management and Accounting Services | Brookdale Senior Living | Maximum | ||||||
Concentration of risk | ||||||
Management agreement term (in years) | 15 years | |||||
SHOP | ||||||
Concentration of risk | ||||||
Number of facilities owned by RIDEA joint ventures | 2 | |||||
SHOP | Management and Accounting Services | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Number of facilities owned by RIDEA joint ventures | 16 | |||||
SH NNN | ||||||
Concentration of risk | ||||||
Number of properties classified as held for sale | property | 64 | |||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Management agreement renewal term (in years) | 5 years | |||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | Minimum | ||||||
Concentration of risk | ||||||
Management Agreement Number of Renewals | 3 | |||||
Management and Accounting Services | Senior housing | Brookdale Senior Living | Maximum | ||||||
Concentration of risk | ||||||
Management Agreement Number of Renewals | 4 | |||||
Total Assets | SHOP | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 18.00% | 17.00% | ||||
Total Assets | Tenants and Operators | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 17.00% | 13.00% | ||||
Total Assets | Tenants and Operators | Senior housing | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 69.00% | 53.00% | ||||
Revenue | Tenants and Operators | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 12.00% | 13.00% | 19.00% | |||
Revenue | Tenants and Operators | Senior housing | Brookdale Senior Living | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 59.00% | 58.00% | 59.00% | |||
California | Total Assets | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 29.00% | 30.00% | ||||
California | Revenue | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 26.00% | 27.00% | 30.00% | |||
Texas | Total Assets | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 14.00% | 14.00% | ||||
Texas | Revenue | ||||||
Concentration of risk | ||||||
Concentration risk (as a percent) | 17.00% | 16.00% | 15.00% |
Derivative Financial Instrume92
Derivative Financial Instruments (Details) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2016GBP (£)item | Dec. 31, 2016USD ($)item | |
Maximum | |||
Derivative | |||
Estimate change in fair value of derivative for assumption of one percentage point change in the interest rate | $ 3,000,000 | ||
Net Investment Hedging | Facility and 2012 Term Loan | |||
Derivative | |||
Notional amount | £ | £ 268,000 | ||
Interest rate swap, entered in July 2005, maturity in July 2020 | BMA Swap Index | |||
Derivative | |||
Notional amount | $ 44,500,000 | ||
Fair value of interest rate hedge, liabilities | $ (3,662,000) | ||
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 January 2015, maturity in October 2017 | GBP LIBOR | |||
Derivative | |||
Notional amount | £ | £ 220,000 | ||
Fair value of interest rate hedge, liabilities | $ (1,195,000) | ||
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% | |
Currency swap, entered in January 2015, maturity in October 2017 | |||
Derivative | |||
Notional amount | £ | £ 10,500 | ||
Fair value of foreign currency hedge, assets | $ 2,920,000 | ||
Currency swap, entered in January 2015, maturity in October 2017 | Cash flow hedge | |||
Derivative | |||
Semi annual buy (sell) amount | $ 16,000,000 | ||
Currency swap, entered in January 2015, maturity in October 2017 | Cash flow hedge | GBP LIBOR | |||
Derivative | |||
Floating/Exchange Rate Index, percentage | 0.975% | 0.975% |
Selected Quarterly Financial 93
Selected Quarterly Financial Data (Unaudited) - Results of Operations for Properties Sold or to be Sole (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Total revenues | $ 539,950 | $ 530,555 | $ 538,332 | $ 520,457 | $ 520,325 | $ 508,900 | $ 459,806 | $ 451,458 | $ 2,129,294 | $ 1,940,489 | $ 1,636,833 | ||
Total discontinued operations | (18,246) | 108,215 | 107,378 | 68,408 | (679,765) | 130,210 | 158,479 | (308,028) | 265,755 | (699,086) | 665,276 | ||
Income before income taxes and equity income from investments in unconsolidated joint ventures | 67,530 | 47,453 | 196,352 | 55,949 | 70,408 | (11,263) | 6,320 | 70,806 | 367,284 | 136,271 | 274,414 | ||
Net (loss) income | 61,300 | 154,039 | 304,842 | 119,745 | (594,617) | 117,954 | 167,748 | (237,503) | 639,926 | (546,418) | 936,591 | ||
Net income (loss) attributable to HCP, Inc. | $ 58,661 | $ 151,250 | $ 301,717 | $ 116,119 | $ (598,868) | $ 115,362 | $ 164,885 | $ (240,614) | $ 627,747 | $ (559,235) | $ 922,233 | ||
Basic earnings per common share (in dollars per share) | $ 0.120 | $ 0.320 | $ 0.650 | $ 0.250 | $ (1.29) | $ 0.25 | $ 0.36 | $ (0.52) | $ 1.34 | $ (1.21) | $ 2.01 | ||
Diluted earnings per common share (in dollars per share | $ 0.120 | $ 0.320 | $ 0.640 | $ 0.250 | $ (1.29) | $ 0.25 | $ 0.36 | $ (0.52) | $ 1.34 | $ (1.21) | $ 2 | ||
Loss on debt extinguishment | $ 46,020 | ||||||||||||
Transaction costs | (86,765) | ||||||||||||
Gain on sales of real estate | $ 120,000 | ||||||||||||
Income tax expense | $ 53,000 | $ 48,181 | $ 796 | $ 756 | |||||||||
Impairments, net | $ (108,349) | ||||||||||||
Four Seasons | |||||||||||||
Impairments, net | $ 70,000 | $ 42,000 | |||||||||||
HCRMC | |||||||||||||
Income tax expense | $ 49,000 | ||||||||||||
Impairment charges related to investments in DFLs | $ 478,000 | ||||||||||||
Impairments of investments in unconsolidated joint ventures | $ 27,000 | $ 19,000 | $ 27,000 | $ 36,000 | |||||||||
HCRMC | DFL Portfolio | |||||||||||||
Impairment charges related to investments in DFLs | $ 817,000 | $ 478,000 | |||||||||||
Spinoff | |||||||||||||
Transaction costs | $ 58,000 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance Accounts | |||
Movement in Valuation Allowances and Reserves | |||
Balance at the beginning of the year | $ 36,180 | $ 50,531 | $ 48,136 |
Additions | |||
Amounts Charged Against Operations, net | 1,177 | 3,174 | 5,600 |
Deductions | |||
Uncollectible Accounts Written-off | (2,843) | (17,209) | (2,512) |
Disposed Properties | (4,996) | (316) | (693) |
Balance at the end of the year | 29,518 | 36,180 | 50,531 |
Allowances for loan and excludes discontinued operations | |||
Movement in Valuation Allowances and Reserves | |||
Balance at the beginning of the year | $ 818,000 | 1,000 | |
Deductions | |||
Balance at the end of the year | $ 818,000 | $ 1,000 |
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, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 623,792 | |||
Initial Cost to Company | ||||
Land | 1,870,192 | |||
Buildings and Improvements | 10,369,449 | |||
Costs Capitalized Subsequent to Acquisition | 2,313,745 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,881,487 | |||
Buildings and Improvements | 12,093,273 | |||
Total | 13,974,760 | $ 14,330,257 | $ 12,931,832 | $ 12,592,841 |
Accumulated Depreciation | (2,648,930) | $ (2,476,015) | $ (2,190,486) | $ (1,965,592) |
Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 624,598 | |||
Initial Cost to Company | ||||
Land | 1,870,192 | |||
Buildings and Improvements | 10,369,449 | |||
Costs Capitalized Subsequent to Acquisition | 2,313,407 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,881,487 | |||
Buildings and Improvements | 12,093,091 | |||
Total | 13,974,578 | |||
Accumulated Depreciation | (2,648,841) | |||
Corporate and other assets | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | (806) | |||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | 338 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 182 | |||
Total | 182 | |||
Accumulated Depreciation | (89) | |||
Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 53,674 | |||
Initial Cost to Company | ||||
Land | 320,682 | |||
Buildings and Improvements | 2,686,038 | |||
Costs Capitalized Subsequent to Acquisition | 316,894 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 320,982 | |||
Buildings and Improvements | 2,746,728 | |||
Total | 3,067,710 | |||
Accumulated Depreciation | (624,171) | |||
Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 553,838 | |||
Initial Cost to Company | ||||
Land | 288,417 | |||
Buildings and Improvements | 2,447,074 | |||
Costs Capitalized Subsequent to Acquisition | 285,921 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 289,240 | |||
Buildings and Improvements | 2,663,281 | |||
Total | 2,952,521 | |||
Accumulated Depreciation | (413,672) | |||
Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 7,471 | |||
Initial Cost to Company | ||||
Land | 885,895 | |||
Buildings and Improvements | 1,977,011 | |||
Costs Capitalized Subsequent to Acquisition | 917,979 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 888,397 | |||
Buildings and Improvements | 2,850,690 | |||
Total | 3,739,087 | |||
Accumulated Depreciation | (626,840) | |||
Medical office | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | 9,615 | |||
Initial Cost to Company | ||||
Land | 257,661 | |||
Buildings and Improvements | 2,641,298 | |||
Costs Capitalized Subsequent to Acquisition | 674,982 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 265,244 | |||
Buildings and Improvements | 3,180,514 | |||
Total | 3,445,758 | |||
Accumulated Depreciation | (827,741) | |||
United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | 117,537 | |||
Buildings and Improvements | 618,028 | |||
Costs Capitalized Subsequent to Acquisition | 117,631 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 117,624 | |||
Buildings and Improvements | 651,878 | |||
Total | 769,502 | |||
Accumulated Depreciation | (156,417) | |||
1107 Huntsville AL | Senior housing | ||||
Initial Cost to Company | ||||
Land | 307 | |||
Buildings and Improvements | 5,813 | |||
Costs Capitalized Subsequent to Acquisition | 307 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 307 | |||
Buildings and Improvements | 5,453 | |||
Total | 5,760 | |||
Accumulated Depreciation | $ (1,397) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
786 Douglas AZ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 110 | |||
Buildings and Improvements | 703 | |||
Costs Capitalized Subsequent to Acquisition | 110 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 110 | |||
Buildings and Improvements | 703 | |||
Total | 813 | |||
Accumulated Depreciation | $ (345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
518 Tucson AZ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,350 | |||
Buildings and Improvements | 24,037 | |||
Costs Capitalized Subsequent to Acquisition | 2,350 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,350 | |||
Buildings and Improvements | 24,037 | |||
Total | 26,387 | |||
Accumulated Depreciation | $ (10,616) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1238 Beverly Hills CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 9,872 | |||
Buildings and Improvements | 32,590 | |||
Costs Capitalized Subsequent to Acquisition | 9,872 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,872 | |||
Buildings and Improvements | 37,584 | |||
Total | 47,456 | |||
Accumulated Depreciation | $ (10,270) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
883 Carmichael CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,270 | |||
Buildings and Improvements | 13,846 | |||
Costs Capitalized Subsequent to Acquisition | 4,270 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,270 | |||
Buildings and Improvements | 13,236 | |||
Total | 17,506 | |||
Accumulated Depreciation | $ (3,337) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2204 Chino Hills CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,720 | |||
Buildings and Improvements | 41,183 | |||
Costs Capitalized Subsequent to Acquisition | 3,720 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,720 | |||
Buildings and Improvements | 41,183 | |||
Total | 44,903 | |||
Accumulated Depreciation | $ (3,555) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
851 Citrus Heights CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,180 | |||
Buildings and Improvements | 8,367 | |||
Costs Capitalized Subsequent to Acquisition | 1,180 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,180 | |||
Buildings and Improvements | 8,037 | |||
Total | 9,217 | |||
Accumulated Depreciation | $ (2,834) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 years | |||
2092 Clearlake CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 354 | |||
Buildings and Improvements | 4,799 | |||
Costs Capitalized Subsequent to Acquisition | 354 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 354 | |||
Buildings and Improvements | 5,086 | |||
Total | 5,440 | |||
Accumulated Depreciation | $ (699) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
790 Concord CA | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 25 | |||
Initial Cost to Company | ||||
Land | 6,010 | |||
Buildings and Improvements | 39,601 | |||
Costs Capitalized Subsequent to Acquisition | 6,010 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,010 | |||
Buildings and Improvements | 38,301 | |||
Total | 44,311 | |||
Accumulated Depreciation | $ (10,918) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
787 Dana Point CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,960 | |||
Buildings and Improvements | 15,946 | |||
Costs Capitalized Subsequent to Acquisition | 1,960 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,960 | |||
Buildings and Improvements | 15,466 | |||
Total | 17,426 | |||
Accumulated Depreciation | $ (4,414) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
798 Escondido CA | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 14,340 | |||
Initial Cost to Company | ||||
Land | 5,090 | |||
Buildings and Improvements | 24,253 | |||
Costs Capitalized Subsequent to Acquisition | 5,090 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,090 | |||
Buildings and Improvements | 23,353 | |||
Total | 28,443 | |||
Accumulated Depreciation | $ (6,666) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2054 Fortuna CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 818 | |||
Buildings and Improvements | 3,295 | |||
Costs Capitalized Subsequent to Acquisition | 818 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 818 | |||
Buildings and Improvements | 3,309 | |||
Total | 4,127 | |||
Accumulated Depreciation | $ (1,249) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2079 Fortuna CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,346 | |||
Buildings and Improvements | 11,856 | |||
Costs Capitalized Subsequent to Acquisition | 1,346 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,346 | |||
Buildings and Improvements | 11,954 | |||
Total | 13,300 | |||
Accumulated Depreciation | $ (3,231) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
791 Fremont CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,360 | |||
Buildings and Improvements | 11,672 | |||
Costs Capitalized Subsequent to Acquisition | 2,360 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,360 | |||
Buildings and Improvements | 11,192 | |||
Total | 13,552 | |||
Accumulated Depreciation | $ (3,195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
788 Granada Hills CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,200 | |||
Buildings and Improvements | 18,257 | |||
Costs Capitalized Subsequent to Acquisition | 2,200 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,200 | |||
Buildings and Improvements | 17,637 | |||
Total | 19,837 | |||
Accumulated Depreciation | $ (5,034) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
227 Lodi CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 732 | |||
Buildings and Improvements | 5,453 | |||
Costs Capitalized Subsequent to Acquisition | 278 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 732 | |||
Buildings and Improvements | 5,453 | |||
Total | 6,185 | |||
Accumulated Depreciation | $ (2,852) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
226 Murietta CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 435 | |||
Buildings and Improvements | 5,729 | |||
Costs Capitalized Subsequent to Acquisition | 230 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 435 | |||
Buildings and Improvements | 5,729 | |||
Total | 6,164 | |||
Accumulated Depreciation | $ (2,929) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1165 Northridge CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 6,718 | |||
Buildings and Improvements | 26,309 | |||
Costs Capitalized Subsequent to Acquisition | 6,752 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,752 | |||
Buildings and Improvements | 28,058 | |||
Total | 34,810 | |||
Accumulated Depreciation | $ (7,305) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1168 Palm Springs CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,005 | |||
Buildings and Improvements | 5,183 | |||
Costs Capitalized Subsequent to Acquisition | 1,005 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,005 | |||
Buildings and Improvements | 5,344 | |||
Total | 6,349 | |||
Accumulated Depreciation | $ (1,590) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
789 Pleasant Hill CA | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 6,270 | |||
Initial Cost to Company | ||||
Land | 2,480 | |||
Buildings and Improvements | 21,333 | |||
Costs Capitalized Subsequent to Acquisition | 2,480 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,480 | |||
Buildings and Improvements | 20,633 | |||
Total | 23,113 | |||
Accumulated Depreciation | $ (5,889) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2205 Roseville CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,844 | |||
Buildings and Improvements | 33,527 | |||
Costs Capitalized Subsequent to Acquisition | 3,844 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,844 | |||
Buildings and Improvements | 33,527 | |||
Total | 37,371 | |||
Accumulated Depreciation | $ (2,839) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1167 Santa Rosa CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,582 | |||
Buildings and Improvements | 21,113 | |||
Costs Capitalized Subsequent to Acquisition | 3,627 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,627 | |||
Buildings and Improvements | 22,008 | |||
Total | 25,635 | |||
Accumulated Depreciation | $ (5,853) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
793 South San Francisco CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,000 | |||
Buildings and Improvements | 16,586 | |||
Costs Capitalized Subsequent to Acquisition | 3,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,000 | |||
Buildings and Improvements | 16,056 | |||
Total | 19,056 | |||
Accumulated Depreciation | $ (4,577) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
792 Ventura CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,030 | |||
Buildings and Improvements | 17,379 | |||
Costs Capitalized Subsequent to Acquisition | 2,030 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,030 | |||
Buildings and Improvements | 16,749 | |||
Total | 18,779 | |||
Accumulated Depreciation | $ (4,781) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2055 Yreka CA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 565 | |||
Buildings and Improvements | 9,184 | |||
Costs Capitalized Subsequent to Acquisition | 565 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 565 | |||
Buildings and Improvements | 9,549 | |||
Total | 10,114 | |||
Accumulated Depreciation | $ (1,324) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
512 Denver CO | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,810 | |||
Buildings and Improvements | 36,021 | |||
Costs Capitalized Subsequent to Acquisition | 2,810 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,810 | |||
Buildings and Improvements | 37,906 | |||
Total | 40,716 | |||
Accumulated Depreciation | $ (16,469) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1000 Greenwood Village CO | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,367 | |||
Buildings and Improvements | 43,610 | |||
Costs Capitalized Subsequent to Acquisition | 3,367 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,367 | |||
Buildings and Improvements | 45,708 | |||
Total | 49,075 | |||
Accumulated Depreciation | $ (10,783) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2144 Glastonbury CT | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,658 | |||
Buildings and Improvements | 16,046 | |||
Costs Capitalized Subsequent to Acquisition | 1,658 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,658 | |||
Buildings and Improvements | 16,355 | |||
Total | 18,013 | |||
Accumulated Depreciation | $ (2,059) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
730 Torrington CT | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 166 | |||
Buildings and Improvements | 11,001 | |||
Costs Capitalized Subsequent to Acquisition | 166 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 166 | |||
Buildings and Improvements | 12,106 | |||
Total | 12,272 | |||
Accumulated Depreciation | $ (3,348) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
861 Apopka FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 920 | |||
Buildings and Improvements | 4,816 | |||
Costs Capitalized Subsequent to Acquisition | 920 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 920 | |||
Buildings and Improvements | 5,470 | |||
Total | 6,390 | |||
Accumulated Depreciation | $ (1,501) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
852 Boca Raton FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,730 | |||
Buildings and Improvements | 17,532 | |||
Costs Capitalized Subsequent to Acquisition | 4,730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,730 | |||
Buildings and Improvements | 22,390 | |||
Total | 27,120 | |||
Accumulated Depreciation | $ (6,765) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1002 Coconut Creek FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,461 | |||
Buildings and Improvements | 16,006 | |||
Costs Capitalized Subsequent to Acquisition | 2,461 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,461 | |||
Buildings and Improvements | 15,620 | |||
Total | 18,081 | |||
Accumulated Depreciation | $ (3,793) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2467 Ft Myers FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,782 | |||
Buildings and Improvements | 21,827 | |||
Costs Capitalized Subsequent to Acquisition | 2,782 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,782 | |||
Buildings and Improvements | 21,827 | |||
Total | 24,609 | |||
Accumulated Depreciation | $ (754) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1095 Gainesville FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,221 | |||
Buildings and Improvements | 12,226 | |||
Costs Capitalized Subsequent to Acquisition | 1,221 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,221 | |||
Buildings and Improvements | 12,001 | |||
Total | 13,222 | |||
Accumulated Depreciation | $ (3,075) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
490 Jacksonville FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,250 | |||
Buildings and Improvements | 25,936 | |||
Costs Capitalized Subsequent to Acquisition | 2,400 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,250 | |||
Buildings and Improvements | 32,106 | |||
Total | 35,356 | |||
Accumulated Depreciation | $ (11,767) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1096 Jacksonville FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,587 | |||
Buildings and Improvements | 15,616 | |||
Costs Capitalized Subsequent to Acquisition | 1,587 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,587 | |||
Buildings and Improvements | 15,298 | |||
Total | 16,885 | |||
Accumulated Depreciation | $ (3,920) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1017 Palm Harbor FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,462 | |||
Buildings and Improvements | 16,774 | |||
Costs Capitalized Subsequent to Acquisition | 1,462 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,462 | |||
Buildings and Improvements | 16,888 | |||
Total | 18,350 | |||
Accumulated Depreciation | $ (4,408) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
732 Port Orange FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,340 | |||
Buildings and Improvements | 9,898 | |||
Costs Capitalized Subsequent to Acquisition | 2,340 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,340 | |||
Buildings and Improvements | 10,270 | |||
Total | 12,610 | |||
Accumulated Depreciation | $ (2,885) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2194 Springtree FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,066 | |||
Buildings and Improvements | 15,874 | |||
Costs Capitalized Subsequent to Acquisition | 1,066 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,066 | |||
Buildings and Improvements | 17,058 | |||
Total | 18,124 | |||
Accumulated Depreciation | $ (2,342) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
802 St Augustine FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 830 | |||
Buildings and Improvements | 11,627 | |||
Costs Capitalized Subsequent to Acquisition | 830 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 830 | |||
Buildings and Improvements | 12,369 | |||
Total | 13,199 | |||
Accumulated Depreciation | $ (3,799) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1097 Tallahassee FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,331 | |||
Buildings and Improvements | 19,039 | |||
Costs Capitalized Subsequent to Acquisition | 1,331 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,331 | |||
Buildings and Improvements | 18,695 | |||
Total | 20,026 | |||
Accumulated Depreciation | $ (4,791) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1605 Vero Beach FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 700 | |||
Buildings and Improvements | 16,234 | |||
Costs Capitalized Subsequent to Acquisition | 700 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 700 | |||
Buildings and Improvements | 15,484 | |||
Total | 16,184 | |||
Accumulated Depreciation | $ (2,654) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1257 Vero Beach FL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,035 | |||
Buildings and Improvements | 34,993 | |||
Costs Capitalized Subsequent to Acquisition | 2,035 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,035 | |||
Buildings and Improvements | 33,634 | |||
Total | 35,669 | |||
Accumulated Depreciation | $ (8,616) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1098 Alpharetta GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 793 | |||
Buildings and Improvements | 8,761 | |||
Costs Capitalized Subsequent to Acquisition | 793 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 793 | |||
Buildings and Improvements | 9,529 | |||
Total | 10,322 | |||
Accumulated Depreciation | $ (2,351) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1099 Atlanta GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 687 | |||
Buildings and Improvements | 5,507 | |||
Costs Capitalized Subsequent to Acquisition | 687 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 687 | |||
Buildings and Improvements | 6,242 | |||
Total | 6,929 | |||
Accumulated Depreciation | $ (1,520) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2108 Buford GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 562 | |||
Buildings and Improvements | 3,604 | |||
Costs Capitalized Subsequent to Acquisition | 562 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 562 | |||
Buildings and Improvements | 4,029 | |||
Total | 4,591 | |||
Accumulated Depreciation | $ (586) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2109 Buford GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 536 | |||
Buildings and Improvements | 3,142 | |||
Costs Capitalized Subsequent to Acquisition | 536 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 536 | |||
Buildings and Improvements | 3,374 | |||
Total | 3,910 | |||
Accumulated Depreciation | $ (483) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2053 Canton GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 401 | |||
Buildings and Improvements | 17,888 | |||
Costs Capitalized Subsequent to Acquisition | 401 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 401 | |||
Buildings and Improvements | 18,263 | |||
Total | 18,664 | |||
Accumulated Depreciation | $ (1,859) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2165 Hartwell GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 368 | |||
Buildings and Improvements | 6,337 | |||
Costs Capitalized Subsequent to Acquisition | 368 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 368 | |||
Buildings and Improvements | 6,611 | |||
Total | 6,979 | |||
Accumulated Depreciation | $ (786) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2066 Lawrenceville GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 581 | |||
Buildings and Improvements | 2,669 | |||
Costs Capitalized Subsequent to Acquisition | 581 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 581 | |||
Buildings and Improvements | 2,914 | |||
Total | 3,495 | |||
Accumulated Depreciation | $ (496) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1241 Lilburn GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 907 | |||
Buildings and Improvements | 17,340 | |||
Costs Capitalized Subsequent to Acquisition | 907 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 907 | |||
Buildings and Improvements | 17,017 | |||
Total | 17,924 | |||
Accumulated Depreciation | $ (4,372) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1112 Marietta GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 894 | |||
Buildings and Improvements | 6,944 | |||
Costs Capitalized Subsequent to Acquisition | 904 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 904 | |||
Buildings and Improvements | 7,330 | |||
Total | 8,234 | |||
Accumulated Depreciation | $ (1,963) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2086 Newnan GA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,227 | |||
Buildings and Improvements | 4,202 | |||
Costs Capitalized Subsequent to Acquisition | 1,227 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,227 | |||
Buildings and Improvements | 4,486 | |||
Total | 5,713 | |||
Accumulated Depreciation | $ (706) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1005 Oak Park IL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,476 | |||
