Healthpeak Properties (DOC) 10-K 13 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Feb. 10, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-08895
Entity Registrant Name	Healthpeak Properties, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	33-0091377
Entity Address, Address Line One	1920 Main Street
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	949
Local Phone Number	407-0700
Title of 12(b) Security	Common Stock
Trading Symbol	PEAK
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 13.2
Entity Common Stock, Shares Outstanding		505,411,840
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive Proxy Statement for the registrant’s 2020 Annual Meeting of Stockholders have been incorporated by reference into Part III of this Report.
Entity Central Index Key	0000765880
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate:
Buildings and improvements	$ 11,120,039	$ 10,877,248
Development costs and construction in progress	692,336	537,643
Land	1,992,602	1,637,506
Accumulated depreciation and amortization	(2,771,922)	(2,842,947)
Net real estate	11,033,055	10,209,450
Net investment in direct financing leases	84,604	713,818
Loans receivable, net	190,579	62,998
Investments in and advances to unconsolidated joint ventures	825,515	540,088
Accounts receivable, net of allowance of $4,565 and $5,127	59,417	48,171
Cash and cash equivalents	144,232	110,790
Restricted cash	40,425	29,056
Intangible assets, net	331,693	305,079
Assets held for sale, net	504,394	108,086
Right-of-use asset, net	172,486
Other assets, net	646,491	591,017
Total assets	14,032,891	12,718,553
LIABILITIES AND EQUITY
Bank line of credit and commercial paper	93,000	80,103
Term loan	248,942	0
Senior unsecured notes	5,647,993	5,258,550
Mortgage debt	276,907	138,470
Other debt	84,771	90,785
Intangible liabilities, net	74,991	54,663
Liabilities of assets held for sale, net	36,369	1,125
Lease liability	156,611
Accounts payable and accrued liabilities	456,153	391,583
Deferred revenue	289,680	190,683
Total liabilities	7,365,417	6,205,962
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 505,221,643 and 477,496,499 shares issued and outstanding	505,222	477,496
Additional paid-in capital	9,183,892	8,398,847
Cumulative dividends in excess of earnings	(3,601,199)	(2,927,196)
Accumulated other comprehensive income (loss)	(2,857)	(4,708)
Total stockholders' equity	6,085,058	5,944,439
Joint venture partners	378,061	391,401
Non-managing member unitholders	204,355	176,751
Total noncontrolling interests	582,416	568,152
Total equity	6,667,474	6,512,591
Total liabilities and equity	$ 14,032,891	$ 12,718,553

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance (in dollars)	$ 4,565	$ 5,127
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	505,221,643	477,496,499
Common stock, shares outstanding	505,221,643	477,496,499

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Lease, Lease Income	$ 1,222,078,000	$ 1,237,236,000	$ 1,213,649,000
Revenue from Contract with Customer, Excluding Assessed Tax	727,980,000	544,773,000	524,275,000
Revenues:
Income from direct financing leases	37,481,000	54,274,000	54,217,000
Interest income	9,844,000	10,406,000	56,237,000
Total revenues	1,997,383,000	1,846,689,000	1,848,378,000
Costs and expenses:
Interest expense	225,619,000	266,343,000	307,716,000
Depreciation and amortization	659,989,000	549,499,000	534,726,000
Operating	879,370,000	705,038,000	666,251,000
General and administrative	92,966,000	96,702,000	88,772,000
Transaction costs	8,743,000	10,772,000	7,963,000
Impairments (recoveries), net	225,937,000	55,260,000	166,384,000
Total costs and expenses	2,092,624,000	1,683,614,000	1,771,812,000
Other income (expense):
Gain (loss) on sales of real estate, net	22,900,000	925,985,000	356,641,000
Loss on debt extinguishments	(58,364,000)	(44,162,000)	(54,227,000)
Other income (expense), net	182,129,000	13,316,000	31,420,000
Total other income (expense), net	146,665,000	895,139,000	333,834,000
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	51,424,000	1,058,214,000	410,400,000
Income tax benefit (expense)	17,262,000	17,854,000	1,333,000
Equity income (loss) from unconsolidated joint ventures	(8,625,000)	(2,594,000)	10,901,000
Net income (loss)	60,061,000	1,073,474,000	422,634,000
Noncontrolling interests' share in earnings	(14,531,000)	(12,381,000)	(8,465,000)
Net income (loss) attributable to Healthpeak Properties, Inc.	45,530,000	1,061,093,000	414,169,000
Participating securities' share in earnings	(1,543,000)	(2,669,000)	(1,156,000)
Net income (loss) applicable to common shares	$ 43,987,000	$ 1,058,424,000	$ 413,013,000
Earnings per common share:
Basic (in dollars per share)	$ 0.09	$ 2.25	$ 0.88
Diluted (in dollars per share)	$ 0.09	$ 2.24	$ 0.88
Weighted average shares outstanding:
Basic (in shares)	486,255	470,551	468,759
Diluted (in shares)	489,335	475,387	468,935

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 60,061	$ 1,073,474	$ 422,634
Other comprehensive income (loss):
Net unrealized gains (losses) on derivatives	758	6,025	(11,107)
Reclassification adjustment realized in net income (loss)	1,023	18,088	799
Change in Supplemental Executive Retirement Plan obligation and other	(590)	561	64
Foreign currency translation adjustment	660	(5,358)	15,862
Total other comprehensive income (loss)	1,851	19,316	5,618
Total comprehensive income (loss)	61,912	1,092,790	428,252
Total comprehensive income (loss) attributable to noncontrolling interests	(14,531)	(12,381)	(8,465)
Total comprehensive income (loss) attributable to Healthpeak Properties, Inc.	$ 47,381	$ 1,080,409	$ 419,787

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, 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	0
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)		0			0	(26,129)
Issuances of noncontrolling interests		1,615						1,615
Deconsolidation of noncontrolling interests		(58,062)		0	0		0	(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
Cumulative effect of new accounting principle	[1]	79,144			79,144		79,144
Adjusted balance, January 1		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
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)		0				(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
Increase (Decrease) in Stockholders' Equity
Cumulative effect of new accounting principle	[2]	590			590		590
Adjusted balance, January 1		6,513,181	$ 477,496	8,398,847	(2,926,606)	(4,708)	5,945,029	568,152
Net income (loss)		60,061			45,530		45,530	14,531
Other comprehensive income (loss)		1,851				1,851	1,851
Issuance of common stock, net		791,048	$ 27,523	763,525			791,048
Issuance of common stock, net (in shares)			27,523
Conversion of DownREIT units to common stock		0	$ 213	4,932			5,145	$ (5,145)
Conversion of DownREIT units to common stock (in shares)			213					7,000
Repurchase of common stock		(5,043)	$ (162)	(4,881)			(5,043)
Repurchase of common stock (in shares)			(162)
Exercise of stock options		4,538	$ 152	4,386			4,538
Exercise of stock options (in shares)			152
Amortization of deferred compensation		18,162		18,162			18,162
Common dividends		(720,123)			(720,123)		(720,123)
Distributions to noncontrolling interests		(28,301)						$ (28,301)
Issuances of noncontrolling interests		33,318						33,318
Purchase of noncontrolling interests		(1,218)		(1,079)			(1,079)	(139)
Balance at Dec. 31, 2019		$ 6,667,474	$ 505,222	$ 9,183,892	$ (3,601,199)	$ (2,857)	$ 6,085,058	$ 582,416
Balance (in shares) at Dec. 31, 2019			505,222
[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.
[2]	On January 1, 2019, the Company adopted a series of ASUs related to accounting for leases, 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, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common dividends, per share (in dollars per share)	$ 1.480	$ 1.480	$ 1.480

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 60,061	$ 1,073,474	$ 422,634
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	659,989	549,499	534,726
Amortization of deferred compensation	18,162	16,563	14,258
Amortization of deferred financing costs	10,863	12,612	14,569
Straight-line rents	(22,479)	(23,138)	(23,933)
Equity loss (income) from unconsolidated joint ventures	8,625	2,594	(10,901)
Distributions of earnings from unconsolidated joint ventures	20,114	22,467	44,142
Non-cash lease and management fee termination loss (income), net	0	0	54,641
Deferred income tax expense (benefit)	(18,253)	(18,525)	(5,523)
Impairments (recoveries), net	225,937	55,260	166,384
Loss on extinguishment of debt	58,364	44,162	54,227
Loss (gain) on sales of real estate, net	(22,900)	(925,985)	(356,641)
Loss (gain) on consolidation, net	(168,023)	(9,154)	0
Casualty-related loss (recoveries), net	(3,706)	0	12,053
Loss (gain) on sale of marketable securities	0	0	(50,895)
Other non-cash items	(2,569)	2,569	(2,735)
Decrease (increase) in accounts receivable and other assets, net	(49,771)	5,686	(24,782)
Increase (decrease) in accounts payable, accrued liabilities and deferred revenue	71,659	40,625	4,817
Net cash provided by (used in) operating activities	846,073	848,709	847,041
Cash flows from investing activities:
Acquisitions of real estate	(1,604,285)	(426,080)	(560,753)
Development, redevelopment, and other major improvements of real estate	(626,904)	(503,643)	(373,479)
Leasing costs, tenant improvements, and recurring capital expenditures	(108,844)	(106,193)	(115,260)
Proceeds from sales of real estate, net	230,455	2,044,477	1,314,325
Contributions to unconsolidated joint ventures	(14,956)	(12,203)	(46,334)
Distributions in excess of earnings from unconsolidated joint ventures	27,072	26,472	37,023
Proceeds from insurance recovery	9,359	0	0
Proceeds from the RIDEA II transaction, net	0	335,709	462,242
Proceeds from the U.K. JV transaction, net	(89,868)	(393,997)	0
Proceeds from Divestiture of Interest in Subsidiaries and Affiliates	354,774	0	0
Proceeds from sales/principal repayments on debt investments and direct financing leases	274,150	148,024	558,769
Investments in loans receivable, direct financing leases and other	(79,467)	(71,281)	(30,276)
Net cash provided by (used in) investing activities	(1,448,778)	1,829,279	1,246,257
Cash flows from financing activities:
Borrowings under bank line of credit and commercial paper	7,607,788	1,823,000	1,244,189
Repayments under bank line of credit and commercial paper	(7,597,047)	(2,755,668)	(1,150,596)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper	2,047,069	223,587	5,395
Repayments and repurchase of debt, excluding bank line of credit and commercial paper	(1,654,142)	(1,604,026)	(1,468,446)
Borrowings under term loan	250,000	0	0
Payments for debt extinguishment and deferred financing costs	(80,616)	(41,552)	(51,415)
Issuance of common stock and exercise of options	795,586	217,656	28,121
Repurchase of common stock	(5,043)	(3,432)	(4,785)
Dividends paid on common stock	(720,123)	(696,913)	(694,955)
Issuance of noncontrolling interests	33,318	299,666	1,615
Distributions to and purchase of noncontrolling interests	(29,519)	(82,854)	(57,584)
Net cash provided by (used in) financing activities	647,271	(2,620,536)	(2,148,461)
Effect of foreign exchanges on cash, cash equivalents and restricted cash	245	191	376
Net increase (decrease) in cash, cash equivalents and restricted cash	44,811	57,643	(54,787)
Cash, cash equivalents and restricted cash, beginning of year	139,846	82,203	136,990
Cash, cash equivalents and restricted cash, end of year	$ 184,657	$ 139,846	$ 82,203

Business

Business	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business Overview Healthpeak Properties, Inc. (formerly HCP, Inc.), a Standard & Poor's 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, "Healthpeak" or the "Company"), invests primarily in real estate serving the healthcare industry in the United States ("U.S."). Healthpeak TM acquires, develops, leases, owns, and manages 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. On October 30, 2019, the Company changed its name from HCP, Inc. to Healthpeak Properties, Inc. Common shares of the Company began trading on the New York Stock Exchange under the new name and a new ticker symbol, "PEAK", on November 5, 2019.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
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 Healthpeak Properties, 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 is reassessed upon certain events, including, but not limited to: (i) a change to the contractual arrangements of the entity or in the ability of a party to exercise its participation or 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 began 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, and are recognized as both revenue (in rental and related revenues) and expense (in operating expenses) in the period the expense is incurred as the Company is the party paying the service provider. For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight line basis over the lease term when collectibility of future minimum lease payments is probable. 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 future minimum lease payments is not probable, the straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period and future revenue recognition is limited to amounts contractually owed and paid. 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 for SHOP facilities 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. Certain of the Company's continuing care retirement communities ("CCRCs") are operated as entrance fee communities, which typically require a resident to pay an upfront entrance fee that includes both a refundable portion and non-refundable portion. When the Company receives a nonrefundable entrance fee, it is recognized as deferred revenue and amortized into revenue over the estimated stay of the resident. 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. Credit Losses 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, operators, and borrowers 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. If it is no longer probable that substantially all future minimum lease payments under operating leases will be received, the straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period. 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 if: (i) 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. Prior to the adoption of ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) on January 1, 2020, allowances were established for Finance Receivables on an individual basis utilizing an estimate of probable losses, if they were determined to be impaired. Finance Receivables were impaired when it was deemed probable that the Company would be unable to collect all amounts due in accordance with the contractual terms of the Finance Receivable. An allowance was based upon the Company’s assessment of the 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 considered 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. If a Finance Receivable was deemed partially or wholly uncollectible, the uncollectible balance was charged off against the allowance in the period in which the uncollectible determination was made. Subsequent to adopting ASU 2016-13 on January 1, 2020, the Company began using a loss model that relies on future expected credit losses, rather than incurred losses, as was required under historical U.S. GAAP. Under the new model, the Company is required to recognize future credit losses expected to be incurred over the life of a Financing Receivable at inception of that instrument. The model emphasizes historical experience and future market expectations to determine a loss to be recognized at inception. However, the model continues to be applied on an individual basis and to rely on counter-party specific information to ensure the most accurate estimate is recognized. 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 amount of consideration is reasonably estimable and probable of being paid. 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 recognizes acquired “above and below market” leases at their relative fair value (for asset acquisitions) using discount rates which reflect the risks associated with the leases acquired. The fair value 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 renewal options that are reasonably certain to be exercised. 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. Certain of the Company's acquisitions involve the assumption of contract liabilities. The Company typically estimates the fair value of contract liabilities by applying a reasonable profit margin to the total discounted estimated future costs associated with servicing the contract. A variety of market and contract-specific conditions are considered when making assumptions that impact the estimated fair value of the contract liability. 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 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 . Above and below market lease intangibles are amortized to revenue over the remaining noncancellable lease terms and renewal periods that are reasonably certain to be exercised, if any. In-place lease intangibles are amortized to expense over the remaining noncancellable lease term and renewal periods that are reasonably certain to be exercised, 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. Determining the fair value of real estate assets, including assets classified as held-for-sale, involves significant judgment and generally utilizes market capitalization rates, comparable market transactions, estimated per unit or per square foot prices, negotiations with prospective buyers, and forecasted cash flows (lease revenue rates, expense rates, growth rates, etc.). 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. 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. 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 may 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 the Company does not consolidate, but over which the Company has the ability to exercise significant influence over operating and financial policies, are reported under the equity method of accounting. Under the equity method of accounting, the Company’s share of the investee’s earnings or losses is included in equity income (loss) from unconsolidated joint ventures within the Company’s consolidated statements 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 on a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in fair value below carrying value of an investment in an unconsolidated joint venture 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 on assumptions that the Company believes to be within a reasonable range of current market rates for the respective investments. Share-Based Compensation Compensation expense for share-based awards granted to employees 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, (ii) tenant improvements, and (iii) capital expenditures, as well as security deposits and 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 to 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. 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 Healthpeak Properties, 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, Healthpeak Properties, 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. Healthpeak Properties, 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. Healthpeak Properties, Inc. and its consolidated REIT subsidiaries are subject to state, local, and/or foreign income taxes in some jurisdictions. 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 that 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

Master Transactions and Coopera

Master Transactions and Cooperation Agreement with Brookdale	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Master Transaction and Cooperation Agreement with Brookdale	Master Transactions and Cooperation Agreement with Brookdale 2019 Master Transactions and Cooperation Agreement with Brookdale In October 2019, the Company and Brookdale Senior Living Inc. (“Brookdale”) entered into a Master Transactions and Cooperation Agreement (the “2019 MTCA”), which includes a series of transactions related to its jointly owned 15 -campus continuing care retirement community (“CCRC”) portfolio (the “CCRC JV”) and the portfolio of 43 senior housing properties Brookdale triple-net leases from the Company. In connection with the 2019 MTCA, the Company and Brookdale, and certain of their respective subsidiaries, agreed to the following related to the CCRC JV: • The Company, which owns a 49% interest in the CCRC JV, agreed to purchase Brookdale’s 51% interest in 13 of the 15 communities in the CCRC JV based on a valuation of $1.06 billion (the “CCRC Acquisition”); • The management agreements related to the CCRC Acquisition communities will be terminated, with management transitioned (under new management agreements) from Brookdale to Life Care Services LLC (“LCS”) simultaneous with closing the CCRC Acquisition; • The Company will pay a $100 million management termination fee to Brookdale upon closing the CCRC Acquisition; and • The remaining two CCRCs will be jointly marketed for sale to third parties. In addition, pursuant to the 2019 MTCA, the Company and Brookdale agreed to the following transactions related to properties Brookdale triple-net leases from the Company: • Brookdale will acquire 18 of the properties from the Company (the “Brookdale Acquisition Assets”) for cash proceeds of $385 million ; • The Company will terminate the triple-net lease related to one property and transition it to a RIDEA structure with LCS as the manager; • The remaining 24 properties will be restructured into a single master lease with 2.4% annual rent escalators and a maturity date of December 31, 2027 (the “2019 Amended Master Lease”); • A portion of annual rent (amount in excess of 6.5% of sales proceeds) related to 14 of the 18 Brookdale Acquisition Assets will be reallocated to the remaining properties under the 2019 Amended Master Lease; • Upon sale of the Brookdale Acquisition Assets, Brookdale will pay down $20 million of future rent under the 2019 Amended Master Lease; and • The Company will provide up to $35 million of capital investment in the 2019 Amended Master Lease properties over a five-year term, which will increase rent by 7% of the amount spent, per annum. With the exception of the capital investment to be made over the next five years and the sale of the two CCRCs that are being marketed to third parties, each of the above transactions, including payment of the $100 million management termination fee, closed on January 31, 2020. The Company expects to recognize a management termination fee expense, gain on sales of real estate, and gain on consolidation during the first quarter of 2020 related to the 2019 MTCA transactions. As discussed in Note 2, certain events require the Company to reconsider whether an entity is a VIE (as defined in Note 2). Additionally, the Company is required to continually reassess whether it is the primary beneficiary of a VIE. The Company considered whether entering into the 2019 MTCA during the fourth quarter of 2019: (i) constituted a reconsideration event as it relates to the CCRC JV or (ii) changed the Company's previous primary beneficiary and consolidation conclusions and, in both cases, concluded that it did not. As a result, the above transactions had no impact to the Company's consolidated financial statements during the year ended December 31, 2019. 2017 MTCA with Brookdale In November 2017, the Company and Brookdale entered into a Master Transactions and Cooperation Agreement (the “2017 MTCA”) to provide the Company with the ability to significantly reduce its concentration of assets leased to and/or managed by Brookdale. In connection with the overall transaction pursuant to the 2017 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 2017 MTCA was executed, agreed to purchase Brookdale’s 10% noncontrolling interest in each joint venture. At the time the 2017 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 “2017 Amended Master Lease”) with Brookdale and 36 of the RIDEA Facilities (and terminate related management agreements with an affiliate of Brookdale without penalty), certain of which were sold during 2018 and 2019 and are included in the disposition transactions discussed in Note 4; • 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 2017 Amended Master Lease for $35 million and four of the RIDEA Facilities for $240 million , all of which were sold in 2018 and are included in the 2018 disposition transactions discussed in Note 4. During 2018, the Company terminated the previous management agreements or leases with Brookdale on 37 assets contemplated under the 2017 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 2017 MTCA components that provided measurable economic benefit or detriment to the Company. Each fair value calculation was based on an income or market approach and relied 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 were 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

Real Estate Transactions

Real Estate Transactions	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate Transactions	Real Estate Transactions 2019 Real Estate Investments Cambridge Acquisition During the first quarter of 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. Discovery Portfolio Acquisition In April 2019, the Company acquired a portfolio of nine senior housing properties for $445 million . The properties are located across Florida, Georgia, and Texas and are operated by Discovery Senior Living, LLC. Oakmont Portfolio Acquisitions In May 2019, the Company acquired three senior housing communities in California for $113 million and in July 2019, the Company acquired an additional five senior housing communities for $284 million . Both portfolios were acquired from and continue to be operated by Oakmont Senior Living LLC (“Oakmont”). Each portfolio was contributed to a DownREIT joint venture in which the sellers received non-controlling interests in lieu of cash for a portion of the sales price. The Company consolidates each DownREIT joint venture. As part of the May and July 2019 Oakmont transactions, the Company assumed $50 million and $112 million , respectively, of secured mortgage debt, both of which were recorded at their relative fair values through asset acquisition accounting. Sierra Point Towers Acquisition In June 2019, the Company acquired two life science buildings in South San Francisco, California adjacent to the Company’s The Shore at Sierra Point development, for $245 million . Vintage Park JV Interest Purchase In June 2019, the Company acquired the outstanding equity interests of a senior housing joint venture structure (which owned one senior housing facility), in which the Company previously held an unconsolidated equity investment, for $24 million . Subsequent to acquisition, the Company owned 100% of the equity. Upon consolidating the facility at acquisition, the Company derecognized the existing investment in the joint venture structure, marked the real estate to fair value (using a relative fair value allocation), and recognized a gain on consolidation of $12 million , net of a tax impact of $1 million . The gain on consolidation is recognized within other income (expense), net and the tax impact is recognized within income tax benefit (expense). Hartwell Innovation Campus Acquisition In July 2019, the Company acquired a life science campus in the suburban Boston submarket of Lexington, Massachusetts, for $228 million . The campus is comprised of four buildings. West Cambridge Acquisition In December 2019, the Company acquired one life science building, adjacent to the Company’s existing properties in Cambridge, Massachusetts, for $333 million . Sovereign Wealth Fund Senior Housing Joint Venture In December 2019, the Company formed a new joint venture (the "SWF SH JV") with a sovereign wealth fund that owns 19 SHOP assets operated by Brookdale. The Company owns 53.5% of the SWF SH JV and contributed all 19 assets with a fair value of $790 million . The SWF SH JV partner owns the other 46.5% and purchased its interest for $367 million . Upon formation of the SWF SH JV, the Company recognized its retained equity method investment at fair value, deconsolidated the 19 assets, and recognized a gain on deconsolidation of $161 million recorded in other income (expense), net. Other Real Estate Acquisitions During the year ended December 31, 2019, the Company acquired one medical office building (“MOB”) in Kansas for $15 million , one MOB in Texas for $9 million , and one life science building in the Sorrento Mesa submarket of San Diego, California for $16 million . The Post Acquisition In January 2020, the Company entered into definitive agreements to acquire a life science campus in Waltham, Massachusetts, for $320 million . The Company made a $20 million nonrefundable deposit upon completing due diligence and expects to close the transaction in the second quarter of 2020. 2018 Real Estate 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 MOBs for which the Company is a 51% owner and consolidates. To form the joint venture, MSREI contributed cash of $298 million and the Company 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 the anchor tenants 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 was accounted for as an asset acquisition, which required the Company to record the individual components of the acquisition at their relative fair values. 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 18 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. 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. 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 2019 2018 2017 Senior housing triple-net $ 6,662 $ 11,311 $ 32,343 SHOP 90,874 53,389 49,473 Life science 499,956 396,431 240,901 Medical office 146,016 144,694 148,926 Other 450 1,361 135 $ 743,958 $ 607,186 $ 471,778 As part of the development program with HCA Healthcare, Inc., during the year ended December 31, 2019, the Company commenced development on seven MOBs, six of which will be on-campus. Held for Sale At December 31, 2019 , 27 senior housing triple-net facilities (inclusive of 18 facilities being sold to Brookdale under the 2019 MTCA - see Note 3), 28 SHOP facilities, and 2 MOBs were classified as held for sale, with an aggregate carrying value of $504 million , primarily comprised of real estate assets of $476 million , net of accumulated depreciation of $243 million . Liabilities of assets held for sale were primarily comprised of mortgage debt of $32 million and other liabilities of $4 million at December 31, 2019 . At December 31, 2018 , one undeveloped life science land parcel and nine SHOP facilities 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 . Liabilities of assets held for sale were primarily comprised of intangible liabilities and other liabilities at December 31, 2018 . 2019 Dispositions of Real Estate During the quarter ended March 31, 2019, the Company sold nine SHOP assets for $68 million , two senior housing triple-net assets for $26 million , and one undeveloped life science land parcel for $35 million , resulting in total gain on sales of $8 million . During the quarter ended June 30, 2019, the Company sold one SHOP asset for $14 million , five MOBs for $15 million , and one life science asset for $7 million , resulting in total gain on sales of $11 million . During the quarter ended September 30, 2019, the Company sold one MOB for $3 million and one SHOP asset for $7 million , resulting in no material gain or loss on sales. During the quarter ended December 31, 2019, the Company sold seven SHOP assets for $92 million , four MOBs for $5 million , and two facilities from the other non-reportable segment for $20 million , resulting in total gain on sales of $ 11 million . In January 2020, the Company sold six SHOP assets for $36 million . 2018 Dispositions of Real Estate 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 Dispositions As discussed in Note 3, during the fourth quarter of 2018, the Company sold 19 assets ( 11 senior housing triple-net assets and 8 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 Healthpeak and an investor group led by Columbia Pacific Advisors, LLC (“CPA”) (the “Healthpeak/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 the Company. In return for both transaction elements, the Company received combined proceeds of $480 million from the Healthpeak/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. In June 2018, the Company sold its remaining 40% ownership interest in RIDEA II to an investor group led by CPA for $91 million . Additionally, CPA refinanced the Company’s $242 million of loans receivable from RIDEA II, resulting in total 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 recorded in gain (loss) on sales of real estate, net (see Note 21 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 was 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. In December 2019, the Company sold its remaining 49% interest in the U.K. JV (see Note 8). 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 4 life science assets for $269 million , 11 SHOP assets for $76 million and 2 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 .

Impairments

Impairments	12 Months Ended
	Dec. 31, 2019
Asset Impairment Charges [Abstract]
Impairments	Impairments Real Estate During the year ended December 31, 2019 , the Company recognized an aggregate impairment charge of $194 million in conjunction with classifying 8 senior housing triple-net assets, 27 SHOP assets, 3 MOBs, and 1 other non-reportable asset as held for sale and writing their aggregate carrying value of $416 million down to their aggregate fair value less estimated costs to sell of $223 million . During the year ended December 31, 2019 , the Company also recognized an impairment charge of $4 million related to one MOB that it intends to demolish. Additionally, during the year ended December 31, 2019 , the Company determined the carrying value of two MOBs and one SHOP asset that were candidates for potential future sale was no longer recoverable due to the Company’s shortened intended hold period under the held-for-use impairment model. Accordingly, the Company wrote-down the carrying amount of these three assets to their respective fair value, which resulted in an aggregate impairment charge of $18 million . The fair value of the impaired assets was based on forecasted sales prices, which are considered to be Level 3 measurements within the fair value hierarchy. Forecasted sales prices were determined using a direct capitalization model or a market approach (comparable sales model), which rely on certain assumptions by management, including: (i) market capitalization rates, (ii) comparable market transactions, (iii) estimated prices per unit or per square foot, (iv) negotiations with perspective buyers, and (v) forecasted cash flow streams (lease revenue rates, expense rates, growth rates, etc.). There are inherent uncertainties in making these assumptions. For the Company’s impairment calculations during the year ended December 31, 2019 , the Company estimated the fair value of each asset using either (i) market capitalization rates ranging from 4.97% to 8.27% , with a weighted average rate of 6.22% , or (ii) prices per unit ranging from $24,000 to $125,000 , with a weighted average price of $73,000 . 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 the carrying value of 11 underperforming senior housing triple-net assets that were candidates for potential future sale was no longer recoverable due to the Company's shortened intended hold period under the held-for-use impairment model. Accordingly, the Company wrote-down the carrying amount of these 11 assets to their respective fair values, 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 During the year ended December 31, 2019 , the Company recognized a $5 million casualty-related gain, net of deferred tax impacts, as a result of insurance proceeds received for property damage and other associated costs related to hurricanes in 2017. The gain is recorded in other income (expense), net. 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

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Leases Lease Income The following table summarizes the Company’s lease income (dollars in thousands): Year Ended December 31, 2019 2018 2017 Fixed income from operating leases $ 984,942 $ 1,013,757 $ 944,796 Variable income from operating leases 237,136 223,479 268,853 Interest income from direct financing leases 37,481 54,274 54,217 Direct Financing Leases Net investment in DFLs consists of the following (dollars in thousands): December 31, Present value of minimum lease payments receivable $ 19,138 Present value of estimated residual value 84,604 Less deferred selling profits (19,138 ) Net investment in direct financing leases before allowance 84,604 Allowance for direct financing lease losses — Net investment in direct financing leases $ 84,604 Properties subject to direct financing leases 2 December 31, Minimum lease payments receivable $ 1,013,976 Estimated residual value 507,484 Less unearned income (807,642 ) Net investment in direct financing leases $ 713,818 Properties subject to direct financing leases 29 Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Other non-reportable segments $ 84,604 100 $ 84,604 — — $ 84,604 100 $ 84,604 $ — $ — Direct Financing Lease Conversion During the first quarter of 2019, the Company converted a DFL portfolio of 14 senior housing triple-net properties, previously on “Watch List” status, to a RIDEA structure, requiring the Company to recognize net assets equal to the lower of the net assets’ fair value or the carrying value of the net investment in the DFL. As a result, the Company derecognized the $351 million carrying value of the net investment in DFL related to the 14 properties and recognized a combination of net real estate ( $331 million ) and net intangibles assets ( $20 million ) for the same aggregate amount, with no gain or loss recognized. As a result of the transaction, the 14 properties were transitioned from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Sale During the second quarter of 2019, the Company entered into agreements to sell 13 senior housing facilities under DFLs (the “DFL Sale Portfolio”) for $274 million . Upon entering into the agreements, the Company recognized an allowance for DFL losses and related impairment charge of $10 million to write-down the carrying value of the DFL Sale Portfolio to its fair value. The fair value of the DFL Sale Portfolio was based upon the agreed on sale price, less estimated costs to sell, which is considered to be a Level 2 measurement within the fair value hierarchy. In conjunction with the entering into agreements to sell the DFL Sale Portfolio, the Company placed the portfolio on nonaccrual status and began recognizing income equal to the amount of cash received. The Company completed the sale of the DFL Sale Portfolio in September 2019. The following table summarizes the activity of the DFL Sale Portfolio during the periods presented (dollars in thousands): Year Ended December 31, 2019 2018 2017 Income from DFLs $ 17,287 $ 23,616 $ 23,820 Cash payments received 16,005 19,633 19,494 Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2019 (in thousands): Year Amount 2020 $ 9,553 2021 8,409 2022 1,176 2023 — 2024 — Thereafter — Undiscounted minimum lease payments receivable 19,138 Less: imputed interest — Present value of minimum lease payments receivable $ 19,138 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 Residual Value Risk Quarterly, the Company reviews the estimated unguaranteed residual value of assets under DFLs to determine if there have been any material changes compared to the prior quarter. As needed, the Company and/or the related tenants will invest necessary funds to maintain the residual value of each asset. 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, 2019 (in thousands): Year Amount 2020 $ 998,376 2021 968,622 2022 904,799 2023 822,259 2024 708,871 Thereafter 2,522,333 $ 6,925,260 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 2020 $ 17,219 10 2021 27,947 7 2022 10,924 3 2023 — — 2024 2,924 1 Thereafter 25,022 19 $ 84,036 40 _______________________________________ (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). During the fourth quarter of 2019, the Company's tenant exercised its option to acquire from the Company an acute care hospital and adjacent land parcel located in Irvine, California for $226 million . The sale is scheduled to close during the first half of 2021. The annualized base rent associated with the assets covered by this purchase option is included in the table above for 2021. Lease Costs The following tables provide information regarding the Company’s leases to which it is the lessee, such as corporate offices and ground leases (dollars in thousands): Year Ended December 31, Lease Expense Information: 2019 2018 2017 Total lease expense (1) $ 16,238 $ 14,783 $ 13,674 _______________________________________ (1) Lease expense related to corporate assets is included in general and administrative expenses and lease expense related to ground leases is included within operating expenses in the Company’s consolidated statements of operations. Year Ended December 31, Supplemental Cash Flow Information: 2019 2018 2017 Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 12,727 11,655 $ 10,745 ROU asset obtained in exchange for new lease liability: Operating leases $ 5,733 $ — $ — Weighted Average Lease Term and Discount Rate: December 31, Weighted average remaining lease term (years): Operating leases 51 Weighted average discount rate: Operating leases 4.36 % The following table summarizes future minimum lease payments under non-cancelable ground and other operating leases included in the Company’s lease liability as of December 31, 2019 (in thousands): Year Amount 2020 $ 9,407 2021 9,208 2022 9,045 2023 8,985 2024 7,139 Thereafter 451,790 Undiscounted minimum lease payments included in the lease liability 495,574 Less: imputed interest (338,963 ) Present value of lease liability $ 156,611 The following table summarizes future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 (in thousands): Year Amount 2019 $ 5,597 2020 5,687 2021 5,776 2022 5,862 2023 5,983 Thereafter 466,130 $ 495,035 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases and DFLs, in certain situations, the Company owns and operates certain property, plant, and equipment for general corporate purposes. Corporate assets are recorded within other assets, net within the Company’s consolidated balance sheets and depreciation expense for those assets is recorded in general and administrative expenses in the Company’s consolidated statements of operations. Included within other assets, net as of December 31, 2019 and December 31, 2018 is $4 million and $2 million , respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the year ended December 31, 2019 , 2018 , and 2017 is $2 million , $4 million and $1 million
Leases	Leases Lease Income The following table summarizes the Company’s lease income (dollars in thousands): Year Ended December 31, 2019 2018 2017 Fixed income from operating leases $ 984,942 $ 1,013,757 $ 944,796 Variable income from operating leases 237,136 223,479 268,853 Interest income from direct financing leases 37,481 54,274 54,217 Direct Financing Leases Net investment in DFLs consists of the following (dollars in thousands): December 31, Present value of minimum lease payments receivable $ 19,138 Present value of estimated residual value 84,604 Less deferred selling profits (19,138 ) Net investment in direct financing leases before allowance 84,604 Allowance for direct financing lease losses — Net investment in direct financing leases $ 84,604 Properties subject to direct financing leases 2 December 31, Minimum lease payments receivable $ 1,013,976 Estimated residual value 507,484 Less unearned income (807,642 ) Net investment in direct financing leases $ 713,818 Properties subject to direct financing leases 29 Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Other non-reportable segments $ 84,604 100 $ 84,604 — — $ 84,604 100 $ 84,604 $ — $ — Direct Financing Lease Conversion During the first quarter of 2019, the Company converted a DFL portfolio of 14 senior housing triple-net properties, previously on “Watch List” status, to a RIDEA structure, requiring the Company to recognize net assets equal to the lower of the net assets’ fair value or the carrying value of the net investment in the DFL. As a result, the Company derecognized the $351 million carrying value of the net investment in DFL related to the 14 properties and recognized a combination of net real estate ( $331 million ) and net intangibles assets ( $20 million ) for the same aggregate amount, with no gain or loss recognized. As a result of the transaction, the 14 properties were transitioned from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Sale During the second quarter of 2019, the Company entered into agreements to sell 13 senior housing facilities under DFLs (the “DFL Sale Portfolio”) for $274 million . Upon entering into the agreements, the Company recognized an allowance for DFL losses and related impairment charge of $10 million to write-down the carrying value of the DFL Sale Portfolio to its fair value. The fair value of the DFL Sale Portfolio was based upon the agreed on sale price, less estimated costs to sell, which is considered to be a Level 2 measurement within the fair value hierarchy. In conjunction with the entering into agreements to sell the DFL Sale Portfolio, the Company placed the portfolio on nonaccrual status and began recognizing income equal to the amount of cash received. The Company completed the sale of the DFL Sale Portfolio in September 2019. The following table summarizes the activity of the DFL Sale Portfolio during the periods presented (dollars in thousands): Year Ended December 31, 2019 2018 2017 Income from DFLs $ 17,287 $ 23,616 $ 23,820 Cash payments received 16,005 19,633 19,494 Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2019 (in thousands): Year Amount 2020 $ 9,553 2021 8,409 2022 1,176 2023 — 2024 — Thereafter — Undiscounted minimum lease payments receivable 19,138 Less: imputed interest — Present value of minimum lease payments receivable $ 19,138 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 Residual Value Risk Quarterly, the Company reviews the estimated unguaranteed residual value of assets under DFLs to determine if there have been any material changes compared to the prior quarter. As needed, the Company and/or the related tenants will invest necessary funds to maintain the residual value of each asset. 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, 2019 (in thousands): Year Amount 2020 $ 998,376 2021 968,622 2022 904,799 2023 822,259 2024 708,871 Thereafter 2,522,333 $ 6,925,260 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 2020 $ 17,219 10 2021 27,947 7 2022 10,924 3 2023 — — 2024 2,924 1 Thereafter 25,022 19 $ 84,036 40 _______________________________________ (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). During the fourth quarter of 2019, the Company's tenant exercised its option to acquire from the Company an acute care hospital and adjacent land parcel located in Irvine, California for $226 million . The sale is scheduled to close during the first half of 2021. The annualized base rent associated with the assets covered by this purchase option is included in the table above for 2021. Lease Costs The following tables provide information regarding the Company’s leases to which it is the lessee, such as corporate offices and ground leases (dollars in thousands): Year Ended December 31, Lease Expense Information: 2019 2018 2017 Total lease expense (1) $ 16,238 $ 14,783 $ 13,674 _______________________________________ (1) Lease expense related to corporate assets is included in general and administrative expenses and lease expense related to ground leases is included within operating expenses in the Company’s consolidated statements of operations. Year Ended December 31, Supplemental Cash Flow Information: 2019 2018 2017 Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 12,727 11,655 $ 10,745 ROU asset obtained in exchange for new lease liability: Operating leases $ 5,733 $ — $ — Weighted Average Lease Term and Discount Rate: December 31, Weighted average remaining lease term (years): Operating leases 51 Weighted average discount rate: Operating leases 4.36 % The following table summarizes future minimum lease payments under non-cancelable ground and other operating leases included in the Company’s lease liability as of December 31, 2019 (in thousands): Year Amount 2020 $ 9,407 2021 9,208 2022 9,045 2023 8,985 2024 7,139 Thereafter 451,790 Undiscounted minimum lease payments included in the lease liability 495,574 Less: imputed interest (338,963 ) Present value of lease liability $ 156,611 The following table summarizes future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 (in thousands): Year Amount 2019 $ 5,597 2020 5,687 2021 5,776 2022 5,862 2023 5,983 Thereafter 466,130 $ 495,035 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases and DFLs, in certain situations, the Company owns and operates certain property, plant, and equipment for general corporate purposes. Corporate assets are recorded within other assets, net within the Company’s consolidated balance sheets and depreciation expense for those assets is recorded in general and administrative expenses in the Company’s consolidated statements of operations. Included within other assets, net as of December 31, 2019 and December 31, 2018 is $4 million and $2 million , respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the year ended December 31, 2019 , 2018 , and 2017 is $2 million , $4 million and $1 million
Leases	Leases Lease Income The following table summarizes the Company’s lease income (dollars in thousands): Year Ended December 31, 2019 2018 2017 Fixed income from operating leases $ 984,942 $ 1,013,757 $ 944,796 Variable income from operating leases 237,136 223,479 268,853 Interest income from direct financing leases 37,481 54,274 54,217 Direct Financing Leases Net investment in DFLs consists of the following (dollars in thousands): December 31, Present value of minimum lease payments receivable $ 19,138 Present value of estimated residual value 84,604 Less deferred selling profits (19,138 ) Net investment in direct financing leases before allowance 84,604 Allowance for direct financing lease losses — Net investment in direct financing leases $ 84,604 Properties subject to direct financing leases 2 December 31, Minimum lease payments receivable $ 1,013,976 Estimated residual value 507,484 Less unearned income (807,642 ) Net investment in direct financing leases $ 713,818 Properties subject to direct financing leases 29 Direct Financing Lease Internal Ratings The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Other non-reportable segments $ 84,604 100 $ 84,604 — — $ 84,604 100 $ 84,604 $ — $ — Direct Financing Lease Conversion During the first quarter of 2019, the Company converted a DFL portfolio of 14 senior housing triple-net properties, previously on “Watch List” status, to a RIDEA structure, requiring the Company to recognize net assets equal to the lower of the net assets’ fair value or the carrying value of the net investment in the DFL. As a result, the Company derecognized the $351 million carrying value of the net investment in DFL related to the 14 properties and recognized a combination of net real estate ( $331 million ) and net intangibles assets ( $20 million ) for the same aggregate amount, with no gain or loss recognized. As a result of the transaction, the 14 properties were transitioned from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Sale During the second quarter of 2019, the Company entered into agreements to sell 13 senior housing facilities under DFLs (the “DFL Sale Portfolio”) for $274 million . Upon entering into the agreements, the Company recognized an allowance for DFL losses and related impairment charge of $10 million to write-down the carrying value of the DFL Sale Portfolio to its fair value. The fair value of the DFL Sale Portfolio was based upon the agreed on sale price, less estimated costs to sell, which is considered to be a Level 2 measurement within the fair value hierarchy. In conjunction with the entering into agreements to sell the DFL Sale Portfolio, the Company placed the portfolio on nonaccrual status and began recognizing income equal to the amount of cash received. The Company completed the sale of the DFL Sale Portfolio in September 2019. The following table summarizes the activity of the DFL Sale Portfolio during the periods presented (dollars in thousands): Year Ended December 31, 2019 2018 2017 Income from DFLs $ 17,287 $ 23,616 $ 23,820 Cash payments received 16,005 19,633 19,494 Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2019 (in thousands): Year Amount 2020 $ 9,553 2021 8,409 2022 1,176 2023 — 2024 — Thereafter — Undiscounted minimum lease payments receivable 19,138 Less: imputed interest — Present value of minimum lease payments receivable $ 19,138 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 Residual Value Risk Quarterly, the Company reviews the estimated unguaranteed residual value of assets under DFLs to determine if there have been any material changes compared to the prior quarter. As needed, the Company and/or the related tenants will invest necessary funds to maintain the residual value of each asset. 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, 2019 (in thousands): Year Amount 2020 $ 998,376 2021 968,622 2022 904,799 2023 822,259 2024 708,871 Thereafter 2,522,333 $ 6,925,260 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 2020 $ 17,219 10 2021 27,947 7 2022 10,924 3 2023 — — 2024 2,924 1 Thereafter 25,022 19 $ 84,036 40 _______________________________________ (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). During the fourth quarter of 2019, the Company's tenant exercised its option to acquire from the Company an acute care hospital and adjacent land parcel located in Irvine, California for $226 million . The sale is scheduled to close during the first half of 2021. The annualized base rent associated with the assets covered by this purchase option is included in the table above for 2021. Lease Costs The following tables provide information regarding the Company’s leases to which it is the lessee, such as corporate offices and ground leases (dollars in thousands): Year Ended December 31, Lease Expense Information: 2019 2018 2017 Total lease expense (1) $ 16,238 $ 14,783 $ 13,674 _______________________________________ (1) Lease expense related to corporate assets is included in general and administrative expenses and lease expense related to ground leases is included within operating expenses in the Company’s consolidated statements of operations. Year Ended December 31, Supplemental Cash Flow Information: 2019 2018 2017 Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 12,727 11,655 $ 10,745 ROU asset obtained in exchange for new lease liability: Operating leases $ 5,733 $ — $ — Weighted Average Lease Term and Discount Rate: December 31, Weighted average remaining lease term (years): Operating leases 51 Weighted average discount rate: Operating leases 4.36 % The following table summarizes future minimum lease payments under non-cancelable ground and other operating leases included in the Company’s lease liability as of December 31, 2019 (in thousands): Year Amount 2020 $ 9,407 2021 9,208 2022 9,045 2023 8,985 2024 7,139 Thereafter 451,790 Undiscounted minimum lease payments included in the lease liability 495,574 Less: imputed interest (338,963 ) Present value of lease liability $ 156,611 The following table summarizes future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 (in thousands): Year Amount 2019 $ 5,597 2020 5,687 2021 5,776 2022 5,862 2023 5,983 Thereafter 466,130 $ 495,035 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases and DFLs, in certain situations, the Company owns and operates certain property, plant, and equipment for general corporate purposes. Corporate assets are recorded within other assets, net within the Company’s consolidated balance sheets and depreciation expense for those assets is recorded in general and administrative expenses in the Company’s consolidated statements of operations. Included within other assets, net as of December 31, 2019 and December 31, 2018 is $4 million and $2 million , respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the year ended December 31, 2019 , 2018 , and 2017 is $2 million , $4 million and $1 million

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Loans Receivable	Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2019 2018 Real Estate Secured Other Secured Total Real Estate Secured Other Secured Total Mezzanine $ — $ 27,752 $ 27,752 $ — $ 21,013 $ 21,013 Participating development loans and other (1) 161,964 — 161,964 42,037 — 42,037 Unamortized discounts, fees, and costs — 863 863 — (52 ) (52 ) $ 161,964 $ 28,615 $ 190,579 $ 42,037 $ 20,961 $ 62,998 _______________________________________ (1) At December 31, 2019 , the Company had $25 million remaining of commitments to fund $174 million of senior housing development projects. At December 31, 2018 , the Company had $73 million remaining of commitments to fund a $115 million senior housing development project. Loans Receivable Internal Ratings The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2019 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 161,964 85 $ 161,964 $ — $ — Other secured 28,615 15 28,615 — — $ 190,579 100 $ 190,579 $ — $ — Real Estate Secured Loans The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2019 (dollars in thousands): Final Maturity Date Number of Loans Payment Terms Principal Amount (1) Carrying Amount 2021 1 Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Texas $ 2,250 $ 2,250 2021 1 Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Florida 8,290 8,290 2022 1 Monthly interest-only payments, accrues interest at 6.5% and secured by a senior housing facility under development in Washington (2) 102,412 102,412 2022 1 Monthly interest-only payments, accrues interest at 5.75% and secured by a senior housing facility in Illinois 4,200 4,200 2026 1 Monthly interest-only payments, accrues interest at the greater of 2% or LIBOR, plus 4.25% and secured by a senior housing facility in Florida 44,812 44,812 5 $ 161,964 $ 161,964 _______________________________________ (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, 2019 , the Company recognized $6 million in interest income related to loans secured by real estate. SHOP Seller Financing In December 2019, the Company sold two SHOP facilities in Florida for $56 million and provided the buyer with initial financing of $45 million . The remainder of the sales price was received in cash at the time of sale. Additionally, the Company has agreed to provide up to $10 million of redevelopment funding ( 80% of the estimated cost of redevelopment), none of which has been funded as of December 31, 2019. The initial and redevelopment financings are secured by the buyer's equity ownership in the property. Four Seasons Health Care 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 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. During the year ended December 31, 2017, the Company recognized aggregate impairment charges of $144 million related to the Mezzanine Loan, which reduced the carrying value to $105 million as of December 31, 2017. The aggregate impairment charges were the result of a variety of factors, including, but not limited to, poor operating results of the underlying real estate assets, market and industry data that reflected a declining trend in admissions and a continuing shift away from higher-rate Medicare plans in the post-acute/skilled nursing sector, bids from prospective purchasers of the Mezzanine Loan, and eventually entering into an agreement with the borrower for a discounted repayment of the Mezzanine Loan. The calculations of the fair value were primarily based on an income approach and relied 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 were considered to be Level 2 measurements within the fair value hierarchy. In March 2018, the Company sold the Mezzanine Loan to a third party for approximately $112 million , which resulted 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. 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 and 2017 , the Company recognized interest income of zero and $23 million , respectively, and received cash payments of zero and $25 million , respectively, from 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 18 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 4).

