Healthpeak Properties (DOC) 10-K 9 Feb 22 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 07, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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	5050 South Syracuse Street
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80237
City Area Code	720
Local Phone Number	428-5050
Title of 12(b) Security	Common Stock, $1.00 par value
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 12.8
Entity Common Stock, Shares Outstanding		539,304,127
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive Proxy Statement for the registrant’s 2022 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2021, have been incorporated by reference into Part III of this Report.
Entity Central Index Key	0000765880
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	Costa Mesa, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Real estate:
Buildings and improvements	$ 12,025,271	$ 11,048,433
Development costs and construction in progress	877,423	613,182
Land	2,603,964	1,867,278
Accumulated depreciation and amortization	(2,839,229)	(2,409,135)
Net real estate	12,667,429	11,119,758
Net investment in direct financing leases	44,706	44,706
Loans receivable, net of reserves of $1,813 and $10,280	415,811	195,375
Investments in and advances to unconsolidated joint ventures	403,634	402,871
Accounts receivable, net of allowance of $1,870 and $3,994	48,691	42,269
Cash and cash equivalents	158,287	44,226
Restricted cash	53,454	67,206
Intangible assets, net	519,760	519,917
Assets held for sale and discontinued operations, net	37,190	2,626,306
Right-of-use asset, net	233,942	192,349
Other assets, net	674,615	665,106
Total assets	15,257,519	15,920,089
LIABILITIES AND EQUITY
Bank line of credit and commercial paper	1,165,975	129,590
Term loan	0	249,182
Senior unsecured notes	4,651,933	5,697,586
Mortgage debt	352,081	221,621
Intangible liabilities, net	177,232	144,199
Liabilities related to assets held for sale and discontinued operations, net	15,056	415,737
Lease liability	204,547	179,895
Accounts payable, accrued liabilities, and other liabilities	755,384	760,617
Deferred revenue	789,207	774,316
Total liabilities	8,111,415	8,572,743
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests	87,344	57,396
Common stock, $1.00 par value: 750,000,000 shares authorized; 539,096,879 and 538,405,393 shares issued and outstanding	539,097	538,405
Additional paid-in capital	10,100,294	10,175,235
Cumulative dividends in excess of earnings	(4,120,774)	(3,976,232)
Accumulated other comprehensive income (loss)	(3,147)	(3,685)
Total stockholders’ equity	6,515,470	6,733,723
Joint venture partners	342,234	357,069
Non-managing member unitholders	201,056	199,158
Total noncontrolling interests	543,290	556,227
Total equity	7,058,760	7,289,950
Total liabilities and equity	$ 15,257,519	$ 15,920,089

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Reserve for loans receivable	$ 1,813	$ 10,280
Accounts receivable, allowance for credit loss	$ 1,870	$ 3,994
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	539,096,879	538,405,393
Common stock, shares outstanding (in shares)	539,096,879	538,405,393

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Rental and related revenues	$ 1,378,384	$ 1,182,108	$ 1,069,502
Resident fees and services	471,325	436,494	144,327
Income from direct financing leases	8,702	9,720	16,666
Interest income	37,773	16,553	9,844
Total revenues	1,896,184	1,644,875	1,240,339
Costs and expenses:
Interest expense	157,980	218,336	217,612
Depreciation and amortization	684,286	553,949	435,191
Operating	773,279	782,541	405,244
General and administrative	98,303	93,237	92,966
Transaction costs	1,841	18,342	1,963
Impairments and loan loss reserves (recoveries), net	23,160	42,909	17,708
Total costs and expenses	1,738,849	1,709,314	1,170,684
Other income (expense):
Gain (loss) on sales of real estate, net	190,590	90,350	(40)
Gain (loss) on debt extinguishments	(225,824)	(42,912)	(58,364)
Other income (expense), net	6,266	234,684	165,069
Total other income (expense), net	(28,968)	282,122	106,665
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	128,367	217,683	176,320
Income tax benefit (expense)	3,261	9,423	5,479
Equity income (loss) from unconsolidated joint ventures	6,100	(66,599)	(6,330)
Income (loss) from continuing operations	137,728	160,507	175,469
Income (loss) from discontinued operations	388,202	267,746	(115,408)
Net income (loss)	525,930	428,253	60,061
Noncontrolling interests’ share in continuing operations	(17,851)	(14,394)	(14,558)
Noncontrolling interests’ share in discontinued operations	(2,539)	(296)	27
Net income (loss) applicable to Healthpeak Properties, Inc.	505,540	413,563	45,530
Participating securities’ share in earnings	(3,269)	(2,416)	(1,543)
Net income (loss) applicable to common shares	$ 502,271	$ 411,147	$ 43,987
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.22	$ 0.27	$ 0.33
Discontinued operations (in dollars per share)	0.71	0.50	(0.24)
Net income (loss) applicable to common shares (in dollars per share)	0.93	0.77	0.09
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.22	0.27	0.33
Discontinued operations (in dollars per share)	0.71	0.50	(0.24)
Net income (loss) applicable to common shares (in dollars per share)	$ 0.93	$ 0.77	$ 0.09
Weighted average shares outstanding:
Basic (in shares)	538,930	530,555	486,255
Diluted (in shares)	539,241	531,056	489,335

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 525,930	$ 428,253	$ 60,061
Other comprehensive income (loss):
Net unrealized gains (losses) on derivatives	332	(583)	758
Reclassification adjustment realized in net income (loss)	(251)	13	1,023
Change in Supplemental Executive Retirement Plan obligation and other	457	(258)	(590)
Foreign currency translation adjustment	0	0	660
Total other comprehensive income (loss)	538	(828)	1,851
Total comprehensive income (loss)	526,468	427,425	61,912
Total comprehensive income (loss) attributable to Healthpeak Properties, Inc.	506,078	412,735	47,381
Continuing Operations
Total comprehensive (income) loss attributable to noncontrolling interests'	(17,851)	(14,394)	(14,558)
Discontinued Operations
Total comprehensive (income) loss attributable to noncontrolling interests'	$ (2,539)	$ (296)	$ 27

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) shares in Thousands, $ in Thousands	Total	Total Stockholders’ Equity	Common Stock	Additional Paid-In Capital	Cumulative Dividends In Excess Of Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Cumulative Effect, Period of Adoption, Adjustment		Cumulative Effect, Period of Adoption, AdjustmentTotal Stockholders’ Equity		Cumulative Effect, Period of Adoption, AdjustmentCumulative Dividends In Excess Of Earnings		Cumulative Effect, Period of Adoption, Adjusted Balance	Cumulative Effect, Period of Adoption, Adjusted BalanceTotal Stockholders’ Equity	Cumulative Effect, Period of Adoption, Adjusted BalanceCommon Stock	Cumulative Effect, Period of Adoption, Adjusted BalanceAdditional Paid-In Capital	Cumulative Effect, Period of Adoption, Adjusted BalanceCumulative Dividends In Excess Of Earnings	Cumulative Effect, Period of Adoption, Adjusted BalanceAccumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjusted BalanceNoncontrolling Interests
Balance (in shares) at Dec. 31, 2018			477,496													477,496
Balance at Dec. 31, 2018	$ 6,512,591	$ 5,944,439	$ 477,496	$ 8,398,847	$ (2,927,196)	$ (4,708)	$ 568,152	$ 590	[1]	$ 590	[1]	$ 590	[1]	$ 6,513,181	$ 5,945,029	$ 477,496	$ 8,398,847	$ (2,926,606)	$ (4,708)	$ 568,152
Increase (Decrease) in Stockholders' Equity
Accounting standards update	Accounting Standards Update 2016-13 [Member]
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 (in shares)			27,523
Issuance of common stock, net	791,048	791,048	$ 27,523	763,525
Conversion of DownREIT units to common stock (in shares)			213
Conversion of DownREIT units to common stock	0	5,145	$ 213	4,932			(5,145)
Repurchase of common stock (in shares)			(162)
Repurchase of common stock	(5,043)	(5,043)	$ (162)	(4,881)
Exercise of stock options (in shares)			152
Exercise of stock options	4,538	4,538	$ 152	4,386
Amortization of stock-based 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)
Adjustments to redemption value of redeemable noncontrolling interests	(8,615)	(8,615)		(8,615)
Balance (in shares) at Dec. 31, 2019			505,222													505,222
Balance at Dec. 31, 2019	6,658,859	6,076,443	$ 505,222	9,175,277	(3,601,199)	(2,857)	582,416	$ (1,524)	[2]	$ (1,524)	[2]	$ (1,524)	[2]	$ 6,657,335	$ 6,074,919	$ 505,222	$ 9,175,277	$ (3,602,723)	$ (2,857)	$ 582,416
Beginning balance at Dec. 31, 2018	0
Increase (Decrease) in Redeemable Noncontrolling Interests
Distributions to noncontrolling interests	(22)
Contributions from noncontrolling interests	2,513
Adjustments to redemption value of redeemable noncontrolling interests	8,615
Ending balance at Dec. 31, 2019	11,106
Increase (Decrease) in Stockholders' Equity
Net income (loss)	428,253	413,563			413,563		14,690
Other comprehensive income (loss)	(828)	(828)				(828)
Issuance of common stock, net (in shares)			33,307
Issuance of common stock, net	1,067,071	1,067,071	$ 33,307	1,033,764
Conversion of DownREIT units to common stock (in shares)			120
Conversion of DownREIT units to common stock	0	4,077	$ 120	3,957			(4,077)
Repurchase of common stock (in shares)			(298)
Repurchase of common stock	(10,529)	(10,529)	$ (298)	(10,231)
Exercise of stock options (in shares)			54
Exercise of stock options	1,806	1,806	$ 54	1,752
Amortization of stock-based compensation	20,534	20,534		20,534
Common dividends	(787,072)	(787,072)			(787,072)
Distributions to noncontrolling interests	(36,994)						(36,994)
Purchase of noncontrolling interests	(3,619)	(3,811)		(3,811)			192
Adjustments to redemption value of redeemable noncontrolling interests	(46,007)	(46,007)		(46,007)
Balance (in shares) at Dec. 31, 2020			538,405
Balance at Dec. 31, 2020	7,289,950	6,733,723	$ 538,405	10,175,235	(3,976,232)	(3,685)	556,227
Increase (Decrease) in Redeemable Noncontrolling Interests
Distributions to noncontrolling interests	(160)
Contributions from noncontrolling interests	443
Adjustments to redemption value of redeemable noncontrolling interests	46,007
Ending balance at Dec. 31, 2020	57,396
Increase (Decrease) in Stockholders' Equity
Net income (loss)	525,886	505,540			505,540		$ 20,346
Other comprehensive income (loss)	538	538				538
Issuance of common stock, net (in shares)			1,005
Issuance of common stock, net	1,745	1,745	$ 1,005	740
Conversion of DownREIT units to common stock (in shares)			8				7,000
Conversion of DownREIT units to common stock	0	201	$ 8	193			$ (201)
Repurchase of common stock (in shares)			(418)
Repurchase of common stock	(12,841)	(12,841)	$ (418)	(12,423)
Exercise of stock options (in shares)			97
Exercise of stock options	3,291	3,291	$ 97	3,194
Amortization of stock-based compensation	22,851	22,851		22,851
Common dividends	(650,082)	(650,082)			(650,082)
Distributions to noncontrolling interests	(33,017)						(33,017)
Purchase of noncontrolling interests	(70)	(5)		(5)			(65)
Adjustments to redemption value of redeemable noncontrolling interests	(89,491)	(89,491)		(89,491)
Balance (in shares) at Dec. 31, 2021			539,097
Balance at Dec. 31, 2021	7,058,760	$ 6,515,470	$ 539,097	$ 10,100,294	$ (4,120,774)	$ (3,147)	$ 543,290
Increase (Decrease) in Redeemable Noncontrolling Interests
Net income (loss)	44
Distributions to noncontrolling interests	(162)
Purchase of noncontrolling interests	(60,065)
Contributions from noncontrolling interests	640
Adjustments to redemption value of redeemable noncontrolling interests	89,491
Ending balance at Dec. 31, 2021	$ 87,344
[1]	On January 1, 2019, the Company adopted a series of Accounting Standards Updates (“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, 2020, the Company adopted a series of ASUs related to accounting for credit losses 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 AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common dividends, per share (in dollars per share)	$ 1.20	$ 1.48	$ 1.48

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 525,930	$ 428,253	$ 60,061
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of real estate, in-place lease, and other intangibles	684,286	697,143	659,989
Amortization of stock-based compensation	18,202	17,368	18,162
Amortization of deferred financing costs	9,216	10,157	10,863
Straight-line rents	(31,188)	(24,532)	(22,479)
Amortization of nonrefundable entrance fees and above/below market lease intangibles	(94,362)	(81,914)	0
Equity loss (income) from unconsolidated joint ventures	(11,235)	67,787	8,625
Distributions of earnings from unconsolidated joint ventures	4,976	12,294	20,114
Loss (gain) on sale of real estate under direct financing leases	0	(41,670)	0
Deferred income tax expense (benefit)	(5,792)	(14,573)	(18,253)
Impairments and loan loss reserves (recoveries), net	55,896	244,253	225,937
Loss (gain) on debt extinguishments	225,824	42,912	58,364
Loss (gain) on sales of real estate, net	(605,311)	(550,494)	(22,900)
Loss (gain) upon change of control, net	(1,042)	(159,973)	(168,023)
Casualty-related loss (recoveries), net	1,632	469	(3,706)
Other non-cash items	(8,178)	2,175	(2,569)
Changes in:
Decrease (increase) in accounts receivable and other assets, net	18,626	15,281	(49,771)
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue	7,768	93,495	71,659
Net cash provided by (used in) operating activities	795,248	758,431	846,073
Cash flows from investing activities:
Acquisitions of real estate	(1,483,026)	(1,170,651)	(1,604,285)
Development, redevelopment, and other major improvements of real estate	(610,555)	(791,566)	(626,904)
Leasing costs, tenant improvements, and recurring capital expenditures	(111,480)	(94,121)	(108,844)
Proceeds from sales of real estate, net	2,399,120	1,304,375	230,455
Acquisition of CCRC Portfolio	0	(394,177)	0
Contributions to unconsolidated joint ventures	(25,260)	(39,118)	(14,956)
Distributions in excess of earnings from unconsolidated joint ventures	37,640	18,555	27,072
Proceeds from insurance recovery	0	1,802	9,359
Proceeds from the U.K. JV transaction, net	0	0	89,868
Proceeds from the Sovereign Wealth Fund Senior Housing JV transaction, net	0	0	354,774
Proceeds from sales/principal repayments on loans receivable and direct financing leases	342,420	202,763	274,150
Investments in loans receivable and other	(17,827)	(45,562)	(79,467)
Net cash provided by (used in) investing activities	531,032	(1,007,700)	(1,448,778)
Cash flows from financing activities:
Borrowings under bank line of credit and commercial paper	16,821,450	4,742,600	7,607,788
Repayments under bank line of credit and commercial paper	(15,785,065)	(4,706,010)	(7,597,047)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper	1,088,537	594,750	2,047,069
Repayments and repurchase of debt, excluding bank line of credit and commercial paper	(2,425,936)	(568,343)	(1,654,142)
Borrowings under term loan	0	0	250,000
Payments for debt extinguishment and deferred financing costs	(236,942)	(47,210)	(80,616)
Issuance of common stock and exercise of options	5,036	1,068,877	795,586
Repurchase of common stock	(12,841)	(10,529)	(5,043)
Dividends paid on common stock	(650,082)	(787,072)	(720,123)
Contributions from and issuance of noncontrolling interests	640	0	33,318
Distributions to and purchase of noncontrolling interests	(93,314)	(40,613)	(29,519)
Net cash provided by (used in) financing activities	(1,288,517)	246,450	647,271
Effect of foreign exchanges on cash, cash equivalents and restricted cash	0	(153)	245
Net increase (decrease) in cash, cash equivalents and restricted cash	37,763	(2,972)	44,811
Cash, cash equivalents and restricted cash, beginning of year	181,685	184,657	139,846
Cash, cash equivalents and restricted cash, end of year	$ 219,448	$ 181,685	$ 184,657

Business

Business	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business Overview Healthpeak Properties, Inc., a Standard & Poor’s 500 company, is a Maryland corporation that is organized to qualify as a real estate investment trust (“REIT”) that, 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® 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) life science; (ii) medical office; and (iii) continuing care retirement community (“CCRC”). The Company’s corporate headquarters are located in Denver, Colorado, and it has additional offices in Irvine, California and Franklin, Tennessee. Senior Housing Triple-Net and Senior Housing Operating Portfolio Dispositions During 2020, the Company established and began executing a plan to dispose of its senior housing triple-net and Senior Housing Operating Property (“SHOP”) properties. As of December 31, 2020, the Company concluded that the planned dispositions represented a strategic shift that had and will have a major effect on the Company’s operations and financial results. Therefore, senior housing triple-net and SHOP assets meeting the held for sale criteria are classified as discontinued operations in all periods presented herein. In September 2021, the Company successfully completed the disposition of the remaining senior housing triple-net and SHOP properties. See Note 5 for further information. Covid Update The coronavirus (“Covid”) pandemic has caused significant disruption to individuals, governments, financial markets, and businesses, including the Company. The Company’s tenants, operators, and borrowers have experienced significant cost increases as a result of increased health and safety measures, staffing shortages, increased governmental regulation and compliance, vaccine mandates, and other operational changes necessitated either directly or indirectly by the Covid pandemic. The Company evaluated the impacts of Covid on its business thus far and incorporated information concerning the impact of Covid into its assessments of liquidity, impairments, and collectibility from tenants, residents, and borrowers as of December 31, 2021. The Company will continue to monitor such impacts and will adjust its estimates and assumptions based on the best available information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
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. Basis of Presentation The consolidated financial statements include the accounts of Healthpeak Properties, Inc., its wholly-owned subsidiaries, joint ventures (“JVs”), and variable interest entities (“VIEs”) that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation. The Company is required to continually evaluate its VIE relationships and consolidate these entities when it is determined to be the primary beneficiary of their operations. A VIE is broadly defined as an entity where either: (i) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support, (ii) substantially all of an entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights, or (iii) the equity investors as a group lack any of the following: (a) the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of an entity, or (c) the right to receive the expected residual returns of an entity. 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, which activities most significantly impact the entity’s economic performance and the ability to direct those activities, 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. Revision to Additional Paid-In Capital and Redeemable Noncontrolling Interests During the third quarter of 2021, the Company identified and corrected immaterial errors in the classification and redemption value of redeemable noncontrolling interests of consolidated joint ventures in its Life Sciences segment. On the Consolidated Balance Sheet as of December 31, 2020, the Company corrected the classification of its redeemable noncontrolling interests and increased the balance to its estimated redemption value, with a corresponding decrease to additional paid-in capital (“APIC”) in accordance with Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity . The increase in the unrealized value of the redeemable noncontrolling interests was largely attributable to rapidly rising rents and compressing capitalization rates in the market in which the entities operate, and was identified and corrected by management. The Company determined the impact of the adjustments to be immaterial, individually and in the aggregate, based on consideration of quantitative and qualitative factors. As such, these adjustments are reflected in this Annual Report on Form 10-K. These adjustments had no impact on the Consolidated Statements of Cash Flows, Consolidated Statements of Operations, or any per share amounts. The following table provides the impact of the adjustment to the Company’s previously reported Consolidated Balance Sheet as of December 31, 2020 (in thousands): December 31, 2020 Previously Reported Adjustments As Corrected Consolidated Balance Sheet Accounts payable, accrued liabilities, and other liabilities $ 763,391 $ (2,774) $ 760,617 Total liabilities 8,575,517 (2,774) 8,572,743 Redeemable noncontrolling interests — 57,396 57,396 Additional paid-in capital 10,229,857 (54,622) 10,175,235 Total stockholders’ equity 6,788,345 (54,622) 6,733,723 Total equity 7,344,572 (54,622) 7,289,950 Total liabilities and equity 15,920,089 — 15,920,089 In addition to the changes made to reflect the impact of the correction described above, the Company made changes (all amounts in thousands) to the Consolidated Statement of Equity and Redeemable Noncontrolling Interests to decrease APIC, total stockholders’ equity, and total equity as of December 31, 2019 by $8,615 with a corresponding increase to redeemable noncontrolling interests of $11,106 and a decrease to accounts payable, accrued liabilities, and other liabilities as of December 31, 2019 of $2,491 on the Consolidated Balance Sheet. Revenue Recognition Lease Classification The Company classifies a lease 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 repair 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. If it is no longer probable that substantially all future minimum lease payments under operating leases will be received, the accounts receivable and straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period. The Company’s operating leases generally contain options to extend lease terms at prevailing market rates at the time of expiration. Certain operating leases contain early termination options that require advance notice and payment of a penalty, which in most cases is substantial enough to be deemed economically disadvantageous by a tenant to exercise. 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 and CCRC 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 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 recorded in deferred revenue in the Consolidated Balance Sheets and amortized into revenue over the estimated stay of the resident. The Company utilizes third-party actuarial experts in its determination of the estimated stay of residents. At December 31, 2021 and 2020, unamortized nonrefundable entrance fee liabilities were $496 million and $484 million, respectively. 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. Government Grant Income On March 27, 2020, the federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to provide financial aid to individuals, businesses, and state and local governments. During the years ended December 31, 2021 and 2020, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenue during the Covid pandemic. Grant income is recognized when there is reasonable assurance that the grant will be received and the Company will comply with all conditions attached to the grant. Additionally, grants are recognized over the periods in which the Company recognizes the increased expenses and lost revenue the grants are intended to defray. As of December 31, 2021, the amount of qualifying expenditures and lost revenue exceeded grant income recognized and the Company believes it has complied and will continue to comply with all grant conditions. In the event of non-compliance, all such amounts received are subject to recapture. The following table summarizes information related to government grant income received and recognized by the Company (in thousands): Year Ended December 31, 2021 2020 2019 Government grant income recorded in other income (expense), net $ 1,412 $ 16,198 $ — Government grant income recorded in equity income (loss) from unconsolidated joint ventures 1,749 1,279 — Government grant income recorded in income (loss) from discontinued operations 3,669 15,436 — Total government grants received $ 6,830 $ 32,913 $ — From January 1, 2022 through February 7, 2022, the Company received $7 million in government grants under the CARES Act, including $0.6 million for its share of funds received by certain unconsolidated joint ventures, which will be recognized during the first quarter of 2022. Credit Losses The Company evaluates the liquidity and creditworthiness of its occupants, operators, and borrowers on a monthly and quarterly basis. The Company’s evaluation considers payment history and current credit status, industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity, and other factors. The Company’s occupants, 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 occupants’, operators’, and borrowers’ ability to service their obligations with the Company. 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 finance 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. The Company also performs a quarterly review process (or upon the occurrence of a significant event) to evaluate its borrowers’ creditworthiness and liquidity to determine the amount of credit losses to recognize during the period. If a finance receivable is deemed partially or wholly uncollectible, the uncollectible balance is deducted from the allowance in the period in which such determination is made. Credit loss expenses and recoveries are recorded in impairments and loan loss reserves (recoveries), net. 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. During the holding or development period, certain real estate assets generate incidental income that is not associated with the future profit or return from the intended use of the property. Such income is recognized as a reduction of the associated project costs. 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 Statements of Cash Flows. Initial direct costs incurred in connection with successful property leasing are capitalized as deferred leasing costs and classified as investing activities in the Consolidated Statements of Cash Flows. Initial direct costs include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. Initial direct costs consist of leasing commissions paid to external third party brokers and lease incentives. Initial direct costs are included in other assets, net in the Consolidated Balance Sheets and amortized in depreciation and amortization in the Consolidated Statements of Operations using the straight-line method of accounting over the lease term. 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 50 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. Certain of the Company’s lease agreements have options to extend or terminate the contract terms upon meeting certain criteria. The lease term utilized in the calculation of the lease liability includes these options if they are considered reasonably certain of exercise. 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. 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. 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 the expected use and eventual disposition of the asset, 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 a real estate property 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. The Company classifies a loan receivable as held for sale when management no longer has the intent and ability to hold the loan receivable for the foreseeable future or until maturity. If a loan receivable is classified as held for sale, it is reported at the lower of amortized cost or fair value. A discontinued operation represents: (i) a component of the Company 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,