Buildings and Improvements | 35,259 | |||
Costs Capitalized Subsequent to Acquisition | 3,476 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,476 | |||
Buildings and Improvements | 36,575 | |||
Total | 40,051 | |||
Accumulated Depreciation | $ (8,604) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1162 Orland Park IL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,623 | |||
Buildings and Improvements | 23,154 | |||
Costs Capitalized Subsequent to Acquisition | 2,623 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,623 | |||
Buildings and Improvements | 23,731 | |||
Total | 26,354 | |||
Accumulated Depreciation | $ (6,039) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1237 Wilmette IL | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,100 | |||
Buildings and Improvements | 9,373 | |||
Costs Capitalized Subsequent to Acquisition | 1,100 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,100 | |||
Buildings and Improvements | 9,333 | |||
Total | 10,433 | |||
Accumulated Depreciation | $ (2,357) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1105 Louisville KY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,499 | |||
Buildings and Improvements | 26,252 | |||
Costs Capitalized Subsequent to Acquisition | 1,513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,513 | |||
Buildings and Improvements | 25,813 | |||
Total | 27,326 | |||
Accumulated Depreciation | $ (6,712) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2115 Murray KY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 288 | |||
Buildings and Improvements | 7,400 | |||
Costs Capitalized Subsequent to Acquisition | 288 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 288 | |||
Buildings and Improvements | 7,533 | |||
Total | 7,821 | |||
Accumulated Depreciation | $ (1,021) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1158 Plymouth MA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,434 | |||
Buildings and Improvements | 9,027 | |||
Costs Capitalized Subsequent to Acquisition | 2,438 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,438 | |||
Buildings and Improvements | 9,308 | |||
Total | 11,746 | |||
Accumulated Depreciation | $ (2,531) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1249 Frederick MD | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 609 | |||
Buildings and Improvements | 9,158 | |||
Costs Capitalized Subsequent to Acquisition | 609 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 609 | |||
Buildings and Improvements | 9,307 | |||
Total | 9,916 | |||
Accumulated Depreciation | $ (2,505) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
281 Westminster MD | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 768 | |||
Buildings and Improvements | 5,251 | |||
Costs Capitalized Subsequent to Acquisition | 400 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 768 | |||
Buildings and Improvements | 6,555 | |||
Total | 7,323 | |||
Accumulated Depreciation | $ (2,204) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
546 Cape Elizabeth ME | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 630 | |||
Buildings and Improvements | 3,524 | |||
Costs Capitalized Subsequent to Acquisition | 290 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 630 | |||
Buildings and Improvements | 3,617 | |||
Total | 4,247 | |||
Accumulated Depreciation | $ (1,247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
545 Saco ME | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 80 | |||
Buildings and Improvements | 2,363 | |||
Costs Capitalized Subsequent to Acquisition | (90) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 80 | |||
Buildings and Improvements | 2,518 | |||
Total | 2,598 | |||
Accumulated Depreciation | $ (864) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1258 Auburn Hills MI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,281 | |||
Buildings and Improvements | 10,692 | |||
Costs Capitalized Subsequent to Acquisition | 2,161 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,281 | |||
Buildings and Improvements | 10,692 | |||
Total | 12,973 | |||
Accumulated Depreciation | $ (2,740) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1248 Farmington Hills MI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,013 | |||
Buildings and Improvements | 12,119 | |||
Costs Capitalized Subsequent to Acquisition | 1,013 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,013 | |||
Buildings and Improvements | 12,522 | |||
Total | 13,535 | |||
Accumulated Depreciation | $ (3,324) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1259 Sterling Heights MI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,593 | |||
Buildings and Improvements | 11,500 | |||
Costs Capitalized Subsequent to Acquisition | 1,593 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,593 | |||
Buildings and Improvements | 11,181 | |||
Total | 12,774 | |||
Accumulated Depreciation | $ (2,865) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1235 Des Peres MO | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,361 | |||
Buildings and Improvements | 20,664 | |||
Costs Capitalized Subsequent to Acquisition | 4,361 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,361 | |||
Buildings and Improvements | 20,510 | |||
Total | 24,871 | |||
Accumulated Depreciation | $ (5,166) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1236 Richmond Heights MO | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,744 | |||
Buildings and Improvements | 24,232 | |||
Costs Capitalized Subsequent to Acquisition | 1,744 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,744 | |||
Buildings and Improvements | 23,838 | |||
Total | 25,582 | |||
Accumulated Depreciation | $ (6,055) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
853 St.Louis Mo | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,500 | |||
Buildings and Improvements | 20,343 | |||
Costs Capitalized Subsequent to Acquisition | 2,500 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,500 | |||
Buildings and Improvements | 19,853 | |||
Total | 22,353 | |||
Accumulated Depreciation | $ (7,004) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2074 Oxford MS | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,003 | |||
Buildings and Improvements | 14,140 | |||
Costs Capitalized Subsequent to Acquisition | 2,003 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,003 | |||
Buildings and Improvements | 14,315 | |||
Total | 16,318 | |||
Accumulated Depreciation | $ (1,663) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
878 Charlotte NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 710 | |||
Buildings and Improvements | 9,559 | |||
Costs Capitalized Subsequent to Acquisition | 710 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 710 | |||
Buildings and Improvements | 9,159 | |||
Total | 9,869 | |||
Accumulated Depreciation | $ (2,309) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2465 Charlotte NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,373 | |||
Buildings and Improvements | 10,774 | |||
Costs Capitalized Subsequent to Acquisition | 1,373 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,373 | |||
Buildings and Improvements | 10,774 | |||
Total | 12,147 | |||
Accumulated Depreciation | $ (372) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1119 Concord NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 601 | |||
Buildings and Improvements | 7,615 | |||
Costs Capitalized Subsequent to Acquisition | 612 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 612 | |||
Buildings and Improvements | 7,484 | |||
Total | 8,096 | |||
Accumulated Depreciation | $ (1,973) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2468 Franklin NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,082 | |||
Buildings and Improvements | 8,489 | |||
Costs Capitalized Subsequent to Acquisition | 1,082 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,082 | |||
Buildings and Improvements | 8,489 | |||
Total | 9,571 | |||
Accumulated Depreciation | $ (293) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2126 Mooresville NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,538 | |||
Buildings and Improvements | 37,617 | |||
Costs Capitalized Subsequent to Acquisition | 2,538 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,538 | |||
Buildings and Improvements | 38,653 | |||
Total | 41,191 | |||
Accumulated Depreciation | $ (4,162) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2466 Raeford NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,304 | |||
Buildings and Improvements | 10,230 | |||
Costs Capitalized Subsequent to Acquisition | 1,304 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,304 | |||
Buildings and Improvements | 10,230 | |||
Total | 11,534 | |||
Accumulated Depreciation | $ (354) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1254 Raleigh NC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,191 | |||
Buildings and Improvements | 11,532 | |||
Costs Capitalized Subsequent to Acquisition | 1,191 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,191 | |||
Buildings and Improvements | 11,617 | |||
Total | 12,808 | |||
Accumulated Depreciation | $ (3,069) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2127 Minot ND | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 685 | |||
Buildings and Improvements | 16,047 | |||
Costs Capitalized Subsequent to Acquisition | 685 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 685 | |||
Buildings and Improvements | 16,656 | |||
Total | 17,341 | |||
Accumulated Depreciation | $ (1,936) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2169 Lexington NE | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 474 | |||
Buildings and Improvements | 8,405 | |||
Costs Capitalized Subsequent to Acquisition | 474 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 474 | |||
Buildings and Improvements | 8,484 | |||
Total | 8,958 | |||
Accumulated Depreciation | $ (1,345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1599 Cherry Hill NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,420 | |||
Buildings and Improvements | 11,042 | |||
Costs Capitalized Subsequent to Acquisition | 2,420 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,420 | |||
Buildings and Improvements | 12,633 | |||
Total | 15,053 | |||
Accumulated Depreciation | $ (3,020) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1239 Cresskill NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,684 | |||
Buildings and Improvements | 53,927 | |||
Costs Capitalized Subsequent to Acquisition | 4,684 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,684 | |||
Buildings and Improvements | 53,320 | |||
Total | 58,004 | |||
Accumulated Depreciation | $ (13,676) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
734 Hillsborough NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,042 | |||
Buildings and Improvements | 10,042 | |||
Costs Capitalized Subsequent to Acquisition | 1,042 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,042 | |||
Buildings and Improvements | 9,819 | |||
Total | 10,861 | |||
Accumulated Depreciation | $ (2,831) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1242 Madison NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,157 | |||
Buildings and Improvements | 19,909 | |||
Costs Capitalized Subsequent to Acquisition | 3,157 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,157 | |||
Buildings and Improvements | 19,391 | |||
Total | 22,548 | |||
Accumulated Depreciation | $ (4,982) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
733 Manahawkin NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 921 | |||
Buildings and Improvements | 9,927 | |||
Costs Capitalized Subsequent to Acquisition | 921 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 921 | |||
Buildings and Improvements | 10,001 | |||
Total | 10,922 | |||
Accumulated Depreciation | $ (2,849) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1231 Saddle River NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,784 | |||
Buildings and Improvements | 15,625 | |||
Costs Capitalized Subsequent to Acquisition | 1,784 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,784 | |||
Buildings and Improvements | 15,515 | |||
Total | 17,299 | |||
Accumulated Depreciation | $ (4,085) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
245 Voorhees Township NJ | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 900 | |||
Buildings and Improvements | 7,629 | |||
Costs Capitalized Subsequent to Acquisition | 561 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 900 | |||
Buildings and Improvements | 8,003 | |||
Total | 8,903 | |||
Accumulated Depreciation | $ (3,043) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2161 Rio Rancho NM | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,154 | |||
Buildings and Improvements | 13,726 | |||
Costs Capitalized Subsequent to Acquisition | 1,154 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,154 | |||
Buildings and Improvements | 13,951 | |||
Total | 15,105 | |||
Accumulated Depreciation | $ (1,780) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2121 Roswell NM | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 618 | |||
Buildings and Improvements | 7,038 | |||
Costs Capitalized Subsequent to Acquisition | 618 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 618 | |||
Buildings and Improvements | 7,878 | |||
Total | 8,496 | |||
Accumulated Depreciation | $ (1,186) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2150 Roswell NM | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 837 | |||
Buildings and Improvements | 8,614 | |||
Costs Capitalized Subsequent to Acquisition | 837 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 837 | |||
Buildings and Improvements | 9,524 | |||
Total | 10,361 | |||
Accumulated Depreciation | $ (1,503) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
796 Las Vegas NV | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,960 | |||
Buildings and Improvements | 5,816 | |||
Costs Capitalized Subsequent to Acquisition | 1,960 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,960 | |||
Buildings and Improvements | 5,426 | |||
Total | 7,386 | |||
Accumulated Depreciation | $ (1,549) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2110 Las Vegas NV | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 667 | |||
Buildings and Improvements | 14,469 | |||
Costs Capitalized Subsequent to Acquisition | 667 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 667 | |||
Buildings and Improvements | 14,935 | |||
Total | 15,602 | |||
Accumulated Depreciation | $ (2,063) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1252 Brooklyn NY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 8,117 | |||
Buildings and Improvements | 23,627 | |||
Costs Capitalized Subsequent to Acquisition | 8,117 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,117 | |||
Buildings and Improvements | 23,467 | |||
Total | 31,584 | |||
Accumulated Depreciation | $ (6,136) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1256 Brooklyn NY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 5,215 | |||
Buildings and Improvements | 39,052 | |||
Costs Capitalized Subsequent to Acquisition | 5,215 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,215 | |||
Buildings and Improvements | 38,966 | |||
Total | 44,181 | |||
Accumulated Depreciation | $ (10,067) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2177 Clifton Park NY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,257 | |||
Buildings and Improvements | 11,470 | |||
Costs Capitalized Subsequent to Acquisition | 2,257 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,257 | |||
Buildings and Improvements | 11,470 | |||
Total | 13,727 | |||
Accumulated Depreciation | $ (1,535) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2174 Orchard Park NY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 726 | |||
Buildings and Improvements | 17,735 | |||
Costs Capitalized Subsequent to Acquisition | 726 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 726 | |||
Buildings and Improvements | 17,735 | |||
Total | 18,461 | |||
Accumulated Depreciation | $ (2,385) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2175 Orchard Park NY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 478 | |||
Buildings and Improvements | 11,961 | |||
Costs Capitalized Subsequent to Acquisition | 478 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 478 | |||
Buildings and Improvements | 11,961 | |||
Total | 12,439 | |||
Accumulated Depreciation | $ (1,603) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1386 Marietta OH | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,069 | |||
Buildings and Improvements | 11,435 | |||
Costs Capitalized Subsequent to Acquisition | 1,069 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,069 | |||
Buildings and Improvements | 11,438 | |||
Total | 12,507 | |||
Accumulated Depreciation | $ (3,998) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1253 Youngstown OH | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 695 | |||
Buildings and Improvements | 10,444 | |||
Costs Capitalized Subsequent to Acquisition | 695 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 695 | |||
Buildings and Improvements | 10,518 | |||
Total | 11,213 | |||
Accumulated Depreciation | $ (2,727) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2083 Oklahoma City OK | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,116 | |||
Buildings and Improvements | 28,007 | |||
Costs Capitalized Subsequent to Acquisition | 2,116 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,116 | |||
Buildings and Improvements | 29,756 | |||
Total | 31,872 | |||
Accumulated Depreciation | $ (3,511) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2139 Gresham OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 465 | |||
Buildings and Improvements | 6,403 | |||
Costs Capitalized Subsequent to Acquisition | 465 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 465 | |||
Buildings and Improvements | 6,605 | |||
Total | 7,070 | |||
Accumulated Depreciation | $ (874) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2182 Hermiston Terrace OR | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,496 | |||
Initial Cost to Company | ||||
Land | 582 | |||
Buildings and Improvements | 8,087 | |||
Costs Capitalized Subsequent to Acquisition | 582 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 582 | |||
Buildings and Improvements | 8,087 | |||
Total | 8,669 | |||
Accumulated Depreciation | $ (919) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2131 Keizer OR | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,593 | |||
Initial Cost to Company | ||||
Land | 551 | |||
Buildings and Improvements | 6,454 | |||
Costs Capitalized Subsequent to Acquisition | 551 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 551 | |||
Buildings and Improvements | 6,454 | |||
Total | 7,005 | |||
Accumulated Depreciation | $ (741) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2152 McMinnville OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,203 | |||
Buildings and Improvements | 24,909 | |||
Costs Capitalized Subsequent to Acquisition | 3,203 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,203 | |||
Buildings and Improvements | 28,606 | |||
Total | 31,809 | |||
Accumulated Depreciation | $ (4,833) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2089 Newberg OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,889 | |||
Buildings and Improvements | 16,855 | |||
Costs Capitalized Subsequent to Acquisition | 1,889 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,889 | |||
Buildings and Improvements | 17,162 | |||
Total | 19,051 | |||
Accumulated Depreciation | $ (1,898) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2133 Portland OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,615 | |||
Buildings and Improvements | 12,030 | |||
Costs Capitalized Subsequent to Acquisition | 1,615 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,615 | |||
Buildings and Improvements | 12,096 | |||
Total | 13,711 | |||
Accumulated Depreciation | $ (1,271) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2151 Portland OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,677 | |||
Buildings and Improvements | 9,469 | |||
Costs Capitalized Subsequent to Acquisition | 1,677 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,677 | |||
Buildings and Improvements | 9,783 | |||
Total | 11,460 | |||
Accumulated Depreciation | $ (1,449) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2171 Portland OR | Senior housing | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 16,087 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 16,338 | |||
Total | 16,338 | |||
Accumulated Depreciation | $ (1,636) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2050 Redmond OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,229 | |||
Buildings and Improvements | 21,921 | |||
Costs Capitalized Subsequent to Acquisition | 1,229 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,229 | |||
Buildings and Improvements | 22,590 | |||
Total | 23,819 | |||
Accumulated Depreciation | $ (2,294) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2084 Roseburg OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,042 | |||
Buildings and Improvements | 12,090 | |||
Costs Capitalized Subsequent to Acquisition | 1,042 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,042 | |||
Buildings and Improvements | 12,199 | |||
Total | 13,241 | |||
Accumulated Depreciation | $ (1,534) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2134 Scappoose OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 353 | |||
Buildings and Improvements | 1,258 | |||
Costs Capitalized Subsequent to Acquisition | 353 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 353 | |||
Buildings and Improvements | 1,271 | |||
Total | 1,624 | |||
Accumulated Depreciation | $ (212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2153 Scappoose OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 971 | |||
Buildings and Improvements | 7,116 | |||
Costs Capitalized Subsequent to Acquisition | 971 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 971 | |||
Buildings and Improvements | 7,224 | |||
Total | 8,195 | |||
Accumulated Depreciation | $ (1,045) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2056 Stayton OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 48 | |||
Buildings and Improvements | 569 | |||
Costs Capitalized Subsequent to Acquisition | 48 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 48 | |||
Buildings and Improvements | 587 | |||
Total | 635 | |||
Accumulated Depreciation | $ (127) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2058 Stayton OR | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 253 | |||
Buildings and Improvements | 8,621 | |||
Costs Capitalized Subsequent to Acquisition | 253 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 253 | |||
Buildings and Improvements | 8,724 | |||
Total | 8,977 | |||
Accumulated Depreciation | $ (1,091) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2088 Tualatin OR | Senior housing | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,326 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 6,625 | |||
Total | 6,625 | |||
Accumulated Depreciation | $ (1,073) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2180 Windfield Village OR | Senior housing | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 2,975 | |||
Initial Cost to Company | ||||
Land | 580 | |||
Buildings and Improvements | 9,817 | |||
Costs Capitalized Subsequent to Acquisition | 580 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 580 | |||
Buildings and Improvements | 9,817 | |||
Total | 10,397 | |||
Accumulated Depreciation | $ (1,124) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1163 Haverford PA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 16,461 | |||
Buildings and Improvements | 108,816 | |||
Costs Capitalized Subsequent to Acquisition | 16,461 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 16,461 | |||
Buildings and Improvements | 115,370 | |||
Total | 131,831 | |||
Accumulated Depreciation | $ (30,593) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2063 Selinsgrove PA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 529 | |||
Buildings and Improvements | 9,111 | |||
Costs Capitalized Subsequent to Acquisition | 529 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 529 | |||
Buildings and Improvements | 9,264 | |||
Total | 9,793 | |||
Accumulated Depreciation | $ (1,289) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1967 Cumberland RI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,630 | |||
Buildings and Improvements | 19,050 | |||
Costs Capitalized Subsequent to Acquisition | 2,630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,630 | |||
Buildings and Improvements | 19,473 | |||
Total | 22,103 | |||
Accumulated Depreciation | $ (4,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1972 Smithfield RI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,250 | |||
Buildings and Improvements | 17,816 | |||
Costs Capitalized Subsequent to Acquisition | 1,250 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,250 | |||
Buildings and Improvements | 18,134 | |||
Total | 19,384 | |||
Accumulated Depreciation | $ (4,047) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1973 South Kingstown RI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,390 | |||
Buildings and Improvements | 12,551 | |||
Costs Capitalized Subsequent to Acquisition | 1,390 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,390 | |||
Buildings and Improvements | 12,918 | |||
Total | 14,308 | |||
Accumulated Depreciation | $ (2,713) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1975 Tiverton RI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,240 | |||
Buildings and Improvements | 25,735 | |||
Costs Capitalized Subsequent to Acquisition | 3,240 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,240 | |||
Buildings and Improvements | 25,955 | |||
Total | 29,195 | |||
Accumulated Depreciation | $ (5,347) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1104 Aiken SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 357 | |||
Buildings and Improvements | 14,832 | |||
Costs Capitalized Subsequent to Acquisition | 363 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 363 | |||
Buildings and Improvements | 14,395 | |||
Total | 14,758 | |||
Accumulated Depreciation | $ (3,716) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1100 Charleston SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 885 | |||
Buildings and Improvements | 14,124 | |||
Costs Capitalized Subsequent to Acquisition | 896 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 896 | |||
Buildings and Improvements | 14,031 | |||
Total | 14,927 | |||
Accumulated Depreciation | $ (3,710) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1109 Columbia SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 408 | |||
Buildings and Improvements | 7,527 | |||
Costs Capitalized Subsequent to Acquisition | 412 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 412 | |||
Buildings and Improvements | 7,414 | |||
Total | 7,826 | |||
Accumulated Depreciation | $ (1,930) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2154 Florence SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 255 | |||
Buildings and Improvements | 4,052 | |||
Costs Capitalized Subsequent to Acquisition | 255 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 255 | |||
Buildings and Improvements | 4,757 | |||
Total | 5,012 | |||
Accumulated Depreciation | $ (760) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
306 Georgetown SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 239 | |||
Buildings and Improvements | 3,008 | |||
Costs Capitalized Subsequent to Acquisition | 111 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 239 | |||
Buildings and Improvements | 3,008 | |||
Total | 3,247 | |||
Accumulated Depreciation | $ (1,169) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
879 Greenville SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,090 | |||
Buildings and Improvements | 12,558 | |||
Costs Capitalized Subsequent to Acquisition | 1,090 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,090 | |||
Buildings and Improvements | 12,058 | |||
Total | 13,148 | |||
Accumulated Depreciation | $ (3,039) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
305 Lancaster SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 84 | |||
Buildings and Improvements | 2,982 | |||
Costs Capitalized Subsequent to Acquisition | (54) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 84 | |||
Buildings and Improvements | 2,982 | |||
Total | 3,066 | |||
Accumulated Depreciation | $ (1,076) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
880 Myrtle Beach SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 900 | |||
Buildings and Improvements | 10,913 | |||
Costs Capitalized Subsequent to Acquisition | 900 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 900 | |||
Buildings and Improvements | 10,513 | |||
Total | 11,413 | |||
Accumulated Depreciation | $ (2,650) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
312 Rock Hill SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 203 | |||
Buildings and Improvements | 2,671 | |||
Costs Capitalized Subsequent to Acquisition | (34) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 203 | |||
Buildings and Improvements | 2,671 | |||
Total | 2,874 | |||
Accumulated Depreciation | $ (1,018) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1113 Rock Hill SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 695 | |||
Buildings and Improvements | 4,119 | |||
Costs Capitalized Subsequent to Acquisition | 795 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 795 | |||
Buildings and Improvements | 4,074 | |||
Total | 4,869 | |||
Accumulated Depreciation | $ (1,186) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
313 Sumter SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 196 | |||
Buildings and Improvements | 2,623 | |||