Investments in and Advances to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2019
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) Property Count Ownership % 2019 2018 SWF SH JV (2) 19 54 $ 428,258 $ — CCRC JV (3) 15 49 325,830 365,764 U.K. JV (4) — 49 — 101,735 MBK JV 4 50 33,415 35,435 Other SHOP JVs (5) 5 41-90 26,876 25,493 Medical Office JVs (6) 3 20-67 9,845 10,160 K&Y JVs (7) 2 80 1,215 1,430 Advances to unconsolidated joint ventures, net 76 71 $ 825,515 $ 540,088 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) In December 2019, the Company formed the SWF SH JV with a sovereign wealth fund. See Note 4 for discussion of the formation of the SWF SH JV. (3) See Note 3 for discussion of the 2019 MTCA with Brookdale, including the pending acquisition of Brookdale’s interest in the CCRC JV. (4) See Note 4 for discussion of the formation of the U.K. JV in 2018 and subsequent sale of the Company’s equity method investment in 2019. (5) In June 2019, the Company acquired the outstanding equity interests in, and began consolidating, the Vintage Park JV (see Note 4). Remaining unconsolidated SHOP joint ventures (and the Company's ownership percentage) include: (i) Waldwick JV ( 85% ); (ii) Otay Ranch JV ( 90% ); (iii) MBK Development JV ( 50% ); (iv) Discovery Naples JV ( 41% ); and (v) Discovery Sarasota JV ( 47% ). The Company’s investments in the Discovery Naples JV and the Discovery Sarasota JV are preferred equity investments earning a 10% per annum fixed-rate return. (6) Includes three unconsolidated medical office joint ventures (and the Company’s ownership percentage): (i) Ventures IV ( 20% ); (ii) Ventures III ( 30% ); and (iii) Suburban Properties, LLC ( 67% ). (7) At December 31, 2019, includes one unconsolidated joint venture. In October 2019, the Company sold its interest in one of the K&Y joint ventures for $4 million . In January 2020, the Company sold its interest in the remaining K&Y joint venture for $12 million . At December 31, 2018 , includes three unconsolidated joint ventures. The following tables summarize combined financial information for the Company’s unconsolidated joint ventures (in thousands): December 31, 2019 2018 Real estate, net $ 2,278,743 $ 2,128,147 Other assets, net 511,014 479,935 Total assets $ 2,789,757 $ 2,608,082 Mortgage and other debt $ 552,824 $ 827,622 Accounts payable and other 591,498 655,177 Other partners’ capital 756,359 515,791 Healthpeak Properties, Inc.'s capital 889,076 609,492 Total liabilities and partners’ capital $ 2,789,757 $ 2,608,082 Year Ended December 31, 2019 2018 2017 Total revenues $ 523,684 $ 642,724 $ 810,216 Total operating expense (381,257 ) (492,784 ) (643,452 ) Net income (loss) (50,872 ) (43,704 ) (42,408 ) Healthpeak Properties, Inc.’s share in earnings (losses) (8,625 ) (2,594 ) 10,901 Fees earned by Healthpeak Properties, Inc. 169 125 133 Distributions received by Healthpeak Properties, Inc. 47,186 48,939 81,165 At December 31, 2019 and 2018 , the aggregate unamortized basis difference of the Company's investments in unconsolidated joint ventures of $64 million and $69 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. CCRC JV. During 2019, the CCRC JV classified one property that Brookdale and the Company committed to sell to a third-party as held for sale in the joint venture’s stand-alone financial statements. In conjunction with classifying the property as held for sale, the CCRC JV recognized an impairment charge of $12 million to reflect the write-down of the property’s previous carrying value to the estimated selling price, less costs to sell. The Company recognized its 49% share of the impairment charge ( $6 million ) through equity income (loss) from unconsolidated joint ventures during the year ended December 31, 2019 . Additionally, in October 2019, the Company agreed to acquire Brookdale’s 51% interest in 13 of the 15 communities held by the CCRC JV, which the Company completed in January 2020. Refer to Note 3 for a detailed discussion of the 2019 MTCA with Brookdale. U.K. JV. In December 2019, the Company sold its remaining 49% interest in the U.K. JV for proceeds of £70 million ( $91 million ) and recognized a loss on sale of $7 million (based on exchange rates at the time the transaction was completed), including $1 million of loss in accumulated other comprehensive income (loss) that was reclassified to gain (loss) on sale of real estate. As of December 31, 2019 , the Company no longer owned real estate in the U.K.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2019
Intangibles
Intangibles	Intangibles Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2019 2018 Gross intangible lease assets $ 615,538 $ 556,114 Accumulated depreciation and amortization (283,845 ) (251,035 ) Intangible assets, net $ 331,693 $ 305,079 Intangible liabilities primarily consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2019 2018 Gross intangible lease liabilities $ 113,213 $ 94,444 Accumulated depreciation and amortization (38,222 ) (39,781 ) Intangible liabilities, net $ 74,991 $ 54,663 The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands): Year Ended December 31, 2019 2018 2017 Depreciation and amortization expense related to amortization of lease-up intangibles $ 148,509 $ 67,350 $ 76,732 Rental and related revenues related to amortization of net below market lease liabilities 6,471 5,253 2,030 During the year ended December 31, 2019 , in conjunction with the Company’s acquisitions of real estate (see Note 4), the Company acquired intangible assets of $157 million and intangible liabilities of $33 million . The intangible assets and intangible liabilities acquired have a weighted average amortization period of 3 years and 8 years , respectively. On January 1, 2019, in conjunction with the adoption of ASU 2016-12 (see Note 2), the Company reclassified $39 million of intangible assets, net and $6 million of intangible liabilities, net related to above and below market ground leases to right-of-use asset, net. 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) Depreciation and Amortization (2) 2020 $ 8,876 $ 103,988 2021 8,034 51,516 2022 8,349 44,922 2023 7,783 39,020 2024 7,145 22,880 Thereafter 25,270 59,833 $ 65,457 $ 322,159 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related revenues. (2)

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt Bank Line of Credit and Term Loans On May 23, 2019, the Company executed a $2.5 billion unsecured revolving line of credit facility (the “Revolving Facility”), which matures on May 23, 2023 and contains two , six month extension options, subject to certain customary conditions. Borrowings under the Revolving Facility accrue interest at LIBOR plus a margin that depends on credit ratings of the Company's senior unsecured long-term debt. The Company pays a facility fee on the entire revolving commitment that depends on its credit ratings. Based on those credit ratings at December 31, 2019 , the margin on the Revolving Facility was 0.825% and the facility fee was 0.15% . In conjunction with the Company's exit from the U.K. in December 2019 (see Note 8), the Company paid down £55 million ( $72 million ) under the Revolving Facility. At December 31, 2019 , the Company had no balance outstanding under the Revolving Facility. In May 2019, the Company also entered into a new $250 million unsecured term loan facility, which the Company fully drew down on June 20, 2019 (the “2019 Term Loan” and, together with the Revolving Facility, the “Facilities”). The 2019 Term Loan matures on May 23, 2024. Based on the Company’s credit ratings at December 31, 2019 , the 2019 Term Loan accrues interest at a rate of LIBOR plus 0.90% , with a weighted average effective interest rate of 2.79% . The Facilities include 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. The Facilities also contain certain financial restrictions and other customary requirements, including cross-default provisions to other indebtedness. Among other things, these covenants, using terms defined in the agreements: (i) limit the ratio of Enterprise Total Indebtedness to Enterprise Gross Asset Value to 60% ; (ii) limit the ratio of Enterprise Secured Debt to Enterprise Gross Asset Value to 40% ; (iii) limit the ratio of Enterprise Unsecured Debt to Enterprise 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 $7.0 billion . At December 31, 2019 , the Company believes it was in compliance with each of these restrictions and requirements of the Facilities. On July 3, 2018, the Company exercised its one-time right under a previously-drawn term loan to repay the outstanding GBP balance and re-borrow in USD with all other key terms unchanged, which resulted in repayment of a £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 at December 31, 2018 . Commercial Paper Program In September 2019, the Company established an unsecured commercial paper program (the “Commercial Paper Program”). Under the terms of the Commercial Paper Program, the Company may issue, from time to time, unsecured short-term debt securities with varying maturities. Amounts available under the Commercial Paper Program may be borrowed, repaid, and re-borrowed from time to time, with the maximum aggregate face or principal amount outstanding at any one time not exceeding $1.0 billion . Amounts borrowed under the Commercial Paper Program will be sold on terms that are customary for the U.S. commercial paper market and will be at least equal in right of payment with all of the Company’s other unsecured and unsubordinated indebtedness. The Company intends to use its Revolving Facility as a liquidity backstop for the repayment of unsecured short term debt securities issued under the Commercial Paper Program. As of December 31, 2019 , the Company had $93 million of notes outstanding under the Commercial Paper Program, with original maturities of one month and a weighted average interest rate of 2.04% . Senior Unsecured Notes At December 31, 2019 , the Company had senior unsecured notes outstanding with an aggregate principal balance of $ 5.7 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, 2019 . The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2019 (dollars in thousands): Date Amount Coupon Rate Maturity Date November 21, 2019 $ 750,000 3.000 % 2030 July 5, 2019 $ 650,000 3.250 % 2026 July 5, 2019 $ 650,000 3.500 % 2029 There were no senior unsecured notes issuances for the years ended December 31, 2018 and 2017 . The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands): Date Amount Coupon Rate Maturity Date Year ended December 31, 2019: November 21, 2019 (1) $ 350,000 4.000 % 2022 July 22, 2019 (2) $ 800,000 2.625 % 2020 July 8, 2019 (2) $ 250,000 4.000 % 2022 July 8, 2019 (2) $ 250,000 4.250 % 2023 Year ended December 31, 2018: November 8, 2018 $ 450,000 3.750 % 2019 July 16, 2018 (3) $ 700,000 5.375 % 2021 Year ended December 31, 2017: July 27, 2017 (4) $ 500,000 5.375 % 2021 May 1, 2017 $ 250,000 5.625 % 2017 _______________________________________ (1) The Company recognized a $22 million loss on debt extinguishment related to the repurchase of senior notes. (2) Upon completing the redemption of the 2.625% senior unsecured notes due February 2020 and repurchasing a portion of the 4.250% senior unsecured notes due 2023 and the 4.000% senior unsecured notes due 2022, the Company recognized a $35 million loss on debt extinguishment. (3) The Company recognized a $44 million loss on debt extinguishment related to the repurchase of senior notes. (4) The Company recognized a $54 million loss on debt extinguishment related to the repurchase of senior notes. Mortgage Debt At December 31, 2019 , the Company had $264 million in aggregate principal of mortgage debt outstanding (excluding mortgage debt on assets held for sale), which is secured by 17 healthcare facilities with an aggregate carrying value of $511 million . Mortgage debt generally requires monthly principal and interest payments, is collateralized by real estate assets, and is generally non-recourse. Mortgage debt typically restricts transfer of the encumbered assets, prohibits additional liens, restricts prepayment, requires payment of real estate taxes, requires maintenance of the assets in good condition, requires insurance on the assets, and includes conditions to obtain lender consent to enter into or terminate material leases. Some of the mortgage debt may require tenants or operators to maintain compliance with the applicable leases or operating agreements of such real estate assets. In May 2019, upon acquiring three senior housing assets from Oakmont, the Company assumed $50 million of secured mortgage debt maturing in 2028 and having a weighted average interest rate of 4.83% . In July 2019, upon acquiring five senior housing assets from Oakmont, the Company assumed an additional $112 million of secured mortgage debt with maturity dates ranging from 2027 to 2033 and a weighted average interest rate of 4.89% (see Note 4). Debt Ma t urities The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2019 (dollars in thousands): Senior Unsecured Notes (1) Mortgage Debt (2) Year Bank Line of Credit Commercial Paper Term Loan Amount Interest Rate Amount Interest Rate Total (3) 2020 $ — $ 93,000 $ — $ — — % $ 4,132 5.08 % $ 97,132 2021 — — — — — % 11,821 5.26 % 11,821 2022 — — — 300,000 3.37 % 3,886 — % 303,886 2023 — — — 550,000 4.37 % 4,069 — % 554,069 2024 — — 250,000 1,150,000 4.17 % 4,247 — % 1,404,247 Thereafter — — — 3,700,000 3.86 % 236,089 4.09 % 3,936,089 — 93,000 250,000 5,700,000 264,244 6,307,244 (Discounts), premium and debt costs, net — — (1,058 ) (52,007 ) 12,663 (40,402 ) — 93,000 248,942 5,647,993 276,907 6,266,842 Debt on assets held for sale (4) — — — — 32,289 32,289 $ — $ 93,000 $ 248,942 $ 5,647,993 $ 309,196 $ 6,299,131 _______________________________________ (1) Effective interest rates on the senior notes range from 3.14% to 6.87% with a weighted average effective interest rate of 3.94% and a weighted average maturity of seven years . (2) Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt range from 2.22% to 5.91% with a weighted average effective interest rate of 4.09% and a weighted average maturity of 13 years . (3) Excludes $85 million of other debt that has no scheduled maturities. Other debt represents (i) $52 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% . (4) Represents mortgage debt on assets held for sale with interest rates that ranged from 3.45% to 6.80% and matures in 2026, 2028, and 2044.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
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. On November 22, 2019, the Court granted the motion to dismiss. On December 20, 2019, Co-Lead plaintiffs filed a motion to amend the Court's judgment. Defendants' opposition brief is due on February 18, 2020, and Co-Lead Plaintiffs' reply brief is due on March 19, 2020. 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, 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. One of the law firms has more recently requested that the Board of Directors reconsider its determination after a final ruling on the motion to dismiss in the class action litigation. 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, 2019 , 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 2039 on a total of 27 properties. Commitments The following table summarizes the Company’s material commitments, excluding debt service obligations (see Note 10) and obligations as the lessee under operating leases (see Note 6), at December 31, 2019 (in thousands): Amount Construction loan commitments (1) $ 25,050 Lease and other contractual commitments (2) 123,957 Development commitments (3) 237,295 Total $ 386,302 _______________________________________ (1) Represents commitments to finance development projects. (2) Represents the Company's commitments, as lessor, under signed leases and contracts for operating properties and includes allowances for tenant improvements and leasing commissions. Excludes allowances for tenant improvements related to developments in progress for which the Company has executed an agreement with a general contractor to complete the tenant improvements (recognized in the "Development commitments" line). (3) Represents construction and other commitments for developments in progress and includes allowances for tenant improvements of $88 million that the Company has provided as a lessor. Credit Enhancement Guarantee At December 31, 2019 , certain of the Company’s senior housing facilities serve as collateral for $64 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 were converted to a RIDEA structure during the first quarter of 2019 (see Note 6), had a carrying value of $334 million as of December 31, 2019 . 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, 2019
Equity [Abstract]
Equity	Equity Dividends On January 30, 2020 , 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, 2020 to stockholders of record as of the close of business on February 18, 2020 . During the years ended December 31, 2019 , 2018 , and 2017 , the Company declared and paid common stock cash dividends of $1.480 per share. At-The-Market Equity Offering Program In June 2015, the Company established an at-the-market equity offering program (“ATM Program”) to sell shares of its common stock from time to time through a consortium of banks acting as sales agents or directly to the banks acting as principals. In May 2018, the Company renewed its ATM Program (the "2018 ATM Program"). 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 per share, resulting in net proceeds of $154 million . In February 2019, the Company terminated the 2018 ATM Program and established a new ATM Program (the “2019 ATM Program”) pursuant to which shares of common stock having an aggregate gross sales price of up to $1.0 billion may be sold (i) by the Company through a consortium of banks acting as sales agents or directly to the banks acting as principals or (ii) by a consortium of banks acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. The use of a forward sale agreement allows the Company to lock in a share price on the sale of shares at the time the agreement is effective, but defer receiving the proceeds from the sale of shares until a later date. ATM Direct Issuances During the year ended December 31, 2019 , the Company issued 5.9 million shares of common stock at a weighted average net price of $31.84 per share, after commissions, resulting in net proceeds of $189 million . ATM Forward Contracts During the year ended December 31, 2019 , the Company utilized the forward provisions under the 2019 ATM Program to allow for the sale of up to an aggregate of 20.3 million shares of its common stock, at an initial weighted average net price of $31.44 per share, after commissions. During the year ended December 31, 2019 , the Company settled 5.5 million shares at a weighted average net price of $30.91 per share, after commissions, resulting in net proceeds of $171 million . At December 31, 2019 , 14.8 million shares remained outstanding under forward contracts under the 2019 ATM Program, with an initial weighted average net price of $31.56 per share, after commissions. At December 31, 2019 , approximately $163 million of the Company’s common stock remained available for sale under the 2019 ATM Program. Subsequent to December 31, 2019, the Company utilized the forward provisions under the 2019 ATM Program to allow for the sale of up to an additional 2.0 million shares of its common stock, at an initial weighted average net price of $35.23 per share, after commissions. Each forward sale has a one year term. At any time during the term, the Company may settle the forward sale by delivery of physical shares of common stock to the forward seller or, at the Company’s election, in cash or net shares. The forward sale price that the Company expects to receive upon settlement of outstanding forward contracts will be the initial forward price established upon the effective date, subject to adjustments for: (i) accrued interest, (ii) the forward purchasers’ stock borrowing costs, and (iii) certain fixed price reductions during the term of the agreement. Forward Equity Offerings November 2019 Offering. In November 2019, the Company entered into a forward equity sales agreement (the "2019 forward equity sales agreement") to sell an aggregate of 15.6 million shares of its common stock (including shares sold through the exercise of underwriters’ options) at an initial net price of $34.46 per share, after underwriting discounts and commissions. The 2019 forward equity sales agreement has a one year term that expires on November 4, 2020 during which time the Company may settle the 2019 forward equity sales agreement by delivery of physical shares of common stock to the forward seller or, at the Company's election, by settling in cash or net shares. The forward sale price that the Company expects to receive upon settlement of the 2019 forward equity sales agreement will be the initial net price of $34.46 per share, subject to adjustments for: (i) accrued interest, (ii) the forward purchasers’ stock borrowing costs, and (iii) certain fixed price reductions during the term of the agreement. During the year ended December 31, 2019 , no shares were settled under the 2019 forward equity sales agreement. Therefore, at December 31, 2019 , all shares remained outstanding under the 2019 forward equity sales agreement . December 2018 Offering. In December 2018, the Company entered into a forward equity sales agreement (the "2018 forward equity sales agreement") to sell an aggregate of 15.3 million shares of its common stock (including shares sold through the exercise of underwriters’ options) at an initial net price of $28.60 per share, after underwriting discounts and commissions. Contemporaneously, the 2018 forward equity sales agreement had a one year term that expired on December 13, 2019 during which time the Company could settle the forward sales agreement by delivery of physical shares of common stock to the forward seller or, at the Company's election, settle in cash or net shares. During the year ended December 31, 2019 , the Company settled all 15.3 million shares under the 2018 forward equity sales agreement at a weighted average net price of $27.66 per share resulting in net proceeds of $422 million . Therefore, at December 31, 2019 , no shares remained outstanding under the 2018 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, 2019 2018 2017 Dividend Reinvestment and Stock Purchase Plan 336 237 983 Conversion of DownREIT units 213 3 78 Exercise of stock options 152 120 32 Vesting of restricted stock units 468 401 419 Repurchase of common stock 162 141 157 Accumulated Other Comprehensive Loss The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2019 2018 Cumulative foreign currency translation adjustment (1) $ (1,023 ) $ (1,683 ) Unrealized gains (losses) on derivatives, net 1,314 (467 ) Supplemental Executive Retirement plan minimum liability and other (3,148 ) (2,558 ) Total accumulated other comprehensive income (loss) $ (2,857 ) $ (4,708 ) _______________________________________ (1) See Notes 4, 8, and 21 for a discussion of the U.K. JV transaction. Noncontrolling Interests At December 31, 2019 , there were five million DownREIT units ( seven million shares of Healthpeak common stock are issuable upon conversion) outstanding in seven DownREIT LLCs, all of which the Company is the managing member of. At December 31, 2019 , the carrying and market values of the five million DownREIT units were $204 million and $257 million , respectively. See Notes 3 and 4 for transactions involving noncontrolling interests.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic income (loss) per common share ("EPS") is computed based on the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed based on the weighted average number of common shares outstanding plus the impact of forward equity sales agreements using the treasury stock method and 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 the Company's 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. During the year ended December 31, 2019 , the Company utilized the forward sale provisions under the 2019 ATM Program to sell up to an aggregate of 20.3 million shares of common stock with a one year term. During the year ended December 31, 2019 , the Company settled 5.5 million shares under forward contracts under the 2019 ATM Program, leaving 14.8 million shares outstanding thereunder. Additionally, in November 2019, the Company entered into the 2019 forward equity sales agreement to sell an aggregate of 15.6 million shares of its common stock by November 4, 2020. At December 31, 2019 , all 15.6 million shares remained outstanding thereunder. Additionally, in December 2018, the Company entered into forward equity sales agreement to sell an aggregate of 15.3 million shares of its common stock by December 13, 2019. During the year ended December 31, 2019 , the Company settled all 15.3 million shares under the December 2018 forward sales agreement. The Company expects to settle the remaining forward sales with shares of common stock prior to their respective expiration dates. See Note 12 for further details. The Company considered the potential dilution resulting from the forward agreements to the calculation of earnings per share. At inception, the agreements do 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, if any, resulting from the forward sales agreements during the period of time prior to settlement. The aggregate effect on the Company’s diluted weighted-average common shares for the year ended December 31, 2019 , was 2.8 million weighted-average incremental shares from the forward equity sales agreements. The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts): Year Ended December 31, 2019 2018 2017 Numerator Net income (loss) $ 60,061 $ 1,073,474 $ 422,634 Noncontrolling interests' share in earnings (14,531 ) (12,381 ) (8,465 ) Net income (loss) attributable to Healthpeak Properties, Inc. 45,530 1,061,093 414,169 Less: Participating securities' share in earnings (1,543 ) (2,669 ) (1,156 ) Net income (loss) applicable to common shares $ 43,987 $ 1,058,424 $ 413,013 Numerator - Dilutive Net income (loss) applicable to common shares $ 43,987 $ 1,058,424 $ 413,013 Add: distributions on dilutive convertible units and other — 6,919 — Dilutive net income (loss) available to common shares $ 43,987 $ 1,065,343 $ 413,013 Denominator Basic weighted average shares outstanding 486,255 470,551 468,759 Dilutive potential common shares - equity awards 309 168 176 Dilutive potential common shares - forward equity agreements (1) 2,771 — — Dilutive potential common shares - DownREIT conversions — 4,668 — Diluted weighted average common shares 489,335 475,387 468,935 Earnings per common share Basic $ 0.09 $ 2.25 $ 0.88 Diluted $ 0.09 $ 2.24 $ 0.88 (1) Represents the current dilutive impact of 30 million shares of common stock under forward sales agreements that have not been settled as of December 31, 2019 . Based on the forward price of each agreement as of December 31, 2019 , issuance of all 30 million shares would result in approximately $1.00 billion of net proceeds. For the years ended December 31, 2019 , 2018 , and 2017 , 7 million , 2 million , and 7 million shares, respectively, issuable upon conversion of DownREIT units were not included because they are anti-dilutive. Additionally, for the years ended December 31, 2019 and 2018 , 28 million and 15 million shares of common stock, respectively, issuable pursuant to the settlement of forward equity sales agreements were not included because they are anti-dilutive (see discussion above). For all periods presented in the above table, approximately 1 million shares of common stock subject to outstanding equity awards (restricted stock units and stock options) were not included because they are anti-dilutive.

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [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, 2019 , 28 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, 2019 , 2018 , and 2017 was $18 million , $15 million , and $14 million , respectively. The year ended December 31, 2019 includes a $1 million charge recognized in general and administrative expenses primarily resulting from accelerated vesting of restricted stock units related to the departure of the Company's former Executive Vice President – Senior Housing. The year ended December 31, 2018 includes a $2 million charge recognized in general and administrative expenses primarily resulting from accelerated vesting of restricted stock units related to the departure of the Company's Executive Chairman. 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. As of December 31, 2019 , 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. Stock Options There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 0.6 million at December 31, 2019 and 0.8 million at December 31, 2018 . Proceeds received from stock options exercised under the Plans for the years ended December 31, 2019 , 2018 , and 2017 were $5 million , $2 million , and $1 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, 2019 , 2018 , and 2017 , the Company withheld 162,000 , 141,000 , and 157,000 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, 2019 (units in thousands): Restricted Stock Units Weighted Average Grant Date Fair Value Unvested at January 1, 2019 1,698 $ 27.13 Granted 652 32.33 Vested (468 ) 27.52 Forfeited (182 ) 31.37 Unvested at December 31, 2019 1,700 28.56 At December 31, 2019 , 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, 2019 , 2018 , and 2017 was $14 million , $10 million , and $15 million , respectively.

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2019
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 unconsolidated joint ventures, hospital properties, and debt investments. The accounting policies of the segments are the same as those described under Summary of Significant Accounting Policies (see Note 2). During the first quarter of 2019, as a result of a change in how operating results are reported to the chief operating decision makers for the purpose of evaluating performance and allocating resources, the Company reclassified operating results related to two facilities from its other non-reportable segment to its medical office segment. Accordingly, all prior period segment information has been recast to conform to current period presentation. During the years ended December 31, 2019 , 2018 , and 2017 , 41 , 22 , and 25 senior housing triple-net facilities, respectively, were transferred to the Company’s SHOP segment as a result of terminating the triple-net leases and transitioning the assets to a RIDEA structure. 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 on: property NOI and 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, 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) from unconsolidated joint ventures, which is recognized as 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 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 real estate assets and liabilities held for sale. See Note 19 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, 2019 : Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 199,441 $ 725,171 $ 440,784 $ 571,530 $ 50,613 $ — $ 1,987,539 Operating expenses (4,565 ) (565,713 ) (107,472 ) (201,538 ) (82 ) — (879,370 ) NOI 194,876 159,458 333,312 369,992 50,531 — 1,108,169 Adjustments to NOI (2) 2,725 2,872 (22,120 ) (5,877 ) 1,342 — (21,058 ) Adjusted NOI 197,601 162,330 311,192 364,115 51,873 — 1,087,111 Addback adjustments (2,725 ) (2,872 ) 22,120 5,877 (1,342 ) — 21,058 Interest income — — — — 9,844 — 9,844 Interest expense (1,003 ) (7,519 ) (277 ) (434 ) — (216,386 ) (225,619 ) Depreciation and amortization (55,361 ) (214,590 ) (168,339 ) (214,669 ) (7,030 ) — (659,989 ) General and administrative — — — — — (92,966 ) (92,966 ) Transaction costs — — — — — (8,743 ) (8,743 ) Recoveries (impairments), net (43,859 ) (164,369 ) — (17,332 ) (377 ) — (225,937 ) Gain (loss) on sales of real estate, net 3,557 19,384 3,651 3,139 (6,831 ) — 22,900 Loss on debt extinguishment — — — — — (58,364 ) (58,364 ) Other income (expense), net — 160,886 — — 8,137 13,106 182,129 Income tax benefit (expense) — — — — — 17,262 17,262 Equity income (loss) from unconsolidated joint ventures — — — — (8,625 ) — (8,625 ) Net income (loss) $ 98,210 $ (46,750 ) $ 168,347 $ 140,696 $ 45,649 $ (346,091 ) $ 60,061 _______________________________________ (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, 2018 : 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 $ 547,375 $ 69,777 $ — $ 1,836,283 Operating expenses (3,618 ) (414,312 ) (91,742 ) (195,100 ) (266 ) — (705,038 ) NOI 272,473 133,664 303,322 352,275 69,511 — 1,131,245 Adjustments to NOI (2) 2,127 2,875 (9,589 ) (6,690 ) (627 ) — (11,904 ) Adjusted NOI 274,600 136,539 293,733 345,585 68,884 — 1,119,341 Addback adjustments (2,127 ) (2,875 ) 9,589 6,690 627 — 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 ) (200,430 ) (24,579 ) — (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 $ 155,799 $ 78,357 $ (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 : 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 $ 512,385 $ 81,920 $ — $ 1,792,141 Operating expenses (3,819 ) (396,491 ) (78,001 ) (187,688 ) (252 ) — (666,251 ) NOI 309,728 128,982 280,815 324,697 81,668 — 1,125,890 Adjustments to NOI (2) 17,098 33,227 (4,517 ) (5,405 ) (1,993 ) — 38,410 Adjusted NOI 326,826 162,209 276,298 319,292 79,675 — 1,164,300 Addback adjustments (17,098 ) (33,227 ) 4,517 5,405 1,993 — (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 ) (176,507 ) (22,373 ) — (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 Discontinued operations — — — — — — — Net income (loss) $ 461,149 $ 35,385 $ 197,494 $ 156,779 $ 33,100 $ (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. The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2019 2018 2017 Senior housing triple-net $ 199,441 $ 276,091 $ 313,547 SHOP 725,171 547,976 525,473 Life science 440,784 395,064 358,816 Medical office 571,530 547,375 512,385 Other non-reportable segments 60,457 80,183 138,157 Total revenues $ 1,997,383 $ 1,846,689 $ 1,848,378 The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segment 2019 2018 Senior housing triple-net $ 1,012,443 $ 2,965,679 SHOP 2,969,871 2,173,795 Life science 5,688,659 4,303,471 Medical office 4,761,357 4,603,794 Reportable segment assets 14,432,330 14,046,739 Accumulated depreciation and amortization (2,966,987 ) (2,997,012 ) Net reportable segment assets 11,465,343 11,049,727 Other non-reportable segment assets 1,233,752 847,921 Assets held for sale, net 504,394 108,086 Other non-segment assets 829,402 712,819 Total assets $ 14,032,891 $ 12,718,553 See Notes 3 and 4 for significant transactions impacting the Company's segment assets during the periods presented. The Company completed the required annual goodwill impairment test during the fourth quarter of 2019 , 2018 , and 2017 , and no impairment was recognized. At December 31, 2019 goodwill of $47 million was allocated to segment assets as follows: (i) senior housing triple-net— $14 million , (ii) SHOP— $16 million , (iii) medical office— $13 million , and (iv) other— $4 million . At December 31, 2018 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 . During the year ended December 31, 2019 , as a result of transferring 41 senior housing triple-net facilities to the Company’s SHOP segment and two facilities from its other non-reportable segments to its medical office segment, the Company reallocated $7 million of goodwill from the senior housing triple-net segment to the SHOP segment and $2 million

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 2017 Ordinary dividends (1) $ 0.7633 $ 0.9578 $ 1.4800 Capital gains 0.2714 0.5222 — Nondividend distributions 0.4453 — — $ 1.4800 $ 1.4800 $ 1.4800 _______________________________________ (1) For the year ended December 31, 2019 all $0.7633 of ordinary dividends qualified as business income for purposes of Code Section 199A. For the year ended December 31, 2018 the amount includes $0.9414 of qualified business income for purposes of Code Section 199A and $0.0164 of qualified dividend income for purposes of Code Section 1(h)(11). The TRS entities subject to tax reported losses before income taxes from continuing operations of $100 million , $59 million , and $58 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The REIT’s losses from continuing operations before income taxes from the U.K. prior to deconsolidation in June 2018 were $11 million and $4 million for the years ended December 31, 2018 and 2017 , respectively. The total income tax expense (benefit) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2019 2018 2017 Current Federal $ 261 $ (568 ) $ 949 State 729 4,003 1,504 Foreign — 84 1,737 Total current $ 990 $ 3,519 $ 4,190 Deferred Federal $ (16,061 ) $ (11,905 ) $ 2,730 State (2,191 ) (4,589 ) (5,889 ) Foreign — (4,879 ) (2,364 ) Total deferred $ (18,252 ) $ (21,373 ) $ (5,523 ) Total income tax expense (benefit) $ (17,262 ) $ (17,854 ) $ (1,333 ) 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 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, 2019 2018 2017 Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax $ (20,923 ) $ (17,857 ) $ (21,085 ) State income tax expense, net of federal tax (3,845 ) (1,313 ) (1,222 ) Gross receipts and margin taxes 1,430 1,580 1,716 Foreign rate differential — 301 632 Effect of permanent differences 20 (34 ) 6 Return to provision adjustments 157 (278 ) 1,597 Remeasurement of deferred tax assets and liabilities — — 17,080 Increase (decrease) in valuation allowance 4,583 (253 ) (57 ) Change in tax status of TRS 1,316 — — Total income tax expense (benefit) $ (17,262 ) $ (17,854 ) $ (1,333 ) 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, 2019 2018 2017 Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs $ 40,466 $ 31,034 $ 31,691 Net operating loss carryforward 33,771 20,559 10,720 Expense accruals and other 3,258 2,424 229 Valuation allowance (4,878 ) (295 ) (548 ) Net deferred tax assets $ 72,617 $ 53,722 $ 42,092 Deferred tax assets and liabilities are included in other assets, net and accounts payable and accrued liabilities, respectively. At December 31, 2019 the Company had a net operating loss (“NOL”) carryforward of $134 million related to the TRS entities. This amount can be used to offset future taxable income, if any. If unused, $22 million will begin to expire in 2035. The remainder, totaling $112 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 following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2019 2018 2017 Total unrecognized tax benefits at January 1 $ — $ — $ — Gross amount of increases for prior years' tax positions 469 — — Total unrecognized tax benefits at December 31 $ 469 $ — $ — The Company had unrecognized tax benefits of $0.5 million at December 31, 2019, that, if recognized, would reduce the annual effective tax rate. The Company accrued no interest or penalties related to the unrecognized tax benefits during 2019. The Company does not expect the unrecognized tax benefits to increase or decrease materially in 2020. 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 2016. For the years ended December 31, 2019 , 2018 , and 2017 the tax basis of the Company’s net assets was less than the reported amounts by $1.2 billion , $1.4 billion , and $1.7 billion

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table provides supplemental cash flow information (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental cash flow information: Interest paid, net of capitalized interest $ 201,784 $ 275,690 $ 309,111 Income taxes paid (refunded) 1,426 4,480 10,045 Capitalized interest 30,459 21,056 16,937 Supplemental schedule of non-cash investing and financing activities: Accrued construction costs 126,006 88,826 67,425 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 5,614 537 2,908 Net noncash impact from the consolidation of previously unconsolidated joint ventures 17,850 68,293 — Deconsolidation of noncontrolling interest in connection with RIDEA II transaction — — 58,061 Liabilities assumed with real estate acquisitions 172,565 8,457 5,425 Conversion of DFLs to real estate 350,540 — — Retained investment in connection with SWF SH JV 427,328 — — Seller financing provided on disposition of real estate asset 44,812 — — See discussions related to: (i) the Brookdale Transactions in Note 3, (ii) the U.K. JV transaction in Notes 4 and 8, (iii) the U.K. Bridge Loan in Notes 6 and 18, (iv) the conversion of DFLs to real estate in Note 6, and (v) the consolidation of previously unconsolidated joint ventures in Note 4. The following table summarizes cash, cash equivalents, and restricted cash (in thousands): December 31, 2019 2018 Cash and cash equivalents $ 144,232 $ 110,790 Restricted cash 40,425 29,056 Cash, cash equivalents and restricted cash $ 184,657 $ 139,846

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2019
Variable Interest Entities
Variable Interest Entities	Variable Interest Entities Unconsolidated Variable Interest Entities At December 31, 2019 , the Company had investments in: (i) two properties leased to VIE tenants, (ii) five unconsolidated VIE joint ventures, (iii) marketable debt securities of one VIE, and (iv) one loan to a VIE borrower. The Company determined 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, the development investment, Waldwick JV, and the LLC investment discussed below), it has no formal involvement in these VIEs beyond its investments. VIE Tenants. The Company leases two properties to a total of one tenant 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. CCRC OpCo. 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, capital expenditures, accounts payable, and expense accruals. 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). Refer to Note 3 for a discussion around the impact of the 2019 MTCA on the Company's VIE and consolidation conclusions related to the CCRC JV. Waldwick Development JV. The Company holds an 85% ownership interest in a development joint venture (the "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 contractual obligations (primarily development expenses and debt service payments). LLC Investment. 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). Development Investments. The Company holds investments (consisting of mezzanine debt and/or preferred equity) in two senior housing development joint ventures. The joint ventures are also capitalized by senior loans from a third party and equity from the third party managing-member, but are considered to be “thinly capitalized” as there is insufficient equity investment at risk. Debt Securities Investment. 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. Seller Financing Loan. 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 the maximum loss exposure as a result of the Company’s involvement with these VIEs at December 31, 2019 was as follows (in thousands): VIE Type Asset/Liability Type Maximum Loss Exposure and Carrying Amount (1) VIE tenants - operating leases (2) Lease intangibles, net and straight-line rent receivables 497 CCRC OpCo Investments in unconsolidated joint ventures 164,271 Unconsolidated development joint ventures Loans receivable, net and Investments in unconsolidated joint ventures 24,171 Loan - seller financing Loans receivable, net 9,875 CMBS and LLC investment Marketable debt and LLC investment 34,854 _______________________________________ (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, 2019 , 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, 5, 6, and 7 for additional descriptions of the nature, purpose, and operating activities of the Company’s unconsolidated VIEs and interests therein. Consolidated Variable Interest Entities The Company's consolidated total assets and total liabilities at December 31, 2019 and December 31, 2018 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 the Company. Total assets and total liabilities include VIE assets and liabilities as follows (in thousands): December 31, 2019 2018 Assets Buildings and improvements $ 3,236,105 $ 1,949,582 Development costs and construction in progress 67,285 39,584 Land 526,576 151,746 Accumulated depreciation and amortization (568,574 ) (398,143 ) Net real estate 3,261,392 1,742,769 Investments in and advances to unconsolidated joint ventures — 1,550 Accounts receivable, net 11,986 7,904 Cash and cash equivalents 47,027 23,772 Restricted cash 13,596 3,399 Intangible assets, net 206,840 111,333 Right-of-use asset, net 92,664 — Other assets, net 52,124 43,149 Total assets $ 3,685,629 $ 1,933,876 Liabilities Mortgage debt $ 218,767 $ 44,598 Other debt 42,405 — Intangible liabilities, net 39,545 19,128 Lease liability 90,875 — Accounts payable and accrued liabilities 80,427 66,736 Deferred revenue 96,985 24,215 Total liabilities $ 569,004 $ 154,677 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 (“Ventures V”). The Company classifies Ventures V as a VIE due to the non-managing member lacking substantive participation rights in the management of Ventures V or kick-out rights over the managing member. The Company consolidates 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 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 Ventures V may only be used to settle its contractual obligations (primarily from capital expenditures). 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). Life Science JVs . The Company holds a 99% ownership interest in multiple joint venture entities that own and lease life science assets (the "Life Science JVs"). The Life Science JVs are VIEs as the members share in control of the entities, but substantially all of the activities are performed on behalf of the Company. The Company consolidates the Life Science JVs 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 Life Science JVs 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 Life Science JVs may only be used to settle their contractual obligations (primarily from capital expenditures). MSREI MOB 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 two senior housing properties to a lessee entity under a cash flow lease through which the Company receives monthly rent equal to the residual cash flows of the property. The lessee entity is classified as a VIEs as it is a "thinly capitalized" entity. The Company consolidates the lessee entity as it has the ability to control the activities that most significantly impact the economic performance of the lessee entity. The lessee entity's assets primarily consist of leasehold interests in a senior housing facility (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 facility (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 seven 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. Exchange Accommodation Titleholder . During the year ended December 31, 2019 , the Company acquired a life science facility (the "acquired property") using a reverse like-kind exchange structure pursuant to Section 1031 of the Code (a "reverse 1031 exchange"). As of December 31, 2019 , the Company had not completed the reverse 1031 exchange and as such, the acquired property remained in the possession of an Exchange Accommodation Titleholder ("EAT"). The EAT is classified as a VIE as it is a “thinly capitalized” entity. The Company consolidates the EAT because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the EAT's economic performance. The property held by the EAT is reflected as real estate with a carrying value of $323 million as of December 31, 2019 . The assets of the EAT primarily consist of a leased property (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the property. Assets generated by the EAT may only be used to settle its contractual obligations (primarily from capital expenditures). 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 was recognized within other income (expense), net and the tax benefit was 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 4). In December 2019, the Company sold its remaining interest in the U.K. JV (see Note 8).

