Healthpeak Properties (DOC) 10-K 14 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Feb. 11, 2019	Jun. 30, 2018
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, 2018
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 Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Public Float			$ 8.7
Entity Common Stock, Shares Outstanding		477,771,756
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Real estate:
Buildings and improvements	$ 10,877,248	$ 11,239,732
Development costs and construction in progress	537,643	447,976
Land	1,637,506	1,785,865
Accumulated depreciation and amortization	(2,842,947)	(2,741,695)
Net real estate	10,209,450	10,731,878
Net investment in direct financing leases	713,818	714,352
Loans receivable, net	62,998	313,326
Investments in and advances to unconsolidated joint ventures	540,088	800,840
Accounts receivable, net of allowance of $5,127 and $4,425, respectively	48,171	40,733
Cash and cash equivalents	110,790	55,306
Restricted cash	29,056	26,897
Intangible assets, net	305,079	410,082
Assets held for sale, net	108,086	417,014
Other assets, net	591,017	578,033
Total assets	12,718,553	14,088,461
LIABILITIES AND EQUITY
Bank line of credit	80,103	1,017,076
Term loan	0	228,288
Senior unsecured notes	5,258,550	6,396,451
Mortgage debt	138,470	144,486
Other debt	90,785	94,165
Intangible liabilities, net	54,663	52,579
Liabilities of assets held for sale, net	1,125	14,031
Accounts payable and accrued liabilities	391,583	401,738
Deferred revenue	190,683	144,709
Total liabilities	6,205,962	8,493,523
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 477,496,499 and 469,435,678 shares issued and outstanding, respectively	477,496	469,436
Additional paid-in capital	8,398,847	8,226,113
Cumulative dividends in excess of earnings	(2,927,196)	(3,370,520)
Accumulated other comprehensive income (loss)	(4,708)	(24,024)
Total stockholders' equity	5,944,439	5,301,005
Joint venture partners	391,401	117,045
Non-managing member unitholders	176,751	176,888
Total noncontrolling interests	568,152	293,933
Total equity	6,512,591	5,594,938
Total liabilities and equity	$ 12,718,553	$ 14,088,461

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance, in dollars	$ 5,127	$ 4,425
Common stock, par value, in dollars per share	$ 1	$ 1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	477,496,499	469,435,678
Common stock, shares outstanding	477,496,499	469,435,678

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Income from direct financing leases	$ 54,274,000	$ 54,217,000	$ 59,580,000
Interest income	10,406,000	56,237,000	88,808,000
Revenues	1,846,689,000	1,848,378,000	2,129,294,000
Costs and expenses:
Interest expense	266,343,000	307,716,000	464,403,000
Depreciation and amortization	549,499,000	534,726,000	568,108,000
Operating	705,038,000	666,251,000	738,399,000
General and administrative	96,702,000	88,772,000	103,611,000
Transaction costs	10,772,000	7,963,000	9,821,000
Impairments (recoveries), net	55,260,000	166,384,000	0
Total costs and expenses	1,683,614,000	1,771,812,000	1,884,342,000
Other income (expense):
Gain (loss) on sales of real estate, net	925,985,000	356,641,000	164,698,000
Loss on debt extinguishments	(44,162,000)	(54,227,000)	(46,020,000)
Other income (expense), net	13,316,000	31,420,000	3,654,000
Total other income (expense), net	895,139,000	333,834,000	122,332,000
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	1,058,214,000	410,400,000	367,284,000
Income tax benefit (expense)	17,854,000	1,333,000	(4,473,000)
Equity income (loss) from unconsolidated joint ventures	(2,594,000)	10,901,000	11,360,000
Income (loss) from continuing operations	1,073,474,000	422,634,000	374,171,000
Discontinued operations:
Income before transaction costs and income taxes	0	0	400,701,000
Transaction costs	0	0	(86,765,000)
Income tax benefit (expense)	0	0	(48,181,000)
Total discontinued operations	0	0	265,755,000
Net income (loss)	1,073,474,000	422,634,000	639,926,000
Noncontrolling interests' share in earnings	(12,381,000)	(8,465,000)	(12,179,000)
Net income (loss) attributable to HCP, Inc.	1,061,093,000	414,169,000	627,747,000
Participating securities' share in earnings	(2,669,000)	(1,156,000)	(1,198,000)
Net income (loss) applicable to common shares	$ 1,058,424,000	$ 413,013,000	$ 626,549,000
Basic earnings per common share:
Continuing operations (in dollars per share)	$ 2.25	$ 0.88	$ 0.77
Discontinued operations (in dollars per share)	0	0	0.57
Net income (loss) applicable to common shares (in dollars per share)	2.25	0.88	1.34
Diluted earnings per common share:
Continuing operations (in dollars per share)	2.24	0.88	0.77
Discontinued operations (in dollars per share)	0	0	0.57
Net income (loss) applicable to common shares (in dollars per share)	$ 2.24	$ 0.88	$ 1.34
Weighted average shares outstanding:
Basic (in shares)	470,551	468,759	467,195
Diluted (in shares)	475,387	468,935	467,403
Rental and related revenues
Revenues:
Rental and related revenues and resident fees and services	$ 1,237,236,000	$ 1,213,649,000	$ 1,294,071,000
Resident fees
Revenues:
Rental and related revenues and resident fees and services	$ 544,773,000	$ 524,275,000	$ 686,835,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,073,474	$ 422,634	$ 639,926
Other comprehensive income (loss):
Net unrealized gains (losses) on derivatives	6,025	(11,107)	3,233
Reclassification adjustment realized in net income (loss)	18,088	799	707
Change in Supplemental Executive Retirement Plan obligation and other	561	64	220
Foreign currency translation adjustment	(5,358)	15,862	(3,332)
Total other comprehensive income (loss)	19,316	5,618	828
Total comprehensive income (loss)	1,092,790	428,252	640,754
Total comprehensive income (loss) attributable to noncontrolling interests	(12,381)	(8,465)	(12,179)
Total comprehensive income (loss) attributable to HCP, Inc.	$ 1,080,409	$ 419,787	$ 628,575

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock	Additional Paid-In Capital	Cumulative Dividends In Excess Of Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders’ Equity	Noncontrolling Interests
Balance at Dec. 31, 2015		$ 9,746,317	$ 465,488	$ 11,647,039	$ (2,738,414)	$ (30,470)	$ 9,343,643	$ 402,674
Balance (in shares) at Dec. 31, 2015			465,488
Increase (Decrease) in Stockholders' Equity
Net income (loss)		639,926			627,747		627,747	12,179
Other comprehensive income (loss)		828				828	828
Issuance of common stock, net		64,177	$ 2,552	61,625			64,177	0
Issuance of common stock, net (in shares)			2,552
Conversion of DownREIT units to common stock		0	$ 145	5,948			6,093	(6,093)
Conversion of DownREIT units to common stock (in shares)			145
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		(26,347)		(36)			(36)	(26,311)
Issuances of noncontrolling interests		11,834						11,834
Deconsolidation of noncontrolling interests		506		(36)	475		439	67
Purchase of noncontrolling interests		(1,300)		(663)			(663)	(637)
Balance at Dec. 31, 2016		5,941,308	$ 468,081	8,198,890	(3,089,734)	(29,642)	5,547,595	393,713
Balance (in shares) at Dec. 31, 2016			468,081
Increase (Decrease) in Stockholders' Equity
Net income (loss)		422,634			414,169		414,169	8,465
Other comprehensive income (loss)		5,618				5,618	5,618
Issuance of common stock, net		27,353	$ 1,402	25,951			27,353
Issuance of common stock, net (in shares)			1,402
Conversion of DownREIT units to common stock		0	$ 78	2,411			2,489	(2,489)
Conversion of DownREIT units to common stock (in shares)			78
Repurchase of common stock		(4,785)	$ (157)	(4,628)			(4,785)
Repurchase of common stock (in shares)			(157)
Exercise of stock options		768	$ 32	736			768
Exercise of stock options (in shares)			32
Amortization of deferred compensation		14,258		14,258			14,258
Common dividends		(694,955)			(694,955)		(694,955)
Distributions to noncontrolling interests		(26,129)						(26,129)
Issuances of noncontrolling interests		1,615						1,615
Deconsolidation of noncontrolling interests		(58,062)						(58,062)
Purchase of noncontrolling interests		(34,685)		(11,505)			(11,505)	(23,180)
Balance at Dec. 31, 2017		5,594,938	$ 469,436	8,226,113	(3,370,520)	(24,024)	5,301,005	293,933
Balance (in shares) at Dec. 31, 2017			469,436
Increase (Decrease) in Stockholders' Equity
Impact of adoption of ASU No. 2017-05	[1]	79,144			79,144		79,144
Adjusted balance		5,674,082	$ 469,436	8,226,113	(3,291,376)	(24,024)	5,380,149	293,933
Net income (loss)		1,073,474			1,061,093		1,061,093	12,381
Other comprehensive income (loss)		19,316				19,316	19,316
Issuance of common stock, net		215,179	$ 8,078	207,101			215,179
Issuance of common stock, net (in shares)			8,078
Conversion of DownREIT units to common stock		0	$ 3	133			136	$ (136)
Conversion of DownREIT units to common stock (in shares)			3					7,000
Repurchase of common stock		(3,432)	$ (141)	(3,291)			(3,432)
Repurchase of common stock (in shares)			(141)
Exercise of stock options		2,477	$ 120	2,357			2,477
Exercise of stock options (in shares)			120
Amortization of deferred compensation		16,563		16,563			16,563
Common dividends		(696,913)			(696,913)		(696,913)
Distributions to noncontrolling interests		(18,415)						$ (18,415)
Issuances of noncontrolling interests		299,666						299,666
Purchase of noncontrolling interests		(69,406)		(50,129)			(50,129)	(19,277)
Balance at Dec. 31, 2018		$ 6,512,591	$ 477,496	$ 8,398,847	$ (2,927,196)	$ (4,708)	$ 5,944,439	$ 568,152
Balance (in shares) at Dec. 31, 2018			477,496
[1]	On January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) No. 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”), and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Common dividends, per share (in dollars per share)	$ 1.48	$ 1.480	$ 2.095

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ 1,073,474	$ 422,634	$ 639,926
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	549,499	534,726	568,108
Depreciation and amortization of real estate, in-place lease and other intangibles: Discontinued operations	0	0	4,890
Amortization of deferred compensation	16,563	14,258	22,884
Amortization of deferred financing costs	12,612	14,569	20,014
Straight-line rents	(23,138)	(23,933)	(18,003)
Equity loss (income) from unconsolidated joint ventures	2,594	(10,901)	(11,360)
Distributions of earnings from unconsolidated joint ventures	22,467	44,142	26,492
Lease and management fee termination loss (income), net	0	54,641	0
Deferred income tax expense (benefit)	(18,525)	(5,523)	47,195
Impairments (recoveries), net	55,260	166,384	0
Loss on extinguishment of debt	44,162	54,227	46,020
Loss (gain) on sales of real estate, net	(925,985)	(356,641)	(164,698)
Loss (gain) on consolidation, net	(9,154)	0	0
Casualty-related loss (recoveries), net	0	12,053	0
Loss (gain) on sale of marketable securities	0	(50,895)	0
Other non-cash items	2,569	(2,735)	(2,369)
Decrease (increase) in accounts receivable and other assets, net	5,686	(24,782)	(6,992)
Increase (decrease) in accounts payable and accrued liabilities	40,625	4,817	42,024
Net cash provided by (used in) operating activities	848,709	847,041	1,214,131
Cash flows from investing activities:
Acquisitions of other real estate	(426,080)	(560,753)	(467,162)
Development and redevelopment of real estate	(503,643)	(373,479)	(421,322)
Leasing costs, tenant improvements, and recurring capital expenditures	(106,193)	(115,260)	(91,442)
Proceeds from sales of real estate, net	2,044,477	1,314,325	647,754
Contributions to unconsolidated joint ventures	(12,203)	(46,334)	(10,186)
Distributions in excess of earnings from unconsolidated joint ventures	26,472	37,023	28,366
Proceeds from the RIDEA II transaction, net	335,709	462,242	0
Proceeds from the U.K. JV transaction, net	393,997	0	0
Proceeds from sales/principal repayments on debt investments and direct financing leases	148,024	558,769	231,990
Investments in loans receivable, direct financing leases and other	(71,281)	(30,276)	(273,693)
Purchase of securities for debt defeasance	0	0	(73,278)
Net cash provided by (used in) investing activities	1,829,279	1,246,257	(428,973)
Cash flows from financing activities:
Borrowings under bank line of credit, net	1,823,000	1,244,189	1,108,417
Repayments under bank line of credit	(2,755,668)	(1,150,596)	(540,000)
Proceeds related to QCP Spin-Off, net	0	0	1,685,172
Issuance and borrowings of debt, excluding bank line of credit	223,587	5,395	0
Repayments and repurchase of debt, excluding bank line of credit	(1,604,026)	(1,468,446)	(2,316,774)
Payments for debt extinguishment and deferred financing costs	(41,552)	(51,415)	(54,856)
Issuance of common stock and exercise of options	217,656	28,121	67,650
Repurchase of common stock	(3,432)	(4,785)	(8,685)
Dividends paid on common stock	(696,913)	(694,955)	(979,542)
Issuance of noncontrolling interests	299,666	1,615	11,834
Distributions to and purchase of noncontrolling interests	(82,854)	(57,584)	(27,481)
Net cash provided by (used in) financing activities	(2,620,536)	(2,148,461)	(1,054,265)
Effect of foreign exchanges on cash, cash equivalents and restricted cash	191	376	(1,019)
Net increase (decrease) in cash, cash equivalents and restricted cash	57,643	(54,787)	(270,126)
Cash, cash equivalents and restricted cash, beginning of year	82,203	136,990	407,116
Cash, cash equivalents and restricted cash, end of year	$ 139,846	$ 82,203	$ 136,990

Business

Business	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	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, and manages and disposes of healthcare real estate. The Company’s diverse portfolio is comprised of investments in the following reportable healthcare segments: (i) senior housing triple-net, (ii) senior housing operating portfolio (“SHOP”), (iii) life science and (iv) medical office.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 revenues 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 variable interest entity (“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. Criterion (iii) above is generally applied to limited partnerships and similarly structured entities by assessing whether a simple majority of the limited partners hold substantive rights to participate in the significant decisions of the entity or have the ability to remove the decision maker or liquidate the entity without cause. If neither of those criteria are met, the entity is a VIE. The designation of an entity as a VIE should be reassessed upon certain events, including, but not limited to: (i) a change to the terms or in the ability of a party to exercise its participation of kick-out rights, (ii) a change to the capitalization structure of the entity, or (iii) acquisitions or sales of interests that constitute a change in control. 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 VIE 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 include, 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, its ability to manage its ownership interest relative to the other interest holders, 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 by the majority interest holder. The assessment of limited partners’ rights and their impact on the control of a joint venture should be made at inception of the joint venture and continually reassessed. Revenue Recognition Lease Classification At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses the terms and conditions to determine the proper lease classification. For leases entered into prior to January 1, 2019, 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”). Concurrent with the Company's adoption of Accounting Standards Update ("ASU") No. 2016-02, Leases (“ASU 2016-02”) on January 1, 2019, the Company will begin classifying a lease entered into subsequent to adoption as an operating lease if none of the following criteria are met: (i) transfer of ownership to the lessee by the end of the lease term, (ii) lessee has a purchase option during or at the end of the lease term that it is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic life of the underlying asset, (iv) the present value of future minimum lease payments is equal to substantially all of the fair value of the underlying asset, or (v) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term. Rental and Related Revenues 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 complete. 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; • if the tenant improvements are expected to have significant residual value at the end of the lease term; • the responsible party for construction cost overruns; and • which party constructs or directs the construction of the improvements. 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 in rental and related revenues, 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 Fees and Services 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, in advance. Revenue for certain care related services is recognized as services are provided and is billed monthly in arrears. Income from Direct Financing Leases 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. Interest Income 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 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. Gain (loss) on sales of real estate, net The Company recognizes a gain (loss) on sale of real estate when the criteria for an asset to be derecognized are met, which include when: (i) a contract exists, (ii) the buyer obtains control of the asset, and (iii) it is probable that the Company will receive substantially all of the consideration to which it is entitled. These criteria are generally satisfied at the time of sale. 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 acquisitions are generally classified as asset acquisitions for which the Company records identifiable assets acquired, liabilities assumed and any associated noncontrolling interests at cost on a relative fair value basis. In addition, for such asset acquisitions, no goodwill is recognized, third party transaction costs are capitalized and any associated contingent consideration is generally recorded when the contingency is resolved. 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 such 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. 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. Concurrent with the Company's adoption of ASU 2016-02 on January 1, 2019, the Company elected to recognize expense associated with short-term leases (those with a noncancellable lease term of 12 months or less) under which the Company is the lessee on a straight-line basis and not recognize those leases on its consolidated balance sheets. For leases other than short-term operating leases under which the Company is the lessee, such as ground leases and corporate office leases, the Company recognizes a right-of-use asset and related lease liability on its consolidated balance sheet at inception of the lease. The lease liability is calculated as the sum of: (i) the present value of minimum lease payments at lease commencement (discounted using the Company's secured incremental borrowing rate) and (ii) the present value of amounts probable of being paid under any residual value guarantees. The right-of-use asset is calculated as the lease liability, adjusted for the following: (i) any lease payments made to the lessor at or before the commencement date, minus any lease incentives received and (ii) any initial direct costs incurred by the Company. 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 reflect external market factors and are probability-weighted to reflect multiple possible cash-flow scenarios, including selling the assets at various points in the future. Further, the analysis considers the impact, if any, of master lease agreements on cash flows, which 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 exceeds 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. When testing goodwill for impairment, if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company recognizes an impairment loss for the amount by which the carrying value, including goodwill, exceeds the reporting unit’s fair value. Assets Held for Sale and Discontinued Operations The Company classifies a real estate property as held for sale when: (i) management has approved the disposal, (ii) the property is available for sale in its present condition, (iii) an active program to locate a buyer has been initiated, (iv) it is probable that the property will be disposed of within one year, (v) the property is being marketed at a reasonable price relative to its fair value, and (vi) it is unlikely that the disposal plan will significantly change or be withdrawn. A discontinued operation represents: (i) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on the Company’s operations and financial results or (ii) an acquired business that is classified as held for sale on the date of acquisition. Examples of a strategic shift include disposing of: (i) a separate major line of business, (ii) a separate major geographic area of operations, or (iii) other major parts of the Company. 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, the fair value of assets contributed to the joint venture, 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. The Company did not record any impairments of its investments in unconsolidated joint ventures in the statements of operations for the years ended December 31, 2018 , 2017 or 2016 . Share-Based Compensation Compensation expense for share-based awards granted to employees 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 and Restricted Cash 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 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 unconsolidated 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). 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. has 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 generally 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 that 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 federal, state and local 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. 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 effective interest method. Debt issuance costs related to line of credit arrangements are deferred, included in other assets, and amortized to interest expense on a straight-line basis over the remaining term of the related line of credit arrangement. 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) senior housing triple-net, (ii) SHOP, (iii) life science and (iv) medical office. Noncontrolling Interests Arrangements with noncontrolling interest holders are assessed for appropriate balance sheet classification based on the redemption and other rights held by the noncontrolling interest holder. Net income (loss) attributable to a noncontrolling interest is included in net income (loss) 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 l

Master Transactions and Coopera

Master Transactions and Cooperation Agreement with Brookdale	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Master Transaction and Cooperation Agreement with Brookdale	Master Transactions and Cooperation Agreement with Brookdale Master Transactions and Cooperation Agreement with Brookdale In November 2017, the Company and Brookdale Senior Living Inc. (“Brookdale”) entered into a Master Transactions and Cooperation Agreement (the “MTCA”) to provide the Company with the ability to significantly reduce its concentration of assets leased to and/or managed by Brookdale (the “Brookdale Transactions”). In connection with the overall transaction pursuant to the MTCA, the Company and Brookdale, and certain of their respective subsidiaries, agreed to the following: • The Company, which owned 90% of the interests in its RIDEA I and RIDEA III joint ventures with Brookdale at the time the MTCA was executed, agreed to purchase Brookdale’s 10% noncontrolling interest in each joint venture for an aggregate purchase price of $95 million . At the time the MTCA was executed, these joint ventures collectively owned and operated 58 independent living, assisted living, memory care and/or skilled nursing facilities (the “RIDEA Facilities”). The Company completed its acquisitions of the RIDEA III noncontrolling interest for $32 million in December 2017 and the RIDEA I noncontrolling interest for $63 million in March 2018; • The Company received the right to sell, or transition to other operators, 32 of the 78 total assets under an Amended and Restated Master Lease and Security Agreement (the “Amended Master Lease”) with Brookdale and 36 of the RIDEA Facilities (and terminate related management agreements with an affiliate of Brookdale without penalty); • The Company provided an aggregate $5 million annual reduction in rent on three assets, effective January 1, 2018; and • Brookdale agreed to purchase two of the assets under the Amended Master Lease for $35 million , both of which were sold in April 2018, and four of the RIDEA Facilities for $240 million , one of which was sold in January 2018 for $32 million and the remaining three of which were sold in April 2018 for $208 million . During the fourth quarter of 2018, the Company sold 19 assets ( 11 of the 32 senior housing triple-net assets noted above and eight RIDEA Facilities) to a third-party buyer for $377 million . Additionally, during the year ended December 31, 2018, the Company terminated the previous management agreements or leases with Brookdale on 37 assets contemplated under the MTCA and completed the transition of 20 SHOP assets and 17 senior housing triple-net assets to other managers. Fair Value Measurement Techniques and Quantitative Information During the fourth quarter of 2017, the Company performed a fair value assessment of each of the MTCA components that provided measurable economic benefit or detriment to the Company. Each fair value calculation is based on an income or market approach and relies on historical and forecasted EBITDAR (defined as earnings before interest, taxes, depreciation, amortization and rent) and revenue, as well as market data, including, but not limited to, a discount rate of 12% , a management fee rate of 5% of revenue, EBITDAR growth rates ranging from zero to 3% , and real estate capitalization rates ranging from 6% to 7% . All assumptions are supported by independent market data and considered to be Level 2 measurements within the fair value hierarchy. As a result of the assessment, the Company recognized a $20 million net reduction of rental and related revenues related to the right to terminate leases for 32 triple-net assets and the write-off of unamortized lease intangible assets related to those same 32 triple-net assets during the year ended December 31, 2017. Additionally, the Company recognized $35 million of operating expenses related to the right to terminate management agreements for 36 SHOP assets during the year ended December 31, 2017.

Other Real Estate Property Inve

Other Real Estate Property Investments	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Other Real Estate Property Investments	Other Real Estate Property Investments MSREI MOB JV In August 2018, the Company and Morgan Stanley Real Estate Investment (“MSREI”) formed a joint venture (the “MSREI JV”) to own a portfolio of medical office buildings ("MOBs"), which the Company owns 51% of and consolidates. To form the joint venture, MSREI contributed cash of $298 million and HCP contributed nine wholly-owned MOBs (the “Contributed Assets”). The Contributed Assets are primarily located in Texas and Florida and were valued at approximately $320 million at the time of contribution. The MSREI JV used substantially all of the cash contributed by MSREI to acquire an additional portfolio of 16 MOBs in Greenville, South Carolina (the “Greenville Portfolio”) for $285 million . Concurrent with acquiring the additional MOBs, the MSREI JV entered into 10 -year leases with an anchor tenant on each MOB in the Greenville Portfolio. The Contributed Assets are accounted for at historical depreciated cost by the Company, as the assets continue to be consolidated. The Greenville Portfolio is accounted for as an asset acquisition, which requires the Company to record the individual components of the acquisition at each component’s relative fair value. As a result, the Company recorded net real estate of $276 million and net intangible assets of $20 million during the year ended December 31, 2018 related to the Greenville Portfolio. Additionally, the Company recognized a noncontrolling interest of $298 million related to the interest owned by MSREI. Refer to Note 19 for a discussion of the Company’s consolidation of the MSREI JV. Life Science JV Interest Purchase In November 2018, the Company acquired the outstanding equity interests in three life science joint ventures (which owned four buildings) for $92 million , bringing the Company’s equity ownership to 100% for all three joint ventures. As the Company began consolidating the assets upon acquisition, it derecognized the existing investment in the joint ventures, marked the real estate to fair value (using a relative fair value allocation), and recognized a gain on consolidation of $50 million within other income (expense), net. Sierra Point Towers Acquisition In November 2018, the Company entered into definitive agreements to acquire two life science buildings in South San Francisco, California adjacent to the Company’s The Shore at Sierra Point development, for $245 million . The Company made a $15 million nonrefundable deposit upon completing due diligence and expects to close the transaction in the first half of 2019. Other Real Estate Acquisitions During the year ended December 31, 2018, the Company acquired development rights on a land parcel in the Boston suburb of Lexington, Massachusetts for $21 million . The Company commenced a life science development on the land in 2018. Additionally, in January and February 2019, the Company acquired a life science facility for $71 million and development rights at an adjacent undeveloped land parcel for consideration of up to $27 million . The existing facility and land parcel are located in Cambridge, Massachusetts. 2017 Real Estate Acquisitions The following table summarizes real estate acquisitions for the year ended December 31, 2017 (in thousands): Consideration Assets Acquired Segment Cash Paid Net Liabilities Assumed Real Estate Net Intangibles SHOP $ 44,258 $ 797 $ 37,940 $ 7,115 Life science 315,255 3,524 305,760 13,019 Medical office 201,240 1,104 184,115 18,229 $ 560,753 $ 5,425 $ 527,815 $ 38,363 Construction, Tenant and Other Capital Improvements The following table summarizes the Company’s expenditures for construction, tenant and other capital improvements (in thousands): Year Ended December 31, Segment 2018 2017 2016 Senior housing triple-net $ 11,311 $ 32,343 $ 49,109 SHOP 53,389 49,473 74,158 Life science 396,431 240,901 200,122 Medical office 144,694 148,926 128,308 Other 1,361 135 7,203 $ 607,186 $ 471,778 $ 458,900

Dispositions of Real Estate and

Dispositions of Real Estate and Discontinued Operations	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Dispositions of Real Estate and Discontinued Operations	Dispositions of Real Estate and Discontinued Operations Dispositions of Real Estate Held for Sale At December 31, 2018 , nine SHOP facilities and one undeveloped life science land parcel were classified as held for sale, with an aggregate carrying value of $108 million , primarily comprised of real estate assets of $101 million , net of accumulated depreciation of $30 million . At December 31, 2017 , two senior housing triple-net facilities, four life science facilities and six SHOP facilities were classified as held for sale, with an aggregate carrying value of $417 million , primarily comprised of real estate assets of $393 million , net of accumulated depreciation of $93 million . Liabilities of assets held for sale is primarily comprised of intangible and other liabilities at both December 31, 2018 and 2017 . Shoreline Technology Center In November 2018, the Company sold its Shoreline Technology Center life science campus located in Mountain View, California for $1.0 billion and recognized a gain on sale of $726 million . Brookdale MTCA Disposition As noted in Note 3, during the fourth quarter of 2018, the Company sold 19 assets ( 11 senior housing triple-net assets and eight SHOP assets) to a third-party for $377 million and recognized a gain on sale of $40 million . Refer to Note 3 for further detail on the Brookdale Transactions. RIDEA II Sale Transaction In January 2017, the Company completed the contribution of its ownership interest in RIDEA II to an unconsolidated joint venture owned by HCP and an investor group led by Columbia Pacific Advisors, LLC (“CPA”) (“HCP/CPA PropCo” and “HCP/CPA OpCo,” together, the “HCP/CPA JV”). Also in January 2017, RIDEA II was recapitalized with $602 million of debt, of which $360 million was provided by a third-party and $242 million was provided by HCP. In return for both transaction elements, the Company received combined proceeds of $480 million from the HCP/CPA JV and $242 million in loans receivable and retained an approximately 40% ownership interest in RIDEA II. This transaction resulted in the Company deconsolidating the net assets of RIDEA II and recognizing a net gain on sale of $99 million . Refer to Note 2 for the impact of adopting the Revenue ASUs on January 1, 2018 to the Company’s partial sale of RIDEA II in the first quarter of 2017. On November 1, 2017, the Company entered into a definitive agreement with an investor group led by CPA to sell its remaining 40% ownership interest in RIDEA II for $91 million and cause CPA to refinance the Company’s $242 million of loans receivable from RIDEA II. The Company completed the transaction in June 2018, resulting in proceeds of $332 million . The Company no longer holds an economic interest in RIDEA II. U.K. Portfolio In June 2018, the Company entered into a joint venture with an institutional investor (the “U.K. JV”) through which the Company sold a 51% interest in substantially all United Kingdom (“U.K.”) assets previously owned by the Company (the “U.K. Portfolio”) based on a total value of £382 million ( $507 million ). The Company retained a 49% noncontrolling interest in the U.K. JV and received gross proceeds of $402 million , including proceeds from the refinancing of the Company’s previously held intercompany loans. Upon closing the U.K. JV, the Company deconsolidated the U.K. Portfolio, recognized its retained noncontrolling interest investment at fair value ( $105 million ) and recognized a gain on sale of $11 million , net of $17 million of cumulative foreign currency translation reclassified from other comprehensive income (see Note 22 for the reclassification impact of the Company’s hedge of its net investment in the U.K.). The U.K. JV provides numerous mechanisms by which the joint venture partner can acquire the Company’s remaining interest in the U.K. JV. The fair value of the Company’s retained noncontrolling interest investment is based on Level 2 measurements within the fair value hierarchy. Additionally, in August 2018, the Company sold its remaining £11 million U.K. development loan at par. 2018 Other Dispositions During the quarter ended March 31, 2018, the Company sold two SHOP assets for $35 million , resulting in total gain on sales of $21 million (includes asset sales to Brookdale as discussed in Note 3 above). During the quarter ended June 30, 2018, the Company sold eight SHOP assets for $268 million and two senior housing triple-net assets for $35 million , resulting in total gain on sales of $25 million (includes asset sales to Brookdale as discussed in Note 3 above). During the quarter ended September 30, 2018, the Company sold four life science assets for $269 million , 11 SHOP assets for $76 million and two MOBs for $21 million , resulting in total gain on sales of $95 million . During the quarter ended December 31, 2018, the Company sold two SHOP facilities for $15 million , two MOBs for $4 million , and one undeveloped land parcel for $3 million , resulting in no material gain or loss on sales. 2017 Dispositions In January 2017, the Company sold four life science facilities in Salt Lake City, Utah for $76 million , resulting in a net gain on sale of $45 million . In March 2017, the Company sold 64 senior housing triple-net assets, previously under triple-net leases with Brookdale, for $1.125 billion to affiliates of Blackstone Real Estate Partners VIII, L.P., resulting in a net gain on sale of $170 million . Additionally, during the year ended December 31, 2017, the Company sold the following: (i) a life science land parcel for $27 million , (ii) one life science building for $5 million , (iii) four senior housing triple-net facilities for $27 million , (iv) five SHOP facilities for $43 million and (v) four MOBs for $15 million , and recorded a net gain on sale of $41 million . 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 senior housing triple-net facilities for $130 million , (ii) five life science facilities for $386 million , (iii) seven senior housing triple-net facilities for $88 million , (iv) three MOBs for $20 million and (v) three SHOP facilities for $41 million . Discontinued Operations - Quality Care Properties, Inc. 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”). The Spin-Off assets were primarily comprised of the HCR ManorCare, Inc. (“HCRMC”) DFL investments and an equity investment in HCRMC. As a result of the Spin-Off, the operations of QCP are classified as discontinued operations for the year ended December 31, 2016. 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 by 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 zero 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 terminated on October 31, 2017. From October 31, 2016 through June 2017, HCP was the sole lender to QCP of an unsecured revolving credit facility (the “Unsecured Revolving Credit Facility”) which had a total commitment of $100 million at inception. No amounts were drawn on the Unsecured Revolving Credit Facility and the total commitment was reduced to zero at June 30, 2017. The results of discontinued operations through October 31, 2016, the Spin-Off date, are included in the consolidated results for the year ended December 31, 2016. Summarized financial information for discontinued operations for the year ended December 31, 2016 is as follows (in thousands): Revenues: Rental and related revenues $ 24,204 Income from direct financing leases 384,752 Total revenues 408,956 Costs and expenses: Depreciation and amortization (4,892 ) Operating (3,367 ) General and administrative (67 ) Transaction costs (86,765 ) Other income (expense), net 71 Income (loss) before income taxes 313,936 Income tax benefit (expense) (48,181 ) Total discontinued operations $ 265,755 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 year ended December 31, 2016, the Company recognized DFL income of $385 million and received cash payments of $385 million from the HCRMC DFL investments. During the year ended December 31, 2016, the Company sold 13 HCRMC facilities for $153 million . 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2018
Leases, Capital [Abstract]
Leases	Leases Net Investment in Direct Financing Leases The components of net investment in DFLs consisted of the following (dollars in thousands): December 31, 2018 2017 Minimum lease payments receivable $ 1,013,976 $ 1,062,452 Estimated residual value 507,484 504,457 Less unearned income (807,642 ) (852,557 ) Net investment in direct financing leases $ 713,818 $ 714,352 Properties subject to direct financing leases 29 29 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, 2018 (in thousands): Year Amount 2019 $ 114,970 2020 63,308 2021 63,687 2022 58,135 2023 58,570 Thereafter 655,306 $ 1,013,976 Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2018 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Senior housing triple-net $ 629,214 88 $ 278,503 $ 350,711 $ — Other non-reportable segments 84,604 12 84,604 — — $ 713,818 100 $ 363,107 $ 350,711 $ — 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, 2018 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 an income approach and utilizes inputs 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, 2018 , 2017 and 2016 , the Company recognized DFL income of $14 million , $13 million and $13 million , respectively, and received cash payments of $19 million , $18 million and $18 million , respectively, from the DFL Portfolio. The carrying value of the DFL Portfolio was $351 million and $356 million at December 31, 2018 and 2017 , respectively. Operating Leases 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, 2018 (in thousands): Year Amount 2019 $ 971,417 2020 928,102 2021 853,451 2022 751,972 2023 675,537 Thereafter 2,320,847 $ 6,501,326 Tenant Purchase Options Certain leases, including DFLs contain purchase options whereby the tenant may elect to acquire the underlying real estate. Annualized base rent from leases subject to purchase options, summarized by the year the purchase options are exercisable, are as follows (dollars in thousands): Year Annualized Base Rent (1) Number of Properties 2019 $ 23,771 10 2020 14,545 4 2021 12,747 6 2022 13,315 3 Thereafter 50,577 34 $ 114,955 57 _______________________________________ (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 interest and deferred revenues). Operating Lease Expense In certain situations, the Company leases land or equipment needed for the operation of its business. Such leases generally require fixed annual rent payments, may include escalation clauses and renewal options, and have terms that are up to 99 years, excluding extension options. The Company’s rental expense attributable to continuing operations was $10 million for each of the years ended December 31, 2018, 2017 and 2016. Future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 were as follows (in thousands): Year Amount 2019 $ 5,597 2020 5,687 2021 5,776 2022 5,862 2023 5,983 Thereafter 466,130 $ 495,035

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Loans Receivable	Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2018 2017 Real Estate Secured Other Secured Total Real Estate Secured Other Secured Total Mezzanine (1) $ — $ 21,013 $ 21,013 $ — $ 269,299 $ 269,299 Other (2) 42,037 — 42,037 188,418 — 188,418 Unamortized discounts, fees and costs — (52 ) (52 ) — (596 ) (596 ) Allowance for loan losses (1) — — — — (143,795 ) (143,795 ) $ 42,037 $ 20,961 $ 62,998 $ 188,418 $ 124,908 $ 313,326 _______________________________________ (1) At December 31, 2017, primarily related to the Company’s mezzanine loan facility to Tandem Health Care discussed below. (2) At December 31, 2018 , the Company had $73 million remaining of commitments to fund a $115 million senior living development project. At December 31, 2017, includes the U.K. Bridge Loan discussed below. The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2018 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 42,037 67 $ 42,037 $ — $ — Other secured 20,961 33 20,961 — — $ 62,998 100 $ 62,998 $ — $ — Real Estate Secured Loans The following table summarizes the Company’s loan receivable secured by real estate at December 31, 2018 (dollars in thousands): Final Maturity Date Number of Loans Payment Terms Principal Amount (1) Carrying Amount 2022 1 monthly interest-only payments, accrues interest at 6.5% and secured by a senior housing facility in Washington (2) $ 42,037 $ 42,037 _______________________________________ (1) Represents future contractual principal payments to be received on loans receivable secured by real estate. (2) Contains a participation feature that allows the Company to participate in up to 20% of the appreciation of the asset through the time the loan is refinanced or repaid. During the year ended December 31, 2018 , the Company recognized $5 million in interest income related to loans secured by real estate, including interest income related to the U.K. Bridge Loan discussed below. Four Seasons Health Care In March 2017, the Company sold its investment in Four Seasons Health Care’s (“Four Seasons”) senior secured term loan at par plus accrued interest for £29 million ( $35 million ). Additionally, in March 2017, pursuant to a shift in the Company’s investment strategy, the Company sold its £138.5 million par value Four Seasons senior notes (the “Four Seasons Notes”) for £83 million ( $101 million ). The disposition of the Four Seasons Notes generated a £42 million ( $51 million ) gain on sale, recognized in other income (expense), net. Other Secured Loans HC-One Facility On June 30, 2017, the Company received £283 million ( $367 million ) from the repayment of its HC-One mezzanine loan. Tandem Health Care Loan From July 2012 through May 2015, the Company funded, in aggregate, $257 million under a collateralized mezzanine loan facility (the “Mezzanine Loan”) to certain affiliates of Tandem Health Care (together with its affiliates, “Tandem”). As part of its quarterly review process, the Company recorded an impairment charge and related allowance of $57 million during the three months ended June 30, 2017, reducing the carrying value to $200 million . The decline in fair value was driven by a variety of factors, including recent operating results of the underlying real estate assets, as well as market and industry data, that reflect a declining trend in admissions and a continuing shift away from higher-rate Medicare plans in the post-acute/skilled nursing sector. The calculation of the fair value was primarily based on an income approach and relies on forecasted EBITDAR and market data, including, but not limited to, sales price per unit/bed, rent coverage ratios, and real estate capitalization rates. All valuation inputs are considered to be Level 2 measurements within the fair value hierarchy. Additionally, on July 31, 2017, subsequent to its second quarter 2017 quarterly review process and the aforementioned impairment, the Company entered into a binding agreement (the “Repurchase Agreement”) with the borrowers to provide an option to repay the Mezzanine Loan at a discounted value of $197 million (the “Repayment Value”) by October 25, 2017, which date was subsequently extended to December 31, 2017 (the “Agreement Maturity Date”). As a result of entering into the Repurchase Agreement, the Company recorded an additional impairment charge and related allowance of $3 million during the quarter ended September 30, 2017 to write down the carrying value of the Mezzanine Loan to the Repayment Value and assigned the loan an internal rating of Workout. As part of the Repurchase Agreement, Tandem posted, in aggregate, $8 million of non-refundable deposits (the “Deposits”), which the Company was entitled to retain (without any credit against the Mezzanine Loan) if Tandem failed to make interest payments on the $257 million par value of the Mezzanine Loan through the repayment date or the Agreement Maturity Date, as applicable, adjusted for any principal payments received. On November 17, 2017, the Company declared an event of default under the Mezzanine Loan. Tandem also failed to make its December 2017, January 2018 and February 2018 interest payments to the Company. As a result of the aforementioned events that occurred during the fourth quarter of 2017 and first quarter of 2018 (during the Company's fourth quarter 2017 financial statement close process), the Company concluded that the Mezzanine Loan was impaired and recorded an impairment charge and related allowance of $84 million , reducing the carrying value of the loan to $105 million as of December 31, 2017. Aggregate impairments on the Mezzanine Loan for the year ended December 31, 2017 were $144 million . The decline in expected recoverable value of the Mezzanine Loan was primarily driven by the Company’s conclusion that the collateral supporting the Mezzanine Loan may no longer be the sole source in recovering the Company’s investment. As a result, the Company utilized a discounted cash flow model to determine expected recoverability of the Mezzanine Loan. Additionally, a variety of factors further impacted the impairment analysis completed during the Company’s fourth quarter 2017 financial statement close process including operating results of the underlying real estate assets, as well as market and industry data, that reflect a declining trend in admissions and a continuing shift away from higher-rate Medicare plans in the post-acute/skilled nursing sector. The calculation relied on: (i) forecasted EBITDAR and market data, including, but not limited to, sales price per unit/bed, rent coverage ratios, and real estate capitalization rates and (ii) bids for a sale of the Mezzanine Loan received in February 2018, which incorporate market participant required rates of return and expected hold periods. Beginning in the first quarter of 2017, the Company elected to recognize interest income on a cash basis. During the years ended December 31, 2018 , 2017 and 2016 , the Company recognized interest income of zero , $23 million , and $31 million , respectively, and received cash payments of $25 million and $30 million , respectively, from Tandem. The carrying value of the Mezzanine Loan was $105 million at December 31, 2017 . In March 2018, the Company sold the Mezzanine Loan to a third party for approximately $112 million , resulting in an impairment recovery, net of transaction costs and fees, of $3 million included in other income (expense), net. The Company holds no further economic interest in the operations of Tandem. U.K. Bridge Loan In 2016, the Company provided a £105 million ( $131 million at closing) bridge loan (the “U.K. Bridge Loan”) to Maria Mallaband Care Group Ltd. ("MMCG") to fund the acquisition of a portfolio of seven care homes in the U.K. Under the U.K. Bridge Loan, the Company retained a three -year call option to acquire those seven care homes at a future date for £105 million , subject to certain conditions precedent being met. In March 2018, upon resolution of all conditions precedent, the Company began the process of exercising its call option to acquire the seven care homes and concluded that it should consolidate the real estate. As a result, the Company derecognized the outstanding loan receivable of £105 million and recognized a £29 million ( $41 million ) loss on consolidation. Refer to Note 19 for further discussion regarding impact of consolidating the seven care homes during the first quarter of 2018. In June 2018, the Company completed the process of exercising the above-mentioned call option. The seven care homes acquired through the call option were included in the U.K. JV transaction (see Note 5).

Investments in and Advances to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Joint Ventures	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) Ownership % 2018 2017 CCRC JV 49 $ 365,764 $ 400,241 RIDEA II (2) 40 — 259,651 U.K. JV (3) 49 101,735 — Life Science JVs (4) 50 - 63 — 65,581 MBK JV 50 35,435 38,005 Development JVs (5) 50 - 90 25,493 23,365 Medical Office JVs (6) 20 - 67 10,160 12,488 K&Y JVs (7) 80 1,430 1,283 Advances to unconsolidated joint ventures, net 71 226 $ 540,088 $ 800,840 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint venture. (2) In June 2018, the Company sold its equity method investment in RIDEA II (see Note 5). (3) See Note 5 for discussion of the formation of the U.K. JV and the Company’s equity method investment. (4) Includes the following unconsolidated 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% ). In November 2018, the Company acquired the outstanding equity interests and began consolidating the entities (see Note 4). (5) Includes four unconsolidated development partnerships (and the Company’s ownership percentage): (i) Vintage Park Development JV ( 85% ); (ii) Waldwick JV ( 85% ); (iii) Otay Ranch JV ( 90% ); and (iv) MBK Development JV ( 50% ). (6) Includes three unconsolidated medical office partnerships (and the Company’s ownership percentage): (i) HCP Ventures IV, LLC ( 20% ); (ii) HCP Ventures III, LLC ( 30% ); and (iii) Suburban Properties, LLC ( 67% ). (7) Includes three unconsolidated joint ventures. The following tables summarize combined financial information for the Company’s unconsolidated joint ventures (in thousands): December 31, 2018 2017 Real estate, net $ 2,128,147 $ 2,104,090 Other assets, net 479,935 928,790 Total assets $ 2,608,082 $ 3,032,880 Mortgage and other debt $ 827,622 $ 900,911 Accounts payable and other 655,177 561,523 Other partners’ capital 515,791 655,311 HCP’s capital (1) 609,492 915,135 Total liabilities and partners’ capital $ 2,608,082 $ 3,032,880 Year Ended December 31, 2018 2017 2016 Total revenues $ 642,724 $ 810,216 $ 424,134 Total operating expense (492,784 ) (643,452 ) (344,553 ) Income (loss) from discontinued operations — — 8,810 Net income (loss) (43,704 ) (42,408 ) 43,015 HCP’s share in earnings (2,594 ) 10,901 11,360 Fees earned by HCP 125 133 299 Distributions received by HCP 48,939 81,165 54,858 At December 31, 2018 and 2017, the aggregate unamortized basis difference of the Company's investments in unconsolidated joint ventures of $69 million and $115 million , respectively, is primarily attributable to the difference between the amount for which the Company purchased its interest in the entity and the historical carrying value of the net assets of the entity. The difference is being amortized over the remaining useful life of the related assets and included in equity income (loss) from unconsolidated joint ventures.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2018
Intangibles
Intangibles	Intangibles The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2018 2017 Gross intangible lease assets $ 556,114 $ 795,305 Accumulated depreciation and amortization (251,035 ) (385,223 ) Net intangible lease assets $ 305,079 $ 410,082 The following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2018 2017 Gross intangible lease liabilities $ 94,444 $ 126,212 Accumulated depreciation and amortization (39,781 ) (73,633 ) Net intangible lease liabilities $ 54,663 $ 52,579 The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles (in thousands): Year Ended December 31, 2018 2017 2016 Depreciation and amortization expense related to amortization of lease-up intangibles $ 67,350 $ 76,732 $ 84,487 Rental and related revenues related to amortization of net below market lease liabilities 5,253 2,030 3,877 Operating expense related to amortization of net below market ground lease intangibles 636 740 664 The following table summarizes the estimated annual amortization for each of the five succeeding fiscal years and thereafter (in thousands): Rental and Related Revenues (1) Operating Expense (2) Depreciation and Amortization (3) 2019 $ 4,399 $ 505 $ 50,762 2020 3,670 621 39,433 2021 3,587 738 32,214 2022 4,331 738 26,438 2023 4,269 738 24,293 Thereafter 16,521 29,901 80,812 $ 36,777 $ 33,241 $ 253,952 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related income. (2) The amortization of net below market ground lease intangibles is recorded as an increase to operating expense. (3) The amortization of lease-up intangibles is recorded to depreciation and amortization expense.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Bank Line of Credit and Term Loans The Company's $2.0 billion unsecured revolving line of credit facility (the “Facility”) matures on October 19, 2021 and contains two , six -month extension options. 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, 2018 , the margin on the Facility was 0.875% , and the facility fee was 0.15% . The Facility also includes a feature that allows the Company to increase the borrowing capacity by an aggregate amount of up to $750 million , subject to securing additional commitments. At December 31, 2018 , the Company had $80 million , including £55 million ( $70 million ), outstanding under the Facility with a weighted average effective interest rate of 2.12% . In March 2017, the Company repaid a £137 million unsecured term loan. On June 30, 2017, the Company repaid £51 million of its four -year unsecured term loan entered into in January 2015 (the "2015 Term Loan"). Concurrently, the Company terminated its three -year interest rate swap which fixed the interest of the 2015 Term Loan and therefore, beginning June 30, 2017, the 2015 Term Loan accrued interest at a rate of GBP LIBOR plus 1.15% , subject to adjustments based on the Company's credit ratings. On July 3, 2018, the Company exercised its one-time right to repay the outstanding GBP balance and re-borrow in USD with all other key terms unchanged, which resulted in repayment of the £169 million balance and re-borrowing of $224 million . In November 2018, the Company repaid the $224 million unsecured term loan, bringing the total term loan balance to zero as of December 31, 2018 . The Facility contains certain financial restrictions and other customary requirements, including cross-default provisions to other indebtedness. Among other things, these covenants, using terms defined in the agreements: (i) limit the ratio of Consolidated Total Indebtedness to Consolidated Total Asset Value to 60% , (ii) limit the ratio of Secured Debt to Consolidated Total Asset Value to 30% , (iii) limit the ratio of Unsecured Debt to Consolidated Unencumbered Asset Value to 60% ; (iv) require a minimum Fixed Charge Coverage ratio of 1.5 times; and (v) require a Minimum Consolidated Tangible Net Worth of $6.5 billion at December 31, 2018 . At December 31, 2018 , the Company believes it was in compliance with each of these restrictions and requirements of the Facility. Senior Unsecured Notes At December 31, 2018 , the Company had senior unsecured notes outstanding with an aggregate principal balance of $ 5.3 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, 2018 . 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, 2018: July 16, 2018 (1) $ 700,000 5.375 % November 8, 2018 $ 450,000 3.750 % Year ended December 31, 2017: May 1, 2017 $ 250,000 5.625 % July 27, 2017 (2) $ 500,000 5.375 % Year ended December 31, 2016: February 1, 2016 $ 500,000 3.750 % September 15, 2016 $ 400,000 6.300 % November 30, 2016 (3) $ 500,000 6.000 % November 30, 2016 (3) $ 600,000 6.700 % _______________________________________ (1) The Company recorded a $44 million loss on debt extinguishment related to the repurchase of senior notes. (2) The Company recorded a $54 million loss on debt extinguishment related to the repurchase of senior notes. (3) The Company recorded a $46 million loss on debt extinguishment related to the repurchase of senior notes. There were no senior unsecured notes issuances for the years ended December 31, 2018 , 2017 , and 2016 . Mortgage Debt At December 31, 2018 , the Company had $133 million in aggregate principal of mortgage debt outstanding, which is secured by 15 healthcare facilities with a carrying value of $278 million . In March 2017, the Company paid off $472 million of mortgage debt. 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 Ma t urities The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2018 (dollars in thousands): Bank Line of Credit (1) Senior Unsecured Notes (2) Mortgage Debt (3) Total (4) Year Amount Interest Rate Amount Interest Rate 2019 $ — $ — — % $ 3,561 — % $ 3,561 2020 — 800,000 2.79 % 3,609 5.08 % 803,609 2021 80,103 — — % 10,957 5.26 % 91,060 2022 — 900,000 3.93 % 2,691 — % 902,691 2023 — 800,000 4.39 % 2,811 — % 802,811 Thereafter — 2,800,000 4.34 % 109,705 4.10 % 2,909,705 80,103 5,300,000 133,334 5,513,437 (Discounts), premium and debt costs, net — (41,450 ) 5,136 (36,314 ) $ 80,103 $ 5,258,550 $ 138,470 $ 5,477,123 _______________________________________ (1) Includes £55 million translated into USD. (2) Interest rates on the notes range from 2.79% to 6.87% with a weighted average effective rate of 4.03% and a weighted average maturity of six years. (3) Interest rates on the mortgage debt range from 2.80% to 5.91% with a weighted average effective interest rate of 4.20% and a weighted average maturity of 19 years. (4) Excludes $91 million of other debt that have no scheduled maturities. Other debt represents (i) $58 million of non-interest bearing life care bonds and occupancy fee deposits at certain of the Company's senior housing facilities and (ii) $33 million of on-demand notes from the CCRC JV which bear interest at a rate of 3.6% .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to, or has a significant relationship to, legal proceedings, lawsuits and other claims. Except as described below, the Company is not aware of any legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company’s policy is to expense legal costs as they are incurred. Class Action. 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, certain of its officers, HCR ManorCare, Inc. (“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, as amended (the “Exchange Act”), 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 (“DoJ”) in a suit against HCRMC arising from the False Claims Act that the DoJ voluntarily dismissed with prejudice. The plaintiff in the class action 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. On November 28, 2017, the Court appointed Societe Generale Securities GmbH (SGSS Germany) and the City of Birmingham Retirement and Relief Systems (Birmingham) as Co-Lead Plaintiffs in the class action. The motion to dismiss was fully briefed on May 21, 2018 and oral arguments were held on October 23, 2018. Subsequently, on December 6, 2018, HCRMC and its officers were voluntarily dismissed from the class action lawsuit without prejudice to such claims being refiled. The Company believes the suit to be without merit and intends to vigorously defend against it. Derivative Actions. 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 Company is named as a nominal defendant. As both derivative actions contained substantially the same allegations, they have been consolidated into a single action (the “California derivative action”). The consolidated 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. On April 18, 2017, the Court approved the parties’ stipulation to stay the case pending disposition of the motion to dismiss the class action litigation. On April 10, 2017, a purported stockholder of the Company filed a derivative action, Weldon v. Martin et al. , Case No. 3:17-cv-755, in federal court in the Northern District of Ohio, Western Division, against certain of the Company’s current and former directors and officers and HCRMC. The Company is named as a nominal defendant. The Weldon complaint asserts similar claims to those asserted in the California derivative action. In addition, the complaint asserts a claim under Section 14(a) of the Exchange Act, alleging that the Company made false statements in its 2016 proxy statement by not disclosing that the Company’s performance issues in 2015 were the direct result of alleged billing fraud at HCRMC. On April 18, 2017, the Court re-assigned and transferred this action to the judge presiding over the related federal securities class action. On July 11, 2017, the Court approved a stipulation by the parties to stay the case pending disposition of the motion to dismiss the class action. On July 21, 2017, a purported stockholder of the Company filed another derivative action, Kelley v. HCR ManorCare, Inc., et al., Case No. 8:17-cv-01259, in federal court in the Central District of California, against certain of the Company’s current and former directors and officers and HCRMC. The Company is named as a nominal defendant. The Kelley complaint asserts similar claims to those asserted in Weldon and in the California derivative action. Like Weldon, the Kelley complaint also additionally alleges that the Company made false statements in its 2016 proxy statement, and asserts a claim for a violation of Section 14(a) of the Exchange Act. On November 28, 2017, the federal court in the Central District of California granted Defendants’ motion to transfer the action to the Northern District of Ohio (i.e., the court where the class action and other federal derivative action are pending). The Court in the Northern District of Ohio is currently considering whether to consolidate the Weldon and Kelley actions, appointment of lead plaintiffs and counsel, and whether the stay in Weldon should continue as to either or both actions. The Company’s Board of Directors received letters dated August 17, 2016, April 19, 2017, and April 20, 2017 from private law firms acting on behalf of clients who are purported stockholders of the Company, each asserting allegations similar to those made in the California derivative action matters discussed above. Each letter demands that the Board of Directors take action to assert the Company’s rights. The Board of Directors completed its evaluation and rejected the demand letters in December of 2017. The Company believes that the plaintiffs lack standing or the lawsuits and demands are without merit, but cannot predict the outcome of these proceedings or reasonably estimate any potential loss at this time. Accordingly, no loss contingency has been recorded for these matters as of December 31, 2018 , as the likelihood of loss is not considered probable or estimable. 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 on a total of 35 properties. Commitments The following table summarizes the Company’s material commitments, excluding debt service obligations (see Note 10) and operating leases (see Note 6), at December 31, 2018 (in thousands): Total 2019 2020-2021 2022-2023 More than Five Years Construction loan commitments (1) $ 72,654 $ 68,365 $ 4,289 $ — $ — Development commitments (2) 299,702 273,625 26,077 — — Total $ 372,356 $ 341,990 $ 30,366 $ — $ — _______________________________________ (1) Represents commitments to finance development projects. (2) Represents construction and other commitments for developments in progress. Credit Enhancement Guarantee At December 31, 2018 , certain of the Company’s senior housing facilities serve as collateral for $74 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 $351 million as of December 31, 2018 . Environmental Costs Various environmental laws govern certain aspects of the ongoing management and operation of our facilities, including those related to presence of asbestos-containing materials. The presence of, or the failure to manage and/or remediate, such materials may adversely affect the occupancy and performance of the Company's facilities. The Company monitors its properties for the presence of such hazardous or toxic substances and 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, workers' compensation, flood, windstorm, earthquake, environmental, cyber 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 and have limits.