Costs Capitalized Subsequent to Acquisition | (47) | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 196 | |||
Buildings and Improvements | 2,623 | |||
Total | 2,819 | |||
Accumulated Depreciation | $ (1,020) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2067 West Columbia SC | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 220 | |||
Buildings and Improvements | 2,662 | |||
Costs Capitalized Subsequent to Acquisition | 220 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 220 | |||
Buildings and Improvements | 3,345 | |||
Total | 3,565 | |||
Accumulated Depreciation | $ (575) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2132 Cordova TN | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,167 | |||
Buildings and Improvements | 5,829 | |||
Costs Capitalized Subsequent to Acquisition | 2,167 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,167 | |||
Buildings and Improvements | 6,309 | |||
Total | 8,476 | |||
Accumulated Depreciation | $ (927) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2060 Franklin TN | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,475 | |||
Buildings and Improvements | 27,337 | |||
Costs Capitalized Subsequent to Acquisition | 2,475 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,475 | |||
Buildings and Improvements | 28,456 | |||
Total | 30,931 | |||
Accumulated Depreciation | $ (3,200) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2073 Kingsport TN | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,113 | |||
Buildings and Improvements | 8,625 | |||
Costs Capitalized Subsequent to Acquisition | 1,113 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,113 | |||
Buildings and Improvements | 8,873 | |||
Total | 9,986 | |||
Accumulated Depreciation | $ (1,114) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1003 Nashville TN | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 812 | |||
Buildings and Improvements | 16,983 | |||
Costs Capitalized Subsequent to Acquisition | 812 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 812 | |||
Buildings and Improvements | 18,759 | |||
Total | 19,571 | |||
Accumulated Depreciation | $ (4,201) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
843 Abilene TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 300 | |||
Buildings and Improvements | 2,830 | |||
Costs Capitalized Subsequent to Acquisition | 300 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 300 | |||
Buildings and Improvements | 2,710 | |||
Total | 3,010 | |||
Accumulated Depreciation | $ (717) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2107 Amarillo TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,315 | |||
Buildings and Improvements | 26,838 | |||
Costs Capitalized Subsequent to Acquisition | 1,315 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,315 | |||
Buildings and Improvements | 27,256 | |||
Total | 28,571 | |||
Accumulated Depreciation | $ (3,006) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1116 Arlington TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,494 | |||
Buildings and Improvements | 12,192 | |||
Costs Capitalized Subsequent to Acquisition | 2,540 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,540 | |||
Buildings and Improvements | 11,847 | |||
Total | 14,387 | |||
Accumulated Depreciation | $ (3,151) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
511 Austin TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,960 | |||
Buildings and Improvements | 41,645 | |||
Costs Capitalized Subsequent to Acquisition | 2,960 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,960 | |||
Buildings and Improvements | 41,645 | |||
Total | 44,605 | |||
Accumulated Depreciation | $ (18,393) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2075 Bedford TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,204 | |||
Buildings and Improvements | 26,845 | |||
Costs Capitalized Subsequent to Acquisition | 1,204 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,204 | |||
Buildings and Improvements | 28,184 | |||
Total | 29,388 | |||
Accumulated Depreciation | $ (3,187) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
844 Burleson TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,050 | |||
Buildings and Improvements | 5,242 | |||
Costs Capitalized Subsequent to Acquisition | 1,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 4,902 | |||
Total | 5,952 | |||
Accumulated Depreciation | $ (1,297) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
848 Cedar Hill TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,070 | |||
Buildings and Improvements | 11,554 | |||
Costs Capitalized Subsequent to Acquisition | 1,070 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,070 | |||
Buildings and Improvements | 11,104 | |||
Total | 12,174 | |||
Accumulated Depreciation | $ (2,938) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1325 Cedar Hill TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 440 | |||
Buildings and Improvements | 7,494 | |||
Costs Capitalized Subsequent to Acquisition | 440 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 440 | |||
Buildings and Improvements | 6,974 | |||
Total | 7,414 | |||
Accumulated Depreciation | $ (1,700) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
506 Friendswood TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 400 | |||
Buildings and Improvements | 7,354 | |||
Costs Capitalized Subsequent to Acquisition | 79 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 400 | |||
Buildings and Improvements | 7,493 | |||
Total | 7,893 | |||
Accumulated Depreciation | $ (2,392) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
217 Houston TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 835 | |||
Buildings and Improvements | 7,195 | |||
Costs Capitalized Subsequent to Acquisition | 835 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 835 | |||
Buildings and Improvements | 7,344 | |||
Total | 8,179 | |||
Accumulated Depreciation | $ (3,083) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1106 Houston TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,008 | |||
Buildings and Improvements | 15,333 | |||
Costs Capitalized Subsequent to Acquisition | 1,020 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,020 | |||
Buildings and Improvements | 15,052 | |||
Total | 16,072 | |||
Accumulated Depreciation | $ (3,923) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
845 North Richland Hills TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 520 | |||
Buildings and Improvements | 5,117 | |||
Costs Capitalized Subsequent to Acquisition | 520 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 520 | |||
Buildings and Improvements | 4,807 | |||
Total | 5,327 | |||
Accumulated Depreciation | $ (1,272) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
846 North Richland Hills TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 870 | |||
Buildings and Improvements | 9,259 | |||
Costs Capitalized Subsequent to Acquisition | 870 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 870 | |||
Buildings and Improvements | 8,819 | |||
Total | 9,689 | |||
Accumulated Depreciation | $ (2,667) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2162 Portland TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,233 | |||
Buildings and Improvements | 14,001 | |||
Costs Capitalized Subsequent to Acquisition | 1,233 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,233 | |||
Buildings and Improvements | 14,768 | |||
Total | 16,001 | |||
Accumulated Depreciation | $ (1,901) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2116 Sherman TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 209 | |||
Buildings and Improvements | 3,492 | |||
Costs Capitalized Subsequent to Acquisition | 209 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 209 | |||
Buildings and Improvements | 3,616 | |||
Total | 3,825 | |||
Accumulated Depreciation | $ (506) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
847 Waxahachie TX | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 390 | |||
Buildings and Improvements | 3,879 | |||
Costs Capitalized Subsequent to Acquisition | 390 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 390 | |||
Buildings and Improvements | 3,659 | |||
Total | 4,049 | |||
Accumulated Depreciation | $ (968) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2470 Abingdon VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,584 | |||
Buildings and Improvements | 12,431 | |||
Costs Capitalized Subsequent to Acquisition | 1,584 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,584 | |||
Buildings and Improvements | 12,431 | |||
Total | 14,015 | |||
Accumulated Depreciation | $ (430) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1244 Arlington VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,833 | |||
Buildings and Improvements | 7,076 | |||
Costs Capitalized Subsequent to Acquisition | 3,833 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,833 | |||
Buildings and Improvements | 7,643 | |||
Total | 11,476 | |||
Accumulated Depreciation | $ (1,990) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1245 Arlington VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 7,278 | |||
Buildings and Improvements | 37,407 | |||
Costs Capitalized Subsequent to Acquisition | 7,278 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,278 | |||
Buildings and Improvements | 38,069 | |||
Total | 45,347 | |||
Accumulated Depreciation | $ (9,606) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
881 Chesapeake VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,090 | |||
Buildings and Improvements | 12,444 | |||
Costs Capitalized Subsequent to Acquisition | 1,090 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,090 | |||
Buildings and Improvements | 11,944 | |||
Total | 13,034 | |||
Accumulated Depreciation | $ (3,011) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1247 Falls Church VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,228 | |||
Buildings and Improvements | 8,887 | |||
Costs Capitalized Subsequent to Acquisition | 2,228 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,228 | |||
Buildings and Improvements | 9,221 | |||
Total | 11,449 | |||
Accumulated Depreciation | $ (2,416) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1164 Fort Belvoir VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 11,594 | |||
Buildings and Improvements | 99,528 | |||
Costs Capitalized Subsequent to Acquisition | 11,594 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,594 | |||
Buildings and Improvements | 107,339 | |||
Total | 118,933 | |||
Accumulated Depreciation | $ (28,542) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1250 Leesburg VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 607 | |||
Buildings and Improvements | 3,236 | |||
Costs Capitalized Subsequent to Acquisition | 607 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 607 | |||
Buildings and Improvements | 3,210 | |||
Total | 3,817 | |||
Accumulated Depreciation | $ (2,926) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1246 Sterling VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 2,360 | |||
Buildings and Improvements | 22,932 | |||
Costs Capitalized Subsequent to Acquisition | 2,360 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,360 | |||
Buildings and Improvements | 23,162 | |||
Total | 25,522 | |||
Accumulated Depreciation | $ (6,030) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2077 Sterling VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,046 | |||
Buildings and Improvements | 15,788 | |||
Costs Capitalized Subsequent to Acquisition | 1,046 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,046 | |||
Buildings and Improvements | 16,102 | |||
Total | 17,148 | |||
Accumulated Depreciation | $ (1,748) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
225 Woodbridge VA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 950 | |||
Buildings and Improvements | 6,983 | |||
Costs Capitalized Subsequent to Acquisition | 775 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 950 | |||
Buildings and Improvements | 8,441 | |||
Total | 9,391 | |||
Accumulated Depreciation | $ (3,118) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1173 Bellevue WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,734 | |||
Buildings and Improvements | 16,171 | |||
Costs Capitalized Subsequent to Acquisition | 3,737 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,737 | |||
Buildings and Improvements | 16,168 | |||
Total | 19,905 | |||
Accumulated Depreciation | $ (4,199) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2095 College Place WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 758 | |||
Buildings and Improvements | 8,051 | |||
Costs Capitalized Subsequent to Acquisition | 758 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 758 | |||
Buildings and Improvements | 8,341 | |||
Total | 9,099 | |||
Accumulated Depreciation | $ (1,096) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1240 Edmonds WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,418 | |||
Buildings and Improvements | 16,502 | |||
Costs Capitalized Subsequent to Acquisition | 1,418 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,418 | |||
Buildings and Improvements | 16,106 | |||
Total | 17,524 | |||
Accumulated Depreciation | $ (4,144) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2160 Kenmore WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,284 | |||
Buildings and Improvements | 16,641 | |||
Costs Capitalized Subsequent to Acquisition | 3,284 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,284 | |||
Buildings and Improvements | 16,949 | |||
Total | 20,233 | |||
Accumulated Depreciation | $ (1,864) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
797 Kirkland WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,000 | |||
Buildings and Improvements | 13,403 | |||
Costs Capitalized Subsequent to Acquisition | 1,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,000 | |||
Buildings and Improvements | 13,043 | |||
Total | 14,043 | |||
Accumulated Depreciation | $ (3,723) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1251 Mercer Island WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,209 | |||
Buildings and Improvements | 8,123 | |||
Costs Capitalized Subsequent to Acquisition | 4,209 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,209 | |||
Buildings and Improvements | 8,201 | |||
Total | 12,410 | |||
Accumulated Depreciation | $ (2,086) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2141 Moses Lake WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 429 | |||
Buildings and Improvements | 4,417 | |||
Costs Capitalized Subsequent to Acquisition | 429 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 429 | |||
Buildings and Improvements | 4,569 | |||
Total | 4,998 | |||
Accumulated Depreciation | $ (868) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2096 Poulsbo WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,801 | |||
Buildings and Improvements | 18,068 | |||
Costs Capitalized Subsequent to Acquisition | 1,801 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,801 | |||
Buildings and Improvements | 18,236 | |||
Total | 20,037 | |||
Accumulated Depreciation | $ (2,186) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2102 Richland WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 249 | |||
Buildings and Improvements | 5,067 | |||
Costs Capitalized Subsequent to Acquisition | 249 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 249 | |||
Buildings and Improvements | 5,186 | |||
Total | 5,435 | |||
Accumulated Depreciation | $ (603) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
794 Shoreline WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,590 | |||
Buildings and Improvements | 10,671 | |||
Costs Capitalized Subsequent to Acquisition | 1,590 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,590 | |||
Buildings and Improvements | 10,261 | |||
Total | 11,851 | |||
Accumulated Depreciation | $ (2,929) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
795 Shoreline WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 4,030 | |||
Buildings and Improvements | 26,421 | |||
Costs Capitalized Subsequent to Acquisition | 4,030 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,030 | |||
Buildings and Improvements | 25,651 | |||
Total | 29,681 | |||
Accumulated Depreciation | $ (7,254) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2097 Spokane WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 903 | |||
Buildings and Improvements | 5,363 | |||
Costs Capitalized Subsequent to Acquisition | 903 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 903 | |||
Buildings and Improvements | 5,509 | |||
Total | 6,412 | |||
Accumulated Depreciation | $ (849) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2061 Vancouver WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 513 | |||
Buildings and Improvements | 4,556 | |||
Costs Capitalized Subsequent to Acquisition | 513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 513 | |||
Buildings and Improvements | 4,710 | |||
Total | 5,223 | |||
Accumulated Depreciation | $ (696) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2062 Vancouver WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 1,498 | |||
Buildings and Improvements | 9,997 | |||
Costs Capitalized Subsequent to Acquisition | 1,498 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,498 | |||
Buildings and Improvements | 10,127 | |||
Total | 11,625 | |||
Accumulated Depreciation | $ (1,173) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2052 Yakima WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 557 | |||
Buildings and Improvements | 5,897 | |||
Costs Capitalized Subsequent to Acquisition | 557 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 557 | |||
Buildings and Improvements | 6,035 | |||
Total | 6,592 | |||
Accumulated Depreciation | $ (732) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2078 Yakima WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 353 | |||
Buildings and Improvements | 5,668 | |||
Costs Capitalized Subsequent to Acquisition | 353 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 353 | |||
Buildings and Improvements | 5,685 | |||
Total | 6,038 | |||
Accumulated Depreciation | $ (628) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2114 Yakima WA | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 721 | |||
Buildings and Improvements | 8,872 | |||
Costs Capitalized Subsequent to Acquisition | 721 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 721 | |||
Buildings and Improvements | 10,218 | |||
Total | 10,939 | |||
Accumulated Depreciation | $ (1,498) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2170 Madison WI | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 834 | |||
Buildings and Improvements | 10,050 | |||
Costs Capitalized Subsequent to Acquisition | 834 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 834 | |||
Buildings and Improvements | 10,408 | |||
Total | 11,242 | |||
Accumulated Depreciation | $ (1,356) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2117 Bridgeport WV | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 3,174 | |||
Buildings and Improvements | 15,437 | |||
Costs Capitalized Subsequent to Acquisition | 3,174 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,174 | |||
Buildings and Improvements | 15,815 | |||
Total | 18,989 | |||
Accumulated Depreciation | $ (2,397) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2148 Sheridan WY | Senior housing | ||||
Initial Cost to Company | ||||
Land | $ 915 | |||
Buildings and Improvements | 12,047 | |||
Costs Capitalized Subsequent to Acquisition | 915 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 915 | |||
Buildings and Improvements | 13,147 | |||
Total | 14,062 | |||
Accumulated Depreciation | $ (1,599) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
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 | 2,046 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,046 | |||
Buildings and Improvements | 15,630 | |||
Total | 17,676 | |||
Accumulated Depreciation | $ (4,097) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 1,276 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,276 | |||
Buildings and Improvements | 10,870 | |||
Total | 12,146 | |||
Accumulated Depreciation | $ (1,730) | |||
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 | $ 25,940 | |||
Initial Cost to Company | ||||
Land | 2,640 | |||
Buildings and Improvements | 33,223 | |||
Costs Capitalized Subsequent to Acquisition | 2,640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,640 | |||
Buildings and Improvements | 35,006 | |||
Total | 37,646 | |||
Accumulated Depreciation | $ (7,517) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 5,822 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,822 | |||
Buildings and Improvements | 19,655 | |||
Total | 25,477 | |||
Accumulated Depreciation | $ (5,271) | |||
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 | 7,897 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,897 | |||
Buildings and Improvements | 15,452 | |||
Total | 23,349 | |||
Accumulated Depreciation | $ (3,890) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 2,637 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,637 | |||
Buildings and Improvements | 10,522 | |||
Total | 13,159 | |||
Accumulated Depreciation | $ (1,408) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 2,235 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,235 | |||
Buildings and Improvements | 7,398 | |||
Total | 9,633 | |||
Accumulated Depreciation | $ (1,873) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1965 Fresno CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 17,994 | |||
Initial Cost to Company | ||||
Land | 1,730 | |||
Buildings and Improvements | 31,918 | |||
Costs Capitalized Subsequent to Acquisition | 1,730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,730 | |||
Buildings and Improvements | 33,445 | |||
Total | 35,175 | |||
Accumulated Depreciation | $ (7,009) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2593 Irvine CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,220 | |||
Buildings and Improvements | 14,104 | |||
Costs Capitalized Subsequent to Acquisition | 8,220 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,220 | |||
Buildings and Improvements | 13,685 | |||
Total | 21,905 | |||
Accumulated Depreciation | $ (3,141) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 1,811 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,811 | |||
Buildings and Improvements | 25,460 | |||
Total | 27,271 | |||
Accumulated Depreciation | $ (6,281) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2380 Roseville CA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 692 | |||
Buildings and Improvements | 21,662 | |||
Costs Capitalized Subsequent to Acquisition | 692 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 692 | |||
Buildings and Improvements | 22,374 | |||
Total | 23,066 | |||
Accumulated Depreciation | $ (2,380) | |||
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 | 6,384 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,384 | |||
Buildings and Improvements | 32,886 | |||
Total | 39,270 | |||
Accumulated Depreciation | $ (8,306) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 5,983 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,983 | |||
Buildings and Improvements | 11,357 | |||
Total | 17,340 | |||
Accumulated Depreciation | $ (2,827) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1966 Sun City CA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 13,623 | |||
Initial Cost to Company | ||||
Land | 2,650 | |||
Buildings and Improvements | 22,709 | |||
Costs Capitalized Subsequent to Acquisition | 2,650 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,650 | |||
Buildings and Improvements | 26,011 | |||
Total | 28,661 | |||
Accumulated Depreciation | $ (5,960) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2505 Arvada CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,788 | |||
Buildings and Improvements | 29,896 | |||
Costs Capitalized Subsequent to Acquisition | 1,788 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,788 | |||
Buildings and Improvements | 30,553 | |||
Total | 32,341 | |||
Accumulated Depreciation | $ (1,575) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2506 Boulder CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,424 | |||
Buildings and Improvements | 36,746 | |||
Costs Capitalized Subsequent to Acquisition | 2,424 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,424 | |||
Buildings and Improvements | 37,056 | |||
Total | 39,480 | |||
Accumulated Depreciation | $ (1,471) | |||
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 | 1,910 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,910 | |||
Buildings and Improvements | 25,601 | |||
Total | 27,511 | |||
Accumulated Depreciation | $ (6,526) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2515 Denver CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,311 | |||
Buildings and Improvements | 18,645 | |||
Costs Capitalized Subsequent to Acquisition | 2,311 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,311 | |||
Buildings and Improvements | 20,118 | |||
Total | 22,429 | |||
Accumulated Depreciation | $ (1,443) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2507 Englewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,857 | |||
Buildings and Improvements | 102,524 | |||
Costs Capitalized Subsequent to Acquisition | 6,857 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,857 | |||
Buildings and Improvements | 106,438 | |||
Total | 113,295 | |||
Accumulated Depreciation | $ (4,376) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2508 Lakewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,384 | |||
Buildings and Improvements | 60,795 | |||
Costs Capitalized Subsequent to Acquisition | 4,384 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,384 | |||
Buildings and Improvements | 62,227 | |||
Total | 66,611 | |||
Accumulated Depreciation | $ (2,872) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2509 Lakewood CO | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,296 | |||
Buildings and Improvements | 37,236 | |||
Costs Capitalized Subsequent to Acquisition | 2,296 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,296 | |||
Buildings and Improvements | 38,337 | |||
Total | 40,633 | |||
Accumulated Depreciation | $ (1,464) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 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 | 2,363 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,363 | |||
Buildings and Improvements | 11,259 | |||
Total | 13,622 | |||
Accumulated Depreciation | $ (2,828) | |||
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 | $ 2,537 | |||
Buildings and Improvements | 19,186 | |||
Costs Capitalized Subsequent to Acquisition | 2,537 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,537 | |||
Buildings and Improvements | 18,806 | |||
Total | 21,343 | |||
Accumulated Depreciation | $ (3,104) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2521 Altamonte Springs FL | Senior housing | Operating segment | ||||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | $ 2,036 | |||
Total | 2,036 | |||
Accumulated Depreciation | $ (71) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2603 Boca Raton FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,415 | |||
Buildings and Improvements | 17,923 | |||
Costs Capitalized Subsequent to Acquisition | 2,415 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,415 | |||
Buildings and Improvements | 17,561 | |||
Total | 19,976 | |||
Accumulated Depreciation | $ (4,264) | |||
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 | $ 26,735 | |||
Initial Cost to Company | ||||
Land | 2,550 | |||
Buildings and Improvements | 31,521 | |||
Costs Capitalized Subsequent to Acquisition | 2,550 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,550 | |||
Buildings and Improvements | 34,419 | |||
Total | 36,969 | |||
Accumulated Depreciation | $ (7,488) | |||
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 | $ 3,743 | |||
Initial Cost to Company | ||||
Land | 570 | |||
Buildings and Improvements | 5,649 | |||
Costs Capitalized Subsequent to Acquisition | 570 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 570 | |||
Buildings and Improvements | 7,543 | |||
Total | 8,113 | |||
Accumulated Depreciation | $ (2,131) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2602 Boynton Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,270 | |||
Buildings and Improvements | 4,773 | |||
Costs Capitalized Subsequent to Acquisition | 1,270 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,270 | |||
Buildings and Improvements | 4,855 | |||
Total | 6,125 | |||
Accumulated Depreciation | $ (1,652) | |||
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 | 2,250 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,250 | |||
Buildings and Improvements | 2,835 | |||
Total | 5,085 | |||
Accumulated Depreciation | $ (950) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2601 Delray Beach FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 850 | |||
Buildings and Improvements | 6,637 | |||
Costs Capitalized Subsequent to Acquisition | 850 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 850 | |||
Buildings and Improvements | 6,688 | |||
Total | 7,538 | |||
Accumulated Depreciation | $ (2,065) | |||
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 | $ 2,867 | |||
Buildings and Improvements | 43,126 | |||
Costs Capitalized Subsequent to Acquisition | 2,867 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,867 | |||
Buildings and Improvements | 45,056 | |||
Total | 47,923 | |||
Accumulated Depreciation | $ (2,647) | |||
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 | 1,020 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,020 | |||
Buildings and Improvements | 13,879 | |||
Total | 14,899 | |||
Accumulated Depreciation | $ (3,510) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2518 Lake Worth FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,669 | |||