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2019
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. 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 2019 2018 2019 2018 2017 California 37 34 28 26 26 Texas 12 16 17 18 17

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
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 in the consolidated balance sheets are immaterial at December 31, 2019 . The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2019 (3) 2018 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 190,579 $ 190,579 $ 62,998 $ 62,998 Marketable debt securities (2) 19,756 19,756 19,202 19,202 Bank line of credit and commercial paper (2) 93,000 93,000 80,103 80,103 Term loan (2) 248,942 248,942 — — Senior unsecured notes (1) 5,647,993 6,076,150 5,258,550 5,302,485 Mortgage debt (2) 276,907 280,373 138,470 136,161 Other debt (2) 84,771 84,771 90,785 90,785 Interest-rate swap liabilities (2) 553 553 1,310 1,310 _______________________________________ (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) 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, commercial paper, 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, 2019 and 2018 , there were no material transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The following table summarizes the Company’s outstanding swap contracts as of December 31, 2019 (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 $ 42,000 3.820% BMA Swap Index $ (553 ) _____________________________ (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. Concurrent with the sale of its remaining interest in the U.K. JV (see Note 8), the Company paid-off the remainder of its GBP-denominated borrowings under the Revolving Facility and terminated its previously-designated net investment hedge.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (in thousands, except per share amounts): Three Months Ended 2019 March 31 June 30 September 30 December 31 Total revenues $ 436,154 $ 491,567 $ 537,971 $ 531,691 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 62,395 (10,338 ) (40,926 ) 40,293 Net income (loss) 64,990 (9,980 ) (42,308 ) 47,359 Net income (loss) applicable to Healthpeak Properties, Inc. 61,470 (13,597 ) (45,863 ) 43,520 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.13 (0.03 ) (0.09 ) 0.09 Diluted earnings per common share 0.13 (0.03 ) (0.09 ) 0.09 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 (loss) income 43,237 92,928 102,926 834,383 Net (loss) income applicable to Healthpeak Properties, 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

Schedule II_ Valuation and Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II: Valuation and Qualifying Accounts	Valuation and Qualifying Accounts (Dollars in thousands) 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 2019 (2) $ 2,401 $ 1,549 $ 1,315 $ — $ (700 ) $ 4,565 2018 169,374 4,105 — (1,887 ) (143,795 ) 27,797 2017 29,518 144,135 — (2,732 ) (1,547 ) 169,374 _______________________________________ (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). (2) In conjunction with adopting ASU 2016-02 (see Note 2 to the Consolidated Financial Statements) on January 1, 2019, the Company wrote-off certain previously reserved tenant receivables (accounts receivable and straight-line rent receivable) through a cumulative effect adjustment to equity. These amounts are included in the end of year balance for 2018, but removed from the beginning of the year balance for 2019.

Schedule III_ Real Estate and A

Schedule III: Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
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 (Dollars in thousands) Encumbrances at December 31, 2019 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 $ 393 $ 307 $ 5,846 $ 6,153 $ (1,820 ) 2006 0786 Douglas AZ — 110 703 — 110 703 813 (405 ) 2005 0518 Tucson AZ — 2,350 24,037 — 2,350 24,037 26,387 (13,020 ) 2002 0851 Citrus Heights CA — 1,180 8,367 — 1,180 8,037 9,217 (3,638 ) 2006 0787 Dana Point CA — 1,960 15,946 — 1,960 15,466 17,426 (5,574 ) 2005 0791 Fremont CA — 2,360 11,672 — 2,360 11,192 13,552 (4,034 ) 2005 0788 Granada Hills CA — 2,200 18,257 — 2,200 17,637 19,837 (6,357 ) 2005 0226 Murrieta CA — 435 5,729 — 435 5,729 6,164 (3,421 ) 1997 1165 Northridge CA — 6,718 26,309 2,820 6,752 27,889 34,641 (10,049 ) 2006 0789 Pleasant Hill CA 6,270 2,480 21,333 — 2,480 20,633 23,113 (7,437 ) 2005 0793 South San Francisco CA — 3,000 16,586 — 3,000 16,056 19,056 (5,782 ) 2005 0792 Ventura CA — 2,030 17,379 — 2,030 16,749 18,779 (6,037 ) 2005 0852 Boca Raton FL — 4,730 17,532 5,471 4,730 22,391 27,121 (9,179 ) 2006 2467 Ft Myers FL — 2,782 21,827 — 2,782 21,827 24,609 (3,223 ) 2016 1095 Gainesville FL — 1,221 12,226 175 1,221 12,176 13,397 (3,981 ) 2006 0490 Jacksonville FL — 3,250 25,936 6,170 3,250 32,106 35,356 (14,803 ) 2002 1096 Jacksonville FL — 1,587 15,616 176 1,587 15,474 17,061 (5,073 ) 2006 1017 Palm Harbor FL — 1,462 16,774 954 1,462 17,342 18,804 (5,726 ) 2006 1097 Tallahassee FL — 1,331 19,039 255 1,331 18,950 20,281 (6,202 ) 2006 1605 Vero Beach FL — 700 16,234 66 700 15,550 16,250 (3,984 ) 2010 1257 Vero Beach FL — 2,035 34,993 762 2,035 34,195 36,230 (11,154 ) 2006 1162 Orland Park IL — 2,623 23,154 1,732 2,623 24,111 26,734 (8,346 ) 2006 0546 Cape Elizabeth ME — 630 3,524 93 630 3,617 4,247 (1,519 ) 2003 0545 Saco ME — 80 2,363 155 80 2,518 2,598 (1,054 ) 2003 0853 St. Louis MO — 2,500 20,343 — 2,500 19,853 22,353 (8,989 ) 2006 0734 Hillsborough NJ — 1,042 10,042 796 1,042 10,372 11,414 (3,871 ) 2005 0796 Las Vegas NV — 1,960 5,816 — 1,960 5,426 7,386 (1,956 ) 2005 1252 Brooklyn NY — 8,117 23,627 1,413 8,117 23,773 31,890 (7,886 ) 2006 1256 Brooklyn NY — 5,215 39,052 1,593 5,215 39,535 44,750 (13,318 ) 2006 2089 Newberg OR — 1,889 16,855 874 1,889 17,729 19,618 (3,626 ) 2012 2050 Redmond OR — 1,229 21,921 844 1,229 22,765 23,994 (4,260 ) 2012 2084 Roseburg OR — 1,042 12,090 145 1,042 12,235 13,277 (2,693 ) 2012 2134 Scappoose OR — 353 1,258 17 353 1,275 1,628 (370 ) 2012 2153 Scappoose OR — 971 7,116 162 971 7,278 8,249 (1,858 ) 2012 2088 Tualatin OR — — 6,326 396 — 6,722 6,722 (2,000 ) 2012 2063 Selinsgrove PA — 529 9,111 255 529 9,366 9,895 (2,320 ) 2012 0306 Georgetown SC — 239 3,008 — 239 3,008 3,247 (1,369 ) 1998 0305 Lancaster SC — 84 2,982 — 84 2,982 3,066 (1,274 ) 1998 0312 Rock Hill SC — 203 2,671 — 203 2,671 2,874 (1,195 ) 1998 1113 Rock Hill SC — 695 4,119 359 795 4,111 4,906 (1,567 ) 2006 0313 Sumter SC — 196 2,623 — 196 2,623 2,819 (1,194 ) 1998 2073 Kingsport TN — 1,113 8,625 335 1,113 8,960 10,073 (2,048 ) 2012 0843 Abilene TX — 300 2,830 — 300 2,710 3,010 (921 ) 2006 2107 Amarillo TX — 1,315 26,838 894 1,315 27,732 29,047 (5,518 ) 2012 0511 Austin TX — 2,960 41,645 — 2,960 41,644 44,604 (22,558 ) 2002 2075 Bedford TX — 1,204 26,845 1,704 1,204 28,549 29,753 (6,119 ) 2012 0844 Burleson TX — 1,050 5,242 — 1,050 4,902 5,952 (1,665 ) 2006 0848 Cedar Hill TX — 1,070 11,554 — 1,070 11,104 12,174 (3,771 ) 2006 1106 Houston TX — 1,008 15,333 183 1,020 14,955 15,975 (4,978 ) 2006 0845 North Richland Hills TX — 520 5,117 — 520 4,807 5,327 (1,632 ) 2006 0846 North Richland Hills TX — 870 9,259 — 870 8,819 9,689 (3,422 ) 2006 2162 Portland TX — 1,233 14,001 3,027 1,233 17,028 18,261 (4,486 ) 2012 2116 Sherman TX — 209 3,492 187 209 3,679 3,888 (935 ) 2012 0847 Waxahachie TX — 390 3,879 — 390 3,659 4,049 (1,242 ) 2006 0881 Chesapeake VA — 1,090 12,444 — 1,090 11,944 13,034 (3,907 ) 2006 0225 Woodbridge VA — 950 6,983 1,652 950 8,460 9,410 (4,317 ) 1997 0797 Kirkland WA — 1,000 13,403 — 1,000 13,043 14,043 (4,701 ) 2005 2096 Poulsbo WA — 1,801 18,068 231 1,801 18,299 20,100 (3,845 ) 2012 2102 Richland WA — 249 5,067 138 249 5,205 5,454 (1,088 ) 2012 0794 Shoreline WA — 1,590 10,671 — 1,590 10,261 11,851 (3,699 ) 2005 0795 Shoreline WA — 4,030 26,421 — 4,030 25,651 29,681 (9,186 ) 2005 2061 Vancouver WA — 513 4,556 263 513 4,819 5,332 (1,299 ) 2012 2062 Vancouver WA — 1,498 9,997 211 1,498 10,208 11,706 (2,099 ) 2012 $ 6,270 $ 99,788 $ 852,579 $ 34,901 $ 99,934 $ 868,393 $ 968,327 $ (295,000 ) Encumbrances at December 31, 2019 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 $ 3,924 $ 2,640 $ 36,339 $ 38,979 $ (11,961 ) 2011 2935 Alameda CA 19,683 6,225 20,194 36 6,225 20,230 26,455 (484 ) 2019 2911 Beverly Hills CA — 9,872 32,590 10,714 9,872 40,380 50,252 (13,574 ) 1998 2933 Chino Hills CA — 3,720 41,183 269 3,720 40,222 43,942 (6,355 ) 1998 2953 Concord CA 32,106 5,386 45,874 9 5,386 45,883 51,269 (707 ) 2019 2931 Concord CA 25,000 6,010 39,615 321 6,010 38,636 44,646 (13,808 ) 1998 2932 Escondido CA 14,340 5,090 24,253 204 5,090 23,557 28,647 (8,430 ) 1998 2937 Fair Oaks CA 33,794 3,972 51,073 — 3,972 51,073 55,045 (1,261 ) 2019 1965 Fresno CA — 1,730 31,918 3,539 1,730 34,813 36,543 (11,114 ) 2011 2959 Huntington Beach CA — 12,365 36,509 13 12,365 36,522 48,887 (678 ) 2019 2593 Irvine CA — 8,220 14,104 7,176 8,220 20,740 28,960 (4,254 ) 2006 2934 Roseville CA — 3,844 33,527 59 3,844 33,315 37,159 (5,870 ) 2014 2952 San Jose CA 28,761 10,658 34,661 74 10,658 34,735 45,393 (524 ) 2019 2951 Santa Clarita CA 34,175 16,896 38,549 38 16,896 38,587 55,483 (642 ) 2019 2792 Santa Rosa CA — 3,582 21,113 2,916 3,627 22,689 26,316 (7,793 ) 2006 1966 Sun City CA — 2,650 22,709 7,718 2,650 29,570 32,220 (9,653 ) 2011 2958 Valencia CA 26,049 12,699 49,986 — 12,699 49,986 62,685 (968 ) 2019 2936 Whittier CA — 3,355 24,639 42 3,355 24,681 28,036 (588 ) 2019 2603 Boca Raton FL — 2,415 17,923 2,256 2,415 19,154 21,569 (5,834 ) 2006 2602 Boynton Beach FL — 1,270 4,773 4,379 1,270 7,378 8,648 (2,152 ) 2003 3042 Bradenton FL — 1,720 30,814 72 1,720 30,886 32,606 (872 ) 2019 2520 Clearwater FL — 2,250 2,627 2,829 2,250 4,876 7,126 (1,712 ) 2015 2604 Coconut Creek FL — 2,461 16,006 3,343 2,461 17,915 20,376 (5,373 ) 2006 2601 Delray Beach FL — 850 6,637 3,378 850 9,102 9,952 (3,085 ) 2002 3043 Fort Myers FL — 1,806 37,410 117 1,806 37,527 39,333 (1,031 ) 2019 3044 Fort Myers FL — 3,177 55,719 65 3,177 55,784 58,961 (1,570 ) 2019 2517 Ft Lauderdale FL — 2,867 43,126 12,824 2,867 54,298 57,165 (7,562 ) 2015 2522 Lutz FL — 902 15,169 6,107 902 21,276 22,178 (2,379 ) 2015 3039 Melbourne FL — 2,212 54,579 99 2,212 54,678 56,890 (1,588 ) 2019 3040 Naples FL — 7,444 33,744 97 7,444 33,841 41,285 (1,020 ) 2019 2523 Orange City FL — 912 9,724 1,738 912 11,462 12,374 (2,174 ) 2015 3041 Palm Beach Gardens FL — 4,249 33,747 55 4,249 33,802 38,051 (951 ) 2019 1971 Sarasota FL — 3,050 29,516 9,739 3,050 38,313 41,363 (13,100 ) 2011 2526 Tamarac FL — 970 16,037 1,750 970 9,136 10,106 (2,663 ) 2015 2904 Tampa FL — 1,994 24,493 774 1,994 25,267 27,261 (666 ) 2019 3045 Tampa FL — 1,419 25,634 26 1,419 25,660 27,079 (746 ) 2019 2527 Vero Beach FL — 1,048 17,392 3,425 1,048 20,817 21,865 (2,914 ) 2015 2896 Atlanta GA — 3,957 5,378 149 3,957 5,527 9,484 (225 ) 2019 2914 Lilburn GA — 907 17,340 501 907 17,195 18,102 (5,720 ) 1998 3046 Suwanee GA — 3,708 35,882 110 3,708 35,992 39,700 (991 ) 2019 1961 Olympia Fields IL — 4,120 29,400 5,289 4,120 33,951 38,071 (11,286 ) 2011 2903 St. Charles IL — 1,000 22,747 308 1,000 23,055 24,055 (551 ) 2019 2906 Wheaton IL — 1,599 13,268 351 1,599 13,619 15,218 (385 ) 2019 2899 Prairie Village KS — 2,554 6,994 265 2,554 7,259 9,813 (314 ) 2019 2787 Plymouth MA — 2,434 9,027 1,604 2,438 9,831 12,269 (3,215 ) 2006 2746 Watertown MA — 8,828 29,317 420 8,828 29,737 38,565 (1,744 ) 2017 2894 Columbia MD — 1,947 29,201 385 1,947 29,586 31,533 (660 ) 2019 2583 Ellicott City MD 18,492 3,607 31,720 1,879 3,607 33,597 37,204 (3,623 ) 2016 2921 Frederick MD — 609 9,158 1,424 609 10,005 10,614 (3,346 ) 1998 2584 Hanover MD 8,610 4,513 25,625 1,523 4,513 27,148 31,661 (2,875 ) 2016 2585 Laurel MD 5,585 3,895 13,331 1,527 3,895 14,858 18,753 (2,131 ) 2016 2902 North Bethesda MD — 3,798 21,430 352 3,798 21,782 25,580 (597 ) 2019 2920 Farmington Hills MI — 1,013 12,119 1,042 1,013 12,413 13,426 (4,241 ) 1998 2900 Plymouth Township MI — 1,494 16,060 656 1,494 16,716 18,210 (443 ) 2019 2908 Des Peres MO — 4,361 20,664 2,397 4,361 22,443 26,804 (7,175 ) 1998 2909 Richmond Heights MO — 1,744 24,232 1,192 1,744 24,740 26,484 (8,051 ) 1998 2776 Mooresville NC — 2,538 37,617 2,427 2,538 40,044 42,582 (7,991 ) 2012 2898 Greensboro NC — 1,272 29,249 447 1,272 29,696 30,968 (674 ) 2019 2926 Raleigh NC — 1,191 11,532 1,332 1,191 12,276 13,467 (4,002 ) 1998 2901 Omaha NE — 2,864 30,793 273 2,864 31,066 33,930 (783 ) 2019 2780 Cherry Hill NJ — 2,420 11,042 2,874 2,420 13,366 15,786 (5,107 ) 2010 2912 Cresskill NJ — 4,684 53,927 2,108 4,684 54,942 59,626 (17,854 ) 1998 2897 Florham Park NJ — 8,587 30,666 805 8,587 31,471 40,058 (739 ) 2019 2915 Madison NJ — 3,157 19,909 699 3,157 19,963 23,120 (6,494 ) 1998 2781 Manahawkin NJ — 921 9,927 1,544 921 11,005 11,926 (3,937 ) 2005 2907 Saddle River NJ — 1,784 15,625 1,180 1,784 16,055 17,839 (5,247 ) 1998 2779 Voorhees Township NJ — 900 7,629 1,126 900 8,416 9,316 (3,826 ) 1998 2905 West Orange NJ — 5,231 33,395 279 5,231 33,674 38,905 (787 ) 2019 2589 Albuquerque NM — 767 9,324 1,750 767 10,575 11,342 (4,663 ) 1996 2895 Dayton OH — 848 15,095 198 848 15,293 16,141 (397 ) 2019 2893 Westlake OH — 1,908 13,039 181 1,908 13,220 15,128 (369 ) 2019 3080 Haverford PA — 16,461 108,816 18,471 16,461 121,593 138,054 (41,223 ) 1998 2784 Arlington TX — 2,494 12,192 1,138 2,540 12,574 15,114 (4,002 ) 2006 2786 Friendswood TX — 400 7,354 984 400 8,017 8,417 (3,010 ) 2002 2529 Grand Prairie TX — 865 10,650 1,670 865 12,320 13,185 (2,326 ) 2015 2785 Houston TX — 835 7,195 992 835 8,187 9,022 (3,856 ) 1997 3047 Lewisville TX — 4,228 35,835 603 4,228 36,438 40,666 (1,032 ) 2019 2510 Temple TX — 2,354 52,859 2,053 2,354 53,709 56,063 (5,772 ) 2015 2400 Victoria TX — 1,032 7,743 2,017 1,032 8,434 9,466 (1,851 ) 2015 2605 Victoria TX — 175 4,290 4,812 175 7,647 7,822 (3,769 ) 1995 2917 Arlington VA — 7,278 37,407 4,103 7,278 40,180 47,458 (13,749 ) 1998 Encumbrances at December 31, 2019 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) 2919 Falls Church VA — 2,228 8,887 1,169 2,228 9,638 11,866 (3,356 ) 1998 3081 Fort Belvoir VA — 11,594 99,528 16,735 11,594 112,578 124,172 (38,681 ) 1998 2582 Fredericksburg VA — 2,370 19,725 492 2,370 20,216 22,586 (1,858 ) 2016 2581 Leesburg VA 11,725 1,340 17,605 1,395 1,340 19,000 20,340 (1,998 ) 2016 2514 Richmond VA — 2,981 54,203 6,707 2,981 60,910 63,891 (6,940 ) 2015 2913 Edmonds WA — 1,418 16,502 819 1,418 16,780 18,198 (5,354 ) 1998 $ 258,320 $ 315,143 $ 2,273,243 $ 192,882 $ 315,238 $ 2,411,867 $ 2,727,105 $ (415,276 ) Encumbrances at December 31, 2019 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 $ 12,714 $ 8,498 $ 13,214 $ 21,712 $ — 2007 1484 Brisbane CA — 11,331 689 63,861 11,331 64,550 75,881 — 2007 1485 Brisbane CA — 11,331 600 9,106 11,331 9,706 21,037 — 2007 1486 Brisbane CA — 11,331 — 179,627 11,331 179,627 190,958 — 2007 1487 Brisbane CA — 8,498 — 11,621 8,498 11,621 20,119 — 2007 2874 Brisbane CA — 64,186 62,318 997 64,186 63,271 127,457 (1,599 ) 2019 2875 Brisbane CA — 58,410 56,623 130 58,410 56,743 115,153 (1,510 ) 2019 1401 Hayward CA — 900 7,100 2,065 900 8,311 9,211 (2,347 ) 2007 1402 Hayward CA — 1,500 6,400 3,682 1,719 9,644 11,363 (5,247 ) 2007 1403 Hayward CA — 1,900 7,100 7,292 1,900 13,259 15,159 (3,868 ) 2007 1404 Hayward CA — 2,200 17,200 1,776 2,200 18,976 21,176 (5,591 ) 2007 1405 Hayward CA — 1,000 3,200 7,497 1,000 10,697 11,697 (8,086 ) 2007 1549 Hayward CA — 1,006 4,259 3,919 1,055 6,063 7,118 (2,723 ) 2007 1550 Hayward CA — 677 2,761 5,837 710 3,057 3,767 (1,735 ) 2007 1551 Hayward CA — 661 1,995 4,632 693 2,408 3,101 (1,066 ) 2007 1552 Hayward CA — 1,187 7,139 1,889 1,222 7,885 9,107 (3,533 ) 2007 1553 Hayward CA — 1,189 9,465 7,361 1,225 16,229 17,454 (7,563 ) 2007 1554 Hayward CA — 1,246 5,179 3,332 1,283 7,562 8,845 (3,542 ) 2007 1555 Hayward CA — 1,521 13,546 6,956 1,566 20,398 21,964 (9,405 ) 2007 1556 Hayward CA — 1,212 5,120 4,660 1,249 6,791 8,040 (2,659 ) 2007 1424 La Jolla CA — 9,600 25,283 12,511 9,719 34,365 44,084 (10,347 ) 2007 1425 La Jolla CA — 6,200 19,883 1,661 6,276 21,420 27,696 (6,311 ) 2007 1426 La Jolla CA — 7,200 12,412 13,593 7,287 22,680 29,967 (7,827 ) 2007 1427 La Jolla CA — 8,700 16,983 7,128 8,767 22,255 31,022 (9,216 ) 2007 1949 La Jolla CA — 2,686 11,045 843 2,686 11,548 14,234 (3,539 ) 2011 2229 La Jolla CA — 8,753 32,528 9,320 8,777 41,451 50,228 (6,882 ) 2014 1470 Poway CA — 5,826 12,200 6,048 5,826 12,542 18,368 (3,830 ) 2007 1471 Poway CA — 5,978 14,200 4,253 5,978 14,200 20,178 (4,408 ) 2007 1472 Poway CA — 8,654 — 11,906 8,654 11,906 20,560 (2,098 ) 2007 1473 Poway CA — 11,024 2,405 26,607 11,024 29,012 40,036 (2,212 ) 2019 1474 Poway CA — 5,051 — 10,501 5,051 10,501 15,552 — 2019 1475 Poway CA — 5,655 — 10,192 5,655 10,192 15,847 — 2007 1478 Poway CA — 6,700 14,400 6,145 6,700 14,400 21,100 (4,470 ) 2007 1499 Redwood City CA — 3,400 5,500 2,307 3,407 6,907 10,314 (3,304 ) 2007 1500 Redwood City CA — 2,500 4,100 1,220 2,506 4,563 7,069 (1,806 ) 2007 1501 Redwood City CA — 3,600 4,600 1,678 3,607 5,842 9,449 (2,062 ) 2007 1502 Redwood City CA — 3,100 5,100 954 3,107 5,801 8,908 (2,376 ) 2007 1503 Redwood City CA — 4,800 17,300 4,169 4,818 19,817 24,635 (5,863 ) 2007 1504 Redwood City CA — 5,400 15,500 8,341 5,418 23,819 29,237 (6,148 ) 2007 1505 Redwood City CA — 3,000 3,500 826 3,006 4,115 7,121 (2,038 ) 2007 1506 Redwood City CA — 6,000 14,300 14,666 6,018 28,340 34,358 (8,162 ) 2007 1507 Redwood City CA — 1,900 12,800 13,722 1,912 26,510 28,422 (10,668 ) 2007 1508 Redwood City CA — 2,700 11,300 12,309 2,712 18,046 20,758 (4,331 ) 2007 1509 Redwood City CA — 2,700 10,900 10,476 2,712 20,841 23,553 (10,553 ) 2007 1510 Redwood City CA — 2,200 12,000 9,890 2,212 17,996 20,208 (4,281 ) 2007 1511 Redwood City CA — 2,600 9,300 6,120 2,612 14,808 17,420 (3,228 ) 2007 1512 Redwood City CA — 3,300 18,000 12,398 3,300 30,398 33,698 (11,493 ) 2007 1513 Redwood City CA — 3,300 17,900 15,279 3,326 33,153 36,479 (14,297 ) 2007 0678 San Diego CA — 2,603 11,051 3,166 2,603 14,217 16,820 (5,368 ) 2002 0679 San Diego CA — 5,269 23,566 27,021 5,669 46,887 52,556 (15,055 ) 2002 0837 San Diego CA — 4,630 2,028 9,100 4,630 5,193 9,823 (1,600 ) 2006 0838 San Diego CA — 2,040 903 5,189 2,040 4,138 6,178 (878 ) 2006 0839 San Diego CA — 3,940 3,184 6,003 4,047 4,917 8,964 (1,730 ) 2006 0840 San Diego CA — 5,690 4,579 789 5,830 4,802 10,632 (1,916 ) 2006 1418 San Diego CA — 11,700 31,243 9,087 11,700 33,968 45,668 (9,190 ) 2007 1419 San Diego CA — 2,324 — 2,977 2,324 2,977 5,301 — 2007 1420 San Diego CA — 4,200 — 4,432 4,200 4,432 8,632 — 2007 1421 San Diego CA — 7,000 33,779 1,209 7,000 34,988 41,988 (11,124 ) 2007 1422 San Diego CA — 7,179 3,687 4,900 7,336 8,391 15,727 (3,538 ) 2007 1423 San Diego CA — 8,400 33,144 9,191 8,400 42,335 50,735 (9,537 ) 2007 1514 San Diego CA — 5,200 — — 5,200 — 5,200 — 2007 1558 San Diego CA — 7,740 22,654 3,829 7,888 25,104 32,992 (8,138 ) 2007 1947 San Diego CA — 2,581 10,534 4,231 2,581 14,765 17,346 (4,682 ) 2011 1948 San Diego CA — 5,879 25,305 3,385 5,879 26,392 32,271 (7,671 ) 2011 2197 San Diego CA — 7,621 3,913 8,541 7,626 11,158 18,784 (3,529 ) 2007 2476 San Diego CA — 7,661 9,918 7,418 7,661 17,336 24,997 (206 ) 2016 2477 San Diego CA — 9,207 14,613 6,558 9,207 21,171 30,378 (2,916 ) 2016 2478 San Diego CA — 6,000 — 1,857 6,000 1,857 7,857 — 2016 2617 San Diego CA — 2,734 5,195 13,847 2,734 19,042 21,776 — 2017 2618 San Diego CA — 4,100 12,395 10,929 4,100 23,324 27,424 (1,224 ) 2017 2622 San Diego (3) CA — — — 14,477 — 14,477 14,477 — 2004 2872 San Diego CA — 10,120 38,351 1,044 10,120 39,395 49,515 (1,673 ) 2018 2873 San Diego CA — 6,052 14,122 57 6,052 14,460 20,512 (908 ) 2018 3069 San Diego CA — 7,054 7,794 25 7,054 7,819 14,873 (208 ) 2019 1407 South San Francisco CA — 7,182 12,140 10,011 7,186 13,393 20,579 (4,572 ) 2007 1408 South San Francisco CA — 9,000 17,800 1,498 9,000 18,275 27,275 (5,696 ) 2007 1409 South San Francisco CA — 18,000 38,043 5,260 18,000 43,303 61,303 (13,699 ) 2007 1410 South San Francisco CA — 4,900 18,100 12,533 4,900 30,544 35,444 (6,604 ) 2007 1411 South San Francisco CA — 8,000 27,700 12,065 8,000 39,682 47,682 (8,087 ) 2007 1412 South San Francisco CA — 10,100 22,521 4,143 10,100 26,425 36,525 (7,898 ) 2007 1413 South San Francisco CA — 8,000 28,299 7,923 8,000 36,222 44,222 (10,092 ) 2007 1414 South San Francisco CA — 3,700 20,800 2,248 3,700 22,845 26,545 (7,797 ) 2007 1430 South San Francisco CA — 10,700 23,621 21,011 10,700 42,099 52,799 (6,791 ) 2007 Encumbrances at December 31, 2019 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) 1431 South San Francisco CA — 7,000 15,500 9,791 7,000 25,291 32,291 (5,425 ) 2007 1435 South San Francisco CA — 13,800 42,500 37,058 13,800 79,558 93,358 (25,206 ) 2008 1436 South San Francisco CA — 14,500 45,300 36,935 14,500 82,235 96,735 (25,647 ) 2008 1437 South San Francisco CA — 9,400 24,800 50,146 9,400 73,376 82,776 (22,442 ) 2008 1439 South San Francisco CA — 11,900 68,848 115 11,900 68,963 80,863 (21,400 ) 2007 1440 South San Francisco CA — 10,000 57,954 400 10,000 58,354 68,354 (18,005 ) 2007 1441 South San Francisco CA — 9,300 43,549 8 9,300 43,557 52,857 (13,521 ) 2007 1442 South San Francisco CA — 11,000 47,289 91 11,000 47,380 58,380 (14,751 ) 2007 1443 South San Francisco CA — 13,200 60,932 2,642 13,200 63,574 76,774 (19,688 ) 2007 1444 South San Francisco CA — 10,500 33,776 923 10,500 34,699 45,199 (10,754 ) 2007 1445 South San Francisco CA — 10,600 34,083 9 10,600 34,092 44,692 (10,583 ) 2007 1458 South San Francisco CA — 10,900 20,900 8,808 10,909 24,072 34,981 (9,029 ) 2007 1459 South San Francisco CA — 3,600 100 1,246 3,600 1,346 4,946 (94 ) 2007 1460 South San Francisco CA — 2,300 100 291 2,300 391 2,691 (100 ) 2007 1461 South San Francisco CA — 3,900 200 504 3,900 704 4,604 (200 ) 2007 1462 South San Francisco CA — 7,117 600 5,773 7,117 4,588 11,705 (1,151 ) 2007 1463 South San Francisco CA — 10,381 2,300 20,861 10,381 20,813 31,194 (5,054 ) 2007 1464 South San Francisco CA — 7,403 700 11,638 7,403 7,987 15,390 (1,862 ) 2007 1468 South San Francisco CA — 10,100 24,013 15,810 10,100 36,067 46,167 (8,028 ) 2007 1480 South San Francisco CA — 32,210 3,110 18,900 32,210 22,010 54,220 — 2007 1559 South San Francisco CA — 5,666 5,773 12,970 5,695 18,645 24,340 (14,055 ) 2007 1560 South San Francisco CA — 1,204 1,293 2,888 1,210 4,060 5,270 (1,578 ) 2007 1983 South San Francisco CA — 8,648 — 96,070 8,648 96,070 104,718 (15,537 ) 2016 1984 South San Francisco CA — 7,845 — 84,770 7,844 84,771 92,615 (10,799 ) 2017 1985 South San Francisco CA — 6,708 — 121,730 6,708 121,730 128,438 (13,100 ) 2017 1986 South San Francisco CA — 6,708 — 107,108 6,708 107,108 113,816 (8,895 ) 2018 1987 South San Francisco CA — 8,544 — 99,902 8,544 99,902 108,446 (3,683 ) 2019 1988 South San Francisco CA — 10,120 — 119,864 10,120 119,864 129,984 (3,982 ) 2019 1989 South San Francisco CA — 9,169 — 80,263 9,169 80,263 89,432 — 2011 2553 South San Francisco CA — 2,897 8,691 2,821 2,897 11,512 14,409 (1,898 ) 2015 2554 South San Francisco CA — 995 2,754 2,174 995 4,928 5,923 (650 ) 2015 2555 South San Francisco CA — 2,202 10,776 770 2,202 11,546 13,748 (1,425 ) 2015 2556 South San Francisco CA — 2,962 15,108 1,005 2,962 16,113 19,075 (1,834 ) 2015 2557 South San Francisco CA — 2,453 13,063 3,616 2,453 16,679 19,132 (2,302 ) 2015 2558 South San Francisco CA — 1,163 5,925 58 1,163 5,983 7,146 (706 ) 2015 2614 South San Francisco CA — 5,079 8,584 1,731 5,083 9,662 14,745 (3,424 ) 2007 2615 South San Francisco CA — 7,984 13,495 3,243 7,988 14,809 22,797 (5,553 ) 2007 2616 South San Francisco CA — 8,355 14,121 1,876 8,358 14,565 22,923 (5,158 ) 2007 2624 South San Francisco CA — 25,502 42,910 6,169 25,502 48,949 74,451 (4,116 ) 2017 2870 South San Francisco CA — 23,297 41,797 18,374 23,297 60,171 83,468 (839 ) 2018 2871 South San Francisco CA — 20,293 41,262 20,625 20,293 61,887 82,180 (3,057 ) 2018 9999 Denton TX — 100 — — 100 — 100 — 2016 2928 Cambridge MA — 44,215 24,120 — 44,215 24,120 68,335 (1,075 ) 2019 2929 Cambridge MA — 20,517 — 2,047 20,517 2,047 22,564 — 2019 3074 Cambridge MA — 78,762 252,136 — 78,762 252,136 330,898 (602 ) 2019 2630 Lexington MA — 16,411 49,681 484 16,411 50,165 66,576 (4,821 ) 2017 2631 Lexington MA — 7,759 142,081 15,100 7,759 155,463 163,222 (8,785 ) 2017 2632 Lexington MA — — 21,390 53,439 — 74,829 74,829 — 2018 3070 Lexington MA — 14,013 17,092 — 14,013 17,092 31,105 (275 ) 2019 3071 Lexington MA — 14,930 16,677 — 14,930 16,677 31,607 (350 ) 2019 3072 Lexington MA — 35,469 43,903 — 35,469 43,903 79,372 (790 ) 2019 3073 Lexington MA — 37,050 44,647 — 37,050 44,647 81,697 (758 ) 2019 2011 Durham NC 4,620 448 6,152 21,524 448 23,852 24,300 (5,997 ) 2011 2030 Durham NC — 1,920 5,661 34,749 1,920 40,410 42,330 (10,874 ) 2012 0464 Salt Lake City UT — 630 6,921 2,562 630 9,482 10,112 (4,019 ) 2001 0465 Salt Lake City UT — 125 6,368 68 125 6,436 6,561 (2,675 ) 2001 0466 Salt Lake City UT — — 14,614 7 — 14,621 14,621 (5,527 ) 2001 0799 Salt Lake City UT — — 14,600 90 — 14,690 14,690 (4,711 ) 2005 1593 Salt Lake City UT — — 23,998 — — 23,998 23,998 (6,848 ) 2010 $ 4,620 $ 1,208,071 $ 2,497,762 $ 1,950,017 $ 1,210,155 $ 4,316,615 $ 5,526,770 $ (748,189 ) Encumbrances at December 31, 2019 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 $ 12,384 $ 1,456 $ 22,981 $ 24,437 $ (8,902 ) 2006 2572 Springdale AR — — 27,714 — — 27,714 27,714 (2,748 ) 2016 0520 Chandler AZ — 3,669 13,503 6,885 3,749 19,077 22,826 (6,360 ) 2002 2040 Mesa AZ — — 17,314 1,662 — 18,775 18,775 (3,608 ) 2012 0468 Oro Valley AZ — 1,050 6,774 995 1,084 7,160 8,244 (3,335 ) 2001 0356 Phoenix AZ — 780 3,199 2,807 865 4,999 5,864 (2,609 ) 1999 0470 Phoenix AZ — 280 877 172 280 1,014 1,294 (427 ) 2001 1066 Scottsdale AZ — 5,115 14,064 4,434 4,839 16,988 21,827 (6,134 ) 2006 2021 Scottsdale AZ — — 12,312 4,023 — 15,826 15,826 (5,317 ) 2012 2022 Scottsdale AZ — — 9,179 1,890 — 10,919 10,919 (4,322 ) 2012 2023 Scottsdale AZ — — 6,398 2,079 — 8,235 8,235 (2,841 ) 2012 2024 Scottsdale AZ — — 9,522 925 32 10,349 10,381 (3,399 ) 2012 2025 Scottsdale AZ — — 4,102 2,230 — 6,116 6,116 (2,384 ) 2012 2026 Scottsdale AZ — — 3,655 2,179 — 5,648 5,648 (1,624 ) 2012 2027 Scottsdale AZ — — 7,168 2,508 — 9,452 9,452 (3,156 ) 2012 2028 Scottsdale AZ — — 6,659 4,024 — 10,683 10,683 (3,067 ) 2012 0453 Tucson AZ — 215 6,318 1,576 326 7,225 7,551 (4,032 ) 2000 0556 Tucson AZ — 215 3,940 1,678 267 5,138 5,405 (2,038 ) 2003 1041 Brentwood CA — — 30,864 3,135 309 32,897 33,206 (11,460 ) 2006 1200 Encino CA — 6,151 10,438 6,340 6,757 14,584 21,341 (5,751 ) 2006 1038 Fresno CA — 3,652 29,113 21,935 3,652 51,048 54,700 (18,753 ) 2006 0436 Murrieta CA — 400 9,266 5,067 749 12,400 13,149 (6,729 ) 1999 0239 Poway CA — 2,700 10,839 4,929 2,965 13,121 16,086 (7,477 ) 1997 2654 Riverside CA — 2,758 9,908 444 2,758 10,315 13,073 (872 ) 2017 0318 Sacramento CA — 2,860 37,566 27,503 2,911 63,526 66,437 (15,815 ) 1998 2404 Sacramento CA — 1,268 5,109 996 1,299 6,045 7,344 (1,242 ) 2015 0234 San Diego CA — 2,848 5,879 1,450 3,009 4,981 7,990 (3,559 ) 1997 0235 San Diego CA — 2,863 8,913 2,913 3,068 7,475 10,543 (5,033 ) 1997 0236 San Diego CA — 4,619 19,370 4,023 4,711 15,996 20,707 (10,428 ) 1997 0421 San Diego CA — 2,910 19,984 16,395 2,964 35,006 37,970 (11,554 ) 1999 0564 San Jose CA — 1,935 1,728 2,922 1,935 3,242 5,177 (1,522 ) 2003 0565 San Jose CA — 1,460 7,672 1,010 1,460 8,201 9,661 (3,462 ) 2003 0659 Los Gatos CA — 1,718 3,124 685 1,758 3,453 5,211 (1,436 ) 2000 0439 Valencia CA — 2,300 6,967 4,243 2,404 9,027 11,431 (4,539 ) 1999 1211 Valencia CA — 1,344 7,507 881 1,383 8,002 9,385 (2,753 ) 2006 0440 West Hills CA — 2,100 11,595 4,725 2,259 12,145 14,404 (6,617 ) 1999 0728 Aurora CO — — 8,764 3,384 — 9,362 9,362 (4,027 ) 2005 1196 Aurora CO — 210 12,362 7,378 210 18,794 19,004 (5,469 ) 2006 1197 Aurora CO — 200 8,414 5,818 285 13,512 13,797 (4,545 ) 2006 0882 Colorado Springs CO — — 12,933 11,330 — 20,207 20,207 (6,923 ) 2006 1199 Denver CO — 493 7,897 1,865 622 8,721 9,343 (3,687 ) 2006 0808 Englewood CO — — 8,616 9,521 11 16,263 16,274 (7,772 ) 2005 0809 Englewood CO — — 8,449 5,219 — 11,502 11,502 (4,590 ) 2005 0810 Englewood CO — — 8,040 13,629 — 19,028 19,028 (6,453 ) 2005 0811 Englewood CO — — 8,472 10,255 — 16,948 16,948 (5,354 ) 2005 2658 Highlands Ranch CO — 1,637 10,063 — 1,637 10,063 11,700 (774 ) 2017 0812 Littleton CO — — 4,562 2,583 257 5,710 5,967 (2,672 ) 2005 0813 Littleton CO — — 4,926 2,511 106 6,277 6,383 (2,356 ) 2005 0570 Lone Tree (3) CO — — — 21,061 — 19,853 19,853 (7,586 ) 2003 0666 Lone Tree CO — — 23,274 4,408 17 25,586 25,603 (9,071 ) 2000 2233 Lone Tree CO — — 6,734 30,220 — 36,843 36,843 (6,438 ) 2014 1076 Parker CO — — 13,388 1,212 8 14,282 14,290 (5,189 ) 2006 0510 Thornton CO — 236 10,206 4,400 463 12,862 13,325 (5,435 ) 2002 0434 Atlantis FL — — 2,027 462 5 2,269 2,274 (1,242 ) 1999 0435 Atlantis FL — — 2,000 1,190 — 2,578 2,578 (1,353 ) 1999 0602 Atlantis FL — 455 2,231 1,025 455 2,863 3,318 (1,215 ) 2000 2963 Brooksville (3) FL — — — 782 — 782 782 — 2019 0604 Englewood FL — 170 1,134 503 226 1,306 1,532 (577 ) 2000 2962 Jacksonville (3) FL — — — 347 — 347 347 — 2019 0609 Kissimmee FL — 788 174 1,225 788 1,256 2,044 (322 ) 2000 0610 Kissimmee FL — 481 347 790 494 778 1,272 (436 ) 2000 0671 Kissimmee FL — — 7,574 2,674 — 8,357 8,357 (3,188 ) 2000 0603 Lake Worth FL — 1,507 2,894 1,807 1,507 4,541 6,048 (2,445 ) 2000 0612 Margate FL — 1,553 6,898 2,143 1,553 8,697 10,250 (3,395 ) 2000 0613 Miami FL — 4,392 11,841 5,688 4,392 14,920 19,312 (5,933 ) 2000 2202 Miami FL — — 13,123 7,994 — 20,815 20,815 (4,796 ) 2014 2203 Miami FL — — 8,877 3,915 — 12,698 12,698 (2,897 ) 2014 1067 Milton FL — — 8,566 649 — 9,172 9,172 (2,999 ) 2006 2577 Naples FL — — 29,186 1,367 — 30,553 30,553 (2,711 ) 2016 2578 Naples FL — — 18,819 702 — 19,521 19,521 (1,483 ) 2016 2964 Okeechobee (3) FL — — — 89 — 89 89 — 2019 0563 Orlando FL — 2,144 5,136 15,562 12,268 8,412 20,680 (5,077 ) 2003 0833 Pace FL — — 10,309 3,624 26 11,613 11,639 (3,709 ) 2006 0834 Pensacola FL — — 11,166 669 — 11,835 11,835 (3,908 ) 2006 0673 Plantation FL — 1,091 7,176 2,059 1,091 8,675 9,766 (3,266 ) 2002 2579 Punta Gorda FL — — 9,379 — — 9,379 9,379 (839 ) 2016 2833 St. Petersburg FL — — 13,754 14,642 — 25,323 25,323 (7,091 ) 2006 2836 Tampa FL — 1,967 6,618 8,216 2,722 10,872 13,594 (5,355 ) 2006 1058 Blue Ridge GA — — 3,231 260 — 3,473 3,473 (1,150 ) 2006 2576 Statesboro GA — — 10,234 194 — 10,428 10,428 (1,249 ) 2016 1065 Marion IL — 99 11,538 2,118 100 13,213 13,313 (4,267 ) 2006 1057 Newburgh IN — — 14,019 5,280 — 19,291 19,291 (6,777 ) 2006 2039 Kansas City KS — 440 2,173 17 448 2,137 2,585 (460 ) 2012 Encumbrances at December 31, 2019 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) 2043 Overland Park KS — — 7,668 1,386 — 9,054 9,054 (1,989 ) 2012 3062 Overland Park KS — 872 11,813 27 872 11,840 12,712 (403 ) 2019 0483 Wichita KS — 530 3,341 713 530 3,617 4,147 (1,433 ) 2001 1064 Lexington KY — — 12,726 2,032 — 14,501 14,501 (5,294 ) 2006 0735 Louisville KY — 936 8,426 18,384 936 24,203 25,139 (10,700 ) 2005 0737 Louisville KY — 835 27,627 8,368 878 33,296 34,174 (12,872 ) 2005 0738 Louisville KY — 780 8,582 6,643 851 12,630 13,481 (8,657 ) 2005 0739 Louisville KY — 826 13,814 3,020 832 15,295 16,127 (5,549 ) 2005 2834 Louisville KY — 2,983 13,171 6,815 2,991 18,508 21,499 (8,608 ) 2005 1944 Louisville KY — 788 2,414 — 788 2,414 3,202 (869 ) 2010 1945 Louisville KY — 3,255 28,644 1,770 3,291 29,880 33,171 (9,019 ) 2010 1946 Louisville KY — 430 6,125 197 430 6,322 6,752 (1,906 ) 2010 2237 Louisville KY — 1,519 15,386 3,943 1,648 19,194 20,842 (4,220 ) 2014 2238 Louisville KY — 1,334 12,172 2,293 1,511 14,208 15,719 (3,381 ) 2014 2239 Louisville KY — 1,644 10,832 5,804 2,041 16,191 18,232 (4,029 ) 2014 1324 Haverhill MA — 800 8,537 2,335 869 9,092 9,961 (3,027 ) 2007 1213 Ellicott City MD — 1,115 3,206 3,154 1,222 4,955 6,177 (2,256 ) 2006 1052 Towson MD — — 14,233 4,619 — 13,549 13,549 (4,159 ) 2006 2650 Biddeford ME — 1,949 12,244 — 1,949 12,244 14,193 (916 ) 2017 0240 Minneapolis MN — 117 13,213 5,342 117 17,273 17,390 (9,168 ) 1997 0300 Minneapolis MN — 160 10,131 5,006 160 13,891 14,051 (8,084 ) 1997 2032 Independence MO — — 48,025 2,743 — 49,741 49,741 (8,353 ) 2012 2863 Lee's Summit (3) MO — — — 7,557 — 7,557 7,557 — 2019 1078 Flowood MS — — 8,413 1,239 — 8,984 8,984 (2,840 ) 2006 1059 Jackson MS — — 8,868 231 — 9,091 9,091 (2,998 ) 2006 1060 Jackson MS — — 7,187 2,270 — 8,379 8,379 (2,725 ) 2006 1068 Omaha NE — — 16,243 1,589 17 17,457 17,474 (6,176 ) 2006 2651 Charlotte NC — 2,001 11,217 87 2,001 11,267 13,268 (776 ) 2017 2655 Wilmington NC — 1,341 17,376 — 1,341 17,376 18,717 (1,408 ) 2017 2656 Wilmington NC — 2,071 11,592 — 2,071 11,592 13,663 (858 ) 2017 2657 Shallotte NC — 918 3,609 — 918 3,609 4,527 (369 ) 2017 2647 Concord NH — 1,961 23,516 109 1,961 23,419 25,380 (1,633 ) 2017 2648 Concord NH — 815 8,902 421 815 9,323 10,138 (800 ) 2017 2649 Epsom NH — 919 5,868 38 919 5,906 6,825 (643 ) 2017 0729 Albuquerque NM — — 5,380 755 — 5,596 5,596 (1,918 ) 2005 0571 Las Vegas (3) NV — — — 20,710 — 18,592 18,592 (6,847 ) 2003 0660 Las Vegas NV — 1,121 4,363 7,746 1,328 8,579 9,907 (3,149 ) 2000 0661 Las Vegas NV — 2,305 4,829 6,211 2,447 4,828 7,275 (4,966 ) 2000 0662 Las Vegas NV — 3,480 12,305 6,506 3,480 15,535 19,015 (6,322 ) 2000 0663 Las Vegas NV — 1,717 3,597 12,143 1,724 13,892 15,616 (4,025 ) 2000 0664 Las Vegas NV — 1,172 — 633 1,805 — 1,805 (179 ) 2000 0691 Las Vegas NV — 3,244 18,339 8,391 3,338 25,148 28,486 (11,806 ) 2004 2037 Mesquite NV — — 5,559 782 34 6,197 6,231 (1,166 ) 2012 0400 Harrison OH — — 4,561 300 — 4,861 4,861 (2,898 ) 1999 1054 Durant OK — 619 9,256 2,361 659 11,520 12,179 (3,774 ) 2006 0817 Owasso OK — — 6,582 1,599 — 5,657 5,657 (1,878 ) 2005 0404 Roseburg OR — — 5,707 700 — 6,407 6,407 (3,931 ) 1999 2570 Limerick PA — 925 20,072 51 925 20,123 21,048 (2,343 ) 2016 2234 Philadelphia PA — 24,264 99,904 39,586 24,288 139,329 163,617 (17,840 ) 2014 2403 Philadelphia PA — 26,063 97,646 18,609 26,134 116,184 142,318 (21,338 ) 2015 2571 Wilkes-Barre PA — — 9,138 — — 9,138 9,138 (1,093 ) 2016 2573 Florence SC — — 12,090 91 — 12,181 12,181 (1,157 ) 2016 2574 Florence SC — — 12,190 88 — 12,278 12,278 (1,165 ) 2016 2575 Florence SC — — 11,243 56 — 11,299 11,299 (1,315 ) 2016 2841 Greenville SC — 634 38,386 — 634 38,386 39,020 (2,553 ) 2018 2842 Greenville SC — 794 41,293 475 794 41,768 42,562 (2,782 ) 2018 2843 Greenville SC — 626 22,210 — 626 22,210 22,836 (1,547 ) 2018 2844 Greenville SC — 806 18,889 — 806 18,889 19,695 (1,376 ) 2018 2845 Greenville SC — 932 40,879 — 932 40,879 41,811 (2,518 ) 2018 2846 Greenville SC — 896 38,486