Equity

Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Equity	Equity Dividends On January 31, 2019 , 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 February 28, 2019 to stockholders of record as of the close of business on February 19, 2019 . During the years ended December 31, 2018 , 2017 and 2016 , the Company declared and paid common stock cash dividends of $1.480 , $1.480 and $2.095 per share, respectively. At-The-Market Equity Offering Program In June 2015, the Company established an at-the-market equity offering program (“ATM Program”). In May 2018, the Company renewed its 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, 2018 , the Company issued 5.4 million shares of common stock at a weighted average net price of $28.27 for net proceeds of $154 million . At December 31, 2018 , $594 million of our common stock remained available for sale under the ATM Program. There was no activity during the years ended December 31, 2017 and 2016. Forward Equity Offering In December 2018, the Company entered into a forward equity sales agreement to sell up to an aggregate of 15.25 million shares of its common stock (including shares issued through the exercise of underwriters’ options) at an initial net price of $28.60 per share, after underwriting discounts and commissions. The agreement has a one year term and expires on December 13, 2019. The forward sale price that the Company expects to receive upon settlement of the agreement will be subject to adjustments for: (i) the forward purchasers’ stock borrowing costs and (ii) certain fixed price reductions during the term of the agreement. At December 31, 2018 , no shares have been issued under the forward equity sales agreement. In December 2018, contemporaneous with the forward equity offering discussed above, the Company completed an offering of two million shares of common stock at a net price of $28.60 per share, resulting in net proceeds of $57 million . The following table summarizes the Company’s other common stock activities (shares in thousands): Year Ended December 31, 2018 2017 2016 Dividend Reinvestment and Stock Purchase Plan 237 983 2,021 Conversion of DownREIT units 3 78 145 Exercise of stock options 120 32 133 Vesting of restricted stock units 401 419 529 Repurchase of common stock 141 157 237 Accumulated Other Comprehensive Loss The following table summarizes the Company’s accumulated other comprehensive loss (in thousands): December 31, 2018 2017 Cumulative foreign currency translation adjustment (1) $ (1,683 ) $ (6,955 ) Unrealized gains (losses) on derivatives, net (467 ) (13,950 ) Supplemental Executive Retirement plan minimum liability and other (2,558 ) (3,119 ) Total accumulated other comprehensive income (loss) $ (4,708 ) $ (24,024 ) _______________________________________ (1) See Notes 5 and 19 for a discussion of the U.K. JV transaction. Noncontrolling Interests At December 31, 2018 , there were four million DownREIT units ( seven 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, 2018 , the carrying and market values of the four million DownREIT units were $177 million and $185 million , respectively. See Notes 3, 4 and 5 for transactions involving noncontrolling interests.

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company evaluates its business and allocates resources based on its reportable business segments: (i) senior housing triple-net, (ii) SHOP, (iii) life science and (iv) medical office. The Company has non-reportable segments that are comprised primarily of the Company’s debt investments, hospital properties, unconsolidated joint ventures, and U.K. investments. The accounting policies of the segments are the same as those described under Summary of Significant Accounting Policies (see Note 2). During the years ended December 31, 2018 , 2017 and 2016 , 22 , 25 and 17 senior housing triple-net facilities, respectively, were transferred to the Company’s SHOP segment. When an asset is transferred from one segment to another, the results associated with that asset are included in the original segment until the date of transfer. Results generated after the transfer date are included in the new segment. The Company evaluates performance based upon: (i) property net operating income from continuing operations (“NOI”) and (ii) Adjusted NOI. NOI is defined as real estate revenues (inclusive of rental and related revenues, resident fees and services, and income from direct financing leases), less property level operating expenses (which exclude transition costs); NOI excludes all other financial statement amounts included in net income (loss) . Adjusted NOI is calculated as NOI after eliminating the effects of straight-line rents, DFL non-cash interest, amortization of market lease intangibles, lease termination fees, actuarial reserves for insurance claims that have been incurred but not reported and the impact of deferred community fee income and expense . NOI and Adjusted NOI exclude the Company's share of income (loss) generated by unconsolidated joint ventures, which is recognized in equity income (loss) from unconsolidated joint ventures in the consolidated statements of operations. Non-segment assets consist of assets in the Company's other non-reportable segments (see above) and corporate non-segment assets. Corporate 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. See Note 20 for other information regarding concentrations of credit risk. The following tables summarize information for the reportable segments (in thousands): For the year ended December 31, 2018 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 276,091 $ 547,976 $ 395,064 $ 509,019 $ 108,133 $ — $ 1,836,283 Operating expenses (3,618 ) (414,312 ) (91,742 ) (189,859 ) (5,507 ) — (705,038 ) NOI 272,473 133,664 303,322 319,160 102,626 — 1,131,245 Adjustments to NOI (2) 2,127 2,875 (9,589 ) (2,899 ) (4,418 ) — (11,904 ) Adjusted NOI 274,600 136,539 293,733 316,261 98,208 — 1,119,341 Addback adjustments (2,127 ) (2,875 ) 9,589 2,899 4,418 — 11,904 Interest income — — — — 10,406 — 10,406 Interest expense (2,404 ) (2,725 ) (316 ) (474 ) (1,469 ) (258,955 ) (266,343 ) Depreciation and amortization (79,605 ) (104,405 ) (140,480 ) (193,710 ) (31,299 ) — (549,499 ) General and administrative — — — — — (96,702 ) (96,702 ) Transaction costs — — — — — (10,772 ) (10,772 ) Recoveries (impairments), net — (44,343 ) (7,639 ) — (3,278 ) — (55,260 ) Gain (loss) on sales of real estate, net 641 93,977 806,184 4,428 20,755 — 925,985 Loss on debt extinguishment — — — — — (44,162 ) (44,162 ) Other income (expense), net — — — — 9,605 3,711 13,316 Income tax benefit (expense) — — — — — 17,854 17,854 Equity income (loss) from unconsolidated joint ventures — — — — (2,594 ) — (2,594 ) Net income (loss) $ 191,105 $ 76,168 $ 961,071 $ 129,404 $ 104,752 $ (389,026 ) $ 1,073,474 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees. For the year ended December 31, 2017 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 313,547 $ 525,473 $ 358,816 $ 477,459 $ 116,846 $ — $ 1,792,141 Operating expenses (3,819 ) (396,491 ) (78,001 ) (183,197 ) (4,743 ) — (666,251 ) NOI 309,728 128,982 280,815 294,262 112,103 — 1,125,890 Adjustments to NOI (2) 17,098 33,227 (4,517 ) (2,952 ) (4,446 ) — 38,410 Adjusted NOI 326,826 162,209 276,298 291,310 107,657 — 1,164,300 Addback adjustments (17,098 ) (33,227 ) 4,517 2,952 4,446 — (38,410 ) Interest income — — — — 56,237 — 56,237 Interest expense (2,518 ) (7,920 ) (373 ) (506 ) (4,230 ) (292,169 ) (307,716 ) Depreciation and amortization (103,820 ) (103,162 ) (128,864 ) (169,795 ) (29,085 ) — (534,726 ) General and administrative — — — — — (88,772 ) (88,772 ) Transaction costs — — — — — (7,963 ) (7,963 ) Recoveries (impairments), net (22,590 ) — — — (143,794 ) — (166,384 ) Gain (loss) on sales of real estate, net 280,349 17,485 45,916 9,095 3,796 — 356,641 Loss on debt extinguishment — — — — — (54,227 ) (54,227 ) Other income (expense), net — — — — 50,895 (19,475 ) 31,420 Income tax benefit (expense) — — — — — 1,333 1,333 Equity income (loss) from unconsolidated joint ventures — — — — 10,901 — 10,901 Net income (loss) $ 461,149 $ 35,385 $ 197,494 $ 133,056 $ 56,823 $ (461,273 ) $ 422,634 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees. For the year ended December 31, 2016 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 423,118 $ 686,822 $ 358,537 $ 446,280 $ 125,729 $ — $ 2,040,486 Operating expenses (6,710 ) (480,870 ) (72,478 ) (173,687 ) (4,654 ) — (738,399 ) NOI 416,408 205,952 286,059 272,593 121,075 — 1,302,087 Adjustments to NOI (2) (7,566 ) (2,686 ) (2,954 ) (3,536 ) (3,022 ) — (19,764 ) Adjusted NOI 408,842 203,266 283,105 269,057 118,053 — 1,282,323 Addback adjustments 7,566 2,686 2,954 3,536 3,022 — 19,764 Interest income — — — — 88,808 — 88,808 Interest expense (9,499 ) (29,745 ) (2,357 ) (5,895 ) (9,153 ) (407,754 ) (464,403 ) Depreciation and amortization (136,146 ) (108,806 ) (130,829 ) (161,790 ) (30,537 ) — (568,108 ) General and administrative — — — — — (103,611 ) (103,611 ) Transaction costs — — — — — (9,821 ) (9,821 ) Gain (loss) on sales of real estate, net 48,744 675 49,042 8,333 57,904 — 164,698 Loss on debt extinguishment — — — — — (46,020 ) (46,020 ) Other income (expense), net — — — — — 3,654 3,654 Income tax benefit (expense) — — — — — (4,473 ) (4,473 ) Equity income (loss) from unconsolidated joint ventures — — — — 11,360 — 11,360 Discontinued operations — — — — — 265,755 265,755 Net income (loss) $ 319,507 $ 68,076 $ 201,915 $ 113,241 $ 239,457 $ (302,270 ) $ 639,926 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees. The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2018 2017 2016 Senior housing triple-net $ 276,091 $ 313,547 $ 423,118 SHOP 547,976 525,473 686,822 Life science 395,064 358,816 358,537 Medical office 509,019 477,459 446,280 Other non-reportable segments 118,539 173,083 214,537 Total revenues $ 1,846,689 $ 1,848,378 $ 2,129,294 The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segments 2018 2017 2016 Senior housing triple-net $ 2,965,679 $ 3,515,400 $ 3,871,720 SHOP 2,173,795 2,392,130 3,135,115 Life science 4,303,471 4,154,372 3,961,623 Medical office 4,354,441 3,989,168 3,724,483 Reportable segment assets 13,797,386 14,051,070 14,692,941 Accumulated depreciation and amortization (2,915,592 ) (2,919,278 ) (2,900,060 ) Net reportable segment assets 10,881,794 11,131,792 11,792,881 Other non-reportable segment assets 1,015,854 1,904,433 2,255,712 Assets held for sale, net 108,086 417,014 927,866 Other non-segment assets 712,819 635,222 782,806 Total assets $ 12,718,553 $ 14,088,461 $ 15,759,265 The Company completed the required annual goodwill impairment test during the fourth quarter of 2018 , 2017 and 2016, and no impairment was recognized. At December 31, 2018 and 2017, goodwill of $47 million was allocated to segment assets as follows: (i) senior housing triple-net— $21 million , (ii) SHOP— $9 million , (iii) medical office— $11 million and (iv) other— $6 million .

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation Plans	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, 2018 , 29 million of the reserved shares under the 2014 Plan are available for future awards, of which 19 million shares may be issued as restricted stock or restricted stock units. Total share-based compensation expense recognized during the years ended December 31, 2018 , 2017 and 2016 was $15 million , $14 million , and $23 million , respectively. The year ended December 31, 2018 includes a $2 million charge recognized in general and administrative expenses primarily resulting from the departure of our Executive Chairman that was comprised of the accelerated vesting of restricted stock units. The year ended December 31, 2017 includes a $1 million charge recognized in general and administrative expenses related to the accelerated vesting of restricted stock units primarily resulting from the departure of the Company's former Chief Accounting Officer. The year ended December 31, 2016 includes a $7 million charge recognized in general and administrative expenses related to the accelerated vesting of restricted stock units primarily resulting from the departure of the Company’s former chief executive officer (“CEO”). As of December 31, 2018 , there was $26 million of future expense 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 two years associated with future employee service. 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 conversion impacted 133 participants, resulting in additional awards being granted. The fair value of these additional awards was immaterial. Stock Options There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 0.8 million at December 31, 2018 and 1.1 million at December 31, 2017 . Proceeds received from stock options exercised under the Plans for the years ended December 31, 2018 , 2017 and 2016 were $2 million , $1 million and $4 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 three to six 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 actual 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, 2018 , 2017 and 2016 , the Company withheld 141,000 , 157,000 and 237,000 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, 2018 (units in thousands): Restricted Stock Units Weighted Average Grant Date Fair Value Unvested at January 1, 2018 1,139 $ 33.41 Granted 1,097 22.95 Vested (401 ) 32.42 Forfeited (137 ) 30.34 Unvested at December 31, 2018 1,698 27.13 At December 31, 2018 , the weighted average remaining vesting period of restricted stock and performance based units was two years. The total fair value (at vesting) of restricted stock and performance based units which vested for the years ended December 31, 2018 , 2017 and 2016 was $10 million , $15 million and $24 million , respectively.

Impairments

Impairments	12 Months Ended
	Dec. 31, 2018
Asset Impairment Charges [Abstract]
Impairments	Impairments Real Estate During 2018, in conjunction with classifying the assets as held for sale, the Company determined that 17 underperforming SHOP assets and an undeveloped life science land parcel were impaired. Additionally, the Company determined that three additional underperforming SHOP assets that were candidates for potential future sale were impaired under the held-for-use impairment model. Accordingly, the Company recognized total impairment charges of $52 million during 2018 to write-down the carrying value of the assets to their respective fair values (less an estimate of costs to sell for assets classified as held for sale). The fair value of the assets was based on contracted or forecasted sales prices and expected future cash flows, which are considered to be Level 2 measurements within the fair value hierarchy. During 2017, the Company determined that 11 underperforming senior housing triple-net assets that were candidates for potential future sale were impaired under the held-for-use impairment model. Accordingly, the Company wrote-down the carrying amount of these 11 assets to their fair value, which resulted in an aggregate impairment charge of $23 million . The fair value of the assets was based on forecasted sales prices which are considered to be Level 2 measurements within the fair value hierarchy. Casualty-Related As a result of Hurricane Harvey and Hurricane Irma during the year ended December 31, 2017, the Company recorded an estimated $13 million of casualty-related losses, net of a small insurance recovery. The losses are comprised of $8 million of property damage and $5 million of other associated costs, including storm preparation, clean up, relocation and other costs. Of the total $13 million casualty losses incurred, $12 million was recorded in other income (expense), net, and $1 million was recorded in equity income (loss) from unconsolidated joint ventures as it relates to casualty losses for properties owned by certain of our unconsolidated joint ventures. In addition, the Company recorded a $1 million deferred tax benefit associated with the casualty-related losses. Other See Note 7 for information on the impairment charge related to the mezzanine loan facility to Tandem and the impairment recovery related to Four Season Notes.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	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 TRSs (the “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 16. Certain REIT entities are also subject to state, local and foreign income taxes. Distributions with respect to our common stock can be characterized for federal income tax purposes as ordinary dividends, capital gains, nondividend distributions or a combination thereof. The following table shows the characterization of our annual common stock distributions per share: Year Ended December 31, 2018 2017 2016 Ordinary dividends (1) $ 0.9578 $ 1.4800 $ 1.5561 Capital gains 0.5222 — — Nondividend distributions — — 6.7089 $ 1.4800 $ 1.4800 $ 8.2650 (2) _______________________________________ (1) The 2018 amount includes $0.0164 of qualified dividend income for purposes of Code Section 1(h)(11), and $0.9414 of qualified business income for purposes of Code Section 199A. (2) Consists of $2.095 per common share of quarterly cash dividends and $6.17 per common share of stock dividends related to the Spin-Off (see Note 5). HCP common stockholders on October 24, 2016, the record date for the Spin-Off (the “Record Date”), received upon the Spin-Off on October 31, 2016, one share of QCP common stock for every five shares of HCP common stock they held (the “Distributed Shares”) and cash in lieu of fractional shares of QCP. For U.S. federal income tax purposes, HCP reported the fair market value of the QCP common stock distributed per each share of HCP common stock outstanding on the Record Date as $6.17 , or $30.85 for each share of QCP common stock. The TRS entities subject to tax reported losses before income taxes from continuing operations of $59 million , $58 million and $9 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The REIT’s losses from continuing operations before income taxes from the U.K. were $11 million , $4 million and $4 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The total income tax expense (benefit) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2018 2017 2016 Current Federal $ (568 ) $ 949 $ 8,525 State 4,003 1,504 8,307 Foreign 84 1,737 1,332 Total current $ 3,519 $ 4,190 $ 18,164 Deferred Federal $ (11,905 ) $ 2,730 $ (10,241 ) State (4,589 ) (5,889 ) (1,401 ) Foreign (4,879 ) (2,364 ) (2,049 ) Total deferred $ (21,373 ) $ (5,523 ) $ (13,691 ) Total income tax expense (benefit) $ (17,854 ) $ (1,333 ) $ 4,473 On December 22, 2017, the Tax Cuts and Jobs Act was signed into law. As a result of the reduced U.S. federal corporate tax rate, the Company recorded a tax expense of $17 million , due to a remeasurement of deferred tax assets and liabilities, which is included in total deferred tax expense (benefit) in the table above. The Company’s income tax expense from discontinued operations was $48 million for the year ended December 31, 2016 (see Note 5). There was no income tax expense from discontinued operations for the years ended December 31, 2018 and 2017 . The following table reconciles income tax expense (benefit) from continuing operations at statutory rates to actual income tax expense recorded (in thousands): Year Ended December 31, 2018 2017 2016 Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax $ (17,857 ) $ (21,085 ) $ (4,581 ) State income tax expense, net of federal tax (1,313 ) (1,222 ) 6,081 Gross receipts and margin taxes 1,580 1,716 1,847 Foreign rate differential 301 632 647 Effect of permanent differences (34 ) 6 (280 ) Return to provision adjustments (278 ) 1,597 287 Remeasurement of deferred tax assets and liabilities — 17,080 — Increase (decrease) in valuation allowance (253 ) (57 ) 472 Total income tax expense (benefit) $ (17,854 ) $ (1,333 ) $ 4,473 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, 2018 2017 2016 Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs $ 31,034 $ 31,691 $ 28,940 Net operating loss carryforward 20,559 10,720 8,784 Expense accruals and other 2,424 229 (847 ) Valuation allowance (295 ) (548 ) (606 ) Net deferred tax assets $ 53,722 $ 42,092 $ 36,271 Deferred tax assets and liabilities are included in other assets, net and accounts payable and accrued liabilities, respectively. At December 31, 2018 the Company had a net operating loss (“NOL”) carryforward of $80 million related to the TRS entities. These amounts can be used to offset future taxable income, if any. If unused, $44 million will begin to expire in 2033. The remainder, totaling $36 million , may be carried forward indefinitely. 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 2015. For the years ended December 31, 2018 , 2017 , and 2016 the tax basis of the Company’s net assets was less than the reported amounts by $1.4 billion , $1.7 billion , and $2.0 billion , respectively. 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. SEUSA was a corporation subject to federal and state income taxes. As a result of this acquisition, the Company succeeded to the tax attributes of SEUSA, including the tax basis in the acquired company’s assets and liabilities.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic income (loss) per common share is computed based upon the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the common shares issuable from the assumed conversion of DownREIT units, stock options, certain performance restricted stock units and unvested restricted stock units. Only those instruments having a dilutive impact on our basic income (loss) per share are included in diluted income (loss) per share during the periods presented. Restricted stock and certain performance restricted stock units are considered participating securities, because dividend payments are not forfeited even if the underlying award does not vest, and require use of the two-class method when computing basic and diluted earnings per share. In December 2018, the Company entered into forward equity sales agreement to sell up to an aggregate of 15.25 million shares of its common stock (see Note 12) by no later than December 13, 2019. The Company expects to settle this agreement with shares of common stock prior to expiration. The Company considered the potential dilution resulting from the forward equity sales agreement to the calculation of earnings per share. At inception, the agreement does not have an effect on the computation of basic EPS as no shares are delivered until settlement. However, the Company uses the treasury stock method to determine the dilution resulting from the forward equity sales agreement during the period of time prior to settlement. As the issuance price under the forward equity sales agreement was greater than the average market price at December 31, 2018 , the agreement was anti-dilutive. The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share data): Year Ended December 31, 2018 2017 2016 Numerator Net income (loss) from continuing operations $ 1,073,474 $ 422,634 $ 374,171 Noncontrolling interests' share in earnings (12,381 ) (8,465 ) (12,179 ) Net income (loss) attributable to HCP, Inc. 1,061,093 414,169 361,992 Less: Participating securities' share in earnings (2,669 ) (1,156 ) (1,198 ) Income (loss) from continuing operations applicable to common shares 1,058,424 413,013 360,794 Discontinued operations — — 265,755 Net income (loss) applicable to common shares $ 1,058,424 $ 413,013 $ 626,549 Numerator - Dilutive Net income (loss) applicable to common shares $ 1,058,424 $ 413,013 $ 626,549 Add: distributions on dilutive convertible units and other 6,919 — — Dilutive net income (loss) available to common shares $ 1,065,343 $ 413,013 $ 626,549 Denominator Basic weighted average shares outstanding 470,551 468,759 467,195 Dilutive potential common shares - equity awards 168 176 208 Dilutive potential common shares - DownREIT conversions 4,668 — — Diluted weighted average common shares 475,387 468,935 467,403 Basic earnings per common share Continuing operations $ 2.25 $ 0.88 $ 0.77 Discontinued operations — — 0.57 Net income (loss) applicable to common shares $ 2.25 $ 0.88 $ 1.34 Diluted earnings per common share Continuing operations $ 2.24 $ 0.88 $ 0.77 Discontinued operations — — 0.57 Net income (loss) applicable to common shares $ 2.24 $ 0.88 $ 1.34 For all periods presented in the above table, approximately 1 million equity awards (restricted stock units and stock options) and all shares of common stock issuable pursuant to the settlement of forward equity sales agreement (see discussion above) were not included because they are anti-dilutive. For the years ended December 31, 2018, 2017 and 2016, 2 million , 7 million and 7 million shares, respectively, issuable upon conversion of DownREIT units were not included because they are anti-dilutive.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table summarizes supplemental cash flow information (in thousands): Year Ended December 31, 2018 2017 2016 Supplemental cash flow information: Interest paid, net of capitalized interest $ 275,690 $ 309,111 $ 489,453 Income taxes paid 4,480 10,045 13,727 Capitalized interest 21,056 16,937 11,108 Supplemental schedule of non-cash investing and financing activities: Accrued construction costs 88,826 67,425 49,999 Non-cash impact of QCP Spin-Off, net — — 3,539,584 Securities transferred for debt defeasance — — 73,278 Retained equity method investment from U.K. JV transaction 104,922 — — Derecognition of U.K. Bridge Loan receivable 147,474 — — Consolidation of net assets related to U.K. Bridge Loan 106,457 — — Vesting of restricted stock units and conversion of non-managing member units into common stock 537 2,908 6,622 Net noncash impact from the consolidation of previously unconsolidated joint ventures (see Note 4) 68,293 — — Deconsolidation of noncontrolling interest in connection with RIDEA II transaction — 58,061 — Mortgages and other liabilities assumed with real estate acquisitions 8,457 5,425 82,985 See discussions related to: (i) the Brookdale Transactions in Note 3, (ii) the Spin-Off, RIDEA II transaction and U.K. JV transaction in Note 5, (iii) the U.K. Bridge Loan in Notes 7 and 19, and (iv) the acquisition of the outstanding equity interests in three life science joint ventures in Note 4. The following table summarizes cash, cash equivalents and restricted cash (in thousands): December 31, 2018 2017 Cash and cash equivalents $ 110,790 $ 55,306 Restricted cash 29,056 26,897 Cash, cash equivalents and restricted cash $ 139,846 $ 82,203

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2018
Variable Interest Entities
Variable Interest Entities	Variable Interest Entities Unconsolidated Variable Interest Entities At December 31, 2018 , the Company had investments in: (i) 48 properties leased to VIE tenants; (ii) four unconsolidated VIE joint ventures; (iii) marketable debt securities of one VIE; and (iv) one loan to a VIE borrower. 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 joint ventures (CCRC OpCo, Vintage Park Development JV, Waldwick JV and the LLC investment discussed below), it has no formal involvement in these VIEs beyond its investments. 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 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. 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 a joint venture (Vintage Park Development JV), 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 the joint venture primarily consist of a leased property (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of debt-service payments. Any assets generated by the joint venture may only be used to settle its respective contractual obligations (primarily debt service payments). The Company holds an 85% ownership interest in a development joint venture (Waldwick JV), 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 the joint venture primarily consist of an in-progress senior housing 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 the joint venture may only be used to settle its respective 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 general partner. 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 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 provided seller financing of $10 million related to its sale of seven senior housing triple-net 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, 2018 are presented below (in thousands): VIE Type Asset/Liability Type Maximum Loss Exposure and Carrying Amount (1) VIE tenants - DFLs (2) Net investment in DFLs $ 600,230 VIE tenants - operating leases (2) Lease intangibles, net and straight-line rent receivables 7,396 CCRC OpCo Investments in unconsolidated joint ventures 176,236 Unconsolidated development joint ventures Investments in unconsolidated joint ventures 15,176 Loan - seller financing Loans Receivable, net 10,000 CMBS and LLC investment Marketable debt and cost method investment 34,263 _______________________________________ (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, 2018 , the Company had 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 4, 6, 7 and 8 for additional descriptions of the nature, purpose and operating activities of the Company’s unconsolidated VIEs and interests therein. Consolidated Variable Interest Entities HCP, Inc.'s consolidated total assets and total liabilities at December 31, 2018 and December 31, 2017 include certain assets of VIEs that can only be used to settle the liabilities of the related VIE. The VIE creditors do not have recourse to HCP, Inc. Total assets at December 31, 2018 and December 31, 2017 include VIE assets as follows (in thousands): December 31, 2018 2017 Assets Building and improvements $ 1,949,582 $ 2,436,414 Developments in process 39,584 32,285 Land 151,746 227,162 Accumulated depreciation (398,143 ) (542,091 ) Net real estate 1,742,769 2,153,770 Investments in and advances to unconsolidated joint ventures 1,550 2,231 Accounts receivable, net 7,904 10,242 Cash and cash equivalents 23,772 15,861 Restricted cash 3,399 2,619 Intangible assets, net 111,333 125,475 Other assets, net 43,149 33,749 Total assets $ 1,933,876 $ 2,343,947 Liabilities Mortgage debt $ 44,598 $ 45,016 Intangible liabilities, net 19,128 10,672 Accounts payable and accrued expenses 66,736 269,280 Deferred revenue 24,215 14,432 Total liabilities $ 154,677 $ 339,400 HCP Ventures V, LLC . The Company holds a 51% ownership interest in and is the managing member of a joint venture entity formed in October 2015 that owns and leases MOBs (“HCP Ventures V”). Upon adoption of ASU No. 2015-02, Amendments to the Consolidation Analysis (“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 and is the managing member of a joint venture entity formed in January 2015 (“Vintage Park JV”) that owns an 85% interest in an unconsolidated development VIE. 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). Watertown JV . The Company holds a 95% ownership interest in and is the managing member of joint venture entities formed in November 2017 that own and operate a senior housing property in a RIDEA structure (“Watertown JV”). Watertown PropCo is a VIE as the Company and the non-managing member share in control of the entity, but substantially all of the entity's activities are performed on behalf of the Company. Watertown OpCo is a VIE as the non-managing member, through its equity interest, lacks substantive participation rights in the management of Watertown OpCo or kick-out rights over the managing member. The Company consolidates Watertown PropCo and Watertown 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 Watertown PropCo primarily consist of a leased property (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 Watertown OpCo primarily consist of leasehold interests in a senior housing facility (operating lease), resident fees receivable, and cash and cash equivalents; its obligations primarily consist of lease payments to Watertown 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 Watertown 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). Hayden JV . The Company holds a 99% ownership interest in a joint venture entity formed in December 2017 that owns and leases a life science complex (“Hayden JV”). The Hayden JV is a VIE as the members share in control of the entity, but substantially all of the entity's activities are performed on behalf of the Company. The Company consolidates the Hayden JV 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 Hayden JV primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of debt service payments and capital expenditures for the properties. Assets generated by Hayden JV may only be used to settle its contractual obligations (primarily from capital expenditures). MSREI JV . The Company holds a 51% ownership interest in, and is the managing member of, a joint venture entity formed in August 2018 that owns and leases MOBs (the “MSREI JV” - see Note 4). The MSREI JV is a VIE due to the non-managing member lacking substantive participation rights in the management of the joint venture or kick-out rights over the managing member. The Company consolidates the MSREI 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 the MSREI JV 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 the MSREI JV may only be used to settle its contractual obligations (primarily from capital expenditures). Consolidated Lessees. The Company leases six senior housing properties to lessee entities under cash flow leases through which the Company receives monthly rent equal to the residual cash flows of the properties. The lessee entities are classified as VIEs as they are "thinly capitalized" entities. The Company consolidates the lessee entities as it has the ability to control the activities that most significantly impact the economic performance of the lessee entities. The lessee entities' assets 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 the Company and operating expenses of the senior housing facilities (accounts payable and accrued expenses). Assets generated by the senior housing operations (primarily from senior housing resident rents) may only be used to settle its contractual obligations (primarily from the rental costs, operating expenses incurred to manage such facilities and debt costs). DownREITs . The Company holds a controlling ownership interest in and is the managing member of five DownREITs. The Company classifies 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”). The Company classifies 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 joint venture (“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. U.K. Bridge Loan . In 2016, the Company provided a £105 million ( $131 million at closing) bridge loan to MMCG to fund the acquisition of a portfolio of seven 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 had historically been identified as a VIE because it was “thinly capitalized.” The Company retained a three -year call option to acquire all the shares of the special purpose entity, which it could only exercise upon the occurrence of certain events. During the quarter ended March 31, 2018, the Company concluded that the conditions required to exercise the call option had been met and initiated the call option process to acquire the special purpose entity. In conjunction with initiating the process to legally exercise its call option and the satisfaction of required contingencies, the Company concluded that it was the primary beneficiary of the special purpose entity and therefore, should consolidate the entity. As such, during the quarter ended March 31, 2018, the Company derecognized the previously outstanding loan receivable, recognized the special purpose entity’s assets and liabilities at their respective fair values, and recognized a £29 million ( $41 million ) loss on consolidation, net of a tax benefit of £2 million ( $3 million ), to account for the difference between the carrying value of the loan receivable and the fair value of net assets and liabilities assumed. The loss on consolidation is recognized within other income (expense), net and the tax benefit is recognized within income tax benefit (expense). The fair value of net assets and liabilities consolidated during the first quarter of 2018 consisted of £81 million ( $114 million ) of net real estate, £4 million ( $5 million ) of intangible assets, and £9 million ( $13 million ) of net deferred tax liabilities. In June 2018, the Company completed the exercise of the above-mentioned call option and formally acquired full ownership of the special purpose entity. As such, the Company reconsidered whether the special purpose entity was a VIE and concluded that it was no longer “thinly capitalized” as the previously outstanding bridge loan converted to equity at risk and, therefore, was no longer a VIE. The real estate assets held by the special purpose entity were contributed to the U.K. JV formed by the Company in June 2018 (see Note 5).

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	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 following tables provide information regarding the Company’s concentrations with respect to Brookdale as a tenant as of and for the periods presented: Percentage of Total Assets Total Company Senior Housing Triple-Net December 31, December 31, Tenant 2018 2017 2018 2017 Brookdale (1) 6 10 27 39 Percentage of Revenues Total Company Senior Housing Triple-Net Year Ended December 31, Year Ended December 31, Tenant 2018 2017 2016 2018 2017 2016 Brookdale (1) 6 8 12 38 47 59 _______________________________________ (1) Excludes senior housing facilities operated by Brookdale in the Company’s SHOP segment as discussed below. Percentages of segment and total company revenues include partial-year revenue earned from senior housing triple-net facilities that were sold during 2018. Accordingly, the percentages of segment and total company revenues are expected to decrease in 2019. The years ended December 31, 2017 and 2016 include revenues from 64 senior housing triple-net facilities that were sold in March 2017. As of December 31, 2018 and 2017 , Brookdale managed or operated, in the Company’s SHOP segment, approximately 7% and 13% , respectively, of the Company’s real estate investments based on total 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, 2018 , Brookdale provided comprehensive facility management and accounting services with respect to 35 of the Company’s SHOP 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 on the SEC’s website at www.sec.gov. See Note 3 for further information on the reduction of concentration related to Brookdale. To mitigate the credit risk of leasing properties to certain senior housing 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 total assets and revenues: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2018 2017 2018 2017 2016 California 34 31 26 26 26 Texas 16 14 18 17 17

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Financial Instruments, Owned, at Fair Value [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2018 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, 2018 (3) 2017 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 62,998 $ 62,998 $ 313,326 $ 313,242 Marketable debt securities (2) 19,202 19,202 18,690 18,690 Bank line of credit (2) 80,103 80,103 1,017,076 1,017,076 Term loan (2) — — 228,288 228,288 Senior unsecured notes (1) 5,258,550 5,302,485 6,396,451 6,737,825 Mortgage debt (2) 138,470 136,161 144,486 125,984 Other debt (2) 90,785 90,785 94,165 94,165 Interest-rate swap liabilities (2) 1,310 1,310 2,483 2,483 Cross currency swap liability (2) — — 10,968 10,968 _______________________________________ (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) During the years ended December 31, 2018 and 2017 , there were no transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The following table summarizes the Company’s outstanding interest-rate contracts as of December 31, 2018 (dollars in thousands): Date Entered Maturity Date Hedge Designation Notional Pay Rate Receive Rate Fair Value (1) Interest rate: July 2005 (2) July 2020 Cash Flow $ 43,000 3.820% BMA Swap Index $ (1,310 ) _____________________________ (1) 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. The Company uses derivative instruments to mitigate the effects of interest rate 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 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 shift in the underlying interest rate curve, the estimated change in fair value of each of the underlying derivative instruments would not exceed $1 million . On June 29, 2018, concurrent with closing the U.K. JV transaction, the Company terminated a cross currency swap contract, which was designated as a hedge of the Company’s net investment in the U.K. As such, upon deconsolidation of the U.K. Portfolio, the Company reclassified the $6 million loss in other comprehensive income related to the cross currency swap through gain (loss) on sales of real estate, net. As of December 31, 2018 , £55 million of the Company’s GBP-denominated borrowings under the Facility are designated as a hedge of a portion of the Company’s net investments in GBP-functional currency unconsolidated 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 £55 million GBP-denominated borrowings due primarily 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 balance in accumulated other comprehensive income (loss) (loss of $2 million at December 31, 2018 ) will be reclassified to earnings when the Company sells its remaining U.K. investments.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) The following table summarizes selected quarterly information for the years ended December 31, 2018 and 2017 (in thousands, except per share amounts): Three Months Ended 2018 March 31 June 30 September 30 December 31 Total revenues $ 479,197 $ 469,551 $ 456,022 $ 441,919 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 37,331 88,375 98,908 833,600 Net income (loss) 43,237 92,928 102,926 834,383 Net income (loss) applicable to HCP, Inc. 40,232 89,942 99,371 831,548 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.08 0.19 0.21 1.75 Diluted earnings per common share 0.08 0.19 0.21 1.73 Three Months Ended 2017 March 31 June 30 September 30 December 31 Total revenues $ 492,168 $ 458,928 $ 454,023 $ 443,259 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 454,746 18,874 (12,263 ) (50,957 ) Net (loss) income 464,177 22,101 (5,720 ) (57,924 ) Net (loss) income applicable to HCP, Inc. 461,145 19,383 (7,657 ) (58,702 ) Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.98 0.04 (0.02 ) (0.13 ) Diluted earnings per common share 0.97 0.04 (0.02 ) (0.13 ) The above selected quarterly financial data includes the following significant transactions: 2018 • During the quarter ended December 31, 2018, the Company sold its Shoreline Technology Center life science campus for $1.0 billion and recognized a gain on sale of $726 million . • During the quarter ended December 31, 2018, the Company acquired the outstanding equity interests in three life science joint ventures for $92 million and recognized a gain on consolidation of $50 million . • During the quarter ended December 31, 2018, the Company sold 19 senior housing assets ( 11 senior housing triple-net assets and eight SHOP assets) for $377 million and recognized gain on sales of $40 million . • During the quarter ended December 31, 2018, the Company recognized impairment charges of $33 million related to four underperforming SHOP assets. • During the quarter ended September 30, 2018, the Company repurchased $700 million of its 5.375% senior notes due 2021 and recorded a $44 million loss on debt extinguishment. • During the quarter ended March 31, 2018, The Company recognized a £29 million ( $41 million ) loss on consolidation related to the U.K. Bridge Loan (see Notes 7 and 19). 2017 • During the quarter ended December 31, 2017, the Company recognized a $20 million net reduction of rental and related revenues and $35 million of operating expense related to the Brookdale Transactions. • During the quarter ended December 31, 2017, the Company recorded an impairment charge of $84 million related to the Tandem Mezzanine Loan. • During the quarter ended December 31, 2017, the Company recognized a tax expense of $17 million due to a remeasurement of deferred tax assets and liabilities. • During the quarter ended September 30, 2017, the Company repurchased $500 million of its 5.375% senior notes due 2021 and recorded a $54 million loss on debt extinguishment. • During the quarter ended June 30, 2017, the Company recorded an impairment charge of $57 million related to the Tandem Mezzanine Loan. • During the quarter ended March 31, 2017, the Company deconsolidated the net assets of RIDEA II and recognized a net gain on sale of $99 million . • During the quarter ended March 31, 2017, the Company sold 64 senior housing triple-net assets, resulting in a net gain on sale of $170 million . • During the quarter ended March 31, 2017, the Company sold its Four Seasons Notes, which generated a £42 million ( $51 million ) gain on sale.

Schedule II_ Valuation and Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II: Valuation and Qualifying Accounts	Valuation and Qualifying Accounts Allowance Accounts (1) Additions Deductions Year Ended December 31, Balance at Beginning of Year Amounts Charged Against Operations, net Acquired Properties Uncollectible Accounts Written-off Dispositions Balance at End of Year 2018 $ 169,374 $ 4,105 $ — $ (1,887 ) $ (143,795 ) $ 27,797 2017 29,518 144,135 — (2,732 ) (1,547 ) 169,374 2016 36,180 1,177 — (2,843 ) (4,996 ) 29,518 _______________________________________ (1) Includes allowance for doubtful accounts, straight-line rent reserves, and allowances for loan and direct financing lease losses (see Note 6 to the Consolidated Financial Statements).