Buildings and Improvements | 13,267 | |||
Costs Capitalized Subsequent to Acquisition | 1,669 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,669 | |||
Buildings and Improvements | 14,224 | |||
Total | 15,893 | |||
Accumulated Depreciation | $ (1,102) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2592 Lantana FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,520 | |||
Buildings and Improvements | 26,452 | |||
Costs Capitalized Subsequent to Acquisition | 3,520 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,520 | |||
Buildings and Improvements | 25,802 | |||
Total | 29,322 | |||
Accumulated Depreciation | $ (8,910) | |||
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 | $ 46,893 | |||
Initial Cost to Company | ||||
Land | 2,920 | |||
Buildings and Improvements | 64,988 | |||
Costs Capitalized Subsequent to Acquisition | 2,920 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,920 | |||
Buildings and Improvements | 74,115 | |||
Total | 77,035 | |||
Accumulated Depreciation | $ (16,631) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2522 Lutz FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 902 | |||
Buildings and Improvements | 15,169 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 902 | |||
Buildings and Improvements | 16,066 | |||
Total | 16,968 | |||
Accumulated Depreciation | $ (689) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2523 Orange City FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 912 | |||
Buildings and Improvements | 9,724 | |||
Costs Capitalized Subsequent to Acquisition | 912 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 912 | |||
Buildings and Improvements | 10,398 | |||
Total | 11,310 | |||
Accumulated Depreciation | $ (615) | |||
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 | $ 25,822 | |||
Initial Cost to Company | ||||
Land | 4,820 | |||
Buildings and Improvements | 24,937 | |||
Costs Capitalized Subsequent to Acquisition | 4,820 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,820 | |||
Buildings and Improvements | 42,405 | |||
Total | 47,225 | |||
Accumulated Depreciation | $ (8,592) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2524 Port St Lucie FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 893 | |||
Buildings and Improvements | 10,333 | |||
Costs Capitalized Subsequent to Acquisition | 893 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 893 | |||
Buildings and Improvements | 11,079 | |||
Total | 11,972 | |||
Accumulated Depreciation | $ (718) | |||
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 | $ 21,620 | |||
Initial Cost to Company | ||||
Land | 3,050 | |||
Buildings and Improvements | 29,516 | |||
Costs Capitalized Subsequent to Acquisition | 3,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,050 | |||
Buildings and Improvements | 34,272 | |||
Total | 37,322 | |||
Accumulated Depreciation | $ (7,659) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2525 Sarasota FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,426 | |||
Buildings and Improvements | 16,079 | |||
Costs Capitalized Subsequent to Acquisition | 1,426 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,426 | |||
Buildings and Improvements | 16,657 | |||
Total | 18,083 | |||
Accumulated Depreciation | $ (1,081) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2526 Tamarac FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 970 | |||
Buildings and Improvements | 16,037 | |||
Costs Capitalized Subsequent to Acquisition | 970 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 970 | |||
Buildings and Improvements | 16,720 | |||
Total | 17,690 | |||
Accumulated Depreciation | $ (757) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2513 Venice FL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,140 | |||
Buildings and Improvements | 20,662 | |||
Costs Capitalized Subsequent to Acquisition | 1,140 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,140 | |||
Buildings and Improvements | 22,176 | |||
Total | 23,316 | |||
Accumulated Depreciation | $ (1,042) | |||
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 | $ 1,048 | |||
Buildings and Improvements | 17,392 | |||
Costs Capitalized Subsequent to Acquisition | 1,048 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,048 | |||
Buildings and Improvements | 18,269 | |||
Total | 19,317 | |||
Accumulated Depreciation | $ (811) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 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 | 390 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 390 | |||
Buildings and Improvements | 2,479 | |||
Total | 2,869 | |||
Accumulated Depreciation | $ (593) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 2,669 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,669 | |||
Buildings and Improvements | 6,723 | |||
Total | 9,392 | |||
Accumulated Depreciation | $ (1,882) | |||
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 | 1,987 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,987 | |||
Buildings and Improvements | 7,122 | |||
Total | 9,109 | |||
Accumulated Depreciation | $ (1,024) | |||
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 | 987 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 987 | |||
Buildings and Improvements | 5,008 | |||
Total | 5,995 | |||
Accumulated Depreciation | $ (736) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 197 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 197 | |||
Buildings and Improvements | 8,637 | |||
Total | 8,834 | |||
Accumulated Depreciation | $ (1,177) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 2,704 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,704 | |||
Buildings and Improvements | 27,326 | |||
Total | 30,030 | |||
Accumulated Depreciation | $ (6,556) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 1,803 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,220 | |||
Buildings and Improvements | 44,775 | |||
Total | 48,995 | |||
Accumulated Depreciation | (916) | |||
2594 Mount Vernon IL | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | 296 | |||
Buildings and Improvements | 15,935 | |||
Costs Capitalized Subsequent to Acquisition | 512 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 512 | |||
Buildings and Improvements | 19,347 | |||
Total | 19,859 | |||
Accumulated Depreciation | $ (4,584) | |||
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 | $ 24,749 | |||
Initial Cost to Company | ||||
Land | 3,790 | |||
Buildings and Improvements | 32,912 | |||
Costs Capitalized Subsequent to Acquisition | 3,790 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,790 | |||
Buildings and Improvements | 37,624 | |||
Total | 41,414 | |||
Accumulated Depreciation | $ (8,837) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1961 Olympia Fields IL | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 27,968 | |||
Initial Cost to Company | ||||
Land | 4,120 | |||
Buildings and Improvements | 29,400 | |||
Costs Capitalized Subsequent to Acquisition | 4,120 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,120 | |||
Buildings and Improvements | 32,403 | |||
Total | 36,523 | |||
Accumulated Depreciation | $ (6,976) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 2,725 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,725 | |||
Buildings and Improvements | 23,432 | |||
Total | 26,157 | |||
Accumulated Depreciation | $ (5,579) | |||
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 | 1,704 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,704 | |||
Buildings and Improvements | 14,565 | |||
Total | 16,269 | |||
Accumulated Depreciation | $ (3,238) | |||
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 | $ 41,043 | |||
Initial Cost to Company | ||||
Land | 4,900 | |||
Buildings and Improvements | 45,854 | |||
Costs Capitalized Subsequent to Acquisition | 4,900 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,900 | |||
Buildings and Improvements | 50,932 | |||
Total | 55,832 | |||
Accumulated Depreciation | $ (10,808) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2595 Indianapolis IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,197 | |||
Buildings and Improvements | 7,718 | |||
Costs Capitalized Subsequent to Acquisition | 1,197 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,197 | |||
Buildings and Improvements | 7,546 | |||
Total | 8,743 | |||
Accumulated Depreciation | $ (1,918) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2596 W Lafayette IN | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 813 | |||
Buildings and Improvements | 10,876 | |||
Costs Capitalized Subsequent to Acquisition | 813 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 813 | |||
Buildings and Improvements | 10,706 | |||
Total | 11,519 | |||
Accumulated Depreciation | $ (2,723) | |||
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 | 1,915 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,915 | |||
Buildings and Improvements | 7,328 | |||
Total | 9,243 | |||
Accumulated Depreciation | $ (1,628) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 4,621 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,621 | |||
Buildings and Improvements | 31,418 | |||
Total | 36,039 | |||
Accumulated Depreciation | $ (8,045) | |||
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 | 3,176 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,176 | |||
Buildings and Improvements | 8,183 | |||
Total | 11,359 | |||
Accumulated Depreciation | $ (2,067) | |||
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 | 3,930 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,930 | |||
Buildings and Improvements | 22,032 | |||
Total | 25,962 | |||
Accumulated Depreciation | $ (5,662) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 1,696 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,696 | |||
Buildings and Improvements | 19,603 | |||
Total | 21,299 | |||
Accumulated Depreciation | $ (5,036) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2583 Ellicott City MD | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 19,772 | |||
Initial Cost to Company | ||||
Land | 3,607 | |||
Buildings and Improvements | 31,720 | |||
Costs Capitalized Subsequent to Acquisition | 3,607 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,607 | |||
Buildings and Improvements | 31,724 | |||
Total | 35,331 | |||
Accumulated Depreciation | $ (247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
2584 Hanover MD | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 9,216 | |||
Initial Cost to Company | ||||
Land | 4,513 | |||
Buildings and Improvements | 25,625 | |||
Costs Capitalized Subsequent to Acquisition | 4,513 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,513 | |||
Buildings and Improvements | 25,629 | |||
Total | 30,142 | |||
Accumulated Depreciation | $ (196) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
2585 Laurel MD | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 5,985 | |||
Initial Cost to Company | ||||
Land | 3,895 | |||
Buildings and Improvements | 13,331 | |||
Costs Capitalized Subsequent to Acquisition | 3,895 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,895 | |||
Buildings and Improvements | 13,340 | |||
Total | 17,235 | |||
Accumulated Depreciation | $ (135) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
2541 Olney MD | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,580 | |||
Buildings and Improvements | 33,802 | |||
Costs Capitalized Subsequent to Acquisition | 1,580 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,580 | |||
Buildings and Improvements | 33,887 | |||
Total | 35,467 | |||
Accumulated Depreciation | $ (1,201) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2586 Parkville MD | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 21,333 | |||
Initial Cost to Company | ||||
Land | 3,854 | |||
Buildings and Improvements | 29,061 | |||
Costs Capitalized Subsequent to Acquisition | 3,854 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,854 | |||
Buildings and Improvements | 29,065 | |||
Total | 32,919 | |||
Accumulated Depreciation | $ (266) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 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 | 1,416 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,416 | |||
Buildings and Improvements | 9,510 | |||
Total | 10,926 | |||
Accumulated Depreciation | $ (2,300) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2587 Waldorf MD | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 8,644 | |||
Initial Cost to Company | ||||
Land | 392 | |||
Buildings and Improvements | 20,514 | |||
Costs Capitalized Subsequent to Acquisition | 392 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 392 | |||
Buildings and Improvements | 20,517 | |||
Total | 20,909 | |||
Accumulated Depreciation | $ (155) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
2590 Sterling Heights MI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 920 | |||
Buildings and Improvements | 7,326 | |||
Costs Capitalized Subsequent to Acquisition | 920 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 920 | |||
Buildings and Improvements | 7,390 | |||
Total | 8,310 | |||
Accumulated Depreciation | $ (3,211) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 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 | 2,051 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,051 | |||
Buildings and Improvements | 7,678 | |||
Total | 9,729 | |||
Accumulated Depreciation | $ (1,492) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 4,280 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,280 | |||
Buildings and Improvements | 32,516 | |||
Total | 36,796 | |||
Accumulated Depreciation | $ (8,284) | |||
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 | 2,223 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,223 | |||
Buildings and Improvements | 8,160 | |||
Total | 10,383 | |||
Accumulated Depreciation | $ (1,084) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2589 Albuquerque NM | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 767 | |||
Buildings and Improvements | 9,324 | |||
Costs Capitalized Subsequent to Acquisition | 767 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 767 | |||
Buildings and Improvements | 9,005 | |||
Total | 9,772 | |||
Accumulated Depreciation | $ (3,840) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2516 Centerville OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,065 | |||
Buildings and Improvements | 10,901 | |||
Costs Capitalized Subsequent to Acquisition | 1,065 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,065 | |||
Buildings and Improvements | 12,240 | |||
Total | 13,305 | |||
Accumulated Depreciation | $ (929) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2512 Cincinnati OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,180 | |||
Buildings and Improvements | 6,157 | |||
Costs Capitalized Subsequent to Acquisition | 1,180 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,180 | |||
Buildings and Improvements | 7,244 | |||
Total | 8,424 | |||
Accumulated Depreciation | $ (822) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2591 Cincinnati OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 600 | |||
Buildings and Improvements | 4,428 | |||
Costs Capitalized Subsequent to Acquisition | 600 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 600 | |||
Buildings and Improvements | 4,458 | |||
Total | 5,058 | |||
Accumulated Depreciation | $ (1,940) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2597 Fairborn OH | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 298 | |||
Buildings and Improvements | 10,704 | |||
Costs Capitalized Subsequent to Acquisition | 298 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 298 | |||
Buildings and Improvements | 13,676 | |||
Total | 13,974 | |||
Accumulated Depreciation | $ (3,350) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 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 | 811 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 811 | |||
Buildings and Improvements | 5,147 | |||
Total | 5,958 | |||
Accumulated Depreciation | $ (1,422) | |||
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 | 1,345 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,345 | |||
Buildings and Improvements | 4,193 | |||
Total | 5,538 | |||
Accumulated Depreciation | $ (654) | |||
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 | 430 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 430 | |||
Buildings and Improvements | 3,306 | |||
Total | 3,736 | |||
Accumulated Depreciation | $ (485) | |||
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 | 1,064 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,064 | |||
Buildings and Improvements | 16,358 | |||
Total | 17,422 | |||
Accumulated Depreciation | $ (1,679) | |||
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 | 618 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 618 | |||
Buildings and Improvements | 3,179 | |||
Total | 3,797 | |||
Accumulated Depreciation | $ (688) | |||
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 | 774 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 774 | |||
Buildings and Improvements | 13,447 | |||
Total | 14,221 | |||
Accumulated Depreciation | $ (1,476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1960 Greenwich RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 7,769 | |||
Initial Cost to Company | ||||
Land | 450 | |||
Buildings and Improvements | 11,845 | |||
Costs Capitalized Subsequent to Acquisition | 450 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 450 | |||
Buildings and Improvements | 13,292 | |||
Total | 13,742 | |||
Accumulated Depreciation | $ (3,143) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2511 Johnston RI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,037 | |||
Buildings and Improvements | 12,724 | |||
Costs Capitalized Subsequent to Acquisition | 2,037 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,037 | |||
Buildings and Improvements | 16,014 | |||
Total | 18,051 | |||
Accumulated Depreciation | $ (1,360) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1962 Warwick RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 13,881 | |||
Initial Cost to Company | ||||
Land | 1,050 | |||
Buildings and Improvements | 17,389 | |||
Costs Capitalized Subsequent to Acquisition | 1,050 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 19,640 | |||
Total | 20,690 | |||
Accumulated Depreciation | $ (4,599) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 3,640 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,640 | |||
Buildings and Improvements | 64,699 | |||
Total | 68,339 | |||
Accumulated Depreciation | $ (3,287) | |||
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 | 1,298 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,298 | |||
Buildings and Improvements | 3,035 | |||
Total | 4,333 | |||
Accumulated Depreciation | $ (542) | |||
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 | 1,315 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,315 | |||
Buildings and Improvements | 10,115 | |||
Total | 11,430 | |||
Accumulated Depreciation | $ (1,099) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2608 Arlington TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,002 | |||
Buildings and Improvements | 19,110 | |||
Costs Capitalized Subsequent to Acquisition | 2,002 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,002 | |||
Buildings and Improvements | 18,729 | |||
Total | 20,731 | |||
Accumulated Depreciation | $ (4,548) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 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 | 2,973 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,973 | |||
Buildings and Improvements | 18,443 | |||
Total | 21,416 | |||
Accumulated Depreciation | $ (4,842) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2531 Austin TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 607 | |||
Buildings and Improvements | 15,972 | |||
Costs Capitalized Subsequent to Acquisition | 607 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 607 | |||
Buildings and Improvements | 16,242 | |||
Total | 16,849 | |||
Accumulated Depreciation | $ (659) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2588 Beaumont TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 145 | |||
Buildings and Improvements | 10,404 | |||
Costs Capitalized Subsequent to Acquisition | 145 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 145 | |||
Buildings and Improvements | 10,197 | |||
Total | 10,342 | |||
Accumulated Depreciation | $ (4,434) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 2,120 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,120 | |||
Buildings and Improvements | 9,338 | |||
Total | 11,458 | |||
Accumulated Depreciation | $ (1,203) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2438 Dallas TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,091 | |||
Buildings and Improvements | 11,698 | |||
Costs Capitalized Subsequent to Acquisition | 2,091 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,091 | |||
Buildings and Improvements | 12,103 | |||
Total | 14,194 | |||
Accumulated Depreciation | $ (1,205) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2528 Graham TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 754 | |||
Buildings and Improvements | 8,803 | |||
Costs Capitalized Subsequent to Acquisition | 754 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 754 | |||
Buildings and Improvements | 9,538 | |||
Total | 10,292 | |||
Accumulated Depreciation | $ (629) | |||
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 | $ 865 | |||
Buildings and Improvements | 10,650 | |||
Costs Capitalized Subsequent to Acquisition | 865 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 865 | |||
Buildings and Improvements | 11,689 | |||
Total | 12,554 | |||
Accumulated Depreciation | $ (685) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1955 Houston TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 46,618 | |||
Initial Cost to Company | ||||
Land | 9,820 | |||
Buildings and Improvements | 50,079 | |||
Costs Capitalized Subsequent to Acquisition | 9,820 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,820 | |||
Buildings and Improvements | 58,413 | |||
Total | 68,233 | |||
Accumulated Depreciation | $ (13,211) | |||
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 | $ 30,615 | |||
Initial Cost to Company | ||||
Land | 8,170 | |||
Buildings and Improvements | 37,285 | |||
Costs Capitalized Subsequent to Acquisition | 8,170 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,170 | |||
Buildings and Improvements | 41,145 | |||
Total | 49,315 | |||
Accumulated Depreciation | $ (9,238) | |||
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 | $ 28,189 | |||
Initial Cost to Company | ||||
Land | 2,910 | |||
Buildings and Improvements | 37,443 | |||
Costs Capitalized Subsequent to Acquisition | 2,910 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,910 | |||
Buildings and Improvements | 43,194 | |||
Total | 46,104 | |||
Accumulated Depreciation | $ (9,490) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 1,740 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,740 | |||
Buildings and Improvements | 32,125 | |||
Total | 33,865 | |||
Accumulated Depreciation | $ (1,772) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2606 Houston TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,470 | |||
Buildings and Improvements | 21,710 | |||
Costs Capitalized Subsequent to Acquisition | 2,470 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,470 | |||
Buildings and Improvements | 22,460 | |||
Total | 24,930 | |||
Accumulated Depreciation | $ (9,718) | |||
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 | 1,459 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,459 | |||
Buildings and Improvements | 35,583 | |||
Total | 37,042 | |||
Accumulated Depreciation | $ (4,324) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 1,143 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,143 | |||
Buildings and Improvements | 5,202 | |||
Total | 6,345 | |||
Accumulated Depreciation | $ (748) | |||
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 | $ 1,190 | |||
Buildings and Improvements | 17,756 | |||
Costs Capitalized Subsequent to Acquisition | 1,190 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,190 | |||
Buildings and Improvements | 18,693 | |||
Total | 19,883 | |||
Accumulated Depreciation | $ (950) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2379 Plano TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 590 | |||
Buildings and Improvements | 6,930 | |||
Costs Capitalized Subsequent to Acquisition | 590 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 590 | |||
Buildings and Improvements | 7,190 | |||
Total | 7,780 | |||
Accumulated Depreciation | $ (951) | |||
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 | 2,880 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,880 | |||
Buildings and Improvements | 17,980 | |||
Total | 20,860 | |||
Accumulated Depreciation | $ (4,621) | |||
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 | $ 613 | |||
Buildings and Improvements | 5,874 | |||
Costs Capitalized Subsequent to Acquisition | 613 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 613 | |||
Buildings and Improvements | 6,735 | |||
Total | 7,348 | |||
Accumulated Depreciation | $ (518) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2607 San Antonio TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 730 | |||
Buildings and Improvements | 3,961 | |||
Costs Capitalized Subsequent to Acquisition | 730 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 730 | |||
Buildings and Improvements | 3,961 | |||
Total | 4,691 | |||
Accumulated Depreciation | $ (1,298) | |||
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 | $ 30,149 | |||
Initial Cost to Company | ||||
Land | 3,420 | |||
Buildings and Improvements | 36,846 | |||
Costs Capitalized Subsequent to Acquisition | 3,420 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,420 | |||
Buildings and Improvements | 40,805 | |||
Total | 44,225 | |||
Accumulated Depreciation | $ (9,196) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 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 | 1,032 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,032 | |||
Buildings and Improvements | 7,828 | |||
Total | 8,860 | |||
Accumulated Depreciation | $ (493) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2510 Temple TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,354 | |||
Buildings and Improvements | 52,859 | |||
Costs Capitalized Subsequent to Acquisition | 2,354 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,354 | |||
Buildings and Improvements | 53,628 | |||
Total | 55,982 | |||
Accumulated Depreciation | $ (2,256) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2605 Victoria TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 175 | |||
Buildings and Improvements | 4,290 | |||
Costs Capitalized Subsequent to Acquisition | 175 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 175 | |||
Buildings and Improvements | 7,018 | |||
Total | 7,193 | |||
Accumulated Depreciation | $ (2,520) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
1953 Webster TX | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 28,807 | |||
Initial Cost to Company | ||||
Land | 4,780 | |||
Buildings and Improvements | 30,854 | |||
Costs Capitalized Subsequent to Acquisition | 4,780 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,780 | |||
Buildings and Improvements | 34,191 | |||
Total | 38,971 | |||
Accumulated Depreciation | $ (7,893) | |||
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 | $ 430 | |||
Buildings and Improvements | 2,856 | |||
Costs Capitalized Subsequent to Acquisition | 430 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 430 | |||
Buildings and Improvements | 3,602 | |||
Total | 4,032 | |||
Accumulated Depreciation | $ (351) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 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 | 2,654 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,654 | |||
Buildings and Improvements | 23,081 | |||
Total | 25,735 | |||
Accumulated Depreciation | $ (5,762) | |||
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 | 683 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 683 | |||
Buildings and Improvements | 10,330 | |||
Total | 11,013 | |||
Accumulated Depreciation | $ (1,314) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 4,320 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,320 | |||
Buildings and Improvements | 20,577 | |||
Total | 24,897 | |||
Accumulated Depreciation | $ (5,276) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2582 Fredericksburg VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,370 | |||
Buildings and Improvements | 19,725 | |||
Costs Capitalized Subsequent to Acquisition | 2,370 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,370 | |||
Buildings and Improvements | 19,735 | |||
Total | 22,105 | |||
Accumulated Depreciation | $ (138) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
2581 Leesburg VA | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 12,544 | |||
Initial Cost to Company | ||||
Land | 1,340 | |||
Buildings and Improvements | 17,605 | |||
Costs Capitalized Subsequent to Acquisition | 1,340 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,340 | |||
Buildings and Improvements | 17,616 | |||
Total | 18,956 | |||
Accumulated Depreciation | $ (129) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 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 | 2,110 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,110 | |||
Buildings and Improvements | 13,883 | |||
Total | 15,993 | |||
Accumulated Depreciation | $ (3,193) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2514 Richmond VA | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,981 | |||
Buildings and Improvements | 54,203 | |||
Costs Capitalized Subsequent to Acquisition | 2,981 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,981 | |||
Buildings and Improvements | 55,375 | |||
Total | 58,356 | |||
Accumulated Depreciation | $ (2,091) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2382 Appleton WI | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 182 | |||