Schedule IV_ Mortgage Loans on

Schedule IV: Mortgage Loans on Real Estate Schedule IV: Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV: Mortgage Loans on Real Estate	Schedule IV: Mortgage Loans on Real Estate (Dollars in thousands) Location Segment Interest Rate Maturity Date Prior Liens Monthly Debt Service Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount Subject to Delinquent Principal or Interest Texas Other 7.5 % 04/01/2021 $ — $ 15 $ 2,250 $ 2,250 $ — Florida Other 7.5 % 04/01/2021 — 54 8,290 8,290 — Illinois Other 5.8 % 03/01/2022 — 21 4,200 4,200 — Washington Other 6.5 % 12/21/2022 — 564 102,412 102,412 — Florida Other > of 2% or Libor, plus 4.25% 01/01/2026 — 241 44,812 44,812 — $ — $ 895 $ 161,964 $ 161,964 $ — Year Ended December 31, 2019 2018 2017 Reconciliation of mortgage loans Balance at beginning of year $ 42,037 $ 188,418 $ 196,359 Additions: New mortgage loans 59,552 — — Construction draws 60,375 42,398 13,776 Total additions 119,927 42,398 13,776 Deductions: Principal repayments and conversions to equity ownership (1) — (188,779 ) (36,708 ) Total deductions — (188,779 ) (36,708 ) Change in balance due to foreign currency translation — — 14,991 Balance at end of year $ 161,964 $ 42,037 $ 188,418 (1) Includes the conversion of loans into equity ownership in real estate.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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 Healthpeak Properties, 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 is reassessed upon certain events, including, but not limited to: (i) a change to the contractual arrangements of the entity or in the ability of a party to exercise its participation or 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	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 began 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, and are recognized as both revenue (in rental and related revenues) and expense (in operating expenses) in the period the expense is incurred as the Company is the party paying the service provider. For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight line basis over the lease term when collectibility of future minimum lease payments is probable. 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 future minimum lease payments is not probable, the straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period and future revenue recognition is limited to amounts contractually owed and paid. 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 for SHOP facilities 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. Certain of the Company's continuing care retirement communities ("CCRCs") are operated as entrance fee communities, which typically require a resident to pay an upfront entrance fee that includes both a refundable portion and non-refundable portion. When the Company receives a nonrefundable entrance fee, it is recognized as deferred revenue and amortized into revenue over the estimated stay of the resident. 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.
Credit Losses	Credit Losses 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, operators, and borrowers 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. If it is no longer probable that substantially all future minimum lease payments under operating leases will be received, the straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period. 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 if: (i) 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. Prior to the adoption of ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) on January 1, 2020, allowances were established for Finance Receivables on an individual basis utilizing an estimate of probable losses, if they were determined to be impaired. Finance Receivables were impaired when it was deemed probable that the Company would be unable to collect all amounts due in accordance with the contractual terms of the Finance Receivable. An allowance was based upon the Company’s assessment of the 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 considered 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. If a Finance Receivable was deemed partially or wholly uncollectible, the uncollectible balance was charged off against the allowance in the period in which the uncollectible determination was made. Subsequent to adopting ASU 2016-13 on January 1, 2020, the Company began using a loss model that relies on future expected credit losses, rather than incurred losses, as was required under historical U.S. GAAP. Under the new model, the Company is required to recognize future credit losses expected to be incurred over the life of a Financing Receivable at inception of that instrument. The model emphasizes historical experience and future market expectations to determine a loss to be recognized at inception. However, the model continues to be applied on an individual basis and to rely on counter-party specific information to ensure the most accurate estimate is recognized.
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 amount of consideration is reasonably estimable and probable of being paid. 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 recognizes acquired “above and below market” leases at their relative fair value (for asset acquisitions) using discount rates which reflect the risks associated with the leases acquired. The fair value 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 renewal options that are reasonably certain to be exercised. 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. Certain of the Company's acquisitions involve the assumption of contract liabilities. The Company typically estimates the fair value of contract liabilities by applying a reasonable profit margin to the total discounted estimated future costs associated with servicing the contract. A variety of market and contract-specific conditions are considered when making assumptions that impact the estimated fair value of the contract liability. 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 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 . Above and below market lease intangibles are amortized to revenue over the remaining noncancellable lease terms and renewal periods that are reasonably certain to be exercised, if any. In-place lease intangibles are amortized to expense over the remaining noncancellable lease term and renewal periods that are reasonably certain to be exercised, 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. Determining the fair value of real estate assets, including assets classified as held-for-sale, involves significant judgment and generally utilizes market capitalization rates, comparable market transactions, estimated per unit or per square foot prices, negotiations with prospective buyers, and forecasted cash flows (lease revenue rates, expense rates, growth rates, etc.). 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. 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. 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 may 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 the Company does not consolidate, but over which the Company has the ability to exercise significant influence over operating and financial policies, are reported under the equity method of accounting. Under the equity method of accounting, the Company’s share of the investee’s earnings or losses is included in equity income (loss) from unconsolidated joint ventures within the Company’s consolidated statements 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 on a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in fair value below carrying value of an investment in an unconsolidated joint venture 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.
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, (ii) tenant improvements, and (iii) capital expenditures, as well as security deposits and 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, (ii) tenant improvements, and (iii) capital expenditures, as well as security deposits and 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 to 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. 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 Healthpeak Properties, 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, Healthpeak Properties, 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. Healthpeak Properties, 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. Healthpeak Properties, Inc. and its consolidated REIT subsidiaries are subject to state, local, and/or foreign income taxes in some jurisdictions. 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 that 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 and commercial paper, 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 and commercial paper 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. Commercial paper are unsecured short-term debt securities with varying maturities. A line of credit serves as a liquidity backstop for repayment of commercial paper borrowings. 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. During the first quarter of 2019, as a result of a change in how operating results are reported to the Company's chief operating decision makers for the purpose of evaluating performance and allocating resources, two facilities were reclassified from other non-reportable segments to the medical office segment. Accordingly, all prior period segment information has been recast to conform to the current period presentation.
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). 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 that are required to be measured at fair value. When available, the Company utilizes quoted market prices 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 on 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
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Revenue Recognition. 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 allowed the Company to only reassess contracts that were not completed as of the adoption date, rather than all historical contracts. As the timing and recognition of the majority of the Company's revenue is 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 4). 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 Revenue ASUs will result in certain transactions qualifying as sales of real estate at an earlier date than under historical accounting guidance. 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, Leases ) amends the previous 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 recognized a cumulative-effect adjustment to equity of $1 million as of January 1, 2019. Under ASU 2016-02, the Company began capitalizing fewer costs related to the drafting and negotiation of its lease agreements. Additionally, the Company began recognizing 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 as a lease liability and corresponding right-of-use asset. As such, the Company recognized a lease liability of $153 million and right-of-use asset of $166 million on January 1, 2019. The aggregate lease liability is calculated as the present value of minimum lease payments, discounted using a rate that approximates the Company's secured incremental borrowing rate, adjusted for the noncancelable term of each lease. The right-of-use asset is calculated as the aggregate lease liability, adjusted for the existing accrued straight-line rent liability balance of $20 million and net unamortized above/below market ground lease intangible assets of $33 million . 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 recognizes 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, Revenue from Contracts with Customers ). 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 historical presentation and did not require a change on January 1, 2019. Other . Effective January 1, 2019, the Company adopted ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). The amendments in ASU 2017-12 expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. For cash flow and net investment hedges existing at the date of adoption, the Company adopted the amendments in ASU 2017-12 using the modified retrospective approach. For amendments impacting presentation and disclosure, the Company adopted ASU 2017-12 using a prospective approach. The adoption of ASU 2017-12 did not have a material impact to the Company's consolidated financial position, results of operations, cash flows, or disclosures. Not Yet Adopted Credit Losses. In June 2016, the FASB issued 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.

Real Estate Transactions (Table

Real Estate Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of capital improvements	The following table summarizes the Company’s expenditures for construction, tenant and other capital improvements (in thousands): Year Ended December 31, Segment 2019 2018 2017 Senior housing triple-net $ 6,662 $ 11,311 $ 32,343 SHOP 90,874 53,389 49,473 Life science 499,956 396,431 240,901 Medical office 146,016 144,694 148,926 Other 450 1,361 135 $ 743,958 $ 607,186 $ 471,778

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Company's lease income	The following table summarizes the activity of the DFL Sale Portfolio during the periods presented (dollars in thousands): Year Ended December 31, 2019 2018 2017 Income from DFLs $ 17,287 $ 23,616 $ 23,820 Cash payments received 16,005 19,633 19,494 The following table summarizes the Company’s lease income (dollars in thousands): Year Ended December 31, 2019 2018 2017 Fixed income from operating leases $ 984,942 $ 1,013,757 $ 944,796 Variable income from operating leases 237,136 223,479 268,853 Interest income from direct financing leases 37,481 54,274 54,217
Schedule of components of net investment in DFLs	Net investment in DFLs consists of the following (dollars in thousands): December 31, Present value of minimum lease payments receivable $ 19,138 Present value of estimated residual value 84,604 Less deferred selling profits (19,138 ) Net investment in direct financing leases before allowance 84,604 Allowance for direct financing lease losses — Net investment in direct financing leases $ 84,604 Properties subject to direct financing leases 2 December 31, Minimum lease payments receivable $ 1,013,976 Estimated residual value 507,484 Less unearned income (807,642 ) Net investment in direct financing leases $ 713,818 Properties subject to direct financing leases 29
Schedule of the Company's internal ratings for DFLs	The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Other non-reportable segments $ 84,604 100 $ 84,604 — — $ 84,604 100 $ 84,604 $ — $ — The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2019 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 161,964 85 $ 161,964 $ — $ — Other secured 28,615 15 28,615 — — $ 190,579 100 $ 190,579 $ — $ —
Schedule of future minimum lease payments contractually due under DFLs	The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2019 (in thousands): Year Amount 2020 $ 9,553 2021 8,409 2022 1,176 2023 — 2024 — Thereafter — Undiscounted minimum lease payments receivable 19,138 Less: imputed interest — Present value of minimum lease payments receivable $ 19,138 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 future minimum lease payments due under 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, 2019 (in thousands): Year Amount 2020 $ 998,376 2021 968,622 2022 904,799 2023 822,259 2024 708,871 Thereafter 2,522,333 $ 6,925,260 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
Schedule of 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 2020 $ 17,219 10 2021 27,947 7 2022 10,924 3 2023 — — 2024 2,924 1 Thereafter 25,022 19 $ 84,036 40 _______________________________________ (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).
Schedule of other lease information	The following tables provide information regarding the Company’s leases to which it is the lessee, such as corporate offices and ground leases (dollars in thousands): Year Ended December 31, Lease Expense Information: 2019 2018 2017 Total lease expense (1) $ 16,238 $ 14,783 $ 13,674 _______________________________________ (1) Lease expense related to corporate assets is included in general and administrative expenses and lease expense related to ground leases is included within operating expenses in the Company’s consolidated statements of operations. Year Ended December 31, Supplemental Cash Flow Information: 2019 2018 2017 Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 12,727 11,655 $ 10,745 ROU asset obtained in exchange for new lease liability: Operating leases $ 5,733 $ — $ — Weighted Average Lease Term and Discount Rate: December 31, Weighted average remaining lease term (years): Operating leases 51 Weighted average discount rate: Operating leases 4.36 %
Schedule of future minimum lease obligations, 842	The following table summarizes future minimum lease payments under non-cancelable ground and other operating leases included in the Company’s lease liability as of December 31, 2019 (in thousands): Year Amount 2020 $ 9,407 2021 9,208 2022 9,045 2023 8,985 2024 7,139 Thereafter 451,790 Undiscounted minimum lease payments included in the lease liability 495,574 Less: imputed interest (338,963 ) Present value of lease liability $ 156,611
Schedule of future minimum lease obligations, 840	The following table summarizes future minimum lease obligations under non-cancelable ground and other operating leases as of December 31, 2018 (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 (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of loans receivable (in thousands)	The following table summarizes the Company’s loans receivable (in thousands): December 31, 2019 2018 Real Estate Secured Other Secured Total Real Estate Secured Other Secured Total Mezzanine $ — $ 27,752 $ 27,752 $ — $ 21,013 $ 21,013 Participating development loans and other (1) 161,964 — 161,964 42,037 — 42,037 Unamortized discounts, fees, and costs — 863 863 — (52 ) (52 ) $ 161,964 $ 28,615 $ 190,579 $ 42,037 $ 20,961 $ 62,998 _______________________________________ (1) At December 31, 2019 , the Company had $25 million remaining of commitments to fund $174 million of senior housing development projects. At December 31, 2018 , the Company had $73 million remaining of commitments to fund a $115 million senior housing development project.
Summary of th Company's internal ratings for loans receivable	The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands): Internal Ratings Segment Carrying Amount Percentage of DFL Portfolio Performing DFLs Watch List DFLs Workout DFLs Other non-reportable segments $ 84,604 100 $ 84,604 — — $ 84,604 100 $ 84,604 $ — $ — The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2019 (dollars in thousands): Carrying Amount Percentage of Loan Portfolio Internal Ratings Investment Type Performing Loans Watch List Loans Workout Loans Real estate secured $ 161,964 85 $ 161,964 $ — $ — Other secured 28,615 15 28,615 — — $ 190,579 100 $ 190,579 $ — $ —
Schedule of loans receivable secured by real estate	The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2019 (dollars in thousands): Final Maturity Date Number of Loans Payment Terms Principal Amount (1) Carrying Amount 2021 1 Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Texas $ 2,250 $ 2,250 2021 1 Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Florida 8,290 8,290 2022 1 Monthly interest-only payments, accrues interest at 6.5% and secured by a senior housing facility under development in Washington (2) 102,412 102,412 2022 1 Monthly interest-only payments, accrues interest at 5.75% and secured by a senior housing facility in Illinois 4,200 4,200 2026 1 Monthly interest-only payments, accrues interest at the greater of 2% or LIBOR, plus 4.25% and secured by a senior housing facility in Florida 44,812 44,812 5 $ 161,964 $ 161,964 _______________________________________ (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, 2019
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) Property Count Ownership % 2019 2018 SWF SH JV (2) 19 54 $ 428,258 $ — CCRC JV (3) 15 49 325,830 365,764 U.K. JV (4) — 49 — 101,735 MBK JV 4 50 33,415 35,435 Other SHOP JVs (5) 5 41-90 26,876 25,493 Medical Office JVs (6) 3 20-67 9,845 10,160 K&Y JVs (7) 2 80 1,215 1,430 Advances to unconsolidated joint ventures, net 76 71 $ 825,515 $ 540,088 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) In December 2019, the Company formed the SWF SH JV with a sovereign wealth fund. See Note 4 for discussion of the formation of the SWF SH JV. (3) See Note 3 for discussion of the 2019 MTCA with Brookdale, including the pending acquisition of Brookdale’s interest in the CCRC JV. (4) See Note 4 for discussion of the formation of the U.K. JV in 2018 and subsequent sale of the Company’s equity method investment in 2019. (5) In June 2019, the Company acquired the outstanding equity interests in, and began consolidating, the Vintage Park JV (see Note 4). Remaining unconsolidated SHOP joint ventures (and the Company's ownership percentage) include: (i) Waldwick JV ( 85% ); (ii) Otay Ranch JV ( 90% ); (iii) MBK Development JV ( 50% ); (iv) Discovery Naples JV ( 41% ); and (v) Discovery Sarasota JV ( 47% ). The Company’s investments in the Discovery Naples JV and the Discovery Sarasota JV are preferred equity investments earning a 10% per annum fixed-rate return. (6) Includes three unconsolidated medical office joint ventures (and the Company’s ownership percentage): (i) Ventures IV ( 20% ); (ii) Ventures III ( 30% ); and (iii) Suburban Properties, LLC ( 67% ). (7) At December 31, 2019, includes one unconsolidated joint venture. In October 2019, the Company sold its interest in one of the K&Y joint ventures for $4 million . In January 2020, the Company sold its interest in the remaining K&Y joint venture for $12 million . At December 31, 2018 , includes three unconsolidated joint ventures. The following tables summarize combined financial information for the Company’s unconsolidated joint ventures (in thousands): December 31, 2019 2018 Real estate, net $ 2,278,743 $ 2,128,147 Other assets, net 511,014 479,935 Total assets $ 2,789,757 $ 2,608,082 Mortgage and other debt $ 552,824 $ 827,622 Accounts payable and other 591,498 655,177 Other partners’ capital 756,359 515,791 Healthpeak Properties, Inc.'s capital 889,076 609,492 Total liabilities and partners’ capital $ 2,789,757 $ 2,608,082 Year Ended December 31, 2019 2018 2017 Total revenues $ 523,684 $ 642,724 $ 810,216 Total operating expense (381,257 ) (492,784 ) (643,452 ) Net income (loss) (50,872 ) (43,704 ) (42,408 ) Healthpeak Properties, Inc.’s share in earnings (losses) (8,625 ) (2,594 ) 10,901 Fees earned by Healthpeak Properties, Inc. 169 125 133 Distributions received by Healthpeak Properties, Inc. 47,186 48,939 81,165

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2019
Intangibles
Schedule of intangible lease assets	The following table summarizes the Company’s intangible lease assets (in thousands): December 31, Intangible lease assets 2019 2018 Gross intangible lease assets $ 615,538 $ 556,114 Accumulated depreciation and amortization (283,845 ) (251,035 ) Intangible assets, net $ 331,693 $ 305,079
Schedule of intangible lease liabilities	The following table summarizes the Company’s intangible lease liabilities (in thousands): December 31, Intangible lease liabilities 2019 2018 Gross intangible lease liabilities $ 113,213 $ 94,444 Accumulated depreciation and amortization (38,222 ) (39,781 ) Intangible liabilities, net $ 74,991 $ 54,663
Schedule of amortization of deferred lease costs and acquisition related intangibles	The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands): Year Ended December 31, 2019 2018 2017 Depreciation and amortization expense related to amortization of lease-up intangibles $ 148,509 $ 67,350 $ 76,732 Rental and related revenues related to amortization of net below market lease liabilities 6,471 5,253 2,030
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) Depreciation and Amortization (2) 2020 $ 8,876 $ 103,988 2021 8,034 51,516 2022 8,349 44,922 2023 7,783 39,020 2024 7,145 22,880 Thereafter 25,270 59,833 $ 65,457 $ 322,159 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related revenues. (2)

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of senior unsecured notes	The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2019 (dollars in thousands): Date Amount Coupon Rate Maturity Date November 21, 2019 $ 750,000 3.000 % 2030 July 5, 2019 $ 650,000 3.250 % 2026 July 5, 2019 $ 650,000 3.500 % 2029 There were no senior unsecured notes issuances for the years ended December 31, 2018 and 2017 .
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): Date Amount Coupon Rate Maturity Date Year ended December 31, 2019: November 21, 2019 (1) $ 350,000 4.000 % 2022 July 22, 2019 (2) $ 800,000 2.625 % 2020 July 8, 2019 (2) $ 250,000 4.000 % 2022 July 8, 2019 (2) $ 250,000 4.250 % 2023 Year ended December 31, 2018: November 8, 2018 $ 450,000 3.750 % 2019 July 16, 2018 (3) $ 700,000 5.375 % 2021 Year ended December 31, 2017: July 27, 2017 (4) $ 500,000 5.375 % 2021 May 1, 2017 $ 250,000 5.625 % 2017 _______________________________________ (1) The Company recognized a $22 million loss on debt extinguishment related to the repurchase of senior notes. (2) Upon completing the redemption of the 2.625% senior unsecured notes due February 2020 and repurchasing a portion of the 4.250% senior unsecured notes due 2023 and the 4.000% senior unsecured notes due 2022, the Company recognized a $35 million loss on debt extinguishment. (3) The Company recognized a $44 million loss on debt extinguishment related to the repurchase of senior notes. (4) The Company recognized a $54 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, 2019 (dollars in thousands): Senior Unsecured Notes (1) Mortgage Debt (2) Year Bank Line of Credit Commercial Paper Term Loan Amount Interest Rate Amount Interest Rate Total (3) 2020 $ — $ 93,000 $ — $ — — % $ 4,132 5.08 % $ 97,132 2021 — — — — — % 11,821 5.26 % 11,821 2022 — — — 300,000 3.37 % 3,886 — % 303,886 2023 — — — 550,000 4.37 % 4,069 — % 554,069 2024 — — 250,000 1,150,000 4.17 % 4,247 — % 1,404,247 Thereafter — — — 3,700,000 3.86 % 236,089 4.09 % 3,936,089 — 93,000 250,000 5,700,000 264,244 6,307,244 (Discounts), premium and debt costs, net — — (1,058 ) (52,007 ) 12,663 (40,402 ) — 93,000 248,942 5,647,993 276,907 6,266,842 Debt on assets held for sale (4) — — — — 32,289 32,289 $ — $ 93,000 $ 248,942 $ 5,647,993 $ 309,196 $ 6,299,131 _______________________________________ (1) Effective interest rates on the senior notes range from 3.14% to 6.87% with a weighted average effective interest rate of 3.94% and a weighted average maturity of seven years . (2) Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt range from 2.22% to 5.91% with a weighted average effective interest rate of 4.09% and a weighted average maturity of 13 years . (3) Excludes $85 million of other debt that has no scheduled maturities. Other debt represents (i) $52 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% . (4) Represents mortgage debt on assets held for sale with interest rates that ranged from 3.45% to 6.80% and matures in 2026, 2028, and 2044.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
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 obligations as the lessee under operating leases (see Note 6), at December 31, 2019 (in thousands): Amount Construction loan commitments (1) $ 25,050 Lease and other contractual commitments (2) 123,957 Development commitments (3) 237,295 Total $ 386,302 _______________________________________ (1) Represents commitments to finance development projects. (2) Represents the Company's commitments, as lessor, under signed leases and contracts for operating properties and includes allowances for tenant improvements and leasing commissions. Excludes allowances for tenant improvements related to developments in progress for which the Company has executed an agreement with a general contractor to complete the tenant improvements (recognized in the "Development commitments" line). (3) Represents construction and other commitments for developments in progress and includes allowances for tenant improvements of $88 million that the Company has provided as a lessor.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 2017 Dividend Reinvestment and Stock Purchase Plan 336 237 983 Conversion of DownREIT units 213 3 78 Exercise of stock options 152 120 32 Vesting of restricted stock units 468 401 419 Repurchase of common stock 162 141 157
Schedule of accumulated other comprehensive loss (in thousands)	The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2019 2018 Cumulative foreign currency translation adjustment (1) $ (1,023 ) $ (1,683 ) Unrealized gains (losses) on derivatives, net 1,314 (467 ) Supplemental Executive Retirement plan minimum liability and other (3,148 ) (2,558 ) Total accumulated other comprehensive income (loss) $ (2,857 ) $ (4,708 ) _______________________________________ (1) See Notes 4, 8, and 21 for a discussion of the U.K. JV transaction.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2019
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 amounts): Year Ended December 31, 2019 2018 2017 Numerator Net income (loss) $ 60,061 $ 1,073,474 $ 422,634 Noncontrolling interests' share in earnings (14,531 ) (12,381 ) (8,465 ) Net income (loss) attributable to Healthpeak Properties, Inc. 45,530 1,061,093 414,169 Less: Participating securities' share in earnings (1,543 ) (2,669 ) (1,156 ) Net income (loss) applicable to common shares $ 43,987 $ 1,058,424 $ 413,013 Numerator - Dilutive Net income (loss) applicable to common shares $ 43,987 $ 1,058,424 $ 413,013 Add: distributions on dilutive convertible units and other — 6,919 — Dilutive net income (loss) available to common shares $ 43,987 $ 1,065,343 $ 413,013 Denominator Basic weighted average shares outstanding 486,255 470,551 468,759 Dilutive potential common shares - equity awards 309 168 176 Dilutive potential common shares - forward equity agreements (1) 2,771 — — Dilutive potential common shares - DownREIT conversions — 4,668 — Diluted weighted average common shares 489,335 475,387 468,935 Earnings per common share Basic $ 0.09 $ 2.25 $ 0.88 Diluted $ 0.09 $ 2.24 $ 0.88 (1) Represents the current dilutive impact of 30 million shares of common stock under forward sales agreements that have not been settled as of December 31, 2019 . Based on the forward price of each agreement as of December 31, 2019 , issuance of all 30 million shares would result in approximately $1.00 billion of net proceeds.

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [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, 2019 (units in thousands): Restricted Stock Units Weighted Average Grant Date Fair Value Unvested at January 1, 2019 1,698 $ 27.13 Granted 652 32.33 Vested (468 ) 27.52 Forfeited (182 ) 31.37 Unvested at December 31, 2019 1,700 28.56

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 : Senior Housing Triple-Net SHOP Life Science Medical Office Other Non-reportable Corporate Non-segment Total Real estate revenues (1) $ 199,441 $ 725,171 $ 440,784 $ 571,530 $ 50,613 $ — $ 1,987,539 Operating expenses (4,565 ) (565,713 ) (107,472 ) (201,538 ) (82 ) — (879,370 ) NOI 194,876 159,458 333,312 369,992 50,531 — 1,108,169 Adjustments to NOI (2) 2,725 2,872 (22,120 ) (5,877 ) 1,342 — (21,058 ) Adjusted NOI 197,601 162,330 311,192 364,115 51,873 — 1,087,111 Addback adjustments (2,725 ) (2,872 ) 22,120 5,877 (1,342 ) — 21,058 Interest income — — — — 9,844 — 9,844 Interest expense (1,003 ) (7,519 ) (277 ) (434 ) — (216,386 ) (225,619 ) Depreciation and amortization (55,361 ) (214,590 ) (168,339 ) (214,669 ) (7,030 ) — (659,989 ) General and administrative — — — — — (92,966 ) (92,966 ) Transaction costs — — — — — (8,743 ) (8,743 ) Recoveries (impairments), net (43,859 ) (164,369 ) — (17,332 ) (377 ) — (225,937 ) Gain (loss) on sales of real estate, net 3,557 19,384 3,651 3,139 (6,831 ) — 22,900 Loss on debt extinguishment — — — — — (58,364 ) (58,364 ) Other income (expense), net — 160,886 — — 8,137 13,106 182,129 Income tax benefit (expense) — — — — — 17,262 17,262 Equity income (loss) from unconsolidated joint ventures — — — — (8,625 ) — (8,625 ) Net income (loss) $ 98,210 $ (46,750 ) $ 168,347 $ 140,696 $ 45,649 $ (346,091 ) $ 60,061 _______________________________________ (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, 2018 : 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 $ 547,375 $ 69,777 $ — $ 1,836,283 Operating expenses (3,618 ) (414,312 ) (91,742 ) (195,100 ) (266 ) — (705,038 ) NOI 272,473 133,664 303,322 352,275 69,511 — 1,131,245 Adjustments to NOI (2) 2,127 2,875 (9,589 ) (6,690 ) (627 ) — (11,904 ) Adjusted NOI 274,600 136,539 293,733 345,585 68,884 — 1,119,341 Addback adjustments (2,127 ) (2,875 ) 9,589 6,690 627 — 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 ) (200,430 ) (24,579 ) — (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 $ 155,799 $ 78,357 $ (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 : 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 $ 512,385 $ 81,920 $ — $ 1,792,141 Operating expenses (3,819 ) (396,491 ) (78,001 ) (187,688 ) (252 ) — (666,251 ) NOI 309,728 128,982 280,815 324,697 81,668 — 1,125,890 Adjustments to NOI (2) 17,098 33,227 (4,517 ) (5,405 ) (1,993 ) — 38,410 Adjusted NOI 326,826 162,209 276,298 319,292 79,675 — 1,164,300 Addback adjustments (17,098 ) (33,227 ) 4,517 5,405 1,993 — (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 ) (176,507 ) (22,373 ) — (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 Discontinued operations — — — — — — — Net income (loss) $ 461,149 $ 35,385 $ 197,494 $ 156,779 $ 33,100 $ (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.
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 2019 2018 2017 Senior housing triple-net $ 199,441 $ 276,091 $ 313,547 SHOP 725,171 547,976 525,473 Life science 440,784 395,064 358,816 Medical office 571,530 547,375 512,385 Other non-reportable segments 60,457 80,183 138,157 Total revenues $ 1,997,383 $ 1,846,689 $ 1,848,378
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, Segment 2019 2018 Senior housing triple-net $ 1,012,443 $ 2,965,679 SHOP 2,969,871 2,173,795 Life science 5,688,659 4,303,471 Medical office 4,761,357 4,603,794 Reportable segment assets 14,432,330 14,046,739 Accumulated depreciation and amortization (2,966,987 ) (2,997,012 ) Net reportable segment assets 11,465,343 11,049,727 Other non-reportable segment assets 1,233,752 847,921 Assets held for sale, net 504,394 108,086 Other non-segment assets 829,402 712,819 Total assets $ 14,032,891 $ 12,718,553

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 2017 Ordinary dividends (1) $ 0.7633 $ 0.9578 $ 1.4800 Capital gains 0.2714 0.5222 — Nondividend distributions 0.4453 — — $ 1.4800 $ 1.4800 $ 1.4800 _______________________________________ (1) For the year ended December 31, 2019 all $0.7633 of ordinary dividends qualified as business income for purposes of Code Section 199A. For the year ended December 31, 2018 the amount includes $0.9414 of qualified business income for purposes of Code Section 199A and $0.0164
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, 2019 2018 2017 Current Federal $ 261 $ (568 ) $ 949 State 729 4,003 1,504 Foreign — 84 1,737 Total current $ 990 $ 3,519 $ 4,190 Deferred Federal $ (16,061 ) $ (11,905 ) $ 2,730 State (2,191 ) (4,589 ) (5,889 ) Foreign — (4,879 ) (2,364 ) Total deferred $ (18,252 ) $ (21,373 ) $ (5,523 ) Total income tax expense (benefit) $ (17,262 ) $ (17,854 ) $ (1,333 )
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, 2019 2018 2017 Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax $ (20,923 ) $ (17,857 ) $ (21,085 ) State income tax expense, net of federal tax (3,845 ) (1,313 ) (1,222 ) Gross receipts and margin taxes 1,430 1,580 1,716 Foreign rate differential — 301 632 Effect of permanent differences 20 (34 ) 6 Return to provision adjustments 157 (278 ) 1,597 Remeasurement of deferred tax assets and liabilities — — 17,080 Increase (decrease) in valuation allowance 4,583 (253 ) (57 ) Change in tax status of TRS 1,316 — — Total income tax expense (benefit) $ (17,262 ) $ (17,854 ) $ (1,333 )
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, 2019 2018 2017 Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs $ 40,466 $ 31,034 $ 31,691 Net operating loss carryforward 33,771 20,559 10,720 Expense accruals and other 3,258 2,424 229 Valuation allowance (4,878 ) (295 ) (548 ) Net deferred tax assets $ 72,617 $ 53,722 $ 42,092
Schedule of income tax contingencies	The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2019 2018 2017 Total unrecognized tax benefits at January 1 $ — $ — $ — Gross amount of increases for prior years' tax positions 469 — — Total unrecognized tax benefits at December 31 $ 469 $ — $ —

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	The following table provides supplemental cash flow information (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental cash flow information: Interest paid, net of capitalized interest $ 201,784 $ 275,690 $ 309,111 Income taxes paid (refunded) 1,426 4,480 10,045 Capitalized interest 30,459 21,056 16,937 Supplemental schedule of non-cash investing and financing activities: Accrued construction costs 126,006 88,826 67,425 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 5,614 537 2,908 Net noncash impact from the consolidation of previously unconsolidated joint ventures 17,850 68,293 — Deconsolidation of noncontrolling interest in connection with RIDEA II transaction — — 58,061 Liabilities assumed with real estate acquisitions 172,565 8,457 5,425 Conversion of DFLs to real estate 350,540 — — Retained investment in connection with SWF SH JV 427,328 — — Seller financing provided on disposition of real estate asset 44,812 — —
Schedule of cash, cash equivalents and restricted cash	The following table summarizes cash, cash equivalents, and restricted cash (in thousands): December 31, 2019 2018 Cash and cash equivalents $ 144,232 $ 110,790 Restricted cash 40,425 29,056 Cash, cash equivalents and restricted cash $ 184,657 $ 139,846

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2019
Variable Interest Entities
Schedule of variable interest entities	The classification of the related assets and liabilities and the maximum loss exposure as a result of the Company’s involvement with these VIEs at December 31, 2019 was as follows (in thousands): VIE Type Asset/Liability Type Maximum Loss Exposure and Carrying Amount (1) VIE tenants - operating leases (2) Lease intangibles, net and straight-line rent receivables 497 CCRC OpCo Investments in unconsolidated joint ventures 164,271 Unconsolidated development joint ventures Loans receivable, net and Investments in unconsolidated joint ventures 24,171 Loan - seller financing Loans receivable, net 9,875 CMBS and LLC investment Marketable debt and LLC investment 34,854 _______________________________________ (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 and total liabilities include VIE assets and liabilities as follows (in thousands): December 31, 2019 2018 Assets Buildings and improvements $ 3,236,105 $ 1,949,582 Development costs and construction in progress 67,285 39,584 Land 526,576 151,746 Accumulated depreciation and amortization (568,574 ) (398,143 ) Net real estate 3,261,392 1,742,769 Investments in and advances to unconsolidated joint ventures — 1,550 Accounts receivable, net 11,986 7,904 Cash and cash equivalents 47,027 23,772 Restricted cash 13,596 3,399 Intangible assets, net 206,840 111,333 Right-of-use asset, net 92,664 — Other assets, net 52,124 43,149 Total assets $ 3,685,629 $ 1,933,876 Liabilities Mortgage debt $ 218,767 $ 44,598 Other debt 42,405 — Intangible liabilities, net 39,545 19,128 Lease liability 90,875 — Accounts payable and accrued liabilities 80,427 66,736 Deferred revenue 96,985 24,215 Total liabilities $ 569,004 $ 154,677

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Schedule of concentration of credit risk	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 2019 2018 2019 2018 2017 California 37 34 28 26 26 Texas 12 16 17 18 17

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 (3) 2018 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 190,579 $ 190,579 $ 62,998 $ 62,998 Marketable debt securities (2) 19,756 19,756 19,202 19,202 Bank line of credit and commercial paper (2) 93,000 93,000 80,103 80,103 Term loan (2) 248,942 248,942 — — Senior unsecured notes (1) 5,647,993 6,076,150 5,258,550 5,302,485 Mortgage debt (2) 276,907 280,373 138,470 136,161 Other debt (2) 84,771 84,771 90,785 90,785 Interest-rate swap liabilities (2) 553 553 1,310 1,310 _______________________________________ (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) 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, commercial paper, 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, 2019 and 2018 , there were no material transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments (dollars and GBP in thousands)	The following table summarizes the Company’s outstanding swap contracts as of December 31, 2019 (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 $ 42,000 3.820% BMA Swap Index $ (553 ) _____________________________ (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, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of selected quarterly information	The following table summarizes selected quarterly information for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts): Three Months Ended 2019 March 31 June 30 September 30 December 31 Total revenues $ 436,154 $ 491,567 $ 537,971 $ 531,691 Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures 62,395 (10,338 ) (40,926 ) 40,293 Net income (loss) 64,990 (9,980 ) (42,308 ) 47,359 Net income (loss) applicable to Healthpeak Properties, Inc. 61,470 (13,597 ) (45,863 ) 43,520 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings per common share 0.13 (0.03 ) (0.09 ) 0.09 Diluted earnings per common share 0.13 (0.03 ) (0.09 ) 0.09 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 (loss) income 43,237 92,928 102,926 834,383 Net (loss) income applicable to Healthpeak Properties, 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

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	Jan. 01, 2018USD ($)	Mar. 31, 2019facility	Dec. 31, 2019USD ($)facility	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)		Dec. 31, 2017USD ($)	[2]	Jan. 31, 2017USD ($)
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			$ 6,085,058		$ 5,944,439
Cumulative effect of new accounting principle					590	[1]	$ 79,144
Present value of lease liability			156,611
Right-of-use asset, net			172,486
Intangible assets, net			$ 331,693		305,079
RIDEA II
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage									40.00%
Equity method investments									$ 121,000
ASU 2016-02
Schedule of Equity Method Investments [Line Items]
Present value of lease liability				$ 153,000
Right-of-use asset, net				166,000
Accrued Rent				20,000
Intangible assets, net				33,000
Difference between Revenue Guidance in Effect before and after Topic 606 | ASU 2014-09
Schedule of Equity Method Investments [Line Items]
HCP’s capital	$ 79,000
Cumulative effect of change on beginning retained earnings	30,000
Difference between Revenue Guidance in Effect before and after Topic 606 | ASU 2014-09 | RIDEA II
Schedule of Equity Method Investments [Line Items]
Fair value of equity investment	$ 107,000
Cumulative Dividends In Excess Of Earnings
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle					$ 590	[1]	$ 79,144
Cumulative Dividends In Excess Of Earnings | ASU 2016-02
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle				$ 1,000
Medical office
Schedule of Equity Method Investments [Line Items]
Number of SH NNN facilities transitioned to RIDEA structure (in facilities) | facility		2	2
[1]	On January 1, 2019, the Company adopted a series of ASUs related to accounting for leases, and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.
[2]	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.