Schedule III_ Real Estate and A

Schedule III: Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III: Real Estate and Accumulated Depreciation	Real Estate and Accumulated Depreciation Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) Senior housing triple-net 1107 Huntsville AL $ — $ 307 $ 5,813 $ — $ 307 $ 5,453 $ 5,760 $ (1,670 ) 2006 0786 Douglas AZ — 110 703 — 110 703 813 (385 ) 2005 0518 Tucson AZ — 2,350 24,037 — 2,350 24,037 26,387 (12,219 ) 2002 1238 Beverly Hills CA — 9,872 32,590 9,257 9,872 38,972 48,844 (11,638 ) 2006 0883 Carmichael CA — 4,270 13,846 — 4,270 13,236 17,506 (3,998 ) 2006 2204 Chino Hills CA — 3,720 41,183 — 3,720 41,183 44,903 (6,307 ) 2014 0851 Citrus Heights CA — 1,180 8,367 — 1,180 8,037 9,217 (3,370 ) 2006 0790 Concord CA 25,000 6,010 39,601 — 6,010 38,301 44,311 (12,835 ) 2005 0787 Dana Point CA — 1,960 15,946 — 1,960 15,466 17,426 (5,187 ) 2005 0798 Escondido CA 14,340 5,090 24,253 — 5,090 23,353 28,443 (7,833 ) 2005 0791 Fremont CA — 2,360 11,672 — 2,360 11,192 13,552 (3,754 ) 2005 0788 Granada Hills CA — 2,200 18,257 — 2,200 17,637 19,837 (5,916 ) 2005 0227 Lodi CA — 732 5,453 — 732 5,453 6,185 (3,164 ) 1997 0226 Murietta CA — 435 5,729 — 435 5,729 6,164 (3,257 ) 1997 1165 Northridge CA — 6,718 26,309 2,820 6,752 27,890 34,642 (9,012 ) 2006 0789 Pleasant Hill CA 6,270 2,480 21,333 — 2,480 20,633 23,113 (6,921 ) 2005 2205 Roseville CA — 3,844 33,527 — 3,844 33,527 37,371 (5,038 ) 2014 0793 South San Francisco CA — 3,000 16,586 — 3,000 16,056 19,056 (5,380 ) 2005 0792 Ventura CA — 2,030 17,379 — 2,030 16,749 18,779 (5,618 ) 2005 0512 Denver CO — 2,810 36,021 1,885 2,810 37,686 40,496 (18,826 ) 2002 1000 Greenwood Village CO — 3,367 43,610 2,894 3,367 45,708 49,075 (13,295 ) 2006 0861 Apopka FL — 920 4,816 994 920 5,710 6,630 (2,073 ) 2006 0852 Boca Raton FL — 4,730 17,532 5,471 4,730 22,391 27,121 (8,375 ) 2006 2467 Ft Myers FL — 2,782 21,827 — 2,782 21,827 24,609 (2,400 ) 2016 1095 Gainesville FL — 1,221 12,226 83 1,221 12,084 13,305 (3,675 ) 2006 0490 Jacksonville FL — 3,250 25,936 6,170 3,250 32,106 35,356 (13,791 ) 2002 1096 Jacksonville FL — 1,587 15,616 65 1,587 15,363 16,950 (4,685 ) 2006 1017 Palm Harbor FL — 1,462 16,774 696 1,462 17,084 18,546 (5,277 ) 2006 0802 St. Augustine FL — 830 11,627 1,471 830 12,698 13,528 (4,887 ) 2005 1097 Tallahassee FL — 1,331 19,039 123 1,331 18,818 20,149 (5,725 ) 2006 1605 Vero Beach FL — 700 16,234 — 700 15,484 16,184 (3,539 ) 2010 1257 Vero Beach FL — 2,035 34,993 201 2,035 33,634 35,669 (10,298 ) 2006 2165 Hartwell GA — 368 6,337 320 368 6,657 7,025 (1,235 ) 2012 2066 Lawrenceville GA — 581 2,669 576 581 3,245 3,826 (860 ) 2012 1241 Lilburn GA — 907 17,340 370 907 17,125 18,032 (5,296 ) 2006 2086 Newnan GA — 1,227 4,202 533 1,227 4,735 5,962 (1,183 ) 2012 1005 Oak Park IL — 3,476 35,259 1,862 3,476 36,575 40,051 (10,507 ) 2006 1162 Orland Park IL — 2,623 23,154 1,732 2,623 24,111 26,734 (7,514 ) 2006 1237 Wilmette IL — 1,100 9,373 791 1,100 9,940 11,040 (3,091 ) 2006 2115 Murray KY — 288 7,400 319 288 7,719 8,007 (1,574 ) 2012 1249 Frederick MD — 609 9,158 1,217 609 9,811 10,420 (2,948 ) 2006 0546 Cape Elizabeth ME — 630 3,524 93 630 3,617 4,247 (1,428 ) 2003 0545 Saco ME — 80 2,363 155 80 2,518 2,598 (991 ) 2003 1258 Auburn Hills MI — 2,281 10,692 — 2,281 10,692 12,973 (3,274 ) 2006 1248 Farmington Hills MI — 1,013 12,119 968 1,013 12,435 13,448 (3,928 ) 2006 1259 Sterling Heights MI — 1,593 11,500 — 1,593 11,181 12,774 (3,424 ) 2006 1235 Des Peres MO — 4,361 20,664 1,333 4,361 21,379 25,740 (6,385 ) 2006 1236 Richmond Heights MO — 1,744 24,232 413 1,744 23,961 25,705 (7,364 ) 2006 0853 St. Louis MO — 2,500 20,343 — 2,500 19,853 22,353 (8,327 ) 2006 0878 Charlotte NC — 710 9,559 — 710 9,159 9,869 (2,767 ) 2006 2465 Charlotte NC — 1,373 10,774 — 1,373 10,774 12,147 (1,185 ) 2016 2468 Franklin NC — 1,082 8,489 — 1,082 8,489 9,571 (933 ) 2016 2466 Raeford NC — 1,304 10,230 — 1,304 10,230 11,534 (1,125 ) 2016 1254 Raleigh NC — 1,191 11,532 1,198 1,191 12,182 13,373 (3,572 ) 2006 1239 Cresskill NJ — 4,684 53,927 618 4,684 53,503 58,187 (16,460 ) 2006 0734 Hillsborough NJ — 1,042 10,042 796 1,042 10,372 11,414 (3,485 ) 2005 1242 Madison NJ — 3,157 19,909 252 3,157 19,523 22,680 (5,969 ) 2006 1231 Saddle River NJ — 1,784 15,625 754 1,784 15,710 17,494 (4,848 ) 2006 0796 Las Vegas NV — 1,960 5,816 — 1,960 5,426 7,386 (1,820 ) 2005 1252 Brooklyn NY — 8,117 23,627 1,198 8,117 23,669 31,786 (7,319 ) 2006 1256 Brooklyn NY — 5,215 39,052 1,290 5,215 39,312 44,527 (12,230 ) 2006 1253 Youngstown OH — 695 10,444 760 695 10,824 11,519 (3,478 ) 2006 2131 Keizer OR 2,262 551 6,454 — 551 6,454 7,005 (1,136 ) 2013 2152 McMinnville OR — 3,203 24,909 5,839 3,203 29,253 32,456 (6,757 ) 2012 2089 Newberg OR — 1,889 16,855 874 1,889 17,729 19,618 (3,025 ) 2012 2133 Portland OR — 1,615 12,030 189 1,615 12,219 13,834 (1,926 ) 2012 2050 Redmond OR — 1,229 21,921 844 1,229 22,765 23,994 (3,594 ) 2012 2084 Roseburg OR — 1,042 12,090 145 1,042 12,235 13,277 (2,305 ) 2012 2134 Scappoose OR — 353 1,258 17 353 1,275 1,628 (317 ) 2012 2153 Scappoose OR — 971 7,116 162 971 7,278 8,249 (1,584 ) 2012 2088 Tualatin OR — — 6,326 396 — 6,722 6,722 (1,687 ) 2012 2180 Windfield Village OR 2,456 580 9,817 — 580 9,817 10,397 (1,723 ) 2013 1163 Haverford PA — 16,461 108,816 14,337 16,461 118,289 134,750 (37,303 ) 2006 2063 Selinsgrove PA — 529 9,111 255 529 9,366 9,895 (1,971 ) 2012 1973 South Kingstown RI — 1,390 12,551 630 1,390 12,918 14,308 (3,660 ) 2011 1975 Tiverton RI — 3,240 25,735 651 3,240 25,939 29,179 (7,152 ) 2011 1104 Aiken SC — 357 14,832 151 363 14,395 14,758 (4,447 ) 2006 1109 Columbia SC — 408 7,527 131 412 7,411 7,823 (2,311 ) 2006 0306 Georgetown SC — 239 3,008 — 239 3,008 3,247 (1,303 ) 1998 0879 Greenville SC — 1,090 12,558 — 1,090 12,058 13,148 (3,642 ) 2006 Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) 0305 Lancaster SC — 84 2,982 — 84 2,982 3,066 (1,208 ) 1998 0880 Myrtle Beach SC — 900 10,913 — 900 10,513 11,413 (3,176 ) 2006 0312 Rock Hill SC — 203 2,671 — 203 2,671 2,874 (1,136 ) 1998 1113 Rock Hill SC — 695 4,119 322 795 4,074 4,869 (1,440 ) 2006 0313 Sumter SC — 196 2,623 — 196 2,623 2,819 (1,136 ) 1998 2073 Kingsport TN — 1,113 8,625 335 1,113 8,960 10,073 (1,732 ) 2012 1003 Nashville TN — 812 16,983 2,524 812 18,759 19,571 (5,180 ) 2006 0843 Abilene TX — 300 2,830 — 300 2,710 3,010 (853 ) 2006 2107 Amarillo TX — 1,315 26,838 894 1,315 27,732 29,047 (4,649 ) 2012 0511 Austin TX — 2,960 41,645 — 2,960 41,645 44,605 (21,169 ) 2002 2075 Bedford TX — 1,204 26,845 1,704 1,204 28,549 29,753 (5,120 ) 2012 0844 Burleson TX — 1,050 5,242 — 1,050 4,902 5,952 (1,542 ) 2006 0848 Cedar Hill TX — 1,070 11,554 — 1,070 11,104 12,174 (3,493 ) 2006 1325 Cedar Hill TX — 440 7,494 — 440 6,974 7,414 (2,048 ) 2007 1106 Houston TX — 1,008 15,333 183 1,020 14,955 15,975 (4,601 ) 2006 0845 North Richland Hills TX — 520 5,117 — 520 4,807 5,327 (1,512 ) 2006 0846 North Richland Hills TX — 870 9,259 — 870 8,819 9,689 (3,171 ) 2006 2162 Portland TX — 1,233 14,001 3,027 1,233 17,028 18,261 (3,484 ) 2012 2116 Sherman TX — 209 3,492 187 209 3,679 3,888 (787 ) 2012 0847 Waxahachie TX — 390 3,879 — 390 3,659 4,049 (1,151 ) 2006 2470 Abingdon VA — 1,584 12,431 — 1,584 12,431 14,015 (1,367 ) 2016 1244 Arlington VA — 3,833 7,076 940 3,833 7,573 11,406 (2,456 ) 2006 1245 Arlington VA — 7,278 37,407 3,543 7,278 39,779 47,057 (12,340 ) 2006 0881 Chesapeake VA — 1,090 12,444 — 1,090 11,944 13,034 (3,608 ) 2006 1247 Falls Church VA — 2,228 8,887 969 2,228 9,522 11,750 (3,051 ) 2006 1164 Fort Belvoir VA — 11,594 99,528 12,927 11,594 109,472 121,066 (35,474 ) 2006 1250 Leesburg VA — 607 3,236 275 607 3,296 3,903 (3,415 ) 2006 1246 Sterling VA — 2,360 22,932 1,279 2,360 23,297 25,657 (7,241 ) 2006 0225 Woodbridge VA — 950 6,983 1,652 950 8,460 9,410 (3,916 ) 1997 2095 College Place WA — 758 8,051 720 758 8,771 9,529 (1,814 ) 2012 1240 Edmonds WA — 1,418 16,502 155 1,418 16,138 17,556 (4,953 ) 2006 0797 Kirkland WA — 1,000 13,403 — 1,000 13,043 14,043 (4,375 ) 2005 1251 Mercer Island WA — 4,209 8,123 640 4,209 8,253 12,462 (2,575 ) 2006 2096 Poulsbo WA — 1,801 18,068 231 1,801 18,299 20,100 (3,288 ) 2012 2102 Richland WA — 249 5,067 138 249 5,205 5,454 (926 ) 2012 0794 Shoreline WA — 1,590 10,671 — 1,590 10,261 11,851 (3,442 ) 2005 0795 Shoreline WA — 4,030 26,421 — 4,030 25,651 29,681 (8,542 ) 2005 2061 Vancouver WA — 513 4,556 263 513 4,819 5,332 (1,092 ) 2012 2062 Vancouver WA — 1,498 9,997 211 1,498 10,207 11,705 (1,787 ) 2012 $ 50,328 $ 243,697 $ 1,955,332 $ 107,418 $ 243,853 $ 2,011,624 $ 2,255,477 $ (604,961 ) Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) Senior housing operating portfolio 1974 Sun City AZ $ — $ 2,640 $ 33,223 $ 3,260 $ 2,640 $ 35,953 $ 38,593 $ (10,613 ) 2011 1965 Fresno CA — 1,730 31,918 2,583 1,730 34,071 35,801 (9,839 ) 2011 2593 Irvine CA — 8,220 14,104 3,191 8,220 16,755 24,975 (3,846 ) 2006 2792 Santa Rosa CA — 3,582 21,113 2,314 3,627 22,087 25,714 (6,971 ) 2006 1966 Sun City CA — 2,650 22,709 4,471 2,650 26,725 29,375 (8,704 ) 2011 2505 Arvada CO — 1,788 29,896 1,744 1,788 31,640 33,428 (3,885 ) 2015 2506 Boulder CO — 2,424 36,746 2,064 2,424 38,810 41,234 (3,546 ) 2015 2515 Denver CO — 2,311 18,645 2,204 2,311 20,849 23,160 (3,673 ) 2015 2508 Lakewood CO — 4,384 60,795 2,244 4,384 63,039 67,423 (7,050 ) 2015 2509 Lakewood CO — 2,296 37,236 1,815 2,296 39,051 41,347 (3,664 ) 2015 2782 Glastonbury CT — 1,658 16,046 653 1,658 16,699 18,357 (3,148 ) 2012 2783 Torrington CT — 166 11,001 4,637 166 15,228 15,394 (4,941 ) 2005 2603 Boca Raton FL — 2,415 17,923 2,062 2,415 18,960 21,375 (5,124 ) 2006 1963 Boynton Beach FL — 2,550 31,521 4,971 2,550 35,827 38,377 (11,022 ) 2011 1964 Boynton Beach FL — 570 5,649 2,550 570 8,006 8,576 (3,052 ) 2011 2602 Boynton Beach FL — 1,270 4,773 4,124 1,270 7,123 8,393 (1,589 ) 2003 2520 Clearwater FL — 2,250 2,627 2,284 2,250 4,331 6,581 (1,353 ) 2015 2604 Coconut Creek FL — 2,461 16,006 3,026 2,461 17,598 20,059 (4,568 ) 2006 2601 Delray Beach FL — 850 6,637 3,139 850 8,863 9,713 (2,587 ) 2002 2517 Ft Lauderdale FL — 2,867 43,126 4,806 2,867 47,776 50,643 (6,847 ) 2015 2592 Lantana FL — 3,520 26,452 1,317 3,520 26,969 30,489 (10,731 ) 2006 2522 Lutz FL — 902 15,169 2,494 902 17,663 18,565 (1,759 ) 2015 2523 Orange City FL — 912 9,724 1,320 912 11,044 11,956 (1,599 ) 2015 2775 Port Orange FL — 2,340 9,898 1,498 2,340 10,875 13,215 (3,737 ) 2005 2524 Port St Lucie FL — 893 10,333 1,319 893 11,652 12,545 (1,802 ) 2015 1971 Sarasota FL — 3,050 29,516 7,938 3,050 37,025 40,075 (11,489 ) 2011 2861 Springtree FL — 1,066 15,874 1,451 1,066 8,429 9,495 (3,258 ) 2013 2526 Tamarac FL — 970 16,037 1,577 970 17,614 18,584 (1,943 ) 2015 2527 Vero Beach FL — 1,048 17,392 1,762 1,048 19,154 20,202 (2,124 ) 2015 2858 Canton GA — 401 17,888 473 401 6,609 7,010 (2,881 ) 2012 2859 Bufford GA — 562 3,604 500 562 4,104 4,666 (994 ) 2015 2860 Bufford GA — 536 3,142 343 536 3,485 4,021 (803 ) 2012 2200 Deer Park IL — 4,172 2,417 44,603 4,229 44,546 48,775 (3,584 ) 2014 1961 Olympia Fields IL — 4,120 29,400 4,420 4,120 33,294 37,414 (9,914 ) 2011 1952 Vernon Hills IL — 4,900 45,854 7,677 4,900 52,835 57,735 (16,017 ) 2011 2595 Indianapolis IN — 1,197 7,718 1,092 1,197 8,578 9,775 (2,448 ) 2006 2596 W Lafayette IN — 813 10,876 1,432 813 8,011 8,824 (3,433 ) 2006 Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) 2778 Louisville KY — 1,499 26,252 734 1,513 26,138 27,651 (7,869 ) 2006 2787 Plymouth MA — 2,434 9,027 1,033 2,438 9,260 11,698 (2,855 ) 2006 2746 Watertown MA — 8,828 29,317 203 8,828 29,520 38,348 (923 ) 2017 2583 Ellicott City MD 18,985 3,607 31,720 1,626 3,607 33,346 36,953 (2,413 ) 2016 2584 Hanover MD 8,839 4,513 25,625 1,208 4,513 26,833 31,346 (1,907 ) 2016 2585 Laurel MD 5,733 3,895 13,331 1,279 3,895 14,610 18,505 (1,381 ) 2016 2541 Olney MD — 1,580 33,802 228 1,580 34,030 35,610 (3,309 ) 2015 2586 Parkville MD 20,485 3,854 29,061 1,209 3,854 30,270 34,124 (2,558 ) 2016 2587 Waldorf MD 8,289 392 20,514 868 392 21,382 21,774 (1,507 ) 2016 2788 Westminster MD — 768 5,251 1,963 768 6,902 7,670 (2,908 ) 1998 2776 Mooresville NC — 2,538 37,617 2,114 2,538 39,731 42,269 (6,653 ) 2012 2780 Cherry Hill NJ — 2,420 11,042 2,545 2,420 13,037 15,457 (4,374 ) 2010 2781 Manahawkin NJ — 921 9,927 891 921 10,352 11,273 (3,544 ) 2005 2779 Voorhees Township NJ — 900 7,629 934 900 8,224 9,124 (3,542 ) 1998 2589 Albuquerque NM — 767 9,324 539 767 9,364 10,131 (4,322 ) 1996 2516 Centerville OH — 1,065 10,901 1,658 1,065 12,559 13,624 (2,337 ) 2015 2512 Cincinnati OH — 1,180 6,157 2,702 1,180 8,859 10,039 (2,137 ) 2015 2597 Fairborn OH — 298 10,704 3,983 298 14,456 14,754 (4,140 ) 2006 2789 Portland OR — — 16,087 486 — 16,573 16,573 (2,512 ) 2012 1962 Warwick RI — 1,050 17,389 5,807 1,050 22,841 23,891 (6,867 ) 2011 2401 Germantown TN — 3,640 64,588 528 3,640 65,116 68,756 (7,538 ) 2015 2784 Arlington TX — 2,494 12,192 576 2,540 12,012 14,552 (3,622 ) 2006 2608 Arlington TX — 2,002 19,110 239 2,002 18,968 20,970 (5,553 ) 2006 2531 Austin TX — 607 15,972 573 607 16,545 17,152 (1,624 ) 2015 2786 Friendswood TX — 400 7,354 723 400 7,756 8,156 (2,776 ) 2002 2529 Grand Prairie TX — 865 10,650 1,395 865 12,045 12,910 (1,728 ) 2015 1955 Houston TX — 9,820 50,079 11,978 9,820 60,746 70,566 (19,773 ) 2011 1957 Houston TX — 8,170 37,285 6,545 8,170 42,999 51,169 (13,451 ) 2011 2785 Houston TX — 835 7,195 671 835 7,866 8,701 (3,557 ) 1997 2402 Houston TX — 1,740 32,057 153 1,740 32,210 33,950 (3,840 ) 2015 2606 Houston TX — 2,470 21,710 4,132 2,470 24,992 27,462 (11,297 ) 2002 2530 N Richland Hills TX — 1,190 17,756 1,493 1,190 19,249 20,439 (2,434 ) 2015 2532 San Antonio TX — 613 5,874 1,027 613 6,901 7,514 (1,367 ) 2015 2607 San Antonio TX — 730 3,961 421 730 4,067 4,797 (1,500 ) 2002 2533 San Marcos TX — 765 18,175 996 765 19,171 19,936 (1,980 ) 2015 1954 Sugar Land TX — 3,420 36,846 6,275 3,420 42,422 45,842 (13,190 ) 2011 2510 Temple TX — 2,354 52,859 1,384 2,354 54,243 56,597 (5,438 ) 2015 2400 Victoria TX — 1,032 7,743 2,406 1,032 9,253 10,285 (1,347 ) 2015 2605 Victoria TX — 175 4,290 5,589 175 8,424 8,599 (2,878 ) 1995 1953 Webster TX — 4,780 30,854 8,547 4,780 35,409 40,189 (9,958 ) 2011 2582 Fredericksburg VA — 2,370 19,725 157 2,370 19,882 22,252 (1,260 ) 2016 2581 Leesburg VA 12,039 1,340 17,605 1,054 1,340 18,659 19,999 (1,304 ) 2016 2514 Richmond VA — 2,981 54,203 2,437 2,981 56,640 59,621 (5,253 ) 2015 2777 Sterling VA — 1,046 15,788 599 1,046 16,378 17,424 (2,690 ) 2012 2790 Bellevue WA — 3,734 16,171 775 3,737 16,224 19,961 (5,014 ) 2006 2791 Kenmore WA — 3,284 16,641 694 3,284 17,335 20,619 (2,954 ) 2012 2745 Madison WI — 834 10,050 449 834 10,499 11,333 (2,116 ) 2012 $ 74,370 $ 186,684 $ 1,700,398 $ 233,184 $ 186,853 $ 1,875,576 $ 2,062,429 $ (388,038 ) Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) Life science 1483 Brisbane CA $ — $ 8,498 $ 500 $ 5,740 $ 8,498 $ 6,240 $ 14,738 $ — 2007 1484 Brisbane CA — 11,331 689 8,775 11,331 9,464 20,795 — 2007 1485 Brisbane CA — 11,331 600 7,648 11,331 8,248 19,579 — 2007 1486 Brisbane CA — 11,331 — 75,700 11,331 75,700 87,031 — 2007 1487 Brisbane CA — 8,498 — 6,940 8,498 6,940 15,438 — 2007 1401 Hayward CA — 900 7,100 1,746 900 7,992 8,892 (2,077 ) 2007 1402 Hayward CA — 1,500 6,400 3,682 1,719 9,863 11,582 (4,881 ) 2007 1403 Hayward CA — 1,900 7,100 4,722 1,900 11,568 13,468 (3,734 ) 2007 1404 Hayward CA — 2,200 17,200 1,402 2,200 18,602 20,802 (4,987 ) 2007 1405 Hayward CA — 1,000 3,200 7,478 1,000 10,678 11,678 (7,239 ) 2007 1549 Hayward CA — 1,006 4,259 3,463 1,055 6,409 7,464 (3,005 ) 2007 1550 Hayward CA — 677 2,761 5,583 710 2,836 3,546 (1,695 ) 2007 1551 Hayward CA — 661 1,995 4,632 693 5,489 6,182 (3,885 ) 2007 1552 Hayward CA — 1,187 7,139 1,346 1,222 8,094 9,316 (3,874 ) 2007 1553 Hayward CA — 1,189 9,465 7,361 1,225 16,265 17,490 (6,377 ) 2007 1554 Hayward CA — 1,246 5,179 3,332 1,283 7,599 8,882 (3,070 ) 2007 1555 Hayward CA — 1,521 13,546 6,401 1,566 19,888 21,454 (8,316 ) 2007 1556 Hayward CA — 1,212 5,120 3,661 1,249 5,828 7,077 (2,324 ) 2007 1424 La Jolla CA — 9,600 25,283 9,309 9,719 32,286 42,005 (10,326 ) 2007 1425 La Jolla CA — 6,200 19,883 431 6,276 20,228 26,504 (5,764 ) 2007 1426 La Jolla CA — 7,200 12,412 12,379 7,287 21,690 28,977 (6,393 ) 2007 1427 La Jolla CA — 8,700 16,983 6,273 8,767 21,894 30,661 (8,488 ) 2007 1949 La Jolla CA — 2,686 11,045 769 2,686 11,474 14,160 (3,106 ) 2011 2229 La Jolla CA — 8,753 32,528 7,427 8,777 39,791 48,568 (5,363 ) 2014 1470 Poway CA — 5,826 12,200 6,048 5,826 12,542 18,368 (3,515 ) 2007 1471 Poway CA — 5,978 14,200 4,253 5,978 14,200 20,178 (4,053 ) 2007 1472 Poway CA — 8,654 — 11,906 8,654 11,906 20,560 (1,692 ) 2007 1473 Poway CA — 11,024 2,405 26,213 11,024 28,618 39,642 — 2007 1474 Poway CA — 5,051 — 8,345 5,051 8,345 13,396 — 2007 1475 Poway CA — 5,655 — 9,051 5,655 9,051 14,706 — 2007 1478 Poway CA — 6,700 14,400 6,145 6,700 14,400 21,100 (4,110 ) 2007 1499 Redwood City CA — 3,400 5,500 2,631 3,407 7,231 10,638 (2,881 ) 2007 1500 Redwood City CA — 2,500 4,100 1,220 2,506 4,563 7,069 (1,657 ) 2007 1501 Redwood City CA — 3,600 4,600 860 3,607 5,024 8,631 (1,892 ) 2007 1502 Redwood City CA — 3,100 5,100 954 3,107 5,801 8,908 (2,157 ) 2007 1503 Redwood City CA — 4,800 17,300 3,794 4,818 21,076 25,894 (6,984 ) 2007 1504 Redwood City CA — 5,400 15,500 10,450 5,418 25,932 31,350 (4,889 ) 2007 1505 Redwood City CA — 3,000 3,500 826 3,006 4,115 7,121 (1,842 ) 2007 1506 Redwood City CA — 6,000 14,300 14,556 6,018 28,230 34,248 (6,207 ) 2007 1507 Redwood City CA — 1,900 12,800 13,559 1,912 26,347 28,259 (8,935 ) 2007 1508 Redwood City CA — 2,700 11,300 12,120 2,712 23,408 26,120 (7,055 ) 2007 1509 Redwood City CA — 2,700 10,900 10,476 2,712 20,841 23,553 (8,950 ) 2007 1510 Redwood City CA — 2,200 12,000 5,515 2,212 13,621 15,833 (3,912 ) 2007 1511 Redwood City CA — 2,600 9,300 2,031 2,612 10,764 13,376 (2,992 ) 2007 1512 Redwood City CA — 3,300 18,000 12,425 3,300 30,425 33,725 (9,824 ) 2007 1513 Redwood City CA — 3,300 17,900 14,794 3,326 32,668 35,994 (11,920 ) 2007 0678 San Diego CA — 2,603 11,051 3,143 2,603 14,194 16,797 (4,995 ) 2002 0679 San Diego CA — 5,269 23,566 21,860 5,669 41,726 47,395 (13,463 ) 2002 0837 San Diego CA — 4,630 2,028 8,982 4,630 7,850 12,480 (4,139 ) 2006 0838 San Diego CA — 2,040 903 5,111 2,040 6,014 8,054 (2,710 ) 2006 0839 San Diego CA — 3,940 3,184 5,733 4,047 5,591 9,638 (2,245 ) 2006 0840 San Diego CA — 5,690 4,579 789 5,830 4,802 10,632 (1,747 ) 2006 1418 San Diego CA — 11,700 31,243 6,408 11,700 37,651 49,351 (14,414 ) 2007 1420 San Diego CA — 6,524 — 5,327 6,524 5,327 11,851 — 2007 1421 San Diego CA — 7,000 33,779 1,209 7,000 34,988 41,988 (10,073 ) 2007 1422 San Diego CA — 7,179 3,687 4,681 7,336 8,211 15,547 (2,911 ) 2007 1423 San Diego CA — 8,400 33,144 466 8,400 33,610 42,010 (9,467 ) 2007 1514 San Diego CA — 5,200 — — 5,200 — 5,200 — 2007 1558 San Diego CA — 7,740 22,654 3,461 7,888 24,736 32,624 (7,051 ) 2007 1947 San Diego CA — 2,581 10,534 4,164 2,581 14,698 17,279 (3,905 ) 2011 1948 San Diego CA — 5,879 25,305 2,619 5,879 26,741 32,620 (7,767 ) 2011 2197 San Diego CA — 7,621 3,913 8,150 7,626 10,767 18,393 (2,868 ) 2007 2476 San Diego CA — 7,661 9,918 5,388 7,661 15,306 22,967 (194 ) 2016 2477 San Diego CA — 9,207 14,613 6,543 9,207 21,156 30,363 (1,779 ) 2016 2478 San Diego CA — 6,000 — 517 6,000 517 6,517 — 2016 2617 San Diego CA — 2,734 5,195 8,494 2,734 13,689 16,423 — 2017 2618 San Diego CA — 4,100 12,395 69 4,100 12,464 16,564 (860 ) 2017 2622 San Diego CA — — — 5,899 — 5,899 5,899 — 2004 2872 San Diego CA — 10,120 38,351 1,265 10,120 39,616 49,736 (121 ) 2018 2873 San Diego CA — 6,052 14,122 — 6,052 14,122 20,174 (52 ) 2018 1407 South San Francisco CA — 7,182 12,140 9,752 7,186 13,134 20,320 (4,173 ) 2007 1408 South San Francisco CA — 9,000 17,800 1,460 9,000 18,237 27,237 (5,160 ) 2007 1409 South San Francisco CA — 18,000 38,043 5,248 18,000 43,291 61,291 (12,226 ) 2007 1410 South San Francisco CA — 4,900 18,100 6,506 4,900 24,606 29,506 (5,067 ) 2007 1411 South San Francisco CA — 8,000 27,700 2,812 8,000 30,512 38,512 (7,701 ) 2007 1412 South San Francisco CA — 10,100 22,521 2,222 10,100 24,504 34,604 (6,981 ) 2007 1413 South San Francisco CA — 8,000 28,299 7,826 8,000 36,125 44,125 (8,450 ) 2007 1414 South San Francisco CA — 3,700 20,800 2,248 3,700 22,845 26,545 (6,881 ) 2007 1430 South San Francisco CA — 10,700 23,621 9,224 10,700 31,485 42,185 (6,318 ) 2007 1431 South San Francisco CA — 7,000 15,500 5,096 7,000 20,596 27,596 (4,608 ) 2007 1435 South San Francisco CA — 13,800 42,500 37,058 13,800 79,558 93,358 (22,319 ) 2008 1436 South San Francisco CA — 14,500 45,300 36,935 14,500 82,235 96,735 (22,804 ) 2008 1437 South San Francisco CA — 9,400 24,800 50,276 9,400 73,506 82,906 (18,430 ) 2008 Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) 1439 South San Francisco CA — 11,900 68,848 95 11,900 68,943 80,843 (19,674 ) 2007 1440 South San Francisco CA — 10,000 57,954 448 10,000 58,402 68,402 (16,543 ) 2007 1441 South San Francisco CA — 9,300 43,549 8 9,300 43,557 52,857 (12,432 ) 2007 1442 South San Francisco CA — 11,000 47,289 91 11,000 47,380 58,380 (13,561 ) 2007 1443 South San Francisco CA — 13,200 60,932 2,642 13,200 63,574 76,774 (17,643 ) 2007 1444 South San Francisco CA — 10,500 33,776 360 10,500 34,136 44,636 (9,874 ) 2007 1445 South San Francisco CA — 10,600 34,083 9 10,600 34,092 44,692 (9,730 ) 2007 1458 South San Francisco CA — 10,900 20,900 8,704 10,909 24,372 35,281 (8,268 ) 2007 1459 South San Francisco CA — 3,600 100 276 3,600 376 3,976 (94 ) 2007 1460 South San Francisco CA — 2,300 100 145 2,300 245 2,545 (100 ) 2007 1461 South San Francisco CA — 3,900 200 267 3,900 467 4,367 (200 ) 2007 1462 South San Francisco CA — 7,117 600 4,939 7,117 5,191 12,308 (2,438 ) 2007 1463 South San Francisco CA — 10,381 2,300 20,647 10,381 20,599 30,980 (4,210 ) 2007 1464 South San Francisco CA — 7,403 700 11,638 7,403 7,987 15,390 (1,670 ) 2007 1468 South San Francisco CA — 10,100 24,013 4,774 10,100 26,642 36,742 (8,863 ) 2007 1480 South San Francisco CA — 32,210 3,110 11,653 32,210 14,763 46,973 — 2007 1559 South San Francisco CA — 5,666 5,773 12,970 5,695 18,645 24,340 (12,153 ) 2007 1560 South San Francisco CA — 1,204 1,293 2,627 1,210 3,799 5,009 (1,421 ) 2007 1983 South San Francisco CA — 8,648 — 95,927 8,648 95,927 104,575 (10,795 ) 2016 1984 South San Francisco CA — 7,845 — 84,580 7,844 84,581 92,425 (6,250 ) 2017 1985 South San Francisco CA — 6,708 — 120,735 6,708 120,735 127,443 (7,119 ) 2017 1986 South San Francisco CA — 6,708 — 106,278 6,708 106,278 112,986 (4,392 ) 2018 1987 South San Francisco CA — 8,544 — 143,536 8,544 143,536 152,080 — 2011 1988 South San Francisco CA — 10,120 — 11,437 10,120 11,437 21,557 — 2011 1989 South San Francisco CA — 9,169 — 22,380 9,169 22,380 31,549 — 2011 2553 South San Francisco CA — 2,897 8,691 2,824 2,897 11,515 14,412 (1,297 ) 2015 2554 South San Francisco CA — 995 2,754 1,930 995 4,684 5,679 (276 ) 2015 2555 South San Francisco CA — 2,202 10,776 578 2,202 11,354 13,556 (1,048 ) 2015 2556 South San Francisco CA — 2,962 15,108 210 2,962 15,318 18,280 (1,356 ) 2015 2557 South San Francisco CA — 2,453 13,063 3,616 2,453 16,679 19,132 (1,418 ) 2015 2558 South San Francisco CA — 1,163 5,925 58 1,163 5,983 7,146 (531 ) 2015 2614 South San Francisco CA — 5,079 8,584 1,330 5,083 9,261 14,344 (3,110 ) 2007 2615 South San Francisco CA — 7,984 13,495 3,243 7,988 16,719 24,707 (6,514 ) 2007 2616 South San Francisco CA — 8,355 14,121 1,876 8,358 14,565 22,923 (4,722 ) 2007 2624 South San Francisco CA — 25,502 42,910 5,081 25,502 47,945 73,447 (2,064 ) 2017 2870 South San Francisco CA — 23,297 41,797 5,324 23,297 47,121 70,418 — 2018 2871 South San Francisco CA — 20,293 41,262 12,476 20,293 53,738 74,031 (125 ) 2018 9999 Denton TX — 100 — — 100 — 100 — 2016 2630 Lexington MA — 16,411 49,681 415 16,411 50,096 66,507 (2,502 ) 2017 2631 Lexington MA — 7,759 142,081 14,269 7,759 156,350 164,109 (4,724 ) 2017 2632 Lexington MA — — 21,390 21,055 — 42,445 42,445 — 2018 2011 Durham NC 5,399 448 6,152 21,524 448 27,639 28,087 (6,291 ) 2011 2030 Durham NC — 1,920 5,661 34,187 1,920 39,848 41,768 (8,964 ) 2012 0464 Salt Lake City UT — 630 6,921 2,562 630 9,483 10,113 (3,571 ) 2001 0465 Salt Lake City UT — 125 6,368 68 125 6,436 6,561 (2,527 ) 2001 0466 Salt Lake City UT — — 14,614 7 — 14,621 14,621 (5,200 ) 2001 0507 Salt Lake City UT — 280 4,345 231 280 4,350 4,630 (1,593 ) 2002 0799 Salt Lake City UT — — 14,600 90 — 14,690 14,690 (4,343 ) 2005 1593 Salt Lake City UT — — 23,998 — — 23,998 23,998 (6,121 ) 2010 $ 5,399 $ 833,745 $ 1,976,797 $ 1,461,433 $ 835,829 $ 3,347,365 $ 4,183,194 $ (647,977 ) Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) Medical office 0638 Anchorage AK $ — $ 1,456 $ 10,650 $ 12,360 $ 1,456 $ 22,957 $ 24,413 $ (7,603 ) 2006 2572 Springdale AR — — 27,714 — — 27,714 27,714 (1,833 ) 2016 0520 Chandler AZ — 3,669 13,503 6,460 3,749 18,696 22,445 (5,558 ) 2002 2040 Mesa AZ — — 17,314 1,303 — 18,431 18,431 (2,990 ) 2012 0468 Oro Valley AZ — 1,050 6,774 983 1,084 7,148 8,232 (3,093 ) 2001 0356 Phoenix AZ — 780 3,199 2,795 865 4,987 5,852 (2,228 ) 1999 0470 Phoenix AZ — 280 877 166 280 1,008 1,288 (386 ) 2001 1066 Scottsdale AZ — 5,115 14,064 4,215 4,839 17,150 21,989 (5,695 ) 2006 2021 Scottsdale AZ — — 12,312 2,153 — 14,238 14,238 (4,586 ) 2012 2022 Scottsdale AZ — — 9,179 1,684 — 10,713 10,713 (3,598 ) 2012 2023 Scottsdale AZ — — 6,398 1,597 — 7,860 7,860 (2,380 ) 2012 2024 Scottsdale AZ — — 9,522 905 — 10,427 10,427 (2,930 ) 2012 2025 Scottsdale AZ — — 4,102 1,805 — 5,756 5,756 (1,999 ) 2012 2026 Scottsdale AZ — — 3,655 2,112 — 5,692 5,692 (1,389 ) 2012 2027 Scottsdale AZ — — 7,168 2,179 — 9,230 9,230 (2,627 ) 2012 2028 Scottsdale AZ — — 6,659 3,658 — 10,317 10,317 (2,384 ) 2012 0453 Tucson AZ — 215 6,318 1,464 326 7,113 7,439 (3,710 ) 2000 0556 Tucson AZ — 215 3,940 1,613 267 5,073 5,340 (1,783 ) 2003 1041 Brentwood CA — — 30,864 3,135 309 32,911 33,220 (10,485 ) 2006 1200 Encino CA — 6,151 10,438 4,890 6,646 13,427 20,073 (5,175 ) 2006 0436 Murietta CA — 400 9,266 4,755 638 12,319 12,957 (6,168 ) 1999 0239 Poway CA — 2,700 10,839 4,239 2,887 12,603 15,490 (6,904 ) 1997 2654 Riverside CA — 2,758 9,908 214 2,758 10,122 12,880 (443 ) 2017 0318 Sacramento CA — 2,860 37,566 27,503 2,911 65,005 67,916 (14,223 ) 1998 2404 Sacramento CA — 1,268 5,109 594 1,299 5,672 6,971 (926 ) 2015 0234 San Diego CA — 2,848 5,879 1,450 3,009 4,981 7,990 (3,361 ) 1997 0235 San Diego CA — 2,863 8,913 2,913 3,068 8,154 11,222 (5,437 ) 1997 0236 San Diego CA — 4,619 19,370 4,023 4,711 16,004 20,715 (9,933 ) 1997 0421 San Diego CA — 2,910 19,984 16,349 2,964 34,960 37,924 (10,037 ) 1999 0564 San Jose CA — 1,935 1,728 2,756 1,935 3,283 5,218 (1,476 ) 2003 0565 San Jose CA — 1,460 7,672 958 1,460 8,149 9,609 (3,215 ) 2003 0659 Los Gatos CA — 1,718 3,124 662 1,758 3,632 5,390 (1,487 ) 2000 0439 Valencia CA — 2,300 6,967 4,054 2,404 8,855 11,259 (4,035 ) 1999 1211 Valencia CA — 1,344 7,507 797 1,383 7,965 9,348 (2,552 ) 2006 0440 West Hills CA — 2,100 11,595 4,472 2,259 12,284 14,543 (6,231 ) 1999 0728 Aurora CO — — 8,764 3,082 — 9,273 9,273 (3,701 ) 2005 1196 Aurora CO — 210 12,362 7,310 210 18,828 19,038 (4,677 ) 2006 1197 Aurora CO — 200 8,414 5,729 285 13,482 13,767 (3,935 ) 2006 0882 Colorado Springs CO — — 12,933 11,273 — 19,512 19,512 (5,300 ) 2006 1199 Denver CO — 493 7,897 1,865 622 9,367 9,989 (3,916 ) 2006 0808 Englewood CO — — 8,616 9,472 11 16,904 16,915 (7,304 ) 2005 0809 Englewood CO — — 8,449 4,510 — 11,508 11,508 (4,680 ) 2005 0810 Englewood CO — — 8,040 13,144 — 18,828 18,828 (5,465 ) 2005 0811 Englewood CO — — 8,472 5,951 — 12,747 12,747 (4,403 ) 2005 2658 Highlands Ranch CO — 1,637 10,063 — 1,637 10,063 11,700 (387 ) 2017 0812 Littleton CO — — 4,562 2,561 257 5,816 6,073 (2,497 ) 2005 0813 Littleton CO — — 4,926 2,326 106 6,456 6,562 (2,375 ) 2005 0570 Lone Tree CO — — — 20,148 — 19,410 19,410 (7,306 ) 2003 0666 Lone Tree CO — — 23,274 3,384 — 25,328 25,328 (8,783 ) 2000 2233 Lone Tree CO — — 6,734 30,176 — 37,573 37,573 (4,704 ) 2014 1076 Parker CO — — 13,388 1,112 8 14,240 14,248 (4,728 ) 2006 0510 Thornton CO — 236 10,206 4,332 454 13,741 14,195 (5,710 ) 2002 0434 Atlantis FL — — 2,027 462 5 2,269 2,274 (1,152 ) 1999 0435 Atlantis FL — — 2,000 1,190 — 2,578 2,578 (1,210 ) 1999 0602 Atlantis FL — 455 2,231 1,006 455 2,879 3,334 (1,079 ) 2000 0604 Englewood FL — 170 1,134 495 226 1,346 1,572 (561 ) 2000 0609 Kissimmee FL — 788 174 649 788 721 1,509 (290 ) 2000 0610 Kissimmee FL — 481 347 790 494 901 1,395 (484 ) 2000 0671 Kissimmee FL — — 7,574 2,637 — 8,483 8,483 (3,016 ) 2000 0603 Lake Worth FL — 1,507 2,894 1,807 1,507 4,562 6,069 (2,211 ) 2000 0612 Margate FL — 1,553 6,898 1,811 1,553 8,364 9,917 (3,025 ) 2000 0613 Miami FL — 4,392 11,841 5,072 4,392 14,740 19,132 (5,581 ) 2000 2202 Miami FL — — 13,123 4,918 — 17,903 17,903 (3,791 ) 2014 2203 Miami FL — — 8,877 3,245 — 12,111 12,111 (2,243 ) 2014 1067 Milton FL — — 8,566 356 — 8,903 8,903 (2,781 ) 2006 2577 Naples FL — — 29,186 97 — 29,283 29,283 (1,805 ) 2016 2578 Naples FL — — 18,819 433 — 19,252 19,252 (989 ) 2016 0563 Orlando FL — 2,144 5,136 14,659 11,769 8,479 20,248 (4,606 ) 2003 0833 Pace FL — — 10,309 3,528 26 11,517 11,543 (3,302 ) 2006 0834 Pensacola FL — — 11,166 478 — 11,644 11,644 (3,612 ) 2006 0614 Plantation FL — 969 3,241 1,754 1,017 4,246 5,263 (1,638 ) 2000 0673 Plantation FL — 1,091 7,176 2,002 1,091 8,724 9,815 (2,970 ) 2002 2579 Punta Gorda FL — — 9,379 — — 9,379 9,379 (559 ) 2016 2833 St. Petersburg FL — — 13,754 10,904 — 22,810 22,810 (6,704 ) 2006 2836 Tampa FL — 1,967 6,602 7,747 2,425 11,056 13,481 (4,844 ) 2006 1058 Blue Ridge GA — — 3,231 260 — 3,473 3,473 (1,030 ) 2006 2576 Statesboro GA — — 10,234 120 — 10,354 10,354 (823 ) 2016 1065 Marion IL — 99 11,538 2,075 100 13,184 13,284 (3,883 ) 2006 1057 Newburgh IN — — 14,019 5,383 — 19,394 19,394 (5,950 ) 2006 2039 Kansas City KS — 440 2,173 17 448 2,182 2,630 (438 ) 2012 2043 Overland Park KS — — 7,668 947 — 8,615 8,615 (1,603 ) 2012 0483 Wichita KS — 530 3,341 713 530 3,617 4,147 (1,323 ) 2001 1064 Lexington KY — — 12,726 1,381 — 13,863 13,863 (4,851 ) 2006 Encumbrances at December 31, 2018 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (2) Year Acquired/ Constructed City State Land Buildings and Improvements Land Buildings and Improvements Total (1) 0735 Louisville KY — 936 8,426 8,002 1,232 13,584 14,816 (10,052 ) 2005 0737 Louisville KY — 835 27,627 7,344 878 33,344 34,222 (12,665 ) 2005 0738 Louisville KY — 780 8,582 6,189 851 12,514 13,365 (8,055 ) 2005 0739 Louisville KY — 826 13,814 1,992 832 14,277 15,109 (5,127 ) 2005 2834 Louisville KY — 2,983 13,171 5,188 2,991 17,068 20,059 (7,916 ) 2005 1944 Louisville KY — 788 2,414 — 788 2,414 3,202 (773 ) 2010 1945 Louisville KY — 3,255 28,644 1,393 3,291 29,700 32,991 (8,126 ) 2010 1946 Louisville KY — 430 6,125 197 430 6,322 6,752 (1,682 ) 2010 2237 Louisville KY — 1,519 15,386 3,741 1,618 19,022 20,640 (3,185 ) 2014 2238 Louisville KY — 1,334 12,172 1,786 1,511 13,701 15,212 (2,590 ) 2014 2239 Louisville KY — 1,644 10,832 5,748 2,041 16,183 18,224 (2,886 ) 2014 1324 Haverhill MA — 800 8,537 2,327 869 9,128 9,997 (2,763 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
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 revenues 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 variable interest entity (“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. Criterion (iii) above is generally applied to limited partnerships and similarly structured entities by assessing whether a simple majority of the limited partners hold substantive rights to participate in the significant decisions of the entity or have the ability to remove the decision maker or liquidate the entity without cause. If neither of those criteria are met, the entity is a VIE. The designation of an entity as a VIE should be reassessed upon certain events, including, but not limited to: (i) a change to the terms or in the ability of a party to exercise its participation of kick-out rights, (ii) a change to the capitalization structure of the entity, or (iii) acquisitions or sales of interests that constitute a change in control. 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 VIE 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 include, 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, its ability to manage its ownership interest relative to the other interest holders, 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 by the majority interest holder. The assessment of limited partners’ rights and their impact on the control of a joint venture should be made at inception of the joint venture and
Revenue Recognition	Revenue Recognition Lease Classification At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses the terms and conditions to determine the proper lease classification. For leases entered into prior to January 1, 2019, 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”). Concurrent with the Company's adoption of Accounting Standards Update ("ASU") No. 2016-02, Leases (“ASU 2016-02”) on January 1, 2019, the Company will begin classifying a lease entered into subsequent to adoption as an operating lease if none of the following criteria are met: (i) transfer of ownership to the lessee by the end of the lease term, (ii) lessee has a purchase option during or at the end of the lease term that it is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic life of the underlying asset, (iv) the present value of future minimum lease payments is equal to substantially all of the fair value of the underlying asset, or (v) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term. Rental and Related Revenues 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 complete. 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; • if the tenant improvements are expected to have significant residual value at the end of the lease term; • the responsible party for construction cost overruns; and • which party constructs or directs the construction of the improvements. 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 in rental and related revenues, 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 Fees and Services 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, in advance. Revenue for certain care related services is recognized as services are provided and is billed monthly in arrears. Income from Direct Financing Leases 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. Interest Income 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 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. Gain (loss) on sales of real estate, net The Company recognizes a gain (loss) on sale of real estate when the criteria for an asset to be derecognized are met, which include when: (i) a contract exists, (ii) the buyer obtains control of the asset, and (iii) it is probable that the Company will receive substantially all of the consideration to which it is entitled. These criteria are generally satisfied at the time of sale.
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 acquisitions are generally classified as asset acquisitions for which the Company records identifiable assets acquired, liabilities assumed and any associated noncontrolling interests at cost on a relative fair value basis. In addition, for such asset acquisitions, no goodwill is recognized, third party transaction costs are capitalized and any associated contingent consideration is generally recorded when the contingency is resolved. 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 such 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. 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. Concurrent with the Company's adoption of ASU 2016-02 on January 1, 2019, the Company elected to recognize expense associated with short-term leases (those with a noncancellable lease term of 12 months or less) under which the Company is the lessee on a straight-line basis and not recognize those leases on its consolidated balance sheets. For leases other than short-term operating leases under which the Company is the lessee, such as ground leases and corporate office leases, the Company recognizes a right-of-use asset and related lease liability on its consolidated balance sheet at inception of the lease. The lease liability is calculated as the sum of: (i) the present value of minimum lease payments at lease commencement (discounted using the Company's secured incremental borrowing rate) and (ii) the present value of amounts probable of being paid under any residual value guarantees. The right-of-use asset is calculated as the lease liability, adjusted for the following: (i) any lease payments made to the lessor at or before the commencement date, minus any lease incentives received and (ii) any initial direct costs incurred by the Company.
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 reflect external market factors and are probability-weighted to reflect multiple possible cash-flow scenarios, including selling the assets at various points in the future. Further, the analysis considers the impact, if any, of master lease agreements on cash flows, which 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 exceeds 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. When testing goodwill for impairment, if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company recognizes an impairment loss for the amount by which the carrying value, including goodwill, exceeds the reporting unit’s fair value.
Assets Held-for-Sale and Discontinued Operations	Assets Held for Sale and Discontinued Operations The Company classifies a real estate property as held for sale when: (i) management has approved the disposal, (ii) the property is available for sale in its present condition, (iii) an active program to locate a buyer has been initiated, (iv) it is probable that the property will be disposed of within one year, (v) the property is being marketed at a reasonable price relative to its fair value, and (vi) it is unlikely that the disposal plan will significantly change or be withdrawn. A discontinued operation represents: (i) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on the Company’s operations and financial results or (ii) an acquired business that is classified as held for sale on the date of acquisition. Examples of a strategic shift include disposing of: (i) a separate major line of business, (ii) a separate major geographic area of operations, or (iii) other major parts of the Company.
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, the fair value of assets contributed to the joint venture, 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 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 and Restricted Cash 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 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.
Restricted Cash	Cash and Cash Equivalents and Restricted Cash 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 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 unconsolidated 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). 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. has 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 generally 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 that 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 federal, state and local 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.
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 effective interest method. Debt issuance costs related to line of credit arrangements are deferred, included in other assets, and amortized to interest expense on a straight-line basis over the remaining term of the related line of credit arrangement. 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) senior housing triple-net, (ii) SHOP, (iii) life science and (iv) medical office.
Noncontrolling Interests	Noncontrolling Interests Arrangements with noncontrolling interest holders are assessed for appropriate balance sheet classification based on the redemption and other rights held by the noncontrolling interest holder. Net income (loss) attributable to a noncontrolling interest is included in net income (loss) 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 (expense), net in the consolidated statements of operations.
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 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 (loss) 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 Adopted Between May 2014 and February 2017, the Financial Accounting Standards Board (“FASB”) issued four 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”), (iii) ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”), and (iv) ASU No. 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). 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. ASU 2017-05 clarifies the scope of the FASB’s guidance on nonfinancial asset derecognition and aligns the accounting for partial sales of nonfinancial assets and in-substance nonfinancial assets with the guidance in ASU 2014-09. The Company adopted the Revenue ASUs effective January 1, 2018 and utilized a modified retrospective adoption approach, resulting in a cumulative-effect adjustment to equity of $79 million as of January 1, 2018. Under the Revenue ASUs, the Company also elected to utilize a practical expedient which allows the Company to only reassess contracts that were not completed as of the adoption date, rather than all historical contracts. As the primary source of revenue for the Company is generated through leasing arrangements, for which timing and recognition of revenue will be the same whether accounted for under the Revenue ASUs or lease accounting guidance (see discussion below), the impact of the Revenue ASUs, upon and subsequent to adoption, is generally limited to the following: • Prior to the adoption of the Revenue ASUs, the Company recognized a gain on sale of real estate using the full accrual method when collectibility of the sales price was reasonably assured, the Company was not obligated to perform additional activities that may be considered significant, the initial investment from the buyer was sufficient and other profit recognition criteria had been satisfied. The Company deferred all or a portion of a gain on sale of real estate if the requirements for gain recognition were not met at the time of sale. Subsequent to adopting the Revenue ASUs on January 1, 2018, the Company began recognizing a gain on sale of real estate upon transferring control of the asset to the purchaser, which is generally satisfied at the time of sale. In conjunction with its adoption of the Revenue ASUs, the Company reassessed its historical partial sale of real estate transactions to determine which transactions, if any, were not completed contracts (i.e., the transaction did not qualify for sale treatment under previous guidance). The Company concluded that it had one such material transaction, its partial sale of RIDEA II in the first quarter of 2017 (which was not a completed sale under historical guidance as of the Company's adoption date due to a minor obligation related to the interest sold). In accordance with the Revenue ASUs, the Company recorded its retained 40% equity investment at fair value as of the sale date. As a result, the Company recorded an adjustment to equity as of January 1, 2018 (under the modified retrospective transition approach) representing a step-up in the fair value of its equity investment in RIDEA II of $107 million (to a carrying value of $121 million as of January 1, 2018) and a $30 million impairment charge to decrease the carrying value to the sales price of the investment (see Note 5). The Company completed the sale of its equity investment in June 2018 and no longer holds an economic interest in RIDEA II. • The Company generally expects that the new guidance will result in certain transactions qualifying as sales of real estate at an earlier date than under historical accounting guidance. • The Company, along with its joint venture partners and independent SHOP operators, provide certain ancillary services to SHOP residents that are not contemplated in the lease with each resident (i.e., guest meals, concierge services, pharmacy services, etc.). These services are provided and paid for in addition to the standard services included in each resident lease (i.e., room and board, standard meals, etc.). The Company bills residents for ancillary services one month in arrears and recognizes revenue as the services are provided, as the Company has no continuing performance obligation related to those services. Included within resident fees and services for the years ended December 31, 2018, 2017 and 2016 is $40 million , $38 million and $51 million , respectively, of ancillary service revenue. Additionally, during the year ended December 31, 2018, the Company adopted the following ASUs: • ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”) and ASU No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (“ASU 2018-03”). The core principle of the amendments in ASU 2016-01 and ASU 2018-03 involves the measurement of equity investments (except those accounted for under the equity method of accounting or those that result in consolidation) at fair value and the recognition of changes in fair value of those investments during each reporting period in net income (loss). As a result, ASU 2016-01 and ASU 2018-03 eliminate the cost method of accounting for equity securities that do not have readily determinable fair values. Pursuant to the new guidance, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The adoption of ASU 2016-01 and 2018-03 did not have a material impact to the Company's consolidated financial position, results of operations, cash flows, or disclosures. • 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. Historical guidance does not require recognition of tax consequences until the asset is eventually sold to a third party. The adoption of ASU 2016-16 did not have a material impact to the Company's consolidated financial position, results of operations, cash flows, or disclosures. On January 1, 2017 the Company adopted ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”) which narrows the FASB’s definition of a business and provides a framework that gives entities a basis for making reasonable judgments about whether a transaction involves an asset, or a group of assets, or a business. ASU 2017-01 states that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. If this initial test is not met, a set cannot be considered a business unless it includes an acquired input and a substantive process that together significantly contribute to the ability to create outputs. 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. As a result of prospectively adopting ASU 2017-01, the majority of the Company’s real estate acquisitions subsequent to January 1, 2017 are classified as asset acquisitions for which the Company records identifiable assets acquired, liabilities assumed and any associated noncontrolling interests at cost on a relative fair value basis. In addition, for such asset acquisitions, no goodwill is recognized, third party transaction costs are capitalized and any associated contingent consideration is recorded when the contingency is resolved. Not Yet Adopted Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 (codified under Accounting Standards Codification (“ASC”) 842) amends the current accounting for leases to: (i) require lessees to put most leases on their balance sheets (not required for short-term leases with lease terms of 12 months or less), but continue recognizing expenses on their income statements in a manner similar to requirements under prior accounting guidance, (ii) eliminate real estate specific lease provisions, and (iii) modify the classification criteria and accounting for sales-type leases for lessors. Additionally, ASU 2016-02 provides a practical expedient, which the Company elected, that allows an entity to not reassess the following upon adoption (must be elected as a group): (i) whether an expired or existing contract contains a lease arrangement, (ii) lease classification related to expired or existing lease arrangements, or (iii) whether costs incurred on expired or existing leases qualify as initial direct costs. As a result of adopting ASU 2016-02 on January 1, 2019 using the modified retrospective transition approach, the Company will capitalize fewer costs related to the drafting and negotiation of its lease agreements. Additionally, the Company will recognize all of its significant operating leases for which it is the lessee, including corporate office leases, equipment leases, and ground leases, on its consolidated balance sheets through a lease liability and corresponding right-of-use asset. As such, the Company expects to recognize a lease liability between $130 million and $165 million and right-of-use asset between $145 million and $180 million (lease liability, net of the existing accrued straight-line rent liability balance and adjusted for unamortized above/below market ground lease intangibles) during the first quarter of 2019. Under ASU 2016-02, a practical expedient was offered to lessees to make a policy election, which the Company elected, to not separate lease and nonlease components, but rather account for the combined components as a single lease component under ASC 842. In July 2018, the FASB issued ASU No. 2018-11, Leases - Targeted Improvements (“ASU 2018-11”), which provides lessors with a similar option to elect a practical expedient allowing them to not separate lease and nonlease components in a contract for the purpose of revenue recognition and disclosure. This practical expedient is limited to circumstances in which: (i) the timing and pattern of transfer are the same for the nonlease component and the related lease component and (ii) the lease component, if accounted for separately, would be classified as an operating lease. This practical expedient causes an entity to assess whether a contract is predominantly lease or service based and recognize the entire contract under the relevant accounting guidance (i.e., predominantly lease-based would be accounted for under ASU 2016-02 and predominantly service-based would be accounted for under the Revenue ASUs). The Company elected this practical expedient as well and, as a result, beginning January 1, 2019, the Company will recognize revenue from its senior housing triple-net, medical office, and life science segments under ASC 842 and revenue from its SHOP segment under the Revenue ASUs (codified under ASC 606). In conjunction with reaching the conclusions above, the Company concluded it was appropriate (under ASC 205, Presentation of Financial Statements ) to reclassify amounts previously classified as revenue from tenant recoveries (within the senior housing triple-net, life science, and medical office segments) and present them combined with rental and related revenues within the statements of operations. The Company implemented this change during the fourth quarter of 2018. Included within rental and related revenues for the years ended December 31, 2018, 2017 and 2016 is $157 million , $142 million and $134 million , respectively, of tenant recoveries. In December 2018, the FASB issued ASU No. 2018-20, Narrow Scope Improvements for Lessors (“ASU 2018-20”), which requires that a lessor: (i) exclude certain lessor costs paid directly by a lessee to third parties on behalf of the lessor from a lessor's measurement of variable lease revenue and associated expense (i.e., no gross up of revenue and expense for these costs), and (ii) include lessor costs that are paid by the lessor and reimbursed by the lessee in the measurement of variable lease revenue and the associated expense (i.e., gross up revenue and expense for these costs). This is consistent with the Company’s current presentation and will not require a material change on January 1, 2019. Credit Losses. 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 over the life of the financial instrument. 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 DFLs 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. The Company is evaluating the impact of the adoption of ASU 2016-13 on January 1, 2020 to its consolidated financial position and results of operations. The following ASU has been issued, but not yet adopted, and the Company does not expect a material impact to its consolidated financial position, results of operations, cash flows, or disclosures upon adoption: • ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). ASU 2017-12 is effective for fiscal years, including interim periods within, beginning after December 15, 2018 and early adoption is permitted. For cash flow and net investment hedges existing at the date of adoption, a reporting entity must apply the amendments in ASU 2017-12 using the modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The presentation and disclosure amendments in ASU 2017-12 must be applied using a prospective approach.