Master Transactions and Coopera

Master Transactions and Cooperation Agreement with Brookdale	12 Months Ended
	Dec. 31, 2021
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 previously jointly owned 15-campus CCRC portfolio (the “CCRC JV”) and the portfolio of senior housing properties Brookdale triple-net leased from the Company, which, at the time, included 43 properties. In connection with the 2019 MTCA, the Company and Brookdale, and certain of their respective subsidiaries, closed the following transactions related to the CCRC JV on January 31, 2020: • The Company, which owned a 49% interest in the CCRC JV, purchased 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 were terminated and management transitioned (under new management agreements) from Brookdale to Life Care Services LLC (“LCS”); and • The Company paid a $100 million management termination fee to Brookdale. In addition, pursuant to the 2019 MTCA, the Company and Brookdale closed the following transactions related to properties Brookdale triple-net leased from the Company on January 31, 2020: • Brookdale acquired 18 of the properties from the Company (the “Brookdale Acquisition Assets”) for cash proceeds of $385 million; • The remaining 24 properties (excludes one property transitioned and sold to a third party, as discussed below) were 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 was reallocated to the remaining properties under the 2019 Amended Master Lease; and • Brookdale paid down $20 million of future rent under the 2019 Amended Master Lease. As agreed to by the Company and Brookdale under the 2019 MTCA, in December 2020, the Company terminated the triple-net lease related to one property and converted it to a structure permitted by the Housing and Economic Recovery Act of 2008, which includes most of the provisions previously proposed in the REIT Investment Diversification and Empowerment Act of 2007 (commonly referred to as “RIDEA”). In August 2021, the Company sold this property. The Company and Brookdale also agreed that the Company would provide up to $35 million of capital investment in the 2019 Amended Master Lease properties over a five-year term, which would increase rent by 7% of the amount spent, per annum. As of December 31, 2020, the Company had funded $5 million of this capital investment. Upon the Company’s sale of the 24 properties under the 2019 Amended Master Lease in January 2021 (see Note 5), the remaining capital investment obligation was transferred to the buyer. As a result of the above transactions, on January 31, 2020, the Company began consolidating the 13 CCRCs in which it acquired Brookdale’s interest. Accordingly, the Company derecognized its investment in the CCRC JV of $323 million and recognized a gain upon change of control of $170 million, which is included in other income (expense), net. In connection with consolidating the 13 CCRCs during the first quarter of 2020, the Company recognized real estate and intangible assets of $1.8 billion, refundable entrance fee liabilities of $308 million, contractual liabilities associated with previously collected non-refundable entrance fees of $436 million, debt assumed of $215 million, other net assets of $48 million, and cash paid of $396 million. Upon sale of the Brookdale Acquisition Assets in January 2020, the Company recognized an aggregate gain on sales of real estate of $164 million, which is recorded within income (loss) from discontinued operations. In May 2021, the CCRC JV sold the two remaining CCRCs subject to the 2019 MTCA for $38 million, $19 million of which represents the Company’s 49% interest in the CCRC JV, resulting in an immaterial gain on sale recorded within equity income (loss) from unconsolidated joint ventures (see Note 9). Fair Value Measurement Techniques and Quantitative Information

Real Estate Transactions

Real Estate Transactions	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Real Estate Transactions	Real Estate Transactions 2021 Real Estate Investment Acquisitions Westview Medical Plaza In February 2021, the Company acquired one medical office building (“MOB”) in Nashville, Tennessee for $13 million. Pinnacle at Ridgegate In April 2021, the Company acquired one MOB in Denver, Colorado for $38 million. MOB Portfolio In April 2021, the Company acquired 14 MOBs for $371 million (the “MOB Portfolio”). In conjunction with the acquisition, the Company originated $142 million of secured mortgage debt. Westside Medical Plaza In June 2021, the Company acquired one MOB in Fort Lauderdale, Florida for $16 million. Wesley Woodlawn In July 2021, the Company acquired one MOB in Wichita, Kansas for $50 million. Atlantic Health In July 2021, the Company acquired three MOBs in Morristown, New Jersey for $155 million. Baylor Centennial In September 2021, the Company acquired two MOBs in Dallas, Texas for $60 million. Concord Avenue Campus In September 2021, the Company acquired a life science campus, comprised of three buildings, in Cambridge, Massachusetts for $180 million. 10 Fawcett In October 2021, the Company closed a life science acquisition in Cambridge, Massachusetts for $73 million. Vista Sorrento Phase 1 In October 2021, the Company closed a life science acquisition in San Diego, California for $20 million. Swedish Medical In October 2021, the Company acquired one MOB in Seattle, Washington for $43 million. Lakeview Medical Pavilion In October 2021, the Company acquired one MOB in New Orleans, Louisiana for $34 million. Mooney Street Parcels In October 2021, the Company closed a life science acquisition in Cambridge, Massachusetts for $123 million. 725 Concord In October 2021, the Company acquired one MOB and an adjacent land parcel in Cambridge, Massachusetts for $80 million. 25 Spinelli In October 2021, the Company closed a life science acquisition in Cambridge, Massachusetts for $34 million. 68 Moulton In October 2021, the Company closed a life science acquisition in Cambridge, Massachusetts for $18 million. 125 Fawcett and 110 Fawcett In December 2021, the Company closed two life science acquisitions in Cambridge, Massachusetts for $45 million. South San Francisco Land Site In 2021, the Company acquired approximately 12 acres of land for $128 million. The acquisition site is located in South San Francisco, California, adjacent to two sites currently held by the Company as land for future development. 67 Smith Place In January 2022, the Company closed a life science acquisition in Cambridge, Massachusetts for $72 million. Vista Sorrento Phase II In January 2022, the Company closed a life science acquisition in San Diego, California for $24 million. 2020 Real Estate Investments The Post Acquisition In April 2020, the Company acquired a life science campus in Waltham, Massachusetts for $320 million. Scottsdale Gateway Acquisition In July 2020, the Company acquired one MOB in Scottsdale, Arizona for $27 million. Midwest MOB Portfolio Acquisition In October 2020, the Company acquired a portfolio of seven MOBs located in Indiana, Missouri, and Illinois for $169 million. Cambridge Discovery Park Acquisition In December 2020, the Company acquired three life science facilities in Cambridge, Massachusetts for $610 million and a 49% unconsolidated joint venture interest in a fourth property on the same campus for $54 million. If the fourth property is sold in a taxable transaction, the Company is generally obligated to indemnify its joint venture partner for its federal and state income taxes associated with the gain that existed at the time of the contribution to the joint venture. Waldwick JV Interest Purchase In October 2020, the Company acquired the remaining 15% equity interest of a senior housing joint venture structure (which owned one senior housing facility), in which the Company previously held an unconsolidated equity investment, for $4 million. Subsequent to the acquisition, the Company owned 100% of the equity, began consolidating the facility, and recognized a gain upon change of control of $6 million, which is recorded in other income (expense), net within income (loss) from discontinued operations. In December 2020, the Company sold the property as part of the Atria SHOP Portfolio disposition (see Note 5). MBK JV Dissolution In November 2020, as part of the dissolution of a senior housing joint venture, the Company was distributed one property, one land parcel, and $11 million in cash. Upon consolidating the property and land parcel at the time of distribution, the Company recognized a loss upon change of control of $16 million, which is recorded in other income (expense), net within income (loss) from discontinued operations. In conjunction with the distribution of the property, the Company assumed $36 million of secured mortgage debt (classified as liabilities related to assets held for sale and discontinued operations, net) maturing in 2025, which was recorded at its fair value through asset acquisition accounting. During the year ended December 31, 2021, the Company sold the property and the related secured mortgage debt was assumed by the buyer (see Note 5). Other Real Estate Acquisitions In December 2020, the Company acquired one hospital in Dallas, Texas for $34 million. Development Activities During the year ended December 31, 2021, management reviewed the estimated useful lives of certain life science properties in connection with future plans of densification on campuses where the Company has densification opportunities. These changes in the planned use of the properties resulted in the Company updating the estimated useful lives of the properties, which differ from the Company’s previous estimates. The estimated useful lives of these properties was reduced from a weighted average remaining useful life of 15 years to 11 years to reflect the timing of the planned densification projects. For the year ended December 31, 2021, these changes in estimate increased depreciation expense by $30 million, resulting in a corresponding decrease to income (loss) from continuing operations and net income (loss), as well as a decrease to both basic and diluted earnings per share of approximately $0.06. Construction, Tenant, and Other Capital Improvements The following table summarizes the Company’s expenditures for construction, tenant improvements, and other capital improvements, excluding expenditures related to properties classified as discontinued operations (in thousands): Year Ended December 31, Segment 2021 2020 2019 Life science $ 472,301 $ 573,999 $ 499,956 Medical office 230,227 173,672 146,466 CCRC 57,192 41,224 — Other — — 30,852 $ 759,720 $ 788,895 $ 677,274

Dispositions of Real Estate and

Dispositions of Real Estate and Discontinued Operations	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Dispositions of Real Estate and Discontinued Operations	Dispositions of Real Estate and Discontinued Operations 2021 Dispositions of Real Estate Sunrise Senior Housing Portfolio In January 2021, the Company sold a portfolio of 32 SHOP assets (the “Sunrise Senior Housing Portfolio”) for $664 million, resulting in an immaterial loss on sale, which is recognized in income (loss) from discontinued operations, and provided the buyer with: (i) financing of $410 million (see Note 8) and (ii) a commitment to finance up to $92 million of additional debt for capital expenditures. The commitment to finance additional debt for capital expenditures was subsequently reduced to $56 million during June 2021, $0.4 million of which had been funded as of December 31, 2021 (see Note 8). Upon completion of the license transfer process in June 2021, the Company sold the two remaining Sunrise senior housing triple-net assets for $80 million, resulting in a gain on sale of $22 million, which is recognized in income (loss) from discontinued operations. Brookdale Triple-Net Portfolio In January 2021, the Company sold 24 senior housing assets in a triple-net lease with Brookdale for $510 million, resulting in total gain on sale of $169 million, which is recognized in income (loss) from discontinued operations. Additional SHOP Portfolio In January 2021, the Company sold a portfolio of 16 SHOP assets for $230 million, resulting in total gain on sale of $59 million, which is recognized in income (loss) from discontinued operations. The Company provided the buyer with financing of $150 million (see Note 8). HRA Triple-Net Portfolio In February 2021, the Company sold eight senior housing assets in a triple-net lease with Harbor Retirement Associates for $132 million, resulting in total gain on sale of $33 million, which is recognized in income (loss) from discontinued operations. Oakmont SHOP Portfolio In April 2021, the Company sold a portfolio of 12 SHOP assets for $564 million. In conjunction with the sale, mortgage debt held on two properties with a carrying value of $64 million was repaid and the remaining mortgage debt held on four properties with a carrying value of $107 million was assumed by the buyer. The transaction resulted in total gain on sale of $80 million, which is recognized in income (loss) from discontinued operations. Discovery SHOP Portfolio In April 2021, the Company sold a portfolio of 10 SHOP assets for $334 million, resulting in total gain on sale of $9 million, which is recognized in income (loss) from discontinued operations. Also included in this transaction was the sale of two mezzanine loans and two preferred equity investments for $21 million, resulting in no gain or loss on sale of the investments (collectively, “the Discovery SHOP Portfolio”). Sonata SHOP Portfolio In April 2021, the Compa ny sold a portfolio of five SHOP assets for $64 million, resulting in total gain on sale of $3 million, which is recognized in income (loss) from discontinued operations. SLC SHOP Portfolio In May 2021, the Company sold seven SHOP assets for $113 million and repaid $70 million of mortgage debt that was held on six of the assets, resulting in total gain on sale of $1 million, which is recognized in income (loss) from discontinued operations. Hoag Hospital In May 2021, the Company sold one hospital for $226 million through the exercise of a purchase option by a tenant, resulting in gain on sale of $172 million. 2021 Other Dispositions In addition to the portfolio and individual sales discussed above, during the year ended December 31, 2021, the Company sold the following: (i) 15 SHOP assets for $169 million, (ii) 7 senior housing triple-net assets for $24 million, and (iii) 10 MOBs and a portion of 1 MOB land parcel for $68 million, resulting in total gain on sales of $58 million ($39 million of which is recognized in income (loss) from discontinued operations). In conjunction with one of the SHOP asset sales, mortgage debt held on the property with a carrying value of $36 million was assumed by the buyer. Other Subsequent Dispositions In January 2022, the Company sold one life science facility in Utah for $14 million. 2020 Dispositions of Real Estate Aegis NNN Portfolio In December 2020, the Company sold 10 senior housing triple-net assets (the “Aegis NNN Portfolio”) for $358 million and repaid $6 million of variable rate secured mortgage debt held on one asset, resulting in total gain on sale of $228 million, which is recognized in income (loss) from discontinued operations . Atria SHOP Portfolio In December 2020, the Company sold 12 SHOP assets (the “Atria SHOP Portfolio”) for $312 million, resulting in total gain on sale of $39 million, which is recognized in income (loss) from discontinued operations. The Company provided the buyer with financing of $61 million on four of the assets sold (see Note 8). 2020 Other Dispositions In addition to the portfolio sales discussed above, during the year ended December 31, 2020, the Company sold the following: (i) 23 SHOP assets for $190 million, (ii) 21 senior housing triple-net assets for $428 million ( inclusive of the 18 facilities sold to Brookdale under the 2019 MTCA - see Note 3 ) , (iii) 11 MOBs for $136 million (inclusive of the exercise of a purchase option by a tenant to acquire 3 MOBs in San Diego, California), (iv) 2 MOB land parcels for $3 million, and (v) 1 asset from other non-reportable segments for $1 million, resulting in total gain on sales of $283 million ($193 million of which is recognized in income (loss) from discontinued operations). 2019 Dispositions of Real Estate During the year ended December 31, 2019, the Company sold the following: (i) 18 SHOP assets for $181 million, (ii) 2 senior housing triple-net assets for $26 million, (iii) 11 MOBs for $28 million, (vi) 1 life science asset for $7 million, (v) 1 undeveloped life science land parcel for $35 million, and (vi) 1 facility from the other non-reportable segment for $15 million, resulting in total gain on sales of $30 million ($23 million of which is reported in income (loss) from discontinued operations). Held for Sale and Discontinued Operations During 2020, the Company established and began executing a plan to dispose of its senior housing triple-net and SHOP properties. As of December 31, 2020, the Company concluded that the planned dispositions represented a strategic shift that had and will have a major effect on the Company’s operations and financial results. Therefore, senior housing triple-net and SHOP assets meeting the held for sale criteria are classified as discontinued operations in all periods presented herein. In September 2021, the Company successfully completed the disposition of the remaining senior housing triple-net and SHOP properties. The following summarizes the assets and liabilities classified as discontinued operations at December 31, 2021 and 2020, which are included in assets held for sale and discontinued operations, net and liabilities related to assets held for sale and discontinued operations, net, respectively, on the Consolidated Balance Sheets (in thousands): December 31, 2021 2020 ASSETS Real estate: Buildings and improvements $ — $ 2,553,254 Development costs and construction in progress — 21,509 Land — 355,803 Accumulated depreciation and amortization — (615,708) Net real estate — 2,314,858 Investments in and advances to unconsolidated joint ventures — 5,842 Accounts receivable, net of allowance of $4,138 and $5,873 2,446 20,500 Cash and cash equivalents 7,707 53,085 Restricted cash — 17,168 Intangible assets, net — 24,541 Right-of-use asset, net 26 4,109 Other assets, net (1) 3,237 103,965 Total assets of discontinued operations, net (2) 13,416 2,544,068 Assets held for sale, net (3) 23,774 82,238 Assets held for sale and discontinued operations, net $ 37,190 $ 2,626,306 LIABILITIES Mortgage debt $ — $ 318,876 Lease liability 26 3,189 Accounts payable, accrued liabilities, and other liabilities 14,843 79,411 Deferred revenue 92 11,442 Total liabilities of discontinued operations, net (2) 14,961 412,918 Liabilities related to assets held for sale, net (3) 95 2,819 Liabilities related to assets held for sale and discontinued operations, net $ 15,056 $ 415,737 _______________________________________ (1) Includes goodwill of zero and $29 million as of December 31, 2021 and 2020, respectively. (2) At December 31, 2021, there were no remaining senior housing triple-net or SHOP facilities classified as held for sale and discontinued operations. At December 31, 2020, 41 senior housing triple-net facilities, 97 SHOP facilities, and 1 SHOP joint venture were classified as held for sale and discontinued operations. (3) As of December 31, 2021, primarily comprised of four MOBs and one life science facility with net real estate assets of $23 million and right-of-use asset, net of $1 million. As of December 31, 2020, primarily comprised of six MOBs with net real estate assets of $73 million and deferred revenue of $2 million. The results of discontinued operations through December 31, 2021, or the disposal date of each asset or portfolio of assets if they have been sold, are included in the consolidated results of operations for the years ended December 31, 2021, 2020, and 2019. Summarized financial information for discontinued operations for the years ended December 31, 2021, 2020, and 2019 are as follows (in thousands): Year Ended December 31, 2021 2020 2019 Revenues: Rental and related revenues $ 7,535 $ 97,877 $ 152,576 Resident fees and services 114,936 621,253 583,653 Income from direct financing leases — — 20,815 Total revenues 122,471 719,130 757,044 Costs and expenses: Interest expense 3,900 10,538 8,007 Depreciation and amortization — 143,194 224,798 Operating 122,571 550,226 474,126 Transaction costs 76 20,426 6,780 Impairments and loan loss reserves (recoveries), net 32,736 201,344 208,229 Total costs and expenses 159,283 925,728 921,940 Other income (expense): Gain (loss) on sales of real estate, net 414,721 460,144 22,940 Other income (expense), net 4,189 5,475 17,060 Total other income (expense), net 418,910 465,619 40,000 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 382,098 259,021 (124,896) Income tax benefit (expense) 969 9,913 11,783 Equity income (loss) from unconsolidated joint ventures 5,135 (1,188) (2,295) Income (loss) from discontinued operations $ 388,202 $ 267,746 $ (115,408)