Buildings and Improvements | 12,581 | |||
Costs Capitalized Subsequent to Acquisition | 182 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 182 | |||
Buildings and Improvements | 12,841 | |||
Total | 13,023 | |||
Accumulated Depreciation | $ (1,458) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 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 | 801 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 801 | |||
Buildings and Improvements | 16,900 | |||
Total | 17,701 | |||
Accumulated Depreciation | $ (1,713) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2533 San Marcos TX | Senior housing | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 765 | |||
Buildings and Improvements | 18,175 | |||
Costs Capitalized Subsequent to Acquisition | 765 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 765 | |||
Buildings and Improvements | 19,000 | |||
Total | 19,765 | |||
Accumulated Depreciation | $ (801) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2210 Adlington UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 500 | |||
Buildings and Improvements | 6,492 | |||
Costs Capitalized Subsequent to Acquisition | 594 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 594 | |||
Buildings and Improvements | 8,180 | |||
Total | 8,774 | |||
Accumulated Depreciation | $ (469) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2211 Adlington UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 519 | |||
Buildings and Improvements | 3,944 | |||
Costs Capitalized Subsequent to Acquisition | 519 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 519 | |||
Buildings and Improvements | 3,944 | |||
Total | 4,463 | |||
Accumulated Depreciation | $ (237) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2216 Alderley Edge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,143 | |||
Buildings and Improvements | 7,963 | |||
Costs Capitalized Subsequent to Acquisition | 1,143 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,143 | |||
Buildings and Improvements | 7,963 | |||
Total | 9,106 | |||
Accumulated Depreciation | $ (432) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2217 Alderley Edge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,112 | |||
Buildings and Improvements | 6,236 | |||
Costs Capitalized Subsequent to Acquisition | 1,112 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,112 | |||
Buildings and Improvements | 6,236 | |||
Total | 7,348 | |||
Accumulated Depreciation | $ (355) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2340 Altrincham UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,594 | |||
Buildings and Improvements | 17,073 | |||
Costs Capitalized Subsequent to Acquisition | 1,594 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,594 | |||
Buildings and Improvements | 17,073 | |||
Total | 18,667 | |||
Accumulated Depreciation | $ (652) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2312 Armley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 408 | |||
Buildings and Improvements | 2,439 | |||
Costs Capitalized Subsequent to Acquisition | 408 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 408 | |||
Buildings and Improvements | 2,439 | |||
Total | 2,847 | |||
Accumulated Depreciation | $ (162) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2313 Armley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 914 | |||
Buildings and Improvements | 2,844 | |||
Costs Capitalized Subsequent to Acquisition | 914 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 914 | |||
Buildings and Improvements | 2,844 | |||
Total | 3,758 | |||
Accumulated Depreciation | $ (195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2309 Ashton under Lyne UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 593 | |||
Buildings and Improvements | 4,116 | |||
Costs Capitalized Subsequent to Acquisition | 593 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 593 | |||
Buildings and Improvements | 4,116 | |||
Total | 4,709 | |||
Accumulated Depreciation | $ (274) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2206 Bangor UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 352 | |||
Buildings and Improvements | 1,885 | |||
Costs Capitalized Subsequent to Acquisition | 352 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 352 | |||
Buildings and Improvements | 1,885 | |||
Total | 2,237 | |||
Accumulated Depreciation | $ (140) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2207 Batley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 593 | |||
Buildings and Improvements | 2,925 | |||
Costs Capitalized Subsequent to Acquisition | 593 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 593 | |||
Buildings and Improvements | 2,925 | |||
Total | 3,518 | |||
Accumulated Depreciation | $ (299) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2223 Catterick Garrison UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 729 | |||
Buildings and Improvements | 1,340 | |||
Costs Capitalized Subsequent to Acquisition | 729 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 729 | |||
Buildings and Improvements | 1,340 | |||
Total | 2,069 | |||
Accumulated Depreciation | $ (194) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2226 Christleton UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 482 | |||
Buildings and Improvements | 4,661 | |||
Costs Capitalized Subsequent to Acquisition | 482 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 482 | |||
Buildings and Improvements | 4,661 | |||
Total | 5,143 | |||
Accumulated Depreciation | $ (250) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2221 Disley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 315 | |||
Buildings and Improvements | 1,480 | |||
Costs Capitalized Subsequent to Acquisition | 315 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 315 | |||
Buildings and Improvements | 1,480 | |||
Total | 1,795 | |||
Accumulated Depreciation | $ (115) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2227 Disley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 630 | |||
Buildings and Improvements | 3,620 | |||
Costs Capitalized Subsequent to Acquisition | 630 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 630 | |||
Buildings and Improvements | 3,620 | |||
Total | 4,250 | |||
Accumulated Depreciation | $ (199) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2306 Dukinfield UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 692 | |||
Buildings and Improvements | 3,702 | |||
Costs Capitalized Subsequent to Acquisition | 692 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 692 | |||
Buildings and Improvements | 3,702 | |||
Total | 4,394 | |||
Accumulated Depreciation | $ (240) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2316 Dukunfield UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 358 | |||
Buildings and Improvements | 2,275 | |||
Costs Capitalized Subsequent to Acquisition | 358 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 358 | |||
Buildings and Improvements | 2,275 | |||
Total | 2,633 | |||
Accumulated Depreciation | $ (137) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2317 Dukinfield UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 482 | |||
Buildings and Improvements | 2,567 | |||
Costs Capitalized Subsequent to Acquisition | 482 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 482 | |||
Buildings and Improvements | 2,568 | |||
Total | 3,050 | |||
Accumulated Depreciation | $ (180) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2303 Eckington UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 457 | |||
Buildings and Improvements | 1,496 | |||
Costs Capitalized Subsequent to Acquisition | 457 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 457 | |||
Buildings and Improvements | 1,496 | |||
Total | 1,953 | |||
Accumulated Depreciation | $ (124) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2208 Elstead UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 816 | |||
Buildings and Improvements | 2,795 | |||
Costs Capitalized Subsequent to Acquisition | 816 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 815 | |||
Buildings and Improvements | 2,796 | |||
Total | 3,611 | |||
Accumulated Depreciation | $ (228) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2214 Gilroyd UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 911 | |||
Buildings and Improvements | 1,544 | |||
Costs Capitalized Subsequent to Acquisition | 911 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 911 | |||
Buildings and Improvements | 1,544 | |||
Total | 2,455 | |||
Accumulated Depreciation | $ (212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2213 Ilkley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 871 | |||
Buildings and Improvements | 2,300 | |||
Costs Capitalized Subsequent to Acquisition | 871 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 871 | |||
Buildings and Improvements | 2,299 | |||
Total | 3,170 | |||
Accumulated Depreciation | $ (265) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2209 Kingswood UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 952 | |||
Buildings and Improvements | 3,547 | |||
Costs Capitalized Subsequent to Acquisition | 952 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 952 | |||
Buildings and Improvements | 3,547 | |||
Total | 4,499 | |||
Accumulated Depreciation | $ (267) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2212 Kirk Hammerton UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 400 | |||
Buildings and Improvements | 512 | |||
Costs Capitalized Subsequent to Acquisition | 400 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 400 | |||
Buildings and Improvements | 512 | |||
Total | 912 | |||
Accumulated Depreciation | $ (86) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2304 Knotty Ash UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 593 | |||
Buildings and Improvements | 2,077 | |||
Costs Capitalized Subsequent to Acquisition | 593 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 593 | |||
Buildings and Improvements | 2,077 | |||
Total | 2,670 | |||
Accumulated Depreciation | $ (157) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2310 Kirkby UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 519 | |||
Buildings and Improvements | 2,477 | |||
Costs Capitalized Subsequent to Acquisition | 519 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 519 | |||
Buildings and Improvements | 2,477 | |||
Total | 2,996 | |||
Accumulated Depreciation | $ (175) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2322 Laindon UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,088 | |||
Buildings and Improvements | 2,531 | |||
Costs Capitalized Subsequent to Acquisition | 1,088 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,088 | |||
Buildings and Improvements | 2,531 | |||
Total | 3,619 | |||
Accumulated Depreciation | $ (191) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2215 Leeds UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 460 | |||
Buildings and Improvements | 726 | |||
Costs Capitalized Subsequent to Acquisition | 460 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 460 | |||
Buildings and Improvements | 727 | |||
Total | 1,187 | |||
Accumulated Depreciation | $ (129) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2326 Limehouse UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,027 | |||
Buildings and Improvements | 2,894 | |||
Costs Capitalized Subsequent to Acquisition | 2,027 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,027 | |||
Buildings and Improvements | 2,915 | |||
Total | 4,942 | |||
Accumulated Depreciation | $ (235) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2321 Luton UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 976 | |||
Buildings and Improvements | 2,894 | |||
Costs Capitalized Subsequent to Acquisition | 976 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 976 | |||
Buildings and Improvements | 2,895 | |||
Total | 3,871 | |||
Accumulated Depreciation | $ (195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2339 Manchester UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,539 | |||
Buildings and Improvements | 13,824 | |||
Costs Capitalized Subsequent to Acquisition | 1,539 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,539 | |||
Buildings and Improvements | 13,824 | |||
Total | 15,363 | |||
Accumulated Depreciation | $ (538) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2225 Wadebridge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 272 | |||
Buildings and Improvements | 5,625 | |||
Costs Capitalized Subsequent to Acquisition | 272 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 271 | |||
Buildings and Improvements | 5,625 | |||
Total | 5,896 | |||
Accumulated Depreciation | $ (341) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2305 Prescot UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 581 | |||
Buildings and Improvements | 2,176 | |||
Costs Capitalized Subsequent to Acquisition | 581 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 581 | |||
Buildings and Improvements | 2,175 | |||
Total | 2,756 | |||
Accumulated Depreciation | $ (165) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2219 Ripon UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 173 | |||
Buildings and Improvements | 827 | |||
Costs Capitalized Subsequent to Acquisition | 173 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 173 | |||
Buildings and Improvements | 827 | |||
Total | 1,000 | |||
Accumulated Depreciation | $ (85) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2314 Stalybridge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 643 | |||
Buildings and Improvements | 3,295 | |||
Costs Capitalized Subsequent to Acquisition | 643 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 643 | |||
Buildings and Improvements | 3,295 | |||
Total | 3,938 | |||
Accumulated Depreciation | $ (221) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2218 Stapeley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 908 | |||
Buildings and Improvements | 5,928 | |||
Costs Capitalized Subsequent to Acquisition | 908 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 908 | |||
Buildings and Improvements | 5,928 | |||
Total | 6,836 | |||
Accumulated Depreciation | $ (374) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 60 years | |||
2224 Stockton-on-Tees UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 267 | |||
Buildings and Improvements | 1,905 | |||
Costs Capitalized Subsequent to Acquisition | 267 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 267 | |||
Buildings and Improvements | 1,905 | |||
Total | 2,172 | |||
Accumulated Depreciation | $ (158) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2220 Thornton-Clevele UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 834 | |||
Buildings and Improvements | 4,170 | |||
Costs Capitalized Subsequent to Acquisition | 834 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 834 | |||
Buildings and Improvements | 4,171 | |||
Total | 5,005 | |||
Accumulated Depreciation | $ (317) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2228 Upper Wortley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 415 | |||
Buildings and Improvements | 3,074 | |||
Costs Capitalized Subsequent to Acquisition | 415 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 414 | |||
Buildings and Improvements | 3,074 | |||
Total | 3,488 | |||
Accumulated Depreciation | $ (209) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2311 Wigan UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 655 | |||
Buildings and Improvements | 2,430 | |||
Costs Capitalized Subsequent to Acquisition | 655 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 654 | |||
Buildings and Improvements | 2,429 | |||
Total | 3,083 | |||
Accumulated Depreciation | $ (213) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2222 Woolmer Green UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 760 | |||
Buildings and Improvements | 5,536 | |||
Costs Capitalized Subsequent to Acquisition | 760 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 760 | |||
Buildings and Improvements | 5,536 | |||
Total | 6,296 | |||
Accumulated Depreciation | $ (380) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2335 Cardiff UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,310 | |||
Buildings and Improvements | 4,418 | |||
Costs Capitalized Subsequent to Acquisition | 1,310 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,310 | |||
Buildings and Improvements | 5,097 | |||
Total | 6,407 | |||
Accumulated Depreciation | $ (393) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2327 Croydon UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,458 | |||
Buildings and Improvements | 2,278 | |||
Costs Capitalized Subsequent to Acquisition | 1,458 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,458 | |||
Buildings and Improvements | 2,293 | |||
Total | 3,751 | |||
Accumulated Depreciation | $ (170) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2336 Birmingham UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 618 | |||
Buildings and Improvements | 2,238 | |||
Costs Capitalized Subsequent to Acquisition | 618 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 618 | |||
Buildings and Improvements | 2,787 | |||
Total | 3,405 | |||
Accumulated Depreciation | $ (263) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2320 Bishopbriggs UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 828 | |||
Buildings and Improvements | 3,805 | |||
Costs Capitalized Subsequent to Acquisition | 828 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 828 | |||
Buildings and Improvements | 3,804 | |||
Total | 4,632 | |||
Accumulated Depreciation | $ (263) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2323 Bonnyrigg UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 865 | |||
Buildings and Improvements | 5,698 | |||
Costs Capitalized Subsequent to Acquisition | 865 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 865 | |||
Buildings and Improvements | 5,697 | |||
Total | 6,562 | |||
Accumulated Depreciation | $ (374) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2318 Dumbarton UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 840 | |||
Buildings and Improvements | 3,493 | |||
Costs Capitalized Subsequent to Acquisition | 840 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 840 | |||
Buildings and Improvements | 3,494 | |||
Total | 4,334 | |||
Accumulated Depreciation | $ (249) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2333 Edinburgh UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,140 | |||
Buildings and Improvements | 22,043 | |||
Costs Capitalized Subsequent to Acquisition | 4,140 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,140 | |||
Buildings and Improvements | 22,552 | |||
Total | 26,692 | |||
Accumulated Depreciation | $ (1,371) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2328 Forfar UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 779 | |||
Buildings and Improvements | 5,662 | |||
Costs Capitalized Subsequent to Acquisition | 779 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 778 | |||
Buildings and Improvements | 6,052 | |||
Total | 6,830 | |||
Accumulated Depreciation | $ (399) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2330 Glasgow UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,693 | |||
Buildings and Improvements | 6,069 | |||
Costs Capitalized Subsequent to Acquisition | 1,693 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,693 | |||
Buildings and Improvements | 7,172 | |||
Total | 8,865 | |||
Accumulated Depreciation | $ (567) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2307 Hyde UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,273 | |||
Buildings and Improvements | 4,698 | |||
Costs Capitalized Subsequent to Acquisition | 1,273 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,273 | |||
Buildings and Improvements | 4,699 | |||
Total | 5,972 | |||
Accumulated Depreciation | $ (338) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2324 Lewisham UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,755 | |||
Buildings and Improvements | 6,497 | |||
Costs Capitalized Subsequent to Acquisition | 1,755 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,755 | |||
Buildings and Improvements | 7,048 | |||
Total | 8,803 | |||
Accumulated Depreciation | $ (501) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2332 Linlithgow UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,322 | |||
Buildings and Improvements | 6,790 | |||
Costs Capitalized Subsequent to Acquisition | 1,322 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,322 | |||
Buildings and Improvements | 7,337 | |||
Total | 8,659 | |||
Accumulated Depreciation | $ (494) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2331 Paisley UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,125 | |||
Buildings and Improvements | 3,649 | |||
Costs Capitalized Subsequent to Acquisition | 1,125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,125 | |||
Buildings and Improvements | 3,660 | |||
Total | 4,785 | |||
Accumulated Depreciation | $ (256) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2308 Prescot UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 494 | |||
Buildings and Improvements | 1,766 | |||
Costs Capitalized Subsequent to Acquisition | 494 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 494 | |||
Buildings and Improvements | 1,767 | |||
Total | 2,261 | |||
Accumulated Depreciation | $ (144) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2319 Sheffield UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 680 | |||
Buildings and Improvements | 2,470 | |||
Costs Capitalized Subsequent to Acquisition | 680 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 680 | |||
Buildings and Improvements | 2,470 | |||
Total | 3,150 | |||
Accumulated Depreciation | $ (176) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2315 Stalybridge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 507 | |||
Buildings and Improvements | 1,723 | |||
Costs Capitalized Subsequent to Acquisition | 507 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 507 | |||
Buildings and Improvements | 1,723 | |||
Total | 2,230 | |||
Accumulated Depreciation | $ (123) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 50 years | |||
2325 Stirling UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 828 | |||
Buildings and Improvements | 4,502 | |||
Costs Capitalized Subsequent to Acquisition | 828 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 828 | |||
Buildings and Improvements | 4,914 | |||
Total | 5,742 | |||
Accumulated Depreciation | $ (339) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2329 Stirling UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,013 | |||
Buildings and Improvements | 3,691 | |||
Costs Capitalized Subsequent to Acquisition | 1,013 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,013 | |||
Buildings and Improvements | 4,281 | |||
Total | 5,294 | |||
Accumulated Depreciation | $ (344) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2337 Wigan UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 494 | |||
Buildings and Improvements | 1,662 | |||
Costs Capitalized Subsequent to Acquisition | 494 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 493 | |||
Buildings and Improvements | 1,676 | |||
Total | 2,169 | |||
Accumulated Depreciation | $ (142) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2338 Wigan UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 433 | |||
Buildings and Improvements | 3,460 | |||
Costs Capitalized Subsequent to Acquisition | 433 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 432 | |||
Buildings and Improvements | 3,481 | |||
Total | 3,913 | |||
Accumulated Depreciation | $ (229) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2334 Wotton under Edge UK | United Kingdom | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 581 | |||
Buildings and Improvements | 2,275 | |||
Costs Capitalized Subsequent to Acquisition | 581 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 581 | |||
Buildings and Improvements | 2,424 | |||
Total | 3,005 | |||
Accumulated Depreciation | $ (208) | |||
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 | 39,531 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 50,989 | |||
Buildings and Improvements | 41,322 | |||
Total | 92,311 | |||
1522 Carlsbad CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 23,475 | |||
Costs Capitalized Subsequent to Acquisition | 2,828 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 23,475 | |||
Buildings and Improvements | 2,828 | |||
Total | 26,303 | |||
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 | $ (2,358) | |||
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 | $ (3,677) | |||
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 | 2,304 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,900 | |||
Buildings and Improvements | 9,149 | |||
Total | 11,049 | |||
Accumulated Depreciation | $ (2,032) | |||
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 | 682 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,200 | |||
Buildings and Improvements | 17,883 | |||
Total | 20,083 | |||
Accumulated Depreciation | $ (4,054) | |||
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 | $ (5,544) | |||
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 | 3,073 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,055 | |||
Buildings and Improvements | 6,020 | |||
Total | 7,075 | |||
Accumulated Depreciation | $ (2,030) | |||
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 | 5,583 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 710 | |||
Buildings and Improvements | 8,256 | |||
Total | 8,966 | |||
Accumulated Depreciation | $ (5,570) | |||
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 | 4,264 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 693 | |||
Buildings and Improvements | 6,227 | |||
Total | 6,920 | |||
Accumulated Depreciation | $ (3,266) | |||
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 | $ (2,944) | |||
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 | 7,361 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,225 | |||
Buildings and Improvements | 16,791 | |||
Total | 18,016 | |||
Accumulated Depreciation | $ (4,274) | |||
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 | 6,133 | |||
Total | 7,416 | |||
Accumulated Depreciation | $ (2,424) | |||
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 | 6,354 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,566 | |||
Buildings and Improvements | 19,841 | |||
Total | 21,407 | |||
Accumulated Depreciation | $ (6,060) | |||
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 | $ (4,389) | |||
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 | 7,908 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,719 | |||
Buildings and Improvements | 31,103 | |||
Total | 40,822 | |||
Accumulated Depreciation | $ (7,689) | |||
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 | $ (4,755) | |||
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 | 4,875 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,291 | |||
Buildings and Improvements | 16,857 | |||
Total | 24,148 | |||
Accumulated Depreciation | $ (7,269) | |||
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 | 6,136 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,746 | |||
Buildings and Improvements | 22,240 | |||
Total | 30,986 | |||
Accumulated Depreciation | $ (6,507) | |||
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 | 689 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,686 | |||
Buildings and Improvements | 11,404 | |||
Total | 14,090 | |||
Accumulated Depreciation | $ (2,272) | |||
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 | 5,299 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,753 | |||
Buildings and Improvements | 37,828 | |||
Total | 46,581 | |||
Accumulated Depreciation | $ (2,645) | |||
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 | $ (6,786) | |||
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 | $ (6,265) | |||
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 | $ (2,476) | |||
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 | $ (2,204) | |||
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 | $ (2,284) | |||
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 | $ (4,416) | |||
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 | $ (5,749) | |||
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 | $ (5,553) | |||
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 | 17,332 | |||
Total | 24,332 | |||
Accumulated Depreciation | $ (4,149) | |||
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 | 40,487 | |||
Total | 54,587 | |||
Accumulated Depreciation | $ (16,468) | |||
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 | $ (13,149) | |||
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 | $ 20,240 | |||
Costs Capitalized Subsequent to Acquisition | 1,117 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 21,255 | |||
Total | 21,255 | |||
Accumulated Depreciation | $ (3,131) | |||
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 | 6,048 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,826 | |||
Buildings and Improvements | 18,248 | |||
Total | 24,074 | |||
Accumulated Depreciation | $ (8,589) | |||
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 | $ (7,127) | |||
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 | 11,908 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,654 | |||
Buildings and Improvements | 11,908 | |||
Total | 20,562 | |||
Accumulated Depreciation | $ (880) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1473 Poway, CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 21,730 | |||
Buildings and Improvements | 2,405 | |||
Costs Capitalized Subsequent to Acquisition | 7,072 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 21,730 | |||
Buildings and Improvements | 9,477 | |||
Total | 31,207 | |||
1477 Poway CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 25,359 | |||
Buildings and Improvements | 2,475 | |||