Other Real Estate Property In_2

Other Real Estate Property Investments (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of real estate acquisitions (in thousands)	The following table summarizes real estate acquisitions for the year ended December 31, 2017 (in thousands): Consideration Assets Acquired Segment Cash Paid Net Liabilities Assumed Real Estate Net Intangibles SHOP $ 44,258 $ 797 $ 37,940 $ 7,115 Life science 315,255 3,524 305,760 13,019 Medical office 201,240 1,104 184,115 18,229 $ 560,753 $ 5,425 $ 527,815 $ 38,363
Schedule of capital improvements (in thousands)	The following table summarizes the Company’s expenditures for construction, tenant and other capital improvements (in thousands): Year Ended December 31, Segment 2018 2017 2016 Senior housing triple-net $ 11,311 $ 32,343 $ 49,109 SHOP 53,389 49,473 74,158 Life science 396,431 240,901 200,122 Medical office 144,694 148,926 128,308 Other 1,361 135 7,203 $ 607,186 $ 471,778 $ 458,900

Dispositions of Real Estate a_2

Dispositions of Real Estate and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Summary of assets and liabilities transferred to QCP at the Spin-Off date	Summarized financial information for discontinued operations for the year ended December 31, 2016 is as follows (in thousands): Revenues: Rental and related revenues $ 24,204 Income from direct financing leases 384,752 Total revenues 408,956 Costs and expenses: Depreciation and amortization (4,892 ) Operating (3,367 ) General and administrative (67 ) Transaction costs (86,765 ) Other income (expense), net 71 Income (loss) before income taxes 313,936 Income tax benefit (expense) (48,181 ) Total discontinued operations $ 265,755

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases, Capital [Abstract]
Summary of components of net investment in DFLs	The components of net investment in DFLs consisted of the following (dollars in thousands): December 31, 2018 2017 Minimum lease payments receivable $ 1,013,976 $ 1,062,452 Estimated residual value 507,484 504,457 Less unearned income (807,642 ) (852,557 ) Net investment in direct financing leases $ 713,818 $ 714,352 Properties subject to direct financing leases 29 29
Summary of minimum lease payments for DFLs	The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2018 (in thousands): Year Amount 2019 $ 114,970 2020 63,308 2021 63,687 2022 58,135 2023 58,570 Thereafter 655,306 $ 1,013,976
Schedule of the Company's internal ratings for DFLs	The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2018 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Senior housing triple-net $ 629,214 88 $ 278,503 $ 350,711 $ — Other non-reportable segments 84,604 12 84,604 — — $ 713,818 100 $ 363,107 $ 350,711 $ — The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2018 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 42,037 67 $ 42,037 $ — $ — Other secured 20,961 33 20,961 — — $ 62,998 100 $ 62,998 $ — $ —
Summary of future minimum lease payments for 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, 2018 (in thousands): Year Amount 2019 $ 971,417 2020 928,102 2021 853,451 2022 751,972 2023 675,537 Thereafter 2,320,847 $ 6,501,326 Future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 were as follows (in thousands): Year Amount 2019 $ 5,597 2020 5,687 2021 5,776 2022 5,862 2023 5,983 Thereafter 466,130 $ 495,035 Certain leases, including DFLs contain purchase options whereby the tenant may elect to acquire the underlying real estate. Annualized base rent from leases subject to purchase options, summarized by the year the purchase options are exercisable, are as follows (dollars in thousands): Year Annualized Base Rent (1) Number of Properties 2019 $ 23,771 10 2020 14,545 4 2021 12,747 6 2022 13,315 3 Thereafter 50,577 34 $ 114,955 57 _______________________________________ (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 interest and deferred revenues).

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of loans receivable (in thousands)	The following table summarizes the Company’s loans receivable (in thousands): December 31, 2018 2017 Real Estate Secured Other Secured Total Real Estate Secured Other Secured Total Mezzanine (1) $ — $ 21,013 $ 21,013 $ — $ 269,299 $ 269,299 Other (2) 42,037 — 42,037 188,418 — 188,418 Unamortized discounts, fees and costs — (52 ) (52 ) — (596 ) (596 ) Allowance for loan losses (1) — — — — (143,795 ) (143,795 ) $ 42,037 $ 20,961 $ 62,998 $ 188,418 $ 124,908 $ 313,326 _______________________________________ (1) At December 31, 2017, primarily related to the Company’s mezzanine loan facility to Tandem Health Care discussed below. (2) At December 31, 2018 , the Company had $73 million remaining of commitments to fund a $115 million senior living development project. At December 31, 2017, includes the U.K. Bridge Loan discussed below.
Summary of th Company's internal ratings for loans receivable	The following table summarizes the Company’s internal ratings for net investment in DFLs at December 31, 2018 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Senior housing triple-net $ 629,214 88 $ 278,503 $ 350,711 $ — Other non-reportable segments 84,604 12 84,604 — — $ 713,818 100 $ 363,107 $ 350,711 $ — The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2018 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 42,037 67 $ 42,037 $ — $ — Other secured 20,961 33 20,961 — — $ 62,998 100 $ 62,998 $ — $ —
Schedule of loans receivable secured by real estate	The following table summarizes the Company’s loan receivable secured by real estate at December 31, 2018 (dollars in thousands): Final Maturity Date Number of Loans Payment Terms Principal Amount (1) Carrying Amount 2022 1 monthly interest-only payments, accrues interest at 6.5% and secured by a senior housing facility in Washington (2) $ 42,037 $ 42,037 _______________________________________ (1) Represents future contractual principal payments to be received on loans receivable secured by real estate. (2) Contains a participation feature that allows the Company to participate in up to 20% of the appreciation of the asset through the time the loan is refinanced or repaid.

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Schedule of company owned interests in entities, accounted under equity method	The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands): Carrying Amount December 31, Entity (1) Ownership % 2018 2017 CCRC JV 49 $ 365,764 $ 400,241 RIDEA II (2) 40 — 259,651 U.K. JV (3) 49 101,735 — Life Science JVs (4) 50 - 63 — 65,581 MBK JV 50 35,435 38,005 Development JVs (5) 50 - 90 25,493 23,365 Medical Office JVs (6) 20 - 67 10,160 12,488 K&Y JVs (7) 80 1,430 1,283 Advances to unconsolidated joint ventures, net 71 226 $ 540,088 $ 800,840 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint venture. (2) In June 2018, the Company sold its equity method investment in RIDEA II (see Note 5). (3) See Note 5 for discussion of the formation of the U.K. JV and the Company’s equity method investment. (4) Includes the following unconsolidated 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% ). In November 2018, the Company acquired the outstanding equity interests and began consolidating the entities (see Note 4). (5) Includes four unconsolidated development partnerships (and the Company’s ownership percentage): (i) Vintage Park Development JV ( 85% ); (ii) Waldwick JV ( 85% ); (iii) Otay Ranch JV ( 90% ); and (iv) MBK Development JV ( 50% ). (6) Includes three unconsolidated medical office partnerships (and the Company’s ownership percentage): (i) HCP Ventures IV, LLC ( 20% ); (ii) HCP Ventures III, LLC ( 30% ); and (iii) Suburban Properties, LLC ( 67% ). (7) Includes three unconsolidated joint ventures. The following tables summarize combined financial information for the Company’s unconsolidated joint ventures (in thousands): December 31, 2018 2017 Real estate, net $ 2,128,147 $ 2,104,090 Other assets, net 479,935 928,790 Total assets $ 2,608,082 $ 3,032,880 Mortgage and other debt $ 827,622 $ 900,911 Accounts payable and other 655,177 561,523 Other partners’ capital 515,791 655,311 HCP’s capital (1) 609,492 915,135 Total liabilities and partners’ capital $ 2,608,082 $ 3,032,880 Year Ended December 31, 2018 2017 2016 Total revenues $ 642,724 $ 810,216 $ 424,134 Total operating expense (492,784 ) (643,452 ) (344,553 ) Income (loss) from discontinued operations — — 8,810 Net income (loss) (43,704 ) (42,408 ) 43,015 HCP’s share in earnings (2,594 ) 10,901 11,360 Fees earned by HCP 125 133 299 Distributions received by HCP 48,939 81,165 54,858

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2018
Intangibles
Schedule of intangible lease assets	The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2018 2017 Gross intangible lease assets $ 556,114 $ 795,305 Accumulated depreciation and amortization (251,035 ) (385,223 ) Net intangible lease assets $ 305,079 $ 410,082
Schedule of intangible lease liabilities	The following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2018 2017 Gross intangible lease liabilities $ 94,444 $ 126,212 Accumulated depreciation and amortization (39,781 ) (73,633 ) Net intangible lease liabilities $ 54,663 $ 52,579
Schedule of amortization of deferred lease costs and acquisition related intangibles	The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles (in thousands): Year Ended December 31, 2018 2017 2016 Depreciation and amortization expense related to amortization of lease-up intangibles $ 67,350 $ 76,732 $ 84,487 Rental and related revenues related to amortization of net below market lease liabilities 5,253 2,030 3,877 Operating expense related to amortization of net below market ground lease intangibles 636 740 664
Schedule of estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter	The following table summarizes the estimated annual amortization for each of the five succeeding fiscal years and thereafter (in thousands): Rental and Related Revenues (1) Operating Expense (2) Depreciation and Amortization (3) 2019 $ 4,399 $ 505 $ 50,762 2020 3,670 621 39,433 2021 3,587 738 32,214 2022 4,331 738 26,438 2023 4,269 738 24,293 Thereafter 16,521 29,901 80,812 $ 36,777 $ 33,241 $ 253,952 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related income. (2) The amortization of net below market ground lease intangibles is recorded as an increase to operating expense. (3) The amortization of lease-up intangibles is recorded to depreciation and amortization expense.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
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, 2018: July 16, 2018 (1) $ 700,000 5.375 % November 8, 2018 $ 450,000 3.750 % Year ended December 31, 2017: May 1, 2017 $ 250,000 5.625 % July 27, 2017 (2) $ 500,000 5.375 % Year ended December 31, 2016: February 1, 2016 $ 500,000 3.750 % September 15, 2016 $ 400,000 6.300 % November 30, 2016 (3) $ 500,000 6.000 % November 30, 2016 (3) $ 600,000 6.700 % _______________________________________ (1) The Company recorded a $44 million loss on debt extinguishment related to the repurchase of senior notes. (2) The Company recorded a $54 million loss on debt extinguishment related to the repurchase of senior notes. (3) The Company recorded a $46 million loss on debt extinguishment related to the repurchase of senior notes.
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, 2018 (dollars in thousands): Bank Line of Credit (1) Senior Unsecured Notes (2) Mortgage Debt (3) Total (4) Year Amount Interest Rate Amount Interest Rate 2019 $ — $ — — % $ 3,561 — % $ 3,561 2020 — 800,000 2.79 % 3,609 5.08 % 803,609 2021 80,103 — — % 10,957 5.26 % 91,060 2022 — 900,000 3.93 % 2,691 — % 902,691 2023 — 800,000 4.39 % 2,811 — % 802,811 Thereafter — 2,800,000 4.34 % 109,705 4.10 % 2,909,705 80,103 5,300,000 133,334 5,513,437 (Discounts), premium and debt costs, net — (41,450 ) 5,136 (36,314 ) $ 80,103 $ 5,258,550 $ 138,470 $ 5,477,123 _______________________________________ (1) Includes £55 million translated into USD. (2) Interest rates on the notes range from 2.79% to 6.87% with a weighted average effective rate of 4.03% and a weighted average maturity of six years. (3) Interest rates on the mortgage debt range from 2.80% to 5.91% with a weighted average effective interest rate of 4.20% and a weighted average maturity of 19 years. (4) Excludes $91 million of other debt that have no scheduled maturities. Other debt represents (i) $58 million of non-interest bearing life care bonds and occupancy fee deposits at certain of the Company's senior housing facilities and (ii) $33 million of on-demand notes from the CCRC JV which bear interest at a rate of 3.6% .

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of material commitments	The following table summarizes the Company’s material commitments, excluding debt service obligations (see Note 10) and operating leases (see Note 6), at December 31, 2018 (in thousands): Total 2019 2020-2021 2022-2023 More than Five Years Construction loan commitments (1) $ 72,654 $ 68,365 $ 4,289 $ — $ — Development commitments (2) 299,702 273,625 26,077 — — Total $ 372,356 $ 341,990 $ 30,366 $ — $ — _______________________________________ (1) Represents commitments to finance development projects. (2) Represents construction and other commitments for developments in progress.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
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, 2018 2017 2016 Dividend Reinvestment and Stock Purchase Plan 237 983 2,021 Conversion of DownREIT units 3 78 145 Exercise of stock options 120 32 133 Vesting of restricted stock units 401 419 529 Repurchase of common stock 141 157 237
Schedule of accumulated other comprehensive loss (in thousands)	The following table summarizes the Company’s accumulated other comprehensive loss (in thousands): December 31, 2018 2017 Cumulative foreign currency translation adjustment (1) $ (1,683 ) $ (6,955 ) Unrealized gains (losses) on derivatives, net (467 ) (13,950 ) Supplemental Executive Retirement plan minimum liability and other (2,558 ) (3,119 ) Total accumulated other comprehensive income (loss) $ (4,708 ) $ (24,024 ) _______________________________________ (1) See Notes 5 and 19 for a discussion of the U.K. JV transaction.

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summary financial information of reportable segment	The following tables summarize information for the reportable segments (in thousands): For the year ended December 31, 2018 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 276,091 $ 547,976 $ 395,064 $ 509,019 $ 108,133 $ — $ 1,836,283 Operating expenses (3,618 ) (414,312 ) (91,742 ) (189,859 ) (5,507 ) — (705,038 ) NOI 272,473 133,664 303,322 319,160 102,626 — 1,131,245 Adjustments to NOI (2) 2,127 2,875 (9,589 ) (2,899 ) (4,418 ) — (11,904 ) Adjusted NOI 274,600 136,539 293,733 316,261 98,208 — 1,119,341 Addback adjustments (2,127 ) (2,875 ) 9,589 2,899 4,418 — 11,904 Interest income — — — — 10,406 — 10,406 Interest expense (2,404 ) (2,725 ) (316 ) (474 ) (1,469 ) (258,955 ) (266,343 ) Depreciation and amortization (79,605 ) (104,405 ) (140,480 ) (193,710 ) (31,299 ) — (549,499 ) General and administrative — — — — — (96,702 ) (96,702 ) Transaction costs — — — — — (10,772 ) (10,772 ) Recoveries (impairments), net — (44,343 ) (7,639 ) — (3,278 ) — (55,260 ) Gain (loss) on sales of real estate, net 641 93,977 806,184 4,428 20,755 — 925,985 Loss on debt extinguishment — — — — — (44,162 ) (44,162 ) Other income (expense), net — — — — 9,605 3,711 13,316 Income tax benefit (expense) — — — — — 17,854 17,854 Equity income (loss) from unconsolidated joint ventures — — — — (2,594 ) — (2,594 ) Net income (loss) $ 191,105 $ 76,168 $ 961,071 $ 129,404 $ 104,752 $ (389,026 ) $ 1,073,474 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees. For the year ended December 31, 2017 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 313,547 $ 525,473 $ 358,816 $ 477,459 $ 116,846 $ — $ 1,792,141 Operating expenses (3,819 ) (396,491 ) (78,001 ) (183,197 ) (4,743 ) — (666,251 ) NOI 309,728 128,982 280,815 294,262 112,103 — 1,125,890 Adjustments to NOI (2) 17,098 33,227 (4,517 ) (2,952 ) (4,446 ) — 38,410 Adjusted NOI 326,826 162,209 276,298 291,310 107,657 — 1,164,300 Addback adjustments (17,098 ) (33,227 ) 4,517 2,952 4,446 — (38,410 ) Interest income — — — — 56,237 — 56,237 Interest expense (2,518 ) (7,920 ) (373 ) (506 ) (4,230 ) (292,169 ) (307,716 ) Depreciation and amortization (103,820 ) (103,162 ) (128,864 ) (169,795 ) (29,085 ) — (534,726 ) General and administrative — — — — — (88,772 ) (88,772 ) Transaction costs — — — — — (7,963 ) (7,963 ) Recoveries (impairments), net (22,590 ) — — — (143,794 ) — (166,384 ) Gain (loss) on sales of real estate, net 280,349 17,485 45,916 9,095 3,796 — 356,641 Loss on debt extinguishment — — — — — (54,227 ) (54,227 ) Other income (expense), net — — — — 50,895 (19,475 ) 31,420 Income tax benefit (expense) — — — — — 1,333 1,333 Equity income (loss) from unconsolidated joint ventures — — — — 10,901 — 10,901 Net income (loss) $ 461,149 $ 35,385 $ 197,494 $ 133,056 $ 56,823 $ (461,273 ) $ 422,634 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees. For the year ended December 31, 2016 : Segments Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 423,118 $ 686,822 $ 358,537 $ 446,280 $ 125,729 $ — $ 2,040,486 Operating expenses (6,710 ) (480,870 ) (72,478 ) (173,687 ) (4,654 ) — (738,399 ) NOI 416,408 205,952 286,059 272,593 121,075 — 1,302,087 Adjustments to NOI (2) (7,566 ) (2,686 ) (2,954 ) (3,536 ) (3,022 ) — (19,764 ) Adjusted NOI 408,842 203,266 283,105 269,057 118,053 — 1,282,323 Addback adjustments 7,566 2,686 2,954 3,536 3,022 — 19,764 Interest income — — — — 88,808 — 88,808 Interest expense (9,499 ) (29,745 ) (2,357 ) (5,895 ) (9,153 ) (407,754 ) (464,403 ) Depreciation and amortization (136,146 ) (108,806 ) (130,829 ) (161,790 ) (30,537 ) — (568,108 ) General and administrative — — — — — (103,611 ) (103,611 ) Transaction costs — — — — — (9,821 ) (9,821 ) Gain (loss) on sales of real estate, net 48,744 675 49,042 8,333 57,904 — 164,698 Loss on debt extinguishment — — — — — (46,020 ) (46,020 ) Other income (expense), net — — — — — 3,654 3,654 Income tax benefit (expense) — — — — — (4,473 ) (4,473 ) Equity income (loss) from unconsolidated joint ventures — — — — 11,360 — 11,360 Discontinued operations — — — — — 265,755 265,755 Net income (loss) $ 319,507 $ 68,076 $ 201,915 $ 113,241 $ 239,457 $ (302,270 ) $ 639,926 _______________________________________ (1) Represents rental and related revenues, resident fees and services, and income from DFLs. (2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net and termination fees.
Summary of reconciliation of company's revenues to total revenues	The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2018 2017 2016 Senior housing triple-net $ 276,091 $ 313,547 $ 423,118 SHOP 547,976 525,473 686,822 Life science 395,064 358,816 358,537 Medical office 509,019 477,459 446,280 Other non-reportable segments 118,539 173,083 214,537 Total revenues $ 1,846,689 $ 1,848,378 $ 2,129,294
Summary of reconciliation of company's assets to total assets	The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segments 2018 2017 2016 Senior housing triple-net $ 2,965,679 $ 3,515,400 $ 3,871,720 SHOP 2,173,795 2,392,130 3,135,115 Life science 4,303,471 4,154,372 3,961,623 Medical office 4,354,441 3,989,168 3,724,483 Reportable segment assets 13,797,386 14,051,070 14,692,941 Accumulated depreciation and amortization (2,915,592 ) (2,919,278 ) (2,900,060 ) Net reportable segment assets 10,881,794 11,131,792 11,792,881 Other non-reportable segment assets 1,015,854 1,904,433 2,255,712 Assets held for sale, net 108,086 417,014 927,866 Other non-segment assets 712,819 635,222 782,806 Total assets $ 12,718,553 $ 14,088,461 $ 15,759,265

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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, 2018 (units in thousands): Restricted Stock Units Weighted Average Grant Date Fair Value Unvested at January 1, 2018 1,139 $ 33.41 Granted 1,097 22.95 Vested (401 ) 32.42 Forfeited (137 ) 30.34 Unvested at December 31, 2018 1,698 27.13

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of common stock distributions	The following table shows the characterization of our annual common stock distributions per share: Year Ended December 31, 2018 2017 2016 Ordinary dividends (1) $ 0.9578 $ 1.4800 $ 1.5561 Capital gains 0.5222 — — Nondividend distributions — — 6.7089 $ 1.4800 $ 1.4800 $ 8.2650 (2) _______________________________________ (1) The 2018 amount includes $0.0164 of qualified dividend income for purposes of Code Section 1(h)(11), and $0.9414 of qualified business income for purposes of Code Section 199A. (2) Consists of $2.095 per common share of quarterly cash dividends and $6.17 per common share of stock dividends related to the Spin-Off (see Note 5).
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, 2018 2017 2016 Current Federal $ (568 ) $ 949 $ 8,525 State 4,003 1,504 8,307 Foreign 84 1,737 1,332 Total current $ 3,519 $ 4,190 $ 18,164 Deferred Federal $ (11,905 ) $ 2,730 $ (10,241 ) State (4,589 ) (5,889 ) (1,401 ) Foreign (4,879 ) (2,364 ) (2,049 ) Total deferred $ (21,373 ) $ (5,523 ) $ (13,691 ) Total income tax expense (benefit) $ (17,854 ) $ (1,333 ) $ 4,473
Schedule of reconciliation of income tax expense at statutory rates to the actual income tax expense recorded	The following table reconciles income tax expense (benefit) from continuing operations at statutory rates to actual income tax expense recorded (in thousands): Year Ended December 31, 2018 2017 2016 Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax $ (17,857 ) $ (21,085 ) $ (4,581 ) State income tax expense, net of federal tax (1,313 ) (1,222 ) 6,081 Gross receipts and margin taxes 1,580 1,716 1,847 Foreign rate differential 301 632 647 Effect of permanent differences (34 ) 6 (280 ) Return to provision adjustments (278 ) 1,597 287 Remeasurement of deferred tax assets and liabilities — 17,080 — Increase (decrease) in valuation allowance (253 ) (57 ) 472 Total income tax expense (benefit) $ (17,854 ) $ (1,333 ) $ 4,473
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, 2018 2017 2016 Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs $ 31,034 $ 31,691 $ 28,940 Net operating loss carryforward 20,559 10,720 8,784 Expense accruals and other 2,424 229 (847 ) Valuation allowance (295 ) (548 ) (606 ) Net deferred tax assets $ 53,722 $ 42,092 $ 36,271

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of 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 (in thousands, except per share data): Year Ended December 31, 2018 2017 2016 Numerator Net income (loss) from continuing operations $ 1,073,474 $ 422,634 $ 374,171 Noncontrolling interests' share in earnings (12,381 ) (8,465 ) (12,179 ) Net income (loss) attributable to HCP, Inc. 1,061,093 414,169 361,992 Less: Participating securities' share in earnings (2,669 ) (1,156 ) (1,198 ) Income (loss) from continuing operations applicable to common shares 1,058,424 413,013 360,794 Discontinued operations — — 265,755 Net income (loss) applicable to common shares $ 1,058,424 $ 413,013 $ 626,549 Numerator - Dilutive Net income (loss) applicable to common shares $ 1,058,424 $ 413,013 $ 626,549 Add: distributions on dilutive convertible units and other 6,919 — — Dilutive net income (loss) available to common shares $ 1,065,343 $ 413,013 $ 626,549 Denominator Basic weighted average shares outstanding 470,551 468,759 467,195 Dilutive potential common shares - equity awards 168 176 208 Dilutive potential common shares - DownREIT conversions 4,668 — — Diluted weighted average common shares 475,387 468,935 467,403 Basic earnings per common share Continuing operations $ 2.25 $ 0.88 $ 0.77 Discontinued operations — — 0.57 Net income (loss) applicable to common shares $ 2.25 $ 0.88 $ 1.34 Diluted earnings per common share Continuing operations $ 2.24 $ 0.88 $ 0.77 Discontinued operations — — 0.57 Net income (loss) applicable to common shares $ 2.24 $ 0.88 $ 1.34

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	The following table summarizes supplemental cash flow information (in thousands): Year Ended December 31, 2018 2017 2016 Supplemental cash flow information: Interest paid, net of capitalized interest $ 275,690 $ 309,111 $ 489,453 Income taxes paid 4,480 10,045 13,727 Capitalized interest 21,056 16,937 11,108 Supplemental schedule of non-cash investing and financing activities: Accrued construction costs 88,826 67,425 49,999 Non-cash impact of QCP Spin-Off, net — — 3,539,584 Securities transferred for debt defeasance — — 73,278 Retained equity method investment from U.K. JV transaction 104,922 — — Derecognition of U.K. Bridge Loan receivable 147,474 — — Consolidation of net assets related to U.K. Bridge Loan 106,457 — — Vesting of restricted stock units and conversion of non-managing member units into common stock 537 2,908 6,622 Net noncash impact from the consolidation of previously unconsolidated joint ventures (see Note 4) 68,293 — — Deconsolidation of noncontrolling interest in connection with RIDEA II transaction — 58,061 — Mortgages and other liabilities assumed with real estate acquisitions 8,457 5,425 82,985
Schedule of cash, cash equivalents and restricted cash	The following table summarizes cash, cash equivalents and restricted cash (in thousands): December 31, 2018 2017 Cash and cash equivalents $ 110,790 $ 55,306 Restricted cash 29,056 26,897 Cash, cash equivalents and restricted cash $ 139,846 $ 82,203

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2018
Variable Interest Entities
Schedule of variable interest entities	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, 2018 are presented below (in thousands): VIE Type Asset/Liability Type Maximum Loss Exposure and Carrying Amount (1) VIE tenants - DFLs (2) Net investment in DFLs $ 600,230 VIE tenants - operating leases (2) Lease intangibles, net and straight-line rent receivables 7,396 CCRC OpCo Investments in unconsolidated joint ventures 176,236 Unconsolidated development joint ventures Investments in unconsolidated joint ventures 15,176 Loan - seller financing Loans Receivable, net 10,000 CMBS and LLC investment Marketable debt and cost method investment 34,263 _______________________________________ (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.
Schedule of consolidated assets and liabilities of variable interest entities	Total assets at December 31, 2018 and December 31, 2017 include VIE assets as follows (in thousands): December 31, 2018 2017 Assets Building and improvements $ 1,949,582 $ 2,436,414 Developments in process 39,584 32,285 Land 151,746 227,162 Accumulated depreciation (398,143 ) (542,091 ) Net real estate 1,742,769 2,153,770 Investments in and advances to unconsolidated joint ventures 1,550 2,231 Accounts receivable, net 7,904 10,242 Cash and cash equivalents 23,772 15,861 Restricted cash 3,399 2,619 Intangible assets, net 111,333 125,475 Other assets, net 43,149 33,749 Total assets $ 1,933,876 $ 2,343,947 Liabilities Mortgage debt $ 44,598 $ 45,016 Intangible liabilities, net 19,128 10,672 Accounts payable and accrued expenses 66,736 269,280 Deferred revenue 24,215 14,432 Total liabilities $ 154,677 $ 339,400

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Schedule of concentration of credit risk	The following tables provide information regarding the Company’s concentrations with respect to Brookdale as a tenant as of and for the periods presented: Percentage of Total Assets Total Company Senior Housing Triple-Net December 31, December 31, Tenant 2018 2017 2018 2017 Brookdale (1) 6 10 27 39 Percentage of Revenues Total Company Senior Housing Triple-Net Year Ended December 31, Year Ended December 31, Tenant 2018 2017 2016 2018 2017 2016 Brookdale (1) 6 8 12 38 47 59 _______________________________________ (1) Excludes senior housing facilities operated by Brookdale in the Company’s SHOP segment as discussed below. Percentages of segment and total company revenues include partial-year revenue earned from senior housing triple-net facilities that were sold during 2018. Accordingly, the percentages of segment and total company revenues are expected to decrease in 2019. The years ended December 31, 2017 and 2016 include revenues from 64 senior housing triple-net facilities that were sold in March 2017. 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 total assets and revenues: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2018 2017 2018 2017 2016 California 34 31 26 26 26 Texas 16 14 18 17 17

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Financial Instruments, Owned, at Fair Value [Abstract]
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, 2018 (3) 2017 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 62,998 $ 62,998 $ 313,326 $ 313,242 Marketable debt securities (2) 19,202 19,202 18,690 18,690 Bank line of credit (2) 80,103 80,103 1,017,076 1,017,076 Term loan (2) — — 228,288 228,288 Senior unsecured notes (1) 5,258,550 5,302,485 6,396,451 6,737,825 Mortgage debt (2) 138,470 136,161 144,486 125,984 Other debt (2) 90,785 90,785 94,165 94,165 Interest-rate swap liabilities (2) 1,310 1,310 2,483 2,483 Cross currency swap liability (2) — — 10,968 10,968 _______________________________________ (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) During the years ended December 31, 2018 and 2017 , there were no transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments (dollars and GBP in thousands)	The following table summarizes the Company’s outstanding interest-rate contracts as of December 31, 2018 (dollars in thousands): Date Entered Maturity Date Hedge Designation Notional Pay Rate Receive Rate Fair Value (1) Interest rate: July 2005 (2) July 2020 Cash Flow $ 43,000 3.820% BMA Swap Index $ (1,310 ) _____________________________ (1) 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.

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of selected quarterly information	The following table summarizes selected quarterly information for the years ended December 31, 2018 and 2017 (in thousands, except per share amounts): Three Months Ended 2018 March 31 June 30 September 30 December 31 Total revenues $ 479,197 $ 469,551 $ 456,022 $ 441,919 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 37,331 88,375 98,908 833,600 Net income (loss) 43,237 92,928 102,926 834,383 Net income (loss) applicable to HCP, Inc. 40,232 89,942 99,371 831,548 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.08 0.19 0.21 1.75 Diluted earnings per common share 0.08 0.19 0.21 1.73 Three Months Ended 2017 March 31 June 30 September 30 December 31 Total revenues $ 492,168 $ 458,928 $ 454,023 $ 443,259 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 454,746 18,874 (12,263 ) (50,957 ) Net (loss) income 464,177 22,101 (5,720 ) (57,924 ) Net (loss) income applicable to HCP, Inc. 461,145 19,383 (7,657 ) (58,702 ) Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.98 0.04 (0.02 ) (0.13 ) Diluted earnings per common share 0.97 0.04 (0.02 ) (0.13 ) The above selected quarterly financial data includes the following significant transactions: 2018 • During the quarter ended December 31, 2018, the Company sold its Shoreline Technology Center life science campus for $1.0 billion and recognized a gain on sale of $726 million . • During the quarter ended December 31, 2018, the Company acquired the outstanding equity interests in three life science joint ventures for $92 million and recognized a gain on consolidation of $50 million . • During the quarter ended December 31, 2018, the Company sold 19 senior housing assets ( 11 senior housing triple-net assets and eight SHOP assets) for $377 million and recognized gain on sales of $40 million . • During the quarter ended December 31, 2018, the Company recognized impairment charges of $33 million related to four underperforming SHOP assets. • During the quarter ended September 30, 2018, the Company repurchased $700 million of its 5.375% senior notes due 2021 and recorded a $44 million loss on debt extinguishment. • During the quarter ended March 31, 2018, The Company recognized a £29 million ( $41 million ) loss on consolidation related to the U.K. Bridge Loan (see Notes 7 and 19). 2017 • During the quarter ended December 31, 2017, the Company recognized a $20 million net reduction of rental and related revenues and $35 million of operating expense related to the Brookdale Transactions. • During the quarter ended December 31, 2017, the Company recorded an impairment charge of $84 million related to the Tandem Mezzanine Loan. • During the quarter ended December 31, 2017, the Company recognized a tax expense of $17 million due to a remeasurement of deferred tax assets and liabilities. • During the quarter ended September 30, 2017, the Company repurchased $500 million of its 5.375% senior notes due 2021 and recorded a $54 million loss on debt extinguishment. • During the quarter ended June 30, 2017, the Company recorded an impairment charge of $57 million related to the Tandem Mezzanine Loan. • During the quarter ended March 31, 2017, the Company deconsolidated the net assets of RIDEA II and recognized a net gain on sale of $99 million . • During the quarter ended March 31, 2017, the Company sold 64 senior housing triple-net assets, resulting in a net gain on sale of $170 million . • During the quarter ended March 31, 2017, the Company sold its Four Seasons Notes, which generated a £42 million ( $51 million ) gain on sale.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2019	Jan. 01, 2018	Jan. 31, 2017
Accounting Policies [Abstract]
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
Schedule of Equity Method Investments [Line Items]
HCP’s capital	$ 5,944,439	$ 5,301,005
RIDEA II
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	40.00%					40.00%
Fair value of equity investment						$ 107,000
Equity method investments	$ 0	259,651				$ 121,000
ASU 2014-09
Schedule of Equity Method Investments [Line Items]
HCP’s capital					$ 79,000
Difference between Revenue Guidance in Effect before and after Topic 606 | ASU 2014-09
Schedule of Equity Method Investments [Line Items]
Cumulative effect of change on beginning retained earnings					$ 30,000
Ancillary Service Revenue | ASU 2014-09
Schedule of Equity Method Investments [Line Items]
Lease revenue	40,000	38,000	$ 51,000
Rental and related revenues, tenant recoveries
Schedule of Equity Method Investments [Line Items]
Lease revenue	$ 157,000	$ 142,000	$ 134,000
Forecast | Minimum | ASU 2016-02
Schedule of Equity Method Investments [Line Items]
Lease liabilities				$ 130,000
Right-of-use asset				145,000
Forecast | Maximum | ASU 2016-02
Schedule of Equity Method Investments [Line Items]
Lease liabilities				165,000
Right-of-use asset				$ 180,000

Master Transactions and Coope_2

Master Transactions and Cooperation Agreement with Brookdale (Details) $ in Thousands	Nov. 01, 2017USD ($)property	Apr. 30, 2018USD ($)property	Mar. 31, 2018USD ($)	Jan. 31, 2018USD ($)property	Dec. 31, 2017USD ($)	Mar. 31, 2017USD ($)facility	Dec. 31, 2018USD ($)propertyfacility	Sep. 30, 2018facility	Jun. 30, 2018facility	Mar. 31, 2018facility	Dec. 31, 2017USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)facility	Dec. 31, 2016USD ($)facility	Jan. 01, 2018USD ($)property
Real Estate Properties [Line Items]
Percentage of voting interest acquired	10.00%
Consideration transferred | $	$ 95,000
Payments to acquire additional interest in subsidiaries | $			$ 63,000		$ 32,000
Proceeds from sale of buildings | $												$ 335,709	$ 462,242	$ 0
Management fee rate													5.00%
Operating expenses | $												$ 705,038	$ 666,251	738,399
RIDEA Facilities
Real Estate Properties [Line Items]
Ownership percentage (as a percent)													90.00%
Assets Leased to Others
Real Estate Properties [Line Items]
Number of properties disposed (in properties)							19
Number of assets sold or transitioned (in properties)												37
Assets Leased to Others | RIDEA Facilities
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	58
Proceeds from sale of buildings | $							$ 377,000
Senior housing triple-net
Real Estate Properties [Line Items]
Total consideration for disposition of real estate | $						$ 1,125,000								$ 88,000
Number of properties disposed (in properties) | facility						64			2				4	7
Senior housing triple-net | Assets Leased to Others
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	78
Right to sell, or transition, number of properties (in properties)							32					32
Rent concessions | $															$ 5,000
Number of properties with rent concessions (in properties)															3
Number of assets to be sold (in properties)	2
Total consideration for disposition of real estate | $	$ 35,000
Number of properties disposed (in properties)							11
Number of assets sold or transitioned (in properties)												17
Reduction in rental and related revenues | $											$ 20,000
Fair value inputs (in properties)											32
SHOP
Real Estate Properties [Line Items]
Total consideration for disposition of real estate | $														$ 41,000
Number of properties disposed (in properties) | facility							2	11	8	2			5	3
SHOP | Assets Leased to Others
Real Estate Properties [Line Items]
Number of assets sold or transitioned (in properties)												20
SHOP | Assets Leased to Others | RIDEA Facilities
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	36
Number of assets to be sold (in properties)	4
Total consideration for disposition of real estate | $	$ 240,000
Number of properties disposed (in properties)		3		1			8
Proceeds from sale of productive assets | $		$ 208,000		$ 32,000
SHOP | Assets Under Management Agreements
Real Estate Properties [Line Items]
Fair value inputs (in properties)											36
Minimum
Real Estate Properties [Line Items]
EBITDAR growth rates													0.00%
Maximum
Real Estate Properties [Line Items]
EBITDAR growth rates													3.00%
Discount rate
Real Estate Properties [Line Items]
Real estate capitalization rate					0.12						0.12		0.12
Cap rate | Minimum
Real Estate Properties [Line Items]
Real estate capitalization rate					0.06						0.06		0.06
Cap rate | Maximum
Real Estate Properties [Line Items]
Real estate capitalization rate					0.07						0.07		0.07
Real estate | SHOP | Assets Under Management Agreements
Real Estate Properties [Line Items]
Operating expenses | $											$ 35,000

Other Real Estate Property In_3

Other Real Estate Property Investments - Narrative (Details) $ in Thousands	1 Months Ended			2 Months Ended	3 Months Ended	5 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)property	Nov. 30, 2018propertyjoint_venture	Aug. 31, 2018USD ($)property	Feb. 14, 2019USD ($)	Dec. 31, 2018USD ($)joint_venture	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Real Estate [Line Items]
Payments to acquire real estate							$ 21,000
Deposit, nonrefundable	$ 15,000
Gain on consolidation					$ 50,000		9,154	$ 0	$ 0
Net real estate	10,209,450				10,209,450	$ 10,209,450	10,209,450	$ 10,731,878
MSREI MOB JV
Real Estate [Line Items]
Ownership percentage (as a percent)			51.00%			51.00%
Proceeds from contributions from affiliates			$ 298,000
Number of properties may be contributed in the agreement | property			9
Contribution of property			$ 320,000
Number of properties acquired | property			16
Noncontrolling interest in variable interest entity	$ 298,000				298,000	$ 298,000	298,000
Life Science JVs
Real Estate [Line Items]
Number of properties acquired | property	2	4
Payments to acquire real estate	$ 245,000				$ 92,000
Number of joint ventures | joint_venture		3			3
Investment ownership percentage		100.00%
Greenville Portfolio | MSREI MOB JV
Real Estate [Line Items]
Payments to acquire real estate			$ 285,000
Term of operating leases			10 years
Net real estate	$ 276,000				$ 276,000	$ 276,000	276,000
Finite-lived intangible assets acquired							$ 20,000
Life science | Subsequent Event | Life Science facility
Real Estate [Line Items]
Payments to acquire real estate				$ 71,000
Life science | Subsequent Event | Land
Real Estate [Line Items]
Payments to acquire real estate				$ 27,000

Other Real Estate Property In_4

Other Real Estate Property Investments - Schedule of Real Estate Acquisitions and Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real estate acquisitions
Consideration, Cash Paid/Debt Settled		$ 560,753
Consideration, Net Liabilities Assumed		5,425
Assets Acquired, Real Estate		527,815
Assets Acquired, Net Intangibles		38,363
Funding for construction, tenant and other capital improvements	$ 607,186	471,778	$ 458,900
Senior housing triple-net
Real estate acquisitions
Funding for construction, tenant and other capital improvements	11,311	32,343	49,109
SHOP
Real estate acquisitions
Consideration, Cash Paid/Debt Settled		44,258
Consideration, Net Liabilities Assumed		797
Assets Acquired, Real Estate		37,940
Assets Acquired, Net Intangibles		7,115
Funding for construction, tenant and other capital improvements	53,389	49,473	74,158
Life science
Real estate acquisitions
Consideration, Cash Paid/Debt Settled		315,255
Consideration, Net Liabilities Assumed		3,524
Assets Acquired, Real Estate		305,760
Assets Acquired, Net Intangibles		13,019
Funding for construction, tenant and other capital improvements	396,431	240,901	200,122
Medical office
Real estate acquisitions
Consideration, Cash Paid/Debt Settled		201,240
Consideration, Net Liabilities Assumed		1,104
Assets Acquired, Real Estate		184,115
Assets Acquired, Net Intangibles		18,229
Funding for construction, tenant and other capital improvements	144,694	148,926	128,308
Other non-reportable segments
Real estate acquisitions
Funding for construction, tenant and other capital improvements	$ 1,361	$ 135	$ 7,203

Dispositions of Real Estate a_3

Dispositions of Real Estate and Discontinued Operations - Held for Sale (Details) $ in Thousands	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property	Dec. 31, 2016property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net	$ 108,086	$ 417,014
Accumulated depreciation and amortization	$ 2,842,947	$ 2,741,695
SHOP | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale (in properties) | property	9	6
Life science | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale (in properties) | property		4
Senior Housing Triple-Net and SHOP | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net	$ 108,000
Senior Housing Triple-Net and SHOP | Held-for-sale | Real estate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net	101,000
Accumulated depreciation and amortization	$ 30,000
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale (in properties) | property		64	64
Senior housing triple-net | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale (in properties) | property		2
SH NNN, Life Science, SHOP | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net		$ 417,000
SH NNN, Life Science, SHOP | Held-for-sale | Real estate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net		393,000
Accumulated depreciation and amortization		$ 93,000
Land | Life science | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale (in properties) | property	1

Dispositions of Real Estate a_4

Dispositions of Real Estate and Discontinued Operations - Shoreline Technology Center (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings		$ 335,709	$ 462,242	$ 0
Shoreline Technology Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings	$ 1,000,000
Gain (loss) on sale of assets	$ 726,000

Dispositions of Real Estate a_5

Dispositions of Real Estate and Discontinued Operations - Brookedale MTCA Disposition (Details) $ in Thousands	1 Months Ended	3 Months Ended					12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)property	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Nov. 01, 2017property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings							$ 335,709	$ 462,242	$ 0
Gain (loss) on sales of real estate, net			$ 95,000	$ 25,000			$ 925,985	$ 356,641	$ 164,698
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net	$ 170,000
Senior housing triple-net | Assets Leased to Others
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets to be sold (in properties) | property										2
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					$ 21,000
Brookedale MTCA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets to be sold (in properties) | property		19					19
Brookedale MTCA | Assets Leased to Others
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings		$ 377,000
Gain (loss) on sales of real estate, net						$ 40,000
Brookedale MTCA | Senior housing triple-net | Assets Leased to Others
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets to be sold (in properties) | property		11					11
Brookedale MTCA | SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets to be sold (in properties) | property		8					8

Dispositions of Real Estate a_6

Dispositions of Real Estate and Discontinued Operations - RIDEA II Sale Transaction (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended			12 Months Ended
	Nov. 30, 2018	Jun. 30, 2018	Jan. 31, 2017	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 01, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net				$ 95,000	$ 25,000		$ 925,985	$ 356,641	$ 164,698
HCP/CPA/Brookdale JV
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt provided			$ 602,000
Debt provided by third-party			360,000
Debt provided by entity			242,000
Net proceeds from the RIDEA II transaction			$ 480,000
HCP/CPA/Brookdale JV | RIDEA II
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt provided by entity										$ 242,000
Equity method investment ownership interest disposed	40.00%
Consideration receivable from sale of ownership interest										$ 91,000
Proceeds from sale of asset		$ 332,000
RIDEA II
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment ownership percentage			40.00%				40.00%
Gain (loss) on sales of real estate, net						$ 99,000
RIDEA II | HCP/CPA/Brookdale JV
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment ownership percentage			40.00%

Dispositions of Real Estate a_7

Dispositions of Real Estate and Discontinued Operations - U.K. Portfolio (Details) $ in Thousands, £ in Millions	1 Months Ended		3 Months Ended			12 Months Ended
	Aug. 31, 2018GBP (£)	Jun. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2018GBP (£)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets						$ 12,718,553	$ 14,088,461	$ 15,759,265
Gain (loss) on sales of real estate, net			$ 95,000	$ 25,000		$ 925,985	$ 356,641	$ 164,698
U.K. Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest sold		51.00%
Assets		$ 507,000		507,000					£ 382
Gross proceeds		402,000
Gain (loss) on sales of real estate, net					$ 11,000
Foreign currency translation reclassified from OCI		17,000
Maria Mallaband Care Group loan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of receivables | £	£ 11
U.K. Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investments		$ 105,000		$ 105,000
U.K. Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncontrolling interest (as a percent)		49.00%		49.00%					49.00%

Dispositions of Real Estate a_8

Dispositions of Real Estate and Discontinued Operations - 2018 Other Dispositions (Details) $ in Thousands	1 Months Ended		3 Months Ended				12 Months Ended
	Mar. 31, 2017USD ($)facility	Jan. 31, 2017USD ($)facility	Dec. 31, 2018USD ($)facility	Sep. 30, 2018USD ($)facility	Jun. 30, 2018USD ($)facility	Mar. 31, 2018USD ($)facility	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)facility	Dec. 31, 2016USD ($)facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net				$ 95,000	$ 25,000		$ 925,985	$ 356,641	$ 164,698
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			2	11	8	2		5	3
Proceeds from sale of real estate			$ 15,000	$ 76,000	$ 268,000	$ 35,000
Gain (loss) on sales of real estate, net						$ 21,000
Medical office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			2	2				4	3
Proceeds from sale of real estate			$ 4,000	$ 21,000
Gain (loss) on sales of real estate, net								$ 41,000
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility	64				2			4	7
Proceeds from sale of real estate					$ 35,000
Gain (loss) on sales of real estate, net	$ 170,000
Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility		4		4					5
Proceeds from sale of real estate				$ 269,000
Gain (loss) on sales of real estate, net		$ 45,000
Land | Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			1
Proceeds from sale of real estate			$ 3,000

Dispositions of Real Estate a_9

Dispositions of Real Estate and Discontinued Operations - 2017 Dispositions (Details) $ in Thousands	1 Months Ended		3 Months Ended				12 Months Ended
	Mar. 31, 2017USD ($)facility	Jan. 31, 2017USD ($)facility	Dec. 31, 2018facility	Sep. 30, 2018USD ($)facility	Jun. 30, 2018USD ($)facility	Mar. 31, 2018USD ($)facility	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)facility	Dec. 31, 2016USD ($)facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate							$ 2,044,477	$ 1,314,325	$ 647,754
Gain (loss) on sales of real estate, net				$ 95,000	$ 25,000		$ 925,985	356,641	$ 164,698
Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility		4		4					5
Total consideration for disposition of real estate		$ 76,000							$ 386,000
Gain (loss) on sales of real estate, net		$ 45,000
Life science | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			1
Total consideration for disposition of real estate								27,000
Life science | Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate								$ 5,000
Medical office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			2	2				4	3
Total consideration for disposition of real estate									$ 20,000
Proceeds from sales of real estate								$ 15,000
Gain (loss) on sales of real estate, net								$ 41,000
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility			2	11	8	2		5	3
Total consideration for disposition of real estate									$ 41,000
Proceeds from sales of real estate								$ 43,000
Gain (loss) on sales of real estate, net						$ 21,000
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility	64				2			4	7
Total consideration for disposition of real estate	$ 1,125,000								$ 88,000
Proceeds from sales of real estate								$ 27,000
Gain (loss) on sales of real estate, net	$ 170,000
Senior housing triple-net | Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility									2

Dispositions of Real Estate _10

Dispositions of Real Estate and Discontinued Operations - 2016 Dispositions (Details) $ in Millions	1 Months Ended		3 Months Ended				12 Months Ended
	Mar. 31, 2017USD ($)facility	Jan. 31, 2017USD ($)facility	Dec. 31, 2018facility	Sep. 30, 2018facility	Jun. 30, 2018facility	Mar. 31, 2018facility	Dec. 31, 2017facility	Dec. 31, 2016USD ($)facility
Post-acute/skilled | Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)								5
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)	64				2		4	7
Total consideration for disposition of real estate | $	$ 1,125							$ 88
Senior housing triple-net | Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)								2
Post-acute/skilled and SH NNN | Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration for disposition of real estate | $								$ 130
Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)		4		4				5
Total consideration for disposition of real estate | $		$ 76						$ 386
Medical office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)			2	2			4	3
Total consideration for disposition of real estate | $								$ 20
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities)			2	11	8	2	5	3
Total consideration for disposition of real estate | $								$ 41