Impairments of Real Estate

Impairments of Real Estate	12 Months Ended
	Dec. 31, 2021
Asset Impairment Charges [Abstract]
Impairments of Real Estate	Impairments of Real Estate 2021 During the year ended December 31, 2021, the Company recognized an aggregate impairment charge of $22 million, which is reported in impairments and loan loss reserves (recoveries), net, related to: (i) three MOBs that met the held for sale criteria during the year and (ii) one MOB held for use; the aggregate fair value of these four MOBs was $14 million as of the related impairment assessment dates. For the three MOBs that met the held for sale criteria during the year, the Company recognized an impairment charge of $5 million to write down the properties’ aggregate carrying value to their aggregate fair value, less estimated costs to sell. For the MOB held for use, the Company recognized a $17 million impairment charge in the fourth quarter of 2021 due to its intent to demolish the MOB for a future development project. Additionally, during the year ended December 31, 2021, the Company recognized an impairment charge of $4 million related to one SHOP asset, which is reported in income (loss) from discontinued operations. Following a reduction in the expected sales price of the SHOP asset occurring in the second quarter of 2021, the Company wrote down its carrying value of $20 million to its fair value, less estimated costs to sell, of $16 million. The fair values of the impaired assets were based on forecasted sales prices and market comparable data, which are considered to be Level 3 measurements within the fair value hierarchy. These fair values are typically determined using an income approach and/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, (iv) negotiations with prospective 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 calculation during and as of the year ended December 31, 2021, the Company’s fair value estimates primarily relied on a market approach, which utilized comparable market transactions and negotiations with prospective buyers. 2020 During the year ended December 31, 2020, the Company recognized an impairment charge of $15 million related to one life science facility due to its intent to demolish the facility for a future development project. Additionally, during the year ended December 31, 2020, the Company recognized an aggregate impairment charge of $210 million ($201 million of which is reported in income (loss) from discontinued operations) related to 42 SHOP assets, 5 senior housing triple-net assets, 5 MOBs, and 1 undeveloped MOB land parcel as a result of being classified as held for sale and wrote down their aggregate carrying value of $960 million to their aggregate fair value, less estimated costs to sell, of $750 million. For the Company’s impairment calculations during and as of the year ended December 31, 2020, the Company’s fair value estimates primarily relied on a market approach and utilized prices per unit ranging from $13,000 to $300,000, with a weighted average price per unit of $164,000. When utilizing the income approach, assumptions include, but are not limited to, terminal capitalization rates ranging from 5.5% to 7.5% and discount rates ranging from 8.0% to 9.5%. The fair value of the assets are considered to be Level 3 measurements within the fair value hierarchy. 2019 During the year ended December 31, 2019, the Company recognized an impairment charge of $4 million related to one MOB due to its intent to demolish the MOB for a future development project. Additionally, during the year ended December 31, 2019, the Company recognized an aggregate impairment charge of $194 million ($189 million of which is reported in income (loss) from discontinued operations) related to 8 senior housing triple-net assets, 27 SHOP assets, 3 MOBs, and 1 other non-reportable asset as a result of being classified as held for sale and wrote down their aggregate carrying value of $416 million to their aggregate fair value, less estimated costs to sell, of $223 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. For the Company’s impairment calculations during and as of 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. Lastly, 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 were 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 ($9 million of which is reported in income (loss) from discontinued operations). The fair value of the assets are considered to be Level 2 measurements within the fair value hierarchy. Goodwill Impairment 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. In connection with the disposition of the Company’s remaining senior housing triple-net and SHOP assets, the Company performed impairment assessments during the year ended December 31, 2021. As a result of these assessments, the Company recognized a $29 million goodwill impairment charge reported in income (loss) from discontinued operations, comprised of the following: (i) a $7 million goodwill impairment charge recognized during the second quarter of 2021, as the fair value of the remaining assets based on forecasted sales prices was less than the carrying value of the assets including the related goodwill as of the assessment date and (ii) a $22 million goodwill impairment charge recognized during the third quarter of 2021 to reduce the associated goodwill balance to zero following the sale of the remaining assets within the reporting units associated with the senior housing triple-net and SHOP portfolios. These fair value estimates primarily relied on a market approach, utilizing comparable market transactions, forecasted sales prices, and negotiations with prospective buyers. These estimates are considered to be a Level 3 measurement within the fair value hierarchy, and are subject to inherent uncertainties. During the year ended December 31, 2021, the fair value of the assets within each of the Company’s other reporting units was greater than the respective carrying value of the assets and related goodwill, and as a result, no impairment loss was recognized with respect to the other reporting units. During the years ended December 31, 2020 and 2019, no goodwill impairment loss was recognized. Other See Note 7 for information on the 2019 impairment charge related to the write-down of a DFL portfolio to its fair value. See Note 8 for information related to the Company's reserve for loan losses.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Fixed income from operating leases $ 1,087,683 $ 943,638 $ 853,545 Variable income from operating leases 290,701 238,470 215,957 Interest income from direct financing leases 8,702 9,720 16,666 Direct Financing Leases Net investment in DFLs consists of the following (in thousands): December 31, 2021 2020 Present value of minimum lease payments receivable $ 1,220 $ 9,804 Present value of estimated residual value 44,706 44,706 Less deferred selling profits (1,220) (9,804) Net investment in direct financing leases $ 44,706 $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2021 and 2020, the Company had one hospital under a DFL with a carrying amount of $45 million and an internal rating of “performing”. 2020 Direct Financing Lease Sale During the first quarter of 2020, the Company sold a hospital under a DFL for $82 million and recognized a gain on sale of $42 million, which is included in other income (expense), net. 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 (recognized in income (loss) from discontinued operations) 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 upon sale price, less estimated costs to sell, which was 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. For the DFL Sale Portfolio, during the year ended December 31, 2019, income from DFLs was $17 million (recognized in income (loss) from discontinued operations) and cash payments received were $16 million. 2019 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 transferred from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2021 (in thousands): Year Amount 2022 $ 1,220 2023 — 2024 — 2025 — 2026 — Thereafter — Undiscounted minimum lease payments receivable 1,220 Less: imputed interest — Present value of minimum lease payments receivable $ 1,220 Operating Leases Future Minimum Rents The following table summarizes future minimum lease payments to be received from tenants under non-cancelable operating leases as of December 31, 2021 (in thousands): Year Amount 2022 $ 1,057,467 2023 1,041,053 2024 979,640 2025 892,348 2026 783,781 Thereafter 3,171,115 $ 7,925,404 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 2022 $ 15,059 8 2023 1,191 1 2024 6,835 3 2025 12,564 16 2026 2,662 2 Thereafter 19,426 6 $ 57,737 36 _______________________________________ (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). 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, excluding lease costs related to assets classified as discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2021 2020 2019 Total lease expense $ 14,442 $ 13,601 $ 11,852 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 52 57 Weighted average discount rate: Operating leases 4.14 % 4.26 % _______________________________________ (1) The weighted average remaining lease term including the Company’s options to extend its operating leases is 68 years as of December 31, 2021. 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, 2021 (in thousands): Year Amount 2022 $ 16,030 2023 13,438 2024 12,575 2025 11,471 2026 11,406 Thereafter 484,552 Undiscounted minimum lease payments included in the lease liability 549,472 Less: imputed interest (344,925) Present value of lease liability $ 204,547 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, 2021 and 2020 is $7 million and $6 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2021, 2020, and 2019 is $2 million of depreciation expense related to corporate assets. Covid Rent Deferrals During the second and third quarters of 2020, the Company agreed to defer rent from certain tenants in its life science and medical office segments that were impacted by Covid, with the requirement that all deferred rent be repaid by the end of 2020. Under this program, through December 31, 2020, approximately $6 million of rent was deferred for the medical office segment, all of which had been collected as of December 31, 2020. Additionally, through December 31, 2020, the Company granted approximately $1 million of rent deferrals to certain tenants in the life science segment that were impacted by Covid, all of which had been collected as of December 31, 2020. No such deferrals were granted during the year ended December 31, 2021. The rent deferrals granted do not impact the pattern of revenue recognition or amount of revenue recognized (refer to Note 2 for additional information).
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Fixed income from operating leases $ 1,087,683 $ 943,638 $ 853,545 Variable income from operating leases 290,701 238,470 215,957 Interest income from direct financing leases 8,702 9,720 16,666 Direct Financing Leases Net investment in DFLs consists of the following (in thousands): December 31, 2021 2020 Present value of minimum lease payments receivable $ 1,220 $ 9,804 Present value of estimated residual value 44,706 44,706 Less deferred selling profits (1,220) (9,804) Net investment in direct financing leases $ 44,706 $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2021 and 2020, the Company had one hospital under a DFL with a carrying amount of $45 million and an internal rating of “performing”. 2020 Direct Financing Lease Sale During the first quarter of 2020, the Company sold a hospital under a DFL for $82 million and recognized a gain on sale of $42 million, which is included in other income (expense), net. 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 (recognized in income (loss) from discontinued operations) 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 upon sale price, less estimated costs to sell, which was 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. For the DFL Sale Portfolio, during the year ended December 31, 2019, income from DFLs was $17 million (recognized in income (loss) from discontinued operations) and cash payments received were $16 million. 2019 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 transferred from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2021 (in thousands): Year Amount 2022 $ 1,220 2023 — 2024 — 2025 — 2026 — Thereafter — Undiscounted minimum lease payments receivable 1,220 Less: imputed interest — Present value of minimum lease payments receivable $ 1,220 Operating Leases Future Minimum Rents The following table summarizes future minimum lease payments to be received from tenants under non-cancelable operating leases as of December 31, 2021 (in thousands): Year Amount 2022 $ 1,057,467 2023 1,041,053 2024 979,640 2025 892,348 2026 783,781 Thereafter 3,171,115 $ 7,925,404 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 2022 $ 15,059 8 2023 1,191 1 2024 6,835 3 2025 12,564 16 2026 2,662 2 Thereafter 19,426 6 $ 57,737 36 _______________________________________ (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). 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, excluding lease costs related to assets classified as discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2021 2020 2019 Total lease expense $ 14,442 $ 13,601 $ 11,852 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 52 57 Weighted average discount rate: Operating leases 4.14 % 4.26 % _______________________________________ (1) The weighted average remaining lease term including the Company’s options to extend its operating leases is 68 years as of December 31, 2021. 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, 2021 (in thousands): Year Amount 2022 $ 16,030 2023 13,438 2024 12,575 2025 11,471 2026 11,406 Thereafter 484,552 Undiscounted minimum lease payments included in the lease liability 549,472 Less: imputed interest (344,925) Present value of lease liability $ 204,547 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, 2021 and 2020 is $7 million and $6 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2021, 2020, and 2019 is $2 million of depreciation expense related to corporate assets. Covid Rent Deferrals During the second and third quarters of 2020, the Company agreed to defer rent from certain tenants in its life science and medical office segments that were impacted by Covid, with the requirement that all deferred rent be repaid by the end of 2020. Under this program, through December 31, 2020, approximately $6 million of rent was deferred for the medical office segment, all of which had been collected as of December 31, 2020. Additionally, through December 31, 2020, the Company granted approximately $1 million of rent deferrals to certain tenants in the life science segment that were impacted by Covid, all of which had been collected as of December 31, 2020. No such deferrals were granted during the year ended December 31, 2021. The rent deferrals granted do not impact the pattern of revenue recognition or amount of revenue recognized (refer to Note 2 for additional information).
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Fixed income from operating leases $ 1,087,683 $ 943,638 $ 853,545 Variable income from operating leases 290,701 238,470 215,957 Interest income from direct financing leases 8,702 9,720 16,666 Direct Financing Leases Net investment in DFLs consists of the following (in thousands): December 31, 2021 2020 Present value of minimum lease payments receivable $ 1,220 $ 9,804 Present value of estimated residual value 44,706 44,706 Less deferred selling profits (1,220) (9,804) Net investment in direct financing leases $ 44,706 $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2021 and 2020, the Company had one hospital under a DFL with a carrying amount of $45 million and an internal rating of “performing”. 2020 Direct Financing Lease Sale During the first quarter of 2020, the Company sold a hospital under a DFL for $82 million and recognized a gain on sale of $42 million, which is included in other income (expense), net. 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 (recognized in income (loss) from discontinued operations) 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 upon sale price, less estimated costs to sell, which was 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. For the DFL Sale Portfolio, during the year ended December 31, 2019, income from DFLs was $17 million (recognized in income (loss) from discontinued operations) and cash payments received were $16 million. 2019 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 transferred from the senior housing triple-net segment to the SHOP segment during the first quarter of 2019. Direct Financing Lease Receivable Maturities The following table summarizes future minimum lease payments contractually due under DFLs at December 31, 2021 (in thousands): Year Amount 2022 $ 1,220 2023 — 2024 — 2025 — 2026 — Thereafter — Undiscounted minimum lease payments receivable 1,220 Less: imputed interest — Present value of minimum lease payments receivable $ 1,220 Operating Leases Future Minimum Rents The following table summarizes future minimum lease payments to be received from tenants under non-cancelable operating leases as of December 31, 2021 (in thousands): Year Amount 2022 $ 1,057,467 2023 1,041,053 2024 979,640 2025 892,348 2026 783,781 Thereafter 3,171,115 $ 7,925,404 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 2022 $ 15,059 8 2023 1,191 1 2024 6,835 3 2025 12,564 16 2026 2,662 2 Thereafter 19,426 6 $ 57,737 36 _______________________________________ (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). 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, excluding lease costs related to assets classified as discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2021 2020 2019 Total lease expense $ 14,442 $ 13,601 $ 11,852 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 52 57 Weighted average discount rate: Operating leases 4.14 % 4.26 % _______________________________________ (1) The weighted average remaining lease term including the Company’s options to extend its operating leases is 68 years as of December 31, 2021. 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, 2021 (in thousands): Year Amount 2022 $ 16,030 2023 13,438 2024 12,575 2025 11,471 2026 11,406 Thereafter 484,552 Undiscounted minimum lease payments included in the lease liability 549,472 Less: imputed interest (344,925) Present value of lease liability $ 204,547 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, 2021 and 2020 is $7 million and $6 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2021, 2020, and 2019 is $2 million of depreciation expense related to corporate assets. Covid Rent Deferrals During the second and third quarters of 2020, the Company agreed to defer rent from certain tenants in its life science and medical office segments that were impacted by Covid, with the requirement that all deferred rent be repaid by the end of 2020. Under this program, through December 31, 2020, approximately $6 million of rent was deferred for the medical office segment, all of which had been collected as of December 31, 2020. Additionally, through December 31, 2020, the Company granted approximately $1 million of rent deferrals to certain tenants in the life science segment that were impacted by Covid, all of which had been collected as of December 31, 2020. No such deferrals were granted during the year ended December 31, 2021. The rent deferrals granted do not impact the pattern of revenue recognition or amount of revenue recognized (refer to Note 2 for additional information).

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Loans Receivable	Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2021 2020 Secured loans (1) $ 396,281 $ 161,530 Mezzanine and other 25,529 44,347 Unamortized discounts, fees, and costs (4,186) (222) Reserve for loan losses (1,813) (10,280) Loans receivable, net $ 415,811 $ 195,375 _______________________________________ (1) At December 31, 2021 and 2020, the Company had $58 million and $11 million, respectively, remaining of commitments to fund senior housing redevelopment and capital expenditure projects. During the years ended December 31, 2021, 2020, and 2019, the Company recognized $36 million, $13 million, and $6 million, respectively, of interest income related to loans secured by real estate. SHOP Seller Financing In conjunction with the sale of 32 SHOP facilities in the Sunrise Senior Housing Portfolio for $664 million in January 2021 (see Note 5), the Company provided the buyer with initial financing of $410 million. The remainder of the sales price was received in cash at the time of sale. Additionally, the Company agreed to provide up to $92 million of additional financing for capital expenditures (up to 65% of the estimated cost of capital expenditures). The additional financing was subsequently reduced to $56 million in conjunction with the principal repayments discussed below, $0.4 million of which had been funded as of December 31, 2021. The initial and additional financing is secured by the buyer's equity ownership in each property. In June 2021, the Company received principal repayments of $246 million on the initial financing provided in conjunction with the sale of the Sunrise Senior Housing Portfolio in January 2021. The Company accelerated recognition of $7 million of the related mark-to-market discount, which is included in interest income in the Consolidated Statements of Operations for the year ended December 31, 2021 . As of December 31, 2021, this secured loan had an outstanding principal balance of $165 million. In conjunction with the sale of 16 additional SHOP facilities for $230 million in January 2021 (see Note 5), the Company provided the buyer with financing of $150 million. The remainder of the sales price was received in cash at the time of sale. The financing is secured by the buyer's equity ownership in each property. In December 2020, in conjunction with the sale of 4 of the 12 SHOP facilities in the Atria SHOP Portfolio for $94 million (see Note 5), the Company provided the buyer with financing of $61 million. The remainder of the sales price was received in cash at the time of sale. The financing is secured by the buyer's equity ownership in each of the four properties. During the first quarter of 2021, the Company reduced the consideration and reported gain on sales of real estate and recognized a mark-to-market discount of $16 million for certain transactions with seller financing. The Company’s discount is based on the difference between the stated interest rates (ranging from 3.50% to 4.50%) and corresponding prevailing market rates of approximately 5.25% as of the transaction dates. The discount is recognized as interest income over the term of the discounted loans (ranging from one $13 million of non-cash interest income related to the amortization of its mark-to-market discounts, of which $7 million was recognized during the year ended December 31, 2021 as a result of the accelerated recognition discussed above related to the Sunrise Senior Housing Portfolio. The Company recognized an immaterial amount of non-cash interest income associated with seller financing notes receivable during the year ended December 31, 2020 and zero non-cash interest income associated with seller financing notes receivable during the year ended December 31, 2019. 2021 Other Loans Receivable Transactions The Company classifies a loan receivable as held for sale when management no longer has the intent or ability to hold the loan receivable for the foreseeable future or until maturity. If a loan receivable is classified as held for sale, previously recorded reserves for loan losses are reversed and the loan is reported at the lower of amortized cost or fair value. During the second quarter of 2021, two loans receivable with a total amortized cost of $64 million were classified as held for sale. Upon the transfer of these two loans to held for sale, the carrying value was decreased by $11 million to an estimated fair value of $53 million, $8 million of which was previously recognized as a reserve for loan losses. As a result, a $3 million net loss was recognized in impairments and loan loss reserves (recoveries), net during the year ended December 31, 2021. In September 2021, the Company sold one of the loans receivable previously classified as held for sale, for its carrying value of $2 million. In November 2021, the Company sold the other loan receivable classified as held for sale, for its carrying value of $51 million. These fair value estimates were made for each individual loan classified as held for sale and primarily relied on a market approach, utilizing comparable market transactions, forecasted sales prices, and negotiations with prospective buyers. These estimates are considered to be a Level 3 measurement within the fair value hierarchy, and are subject to inherent uncertainties. Additionally, in April 2021, the Company sold two mezzanine loans as part of the Discovery SHOP Portfolio disposition (see Note 5), resulting in no gain or loss on sale of the mezzanine loans . In May 2021, the Company received a $10 million principal repayment related to one of its secured loans. In September 2021, the Company received repayment of the remaining $15 million balance. In July 2021, the Company received full repayment of the outstanding balance of an $8 million secured loan. 2020 Other Loans Receivable Transactions For certain residents that qualify, CCRCs may offer to lend residents the necessary funds to satisfy the entrance fee requirements so that they are able to move into a community while still continuing the process of selling their previous home. The loans are due upon sale of the previous residence. Upon completing the CCRC Acquisition (see Note 3) in January 2020, the Company began consolidating 13 CCRCs, which held approximately $30 million of such notes receivable from various community residents at the time of acquisition. At December 31, 2021 and 2020, the Company held $24 million and $23 million of such notes receivable, respectively, which are included in mezzanine and other in the table above. In November 2020, the Company sold one mezzanine loan with a $10 million principal balance for $8 million, resulting in a $2 million loss recognized in impairments and loan loss reserves (recoveries), net. In December 2020, the Company sold one secured loan with a $115 million principal balance for $109 million, resulting in a $6 million loss recognized in impairments and loan loss reserves (recoveries), net. Loans Receivable Internal Ratings In connection with the Company’s quarterly review process or upon the occurrence of a significant event, loans receivable are reviewed and assigned an internal rating of Performing, Watch List, or Workout. Loans that are deemed Performing meet all present contractual obligations, and collection and timing of all amounts owed is reasonably assured. Watch List Loans are defined as loans that do not meet the definition of Performing or Workout. Workout Loans are defined as loans 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 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. The following table summarizes, by year of origination, the Company’s internal ratings for loans receivable, net of unamortized discounts, fees, and reserves for loan losses, as of December 31, 2021 (in thousands): Investment Type Year of Origination Total 2021 2020 2019 2018 2017 Prior Secured loans Risk rating: Performing loans $ 309,494 $ 78,606 $ 2,191 $ — $ — $ — $ 390,291 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ 309,494 $ 78,606 $ 2,191 $ — $ — $ — $ 390,291 Mezzanine and other Risk rating: Performing loans $ 23,901 $ 1,522 $ 97 $ — $ — $ — $ 25,520 Watch list loans — — — — — — — Workout loans — — — — — — — Total mezzanine and other $ 23,901 $ 1,522 $ 97 $ — $ — $ — $ 25,520 Reserve for Loan Losses The Company evaluates the liquidity and creditworthiness of its borrowers on a quarterly basis to determine whether any updates to the future expected losses recognized upon inception are necessary. The Company’s evaluation considers industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity, and other factors. The determination of loan losses also considers concentration of credit risk associated with the senior housing industry to which its loans receivable relate. The Company’s borrowers furnish property, portfolio, and guarantor/operator-level financial statements, among other information, on a monthly or quarterly basis, which the Company utilizes to calculate the debt service coverages used in its assessment of internal ratings, which is a primary credit quality indicator. Debt service coverage information is evaluated together with other property, portfolio, and operator performance information, including revenue, expense, NOI, occupancy, rental rates, capital expenditures, and EBITDA (defined as earnings before interest, tax, and depreciation and amortization), along with other liquidity measures. In its assessment of current expected credit losses for loans receivable and unfunded loan commitments, the Company utilizes past payment history of its borrowers, current economic conditions, and forecasted economic conditions through the maturity date of each loan to estimate a probability of default and a resulting loss for each loan receivable. Future economic conditions are based primarily on near-term economic forecasts from the Federal Reserve and reasonable assumptions for long-term economic trends. The following table summarizes the Company’s reserve for loan losses (in thousands): December 31, 2021 December 31, 2020 Secured Loans Mezzanine and Other Total Secured Loans Mezzanine and Other Total Reserve for loan losses, beginning of period $ 3,152 $ 7,128 $ 10,280 $ — $ — $ — Cumulative-effect of adopting ASU 2016-13 to beginning retained earnings — — — 513 907 1,420 Provision for expected loan losses 793 896 1,689 2,898 14,356 17,254 Expected loan losses related to loans sold or repaid (1) (2,141) (8,015) (10,156) (259) (8,135) (8,394) Reserve for loan losses, end of period $ 1,804 $ 9 $ 1,813 $ 3,152 $ 7,128 $ 10,280 _______________________________________ (1) Includes six loans sold or repaid during t he year ended December 31, 2021 and three loans sold or repaid during the year ended December 31, 2020. Additionally, at December 31, 2021 and 2020, a liability of