Costs Capitalized Subsequent to Acquisition | 14,805 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 25,359 | |||
Buildings and Improvements | 17,279 | |||
Total | 42,638 | |||
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 | $ (3,390) | |||
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 | 2,373 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,407 | |||
Buildings and Improvements | 7,334 | |||
Total | 10,741 | |||
Accumulated Depreciation | $ (2,357) | |||
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 | $ (1,358) | |||
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 | 5,024 | |||
Total | 8,631 | |||
Accumulated Depreciation | $ (1,553) | |||
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 | $ (1,718) | |||
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 | 3,300 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,818 | |||
Buildings and Improvements | 20,583 | |||
Total | 25,401 | |||
Accumulated Depreciation | $ (5,521) | |||
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 | 969 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,418 | |||
Buildings and Improvements | 16,451 | |||
Total | 21,869 | |||
Accumulated Depreciation | $ (3,830) | |||
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 | 826 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,006 | |||
Buildings and Improvements | 4,115 | |||
Total | 7,121 | |||
Accumulated Depreciation | $ (1,451) | |||
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 | 17,546 | |||
Total | 23,564 | |||
Accumulated Depreciation | $ (4,131) | |||
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 | 13,594 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,912 | |||
Buildings and Improvements | 26,382 | |||
Total | 28,294 | |||
Accumulated Depreciation | $ (5,469) | |||
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 | $ (4,687) | |||
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 | 9,004 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,712 | |||
Buildings and Improvements | 19,424 | |||
Total | 22,136 | |||
Accumulated Depreciation | $ (5,975) | |||
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 | 5,395 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,212 | |||
Buildings and Improvements | 17,383 | |||
Total | 19,595 | |||
Accumulated Depreciation | $ (6,495) | |||
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 | 1,828 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,612 | |||
Buildings and Improvements | 10,561 | |||
Total | 13,173 | |||
Accumulated Depreciation | $ (2,424) | |||
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 | 12,361 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,300 | |||
Buildings and Improvements | 30,361 | |||
Total | 33,661 | |||
Accumulated Depreciation | $ (6,486) | |||
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 | 14,739 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,326 | |||
Buildings and Improvements | 32,613 | |||
Total | 35,939 | |||
Accumulated Depreciation | $ (7,173) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
678 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,603 | |||
Buildings and Improvements | 11,051 | |||
Costs Capitalized Subsequent to Acquisition | 3,745 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,603 | |||
Buildings and Improvements | 14,796 | |||
Total | 17,399 | |||
Accumulated Depreciation | $ (4,250) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
679 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,269 | |||
Buildings and Improvements | 23,566 | |||
Costs Capitalized Subsequent to Acquisition | 14,757 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,669 | |||
Buildings and Improvements | 37,176 | |||
Total | 42,845 | |||
Accumulated Depreciation | $ (13,594) | |||
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 | 2,028 | |||
Costs Capitalized Subsequent to Acquisition | 8,982 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,630 | |||
Buildings and Improvements | 11,011 | |||
Total | 15,641 | |||
Accumulated Depreciation | $ (5,483) | |||
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 | 903 | |||
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 | $ (1,822) | |||
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 | 5,735 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,951 | |||
Buildings and Improvements | 5,689 | |||
Total | 9,640 | |||
Accumulated Depreciation | $ (1,274) | |||
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 | (1,392) | |||
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 | 37,646 | |||
Total | 49,346 | |||
Accumulated Depreciation | $ (11,440) | |||
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 | 4,886 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,524 | |||
Buildings and Improvements | 4,886 | |||
Total | 11,410 | |||
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 | 1,258 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,000 | |||
Buildings and Improvements | 35,037 | |||
Total | 42,037 | |||
Accumulated Depreciation | $ (7,969) | |||
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 | 4,528 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,184 | |||
Buildings and Improvements | 8,210 | |||
Total | 15,394 | |||
Accumulated Depreciation | $ (1,632) | |||
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 | $ (7,807) | |||
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 | 2,224 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,888 | |||
Buildings and Improvements | 24,580 | |||
Total | 32,468 | |||
Accumulated Depreciation | $ (6,518) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
1947 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,581 | |||
Buildings and Improvements | 10,534 | |||
Costs Capitalized Subsequent to Acquisition | 3,952 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,581 | |||
Buildings and Improvements | 14,486 | |||
Total | 17,067 | |||
Accumulated Depreciation | $ (2,470) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1948 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 5,879 | |||
Buildings and Improvements | 25,305 | |||
Costs Capitalized Subsequent to Acquisition | 2,481 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,879 | |||
Buildings and Improvements | 27,783 | |||
Total | 33,662 | |||
Accumulated Depreciation | $ (6,359) | |||
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 | $ 691 | |||
Initial Cost to Company | ||||
Land | 884 | |||
Buildings and Improvements | 2,796 | |||
Costs Capitalized Subsequent to Acquisition | 32 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 895 | |||
Buildings and Improvements | 2,816 | |||
Total | 3,711 | |||
Accumulated Depreciation | $ (560) | |||
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 | 3,801 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,626 | |||
Buildings and Improvements | 6,417 | |||
Total | 14,043 | |||
Accumulated Depreciation | $ (2,289) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 33 years | |||
2476 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,661 | |||
Buildings and Improvements | 9,918 | |||
Costs Capitalized Subsequent to Acquisition | 2 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,661 | |||
Buildings and Improvements | 9,920 | |||
Total | 17,581 | |||
Accumulated Depreciation | $ (118) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2477 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 9,207 | |||
Buildings and Improvements | 14,613 | |||
Costs Capitalized Subsequent to Acquisition | 523 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,207 | |||
Buildings and Improvements | 15,136 | |||
Total | 24,343 | |||
Accumulated Depreciation | $ (174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2478 San Diego CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,000 | |||
Total | 6,000 | |||
1407 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 7,182 | |||
Buildings and Improvements | 12,140 | |||
Costs Capitalized Subsequent to Acquisition | 9,477 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,182 | |||
Buildings and Improvements | 17,997 | |||
Total | 25,179 | |||
Accumulated Depreciation | $ (6,137) | |||
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 | 1,260 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,000 | |||
Buildings and Improvements | 19,060 | |||
Total | 28,060 | |||
Accumulated Depreciation | $ (4,922) | |||
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 | 4,850 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 18,000 | |||
Buildings and Improvements | 42,893 | |||
Total | 60,893 | |||
Accumulated Depreciation | $ (9,465) | |||
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 | $ (4,325) | |||
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 | $ (6,580) | |||
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 | 2,003 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,100 | |||
Buildings and Improvements | 24,524 | |||
Total | 34,624 | |||
Accumulated Depreciation | $ (5,526) | |||
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 | 282 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,000 | |||
Buildings and Improvements | 28,581 | |||
Total | 36,581 | |||
Accumulated Depreciation | $ (6,701) | |||
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 | 2,278 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,700 | |||
Buildings and Improvements | 23,078 | |||
Total | 26,778 | |||
Accumulated Depreciation | $ (5,243) | |||
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 | 2,143 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,700 | |||
Buildings and Improvements | 25,764 | |||
Total | 36,464 | |||
Accumulated Depreciation | $ (6,078) | |||
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 | 511 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,000 | |||
Buildings and Improvements | 16,012 | |||
Total | 23,012 | |||
Accumulated Depreciation | $ (3,682) | |||
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 | 36,982 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,800 | |||
Buildings and Improvements | 79,483 | |||
Total | 93,283 | |||
Accumulated Depreciation | $ (16,559) | |||
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 | 36,599 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 14,500 | |||
Buildings and Improvements | 81,899 | |||
Total | 96,399 | |||
Accumulated Depreciation | $ (17,134) | |||
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 | 45,139 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,400 | |||
Buildings and Improvements | 69,938 | |||
Total | 79,338 | |||
Accumulated Depreciation | $ (12,480) | |||
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 | 82 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,900 | |||
Buildings and Improvements | 68,930 | |||
Total | 80,830 | |||
Accumulated Depreciation | $ (16,223) | |||
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 | |||
Costs Capitalized Subsequent to Acquisition | 6 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,000 | |||
Buildings and Improvements | 57,960 | |||
Total | 67,960 | |||
Accumulated Depreciation | $ (13,644) | |||
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 | |||
Costs Capitalized Subsequent to Acquisition | 5 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,300 | |||
Buildings and Improvements | 43,554 | |||
Total | 52,854 | |||
Accumulated Depreciation | $ (10,253) | |||
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 | 87 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11,000 | |||
Buildings and Improvements | 47,376 | |||
Total | 58,376 | |||
Accumulated Depreciation | $ (11,182) | |||
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 | 1,165 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,200 | |||
Buildings and Improvements | 62,097 | |||
Total | 75,297 | |||
Accumulated Depreciation | $ (13,930) | |||
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 | 357 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,500 | |||
Buildings and Improvements | 34,132 | |||
Total | 44,632 | |||
Accumulated Depreciation | $ (8,116) | |||
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 | |||
Costs Capitalized Subsequent to Acquisition | 5 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,600 | |||
Buildings and Improvements | 34,088 | |||
Total | 44,688 | |||
Accumulated Depreciation | $ (8,024) | |||
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 | $ (15,189) | |||
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 | $ (16,646) | |||
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 | 6,052 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,261 | |||
Buildings and Improvements | 47,428 | |||
Total | 57,689 | |||
Accumulated Depreciation | $ (13,065) | |||
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 | $ (9,247) | |||
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 | 24,662 | |||
Total | 35,571 | |||
Accumulated Depreciation | $ (6,514) | |||
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 | 220 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,600 | |||
Buildings and Improvements | 321 | |||
Total | 3,921 | |||
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 | 116 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,300 | |||
Buildings and Improvements | 215 | |||
Total | 2,515 | |||
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 | 216 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,900 | |||
Buildings and Improvements | 416 | |||
Total | 4,316 | |||
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 | 4,925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,117 | |||
Buildings and Improvements | 5,176 | |||
Total | 12,293 | |||
Accumulated Depreciation | $ (1,841) | |||
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 | 17,875 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 10,381 | |||
Buildings and Improvements | 20,175 | |||
Total | 30,556 | |||
Accumulated Depreciation | $ (4,569) | |||
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 | $ (4,872) | |||
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 | $ (6,760) | |||
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 | 11,207 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 32,210 | |||
Buildings and Improvements | 14,317 | |||
Total | 46,527 | |||
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 | 12,966 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,695 | |||
Buildings and Improvements | 18,641 | |||
Total | 24,336 | |||
Accumulated Depreciation | $ (8,348) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 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 | 409 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,210 | |||
Buildings and Improvements | 1,681 | |||
Total | 2,891 | |||
Accumulated Depreciation | $ (1,391) | |||
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 | $ 8,648 | |||
Costs Capitalized Subsequent to Acquisition | 92,639 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,648 | |||
Buildings and Improvements | 92,639 | |||
Total | 101,287 | |||
Accumulated Depreciation | $ (1,344) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1985 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 13,416 | |||
Costs Capitalized Subsequent to Acquisition | 98,736 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 13,416 | |||
Buildings and Improvements | 98,736 | |||
Total | 112,152 | |||
1987 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 18,664 | |||
Costs Capitalized Subsequent to Acquisition | 6,252 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 18,664 | |||
Buildings and Improvements | 6,252 | |||
Total | 24,916 | |||
2553 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 2,897 | |||
Buildings and Improvements | 8,691 | |||
Costs Capitalized Subsequent to Acquisition | 1,566 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,897 | |||
Buildings and Improvements | 10,257 | |||
Total | 13,154 | |||
Accumulated Depreciation | $ (369) | |||
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 | $ (85) | |||
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 | |||
Costs Capitalized Subsequent to Acquisition | 50 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,202 | |||
Buildings and Improvements | 10,826 | |||
Total | 13,028 | |||
Accumulated Depreciation | $ (334) | |||
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 | $ (468) | |||
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 | $ (404) | |||
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 | $ (183) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1984 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,845 | |||
Costs Capitalized Subsequent to Acquisition | 57,009 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,845 | |||
Buildings and Improvements | 57,009 | |||
Total | 64,854 | |||
1989 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 9,169 | |||
Costs Capitalized Subsequent to Acquisition | 2,631 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 9,169 | |||
Buildings and Improvements | 2,631 | |||
Total | 11,800 | |||
2614 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | 5,079 | |||
Buildings and Improvements | 8,584 | |||
Costs Capitalized Subsequent to Acquisition | 1,330 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,079 | |||
Buildings and Improvements | 9,914 | |||
Total | 14,993 | |||
Accumulated Depreciation | $ (2,944) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2615 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 7,984 | |||
Buildings and Improvements | 13,495 | |||
Costs Capitalized Subsequent to Acquisition | 3,238 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,984 | |||
Buildings and Improvements | 16,733 | |||
Total | 24,717 | |||
Accumulated Depreciation | $ (4,435) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2616 South San Francisco CA | Life science | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 8,355 | |||
Buildings and Improvements | 14,121 | |||
Costs Capitalized Subsequent to Acquisition | 1,871 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,355 | |||
Buildings and Improvements | 15,992 | |||
Total | 24,347 | |||
Accumulated Depreciation | $ (4,693) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2011 Durham NC | Life science | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 6,780 | |||
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 | $ (3,709) | |||
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 | 34,083 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,920 | |||
Buildings and Improvements | 39,744 | |||
Total | 41,664 | |||
Accumulated Depreciation | $ (5,157) | |||
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 | |||
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 | 1,275 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 630 | |||
Buildings and Improvements | 8,197 | |||
Total | 8,827 | |||
Accumulated Depreciation | $ (2,910) | |||
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 | $ (2,231) | |||
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 | $ (4,545) | |||
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 | $ (1,560) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 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 | $ (3,609) | |||
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 | $ (4,666) | |||
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 | 11,925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,456 | |||
Buildings and Improvements | 22,522 | |||
Total | 23,978 | |||
Accumulated Depreciation | $ (4,898) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2572 Springdale AR | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 27,714 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 27,714 | |||
Total | $ 27,714 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
520 Chandler AZ | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,669 | |||
Buildings and Improvements | 13,503 | |||
Costs Capitalized Subsequent to Acquisition | 2,390 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,669 | |||
Buildings and Improvements | 15,601 | |||
Total | 19,270 | |||
Accumulated Depreciation | $ (5,333) | |||
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 | 653 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 17,952 | |||
Total | 17,952 | |||
Accumulated Depreciation | $ (2,049) | |||
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 | 925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,050 | |||
Buildings and Improvements | 7,124 | |||
Total | 8,174 | |||
Accumulated Depreciation | $ (2,622) | |||
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 | 1,401 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 780 | |||
Buildings and Improvements | 3,717 | |||
Total | 4,497 | |||
Accumulated Depreciation | $ (1,744) | |||
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 | 946 | |||
Total | 1,226 | |||
Accumulated Depreciation | $ (316) | |||
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 | 3,359 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,811 | |||
Buildings and Improvements | 17,076 | |||
Total | 21,887 | |||
Accumulated Depreciation | $ (5,038) | |||
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 | 1,400 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 13,665 | |||
Total | 13,665 | |||
Accumulated Depreciation | $ (3,026) | |||
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 | 817 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,911 | |||
Total | 9,911 | |||
Accumulated Depreciation | $ (2,358) | |||
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 | 1,159 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,529 | |||
Total | 7,529 | |||
Accumulated Depreciation | $ (1,452) | |||
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 | 598 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,121 | |||
Total | 10,121 | |||
Accumulated Depreciation | $ (1,954) | |||
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 | 1,311 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,378 | |||
Total | 5,378 | |||
Accumulated Depreciation | $ (1,307) | |||
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 | 981 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 4,596 | |||
Total | 4,596 | |||
Accumulated Depreciation | $ (829) | |||
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 | 1,204 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,354 | |||
Total | 8,354 | |||
Accumulated Depreciation | $ (1,658) | |||
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 | 937 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,596 | |||
Total | 7,596 | |||
Accumulated Depreciation | $ (1,516) | |||
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 | 1,363 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 326 | |||
Buildings and Improvements | 7,045 | |||
Total | 7,371 | |||
Accumulated Depreciation | $ (3,082) | |||
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 | 1,081 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 267 | |||
Buildings and Improvements | 4,541 | |||
Total | 4,808 | |||
Accumulated Depreciation | $ (1,357) | |||
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 | 2,658 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 187 | |||
Buildings and Improvements | 32,848 | |||
Total | 33,035 | |||
Accumulated Depreciation | $ (8,794) | |||
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 | 3,954 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,645 | |||
Buildings and Improvements | 13,274 | |||
Total | 19,919 | |||
Accumulated Depreciation | $ (4,553) | |||
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 | 3,463 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 638 | |||
Buildings and Improvements | 11,359 | |||
Total | 11,997 | |||
Accumulated Depreciation | $ (5,272) | |||
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 | 2,822 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,887 | |||
Buildings and Improvements | 11,778 | |||
Total | 14,665 | |||
Accumulated Depreciation | $ (6,400) | |||
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 | 37,566 | |||
Costs Capitalized Subsequent to Acquisition | 27,051 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,911 | |||
Buildings and Improvements | 63,715 | |||
Total | 66,626 | |||
Accumulated Depreciation | $ (7,765) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2404 Sacramento CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,268 | |||
Buildings and Improvements | 5,109 | |||
Costs Capitalized Subsequent to Acquisition | 198 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,299 | |||
Buildings and Improvements | 5,277 | |||
Total | 6,576 | |||
Accumulated Depreciation | $ (388) | |||
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 | 5,052 | |||
Total | 8,061 | |||
Accumulated Depreciation | $ (3,027) | |||
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 | 9,299 | |||
Total | 12,367 | |||
Accumulated Depreciation | $ (5,939) | |||
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 | 16,976 | |||
Total | 21,687 | |||
Accumulated Depreciation | $ (9,791) | |||
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 | 19,984 | |||
Costs Capitalized Subsequent to Acquisition | 16,294 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,964 | |||
Buildings and Improvements | 34,905 | |||
Total | 37,869 | |||
Accumulated Depreciation | $ (7,017) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 22 years | |||
564 San Jose CA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,935 | |||
Buildings and Improvements | 1,728 | |||
Costs Capitalized Subsequent to Acquisition | 2,303 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,935 | |||
Buildings and Improvements | 3,338 | |||
Total | 5,273 | |||
Accumulated Depreciation | $ (1,445) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
565 San Jose CA | Medical office | Operating segment | ||||
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 | $ (3,237) | |||
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 | $ (1,194) | |||
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 | 4,988 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7,943 | |||
Buildings and Improvements | 14,105 | |||
Total | 22,048 | |||
Accumulated Depreciation | $ (6,483) | |||
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 | 3,038 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,404 | |||
Buildings and Improvements | 8,172 | |||
Total | 10,576 | |||
Accumulated Depreciation | $ (3,442) | |||
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 | 708 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,383 | |||
Buildings and Improvements | 7,972 | |||
Total | 9,355 | |||
Accumulated Depreciation | $ (2,157) | |||
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 | 3,357 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,259 | |||
Buildings and Improvements | 11,531 | |||
Total | 13,790 | |||
Accumulated Depreciation | $ (5,425) | |||
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 | 2,283 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,726 | |||
Total | 8,726 | |||
Accumulated Depreciation | $ (2,918) | |||
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 | 2,306 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 210 | |||
Buildings and Improvements | 14,273 | |||
Total | 14,483 | |||
Accumulated Depreciation | $ (3,805) | |||
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 | 2,326 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 200 | |||
Buildings and Improvements | 10,427 | |||
Total | 10,627 | |||
Accumulated Depreciation | $ (3,096) | |||
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 | 10,672 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 22,462 | |||
Total | 22,462 | |||
Accumulated Depreciation | $ (6,783) | |||
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 | $ (439) | |||
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 | 9,401 | |||
Total | 10,023 | |||
Accumulated Depreciation | $ (3,037) | |||
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 | 8,336 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 11 | |||
Buildings and Improvements | 16,146 | |||
Total | 16,157 | |||
Accumulated Depreciation | $ (5,303) | |||
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 | 3,462 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,872 | |||
Total | 10,872 | |||
Accumulated Depreciation | $ (3,929) | |||
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 | 7,408 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 14,464 | |||
Total | 14,464 | |||
Accumulated Depreciation | $ (4,853) | |||
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 | 3,515 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,082 | |||
Total | 11,082 | |||
Accumulated Depreciation | $ (3,769) | |||
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 | 2,398 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 257 | |||
Buildings and Improvements | 6,340 | |||
Total | 6,597 | |||
Accumulated Depreciation | $ (2,505) | |||
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 | 1,853 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 106 | |||
Buildings and Improvements | 6,201 | |||
Total | 6,307 | |||
Accumulated Depreciation | $ (1,994) | |||
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 | $ 19,702 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,078 | |||
Total | 19,078 | |||
Accumulated Depreciation | $ (5,989) | |||
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 | 2,637 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 25,501 | |||
Total | 25,501 | |||
Accumulated Depreciation | $ (7,583) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2233 Lone Tree CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,734 | |||
Costs Capitalized Subsequent to Acquisition | 24,974 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 31,708 | |||
Total | 31,708 | |||
Accumulated Depreciation | (624) | |||
1076 Parker CO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | 13,388 | |||
Costs Capitalized Subsequent to Acquisition | 782 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8 | |||