Master Transactions and Coope_2

Master Transactions and Cooperation Agreement with Brookdale (Details) $ in Thousands

Jan. 31, 2020USD ($)property

Oct. 31, 2019USD ($)propertylease

Mar. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Nov. 30, 2017USD ($)propertyfacility

Mar. 31, 2017USD ($)facility

Dec. 31, 2018propertyfacility

Sep. 30, 2018facility

Jun. 30, 2018facility

Mar. 31, 2018facility

Dec. 31, 2019USD ($)property

Dec. 31, 2018USD ($)property

Dec. 31, 2017USD ($)propertyfacility

Sep. 30, 2019property

Jun. 30, 2019property

Mar. 31, 2019property

Jan. 01, 2018USD ($)property

Real Estate Properties [Line Items]

Non-cash lease and management fee termination loss (income), net | $

$ 0

$ 0

$ 54,641

Payments to acquire additional interest in subsidiaries | $

$ 63,000

$ 32,000

Management fee rate

5.00%

Operating expenses | $

$ 879,370

$ 705,038

$ 666,251

RIDEA Facilities

Real Estate Properties [Line Items]

Ownership percentage (as a percent)

90.00%

Brookedale MTCA

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

19

19

Assets leased to others

Real Estate Properties [Line Items]

Number of assets sold or transitioned

37

Assets leased to others | RIDEA Facilities

Real Estate Properties [Line Items]

Number of real estate properties | facility

58

Other non-reportable segments

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

2

Other non-reportable segments | Assets leased to others | CCRC JV Investment

Real Estate Properties [Line Items]

Number of real estate properties

15

Senior housing triple-net

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

2

Number of properties disposed | facility

64

2

4

Total consideration for disposition of real estate | $

$ 1,125,000

Senior housing triple-net | Assets leased to others

Real Estate Properties [Line Items]

Number of real estate properties

43

78

Number of assets to be sold (in properties)

2

Right to sell, or transition, number of properties (in properties)

32

Rent concessions | $

$ 5,000

Number of properties with rent concessions (in properties)

3

Total consideration for disposition of real estate | $

$ 35,000

Number of assets sold or transitioned

17

Reduction in rental and related revenues | $

$ 20,000

Fair value inputs (in properties)

32

32

Senior housing triple-net | Assets leased to others | Brookedale MTCA

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

11

11

SHOP

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

7

1

1

9

Number of properties disposed | facility

2

11

8

2

5

SHOP | Brookedale MTCA

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

8

8

SHOP | Assets leased to others

Real Estate Properties [Line Items]

Number of assets sold or transitioned

20

SHOP | Assets leased to others | RIDEA Facilities

Real Estate Properties [Line Items]

Number of real estate properties | facility

36

Total consideration for disposition of real estate | $

$ 240,000

SHOP | Assets leased to others | Brookedale MTCA

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

4

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

Cap rate | Minimum

Real Estate Properties [Line Items]

Real estate capitalization rate

0.06

0.06

Cap rate | Maximum

Real Estate Properties [Line Items]

Real estate capitalization rate

0.07

0.07

Real estate | SHOP | Assets Under Management Agreements

Real Estate Properties [Line Items]

Operating expenses | $

$ 35,000

CCRC JV Investment

Real Estate Properties [Line Items]

Investment ownership percentage

49.00%

49.00%

CCRC JV

Real Estate Properties [Line Items]

Percent of noncontrolling interest acquired

10.00%

Brookedale MTCA

Real Estate Properties [Line Items]

Number of properties disposed

18

Cash proceeds | $

$ 385,000

Brookedale MTCA | 2019 Amended Master Lease

Real Estate Properties [Line Items]

Annual rent escalator

2.40%

Brookedale MTCA | CCRC JV Investment

Real Estate Properties [Line Items]

Number of real estate properties

15

Number of properties acquired

13

Brookedale MTCA | Assets leased to others | 2019 Amended Master Lease

Real Estate Properties [Line Items]

Number of leases to be terminated (in properties) | lease

1

Number of properties to be restructured

24

Percent of sales proceeds

6.50%

Number of properties to be reallocated

14

Amount of future rent to be paid | $

$ 20,000

Capital investment | $

$ 35,000

Annual percentage increase

7.00%

Capital investment term

5 years

Brookedale MTCA | Other non-reportable segments | Assets leased to others | CCRC JV Investment

Real Estate Properties [Line Items]

Number of real estate properties

13

Brookedale MTCA | CCRC JV Investment

Real Estate Properties [Line Items]

Investment ownership percentage

51.00%

Interest acquired

51.00%

Purchase cost | $

$ 1,060,000

Non-cash lease and management fee termination loss (income), net | $

$ 100,000

Number of assets to be sold (in properties)

2

Subsequent Event | SHOP

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

6

Subsequent Event | Brookedale MTCA | Assets leased to others | 2019 Amended Master Lease

Real Estate Properties [Line Items]

Number of assets to be sold (in properties)

2

Capital investment term

5 years

Subsequent Event | Brookedale MTCA | CCRC JV Investment

Real Estate Properties [Line Items]

Non-cash lease and management fee termination loss (income), net | $

$ 100,000

Real Estate Transactions - 2019

Real Estate Transactions - 2019 Real Estate Investments (Details)

Jan. 31, 2020USD ($)

Jan. 31, 2020USD ($)

Dec. 31, 2019USD ($)propertyasset

Jul. 31, 2019USD ($)propertyfacility

Jun. 30, 2019USD ($)property

May 31, 2019USD ($)property

Apr. 30, 2019USD ($)property

Nov. 30, 2018USD ($)

Jan. 31, 2017USD ($)

Dec. 31, 2019USD ($)

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Sep. 30, 2018USD ($)

Jun. 30, 2018USD ($)

Mar. 31, 2018USD ($)

Dec. 31, 2019USD ($)propertyasset

Dec. 31, 2018USD ($)property

Dec. 31, 2017USD ($)

Real Estate [Line Items]

Payments to acquire real estate

$ 21,000,000

Gain (loss) on sales of real estate, net

$ 11,000,000

$ 0

$ 11,000,000

$ 8,000,000

$ 95,000,000

$ 25,000,000

$ 22,900,000

925,985,000

$ 356,641,000

Long-term debt, gross

$ 6,307,244,000

$ 6,307,244,000

6,307,244,000

Gain on consolidation

$ 50,000,000

168,023,000

$ 9,154,000

0

Life science

Real Estate [Line Items]

Gain (loss) on sales of real estate, net

$ 45,000,000

SHOP

Real Estate [Line Items]

Gain (loss) on sales of real estate, net

$ 21,000,000

Senior housing

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire outstanding equity interests

$ 24,000,000

Investment ownership percentage

100.00%

100.00%

Gain on consolidation

$ 12,000,000

Gain on consolidation, tax

1,000,000

Life Science JVs

Real Estate [Line Items]

Payments to acquire real estate

$ 245,000,000

Number of properties acquired | property

2

Medical office

Real Estate [Line Items]

Gain (loss) on sales of real estate, net

$ 41,000,000

Life Science facility | Life science

Real Estate [Line Items]

Payments to acquire real estate

71,000,000

Land | Life science

Real Estate [Line Items]

Payments to acquire real estate

$ 27,000,000

Senior housing | Senior housing

Real Estate [Line Items]

Payments to acquire real estate

$ 284,000,000

$ 113,000,000

$ 445,000,000

Number of properties acquired | property

5

3

9

Mortgage debt

Real Estate [Line Items]

Long-term debt, gross

$ 112,000,000

$ 50,000,000

Boston | Life Science facility | Life science

Real Estate [Line Items]

Payments to acquire real estate

$ 228,000,000

Number of properties acquired | facility

4

Cambridge, Massachusetts | Life Science facility | Life science

Real Estate [Line Items]

Payments to acquire real estate

$ 333,000,000

Number of properties acquired | asset

1

Kansas | Medical office

Real Estate [Line Items]

Payments to acquire real estate

$ 15,000,000

Number of properties acquired | asset

1

Texas | Medical office

Real Estate [Line Items]

Payments to acquire real estate

$ 9,000,000

Number of properties acquired | property

1

San Diego | Life science

Real Estate [Line Items]

Number of properties acquired | property

1

San Diego | Life Science facility | Life science

Real Estate [Line Items]

Payments to acquire real estate

$ 16,000,000

Assets leased to others

Real Estate [Line Items]

Number of assets sold or transitioned | property

37

Assets leased to others | SHOP

Real Estate [Line Items]

Number of assets sold or transitioned | property

20

SHOP JV

Real Estate [Line Items]

Investment ownership percentage

54.00%

54.00%

54.00%

Purchase cost

$ 367,000,000

$ 367,000,000

$ 367,000,000

Partner's ownership percentage

46.50%

46.50%

46.50%

SHOP JV | SHOP

Real Estate [Line Items]

Investment ownership percentage

53.50%

53.50%

53.50%

Purchase cost

$ 790,000,000

$ 790,000,000

$ 790,000,000

SHOP JV | Assets leased to others | SHOP

Real Estate [Line Items]

Number of assets sold or transitioned | property

19

SHOP JV

Real Estate [Line Items]

Gain (loss) on deconsolidation

$ 161,000,000

Subsequent Event | Massachusetts | Life science

Real Estate [Line Items]

Payments to acquire real estate

$ 320,000,000

Nonrefundable deposit

$ 20,000,000

Real Estate Transactions - MSRE

Real Estate Transactions - MSREI MOB JV (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2018USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Payments to acquire real estate			$ 21,000
Net real estate		$ 11,033,055	10,209,450
Finite-lived intangible assets acquired		$ 157,000
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 contributed to joint venture | property	9
Contribution of property	$ 320,000
Number of properties acquired | property	16
Noncontrolling interest in variable interest entity			298,000
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
Finite-lived intangible assets acquired			$ 20,000

Real Estate Transactions - Life

Real Estate Transactions - Life Science JV Interest Purchase (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2018USD ($)propertyjoint_venture	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate [Line Items]
Payments to acquire real estate			$ 21,000
Gain (loss) on consolidation	$ 50,000	$ 168,023	$ 9,154	$ 0
Life Science JVs
Real Estate [Line Items]
Number of joint ventures | joint_venture	3
Number of properties acquired | property	4
Payments to acquire real estate	$ 92,000
Investment ownership percentage	100.00%

Real Estate Transactions - Othe

Real Estate Transactions - Other Real Estate Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Real Estate [Abstract]
Payments to acquire real estate	$ 21

Real Estate Transactions - Cons

Real Estate Transactions - Construction, Tenant, and Other Capital Improvements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 743,958	$ 607,186	$ 471,778
Senior housing triple-net
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	6,662	11,311	32,343
SHOP
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	90,874	53,389	49,473
Life science
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	499,956	396,431	240,901
Medical office
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 146,016	144,694	148,926
Number of properties to be developed | property	7
Other non-reportable segments
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 450	$ 1,361	$ 135
On-campus
Real estate acquisitions [Line Items]
Number of properties to be developed | property	6

Real Estate Transactions - Held

Real Estate Transactions - Held for Sale (Details) $ in Thousands	1 Months Ended				3 Months Ended								12 Months Ended
	Jan. 31, 2020USD ($)property	Oct. 31, 2019property	Mar. 31, 2017facility	Jan. 31, 2017facility	Dec. 31, 2019USD ($)property	Sep. 30, 2019USD ($)property	Jun. 30, 2019USD ($)property	Mar. 31, 2019USD ($)property	Dec. 31, 2018USD ($)propertyfacility	Sep. 30, 2018facility	Jun. 30, 2018facility	Mar. 31, 2018facility	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net					$ 504,394				$ 108,086				$ 504,394	$ 108,086
Accumulated depreciation and amortization					$ 2,771,922				$ 2,842,947				2,771,922	2,842,947
Proceeds from sale of buildings													$ 0	$ 335,709	$ 462,242
Senior housing triple-net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | facility			64								2				4
Number of assets to be sold (in properties) | property								2
Medical office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | facility										2					4
Number of assets to be sold (in properties) | property					4	1	5						4
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | facility									2	11	8	2			5
Number of assets to be sold (in properties) | property					7	1	1	9					7
Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | facility				4						4					1
Number of assets to be sold (in properties) | property							1	1
Held-for-sale | 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 | property					27								27
Held-for-sale | Medical office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property					2								2
Held-for-sale | SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property					28				9				28	9
Held-for-sale | Senior Housing Triple-Net and SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net					$ 504,000								$ 504,000
Held-for-sale | Life science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property									1					1
Held-for-sale | SH NNN, Life Science, SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net									$ 108,000					$ 108,000
Real estate | Held-for-sale | Senior Housing Triple-Net and SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net					476,000								476,000
Other liabilities					4,000								4,000
Debt on assets held for sale					32,000								32,000
Accumulated depreciation and amortization					243,000								$ 243,000
Real estate | Held-for-sale | SH NNN, Life Science, SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net									101,000					101,000
Accumulated depreciation and amortization									$ 30,000					$ 30,000
Brookedale MTCA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property		18
Subsequent Event | 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	6
SHOP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					$ 92,000	$ 7,000	$ 14,000	$ 68,000
SHOP | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings	$ 36,000

Real Estate Transactions - 20_2

Real Estate Transactions - 2019 Dispositions (Details)	1 Months Ended		3 Months Ended							12 Months Ended
	Mar. 31, 2017USD ($)	Jan. 31, 2017USD ($)	Dec. 31, 2019USD ($)property	Sep. 30, 2019USD ($)property	Jun. 30, 2019USD ($)property	Mar. 31, 2019USD ($)property	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate [Line Items]
Proceeds from sale of buildings										$ 0	$ 335,709,000	$ 462,242,000
Gain (loss) on sales of real estate, net			$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000	$ 95,000,000	$ 25,000,000		$ 22,900,000	$ 925,985,000	356,641,000
SHOP
Real Estate [Line Items]
Number of assets to be sold (in properties) | property			7	1	1	9				7
Gain (loss) on sales of real estate, net									$ 21,000,000
Senior housing triple-net
Real Estate [Line Items]
Number of assets to be sold (in properties) | property						2
Gain (loss) on sales of real estate, net	$ 170,000,000
Life science
Real Estate [Line Items]
Number of assets to be sold (in properties) | property					1	1
Gain (loss) on sales of real estate, net		$ 45,000,000
Medical office
Real Estate [Line Items]
Number of assets to be sold (in properties) | property			4	1	5					4
Gain (loss) on sales of real estate, net												$ 41,000,000
Other non-reportable segments
Real Estate [Line Items]
Number of assets to be sold (in properties) | property			2							2
SHOP
Real Estate [Line Items]
Proceeds from sale of buildings			$ 92,000,000	$ 7,000,000	$ 14,000,000	$ 68,000,000
Life science
Real Estate [Line Items]
Proceeds from sale of buildings					7,000,000	35,000,000
Senior housing triple-net
Real Estate [Line Items]
Proceeds from sale of buildings						$ 26,000,000
Medical office
Real Estate [Line Items]
Proceeds from sale of buildings			5,000,000	$ 3,000,000	$ 15,000,000
Other non-reportable segments
Real Estate [Line Items]
Proceeds from sale of buildings			$ 20,000,000

Real Estate Transactions - Shor

Real Estate Transactions - Shoreline Technology Center (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Proceeds from sale of buildings		$ 0	$ 335,709	$ 462,242
Shoreline Technology Center
Real Estate [Line Items]
Proceeds from sale of buildings	$ 1,000,000
Gain (loss) on sale of assets	$ 726,000

Real Estate Transactions - Broo

Real Estate Transactions - Brookdale MTCA Disposition (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Mar. 31, 2017USD ($)

Dec. 31, 2019USD ($)property

Sep. 30, 2019USD ($)property

Jun. 30, 2019USD ($)property

Mar. 31, 2019USD ($)property

Dec. 31, 2018USD ($)property

Sep. 30, 2018USD ($)

Jun. 30, 2018USD ($)

Mar. 31, 2018USD ($)

Dec. 31, 2019USD ($)property

Dec. 31, 2018USD ($)property

Dec. 31, 2017USD ($)

Nov. 30, 2017property

Real Estate [Line Items]

Proceeds from sale of buildings | $

$ 0

$ 335,709,000

$ 462,242,000

Gain (loss) on sales of real estate, net | $

$ 11,000,000

$ 0

$ 11,000,000

$ 8,000,000

$ 95,000,000

$ 25,000,000

$ 22,900,000

$ 925,985,000

$ 356,641,000

Brookedale MTCA

Real Estate [Line Items]

Number of assets to be sold (in properties)

19

19

Assets leased to others | Brookedale MTCA

Real Estate [Line Items]

Proceeds from sale of buildings | $

$ 377,000,000

Gain (loss) on sales of real estate, net | $

$ 40,000,000

Senior housing triple-net

Real Estate [Line Items]

Number of assets to be sold (in properties)

2

Gain (loss) on sales of real estate, net | $

$ 170,000,000

Senior housing triple-net | Assets leased to others

Real Estate [Line Items]

Number of assets to be sold (in properties)

2

Senior housing triple-net | Assets leased to others | Brookedale MTCA

Real Estate [Line Items]

Number of assets to be sold (in properties)

11

11

SHOP

Real Estate [Line Items]

Number of assets to be sold (in properties)

7

1

1

9

7

Gain (loss) on sales of real estate, net | $

$ 21,000,000

SHOP | Brookedale MTCA

Real Estate [Line Items]

Number of assets to be sold (in properties)

8

8

SHOP | Assets leased to others | Brookedale MTCA

Real Estate [Line Items]

Number of assets to be sold (in properties)

4

Real Estate Transactions - RIDE

Real Estate Transactions - RIDEA II Sale Transaction (Details) - USD ($)

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2018

Jan. 31, 2017

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Nov. 01, 2017

Real Estate [Line Items]

Gain (loss) on sales of real estate, net

$ 11,000,000

$ 0

$ 11,000,000

$ 8,000,000

$ 95,000,000

$ 25,000,000

$ 22,900,000

$ 925,985,000

$ 356,641,000

HCP/CPA/Brookdale JV

Real Estate [Line Items]

Debt provided

$ 602,000,000

Debt provided by third-party

360,000,000

Debt provided by entity

242,000,000

Net proceeds from the RIDEA II transaction

$ 480,000,000

RIDEA II

Real Estate [Line Items]

Investment ownership percentage

40.00%

Gain (loss) on sales of real estate, net

$ 99,000,000

RIDEA II | HCP/CPA/Brookdale JV

Real Estate [Line Items]

Investment ownership percentage

40.00%

RIDEA II | HCP/CPA/Brookdale JV

Real Estate [Line Items]

Debt provided by entity

$ 242,000,000

Consideration receivable from sale of ownership interest

$ 91,000,000

Proceeds from sale of asset

$ 332,000,000

Real Estate Transactions - U.K.

Real Estate Transactions - U.K. Portfolio (Details) £ in Millions	1 Months Ended			3 Months Ended						12 Months Ended
	Dec. 31, 2019USD ($)	Aug. 31, 2018GBP (£)	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2018GBP (£)
Real Estate [Line Items]
Assets	$ 14,032,891,000			$ 14,032,891,000						$ 14,032,891,000	$ 12,718,553,000
Gain (loss) on sales of real estate, net				$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000	$ 95,000,000	$ 25,000,000	$ 22,900,000	$ 925,985,000	$ 356,641,000
U.K. Portfolio
Real Estate [Line Items]
Interest sold	49.00%		51.00%
Assets			$ 507,000,000						$ 507,000,000				£ 382
Gross proceeds			402,000,000
Gain (loss) on sales of real estate, net			11,000,000
Foreign currency translation reclassified from OCI			$ 17,000,000
U.K. Portfolio
Real Estate [Line Items]
Noncontrolling interest (as a percent)			49.00%						49.00%				49.00%
U.K. Portfolio
Real Estate [Line Items]
Investments			$ 105,000,000						$ 105,000,000
Maria Mallaband Care Group loan
Real Estate [Line Items]
Proceeds from sale of receivables | £		£ 11

Real Estate Transactions - 2018

Real Estate Transactions - 2018 Other Dispositions (Details)	1 Months Ended		3 Months Ended								12 Months Ended
	Mar. 31, 2017USD ($)facility	Jan. 31, 2017USD ($)facility	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)facility	Sep. 30, 2018USD ($)facility	Jun. 30, 2018USD ($)facility	Mar. 31, 2018USD ($)facility	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)facility
Real Estate [Line Items]
Gain (loss) on sales of real estate, net			$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000		$ 95,000,000	$ 25,000,000		$ 22,900,000	$ 925,985,000	$ 356,641,000
SHOP
Real Estate [Line Items]
Number of properties disposed | facility							2	11	8	2			5
Proceeds from sale of real estate							$ 15,000,000	$ 76,000,000	$ 268,000,000	$ 35,000,000
Gain (loss) on sales of real estate, net										$ 21,000,000
Senior housing triple-net
Real Estate [Line Items]
Number of properties disposed | facility	64								2				4
Proceeds from sale of real estate									$ 35,000,000
Gain (loss) on sales of real estate, net	$ 170,000,000
Medical office
Real Estate [Line Items]
Number of properties disposed | facility								2					4
Proceeds from sale of real estate							$ 4,000,000	$ 21,000,000
Gain (loss) on sales of real estate, net													$ 41,000,000
Life science
Real Estate [Line Items]
Number of properties disposed | facility		4						4					1
Proceeds from sale of real estate								$ 269,000,000
Gain (loss) on sales of real estate, net		$ 45,000,000
Land | Life science
Real Estate [Line Items]
Number of properties disposed | facility							1
Proceeds from sale of real estate							$ 3,000,000

Real Estate Transactions - 2017

Real Estate Transactions - 2017 Dispositions (Details)	1 Months Ended		3 Months Ended								12 Months Ended
	Mar. 31, 2017USD ($)facility	Jan. 31, 2017USD ($)facility	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018facility	Sep. 30, 2018USD ($)facility	Jun. 30, 2018USD ($)facility	Mar. 31, 2018USD ($)facility	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)facility
Real Estate [Line Items]
Gain (loss) on sales of real estate, net			$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000		$ 95,000,000	$ 25,000,000		$ 22,900,000	$ 925,985,000	$ 356,641,000
Life science
Real Estate [Line Items]
Number of properties disposed | facility		4						4					1
Total consideration for disposition of real estate		$ 76,000,000
Gain (loss) on sales of real estate, net		$ 45,000,000
Senior housing triple-net
Real Estate [Line Items]
Number of properties disposed | facility	64								2				4
Total consideration for disposition of real estate	$ 1,125,000,000
Proceeds from sales of real estate													$ 27,000,000
Gain (loss) on sales of real estate, net	$ 170,000,000
SHOP
Real Estate [Line Items]
Number of properties disposed | facility							2	11	8	2			5
Proceeds from sales of real estate													$ 43,000,000
Gain (loss) on sales of real estate, net										$ 21,000,000
Medical office
Real Estate [Line Items]
Number of properties disposed | facility								2					4
Proceeds from sales of real estate													$ 15,000,000
Gain (loss) on sales of real estate, net													41,000,000
Land | Life science
Real Estate [Line Items]
Number of properties disposed | facility							1
Total consideration for disposition of real estate													27,000,000
Building | Life science
Real Estate [Line Items]
Proceeds from sales of real estate													$ 5,000,000

Impairments (Details)

Impairments (Details) $ / item in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)$ / itemproperty	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net		$ 225,937	$ 55,260	$ 166,384
Number of real estate properties impaired | property		3
Asset impairment charge		$ 18,000
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
Senior Housing Triple Net, SHOP, MOB, and Other Non-Reportable
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net		$ 194,000
SHOP
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net	$ 10,000		$ 52,000
Number of real estate properties impaired | property		27	17
Number Of real estate properties impaired, candidates for potential sale | property		1
Casualty-Related
Impairment of real estate		$ 5,000
SHOP | Underperformed assets
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property			3
Senior housing triple-net
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net				$ 23,000
Number of real estate properties impaired | property		8		11
Medical office
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments (recoveries), net		$ 4,000
Number of real estate properties impaired | property		3
Number of properties intended to be demolished | property		1
Number Of real estate properties impaired, candidates for potential sale | property		2
Other non-reportable segments
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property		1
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 | property			1
Held-for-sale | SHOP
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale | property		28	9
Held-for-sale | Senior housing triple-net
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale | property		27
Held-for-sale | Medical office
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties classified as held for sale | 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 | property			1
Seven Shop Assets, Four Senior Housing Triple-net Assets, Two MOBs, and One Other Non-Reportable Asset
Impaired Long-Lived Assets Held and Used [Line Items]
Aggregate carrying value before impairment		$ 416,000
Real estate held-for-sale		$ 223,000
Minimum
Impaired Long-Lived Assets Held and Used [Line Items]
Market capitalization rate		4.97%
Price per unit (in dollars per share) | $ / item		24
Maximum
Impaired Long-Lived Assets Held and Used [Line Items]
Market capitalization rate		8.27%
Price per unit (in dollars per share) | $ / item		125
Weighted Average
Impaired Long-Lived Assets Held and Used [Line Items]
Market capitalization rate		6.22%
Price per unit (in dollars per share) | $ / item		73

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Fixed income from operating leases	$ 984,942	$ 1,013,757	$ 944,796
Variable income from operating leases	237,136	223,479	268,853
Interest income from direct financing leases	$ 37,481	$ 54,274	$ 54,217

Leases - Components of Net Inve

Leases - Components of Net Investment in DFLs (Details) $ in Thousands	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)property
Leases [Abstract]
Present value of minimum lease payments receivable	$ 19,138
Present value of estimated residual value	84,604
Less deferred selling profits	(19,138)
Net investment in direct financing leases before allowance	84,604
Allowance for direct financing lease losses	0
Net investment in direct financing leases	$ 84,604	$ 713,818
Properties subject to direct financing leases	2	29
Minimum lease payments receivable		$ 1,013,976
Estimated residual value		507,484
Less unearned income		$ (807,642)

Leases - Internal Ratings For N

Leases - Internal Ratings For Net Investment, DFLs (Details) $ in Thousands	Dec. 31, 2019USD ($)
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	$ 84,604
Percentage of DFL Portfolio	100.00%
Other non-reportable segments
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	$ 84,604
Percentage of DFL Portfolio	100.00%
Performing Financial Instruments
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	$ 84,604
Performing Financial Instruments | Other non-reportable segments
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	84,604
Watch List DFLs
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	0
Watch List DFLs | Other non-reportable segments
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	0
Workout DFLs
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	0
Workout DFLs | Other non-reportable segments
Lessor, Lease, Description [Line Items]
Net investment in direct financing leases before allowance	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)facility	Mar. 31, 2019USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)
Capital Leased Assets [Line Items]
Conversion of DFLs to real estate			$ 350,540	$ 0	$ 0
Intangible assets, net			$ 331,693	$ 305,079
Properties subject to direct financing leases (in properties)			2	29
Impairments (recoveries), net			$ 225,937	$ 55,260	166,384
Senior housing triple-net
Capital Leased Assets [Line Items]
Impairments (recoveries), net					$ 23,000
SHOP
Capital Leased Assets [Line Items]
Number of leases disposed of (in facilities) | facility	13
Proceeds from sale of lease receivables	$ 274,000
Impairments (recoveries), net	$ 10,000			$ 52,000
DFL Portfolio | Watch List DFLs | Senior housing triple-net
Capital Leased Assets [Line Items]
Properties with derecognized carrying value during the period (in properties) | property		14
Conversion of DFLs to real estate		$ 351,000
DFL Portfolio | Watch List DFLs | SHOP
Capital Leased Assets [Line Items]
Properties subject to direct financing leases (in properties) | property		14
DFL Portfolio | Real Estate Investment | Watch List DFLs | SHOP
Capital Leased Assets [Line Items]
Real Estate Investment Property, at Cost		$ 331,000
DFL Portfolio | Finite-Lived Intangible Assets | Watch List DFLs | SHOP
Capital Leased Assets [Line Items]
Intangible assets, net		$ 20,000

Leases - Direct Financing Lease

Leases - Direct Financing Lease Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Income from DFLs	$ 17,287	$ 23,616	$ 23,820
Cash payments received	$ 16,005	$ 19,633	$ 19,494

Leases - Future Minimum Rents,

Leases - Future Minimum Rents, DFLs (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
DFL, 842
2020	$ 9,553
2021	8,409
2022	1,176
2023	0
2024	0
Thereafter	0
Undiscounted minimum lease payments receivable	19,138
Less: imputed interest	0
Present value of minimum lease payments receivable	$ 19,138
DFL, 840
2019		$ 114,970
2020		63,308
2021		63,687
2022		58,135
2023		58,570
Thereafter		655,306
Future minimum payments receivable		$ 1,013,976

Leases - Future Minimum Rents (

Leases - Future Minimum Rents (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating Lease, 842
2020	$ 998,376
2021	968,622
2022	904,799
2023	822,259
2024	708,871
Thereafter	2,522,333
Total	$ 6,925,260
Operating Lease, 840
2019		$ 971,417
2020		928,102
2021		853,451
2022		751,972
2023		675,537
Thereafter		2,320,847
Total		$ 6,501,326

Leases - Tenant Purchase Option

Leases - Tenant Purchase Options (Details) $ in Thousands	Dec. 31, 2019USD ($)property
Leases [Abstract]
2020	$ 17,219
2021	27,947
2022	10,924
2023	0
2024	2,924
Thereafter	25,022
Total	$ 84,036
Leases with Purchase Option Future Minimum Annualized Payments Receivable Number of Properties [Abstract]
2020 | property	10
2021 | property	7
2022 | property	3
2023 | property	0
2024 | property	1
Thereafter | property	19
Total | property	40
Purchase options land	$ 226,000

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Total lease expense	$ 16,238	$ 14,783	$ 13,674
Operating cash flows for operating leases	12,727	11,655	10,745
ROU asset obtained in exchange for new lease liability, operating leases	$ 5,733	$ 0	$ 0
Weighted average remaining lease term, operating leases	51 years
Weighted average discount rate, operating leases	4.36%

Leases - Future Lease Obligatio

Leases - Future Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating Lease, 842
2020	$ 9,407
2021	9,208
2022	9,045
2023	8,985
2024	7,139
Thereafter	451,790
Undiscounted minimum lease payments included in the lease liability	495,574
Less: imputed interest	(338,963)
Present value of lease liability	$ 156,611
Operating Lease, 840
2019		$ 5,597
2020		5,687
2021		5,776
2022		5,862
2023		5,983
Thereafter		466,130
Total		$ 495,035

Leases - Depreciation Expense (

Leases - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
General and Administrative Expense
Lessor, Lease, Description [Line Items]
Depreciation expense related to corporate assets	$ 2	$ 4	$ 1
Other Assets
Lessor, Lease, Description [Line Items]
Accumulated depreciation related to corporate assets	$ 4	$ 2

Loans Receivable - Schedule of

Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loans receivable
Loans and Leases Receivable, Remaining Commitments		$ 73,000
Mezzanine	$ 27,752	21,013
Participating development loans and other	161,964	42,037
Unamortized discounts, fees, and costs	863	(52)
Loans receivable, net	190,579	62,998
Remaining commitments to fund development projects	174,000	115,000
Real Estate Secured
Loans receivable
Mezzanine	0	0
Participating development loans and other	161,964	42,037
Unamortized discounts, fees, and costs	0	0
Loans receivable, net	161,964	42,037
Other Secured
Loans receivable
Mezzanine	27,752	21,013
Participating development loans and other	0	0
Unamortized discounts, fees, and costs	863	(52)
Loans receivable, net	$ 28,615	$ 20,961

Loans Receivable - Internal Rat

Loans Receivable - Internal Ratings for Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 190,579	$ 62,998
Percentage of Loan Portfolio	100.00%
Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 190,579
Watch List Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	0
Workout DFLs
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	0
Real Estate Secured
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 161,964	42,037
Percentage of Loan Portfolio	85.00%
Real Estate Secured | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 161,964
Real Estate Secured | Watch List Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	0
Real Estate Secured | Workout DFLs
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	0
Other Secured
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 28,615	$ 20,961
Percentage of Loan Portfolio	15.00%
Other Secured | Performing Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 28,615
Other Secured | Watch List Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	0
Other Secured | Workout DFLs
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, net	$ 0

Loans Receivable - Loans Receiv

Loans Receivable - Loans Receivable Secured by Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Loans receivable
Number of Loans (in loans) | loan	5
Face Amount of Mortgages	$ 161,964
Carrying Amount	161,964	$ 42,037	$ 188,418	$ 196,359
Interest income	$ 9,844	$ 10,406	$ 56,237
Mortgage loan on real estate, Texas due 2021
Loans receivable
Number of Loans (in loans) | loan	1
Face Amount of Mortgages	$ 2,250
Carrying Amount	$ 2,250
Interest Rate	7.50%
Mortgage loan on real estate, Florida due 2021
Loans receivable
Number of Loans (in loans) | loan	1
Face Amount of Mortgages	$ 8,290
Carrying Amount	$ 8,290
Interest Rate	7.50%
Mortgage loan on real estate, Washington due 2022
Loans receivable
Number of Loans (in loans) | loan	1
Face Amount of Mortgages	$ 102,412
Carrying Amount	$ 102,412
Interest Rate	6.50%
Percent of appreciation Company may participate in	0.20
Mortgage loan on real estate, Illinois due 2022
Loans receivable
Number of Loans (in loans) | loan	1
Face Amount of Mortgages	$ 4,200
Carrying Amount	$ 4,200
Interest Rate	5.75%
Mortgage loan on real estate, Florida due 2026
Loans receivable
Number of Loans (in loans) | loan	1
Face Amount of Mortgages	$ 44,812
Carrying Amount	$ 44,812
Interest Rate	2.00%
Real Estate Secured
Loans receivable
Interest income	$ 6,000
LIBOR | Mortgage loan on real estate, Florida due 2026
Loans receivable
Interest Rate	4.25%

Loans Receivable - Four Seasons

Loans Receivable - Four Seasons Health Care (Details) £ in Millions	1 Months Ended			12 Months Ended
	Dec. 31, 2019USD ($)property	Mar. 31, 2017USD ($)	Mar. 31, 2017GBP (£)	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2019property	Jun. 30, 2019property	Mar. 31, 2019property
Loans receivable
Interest income				$ 9,844,000	$ 10,406,000	$ 56,237,000
Proceeds from sale of buildings				0	335,709,000	462,242,000
Net cash provided by (used in) financing activities				647,271,000	$ (2,620,536,000)	$ (2,148,461,000)
Four Seasons
Loans receivable
Proceeds from sale of HTM security		$ 101,000,000	£ 83
Real Estate Secured
Loans receivable
Interest income				$ 6,000,000
Discounted cash flows | Level 2 | Four Seasons
Loans receivable
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss)		$ 51,000,000	42
FLORIDA | Four Seasons
Loans receivable
Amortized cost on HTM security, before OTTI | £			£ 138.5
SHOP
Loans receivable
Number of assets to be sold (in properties) | property	7			7			1	1	9
SHOP | FLORIDA
Loans receivable
Number of assets to be sold (in properties) | property	2			2
Proceeds from sale of buildings	$ 56,000,000
Net cash provided by (used in) financing activities	45,000,000
Redevelopment funding	$ 10,000,000
Percent of estimated cost of redevelopment	80.00%

Loans Receivable - Tandem Healt

Loans Receivable - Tandem Health Care Loan (Details) - USD ($)	Jul. 31, 2017	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	May 31, 2015
Loans receivable
Loans receivable, other			$ 42,037,000		$ 161,964,000
Loans receivable, net			62,998,000		$ 190,579,000
Tandem Health Care Loan
Loans receivable
Write down of loans receivable				$ 144,000,000
Loans receivable, net				105,000,000
Interest income related to loans			0	$ 23,000,000
Cash payments received from borrower	$ 25,000,000		$ 0
Proceeds from sale of loans receivable		$ 112,000,000
Impairment recovery		$ 3,000,000
Maximum | Tandem Health Care Loan
Loans receivable
Loans receivable, other						$ 257,000,000