Investments in and Advances to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2021
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, excluding investments classified as discontinued operations (in thousands): Carrying Amount December 31, Entity (1)(2) Segment Property Count (3) Ownership % (3) 2021 2020 SWF SH JV Other 19 54 $ 355,394 $ 357,581 Life Science JV Life science 1 49 25,605 24,879 Needham Land Parcel JV (4) Life science — 38 13,566 — Medical Office JVs (5) Medical office 3 20 - 67 9,069 9,673 Other JVs (6) Other — — — 9,157 CCRC JV (7) CCRC — — — 1,581 $ 403,634 $ 402,871 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Excludes the Otay Ranch JV (90% ownership percentage), which was classified as discontinued operations and had an aggregate carrying value of $6 million at December 31, 2020 (see Note 5). In April 2021, the SHOP property in the Otay Ranch JV was sold, resulting in the Company’s share of proceeds of $32 million and a gain on sale of $5 million recognized in equity income (loss) from unconsolidated joint ventures within income (loss) from discontinued operations for the year ended December 31, 2021. (3) Property count and ownership percentage are as of December 31, 2021. (4) In December 2021, the Company acquired a 38% interest in a life science development joint venture in Needham, Massachusetts for $13 million. Land held for development is excluded from the property count as of December 31, 2021. (5) Includes three unconsolidated medical office joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%); (ii) Ventures III (30%); and (iii) Suburban Properties, LLC (67%). (6) At December 31, 2020, includes two unconsolidated other joint ventures in which the Company’s ownership percentage is as follows: (i) Discovery Naples JV (41%) and (ii) Discovery Sarasota JV (47%). In April 2021, the Company sold its two preferred equity investments for their carrying value as part of the Discovery SHOP Portfolio disposition (see Note 5). (7) See Note 3 for a discussion of the 2019 MTCA with Brookdale, including the acquisition of Brookdale’s interest in 13 of the 15 communities in the CCRC JV in January 2020. In May 2021, the two remaining CCRCs were sold for $38 million, $19 million of which represents the Company’s 49% interest, resulting in an immaterial gain on sale recorded within equity income (loss) from unconsolidated joint ventures for the year ended December 31, 2021. At December 31, 2021 and 2020, the aggregate unamortized basis difference of the Company's investments in unconsolidated joint ventures of $42 million and $33 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 is included in equity income (loss) from unconsolidated joint ventures. CCRC JV. During 2019, the CCRC JV recognized an impairment charge of $12 million. Accordingly, 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. U.K. JV. In December 2019, the Company sold its 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 sales 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, 2021
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 (dollars in thousands): December 31, Intangible lease assets 2021 2020 Gross intangible lease assets $ 797,675 $ 761,328 Accumulated depreciation and amortization (277,915) (241,411) Intangible assets, net (1) $ 519,760 $ 519,917 Weighted average remaining amortization period in years 6 5 _______________________________________ (1) Excludes intangible assets reported in assets held for sale and discontinued operations, net of zero and $25 million as of December 31, 2021 and 2020. Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands): December 31, Intangible lease liabilities 2021 2020 Gross intangible lease liabilities $ 234,917 $ 194,565 Accumulated depreciation and amortization (57,685) (50,366) Intangible liabilities, net $ 177,232 $ 144,199 Weighted average remaining amortization period in years 8 8 The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands): Year Ended December 31, 2021 2020 2019 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 106,106 $ 89,301 $ 46,828 Rental and related revenues related to amortization of net below market lease liabilities (1) 20,597 11,717 6,319 _______________________________________ (1) Excludes amortization related to assets classified as discontinued operations. During the year ended December 31, 2021, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $109 million and intangible liabilities of $57 million. The intangible assets and liabilities acquired had a weighted average amortization period at acquisition of 9 years. During the year ended December 31, 2020, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $352 million and intangible liabilities of $83 million. The intangible assets and intangible liabilities acquired had a weighted average amortization period at acquisition of 7 years and 9 years, respectively. 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) 2022 $ 24,008 $ 103,753 2023 23,250 98,511 2024 22,407 94,826 2025 21,383 83,308 2026 18,912 51,407 Thereafter 55,032 75,715 $ 164,992 $ 507,520 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related revenues. (2) The amortization of lease-up intangibles is recorded to depreciation and amortization expense. Goodwill

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Bank Line of Credit and Term Loan On May 23, 2019, the Company executed a $2.5 billion unsecured revolving line of credit facility, with a maturity date of May 23, 2023 and two six-month extension options, subject to certain customary conditions. Also in May 2019, the Company entered into a $250 million unsecured term loan facility, with a maturity date of May 23, 2024 (the “2019 Term Loan”). In July 2021, the Company repaid the $250 million 2019 Term Loan; therefore, at December 31, 2021, there was no outstanding balance. The outstanding balance on the 2019 Term Loan at December 31, 2020 was $250 million. In September 2021, the Company executed an amended and restated unsecured revolving line of credit (the “Revolving Facility”), to increase total revolving commitments from $2.5 billion to $3.0 billion and extend the maturity date to January 20, 2026. This maturity date may be further extended pursuant to 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 the credit ratings of the Company’s senior unsecured long-term debt. The Company also pays a facility fee on the entire revolving commitment that depends on its credit ratings. Based on the Company’s credit ratings at December 31, 2021, the margin on the Revolving Facility was 0.78% and the facility fee was 0.15%. At December 31, 2021 and 2020, the Company had no balance outstanding under the Revolving Facility. The Revolving Facility includes a feature that allows the Company to increase the borrowing capacity by an aggregate amount of up to $750 million, subject to securing additional commitments. Further, the Revolving Facility includes customary LIBOR replacement language, including, but not limited to, the use of rates based on the secured overnight financing rate administered by the Federal Reserve Bank of New York. The Revolving Facility also includes a sustainability-linked pricing component whereby the applicable margin may be reduced by up to 0.025% based on the Company’s achievement of specified sustainability-linked metrics, subject to certain conditions. The Revolving Facility also contains certain financial restrictions and other customary requirements, including financial covenants and cross-default provisions to other indebtedness. Among other things, these covenants, using terms defined in the agreement: (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 $7.7 billion. The Company believes it was in compliance with each of these covenants at December 31, 2021. 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. During 2021, the Company increased the maximum aggregate face or principal amount that can be outstanding at any one time from $1.0 billion to $1.5 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 uses its Revolving Facility as a liquidity backstop for the repayment of unsecured short-term debt securities issued under the Commercial Paper Program. At December 31, 2021, the Company had $1.17 billion of securities outstanding under the Commercial Paper Program, with original maturities of approximately two months and a weighted average interest rate of 0.32%. At December 31, 2020, the Company had $130 million of securities outstanding under the Commercial Paper Program, with original maturities of approximately one month and a weighted average interest rate of 0.30%. Senior Unsecured Notes At December 31, 2021, the Company had senior unsecured notes outstanding with an aggregate principal balance of $4.7 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, 2021. In July 2021, the Company completed its inaugural green bond offering. In November 2021, the Company completed a second green bond offering. Both green bonds are or will be allocated to eligible green projects, and the Company may choose to allocate or re-allocate net proceeds from such offerings to one more other eligible green projects. The following table summarizes the Company’s senior unsecured notes issuances, including the green bond offerings discussed above, for the periods presented (dollars in thousands): Issue Date Amount Coupon Rate Maturity Date Year ended December 31, 2021: November 24, 2021 $ 500,000 2.13 % 2028 July 12, 2021 450,000 1.35 % 2027 Year ended December 31, 2020: June 23, 2020 600,000 2.88 % 2031 Year ended December 31, 2019: November 21, 2019 750,000 3.00 % 2030 July 5, 2019 650,000 3.25 % 2026 July 5, 2019 650,000 3.50 % 2029 The following table summarizes the Company’s senior unsecured notes repurchases and redemptions for the periods presented (dollars in thousands): Payoff Date Amount Coupon Rate Maturity Date Year ended December 31, 2021: May 19, 2021 (1) $ 251,806 3.40 % 2025 May 19, 2021 (1) 298,194 4.00 % 2025 February 26, 2021 (2) 188,000 4.25 % 2023 February 26, 2021 (2) 149,000 4.20 % 2024 February 26, 2021 (2) 331,000 3.88 % 2024 January 28, 2021 (2) 112,000 4.25 % 2023 January 28, 2021 (2) 201,000 4.20 % 2024 January 28, 2021 (2) 469,000 3.88 % 2024 Year ended December 31, 2020: July 9, 2020 (3) 300,000 3.15 % 2022 June 24, 2020 (4) 250,000 4.25 % 2023 Year ended December 31, 2019: November 21, 2019 (5) 350,000 4.00 % 2022 July 22, 2019 (6) 800,000 2.63 % 2020 July 8, 2019 (6) 250,000 4.00 % 2022 July 8, 2019 (6) 250,000 4.25 % 2023 _______________________________________ (1) Upon repurchasing a portion of the 3.40% and 4.00% senior unsecured notes due 2025, the Company recognized a $61 million loss on debt extinguishment during the year ended December 31, 2021. (2) Upon completing the repurchases and redemptions of all outstanding 4.25%, 4.20%, and 3.88% senior unsecured notes due 2023 and 2024, the Company recognized a $164 million loss on debt extinguishment during the year ended December 31, 2021. (3) Upon completing the redemption of all outstanding 3.15% senior unsecured notes due 2022, the Company recognized an $18 million loss on debt extinguishment during the year ended December 31, 2020. (4) Upon repurchasing a portion of the 4.25% senior unsecured notes due 2023, the Company recognized a $26 million loss on debt extinguishment during the year ended December 31, 2020. (5) Upon repurchasing the 4.00% senior unsecured notes due in 2022, the Company recognized a $22 million loss on debt extinguishment during the year ended December 31, 2019. (6) Upon completing the redemption of the 2.63% senior unsecured notes due in 2020 and repurchasing a portion of the 4.25% senior unsecured notes due in 2023 and the 4.00% senior unsecured notes due in 2022, the Company recognized a $35 million loss on debt extinguishment during the year ended December 31, 2019. Mortgage Debt At December 31, 2021 and 2020, the Company had $350 million and $217 million, respectively, in aggregate principal of mortgage debt outstanding (excluding mortgage debt on assets held for sale and discontinued operations), which was secured by 18 and 6 healthcare facilities, respectively, with an aggregate carrying value of $811 million and $517 million, respectively. During the years ended December 31, 2021, 2020, and 2019 the Company made aggregate principal repayments of mortgage debt of $9 million, $5 million, and $1 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Mortgage debt generally requires monthly principal and interest payments, is collateralized by real estate assets, and is 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 April 2021, in conjunction with the acquisition of the MOB Portfolio, the Company originated $142 million of secured mortgage debt (see Note 4) that matures in May 2026 and has a weighted average effective interest rate of 2.77% as of December 31, 2021. Debt Maturities The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2021 (dollars in thousands): Senior Unsecured Notes (2) Mortgage Debt (3) Year Bank Line of Credit Commercial Paper (1) Amount Interest Rate Amount Interest Rate Total 2022 $ — $ — $ — — % $ 5,048 3.80 % $ 5,048 2023 — — — — % 90,089 3.80 % 90,089 2024 — — — — % 7,024 3.81 % 7,024 2025 — — 800,000 3.93 % 3,209 3.80 % 803,209 2026 — 1,165,975 650,000 3.39 % 244,523 3.11 % 2,060,498 Thereafter — — 3,250,000 3.24 % 366 5.91 % 3,250,366 — 1,165,975 4,700,000 350,259 6,216,234 Premiums, (discounts), and debt issuance costs, net — — (48,067) 1,822 (46,245) $ — $ 1,165,975 $ 4,651,933 $ 352,081 $ 6,169,989 _______________________________________ (1) Commercial Paper Program borrowings are backstopped by the Revolving Facility. As such, the Company calculates the weighted average remaining term of its Commercial Paper Program borrowings using the maturity date of the Revolving Facility. (2) Effective interest rates on the senior unsecured notes range from 1.54% to 6.91% with a weighted average effective interest rate of 3.39% and a weighted average maturity of 7 years. (3) Effective interest rates on the mortgage debt range from 2.59% to 5.91% with a weighted average effective interest rate of 3.31% and a weighted average maturity of 4 years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to legal proceedings, lawsuits and other claims that arise in the ordinary course of the Company’s business. The Company is not aware of any legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company’s financial condition, results of operations, or cash flows. The Company’s policy is to expense legal costs as they are incurred. DownREITs and Other Partnerships In connection with the formation of certain, limited liability companies (“DownREITs”), members may contribute appreciated real estate to a DownREIT 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, 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. Under these indemnification agreements, if any of the appreciated real estate contributed by the members is sold by the DownREIT 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 expirations terms that range through 2039 on a total of 29 properties. Additionally, the Company owns a 49% interest in an unconsolidated joint venture acquired in December 2020 as part of the Cambridge Discovery Park Acquisition (see Note 4). If the property in the joint venture is sold in a taxable transaction, the Company is generally obligated to indemnify its joint venture partner for its federal and state income taxes associated with the gain that existed at the time of the contribution to the joint venture. Commitments The following table summarizes the Company’s material commitments, excluding debt service obligations (see Note 11), obligations as the lessee under operating leases (see Note 7), and potential future obligations related to redeemable noncontrolling interests (see Note 13) at December 31, 2021 (in thousands): Amount Development and redevelopment commitments (1) $ 386,647 Lease and other contractual commitments (2) 82,644 Construction loan commitments (3) 57,881 Total $ 527,172 _______________________________________ (1) Represents construction and other commitments as of December 31, 2021 for developments and redevelopments in progress and includes allowances for tenant improvements that the Company has provided as a lessor. (2) Represents the Company's commitments, as lessor, under signed leases and contracts for operating properties as of December 31, 2021 and includes allowances for tenant improvements and leasing commissions. Excludes allowances for tenant improvements related to developments and redevelopments in progress for which the Company has executed an agreement with a general contractor to complete the tenant improvements (recognized in the “Development and redevelopment commitments” line). (3) Represents loan commitments as of December 31, 2021 to fund senior housing redevelopment and capital expenditure projects. Credit Enhancement Guarantee Prior to December 31, 2020, certain of the Company’s senior housing facilities served as collateral for debt that was owed by a previous owner of the facilities. This indebtedness was guaranteed by the previous owner who has an investment grade credit rating. In conjunction with certain of the Company’s planned dispositions of SHOP assets, during October 2020, the debt to which the Company’s assets served as collateral was defeased. As part of that defeasance, the Company paid approximately $11 million of the defeasance premium during the year ended December 31, 2020, which was recognized as a transaction cost expense and reported in income (loss) from discontinued operations. 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 and Redeemable Noncontro

Equity and Redeemable Noncontrolling Interests	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Equity and Redeemable Noncontrolling Interests	Equity and Redeemable Noncontrolling Interests Dividends On January 27, 2022, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share. The common stock cash dividend will be paid on February 22, 2022 to stockholders of record as of the close of business on February 11, 2022. During the years ended December 31, 2021, 2020, and 2019, the Company declared and paid common stock cash dividends of $1.20, $1.48, and $1.48 per share, respectively. At-The-Market Equity Offering Program In February 2020, the Company established an at-the-market equity offering program (as amended from time to time, the “ATM Program”), which was most recently amended in May 2021 to increase the size of the program from $1.25 billion to $1.5 billion, pursuant to which shares of common stock having an aggregate gross sales price of up to $1.5 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 (each, an “ATM forward contract”). The use of ATM forward contracts allows the Company to lock in a share price on the sale of shares at the time the ATM forward contract is effective, but defer receiving the proceeds from the sale of shares until a later date. ATM forward contracts generally have a one two At December 31, 2021, $1.18 billion of the Company’s common stock remained available for sale under the ATM Program. ATM Forward Contracts During the year ended December 31, 2021, the Company utilized the forward provisions under the ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $35.25 per share, after commissions. During the year ended December 31, 2021, no shares were settled under ATM forward contracts. Therefore, at December 31, 2021, 9.1 million shares remained outstanding under ATM forward contracts. During the year ended December 31, 2020, the Company did not utilize the forward provisions under the ATM Program. However, during the year ended December 31, 2020, the Company utilized the forward provisions under a previous ATM program established in 2019 to allow for the sale of an aggregate of 2.0 million shares of its common stock at an initial weighted average net price of $35.23 per share, after commissions. During the year ended December 31, 2019, the Company utilized the forward provisions under a previous ATM program established in 2019 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 three months ended March 31, 2020, the Company settled all 16.8 million shares previously outstanding under ATM forward contracts at a weighted average net price of $31.38 per share, after commissions, resulting in net proceeds of $528 million. Therefore, at December 31, 2020, no shares remained outstanding under ATM forward contracts. 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. ATM Direct Issuances During the years ended December 31, 2021 and 2020, no shares of common stock were issued under any ATM program. During the year ended December 31, 2019, the Company issued 5.9 million shares of common stock under a previous ATM program established in 2019 at a weighted average net price of $31.84 per share, after commissions, resulting in net proceeds of $189 million. 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, which was 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 three months ended March 31, 2020, the Company settled all 15.6 million shares under the 2019 forward equity sales agreement at a weighted average net price of $34.18 per share, resulting in net proceeds of $534 million (total net proceeds of $1.06 billion, when aggregated with the net proceeds from settling ATM forward contracts, as discussed above). Therefore, at December 31, 2021 and 2020, no 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. 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. The following table summarizes the Company’s other common stock activities (in thousands): Year Ended December 31, 2021 2020 2019 Dividend Reinvestment and Stock Purchase Plan $ 81 $ 181 $ 336 Conversion of DownREIT units 8 120 213 Exercise of stock options 97 54 152 Vesting of restricted stock units 924 668 468 Repurchase of common stock 418 298 162 Accumulated Other Comprehensive Income (Loss) The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2021 2020 Unrealized gains (losses) on derivatives, net $ — $ (81) Supplemental Executive Retirement Plan minimum liability (3,147) (3,604) Total accumulated other comprehensive income (loss) $ (3,147) $ (3,685) Redeemable 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. Certain of the Company’s noncontrolling interest holders have the ability to put their equity interests to the Company upon specified events or after the passage of a predetermined period of time. Each put option is payable in cash and subject to increases in redemption value in the event that the underlying property generates specified returns for the Company and meets certain promote thresholds pursuant to the respective agreements. Accordingly, the Company records redeemable noncontrolling interests outside of permanent equity and presents the redeemable noncontrolling interests at the greater of their carrying amount or redemption value at the end of each reporting period. During the year ended December 31, 2021, one of the redeemable noncontrolling interests met the conditions for redemption and the related put option was exercised during the year then ended. Accordingly, the Company made a cash payment for the redemption value of $60 million to the related noncontrolling interest holder during the year ended December 31, 2021 and acquired the redeemable noncontrolling interest associated with this entity. The remaining redeemable noncontrolling interests had not yet met the conditions for redemption as of December 31, 2021. Three of the interests will become redeemable following the passage of a predetermined amount of time, which will occur in 2022, 2023, and 2024. The fourth interest will become redeemable at the earlier of a predetermined passage of time or stabilization of the underlying development property, which is expected to occur in 2023. The redemption values are subject to change based on the assessment of value at each redemption date. As of December 31, 2020, none of the redeemable noncontrolling interests were exercisable. Noncontrolling Interests The non-managing member units of the Company’s DownREITs 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. At December 31, 2021, there were five million DownREIT units (seven million shares of Healthpeak common stock are issuable upon conversion) outstanding in seven DownREIT LLCs, for all of which the Company acts as the managing member. At December 31, 2021, the carrying and market values of the five million DownREIT units were $201 million and $264 million, respectively. At December 31, 2020, the carrying and market values of the five million DownREIT units were $199 million and $221 million, respectively.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2021
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. Refer to Note 13 for a discussion of the sale of shares under and settlement of forward sales agreements during the periods presented. 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 calculate 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 years ended December 31, 2021, 2020 and 2019 was 1 thousand, 201 thousand, and 2.8 million weighted-average incremental shares, respectively, 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, 2021 2020 2019 Numerator Income (loss) from continuing operations $ 137,728 $ 160,507 $ 175,469 Noncontrolling interests' share in continuing operations (17,851) (14,394) (14,558) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 119,877 146,113 160,911 Less: Participating securities' share in continuing operations (3,269) (2,416) (1,543) Income (loss) from continuing operations applicable to common shares 116,608 143,697 159,368 Income (loss) from discontinued operations 388,202 267,746 (115,408) Noncontrolling interests' share in discontinued operations (2,539) (296) 27 Net income (loss) applicable to common shares $ 502,271 $ 411,147 $ 43,987 Denominator Basic weighted average shares outstanding 538,930 530,555 486,255 Dilutive potential common shares - equity awards (1) 310 300 309 Dilutive potential common shares - forward equity agreements (2) 1 201 2,771 Diluted weighted average common shares 539,241 531,056 489,335 Basic earnings (loss) per common share Continuing operations $ 0.22 $ 0.27 $ 0.33 Discontinued operations 0.71 0.50 (0.24) Net income (loss) applicable to common shares $ 0.93 $ 0.77 $ 0.09 Diluted earnings (loss) per common share: Continuing operations $ 0.22 $ 0.27 $ 0.33 Discontinued operations 0.71 0.50 (0.24) Net income (loss) applicable to common shares $ 0.93 $ 0.77 $ 0.09 _______________________________________ (1) For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options). (2) For the year ended December 31, 2021, represents the dilutive impact of 9 million shares that have not been settled as of December 31, 2021. For the year ended December 31, 2020, represents the dilutive impact of 32 million shares that were settled during the year then ended. For the year ended December 31, 2019, represents the dilutive impact of 21 million shares that were settled during the year then ended and 30 million shares of common stock under forward sales agreements that had not been settled as of December 31, 2019. For the years ended December 31, 2021, 2020, and 2019,