Dispositions of Real Estate _11

Dispositions of Real Estate and Discontinued Operations - Quality Care Properties, Inc (Details) shares in Millions	Oct. 31, 2018	Oct. 31, 2016USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2017USD ($)	Oct. 17, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments of dividends				$ 696,913,000	$ 694,955,000	$ 979,542,000
Stock distribution ratio	5	5
Distribution of QCP, Inc.						(3,532,763,000)
Gain (loss) on disposition of assets		$ 0
Bank line of credit				80,103,000	1,017,076,000
Prepayments of secured debt			$ 108,000,000
Loss on extinguishment of debt				$ 44,162,000	$ 54,227,000	$ 46,020,000
QCP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Distribution of QCP, Inc.		3,500,000,000
Mortgage debt | QCP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate principal amount								$ 750,000,000
QCP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from issuance of debt		1,750,000,000
Payments of dividends		$ 1,690,000,000
Number of shares issued (in shares) | shares		94
QCP | Revolving credit facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Line of credit facility, maximum borrowing capacity		$ 100,000,000					$ 0
Bank line of credit							$ 0
QCP | Mortgage debt
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate (as a percent)								8.125%
Interest expense		2,000,000
Proceeds from issuance of debt		$ 1,000,000,000
QCP | Mortgage debt | LIBOR
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loan, basis spread on variable rate		5.25%
QCP | Mortgage debt | Base rate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loan, basis spread on variable rate		4.25%
QCP | Mortgage debt | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate (as a percent)								1.00%
Senior Unsecured Debt 6.000%
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate (as a percent)			6.00%			6.00%
Repayment of senior unsecured notes			$ 500,000,000
Loss on extinguishment of debt			$ 46,000,000
Senior Unsecured Debt 6.700%
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate (as a percent)			6.70%			6.70%
Repayment of senior unsecured notes			$ 600,000,000

Dispositions of Real Estate _12

Dispositions of Real Estate and Discontinued Operations - Schedule of Results of Discontinued Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 0	$ 0	$ (4,890,000)
Income tax benefit (expense)	0	$ 0	$ (48,181,000)
QCP | Spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rental and related revenues	24,204,000
Income from direct financing leases	384,752,000
Total revenues	408,956,000
Depreciation and amortization	(4,892,000)
Operating	(3,367,000)
General and administrative	(67,000)
Transaction costs	(86,765,000)
Other income (expense), net	71,000
Income (loss) before income taxes and income from impairments of equity method investments	313,936,000
Income tax benefit (expense)	(48,181,000)
Total discontinued operations	$ 265,755,000

Dispositions of Real Estate _13

Dispositions of Real Estate and Discontinued Operations - HCR ManorCare, Inc. (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)facility	Dec. 31, 2011USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings		$ 335,709	$ 462,242	$ 0
HCRMC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed (in facilities) | facility				13
Proceeds from sale of buildings				$ 153,000
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Federal and state built-in gain tax from assets sold					$ 2,000,000
HCRMC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from direct financing leases				385,000
Cash payments received				$ 385,000
Federal and state built-in gain tax from assets sold, term					10 years
Period intended to hold the assets					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
Period intended to sell the assets				5 years
State built-in gain from assets sold				$ 47,000

Leases - Components of Net Inve

Leases - Components of Net Investment in DFLs (Details) $ in Thousands	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Leases, Capital [Abstract]
Minimum lease payments receivable	$ 1,013,976	$ 1,062,452
Estimated residual value	507,484	504,457
Less unearned income	(807,642)	(852,557)
Net investment in direct financing leases	$ 713,818	$ 714,352
Properties subject to direct financing leases | property	29	29

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments, DFL (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases, Capital [Abstract]
2,019	$ 114,970
2,020	63,308
2,021	63,687
2,022	58,135
2,023	58,570
Thereafter	655,306
Total	$ 1,013,976

Leases - Internal Ratings For N

Leases - Internal Ratings For Net Investment, DFL (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Net investment in direct financing leases	$ 713,818	$ 714,352
Percentage of DFL Portfolio	100.00%
Senior housing triple-net
Investment [Line Items]
Net investment in direct financing leases	$ 629,214
Percentage of DFL Portfolio	88.00%
Other non-reportable segments
Investment [Line Items]
Net investment in direct financing leases	$ 84,604
Percentage of DFL Portfolio	12.00%
Performing Loans
Investment [Line Items]
Net investment in direct financing leases	$ 363,107
Performing Loans | Senior housing triple-net
Investment [Line Items]
Net investment in direct financing leases	278,503
Performing Loans | Other non-reportable segments
Investment [Line Items]
Net investment in direct financing leases	84,604
Watch List Loans
Investment [Line Items]
Net investment in direct financing leases	350,711
Watch List Loans | Senior housing triple-net
Investment [Line Items]
Net investment in direct financing leases	350,711
Watch List Loans | Other non-reportable segments
Investment [Line Items]
Net investment in direct financing leases	0
Workout DFLs
Investment [Line Items]
Net investment in direct financing leases	0
Workout DFLs | Senior housing triple-net
Investment [Line Items]
Net investment in direct financing leases	0
Workout DFLs | Other non-reportable segments
Investment [Line Items]
Net investment in direct financing leases	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property	Dec. 31, 2016USD ($)	Sep. 30, 2013property
Capital Leased Assets [Line Items]
Properties subject to direct financing leases (in properties) | property	29	29
Income from direct financing leases	$ 54,274	$ 54,217	$ 59,580
Net investment in direct financing leases	713,818	714,352
Rent expense	10,000	10,000	10,000
DFL Portfolio
Capital Leased Assets [Line Items]
Income from direct financing leases	14,000	13,000	13,000
Cash income	19,000	18,000	$ 18,000
DFL Portfolio | Senior housing
Capital Leased Assets [Line Items]
Properties subject to direct financing leases (in properties) | property				14
Net investment in direct financing leases	$ 351,000	$ 356,000

Leases - Future Minimum Rents (

Leases - Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2,019	$ 971,417
2,020	928,102
2,021	853,451
2,022	751,972
2,023	675,537
Thereafter	2,320,847
Total	$ 6,501,326

Leases - Tenant Purchase Option

Leases - Tenant Purchase Options (Details) $ in Thousands	Dec. 31, 2018USD ($)property
Leases, Capital [Abstract]
2019 | $	$ 23,771
2020 | $	14,545
2021 | $	12,747
2022 | $	13,315
Thereafter | $	50,577
Total | $	$ 114,955
Number of Properties
2019 | property	10
2020 | property	4
2021 | property	6
2022 | property	3
Thereafter | property	34
Total number of properties (in properties) | property	57

Leases - Operating Lease Expens

Leases - Operating Lease Expense (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
Renewal term, operating leases	99 years
2,019	$ 5,597
2,020	5,687
2,021	5,776
2,022	5,862
2,023	5,983
Thereafter	466,130
Total	$ 495,035

Loans Receivable - Schedule of

Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loans receivable
Mezzanine	$ 21,013	$ 269,299
Loans receivable, other	42,037	188,418
Unamortized premiums (discounts), fees and costs	(52)	(596)
Allowance for loan losses	0	(143,795)
Loans receivable, net	62,998	313,326
Remaining commitments to fund development projects	115,000
Real Estate Secured
Loans receivable
Mezzanine	0	0
Loans receivable, other	42,037	188,418
Unamortized premiums (discounts), fees and costs	0	0
Allowance for loan losses	0	0
Loans receivable, net	42,037	188,418
Other Secured
Loans receivable
Mezzanine	21,013	269,299
Loans receivable, other	0	0
Unamortized premiums (discounts), fees and costs	(52)	(596)
Allowance for loan losses	0	(143,795)
Loans receivable, net	20,961	$ 124,908
UK
Loans receivable
Remaining commitments to fund development projects	$ 73,000

Loans Receivable - Internal Rat

Loans Receivable - Internal Ratings for Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 62,998	$ 313,326
Percentage of Loan Portfolio	100.00%
Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 62,998
Watch List Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	0
Workout DFLs
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	0
Real Estate Secured
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 42,037	188,418
Percentage of Loan Portfolio	67.00%
Real Estate Secured | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 42,037
Real Estate Secured | Watch List Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	0
Real Estate Secured | Workout DFLs
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	0
Other Secured
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 20,961	$ 124,908
Percentage of Loan Portfolio	33.00%
Other Secured | Performing Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 20,961
Other Secured | Watch List Loans
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	0
Other Secured | Workout DFLs
Financing Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 0

Loans Receivable - Loans Receiv

Loans Receivable - Loans Receivable Secured by Real Estate (Details) - Mortgage loan on real estate, Washington due 2022 $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)loan
Loans receivable
Number of Loans (in loans) | loan	1
Principal Amount	$ 42,037
Carrying Amount	$ 42,037
Fixed interest rate (as a percent)	6.50%
Percent of appreciation Company may participate in	0.20

Loans Receivable - Narrative (D

Loans Receivable - Narrative (Details) $ in Thousands, £ in Millions	1 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017GBP (£)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Loans receivable
Interest income			$ 10,406	$ 56,237	$ 88,808
Four Seasons
Loans receivable
Proceeds from sale of loan receivables	$ 35,000	£ 29
Amortized cost on HTM security, before OTTI | £		138.5
Proceeds from sale of HTM security	101,000	83
Real Estate Secured
Loans receivable
Interest income			$ 5,000
Discounted cash flows | Level 2 | Four Seasons
Loans receivable
Other-than-temporary impairment loss, before tax	$ 51,000	£ 42

Loans Receivable - HC-One Facil

Loans Receivable - HC-One Facility (Details) - Jun. 30, 2017 £ in Millions, $ in Millions	USD ($)	GBP (£)
HC-One Facility
Loans receivable
Cash payments received from borrower	$ 367	£ 283

Loans Receivable - Tandem Healt

Loans Receivable - Tandem Health Care Loan (Details) - USD ($) $ in Thousands	Jul. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 31, 2015
Loans receivable
Loans receivable, other			$ 188,418			$ 42,037	$ 188,418
Loans receivable, net			313,326			62,998	313,326
Tandem Health Care Loan
Loans receivable
Loans receivable, other			105,000				105,000		$ 257,000
Write down of loans receivable			$ 84,000	$ 3,000	$ 57,000	144,000
Loans receivable, net					$ 200,000
Repayment on loans and leases receivable	$ 197,000
Proceeds from deposit on loan	$ 8,000
Interest income related to loans						$ 0	23,000	$ 31,000
Cash payments received from borrower							$ 25,000	$ 30,000
Proceeds from Sale of Loans Receivable		$ 112,000
Impairment recovery		$ 3,000
Maximum | Tandem Health Care Loan
Loans receivable
Loans receivable, other									$ 257,000

Loans Receivable - U.K. Bridge

Loans Receivable - U.K. Bridge Loan (Details) $ in Thousands, £ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 30, 2018property	Mar. 31, 2018USD ($)property	Mar. 31, 2018GBP (£)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2016GBP (£)property
Loans receivable
Loans receivable, net | $				$ 62,998	$ 313,326
Derecognition of U.K. Bridge Loan receivable | $				$ 147,474	$ 0	$ 0
MMCG
Loans receivable
Loss on consolidation		$ 41,000	£ 29
MMCG | Bridge Loan
Loans receivable
Loans receivable, net						$ 131,000	£ 105
Number of properties (in properties) | property						7	7
Period of call-option retained						3 years
Derecognition of U.K. Bridge Loan receivable | £			105
Loss on consolidation		$ 41,000	£ 29
Number of properties acquired (in properties) | property	7	7	7

Investments in and Advances t_3

Investments in and Advances to Unconsolidated Joint Ventures - Schedule of Equity Method Investments (Details) $ in Thousands	Dec. 31, 2018USD ($)joint_venture	Dec. 31, 2017USD ($)	Jan. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Advances to unconsolidated joint ventures, net	$ 71	$ 226
Investments in and advances to unconsolidated joint ventures	$ 540,088	800,840
CCRC JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	49.00%
Equity method investments	$ 365,764	400,241
RIDEA II
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	40.00%		40.00%
Equity method investments	$ 0	259,651	$ 121,000
U.K. JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	49.00%
Equity method investments	$ 101,735	0
Life Science JVs
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 0	65,581
Life Science JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	50.00%
Life Science JVs | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	63.00%
Torrey Pines Science Center
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	50.00%
Britannia Biotech Gateway, LP
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	55.00%
LASDK, LP
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	63.00%
MBK JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	50.00%
Equity method investments	$ 35,435	38,005
Unconsolidated development joint ventures
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 25,493	23,365
Number of unconsolidated joint ventures (in joint ventures) | joint_venture	4
Unconsolidated development joint ventures | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	50.00%
Unconsolidated development joint ventures | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	90.00%
Vintage Park Development JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	85.00%
Waldwick
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	85.00%
Otay Ranch
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	90.00%
MBK Development JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	50.00%
Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 10,160	12,488
Number of unconsolidated joint ventures (in joint ventures) | joint_venture	3
Medical Office JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	20.00%
Medical Office JVs | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	67.00%
HCP Ventures IV, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	20.00%
H C P Ventures III, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	30.00%
Suburban Properties, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	67.00%
K&Y JVs
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	80.00%
Equity method investments	$ 1,430	$ 1,283
Number of unconsolidated joint ventures (in joint ventures) | joint_venture	3

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Joint Ventures - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Real estate, net	$ 10,209,450	$ 10,731,878
Other assets, net	591,017	578,033
Total assets	12,718,553	14,088,461	$ 15,759,265
Mortgage and other debt	5,477,123
Accounts payable and accrued liabilities	391,583	401,738
Partners' capital	6,512,591	5,594,938	$ 5,941,308	$ 9,746,317
Total liabilities and equity	12,718,553	14,088,461
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Real estate, net	2,128,147	2,104,090
Other assets, net	479,935	928,790
Total assets	2,608,082	3,032,880
Mortgage and other debt	827,622	900,911
Accounts payable and accrued liabilities	655,177	561,523
Total liabilities and equity	2,608,082	3,032,880
HCP Inc | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Partners' capital	609,492	915,135
Other partners | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Partners' capital	$ 515,791	$ 655,311

Investments in and Advances t_5

Investments in and Advances to Unconsolidated Joint Ventures - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Total revenues	$ 441,919	$ 456,022	$ 469,551	$ 479,197	$ 443,259	$ 454,023	$ 458,928	$ 492,168	$ 1,846,689	$ 1,848,378	$ 2,129,294
Operating expenses									(705,038)	(666,251)	(738,399)
Income (loss) from discontinued operations									0	0	265,755
Net income (loss)	834,383	$ 102,926	$ 92,928	$ 43,237	(57,924)	$ (5,720)	$ 22,101	$ 464,177	1,073,474	422,634	639,926
Distributions received by HCP									22,467	44,142	26,492
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Total revenues									642,724	810,216	424,134
Operating expenses									(492,784)	(643,452)	(344,553)
Income (loss) from discontinued operations									0	0	8,810
Net income (loss)									(43,704)	(42,408)	43,015
Fees earned by HCP									125	133	299
Distributions received by HCP									48,939	81,165	54,858
Aggregate unamortized basis difference	$ (69,000)				$ (115,000)				(69,000)	(115,000)
HCP Inc | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Net income (loss)									$ (2,594)	$ 10,901	$ 11,360

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangibles Lease Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Intangibles
Gross intangible lease assets	$ 556,114	$ 795,305
Accumulated depreciation and amortization	(251,035)	(385,223)
Net intangible lease assets	$ 305,079	$ 410,082

Intangibles - Schedule of Int_2

Intangibles - Schedule of Intangible Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Intangibles [Abstract]
Gross intangible lease liabilities	$ 94,444	$ 126,212
Accumulated depreciation and amortization	(39,781)	(73,633)
Net intangible lease liabilities	$ 54,663	$ 52,579

Intangibles - Amortization of D

Intangibles - Amortization of Deferred Leasing Costs and Acquisition Related Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangibles
Depreciation and amortization expense related to amortization of lease-up intangibles	$ 67,350	$ 76,732	$ 84,487
Rental and related revenues related to amortization of net below market lease liabilities	5,253	2,030	3,877
Operating expense related to amortization of net below market ground lease intangibles	$ 636	$ 740	$ 664

Intangibles - Estimated Aggrega

Intangibles - Estimated Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Estimated aggregate amortization of Intangible Assets
Net intangible lease assets	$ 305,079	$ 410,082
Rental and Related Revenues
Estimated aggregate amortization of Intangible Assets
2,019	4,399
2,020	3,670
2,021	3,587
2,022	4,331
2,023	4,269
Thereafter	16,521
Net intangible lease assets	36,777
Operating Expense
Estimated aggregate amortization of Intangible Assets
2,019	505
2,020	621
2,021	738
2,022	738
2,023	738
Thereafter	29,901
Net intangible lease assets	33,241
Depreciation and Amortization
Estimated aggregate amortization of Intangible Assets
2,019	50,762
2,020	39,433
2,021	32,214
2,022	26,438
2,023	24,293
Thereafter	80,812
Net intangible lease assets	$ 253,952

Debt - Bank Line of Credit and

Debt - Bank Line of Credit and Term Loans (Details) £ in Millions	Jul. 03, 2018USD ($)	Jul. 03, 2018GBP (£)	Oct. 19, 2017renewal_option	Jun. 30, 2017GBP (£)	Nov. 30, 2018USD ($)	Mar. 31, 2017GBP (£)	Jan. 31, 2015	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018GBP (£)
Debt Instrument [Line Items]
Bank line of credit								$ 80,103,000	$ 1,017,076,000
Long-term debt								0	228,288,000
Proceeds from bank debt								223,587,000	$ 5,395,000	$ 0
Bank Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 2,000,000,000
Number of extensions (in renewal options) | renewal_option			2
Length of debt instrument extension period			6 months
Loan, basis spread on variable rate								0.875%
Debt instrument, facility fee (as a percent)								0.15%
Line of credit facility additional aggregate amount, maximum								$ 750,000,000
Bank line of credit								80,000,000
Line of credit | £											£ 55
Line of credit								$ 70,000,000
Weighted-average interest rate (as a percent)								2.12%			2.12%
2012 Term Loan
Debt Instrument [Line Items]
Repayments of debt | £						£ 137
2015 Term Loan
Debt Instrument [Line Items]
Repayments of debt		£ 169		£ 51	$ 224,000,000
Proceeds from bank debt	$ 224,000,000
Term of facility							4 years
Term of contract							3 years
2015 Term Loan | GBP LIBOR
Debt Instrument [Line Items]
Loan, basis spread on variable rate				1.15%
Line of Credit and Term Loan
Debt Instrument [Line Items]
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

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) - USD ($)	3 Months Ended							12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,513,437,000							$ 5,513,437,000
Loss on extinguishment of debt								44,162,000	$ 54,227,000	$ 46,020,000
Senior unsecured notes	5,258,550,000							$ 5,258,550,000	6,396,451,000
Senior Unsecured Debt 5.375%
Debt Instrument [Line Items]
Repayment of senior unsecured notes		$ 700,000,000	$ 500,000,000
Interest rate (as a percent)		5.375%	5.375%
Loss on extinguishment of debt		$ 44,000,000
Senior Unsecured Debt 3.75 %
Debt Instrument [Line Items]
Repayment of senior unsecured notes	$ 450,000,000						$ 500,000,000
Interest rate (as a percent)	3.75%						3.75%	3.75%
Senior Unsecured Debt 5.625%
Debt Instrument [Line Items]
Repayment of senior unsecured notes				$ 250,000,000
Interest rate (as a percent)				5.625%
Loss on extinguishment of debt			$ 54,000,000
Senior Unsecured Debt 6.300%
Debt Instrument [Line Items]
Repayment of senior unsecured notes						$ 400,000,000
Interest rate (as a percent)						6.30%
Senior Unsecured Debt 6.000%
Debt Instrument [Line Items]
Repayment of senior unsecured notes					$ 500,000,000
Interest rate (as a percent)					6.00%					6.00%
Loss on extinguishment of debt					$ 46,000,000
Senior Unsecured Debt 6.700%
Debt Instrument [Line Items]
Repayment of senior unsecured notes					$ 600,000,000
Interest rate (as a percent)					6.70%					6.70%
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,300,000,000							$ 5,300,000,000
Interest rate (as a percent)
Senior unsecured notes	$ 0				$ 0			$ 0	$ 0	$ 0

Debt - Mortgage Debt (Details)

Debt - Mortgage Debt (Details) $ in Thousands, £ in Millions	Jul. 03, 2018GBP (£)	Jun. 30, 2017GBP (£)	Nov. 30, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)facility
Debt Instrument [Line Items]
Long-term debt, gross					$ 5,513,437
2015 Term Loan
Debt Instrument [Line Items]
Repayments of debt	£ 169	£ 51	$ 224,000
Mortgage debt
Debt Instrument [Line Items]
Long-term debt, gross					$ 133,334
Number of healthcare facilities used to secure debt (in facilities) | facility					15
Debt instrument, collateral, healthcare facilities carrying value					$ 278,000
Repayments of debt				$ 472,000

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) $ in Thousands, £ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018GBP (£)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,513,437
(Discounts), premiums and debt costs, net	(36,314)
Long-term debt	5,477,123
Other debt	90,785		$ 94,165
Debt maturing in 2019
Debt Instrument [Line Items]
2,019	3,561
Debt maturing in 2020
Debt Instrument [Line Items]
2,020	803,609
Debt maturing in 2021
Debt Instrument [Line Items]
2,021	91,060
Debt maturing in 2022
Debt Instrument [Line Items]
2,022	902,691
Debt maturing in 2023
Debt Instrument [Line Items]
2,023	802,811
Thereafter
Debt Instrument [Line Items]
Thereafter	2,909,705
Bank Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	80,103
(Discounts), premiums and debt costs, net	0
Long-term debt	$ 80,103
Line of credit | £		£ 55
Weighted-average interest rate (as a percent)	2.12%	2.12%
Bank Line of Credit | Debt maturing in 2019
Debt Instrument [Line Items]
2,019	$ 0
Bank Line of Credit | Debt maturing in 2020
Debt Instrument [Line Items]
2,020	0
Bank Line of Credit | Debt maturing in 2021
Debt Instrument [Line Items]
2,021	80,103
Bank Line of Credit | Debt maturing in 2022
Debt Instrument [Line Items]
2,022	0
Bank Line of Credit | Debt maturing in 2023
Debt Instrument [Line Items]
2,023	0
Bank Line of Credit | Thereafter
Debt Instrument [Line Items]
Thereafter	$ 0
Unsecured Debt
Debt Instrument [Line Items]
Interest rate (as a percent)
Long-term debt, gross	$ 5,300,000
(Discounts), premiums and debt costs, net	(41,450)
Long-term debt	$ 5,258,550
Weighted-average interest rate (as a percent)	4.03%	4.03%
Weighted-average maturity	6 years
Unsecured Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	2.79%	2.79%
Unsecured Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	6.87%	6.87%
Unsecured Debt | Debt maturing in 2019
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%	0.00%
2,019	$ 0
Unsecured Debt | Debt maturing in 2020
Debt Instrument [Line Items]
Interest rate (as a percent)	2.79%	2.79%
2,020	$ 800,000
Unsecured Debt | Debt maturing in 2021
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%	0.00%
2,021	$ 0
Unsecured Debt | Debt maturing in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	3.93%	3.93%
2,022	$ 900,000
Unsecured Debt | Debt maturing in 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	4.39%	4.39%
2,023	$ 800,000
Unsecured Debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	4.34%	4.34%
Thereafter	$ 2,800,000
Mortgage debt
Debt Instrument [Line Items]
Interest rate (as a percent)
Long-term debt, gross	$ 133,334
(Discounts), premiums and debt costs, net	5,136
Long-term debt	$ 138,470
Weighted-average interest rate (as a percent)	4.20%	4.20%
Weighted-average maturity	19 years
Mortgage debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	2.80%	2.80%
Mortgage debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%	5.91%
Mortgage debt | Debt maturing in 2019
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%	0.00%
2,019	$ 3,561
Mortgage debt | Debt maturing in 2020
Debt Instrument [Line Items]
Interest rate (as a percent)	5.08%	5.08%
2,020	$ 3,609
Mortgage debt | Debt maturing in 2021
Debt Instrument [Line Items]
Interest rate (as a percent)	5.26%	5.26%
2,021	$ 10,957
Mortgage debt | Debt maturing in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%	0.00%
2,022	$ 2,691
Mortgage debt | Debt maturing in 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%	0.00%
2,023	$ 2,811
Mortgage debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	4.10%	4.10%
Thereafter	$ 109,705
Life Care Bonds and Demand Notes
Debt Instrument [Line Items]
Other debt	91,000
Life Care Bonds
Debt Instrument [Line Items]
Other debt	$ 58,000
On-Demand Note
Debt Instrument [Line Items]
Interest rate (as a percent)	3.60%	3.60%
Other debt	$ 33,000

Commitments and Contingencies -

Commitments and Contingencies - Legal Proceedings (Details)	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Litigation loss contingency accrued	$ 0

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Contractual Obligation (Details) $ in Thousands	Dec. 31, 2018USD ($)
Other Commitments [Line Items]
Total	$ 372,356
2,019	341,990
2020-2021	30,366
2022-2023	0
More than Five Years	0
Construction loan commitments
Other Commitments [Line Items]
Total	72,654
2,019	68,365
2020-2021	4,289
2022-2023	0
More than Five Years	0
Development commitments
Other Commitments [Line Items]
Total	299,702
2,019	273,625
2020-2021	26,077
2022-2023	0
More than Five Years	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - DownREIT LLCs (Details)	Dec. 31, 2018property
Indemnification Agreement
Loss Contingencies [Line Items]
Number of properties may be contributed in the agreement	35

Commitments and Contingencies_4

Commitments and Contingencies - Credit Enhancement Guarantee (Details) $ in Millions	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Third party debt collateralized by facilities, debt amount	$ 74
Third party debt collateralized by facilities, asset carrying amount	$ 351

Equity - Common Stock Narrative

Equity - Common Stock Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 31, 2019	Dec. 31, 2018	Dec. 31, 2018	May 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)					$ 1.48	$ 1.480	$ 2.095
Maximum shares issuable under forward equity sales agreement (in shares)			15,250,000
Initial net price (in dollars per share)			$ 28.60
Management agreement renewal term (in years)			1 year
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.37
At-The-Market Program
Subsequent Event [Line Items]
Maximum sales under equity offering program		$ 594		$ 750
Common stock issued (in shares)					5,400,000
Net price per share (in dollars per share)		$ 28.27	$ 28.27		$ 28.27
Proceeds from issuance of common stock					$ 154
Forward Equity Offering
Subsequent Event [Line Items]
Common stock issued (in shares)					0
Common Stock
Subsequent Event [Line Items]
Common stock issued (in shares)			2,000,000
Net price per share (in dollars per share)		$ 28.60	$ 28.60		$ 28.60
Proceeds from issuance of common stock			$ 57

Equity - Schedule of Other Comm

Equity - Schedule of Other Common Stock Activities (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Dividend Reinvestment and Stock Purchase Plan (in shares)	237	983	2,021
Conversion of DownREIT units (in shares)	3	78	145
Exercise of stock options (in shares)	120	32	133
Vesting of restricted stock units (in shares)	401	419	529
Repurchase of common stock (in shares)	141	157	237

Equity - Schedule of Accumulate

Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Cumulative foreign currency translation adjustment	$ (1,683)	$ (6,955)
Unrealized gains (losses) on derivatives, net	(467)	(13,950)
Supplemental Executive Retirement plan minimum liability and other	(2,558)	(3,119)
Total accumulated other comprehensive loss	$ (4,708)	$ (24,024)

Equity - Noncontrolling Interes

Equity - Noncontrolling Interests Narrative (Details) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2018USD ($)entityshares	Dec. 31, 2017USD ($)
Noncontrolling Interest [Line Items]
Non-managing member unitholders	$ 176,751	$ 176,888
Noncontrolling Interests
Noncontrolling Interest [Line Items]
Non-managing members DownREIT units outstanding (in shares) | shares	4
Conversion of DownREIT units (in shares) | shares	7
Number of DownREIT LLCs (in entities) | entity	5
Non-managing member unitholders	$ 177,000
DownREIT unit, fair value	$ 185,000

Segment Disclosures - Narrative

Segment Disclosures - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)facility	Dec. 31, 2017USD ($)facility	Dec. 31, 2016USD ($)facility
Segment Reporting Information [Line Items]
Impairment related to goodwill		$ 0	$ 0
Goodwill	$ 47,000,000	$ 47,000,000
Senior housing triple-net
Segment Reporting Information [Line Items]
Number of SH NNN facilities transitioned to RIDEA structure (in facilities) | facility	22	25	17
Operating segment | Senior housing triple-net
Segment Reporting Information [Line Items]
Goodwill	$ 21,000,000	$ 21,000,000
Operating segment | SHOP
Segment Reporting Information [Line Items]
Goodwill	9,000,000	9,000,000
Operating segment | Medical office
Segment Reporting Information [Line Items]
Goodwill	11,000,000	11,000,000
Operating segment | Other non-reportable segments
Segment Reporting Information [Line Items]
Goodwill	$ 6,000,000	$ 6,000,000

Segment Disclosures - Summary I

Segment Disclosures - Summary Information for the Reportable Segments (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended								12 Months Ended
	Mar. 31, 2017	Jan. 31, 2017	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment reporting information, revenues
Rental estate revenues											$ 1,836,283	$ 1,792,141	$ 2,040,486
Operating expenses											(705,038)	(666,251)	(738,399)
NOI											1,131,245	1,125,890	1,302,087
Adjustments to NOI											(11,904)	38,410	(19,764)
Adjusted NOI											1,119,341	1,164,300	1,282,323
Addback adjustments											11,904	(38,410)	19,764
Interest income											10,406	56,237	88,808
Interest expense											(266,343)	(307,716)	(464,403)
Depreciation and amortization											(549,499)	(534,726)	(568,108)
General and administrative											(96,702)	(88,772)	(103,611)
Transaction costs											(10,772)	(7,963)	(9,821)
Recoveries (impairments), net											(55,260)	(166,384)	0
Gain (loss) on sales of real estate, net				$ 95,000	$ 25,000						925,985	356,641	164,698
Loss on debt extinguishment											(44,162)	(54,227)	(46,020)
Other income (expense), net											13,316	31,420	3,654
Income tax benefit (expense)											17,854	1,333	(4,473)
Equity income (loss) from unconsolidated joint ventures											(2,594)	10,901	11,360
Discontinued operations											0	0	265,755
Net income (loss)			$ 834,383	$ 102,926	$ 92,928	$ 43,237	$ (57,924)	$ (5,720)	$ 22,101	$ 464,177	1,073,474	422,634	639,926
Corporate Non-segment
Segment reporting information, revenues
Rental estate revenues											0	0	0
Operating expenses											0	0	0
NOI											0	0	0
Adjustments to NOI											0	0	0
Adjusted NOI											0	0	0
Addback adjustments											0	0	0
Interest income											0	0	0
Interest expense											(258,955)	(292,169)	(407,754)
Depreciation and amortization											0	0	0
General and administrative											(96,702)	(88,772)	(103,611)
Transaction costs											(10,772)	(7,963)	(9,821)
Recoveries (impairments), net											0	0
Gain (loss) on sales of real estate, net											0	0	0
Loss on debt extinguishment											(44,162)	(54,227)	(46,020)
Other income (expense), net											3,711	(19,475)	3,654
Income tax benefit (expense)											17,854	1,333	(4,473)
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													265,755
Net income (loss)											(389,026)	(461,273)	(302,270)
Senior housing triple-net
Segment reporting information, revenues
Recoveries (impairments), net												(23,000)
Gain (loss) on sales of real estate, net	$ 170,000
Senior housing triple-net | Operating segment
Segment reporting information, revenues
Rental estate revenues											276,091	313,547	423,118
Operating expenses											(3,618)	(3,819)	(6,710)
NOI											272,473	309,728	416,408
Adjustments to NOI											2,127	17,098	(7,566)
Adjusted NOI											274,600	326,826	408,842
Addback adjustments											(2,127)	(17,098)	7,566
Interest income											0	0	0
Interest expense											(2,404)	(2,518)	(9,499)
Depreciation and amortization											(79,605)	(103,820)	(136,146)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											0	(22,590)
Gain (loss) on sales of real estate, net											641	280,349	48,744
Loss on debt extinguishment											0	0	0
Other income (expense), net											0	0	0
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													0
Net income (loss)											191,105	461,149	319,507
SHOP
Segment reporting information, revenues
Recoveries (impairments), net			$ (33,000)								(52,000)
Gain (loss) on sales of real estate, net						$ 21,000
SHOP | Operating segment
Segment reporting information, revenues
Rental estate revenues											547,976	525,473	686,822
Operating expenses											(414,312)	(396,491)	(480,870)
NOI											133,664	128,982	205,952
Adjustments to NOI											2,875	33,227	(2,686)
Adjusted NOI											136,539	162,209	203,266
Addback adjustments											(2,875)	(33,227)	2,686
Interest income											0	0	0
Interest expense											(2,725)	(7,920)	(29,745)
Depreciation and amortization											(104,405)	(103,162)	(108,806)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(44,343)	0
Gain (loss) on sales of real estate, net											93,977	17,485	675
Loss on debt extinguishment											0	0	0
Other income (expense), net											0	0	0
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													0
Net income (loss)											76,168	35,385	68,076
Life science
Segment reporting information, revenues
Gain (loss) on sales of real estate, net		$ 45,000
Life science | Operating segment
Segment reporting information, revenues
Rental estate revenues											395,064	358,816	358,537
Operating expenses											(91,742)	(78,001)	(72,478)
NOI											303,322	280,815	286,059
Adjustments to NOI											(9,589)	(4,517)	(2,954)
Adjusted NOI											293,733	276,298	283,105
Addback adjustments											9,589	4,517	2,954
Interest income											0	0	0
Interest expense											(316)	(373)	(2,357)
Depreciation and amortization											(140,480)	(128,864)	(130,829)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(7,639)	0
Gain (loss) on sales of real estate, net											806,184	45,916	49,042
Loss on debt extinguishment											0	0	0
Other income (expense), net											0	0	0
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													0
Net income (loss)											961,071	197,494	201,915
Medical office
Segment reporting information, revenues
Gain (loss) on sales of real estate, net												41,000
Medical office | Operating segment
Segment reporting information, revenues
Rental estate revenues											509,019	477,459	446,280
Operating expenses											(189,859)	(183,197)	(173,687)
NOI											319,160	294,262	272,593
Adjustments to NOI											(2,899)	(2,952)	(3,536)
Adjusted NOI											316,261	291,310	269,057
Addback adjustments											2,899	2,952	3,536
Interest income											0	0	0
Interest expense											(474)	(506)	(5,895)
Depreciation and amortization											(193,710)	(169,795)	(161,790)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											0	0
Gain (loss) on sales of real estate, net											4,428	9,095	8,333
Loss on debt extinguishment											0	0	0
Other income (expense), net											0	0	0
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													0
Net income (loss)											129,404	133,056	113,241
Other non-reportable segments | Operating segment
Segment reporting information, revenues
Rental estate revenues											108,133	116,846	125,729
Operating expenses											(5,507)	(4,743)	(4,654)
NOI											102,626	112,103	121,075
Adjustments to NOI											(4,418)	(4,446)	(3,022)
Adjusted NOI											98,208	107,657	118,053
Addback adjustments											4,418	4,446	3,022
Interest income											10,406	56,237	88,808
Interest expense											(1,469)	(4,230)	(9,153)
Depreciation and amortization											(31,299)	(29,085)	(30,537)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(3,278)	(143,794)
Gain (loss) on sales of real estate, net											20,755	3,796	57,904
Loss on debt extinguishment											0	0	0
Other income (expense), net											9,605	50,895	0
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											(2,594)	10,901	11,360
Discontinued operations													0
Net income (loss)											$ 104,752	$ 56,823	$ 239,457

Segment Disclosures - Revenues

Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Disclosure
Total revenues	$ 441,919	$ 456,022	$ 469,551	$ 479,197	$ 443,259	$ 454,023	$ 458,928	$ 492,168	$ 1,846,689	$ 1,848,378	$ 2,129,294
Total assets	12,718,553				14,088,461				12,718,553	14,088,461	15,759,265
Assets held for sale and discontinued operations, net	108,086				417,014				108,086	417,014	927,866
Operating segment
Segment Disclosure
Gross assets	13,797,386				14,051,070				13,797,386	14,051,070	14,692,941
Accumulated depreciation and amortization	(2,915,592)				(2,919,278)				(2,915,592)	(2,919,278)	(2,900,060)
Total assets	10,881,794				11,131,792				10,881,794	11,131,792	11,792,881
Operating segment | Senior housing triple-net
Segment Disclosure
Total revenues									276,091	313,547	423,118
Gross assets	2,965,679				3,515,400				2,965,679	3,515,400	3,871,720
Operating segment | SHOP
Segment Disclosure
Total revenues									547,976	525,473	686,822
Gross assets	2,173,795				2,392,130				2,173,795	2,392,130	3,135,115
Operating segment | Life science
Segment Disclosure
Total revenues									395,064	358,816	358,537
Gross assets	4,303,471				4,154,372				4,303,471	4,154,372	3,961,623
Operating segment | Medical office
Segment Disclosure
Total revenues									509,019	477,459	446,280
Gross assets	4,354,441				3,989,168				4,354,441	3,989,168	3,724,483
Operating segment | Other non-reportable segments
Segment Disclosure
Total revenues									118,539	173,083	214,537
Total assets	1,015,854				1,904,433				1,015,854	1,904,433	2,255,712
Other non-segment
Segment Disclosure
Total assets	$ 712,819				$ 635,222				$ 712,819	$ 635,222	$ 782,806

Compensation Plans - Stock Base

Compensation Plans - Stock Based Compensation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)participantshares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	May 01, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized | $	$ 15	$ 14	$ 23
Deferred compensation cost | $	$ 26
Total unrecognized compensation cost, period of recognition	2 years
Number of impacted participants on spin off (in participants) | participant	133
Former Chairman, Chief Executive Officer and President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized | $	$ 2	$ 1	$ 7
2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for future awards (in shares)				0
2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for future awards (in shares)	29,000,000
Maximum number of shares reserved for awards (in shares)				33,000,000
Maximum number of shares available for future awards to be issued as restricted stock and performance restricted stock unit (in shares)	19,000,000

Compensation Plans - Stock Opti

Compensation Plans - Stock Options (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares exercisable (in shares)	0.8	1.1
Common Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares outstanding (in shares)	0.8	1.1
Proceeds received from options exercised	$ 2	$ 1	$ 4

Compensation Plans - Restricted

Compensation Plans - Restricted Stock Awards Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Restricted Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Percentage of performance metrics during performance period	0.00%
Restricted Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	6 years
Percentage of performance metrics during performance period	200.00%
Restricted Stock and Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares withheld to offset tax withholding obligations (in shares)	141	157	237
Weighted-average remaining vesting period of restricted stock and restricted stock units	2 years
Total fair values (at vesting) of restricted stock and restricted stock units vested	$ 10	$ 15	$ 24

Compensation Plans - Schedule o

Compensation Plans - Schedule of Restricted Stock and RSUs Activity (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	1,139
Granted (in shares) | shares	1,097
Vested (in shares) | shares	(401)
Forfeited (in shares) | shares	(137)
Unvested at the end of the period (in shares) | shares	1,698
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 33.41
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	22.95
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	32.42
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	30.34
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 27.13

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property	Dec. 31, 2016USD ($)property
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net		$ 55,260	$ 166,384	$ 0
Casualty-Related
Casualty-related loss			13,000
Property damage loss in a casualty			8,000
Other associated costs with casualty loss			5,000
Deferred tax benefit related to casualty loss			$ 1,000
SHOP
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired (in properties) | property	4	17
Impairments (recoveries), net	$ 33,000	$ 52,000
SHOP | Underperformed assets
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired (in properties) | property		3
Senior housing triple-net
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired (in properties) | property			11
Number of properties classified as held for sale (in properties) | property			64	64
Impairments (recoveries), net			$ 23,000
Other nonoperating income (expense)
Casualty-Related
Casualty-related loss			12,000
Equity income (loss) from unconsolidated joint ventures
Casualty-Related
Casualty-related loss			$ 1,000
Held-for-sale | Life science
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale (in properties) | property			4
Held-for-sale | SHOP
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale (in properties) | property	9	9	6
Held-for-sale | Senior housing triple-net
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale (in properties) | property			2
Land | Held-for-sale | Life science
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale (in properties) | property	1	1

Income Taxes - Schedule of Comm

Income Taxes - Schedule of Common Stock Distribution (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 31, 2016
Dividends Payable [Line Items]
Qualified dividend income for purposes of Code Section 1(h)(11)	$ 0.0164
Qualified business income for purpose of Code Section 199A	0.9414
Common dividends, per share (in dollars per share)	1.48	$ 1.480	$ 2.095
Dividends, amount per share	1.48	1.48	8.265
Spinoff | Spinoff
Dividends Payable [Line Items]
Dividends, amount per share			6.17
Ordinary dividends
Dividends Payable [Line Items]
Dividends, amount per share	0.9578	1.48	1.5561
Capital gains
Dividends Payable [Line Items]
Dividends, amount per share	0.5222	0	0
Nondividend distributions
Dividends Payable [Line Items]
Dividends, amount per share	$ 0	$ 0	$ 6.7089
Nondividend distributions | Spinoff
Dividends Payable [Line Items]
Dividends, amount per share				$ 6.17

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	Oct. 31, 2018	Oct. 31, 2016$ / shares	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)$ / shares	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares
Operating Loss Carryforwards [Line Items]
Stock distribution ratio	5	5
Common stock dividend paid in lieu of fractional shares (in dollars per share) | $ / shares			$ 1.48				$ 1.48				$ 1.48	$ 1.48	$ 8.265
Income (loss) before income taxes			$ (833,600,000)	$ (98,908,000)	$ (88,375,000)	$ (37,331,000)	$ 50,957,000	$ 12,263,000	$ (18,874,000)	$ (454,746,000)	$ (1,058,214,000)	$ (410,400,000)	$ (367,284,000)
Tax expense recorded from Tax Cuts and Jobs Act							17,000,000
Income tax expense from discontinued operations											0	0	48,181,000
Net operating loss carryforward			20,559,000				10,720,000				20,559,000	10,720,000	8,784,000
Amount that tax basis of net assets is less than reported amounts			1,400,000,000				$ 1,700,000,000				1,400,000,000	1,700,000,000	2,000,000,000
UK
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes											11,000,000	4,000,000	4,000,000
QCP
Operating Loss Carryforwards [Line Items]
Share price (in dollars per share) | $ / shares		$ 30.85
TRS
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes											59,000,000	$ 58,000,000	$ 9,000,000
Net operating loss carryforward			80,000,000								80,000,000
Net operating loss carryforwards subject to expiration			44,000,000								44,000,000
Net operating loss carryforwards not subject to expiration			$ 36,000,000								$ 36,000,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal	$ (568)	$ 949	$ 8,525
State	4,003	1,504	8,307
Foreign	84	1,737	1,332
Total current	3,519	4,190	18,164
Federal	(11,905)	2,730	(10,241)
State	(4,589)	(5,889)	(1,401)
Foreign	(4,879)	(2,364)	(2,049)
Total deferred	(21,373)	(5,523)	(13,691)
Total income tax expense (benefit)	$ (17,854)	$ (1,333)	$ 4,473

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax	$ (17,857)	$ (21,085)	$ (4,581)
State income tax expense, net of federal tax	(1,313)	(1,222)	6,081
Gross receipts and margin taxes	1,580	1,716	1,847
Foreign rate differential	301	632	647
Effect of permanent differences	(34)	6	(280)
Return to provision adjustments	(278)	1,597	287
Remeasurement of deferred tax assets and liabilities	0	17,080	0
Increase (decrease) in valuation allowance	(253)	(57)	472
Total income tax expense (benefit)	$ (17,854)	$ (1,333)	$ 4,473

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs	$ 31,034	$ 31,691	$ 28,940
Net operating loss carryforward	20,559	10,720	8,784
Expense accruals and other	2,424	229	(847)
Valuation allowance	(295)	(548)	(606)
Net deferred tax assets	$ 53,722	$ 42,092	$ 36,271

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings per common share:
Maximum shares issuable under forward equity sales agreement (in shares)	15,250,000
Numerator
Net income (loss) from continuing operations										$ 1,073,474	$ 422,634	$ 374,171
Noncontrolling interests' share in earnings										(12,381)	(8,465)	(12,179)
Net income (loss) attributable to HCP, Inc.										1,061,093	414,169	361,992
Less: Participating securities' share in earnings										(2,669)	(1,156)	(1,198)
Income (loss) from continuing operations applicable to common shares										1,058,424	413,013	360,794
Discontinued operations										0	0	265,755
Net income (loss) applicable to common shares										1,058,424	413,013	626,549
Add: distributions on dilutive convertible units and other										6,919	0	0
Dilutive net income (loss) available to common shares										$ 1,065,343	$ 413,013	$ 626,549
Denominator
Basic weighted average shares outstanding (in shares)										470,551,000	468,759,000	467,195,000
Dilutive potential common shares - equity awards (in shares)										168,000	176,000	208,000
Dilutive potential common shares - DownREIT conversions (in shares)										4,668,000	0	0
Diluted weighted average common shares (in shares)										475,387,000	468,935,000	467,403,000
Basic earnings per common share:
Continuing operations (in dollars per share)										$ 2.25	$ 0.88	$ 0.77
Discontinued operations (in dollars per share)										0	0	0.57
Net income (loss) applicable to common shares (in dollars per share)		$ 1.75	$ 0.21	$ 0.19	$ 0.08	$ (0.13)	$ (0.02)	$ 0.04	$ 0.98	2.25	0.88	1.34
Diluted earnings per common share
Continuing operations (in dollars per share)										2.24	0.88	0.77
Discontinued operations (in dollars per share)										0	0	0.57
Net income (loss) applicable to common shares (in dollars per share)		$ 1.73	$ 0.21	$ 0.19	$ 0.08	$ (0.13)	$ (0.02)	$ 0.04	$ 0.97	$ 2.24	$ 0.88	$ 1.34
Common Stock Options
Diluted earnings per common share
Antidilutive securities excluded from computation of earnings per share (in shares)										1,000,000	1,000,000	1,000,000
Convertible Units
Diluted earnings per common share
Antidilutive securities excluded from computation of earnings per share (in shares)										2,000,000	7,000,000	7,000,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2018joint_venture	Dec. 31, 2018joint_venture	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Supplemental cash flow information:
Interest paid, net of capitalized interest			$ 275,690	$ 309,111	$ 489,453
Income taxes paid			4,480	10,045	13,727
Capitalized interest			21,056	16,937	11,108
Supplemental schedule of non-cash investing and financing activities:
Accrued construction costs			88,826	67,425	49,999
Non-cash impact of QCP Spin-Off, net			0	0	3,539,584
Securities transferred for debt defeasance			0	0	73,278
Retained equity method investment from U.K. JV transaction			104,922	0	0
Derecognition of U.K. Bridge Loan receivable			147,474	0	0
Consolidation of net assets related to U.K. Bridge Loan			106,457	0	0
Vesting of restricted stock units and conversion of non-managing member units into common stock			537	2,908	6,622
Net noncash impact from the consolidation of previously unconsolidated joint ventures (see Note 4)			68,293	0	0
Deconsolidation of noncontrolling interest in connection with RIDEA II transaction			0	58,061	0
Mortgages and other liabilities assumed with real estate acquisitions			$ 8,457	$ 5,425	$ 82,985
Life Science JVs
Real Estate [Line Items]
Number of joint ventures | joint_venture	3	3

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information Cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 110,790	$ 55,306
Restricted cash	29,056	26,897
Cash, cash equivalents and restricted cash	$ 139,846	$ 82,203

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Thousands, £ in Millions	1 Months Ended	3 Months Ended		5 Months Ended	12 Months Ended
	Aug. 31, 2018	Mar. 31, 2018USD ($)	Mar. 31, 2018GBP (£)	Dec. 31, 2018USD ($)propertyjoint_ventureloantenant	Dec. 31, 2018USD ($)propertyjoint_ventureentityloantenant	Dec. 31, 2016USD ($)property	Mar. 31, 2018GBP (£)	Dec. 31, 2017USD ($)	Dec. 31, 2016GBP (£)property
Variable Interest Entity [Line Items]
Mezzanine | $				$ 21,013	$ 21,013			$ 269,299
Loans receivable, net | $				$ 62,998	$ 62,998			$ 313,326
Consolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Number of properties leased (in properties) | property				6	6
Downreit Partnerships [Member]
Variable Interest Entity [Line Items]
Controlling interest entity controlling ownership interest | entity					5
Unconsolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures (in joint ventures) | joint_venture				4	4
Number of VIE borrowers with marketable debt securities (in joint ventures) | joint_venture				1	1
Number of VIE borrowers with debt securities and loan (in loans) | loan				1	1
Number of VIE tenants (in tenants) | tenant				7	7
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Number of properties leased (in properties) | property				48	48
CCRC OpCo
Variable Interest Entity [Line Items]
Joint venture ownership percentage				49.00%	49.00%
Vintage Park Development JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					85.00%
MSREI MOB JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)	51.00%			51.00%
Waldwick
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					85.00%
MMCG
Variable Interest Entity [Line Items]
Loss on consolidation		$ (41,000)	£ (29)
Tax benefit		3,000	2
Total liabilities		13,000					£ 9
HCP Ventures V
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					51.00%
Bridge Loan | MMCG
Variable Interest Entity [Line Items]
Period of call-option retained						3 years
Loans receivable, net						$ 131,000			£ 105
Number of properties (in properties) | property						7			7
Loss on consolidation		(41,000)	£ (29)
Senior housing triple-net | Loan-seller financing
Variable Interest Entity [Line Items]
Mezzanine | $				$ 10,000	$ 10,000
Term of facility					5 years
Senior housing triple-net | Loan-senior secured
Variable Interest Entity [Line Items]
Number of VIE tenants (in tenants) | tenant				7	7
Vintage Park Development JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					90.00%
Watertown JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					95.00%
Hayden JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)					99.00%
Property, plant and equipment | MMCG
Variable Interest Entity [Line Items]
Total assets		114,000					81
Finite-lived intangible assets | MMCG
Variable Interest Entity [Line Items]
Total assets		$ 5,000					£ 4

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2018USD ($)
VIE tenants-DFLs
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 600,230
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	7,396
CCRC OpCo
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	176,236
Unconsolidated development joint ventures
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	15,176
Loan - seller financing
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	10,000
CMBS and LLC investment
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 34,263

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheet disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Buildings and improvements	$ 10,877,248	$ 11,239,732
Developments in process	537,643	447,976
Land	1,637,506	1,785,865
Accumulated depreciation	(2,842,947)	(2,741,695)
Net real estate	10,209,450	10,731,878
Investments in and advances to unconsolidated joint ventures	540,088	800,840
Accounts receivable, net	48,171	40,733
Cash and cash equivalents	110,790	55,306
Restricted cash	29,056	26,897
Intangible assets, net	305,079	410,082
Other assets, net	591,017	578,033
Total assets	12,718,553	14,088,461	$ 15,759,265
Mortgage debt	138,470	144,486
Intangible liabilities, net	54,663	52,579
Accounts payable and accrued expenses	1,125	14,031
Deferred revenue	190,683	144,709
Total liabilities	6,205,962	8,493,523
Variable Interest Entity
Variable Interest Entity [Line Items]
Buildings and improvements	1,949,582	2,436,414
Developments in process	39,584	32,285
Land	151,746	227,162
Accumulated depreciation	(398,143)	(542,091)
Net real estate	1,742,769	2,153,770
Investments in and advances to unconsolidated joint ventures	1,550	2,231
Accounts receivable, net	7,904	10,242
Cash and cash equivalents	23,772	15,861
Restricted cash	3,399	2,619
Intangible assets, net	111,333	125,475
Other assets, net	43,149	33,749
Total assets	1,933,876	2,343,947
Mortgage debt	44,598	45,016
Intangible liabilities, net	19,128	10,672
Accounts payable and accrued expenses	66,736	269,280
Deferred revenue	24,215	14,432
Total liabilities	$ 154,677	$ 339,400