Buildings and Improvements | 14,089 | |||
Total | 14,097 | |||
Accumulated Depreciation | $ (3,940) | |||
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 | 3,382 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 454 | |||
Buildings and Improvements | 13,345 | |||
Total | 13,799 | |||
Accumulated Depreciation | $ (4,935) | |||
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 | 930 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 113 | |||
Buildings and Improvements | 5,532 | |||
Total | 5,645 | |||
Accumulated Depreciation | $ (2,703) | |||
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 | 274 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5 | |||
Buildings and Improvements | 2,149 | |||
Total | 2,154 | |||
Accumulated Depreciation | $ (1,067) | |||
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 | 786 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 2,532 | |||
Total | 2,532 | |||
Accumulated Depreciation | $ (1,323) | |||
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 | 918 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 455 | |||
Buildings and Improvements | 2,886 | |||
Total | 3,341 | |||
Accumulated Depreciation | $ (809) | |||
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 | 407 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 198 | |||
Buildings and Improvements | 1,359 | |||
Total | 1,557 | |||
Accumulated Depreciation | $ (493) | |||
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 | 636 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 788 | |||
Buildings and Improvements | 722 | |||
Total | 1,510 | |||
Accumulated Depreciation | $ (161) | |||
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 | 739 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 493 | |||
Buildings and Improvements | 1,007 | |||
Total | 1,500 | |||
Accumulated Depreciation | $ (432) | |||
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 | 2,318 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,586 | |||
Total | 8,586 | |||
Accumulated Depreciation | $ (2,644) | |||
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 | $ (1,706) | |||
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 | 1,302 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,553 | |||
Buildings and Improvements | 8,043 | |||
Total | 9,596 | |||
Accumulated Depreciation | $ (2,521) | |||
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 | 3,925 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,392 | |||
Buildings and Improvements | 14,606 | |||
Total | 18,998 | |||
Accumulated Depreciation | $ (4,961) | |||
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 | 3,325 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 16,448 | |||
Total | 16,448 | |||
Accumulated Depreciation | $ (1,858) | |||
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 | 1,837 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,713 | |||
Total | 10,713 | |||
Accumulated Depreciation | $ (1,012) | |||
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 | 269 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,816 | |||
Total | 8,816 | |||
Accumulated Depreciation | $ (2,310) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2577 Naples FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 29,186 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 29,186 | |||
Total | $ 29,186 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2578 Naples FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 18,819 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 18,819 | |||
Total | $ 18,819 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 46 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 | 4,840 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,343 | |||
Buildings and Improvements | 8,731 | |||
Total | 11,074 | |||
Accumulated Depreciation | $ (3,860) | |||
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 | 2,899 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 26 | |||
Buildings and Improvements | 10,888 | |||
Total | 10,914 | |||
Accumulated Depreciation | $ (2,593) | |||
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 | $ (3,020) | |||
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 | 1,535 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,017 | |||
Buildings and Improvements | 4,299 | |||
Total | 5,316 | |||
Accumulated Depreciation | $ (1,444) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
701 St Petersburg FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 13,754 | |||
Costs Capitalized Subsequent to Acquisition | 7,107 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,871 | |||
Total | 19,871 | |||
Accumulated Depreciation | (5,021) | |||
1210 Tampa FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,967 | |||
Buildings and Improvements | 6,602 | |||
Costs Capitalized Subsequent to Acquisition | 5,668 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,194 | |||
Buildings and Improvements | 10,840 | |||
Total | 13,034 | |||
Accumulated Depreciation | $ (5,008) | |||
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 | $ (844) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2576 Statesboro GA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 10,234 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,234 | |||
Total | $ 10,234 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 28 years | |||
1065 Marion IL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 99 | |||
Buildings and Improvements | 11,484 | |||
Costs Capitalized Subsequent to Acquisition | 747 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 100 | |||
Buildings and Improvements | 12,205 | |||
Total | 12,305 | |||
Accumulated Depreciation | $ (3,385) | |||
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 | 4,243 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 18,256 | |||
Total | 18,256 | |||
Accumulated Depreciation | $ (4,583) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2039 Kansas City KS | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 440 | |||
Buildings and Improvements | 2,173 | |||
Costs Capitalized Subsequent to Acquisition | 17 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 448 | |||
Buildings and Improvements | 2,181 | |||
Total | 2,629 | |||
Accumulated Depreciation | $ (301) | |||
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 | 7,961 | |||
Total | 7,961 | |||
Accumulated Depreciation | $ (1,022) | |||
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 | 537 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 530 | |||
Buildings and Improvements | 3,878 | |||
Total | 4,408 | |||
Accumulated Depreciation | $ (1,546) | |||
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 | 1,248 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 13,761 | |||
Total | 13,761 | |||
Accumulated Depreciation | $ (4,004) | |||
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 | 5,119 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 936 | |||
Buildings and Improvements | 11,402 | |||
Total | 12,338 | |||
Accumulated Depreciation | $ (9,366) | |||
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 | 4,847 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 878 | |||
Buildings and Improvements | 30,456 | |||
Total | 31,334 | |||
Accumulated Depreciation | $ (9,862) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
738 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 780 | |||
Buildings and Improvements | 8,582 | |||
Costs Capitalized Subsequent to Acquisition | 5,202 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 851 | |||
Buildings and Improvements | 12,248 | |||
Total | 13,099 | |||
Accumulated Depreciation | $ (6,988) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 18 years | |||
739 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 826 | |||
Buildings and Improvements | 13,814 | |||
Costs Capitalized Subsequent to Acquisition | 1,821 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 832 | |||
Buildings and Improvements | 14,190 | |||
Total | 15,022 | |||
Accumulated Depreciation | $ (4,373) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
740 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,983 | |||
Buildings and Improvements | 13,171 | |||
Costs Capitalized Subsequent to Acquisition | 4,623 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,991 | |||
Buildings and Improvements | 16,864 | |||
Total | 19,855 | |||
Accumulated Depreciation | $ (6,585) | |||
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 | $ (579) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
1945 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,255 | |||
Buildings and Improvements | 28,644 | |||
Costs Capitalized Subsequent to Acquisition | 691 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,255 | |||
Buildings and Improvements | 29,034 | |||
Total | 32,289 | |||
Accumulated Depreciation | $ (6,083) | |||
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 | 152 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 430 | |||
Buildings and Improvements | 6,277 | |||
Total | 6,707 | |||
Accumulated Depreciation | $ (1,241) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2237 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,519 | |||
Buildings and Improvements | 15,386 | |||
Costs Capitalized Subsequent to Acquisition | 2,563 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,542 | |||
Buildings and Improvements | 17,925 | |||
Total | 19,467 | |||
Accumulated Depreciation | $ (1,345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2238 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,334 | |||
Buildings and Improvements | 12,172 | |||
Costs Capitalized Subsequent to Acquisition | 1,033 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,511 | |||
Buildings and Improvements | 13,028 | |||
Total | 14,539 | |||
Accumulated Depreciation | $ (1,181) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2239 Louisville KY | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,644 | |||
Buildings and Improvements | 10,832 | |||
Costs Capitalized Subsequent to Acquisition | 2,473 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,718 | |||
Buildings and Improvements | 13,230 | |||
Total | 14,948 | |||
Accumulated Depreciation | $ (933) | |||
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 | 2,122 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 869 | |||
Buildings and Improvements | 9,609 | |||
Total | 10,478 | |||
Accumulated Depreciation | $ (2,741) | |||
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 | 2,614 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,222 | |||
Buildings and Improvements | 5,491 | |||
Total | 6,713 | |||
Accumulated Depreciation | $ (2,295) | |||
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 | $ (2,567) | |||
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 | 15,150 | |||
Total | 15,150 | |||
Accumulated Depreciation | $ (5,511) | |||
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 | 2,343 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 117 | |||
Buildings and Improvements | 15,031 | |||
Total | 15,148 | |||
Accumulated Depreciation | $ (7,886) | |||
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 | 4,566 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 160 | |||
Buildings and Improvements | 13,720 | |||
Total | 13,880 | |||
Accumulated Depreciation | $ (6,552) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2032 Independence MO | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 48,025 | |||
Costs Capitalized Subsequent to Acquisition | 787 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 48,812 | |||
Total | 48,812 | |||
Accumulated Depreciation | $ (5,068) | |||
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 | 753 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,139 | |||
Total | 9,139 | |||
Accumulated Depreciation | $ (2,712) | |||
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 | 114 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,982 | |||
Total | 8,982 | |||
Accumulated Depreciation | $ (2,300) | |||
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 | 2,182 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,369 | |||
Total | 9,369 | |||
Accumulated Depreciation | $ (2,954) | |||
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 | 1,147 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 17 | |||
Buildings and Improvements | 17,317 | |||
Total | 17,334 | |||
Accumulated Depreciation | $ (4,687) | |||
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 | 423 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,658 | |||
Total | 5,658 | |||
Accumulated Depreciation | $ (1,749) | |||
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 | $ (1,356) | |||
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 | $ 18,743 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 17,570 | |||
Total | 17,570 | |||
Accumulated Depreciation | $ (5,859) | |||
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 | 5,328 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,302 | |||
Buildings and Improvements | 7,858 | |||
Total | 9,160 | |||
Accumulated Depreciation | $ (3,045) | |||
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 | 5,217 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,447 | |||
Buildings and Improvements | 9,006 | |||
Total | 11,453 | |||
Accumulated Depreciation | $ (3,500) | |||
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 | 4,869 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,480 | |||
Buildings and Improvements | 14,956 | |||
Total | 18,436 | |||
Accumulated Depreciation | $ (4,874) | |||
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 | 5,798 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,724 | |||
Buildings and Improvements | 8,104 | |||
Total | 9,828 | |||
Accumulated Depreciation | $ (2,043) | |||
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 | 441 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,172 | |||
Buildings and Improvements | 441 | |||
Total | 1,613 | |||
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 | 7,507 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,273 | |||
Buildings and Improvements | 24,540 | |||
Total | 27,813 | |||
Accumulated Depreciation | $ (8,712) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2037 Mesquite NV | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 5,559 | |||
Costs Capitalized Subsequent to Acquisition | 206 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,754 | |||
Total | 5,754 | |||
Accumulated Depreciation | $ (683) | |||
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 | 2,916 | |||
Total | 3,769 | |||
Accumulated Depreciation | $ (1,156) | |||
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 | $ (2,417) | |||
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 | 1,825 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 659 | |||
Buildings and Improvements | 11,021 | |||
Total | 11,680 | |||
Accumulated Depreciation | $ (2,778) | |||
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 | 1,399 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 5,865 | |||
Total | 5,865 | |||
Accumulated Depreciation | $ (1,637) | |||
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 | |||
Costs Capitalized Subsequent to Acquisition | 700 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 6,407 | |||
Total | 6,407 | |||
Accumulated Depreciation | $ (2,805) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2570 Limerick PA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 925 | |||
Buildings and Improvements | 20,072 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 925 | |||
Buildings and Improvements | 20,072 | |||
Total | $ 20,997 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 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 | 2,586 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 24,288 | |||
Buildings and Improvements | 102,465 | |||
Total | 126,753 | |||
Accumulated Depreciation | $ (7,078) | |||
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 | 4,634 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 26,084 | |||
Buildings and Improvements | 102,260 | |||
Total | 128,344 | |||
Accumulated Depreciation | $ (6,900) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2571 Wilkes-Barre PA | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 9,138 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,138 | |||
Total | $ 9,138 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 28 years | |||
2573 Florence SC | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,090 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,090 | |||
Total | $ 12,090 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2574 Florence SC | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,190 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,190 | |||
Total | $ 12,190 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2575 Florence SC | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 11,243 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,243 | |||
Total | $ 11,243 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 29 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 | 772 | |||
Buildings and Improvements | 4,237 | |||
Total | 5,009 | |||
Accumulated Depreciation | $ (2,255) | |||
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 | 1,585 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 256 | |||
Buildings and Improvements | 2,705 | |||
Total | 2,961 | |||
Accumulated Depreciation | $ (965) | |||
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 | 5,914 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 851 | |||
Buildings and Improvements | 9,987 | |||
Total | 10,838 | |||
Accumulated Depreciation | $ (3,840) | |||
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 | 4,967 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 596 | |||
Buildings and Improvements | 13,553 | |||
Total | 14,149 | |||
Accumulated Depreciation | $ (5,366) | |||
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 | 2,674 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 317 | |||
Buildings and Improvements | 8,523 | |||
Total | 8,840 | |||
Accumulated Depreciation | $ (3,586) | |||
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 | 4,863 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 700 | |||
Buildings and Improvements | 9,327 | |||
Total | 10,027 | |||
Accumulated Depreciation | $ (4,185) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 19 years | |||
673 Plantation FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,091 | |||
Buildings and Improvements | 7,176 | |||
Costs Capitalized Subsequent to Acquisition | 1,198 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,091 | |||
Buildings and Improvements | 8,019 | |||
Total | 9,110 | |||
Accumulated Depreciation | $ (2,298) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
2579 Punta Gorda FL | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 9,379 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,379 | |||
Total | $ 9,379 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
625 Nashville TN | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 955 | |||
Buildings and Improvements | 14,289 | |||
Costs Capitalized Subsequent to Acquisition | 3,035 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 955 | |||
Buildings and Improvements | 15,880 | |||
Total | 16,835 | |||
Accumulated Depreciation | $ (4,947) | |||
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 | 3,737 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,055 | |||
Buildings and Improvements | 8,326 | |||
Total | 10,381 | |||
Accumulated Depreciation | $ (3,008) | |||
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 | 723 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,060 | |||
Buildings and Improvements | 826 | |||
Total | 1,886 | |||
Accumulated Depreciation | $ (389) | |||
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 | 2,722 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,980 | |||
Buildings and Improvements | 9,515 | |||
Total | 12,495 | |||
Accumulated Depreciation | $ (3,460) | |||
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 | 293 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 528 | |||
Buildings and Improvements | 1,127 | |||
Total | 1,655 | |||
Accumulated Depreciation | $ (459) | |||
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 | 1,458 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 266 | |||
Buildings and Improvements | 2,536 | |||
Total | 2,802 | |||
Accumulated Depreciation | $ (941) | |||
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 | 3,891 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 827 | |||
Buildings and Improvements | 10,318 | |||
Total | 11,145 | |||
Accumulated Depreciation | $ (3,590) | |||
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 | 4,491 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5,425 | |||
Buildings and Improvements | 16,758 | |||
Total | 22,183 | |||
Accumulated Depreciation | $ (6,486) | |||
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 | 8,406 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,818 | |||
Buildings and Improvements | 22,746 | |||
Total | 26,564 | |||
Accumulated Depreciation | $ (8,424) | |||
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 | $ (250) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
2611 Allen TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,330 | |||
Buildings and Improvements | 5,960 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,330 | |||
Buildings and Improvements | 5,960 | |||
Total | 7,290 | |||
Accumulated Depreciation | $ (33) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2612 Allen TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,310 | |||
Buildings and Improvements | 4,165 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,310 | |||
Buildings and Improvements | 4,165 | |||
Total | 5,475 | |||
Accumulated Depreciation | $ (24) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
573 Arlington TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 769 | |||
Buildings and Improvements | 12,355 | |||
Costs Capitalized Subsequent to Acquisition | 3,864 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 769 | |||
Buildings and Improvements | 15,434 | |||
Total | 16,203 | |||
Accumulated Depreciation | $ (4,986) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
576 Conroe TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 324 | |||
Buildings and Improvements | 4,842 | |||
Costs Capitalized Subsequent to Acquisition | 2,421 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 324 | |||
Buildings and Improvements | 6,198 | |||
Total | 6,522 | |||
Accumulated Depreciation | $ (1,965) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
577 Conroe TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 397 | |||
Buildings and Improvements | 7,966 | |||
Costs Capitalized Subsequent to Acquisition | 2,443 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 397 | |||
Buildings and Improvements | 9,921 | |||
Total | 10,318 | |||
Accumulated Depreciation | $ (3,276) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
578 Conroe TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 388 | |||
Buildings and Improvements | 7,975 | |||
Costs Capitalized Subsequent to Acquisition | 3,946 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 388 | |||
Buildings and Improvements | 11,733 | |||
Total | 12,121 | |||
Accumulated Depreciation | $ (4,061) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 31 years | |||
579 Conroe TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 188 | |||
Buildings and Improvements | 3,618 | |||
Costs Capitalized Subsequent to Acquisition | 1,338 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 188 | |||
Buildings and Improvements | 4,822 | |||
Total | 5,010 | |||
Accumulated Depreciation | $ (1,500) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
581 Corpus Christi TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 717 | |||
Buildings and Improvements | 8,181 | |||
Costs Capitalized Subsequent to Acquisition | 5,164 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 717 | |||
Buildings and Improvements | 12,420 | |||
Total | 13,137 | |||
Accumulated Depreciation | $ (4,635) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
600 Corpus Christi TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 328 | |||
Buildings and Improvements | 3,210 | |||
Costs Capitalized Subsequent to Acquisition | 3,780 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 328 | |||
Buildings and Improvements | 6,468 | |||
Total | 6,796 | |||
Accumulated Depreciation | $ (2,573) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
601 Corpus Christi TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 313 | |||
Buildings and Improvements | 1,771 | |||
Costs Capitalized Subsequent to Acquisition | 1,693 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 325 | |||
Buildings and Improvements | 2,971 | |||
Total | 3,296 | |||
Accumulated Depreciation | $ (968) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
2244 Cypress TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,704 | |||
Costs Capitalized Subsequent to Acquisition | 22,125 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 29,829 | |||
Total | 29,829 | |||
Accumulated Depreciation | (816) | |||
582 Dallas TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,664 | |||
Buildings and Improvements | 6,785 | |||
Costs Capitalized Subsequent to Acquisition | 3,346 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,705 | |||
Buildings and Improvements | 9,225 | |||
Total | 10,930 | |||
Accumulated Depreciation | $ (3,298) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1314 Dallas TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 15,230 | |||
Buildings and Improvements | 162,971 | |||
Costs Capitalized Subsequent to Acquisition | 15,470 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 15,860 | |||
Buildings and Improvements | 175,622 | |||
Total | 191,482 | |||
Accumulated Depreciation | $ (49,189) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
583 Fort Worth TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 898 | |||
Buildings and Improvements | 4,866 | |||
Costs Capitalized Subsequent to Acquisition | 1,933 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 898 | |||
Buildings and Improvements | 6,363 | |||
Total | 7,261 | |||
Accumulated Depreciation | $ (2,248) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
805 Fort Worth TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 2,481 | |||
Costs Capitalized Subsequent to Acquisition | 1,171 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2 | |||
Buildings and Improvements | 3,432 | |||
Total | 3,434 | |||
Accumulated Depreciation | $ (1,598) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
806 Fort Worth TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 6,070 | |||
Costs Capitalized Subsequent to Acquisition | 508 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 5 | |||
Buildings and Improvements | 6,432 | |||
Total | 6,437 | |||
Accumulated Depreciation | $ (1,875) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2231 Fort Worth TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 902 | |||
Costs Capitalized Subsequent to Acquisition | 44 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 946 | |||
Total | 946 | |||
Accumulated Depreciation | (8) | |||
1061 Granbury TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | 6,863 | |||
Costs Capitalized Subsequent to Acquisition | 1,028 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,835 | |||
Total | 7,835 | |||
Accumulated Depreciation | $ (1,823) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
430 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,927 | |||
Buildings and Improvements | 33,140 | |||
Costs Capitalized Subsequent to Acquisition | 7,424 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,151 | |||
Buildings and Improvements | 38,994 | |||
Total | 41,145 | |||
Accumulated Depreciation | $ (17,729) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
446 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,200 | |||
Buildings and Improvements | 19,585 | |||
Costs Capitalized Subsequent to Acquisition | 9,867 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,209 | |||
Buildings and Improvements | 24,196 | |||
Total | 26,405 | |||
Accumulated Depreciation | $ (16,770) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 17 years | |||
589 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,676 | |||
Buildings and Improvements | 12,602 | |||
Costs Capitalized Subsequent to Acquisition | 5,453 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,706 | |||
Buildings and Improvements | 16,174 | |||
Total | 17,880 | |||
Accumulated Depreciation | $ (5,105) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
670 Houston TX | Medical office | Operating segment | ||||
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 | 3,681 | |||
Total | 3,999 | |||
Accumulated Depreciation | $ (1,360) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
702 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,414 | |||
Costs Capitalized Subsequent to Acquisition | 1,754 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 7 | |||
Buildings and Improvements | 8,492 | |||
Total | 8,499 | |||
Accumulated Depreciation | $ (2,840) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
1044 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,838 | |||
Costs Capitalized Subsequent to Acquisition | 3,226 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,956 | |||
Total | 7,956 | |||
Accumulated Depreciation | $ (3,189) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2542 Houston TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 304 | |||
Buildings and Improvements | 17,764 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 304 | |||
Buildings and Improvements | 17,764 | |||
Total | 18,068 | |||
Accumulated Depreciation | $ (818) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2543 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 116 | |||