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2021
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, 2021, 26 million of the reserved shares under the 2014 Plan are available for future awards, of which 17 million shares may be issued as restricted stock or restricted stock units. Total share-based compensation cost was $23 million, $21 million, and $18 million for the years ended December 31, 2021, 2020, and 2019, respectively. Of the total share-based compensation cost, $3 million, $2 million, and $2 million was capitalized as part of real estate for the years ended December 31, 2021, 2020, and 2019, 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. As of December 31, 2021, there was $28 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 1.4 years associated with future employee service. Stock Options There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 0.4 million at December 31, 2021 and 0.5 million at December 31, 2020. Proceeds received from stock options exercised under the Plans for the years ended December 31, 2021, 2020, and 2019 were $3 million, $2 million, and $5 million, respectively. No compensation cost related to stock options was incurred during the years ended December 31, 2021, 2020, and 2019. 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 Upon vesting of restricted stock awards, the participant is required to pay the related tax withholding obligation. The Company reduces 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, 2021, 2020, and 2019, the Company withheld 418,000, 298,000, and 162,000 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, 2021 (units in thousands): Restricted Weighted Unvested at January 1, 2021 1,683 $ 32.02 Granted 963 29.62 Vested (924) 26.39 Forfeited (30) 32.56 Unvested at December 31, 2021 1,692 33.72

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company’s reportable segments, based on how its chief operating decision makers (“CODMs”) evaluate the business and allocate resources, are as follows: (i) life science, (ii) medical office, and (iii) CCRC . The Company has non-reportable segments that are comprised primarily of the Company’s interests in the SWF SH JV and debt investments. The accounting policies of the segments are the same as those described in the Company’s Summary of Significant Accounting Policies (see Note 2). The Company evaluates performance based on property Adjusted NOI. NOI is defined as real estate revenues (inclusive of rental and related revenues, resident fees and services, income from direct financing leases, and government grant income and exclusive of interest income), less property level operating expenses; 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 include the Company’s share of income (loss) from unconsolidated joint ventures and exclude noncontrolling interests’ share of income (loss) from consolidated joint ventures. Management believes that Adjusted NOI is an important supplemental measure because it provides relevant and useful information by reflecting only income and operating expense items that are incurred at the property level and presenting it on an unlevered basis. Additionally, management believes that net income (loss) is the most directly comparable GAAP measure to NOI and Adjusted NOI. NOI and Adjusted NOI should not be viewed as alternative measures of operating performance to net income (loss) as defined by GAAP since they do not reflect various excluded items. 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, loans receivable, marketable equity securities, other assets, real estate assets held for sale and discontinued operations, and liabilities related to assets held for sale. The following tables summarize information for the reportable segments (in thousands): For the year ended December 31, 2021: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 715,844 $ 671,242 $ 471,325 $ 37,773 $ — $ 1,896,184 Government grant income (1) — — 1,412 — — 1,412 Less: Interest income — — — (37,773) — (37,773) Healthpeak's share of unconsolidated joint venture total revenues 5,757 2,882 6,903 67,835 — 83,377 Healthpeak's share of unconsolidated joint venture government grant income — — 200 1,549 — 1,749 Noncontrolling interests' share of consolidated joint venture total revenues (292) (35,363) — — — (35,655) Operating expenses (169,044) (223,383) (380,865) 13 — (773,279) Healthpeak's share of unconsolidated joint venture operating expenses (1,836) (1,174) (6,639) (51,866) — (61,515) Noncontrolling interests' share of consolidated joint venture operating expenses 87 10,071 — — — 10,158 Adjustments to NOI (2) (46,589) (11,118) 3,241 (47) — (54,513) Adjusted NOI 503,927 413,157 95,577 17,484 — 1,030,145 Plus: Adjustments to NOI (2) 46,589 11,118 (3,241) 47 — 54,513 Interest income — — — 37,773 — 37,773 Interest expense (232) (2,837) (7,701) — (147,210) (157,980) Depreciation and amortization (303,196) (255,746) (125,344) — — (684,286) General and administrative — — — — (98,303) (98,303) Transaction costs (24) (323) (1,445) (49) — (1,841) Impairments and loan loss reserves, net — (21,577) — (1,583) — (23,160) Gain (loss) on sales of real estate, net — 190,590 — — — 190,590 Gain (loss) on debt extinguishments — — — — (225,824) (225,824) Other income (expense), net 55 (2,725) 2,141 486 6,309 6,266 Less: Government grant income — — (1,412) — — (1,412) Less: Healthpeak's share of unconsolidated joint venture NOI (3,921) (1,708) (464) (17,518) — (23,611) Plus: Noncontrolling interests' share of consolidated joint venture NOI 205 25,292 — — — 25,497 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 243,403 355,241 (41,889) 36,640 (465,028) 128,367 Income tax benefit (expense) — — — — 3,261 3,261 Equity income (loss) from unconsolidated joint ventures 1,118 794 1,484 2,704 — 6,100 Income (loss) from continuing operations 244,521 356,035 (40,405) 39,344 (461,767) 137,728 Income (loss) from discontinued operations — — — — 388,202 388,202 Net income (loss) $ 244,521 $ 356,035 $ (40,405) $ 39,344 $ (73,565) $ 525,930 _______________________________________ (1) Represents government grant income received under the CARES Act, which is recorded in other income (expense), net in the Consolidated Statements of Operations (see Note 2). (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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures. For the year ended December 31, 2020: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 569,296 $ 622,398 $ 436,494 $ 16,687 $ — $ 1,644,875 Government grant income (1) — — 16,198 — — 16,198 Less: Interest income — — — (16,553) — (16,553) Healthpeak's share of unconsolidated joint venture total revenues 448 2,772 35,392 74,023 — 112,635 Healthpeak's share of unconsolidated joint venture government grant income — — 920 359 — 1,279 Noncontrolling interests' share of consolidated joint venture total revenues (239) (34,597) — — — (34,836) Operating expenses (138,005) (204,008) (440,528) — — (782,541) Healthpeak's share of unconsolidated joint venture operating expenses (137) (1,129) (32,125) (53,779) — (87,170) Noncontrolling interests' share of consolidated joint venture operating expenses 72 10,282 — — — 10,354 Adjustments to NOI (2) (20,133) (5,544) 97,072 433 — 71,828 Adjusted NOI 411,302 390,174 113,423 21,170 — 936,069 Plus: Adjustments to NOI (2) 20,133 5,544 (97,072) (433) — (71,828) Interest income — — — 16,553 — 16,553 Interest expense (234) (400) (7,227) — (210,475) (218,336) Depreciation and amortization (217,921) (222,165) (113,851) (12) — (553,949) General and administrative — — — — (93,237) (93,237) Transaction costs (236) — (17,994) (112) — (18,342) Impairments and loan loss reserves, net (14,671) (10,208) — (18,030) — (42,909) Gain (loss) on sales of real estate, net — 90,390 — (40) — 90,350 Gain (loss) on debt extinguishments — — — — (42,912) (42,912) Other income (expense), net — — 187,844 41,707 5,133 234,684 Less: Government grant income — — (16,198) — — (16,198) Less: Healthpeak's share of unconsolidated joint venture NOI (311) (1,643) (4,187) (20,603) — (26,744) Plus: Noncontrolling interests' share of consolidated joint venture NOI 167 24,315 — — — 24,482 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 198,229 276,007 44,738 40,200 (341,491) 217,683 Income tax benefit (expense) (3) — — — — 9,423 9,423 Equity income (loss) from unconsolidated joint ventures (40) 798 (1,547) (65,810) — (66,599) Income (loss) from continuing operations 198,189 276,805 43,191 (25,610) (332,068) 160,507 Income (loss) from discontinued operations — — — — 267,746 267,746 Net income (loss) $ 198,189 $ 276,805 $ 43,191 $ (25,610) $ (64,322) $ 428,253 _______________________________________ (1) Represents government grant income received under the CARES Act, which is recorded in other income (expense), net in the Consolidated Statements of Operations (see Note 2). (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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures. (3) Income tax benefit (expense) for the year ended December 31, 2020 includes: (i) a $51 million tax benefit recognized in conjunction with internal restructuring activities, which resulted in the transfer of assets subject to certain deferred tax liabilities from taxable REIT subsidiaries to the REIT in connection with the 2019 MTCA (see Note 3), (ii) a $33 million income tax expense related to the valuation allowance on deferred tax assets that are no longer expected to be realized (see Note 17), and (iii) a $3.7 million net tax benefit recognized due to changes under the CARES Act, which resulted in net operating losses being utilized at a higher income tax rate than previously available. For the year ended December 31, 2019: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 440,784 $ 621,171 $ 3,010 $ 175,374 $ — $ 1,240,339 Less: Interest income — — — (9,844) — (9,844) Healthpeak's share of unconsolidated joint venture total revenues — 2,810 211,377 23,834 — 238,021 Noncontrolling interests' share of consolidated joint venture total revenues (187) (33,998) — 2,355 — (31,830) Operating expenses (107,472) (201,620) (2,215) (93,937) — (405,244) Healthpeak's share of unconsolidated joint venture operating expenses — (1,107) (170,473) (1,996) — (173,576) Noncontrolling interests' share of consolidated joint venture operating expenses 59 10,109 — (1,536) — 8,632 Adjustments to NOI (1) (22,103) (4,602) 16,985 (5,449) — (15,169) Adjusted NOI 311,081 392,763 58,684 88,801 — 851,329 Plus: Adjustments to NOI (1) 22,103 4,602 (16,985) 5,449 — 15,169 Interest income — — — 9,844 — 9,844 Interest expense (277) (434) — — (216,901) (217,612) Depreciation and amortization (168,339) (221,175) — (45,677) — (435,191) General and administrative — — — — (92,966) (92,966) Transaction costs — — — — (1,963) (1,963) Impairments and loan loss reserves, net — (17,332) — (376) — (17,708) Gain (loss) on sales of real estate, net 3,651 3,139 — (6,830) — (40) Gain (loss) on debt extinguishments — — — — (58,364) (58,364) Other income (expense), net — — (5,665) 161,886 8,848 165,069 Less: Healthpeak's share of unconsolidated joint venture NOI — (1,703) (40,904) (21,838) — (64,445) Plus: Noncontrolling interests' share of consolidated joint venture NOI 128 23,889 — (819) — 23,198 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 168,347 183,749 (4,870) 190,440 (361,346) 176,320 Income tax benefit (expense) — — — — 5,479 5,479 Equity income (loss) from unconsolidated joint ventures — 858 (16,313) 9,125 — (6,330) Income (loss) from continuing operations 168,347 184,607 (21,183) 199,565 (355,867) 175,469 Income (loss) from discontinued operations — — — — (115,408) (115,408) Net income (loss) $ 168,347 $ 184,607 $ (21,183) $ 199,565 $ (471,275) $ 60,061 _______________________________________ (1) 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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures. The following table summarizes the Company’s revenues by segment (in thousands): Year Ended December 31, Segments 2021 2020 2019 Life science $ 715,844 $ 569,296 $ 440,784 Medical office 671,242 622,398 621,171 CCRC 471,325 436,494 3,010 Other non-reportable 37,773 16,687 175,374 Total revenues $ 1,896,184 $ 1,644,875 $ 1,240,339 The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segment 2021 2020 Life science $ 8,257,990 $ 7,205,949 Medical office 6,152,512 5,197,777 CCRC 2,233,377 2,179,294 Reportable segment assets 16,643,879 14,583,020 Accumulated depreciation and amortization (3,125,416) (2,658,890) Net reportable segment assets 13,518,463 11,924,130 Other non-reportable segment assets 794,172 584,432 Assets held for sale and discontinued operations, net 37,190 2,626,306 Other non-segment assets 907,694 785,221 Total assets $ 15,257,519 $ 15,920,089 See Notes 3, 4, 5, 6, 7 and 8 for significant transactions impacting the Company's segment assets during the periods presented. At December 31, 2021 and 2020, goodwill of $18 million, excluding goodwill relating to assets classified as discontinued operations,

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
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 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 17. Certain REIT entities are also subject to state, local and foreign income taxes. Distributions with respect to the Company’s 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 the Company’s annual common stock distributions per share: Year Ended December 31, 2021 2020 2019 Ordinary dividends (1) $ 0.1523 $ 0.7139 $ 0.7633 Capital gains (2) 0.3800 0.5298 0.2714 Nondividend distributions 0.6677 0.2363 0.4453 $ 1.2000 $ 1.4800 $ 1.4800 _______________________________________ (1) For the year ended December 31, 2021 the amount includes $0.1370 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.0153 of qualified dividend income for purposes of Code Section 1(h)(11). For the years ended December 31, 2020 and 2019, all $0.7139 and $0.7633, respectively, of ordinary dividends qualified as business income for purposes of Code Section 199A. (2) Pursuant to Treasury Regulation §1.1061-6(c), the Company is disclosing additional information related to the capital gain dividends for purposes of Section 1061 of the Code. Code Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.” The “One Year Amounts” and “Three Year Amounts” required to be disclosed are both zero with respect to the 2021 distributions, since all capital gains relate to Code Section 1231 gains. The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2021, 2020, and 2019 was $134 million, $151 million, and $170 million, respectively, of which $150 million, $80 million, and $200 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $(16) million, $71 million, and $(30) million for the years ended December 31, 2021, 2020, and 2019, respectively. The total income tax expense (benefit) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2021 2020 2019 Current Federal $ 126 $ (9,164) $ 104 State 1,003 1,431 445 Total current $ 1,129 $ (7,733) $ 549 Deferred Federal $ (3,469) $ (2,849) $ (5,920) State (921) 1,159 (108) Total deferred $ (4,390) $ (1,690) $ (6,028) Total income tax expense (benefit) from continuing operations $ (3,261) $ (9,423) $ (5,479) The Company’s income tax benefit from discontinued operations was $1 million, $10 million, and $12 million for the years ended December 31, 2021, 2020, and 2019, respectively (see Note 5). The following table reconciles income tax expense (benefit) from continuing operations at statutory rates to actual income tax expense (benefit) recorded (in thousands): Year Ended December 31, 2021 2020 2019 Tax expense (benefit) at U.S. federal statutory income tax rate on income or loss subject to tax $ (3,345) $ 15,016 $ (6,169) State income tax expense (benefit), net of federal tax (706) 4,211 (1,830) Gross receipts and margin taxes 989 980 1,108 Effect of permanent differences — — 20 Return to provision adjustments 4 707 54 Valuation allowance for deferred tax assets (203) 24,051 22 Tax rate differential ─ NOL carryback under the CARES Act — (3,732) — Change in tax status of TRS — (50,656) 1,316 Total income tax expense (benefit) from continuing operations $ (3,261) $ (9,423) $ (5,479) 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, 2021 2020 2019 Deferred tax assets: Investment in unconsolidated joint ventures $ — $ 2,333 $ 40,466 Real estate 129 3,895 — Net operating loss carryforward 71,744 68,444 33,771 Expense accruals 14,229 15,478 3,258 Deferred revenue 104,397 103,713 — Total deferred tax assets 190,499 193,863 77,495 Valuation allowance (35,772) (33,519) (4,878) Deferred tax assets, net of valuation allowance $ 154,727 $ 160,344 $ 72,617 Deferred tax liabilities: Real estate $ 61,097 $ 72,059 $ — Other 648 1,094 — Deferred tax liabilities $ 61,745 $ 73,153 $ — Net deferred tax assets $ 92,982 $ 87,191 $ 72,617 Net deferred tax assets are included in other assets, net on the Consolidated Balance Sheets. The Company records a valuation allowance against deferred tax assets in certain jurisdictions when it is not more likely than not that it can realize the related deferred tax assets. 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. In conjunction with the Company establishing a plan during the year ended December 31, 2020 to dispose of all of its SHOP assets and classifying such assets as discontinued operations (see Note 5), the Company concluded it was more likely than not that it would no longer realize the future value of certain deferred tax assets generated by the net operating losses of its TRS entities. Accordingly, the Company recognized a deferred tax asset valuation allowance and corresponding income tax expense of $33 million during the year ended December 31, 2020. As of December 31, 2021, the Company had a deferred tax asset valuation allowance of $36 million. At December 31, 2021, the Company had a net operating loss (“NOL”) carryforward of $288 million related to the TRS entities. If unused, $22 million will begin to expire in 2035. The remainder, totaling $266 million, may be carried forward indefinitely. The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2021 2020 2019 Total unrecognized tax benefits at January 1 $ 469 $ 469 $ — Gross amount of increases for prior years' tax positions — — 469 Total unrecognized tax benefits at December 31 $ 469 $ 469 $ 469 The Company had unrecognized tax benefits of $0.5 million at December 31, 2021, 2020, and 2019 that, if recognized, would reduce the annual effective tax rate. As of December 31, 2021, the Company accrued interest of $102 thousand related to the unrecognized tax benefits. 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 2018.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Supplemental cash flow information: Interest paid, net of capitalized interest $ 173,044 $ 209,843 $ 201,784 Income taxes paid (refunded) 4,521 (786) 1,426 Capitalized interest 24,084 27,041 30,459 Cash paid for amounts included in the measurement of lease liability for operating leases 10,620 9,940 8,158 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 28,866 32,208 5,733 Decrease in ROU asset with corresponding change in lease liability related to operating leases 8,410 — — Seller financing provided on disposition of real estate asset 559,745 73,498 44,812 Accrued construction costs 179,995 95,293 126,006 Net noncash impact from the consolidation of previously unconsolidated joint ventures — 369,223 17,850 Refundable entrance fees assumed with real estate acquisitions — 307,954 — Retained investment in connection with SWF SH JV — — 427,328 Conversion of DFLs to real estate — — 350,540 Carrying value of mortgages assumed by buyer in real estate dispositions 143,676 — — Mortgages assumed with real estate acquisitions — 251,280 172,565 Vesting of restricted stock units and conversion of non-managing member units into common stock 1,125 4,746 5,614 See Note 3 for discussion of the impact of the 2019 MTCA with Brookdale and Note 7 for discussion of the conversion of DFLs to real estate and the impact on the Company’s Consolidated Balance Sheets and Statements of Operations. The following table summarizes certain cash flow information related to assets classified as discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Depreciation and amortization of real estate, in-place lease, and other intangibles $ — $ 143,194 $ 224,798 Development, redevelopment, and other major improvements of real estate 5,780 30,769 74,919 Leasing costs, tenant improvements, and recurring capital expenditures 2,636 12,695 22,617 The following table summarizes cash, cash equivalents and restricted cash (in thousands): Year Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 Continuing operations Discontinued operations Total Beginning of year: Cash and cash equivalents $ 44,226 $ 80,398 $ 53,979 $ 53,085 $ 63,834 $ 56,811 $ 97,311 $ 144,232 $ 110,790 Restricted cash 67,206 13,385 7,166 17,168 27,040 21,890 84,374 40,425 29,056 Cash, cash equivalents and restricted cash $ 111,432 $ 93,783 $ 61,145 $ 70,253 $ 90,874 $ 78,701 $ 181,685 $ 184,657 $ 139,846 End of year: Cash and cash equivalents $ 158,287 $ 44,226 $ 80,398 $ 7,707 $ 53,085 $ 63,834 $ 165,994 $ 97,311 $ 144,232 Restricted cash 53,454 67,206 13,385 — 17,168 27,040 53,454 84,374 40,425 Cash, cash equivalents and restricted cash $ 211,741 $ 111,432 $ 93,783 $ 7,707 $ 70,253 $ 90,874 $ 219,448 $ 181,685 $ 184,657