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 ($)property	Mar. 31, 2018GBP (£)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2016GBP (£)property
Loans receivable
Loans receivable, net | $				$ 190,579	$ 62,998
Derecognition of U.K. Bridge Loan receivable | $				$ 0	$ 147,474	$ 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				7	7
Period of call-option retained						3 years	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, £ in Millions	1 Months Ended			3 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2019	Dec. 31, 2019property	Dec. 31, 2019joint_venture	Dec. 31, 2019USD ($)	Oct. 31, 2019	Dec. 31, 2018USD ($)joint_venture
Schedule of Equity Method Investments [Line Items]
Advances to unconsolidated joint ventures, net								$ 76		$ 71
Investments in and advances to unconsolidated joint ventures								825,515		540,088
SHOP JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		54.00%	54.00%	54.00%	54.00%
Equity method investments								428,258		0
Number of unconsolidated joint ventures (in joint ventures) | property						19
CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		49.00%	49.00%	49.00%	49.00%				49.00%
Equity method investments								325,830		365,764
Number of unconsolidated joint ventures (in joint ventures) | property						15
U.K. JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		49.00%	49.00%	49.00%	49.00%
Equity method investments								0		101,735
Number of unconsolidated joint ventures (in joint ventures) | property						0
Proceeds from sale of equity method investments		$ 91,000	£ 70
MBK JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		50.00%	50.00%	50.00%	50.00%
Equity method investments								33,415		35,435
Number of unconsolidated joint ventures (in joint ventures) | property						4
Unconsolidated development joint ventures
Schedule of Equity Method Investments [Line Items]
Equity method investments								26,876		25,493
Number of unconsolidated joint ventures (in joint ventures) | property						5
Unconsolidated development joint ventures | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		41.00%	41.00%	41.00%	41.00%
Unconsolidated development joint ventures | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		90.00%	90.00%	90.00%	90.00%
Waldwick
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		85.00%	85.00%	85.00%	85.00%
Otay Ranch
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		90.00%	90.00%	90.00%	90.00%
MBK Development JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		50.00%	50.00%	50.00%	50.00%
Discovery Naples JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		41.00%	41.00%	41.00%	41.00%
Preferred equity method investment, return percentage					10.00%
Discovery Sarasota JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		47.00%	47.00%	47.00%	47.00%
Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Equity method investments								9,845		10,160
Number of unconsolidated joint ventures (in joint ventures)						3	3
Medical Office JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		20.00%	20.00%	20.00%	20.00%
Medical Office JVs | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		67.00%	67.00%	67.00%	67.00%
HCP Ventures IV, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		20.00%	20.00%	20.00%	20.00%
H C P Ventures III, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		30.00%	30.00%	30.00%	30.00%
Suburban Properties, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		67.00%	67.00%	67.00%	67.00%
K&Y JVs
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		80.00%	80.00%	80.00%	80.00%
Equity method investments								$ 1,215		$ 1,430
Number of unconsolidated joint ventures (in joint ventures)						2	1			3
Proceeds from sale of equity method investments				$ 4,000
Subsequent Event | K&Y JVs
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments	$ 12,000

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Joint Ventures - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Real estate, net	$ 11,033,055	$ 10,209,450
Other assets, net	646,491	591,017
Total assets	14,032,891	12,718,553
Mortgage and other debt	6,299,131
Accounts payable and accrued liabilities	456,153	391,583
Partners' capital	6,667,474	6,512,591	$ 5,594,938	$ 5,941,308
Total liabilities and equity	14,032,891	12,718,553
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Real estate, net	2,278,743	2,128,147
Other assets, net	511,014	479,935
Total assets	2,789,757	2,608,082
Mortgage and other debt	552,824	827,622
Accounts payable and accrued liabilities	591,498	655,177
Total liabilities and equity	2,789,757	2,608,082
HCP Inc | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Partners' capital	889,076	609,492
Other partners | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Partners' capital	$ 756,359	$ 515,791

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, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Total revenues	$ 531,691	$ 537,971	$ 491,567	$ 436,154	$ 441,919	$ 456,022	$ 469,551	$ 479,197	$ 1,997,383	$ 1,846,689	$ 1,848,378
Operating expenses									(879,370)	(705,038)	(666,251)
Income (loss) from discontinued operations											0
Net income (loss)	$ 47,359	$ (42,308)	$ (9,980)	$ 64,990	$ 834,383	$ 102,926	$ 92,928	$ 43,237	60,061	1,073,474	422,634
Distributions received by Healthpeak Properties, Inc.									20,114	22,467	44,142
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Total revenues									523,684	642,724	810,216
Operating expenses									(381,257)	(492,784)	(643,452)
Income (loss) from discontinued operations									(50,872)	(43,704)	(42,408)
Fees earned by Healthpeak Properties, Inc.									169	125	133
Distributions received by Healthpeak Properties, Inc.									47,186	48,939	81,165
HCP Inc | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Net income (loss)									$ (8,625)	$ (2,594)	$ 10,901

Investments in and Advances t_6

Investments in and Advances to Unconsolidated Joint Ventures - Narrative (Details) £ in Millions	1 Months Ended		3 Months Ended						12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)property	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Oct. 31, 2019property
Schedule of Equity Method Investments [Line Items]
Impairment charge									$ 6,000,000
Gain (loss) on sales of real estate, net			$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000	$ 95,000,000	$ 25,000,000	22,900,000	$ 925,985,000	$ 356,641,000
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Aggregate unamortized basis difference	$ (64,000,000)		$ (64,000,000)						$ (64,000,000)	$ (69,000,000)
CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Number of properties classified as held for sale | property				1
Impairment charge				$ 12,000,000
Investment ownership percentage	49.00%		49.00%						49.00%			49.00%
U.K. JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	49.00%		49.00%						49.00%
Proceeds from sale of equity method investments	$ 91,000,000	£ 70
Loss on sale of properties	7,000,000
Gain (loss) on sales of real estate, net	$ 1,000,000
Brookedale MTCA | CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage												51.00%
CCRC JV Investment | Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property												15
Assets leased to others | Other non-reportable segments | CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property												15
Assets leased to others | Other non-reportable segments | CCRC JV Investment | Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property												13

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangibles Lease Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Intangibles
Gross intangible lease assets	$ 615,538	$ 556,114
Accumulated depreciation and amortization	(283,845)	(251,035)
Intangible assets, net	$ 331,693	$ 305,079

Intangibles - Schedule of Int_2

Intangibles - Schedule of Intangible Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Intangibles [Abstract]
Gross intangible lease liabilities	$ 113,213	$ 94,444
Accumulated depreciation and amortization	(38,222)	(39,781)
Intangible liabilities, net	$ 74,991	$ 54,663

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 157,000
Intangible liabilities acquired	$ 33,000
Acquired finite-lived intangible assets, weighted average useful life (in years)	3 years
Acquired finite-lived intangible liabilities, weighted average useful life (in years)	8 years
Finite-Lived Intangible Assets, Net	$ 331,693		$ 305,079
Intangible liabilities, net	$ (74,991)		$ (54,663)
Accounting Standards Update 2016-12
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net		$ (39,000)
Intangible liabilities, net		$ 6,000

Intangibles - Amortization of D

Intangibles - Amortization of Deferred Leasing Costs and Acquisition Related Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangibles
Depreciation and amortization expense related to amortization of lease-up intangibles	$ 148,509	$ 67,350	$ 76,732
Rental and related revenues related to amortization of net below market lease liabilities	$ 6,471	$ 5,253	$ 2,030

Intangibles - Estimated Aggrega

Intangibles - Estimated Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Estimated aggregate amortization of Intangible Assets
Intangible assets, net	$ 331,693	$ 305,079
Rental and Related Revenues
Estimated aggregate amortization of Intangible Assets
2020	8,876
2021	8,034
2022	8,349
2023	7,783
2024	7,145
Thereafter	25,270
Intangible assets, net	65,457
Depreciation and Amortization
Estimated aggregate amortization of Intangible Assets
2020	103,988
2021	51,516
2022	44,922
2023	39,020
2024	22,880
Thereafter	59,833
Intangible assets, net	$ 322,159

Debt - Bank Line of Credit and

Debt - Bank Line of Credit and Term Loans (Details) £ in Millions	May 23, 2019USD ($)renewal_option	Jul. 03, 2018USD ($)	Jul. 03, 2018GBP (£)	Nov. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	May 31, 2019USD ($)
Debt Instrument [Line Items]
Bank line of credit and commercial paper					$ 93,000,000		$ 80,103,000
Proceeds from bank debt					2,047,069,000		223,587,000	$ 5,395,000
Long-term debt					$ 248,942,000		$ 0
2015 Term Loan
Debt Instrument [Line Items]
Repayments of debt			£ 169	$ 224,000,000
Proceeds from bank debt		$ 224,000,000
Line of Credit and Term Loan
Debt Instrument [Line Items]
Debt instrument, covenant debt to assets (as a percent)					60.00%
Debt instrument, covenant secured debt to assets (as a percent)					40.00%
Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)					60.00%
Debt instrument, covenant minimum fixed charge coverage ratio					1.5
Debt instrument, covenant net worth					$ 7,000,000,000
Revolving Credit Facility | Bank Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,500,000,000
Number of extensions (in renewal options) | renewal_option	2
Length of debt instrument extension period	6 months
Debt instrument, facility fee (as a percent)					0.15%	0.15%
Bank line of credit and commercial paper					$ 0
Line of credit facility additional aggregate amount, maximum					750,000,000
Repayments of debt					$ 72,000,000	£ 55
Revolving Credit Facility | Bank Line of Credit | LIBOR
Debt Instrument [Line Items]
Loan, basis spread on variable rate					0.825%	0.825%
2019 Term Loan | Bank Line of Credit
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)					2.79%
Face amount									$ 250,000,000
2019 Term Loan | Bank Line of Credit | LIBOR
Debt Instrument [Line Items]
Loan, basis spread on variable rate					0.90%	0.90%
Commercial Paper Program
Debt Instrument [Line Items]
Short-term debt					$ 93,000,000
Weighted-average interest rate (as a percent)					2.04%

Debt - Commercial Paper Program

Debt - Commercial Paper Program (Details) - Commercial Paper Program - USD ($)	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000,000
Term of facility	31 days
Short-term debt	$ 93,000,000
Weighted-average interest rate (as a percent)	2.04%

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) - USD ($)	Nov. 21, 2019	Jul. 22, 2019	Jul. 08, 2019	Nov. 08, 2018	Jul. 16, 2018	Jul. 27, 2017	May 01, 2017	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jul. 05, 2019
Debt Instrument [Line Items]
Long-term debt, gross								$ 6,307,244,000	$ 6,307,244,000
Senior unsecured notes								5,647,993,000	5,647,993,000	$ 5,258,550,000
Loss on extinguishment of debt									58,364,000	44,162,000	$ 54,227,000
Unsecured Note 4.000%
Debt Instrument [Line Items]
Repayment of senior unsecured notes	$ 350,000,000		$ 250,000,000
Interest rate (as a percent)	4.00%		4.00%
Loss on extinguishment of debt								35,000,000	22,000,000
Unsecured Note 5.375 Percent [Member]
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	54,000,000
Senior Unsecured Debt 5.625%
Debt Instrument [Line Items]
Repayment of senior unsecured notes		$ 800,000,000					$ 250,000,000
Interest rate (as a percent)		2.625%					5.625%
Unsecured Note 4.250 Percent
Debt Instrument [Line Items]
Repayment of senior unsecured notes			$ 250,000,000
Interest rate (as a percent)			4.25%
Unsecured Note 3.750 Percent
Debt Instrument [Line Items]
Repayment of senior unsecured notes				$ 450,000,000
Interest rate (as a percent)				3.75%
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross								$ 5,700,000,000	$ 5,700,000,000
Senior unsecured notes										$ 0	$ 0
Unsecured Debt | Senior Unsecured Notes Due 2030
Debt Instrument [Line Items]
Face amount	$ 750,000,000
Interest rate (as a percent)	3.00%
Unsecured Debt | Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Face amount												$ 650,000,000
Interest rate (as a percent)												3.25%
Unsecured Debt | Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Face amount												$ 650,000,000
Interest rate (as a percent)												3.50%
Unsecured Debt | Senior Unsecured Notes Due 2020
Debt Instrument [Line Items]
Interest rate (as a percent)								2.625%	2.625%
Unsecured Debt | Senior Notes Due 2023
Debt Instrument [Line Items]
Interest rate (as a percent)								4.25%	4.25%
Unsecured Debt | Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate (as a percent)								4.00%	4.00%

Debt - Mortgage Debt (Details)

Debt - Mortgage Debt (Details) $ in Thousands	1 Months Ended
	Jul. 31, 2019USD ($)property	Jun. 30, 2019property	May 31, 2019USD ($)property	Apr. 30, 2019property	Dec. 31, 2019USD ($)facility
Debt Instrument [Line Items]
Long-term debt, gross					$ 6,307,244
Mortgage debt
Debt Instrument [Line Items]
Long-term debt, gross					$ 264,244
Number of healthcare facilities used to secure debt (in facilities) | facility					17
Debt instrument, collateral, healthcare facilities carrying value					$ 511,000
Weighted-average interest rate (as a percent)					4.09%
Senior housing
Debt Instrument [Line Items]
Number of properties acquired | property		1
Senior housing | Senior housing
Debt Instrument [Line Items]
Number of properties acquired | property	5		3	9
Mortgage debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 112,000		$ 50,000
Weighted-average interest rate (as a percent)	4.89%		4.83%

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jul. 31, 2019	May 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,307,244
(Discounts), premiums and debt costs, net	(40,402)
Long-term debt, excluding disposal group	6,266,842
Long-term debt	6,299,131
Other debt	84,771			$ 90,785
Debt maturing in 2020
Debt Instrument [Line Items]
2020	97,132
Debt maturing in 2021
Debt Instrument [Line Items]
2021	11,821
Debt maturing in 2022
Debt Instrument [Line Items]
2022	303,886
Debt maturing in 2023
Debt Instrument [Line Items]
2023	554,069
Debt maturing in 2024
Debt Instrument [Line Items]
2024	1,404,247
Thereafter
Debt Instrument [Line Items]
Thereafter	3,936,089
Bank Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	0
(Discounts), premiums and debt costs, net	0
Long-term debt, excluding disposal group	0
Bank Line of Credit | Debt maturing in 2020
Debt Instrument [Line Items]
2020	0
Bank Line of Credit | Debt maturing in 2021
Debt Instrument [Line Items]
2021	0
Bank Line of Credit | Debt maturing in 2022
Debt Instrument [Line Items]
2022	0
Bank Line of Credit | Debt maturing in 2023
Debt Instrument [Line Items]
2023	0
Bank Line of Credit | Debt maturing in 2024
Debt Instrument [Line Items]
2024	0
Bank Line of Credit | Thereafter
Debt Instrument [Line Items]
Thereafter	0
Commercial Paper
Debt Instrument [Line Items]
Long-term debt, gross	93,000
(Discounts), premiums and debt costs, net	0
Long-term debt, excluding disposal group	93,000
Commercial Paper | Debt maturing in 2020
Debt Instrument [Line Items]
2020	93,000
Commercial Paper | Debt maturing in 2021
Debt Instrument [Line Items]
2021	0
Commercial Paper | Debt maturing in 2022
Debt Instrument [Line Items]
2022	0
Commercial Paper | Debt maturing in 2023
Debt Instrument [Line Items]
2023	0
Commercial Paper | Debt maturing in 2024
Debt Instrument [Line Items]
2024	0
Commercial Paper | Thereafter
Debt Instrument [Line Items]
Thereafter	0
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	250,000
(Discounts), premiums and debt costs, net	(1,058)
Long-term debt, excluding disposal group	248,942
Term Loan | Debt maturing in 2020
Debt Instrument [Line Items]
2020	0
Term Loan | Debt maturing in 2021
Debt Instrument [Line Items]
2021	0
Term Loan | Debt maturing in 2022
Debt Instrument [Line Items]
2022	0
Term Loan | Debt maturing in 2023
Debt Instrument [Line Items]
2023	0
Term Loan | Debt maturing in 2024
Debt Instrument [Line Items]
2024	250,000
Term Loan | Thereafter
Debt Instrument [Line Items]
Thereafter	0
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross	5,700,000
(Discounts), premiums and debt costs, net	(52,007)
Long-term debt, excluding disposal group	$ 5,647,993
Weighted-average interest rate (as a percent)	3.94%
Weighted-average maturity	7 years
Unsecured Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	3.14%
Unsecured Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	6.87%
Unsecured Debt | Debt maturing in 2020
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
2020	$ 0
Unsecured Debt | Debt maturing in 2021
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
2021	$ 0
Unsecured Debt | Debt maturing in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	3.37%
2022	$ 300,000
Unsecured Debt | Debt maturing in 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	4.37%
2023	$ 550,000
Unsecured Debt | Debt maturing in 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	4.17%
2024	$ 1,150,000
Unsecured Debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	3.86%
Thereafter	$ 3,700,000
Mortgage debt
Debt Instrument [Line Items]
Long-term debt, gross	264,244
(Discounts), premiums and debt costs, net	12,663
Long-term debt, excluding disposal group	$ 276,907
Weighted-average interest rate (as a percent)	4.09%
Weighted-average maturity	13 years
Mortgage debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	2.22%
Mortgage debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%
Mortgage debt | Debt maturing in 2020
Debt Instrument [Line Items]
Interest rate (as a percent)	5.08%
2020	$ 4,132
Mortgage debt | Debt maturing in 2021
Debt Instrument [Line Items]
Interest rate (as a percent)	5.26%
2021	$ 11,821
Mortgage debt | Debt maturing in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
2022	$ 3,886
Mortgage debt | Debt maturing in 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
2023	$ 4,069
Mortgage debt | Debt maturing in 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
2024	$ 4,247
Mortgage debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	4.09%
Thereafter	$ 236,089
Life Care Bonds and Demand Notes
Debt Instrument [Line Items]
Other debt	85,000
Life Care Bonds
Debt Instrument [Line Items]
Other debt	$ 52,000
On-Demand Note
Debt Instrument [Line Items]
Interest rate (as a percent)	3.60%
Other debt	$ 33,000
Bank Line of Credit
Debt Instrument [Line Items]
Long-term debt	0
Commercial Paper
Debt Instrument [Line Items]
Long-term debt	93,000
Term Loan
Debt Instrument [Line Items]
Long-term debt	248,942
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	5,647,993
Mortgage debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 112,000	$ 50,000
Long-term debt	309,196
Weighted-average interest rate (as a percent)		4.89%	4.83%
Disposal Group, Held-for-sale, Not Discontinued Operations
Debt Instrument [Line Items]
Debt on assets held for sale	32,289
Disposal Group, Held-for-sale, Not Discontinued Operations | Bank Line of Credit
Debt Instrument [Line Items]
Debt on assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations | Commercial Paper
Debt Instrument [Line Items]
Debt on assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations | Term Loan
Debt Instrument [Line Items]
Debt on assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations | Unsecured Debt
Debt Instrument [Line Items]
Debt on assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations | Mortgage debt
Debt Instrument [Line Items]
Debt on assets held for sale	$ 32,289
Held-for-sale | Bank Line of Credit | Minimum
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)	3.45%
Held-for-sale | Bank Line of Credit | Maximum
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)	6.80%

Commitments and Contingencies -

Commitments and Contingencies - Legal Proceedings (Details)	Dec. 31, 2019USD ($)
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, 2019USD ($)
Other Commitments [Line Items]
Commitments	$ 386,302
Construction loan commitments
Other Commitments [Line Items]
Commitments	25,050
Lease and other commitment
Other Commitments [Line Items]
Commitments	123,957
Development commitments
Other Commitments [Line Items]
Commitments	237,295
Allowance for tenant improvement
Other Commitments [Line Items]
Commitments	$ 88,000

Commitments and Contingencies_3

Commitments and Contingencies - DownREIT LLCs (Details)	Dec. 31, 2019property
Indemnification Agreement
Loss Contingencies [Line Items]
Number of properties may be contributed in the agreement	27

Commitments and Contingencies_4

Commitments and Contingencies - Credit Enhancement Guarantee (Details) $ in Millions	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Third party debt collateralized by facilities, debt amount	$ 64
Third party debt collateralized by facilities, asset carrying amount	$ 334

Equity - Dividends (Details)

Equity - Dividends (Details) - $ / shares	Jan. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 1.480	$ 1.480	$ 1.480
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.37

Equity - ATM Program (Details)

Equity - ATM Program (Details) - USD ($)	1 Months Ended					12 Months Ended
	Feb. 12, 2020	Dec. 31, 2019	Nov. 30, 2019	Feb. 28, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsidiary or Equity Method Investee [Line Items]
Forward rate per share (in usd per share)						$ 31.84
Issuance of common stock, net						$ 791,048,000	$ 215,179,000	$ 27,353,000
Forward Equity Offering
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)					0	15,300,000
Forward rate per share (in usd per share)					$ 28.60	$ 30.91
Issuance of common stock, net		$ 422,000,000
Maximum shares issuable under forward equity sales agreement (in shares)			15,600,000		15,300,000	15,300,000
Forward contract, outstanding (in shares)		15,600,000				15,600,000
Forward rate per share (in usd per share)		$ 31.56				$ 31.56
Aggregate amount remaining						$ 163,000,000
Option indexed to issuers equity, term					1 year	1 year
At-The-Market Program
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)							5,400,000
Sale of stock (in usd per share)					$ 28.27		$ 28.27
Proceeds from issuance of common stock							$ 154,000,000
Aggregate amount authorized				$ 1,000,000,000
Issuance of common stock, net						$ 171,000,000
Settlement alternatives, fair value (in shares)		5,500,000				5,500,000
Forward contract, outstanding (in shares)		14,800,000				14,800,000
2019 ATM Program
Subsidiary or Equity Method Investee [Line Items]
Forward rate per share (in usd per share)						$ 31.44
Maximum shares issuable under forward equity sales agreement (in shares)						20,300,000
Settlement alternatives, fair value (in shares)		5,500,000				5,500,000
Forward contract, outstanding (in shares)		14,800,000				14,800,000
Common Stock
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)						5,900,000
Issuance of common stock, net						$ 189,000,000
Common Stock | Forward Equity Offering
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)					2,000,000,000,000
Sale of stock (in usd per share)					$ 28.60		$ 28.60
Proceeds from issuance of common stock					$ 57,000,000
Subsequent Event | At-The-Market Program
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)	2,000,000
Sale of stock (in usd per share)	$ 35.23

Equity - Forward Equity Offerin

Equity - Forward Equity Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Dec. 31, 2019	Nov. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Forward rate per share (in usd per share)				$ 31.84
Issuance of common stock, net				$ 791,048	$ 215,179	$ 27,353
Forward Equity Offering
Noncontrolling Interest [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)		15,600,000	15,300,000	15,300,000
Forward rate per share (in usd per share)			$ 28.60	$ 30.91
Option indexed to issuers equity, term			1 year	1 year
Issuance of common stock, net	$ 422,000
Issuance of common stock, net (in shares)			0	15,300,000
2019 Forward Equity Offering
Noncontrolling Interest [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)		15,600,000
Forward rate per share (in usd per share)		$ 34.46
Option indexed to issuers equity, term		1 year
Issuance of common stock, net (in shares)				0
Maximum | Forward Equity Offering
Noncontrolling Interest [Line Items]
Sale of stock (in usd per share)	$ 27.66			$ 27.66
Common Stock
Noncontrolling Interest [Line Items]
Issuance of common stock, net				$ 189,000
Issuance of common stock, net (in shares)				5,900,000
Common Stock | Forward Equity Offering
Noncontrolling Interest [Line Items]
Sale of stock (in usd per share)			$ 28.60		$ 28.60
Issuance of common stock, net (in shares)			2,000,000,000,000
Proceeds from issuance of common stock			$ 57,000

Equity - Schedule of Other Comm

Equity - Schedule of Other Common Stock Activities (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Dividend Reinvestment and Stock Purchase Plan (in shares)	336	237	983
Conversion of DownREIT units (in shares)	213	3	78
Exercise of stock options (in shares)	152	120	32
Vesting of restricted stock units (in shares)	468	401	419
Repurchase of common stock (in shares)	162	141	157

Equity - Schedule of Accumulate

Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Cumulative foreign currency translation adjustment	$ (1,023)	$ (1,683)
Unrealized gains (losses) on derivatives, net	1,314	(467)
Supplemental Executive Retirement plan minimum liability and other	(3,148)	(2,558)
Total accumulated other comprehensive income (loss)	$ (2,857)	$ (4,708)

Equity - Noncontrolling Interes

Equity - Noncontrolling Interests Narrative (Details) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2019USD ($)entityshares	Dec. 31, 2018USD ($)
Noncontrolling Interest [Line Items]
Non-managing member unitholders	$ 204,355	$ 176,751
Noncontrolling Interests
Noncontrolling Interest [Line Items]
Non-managing members DownREIT units outstanding (in shares) | shares	5,000,000
Conversion of DownREIT units (in shares) | shares	7
Number of DownREIT LLCs (in entities) | entity	7
Non-managing member unitholders	$ 204,000
DownREIT unit, fair value	$ 257,000

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details) - shares	1 Months Ended		12 Months Ended
	Nov. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average incremental shares from forward equity sales agreements (in shares)			2,771,000	0	0
Convertible Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)			28,000,000	15,000,000
Down R E I T [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)			7,000,000	2,000,000	7,000,000
Common Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)			1,000,000	1,000,000	1,000,000
2019 ATM Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)			20,300,000
Settlement alternatives, fair value (in shares)			5,500,000
Forward contract, outstanding (in shares)			14,800,000
Forward Equity Offering
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)	15,600,000	15,300,000	15,300,000
Issuance of common stock, net (in shares)		0	15,300,000
Forward contract, outstanding (in shares)			15,600,000

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator
Net income (loss)	$ 60,061	$ 1,073,474	$ 422,634
Noncontrolling interests' share in earnings	(14,531)	(12,381)	(8,465)
Net income (loss) attributable to Healthpeak Properties, Inc.	45,530	1,061,093	414,169
Less: Participating securities' share in earnings	(1,543)	(2,669)	(1,156)
Net income (loss) applicable to common shares	43,987	1,058,424	413,013
Add: distributions on dilutive convertible units and other	0	6,919	0
Dilutive net income (loss) available to common shares	$ 43,987	$ 1,065,343	$ 413,013
Denominator
Basic weighted average shares outstanding (in shares)	486,255	470,551	468,759
Dilutive potential common shares - equity awards (in shares)	309	168	176
Weighted-average incremental shares from forward equity sales agreements (in shares)	2,771	0	0
Dilutive potential common shares - DownREIT conversions (in shares)	0	4,668	0
Diluted weighted average common shares (in shares)	489,335	475,387	468,935
Basic earnings per common share:
Continuing operations (in dollars per share)	$ 0.09	$ 2.25	$ 0.88
Diluted earnings per common share
Continuing operations (in dollars per share)	$ 0.09	$ 2.24	$ 0.88
Incremental common shares attributable to dilutive effect of equity forward agreements, not yet settled (in shares)	30,000
Dilutive securities, effect on basic earnings, dilutive convertible securities, not yet settled	$ 1,000,000

Compensation Plans - Stock Base

Compensation Plans - Stock Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 18	$ 15	$ 14
Deferred compensation cost	$ 26
Total unrecognized compensation cost, period of recognition	2 years
Executive Vice President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 1
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
Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized			$ 1
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)	28,000,000
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, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares exercisable (in shares)	0.6	0.8
Common Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares outstanding (in shares)	0.6	0.8
Proceeds received from options exercised	$ 5	$ 2	$ 1

Compensation Plans - Restricted

Compensation Plans - Restricted Stock Awards Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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)	162	141	157
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	$ 14	$ 10	$ 15

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, 2019$ / sharesshares
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	1,698
Granted (in shares) | shares	652
Vested (in shares) | shares	(468)
Forfeited (in shares) | shares	(182)
Unvested at the end of the period (in shares) | shares	1,700
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 27.13
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	32.33
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	27.52
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	31.37
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 28.56

Segment Disclosures - Narrative

Segment Disclosures - Narrative (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2019facility	Dec. 31, 2019USD ($)facility	Dec. 31, 2018USD ($)facility	Dec. 31, 2017USD ($)facility
Segment Reporting Information [Line Items]
Impairment related to goodwill		$ 0	$ 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		41	22	25
Medical office
Segment Reporting Information [Line Items]
Number of SH NNN facilities transitioned to RIDEA structure (in facilities) | facility	2	2
Operating segment | Senior housing triple-net
Segment Reporting Information [Line Items]
Goodwill		$ 14,000,000	$ 21,000,000
Goodwill transfers		(7,000,000)
Operating segment | SHOP
Segment Reporting Information [Line Items]
Goodwill		16,000,000	9,000,000
Goodwill transfers		7,000,000
Operating segment | Medical office
Segment Reporting Information [Line Items]
Goodwill		13,000,000	11,000,000
Goodwill transfers		2,000,000
Operating segment | Other non-reportable segments
Segment Reporting Information [Line Items]
Goodwill		4,000,000	$ 6,000,000
Goodwill transfers		$ (2,000,000)

Segment Disclosures - Summary I

Segment Disclosures - Summary Information for the Reportable Segments (Details) - USD ($)	1 Months Ended		3 Months Ended								12 Months Ended
	Mar. 31, 2017	Jan. 31, 2017	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment reporting information, revenues
Rental estate revenues											$ 1,987,539,000	$ 1,836,283,000	$ 1,792,141,000
Operating expenses											(879,370,000)	(705,038,000)	(666,251,000)
NOI											1,108,169,000	1,131,245,000	1,125,890,000
Adjustments to NOI											(21,058,000)	(11,904,000)	38,410,000
Adjusted NOI											1,087,111,000	1,119,341,000	1,164,300,000
Addback adjustments											21,058,000	11,904,000	(38,410,000)
Interest income											9,844,000	10,406,000	56,237,000
Interest expense											(225,619,000)	(266,343,000)	(307,716,000)
Depreciation and amortization											(659,989,000)	(549,499,000)	(534,726,000)
General and administrative											(92,966,000)	(96,702,000)	(88,772,000)
Transaction costs											(8,743,000)	(10,772,000)	(7,963,000)
Recoveries (impairments), net											(225,937,000)	(55,260,000)	(166,384,000)
Gain (loss) on sales of real estate, net			$ 11,000,000	$ 0	$ 11,000,000	$ 8,000,000		$ 95,000,000	$ 25,000,000		22,900,000	925,985,000	356,641,000
Loss on debt extinguishment											(58,364,000)	(44,162,000)	(54,227,000)
Other income (expense), net											182,129,000	13,316,000	31,420,000
Income tax benefit (expense)											17,262,000	17,854,000	1,333,000
Equity income (loss) from unconsolidated joint ventures											(8,625,000)	(2,594,000)	10,901,000
Discontinued operations													0
Net income (loss)			$ 47,359,000	$ (42,308,000)	(9,980,000)	$ 64,990,000	$ 834,383,000	$ 102,926,000	$ 92,928,000	$ 43,237,000	60,061,000	1,073,474,000	422,634,000
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											(216,386,000)	(258,955,000)	(292,169,000)
Depreciation and amortization											0	0	0
General and administrative											(92,966,000)	(96,702,000)	(88,772,000)
Transaction costs											(8,743,000)	(10,772,000)	(7,963,000)
Recoveries (impairments), net											0	0	0
Gain (loss) on sales of real estate, net											0	0	0
Loss on debt extinguishment											(58,364,000)	(44,162,000)	(54,227,000)
Other income (expense), net											13,106,000	3,711,000	(19,475,000)
Income tax benefit (expense)											17,262,000	17,854,000	1,333,000
Equity income (loss) from unconsolidated joint ventures											0	0	0
Discontinued operations													0
Net income (loss)											(346,091,000)	(389,026,000)	(461,273,000)
Senior housing triple-net
Segment reporting information, revenues
Recoveries (impairments), net													(23,000,000)
Gain (loss) on sales of real estate, net	$ 170,000,000
Senior housing triple-net | Operating segment
Segment reporting information, revenues
Rental estate revenues											199,441,000	276,091,000	313,547,000
Operating expenses											(4,565,000)	(3,618,000)	(3,819,000)
NOI											194,876,000	272,473,000	309,728,000
Adjustments to NOI											2,725,000	2,127,000	17,098,000
Adjusted NOI											197,601,000	274,600,000	326,826,000
Addback adjustments											(2,725,000)	(2,127,000)	(17,098,000)
Interest income											0	0	0
Interest expense											(1,003,000)	(2,404,000)	(2,518,000)
Depreciation and amortization											(55,361,000)	(79,605,000)	(103,820,000)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(43,859,000)	0	(22,590,000)
Gain (loss) on sales of real estate, net											3,557,000	641,000	280,349,000
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)											98,210,000	191,105,000	461,149,000
SHOP
Segment reporting information, revenues
Recoveries (impairments), net					$ (10,000,000)							(52,000,000)
Gain (loss) on sales of real estate, net										$ 21,000,000
SHOP | Operating segment
Segment reporting information, revenues
Rental estate revenues											725,171,000	547,976,000	525,473,000
Operating expenses											(565,713,000)	(414,312,000)	(396,491,000)
NOI											159,458,000	133,664,000	128,982,000
Adjustments to NOI											2,872,000	2,875,000	33,227,000
Adjusted NOI											162,330,000	136,539,000	162,209,000
Addback adjustments											(2,872,000)	(2,875,000)	(33,227,000)
Interest income											0	0	0
Interest expense											(7,519,000)	(2,725,000)	(7,920,000)
Depreciation and amortization											(214,590,000)	(104,405,000)	(103,162,000)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(164,369,000)	(44,343,000)	0
Gain (loss) on sales of real estate, net											19,384,000	93,977,000	17,485,000
Loss on debt extinguishment											0	0	0
Other income (expense), net											160,886,000	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)											(46,750,000)	76,168,000	35,385,000
Life science
Segment reporting information, revenues
Gain (loss) on sales of real estate, net		$ 45,000,000
Life science | Operating segment
Segment reporting information, revenues
Rental estate revenues											440,784,000	395,064,000	358,816,000
Operating expenses											(107,472,000)	(91,742,000)	(78,001,000)
NOI											333,312,000	303,322,000	280,815,000
Adjustments to NOI											(22,120,000)	(9,589,000)	(4,517,000)
Adjusted NOI											311,192,000	293,733,000	276,298,000
Addback adjustments											22,120,000	9,589,000	4,517,000
Interest income											0	0	0
Interest expense											(277,000)	(316,000)	(373,000)
Depreciation and amortization											(168,339,000)	(140,480,000)	(128,864,000)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											0	(7,639,000)	0
Gain (loss) on sales of real estate, net											3,651,000	806,184,000	45,916,000
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)											168,347,000	961,071,000	197,494,000
Medical office
Segment reporting information, revenues
Recoveries (impairments), net											(4,000,000)
Gain (loss) on sales of real estate, net													41,000,000
Medical office | Operating segment
Segment reporting information, revenues
Rental estate revenues											571,530,000	547,375,000	512,385,000
Operating expenses											(201,538,000)	(195,100,000)	(187,688,000)
NOI											369,992,000	352,275,000	324,697,000
Adjustments to NOI											(5,877,000)	(6,690,000)	(5,405,000)
Adjusted NOI											364,115,000	345,585,000	319,292,000
Addback adjustments											5,877,000	6,690,000	5,405,000
Interest income											0	0	0
Interest expense											(434,000)	(474,000)	(506,000)
Depreciation and amortization											(214,669,000)	(200,430,000)	(176,507,000)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(17,332,000)	0	0
Gain (loss) on sales of real estate, net											3,139,000	4,428,000	9,095,000
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)											140,696,000	155,799,000	156,779,000
Other non-reportable segments | Operating segment
Segment reporting information, revenues
Rental estate revenues											50,613,000	69,777,000	81,920,000
Operating expenses											(82,000)	(266,000)	(252,000)
NOI											50,531,000	69,511,000	81,668,000
Adjustments to NOI											1,342,000	(627,000)	(1,993,000)
Adjusted NOI											51,873,000	68,884,000	79,675,000
Addback adjustments											(1,342,000)	627,000	1,993,000
Interest income											9,844,000	10,406,000	56,237,000
Interest expense											0	(1,469,000)	(4,230,000)
Depreciation and amortization											(7,030,000)	(24,579,000)	(22,373,000)
General and administrative											0	0	0
Transaction costs											0	0	0
Recoveries (impairments), net											(377,000)	(3,278,000)	(143,794,000)
Gain (loss) on sales of real estate, net											(6,831,000)	20,755,000	3,796,000
Loss on debt extinguishment											0	0	0
Other income (expense), net											8,137,000	9,605,000	50,895,000
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											(8,625,000)	(2,594,000)	10,901,000
Discontinued operations													0
Net income (loss)											$ 45,649,000	$ 78,357,000	$ 33,100,000

Segment Disclosures - Revenues

Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Disclosure
Total revenues	$ 531,691	$ 537,971	$ 491,567	$ 436,154	$ 441,919	$ 456,022	$ 469,551	$ 479,197	$ 1,997,383	$ 1,846,689	$ 1,848,378
Total assets	14,032,891				12,718,553				14,032,891	12,718,553
Assets held for sale and discontinued operations, net	504,394				108,086				504,394	108,086
Operating segment
Segment Disclosure
Gross assets	14,432,330				14,046,739				14,432,330	14,046,739
Accumulated depreciation and amortization	(2,966,987)				(2,997,012)				(2,966,987)	(2,997,012)
Total assets	11,465,343				11,049,727				11,465,343	11,049,727
Operating segment | Senior housing triple-net
Segment Disclosure
Total revenues									199,441	276,091	313,547
Gross assets	1,012,443				2,965,679				1,012,443	2,965,679
Operating segment | SHOP
Segment Disclosure
Total revenues									725,171	547,976	525,473
Gross assets	2,969,871				2,173,795				2,969,871	2,173,795
Operating segment | Life science
Segment Disclosure
Total revenues									440,784	395,064	358,816
Gross assets	5,688,659				4,303,471				5,688,659	4,303,471
Operating segment | Medical office
Segment Disclosure
Total revenues									571,530	547,375	512,385
Gross assets	4,761,357				4,603,794				4,761,357	4,603,794
Operating segment | Other non-reportable segments
Segment Disclosure
Total revenues									60,457	80,183	$ 138,157
Total assets	1,233,752				847,921				1,233,752	847,921
Other non-segment
Segment Disclosure
Total assets	$ 829,402				$ 712,819				$ 829,402	$ 712,819

Income Taxes - Schedule of Comm

Income Taxes - Schedule of Common Stock Distribution (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Dividends Payable [Line Items]
Dividends, amount per share	$ 1.4800	$ 1.4800	$ 1.4800
Qualified dividend income for purposes of Code Section 1(h)(11)		0.0164
Qualified business income for purpose of Code Section 199A	0.7633	0.9414
Ordinary dividends
Dividends Payable [Line Items]
Dividends, amount per share	0.7633	0.9578	1.4800
Capital gains
Dividends Payable [Line Items]
Dividends, amount per share	0.2714	0.5222	0
Nondividend distributions
Dividends Payable [Line Items]
Dividends, amount per share	$ 0.4453	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 22, 2017	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes		$ (40,293)	$ 40,926	$ 10,338	$ (62,395)	$ (833,600)	$ (98,908)	$ (88,375)	$ (37,331)	$ (51,424)	$ (1,058,214)	$ (410,400)
Tax expense recorded from Tax Cuts and Jobs Act	$ 17,000
Net operating loss carryforward		33,771				20,559				33,771	20,559	10,720
Amount that tax basis of net assets is less than reported amounts		1,200,000				$ 1,400,000				1,200,000	1,400,000	1,700,000
UK
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes											11,000	4,000
TRS
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes										100,000	$ 59,000	$ 58,000
Net operating loss carryforward		134,000								134,000
Net operating loss carryforwards subject to expiration		22,000								22,000
Net operating loss carryforwards not subject to expiration		$ 112,000								$ 112,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal	$ 261	$ (568)	$ 949
State	729	4,003	1,504
Foreign	0	84	1,737
Total current	990	3,519	4,190
Federal	(16,061)	(11,905)	2,730
State	(2,191)	(4,589)	(5,889)
Foreign	0	(4,879)	(2,364)
Total deferred	(18,252)	(21,373)	(5,523)
Total income tax expense (benefit)	$ (17,262)	$ (17,854)	$ (1,333)

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax	$ (20,923)	$ (17,857)	$ (21,085)
State income tax expense, net of federal tax	(3,845)	(1,313)	(1,222)
Gross receipts and margin taxes	1,430	1,580	1,716
Foreign rate differential	0	301	632
Effect of permanent differences	20	(34)	6
Return to provision adjustments	157	(278)	1,597
Remeasurement of deferred tax assets and liabilities	0	0	17,080
Increase (decrease) in valuation allowance	4,583	(253)	(57)
Change in tax status of TRS	1,316	0	0
Total income tax expense (benefit)	$ (17,262)	$ (17,854)	$ (1,333)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs	$ 40,466	$ 31,034	$ 31,691
Net operating loss carryforward	33,771	20,559	10,720
Expense accruals and other	3,258	2,424	229
Valuation allowance	(4,878)	(295)	(548)
Net deferred tax assets	$ 72,617	$ 53,722	$ 42,092

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total unrecognized tax benefits at January 1	$ 0	$ 0	$ 0
Gross amount of increases for prior years' tax positions	469	0	0
Total unrecognized tax benefits at December 31	$ 469	$ 0	$ 0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental cash flow information:
Interest paid, net of capitalized interest	$ 201,784	$ 275,690	$ 309,111
Income taxes paid (refunded)	1,426	4,480	10,045
Capitalized interest	30,459	21,056	16,937
Accrued construction costs	126,006	88,826	67,425
Retained equity method investment from U.K. JV transaction	0	104,922	0
Derecognition of U.K. Bridge Loan receivable	0	147,474	0
Consolidation of net assets related to U.K. Bridge Loan	0	106,457	0
Vesting of restricted stock units and conversion of non-managing member units into common stock	5,614	537	2,908
Net noncash impact from the consolidation of previously unconsolidated joint ventures	17,850	68,293	0
Deconsolidation of noncontrolling interest in connection with RIDEA II transaction	0	0	58,061
Liabilities assumed with real estate acquisitions	172,565	8,457	5,425
Conversion of DFLs to real estate	350,540	0	0
Seller financing provided on disposition of real estate asset	427,328	0	0
Seller financing provided on disposition of real estate asset	$ 44,812	$ 0	$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 144,232	$ 110,790
Restricted cash	40,425	29,056
Cash, cash equivalents and restricted cash	$ 184,657	$ 139,846	$ 82,203	$ 136,990

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Thousands, £ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 31, 2018	Mar. 31, 2018USD ($)property	Mar. 31, 2018GBP (£)	Dec. 31, 2019USD ($)propertyjoint_ventureentityloantenant	Dec. 31, 2017	Dec. 31, 2016USD ($)property	Dec. 31, 2018USD ($)	Mar. 31, 2018GBP (£)property	Dec. 31, 2016GBP (£)property
Variable Interest Entity [Line Items]
Mezzanine				$ 27,752			$ 21,013
Carrying value of exchange accommodation titleholder, carrying value				323,000
Loans receivable, net				$ 190,579			$ 62,998
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Number of properties leased (in properties) | property				2
Unconsolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures (in joint ventures) | joint_venture				5
Number of VIE borrowers with marketable debt securities (in joint ventures) | joint_venture				1
Number of VIE borrowers with debt securities and loan (in loans) | loan				1
Number of VIE tenants (in tenants) | tenant				1
CCRC OpCo
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)				49.00%
Waldwick
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)				85.00%
HCP Ventures V
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)				51.00%
Life Science JVs
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)				99.00%
DownREIT Partnerships
Variable Interest Entity [Line Items]
Controlling interest entity controlling ownership interest | entity				7
MSREI MOB JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)	51.00%			51.00%
MMCG
Variable Interest Entity [Line Items]
Loss on consolidation		$ (41,000)	£ (29)
Tax benefit		3,000	2
Total liabilities		$ 13,000						£ 9
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure
Variable Interest Entity [Line Items]
Number of properties leased (in properties) | property				2
Bridge Loan | MMCG
Variable Interest Entity [Line Items]
Loans receivable, net						$ 131,000			£ 105
Number of properties (in properties) | property		7				7		7	7
Period of call-option retained					3 years	3 years
Loss on consolidation		$ (41,000)	£ (29)
Senior housing triple-net | Loan-seller financing
Variable Interest Entity [Line Items]
Mezzanine				$ 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
Watertown JV
Variable Interest Entity [Line Items]
Ownership percentage (as a percent)				95.00%
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, 2019USD ($)
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 497
CCRC OpCo
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	164,271
Unconsolidated development joint ventures
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	24,171
Loan - seller financing
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	9,875
CMBS and LLC investment
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 34,854