Concentration of Credit Risk -

Concentration of Credit Risk - Schedule of Concentration of Credit Risk (Details) - property	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Senior housing triple-net
Concentration Risk [Line Items]
Number of properties classified as held for sale (in facilities)		64	64
Brookdale Senior Living | Percentage of Total Company Assets | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	6.00%	10.00%
Brookdale Senior Living | Percentage of Total Company Revenues | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	6.00%	8.00%	12.00%
Brookdale Senior Living | Senior housing triple-net | Percentage of Total Company Assets | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	27.00%	39.00%
Brookdale Senior Living | Senior housing triple-net | Percentage of Total Company Revenues | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	38.00%	47.00%	59.00%

Concentration of Credit Risk _2

Concentration of Credit Risk - Narrative (Details) - Brookdale Senior Living	12 Months Ended
	Dec. 31, 2018facilityrenewal	Dec. 31, 2017
SHOP | Management and Accounting Services
Concentration Risk [Line Items]
Management agreement renewal term (in years)	5 years
SHOP | Percentage of Total Company Assets
Concentration Risk [Line Items]
Concentration risk (as a percent)	7.00%	13.00%
Management and Accounting Services | SHOP
Concentration Risk [Line Items]
Number of investments in senior housing facility joint ventures (in joint ventures) | facility	35
Number of unconsolidated joint ventures (in joint ventures) | facility	16
Minimum
Concentration Risk [Line Items]
Percentage of EDITDAR payable as base management fee	4.50%
Minimum | SHOP | Management and Accounting Services
Concentration Risk [Line Items]
Management agreement term (in years)	10 years
Management agreement number of renewals (in renewals) | renewal	3
Maximum
Concentration Risk [Line Items]
Percentage of EDITDAR payable as base management fee	5.00%
Maximum | SHOP | Management and Accounting Services
Concentration Risk [Line Items]
Management agreement term (in years)	15 years
Management agreement number of renewals (in renewals) | renewal	4

Concentration of Credit Risk _3

Concentration of Credit Risk - Schedule of Geographical Concentration of Credit Risk (Details) - Geographic Concentration Risk	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
California | Percentage of Total Company Assets
Concentration Risk [Line Items]
Concentration risk (as a percent)	34.00%	31.00%
California | Percentage of Total Company Revenues
Concentration Risk [Line Items]
Concentration risk (as a percent)	26.00%	26.00%	26.00%
Texas | Percentage of Total Company Assets
Concentration Risk [Line Items]
Concentration risk (as a percent)	16.00%	14.00%
Texas | Percentage of Total Company Revenues
Concentration Risk [Line Items]
Concentration risk (as a percent)	18.00%	17.00%	17.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Summary of financial instruments
Bank line of credit	$ 80,103	$ 1,017,076
Senior unsecured notes	5,258,550	6,396,451
Mortgage debt	138,470	144,486
Other debt	90,785	94,165
Carrying Value
Summary of financial instruments
Loans receivable, net	62,998	313,326
Marketable debt securities	19,202	18,690
Bank line of credit	80,103	1,017,076
Term loans	0	228,288
Senior unsecured notes	5,258,550	6,396,451
Mortgage debt	138,470	144,486
Other debt	90,785	94,165
Carrying Value | Interest-rate swap liabilities
Summary of financial instruments
Derivative liabilities	1,310	2,483
Carrying Value | Cross currency swap liability
Summary of financial instruments
Derivative liabilities	0	10,968
Fair Value | Level 1
Summary of financial instruments
Senior unsecured notes	5,302,485	6,737,825
Fair Value | Level 2
Summary of financial instruments
Loans receivable, net	62,998	313,242
Marketable debt securities	19,202	18,690
Bank line of credit	80,103	1,017,076
Term loans	0	228,288
Mortgage debt	136,161	125,984
Other debt	90,785	94,165
Fair Value | Interest-rate swap liabilities | Level 2
Summary of financial instruments
Derivative liabilities	1,310	2,483
Fair Value | Cross currency swap liability | Level 2
Summary of financial instruments
Derivative liabilities	$ 0	$ 10,968

Derivative Financial Instrume_3

Derivative Financial Instruments - Financial Instruments (Details) - Cash flow hedge	Dec. 31, 2018USD ($)derivative
Interest-rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	$ 43,000,000
Pay Rate	3.82%
Fair value of interest rate hedge, liabilities	$ (1,310,000)
Interest rate swap, entered in July 2005, maturity in July 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate swap contracts (in derivatives) | derivative	3

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) $ in Thousands, £ in Millions	Jun. 29, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018GBP (£)	Dec. 31, 2017USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative foreign currency translation adjustment		$ (1,683)		$ (6,955)
Revolving credit facility | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | £			£ 55
Cross Currency Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss on Contract Termination	$ 6,000
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimate change in fair value of derivative for assumption of one percentage point change in the interest rate		$ 1,000

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) $ / shares in Units, $ in Thousands, £ in Millions	1 Months Ended					3 Months Ended										12 Months Ended
	Dec. 31, 2018USD ($)	Nov. 30, 2018USD ($)joint_venture	Apr. 30, 2018property	Jan. 31, 2018property	Mar. 31, 2017USD ($)facility	Dec. 31, 2018USD ($)propertyfacilityjoint_venture$ / shares	Sep. 30, 2018USD ($)facility$ / shares	Jun. 30, 2018USD ($)facility$ / shares	Mar. 31, 2018USD ($)facility$ / shares	Mar. 31, 2018GBP (£)facility	Dec. 31, 2017USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares	Mar. 31, 2017USD ($)facility$ / shares	Mar. 31, 2017GBP (£)facility	Dec. 31, 2018USD ($)property$ / shares	Dec. 31, 2017USD ($)propertyfacility$ / shares	Dec. 31, 2016USD ($)facility$ / shares
Total revenues						$ 441,919	$ 456,022	$ 469,551	$ 479,197		$ 443,259	$ 454,023	$ 458,928	$ 492,168		$ 1,846,689	$ 1,848,378	$ 2,129,294
Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures						833,600	98,908	88,375	37,331		(50,957)	(12,263)	18,874	454,746		1,058,214	410,400	367,284
Net income (loss)						834,383	102,926	92,928	43,237		(57,924)	(5,720)	22,101	464,177		1,073,474	422,634	639,926
Net income (loss) applicable to HCP, Inc.						$ 831,548	$ 99,371	$ 89,942	$ 40,232		$ (58,702)	$ (7,657)	$ 19,383	$ 461,145		$ 1,061,093	$ 414,169	$ 627,747
Dividends paid per common share (in dollars per share) | $ / shares						$ 0.37	$ 0.37	$ 0.37	$ 0.37		$ 0.37	$ 0.37	$ 0.37	$ 0.37
Basic earnings per common share (in dollars per share) | $ / shares						1.75	0.21	0.19	0.08		(0.13)	(0.02)	0.04	0.98		$ 2.25	$ 0.88	$ 1.34
Diluted earnings per common share (in dollars per share) | $ / shares						$ 1.73	$ 0.21	$ 0.19	$ 0.08		$ (0.13)	$ (0.02)	$ 0.04	$ 0.97		$ 2.24	$ 0.88	$ 1.34
Proceeds from sale of buildings																$ 335,709	$ 462,242	$ 0
Gain on consolidation						$ 50,000										9,154	0	0
Impairments (recoveries), net																55,260	166,384	0
Loss on extinguishment of debt																44,162	54,227	46,020
Operating expenses																705,038	666,251	738,399
Tax expense recorded from Tax Cuts and Jobs Act											$ 17,000
Gain (loss) on sales of real estate, net							$ 95,000	$ 25,000								925,985	$ 356,641	$ 164,698
Payments to acquire real estate																21,000
RIDEA II
Gain (loss) on sales of real estate, net														$ 99,000
Four Seasons
Payments to acquire loans receivable														$ 51,000	£ 42
Tandem Health Care Loan
Write down of loans receivable											84,000	$ 3,000	$ 57,000			144,000
Senior Unsecured Debt 5.625%
Repayment of senior unsecured notes													$ 250,000
Interest rate (as a percent)													5.625%
Loss on extinguishment of debt												54,000
Senior Unsecured Debt 5.375%
Repayment of senior unsecured notes							$ 700,000					$ 500,000
Interest rate (as a percent)							5.375%					5.375%
Loss on extinguishment of debt							$ 44,000
Senior Housing Triple-Net and SHOP
Gain (loss) on sale of assets						$ 40,000
Senior Housing Triple-Net and SHOP | Held-for-sale
Number of properties disposed (in facilities) | facility						19
Senior housing triple-net
Number of properties disposed (in facilities) | facility					64			2									4	7
Impairments (recoveries), net																	$ 23,000
Number of real estate properties impaired (in properties) | property																	11
Gain (loss) on sales of real estate, net					$ 170,000
Senior housing triple-net | Held-for-sale
Number of properties disposed (in facilities) | facility						11								64	64
Gain (loss) on sales of real estate, net														$ 170,000
SHOP
Number of properties disposed (in facilities) | facility						2	11	8	2	2							5	3
Impairments (recoveries), net						$ 33,000										$ 52,000
Number of real estate properties impaired (in properties) | property						4										17
Gain (loss) on sales of real estate, net									$ 21,000
SHOP | Held-for-sale
Number of properties disposed (in facilities) | facility						8
Assets Leased to Others
Number of properties disposed (in facilities) | property						19
Assets Leased to Others | Senior housing triple-net
Number of properties disposed (in facilities) | property						11
Reduction in rental and related revenues											20,000
Real estate | Assets Under Management Agreements | SHOP
Operating expenses											$ 35,000
Shoreline Technology Center
Proceeds from sale of buildings		$ 1,000,000
Gain (loss) on sale of assets		$ 726,000
RIDEA Facilities | Assets Leased to Others
Proceeds from sale of buildings						$ 377,000
RIDEA Facilities | Assets Leased to Others | Senior Housing Triple-Net and SHOP
Proceeds from sale of buildings						$ 377,000
RIDEA Facilities | Assets Leased to Others | SHOP
Number of properties disposed (in facilities) | property			3	1		8
Life Science JVs
Number of joint ventures | joint_venture		3				3
Payments to acquire real estate	$ 245,000					$ 92,000
MMCG
Loss on consolidation									(41,000)	£ (29)
MMCG | Bridge Loan
Loss on consolidation									$ (41,000)	£ (29)

Schedule II_ Valuation and Qu_2

Schedule II: Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement in Valuation Allowances and Reserves
Balance at the beginning of the year	$ 169,374	$ 29,518	$ 36,180
Additions
Amounts Charged Against Operations, net	4,105	144,135	1,177
Acquired Properties	0	0	0
Deductions
Uncollectible Accounts Written-off	(1,887)	(2,732)	(2,843)
Dispositions	(143,795)	(1,547)	(4,996)
Balance at the end of the year	$ 27,797	$ 169,374	$ 29,518