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2021
Variable Interest Entities
Variable Interest Entities	Variable Interest Entities Unconsolidated Variable Interest Entities At December 31, 2021, the Company had investments in: (i) two unconsolidated VIE joint ventures and (ii) marketable debt securities of one VIE. At December 31, 2020, the Company had investments in: (i) two properties leased to a VIE tenant, (ii) four 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 (the LLC investment and Needham Land Parcel JV discussed below), it has no formal involvement in these VIEs beyond its investments. 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. These securities are classified as held-to-maturity because the Company has the intent and ability to hold the securities until maturity. 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). Needham Land Parcel JV. In December 2021, the Company acquired a 38% interest in a life science development joint venture in Needham, Massachusetts for $13 million. Current equity at risk is not sufficient to finance the joint venture’s activities. The assets and liabilities of the entity primarily consist of real estate and debt service obligations. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development expenses and debt service payments). Loan Receivable. The Company provided seller financing 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. In September 2021, the Company sold this loan receivable (see Note 8). VIE Tenant. As of December 31, 2020, the Company leased two properties to one tenant that was identified as a VIE (the “VIE tenant”). The VIE tenant was a “thinly capitalized” entity that relied on the operating cash flows generated from the senior housing facilities to pay operating expenses, including the rent obligations under its leases. In June 2021, the Company sold these two properties as part of the Sunrise Senior Housing Portfolio (see Note 5). CCRC OpCo. As of December 31, 2020, the Company held a 49% ownership interest in CCRC OpCo, a joint venture entity formed in August 2014 that operated senior housing properties and had been identified as a VIE. The equity members of CCRC OpCo “lacked power” because they shared certain operating rights with Brookdale, as manager of the CCRCs. The assets of CCRC OpCo primarily consisted of the CCRCs that it owned and leased, resident fees receivable, notes receivable, and cash and cash equivalents; its obligations primarily consisted of operating lease obligations to CCRC PropCo, debt service payments, capital expenditures, accounts payable, and expense accruals. Assets generated by the operations of CCRC OpCo (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 additional discussion related to transactions impacting CCRC OpCo. In May 2021, the CCRC JV sold the two remaining CCRCs. Development Investments. As of December 31, 2020, the Company held investments (consisting of mezzanine debt and/or preferred equity) in two senior housing development joint ventures. The joint ventures were also capitalized by senior loans from a third party and equity from the third party managing-member, but were considered to be “thinly capitalized” as there was insufficient equity investment at risk. In April 2021, the Company sold two mezzanine loans and two preferred equity investments as part of the Discovery SHOP Portfolio disposition (see Note 5). 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, 2021 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) Continuing operations: CMBS and LLC investment Other assets, net $ 36,101 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 13,566 _______________________________________ (1) The Company’s maximum loss exposure represents the aggregate carrying amount of such investments (including accrued interest). As of December 31, 2021, the Company had not provided, and is not required to provide, financial support through a liquidity arrangement or otherwise, to its unconsolidated VIEs, including under circumstances in which it could be exposed to further losses (e.g., cash shortfalls). See Notes 3, 4, 8, and 9 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, 2021 and 2020 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. 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). 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). Refer to Note 13 for a discussion of certain put options associated with the Life Science JVs. 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”). 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 leased certain senior housing properties to lessee entities under cash flow leases through which the Company received monthly rent equal to the residual cash flows of the properties. The lessee entities were classified as VIEs as they were "thinly capitalized" entities. The Company consolidated the lessee entities as it had the ability to control the activities that most significantly impacted the economic performance of the lessee entities. The lessee entities’ assets primarily consisted of leasehold interests in senior housing facilities (operating leases), resident fees receivable, and cash and cash equivalents; its obligations primarily consisted of lease payments to the Company and operating expenses of the senior housing facilities (accounts payable and accrued expenses). Assets generated by the senior housing operations (primarily from senior housing resident rents) could only be used to settle contractual obligations (primarily from the rental costs, operating expenses incurred to manage such facility and debt costs). During the year ended December 31, 2021, the Company sold these senior housing properties. 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). Exchange Accommodation Titleholder. During the year ended December 31, 2021, the Company acquired two MOBs (the “acquired properties”) using reverse like-kind exchange structures pursuant to Section 1031 of the Code (a “reverse 1031 exchange”). As of December 31, 2021, the Company had not completed the reverse 1031 exchanges and as such, the acquired properties remained in the possession of Exchange Accommodation Titleholders (“EATs”). The EATs were classified as VIEs as they were “thinly capitalized” entities. The Company consolidated the EATs because it had the ability to control the activities that most significantly impacted the economic performance of the EATs and was, therefore, the primary beneficiary of the EATs. The properties held by the EATs were reflected as real estate with a carrying value of $77 million as of December 31, 2021. The assets of the EATs primarily consisted of leased properties (net real estate, including intangibles), rents receivable, and cash and cash equivalents; their obligations primarily consisted of capital expenditures for the properties. Assets generated by the EATs may only be used to settle its contractual obligations (primarily from capital expenditures). Additionally, during the year ended December 31, 2020, the Company acquired seven MOBs, one hospital, and three life science facilities (the “acquired properties”) using reverse 1031 exchanges. As of December 31, 2020, the Company had not completed the reverse 1031 exchanges and as such, the acquired properties remained in the possession of EATs. The properties held by the EATs were reflected as real estate with a carrying value of $813 million as of December 31, 2020. The reverse 1031 exchanges described above were completed in April 2021. Total assets and total liabilities include VIE assets and liabilities as follows (in thousands): December 31, 2021 2020 Assets Buildings and improvements $ 2,303,920 $ 2,988,599 Development costs and construction in progress 82,303 85,595 Land 548,168 433,574 Accumulated depreciation and amortization (551,097) (602,491) Net real estate 2,383,294 2,905,277 Accounts receivable, net 5,455 12,009 Cash and cash equivalents 22,295 16,550 Restricted cash 114 7,977 Intangible assets, net 117,180 179,027 Assets held for sale and discontinued operations, net 754 704,966 Right-of-use asset, net 107,993 95,407 Other assets, net 62,886 59,063 Total assets $ 2,699,971 $ 3,980,276 Liabilities Mortgage debt $ 144,350 $ 39,085 Intangible liabilities, net 23,909 56,467 Liabilities related to assets held for sale and discontinued operations, net 1,677 190,919 Lease liability 99,213 97,605 Accounts payable, accrued liabilities, and other liabilities 58,440 102,391 Deferred revenue 21,546 90,183 Total liabilities $ 349,135 $ 576,650 Total assets and liabilities related to assets held for sale and discontinued operations include VIE assets and liabilities as follows (in thousands): December 31, 2021 2020 Assets Buildings and improvements $ — $ 639,759 Development costs and construction in progress — 68 Land — 106,209 Accumulated depreciation and amortization — (57,235) Net real estate — 688,801 Accounts receivable, net 62 1,700 Cash and cash equivalents 59 6,306 Restricted cash — 3,124 Right-of-use asset, net — 1,391 Other assets, net 633 3,644 Total assets $ 754 $ 704,966 Liabilities Mortgage debt $ — $ 176,702 Lease liability — 1,392 Accounts payable, accrued liabilities, and other liabilities 1,677 11,003 Deferred revenue — 1,822 Total liabilities $ 1,677 $ 190,919

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk Concentrations of credit risk arise when one or more tenants, operators, or obligors related to the Company’s investments are engaged in similar business activities or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. The Company regularly monitors various segments of its portfolio to assess potential concentrations of credit risks. The following 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, excluding assets classified as discontinued operations: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2021 2020 2021 2020 2019 California 34 30 28 21 22 Florida 11 10 17 14 2 Texas 10 9 11 9 11 Massachusetts 16 11 9 4 2 The Company’s rental revenue is generated from multiple tenants across its diverse portfolio; as a result, the inability of any single tenant to make its lease payments is unlikely to have a significant financial impact on the Company’s operations. As of December 31, 2021, the Company’s largest tenant in its life science and medical office segments accounted for 3% and 8%, respectively, of the Company’s total revenues.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
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 were immaterial at December 31, 2021 and 2020. The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2021 (3) 2020 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 415,811 $ 437,607 $ 195,375 $ 201,228 Marketable debt securities (2) 21,003 21,003 20,355 20,355 Interest rate cap assets (2) 397 397 — — Bank line of credit and commercial paper (2) 1,165,975 1,165,975 129,590 129,590 Term loan (2) — — 249,182 249,182 Senior unsecured notes (1) 4,651,933 5,054,747 5,697,586 6,517,650 Mortgage debt (2)(4) 352,081 352,800 221,621 221,181 Interest rate swap liabilities (2)(5) — — 81 81 _______________________________________ (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, swaps, and caps, standardized pricing models in which significant inputs or value drivers are observable in active markets. For bank line of credit, commercial paper, and term loan, 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, 2021 and 2020, there were no material transfers of financial assets or liabilities within the fair value hierarchy. (4) As of December 31, 2020, excludes mortgage debt on assets held for sale and discontinued operations of $319 million. (5) Interest rate swap liabilities are recorded in liabilities related to assets held for sale and discontinued operations, net on the Consolidated Balance Sheets.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments 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. In April 2021, the Company executed two interest rate cap agreements on its mortgage debt issued in conjunction with the acquisition of the MOB Portfolio (see Note 4). The following table summarizes the Company’s outstanding interest rate cap agreements as of December 31, 2021 (in thousands): Date Entered Maturity Date Hedge Designation Notional Strike Rate Index Fair Value (1) April 2021 (2) May 2024 Non-designated $ 142,100 2.00 % 1 mo. USD-LIBOR-BBA $ 397 _____________________________ (1) Derivative assets are recorded in other assets, net in the Consolidated Balance Sheets. (2) Represents two interest rate cap agreements that manage the Company’s exposure to variable cash flows on certain mortgage debt borrowings by limiting interest rates. In March 2021, the Company repaid $39 million of variable rate secured debt on two SHOP assets and terminated the two remaining related interest rate swap contracts. Therefore, at December 31, 2021, the Company had no remaining interest rate swap contracts. In conjunction with the sale of the Aegis NNN Portfolio (see Note 5) in December 2020, the Company paid off $6 million of variable rate secured debt and terminated the related interest rate swap contract. Concurrent with the sale of its interest in the U.K. JV in December 2019 (see Note 9), the Company paid-off the remainder of its GBP-denominated borrowings under the Revolving Facility and terminated its previously-designated net investment hedge.

Accounts Payable, Accrued Liabi

Accounts Payable, Accrued Liabilities, and Other Liabilities	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities	Accounts Payable, Accrued Liabilities, and Other Liabilities The following table summarizes the Company’s accounts payable, accrued liabilities, and other liabilities, excluding accounts payable, accrued liabilities, and other liabilities related to assets classified as discontinued operations (in thousands): December 31, 2021 2020 Refundable entrance fees (1) $ 288,409 $ 317,444 Accrued construction costs 179,995 95,293 Accrued interest 59,342 78,735 Other accounts payable, and accrued liabilities 227,638 269,145 Accounts payable, accrued liabilities, and other liabilities $ 755,384 $ 760,617 _______________________________________ (1) At December 31, 2021 and 2020, unamortized nonrefundable entrance fee liabilities were

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) The following tables summarize selected quarterly information for the years ended December 31, 2021 and 2020 (in thousands, except per share amounts): Three Months Ended 2021 March 31 June 30 September 30 December 31 Total revenues $ 455,276 $ 476,238 $ 481,465 $ 483,205 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures (121,900) 166,435 58,329 25,503 Income (loss) from continuing operations (120,585) 168,065 61,305 28,943 Income (loss) from discontinued operations 270,008 113,960 601 3,633 Net income (loss) 149,423 282,025 61,906 32,576 Net income (loss) applicable to Healthpeak Properties, Inc. 145,788 276,280 54,711 28,761 Dividends paid per common share 0.30 0.30 0.30 0.30 Basic earnings (loss) per common share: Continuing operations (0.23) 0.30 0.10 0.05 Discontinued operations 0.50 0.21 0.00 0.00 Diluted earnings (loss) per common share: Continuing operations (0.23) 0.30 0.10 0.05 Discontinued operations 0.50 0.21 0.00 0.00 Three Months Ended 2020 March 31 June 30 September 30 December 31 Total revenues $ 381,054 $ 408,559 $ 423,565 $ 431,697 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 128,410 78,182 13,957 (2,866) Income (loss) from continuing operations 147,132 60,341 (27,762) (19,204) Income (loss) from discontinued operations 135,408 (5,292) (31,819) 169,449 Net income (loss) 282,540 55,049 (59,581) 150,245 Net income (loss) applicable to Healthpeak Properties, Inc. 279,080 51,506 (63,417) 146,394 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings (loss) per common share: Continuing operations 0.28 0.10 (0.06) (0.04) Discontinued operations 0.27 (0.01) (0.06) 0.31 Diluted earnings (loss) per common share: Continuing operations 0.28 0.10 (0.06) (0.04) Discontinued operations 0.26 (0.01) (0.06) 0.31

Schedule II_ Valuation and Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II: Valuation and Qualifying Accounts	Schedule II: Valuation and Qualifying Accounts (In thousands) Allowance Accounts (1) Additions Year Ended Balance at Amounts Acquired Deductions (2) Balance at Continuing operations: 2021 $ 3,994 $ — $ — $ (2,124) $ 1,870 2020 387 76 3,531 — 3,994 2019 146 (146) 387 — 387 Discontinued operations: 2021 $ 5,873 $ 46 $ — $ (1,781) $ 4,138 2020 4,178 1,026 175 494 5,873 2019 2,255 1,695 928 (700) 4,178 _______________________________________ (1) Includes allowance for doubtful accounts and straight-line rent reserves. Excludes reserves for loan losses which are disclosed in Note 8 to the Consolidated Financial Statements.