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Buildings and improvements	$ 11,120,039	$ 10,877,248
Development costs and construction in progress	692,336	537,643
Land	1,992,602	1,637,506
Accumulated depreciation and amortization	(2,771,922)	(2,842,947)
Net real estate	11,033,055	10,209,450
Investments in and advances to unconsolidated joint ventures	825,515	540,088
Accounts receivable, net	59,417	48,171
Cash and cash equivalents	144,232	110,790
Intangible assets, net	331,693	305,079
Right-of-use asset, net	172,486
Other assets, net	646,491	591,017
Total assets	14,032,891	12,718,553
Mortgage debt	276,907	138,470
Other debt	84,771	90,785
Intangible liabilities, net	74,991	54,663
Lease liability	156,611
Liabilities of assets held for sale, net	36,369	1,125
Deferred revenue	289,680	190,683
Total liabilities	7,365,417	6,205,962
Variable Interest Entity
Variable Interest Entity [Line Items]
Buildings and improvements	3,236,105	1,949,582
Development costs and construction in progress	67,285	39,584
Land	526,576	151,746
Accumulated depreciation and amortization	(568,574)	(398,143)
Net real estate	3,261,392	1,742,769
Investments in and advances to unconsolidated joint ventures	0	1,550
Accounts receivable, net	11,986	7,904
Cash and cash equivalents	47,027	23,772
Restricted cash	13,596	3,399
Intangible assets, net	206,840	111,333
Right-of-use asset, net	92,664	0
Other assets, net	52,124	43,149
Total assets	3,685,629	1,933,876
Mortgage debt	218,767	44,598
Other debt	42,405	0
Intangible liabilities, net	39,545	19,128
Lease liability	90,875	0
Liabilities of assets held for sale, net	80,427	66,736
Deferred revenue	96,985	24,215
Total liabilities	$ 569,004	$ 154,677

Concentration of Credit Risk -

Concentration of Credit Risk - Schedule of Geographical Concentration of Credit Risk (Details) - Geographic Concentration Risk	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
California | Percentage of Total Company Assets
Concentration Risk [Line Items]
Concentration risk (as a percent)	37.00%	34.00%
California | Percentage of Total Company Revenues
Concentration Risk [Line Items]
Concentration risk (as a percent)	28.00%	26.00%	26.00%
Texas | Percentage of Total Company Assets
Concentration Risk [Line Items]
Concentration risk (as a percent)	12.00%	16.00%
Texas | Percentage of Total Company Revenues
Concentration Risk [Line Items]
Concentration risk (as a percent)	17.00%	18.00%	17.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Summary of financial instruments
Bank line of credit and commercial paper	$ 93,000	$ 80,103
Senior unsecured notes	5,647,993	5,258,550
Mortgage debt	276,907	138,470
Other debt	84,771	90,785
Carrying Value
Summary of financial instruments
Loans receivable, net	190,579	62,998
Marketable debt securities	19,756	19,202
Bank line of credit and commercial paper	93,000	80,103
Term loans	248,942	0
Senior unsecured notes	5,647,993	5,258,550
Mortgage debt	276,907	138,470
Other debt	84,771	90,785
Carrying Value | Interest-rate swap liabilities
Summary of financial instruments
Derivative liabilities	553	1,310
Fair Value | Level 1
Summary of financial instruments
Senior unsecured notes	6,076,150	5,302,485
Fair Value | Level 2
Summary of financial instruments
Loans receivable, net	190,579	62,998
Marketable debt securities	19,756	19,202
Bank line of credit and commercial paper	93,000	80,103
Term loans	248,942	0
Mortgage debt	280,373	136,161
Other debt	84,771	90,785
Fair Value | Interest-rate swap liabilities | Level 2
Summary of financial instruments
Derivative liabilities	$ 553	$ 1,310

Derivative Financial Instrume_3

Derivative Financial Instruments - Financial Instruments (Details) - Cash flow hedge	Dec. 31, 2019USD ($)derivative
Interest-rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	$ 42,000,000
Pay Rate	3.82%
Fair value of interest rate hedge, liabilities	$ (553,000)
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) - USD ($) $ in Millions	Jun. 29, 2018	Dec. 31, 2019
Cross Currency Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss on Contract Termination	$ 6
Maximum | Interest-rate swap liabilities
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

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 531,691	$ 537,971	$ 491,567	$ 436,154	$ 441,919	$ 456,022	$ 469,551	$ 479,197	$ 1,997,383	$ 1,846,689	$ 1,848,378
Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures	40,293	(40,926)	(10,338)	62,395	833,600	98,908	88,375	37,331	51,424	1,058,214	410,400
Net income (loss)	47,359	(42,308)	(9,980)	64,990	834,383	102,926	92,928	43,237	60,061	1,073,474	422,634
Net income (loss) applicable to Healthpeak Properties, Inc.	$ 43,520	$ (45,863)	$ (13,597)	$ 61,470	$ 831,548	$ 99,371	$ 89,942	$ 40,232	$ 45,530	$ 1,061,093	$ 414,169
Dividends paid per common share (in dollars per share)	$ 0.37	$ 0.37	$ 0.37	$ 0.37	$ 0.37	$ 0.37	$ 0.37	$ 0.37
Basic (in dollars per share)	0.09	(0.09)	(0.03)	0.13	1.75	0.21	0.19	0.08	$ 0.09	$ 2.25	$ 0.88
Diluted (in dollars per share)	$ 0.09	$ (0.09)	$ (0.03)	$ 0.13	$ 1.73	$ 0.21	$ 0.19	$ 0.08	$ 0.09	$ 2.24	$ 0.88

Schedule II_ Valuation and Qu_2

Schedule II: Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Valuation Allowances and Reserves
Balance at the beginning of the year	$ 27,797	$ 169,374	$ 29,518
Additions
Amounts Charged Against Operations, net	1,549	4,105	144,135
Acquired Properties	1,315	0	0
Deductions
Uncollectible Accounts Written-off	0	(1,887)	(2,732)
Dispositions	(700)	(143,795)	(1,547)
Balance at the end of the year	4,565	27,797	$ 169,374
ASU 2016-02
Movement in Valuation Allowances and Reserves
Balance at the beginning of the year	$ 2,401
Deductions
Balance at the end of the year		$ 2,401