Schedule III_ Real Estate and_2

Schedule III: Real Estate and Accumulated Depreciation - Details of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 138,470
Initial Cost to Company
Land	1,606,862
Buildings and Improvements	9,027,478
Costs Capitalized Subsequent to Acquisition	2,809,912
Gross Amount at Which Carried As of Year End
Land	1,637,506
Buildings and Improvements	11,414,891
Total	13,052,397	$ 13,473,573	$ 13,974,760	$ 14,330,257
Accumulated Depreciation	$ (2,842,947)	$ (2,741,695)	$ (2,648,930)	$ (2,476,015)
Useful life of buildings and improvements	60 years
Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 50,328
Initial Cost to Company
Land	243,697
Buildings and Improvements	1,955,332
Costs Capitalized Subsequent to Acquisition	107,418
Gross Amount at Which Carried As of Year End
Land	243,853
Buildings and Improvements	2,011,624
Total	2,255,477
Accumulated Depreciation	(604,961)
SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	74,370
Initial Cost to Company
Land	186,684
Buildings and Improvements	1,700,398
Costs Capitalized Subsequent to Acquisition	233,184
Gross Amount at Which Carried As of Year End
Land	186,853
Buildings and Improvements	1,875,576
Total	2,062,429
Accumulated Depreciation	(388,038)
Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,399
Initial Cost to Company
Land	833,745
Buildings and Improvements	1,976,797
Costs Capitalized Subsequent to Acquisition	1,461,433
Gross Amount at Which Carried As of Year End
Land	835,829
Buildings and Improvements	3,347,365
Total	4,183,194
Accumulated Depreciation	(647,977)
Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	8,373
Initial Cost to Company
Land	279,768
Buildings and Improvements	3,025,955
Costs Capitalized Subsequent to Acquisition	977,128
Gross Amount at Which Carried As of Year End
Land	308,003
Buildings and Improvements	3,783,938
Total	4,091,941
Accumulated Depreciation	(1,037,768)
United Kingdom | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	62,968
Buildings and Improvements	368,996
Costs Capitalized Subsequent to Acquisition	30,749
Gross Amount at Which Carried As of Year End
Land	62,968
Buildings and Improvements	396,388
Total	459,356
Accumulated Depreciation	(164,203)
1107 Huntsville AL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	307
Buildings and Improvements	5,813
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	307
Buildings and Improvements	5,453
Total	5,760
Accumulated Depreciation	(1,670)
786 Douglas AZ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	110
Buildings and Improvements	703
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	110
Buildings and Improvements	703
Total	813
Accumulated Depreciation	(385)
518 Tucson AZ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,350
Buildings and Improvements	24,037
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,350
Buildings and Improvements	24,037
Total	26,387
Accumulated Depreciation	(12,219)
1238 Beverly Hills CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,872
Buildings and Improvements	32,590
Costs Capitalized Subsequent to Acquisition	9,257
Gross Amount at Which Carried As of Year End
Land	9,872
Buildings and Improvements	38,972
Total	48,844
Accumulated Depreciation	(11,638)
883 Carmichael CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,270
Buildings and Improvements	13,846
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	4,270
Buildings and Improvements	13,236
Total	17,506
Accumulated Depreciation	(3,998)
2204 Chino Hills CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,720
Buildings and Improvements	41,183
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,720
Buildings and Improvements	41,183
Total	44,903
Accumulated Depreciation	(6,307)
851 Citrus Heights CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,180
Buildings and Improvements	8,367
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	8,037
Total	9,217
Accumulated Depreciation	(3,370)
790 Concord CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	25,000
Initial Cost to Company
Land	6,010
Buildings and Improvements	39,601
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	6,010
Buildings and Improvements	38,301
Total	44,311
Accumulated Depreciation	(12,835)
787 Dana Point CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,960
Buildings and Improvements	15,946
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,960
Buildings and Improvements	15,466
Total	17,426
Accumulated Depreciation	(5,187)
798 Escondido CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	14,340
Initial Cost to Company
Land	5,090
Buildings and Improvements	24,253
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	5,090
Buildings and Improvements	23,353
Total	28,443
Accumulated Depreciation	(7,833)
791 Fremont CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,360
Buildings and Improvements	11,672
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,360
Buildings and Improvements	11,192
Total	13,552
Accumulated Depreciation	(3,754)
788 Granada Hills CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Buildings and Improvements	18,257
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	17,637
Total	19,837
Accumulated Depreciation	(5,916)
227 Lodi CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	732
Buildings and Improvements	5,453
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	732
Buildings and Improvements	5,453
Total	6,185
Accumulated Depreciation	(3,164)
226 Murietta CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	435
Buildings and Improvements	5,729
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	435
Buildings and Improvements	5,729
Total	6,164
Accumulated Depreciation	(3,257)
1165 Northridge CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,718
Buildings and Improvements	26,309
Costs Capitalized Subsequent to Acquisition	2,820
Gross Amount at Which Carried As of Year End
Land	6,752
Buildings and Improvements	27,890
Total	34,642
Accumulated Depreciation	(9,012)
789 Pleasant Hill CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	6,270
Initial Cost to Company
Land	2,480
Buildings and Improvements	21,333
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,480
Buildings and Improvements	20,633
Total	23,113
Accumulated Depreciation	(6,921)
2205 Roseville CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,844
Buildings and Improvements	33,527
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,844
Buildings and Improvements	33,527
Total	37,371
Accumulated Depreciation	(5,038)
793 South San Francisco CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,000
Buildings and Improvements	16,586
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,000
Buildings and Improvements	16,056
Total	19,056
Accumulated Depreciation	(5,380)
792 Ventura CA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,030
Buildings and Improvements	17,379
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,030
Buildings and Improvements	16,749
Total	18,779
Accumulated Depreciation	(5,618)
512 Denver CO | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,810
Buildings and Improvements	36,021
Costs Capitalized Subsequent to Acquisition	1,885
Gross Amount at Which Carried As of Year End
Land	2,810
Buildings and Improvements	37,686
Total	40,496
Accumulated Depreciation	(18,826)
1000 Greenwood Village CO | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,367
Buildings and Improvements	43,610
Costs Capitalized Subsequent to Acquisition	2,894
Gross Amount at Which Carried As of Year End
Land	3,367
Buildings and Improvements	45,708
Total	49,075
Accumulated Depreciation	(13,295)
861 Apopka FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	920
Buildings and Improvements	4,816
Costs Capitalized Subsequent to Acquisition	994
Gross Amount at Which Carried As of Year End
Land	920
Buildings and Improvements	5,710
Total	6,630
Accumulated Depreciation	(2,073)
852 Boca Raton FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,730
Buildings and Improvements	17,532
Costs Capitalized Subsequent to Acquisition	5,471
Gross Amount at Which Carried As of Year End
Land	4,730
Buildings and Improvements	22,391
Total	27,121
Accumulated Depreciation	(8,375)
2467 Ft Myers FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,782
Buildings and Improvements	21,827
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,782
Buildings and Improvements	21,827
Total	24,609
Accumulated Depreciation	(2,400)
1095 Gainesville FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,221
Buildings and Improvements	12,226
Costs Capitalized Subsequent to Acquisition	83
Gross Amount at Which Carried As of Year End
Land	1,221
Buildings and Improvements	12,084
Total	13,305
Accumulated Depreciation	(3,675)
490 Jacksonville FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,250
Buildings and Improvements	25,936
Costs Capitalized Subsequent to Acquisition	6,170
Gross Amount at Which Carried As of Year End
Land	3,250
Buildings and Improvements	32,106
Total	35,356
Accumulated Depreciation	(13,791)
1096 Jacksonville FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,587
Buildings and Improvements	15,616
Costs Capitalized Subsequent to Acquisition	65
Gross Amount at Which Carried As of Year End
Land	1,587
Buildings and Improvements	15,363
Total	16,950
Accumulated Depreciation	(4,685)
1017 Palm Harbor FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,462
Buildings and Improvements	16,774
Costs Capitalized Subsequent to Acquisition	696
Gross Amount at Which Carried As of Year End
Land	1,462
Buildings and Improvements	17,084
Total	18,546
Accumulated Depreciation	(5,277)
802 St Augustine FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	830
Buildings and Improvements	11,627
Costs Capitalized Subsequent to Acquisition	1,471
Gross Amount at Which Carried As of Year End
Land	830
Buildings and Improvements	12,698
Total	13,528
Accumulated Depreciation	(4,887)
1097 Tallahassee FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,331
Buildings and Improvements	19,039
Costs Capitalized Subsequent to Acquisition	123
Gross Amount at Which Carried As of Year End
Land	1,331
Buildings and Improvements	18,818
Total	20,149
Accumulated Depreciation	(5,725)
1605 Vero Beach FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	700
Buildings and Improvements	16,234
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	700
Buildings and Improvements	15,484
Total	16,184
Accumulated Depreciation	(3,539)
1257 Vero Beach FL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,035
Buildings and Improvements	34,993
Costs Capitalized Subsequent to Acquisition	201
Gross Amount at Which Carried As of Year End
Land	2,035
Buildings and Improvements	33,634
Total	35,669
Accumulated Depreciation	(10,298)
2165 Hartwell GA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	368
Buildings and Improvements	6,337
Costs Capitalized Subsequent to Acquisition	320
Gross Amount at Which Carried As of Year End
Land	368
Buildings and Improvements	6,657
Total	7,025
Accumulated Depreciation	(1,235)
2066 Lawrenceville GA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	581
Buildings and Improvements	2,669
Costs Capitalized Subsequent to Acquisition	576
Gross Amount at Which Carried As of Year End
Land	581
Buildings and Improvements	3,245
Total	3,826
Accumulated Depreciation	(860)
1241 Lilburn GA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	907
Buildings and Improvements	17,340
Costs Capitalized Subsequent to Acquisition	370
Gross Amount at Which Carried As of Year End
Land	907
Buildings and Improvements	17,125
Total	18,032
Accumulated Depreciation	(5,296)
2086 Newnan GA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,227
Buildings and Improvements	4,202
Costs Capitalized Subsequent to Acquisition	533
Gross Amount at Which Carried As of Year End
Land	1,227
Buildings and Improvements	4,735
Total	5,962
Accumulated Depreciation	(1,183)
1005 Oak Park IL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,476
Buildings and Improvements	35,259
Costs Capitalized Subsequent to Acquisition	1,862
Gross Amount at Which Carried As of Year End
Land	3,476
Buildings and Improvements	36,575
Total	40,051
Accumulated Depreciation	(10,507)
1162 Orland Park IL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,623
Buildings and Improvements	23,154
Costs Capitalized Subsequent to Acquisition	1,732
Gross Amount at Which Carried As of Year End
Land	2,623
Buildings and Improvements	24,111
Total	26,734
Accumulated Depreciation	(7,514)
1237 Wilmette IL | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,100
Buildings and Improvements	9,373
Costs Capitalized Subsequent to Acquisition	791
Gross Amount at Which Carried As of Year End
Land	1,100
Buildings and Improvements	9,940
Total	11,040
Accumulated Depreciation	(3,091)
2115 Murray KY | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	288
Buildings and Improvements	7,400
Costs Capitalized Subsequent to Acquisition	319
Gross Amount at Which Carried As of Year End
Land	288
Buildings and Improvements	7,719
Total	8,007
Accumulated Depreciation	(1,574)
1249 Frederick MD | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	609
Buildings and Improvements	9,158
Costs Capitalized Subsequent to Acquisition	1,217
Gross Amount at Which Carried As of Year End
Land	609
Buildings and Improvements	9,811
Total	10,420
Accumulated Depreciation	(2,948)
546 Cape Elizabeth ME | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	630
Buildings and Improvements	3,524
Costs Capitalized Subsequent to Acquisition	93
Gross Amount at Which Carried As of Year End
Land	630
Buildings and Improvements	3,617
Total	4,247
Accumulated Depreciation	(1,428)
545 Saco ME | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	80
Buildings and Improvements	2,363
Costs Capitalized Subsequent to Acquisition	155
Gross Amount at Which Carried As of Year End
Land	80
Buildings and Improvements	2,518
Total	2,598
Accumulated Depreciation	(991)
1258 Auburn Hills MI | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,281
Buildings and Improvements	10,692
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,281
Buildings and Improvements	10,692
Total	12,973
Accumulated Depreciation	(3,274)
1248 Farmington Hills MI | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,013
Buildings and Improvements	12,119
Costs Capitalized Subsequent to Acquisition	968
Gross Amount at Which Carried As of Year End
Land	1,013
Buildings and Improvements	12,435
Total	13,448
Accumulated Depreciation	(3,928)
1259 Sterling Heights MI | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,593
Buildings and Improvements	11,500
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,593
Buildings and Improvements	11,181
Total	12,774
Accumulated Depreciation	(3,424)
1235 Des Peres MO | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,361
Buildings and Improvements	20,664
Costs Capitalized Subsequent to Acquisition	1,333
Gross Amount at Which Carried As of Year End
Land	4,361
Buildings and Improvements	21,379
Total	25,740
Accumulated Depreciation	(6,385)
1236 Richmond Heights MO | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,744
Buildings and Improvements	24,232
Costs Capitalized Subsequent to Acquisition	413
Gross Amount at Which Carried As of Year End
Land	1,744
Buildings and Improvements	23,961
Total	25,705
Accumulated Depreciation	(7,364)
853 St.Louis Mo | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,500
Buildings and Improvements	20,343
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,500
Buildings and Improvements	19,853
Total	22,353
Accumulated Depreciation	(8,327)
878 Charlotte NC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	710
Buildings and Improvements	9,559
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	710
Buildings and Improvements	9,159
Total	9,869
Accumulated Depreciation	(2,767)
2465 Charlotte NC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,373
Buildings and Improvements	10,774
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,373
Buildings and Improvements	10,774
Total	12,147
Accumulated Depreciation	(1,185)
2468 Franklin NC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,082
Buildings and Improvements	8,489
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,082
Buildings and Improvements	8,489
Total	9,571
Accumulated Depreciation	(933)
2466 Raeford NC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,304
Buildings and Improvements	10,230
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,304
Buildings and Improvements	10,230
Total	11,534
Accumulated Depreciation	(1,125)
1254 Raleigh NC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,191
Buildings and Improvements	11,532
Costs Capitalized Subsequent to Acquisition	1,198
Gross Amount at Which Carried As of Year End
Land	1,191
Buildings and Improvements	12,182
Total	13,373
Accumulated Depreciation	(3,572)
1239 Cresskill NJ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,684
Buildings and Improvements	53,927
Costs Capitalized Subsequent to Acquisition	618
Gross Amount at Which Carried As of Year End
Land	4,684
Buildings and Improvements	53,503
Total	58,187
Accumulated Depreciation	(16,460)
734 Hillsborough NJ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,042
Buildings and Improvements	10,042
Costs Capitalized Subsequent to Acquisition	796
Gross Amount at Which Carried As of Year End
Land	1,042
Buildings and Improvements	10,372
Total	11,414
Accumulated Depreciation	(3,485)
1242 Madison NJ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,157
Buildings and Improvements	19,909
Costs Capitalized Subsequent to Acquisition	252
Gross Amount at Which Carried As of Year End
Land	3,157
Buildings and Improvements	19,523
Total	22,680
Accumulated Depreciation	(5,969)
1231 Saddle River NJ | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,784
Buildings and Improvements	15,625
Costs Capitalized Subsequent to Acquisition	754
Gross Amount at Which Carried As of Year End
Land	1,784
Buildings and Improvements	15,710
Total	17,494
Accumulated Depreciation	(4,848)
796 Las Vegas NV | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,960
Buildings and Improvements	5,816
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,960
Buildings and Improvements	5,426
Total	7,386
Accumulated Depreciation	(1,820)
1252 Brooklyn NY | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,117
Buildings and Improvements	23,627
Costs Capitalized Subsequent to Acquisition	1,198
Gross Amount at Which Carried As of Year End
Land	8,117
Buildings and Improvements	23,669
Total	31,786
Accumulated Depreciation	(7,319)
1256 Brooklyn NY | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,215
Buildings and Improvements	39,052
Costs Capitalized Subsequent to Acquisition	1,290
Gross Amount at Which Carried As of Year End
Land	5,215
Buildings and Improvements	39,312
Total	44,527
Accumulated Depreciation	(12,230)
1253 Youngstown OH | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	695
Buildings and Improvements	10,444
Costs Capitalized Subsequent to Acquisition	760
Gross Amount at Which Carried As of Year End
Land	695
Buildings and Improvements	10,824
Total	11,519
Accumulated Depreciation	(3,478)
2131 Keizer OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	2,262
Initial Cost to Company
Land	551
Buildings and Improvements	6,454
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	551
Buildings and Improvements	6,454
Total	7,005
Accumulated Depreciation	(1,136)
2152 McMinnville OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,203
Buildings and Improvements	24,909
Costs Capitalized Subsequent to Acquisition	5,839
Gross Amount at Which Carried As of Year End
Land	3,203
Buildings and Improvements	29,253
Total	32,456
Accumulated Depreciation	(6,757)
2089 Newberg OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,889
Buildings and Improvements	16,855
Costs Capitalized Subsequent to Acquisition	874
Gross Amount at Which Carried As of Year End
Land	1,889
Buildings and Improvements	17,729
Total	19,618
Accumulated Depreciation	(3,025)
2133 Portland OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,615
Buildings and Improvements	12,030
Costs Capitalized Subsequent to Acquisition	189
Gross Amount at Which Carried As of Year End
Land	1,615
Buildings and Improvements	12,219
Total	13,834
Accumulated Depreciation	(1,926)
2050 Redmond OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,229
Buildings and Improvements	21,921
Costs Capitalized Subsequent to Acquisition	844
Gross Amount at Which Carried As of Year End
Land	1,229
Buildings and Improvements	22,765
Total	23,994
Accumulated Depreciation	(3,594)
2084 Roseburg OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,042
Buildings and Improvements	12,090
Costs Capitalized Subsequent to Acquisition	145
Gross Amount at Which Carried As of Year End
Land	1,042
Buildings and Improvements	12,235
Total	13,277
Accumulated Depreciation	(2,305)
2134 Scappoose OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	353
Buildings and Improvements	1,258
Costs Capitalized Subsequent to Acquisition	17
Gross Amount at Which Carried As of Year End
Land	353
Buildings and Improvements	1,275
Total	1,628
Accumulated Depreciation	(317)
2153 Scappoose OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	971
Buildings and Improvements	7,116
Costs Capitalized Subsequent to Acquisition	162
Gross Amount at Which Carried As of Year End
Land	971
Buildings and Improvements	7,278
Total	8,249
Accumulated Depreciation	(1,584)
2088 Tualatin OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,326
Costs Capitalized Subsequent to Acquisition	396
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,722
Total	6,722
Accumulated Depreciation	(1,687)
2180 Windfield Village OR | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	2,456
Initial Cost to Company
Land	580
Buildings and Improvements	9,817
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	580
Buildings and Improvements	9,817
Total	10,397
Accumulated Depreciation	(1,723)
1163 Haverford PA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	16,461
Buildings and Improvements	108,816
Costs Capitalized Subsequent to Acquisition	14,337
Gross Amount at Which Carried As of Year End
Land	16,461
Buildings and Improvements	118,289
Total	134,750
Accumulated Depreciation	(37,303)
2063 Selinsgrove PA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	529
Buildings and Improvements	9,111
Costs Capitalized Subsequent to Acquisition	255
Gross Amount at Which Carried As of Year End
Land	529
Buildings and Improvements	9,366
Total	9,895
Accumulated Depreciation	(1,971)
1973 South Kingstown RI | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,390
Buildings and Improvements	12,551
Costs Capitalized Subsequent to Acquisition	630
Gross Amount at Which Carried As of Year End
Land	1,390
Buildings and Improvements	12,918
Total	14,308
Accumulated Depreciation	(3,660)
1975 Tiverton RI | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,240
Buildings and Improvements	25,735
Costs Capitalized Subsequent to Acquisition	651
Gross Amount at Which Carried As of Year End
Land	3,240
Buildings and Improvements	25,939
Total	29,179
Accumulated Depreciation	(7,152)
1104 Aiken SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	357
Buildings and Improvements	14,832
Costs Capitalized Subsequent to Acquisition	151
Gross Amount at Which Carried As of Year End
Land	363
Buildings and Improvements	14,395
Total	14,758
Accumulated Depreciation	(4,447)
1109 Columbia SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	408
Buildings and Improvements	7,527
Costs Capitalized Subsequent to Acquisition	131
Gross Amount at Which Carried As of Year End
Land	412
Buildings and Improvements	7,411
Total	7,823
Accumulated Depreciation	(2,311)
306 Georgetown SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	239
Buildings and Improvements	3,008
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	239
Buildings and Improvements	3,008
Total	3,247
Accumulated Depreciation	(1,303)
879 Greenville SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,090
Buildings and Improvements	12,558
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,090
Buildings and Improvements	12,058
Total	13,148
Accumulated Depreciation	(3,642)
305 Lancaster SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	84
Buildings and Improvements	2,982
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	84
Buildings and Improvements	2,982
Total	3,066
Accumulated Depreciation	(1,208)
880 Myrtle Beach SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	900
Buildings and Improvements	10,913
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	900
Buildings and Improvements	10,513
Total	11,413
Accumulated Depreciation	(3,176)
312 Rock Hill SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	203
Buildings and Improvements	2,671
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	203
Buildings and Improvements	2,671
Total	2,874
Accumulated Depreciation	(1,136)
1113 Rock Hill SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	695
Buildings and Improvements	4,119
Costs Capitalized Subsequent to Acquisition	322
Gross Amount at Which Carried As of Year End
Land	795
Buildings and Improvements	4,074
Total	4,869
Accumulated Depreciation	(1,440)
313 Sumter SC | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	196
Buildings and Improvements	2,623
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	196
Buildings and Improvements	2,623
Total	2,819
Accumulated Depreciation	(1,136)
2073 Kingsport TN | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,113
Buildings and Improvements	8,625
Costs Capitalized Subsequent to Acquisition	335
Gross Amount at Which Carried As of Year End
Land	1,113
Buildings and Improvements	8,960
Total	10,073
Accumulated Depreciation	(1,732)
1003 Nashville TN | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	812
Buildings and Improvements	16,983
Costs Capitalized Subsequent to Acquisition	2,524
Gross Amount at Which Carried As of Year End
Land	812
Buildings and Improvements	18,759
Total	19,571
Accumulated Depreciation	(5,180)
843 Abilene TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	300
Buildings and Improvements	2,830
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	300
Buildings and Improvements	2,710
Total	3,010
Accumulated Depreciation	(853)
2107 Amarillo TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,315
Buildings and Improvements	26,838
Costs Capitalized Subsequent to Acquisition	894
Gross Amount at Which Carried As of Year End
Land	1,315
Buildings and Improvements	27,732
Total	29,047
Accumulated Depreciation	(4,649)
511 Austin TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,960
Buildings and Improvements	41,645
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,960
Buildings and Improvements	41,645
Total	44,605
Accumulated Depreciation	(21,169)
2075 Bedford TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,204
Buildings and Improvements	26,845
Costs Capitalized Subsequent to Acquisition	1,704
Gross Amount at Which Carried As of Year End
Land	1,204
Buildings and Improvements	28,549
Total	29,753
Accumulated Depreciation	(5,120)
844 Burleson TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,050
Buildings and Improvements	5,242
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,050
Buildings and Improvements	4,902
Total	5,952
Accumulated Depreciation	(1,542)
848 Cedar Hill TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,070
Buildings and Improvements	11,554
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,070
Buildings and Improvements	11,104
Total	12,174
Accumulated Depreciation	(3,493)
1325 Cedar Hill TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	440
Buildings and Improvements	7,494
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	440
Buildings and Improvements	6,974
Total	7,414
Accumulated Depreciation	(2,048)
1106 Houston TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,008
Buildings and Improvements	15,333
Costs Capitalized Subsequent to Acquisition	183
Gross Amount at Which Carried As of Year End
Land	1,020
Buildings and Improvements	14,955
Total	15,975
Accumulated Depreciation	(4,601)
845 North Richland Hills TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	520
Buildings and Improvements	5,117
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	520
Buildings and Improvements	4,807
Total	5,327
Accumulated Depreciation	(1,512)
846 North Richland Hills TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	870
Buildings and Improvements	9,259
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	870
Buildings and Improvements	8,819
Total	9,689
Accumulated Depreciation	(3,171)
2162 Portland TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,233
Buildings and Improvements	14,001
Costs Capitalized Subsequent to Acquisition	3,027
Gross Amount at Which Carried As of Year End
Land	1,233
Buildings and Improvements	17,028
Total	18,261
Accumulated Depreciation	(3,484)
2116 Sherman TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	209
Buildings and Improvements	3,492
Costs Capitalized Subsequent to Acquisition	187
Gross Amount at Which Carried As of Year End
Land	209
Buildings and Improvements	3,679
Total	3,888
Accumulated Depreciation	(787)
847 Waxahachie TX | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	390
Buildings and Improvements	3,879
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	390
Buildings and Improvements	3,659
Total	4,049
Accumulated Depreciation	(1,151)
2470 Abingdon VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,584
Buildings and Improvements	12,431
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,584
Buildings and Improvements	12,431
Total	14,015
Accumulated Depreciation	(1,367)
1244 Arlington VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,833
Buildings and Improvements	7,076
Costs Capitalized Subsequent to Acquisition	940
Gross Amount at Which Carried As of Year End
Land	3,833
Buildings and Improvements	7,573
Total	11,406
Accumulated Depreciation	(2,456)
1245 Arlington VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,278
Buildings and Improvements	37,407
Costs Capitalized Subsequent to Acquisition	3,543
Gross Amount at Which Carried As of Year End
Land	7,278
Buildings and Improvements	39,779
Total	47,057
Accumulated Depreciation	(12,340)
881 Chesapeake VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,090
Buildings and Improvements	12,444
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,090
Buildings and Improvements	11,944
Total	13,034
Accumulated Depreciation	(3,608)
1247 Falls Church VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,228
Buildings and Improvements	8,887
Costs Capitalized Subsequent to Acquisition	969
Gross Amount at Which Carried As of Year End
Land	2,228
Buildings and Improvements	9,522
Total	11,750
Accumulated Depreciation	(3,051)
1164 Fort Belvoir VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,594
Buildings and Improvements	99,528
Costs Capitalized Subsequent to Acquisition	12,927
Gross Amount at Which Carried As of Year End
Land	11,594
Buildings and Improvements	109,472
Total	121,066
Accumulated Depreciation	(35,474)
1250 Leesburg VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	607
Buildings and Improvements	3,236
Costs Capitalized Subsequent to Acquisition	275
Gross Amount at Which Carried As of Year End
Land	607
Buildings and Improvements	3,296
Total	3,903
Accumulated Depreciation	(3,415)
1246 Sterling VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,360
Buildings and Improvements	22,932
Costs Capitalized Subsequent to Acquisition	1,279
Gross Amount at Which Carried As of Year End
Land	2,360
Buildings and Improvements	23,297
Total	25,657
Accumulated Depreciation	(7,241)
225 Woodbridge VA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	950
Buildings and Improvements	6,983
Costs Capitalized Subsequent to Acquisition	1,652
Gross Amount at Which Carried As of Year End
Land	950
Buildings and Improvements	8,460
Total	9,410
Accumulated Depreciation	(3,916)
2095 College Place WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	758
Buildings and Improvements	8,051
Costs Capitalized Subsequent to Acquisition	720
Gross Amount at Which Carried As of Year End
Land	758
Buildings and Improvements	8,771
Total	9,529
Accumulated Depreciation	(1,814)
1240 Edmonds WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,418
Buildings and Improvements	16,502
Costs Capitalized Subsequent to Acquisition	155
Gross Amount at Which Carried As of Year End
Land	1,418
Buildings and Improvements	16,138
Total	17,556
Accumulated Depreciation	(4,953)
797 Kirkland WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,000
Buildings and Improvements	13,403
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	13,043
Total	14,043
Accumulated Depreciation	(4,375)
1251 Mercer Island WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,209
Buildings and Improvements	8,123
Costs Capitalized Subsequent to Acquisition	640
Gross Amount at Which Carried As of Year End
Land	4,209
Buildings and Improvements	8,253
Total	12,462
Accumulated Depreciation	(2,575)
2096 Poulsbo WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,801
Buildings and Improvements	18,068
Costs Capitalized Subsequent to Acquisition	231
Gross Amount at Which Carried As of Year End
Land	1,801
Buildings and Improvements	18,299
Total	20,100
Accumulated Depreciation	(3,288)
2102 Richland WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	249
Buildings and Improvements	5,067
Costs Capitalized Subsequent to Acquisition	138
Gross Amount at Which Carried As of Year End
Land	249
Buildings and Improvements	5,205
Total	5,454
Accumulated Depreciation	(926)
794 Shoreline WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,590
Buildings and Improvements	10,671
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,590
Buildings and Improvements	10,261
Total	11,851
Accumulated Depreciation	(3,442)
795 Shoreline WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,030
Buildings and Improvements	26,421
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	4,030
Buildings and Improvements	25,651
Total	29,681
Accumulated Depreciation	(8,542)
2061 Vancouver WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	513
Buildings and Improvements	4,556
Costs Capitalized Subsequent to Acquisition	263
Gross Amount at Which Carried As of Year End
Land	513
Buildings and Improvements	4,819
Total	5,332
Accumulated Depreciation	(1,092)
2062 Vancouver WA | Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,498
Buildings and Improvements	9,997
Costs Capitalized Subsequent to Acquisition	211
Gross Amount at Which Carried As of Year End
Land	1,498
Buildings and Improvements	10,207
Total	11,705
Accumulated Depreciation	(1,787)
1974 Sun City AZ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,640
Buildings and Improvements	33,223
Costs Capitalized Subsequent to Acquisition	3,260
Gross Amount at Which Carried As of Year End
Land	2,640
Buildings and Improvements	35,953
Total	38,593
Accumulated Depreciation	(10,613)
1965 Fresno CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,730
Buildings and Improvements	31,918
Costs Capitalized Subsequent to Acquisition	2,583
Gross Amount at Which Carried As of Year End
Land	1,730
Buildings and Improvements	34,071
Total	35,801
Accumulated Depreciation	(9,839)
2593 Irvine CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,220
Buildings and Improvements	14,104
Costs Capitalized Subsequent to Acquisition	3,191
Gross Amount at Which Carried As of Year End
Land	8,220
Buildings and Improvements	16,755
Total	24,975
Accumulated Depreciation	(3,846)
2792 Santa Rosa CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2792 Santa Rosa CA | Senior housing | Operating segment
Initial Cost to Company
Land	3,582
Buildings and Improvements	21,113
Costs Capitalized Subsequent to Acquisition	2,314
Gross Amount at Which Carried As of Year End
Land	3,627
Buildings and Improvements	22,087
Total	25,714
Accumulated Depreciation	(6,971)
1966 Sun City CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,650
Buildings and Improvements	22,709
Costs Capitalized Subsequent to Acquisition	4,471
Gross Amount at Which Carried As of Year End
Land	2,650
Buildings and Improvements	26,725
Total	29,375
Accumulated Depreciation	(8,704)
2505 Arvada CO | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,788
Buildings and Improvements	29,896
Costs Capitalized Subsequent to Acquisition	1,744
Gross Amount at Which Carried As of Year End
Land	1,788
Buildings and Improvements	31,640
Total	33,428
Accumulated Depreciation	(3,885)
2506 Boulder CO | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,424
Buildings and Improvements	36,746
Costs Capitalized Subsequent to Acquisition	2,064
Gross Amount at Which Carried As of Year End
Land	2,424
Buildings and Improvements	38,810
Total	41,234
Accumulated Depreciation	(3,546)
2515 Denver CO | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,311
Buildings and Improvements	18,645
Costs Capitalized Subsequent to Acquisition	2,204
Gross Amount at Which Carried As of Year End
Land	2,311
Buildings and Improvements	20,849
Total	23,160
Accumulated Depreciation	(3,673)
2508 Lakewood CO | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,384
Buildings and Improvements	60,795
Costs Capitalized Subsequent to Acquisition	2,244
Gross Amount at Which Carried As of Year End
Land	4,384
Buildings and Improvements	63,039
Total	67,423
Accumulated Depreciation	(7,050)
2509 Lakewood CO | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,296
Buildings and Improvements	37,236
Costs Capitalized Subsequent to Acquisition	1,815
Gross Amount at Which Carried As of Year End
Land	2,296
Buildings and Improvements	39,051
Total	41,347
Accumulated Depreciation	(3,664)
2782 Glastonbury CT | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2782 Glastonbury CT | Senior housing | Operating segment
Initial Cost to Company
Land	1,658
Buildings and Improvements	16,046
Costs Capitalized Subsequent to Acquisition	653
Gross Amount at Which Carried As of Year End
Land	1,658
Buildings and Improvements	16,699
Total	18,357
Accumulated Depreciation	(3,148)
2783 Torrington CT | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2783 Torrington CT | Senior housing | Operating segment
Initial Cost to Company
Land	166
Buildings and Improvements	11,001
Costs Capitalized Subsequent to Acquisition	4,637
Gross Amount at Which Carried As of Year End
Land	166
Buildings and Improvements	15,228
Total	15,394
Accumulated Depreciation	(4,941)
2603 Boca Raton FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,415
Buildings and Improvements	17,923
Costs Capitalized Subsequent to Acquisition	2,062
Gross Amount at Which Carried As of Year End
Land	2,415
Buildings and Improvements	18,960
Total	21,375
Accumulated Depreciation	(5,124)
1963 Boynton Beach FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,550
Buildings and Improvements	31,521
Costs Capitalized Subsequent to Acquisition	4,971
Gross Amount at Which Carried As of Year End
Land	2,550
Buildings and Improvements	35,827
Total	38,377
Accumulated Depreciation	(11,022)
1964 Boynton Beach FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	570
Buildings and Improvements	5,649
Costs Capitalized Subsequent to Acquisition	2,550
Gross Amount at Which Carried As of Year End
Land	570
Buildings and Improvements	8,006
Total	8,576
Accumulated Depreciation	(3,052)
2602 Boynton Beach FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,270
Buildings and Improvements	4,773
Costs Capitalized Subsequent to Acquisition	4,124
Gross Amount at Which Carried As of Year End
Land	1,270
Buildings and Improvements	7,123
Total	8,393
Accumulated Depreciation	(1,589)
2520 Clearwater FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,250
Buildings and Improvements	2,627
Costs Capitalized Subsequent to Acquisition	2,284
Gross Amount at Which Carried As of Year End
Land	2,250
Buildings and Improvements	4,331
Total	6,581
Accumulated Depreciation	(1,353)
2604 Coconut Creek, FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,461
Buildings and Improvements	16,006
Costs Capitalized Subsequent to Acquisition	3,026
Gross Amount at Which Carried As of Year End
Land	2,461
Buildings and Improvements	17,598
Total	20,059
Accumulated Depreciation	(4,568)
2601 Delray Beach FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	850
Buildings and Improvements	6,637
Costs Capitalized Subsequent to Acquisition	3,139
Gross Amount at Which Carried As of Year End
Land	850
Buildings and Improvements	8,863
Total	9,713
Accumulated Depreciation	(2,587)
2517 Ft Lauderdale FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,867
Buildings and Improvements	43,126
Costs Capitalized Subsequent to Acquisition	4,806
Gross Amount at Which Carried As of Year End
Land	2,867
Buildings and Improvements	47,776
Total	50,643
Accumulated Depreciation	(6,847)
2592 Lantana FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,520
Buildings and Improvements	26,452
Costs Capitalized Subsequent to Acquisition	1,317
Gross Amount at Which Carried As of Year End
Land	3,520
Buildings and Improvements	26,969
Total	30,489
Accumulated Depreciation	(10,731)
2522 Lutz FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	902
Buildings and Improvements	15,169
Costs Capitalized Subsequent to Acquisition	2,494
Gross Amount at Which Carried As of Year End
Land	902
Buildings and Improvements	17,663
Total	18,565
Accumulated Depreciation	(1,759)
2523 Orange City FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	912
Buildings and Improvements	9,724
Costs Capitalized Subsequent to Acquisition	1,320
Gross Amount at Which Carried As of Year End
Land	912
Buildings and Improvements	11,044
Total	11,956
Accumulated Depreciation	(1,599)
2775 Port Orange FL | Senior housing | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,340
Buildings and Improvements	9,898
Costs Capitalized Subsequent to Acquisition	1,498
Gross Amount at Which Carried As of Year End
Land	2,340
Buildings and Improvements	10,875
Total	13,215
Accumulated Depreciation	(3,737)
2524 Port St Lucie FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	893
Buildings and Improvements	10,333
Costs Capitalized Subsequent to Acquisition	1,319
Gross Amount at Which Carried As of Year End
Land	893
Buildings and Improvements	11,652
Total	12,545
Accumulated Depreciation	(1,802)
1971 Sarasota FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,050
Buildings and Improvements	29,516
Costs Capitalized Subsequent to Acquisition	7,938
Gross Amount at Which Carried As of Year End
Land	3,050
Buildings and Improvements	37,025
Total	40,075
Accumulated Depreciation	(11,489)
2861 Springtree FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,066
Buildings and Improvements	15,874
Costs Capitalized Subsequent to Acquisition	1,451
Gross Amount at Which Carried As of Year End
Land	1,066
Buildings and Improvements	8,429
Total	9,495
Accumulated Depreciation	(3,258)
2526 Tamarac FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	970
Buildings and Improvements	16,037
Costs Capitalized Subsequent to Acquisition	1,577
Gross Amount at Which Carried As of Year End
Land	970
Buildings and Improvements	17,614
Total	18,584
Accumulated Depreciation	(1,943)
2527 Vero Beach FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,048
Buildings and Improvements	17,392
Costs Capitalized Subsequent to Acquisition	1,762
Gross Amount at Which Carried As of Year End
Land	1,048
Buildings and Improvements	19,154
Total	20,202
Accumulated Depreciation	(2,124)
2858 Canton GA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2858 Canton GA | Senior housing | Operating segment
Initial Cost to Company
Land	401
Buildings and Improvements	17,888
Costs Capitalized Subsequent to Acquisition	473
Gross Amount at Which Carried As of Year End
Land	401
Buildings and Improvements	6,609
Total	7,010
Accumulated Depreciation	(2,881)
2859 Bufford GA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2859 Bufford GA | Senior housing | Operating segment
Initial Cost to Company
Land	562
Buildings and Improvements	3,604
Costs Capitalized Subsequent to Acquisition	500
Gross Amount at Which Carried As of Year End
Land	562
Buildings and Improvements	4,104
Total	4,666
Accumulated Depreciation	(994)
2860 Bufford GA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2860 Bufford GA | Senior housing | Operating segment
Initial Cost to Company
Land	536
Buildings and Improvements	3,142
Costs Capitalized Subsequent to Acquisition	343
Gross Amount at Which Carried As of Year End
Land	536
Buildings and Improvements	3,485
Total	4,021
Accumulated Depreciation	(803)
2200 Deer Park IL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,172
Buildings and Improvements	2,417
Costs Capitalized Subsequent to Acquisition	44,603
Gross Amount at Which Carried As of Year End
Land	4,229
Buildings and Improvements	44,546
Total	48,775
Accumulated Depreciation	(3,584)
1961 Olympia Fields IL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,120
Buildings and Improvements	29,400
Costs Capitalized Subsequent to Acquisition	4,420
Gross Amount at Which Carried As of Year End
Land	4,120
Buildings and Improvements	33,294
Total	37,414
Accumulated Depreciation	(9,914)
1952 Vernon Hills IL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,900
Buildings and Improvements	45,854
Costs Capitalized Subsequent to Acquisition	7,677
Gross Amount at Which Carried As of Year End
Land	4,900
Buildings and Improvements	52,835
Total	57,735
Accumulated Depreciation	(16,017)
2595 Indianapolis IN | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,197
Buildings and Improvements	7,718
Costs Capitalized Subsequent to Acquisition	1,092
Gross Amount at Which Carried As of Year End
Land	1,197
Buildings and Improvements	8,578
Total	9,775
Accumulated Depreciation	(2,448)
2596 W Lafayette IN | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	813
Buildings and Improvements	10,876
Costs Capitalized Subsequent to Acquisition	1,432
Gross Amount at Which Carried As of Year End
Land	813
Buildings and Improvements	8,011
Total	8,824
Accumulated Depreciation	(3,433)
2778 Louisville KY | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2778 Louisville KY | Senior housing | Operating segment
Initial Cost to Company
Land	1,499
Buildings and Improvements	26,252
Costs Capitalized Subsequent to Acquisition	734
Gross Amount at Which Carried As of Year End
Land	1,513
Buildings and Improvements	26,138
Total	27,651
Accumulated Depreciation	(7,869)
2787 Plymouth MA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2787 Plymouth MA | Senior housing | Operating segment
Initial Cost to Company
Land	2,434
Buildings and Improvements	9,027
Costs Capitalized Subsequent to Acquisition	1,033
Gross Amount at Which Carried As of Year End
Land	2,438
Buildings and Improvements	9,260
Total	11,698
Accumulated Depreciation	(2,855)
2746 Watertown, MA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,828
Buildings and Improvements	29,317
Costs Capitalized Subsequent to Acquisition	203
Gross Amount at Which Carried As of Year End
Land	8,828
Buildings and Improvements	29,520
Total	38,348
Accumulated Depreciation	(923)
2583 Ellicott City MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	18,985
Initial Cost to Company
Land	3,607
Buildings and Improvements	31,720
Costs Capitalized Subsequent to Acquisition	1,626
Gross Amount at Which Carried As of Year End
Land	3,607
Buildings and Improvements	33,346
Total	36,953
Accumulated Depreciation	(2,413)
2584 Hanover MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	8,839
Initial Cost to Company
Land	4,513
Buildings and Improvements	25,625
Costs Capitalized Subsequent to Acquisition	1,208
Gross Amount at Which Carried As of Year End
Land	4,513
Buildings and Improvements	26,833
Total	31,346
Accumulated Depreciation	(1,907)
2585 Laurel MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,733
Initial Cost to Company
Land	3,895
Buildings and Improvements	13,331
Costs Capitalized Subsequent to Acquisition	1,279
Gross Amount at Which Carried As of Year End
Land	3,895
Buildings and Improvements	14,610
Total	18,505
Accumulated Depreciation	(1,381)
2541 Olney MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,580
Buildings and Improvements	33,802
Costs Capitalized Subsequent to Acquisition	228
Gross Amount at Which Carried As of Year End
Land	1,580
Buildings and Improvements	34,030
Total	35,610
Accumulated Depreciation	(3,309)
2586 Parkville MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	20,485
Initial Cost to Company
Land	3,854
Buildings and Improvements	29,061
Costs Capitalized Subsequent to Acquisition	1,209
Gross Amount at Which Carried As of Year End
Land	3,854
Buildings and Improvements	30,270
Total	34,124
Accumulated Depreciation	(2,558)
2587 Waldorf MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	8,289
Initial Cost to Company
Land	392
Buildings and Improvements	20,514
Costs Capitalized Subsequent to Acquisition	868
Gross Amount at Which Carried As of Year End
Land	392
Buildings and Improvements	21,382
Total	21,774
Accumulated Depreciation	(1,507)
2788 Westminster MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2788 Westminster MD | Senior housing | Operating segment
Initial Cost to Company
Land	768
Buildings and Improvements	5,251
Costs Capitalized Subsequent to Acquisition	1,963
Gross Amount at Which Carried As of Year End
Land	768
Buildings and Improvements	6,902
Total	7,670
Accumulated Depreciation	(2,908)
2776 Mooresville NC | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2776 Mooresville NC | Senior housing | Operating segment
Initial Cost to Company
Land	2,538
Buildings and Improvements	37,617
Costs Capitalized Subsequent to Acquisition	2,114
Gross Amount at Which Carried As of Year End
Land	2,538
Buildings and Improvements	39,731
Total	42,269
Accumulated Depreciation	(6,653)
2780 Cherry Hill NJ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2780 Cherry Hill NJ | Senior housing | Operating segment
Initial Cost to Company
Land	2,420
Buildings and Improvements	11,042
Costs Capitalized Subsequent to Acquisition	2,545
Gross Amount at Which Carried As of Year End
Land	2,420
Buildings and Improvements	13,037
Total	15,457
Accumulated Depreciation	(4,374)
2781 Manahawkin NJ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2781 Manahawkin NJ | Senior housing | Operating segment
Initial Cost to Company
Land	921
Buildings and Improvements	9,927
Costs Capitalized Subsequent to Acquisition	891
Gross Amount at Which Carried As of Year End
Land	921
Buildings and Improvements	10,352
Total	11,273
Accumulated Depreciation	(3,544)
2779 Voorhees Township NJ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2779 Voorhees Township NJ | Senior housing | Operating segment
Initial Cost to Company
Land	900
Buildings and Improvements	7,629
Costs Capitalized Subsequent to Acquisition	934
Gross Amount at Which Carried As of Year End
Land	900
Buildings and Improvements	8,224
Total	9,124
Accumulated Depreciation	(3,542)
2589 Albuquerque NM | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	767
Buildings and Improvements	9,324
Costs Capitalized Subsequent to Acquisition	539
Gross Amount at Which Carried As of Year End
Land	767
Buildings and Improvements	9,364
Total	10,131
Accumulated Depreciation	(4,322)
2516 Centerville OH | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,065
Buildings and Improvements	10,901
Costs Capitalized Subsequent to Acquisition	1,658
Gross Amount at Which Carried As of Year End
Land	1,065
Buildings and Improvements	12,559
Total	13,624
Accumulated Depreciation	(2,337)
2512 Cincinnati OH | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,180
Buildings and Improvements	6,157
Costs Capitalized Subsequent to Acquisition	2,702
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	8,859
Total	10,039
Accumulated Depreciation	(2,137)
2597 Fairborn OH | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	298
Buildings and Improvements	10,704
Costs Capitalized Subsequent to Acquisition	3,983
Gross Amount at Which Carried As of Year End
Land	298
Buildings and Improvements	14,456
Total	14,754
Accumulated Depreciation	(4,140)
2789 Portland OR | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	16,087
Costs Capitalized Subsequent to Acquisition	486
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,573
Total	16,573
Accumulated Depreciation	(2,512)
1962 Warwick RI | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,050
Buildings and Improvements	17,389
Costs Capitalized Subsequent to Acquisition	5,807
Gross Amount at Which Carried As of Year End
Land	1,050
Buildings and Improvements	22,841
Total	23,891
Accumulated Depreciation	(6,867)
2401 Germantown TN | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,640
Buildings and Improvements	64,588
Costs Capitalized Subsequent to Acquisition	528
Gross Amount at Which Carried As of Year End
Land	3,640
Buildings and Improvements	65,116
Total	68,756
Accumulated Depreciation	(7,538)
2784 Arlington TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2784 Arlington TX | Senior housing | Operating segment
Initial Cost to Company
Land	2,494
Buildings and Improvements	12,192
Costs Capitalized Subsequent to Acquisition	576
Gross Amount at Which Carried As of Year End
Land	2,540
Buildings and Improvements	12,012
Total	14,552
Accumulated Depreciation	(3,622)
2608 Arlington TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,002
Buildings and Improvements	19,110
Costs Capitalized Subsequent to Acquisition	239
Gross Amount at Which Carried As of Year End
Land	2,002
Buildings and Improvements	18,968
Total	20,970
Accumulated Depreciation	(5,553)
2531 Austin TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	607
Buildings and Improvements	15,972
Costs Capitalized Subsequent to Acquisition	573
Gross Amount at Which Carried As of Year End
Land	607
Buildings and Improvements	16,545
Total	17,152
Accumulated Depreciation	(1,624)
2786 Friendswood TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	400
Buildings and Improvements	7,354
Costs Capitalized Subsequent to Acquisition	723
Gross Amount at Which Carried As of Year End
Land	400
Buildings and Improvements	7,756
Total	8,156
Accumulated Depreciation	(2,776)
2529 Grand Prairie TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	865
Buildings and Improvements	10,650
Costs Capitalized Subsequent to Acquisition	1,395
Gross Amount at Which Carried As of Year End
Land	865
Buildings and Improvements	12,045
Total	12,910
Accumulated Depreciation	(1,728)
1955 Houston TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,820
Buildings and Improvements	50,079
Costs Capitalized Subsequent to Acquisition	11,978
Gross Amount at Which Carried As of Year End
Land	9,820
Buildings and Improvements	60,746
Total	70,566
Accumulated Depreciation	(19,773)
1957 Houston TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,170
Buildings and Improvements	37,285
Costs Capitalized Subsequent to Acquisition	6,545
Gross Amount at Which Carried As of Year End
Land	8,170
Buildings and Improvements	42,999
Total	51,169
Accumulated Depreciation	(13,451)
2785 Houston TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	835
Buildings and Improvements	7,195
Costs Capitalized Subsequent to Acquisition	671
Gross Amount at Which Carried As of Year End
Land	835
Buildings and Improvements	7,866
Total	8,701
Accumulated Depreciation	(3,557)
2402 Houston TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,740
Buildings and Improvements	32,057
Costs Capitalized Subsequent to Acquisition	153
Gross Amount at Which Carried As of Year End
Land	1,740
Buildings and Improvements	32,210
Total	33,950
Accumulated Depreciation	(3,840)
2606 Houston TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,470
Buildings and Improvements	21,710
Costs Capitalized Subsequent to Acquisition	4,132
Gross Amount at Which Carried As of Year End
Land	2,470
Buildings and Improvements	24,992
Total	27,462
Accumulated Depreciation	(11,297)
2530 North Richland Hills TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,190
Buildings and Improvements	17,756
Costs Capitalized Subsequent to Acquisition	1,493
Gross Amount at Which Carried As of Year End
Land	1,190
Buildings and Improvements	19,249
Total	20,439
Accumulated Depreciation	(2,434)
2532 San Antonio Tx | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	613
Buildings and Improvements	5,874
Costs Capitalized Subsequent to Acquisition	1,027
Gross Amount at Which Carried As of Year End
Land	613
Buildings and Improvements	6,901
Total	7,514
Accumulated Depreciation	(1,367)
2607 San Antonio TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	730
Buildings and Improvements	3,961
Costs Capitalized Subsequent to Acquisition	421
Gross Amount at Which Carried As of Year End
Land	730
Buildings and Improvements	4,067
Total	4,797
Accumulated Depreciation	(1,500)
2533 San Marcos TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	765
Buildings and Improvements	18,175
Costs Capitalized Subsequent to Acquisition	996
Gross Amount at Which Carried As of Year End
Land	765
Buildings and Improvements	19,171
Total	19,936
Accumulated Depreciation	(1,980)
1954 Sugar Land TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,420
Buildings and Improvements	36,846
Costs Capitalized Subsequent to Acquisition	6,275
Gross Amount at Which Carried As of Year End
Land	3,420
Buildings and Improvements	42,422
Total	45,842
Accumulated Depreciation	(13,190)
2510 Temple TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,354
Buildings and Improvements	52,859
Costs Capitalized Subsequent to Acquisition	1,384
Gross Amount at Which Carried As of Year End
Land	2,354
Buildings and Improvements	54,243
Total	56,597
Accumulated Depreciation	(5,438)
2400 Victoria, TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,032
Buildings and Improvements	7,743
Costs Capitalized Subsequent to Acquisition	2,406
Gross Amount at Which Carried As of Year End
Land	1,032
Buildings and Improvements	9,253
Total	10,285
Accumulated Depreciation	(1,347)
2605 Victoria, TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	175
Buildings and Improvements	4,290
Costs Capitalized Subsequent to Acquisition	5,589
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	8,424
Total	8,599
Accumulated Depreciation	(2,878)
1953 Webster, TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,780
Buildings and Improvements	30,854
Costs Capitalized Subsequent to Acquisition	8,547
Gross Amount at Which Carried As of Year End
Land	4,780
Buildings and Improvements	35,409
Total	40,189
Accumulated Depreciation	(9,958)
2582 Fredericksburg VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,370
Buildings and Improvements	19,725
Costs Capitalized Subsequent to Acquisition	157
Gross Amount at Which Carried As of Year End
Land	2,370
Buildings and Improvements	19,882
Total	22,252
Accumulated Depreciation	(1,260)
2581 Leesburg VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,039
Initial Cost to Company
Land	1,340
Buildings and Improvements	17,605
Costs Capitalized Subsequent to Acquisition	1,054
Gross Amount at Which Carried As of Year End
Land	1,340
Buildings and Improvements	18,659
Total	19,999
Accumulated Depreciation	(1,304)
2514 Richmond VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,981
Buildings and Improvements	54,203
Costs Capitalized Subsequent to Acquisition	2,437
Gross Amount at Which Carried As of Year End
Land	2,981
Buildings and Improvements	56,640
Total	59,621
Accumulated Depreciation	(5,253)
2777 Sterling VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,046
Buildings and Improvements	15,788
Costs Capitalized Subsequent to Acquisition	599
Gross Amount at Which Carried As of Year End
Land	1,046
Buildings and Improvements	16,378
Total	17,424
Accumulated Depreciation	(2,690)
2790 Bellevue WA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,734
Buildings and Improvements	16,171
Costs Capitalized Subsequent to Acquisition	775
Gross Amount at Which Carried As of Year End
Land	3,737
Buildings and Improvements	16,224
Total	19,961
Accumulated Depreciation	(5,014)
2791 Kenmore WA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,284
Buildings and Improvements	16,641
Costs Capitalized Subsequent to Acquisition	694
Gross Amount at Which Carried As of Year End
Land	3,284
Buildings and Improvements	17,335
Total	20,619
Accumulated Depreciation	(2,954)
2745 Madison, WI | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	834
Buildings and Improvements	10,050
Costs Capitalized Subsequent to Acquisition	449
Gross Amount at Which Carried As of Year End
Land	834
Buildings and Improvements	10,499
Total	11,333
Accumulated Depreciation	(2,116)
1483 Brisbane CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,498
Buildings and Improvements	500
Costs Capitalized Subsequent to Acquisition	5,740
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	6,240
Total	14,738
Accumulated Depreciation	0
1484 Brisbane CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Buildings and Improvements	689
Costs Capitalized Subsequent to Acquisition	8,775
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	9,464
Total	20,795
Accumulated Depreciation	0
1485 Brisbane CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Buildings and Improvements	600
Costs Capitalized Subsequent to Acquisition	7,648
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	8,248
Total	19,579
Accumulated Depreciation	0
1486 Brisbane, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	75,700
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	75,700
Total	87,031
Accumulated Depreciation	0
1487 Brisbane, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,498
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	6,940
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	6,940
Total	15,438
Accumulated Depreciation	0
1401 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	900
Buildings and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	1,746
Gross Amount at Which Carried As of Year End
Land	900
Buildings and Improvements	7,992
Total	8,892
Accumulated Depreciation	(2,077)
1402 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(4,881)
1403 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,900
Buildings and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	4,722
Gross Amount at Which Carried As of Year End
Land	1,900
Buildings and Improvements	11,568
Total	13,468
Accumulated Depreciation	(3,734)
1404 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Buildings and Improvements	17,200
Costs Capitalized Subsequent to Acquisition	1,402
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	18,602
Total	20,802
Accumulated Depreciation	(4,987)
1405 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(7,239)
1549 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,006
Buildings and Improvements	4,259
Costs Capitalized Subsequent to Acquisition	3,463
Gross Amount at Which Carried As of Year End
Land	1,055
Buildings and Improvements	6,409
Total	7,464
Accumulated Depreciation	(3,005)
1550 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	2,836
Total	3,546
Accumulated Depreciation	(1,695)
1551 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	661
Buildings and Improvements	1,995
Costs Capitalized Subsequent to Acquisition	4,632
Gross Amount at Which Carried As of Year End
Land	693
Buildings and Improvements	5,489
Total	6,182
Accumulated Depreciation	(3,885)
1552 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	8,094
Total	9,316
Accumulated Depreciation	(3,874)
1553 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	16,265
Total	17,490
Accumulated Depreciation	(6,377)
1554 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,246
Buildings and Improvements	5,179
Costs Capitalized Subsequent to Acquisition	3,332
Gross Amount at Which Carried As of Year End
Land	1,283
Buildings and Improvements	7,599
Total	8,882
Accumulated Depreciation	(3,070)
1555 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,521
Buildings and Improvements	13,546
Costs Capitalized Subsequent to Acquisition	6,401
Gross Amount at Which Carried As of Year End
Land	1,566
Buildings and Improvements	19,888
Total	21,454
Accumulated Depreciation	(8,316)
1556 Hayward CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,212
Buildings and Improvements	5,120
Costs Capitalized Subsequent to Acquisition	3,661
Gross Amount at Which Carried As of Year End
Land	1,249
Buildings and Improvements	5,828
Total	7,077
Accumulated Depreciation	(2,324)
1424 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,600
Buildings and Improvements	25,283
Costs Capitalized Subsequent to Acquisition	9,309
Gross Amount at Which Carried As of Year End
Land	9,719
Buildings and Improvements	32,286
Total	42,005
Accumulated Depreciation	(10,326)
1425 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,200
Buildings and Improvements	19,883
Costs Capitalized Subsequent to Acquisition	431
Gross Amount at Which Carried As of Year End
Land	6,276
Buildings and Improvements	20,228
Total	26,504
Accumulated Depreciation	(5,764)
1426 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,200
Buildings and Improvements	12,412
Costs Capitalized Subsequent to Acquisition	12,379
Gross Amount at Which Carried As of Year End
Land	7,287
Buildings and Improvements	21,690
Total	28,977
Accumulated Depreciation	(6,393)
1427 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,700
Buildings and Improvements	16,983
Costs Capitalized Subsequent to Acquisition	6,273
Gross Amount at Which Carried As of Year End
Land	8,767
Buildings and Improvements	21,894
Total	30,661
Accumulated Depreciation	(8,488)
1949 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,686
Buildings and Improvements	11,045
Costs Capitalized Subsequent to Acquisition	769
Gross Amount at Which Carried As of Year End
Land	2,686
Buildings and Improvements	11,474
Total	14,160
Accumulated Depreciation	(3,106)
2229 La Jolla CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,753
Buildings and Improvements	32,528
Costs Capitalized Subsequent to Acquisition	7,427
Gross Amount at Which Carried As of Year End
Land	8,777
Buildings and Improvements	39,791
Total	48,568
Accumulated Depreciation	(5,363)
1470 Poway CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	12,542
Total	18,368
Accumulated Depreciation	(3,515)
1471 Poway CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	14,200
Total	20,178
Accumulated Depreciation	(4,053)
1472 Poway CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,654
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,906
Gross Amount at Which Carried As of Year End
Land	8,654
Buildings and Improvements	11,906
Total	20,560
Accumulated Depreciation	(1,692)
1473 Poway, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,024
Buildings and Improvements	2,405
Costs Capitalized Subsequent to Acquisition	26,213
Gross Amount at Which Carried As of Year End
Land	11,024
Buildings and Improvements	28,618
Total	39,642
Accumulated Depreciation	0
1474 Poway, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,051
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	8,345
Gross Amount at Which Carried As of Year End
Land	5,051
Buildings and Improvements	8,345
Total	13,396
Accumulated Depreciation	0
1475 Poway, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,655
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	9,051
Gross Amount at Which Carried As of Year End
Land	5,655
Buildings and Improvements	9,051
Total	14,706
Accumulated Depreciation	0
1478 Poway CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(4,110)
1499 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,400
Buildings and Improvements	5,500
Costs Capitalized Subsequent to Acquisition	2,631
Gross Amount at Which Carried As of Year End
Land	3,407
Buildings and Improvements	7,231
Total	10,638
Accumulated Depreciation	(2,881)
1500 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(1,657)
1501 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(1,892)
1502 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,100
Buildings and Improvements	5,100
Costs Capitalized Subsequent to Acquisition	954
Gross Amount at Which Carried As of Year End
Land	3,107
Buildings and Improvements	5,801
Total	8,908
Accumulated Depreciation	(2,157)
1503 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,800
Buildings and Improvements	17,300
Costs Capitalized Subsequent to Acquisition	3,794
Gross Amount at Which Carried As of Year End
Land	4,818
Buildings and Improvements	21,076
Total	25,894
Accumulated Depreciation	(6,984)
1504 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,400
Buildings and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	10,450
Gross Amount at Which Carried As of Year End
Land	5,418
Buildings and Improvements	25,932
Total	31,350
Accumulated Depreciation	(4,889)
1505 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(1,842)
1506 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,000
Buildings and Improvements	14,300
Costs Capitalized Subsequent to Acquisition	14,556
Gross Amount at Which Carried As of Year End
Land	6,018
Buildings and Improvements	28,230
Total	34,248
Accumulated Depreciation	(6,207)
1507 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,900
Buildings and Improvements	12,800
Costs Capitalized Subsequent to Acquisition	13,559
Gross Amount at Which Carried As of Year End
Land	1,912
Buildings and Improvements	26,347
Total	28,259
Accumulated Depreciation	(8,935)
1508 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	23,408
Total	26,120
Accumulated Depreciation	(7,055)
1509 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,700
Buildings and Improvements	10,900
Costs Capitalized Subsequent to Acquisition	10,476
Gross Amount at Which Carried As of Year End
Land	2,712
Buildings and Improvements	20,841
Total	23,553
Accumulated Depreciation	(8,950)
1510 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Buildings and Improvements	12,000
Costs Capitalized Subsequent to Acquisition	5,515
Gross Amount at Which Carried As of Year End
Land	2,212
Buildings and Improvements	13,621
Total	15,833
Accumulated Depreciation	(3,912)
1511 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,600
Buildings and Improvements	9,300
Costs Capitalized Subsequent to Acquisition	2,031
Gross Amount at Which Carried As of Year End
Land	2,612
Buildings and Improvements	10,764
Total	13,376
Accumulated Depreciation	(2,992)
1512 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,300
Buildings and Improvements	18,000
Costs Capitalized Subsequent to Acquisition	12,425
Gross Amount at Which Carried As of Year End
Land	3,300
Buildings and Improvements	30,425
Total	33,725
Accumulated Depreciation	(9,824)
1513 Redwood City CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,300
Buildings and Improvements	17,900
Costs Capitalized Subsequent to Acquisition	14,794
Gross Amount at Which Carried As of Year End
Land	3,326
Buildings and Improvements	32,668
Total	35,994
Accumulated Depreciation	(11,920)
678 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,603
Buildings and Improvements	11,051
Costs Capitalized Subsequent to Acquisition	3,143
Gross Amount at Which Carried As of Year End
Land	2,603
Buildings and Improvements	14,194
Total	16,797
Accumulated Depreciation	(4,995)
679 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,269
Buildings and Improvements	23,566
Costs Capitalized Subsequent to Acquisition	21,860
Gross Amount at Which Carried As of Year End
Land	5,669
Buildings and Improvements	41,726
Total	47,395
Accumulated Depreciation	(13,463)
837 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	7,850
Total	12,480
Accumulated Depreciation	(4,139)
838 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,040
Buildings and Improvements	903
Costs Capitalized Subsequent to Acquisition	5,111
Gross Amount at Which Carried As of Year End
Land	2,040
Buildings and Improvements	6,014
Total	8,054
Accumulated Depreciation	(2,710)
839 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,940
Buildings and Improvements	3,184
Costs Capitalized Subsequent to Acquisition	5,733
Gross Amount at Which Carried As of Year End
Land	4,047
Buildings and Improvements	5,591
Total	9,638
Accumulated Depreciation	(2,245)
840 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,690
Buildings and Improvements	4,579
Costs Capitalized Subsequent to Acquisition	789
Gross Amount at Which Carried As of Year End
Land	5,830
Buildings and Improvements	4,802
Total	10,632
Accumulated Depreciation	(1,747)
1418 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,700
Buildings and Improvements	31,243
Costs Capitalized Subsequent to Acquisition	6,408
Gross Amount at Which Carried As of Year End
Land	11,700
Buildings and Improvements	37,651
Total	49,351
Accumulated Depreciation	(14,414)
1420 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,524
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,327
Gross Amount at Which Carried As of Year End
Land	6,524
Buildings and Improvements	5,327
Total	11,851
Accumulated Depreciation	0
1421 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,000
Buildings and Improvements	33,779
Costs Capitalized Subsequent to Acquisition	1,209
Gross Amount at Which Carried As of Year End
Land	7,000
Buildings and Improvements	34,988
Total	41,988
Accumulated Depreciation	(10,073)
1422 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,179
Buildings and Improvements	3,687
Costs Capitalized Subsequent to Acquisition	4,681
Gross Amount at Which Carried As of Year End
Land	7,336
Buildings and Improvements	8,211
Total	15,547
Accumulated Depreciation	(2,911)
1423 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,400
Buildings and Improvements	33,144
Costs Capitalized Subsequent to Acquisition	466
Gross Amount at Which Carried As of Year End
Land	8,400
Buildings and Improvements	33,610
Total	42,010
Accumulated Depreciation	(9,467)
1514 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,200
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	5,200
Buildings and Improvements	0
Total	5,200
Accumulated Depreciation	0
1558 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,740
Buildings and Improvements	22,654
Costs Capitalized Subsequent to Acquisition	3,461
Gross Amount at Which Carried As of Year End
Land	7,888
Buildings and Improvements	24,736
Total	32,624
Accumulated Depreciation	(7,051)
1947 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,581
Buildings and Improvements	10,534
Costs Capitalized Subsequent to Acquisition	4,164
Gross Amount at Which Carried As of Year End
Land	2,581
Buildings and Improvements	14,698
Total	17,279
Accumulated Depreciation	(3,905)
1948 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,879
Buildings and Improvements	25,305
Costs Capitalized Subsequent to Acquisition	2,619
Gross Amount at Which Carried As of Year End
Land	5,879
Buildings and Improvements	26,741
Total	32,620
Accumulated Depreciation	(7,767)
2197 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,621
Buildings and Improvements	3,913
Costs Capitalized Subsequent to Acquisition	8,150
Gross Amount at Which Carried As of Year End
Land	7,626
Buildings and Improvements	10,767
Total	18,393
Accumulated Depreciation	(2,868)
2476 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,661
Buildings and Improvements	9,918
Costs Capitalized Subsequent to Acquisition	5,388
Gross Amount at Which Carried As of Year End
Land	7,661
Buildings and Improvements	15,306
Total	22,967
Accumulated Depreciation	(194)
2477 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,207
Buildings and Improvements	14,613
Costs Capitalized Subsequent to Acquisition	6,543
Gross Amount at Which Carried As of Year End
Land	9,207
Buildings and Improvements	21,156
Total	30,363
Accumulated Depreciation	(1,779)
2478 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,000
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	517
Gross Amount at Which Carried As of Year End
Land	6,000
Buildings and Improvements	517
Total	6,517
Accumulated Depreciation	0
2617 San Diego, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,734
Buildings and Improvements	5,195
Costs Capitalized Subsequent to Acquisition	8,494
Gross Amount at Which Carried As of Year End
Land	2,734
Buildings and Improvements	13,689
Total	16,423
Accumulated Depreciation	0
2618 San Diego, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,100
Buildings and Improvements	12,395
Costs Capitalized Subsequent to Acquisition	69
Gross Amount at Which Carried As of Year End
Land	4,100
Buildings and Improvements	12,464
Total	16,564
Accumulated Depreciation	(860)
2622 San Diego, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,899
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,899
Total	5,899
Accumulated Depreciation	0
2872 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,120
Buildings and Improvements	38,351
Costs Capitalized Subsequent to Acquisition	1,265
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	39,616
Total	49,736
Accumulated Depreciation	(121)
2873 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,052
Buildings and Improvements	14,122
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	6,052
Buildings and Improvements	14,122
Total	20,174
Accumulated Depreciation	(52)
1407 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,182
Buildings and Improvements	12,140
Costs Capitalized Subsequent to Acquisition	9,752
Gross Amount at Which Carried As of Year End
Land	7,186
Buildings and Improvements	13,134
Total	20,320
Accumulated Depreciation	(4,173)
1408 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,000
Buildings and Improvements	17,800
Costs Capitalized Subsequent to Acquisition	1,460
Gross Amount at Which Carried As of Year End
Land	9,000
Buildings and Improvements	18,237
Total	27,237
Accumulated Depreciation	(5,160)
1409 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	18,000
Buildings and Improvements	38,043
Costs Capitalized Subsequent to Acquisition	5,248
Gross Amount at Which Carried As of Year End
Land	18,000
Buildings and Improvements	43,291
Total	61,291
Accumulated Depreciation	(12,226)
1410 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,900
Buildings and Improvements	18,100
Costs Capitalized Subsequent to Acquisition	6,506
Gross Amount at Which Carried As of Year End
Land	4,900
Buildings and Improvements	24,606
Total	29,506
Accumulated Depreciation	(5,067)
1411 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,000
Buildings and Improvements	27,700
Costs Capitalized Subsequent to Acquisition	2,812
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	30,512
Total	38,512
Accumulated Depreciation	(7,701)
1412 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,100
Buildings and Improvements	22,521
Costs Capitalized Subsequent to Acquisition	2,222
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	24,504
Total	34,604
Accumulated Depreciation	(6,981)
1413 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,000
Buildings and Improvements	28,299
Costs Capitalized Subsequent to Acquisition	7,826
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	36,125
Total	44,125
Accumulated Depreciation	(8,450)
1414 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,700
Buildings and Improvements	20,800
Costs Capitalized Subsequent to Acquisition	2,248
Gross Amount at Which Carried As of Year End
Land	3,700
Buildings and Improvements	22,845
Total	26,545
Accumulated Depreciation	(6,881)
1430 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,700
Buildings and Improvements	23,621
Costs Capitalized Subsequent to Acquisition	9,224
Gross Amount at Which Carried As of Year End
Land	10,700
Buildings and Improvements	31,485
Total	42,185
Accumulated Depreciation	(6,318)
1431 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,000
Buildings and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	5,096
Gross Amount at Which Carried As of Year End
Land	7,000
Buildings and Improvements	20,596
Total	27,596
Accumulated Depreciation	(4,608)
1435 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	13,800
Buildings and Improvements	42,500
Costs Capitalized Subsequent to Acquisition	37,058
Gross Amount at Which Carried As of Year End
Land	13,800
Buildings and Improvements	79,558
Total	93,358
Accumulated Depreciation	(22,319)
1436 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,500
Buildings and Improvements	45,300
Costs Capitalized Subsequent to Acquisition	36,935
Gross Amount at Which Carried As of Year End
Land	14,500
Buildings and Improvements	82,235
Total	96,735
Accumulated Depreciation	(22,804)
1437 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,400
Buildings and Improvements	24,800
Costs Capitalized Subsequent to Acquisition	50,276
Gross Amount at Which Carried As of Year End
Land	9,400
Buildings and Improvements	73,506
Total	82,906
Accumulated Depreciation	(18,430)
1439 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,900
Buildings and Improvements	68,848
Costs Capitalized Subsequent to Acquisition	95
Gross Amount at Which Carried As of Year End
Land	11,900
Buildings and Improvements	68,943
Total	80,843
Accumulated Depreciation	(19,674)
1440 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,000
Buildings and Improvements	57,954
Costs Capitalized Subsequent to Acquisition	448
Gross Amount at Which Carried As of Year End
Land	10,000
Buildings and Improvements	58,402
Total	68,402
Accumulated Depreciation	(16,543)
1441 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,300
Buildings and Improvements	43,549
Costs Capitalized Subsequent to Acquisition	8
Gross Amount at Which Carried As of Year End
Land	9,300
Buildings and Improvements	43,557
Total	52,857
Accumulated Depreciation	(12,432)
1442 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,000
Buildings and Improvements	47,289
Costs Capitalized Subsequent to Acquisition	91
Gross Amount at Which Carried As of Year End
Land	11,000
Buildings and Improvements	47,380
Total	58,380
Accumulated Depreciation	(13,561)
1443 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	13,200
Buildings and Improvements	60,932
Costs Capitalized Subsequent to Acquisition	2,642
Gross Amount at Which Carried As of Year End
Land	13,200
Buildings and Improvements	63,574
Total	76,774
Accumulated Depreciation	(17,643)
1444 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,500
Buildings and Improvements	33,776
Costs Capitalized Subsequent to Acquisition	360
Gross Amount at Which Carried As of Year End
Land	10,500
Buildings and Improvements	34,136
Total	44,636
Accumulated Depreciation	(9,874)
1445 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,600
Buildings and Improvements	34,083
Costs Capitalized Subsequent to Acquisition	9
Gross Amount at Which Carried As of Year End
Land	10,600
Buildings and Improvements	34,092
Total	44,692
Accumulated Depreciation	(9,730)
1458 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,900
Buildings and Improvements	20,900
Costs Capitalized Subsequent to Acquisition	8,704
Gross Amount at Which Carried As of Year End
Land	10,909
Buildings and Improvements	24,372
Total	35,281
Accumulated Depreciation	(8,268)
1459 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,600
Buildings and Improvements	100
Costs Capitalized Subsequent to Acquisition	276
Gross Amount at Which Carried As of Year End
Land	3,600
Buildings and Improvements	376
Total	3,976
Accumulated Depreciation	(94)
1460 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,300
Buildings and Improvements	100
Costs Capitalized Subsequent to Acquisition	145
Gross Amount at Which Carried As of Year End
Land	2,300
Buildings and Improvements	245
Total	2,545
Accumulated Depreciation	(100)
1461 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,900
Buildings and Improvements	200
Costs Capitalized Subsequent to Acquisition	267
Gross Amount at Which Carried As of Year End
Land	3,900
Buildings and Improvements	467
Total	4,367
Accumulated Depreciation	(200)
1462 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,117
Buildings and Improvements	600
Costs Capitalized Subsequent to Acquisition	4,939
Gross Amount at Which Carried As of Year End
Land	7,117
Buildings and Improvements	5,191
Total	12,308
Accumulated Depreciation	(2,438)
1463 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,381
Buildings and Improvements	2,300
Costs Capitalized Subsequent to Acquisition	20,647
Gross Amount at Which Carried As of Year End
Land	10,381
Buildings and Improvements	20,599
Total	30,980
Accumulated Depreciation	(4,210)
1464 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	7,987
Total	15,390
Accumulated Depreciation	(1,670)
1468 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(8,863)
1480 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	32,210
Buildings and Improvements	3,110
Costs Capitalized Subsequent to Acquisition	11,653
Gross Amount at Which Carried As of Year End
Land	32,210
Buildings and Improvements	14,763
Total	46,973
Accumulated Depreciation	0
1559 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,666
Buildings and Improvements	5,773
Costs Capitalized Subsequent to Acquisition	12,970
Gross Amount at Which Carried As of Year End
Land	5,695
Buildings and Improvements	18,645
Total	24,340
Accumulated Depreciation	(12,153)
1560 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,204
Buildings and Improvements	1,293
Costs Capitalized Subsequent to Acquisition	2,627
Gross Amount at Which Carried As of Year End
Land	1,210
Buildings and Improvements	3,799
Total	5,009
Accumulated Depreciation	(1,421)
1983 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,648
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	95,927
Gross Amount at Which Carried As of Year End
Land	8,648
Buildings and Improvements	95,927
Total	104,575
Accumulated Depreciation	(10,795)
1984 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,845
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	84,580
Gross Amount at Which Carried As of Year End
Land	7,844
Buildings and Improvements	84,581
Total	92,425
Accumulated Depreciation	(6,250)
1985 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,708
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	120,735
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	120,735
Total	127,443
Accumulated Depreciation	(7,119)
1986 South San Francisco, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,708
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	106,278
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	106,278
Total	112,986
Accumulated Depreciation	(4,392)
1987 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,544
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	143,536
Gross Amount at Which Carried As of Year End
Land	8,544
Buildings and Improvements	143,536
Total	152,080
Accumulated Depreciation	0
1988 South San Francisco, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,120
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,437
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	11,437
Total	21,557
Accumulated Depreciation	0
1989 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,169
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	22,380
Gross Amount at Which Carried As of Year End
Land	9,169
Buildings and Improvements	22,380
Total	31,549
Accumulated Depreciation	0
2553 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,897
Buildings and Improvements	8,691
Costs Capitalized Subsequent to Acquisition	2,824
Gross Amount at Which Carried As of Year End
Land	2,897
Buildings and Improvements	11,515
Total	14,412
Accumulated Depreciation	(1,297)
2554 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	995
Buildings and Improvements	2,754
Costs Capitalized Subsequent to Acquisition	1,930
Gross Amount at Which Carried As of Year End
Land	995
Buildings and Improvements	4,684
Total	5,679
Accumulated Depreciation	(276)
2555 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,202
Buildings and Improvements	10,776
Costs Capitalized Subsequent to Acquisition	578
Gross Amount at Which Carried As of Year End
Land	2,202
Buildings and Improvements	11,354
Total	13,556
Accumulated Depreciation	(1,048)
2556 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,962
Buildings and Improvements	15,108
Costs Capitalized Subsequent to Acquisition	210
Gross Amount at Which Carried As of Year End
Land	2,962
Buildings and Improvements	15,318
Total	18,280
Accumulated Depreciation	(1,356)
2557 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,453
Buildings and Improvements	13,063
Costs Capitalized Subsequent to Acquisition	3,616
Gross Amount at Which Carried As of Year End
Land	2,453
Buildings and Improvements	16,679
Total	19,132
Accumulated Depreciation	(1,418)
2558 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,163
Buildings and Improvements	5,925
Costs Capitalized Subsequent to Acquisition	58
Gross Amount at Which Carried As of Year End
Land	1,163
Buildings and Improvements	5,983
Total	7,146
Accumulated Depreciation	(531)
2614 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	5,083
Buildings and Improvements	9,261
Total	14,344
Accumulated Depreciation	(3,110)
2615 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,984
Buildings and Improvements	13,495
Costs Capitalized Subsequent to Acquisition	3,243
Gross Amount at Which Carried As of Year End
Land	7,988
Buildings and Improvements	16,719
Total	24,707
Accumulated Depreciation	(6,514)
2616 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,355
Buildings and Improvements	14,121
Costs Capitalized Subsequent to Acquisition	1,876
Gross Amount at Which Carried As of Year End
Land	8,358
Buildings and Improvements	14,565
Total	22,923
Accumulated Depreciation	(4,722)
2624 South San Francisco, CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	25,502
Buildings and Improvements	42,910
Costs Capitalized Subsequent to Acquisition	5,081
Gross Amount at Which Carried As of Year End
Land	25,502
Buildings and Improvements	47,945
Total	73,447
Accumulated Depreciation	(2,064)
2870 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	23,297
Buildings and Improvements	41,797
Costs Capitalized Subsequent to Acquisition	5,324
Gross Amount at Which Carried As of Year End
Land	23,297
Buildings and Improvements	47,121
Total	70,418
Accumulated Depreciation	0
2871 South San Francisco CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,293
Buildings and Improvements	41,262
Costs Capitalized Subsequent to Acquisition	12,476
Gross Amount at Which Carried As of Year End
Land	20,293
Buildings and Improvements	53,738
Total	74,031
Accumulated Depreciation	(125)
9999 Denton TX | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	100
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	0
Total	100
Accumulated Depreciation	0
2630 Lexington, MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	16,411
Buildings and Improvements	49,681
Costs Capitalized Subsequent to Acquisition	415
Gross Amount at Which Carried As of Year End
Land	16,411
Buildings and Improvements	50,096
Total	66,507
Accumulated Depreciation	(2,502)
2631 Lexington, MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,759
Buildings and Improvements	142,081
Costs Capitalized Subsequent to Acquisition	14,269
Gross Amount at Which Carried As of Year End
Land	7,759
Buildings and Improvements	156,350
Total	164,109
Accumulated Depreciation	(4,724)
2632 Lexington MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	21,390
Costs Capitalized Subsequent to Acquisition	21,055
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	42,445
Total	42,445
Accumulated Depreciation	0
2011 Durham NC | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,399
Initial Cost to Company
Land	448
Buildings and Improvements	6,152
Costs Capitalized Subsequent to Acquisition	21,524
Gross Amount at Which Carried As of Year End
Land	448
Buildings and Improvements	27,639
Total	28,087
Accumulated Depreciation	(6,291)
2030 Durham NC | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,920
Buildings and Improvements	5,661
Costs Capitalized Subsequent to Acquisition	34,187
Gross Amount at Which Carried As of Year End
Land	1,920
Buildings and Improvements	39,848
Total	41,768
Accumulated Depreciation	(8,964)
464 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	630
Buildings and Improvements	6,921
Costs Capitalized Subsequent to Acquisition	2,562
Gross Amount at Which Carried As of Year End
Land	630
Buildings and Improvements	9,483
Total	10,113
Accumulated Depreciation	(3,571)
465 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(2,527)
466 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	14,614
Costs Capitalized Subsequent to Acquisition	7
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,621
Total	14,621
Accumulated Depreciation	(5,200)
507 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	280
Buildings and Improvements	4,345
Costs Capitalized Subsequent to Acquisition	231
Gross Amount at Which Carried As of Year End
Land	280
Buildings and Improvements	4,350
Total	4,630
Accumulated Depreciation	(1,593)
799 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	14,600
Costs Capitalized Subsequent to Acquisition	90
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,690
Total	14,690
Accumulated Depreciation	(4,343)
1593 Salt Lake City UT | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	23,998
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,998
Total	23,998
Accumulated Depreciation	(6,121)
638 Anchorage AK | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,456
Buildings and Improvements	10,650
Costs Capitalized Subsequent to Acquisition	12,360
Gross Amount at Which Carried As of Year End
Land	1,456
Buildings and Improvements	22,957
Total	24,413
Accumulated Depreciation	(7,603)
2572 Springdale AR | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	27,714
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,714
Total	27,714
Accumulated Depreciation	(1,833)
520 Chandler AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,669
Buildings and Improvements	13,503
Costs Capitalized Subsequent to Acquisition	6,460
Gross Amount at Which Carried As of Year End
Land	3,749
Buildings and Improvements	18,696
Total	22,445
Accumulated Depreciation	(5,558)
2040 Mesa AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	17,314
Costs Capitalized Subsequent to Acquisition	1,303
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,431
Total	18,431
Accumulated Depreciation	(2,990)
468 Oro Valley AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,050
Buildings and Improvements	6,774
Costs Capitalized Subsequent to Acquisition	983
Gross Amount at Which Carried As of Year End
Land	1,084
Buildings and Improvements	7,148
Total	8,232
Accumulated Depreciation	(3,093)
356 Phoenix AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	780
Buildings and Improvements	3,199
Costs Capitalized Subsequent to Acquisition	2,795
Gross Amount at Which Carried As of Year End
Land	865
Buildings and Improvements	4,987
Total	5,852
Accumulated Depreciation	(2,228)
470 Phoenix AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	280
Buildings and Improvements	877
Costs Capitalized Subsequent to Acquisition	166
Gross Amount at Which Carried As of Year End
Land	280
Buildings and Improvements	1,008
Total	1,288
Accumulated Depreciation	(386)
1066 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,115
Buildings and Improvements	14,064
Costs Capitalized Subsequent to Acquisition	4,215
Gross Amount at Which Carried As of Year End
Land	4,839
Buildings and Improvements	17,150
Total	21,989
Accumulated Depreciation	(5,695)
2021 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,312
Costs Capitalized Subsequent to Acquisition	2,153
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,238
Total	14,238
Accumulated Depreciation	(4,586)
2022 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,179
Costs Capitalized Subsequent to Acquisition	1,684
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,713
Total	10,713
Accumulated Depreciation	(3,598)
2023 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,398
Costs Capitalized Subsequent to Acquisition	1,597
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,860
Total	7,860
Accumulated Depreciation	(2,380)
2024 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,522
Costs Capitalized Subsequent to Acquisition	905
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,427
Total	10,427
Accumulated Depreciation	(2,930)
2025 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,102
Costs Capitalized Subsequent to Acquisition	1,805
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,756
Total	5,756
Accumulated Depreciation	(1,999)
2026 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	3,655
Costs Capitalized Subsequent to Acquisition	2,112
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,692
Total	5,692
Accumulated Depreciation	(1,389)
2027 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,168
Costs Capitalized Subsequent to Acquisition	2,179
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,230
Total	9,230
Accumulated Depreciation	(2,627)
2028 Scottsdale AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,659
Costs Capitalized Subsequent to Acquisition	3,658
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,317
Total	10,317
Accumulated Depreciation	(2,384)
453 Tucson AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	215
Buildings and Improvements	6,318
Costs Capitalized Subsequent to Acquisition	1,464
Gross Amount at Which Carried As of Year End
Land	326
Buildings and Improvements	7,113
Total	7,439
Accumulated Depreciation	(3,710)
556 Tucson AZ | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	215
Buildings and Improvements	3,940
Costs Capitalized Subsequent to Acquisition	1,613
Gross Amount at Which Carried As of Year End
Land	267
Buildings and Improvements	5,073
Total	5,340
Accumulated Depreciation	(1,783)
1041 Brentwood CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	30,864
Costs Capitalized Subsequent to Acquisition	3,135
Gross Amount at Which Carried As of Year End
Land	309
Buildings and Improvements	32,911
Total	33,220
Accumulated Depreciation	(10,485)
1200 Encino CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,151
Buildings and Improvements	10,438
Costs Capitalized Subsequent to Acquisition	4,890
Gross Amount at Which Carried As of Year End
Land	6,646
Buildings and Improvements	13,427
Total	20,073
Accumulated Depreciation	(5,175)
436 Murietta CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	400
Buildings and Improvements	9,266
Costs Capitalized Subsequent to Acquisition	4,755
Gross Amount at Which Carried As of Year End
Land	638
Buildings and Improvements	12,319
Total	12,957
Accumulated Depreciation	(6,168)
239 Poway CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,700
Buildings and Improvements	10,839
Costs Capitalized Subsequent to Acquisition	4,239
Gross Amount at Which Carried As of Year End
Land	2,887
Buildings and Improvements	12,603
Total	15,490
Accumulated Depreciation	(6,904)
2654 Riverside, CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,758
Buildings and Improvements	9,908
Costs Capitalized Subsequent to Acquisition	214
Gross Amount at Which Carried As of Year End
Land	2,758
Buildings and Improvements	10,122
Total	12,880
Accumulated Depreciation	(443)
318 Sacramento CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,860
Buildings and Improvements	37,566
Costs Capitalized Subsequent to Acquisition	27,503
Gross Amount at Which Carried As of Year End
Land	2,911
Buildings and Improvements	65,005
Total	67,916
Accumulated Depreciation	(14,223)
2404 Sacramento CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,268
Buildings and Improvements	5,109
Costs Capitalized Subsequent to Acquisition	594
Gross Amount at Which Carried As of Year End
Land	1,299
Buildings and Improvements	5,672
Total	6,971
Accumulated Depreciation	(926)
234 San Diego CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	4,981
Total	7,990
Accumulated Depreciation	(3,361)
235 San Diego CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	8,154
Total	11,222
Accumulated Depreciation	(5,437)
236 San Diego CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	16,004
Total	20,715
Accumulated Depreciation	(9,933)
421 San Diego CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,910
Buildings and Improvements	19,984
Costs Capitalized Subsequent to Acquisition	16,349
Gross Amount at Which Carried As of Year End
Land	2,964
Buildings and Improvements	34,960
Total	37,924
Accumulated Depreciation	(10,037)
564 San Jose CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,935
Buildings and Improvements	1,728
Costs Capitalized Subsequent to Acquisition	2,756
Gross Amount at Which Carried As of Year End
Land	1,935
Buildings and Improvements	3,283
Total	5,218
Accumulated Depreciation	(1,476)
565 San Jose CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,460
Buildings and Improvements	7,672
Costs Capitalized Subsequent to Acquisition	958
Gross Amount at Which Carried As of Year End
Land	1,460
Buildings and Improvements	8,149
Total	9,609
Accumulated Depreciation	(3,215)
659 Los Gatos CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,718
Buildings and Improvements	3,124
Costs Capitalized Subsequent to Acquisition	662
Gross Amount at Which Carried As of Year End
Land	1,758
Buildings and Improvements	3,632
Total	5,390
Accumulated Depreciation	(1,487)
439 Valencia CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,300
Buildings and Improvements	6,967
Costs Capitalized Subsequent to Acquisition	4,054
Gross Amount at Which Carried As of Year End
Land	2,404
Buildings and Improvements	8,855
Total	11,259
Accumulated Depreciation	(4,035)
1211 Valencia CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,344
Buildings and Improvements	7,507
Costs Capitalized Subsequent to Acquisition	797
Gross Amount at Which Carried As of Year End
Land	1,383
Buildings and Improvements	7,965
Total	9,348
Accumulated Depreciation	(2,552)
440 West Hills CA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,100
Buildings and Improvements	11,595
Costs Capitalized Subsequent to Acquisition	4,472
Gross Amount at Which Carried As of Year End
Land	2,259
Buildings and Improvements	12,284
Total	14,543
Accumulated Depreciation	(6,231)
728 Aurora CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,764
Costs Capitalized Subsequent to Acquisition	3,082
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,273
Total	9,273
Accumulated Depreciation	(3,701)
1196 Aurora CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	210
Buildings and Improvements	12,362
Costs Capitalized Subsequent to Acquisition	7,310
Gross Amount at Which Carried As of Year End
Land	210
Buildings and Improvements	18,828
Total	19,038
Accumulated Depreciation	(4,677)
1197 Aurora CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	200
Buildings and Improvements	8,414
Costs Capitalized Subsequent to Acquisition	5,729
Gross Amount at Which Carried As of Year End
Land	285
Buildings and Improvements	13,482
Total	13,767
Accumulated Depreciation	(3,935)
882 Colorado Springs CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,933
Costs Capitalized Subsequent to Acquisition	11,273
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,512
Total	19,512
Accumulated Depreciation	(5,300)
1199 Denver CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	9,367
Total	9,989
Accumulated Depreciation	(3,916)
808 Englewood CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,616
Costs Capitalized Subsequent to Acquisition	9,472
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	16,904
Total	16,915
Accumulated Depreciation	(7,304)
809 Englewood CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,449
Costs Capitalized Subsequent to Acquisition	4,510
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,508
Total	11,508
Accumulated Depreciation	(4,680)
810 Englewood CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,040
Costs Capitalized Subsequent to Acquisition	13,144
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,828
Total	18,828
Accumulated Depreciation	(5,465)
811 Englewood CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,472
Costs Capitalized Subsequent to Acquisition	5,951
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,747
Total	12,747
Accumulated Depreciation	(4,403)
2658 Highlands Ranch, CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,637
Buildings and Improvements	10,063
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,637
Buildings and Improvements	10,063
Total	11,700
Accumulated Depreciation	(387)
812 Littleton CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,562
Costs Capitalized Subsequent to Acquisition	2,561
Gross Amount at Which Carried As of Year End
Land	257
Buildings and Improvements	5,816
Total	6,073
Accumulated Depreciation	(2,497)
813 Littleton CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,926
Costs Capitalized Subsequent to Acquisition	2,326
Gross Amount at Which Carried As of Year End
Land	106
Buildings and Improvements	6,456
Total	6,562
Accumulated Depreciation	(2,375)
570 Lone Tree CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	20,148
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,410
Total	19,410
Accumulated Depreciation	(7,306)
666 Lone Tree CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	23,274
Costs Capitalized Subsequent to Acquisition	3,384
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	25,328
Total	25,328
Accumulated Depreciation	(8,783)
2233 Lone Tree CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,734
Costs Capitalized Subsequent to Acquisition	30,176
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	37,573
Total	37,573
Accumulated Depreciation	(4,704)
1076 Parker CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	13,388
Costs Capitalized Subsequent to Acquisition	1,112
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	14,240
Total	14,248
Accumulated Depreciation	(4,728)
510 Thornton CO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	236
Buildings and Improvements	10,206
Costs Capitalized Subsequent to Acquisition	4,332
Gross Amount at Which Carried As of Year End
Land	454
Buildings and Improvements	13,741
Total	14,195
Accumulated Depreciation	(5,710)
434 Atlantis FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	2,027
Costs Capitalized Subsequent to Acquisition	462
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	2,269
Total	2,274
Accumulated Depreciation	(1,152)
435 Atlantis FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	1,190
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,578
Total	2,578
Accumulated Depreciation	(1,210)
602 Atlantis FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	455
Buildings and Improvements	2,231
Costs Capitalized Subsequent to Acquisition	1,006
Gross Amount at Which Carried As of Year End
Land	455
Buildings and Improvements	2,879
Total	3,334
Accumulated Depreciation	(1,079)
604 Englewood FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	170
Buildings and Improvements	1,134
Costs Capitalized Subsequent to Acquisition	495
Gross Amount at Which Carried As of Year End
Land	226
Buildings and Improvements	1,346
Total	1,572
Accumulated Depreciation	(561)
609 Kissimmee FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	788
Buildings and Improvements	174
Costs Capitalized Subsequent to Acquisition	649
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	721
Total	1,509
Accumulated Depreciation	(290)
610 Kissimmee FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	481
Buildings and Improvements	347
Costs Capitalized Subsequent to Acquisition	790
Gross Amount at Which Carried As of Year End
Land	494
Buildings and Improvements	901
Total	1,395
Accumulated Depreciation	(484)
671 Kissimmee FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,574
Costs Capitalized Subsequent to Acquisition	2,637
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,483
Total	8,483
Accumulated Depreciation	(3,016)
603 Lake Worth FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	4,562
Total	6,069
Accumulated Depreciation	(2,211)
612 Margate FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,553
Buildings and Improvements	6,898
Costs Capitalized Subsequent to Acquisition	1,811
Gross Amount at Which Carried As of Year End
Land	1,553
Buildings and Improvements	8,364
Total	9,917
Accumulated Depreciation	(3,025)
613 Miami FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,392
Buildings and Improvements	11,841
Costs Capitalized Subsequent to Acquisition	5,072
Gross Amount at Which Carried As of Year End
Land	4,392
Buildings and Improvements	14,740
Total	19,132
Accumulated Depreciation	(5,581)
2202 Miami FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	13,123
Costs Capitalized Subsequent to Acquisition	4,918
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	17,903
Total	17,903
Accumulated Depreciation	(3,791)
2203 Miami FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,877
Costs Capitalized Subsequent to Acquisition	3,245
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,111
Total	12,111
Accumulated Depreciation	(2,243)
1067 Milton FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,566
Costs Capitalized Subsequent to Acquisition	356
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,903
Total	8,903
Accumulated Depreciation	(2,781)
2577 Naples FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	29,186
Costs Capitalized Subsequent to Acquisition	97
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	29,283
Total	29,283
Accumulated Depreciation	(1,805)
2578 Naples FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	18,819
Costs Capitalized Subsequent to Acquisition	433
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,252
Total	19,252
Accumulated Depreciation	(989)
563 Orlando FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,144
Buildings and Improvements	5,136
Costs Capitalized Subsequent to Acquisition	14,659
Gross Amount at Which Carried As of Year End
Land	11,769
Buildings and Improvements	8,479
Total	20,248
Accumulated Depreciation	(4,606)
833 Pace FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	10,309
Costs Capitalized Subsequent to Acquisition	3,528
Gross Amount at Which Carried As of Year End
Land	26
Buildings and Improvements	11,517
Total	11,543
Accumulated Depreciation	(3,302)
834 Pensacola FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	11,166
Costs Capitalized Subsequent to Acquisition	478
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,644
Total	11,644
Accumulated Depreciation	(3,612)
614 Plantation FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	969
Buildings and Improvements	3,241
Costs Capitalized Subsequent to Acquisition	1,754
Gross Amount at Which Carried As of Year End
Land	1,017
Buildings and Improvements	4,246
Total	5,263
Accumulated Depreciation	(1,638)
673 Plantation FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,091
Buildings and Improvements	7,176
Costs Capitalized Subsequent to Acquisition	2,002
Gross Amount at Which Carried As of Year End
Land	1,091
Buildings and Improvements	8,724
Total	9,815
Accumulated Depreciation	(2,970)
2579 Punta Gorda FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,379
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,379
Total	9,379
Accumulated Depreciation	(559)
2833 St. Petersburg FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	13,754
Costs Capitalized Subsequent to Acquisition	10,904
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,810
Total	22,810
Accumulated Depreciation	(6,704)
2836 Tampa FL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,967
Buildings and Improvements	6,602
Costs Capitalized Subsequent to Acquisition	7,747
Gross Amount at Which Carried As of Year End
Land	2,425
Buildings and Improvements	11,056
Total	13,481
Accumulated Depreciation	(4,844)
1058 Blue Ridge, GA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	3,231
Costs Capitalized Subsequent to Acquisition	260
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	3,473
Total	3,473
Accumulated Depreciation	(1,030)
2576 Statesboro GA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	10,234
Costs Capitalized Subsequent to Acquisition	120
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,354
Total	10,354
Accumulated Depreciation	(823)
1065 Marion IL | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	99
Buildings and Improvements	11,538
Costs Capitalized Subsequent to Acquisition	2,075
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	13,184
Total	13,284
Accumulated Depreciation	(3,883)
1057 Newburgh IN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	14,019
Costs Capitalized Subsequent to Acquisition	5,383
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,394
Total	19,394
Accumulated Depreciation	(5,950)
2039 Kansas City KS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	2,182
Total	2,630
Accumulated Depreciation	(438)
2043 Overland Park KS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,668
Costs Capitalized Subsequent to Acquisition	947
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,615
Total	8,615
Accumulated Depreciation	(1,603)
483 Wichita KS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	530
Buildings and Improvements	3,341
Costs Capitalized Subsequent to Acquisition	713
Gross Amount at Which Carried As of Year End
Land	530
Buildings and Improvements	3,617
Total	4,147
Accumulated Depreciation	(1,323)
1064 Lexington KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,726
Costs Capitalized Subsequent to Acquisition	1,381
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,863
Total	13,863
Accumulated Depreciation	(4,851)
735 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	936
Buildings and Improvements	8,426
Costs Capitalized Subsequent to Acquisition	8,002
Gross Amount at Which Carried As of Year End
Land	1,232
Buildings and Improvements	13,584
Total	14,816
Accumulated Depreciation	(10,052)
737 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	835
Buildings and Improvements	27,627
Costs Capitalized Subsequent to Acquisition	7,344
Gross Amount at Which Carried As of Year End
Land	878
Buildings and Improvements	33,344
Total	34,222
Accumulated Depreciation	(12,665)
738 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	780
Buildings and Improvements	8,582
Costs Capitalized Subsequent to Acquisition	6,189
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	12,514
Total	13,365
Accumulated Depreciation	(8,055)
739 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	826
Buildings and Improvements	13,814
Costs Capitalized Subsequent to Acquisition	1,992
Gross Amount at Which Carried As of Year End
Land	832
Buildings and Improvements	14,277
Total	15,109
Accumulated Depreciation	(5,127)
2834 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,983
Buildings and Improvements	13,171
Costs Capitalized Subsequent to Acquisition	5,188
Gross Amount at Which Carried As of Year End
Land	2,991
Buildings and Improvements	17,068
Total	20,059
Accumulated Depreciation	(7,916)
1944 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	788
Buildings and Improvements	2,414
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	2,414
Total	3,202
Accumulated Depreciation	(773)
1945 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,255
Buildings and Improvements	28,644
Costs Capitalized Subsequent to Acquisition	1,393
Gross Amount at Which Carried As of Year End
Land	3,291
Buildings and Improvements	29,700
Total	32,991
Accumulated Depreciation	(8,126)
1946 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	430
Buildings and Improvements	6,125
Costs Capitalized Subsequent to Acquisition	197
Gross Amount at Which Carried As of Year End
Land	430
Buildings and Improvements	6,322
Total	6,752
Accumulated Depreciation	(1,682)
2237 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,519
Buildings and Improvements	15,386
Costs Capitalized Subsequent to Acquisition	3,741
Gross Amount at Which Carried As of Year End
Land	1,618
Buildings and Improvements	19,022
Total	20,640
Accumulated Depreciation	(3,185)
2238 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,334
Buildings and Improvements	12,172
Costs Capitalized Subsequent to Acquisition	1,786
Gross Amount at Which Carried As of Year End
Land	1,511
Buildings and Improvements	13,701
Total	15,212
Accumulated Depreciation	(2,590)
2239 Louisville KY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,644
Buildings and Improvements	10,832
Costs Capitalized Subsequent to Acquisition	5,748
Gross Amount at Which Carried As of Year End
Land	2,041
Buildings and Improvements	16,183
Total	18,224
Accumulated Depreciation	(2,886)
1324 Haverhill MA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	800
Buildings and Improvements	8,537
Costs Capitalized Subsequent to Acquisition	2,327
Gross Amount at Which Carried As of Year End
Land	869
Buildings and Improvements	9,128
Total	9,997
Accumulated Depreciation	(2,763)
1213 Ellicott City MD | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,115
Buildings and Improvements	3,206
Costs Capitalized Subsequent to Acquisition	3,001
Gross Amount at Which Carried As of Year End
Land	1,222
Buildings and Improvements	5,203
Total	6,425
Accumulated Depreciation	(2,362)
361 Glen Burnie MD | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	670
Buildings and Improvements	5,085
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	670
Buildings and Improvements	5,085
Total	5,755
Accumulated Depreciation	(2,857)
1052 Towson MD | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	14,233
Costs Capitalized Subsequent to Acquisition	3,754
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,684
Total	12,684
Accumulated Depreciation	(3,816)
2650 Biddeford, ME | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,949
Buildings and Improvements	12,244
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,949
Buildings and Improvements	12,244
Total	14,193
Accumulated Depreciation	(458)
240 Minneapolis MN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	117
Buildings and Improvements	13,213
Costs Capitalized Subsequent to Acquisition	4,070
Gross Amount at Which Carried As of Year End
Land	117
Buildings and Improvements	16,704
Total	16,821
Accumulated Depreciation	(9,159)
300 Minneapolis MN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	160
Buildings and Improvements	10,131
Costs Capitalized Subsequent to Acquisition	4,659
Gross Amount at Which Carried As of Year End
Land	160
Buildings and Improvements	13,604
Total	13,764
Accumulated Depreciation	(7,418)
2032 Independence MO | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	48,025
Costs Capitalized Subsequent to Acquisition	2,304
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	50,329
Total	50,329
Accumulated Depreciation	(7,787)
1078 Flowood MS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,413
Costs Capitalized Subsequent to Acquisition	1,233
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,979
Total	8,979
Accumulated Depreciation	(2,619)
1059 Jackson MS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,868
Costs Capitalized Subsequent to Acquisition	167
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,027
Total	9,027
Accumulated Depreciation	(2,759)
1060 Jackson MS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,187
Costs Capitalized Subsequent to Acquisition	2,217
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,161
Total	9,161
Accumulated Depreciation	(3,329)
1068 Omaha NE | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	16,243
Costs Capitalized Subsequent to Acquisition	1,499
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	17,367
Total	17,384
Accumulated Depreciation	(5,560)
2651 Charlotte, NC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,001
Buildings and Improvements	11,217
Costs Capitalized Subsequent to Acquisition	37
Gross Amount at Which Carried As of Year End
Land	2,001
Buildings and Improvements	11,254
Total	13,255
Accumulated Depreciation	(419)
2655 Wilmington, NC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,341
Buildings and Improvements	17,376
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,341
Buildings and Improvements	17,376
Total	18,717
Accumulated Depreciation	(704)
2656 Wilmington, NC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,071
Buildings and Improvements	11,592
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,071
Buildings and Improvements	11,592
Total	13,663
Accumulated Depreciation	(429)
2657 Shallotte, NC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	918
Buildings and Improvements	3,609
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	918
Buildings and Improvements	3,609
Total	4,527
Accumulated Depreciation	(184)
2647 Concord, NH | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,961
Buildings and Improvements	23,516
Costs Capitalized Subsequent to Acquisition	85
Gross Amount at Which Carried As of Year End
Land	1,961
Buildings and Improvements	23,601
Total	25,562
Accumulated Depreciation	(925)
2648 Concord, NH | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	815
Buildings and Improvements	8,902
Costs Capitalized Subsequent to Acquisition	136
Gross Amount at Which Carried As of Year End
Land	815
Buildings and Improvements	9,038
Total	9,853
Accumulated Depreciation	(371)
2649 Epsom, NH | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	919
Buildings and Improvements	5,868
Costs Capitalized Subsequent to Acquisition	18
Gross Amount at Which Carried As of Year End
Land	919
Buildings and Improvements	5,886
Total	6,805
Accumulated Depreciation	(320)
729 Albuquerque NM | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	5,380
Costs Capitalized Subsequent to Acquisition	757
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,746
Total	5,746
Accumulated Depreciation	(1,880)
348 Elko NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	55
Buildings and Improvements	2,637
Costs Capitalized Subsequent to Acquisition	22
Gross Amount at Which Carried As of Year End
Land	55
Buildings and Improvements	2,659
Total	2,714
Accumulated Depreciation	(1,509)
571 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,618
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,200
Total	18,200
Accumulated Depreciation	(6,870)
660 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,121
Buildings and Improvements	4,363
Costs Capitalized Subsequent to Acquisition	6,756
Gross Amount at Which Carried As of Year End
Land	1,328
Buildings and Improvements	8,395
Total	9,723
Accumulated Depreciation	(3,362)
661 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,305
Buildings and Improvements	4,829
Costs Capitalized Subsequent to Acquisition	6,057
Gross Amount at Which Carried As of Year End
Land	2,447
Buildings and Improvements	9,458
Total	11,905
Accumulated Depreciation	(4,481)
662 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,480
Buildings and Improvements	12,305
Costs Capitalized Subsequent to Acquisition	6,385
Gross Amount at Which Carried As of Year End
Land	3,480
Buildings and Improvements	15,850
Total	19,330
Accumulated Depreciation	(5,842)
663 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,717
Buildings and Improvements	3,597
Costs Capitalized Subsequent to Acquisition	11,588
Gross Amount at Which Carried As of Year End
Land	1,724
Buildings and Improvements	13,468
Total	15,192
Accumulated Depreciation	(3,086)
664 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,172
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	633
Gross Amount at Which Carried As of Year End
Land	1,805
Buildings and Improvements	0
Total	1,805
Accumulated Depreciation	(116)
691 Las Vegas NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,244
Buildings and Improvements	18,339
Costs Capitalized Subsequent to Acquisition	7,961
Gross Amount at Which Carried As of Year End
Land	3,338
Buildings and Improvements	24,718
Total	28,056
Accumulated Depreciation	(10,680)
2037 Mesquite NV | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	5,559
Costs Capitalized Subsequent to Acquisition	491
Gross Amount at Which Carried As of Year End
Land	34
Buildings and Improvements	5,905
Total	5,939
Accumulated Depreciation	(974)
1285 Cleveland OH | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	823
Buildings and Improvements	2,726
Costs Capitalized Subsequent to Acquisition	1,259
Gross Amount at Which Carried As of Year End
Land	853
Buildings and Improvements	3,031
Total	3,884
Accumulated Depreciation	(1,225)
400 Harrison OH | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,561
Costs Capitalized Subsequent to Acquisition	300
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	4,861
Total	4,861
Accumulated Depreciation	(2,738)
1054 Durant OK | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	619
Buildings and Improvements	9,256
Costs Capitalized Subsequent to Acquisition	1,925
Gross Amount at Which Carried As of Year End
Land	659
Buildings and Improvements	11,100
Total	11,759
Accumulated Depreciation	(3,440)
817 Owasso OK | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,582
Costs Capitalized Subsequent to Acquisition	1,543
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,614
Total	5,614
Accumulated Depreciation	(1,670)
404 Roseburg OR | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	5,707
Costs Capitalized Subsequent to Acquisition	700
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,407
Total	6,407
Accumulated Depreciation	(3,555)
2570 Limerick PA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	925
Buildings and Improvements	20,072
Costs Capitalized Subsequent to Acquisition	51
Gross Amount at Which Carried As of Year End
Land	925
Buildings and Improvements	20,123
Total	21,048
Accumulated Depreciation	(1,561)
2234 Philadelphia PA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	24,264
Buildings and Improvements	99,904
Costs Capitalized Subsequent to Acquisition	36,386
Gross Amount at Which Carried As of Year End
Land	24,288
Buildings and Improvements	136,146
Total	160,434
Accumulated Depreciation	(12,528)
2403 Philadelphia PA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	26,063
Buildings and Improvements	97,646
Costs Capitalized Subsequent to Acquisition	14,725
Gross Amount at Which Carried As of Year End
Land	26,110
Buildings and Improvements	112,324
Total	138,434
Accumulated Depreciation	(16,206)
2571 Wilkes-Barre PA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,138
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,138
Total	9,138
Accumulated Depreciation	(729)
2573 Florence SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,090
Costs Capitalized Subsequent to Acquisition	91
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,181
Total	12,181
Accumulated Depreciation	(769)
2574 Florence SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,190
Costs Capitalized Subsequent to Acquisition	88
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,278
Total	12,278
Accumulated Depreciation	(774)
2575 Florence SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	11,243
Costs Capitalized Subsequent to Acquisition	56
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,299
Total	11,299
Accumulated Depreciation	(875)
2841 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	627
Buildings and Improvements	38,391
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	627
Buildings and Improvements	38,391
Total	39,018
Accumulated Depreciation	(746)
2842 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	809
Buildings and Improvements	41,260
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	809
Buildings and Improvements	41,260
Total	42,069
Accumulated Depreciation	(824)
2843 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	610
Buildings and Improvements	22,251
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	610
Buildings and Improvements	22,251
Total	22,861
Accumulated Depreciation	(451)
2844 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	799
Buildings and Improvements	18,914
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	799
Buildings and Improvements	18,914
Total	19,713
Accumulated Depreciation	(403)
2845 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	944
Buildings and Improvements	40,841
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	944
Buildings and Improvements	40,841
Total	41,785
Accumulated Depreciation	(744)
2846 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	921
Buildings and Improvements	38,416
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	921
Buildings and Improvements	38,416
Total	39,337
Accumulated Depreciation	(715)
2847 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	621
Buildings and Improvements	26,358
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	621
Buildings and Improvements	26,358
Total	26,979
Accumulated Depreciation	(649)
2848 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	318
Buildings and Improvements	5,816
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	318
Buildings and Improvements	5,816
Total	6,134
Accumulated Depreciation	(116)
2849 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	310
Buildings and Improvements	5,675
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	310
Buildings and Improvements	5,675
Total	5,985
Accumulated Depreciation	(126)
2850 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	201
Buildings and Improvements	6,590
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	201
Buildings and Improvements	6,590
Total	6,791
Accumulated Depreciation	(143)
2853 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	503
Buildings and Improvements	6,522
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	503
Buildings and Improvements	6,522
Total	7,025
Accumulated Depreciation	(225)
2854 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	804
Buildings and Improvements	13,719
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	804
Buildings and Improvements	13,719
Total	14,523
Accumulated Depreciation	(352)
2855 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	377
Buildings and Improvements	496
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	377
Buildings and Improvements	496
Total	873
Accumulated Depreciation	(53)
2856 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	246
Buildings and Improvements	416
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	246
Buildings and Improvements	416
Total	662
Accumulated Depreciation	(50)
2857 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	186
Buildings and Improvements	210
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	186
Buildings and Improvements	210
Total	396
Accumulated Depreciation	(27)
2851 Travelers Rest SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	498
Buildings and Improvements	1,015
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	498
Buildings and Improvements	1,015
Total	1,513
Accumulated Depreciation	(66)
2862 Myrtle Beach SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,852
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,882
Total	2,882
Accumulated Depreciation	0
624 Hendersonville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	256
Buildings and Improvements	1,530
Costs Capitalized Subsequent to Acquisition	2,541
Gross Amount at Which Carried As of Year End
Land	256
Buildings and Improvements	3,372
Total	3,628
Accumulated Depreciation	(1,169)
559 Hermitage TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	830
Buildings and Improvements	5,036
Costs Capitalized Subsequent to Acquisition	12,083
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	15,024
Total	15,875
Accumulated Depreciation	(3,735)
561 Hermitage TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	596
Buildings and Improvements	9,698
Costs Capitalized Subsequent to Acquisition	6,642
Gross Amount at Which Carried As of Year End
Land	596
Buildings and Improvements	14,544
Total	15,140
Accumulated Depreciation	(6,241)
562 Hermitage TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	317
Buildings and Improvements	6,528
Costs Capitalized Subsequent to Acquisition	3,199
Gross Amount at Which Carried As of Year End
Land	317
Buildings and Improvements	8,860
Total	9,177
Accumulated Depreciation	(4,403)
154 Knoxville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	700
Buildings and Improvements	4,559
Costs Capitalized Subsequent to Acquisition	5,016
Gross Amount at Which Carried As of Year End
Land	700
Buildings and Improvements	9,119
Total	9,819
Accumulated Depreciation	(4,890)
625 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	955
Buildings and Improvements	14,289
Costs Capitalized Subsequent to Acquisition	4,470
Gross Amount at Which Carried As of Year End
Land	955
Buildings and Improvements	16,768
Total	17,723
Accumulated Depreciation	(5,977)
626 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,050
Buildings and Improvements	5,211
Costs Capitalized Subsequent to Acquisition	4,631
Gross Amount at Which Carried As of Year End
Land	2,055
Buildings and Improvements	8,738
Total	10,793
Accumulated Depreciation	(3,646)
627 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,007
Buildings and Improvements	181
Costs Capitalized Subsequent to Acquisition	752
Gross Amount at Which Carried As of Year End
Land	1,060
Buildings and Improvements	813
Total	1,873
Accumulated Depreciation	(495)
628 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,980
Buildings and Improvements	7,164
Costs Capitalized Subsequent to Acquisition	3,993
Gross Amount at Which Carried As of Year End
Land	2,980
Buildings and Improvements	11,202
Total	14,182
Accumulated Depreciation	(5,152)
630 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	515
Buildings and Improvements	848
Costs Capitalized Subsequent to Acquisition	437
Gross Amount at Which Carried As of Year End
Land	528
Buildings and Improvements	1,085
Total	1,613
Accumulated Depreciation	(383)
631 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	266
Buildings and Improvements	1,305
Costs Capitalized Subsequent to Acquisition	1,644
Gross Amount at Which Carried As of Year End
Land	266
Buildings and Improvements	2,461
Total	2,727
Accumulated Depreciation	(1,033)
632 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	827
Buildings and Improvements	7,642
Costs Capitalized Subsequent to Acquisition	4,532
Gross Amount at Which Carried As of Year End
Land	827
Buildings and Improvements	10,111
Total	10,938
Accumulated Depreciation	(3,855)
633 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,425
Buildings and Improvements	12,577
Costs Capitalized Subsequent to Acquisition	6,397
Gross Amount at Which Carried As of Year End
Land	5,425
Buildings and Improvements	18,049
Total	23,474
Accumulated Depreciation	(8,895)
634 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,818
Buildings and Improvements	15,185
Costs Capitalized Subsequent to Acquisition	11,118
Gross Amount at Which Carried As of Year End
Land	3,818
Buildings and Improvements	24,285
Total	28,103
Accumulated Depreciation	(10,002)
636 Nashville TN | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	583
Buildings and Improvements	450
Costs Capitalized Subsequent to Acquisition	360
Gross Amount at Which Carried As of Year End
Land	583
Buildings and Improvements	717
Total	1,300
Accumulated Depreciation	(233)
2611 Allen TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,330
Buildings and Improvements	5,960
Costs Capitalized Subsequent to Acquisition	426
Gross Amount at Which Carried As of Year End
Land	1,330
Buildings and Improvements	6,386
Total	7,716
Accumulated Depreciation	(439)
2612 Allen TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,310
Buildings and Improvements	4,165
Costs Capitalized Subsequent to Acquisition	596
Gross Amount at Which Carried As of Year End
Land	1,310
Buildings and Improvements	4,761
Total	6,071
Accumulated Depreciation	(378)
573 Arlington TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	769
Buildings and Improvements	12,355
Costs Capitalized Subsequent to Acquisition	4,678
Gross Amount at Which Carried As of Year End
Land	769
Buildings and Improvements	15,695
Total	16,464
Accumulated Depreciation	(6,049)
2621 Cedar Park, TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,617
Buildings and Improvements	11,640
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,617
Buildings and Improvements	11,640
Total	13,257
Accumulated Depreciation	(427)
576 Conroe TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	324
Buildings and Improvements	4,842
Costs Capitalized Subsequent to Acquisition	3,068
Gross Amount at Which Carried As of Year End
Land	324
Buildings and Improvements	6,491
Total	6,815
Accumulated Depreciation	(2,253)
577 Conroe TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	397
Buildings and Improvements	7,966
Costs Capitalized Subsequent to Acquisition	2,469
Gross Amount at Which Carried As of Year End
Land	397
Buildings and Improvements	9,764
Total	10,161
Accumulated Depreciation	(3,966)
578 Conroe TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	388
Buildings and Improvements	7,975
Costs Capitalized Subsequent to Acquisition	4,540
Gross Amount at Which Carried As of Year End
Land	388
Buildings and Improvements	10,986
Total	11,374
Accumulated Depreciation	(3,941)
579 Conroe TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	188
Buildings and Improvements	3,618
Costs Capitalized Subsequent to Acquisition	1,343
Gross Amount at Which Carried As of Year End
Land	188
Buildings and Improvements	4,805
Total	4,993
Accumulated Depreciation	(1,943)
581 Corpus Christi TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	717
Buildings and Improvements	8,181
Costs Capitalized Subsequent to Acquisition	5,953
Gross Amount at Which Carried As of Year End
Land	717
Buildings and Improvements	11,728
Total	12,445
Accumulated Depreciation	(4,542)
600 Corpus Christi TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	328
Buildings and Improvements	3,210
Costs Capitalized Subsequent to Acquisition	4,468
Gross Amount at Which Carried As of Year End
Land	328
Buildings and Improvements	5,801
Total	6,129
Accumulated Depreciation	(2,168)
601 Corpus Christi TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	313
Buildings and Improvements	1,771
Costs Capitalized Subsequent to Acquisition	2,047
Gross Amount at Which Carried As of Year End
Land	325
Buildings and Improvements	3,098
Total	3,423
Accumulated Depreciation	(1,197)
2839 Cypress TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	34,265
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	34,254
Total	34,265
Accumulated Depreciation	(3,795)
582 Dallas TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,664
Buildings and Improvements	6,785
Costs Capitalized Subsequent to Acquisition	4,588
Gross Amount at Which Carried As of Year End
Land	1,746
Buildings and Improvements	9,642
Total	11,388
Accumulated Depreciation	(3,775)
1314 Dallas TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	15,230
Buildings and Improvements	162,971
Costs Capitalized Subsequent to Acquisition	42,680
Gross Amount at Which Carried As of Year End
Land	23,992
Buildings and Improvements	193,414
Total	217,406
Accumulated Depreciation	(60,706)
583 Fort Worth TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	898
Buildings and Improvements	4,866
Costs Capitalized Subsequent to Acquisition	3,626
Gross Amount at Which Carried As of Year End
Land	898
Buildings and Improvements	7,643
Total	8,541
Accumulated Depreciation	(2,557)
805 Fort Worth TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	2,481
Costs Capitalized Subsequent to Acquisition	1,315
Gross Amount at Which Carried As of Year End
Land	2
Buildings and Improvements	3,329
Total	3,331
Accumulated Depreciation	(1,755)
806 Fort Worth TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,070
Costs Capitalized Subsequent to Acquisition	1,155
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	6,928
Total	6,933
Accumulated Depreciation	(2,221)
2231 Fort Worth TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	902
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	44
Gross Amount at Which Carried As of Year End
Land	946
Buildings and Improvements	0
Total	946
Accumulated Depreciation	(17)
2619 Fort Worth, TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,180
Buildings and Improvements	13,432
Costs Capitalized Subsequent to Acquisition	6
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	13,438
Total	14,618
Accumulated Depreciation	(458)
2620 Fort Worth, TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,961
Buildings and Improvements	14,155
Costs Capitalized Subsequent to Acquisition	138
Gross Amount at Which Carried As of Year End
Land	1,961
Buildings and Improvements	14,293
Total	16,254
Accumulated Depreciation	(503)
1061 Granbury TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	6,863
Costs Capitalized Subsequent to Acquisition	1,125
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,848
Total	7,848
Accumulated Depreciation	(2,309)
430 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,927
Buildings and Improvements	33,140
Costs Capitalized Subsequent to Acquisition	17,718
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	48,704
Total	50,904
Accumulated Depreciation	(21,111)
446 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Buildings and Improvements	19,585
Costs Capitalized Subsequent to Acquisition	21,378
Gross Amount at Which Carried As of Year End
Land	2,936
Buildings and Improvements	33,668
Total	36,604
Accumulated Depreciation	(19,818)
589 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,676
Buildings and Improvements	12,602
Costs Capitalized Subsequent to Acquisition	6,758
Gross Amount at Which Carried As of Year End
Land	1,706
Buildings and Improvements	16,361
Total	18,067
Accumulated Depreciation	(6,139)
670 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	257
Buildings and Improvements	2,884
Costs Capitalized Subsequent to Acquisition	1,606
Gross Amount at Which Carried As of Year End
Land	318
Buildings and Improvements	3,689
Total	4,007
Accumulated Depreciation	(1,406)
702 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,414
Costs Capitalized Subsequent to Acquisition	2,906
Gross Amount at Which Carried As of Year End
Land	7
Buildings and Improvements	9,239
Total	9,246
Accumulated Depreciation	(3,219)
1044 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,838
Costs Capitalized Subsequent to Acquisition	3,498
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,634
Total	6,634
Accumulated Depreciation	(2,112)
2542 Houston TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	304
Buildings and Improvements	17,764
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	304
Buildings and Improvements	17,764
Total	18,068
Accumulated Depreciation	(1,909)
2543 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	116
Buildings and Improvements	6,555
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	116
Buildings and Improvements	6,555
Total	6,671
Accumulated Depreciation	(832)
2544 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	312
Buildings and Improvements	12,094
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	312
Buildings and Improvements	12,094
Total	12,406
Accumulated Depreciation	(1,548)
2545 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	316
Buildings and Improvements	13,931
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	316
Buildings and Improvements	13,931
Total	14,247
Accumulated Depreciation	(1,357)
2546 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	408
Buildings and Improvements	18,332
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	408
Buildings and Improvements	18,332
Total	18,740
Accumulated Depreciation	(2,804)
2547 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	470
Buildings and Improvements	18,197
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	470
Buildings and Improvements	18,197
Total	18,667
Accumulated Depreciation	(2,358)
2548 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	313
Buildings and Improvements	7,036
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	313
Buildings and Improvements	7,036
Total	7,349
Accumulated Depreciation	(1,167)
2549 Houston Tx | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	530
Buildings and Improvements	22,711
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	530
Buildings and Improvements	22,711
Total	23,241
Accumulated Depreciation	(1,952)
590 Irving TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	828
Buildings and Improvements	6,160
Costs Capitalized Subsequent to Acquisition	3,153
Gross Amount at Which Carried As of Year End
Land	828
Buildings and Improvements	8,743
Total	9,571
Accumulated Depreciation	(3,658)
700 Irving TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,550
Costs Capitalized Subsequent to Acquisition	3,980
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	11,513
Total	11,521
Accumulated Depreciation	(5,226)
1202 Irving TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,604
Buildings and Improvements	16,107
Costs Capitalized Subsequent to Acquisition	1,203
Gross Amount at Which Carried As of Year End
Land	1,633
Buildings and Improvements	16,971
Total	18,604
Accumulated Depreciation	(6,550)
1207 Irving TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,955
Buildings and Improvements	12,793
Costs Capitalized Subsequent to Acquisition	2,219
Gross Amount at Which Carried As of Year End
Land	1,986
Buildings and Improvements	14,902
Total	16,888
Accumulated Depreciation	(5,058)
2840 Kingwood TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,035
Buildings and Improvements	28,373
Costs Capitalized Subsequent to Acquisition	958
Gross Amount at Which Carried As of Year End
Land	3,035
Buildings and Improvements	29,331
Total	32,366
Accumulated Depreciation	(2,223)
1062 Lancaster TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	172
Buildings and Improvements	2,692
Costs Capitalized Subsequent to Acquisition	1,134
Gross Amount at Which Carried As of Year End
Land	185
Buildings and Improvements	3,520
Total	3,705
Accumulated Depreciation	(1,500)
2195 Lancaster TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	1,138
Costs Capitalized Subsequent to Acquisition	700
Gross Amount at Which Carried As of Year End
Land	131
Buildings and Improvements	1,707
Total	1,838
Accumulated Depreciation	(492)
591 Lewisville TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	561
Buildings and Improvements	8,043
Costs Capitalized Subsequent to Acquisition	2,347
Gross Amount at Which Carried As of Year End
Land	561
Buildings and Improvements	9,796
Total	10,357
Accumulated Depreciation	(3,681)
144 Longview TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	102
Buildings and Improvements	7,998
Costs Capitalized Subsequent to Acquisition	824
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	8,379
Total	8,481
Accumulated Depreciation	(4,469)
143 Lufkin TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	338
Buildings and Improvements	2,383
Costs Capitalized Subsequent to Acquisition	321
Gross Amount at Which Carried As of Year End
Land	338
Buildings and Improvements	2,664
Total	3,002
Accumulated Depreciation	(1,313)
568 McKinney TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	541
Buildings and Improvements	6,217
Costs Capitalized Subsequent to Acquisition	3,396
Gross Amount at Which Carried As of Year End
Land	541
Buildings and Improvements	8,659
Total	9,200
Accumulated Depreciation	(3,061)
569 McKinney TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	636
Costs Capitalized Subsequent to Acquisition	8,655
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,406
Total	8,406
Accumulated Depreciation	(2,960)
1079 Nassau Bay TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	8,942
Costs Capitalized Subsequent to Acquisition	1,748
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,271
Total	10,271
Accumulated Depreciation	(3,488)
596 N Richland Hills TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	812
Buildings and Improvements	8,883
Costs Capitalized Subsequent to Acquisition	3,395
Gross Amount at Which Carried As of Year End
Land	812
Buildings and Improvements	11,648
Total	12,460
Accumulated Depreciation	(4,394)
2048 North Richland Hills TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,385
Buildings and Improvements	10,213
Costs Capitalized Subsequent to Acquisition	2,135
Gross Amount at Which Carried As of Year End
Land	1,400
Buildings and Improvements	12,048
Total	13,448
Accumulated Depreciation	(3,080)
2835 Pearland TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,014
Costs Capitalized Subsequent to Acquisition	4,693
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,276
Total	7,276
Accumulated Depreciation	(2,217)
2838 Pearland TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	17,622
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	17,622
Total	17,622
Accumulated Depreciation	(1,521)
447 Plano TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,700
Buildings and Improvements	7,810
Costs Capitalized Subsequent to Acquisition	6,454
Gross Amount at Which Carried As of Year End
Land	1,792
Buildings and Improvements	13,388
Total	15,180
Accumulated Depreciation	(7,113)
597 Plano TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,210
Buildings and Improvements	9,588
Costs Capitalized Subsequent to Acquisition	4,924
Gross Amount at Which Carried As of Year End
Land	1,224
Buildings and Improvements	13,357
Total	14,581
Accumulated Depreciation	(5,188)
672 Plano TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,389
Buildings and Improvements	12,768
Costs Capitalized Subsequent to Acquisition	3,332
Gross Amount at Which Carried As of Year End
Land	1,389
Buildings and Improvements	14,616
Total	16,005
Accumulated Depreciation	(5,119)
1284 Plano TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,049
Buildings and Improvements	18,793
Costs Capitalized Subsequent to Acquisition	2,445
Gross Amount at Which Carried As of Year End
Land	2,101
Buildings and Improvements	18,657
Total	20,758
Accumulated Depreciation	(8,188)
1286 Plano TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,300
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,300
Buildings and Improvements	0
Total	3,300
Accumulated Depreciation	0
2653 Rockwall, TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	788
Buildings and Improvements	9,020
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	9,020
Total	9,808
Accumulated Depreciation	(315)
815 San Antonio TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,193
Costs Capitalized Subsequent to Acquisition	2,917
Gross Amount at Which Carried As of Year End
Land	87
Buildings and Improvements	11,083
Total	11,170
Accumulated Depreciation	(3,984)
816 San Antonio TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	3,115
Initial Cost to Company
Land	0
Buildings and Improvements	8,699
Costs Capitalized Subsequent to Acquisition	3,218
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	10,930
Total	11,105
Accumulated Depreciation	(4,170)
1591 San Antonio TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,309
Costs Capitalized Subsequent to Acquisition	730
Gross Amount at Which Carried As of Year End
Land	43
Buildings and Improvements	7,957
Total	8,000
Accumulated Depreciation	(2,434)
2837 San Antonio TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	26,191
Costs Capitalized Subsequent to Acquisition	1,847
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,775
Total	27,775
Accumulated Depreciation	(7,742)
2852 Shenandoah TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	28,557
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	28,557
Total	28,557
Accumulated Depreciation	(1,396)
598 Sugarland TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,078
Buildings and Improvements	5,158
Costs Capitalized Subsequent to Acquisition	3,397
Gross Amount at Which Carried As of Year End
Land	1,170
Buildings and Improvements	7,350
Total	8,520
Accumulated Depreciation	(2,808)
599 Texas City TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	9,519
Costs Capitalized Subsequent to Acquisition	582
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,944
Total	9,944
Accumulated Depreciation	(3,138)
152 Victoria TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	125
Buildings and Improvements	8,977
Costs Capitalized Subsequent to Acquisition	394
Gross Amount at Which Carried As of Year End
Land	125
Buildings and Improvements	9,371
Total	9,496
Accumulated Depreciation	(5,112)
2550 The Woodlands TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	115
Buildings and Improvements	5,141
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	115
Buildings and Improvements	5,141
Total	5,256
Accumulated Depreciation	(565)
2551 The Woodlands TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	296
Buildings and Improvements	18,282
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	296
Buildings and Improvements	18,282
Total	18,578
Accumulated Depreciation	(1,729)
2552 The Woodlands TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	374
Buildings and Improvements	25,125
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	374
Buildings and Improvements	25,125
Total	25,499
Accumulated Depreciation	(2,118)
1592 Bountiful UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	999
Buildings and Improvements	7,426
Costs Capitalized Subsequent to Acquisition	913
Gross Amount at Which Carried As of Year End
Land	1,019
Buildings and Improvements	8,265
Total	9,284
Accumulated Depreciation	(2,304)
169 Bountiful UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	276
Buildings and Improvements	5,237
Costs Capitalized Subsequent to Acquisition	1,665
Gross Amount at Which Carried As of Year End
Land	396
Buildings and Improvements	6,327
Total	6,723
Accumulated Depreciation	(3,208)
346 Castle Dale UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	50
Buildings and Improvements	1,818
Costs Capitalized Subsequent to Acquisition	163
Gross Amount at Which Carried As of Year End
Land	50
Buildings and Improvements	1,918
Total	1,968
Accumulated Depreciation	(1,036)
347 Centerville UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	300
Buildings and Improvements	1,288
Costs Capitalized Subsequent to Acquisition	234
Gross Amount at Which Carried As of Year End
Land	300
Buildings and Improvements	1,352
Total	1,652
Accumulated Depreciation	(753)
2035 Draper UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,928
Initial Cost to Company
Land	0
Buildings and Improvements	10,803
Costs Capitalized Subsequent to Acquisition	516
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,212
Total	11,212
Accumulated Depreciation	(1,764)
469 Kaysville UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	530
Buildings and Improvements	4,493
Costs Capitalized Subsequent to Acquisition	226
Gross Amount at Which Carried As of Year End
Land	530
Buildings and Improvements	4,719
Total	5,249
Accumulated Depreciation	(1,920)
456 Layton UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	371
Buildings and Improvements	7,073
Costs Capitalized Subsequent to Acquisition	1,303
Gross Amount at Which Carried As of Year End
Land	389
Buildings and Improvements	8,009
Total	8,398
Accumulated Depreciation	(3,978)
2042 Layton UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	10,975
Costs Capitalized Subsequent to Acquisition	537
Gross Amount at Which Carried As of Year End
Land	27
Buildings and Improvements	11,485
Total	11,512
Accumulated Depreciation	(1,837)
359 Ogden UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	180
Buildings and Improvements	1,695
Costs Capitalized Subsequent to Acquisition	240
Gross Amount at Which Carried As of Year End
Land	180
Buildings and Improvements	1,730
Total	1,910
Accumulated Depreciation	(977)
357 Orem UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	337
Buildings and Improvements	8,744
Costs Capitalized Subsequent to Acquisition	2,834
Gross Amount at Which Carried As of Year End
Land	306
Buildings and Improvements	9,026
Total	9,332
Accumulated Depreciation	(4,675)
353 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	190
Buildings and Improvements	779
Costs Capitalized Subsequent to Acquisition	196
Gross Amount at Which Carried As of Year End
Land	234
Buildings and Improvements	869
Total	1,103
Accumulated Depreciation	(499)
354 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	220
Buildings and Improvements	10,732
Costs Capitalized Subsequent to Acquisition	2,955
Gross Amount at Which Carried As of Year End
Land	220
Buildings and Improvements	12,819
Total	13,039
Accumulated Depreciation	(6,815)
355 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	180
Buildings and Improvements	14,792
Costs Capitalized Subsequent to Acquisition	2,826
Gross Amount at Which Carried As of Year End
Land	180
Buildings and Improvements	16,844
Total	17,024
Accumulated Depreciation	(9,358)
467 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,000
Buildings and Improvements	7,541
Costs Capitalized Subsequent to Acquisition	2,592
Gross Amount at Which Carried As of Year End
Land	3,145
Buildings and Improvements	9,629
Total	12,774
Accumulated Depreciation	(4,188)
566 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	509
Buildings and Improvements	4,044
Costs Capitalized Subsequent to Acquisition	2,733
Gross Amount at Which Carried As of Year End
Land	509
Buildings and Improvements	6,248
Total	6,757
Accumulated Depreciation	(2,651)
2041 Salt Lake City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,326
Costs Capitalized Subsequent to Acquisition	635
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,940
Total	12,940
Accumulated Depreciation	(2,024)
2033 Sandy UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	867
Buildings and Improvements	3,513
Costs Capitalized Subsequent to Acquisition	1,694
Gross Amount at Which Carried As of Year End
Land	1,153
Buildings and Improvements	4,794
Total	5,947
Accumulated Depreciation	(1,395)
482 Stansbury UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	450
Buildings and Improvements	3,201
Costs Capitalized Subsequent to Acquisition	1,204
Gross Amount at Which Carried As of Year End
Land	529
Buildings and Improvements	3,966
Total	4,495
Accumulated Depreciation	(1,392)
351 Washington Terrace UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,573
Costs Capitalized Subsequent to Acquisition	2,511
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	6,176
Total	6,193
Accumulated Depreciation	(3,722)
352 Washington Terrace UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	2,692
Costs Capitalized Subsequent to Acquisition	1,364
Gross Amount at Which Carried As of Year End
Land	15
Buildings and Improvements	3,348
Total	3,363
Accumulated Depreciation	(1,819)
2034 West Jordan UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	12,021
Costs Capitalized Subsequent to Acquisition	323
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,344
Total	12,344
Accumulated Depreciation	(1,960)
2036 West Jordan UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	330
Initial Cost to Company
Land	0
Buildings and Improvements	1,383
Costs Capitalized Subsequent to Acquisition	1,544
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,798
Total	2,798
Accumulated Depreciation	(709)
495 West Valley City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
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	(4,897)
349 West Valley City UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,070
Buildings and Improvements	17,463
Costs Capitalized Subsequent to Acquisition	142
Gross Amount at Which Carried As of Year End
Land	1,036
Buildings and Improvements	17,595
Total	18,631
Accumulated Depreciation	(10,002)
1208 Fairfax VA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,396
Buildings and Improvements	16,710
Costs Capitalized Subsequent to Acquisition	13,723
Gross Amount at Which Carried As of Year End
Land	8,828
Buildings and Improvements	28,900
Total	37,728
Accumulated Depreciation	(9,984)
2230 Fredericksburg VA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,101
Buildings and Improvements	8,570
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,101
Buildings and Improvements	8,570
Total	9,671
Accumulated Depreciation	(1,081)
572 Reston VA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	11,902
Costs Capitalized Subsequent to Acquisition	967
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,027
Total	12,027
Accumulated Depreciation	(4,890)
448 Renton WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	18,724
Costs Capitalized Subsequent to Acquisition	4,560
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,145
Total	22,145
Accumulated Depreciation	(11,288)
781 Seattle WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	52,703
Costs Capitalized Subsequent to Acquisition	16,748
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	65,633
Total	65,633
Accumulated Depreciation	(26,312)
782 Seattle WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	24,382
Costs Capitalized Subsequent to Acquisition	13,599
Gross Amount at Which Carried As of Year End
Land	126
Buildings and Improvements	35,209
Total	35,335
Accumulated Depreciation	(15,444)
783 Seattle WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	5,625
Costs Capitalized Subsequent to Acquisition	1,635
Gross Amount at Which Carried As of Year End
Land	183
Buildings and Improvements	6,929
Total	7,112
Accumulated Depreciation	(6,432)
785 Seattle WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	7,293
Costs Capitalized Subsequent to Acquisition	6,215
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,112
Total	12,112
Accumulated Depreciation	(5,983)
1385 Seattle WA | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	45,027
Costs Capitalized Subsequent to Acquisition	8,973
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	53,757
Total	53,757
Accumulated Depreciation	(17,481)
2038 Evanston WY | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Buildings and Improvements	4,601
Costs Capitalized Subsequent to Acquisition	1,009
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,542
Total	5,542
Accumulated Depreciation	(799)
126 Sherwood AR | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	709
Buildings and Improvements	9,604
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	709
Buildings and Improvements	9,599
Total	10,308
Accumulated Depreciation	(5,914)
113 Glendale AZ | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,565
Buildings and Improvements	7,050
Costs Capitalized Subsequent to Acquisition	20
Gross Amount at Which Carried As of Year End
Land	1,565
Buildings and Improvements	7,067
Total	8,632
Accumulated Depreciation	(4,290)
1038 Fresno CA | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,652
Buildings and Improvements	29,113
Costs Capitalized Subsequent to Acquisition	21,935
Gross Amount at Which Carried As of Year End
Land	3,652
Buildings and Improvements	51,048
Total	54,700
Accumulated Depreciation	(17,545)
423 Irvine CA | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	18,000
Buildings and Improvements	70,800
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	18,000
Buildings and Improvements	70,800
Total	88,800
Accumulated Depreciation	(38,777)
127 Colorado Springs CO | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	690
Buildings and Improvements	8,338
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	690
Buildings and Improvements	8,346
Total	9,036
Accumulated Depreciation	(5,072)
887 Atlanta GA | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,300
Buildings and Improvements	13,690
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	4,300
Buildings and Improvements	11,890
Total	16,190
Accumulated Depreciation	(7,035)
112 Overland Park KS | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,316
Buildings and Improvements	10,681
Costs Capitalized Subsequent to Acquisition	24
Gross Amount at Which Carried As of Year End
Land	2,316
Buildings and Improvements	10,693
Total	13,009
Accumulated Depreciation	(6,837)
1383 Baton Rouge LA | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	690
Buildings and Improvements	8,545
Costs Capitalized Subsequent to Acquisition	87
Gross Amount at Which Carried As of Year End
Land	690
Buildings and Improvements	8,496
Total	9,186
Accumulated Depreciation	(4,656)
886 Dallas TX | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,820
Buildings and Improvements	8,508
Costs Capitalized Subsequent to Acquisition	26
Gross Amount at Which Carried As of Year End
Land	1,820
Buildings and Improvements	7,454
Total	9,274
Accumulated Depreciation	(2,205)
1319 Dallas TX | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	18,840
Buildings and Improvements	155,659
Costs Capitalized Subsequent to Acquisition	2,950
Gross Amount at Which Carried As of Year End
Land	18,840
Buildings and Improvements	158,606
Total	177,446
Accumulated Depreciation	(53,011)
1384 Plano TX | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,290
Buildings and Improvements	22,686
Costs Capitalized Subsequent to Acquisition	5,707
Gross Amount at Which Carried As of Year End
Land	6,290
Buildings and Improvements	28,203
Total	34,493
Accumulated Depreciation	(15,193)
2198 Webster TX | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,220
Buildings and Improvements	9,602
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	2,220
Buildings and Improvements	9,282
Total	11,502
Accumulated Depreciation	(1,949)
2469 Rural Retreat VA | Other | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,876
Buildings and Improvements	14,720
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,876
Buildings and Improvements	14,904
Total	16,780
Accumulated Depreciation	$ (1,719)