Schedule III_ Real Estate and A

Schedule III: Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III: Real Estate and Accumulated Depreciation	Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) Continuing operations: Life science 1483 Brisbane CA $ — $ 8,498 $ 500 $ 77,109 $ 8,498 $ 77,609 $ 86,107 $ — 2007 1484 Brisbane CA — 11,331 689 153,367 11,331 154,056 165,387 — 2007 1485 Brisbane CA — 11,331 600 136,814 11,331 137,414 148,745 (392) 2007 1486 Brisbane CA — 11,331 — 135,352 11,331 135,352 146,683 (11,031) 2020 1487 Brisbane CA — 8,498 — 76,328 8,498 76,328 84,826 (2,028) 2020 2874 Brisbane CA — 64,186 62,318 17,425 64,186 79,119 143,305 (6,558) 2019 2875 Brisbane CA — 58,410 56,623 8,527 58,410 64,701 123,111 (6,575) 2019 1401 Hayward CA — 900 7,100 7,554 1,244 13,457 14,701 (2,959) 2007 1402 Hayward CA — 1,500 6,400 4,332 1,719 6,838 8,557 (2,326) 2007 1403 Hayward CA — 1,900 7,100 11,768 1,900 17,164 19,064 (5,572) 2007 1404 Hayward CA — 2,200 17,200 7,622 2,200 24,822 27,022 (7,250) 2007 1405 Hayward CA — 1,000 3,200 8,110 1,000 3,837 4,837 (1,270) 2007 1549 Hayward CA — 1,006 4,259 6,730 1,055 8,510 9,565 (3,242) 2007 1550 Hayward CA — 677 2,761 5,837 710 3,057 3,767 (1,915) 2007 1551 Hayward CA — 661 1,995 4,789 693 2,565 3,258 (1,428) 2007 1552 Hayward CA — 1,187 7,139 2,543 1,222 8,539 9,761 (4,519) 2007 1553 Hayward CA — 1,189 9,465 7,361 1,225 16,230 17,455 (9,976) 2007 1554 Hayward CA — 1,246 5,179 10,542 1,283 13,923 15,206 (3,628) 2007 1555 Hayward CA — 1,521 13,546 7,541 1,566 20,982 22,548 (11,751) 2007 1556 Hayward CA — 1,212 5,120 4,726 1,249 6,856 8,105 (3,730) 2007 1424 La Jolla CA — 9,600 25,283 33,183 9,719 52,874 62,593 (10,149) 2007 1425 La Jolla CA — 6,200 19,883 1,661 6,276 21,369 27,645 (8,215) 2007 1426 La Jolla CA — 7,200 12,412 14,394 7,286 23,357 30,643 (11,497) 2007 1427 La Jolla CA — 8,700 16,983 8,794 8,767 22,804 31,571 (10,536) 2007 1949 La Jolla CA — 2,686 11,045 18,054 2,686 28,565 31,251 (5,028) 2011 2229 La Jolla CA — 8,753 32,528 10,755 8,777 42,811 51,588 (11,027) 2014 1470 Poway CA — 5,826 12,200 6,048 5,826 12,541 18,367 (4,462) 2007 1471 Poway CA — 5,978 14,200 4,253 5,978 14,200 20,178 (5,118) 2007 1472 Poway CA — 8,654 — 11,906 8,654 11,906 20,560 (2,911) 2007 1473 Poway CA — 11,024 2,405 26,607 11,024 29,012 40,036 (7,448) 2019 1474 Poway CA — 5,051 — 19,939 5,051 19,939 24,990 (2,974) 2019 1475 Poway CA — 5,655 — 10,302 5,655 10,302 15,957 (322) 2020 1478 Poway CA — 6,700 14,400 6,145 6,700 14,400 21,100 (5,190) 2007 1499 Redwood City CA — 3,400 5,500 3,378 3,407 7,252 10,659 (3,015) 2007 1500 Redwood City CA — 2,500 4,100 1,695 2,506 5,033 7,539 (2,098) 2007 1501 Redwood City CA — 3,600 4,600 2,331 3,607 6,487 10,094 (2,496) 2007 1502 Redwood City CA — 3,100 5,100 1,618 3,107 6,347 9,454 (2,696) 2007 1503 Redwood City CA — 4,800 17,300 10,013 4,818 25,528 30,346 (6,998) 2007 1504 Redwood City CA — 5,400 15,500 11,976 5,418 27,441 32,859 (9,043) 2007 1505 Redwood City CA — 3,000 3,500 4,250 3,006 7,275 10,281 (2,207) 2007 1506 Redwood City CA — 6,000 14,300 14,666 6,018 28,323 34,341 (12,058) 2007 1507 Redwood City CA — 1,900 12,800 17,220 1,912 25,715 27,627 (8,456) 2007 1508 Redwood City CA — 2,700 11,300 22,736 2,712 28,461 31,173 (6,318) 2007 1509 Redwood City CA — 2,700 10,900 10,476 2,712 16,114 18,826 (7,618) 2007 1510 Redwood City CA — 2,200 12,000 10,584 2,212 18,386 20,598 (6,171) 2007 1511 Redwood City CA — 2,600 9,300 21,480 2,612 30,157 32,769 (6,711) 2007 1512 Redwood City CA — 3,300 18,000 13,420 3,300 31,392 34,692 (14,828) 2007 1513 Redwood City CA — 3,300 17,900 15,835 3,326 29,842 33,168 (13,568) 2007 678 San Diego CA — 2,603 11,051 3,341 2,603 14,392 16,995 (6,112) 2002 679 San Diego CA — 5,269 23,566 32,229 5,669 52,094 57,763 (18,818) 2002 837 San Diego CA — 4,630 2,028 9,147 4,630 5,240 9,870 (2,019) 2006 838 San Diego CA — 2,040 903 5,268 2,040 4,217 6,257 (1,095) 2006 839 San Diego CA — 3,940 3,184 7,320 4,046 5,951 9,997 (1,814) 2006 840 San Diego CA — 5,690 4,579 1,114 5,830 5,126 10,956 (2,252) 2006 1418 San Diego CA — 11,700 31,243 61,052 11,700 85,932 97,632 (9,191) 2007 1419 San Diego CA — 2,324 — 29,811 2,324 29,811 32,135 — 2007 1420 San Diego CA — 4,200 — 33,662 4,200 33,662 37,862 — 2007 1421 San Diego CA — 7,000 33,779 1,209 7,000 34,988 41,988 (13,228) 2007 1422 San Diego CA — 7,179 3,687 5,174 7,336 8,661 15,997 (4,864) 2007 1423 San Diego CA — 8,400 33,144 32,176 8,400 65,312 73,712 (14,492) 2007 1514 San Diego CA — 5,200 — — 5,200 — 5,200 — 2007 1558 San Diego CA — 7,740 22,654 21,623 7,888 40,559 48,447 (22,683) 2007 1947 San Diego CA — 2,581 10,534 4,444 2,581 14,979 17,560 (6,253) 2011 1948 San Diego CA — 5,879 25,305 9,844 5,879 32,844 38,723 (9,683) 2011 2197 San Diego CA — 7,621 3,913 8,761 7,626 11,372 18,998 (5,189) 2007 2476 San Diego CA — 7,661 9,918 13,711 7,661 23,629 31,290 (1,384) 2016 2477 San Diego CA — 9,207 14,613 6,641 9,207 21,254 30,461 (5,140) 2016 2478 San Diego CA — 6,000 — 16,650 6,000 16,650 22,650 — 2016 2617 San Diego CA — 2,734 5,195 16,693 2,734 21,888 24,622 (4,899) 2017 2618 San Diego CA — 4,100 12,395 22,854 4,100 35,249 39,349 (6,078) 2017 2622 San Diego CA — — — 17,025 — 17,025 17,025 (792) 2020 2872 San Diego CA — 10,120 38,351 1,044 10,120 39,996 50,116 (5,396) 2018 2873 San Diego CA — 6,052 14,122 1,307 6,052 15,566 21,618 (1,909) 2018 Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) 3069 San Diego CA — 7,054 7,794 19,581 7,054 27,037 34,091 (881) 2019 3110 San Diego CA — 20,543 — (31) 20,543 (31) 20,512 — 2021 1407 South San Francisco CA — 7,182 12,140 12,619 7,186 15,429 22,615 (6,797) 2007 1408 South San Francisco CA — 9,000 17,800 1,498 9,000 17,903 26,903 (10,734) 2007 1409 South San Francisco CA — 18,000 38,043 4,703 18,000 40,116 58,116 (23,924) 2007 1410 South San Francisco CA — 4,900 18,100 12,945 4,900 30,570 35,470 (10,841) 2007 1411 South San Francisco CA — 8,000 27,700 39,099 8,000 65,915 73,915 (16,138) 2007 1412 South San Francisco CA — 10,100 22,521 4,591 10,100 25,082 35,182 (9,017) 2007 1413 South San Francisco CA — 8,000 28,299 8,822 8,000 36,774 44,774 (14,040) 2007 1414 South San Francisco CA — 3,700 20,800 2,460 3,700 21,286 24,986 (8,423) 2007 1430 South San Francisco CA — 10,700 23,621 28,766 10,700 49,922 60,622 (9,642) 2007 1431 South San Francisco CA — 7,000 15,500 9,962 7,000 25,402 32,402 (7,924) 2007 1435 South San Francisco CA — 13,800 42,500 37,058 13,800 79,558 93,358 (30,980) 2008 1436 South San Francisco CA — 14,500 45,300 36,935 14,500 82,235 96,735 (31,332) 2008 1437 South San Francisco CA — 9,400 24,800 51,675 9,400 65,204 74,604 (21,850) 2008 1439 South San Francisco CA — 11,900 68,848 550 11,900 69,398 81,298 (24,852) 2007 1440 South San Francisco CA — 10,000 57,954 400 10,000 58,355 68,355 (20,943) 2007 1441 South San Francisco CA — 9,300 43,549 8 9,300 43,557 52,857 (15,700) 2007 1442 South San Francisco CA — 11,000 47,289 179 11,000 47,386 58,386 (17,049) 2007 1443 South San Francisco CA — 13,200 60,932 2,642 13,200 62,319 75,519 (22,303) 2007 1444 South San Francisco CA — 10,500 33,776 974 10,500 34,750 45,250 (12,611) 2007 1445 South San Francisco CA — 10,600 34,083 9 10,600 34,092 44,692 (12,289) 2007 1458 South San Francisco CA — 10,900 20,900 10,873 10,909 23,645 34,554 (7,995) 2007 1459 South San Francisco CA — 9,800 400 37,120 9,800 37,126 46,926 — 2007 1462 South San Francisco CA — 7,117 600 5,892 7,117 4,706 11,823 (1,451) 2007 1463 South San Francisco CA — 10,381 2,300 20,991 10,381 20,944 31,325 (6,798) 2007 1464 South San Francisco CA — 7,403 700 11,638 7,403 7,987 15,390 (2,245) 2007 1468 South San Francisco CA — 10,100 24,013 15,570 10,100 35,828 45,928 (11,552) 2007 1480 South San Francisco CA — 32,210 3,110 50,355 32,210 53,465 85,675 — 2007 1559 South San Francisco CA — 5,666 5,773 12,970 5,695 18,645 24,340 (17,861) 2007 1560 South San Francisco CA — 1,204 1,293 2,888 1,210 3,970 5,180 (2,217) 2007 1983 South San Francisco CA — 8,648 — 96,596 8,648 96,596 105,244 (25,047) 2016 1984 South San Francisco CA — 7,845 — 93,570 7,844 93,192 101,036 (21,650) 2017 1985 South San Francisco CA — 6,708 — 122,891 6,708 122,891 129,599 (25,171) 2017 1986 South San Francisco CA — 6,708 — 108,717 6,708 108,717 115,425 (18,117) 2018 1987 South San Francisco CA — 8,544 — 100,703 8,544 100,703 109,247 (13,741) 2019 1988 South San Francisco CA — 10,120 — 120,091 10,120 120,091 130,211 (17,262) 2019 1989 South San Francisco CA — 9,169 — 100,023 9,169 100,023 109,192 (8,784) 2020 2553 South San Francisco CA — 2,897 8,691 4,951 2,897 13,642 16,539 (3,246) 2015 2554 South San Francisco CA — 995 2,754 3,090 995 5,229 6,224 (703) 2015 2555 South San Francisco CA — 2,202 10,776 2,200 2,202 12,908 15,110 (2,197) 2015 2556 South San Francisco CA — 2,962 15,108 1,107 2,962 16,215 19,177 (2,908) 2015 2557 South San Francisco CA — 2,453 13,063 3,616 2,453 16,679 19,132 (4,071) 2015 2558 South San Francisco CA — 1,163 5,925 315 1,163 6,240 7,403 (1,062) 2015 2614 South San Francisco CA — 5,079 8,584 1,731 5,083 8,949 14,032 (6,519) 2007 2615 South San Francisco CA — 7,984 13,495 3,243 7,988 14,203 22,191 (10,325) 2007 2616 South San Francisco CA — 8,355 14,121 2,368 8,358 14,809 23,167 (8,088) 2007 2624 South San Francisco CA — 25,502 42,910 13,246 25,502 55,687 81,189 (8,875) 2017 2870 South San Francisco CA — 23,297 41,797 28,649 23,297 70,446 93,743 (8,892) 2018 2871 South San Francisco CA — 20,293 41,262 21,501 20,293 62,763 83,056 (11,105) 2018 3100 South San Francisco CA — 24,062 — 577 24,062 577 24,639 — 2021 3101 South San Francisco CA — 61,189 — 833 61,189 833 62,022 — 2021 3102 South San Francisco CA — 43,885 — 376 43,885 376 44,261 — 2021 2705 Cambridge MA — 24,371 128,498 41 24,371 128,539 152,910 (4,661) 2020 2706 Cambridge MA — 15,473 149,051 8 15,473 149,059 164,532 (5,921) 2020 2707 Cambridge MA — 25,549 229,547 991 25,549 230,538 256,087 (8,323) 2020 2708 Cambridge MA — — 17,751 227 — 17,977 17,977 (483) 2020 2709 Cambridge MA — — 15,451 — — 15,451 15,451 (418) 2020 2928 Cambridge MA — 44,215 24,120 2,630 44,215 25,521 69,736 (1,851) 2019 2929 Cambridge MA — 20,517 — 54,470 20,517 54,470 74,987 — 2019 3074 Cambridge MA — 78,762 252,153 8,946 78,762 261,099 339,861 (16,278) 2019 3106 Cambridge MA — 20,669 2,970 — 20,669 2,970 23,639 (34) 2021 3107 Cambridge MA — 19,009 12,327 — 19,009 12,327 31,336 (120) 2021 3108 Cambridge MA — 123,074 7,513 — 123,074 7,513 130,587 (97) 2021 3109 Cambridge MA — 5,903 — — 5,903 — 5,903 — 2021 3112 Cambridge MA — 23,402 47,637 — 23,402 47,637 71,039 (438) 2021 3113 Cambridge MA — 35,831 — 489 35,831 489 36,320 — 2021 3114 Cambridge MA — 22,969 — (329) 22,969 (329) 22,640 — 2021 3115 Cambridge MA — 66,786 — (18) 66,786 (18) 66,768 — 2021 3119 Cambridge MA — — 29,656 — — 29,656 29,656 (157) 2021 3120 Cambridge MA — 18,050 — 16 18,050 16 18,066 — 2021 3122 Cambridge MA — 25,247 — 106 25,247 106 25,353 — 2021 3136 Cambridge MA — 4,108 — (2) 4,108 (2) 4,106 — 2021 3137 Cambridge MA — 41,314 — 89 41,314 89 41,403 — 2021 2630 Lexington MA — 16,411 49,681 606 16,411 50,288 66,699 (9,471) 2017 2631 Lexington MA — 7,759 142,081 23,120 7,759 163,483 171,242 (20,200) 2017 2632 Lexington MA — — 21,390 125,368 — 146,758 146,758 (5,828) 2020 3070 Lexington MA — 14,013 17,083 37 14,013 17,120 31,133 (1,599) 2019 3071 Lexington MA — 14,930 16,677 231 14,930 16,153 31,083 (1,192) 2019 3072 Lexington MA — 34,598 43,032 — 34,598 42,744 77,342 (4,130) 2019 3073 Lexington MA — 37,050 44,647 53 37,050 44,699 81,749 (4,398) 2019 3093 Waltham MA — 47,791 275,556 17,027 47,791 290,923 338,714 (15,528) 2020 Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) 2011 Durham NC — 448 6,152 22,660 448 23,154 23,602 (6,419) 2011 2030 Durham NC — 1,920 5,661 34,804 1,920 40,465 42,385 (14,789) 2012 9999 Denton TX — 100 — 72 100 — 100 — 2016 464 Salt Lake City UT — 630 6,921 2,562 630 9,484 10,114 (4,916) 2001 465 Salt Lake City UT — 125 6,368 68 125 6,436 6,561 (2,971) 2001 466 Salt Lake City UT — — 14,614 73 — 13,213 13,213 (4,711) 2001 799 Salt Lake City UT — — 14,600 116 — 14,716 14,716 (5,354) 2007 1593 Salt Lake City UT — — 23,998 35 — 24,033 24,033 (8,302) 2010 $ — $ 1,876,425 $ 3,412,856 $ 2,958,828 $ 1,878,851 $ 6,172,710 $ 8,051,561 $ (1,143,340) Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) Medical office 638 Anchorage AK $ — $ 1,456 $ 10,650 $ 13,322 $ 1,456 $ 21,637 $ 23,093 $ (8,880) 2006 126 Sherwood AR — 709 9,604 — 709 9,599 10,308 (6,471) 1989 2572 Springdale AR — — 27,714 — — 27,714 27,714 (4,581) 2016 520 Chandler AZ — 3,669 13,503 7,644 3,799 19,364 23,163 (7,702) 2002 113 Glendale AZ — 1,565 7,050 20 1,565 7,225 8,790 (4,969) 1988 2040 Mesa AZ — — 17,314 2,128 — 18,748 18,748 (4,369) 2012 1066 Scottsdale AZ — 5,115 14,064 6,565 4,839 18,403 23,242 (6,943) 2006 2021 Scottsdale AZ — — 12,312 6,940 — 18,193 18,193 (7,494) 2012 2022 Scottsdale AZ — — 9,179 3,740 — 12,228 12,228 (5,473) 2012 2023 Scottsdale AZ — — 6,398 2,351 — 8,309 8,309 (3,811) 2012 2024 Scottsdale AZ — — 9,522 1,143 32 10,195 10,227 (4,055) 2012 2025 Scottsdale AZ — — 4,102 2,507 — 6,210 6,210 (3,188) 2012 2026 Scottsdale AZ — — 3,655 2,335 — 5,703 5,703 (2,273) 2012 2027 Scottsdale AZ — — 7,168 3,015 — 9,756 9,756 (4,277) 2012 2028 Scottsdale AZ — — 6,659 5,250 — 11,434 11,434 (4,083) 2012 2696 Scottsdale AZ — 10,151 14,925 1,904 10,211 16,761 26,972 (1,957) 2020 1041 Brentwood CA — — 30,864 3,135 309 32,769 33,078 (13,284) 2006 1200 Encino CA — 6,151 10,438 7,662 6,756 14,969 21,725 (6,657) 2006 1038 Fresno CA — 3,652 29,113 21,935 3,652 51,048 54,700 (21,220) 2006 436 Murrieta CA — 400 9,266 5,295 749 12,215 12,964 (7,776) 1999 239 Poway CA — 2,700 10,839 5,835 3,013 13,344 16,357 (8,386) 1997 2654 Riverside CA — 2,758 9,908 959 2,758 10,748 13,506 (1,779) 2017 318 Sacramento CA — 2,860 37,566 28,185 2,911 63,572 66,483 (21,962) 1998 2404 Sacramento CA — 1,268 5,109 1,210 1,299 6,149 7,448 (1,967) 2015 421 San Diego CA — 2,910 19,984 16,437 2,964 35,048 38,012 (14,595) 1999 564 San Jose CA — 1,935 1,728 3,437 1,935 3,204 5,139 (1,477) 2003 565 San Jose CA — 1,460 7,672 1,322 1,460 8,452 9,912 (3,955) 2003 659 Los Gatos CA — 1,718 3,124 1,191 1,758 3,837 5,595 (1,567) 2000 439 Valencia CA — 2,300 6,967 5,062 2,404 9,736 12,140 (5,468) 1999 440 West Hills CA — 2,100 11,595 6,212 2,259 12,889 15,148 (7,186) 1999 3008 West Hills CA 12,010 5,795 13,933 546 5,795 14,399 20,194 (450) 2021 728 Aurora CO — — 8,764 4,492 — 9,533 9,533 (4,055) 2005 1196 Aurora CO — 210 12,362 7,988 210 18,831 19,041 (6,745) 2006 1197 Aurora CO — 200 8,414 7,286 285 14,469 14,754 (5,512) 2006 127 Colorado Springs CO — 690 8,338 — 690 8,415 9,105 (5,683) 1989 882 Colorado Springs CO — — 12,933 11,973 — 20,602 20,602 (8,610) 2006 1199 Denver CO — 493 7,897 2,793 622 9,557 10,179 (4,360) 2006 808 Englewood CO — — 8,616 11,321 11 17,120 17,131 (9,071) 2005 809 Englewood CO — — 8,449 8,818 — 14,490 14,490 (5,490) 2005 810 Englewood CO — — 8,040 14,422 — 18,288 18,288 (7,528) 2005 811 Englewood CO — — 8,472 14,365 — 19,838 19,838 (7,328) 2005 2658 Highlands Ranch CO — 1,637 10,063 — 1,637 10,063 11,700 (1,548) 2017 812 Littleton CO — — 4,562 3,574 257 6,293 6,550 (2,947) 2005 813 Littleton CO — — 4,926 3,267 106 6,730 6,836 (2,691) 2005 570 Lone Tree CO — — — 23,058 — 21,596 21,596 (9,069) 2003 666 Lone Tree CO — — 23,274 5,592 17 26,273 26,290 (10,676) 2000 2233 Lone Tree CO — — 6,734 32,347 — 38,472 38,472 (11,146) 2014 3000 Lone Tree CO — 4,393 31,643 3,201 4,393 34,844 39,237 (746) 2021 510 Thornton CO — 236 10,206 13,754 463 21,383 21,846 (5,870) 2002 434 Atlantis FL — — 2,027 552 5 2,335 2,340 (1,422) 1999 435 Atlantis FL — — 2,000 1,206 — 2,533 2,533 (1,580) 1999 602 Atlantis FL — 455 2,231 1,029 455 2,692 3,147 (1,334) 2000 2963 Brooksville FL — — — 11,509 — 11,509 11,509 (308) 2019 604 Englewood FL — 170 1,134 1,165 226 1,867 2,093 (628) 2000 2962 Jacksonville FL — — — 11,751 — 11,751 11,751 — 2019 609 Kissimmee FL — 788 174 1,246 788 1,239 2,027 (426) 2000 610 Kissimmee FL — 481 347 858 494 619 1,113 (332) 2000 671 Kissimmee FL — — 7,574 2,760 — 8,253 8,253 (3,617) 2000 603 Lake Worth FL — 1,507 2,894 1,807 1,507 3,042 4,549 (1,450) 2000 612 Margate FL — 1,553 6,898 2,598 1,553 8,683 10,236 (3,833) 2000 613 Miami FL — 4,392 11,841 14,563 4,392 22,458 26,850 (6,372) 2000 2202 Miami FL — — 13,123 10,989 — 23,516 23,516 (7,460) 2014 2203 Miami FL — — 8,877 4,544 — 12,987 12,987 (4,067) 2014 1067 Milton FL — — 8,566 1,043 — 9,528 9,528 (3,459) 2006 2577 Naples FL — — 29,186 1,805 — 30,991 30,991 (4,816) 2016 2578 Naples FL — — 18,819 667 — 19,486 19,486 (2,586) 2016 2964 Okeechobee FL — — — 15,219 — 15,219 15,219 — 2019 563 Orlando FL — 2,144 5,136 16,445 12,268 7,717 19,985 (5,849) 2003 833 Pace FL — — 10,309 4,168 54 11,744 11,798 (4,138) 2006 834 Pensacola FL — — 11,166 669 — 11,358 11,358 (3,969) 2006 673 Plantation FL — 1,091 7,176 2,843 1,091 9,014 10,105 (3,654) 2002 674 Plantantion FL — — 8,273 9 — 8,282 8,282 (210) 2021 2579 Punta Gorda FL — — 9,379 279 — 9,658 9,658 (1,398) 2016 2833 St. Petersburg FL — — 13,754 14,478 — 23,083 23,083 (8,143) 2006 2836 Tampa FL — 1,967 6,618 8,661 2,700 10,614 13,314 (6,370) 2006 887 Atlanta GA — 4,300 13,690 — 4,300 11,890 16,190 (8,818) 2007 2576 Statesboro GA — — 10,234 439 — 10,673 10,673 (2,111) 2016 3006 Arlington Heights IL 4,830 3,011 9,651 12 3,011 9,642 12,653 (316) 2021 2702 Bolingbrook IL — — 21,237 612 — 21,833 21,833 (999) 2020 3004 Highland Park IL 5,816 2,767 11,491 104 2,767 11,572 14,339 (302) 2021 3005 Lockport IL 10,942 3,106 22,645 — 3,106 22,645 25,751 (564) 2021 Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) 1065 Marion IL — 99 11,538 2,192 100 13,254 13,354 (5,112) 2006 2719 Marion IL — — — 4,767 — 4,767 4,767 — 2021 2697 Indianapolis IN — — 59,746 479 — 60,224 60,224 (2,199) 2020 2699 Indianapolis IN — — 23,211 590 — 23,800 23,800 (826) 2020 2701 Indianapolis IN — 478 1,637 86 478 1,724 2,202 (132) 2020 2698 Mooresville IN — — 20,646 640 — 21,280 21,280 (741) 2020 1057 Newburgh IN — — 14,019 5,315 — 19,306 19,306 (8,422) 2006 2700 Zionsville IN — 2,969 7,281 718 2,984 7,963 10,947 (385) 2020 2039 Kansas City KS — 440 2,173 153 448 2,273 2,721 (586) 2012 112 Overland Park KS — 2,316 10,681 24 2,316 10,797 13,113 (7,673) 1988 2043 Overland Park KS — — 7,668 1,759 — 9,163 9,163 (2,664) 2012 3062 Overland Park KS — 872 11,813 430 978 11,715 12,693 (1,471) 2019 483 Wichita KS — 530 3,341 713 530 3,617 4,147 (1,654) 2001 3018 Wichita KS — 3,946 39,795 — 3,946 39,795 43,741 (678) 2021 1064 Lexington KY — — 12,726 2,776 — 14,614 14,614 (5,659) 2006 735 Louisville KY — 936 8,426 18,685 936 23,267 24,203 (11,961) 2005 737 Louisville KY — 835 27,627 10,975 878 35,836 36,714 (15,782) 2005 738 Louisville KY — 780 8,582 7,394 851 12,740 13,591 (9,881) 2005 739 Louisville KY — 826 13,814 3,418 832 15,461 16,293 (6,373) 2005 2834 Louisville KY — 2,983 13,171 8,797 2,991 18,899 21,890 (9,136) 2005 1945 Louisville KY — 3,255 28,644 2,930 3,339 30,992 34,331 (11,401) 2010 1946 Louisville KY — 430 6,125 276 430 6,401 6,831 (2,359) 2010 2237 Louisville KY — 1,519 15,386 4,701 1,672 19,916 21,588 (6,341) 2014 2238 Louisville KY — 1,334 12,172 3,259 1,558 14,657 16,215 (4,532) 2014 2239 Louisville KY — 1,644 10,832 6,440 2,091 16,247 18,338 (5,826) 2014 3023 Covington LA — 9,490 21,915 — 9,490 21,915 31,405 (172) 2021 3121 Cambrigde MA — 40,643 23,102 — 40,643 23,102 63,745 (137) 2021 1213 Ellicott City MD — 1,115 3,206 3,945 1,336 5,403 6,739 (2,544) 2006 1052 Towson MD — — 14,233 4,619 — 13,528 13,528 (5,109) 2006 2650 Biddeford ME — 1,949 12,244 29 1,949 12,273 14,222 (1,833) 2017 3002 Burnsville MN 7,689 2,801 17,779 180 2,818 17,943 20,761 (836) 2021 3003 Burnsville MN 5,126 516 13,200 161 533 13,090 13,623 (540) 2021 3009 Burnsville MN 18,927 4,640 38,064 40 4,640 38,104 42,744 (994) 2021 240 Minneapolis MN — 117 13,213 6,910 117 18,511 18,628 (10,621) 1997 300 Minneapolis MN — 160 10,131 6,094 214 13,564 13,778 (8,024) 1997 2703 Columbia MO — 4,141 20,364 — 4,141 20,364 24,505 (993) 2020 2032 Independence MO — — 48,025 3,212 — 49,900 49,900 (10,982) 2012 2863 Lee's Summit MO — — — 15,877 — 15,877 15,877 (1,097) 2019 1078 Flowood MS — — 8,413 1,839 — 9,564 9,564 (3,334) 2006 1059 Jackson MS — — 8,868 614 — 9,463 9,463 (3,494) 2006 1060 Jackson MS — — 7,187 3,009 — 9,118 9,118 (3,211) 2006 1068 Omaha NE — — 16,243 2,114 33 17,626 17,659 (6,981) 2006 2651 Charlotte NC — 1,032 6,196 202 1,032 6,293 7,325 (784) 2017 2695 Charlotte NC — 844 5,021 74 844 5,058 5,902 (619) 2017 2655 Wilmington NC — 1,341 17,376 — 1,341 17,376 18,717 (2,817) 2017 2656 Wilmington NC — 2,071 11,592 — 2,071 11,592 13,663 (1,717) 2017 2657 Shallotte NC — 918 3,609 — 918 3,609 4,527 (737) 2017 2647 Concord NH — 1,961 23,516 385 1,961 23,608 25,569 (3,188) 2017 2648 Concord NH — 815 8,902 423 815 9,325 10,140 (1,671) 2017 2649 Epsom NH — 919 5,868 49 919 5,909 6,828 (1,280) 2017 3011 Cherry Hill NJ — 5,235 21,731 — 5,235 21,731 26,966 (674) 2021 3012 Morristown NJ — 21,703 32,504 1,327 21,703 33,831 55,534 (689) 2021 3013 Morristown NJ — 14,567 20,537 374 14,567 20,910 35,477 (328) 2021 3014 Morristown NJ — 20,563 31,838 239 20,563 32,077 52,640 (430) 2021 729 Albuquerque NM — — 5,380 1,978 — 6,820 6,820 (2,300) 2005 571 Las Vegas NV — — — 21,296 — 19,131 19,131 (8,502) 2003 660 Las Vegas NV — 1,121 4,363 10,787 1,328 10,923 12,251 (3,757) 2000 661 Las Vegas NV — 2,305 — 1,016 3,321 — 3,321 — 2000 662 Las Vegas NV — 3,480 12,305 10,631 1,000 6,915 7,915 (6,915) 2000 663 Las Vegas NV — 1,717 3,597 14,420 1,724 15,397 17,121 (5,516) 2000 664 Las Vegas NV — 1,172 — 633 1,805 — 1,805 (306) 2000 691 Las Vegas NV — 3,073 18,339 8,639 3,167 25,245 28,412 (13,957) 2004 2037 Mesquite NV — — 5,559 961 34 6,366 6,400 (1,646) 2012 400 Harrison OH — — 4,561 300 — 4,561 4,561 (2,889) 1999 1054 Durant OK — 619 9,256 2,982 659 12,045 12,704 (4,459) 2006 817 Owasso OK — — 6,582 1,710 — 5,763 5,763 (2,320) 2005 404 Roseburg OR — — 5,707 852 — 5,859 5,859 (3,561) 1999 3010 Springfield OR 20,603 — 51,998 84 — 51,876 51,876 (1,478) 2021 2570 Limerick PA — 925 20,072 51 925 19,953 20,878 (3,624) 2016 2234 Philadelphia PA — 24,264 99,904 48,922 24,288 148,665 172,953 (29,718) 2014 2403 Philadelphia PA — 26,063 97,646 35,265 26,134 132,787 158,921 (34,112) 2015 2571 Wilkes-Barre PA — — 9,138 — — 9,138 9,138 (1,821) 2016 2694 Anderson SC — 405 1,211 — 405 1,211 1,616 (151) 2020 2573 Florence SC — — 12,090 91 — 12,180 12,180 (1,934) 2016 2574 Florence SC — — 12,190 88 — 12,277 12,277 (1,947) 2016 2575 Florence SC — — 11,243 56 — 11,299 11,299 (2,195) 2016 2841 Greenville SC — 634 38,386 1,047 647 38,769 39,416 (5,715) 2018 2842 Greenville SC — 794 41,293 560 794 41,058 41,852 (5,854) 2018 2843 Greenville SC — 626 22,210 — 626 22,210 22,836 (3,732) 2018 2844 Greenville SC — 806 18,889 377 806 19,266 20,072 (3,379) 2018 2845 Greenville SC — 932 40,879 196 932 41,075 42,007 (6,074) 2018 2846 Greenville SC — 896 38,486 180 896 38,666 39,562 (5,799) 2018 Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) 2847 Greenville SC — 600 26,472 4,031 600 30,503 31,103 (5,309) 2018 2848 Greenville SC — 318 5,816 — 318 5,816 6,134 (954) 2018 2849 Greenville SC — 319 5,836 98 319 5,935 6,254 (1,062) 2018 2850 Greenville SC — 211 6,503 15 211 6,518 6,729 (1,201) 2018 2853 Greenville SC — 534 6,430 229 534 6,659 7,193 (1,929) 2018 2854 Greenville SC — 824 13,645 109 824 13,755 14,579 (2,942) 2018 2851 Travelers Rest SC — 498 1,015 — 498 1,015 1,513 (539) 2018 2862 Myrtle Beach SC — — — 26,238 — 26,238 26,238 (2,644) 2018 2865 Brentwood TN — — — 32,671 — 32,671 32,671 (1,184) 2019 624 Hendersonville TN — 256 1,530 3,306 256 3,782 4,038 (1,723) 2000 559 Hermitage TN — 830 5,036 13,275 851 16,079 16,930 (5,863) 2003 561 Hermitage TN — 596 9,698 8,570 596 14,982 15,578 (7,447) 2003 562 Hermitage TN — 317 6,528 4,821 317 9,255 9,572 (4,418) 2003 625 Nashville TN — 955 14,289 7,741 955 19,117 20,072 (7,845) 2000 626 Nashville TN — 2,050 5,211 6,008 2,055 8,644 10,699 (3,869) 2000 627 Nashville TN — 1,007 181 1,484 1,113 1,099 2,212 (402) 2000 628 Nashville TN — 2,980 7,164 4,860 2,980 10,762 13,742 (5,444) 2000 630 Nashville TN — 515 848 520 528 1,083 1,611 (468) 2000 631 Nashville TN — 266 1,305 2,084 266 2,669 2,935 (1,366) 2000 632 Nashville TN — 827 7,642 6,086 827 10,919 11,746 (5,105) 2000 633 Nashville TN — 5,425 12,577 10,579 5,425 19,633 25,058 (8,626) 2000 634 Nashville TN — 3,818 15,185 13,976 3,818 24,201 28,019 (11,544) 2000 636 Nashville TN — 583 450 481 604 758 1,362 (325) 2000 2967 Nashville TN — — — 42,068 — 42,068 42,068 — 2019 2720 Nashville TN — 102 10,925 531 102 11,450 11,552 (605) 2021 2611 Allen TX — 1,330 5,960 837 1,374 6,754 8,128 (1,295) 2016 2612 Allen TX — 1,310 4,165 949 1,310 5,093 6,403 (1,149) 2016 573 Arlington TX — 769 12,355 6,456 769 16,597 17,366 (7,501) 2003 2621 Cedar Park TX — 1,617 11,640 544 1,617 12,185 13,802 (1,340) 2017 576 Conroe TX — 324 4,842 4,528 324 7,783 8,107 (3,305) 2000 577 Conroe TX — 397 7,966 4,027 397 10,739 11,136 (4,742) 2000 578 Conroe TX — 388 7,975 5,114 388 10,340 10,728 (4,367) 2006 579 Conroe TX — 188 3,618 1,632 188 4,558 4,746 (2,026) 2000 581 Corpus Christi TX — 717 8,181 7,061 717 12,220 12,937 (6,201) 2000 600 Corpus Christi TX — 328 3,210 5,077 328 6,152 6,480 (3,135) 2000 601 Corpus Christi TX — 313 1,771 2,407 325 3,275 3,600 (1,650) 2000 2839 Cypress TX — — — 37,153 11 36,283 36,294 (9,299) 2015 582 Dallas TX — 1,664 6,785 6,631 1,747 10,829 12,576 (4,794) 2000 886 Dallas TX — 1,820 8,508 26 1,820 5,503 7,323 (2,717) 2007 1314 Dallas TX — 15,230 162,970 30,361 24,093 183,211 207,304 (76,574) 2006 1315 Dallas TX — — — 3,860 26 2,838 2,864 (1,160) 2006 1316 Dallas TX — — — 7,285 — 4,078 4,078 (1,749) 2006 1317 Dallas TX — — — 8,990 — 8,475 8,475 (1,165) 2006 1319 Dallas TX — 18,840 155,659 7,097 18,840 162,204 181,044 (66,824) 2007 2721 Dallas TX — 31,707 2,000 (2) 31,707 1,998 33,705 (749) 2020 3007 Denton TX 5,619 2,298 9,502 97 2,338 9,559 11,897 (322) 2021 3020 Frisco TX — — 27,201 27 — 27,228 27,228 (336) 2021 3021 Frisco TX — — 26,181 381 — 26,562 26,562 (326) 2021 583 Fort Worth TX — 898 4,866 5,035 898 8,421 9,319 (3,443) 2000 805 Fort Worth TX — — 2,481 2,092 45 3,745 3,790 (2,166) 2005 806 Fort Worth TX — — 6,070 2,261 5 7,911 7,916 (3,197) 2005 2231 Fort Worth TX — 902 — 44 946 — 946 (30) 2014 2619 Fort Worth TX — 1,180 13,432 475 1,180 13,907 15,087 (1,383) 2017 2620 Fort Worth TX — 1,961 14,155 354 2,000 14,470 16,470 (1,538) 2017 2982 Fort Worth TX — 2,720 6,225 4,836 2,720 11,020 13,740 (1,314) 2019 1061 Granbury TX — — 6,863 1,157 — 7,880 7,880 (3,123) 2006 430 Houston TX — 1,927 33,140 22,362 2,200 51,804 54,004 (27,628) 1999 446 Houston TX — 2,200 19,585 23,958 2,945 32,682 35,627 (22,359) 1999 589 Houston TX — 1,676 12,602 14,043 1,706 22,219 23,925 (7,609) 2000 670 Houston TX — 257 2,884 1,693 318 2,310 2,628 (1,548) 2000 702 Houston TX — — 7,414 3,966 7 9,926 9,933 (4,487) 2004 1044 Houston TX — — 4,838 6,279 1,321 7,888 9,209 (2,612) 2006 2542 Houston TX — 304 17,764 — 304 17,764 18,068 (3,546) 2015 2543 Houston TX — 116 6,555 — 116 6,439 6,555 (1,420) 2015 2544 Houston TX — 312 12,094 — 312 12,094 12,406 (2,874) 2015 2545 Houston TX — 316 13,931 — 316 13,931 14,247 (2,521) 2015 2546 Houston TX — 408 18,332 — 408 17,925 18,333 (4,766) 2015 2547 Houston TX — 470 18,197 — 470 18,197 18,667 (4,379) 2015 2548 Houston TX — 313 7,036 — 313 6,724 7,037 (1,829) 2015 2549 Houston TX — 530 22,711 — 530 22,711 23,241 (3,625) 2015 2966 Houston TX — — — 26,503 — 26,503 26,503 — 2020 590 Irving TX — 828 6,160 5,313 828 9,676 10,504 (3,929) 2000 700 Irving TX — — 8,550 4,650 8 9,705 9,713 (4,309) 2006 1207 Irving TX — 1,955 12,793 3,005 2,063 14,966 17,029 (6,052) 2006 2840 Kingwood TX — 3,035 28,373 1,999 3,422 29,984 33,406 (5,779) 2016 591 Lewisville TX — 561 8,043 2,684 561 9,568 10,129 (4,640) 2000 144 Longview TX — 102 7,998 1,439 102 8,987 9,089 (5,164) 1992 143 Lufkin TX — 338 2,383 299 338 2,602 2,940 (1,498) 1992 568 McKinney TX — 541 6,217 4,693 541 9,434 9,975 (4,304) 2003 569 McKinney TX — — 636 9,568 — 9,179 9,179 (3,914) 2003 596 N Richland Hills TX — 812 8,883 3,961 812 10,755 11,567 (4,549) 2000 2048 North Richland Hills TX — 1,385 10,213 2,357 1,400 12,026 13,426 (4,542) 2012 Encumbrances at December 31, 2021 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (5) Year Acquired/ Constructed City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3)(4) 2835 Pearland TX — — 4,014 5,044 — 7,251 7,251 (2,739) 2006 2838 Pearland TX — — — 19,966 — 19,342 19,342 (4,442) 2014 447 Plano TX — 1,700 7,810 7,018 1,792 12,357 14,149 (7,434) 1999 597 Plano TX — 1,210 9,588 7,961 1,225 15,502 16,727 (6,699) 2000 672 Plano TX — 1,389 12,768 4,676 1,389 14,734 16,123 (5,951) 2002 1384 Plano TX — 6,290 22,686 5,949 6,290 28,445 34,735 (20,768) 2007 2653 Rockwall TX — 788 9,020 — 788 8,987 9,775 (1,227) 2017 815 San Antonio TX — — 9,193 3,595 87 11,367 11,454 (5,219) 2006 816 San Antonio TX 2,233 — 8,699 5,206 175 12,489 12,664 (5,593) 2006 1591 San Antonio TX — — 7,309 1,502 43 8,360 8,403 (3,046) 2010 2837 San Antonio TX — — 26,191 3,467 — 28,231 28,231 (10,370) 2011 2852 Shenandoah TX — — — 30,275 — 30,275 30,275 (5,381) 2016 598 Sugarland TX — 1,078 5,158 4,179 1,170 7,073 8,243 (3,119) 2000 599 Texas City TX — — 9,519 1,583 — 10,929 10,929 (4,382) 2000 152 Victoria TX — 125 8,977 525 125 9,108 9,233 (5,414) 1994 2198 Webster TX — 2,220 9,602 462 2,220 9,744 11,964 (3,112) 2013 2550 The Woodlands TX — 115 5,141 — 115 5,141 5,256 (1,049) 2015 2551 The Woodlands TX — 296 18,282 — 296 18,282 18,578 (3,212) 2015 2552 The Woodlands TX — 374 25,125 — 374 25,125 25,499 (3,933) 2015 1592 Bountiful UT — 999 7,426 1,724 1,019 8,939 9,958 (3,388) 2010 169 Bountiful UT — 276 5,237 3,583 653 7,496 8,149 (3,588) 1995 2035 Draper UT 4,341 — 10,803 954 — 11,603 11,603 (2,851) 2012 469 Kaysville UT — 530 4,493 226 530 4,493 5,023 (2,030) 2001 456 Layton UT — 371 7,073 1,717 389 8,176 8,565 (4,882) 2001 2042 Layton UT — — 10,975 1,262 44 11,960 12,004 (2,747) 2012 2864 Ogden UT — — — 19,271 — 19,271 19,271 (1,125) 2019 357 Orem UT — 337 8,744 3,718 306 9,307 9,613 (5,500) 1999 353 Salt Lake City UT — 190 779 278 273 914 1,187 (626) 1999 354 Salt Lake City UT — 220 10,732 3,938 220 13,068 13,288 (7,861) 1999 355 Salt Lake City UT — 180 14,792 4,884 180 18,080 18,260 (10,648) 1999 467 Salt Lake City UT — 3,000 7,541 3,229 3,145 9,868 13,013 (5,199) 2001 566 Salt Lake City UT — 509 4,044 4,712 509 7,478 7,987 (3,277) 2003 2041 Salt Lake City UT — — 12,326 1,197 — 13,189 13,189 (2,984) 2012 2033 Sandy UT — 867 3,513 2,338 1,356 5,215 6,571 (2,448) 2012 482 Stansbury UT — 450 3,201 1,248 529 3,948 4,477 (1,861) 2001 351 Washington Terrace UT — — 4,573 3,346 17 6,013 6,030 (3,616) 1999 352 Washington Terrace UT — — 2,692 1,805 15 3,716 3,731 (2,381) 1999 2034 West Jordan UT — — 12,021 323 — 12,037 12,037 (2,668) 2012 2036 West Jordan UT — — 1,383 1,660 — 2,844 2,844 (1,377) 2012 1208 Fairfax VA — 8,396 16,710 14,636 8,845 28,157 37,002 (13,630) 2006 2230 Fredericksburg VA — 1,101 8,570 — 1,101 8,570 9,671 (1,816) 2014 3001 Leesburg VA 10,153 3,549 24,059 1,375 3,549 25,435 28,984 (918) 2021 3015 Midlothian VA 12,601 — 21,442 78 8 21,289 21,297 (405) 2021 3016 Midlothian VA 11,912 — 20,610 80 12 20,576 20,588 (565) 2021 301