Buildings and Improvements | 6,555 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 116 | |||
Buildings and Improvements | 6,555 | |||
Total | 6,671 | |||
Accumulated Depreciation | $ (357) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2544 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 312 | |||
Buildings and Improvements | 12,094 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 312 | |||
Buildings and Improvements | 12,094 | |||
Total | 12,406 | |||
Accumulated Depreciation | $ (663) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2545 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 316 | |||
Buildings and Improvements | 13,931 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 316 | |||
Buildings and Improvements | 13,931 | |||
Total | 14,247 | |||
Accumulated Depreciation | $ (582) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2546 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 408 | |||
Buildings and Improvements | 18,332 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 408 | |||
Buildings and Improvements | 18,332 | |||
Total | 18,740 | |||
Accumulated Depreciation | $ (1,202) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2547 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 470 | |||
Buildings and Improvements | 18,197 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 470 | |||
Buildings and Improvements | 18,197 | |||
Total | 18,667 | |||
Accumulated Depreciation | $ (1,011) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2548 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 313 | |||
Buildings and Improvements | 7,036 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 313 | |||
Buildings and Improvements | 7,036 | |||
Total | 7,349 | |||
Accumulated Depreciation | $ (500) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2549 Houston Tx | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 530 | |||
Buildings and Improvements | 22,711 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 530 | |||
Buildings and Improvements | 22,711 | |||
Total | 23,241 | |||
Accumulated Depreciation | $ (836) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
590 Irving TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 828 | |||
Buildings and Improvements | 6,160 | |||
Costs Capitalized Subsequent to Acquisition | 2,652 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 828 | |||
Buildings and Improvements | 8,541 | |||
Total | 9,369 | |||
Accumulated Depreciation | $ (3,009) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
700 Irving TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,550 | |||
Costs Capitalized Subsequent to Acquisition | 3,363 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,381 | |||
Total | 11,381 | |||
Accumulated Depreciation | $ (4,472) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
1202 Irving TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,604 | |||
Buildings and Improvements | 16,107 | |||
Costs Capitalized Subsequent to Acquisition | 1,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,633 | |||
Buildings and Improvements | 16,992 | |||
Total | 18,625 | |||
Accumulated Depreciation | $ (4,537) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1207 Irving TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,955 | |||
Buildings and Improvements | 12,793 | |||
Costs Capitalized Subsequent to Acquisition | 1,716 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,986 | |||
Buildings and Improvements | 14,466 | |||
Total | 16,452 | |||
Accumulated Depreciation | $ (3,998) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2613 Kingwood TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,035 | |||
Buildings and Improvements | 32,388 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,035 | |||
Buildings and Improvements | 32,388 | |||
Total | 35,423 | |||
Accumulated Depreciation | $ (275) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
1062 Lancaster TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 172 | |||
Buildings and Improvements | 2,692 | |||
Costs Capitalized Subsequent to Acquisition | 1,119 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 185 | |||
Buildings and Improvements | 3,733 | |||
Total | 3,918 | |||
Accumulated Depreciation | $ (1,356) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
2195 Lancaster TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
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 | $ (282) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 39 years | |||
591 Lewisville TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 561 | |||
Buildings and Improvements | 8,043 | |||
Costs Capitalized Subsequent to Acquisition | 1,544 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 561 | |||
Buildings and Improvements | 9,398 | |||
Total | 9,959 | |||
Accumulated Depreciation | $ (3,090) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
144 Longview TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 102 | |||
Buildings and Improvements | 7,998 | |||
Costs Capitalized Subsequent to Acquisition | 665 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 102 | |||
Buildings and Improvements | 8,220 | |||
Total | 8,322 | |||
Accumulated Depreciation | $ (4,055) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
143 Lufkin TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 338 | |||
Buildings and Improvements | 2,383 | |||
Costs Capitalized Subsequent to Acquisition | 73 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 338 | |||
Buildings and Improvements | 2,416 | |||
Total | 2,754 | |||
Accumulated Depreciation | $ (1,174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
568 McKinney TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 541 | |||
Buildings and Improvements | 6,217 | |||
Costs Capitalized Subsequent to Acquisition | 1,636 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 541 | |||
Buildings and Improvements | 7,160 | |||
Total | 7,701 | |||
Accumulated Depreciation | $ (2,489) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
569 McKinney TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 636 | |||
Costs Capitalized Subsequent to Acquisition | 8,082 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 8,012 | |||
Total | 8,012 | |||
Accumulated Depreciation | $ (2,565) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1079 Nassau Bay TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 8,942 | |||
Costs Capitalized Subsequent to Acquisition | 1,198 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,006 | |||
Total | 10,006 | |||
Accumulated Depreciation | $ (2,915) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
596 N Richland Hills TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 812 | |||
Buildings and Improvements | 8,883 | |||
Costs Capitalized Subsequent to Acquisition | 2,654 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 812 | |||
Buildings and Improvements | 11,114 | |||
Total | 11,926 | |||
Accumulated Depreciation | $ (3,453) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2048 North Richland Hills TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,385 | |||
Buildings and Improvements | 10,213 | |||
Costs Capitalized Subsequent to Acquisition | 2,105 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,400 | |||
Buildings and Improvements | 12,304 | |||
Total | 13,704 | |||
Accumulated Depreciation | $ (2,188) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1048 Pearland TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 4,014 | |||
Costs Capitalized Subsequent to Acquisition | 4,226 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 7,835 | |||
Total | 7,835 | |||
Accumulated Depreciation | $ (2,686) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2232 Pearland TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 3,375 | |||
Costs Capitalized Subsequent to Acquisition | 11,932 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 15,306 | |||
Total | 15,306 | |||
Accumulated Depreciation | (263) | |||
447 Plano TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,700 | |||
Buildings and Improvements | 7,810 | |||
Costs Capitalized Subsequent to Acquisition | 6,310 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,791 | |||
Buildings and Improvements | 13,325 | |||
Total | 15,116 | |||
Accumulated Depreciation | $ (5,751) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
597 Plano TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,210 | |||
Buildings and Improvements | 9,588 | |||
Costs Capitalized Subsequent to Acquisition | 3,884 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,210 | |||
Buildings and Improvements | 12,500 | |||
Total | 13,710 | |||
Accumulated Depreciation | $ (4,049) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
672 Plano TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,389 | |||
Buildings and Improvements | 12,768 | |||
Costs Capitalized Subsequent to Acquisition | 2,445 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,389 | |||
Buildings and Improvements | 13,916 | |||
Total | 15,305 | |||
Accumulated Depreciation | $ (4,025) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
1284 Plano TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,049 | |||
Buildings and Improvements | 18,793 | |||
Costs Capitalized Subsequent to Acquisition | 2,198 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,101 | |||
Buildings and Improvements | 18,779 | |||
Total | 20,880 | |||
Accumulated Depreciation | $ (6,705) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1286 Plano TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,300 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,300 | |||
Total | 3,300 | |||
815 San Antonio TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | 9,193 | |||
Costs Capitalized Subsequent to Acquisition | 1,663 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 12 | |||
Buildings and Improvements | 10,185 | |||
Total | 10,197 | |||
Accumulated Depreciation | $ (3,237) | |||
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 | $ 3,622 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 8,699 | |||
Costs Capitalized Subsequent to Acquisition | 2,822 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 174 | |||
Buildings and Improvements | 10,739 | |||
Total | 10,913 | |||
Accumulated Depreciation | $ (3,371) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1591 San Antonio TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 7,309 | |||
Costs Capitalized Subsequent to Acquisition | 562 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 12 | |||
Buildings and Improvements | 7,860 | |||
Total | 7,872 | |||
Accumulated Depreciation | $ (1,780) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
1977 San Antonio TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 26,191 | |||
Costs Capitalized Subsequent to Acquisition | 1,141 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 27,087 | |||
Total | 27,087 | |||
Accumulated Depreciation | $ (5,616) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
2559 Shenandoah TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Costs Capitalized Subsequent to Acquisition | $ 19,550 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,550 | |||
Total | 19,550 | |||
598 Sugarland TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,078 | |||
Buildings and Improvements | 5,158 | |||
Costs Capitalized Subsequent to Acquisition | 2,581 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,170 | |||
Buildings and Improvements | 7,130 | |||
Total | 8,300 | |||
Accumulated Depreciation | $ (2,538) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 34 years | |||
599 Texas City TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 9,519 | |||
Costs Capitalized Subsequent to Acquisition | 157 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 9,676 | |||
Total | 9,676 | |||
Accumulated Depreciation | $ (2,763) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
152 Victoria TX | Medical office | Operating segment | ||||
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 | $ (4,580) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
2550 The Woodlands TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 115 | |||
Buildings and Improvements | 5,141 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 115 | |||
Buildings and Improvements | 5,141 | |||
Total | 5,256 | |||
Accumulated Depreciation | $ (242) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2551 The Woodlands TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 296 | |||
Buildings and Improvements | 18,282 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 296 | |||
Buildings and Improvements | 18,282 | |||
Total | 18,578 | |||
Accumulated Depreciation | $ (741) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2552 The Woodlands TX | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 374 | |||
Buildings and Improvements | 25,125 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 374 | |||
Buildings and Improvements | 25,125 | |||
Total | 25,499 | |||
Accumulated Depreciation | $ (908) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1592 Bountiful UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 999 | |||
Buildings and Improvements | 7,426 | |||
Costs Capitalized Subsequent to Acquisition | 470 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 999 | |||
Buildings and Improvements | 7,897 | |||
Total | 8,896 | |||
Accumulated Depreciation | $ (1,658) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
169 Bountiful UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 276 | |||
Buildings and Improvements | 5,237 | |||
Costs Capitalized Subsequent to Acquisition | 1,272 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 348 | |||
Buildings and Improvements | 6,052 | |||
Total | 6,400 | |||
Accumulated Depreciation | $ (2,727) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
346 Castle Dale UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 50 | |||
Buildings and Improvements | 1,818 | |||
Costs Capitalized Subsequent to Acquisition | 73 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 50 | |||
Buildings and Improvements | 1,891 | |||
Total | 1,941 | |||
Accumulated Depreciation | $ (994) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
347 Centerville UT | Medical office | Operating segment | ||||
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 | 1,309 | |||
Total | 1,609 | |||
Accumulated Depreciation | $ (666) | |||
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 | $ 5,240 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 10,803 | |||
Costs Capitalized Subsequent to Acquisition | 161 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,964 | |||
Total | 10,964 | |||
Accumulated Depreciation | $ (1,262) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
469 Kaysville UT | Medical office | Operating segment | ||||
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 | $ (1,651) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
456 Layton UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 371 | |||
Buildings and Improvements | 7,073 | |||
Costs Capitalized Subsequent to Acquisition | 1,208 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 389 | |||
Buildings and Improvements | 8,023 | |||
Total | 8,412 | |||
Accumulated Depreciation | $ (3,420) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2042 Layton UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 10,975 | |||
Costs Capitalized Subsequent to Acquisition | 410 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,385 | |||
Total | 11,385 | |||
Accumulated Depreciation | $ (1,181) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
359 Ogden UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 180 | |||
Buildings and Improvements | 1,695 | |||
Costs Capitalized Subsequent to Acquisition | 228 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 180 | |||
Buildings and Improvements | 1,803 | |||
Total | 1,983 | |||
Accumulated Depreciation | $ (906) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1283 Ogden UT | Medical office | Operating segment | ||||
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 | 4,205 | |||
Total | 4,311 | |||
Accumulated Depreciation | $ (4,133) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
357 Orem UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 337 | |||
Buildings and Improvements | 8,744 | |||
Costs Capitalized Subsequent to Acquisition | 1,827 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 306 | |||
Buildings and Improvements | 8,312 | |||
Total | 8,618 | |||
Accumulated Depreciation | $ (4,195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
371 Providence UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 240 | |||
Buildings and Improvements | 3,876 | |||
Costs Capitalized Subsequent to Acquisition | 374 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 282 | |||
Buildings and Improvements | 3,919 | |||
Total | 4,201 | |||
Accumulated Depreciation | $ (1,912) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
353 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 190 | |||
Buildings and Improvements | 779 | |||
Costs Capitalized Subsequent to Acquisition | 164 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 201 | |||
Buildings and Improvements | 921 | |||
Total | 1,122 | |||
Accumulated Depreciation | $ (476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
354 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 220 | |||
Buildings and Improvements | 10,732 | |||
Costs Capitalized Subsequent to Acquisition | 1,856 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 220 | |||
Buildings and Improvements | 12,186 | |||
Total | 12,406 | |||
Accumulated Depreciation | $ (6,249) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
355 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 180 | |||
Buildings and Improvements | 14,792 | |||
Costs Capitalized Subsequent to Acquisition | 2,162 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 180 | |||
Buildings and Improvements | 16,429 | |||
Total | 16,609 | |||
Accumulated Depreciation | $ (8,293) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
467 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,000 | |||
Buildings and Improvements | 7,541 | |||
Costs Capitalized Subsequent to Acquisition | 2,044 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,145 | |||
Buildings and Improvements | 9,091 | |||
Total | 12,236 | |||
Accumulated Depreciation | $ (3,396) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 38 years | |||
566 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 509 | |||
Buildings and Improvements | 4,044 | |||
Costs Capitalized Subsequent to Acquisition | 1,686 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 509 | |||
Buildings and Improvements | 5,317 | |||
Total | 5,826 | |||
Accumulated Depreciation | $ (1,955) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 37 years | |||
2041 Salt Lake City UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,326 | |||
Costs Capitalized Subsequent to Acquisition | 161 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,487 | |||
Total | 12,487 | |||
Accumulated Depreciation | $ (1,353) | |||
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 | 757 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,122 | |||
Buildings and Improvements | 4,015 | |||
Total | 5,137 | |||
Accumulated Depreciation | $ (979) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
482 Stansbury UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 450 | |||
Buildings and Improvements | 3,201 | |||
Costs Capitalized Subsequent to Acquisition | 380 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 450 | |||
Buildings and Improvements | 3,422 | |||
Total | 3,872 | |||
Accumulated Depreciation | $ (1,256) | |||
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 | 2,331 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 17 | |||
Buildings and Improvements | 6,433 | |||
Total | 6,450 | |||
Accumulated Depreciation | $ (3,478) | |||
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 | 1,297 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 15 | |||
Buildings and Improvements | 3,382 | |||
Total | 3,397 | |||
Accumulated Depreciation | $ (1,569) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2034 West Jordan UT | Medical office | Operating segment | ||||
Initial Cost to Company | ||||
Buildings and Improvements | $ 12,021 | |||
Costs Capitalized Subsequent to Acquisition | 56 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 12,077 | |||
Total | 12,077 | |||
Accumulated Depreciation | $ (1,288) | |||
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 | $ 753 | |||
Initial Cost to Company | ||||
Buildings and Improvements | 1,383 | |||
Costs Capitalized Subsequent to Acquisition | 808 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 2,190 | |||
Total | 2,190 | |||
Accumulated Depreciation | $ (424) | |||
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 | $ (4,238) | |||
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 | $ (8,974) | |||
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 | 16,710 | |||
Costs Capitalized Subsequent to Acquisition | 6,594 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 8,494 | |||
Buildings and Improvements | 22,607 | |||
Total | 31,101 | |||
Accumulated Depreciation | $ (7,815) | |||
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 | $ (592) | |||
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 | 575 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 11,827 | |||
Total | 11,827 | |||
Accumulated Depreciation | $ (4,244) | |||
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 | 2,211 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 19,685 | |||
Total | 19,685 | |||
Accumulated Depreciation | $ (9,485) | |||
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 | 15,124 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 63,876 | |||
Total | 63,876 | |||
Accumulated Depreciation | $ (20,187) | |||
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 | 12,330 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 126 | |||
Buildings and Improvements | 34,970 | |||
Total | 35,096 | |||
Accumulated Depreciation | $ (12,005) | |||
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 | 6,633 | |||
Total | 6,816 | |||
Accumulated Depreciation | $ (6,208) | |||
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 | 4,796 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 10,875 | |||
Total | 10,875 | |||
Accumulated Depreciation | $ (3,710) | |||
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 | 3,450 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 48,299 | |||
Total | 48,299 | |||
Accumulated Depreciation | $ (13,505) | |||
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 | 9 | |||
Gross Amount at Which Carried As of Year End | ||||
Buildings and Improvements | 4,610 | |||
Total | 4,610 | |||
Accumulated Depreciation | $ (555) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
126 Sherwood AR | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 709 | |||
Buildings and Improvements | 9,604 | |||
Costs Capitalized Subsequent to Acquisition | 709 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 709 | |||
Buildings and Improvements | 9,587 | |||
Total | 10,296 | |||
Accumulated Depreciation | $ (5,517) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
113 Glendale AZ | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,565 | |||
Buildings and Improvements | 7,050 | |||
Costs Capitalized Subsequent to Acquisition | 1,565 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,565 | |||
Buildings and Improvements | 7,050 | |||
Total | 8,615 | |||
Accumulated Depreciation | $ (4,130) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1038 Fresno CA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,652 | |||
Buildings and Improvements | 29,113 | |||
Costs Capitalized Subsequent to Acquisition | 3,652 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,652 | |||
Buildings and Improvements | 51,048 | |||
Total | 54,700 | |||
Accumulated Depreciation | $ (15,131) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
423 Irvine CA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 18,000 | |||
Buildings and Improvements | 70,800 | |||
Costs Capitalized Subsequent to Acquisition | 18,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 18,000 | |||
Buildings and Improvements | 70,800 | |||
Total | 88,800 | |||
Accumulated Depreciation | $ (34,732) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
127 Colorado Springs CO | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 690 | |||
Buildings and Improvements | 8,338 | |||
Costs Capitalized Subsequent to Acquisition | 690 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 690 | |||
Buildings and Improvements | 8,338 | |||
Total | 9,028 | |||
Accumulated Depreciation | $ (4,780) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
887 Atlanta GA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 4,300 | |||
Buildings and Improvements | 13,690 | |||
Costs Capitalized Subsequent to Acquisition | 4,300 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 4,300 | |||
Buildings and Improvements | 11,890 | |||
Total | 16,190 | |||
Accumulated Depreciation | $ (5,846) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
112 Overland Park KS | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,316 | |||
Buildings and Improvements | 10,681 | |||
Costs Capitalized Subsequent to Acquisition | 2,316 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,316 | |||
Buildings and Improvements | 10,680 | |||
Total | 12,996 | |||
Accumulated Depreciation | $ (6,481) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 45 years | |||
1383 Baton Rouge LA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 690 | |||
Buildings and Improvements | 8,545 | |||
Costs Capitalized Subsequent to Acquisition | 690 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 690 | |||
Buildings and Improvements | 8,496 | |||
Total | 9,186 | |||
Accumulated Depreciation | $ (3,621) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
2031 Slidell LA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 3,000 | |||
Costs Capitalized Subsequent to Acquisition | 3,000 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 3,000 | |||
Buildings and Improvements | 643 | |||
Total | 3,643 | |||
886 Dallas TX | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | 1,820 | |||
Buildings and Improvements | 8,508 | |||
Costs Capitalized Subsequent to Acquisition | 1,820 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,820 | |||
Buildings and Improvements | 7,454 | |||
Total | 9,274 | |||
Accumulated Depreciation | $ (1,832) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
1319 Dallas TX | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 18,840 | |||
Buildings and Improvements | 155,659 | |||
Costs Capitalized Subsequent to Acquisition | 18,840 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 18,840 | |||
Buildings and Improvements | 157,084 | |||
Total | 175,924 | |||
Accumulated Depreciation | $ (43,809) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1384 Plano TX | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 6,290 | |||
Buildings and Improvements | 22,686 | |||
Costs Capitalized Subsequent to Acquisition | 6,290 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 6,290 | |||
Buildings and Improvements | 28,202 | |||
Total | 34,492 | |||
Accumulated Depreciation | $ (11,476) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 25 years | |||
2198 Webster TX | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 2,220 | |||
Buildings and Improvements | 9,602 | |||
Costs Capitalized Subsequent to Acquisition | 2,220 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 2,220 | |||
Buildings and Improvements | 9,602 | |||
Total | 11,822 | |||
Accumulated Depreciation | $ (1,415) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
2469 Rural Retreat VA | Other | Operating segment | ||||
Initial Cost to Company | ||||
Land | $ 1,876 | |||
Buildings and Improvements | 14,720 | |||
Costs Capitalized Subsequent to Acquisition | 1,876 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,876 | |||
Buildings and Improvements | 14,720 | |||
Total | 16,596 | |||
Accumulated Depreciation | $ (509) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 35 years | |||
1959 East Providence RI | Senior housing | Operating segment | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances as of Year end | $ 14,186 | |||
Initial Cost to Company | ||||
Land | 1,890 | |||
Buildings and Improvements | 13,989 | |||
Costs Capitalized Subsequent to Acquisition | 1,890 | |||
Gross Amount at Which Carried As of Year End | ||||
Land | 1,890 | |||
Buildings and Improvements | 15,057 | |||
Total | 16,947 | |||
Accumulated Depreciation | $ (3,439) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years |
Schedule III - Real Estate an96
Schedule III - Real Estate and Accumulated Depreciation - Amount that Tax Basis of Net Real Estate Assets Less Than the Reported Amounts (Details) $ in Millions | 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 | $ 1,200 |
Schedule III - Real Estate an97
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, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Real estate: | |||
Balances at beginning of year | $ 14,330,257 | $ 12,931,832 | $ 12,592,841 |
Acquisition of real estate and development and improvements | 987,135 | 1,930,931 | 756,043 |
Disposition of real estate | (577,799) | (121,374) | (169,311) |
Impairments | (3,118) | ||
Balances associated with changes in reporting presentation | (764,833) | (408,014) | (247,741) |
Balances at end of year | 13,974,760 | 14,330,257 | 12,931,832 |
Accumulated depreciation: | |||
Balances at beginning of year | 2,476,015 | 2,190,486 | 1,965,592 |
Depreciation expense | 465,945 | 418,591 | 384,019 |
Disposition of real estate | (109,949) | (17,251) | (55,745) |
Balances associated with changes in reporting presentation | (183,081) | (115,811) | (103,380) |
Balances at end of year | $ 2,648,930 | $ 2,476,015 | $ 2,190,486 |