Schedule III_ Real Estate and_3

Schedule III: Real Estate and Accumulated Depreciation - Amount that Tax Basis of Net Real Estate Assets Less Than the Reported Amounts (Details) $ in Billions	12 Months Ended
	Dec. 31, 2018USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Life on Which Depreciation in Latest Income Statement is Computed	60 years
Amount that the tax basis of the Company's net real estate is less than the reported amounts	$ 1

Schedule III_ Real Estate and_4

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Real estate:
Balances at beginning of year	$ 13,473,573	$ 13,974,760	$ 14,330,257
Acquisition of real estate and development and improvements	1,093,903	995,443	987,135
Sales and/or transfers to assets held for sale and discontinued operations	(1,052,145)	(589,391)	(1,227,614)
Deconsolidation of real estate	(325,580)	(825,074)	(10,306)
Impairments	(49,729)	(37,274)	0
Other	(87,625)	(44,891)	(104,712)
Balances at end of year	13,052,397	13,473,573	13,974,760
Accumulated depreciation:
Balances at beginning of year	2,741,695	2,648,930	2,476,015
Depreciation expense	461,664	436,085	465,945
Sales and/or transfers to assets held for sale and discontinued operations	(239,231)	(115,195)	(239,112)
Deconsolidation of real estate	(43,525)	(152,572)	(5,868)
Other	(77,656)	(75,553)	(48,050)
Balances at end of year	$ 2,842,947	$ 2,741,695	$ 2,648,930