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, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 276,907
Initial Cost to Company
Land	1,960,439
Buildings and Improvements	8,959,509
Costs Capitalized Subsequent to Acquisition	3,324,605
Gross Amount at Which Carried As of Year End
Land	1,992,602
Buildings and Improvements	11,812,375
Total	13,804,977	$ 13,052,397	$ 13,473,573	$ 13,974,760
Accumulated Depreciation	$ (2,771,922)	$ (2,842,947)	$ (2,741,695)	$ (2,648,930)
Useful life of buildings and improvements	60 years
Senior housing triple-net | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 6,270
Initial Cost to Company
Land	99,788
Buildings and Improvements	852,579
Costs Capitalized Subsequent to Acquisition	34,901
Gross Amount at Which Carried As of Year End
Land	99,934
Buildings and Improvements	868,393
Total	968,327
Accumulated Depreciation	(295,000)
SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	258,320
Initial Cost to Company
Land	315,143
Buildings and Improvements	2,273,243
Costs Capitalized Subsequent to Acquisition	192,882
Gross Amount at Which Carried As of Year End
Land	315,238
Buildings and Improvements	2,411,867
Total	2,727,105
Accumulated Depreciation	(415,276)
Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,620
Initial Cost to Company
Land	1,208,071
Buildings and Improvements	2,497,762
Costs Capitalized Subsequent to Acquisition	1,950,017
Gross Amount at Which Carried As of Year End
Land	1,210,155
Buildings and Improvements	4,316,615
Total	5,526,770
Accumulated Depreciation	(748,189)
Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	7,697
Initial Cost to Company
Land	299,527
Buildings and Improvements	3,174,966
Costs Capitalized Subsequent to Acquisition	1,140,578
Gross Amount at Which Carried As of Year End
Land	329,365
Buildings and Improvements	4,051,385
Total	4,380,750
Accumulated Depreciation	(1,220,050)
Other non-reportable segments | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	37,910
Buildings and Improvements	160,959
Costs Capitalized Subsequent to Acquisition	6,227
Gross Amount at Which Carried As of Year End
Land	37,910
Buildings and Improvements	164,115
Total	202,025
Accumulated Depreciation	(93,407)
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	393
Gross Amount at Which Carried As of Year End
Land	307
Buildings and Improvements	5,846
Total	6,153
Accumulated Depreciation	(1,820)
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	(405)
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	(13,020)
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	(3,638)
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	(5,574)
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	(4,034)
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	(6,357)
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	(3,421)
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	27,889
Total	34,641
Accumulated Depreciation	(10,049)
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	(7,437)
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	(5,782)
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	(6,037)
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	(9,179)
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	(3,223)
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	175
Gross Amount at Which Carried As of Year End
Land	1,221
Buildings and Improvements	12,176
Total	13,397
Accumulated Depreciation	(3,981)
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	(14,803)
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	176
Gross Amount at Which Carried As of Year End
Land	1,587
Buildings and Improvements	15,474
Total	17,061
Accumulated Depreciation	(5,073)
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	954
Gross Amount at Which Carried As of Year End
Land	1,462
Buildings and Improvements	17,342
Total	18,804
Accumulated Depreciation	(5,726)
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	255
Gross Amount at Which Carried As of Year End
Land	1,331
Buildings and Improvements	18,950
Total	20,281
Accumulated Depreciation	(6,202)
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	66
Gross Amount at Which Carried As of Year End
Land	700
Buildings and Improvements	15,550
Total	16,250
Accumulated Depreciation	(3,984)
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	762
Gross Amount at Which Carried As of Year End
Land	2,035
Buildings and Improvements	34,195
Total	36,230
Accumulated Depreciation	(11,154)
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	(8,346)
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	(1,519)
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	(1,054)
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	(8,989)
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	(3,871)
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	(1,956)
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	1,413
Gross Amount at Which Carried As of Year End
Land	8,117
Buildings and Improvements	23,773
Total	31,890
Accumulated Depreciation	(7,886)
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	1,593
Gross Amount at Which Carried As of Year End
Land	5,215
Buildings and Improvements	39,535
Total	44,750
Accumulated Depreciation	(13,318)
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	(3,626)
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	(4,260)
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	(2,693)
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	(370)
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	(1,858)
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	(2,000)
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	(2,320)
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	(1,369)
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	(1,274)
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	(1,195)
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	359
Gross Amount at Which Carried As of Year End
Land	795
Buildings and Improvements	4,111
Total	4,906
Accumulated Depreciation	(1,567)
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	(1,194)
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	(2,048)
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	(921)
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	(5,518)
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	41,644
Total	44,604
Accumulated Depreciation	(22,558)
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	(6,119)
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	(1,665)
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	(3,771)
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	(4,978)
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	(1,632)
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	(3,422)
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	(4,486)
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	(935)
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	(1,242)
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	(3,907)
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	(4,317)
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	(4,701)
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	(3,845)
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	(1,088)
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	(3,699)
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	(9,186)
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	(1,299)
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	10,208
Total	11,706
Accumulated Depreciation	(2,099)
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	3,924
Gross Amount at Which Carried As of Year End
Land	2,640
Buildings and Improvements	36,339
Total	38,979
Accumulated Depreciation	(11,961)
2935 Alameda, CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	19,683
Initial Cost to Company
Land	6,225
Buildings and Improvements	20,194
Costs Capitalized Subsequent to Acquisition	36
Gross Amount at Which Carried As of Year End
Land	6,225
Buildings and Improvements	20,230
Total	26,455
Accumulated Depreciation	(484)
2911 Beverly Hills CA | SHOP | 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	10,714
Gross Amount at Which Carried As of Year End
Land	9,872
Buildings and Improvements	40,380
Total	50,252
Accumulated Depreciation	(13,574)
2933 Chino Hills CA | SHOP | 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	269
Gross Amount at Which Carried As of Year End
Land	3,720
Buildings and Improvements	40,222
Total	43,942
Accumulated Depreciation	(6,355)
2953 Concord CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	32,106
Initial Cost to Company
Land	5,386
Buildings and Improvements	45,874
Costs Capitalized Subsequent to Acquisition	9
Gross Amount at Which Carried As of Year End
Land	5,386
Buildings and Improvements	45,883
Total	51,269
Accumulated Depreciation	(707)
2931 Concord CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	25,000
Initial Cost to Company
Land	6,010
Buildings and Improvements	39,615
Costs Capitalized Subsequent to Acquisition	321
Gross Amount at Which Carried As of Year End
Land	6,010
Buildings and Improvements	38,636
Total	44,646
Accumulated Depreciation	(13,808)
2932 Escondido CA | SHOP | 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	204
Gross Amount at Which Carried As of Year End
Land	5,090
Buildings and Improvements	23,557
Total	28,647
Accumulated Depreciation	(8,430)
2937 Fair Oaks CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	33,794
Initial Cost to Company
Land	3,972
Buildings and Improvements	51,073
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,972
Buildings and Improvements	51,073
Total	55,045
Accumulated Depreciation	(1,261)
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	3,539
Gross Amount at Which Carried As of Year End
Land	1,730
Buildings and Improvements	34,813
Total	36,543
Accumulated Depreciation	(11,114)
2959 Huntington Beach CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	12,365
Buildings and Improvements	36,509
Costs Capitalized Subsequent to Acquisition	13
Gross Amount at Which Carried As of Year End
Land	12,365
Buildings and Improvements	36,522
Total	48,887
Accumulated Depreciation	(678)
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	7,176
Gross Amount at Which Carried As of Year End
Land	8,220
Buildings and Improvements	20,740
Total	28,960
Accumulated Depreciation	(4,254)
2934 Roseville CA | SHOP | 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	59
Gross Amount at Which Carried As of Year End
Land	3,844
Buildings and Improvements	33,315
Total	37,159
Accumulated Depreciation	(5,870)
2952 San Jose CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	28,761
Initial Cost to Company
Land	10,658
Buildings and Improvements	34,661
Costs Capitalized Subsequent to Acquisition	74
Gross Amount at Which Carried As of Year End
Land	10,658
Buildings and Improvements	34,735
Total	45,393
Accumulated Depreciation	(524)
2951 Santa Clarita CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	34,175
Initial Cost to Company
Land	16,896
Buildings and Improvements	38,549
Costs Capitalized Subsequent to Acquisition	38
Gross Amount at Which Carried As of Year End
Land	16,896
Buildings and Improvements	38,587
Total	55,483
Accumulated Depreciation	(642)
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	2,916
Gross Amount at Which Carried As of Year End
Land	3,627
Buildings and Improvements	22,689
Total	26,316
Accumulated Depreciation	(7,793)
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	7,718
Gross Amount at Which Carried As of Year End
Land	2,650
Buildings and Improvements	29,570
Total	32,220
Accumulated Depreciation	(9,653)
2958 Valencia CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	26,049
Initial Cost to Company
Land	12,699
Buildings and Improvements	49,986
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	12,699
Buildings and Improvements	49,986
Total	62,685
Accumulated Depreciation	(968)
2936 Whittier CA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,355
Buildings and Improvements	24,639
Costs Capitalized Subsequent to Acquisition	42
Gross Amount at Which Carried As of Year End
Land	3,355
Buildings and Improvements	24,681
Total	28,036
Accumulated Depreciation	(588)
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	2,256
Gross Amount at Which Carried As of Year End
Land	2,415
Buildings and Improvements	19,154
Total	21,569
Accumulated Depreciation	(5,834)
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	4,379
Gross Amount at Which Carried As of Year End
Land	1,270
Buildings and Improvements	7,378
Total	8,648
Accumulated Depreciation	(2,152)
3042 Bradenton FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,720
Buildings and Improvements	30,814
Costs Capitalized Subsequent to Acquisition	72
Gross Amount at Which Carried As of Year End
Land	1,720
Buildings and Improvements	30,886
Total	32,606
Accumulated Depreciation	(872)
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	2,829
Gross Amount at Which Carried As of Year End
Land	2,250
Buildings and Improvements	4,876
Total	7,126
Accumulated Depreciation	(1,712)
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	3,343
Gross Amount at Which Carried As of Year End
Land	2,461
Buildings and Improvements	17,915
Total	20,376
Accumulated Depreciation	(5,373)
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	3,378
Gross Amount at Which Carried As of Year End
Land	850
Buildings and Improvements	9,102
Total	9,952
Accumulated Depreciation	(3,085)
3043 Fort Myers FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,806
Buildings and Improvements	37,410
Costs Capitalized Subsequent to Acquisition	117
Gross Amount at Which Carried As of Year End
Land	1,806
Buildings and Improvements	37,527
Total	39,333
Accumulated Depreciation	(1,031)
3044 Fort Myers FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,177
Buildings and Improvements	55,719
Costs Capitalized Subsequent to Acquisition	65
Gross Amount at Which Carried As of Year End
Land	3,177
Buildings and Improvements	55,784
Total	58,961
Accumulated Depreciation	(1,570)
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	12,824
Gross Amount at Which Carried As of Year End
Land	2,867
Buildings and Improvements	54,298
Total	57,165
Accumulated Depreciation	(7,562)
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	6,107
Gross Amount at Which Carried As of Year End
Land	902
Buildings and Improvements	21,276
Total	22,178
Accumulated Depreciation	(2,379)
3039 Melbourne FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,212
Buildings and Improvements	54,579
Costs Capitalized Subsequent to Acquisition	99
Gross Amount at Which Carried As of Year End
Land	2,212
Buildings and Improvements	54,678
Total	56,890
Accumulated Depreciation	(1,588)
3040 Naples FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,444
Buildings and Improvements	33,744
Costs Capitalized Subsequent to Acquisition	97
Gross Amount at Which Carried As of Year End
Land	7,444
Buildings and Improvements	33,841
Total	41,285
Accumulated Depreciation	(1,020)
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	1,738
Gross Amount at Which Carried As of Year End
Land	912
Buildings and Improvements	11,462
Total	12,374
Accumulated Depreciation	(2,174)
3041 Palm Beach Gardens FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,249
Buildings and Improvements	33,747
Costs Capitalized Subsequent to Acquisition	55
Gross Amount at Which Carried As of Year End
Land	4,249
Buildings and Improvements	33,802
Total	38,051
Accumulated Depreciation	(951)
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	9,739
Gross Amount at Which Carried As of Year End
Land	3,050
Buildings and Improvements	38,313
Total	41,363
Accumulated Depreciation	(13,100)
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	1,750
Gross Amount at Which Carried As of Year End
Land	970
Buildings and Improvements	9,136
Total	10,106
Accumulated Depreciation	(2,663)
2904 Tampa FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,994
Buildings and Improvements	24,493
Costs Capitalized Subsequent to Acquisition	774
Gross Amount at Which Carried As of Year End
Land	1,994
Buildings and Improvements	25,267
Total	27,261
Accumulated Depreciation	(666)
3045 Tampa FL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,419
Buildings and Improvements	25,634
Costs Capitalized Subsequent to Acquisition	26
Gross Amount at Which Carried As of Year End
Land	1,419
Buildings and Improvements	25,660
Total	27,079
Accumulated Depreciation	(746)
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	3,425
Gross Amount at Which Carried As of Year End
Land	1,048
Buildings and Improvements	20,817
Total	21,865
Accumulated Depreciation	(2,914)
2896 Atlanta GA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,957
Buildings and Improvements	5,378
Costs Capitalized Subsequent to Acquisition	149
Gross Amount at Which Carried As of Year End
Land	3,957
Buildings and Improvements	5,527
Total	9,484
Accumulated Depreciation	(225)
2914 Lilburn GA | SHOP | 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	501
Gross Amount at Which Carried As of Year End
Land	907
Buildings and Improvements	17,195
Total	18,102
Accumulated Depreciation	(5,720)
3046 Suwanee GA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,708
Buildings and Improvements	35,882
Costs Capitalized Subsequent to Acquisition	110
Gross Amount at Which Carried As of Year End
Land	3,708
Buildings and Improvements	35,992
Total	39,700
Accumulated Depreciation	(991)
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	5,289
Gross Amount at Which Carried As of Year End
Land	4,120
Buildings and Improvements	33,951
Total	38,071
Accumulated Depreciation	(11,286)
2903 St. Charles IL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,000
Buildings and Improvements	22,747
Costs Capitalized Subsequent to Acquisition	308
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	23,055
Total	24,055
Accumulated Depreciation	(551)
2906 Wheaton IL | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,599
Buildings and Improvements	13,268
Costs Capitalized Subsequent to Acquisition	351
Gross Amount at Which Carried As of Year End
Land	1,599
Buildings and Improvements	13,619
Total	15,218
Accumulated Depreciation	(385)
2899 Praire Village KS | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,554
Buildings and Improvements	6,994
Costs Capitalized Subsequent to Acquisition	265
Gross Amount at Which Carried As of Year End
Land	2,554
Buildings and Improvements	7,259
Total	9,813
Accumulated Depreciation	(314)
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	1,604
Gross Amount at Which Carried As of Year End
Land	2,438
Buildings and Improvements	9,831
Total	12,269
Accumulated Depreciation	(3,215)
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	420
Gross Amount at Which Carried As of Year End
Land	8,828
Buildings and Improvements	29,737
Total	38,565
Accumulated Depreciation	(1,744)
2894 Columbia MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,947
Buildings and Improvements	29,201
Costs Capitalized Subsequent to Acquisition	385
Gross Amount at Which Carried As of Year End
Land	1,947
Buildings and Improvements	29,586
Total	31,533
Accumulated Depreciation	(660)
2583 Ellicott City MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	18,492
Initial Cost to Company
Land	3,607
Buildings and Improvements	31,720
Costs Capitalized Subsequent to Acquisition	1,879
Gross Amount at Which Carried As of Year End
Land	3,607
Buildings and Improvements	33,597
Total	37,204
Accumulated Depreciation	(3,623)
2921 Frederick MD | SHOP | 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	1,424
Gross Amount at Which Carried As of Year End
Land	609
Buildings and Improvements	10,005
Total	10,614
Accumulated Depreciation	(3,346)
2584 Hanover MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	8,610
Initial Cost to Company
Land	4,513
Buildings and Improvements	25,625
Costs Capitalized Subsequent to Acquisition	1,523
Gross Amount at Which Carried As of Year End
Land	4,513
Buildings and Improvements	27,148
Total	31,661
Accumulated Depreciation	(2,875)
2585 Laurel MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,585
Initial Cost to Company
Land	3,895
Buildings and Improvements	13,331
Costs Capitalized Subsequent to Acquisition	1,527
Gross Amount at Which Carried As of Year End
Land	3,895
Buildings and Improvements	14,858
Total	18,753
Accumulated Depreciation	(2,131)
2902 North Bethesda MD | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,798
Buildings and Improvements	21,430
Costs Capitalized Subsequent to Acquisition	352
Gross Amount at Which Carried As of Year End
Land	3,798
Buildings and Improvements	21,782
Total	25,580
Accumulated Depreciation	(597)
2920 Farmington Hills MI | SHOP | 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	1,042
Gross Amount at Which Carried As of Year End
Land	1,013
Buildings and Improvements	12,413
Total	13,426
Accumulated Depreciation	(4,241)
2900 Plymoth Township MI | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,494
Buildings and Improvements	16,060
Costs Capitalized Subsequent to Acquisition	656
Gross Amount at Which Carried As of Year End
Land	1,494
Buildings and Improvements	16,716
Total	18,210
Accumulated Depreciation	(443)
2908 Dos Peres MO | SHOP | 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	2,397
Gross Amount at Which Carried As of Year End
Land	4,361
Buildings and Improvements	22,443
Total	26,804
Accumulated Depreciation	(7,175)
2909 Richmond Heights MO | SHOP | 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	1,192
Gross Amount at Which Carried As of Year End
Land	1,744
Buildings and Improvements	24,740
Total	26,484
Accumulated Depreciation	(8,051)
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	2,427
Gross Amount at Which Carried As of Year End
Land	2,538
Buildings and Improvements	40,044
Total	42,582
Accumulated Depreciation	(7,991)
2898 Greensboro NC | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,272
Buildings and Improvements	29,249
Costs Capitalized Subsequent to Acquisition	447
Gross Amount at Which Carried As of Year End
Land	1,272
Buildings and Improvements	29,696
Total	30,968
Accumulated Depreciation	(674)
2926 Raleigh NC | SHOP | 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	1,332
Gross Amount at Which Carried As of Year End
Land	1,191
Buildings and Improvements	12,276
Total	13,467
Accumulated Depreciation	(4,002)
2901 Omaha NE | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,864
Buildings and Improvements	30,793
Costs Capitalized Subsequent to Acquisition	273
Gross Amount at Which Carried As of Year End
Land	2,864
Buildings and Improvements	31,066
Total	33,930
Accumulated Depreciation	(783)
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	2,874
Gross Amount at Which Carried As of Year End
Land	2,420
Buildings and Improvements	13,366
Total	15,786
Accumulated Depreciation	(5,107)
2912 Cresskill NJ | SHOP | 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	2,108
Gross Amount at Which Carried As of Year End
Land	4,684
Buildings and Improvements	54,942
Total	59,626
Accumulated Depreciation	(17,854)
2897 Florham Park NJ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,587
Buildings and Improvements	30,666
Costs Capitalized Subsequent to Acquisition	805
Gross Amount at Which Carried As of Year End
Land	8,587
Buildings and Improvements	31,471
Total	40,058
Accumulated Depreciation	(739)
2915 Madison NJ | SHOP | 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	699
Gross Amount at Which Carried As of Year End
Land	3,157
Buildings and Improvements	19,963
Total	23,120
Accumulated Depreciation	(6,494)
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	1,544
Gross Amount at Which Carried As of Year End
Land	921
Buildings and Improvements	11,005
Total	11,926
Accumulated Depreciation	(3,937)
2907 Saddle River NJ | SHOP | 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	1,180
Gross Amount at Which Carried As of Year End
Land	1,784
Buildings and Improvements	16,055
Total	17,839
Accumulated Depreciation	(5,247)
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	1,126
Gross Amount at Which Carried As of Year End
Land	900
Buildings and Improvements	8,416
Total	9,316
Accumulated Depreciation	(3,826)
2905 West Orange NJ | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,231
Buildings and Improvements	33,395
Costs Capitalized Subsequent to Acquisition	279
Gross Amount at Which Carried As of Year End
Land	5,231
Buildings and Improvements	33,674
Total	38,905
Accumulated Depreciation	(787)
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	1,750
Gross Amount at Which Carried As of Year End
Land	767
Buildings and Improvements	10,575
Total	11,342
Accumulated Depreciation	(4,663)
2895 Dayton OH | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2895 Dayton OH | Senior housing | Operating segment
Initial Cost to Company
Land	848
Buildings and Improvements	15,095
Costs Capitalized Subsequent to Acquisition	198
Gross Amount at Which Carried As of Year End
Land	848
Buildings and Improvements	15,293
Total	16,141
Accumulated Depreciation	(397)
2893 Westlake OH | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
2893 Westlake OH | Senior housing | Operating segment
Initial Cost to Company
Land	1,908
Buildings and Improvements	13,039
Costs Capitalized Subsequent to Acquisition	181
Gross Amount at Which Carried As of Year End
Land	1,908
Buildings and Improvements	13,220
Total	15,128
Accumulated Depreciation	(369)
3080 Haverford PA | SHOP | 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	18,471
Gross Amount at Which Carried As of Year End
Land	16,461
Buildings and Improvements	121,593
Total	138,054
Accumulated Depreciation	(41,223)
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	1,138
Gross Amount at Which Carried As of Year End
Land	2,540
Buildings and Improvements	12,574
Total	15,114
Accumulated Depreciation	(4,002)
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	984
Gross Amount at Which Carried As of Year End
Land	400
Buildings and Improvements	8,017
Total	8,417
Accumulated Depreciation	(3,010)
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	1,670
Gross Amount at Which Carried As of Year End
Land	865
Buildings and Improvements	12,320
Total	13,185
Accumulated Depreciation	(2,326)
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	992
Gross Amount at Which Carried As of Year End
Land	835
Buildings and Improvements	8,187
Total	9,022
Accumulated Depreciation	(3,856)
3047 Lewisville TX | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,228
Buildings and Improvements	35,835
Costs Capitalized Subsequent to Acquisition	603
Gross Amount at Which Carried As of Year End
Land	4,228
Buildings and Improvements	36,438
Total	40,666
Accumulated Depreciation	(1,032)
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	2,053
Gross Amount at Which Carried As of Year End
Land	2,354
Buildings and Improvements	53,709
Total	56,063
Accumulated Depreciation	(5,772)
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	2,017
Gross Amount at Which Carried As of Year End
Land	1,032
Buildings and Improvements	8,434
Total	9,466
Accumulated Depreciation	(1,851)
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	4,812
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	7,647
Total	7,822
Accumulated Depreciation	(3,769)
2917 Arlington VA | SHOP | 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	4,103
Gross Amount at Which Carried As of Year End
Land	7,278
Buildings and Improvements	40,180
Total	47,458
Accumulated Depreciation	(13,749)
2919 Falls Church VA | SHOP | 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	1,169
Gross Amount at Which Carried As of Year End
Land	2,228
Buildings and Improvements	9,638
Total	11,866
Accumulated Depreciation	(3,356)
3081 Fort Belvoir VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
3081 Fort Belvoir VA | Senior housing | Operating segment
Initial Cost to Company
Land	11,594
Buildings and Improvements	99,528
Costs Capitalized Subsequent to Acquisition	16,735
Gross Amount at Which Carried As of Year End
Land	11,594
Buildings and Improvements	112,578
Total	124,172
Accumulated Depreciation	(38,681)
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	492
Gross Amount at Which Carried As of Year End
Land	2,370
Buildings and Improvements	20,216
Total	22,586
Accumulated Depreciation	(1,858)
2581 Leesburg VA | SHOP | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	11,725
2581 Leesburg VA | Senior housing | Operating segment
Initial Cost to Company
Land	1,340
Buildings and Improvements	17,605
Costs Capitalized Subsequent to Acquisition	1,395
Gross Amount at Which Carried As of Year End
Land	1,340
Buildings and Improvements	19,000
Total	20,340
Accumulated Depreciation	(1,998)
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	6,707
Gross Amount at Which Carried As of Year End
Land	2,981
Buildings and Improvements	60,910
Total	63,891
Accumulated Depreciation	(6,940)
2913 Edmonds WA | SHOP | 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	819
Gross Amount at Which Carried As of Year End
Land	1,418
Buildings and Improvements	16,780
Total	18,198
Accumulated Depreciation	(5,354)
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	12,714
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	13,214
Total	21,712
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	63,861
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	64,550
Total	75,881
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	9,106
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	9,706
Total	21,037
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	179,627
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	179,627
Total	190,958
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	11,621
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	11,621
Total	20,119
Accumulated Depreciation	0
2874 Brisbane CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	64,186
Buildings and Improvements	62,318
Costs Capitalized Subsequent to Acquisition	997
Gross Amount at Which Carried As of Year End
Land	64,186
Buildings and Improvements	63,271
Total	127,457
Accumulated Depreciation	(1,599)
2875 Brisbane CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	58,410
Buildings and Improvements	56,623
Costs Capitalized Subsequent to Acquisition	130
Gross Amount at Which Carried As of Year End
Land	58,410
Buildings and Improvements	56,743
Total	115,153
Accumulated Depreciation	(1,510)
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	2,065
Gross Amount at Which Carried As of Year End
Land	900
Buildings and Improvements	8,311
Total	9,211
Accumulated Depreciation	(2,347)
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	9,644
Total	11,363
Accumulated Depreciation	(5,247)
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	7,292
Gross Amount at Which Carried As of Year End
Land	1,900
Buildings and Improvements	13,259
Total	15,159
Accumulated Depreciation	(3,868)
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	1,776
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	18,976
Total	21,176
Accumulated Depreciation	(5,591)
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	7,497
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	10,697
Total	11,697
Accumulated Depreciation	(8,086)
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	3,919
Gross Amount at Which Carried As of Year End
Land	1,055
Buildings and Improvements	6,063
Total	7,118
Accumulated Depreciation	(2,723)
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	5,837
Gross Amount at Which Carried As of Year End
Land	710
Buildings and Improvements	3,057
Total	3,767
Accumulated Depreciation	(1,735)
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	2,408
Total	3,101
Accumulated Depreciation	(1,066)
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	1,889
Gross Amount at Which Carried As of Year End
Land	1,222
Buildings and Improvements	7,885
Total	9,107
Accumulated Depreciation	(3,533)
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	16,229
Total	17,454
Accumulated Depreciation	(7,563)
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	7,562
Total	8,845
Accumulated Depreciation	(3,542)
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	6,956
Gross Amount at Which Carried As of Year End
Land	1,566
Buildings and Improvements	20,398
Total	21,964
Accumulated Depreciation	(9,405)
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	4,660
Gross Amount at Which Carried As of Year End
Land	1,249
Buildings and Improvements	6,791
Total	8,040
Accumulated Depreciation	(2,659)
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	12,511
Gross Amount at Which Carried As of Year End
Land	9,719
Buildings and Improvements	34,365
Total	44,084
Accumulated Depreciation	(10,347)
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	1,661
Gross Amount at Which Carried As of Year End
Land	6,276
Buildings and Improvements	21,420
Total	27,696
Accumulated Depreciation	(6,311)
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	13,593
Gross Amount at Which Carried As of Year End
Land	7,287
Buildings and Improvements	22,680
Total	29,967
Accumulated Depreciation	(7,827)
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	7,128
Gross Amount at Which Carried As of Year End
Land	8,767
Buildings and Improvements	22,255
Total	31,022
Accumulated Depreciation	(9,216)
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	843
Gross Amount at Which Carried As of Year End
Land	2,686
Buildings and Improvements	11,548
Total	14,234
Accumulated Depreciation	(3,539)
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	9,320
Gross Amount at Which Carried As of Year End
Land	8,777
Buildings and Improvements	41,451
Total	50,228
Accumulated Depreciation	(6,882)
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	(3,830)
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	(4,408)
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	(2,098)
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	26,607
Gross Amount at Which Carried As of Year End
Land	11,024
Buildings and Improvements	29,012
Total	40,036
Accumulated Depreciation	(2,212)
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	10,501
Gross Amount at Which Carried As of Year End
Land	5,051
Buildings and Improvements	10,501
Total	15,552
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	10,192
Gross Amount at Which Carried As of Year End
Land	5,655
Buildings and Improvements	10,192
Total	15,847
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	(4,470)
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	2,307
Gross Amount at Which Carried As of Year End
Land	3,407
Buildings and Improvements	6,907
Total	10,314
Accumulated Depreciation	(3,304)
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	(1,806)
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	1,678
Gross Amount at Which Carried As of Year End
Land	3,607
Buildings and Improvements	5,842
Total	9,449
Accumulated Depreciation	(2,062)
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	(2,376)
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	4,169
Gross Amount at Which Carried As of Year End
Land	4,818
Buildings and Improvements	19,817
Total	24,635
Accumulated Depreciation	(5,863)
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	8,341
Gross Amount at Which Carried As of Year End
Land	5,418
Buildings and Improvements	23,819
Total	29,237
Accumulated Depreciation	(6,148)
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	(2,038)
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	14,666
Gross Amount at Which Carried As of Year End
Land	6,018
Buildings and Improvements	28,340
Total	34,358
Accumulated Depreciation	(8,162)
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	13,722
Gross Amount at Which Carried As of Year End
Land	1,912
Buildings and Improvements	26,510
Total	28,422
Accumulated Depreciation	(10,668)
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	12,309
Gross Amount at Which Carried As of Year End
Land	2,712
Buildings and Improvements	18,046
Total	20,758
Accumulated Depreciation	(4,331)
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	(10,553)
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	9,890
Gross Amount at Which Carried As of Year End
Land	2,212
Buildings and Improvements	17,996
Total	20,208
Accumulated Depreciation	(4,281)
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	6,120
Gross Amount at Which Carried As of Year End
Land	2,612
Buildings and Improvements	14,808
Total	17,420
Accumulated Depreciation	(3,228)
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	12,398
Gross Amount at Which Carried As of Year End
Land	3,300
Buildings and Improvements	30,398
Total	33,698
Accumulated Depreciation	(11,493)
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	15,279
Gross Amount at Which Carried As of Year End
Land	3,326
Buildings and Improvements	33,153
Total	36,479
Accumulated Depreciation	(14,297)
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	3,166
Gross Amount at Which Carried As of Year End
Land	2,603
Buildings and Improvements	14,217
Total	16,820
Accumulated Depreciation	(5,368)
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	27,021
Gross Amount at Which Carried As of Year End
Land	5,669
Buildings and Improvements	46,887
Total	52,556
Accumulated Depreciation	(15,055)
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	9,100
Gross Amount at Which Carried As of Year End
Land	4,630
Buildings and Improvements	5,193
Total	9,823
Accumulated Depreciation	(1,600)
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	5,189
Gross Amount at Which Carried As of Year End
Land	2,040
Buildings and Improvements	4,138
Total	6,178
Accumulated Depreciation	(878)
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	6,003
Gross Amount at Which Carried As of Year End
Land	4,047
Buildings and Improvements	4,917
Total	8,964
Accumulated Depreciation	(1,730)
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	(1,916)
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	9,087
Gross Amount at Which Carried As of Year End
Land	11,700
Buildings and Improvements	33,968
Total	45,668
Accumulated Depreciation	(9,190)
1419 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,324
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,977
Gross Amount at Which Carried As of Year End
Land	2,324
Buildings and Improvements	2,977
Total	5,301
Accumulated Depreciation	0
1420 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,200
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	4,432
Gross Amount at Which Carried As of Year End
Land	4,200
Buildings and Improvements	4,432
Total	8,632
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	(11,124)
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	4,900
Gross Amount at Which Carried As of Year End
Land	7,336
Buildings and Improvements	8,391
Total	15,727
Accumulated Depreciation	(3,538)
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	9,191
Gross Amount at Which Carried As of Year End
Land	8,400
Buildings and Improvements	42,335
Total	50,735
Accumulated Depreciation	(9,537)
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	3,829
Gross Amount at Which Carried As of Year End
Land	7,888
Buildings and Improvements	25,104
Total	32,992
Accumulated Depreciation	(8,138)
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	4,231
Gross Amount at Which Carried As of Year End
Land	2,581
Buildings and Improvements	14,765
Total	17,346
Accumulated Depreciation	(4,682)
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	3,385
Gross Amount at Which Carried As of Year End
Land	5,879
Buildings and Improvements	26,392
Total	32,271
Accumulated Depreciation	(7,671)
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	8,541
Gross Amount at Which Carried As of Year End
Land	7,626
Buildings and Improvements	11,158
Total	18,784
Accumulated Depreciation	(3,529)
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	7,418
Gross Amount at Which Carried As of Year End
Land	7,661
Buildings and Improvements	17,336
Total	24,997
Accumulated Depreciation	(206)
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	6,558
Gross Amount at Which Carried As of Year End
Land	9,207
Buildings and Improvements	21,171
Total	30,378
Accumulated Depreciation	(2,916)
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	1,857
Gross Amount at Which Carried As of Year End
Land	6,000
Buildings and Improvements	1,857
Total	7,857
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	13,847
Gross Amount at Which Carried As of Year End
Land	2,734
Buildings and Improvements	19,042
Total	21,776
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	10,929
Gross Amount at Which Carried As of Year End
Land	4,100
Buildings and Improvements	23,324
Total	27,424
Accumulated Depreciation	(1,224)
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	14,477
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,477
Total	14,477
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	1,044
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	39,395
Total	49,515
Accumulated Depreciation	(1,673)
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	57
Gross Amount at Which Carried As of Year End
Land	6,052
Buildings and Improvements	14,460
Total	20,512
Accumulated Depreciation	(908)
3069 San Diego CA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,054
Buildings and Improvements	7,794
Costs Capitalized Subsequent to Acquisition	25
Gross Amount at Which Carried As of Year End
Land	7,054
Buildings and Improvements	7,819
Total	14,873
Accumulated Depreciation	(208)
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	10,011
Gross Amount at Which Carried As of Year End
Land	7,186
Buildings and Improvements	13,393
Total	20,579
Accumulated Depreciation	(4,572)
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	1,498
Gross Amount at Which Carried As of Year End
Land	9,000
Buildings and Improvements	18,275
Total	27,275
Accumulated Depreciation	(5,696)
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	5,260
Gross Amount at Which Carried As of Year End
Land	18,000
Buildings and Improvements	43,303
Total	61,303
Accumulated Depreciation	(13,699)
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	12,533
Gross Amount at Which Carried As of Year End
Land	4,900
Buildings and Improvements	30,544
Total	35,444
Accumulated Depreciation	(6,604)
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	12,065
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	39,682
Total	47,682
Accumulated Depreciation	(8,087)
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	4,143
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	26,425
Total	36,525
Accumulated Depreciation	(7,898)
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	7,923
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	36,222
Total	44,222
Accumulated Depreciation	(10,092)
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	(7,797)
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	21,011
Gross Amount at Which Carried As of Year End
Land	10,700
Buildings and Improvements	42,099
Total	52,799
Accumulated Depreciation	(6,791)
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	9,791
Gross Amount at Which Carried As of Year End
Land	7,000
Buildings and Improvements	25,291
Total	32,291
Accumulated Depreciation	(5,425)
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	(25,206)
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	(25,647)
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	50,146
Gross Amount at Which Carried As of Year End
Land	9,400
Buildings and Improvements	73,376
Total	82,776
Accumulated Depreciation	(22,442)
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	115
Gross Amount at Which Carried As of Year End
Land	11,900
Buildings and Improvements	68,963
Total	80,863
Accumulated Depreciation	(21,400)
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	400
Gross Amount at Which Carried As of Year End
Land	10,000
Buildings and Improvements	58,354
Total	68,354
Accumulated Depreciation	(18,005)
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	(13,521)
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	(14,751)
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	(19,688)
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	923
Gross Amount at Which Carried As of Year End
Land	10,500
Buildings and Improvements	34,699
Total	45,199
Accumulated Depreciation	(10,754)
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	(10,583)
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	8,808
Gross Amount at Which Carried As of Year End
Land	10,909
Buildings and Improvements	24,072
Total	34,981
Accumulated Depreciation	(9,029)
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	1,246
Gross Amount at Which Carried As of Year End
Land	3,600
Buildings and Improvements	1,346
Total	4,946
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	291
Gross Amount at Which Carried As of Year End
Land	2,300
Buildings and Improvements	391
Total	2,691
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	504
Gross Amount at Which Carried As of Year End
Land	3,900
Buildings and Improvements	704
Total	4,604
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	5,773
Gross Amount at Which Carried As of Year End
Land	7,117
Buildings and Improvements	4,588
Total	11,705
Accumulated Depreciation	(1,151)
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	20,861
Gross Amount at Which Carried As of Year End
Land	10,381
Buildings and Improvements	20,813
Total	31,194
Accumulated Depreciation	(5,054)
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	(1,862)
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	15,810
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	36,067
Total	46,167
Accumulated Depreciation	(8,028)
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	18,900
Gross Amount at Which Carried As of Year End
Land	32,210
Buildings and Improvements	22,010
Total	54,220
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	(14,055)
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	2,888
Gross Amount at Which Carried As of Year End
Land	1,210
Buildings and Improvements	4,060
Total	5,270
Accumulated Depreciation	(1,578)
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	96,070
Gross Amount at Which Carried As of Year End
Land	8,648
Buildings and Improvements	96,070
Total	104,718
Accumulated Depreciation	(15,537)
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	84,770
Gross Amount at Which Carried As of Year End
Land	7,844
Buildings and Improvements	84,771
Total	92,615
Accumulated Depreciation	(10,799)
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	121,730
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	121,730
Total	128,438
Accumulated Depreciation	(13,100)
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	107,108
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	107,108
Total	113,816
Accumulated Depreciation	(8,895)
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	99,902
Gross Amount at Which Carried As of Year End
Land	8,544
Buildings and Improvements	99,902
Total	108,446
Accumulated Depreciation	(3,683)
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	119,864
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	119,864
Total	129,984
Accumulated Depreciation	(3,982)
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	80,263
Gross Amount at Which Carried As of Year End
Land	9,169
Buildings and Improvements	80,263
Total	89,432
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	2,821
Gross Amount at Which Carried As of Year End
Land	2,897
Buildings and Improvements	11,512
Total	14,409
Accumulated Depreciation	(1,898)
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	2,174
Gross Amount at Which Carried As of Year End
Land	995
Buildings and Improvements	4,928
Total	5,923
Accumulated Depreciation	(650)
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	770
Gross Amount at Which Carried As of Year End
Land	2,202
Buildings and Improvements	11,546
Total	13,748
Accumulated Depreciation	(1,425)
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	1,005
Gross Amount at Which Carried As of Year End
Land	2,962
Buildings and Improvements	16,113
Total	19,075
Accumulated Depreciation	(1,834)
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	(2,302)
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	(706)
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	1,731
Gross Amount at Which Carried As of Year End
Land	5,083
Buildings and Improvements	9,662
Total	14,745
Accumulated Depreciation	(3,424)
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	14,809
Total	22,797
Accumulated Depreciation	(5,553)
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	(5,158)
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	6,169
Gross Amount at Which Carried As of Year End
Land	25,502
Buildings and Improvements	48,949
Total	74,451
Accumulated Depreciation	(4,116)
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	18,374
Gross Amount at Which Carried As of Year End
Land	23,297
Buildings and Improvements	60,171
Total	83,468
Accumulated Depreciation	(839)
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	20,625
Gross Amount at Which Carried As of Year End
Land	20,293
Buildings and Improvements	61,887
Total	82,180
Accumulated Depreciation	(3,057)
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
2928 Cambridge MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	44,215
Buildings and Improvements	24,120
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	44,215
Buildings and Improvements	24,120
Total	68,335
Accumulated Depreciation	(1,075)
2929 Cambridge MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,517
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,047
Gross Amount at Which Carried As of Year End
Land	20,517
Buildings and Improvements	2,047
Total	22,564
Accumulated Depreciation	0
3074 Cambridge MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	78,762
Buildings and Improvements	252,136
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	78,762
Buildings and Improvements	252,136
Total	330,898
Accumulated Depreciation	(602)
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	484
Gross Amount at Which Carried As of Year End
Land	16,411
Buildings and Improvements	50,165
Total	66,576
Accumulated Depreciation	(4,821)
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	15,100
Gross Amount at Which Carried As of Year End
Land	7,759
Buildings and Improvements	155,463
Total	163,222
Accumulated Depreciation	(8,785)
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	53,439
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	74,829
Total	74,829
Accumulated Depreciation	0
3070 Lexington MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,013
Buildings and Improvements	17,092
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	14,013
Buildings and Improvements	17,092
Total	31,105
Accumulated Depreciation	(275)
3071 Lexington MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,930
Buildings and Improvements	16,677
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	14,930
Buildings and Improvements	16,677
Total	31,607
Accumulated Depreciation	(350)
3072 Lexington MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	35,469
Buildings and Improvements	43,903
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	35,469
Buildings and Improvements	43,903
Total	79,372
Accumulated Depreciation	(790)
3073 Lexington MA | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	37,050
Buildings and Improvements	44,647
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	37,050
Buildings and Improvements	44,647
Total	81,697
Accumulated Depreciation	(758)
2011 Durham NC | Life science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,620
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	23,852
Total	24,300
Accumulated Depreciation	(5,997)
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	34,749
Gross Amount at Which Carried As of Year End
Land	1,920
Buildings and Improvements	40,410
Total	42,330
Accumulated Depreciation	(10,874)
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	9,482
Total	10,112
Accumulated Depreciation	(4,019)
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	(2,675)
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	(5,527)
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	(4,711)
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	(6,848)
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	12,384
Gross Amount at Which Carried As of Year End
Land	1,456
Buildings and Improvements	22,981
Total	24,437
Accumulated Depreciation	(8,902)
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	(2,748)
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	6,885
Gross Amount at Which Carried As of Year End
Land	3,749
Buildings and Improvements	19,077
Total	22,826
Accumulated Depreciation	(6,360)
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	1,662
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,775
Total	18,775
Accumulated Depreciation	(3,608)
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	995
Gross Amount at Which Carried As of Year End
Land	1,084
Buildings and Improvements	7,160
Total	8,244
Accumulated Depreciation	(3,335)
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	2,807
Gross Amount at Which Carried As of Year End
Land	865
Buildings and Improvements	4,999
Total	5,864
Accumulated Depreciation	(2,609)
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	172
Gross Amount at Which Carried As of Year End
Land	280
Buildings and Improvements	1,014
Total	1,294
Accumulated Depreciation	(427)
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	4,434
Gross Amount at Which Carried As of Year End
Land	4,839
Buildings and Improvements	16,988
Total	21,827
Accumulated Depreciation	(6,134)
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	4,023
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	15,826
Total	15,826
Accumulated Depreciation	(5,317)
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	1,890
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,919
Total	10,919
Accumulated Depreciation	(4,322)
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	2,079
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,235
Total	8,235
Accumulated Depreciation	(2,841)
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	925
Gross Amount at Which Carried As of Year End
Land	32
Buildings and Improvements	10,349
Total	10,381
Accumulated Depreciation	(3,399)
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	2,230
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,116
Total	6,116
Accumulated Depreciation	(2,384)
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	2,179
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,648
Total	5,648
Accumulated Depreciation	(1,624)
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	2,508
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,452
Total	9,452
Accumulated Depreciation	(3,156)
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	4,024
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,683
Total	10,683
Accumulated Depreciation	(3,067)
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	1,576
Gross Amount at Which Carried As of Year End
Land	326
Buildings and Improvements	7,225
Total	7,551
Accumulated Depreciation	(4,032)
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	1,678
Gross Amount at Which Carried As of Year End
Land	267
Buildings and Improvements	5,138
Total	5,405
Accumulated Depreciation	(2,038)
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	32,897
Total	33,206
Accumulated Depreciation	(11,460)
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	6,340
Gross Amount at Which Carried As of Year End
Land	6,757
Buildings and Improvements	14,584
Total	21,341
Accumulated Depreciation	(5,751)
1038 Fresno CA | Medical office | 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	(18,753)
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	5,067
Gross Amount at Which Carried As of Year End
Land	749
Buildings and Improvements	12,400
Total	13,149
Accumulated Depreciation	(6,729)
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	4,929
Gross Amount at Which Carried As of Year End
Land	2,965
Buildings and Improvements	13,121
Total	16,086
Accumulated Depreciation	(7,477)
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	444
Gross Amount at Which Carried As of Year End
Land	2,758
Buildings and Improvements	10,315
Total	13,073
Accumulated Depreciation	(872)
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	63,526
Total	66,437
Accumulated Depreciation	(15,815)
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	996
Gross Amount at Which Carried As of Year End
Land	1,299
Buildings and Improvements	6,045
Total	7,344
Accumulated Depreciation	(1,242)
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	(3,559)
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	7,475
Total	10,543
Accumulated Depreciation	(5,033)
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	15,996
Total	20,707
Accumulated Depreciation	(10,428)
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	16,395
Gross Amount at Which Carried As of Year End
Land	2,964
Buildings and Improvements	35,006
Total	37,970
Accumulated Depreciation	(11,554)
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	2,922
Gross Amount at Which Carried As of Year End
Land	1,935
Buildings and Improvements	3,242
Total	5,177
Accumulated Depreciation	(1,522)
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	1,010
Gross Amount at Which Carried As of Year End
Land	1,460
Buildings and Improvements	8,201
Total	9,661
Accumulated Depreciation	(3,462)
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	685
Gross Amount at Which Carried As of Year End
Land	1,758
Buildings and Improvements	3,453
Total	5,211
Accumulated Depreciation	(1,436)
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	4,243
Gross Amount at Which Carried As of Year End
Land	2,404
Buildings and Improvements	9,027
Total	11,431
Accumulated Depreciation	(4,539)
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	881
Gross Amount at Which Carried As of Year End
Land	1,383
Buildings and Improvements	8,002
Total	9,385
Accumulated Depreciation	(2,753)
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	4,725
Gross Amount at Which Carried As of Year End
Land	2,259
Buildings and Improvements	12,145
Total	14,404
Accumulated Depreciation	(6,617)
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	3,384
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,362
Total	9,362
Accumulated Depreciation	(4,027)
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	7,378
Gross Amount at Which Carried As of Year End
Land	210
Buildings and Improvements	18,794
Total	19,004
Accumulated Depreciation	(5,469)
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	5,818
Gross Amount at Which Carried As of Year End
Land	285
Buildings and Improvements	13,512
Total	13,797
Accumulated Depreciation	(4,545)
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	11,330
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	20,207
Total	20,207
Accumulated Depreciation	(6,923)
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	8,721
Total	9,343
Accumulated Depreciation	(3,687)
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	9,521
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	16,263
Total	16,274
Accumulated Depreciation	(7,772)
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	5,219
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,502
Total	11,502
Accumulated Depreciation	(4,590)
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	13,629
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,028
Total	19,028
Accumulated Depreciation	(6,453)
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	10,255
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,948
Total	16,948
Accumulated Depreciation	(5,354)
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	(774)
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	2,583
Gross Amount at Which Carried As of Year End
Land	257
Buildings and Improvements	5,710
Total	5,967
Accumulated Depreciation	(2,672)
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	2,511
Gross Amount at Which Carried As of Year End
Land	106
Buildings and Improvements	6,277
Total	6,383
Accumulated Depreciation	(2,356)
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	21,061
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,853
Total	19,853
Accumulated Depreciation	(7,586)
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	4,408
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	25,586
Total	25,603
Accumulated Depreciation	(9,071)
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	30,220
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	36,843
Total	36,843
Accumulated Depreciation	(6,438)
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	1,212
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	14,282
Total	14,290
Accumulated Depreciation	(5,189)
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	4,400
Gross Amount at Which Carried As of Year End
Land	463
Buildings and Improvements	12,862
Total	13,325
Accumulated Depreciation	(5,435)
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	(1,242)
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	(1,353)
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	1,025
Gross Amount at Which Carried As of Year End
Land	455
Buildings and Improvements	2,863
Total	3,318
Accumulated Depreciation	(1,215)
2963 Brooksville 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	0
Costs Capitalized Subsequent to Acquisition	782
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	782
Total	782
Accumulated Depreciation	0
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	503
Gross Amount at Which Carried As of Year End
Land	226
Buildings and Improvements	1,306
Total	1,532
Accumulated Depreciation	(577)
2962 Jacksonville 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	0
Costs Capitalized Subsequent to Acquisition	347
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	347
Total	347
Accumulated Depreciation	0
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	1,225
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	1,256
Total	2,044
Accumulated Depreciation	(322)
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	778
Total	1,272
Accumulated Depreciation	(436)
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	2,674
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,357
Total	8,357
Accumulated Depreciation	(3,188)
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	4,541
Total	6,048
Accumulated Depreciation	(2,445)
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	2,143
Gross Amount at Which Carried As of Year End
Land	1,553
Buildings and Improvements	8,697
Total	10,250
Accumulated Depreciation	(3,395)
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	5,688
Gross Amount at Which Carried As of Year End
Land	4,392
Buildings and Improvements	14,920
Total	19,312
Accumulated Depreciation	(5,933)
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	7,994
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	20,815
Total	20,815
Accumulated Depreciation	(4,796)
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	3,915
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,698
Total	12,698
Accumulated Depreciation	(2,897)
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	649
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,172
Total	9,172
Accumulated Depreciation	(2,999)
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	1,367
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	30,553
Total	30,553
Accumulated Depreciation	(2,711)
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	702
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,521
Total	19,521
Accumulated Depreciation	(1,483)
2964 Okeechobee 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	0
Costs Capitalized Subsequent to Acquisition	89
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	89
Total	89
Accumulated Depreciation	0
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	15,562
Gross Amount at Which Carried As of Year End
Land	12,268
Buildings and Improvements	8,412
Total	20,680
Accumulated Depreciation	(5,077)
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	3,624
Gross Amount at Which Carried As of Year End
Land	26
Buildings and Improvements	11,613
Total	11,639
Accumulated Depreciation	(3,709)
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	669
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,835
Total	11,835
Accumulated Depreciation	(3,908)
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	2,059
Gross Amount at Which Carried As of Year End
Land	1,091
Buildings and Improvements	8,675
Total	9,766
Accumulated Depreciation	(3,266)
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	(839)
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	14,642
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	25,323
Total	25,323
Accumulated Depreciation	(7,091)
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	6,618
Costs Capitalized Subsequent to Acquisition	8,216
Gross Amount at Which Carried As of Year End
Land	2,722
Buildings and Improvements	10,872
Total	13,594
Accumulated Depreciation	(5,355)
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	(1,150)
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	194
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,428
Total	10,428
Accumulated Depreciation	(1,249)
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	2,118
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	13,213
Total	13,313
Accumulated Depreciation	(4,267)
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	5,280
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,291
Total	19,291
Accumulated Depreciation	(6,777)
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	2,137
Total	2,585
Accumulated Depreciation	(460)
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	1,386
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,054
Total	9,054
Accumulated Depreciation	(1,989)
3062 Overland Park KS | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	872
Buildings and Improvements	11,813
Costs Capitalized Subsequent to Acquisition	27
Gross Amount at Which Carried As of Year End
Land	872
Buildings and Improvements	11,840
Total	12,712
Accumulated Depreciation	(403)
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	(1,433)
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	2,032
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,501
Total	14,501
Accumulated Depreciation	(5,294)
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	18,384
Gross Amount at Which Carried As of Year End
Land	936
Buildings and Improvements	24,203
Total	25,139
Accumulated Depreciation	(10,700)
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	8,368
Gross Amount at Which Carried As of Year End
Land	878
Buildings and Improvements	33,296
Total	34,174
Accumulated Depreciation	(12,872)
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	6,643
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	12,630
Total	13,481
Accumulated Depreciation	(8,657)
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	3,020
Gross Amount at Which Carried As of Year End
Land	832
Buildings and Improvements	15,295
Total	16,127
Accumulated Depreciation	(5,549)
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	6,815
Gross Amount at Which Carried As of Year End
Land	2,991
Buildings and Improvements	18,508
Total	21,499
Accumulated Depreciation	(8,608)
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	(869)
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	1,770
Gross Amount at Which Carried As of Year End
Land	3,291
Buildings and Improvements	29,880
Total	33,171
Accumulated Depreciation	(9,019)
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	(1,906)
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	3,943
Gross Amount at Which Carried As of Year End
Land	1,648
Buildings and Improvements	19,194
Total	20,842
Accumulated Depreciation	(4,220)
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	2,293
Gross Amount at Which Carried As of Year End
Land	1,511
Buildings and Improvements	14,208
Total	15,719
Accumulated Depreciation	(3,381)
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	5,804
Gross Amount at Which Carried As of Year End
Land	2,041
Buildings and Improvements	16,191
Total	18,232
Accumulated Depreciation	(4,029)
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	2,335
Gross Amount at Which Carried As of Year End
Land	869
Buildings and Improvements	9,092
Total	9,961
Accumulated Depreciation	(3,027)
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	3,154
Gross Amount at Which Carried As of Year End
Land	1,222
Buildings and Improvements	4,955
Total	6,177
Accumulated Depreciation	(2,256)
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	4,619
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,549
Total	13,549
Accumulated Depreciation	(4,159)
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	(916)
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	5,342
Gross Amount at Which Carried As of Year End
Land	117
Buildings and Improvements	17,273
Total	17,390
Accumulated Depreciation	(9,168)
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	5,006
Gross Amount at Which Carried As of Year End
Land	160
Buildings and Improvements	13,891
Total	14,051
Accumulated Depreciation	(8,084)
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	2,743
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	49,741
Total	49,741
Accumulated Depreciation	(8,353)
2863 Lee's Summitt 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	0
Costs Capitalized Subsequent to Acquisition	7,557
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,557
Total	7,557
Accumulated Depreciation	0
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	1,239
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,984
Total	8,984
Accumulated Depreciation	(2,840)
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	231
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,091
Total	9,091
Accumulated Depreciation	(2,998)
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	2,270
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,379
Total	8,379
Accumulated Depreciation	(2,725)
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	1,589
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	17,457
Total	17,474
Accumulated Depreciation	(6,176)
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	87
Gross Amount at Which Carried As of Year End
Land	2,001
Buildings and Improvements	11,267
Total	13,268
Accumulated Depreciation	(776)
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	(1,408)
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	(858)
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	(369)
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	109
Gross Amount at Which Carried As of Year End
Land	1,961
Buildings and Improvements	23,419
Total	25,380
Accumulated Depreciation	(1,633)
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	421
Gross Amount at Which Carried As of Year End
Land	815
Buildings and Improvements	9,323
Total	10,138
Accumulated Depreciation	(800)
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	38
Gross Amount at Which Carried As of Year End
Land	919
Buildings and Improvements	5,906
Total	6,825
Accumulated Depreciation	(643)
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	755
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,596
Total	5,596
Accumulated Depreciation	(1,918)
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	20,710
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,592
Total	18,592
Accumulated Depreciation	(6,847)
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	7,746
Gross Amount at Which Carried As of Year End
Land	1,328
Buildings and Improvements	8,579
Total	9,907
Accumulated Depreciation	(3,149)
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	6,211
Gross Amount at Which Carried As of Year End
Land	2,447
Buildings and Improvements	4,828
Total	7,275
Accumulated Depreciation	(4,966)
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	6,506
Gross Amount at Which Carried As of Year End
Land	3,480
Buildings and Improvements	15,535
Total	19,015
Accumulated Depreciation	(6,322)
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	12,143
Gross Amount at Which Carried As of Year End
Land	1,724
Buildings and Improvements	13,892
Total	15,616
Accumulated Depreciation	(4,025)
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	(179)
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	8,391
Gross Amount at Which Carried As of Year End
Land	3,338
Buildings and Improvements	25,148
Total	28,486
Accumulated Depreciation	(11,806)
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	782
Gross Amount at Which Carried As of Year End
Land	34
Buildings and Improvements	6,197
Total	6,231
Accumulated Depreciation	(1,166)
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	(2,898)
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	2,361
Gross Amount at Which Carried As of Year End
Land	659
Buildings and Improvements	11,520
Total	12,179
Accumulated Depreciation	(3,774)
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	1,599
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,657
Total	5,657
Accumulated Depreciation	(1,878)
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	(3,931)
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	(2,343)
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	39,586
Gross Amount at Which Carried As of Year End
Land	24,288
Buildings and Improvements	139,329
Total	163,617
Accumulated Depreciation	(17,840)
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	18,609
Gross Amount at Which Carried As of Year End
Land	26,134
Buildings and Improvements	116,184
Total	142,318
Accumulated Depreciation	(21,338)
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	(1,093)
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	(1,157)
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	(1,165)
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	(1,315)
2841 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	634
Buildings and Improvements	38,386
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	634
Buildings and Improvements	38,386
Total	39,020
Accumulated Depreciation	(2,553)
2842 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	794
Buildings and Improvements	41,293
Costs Capitalized Subsequent to Acquisition	475
Gross Amount at Which Carried As of Year End
Land	794
Buildings and Improvements	41,768
Total	42,562
Accumulated Depreciation	(2,782)
2843 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	626
Buildings and Improvements	22,210
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	626
Buildings and Improvements	22,210
Total	22,836
Accumulated Depreciation	(1,547)
2844 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	806
Buildings and Improvements	18,889
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	806
Buildings and Improvements	18,889
Total	19,695
Accumulated Depreciation	(1,376)
2845 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	932
Buildings and Improvements	40,879
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	932
Buildings and Improvements	40,879
Total	41,811
Accumulated Depreciation	(2,518)
2846 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	896
Buildings and Improvements	38,486
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	896
Buildings and Improvements	38,485
Total	39,381
Accumulated Depreciation	(2,404)
2847 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	600
Buildings and Improvements	26,472
Costs Capitalized Subsequent to Acquisition	576
Gross Amount at Which Carried As of Year End
Land	600
Buildings and Improvements	27,048
Total	27,648
Accumulated Depreciation	(2,174)
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	(396)
2849 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	319
Buildings and Improvements	5,836
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	319
Buildings and Improvements	5,836
Total	6,155
Accumulated Depreciation	(440)
2850 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	211
Buildings and Improvements	6,503
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	211
Buildings and Improvements	6,503
Total	6,714
Accumulated Depreciation	(497)
2853 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	534
Buildings and Improvements	6,430
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	534
Buildings and Improvements	6,430
Total	6,964
Accumulated Depreciation	(791)
2854 Greenville SC | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	824
Buildings and Improvements	13,645
Costs Capitalized Subsequent to Acquisition	17
Gross Amount at Which Carried As of Year End
Land	824
Buildings and Improvements	13,662
Total	14,486
Accumulated Depreciation	(1,211)
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	(223)
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	25,516
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	25,516
Total	25,516
Accumulated Depreciation	(177)
2865 Brentwood TN | 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	10,332
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,332
Total	10,332
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	2,809
Gross Amount at Which Carried As of Year End
Land	256
Buildings and Improvements	3,443
Total	3,699
Accumulated Depreciation	(1,266)
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	13,180
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	16,080
Total	16,931
Accumulated Depreciation	(4,365)
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	7,037
Gross Amount at Which Carried As of Year End
Land	596
Buildings and Improvements	14,514
Total	15,110
Accumulated Depreciation	(6,681)
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	3,981
Gross Amount at Which Carried As of Year End
Land	317
Buildings and Improvements	8,574
Total	8,891
Accumulated Depreciation	(3,709)
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	5,087
Gross Amount at Which Carried As of Year End
Land	700
Buildings and Improvements	8,825
Total	9,525
Accumulated Depreciation	(5,032)
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	5,557
Gross Amount at Which Carried As of Year End
Land	955
Buildings and Improvements	17,592
Total	18,547
Accumulated Depreciation	(6,517)
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	5,054
Gross Amount at Which Carried As of Year End
Land	2,055
Buildings and Improvements	8,838
Total	10,893
Accumulated Depreciation	(3,897)
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	1,155
Gross Amount at Which Carried As of Year End
Land	1,113
Buildings and Improvements	965
Total	2,078
Accumulated Depreciation	(357)
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	4,418
Gross Amount at Which Carried As of Year End
Land	2,980
Buildings and Improvements	10,536
Total	13,516
Accumulated Depreciation	(4,563)
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	1,072
Total	1,600
Accumulated Depreciation	(433)
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	1,740
Gross Amount at Which Carried As of Year End
Land	266
Buildings and Improvements	2,438
Total	2,704
Accumulated Depreciation	(1,087)
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	5,308
Gross Amount at Which Carried As of Year End
Land	827
Buildings and Improvements	10,582
Total	11,409
Accumulated Depreciation	(4,095)
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	7,041
Gross Amount at Which Carried As of Year End
Land	5,425
Buildings and Improvements	16,453
Total	21,878
Accumulated Depreciation	(7,441)
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	11,430
Gross Amount at Which Carried As of Year End
Land	3,818
Buildings and Improvements	23,466
Total	27,284
Accumulated Depreciation	(10,394)
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	403
Gross Amount at Which Carried As of Year End
Land	583
Buildings and Improvements	760
Total	1,343
Accumulated Depreciation	(288)
2967 Nashville TN | 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	85
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	85
Total	85
Accumulated Depreciation	0
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	621
Gross Amount at Which Carried As of Year End
Land	1,374
Buildings and Improvements	6,537
Total	7,911
Accumulated Depreciation	(709)
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	629
Gross Amount at Which Carried As of Year End
Land	1,310
Buildings and Improvements	4,794
Total	6,104
Accumulated Depreciation	(624)
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	4,793
Gross Amount at Which Carried As of Year End
Land	769
Buildings and Improvements	15,519
Total	16,288
Accumulated Depreciation	(6,546)
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	73
Gross Amount at Which Carried As of Year End
Land	1,617
Buildings and Improvements	11,713
Total	13,330
Accumulated Depreciation	(712)
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	3,945
Gross Amount at Which Carried As of Year End
Land	324
Buildings and Improvements	7,284
Total	7,608
Accumulated Depreciation	(2,607)
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	2,647
Gross Amount at Which Carried As of Year End
Land	397
Buildings and Improvements	9,923
Total	10,320
Accumulated Depreciation	(4,374)
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	4,477
Gross Amount at Which Carried As of Year End
Land	388
Buildings and Improvements	10,421
Total	10,809
Accumulated Depreciation	(4,026)
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	1,358
Gross Amount at Which Carried As of Year End
Land	188
Buildings and Improvements	4,778
Total	4,966
Accumulated Depreciation	(2,131)
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	6,344
Gross Amount at Which Carried As of Year End
Land	717
Buildings and Improvements	12,057
Total	12,774
Accumulated Depreciation	(5,252)
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	4,540
Gross Amount at Which Carried As of Year End
Land	328
Buildings and Improvements	5,873
Total	6,201
Accumulated Depreciation	(2,574)
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	2,084
Gross Amount at Which Carried As of Year End
Land	325
Buildings and Improvements	3,103
Total	3,428
Accumulated Depreciation	(1,384)
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	35,839
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	35,828
Total	35,839
Accumulated Depreciation	(5,800)
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	5,468
Gross Amount at Which Carried As of Year End
Land	1,747
Buildings and Improvements	10,094
Total	11,841
Accumulated Depreciation	(3,915)
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	162,970
Costs Capitalized Subsequent to Acquisition	44,309
Gross Amount at Which Carried As of Year End
Land	24,102
Buildings and Improvements	194,387
Total	218,489
Accumulated Depreciation	(67,606)
1319 Dallas TX | Medical office | 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	4,196
Gross Amount at Which Carried As of Year End
Land	18,840
Buildings and Improvements	159,855
Total	178,695
Accumulated Depreciation	(57,671)
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	4,009
Gross Amount at Which Carried As of Year End
Land	898
Buildings and Improvements	7,972
Total	8,870
Accumulated Depreciation	(2,999)
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	1,595
Gross Amount at Which Carried As of Year End
Land	2
Buildings and Improvements	3,562
Total	3,564
Accumulated Depreciation	(1,914)
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	1,274
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	7,037
Total	7,042
Accumulated Depreciation	(2,504)
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	(21)
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	19
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	13,451
Total	14,631
Accumulated Depreciation	(764)
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	(846)
2982 Fort Worth TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,720
Buildings and Improvements	6,225
Costs Capitalized Subsequent to Acquisition	50
Gross Amount at Which Carried As of Year End
Land	2,720
Buildings and Improvements	6,275
Total	8,995
Accumulated Depreciation	0
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	(2,579)
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	18,670
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	49,099
Total	51,299
Accumulated Depreciation	(22,994)
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	21,987
Gross Amount at Which Carried As of Year End
Land	2,945
Buildings and Improvements	32,853
Total	35,798
Accumulated Depreciation	(20,856)
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	7,377
Gross Amount at Which Carried As of Year End
Land	1,706
Buildings and Improvements	16,726
Total	18,432
Accumulated Depreciation	(6,815)
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	1,626
Gross Amount at Which Carried As of Year End
Land	318
Buildings and Improvements	3,660
Total	3,978
Accumulated Depreciation	(1,571)
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	3,749
Gross Amount at Which Carried As of Year End
Land	7
Buildings and Improvements	9,964
Total	9,971
Accumulated Depreciation	(3,592)
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	3,599
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,555
Total	6,555
Accumulated Depreciation	(2,123)
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	(2,455)
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	(1,070)
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	(1,990)
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	(1,745)
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	(3,606)
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	(3,032)
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	(1,501)
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	(2,509)
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	3,499
Gross Amount at Which Carried As of Year End
Land	828
Buildings and Improvements	8,926
Total	9,754
Accumulated Depreciation	(3,981)
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	4,120
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	11,612
Total	11,620
Accumulated Depreciation	(5,838)
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	2,242
Gross Amount at Which Carried As of Year End
Land	1,986
Buildings and Improvements	14,866
Total	16,852
Accumulated Depreciation	(5,596)
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	1,378
Gross Amount at Which Carried As of Year End
Land	3,422
Buildings and Improvements	29,364
Total	32,786
Accumulated Depreciation	(3,391)
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	2,458
Gross Amount at Which Carried As of Year End
Land	561
Buildings and Improvements	9,806
Total	10,367
Accumulated Depreciation	(4,096)
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	850
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	8,405
Total	8,507
Accumulated Depreciation	(4,692)
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	299
Gross Amount at Which Carried As of Year End
Land	338
Buildings and Improvements	2,609
Total	2,947
Accumulated Depreciation	(1,354)
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	3,907
Gross Amount at Which Carried As of Year End
Land	541
Buildings and Improvements	9,081
Total	9,622
Accumulated Depreciation	(3,558)
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	8,832
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,565
Total	8,565
Accumulated Depreciation	(3,258)
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	1,787
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,113
Total	10,113
Accumulated Depreciation	(3,703)
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	3,446
Gross Amount at Which Carried As of Year End
Land	812
Buildings and Improvements	11,311
Total	12,123
Accumulated Depreciation	(4,595)
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	2,197
Gross Amount at Which Carried As of Year End
Land	1,400
Buildings and Improvements	12,111
Total	13,511
Accumulated Depreciation	(3,649)
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	4,800
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,363
Total	7,363
Accumulated Depreciation	(2,489)
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	19,120
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,120
Total	19,120
Accumulated Depreciation	(2,549)
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	6,696
Gross Amount at Which Carried As of Year End
Land	1,792
Buildings and Improvements	13,450
Total	15,242
Accumulated Depreciation	(7,640)
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	6,171
Gross Amount at Which Carried As of Year End
Land	1,225
Buildings and Improvements	14,322
Total	15,547
Accumulated Depreciation	(5,627)
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	3,490
Gross Amount at Which Carried As of Year End
Land	1,389
Buildings and Improvements	14,633
Total	16,022
Accumulated Depreciation	(5,723)
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	2,450
Gross Amount at Which Carried As of Year End
Land	2,162
Buildings and Improvements	18,575
Total	20,737
Accumulated Depreciation	(9,838)
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	(630)
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	3,212
Gross Amount at Which Carried As of Year End
Land	87
Buildings and Improvements	11,294
Total	11,381
Accumulated Depreciation	(4,419)
816 San Antonio TX | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	2,838
Initial Cost to Company
Land	0
Buildings and Improvements	8,699
Costs Capitalized Subsequent to Acquisition	3,885
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	11,515
Total	11,690
Accumulated Depreciation	(4,668)
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	7,958
Total	8,001
Accumulated Depreciation	(2,805)
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	2,999
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	28,750
Total	28,750
Accumulated Depreciation	(8,781)
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	28,562
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	28,562
Total	28,562
Accumulated Depreciation	(2,644)
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	3,882
Gross Amount at Which Carried As of Year End
Land	1,170
Buildings and Improvements	7,551
Total	8,721
Accumulated Depreciation	(2,956)
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	943
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,305
Total	10,305
Accumulated Depreciation	(3,519)
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	411
Gross Amount at Which Carried As of Year End
Land	125
Buildings and Improvements	9,388
Total	9,513
Accumulated Depreciation	(5,378)
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	(726)
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	(2,223)
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	(2,723)
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	1,115
Gross Amount at Which Carried As of Year End
Land	1,019
Buildings and Improvements	8,467
Total	9,486
Accumulated Depreciation	(2,690)
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	2,048
Gross Amount at Which Carried As of Year End
Land	397
Buildings and Improvements	6,464
Total	6,861
Accumulated Depreciation	(3,246)
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	(1,099)
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	255
Gross Amount at Which Carried As of Year End
Land	300
Buildings and Improvements	1,373
Total	1,673
Accumulated Depreciation	(801)
2035 Draper UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,760
Initial Cost to Company
Land	0
Buildings and Improvements	10,803
Costs Capitalized Subsequent to Acquisition	607
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,278
Total	11,278
Accumulated Depreciation	(2,085)
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	4,639
Total	5,169
Accumulated Depreciation	(1,961)
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	1,498
Gross Amount at Which Carried As of Year End
Land	389
Buildings and Improvements	8,185
Total	8,574
Accumulated Depreciation	(4,344)
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	672
Gross Amount at Which Carried As of Year End
Land	27
Buildings and Improvements	11,386
Total	11,413
Accumulated Depreciation	(1,943)
2864 Ogden 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	0
Costs Capitalized Subsequent to Acquisition	6,833
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,833
Total	6,833
Accumulated Depreciation	0
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	3,284
Gross Amount at Which Carried As of Year End
Land	306
Buildings and Improvements	9,363
Total	9,669
Accumulated Depreciation	(5,022)
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	235
Gross Amount at Which Carried As of Year End
Land	273
Buildings and Improvements	870
Total	1,143
Accumulated Depreciation	(540)
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	3,322
Gross Amount at Which Carried As of Year End
Land	220
Buildings and Improvements	12,997
Total	13,217
Accumulated Depreciation	(7,194)
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	2,950
Gross Amount at Which Carried As of Year End
Land	180
Buildings and Improvements	16,872
Total	17,052
Accumulated Depreciation	(9,956)
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	2,887
Gross Amount at Which Carried As of Year End
Land	3,145
Buildings and Improvements	9,748
Total	12,893
Accumulated Depreciation	(4,476)
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	3,820
Gross Amount at Which Carried As of Year End
Land	509
Buildings and Improvements	7,153
Total	7,662
Accumulated Depreciation	(2,966)
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	738
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,043
Total	13,043
Accumulated Depreciation	(2,437)
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	1,725
Gross Amount at Which Carried As of Year End
Land	1,343
Buildings and Improvements	4,615
Total	5,958
Accumulated Depreciation	(1,710)
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	1,210
Gross Amount at Which Carried As of Year End
Land	529
Buildings and Improvements	3,939
Total	4,468
Accumulated Depreciation	(1,541)
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	2,516
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	5,655
Total	5,672
Accumulated Depreciation	(3,480)
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	1,726
Gross Amount at Which Carried As of Year End
Land	15
Buildings and Improvements	3,682
Total	3,697
Accumulated Depreciation	(1,976)
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	12,142
Total	12,142
Accumulated Depreciation	(2,108)
2036 West Jordan UT | Medical office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	99
Initial Cost to Company
Land	0
Buildings and Improvements	1,383
Costs Capitalized Subsequent to Acquisition	1,621
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,875
Total	2,875
Accumulated Depreciation	(957)
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	998
Gross Amount at Which Carried As of Year End
Land	410
Buildings and Improvements	8,255
Total	8,665
Accumulated Depreciation	(4,127)
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	14,020
Gross Amount at Which Carried As of Year End
Land	8,840
Buildings and Improvements	29,002
Total	37,842
Accumulated Depreciation	(11,531)
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	(1,326)
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	11,905
Total	11,905
Accumulated Depreciation	(5,196)
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	4,608
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,054
Total	22,054
Accumulated Depreciation	(12,582)
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	17,690
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	65,098
Total	65,098
Accumulated Depreciation	(27,756)
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	13,823
Gross Amount at Which Carried As of Year End
Land	126
Buildings and Improvements	34,710
Total	34,836
Accumulated Depreciation	(16,929)
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	1,931
Gross Amount at Which Carried As of Year End
Land	183
Buildings and Improvements	6,791
Total	6,974
Accumulated Depreciation	(6,113)
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	6,216
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,542
Total	13,542
Accumulated Depreciation	(8,627)
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	10,652
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	55,232
Total	55,232
Accumulated Depreciation	(19,610)
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	1,023
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,556
Total	5,556
Accumulated Depreciation	(1,027)
126 Sherwood AR | Other non-reportable segments | 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	(6,099)
113 Glendale AZ | Other non-reportable segments | 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	7,225
Total	8,790
Accumulated Depreciation	(4,621)
423 Irvine CA | Other non-reportable segments | 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	(40,800)
127 Colorado Springs CO | Other non-reportable segments | 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	8,415
Total	9,105
Accumulated Depreciation	(5,322)
887 Atlanta GA | Other non-reportable segments | 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	(7,629)
112 Overland Park KS | Other non-reportable segments | 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	10,797
Total	13,113
Accumulated Depreciation	(7,173)
886 Dallas TX | Other non-reportable segments | 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	(2,391)
1384 Plano TX | Other non-reportable segments | 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	(17,051)
2198 Webster TX | Other non-reportable segments | 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	450
Gross Amount at Which Carried As of Year End
Land	2,220
Buildings and Improvements	9,732
Total	11,952
Accumulated Depreciation	$ (2,321)

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 Millions	12 Months Ended
	Dec. 31, 2019USD ($)
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	$ 897

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Real estate:
Balances at beginning of year	$ 13,052,397	$ 13,473,573	$ 13,974,760
Acquisition of real estate and development and improvements	2,434,566	1,093,903	995,443
Sales and/or transfers to assets held for sale	(933,575)	(1,052,145)	(589,391)
Deconsolidation of real estate	(769,355)	(325,580)	(825,074)
Impairments	(219,613)	(49,729)	(37,274)
Other	240,557	(87,625)	(44,891)
Balances at end of year	13,804,977	13,052,397	13,473,573
Accumulated depreciation:
Balances at beginning of year	2,842,947	2,741,695	2,648,930
Depreciation expense	488,111	461,664	436,085
Sales and/or transfers to assets held for sale	(308,955)	(239,231)	(115,195)
Deconsolidation of real estate	(152,036)	(43,525)	(152,572)
Other	(98,145)	(77,656)	(75,553)
Balances at end of year	$ 2,771,922	$ 2,842,947	$ 2,741,695

Schedule IV_ Mortgage Loans o_2

Schedule IV: Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Monthly Debt Service	895
Face Amount of Mortgages	161,964
Carrying Amount	161,964	$ 42,037	$ 188,418	$ 196,359
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Other non-reportable segments | Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	7.50%
Other non-reportable segments | FLORIDA
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	7.50%
Other non-reportable segments | ILLINOIS
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.80%
Other non-reportable segments | WASHINGTON
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	6.50%
Mortgage loan on real estate, Texas due 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	7.50%
Face Amount of Mortgages	$ 2,250
Carrying Amount	2,250
Mortgage loan on real estate, Texas due 2021 | Other non-reportable segments | Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Monthly Debt Service	15
Face Amount of Mortgages	2,250
Carrying Amount	2,250
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	7.50%
Face Amount of Mortgages	$ 8,290
Carrying Amount	8,290
Mortgage loan on real estate, Florida due 2021 | Other non-reportable segments | FLORIDA
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Monthly Debt Service	54
Face Amount of Mortgages	8,290
Carrying Amount	8,290
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Illinois due 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.75%
Face Amount of Mortgages	$ 4,200
Carrying Amount	4,200
Mortgage loan on real estate, Illinois due 2022 | Other non-reportable segments | ILLINOIS
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Monthly Debt Service	21
Face Amount of Mortgages	4,200
Carrying Amount	4,200
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Washington due 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	6.50%
Face Amount of Mortgages	$ 102,412
Carrying Amount	102,412
Mortgage loan on real estate, Washington due 2022 | Other non-reportable segments | WASHINGTON
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Monthly Debt Service	564
Face Amount of Mortgages	102,412
Carrying Amount	102,412
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2026
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	2.00%
Face Amount of Mortgages	$ 44,812
Carrying Amount	44,812
Mortgage loan on real estate, Florida due 2026 | Other non-reportable segments | FLORIDA
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Monthly Debt Service	241
Face Amount of Mortgages	44,812
Carrying Amount	44,812
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2026 | LIBOR
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.25%
Mortgage loan on real estate, Florida due 2026 | LIBOR | Other non-reportable segments | FLORIDA
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.25%
Mortgage loan on real estate, Florida due 2026 | Minimum | LIBOR | Other non-reportable segments | FLORIDA
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	2.00%

Schedule IV_ Mortgage Loans o_3

Schedule IV: Mortgage Loans on Real Estate - Reconciliation of Mortgage Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 42,037	$ 188,418	$ 196,359
New mortgage loans	59,552	0	0
Construction draws	60,375	42,398	13,776
Total additions	119,927	42,398	13,776
Principal repayments	0	(188,779)	(36,708)
Total deductions	0	(188,779)	(36,708)
Change in balance due to foreign currency translation	0	0	14,991
Balance at end of year	$ 161,964	$ 42,037	$ 188,418