Schedule IV_ Mortgage Loans on

Schedule IV: Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2021
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 (in thousands) Location Segment Interest Rate Fixed / Variable Maturity Date Prior Liens Monthly Debt Service Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount Subject to Delinquent Principal or Interest First mortgages relating to 1 property located in: Texas Other 7.5 % Fixed 04/01/2022 $ — $ 14 $ 2,250 $ 2,191 $ — California Other 4.25% + greater of 2.0% or LIBOR Variable 05/07/2026 — 97 18,420 18,604 — Florida Other 4.0 % Fixed 12/17/2022 — 25 7,798 7,246 — Florida Other 4.0 % Fixed 12/17/2022 — 13 3,912 3,582 — Florida Other 4.0 % Fixed 12/17/2022 — 45 14,208 14,180 — California Other 4.0 % Fixed 12/16/2022 — 113 35,100 34,994 — First mortgages relating to 18 properties located in: Multiple Other 3.5% + greater of 0.5% or LIBOR Variable 02/01/2024 — 569 165,093 161,618 — First mortgages relating to 16 properties located in: Multiple Other 4.0 % Fixed 01/21/2023 — 515 149,500 147,876 — $ — $ 1,391 $ 396,281 $ 390,291 $ — Year Ended December 31, 2021 2020 2019 Reconciliation of mortgage loans Balance at beginning of year $ 157,572 $ 161,964 $ 42,037 Additions: New mortgage loans 310,338 98,469 59,552 Draws on existing mortgage loans 9,370 19,182 60,375 Total additions 319,708 117,651 119,927 Deductions: Principal repayments (84,486) (113,200) — Reserve for loan losses (1) (2,503) (8,843) — Total deductions (86,989) (122,043) — Balance at end of year $ 390,291 $ 157,572 $ 161,964 _______________________________________ (1) The years ended December 31, 2021 and 2020 include current expected credit loss reserves recognized under ASU 2016-13, which was adopted on January 1, 2020 (see Note 2 to the Consolidated Financial Statements). The year ended December 31, 2020 also includes an immaterial amount related to the cumulative-effect of adoption of ASU 2016-13. Refer to Note 8 for additional information on the Company’s reserve for loan losses.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
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.
Basis of Presentation	The consolidated financial statements include the accounts of Healthpeak Properties, Inc., its wholly-owned subsidiaries, joint ventures (“JVs”), and variable interest entities (“VIEs”) that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation. The Company is required to continually evaluate its VIE relationships and consolidate these entities when it is determined to be the primary beneficiary of their operations. A VIE is broadly defined as an entity where either: (i) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support, (ii) substantially all of an entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights, or (iii) the equity investors as a group lack any of the following: (a) the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of an entity, or (c) the right to receive the expected residual returns of an entity. 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, which activities most significantly impact the entity’s economic performance and the ability to direct those activities, 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 The Company classifies a lease 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 repair 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. If it is no longer probable that substantially all future minimum lease payments under operating leases will be received, the accounts receivable and straight-line rent receivable balance is written off and recognized as a decrease in revenue in that period. The Company’s operating leases generally contain options to extend lease terms at prevailing market rates at the time of expiration. Certain operating leases contain early termination options that require advance notice and payment of a penalty, which in most cases is substantial enough to be deemed economically disadvantageous by a tenant to exercise. 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 and CCRC 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 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 recorded in deferred revenue in the Consolidated Balance Sheets and amortized into revenue over the estimated stay of the resident. The Company utilizes third-party actuarial experts in its determination of the estimated stay of residents. At December 31, 2021 and 2020, unamortized nonrefundable entrance fee liabilities were $496 million and $484 million, respectively. 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.
Government Grant Income	Government Grant Income On March 27, 2020, the federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to provide financial aid to individuals, businesses, and state and local governments. During the years ended December 31, 2021 and 2020, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenue during the Covid pandemic. Grant income is recognized when there is reasonable assurance that the grant will be received and the Company will comply with all conditions attached to the grant. Additionally, grants are recognized over the periods in which the Company recognizes the increased expenses and lost revenue the grants are intended to defray. As of December 31, 2021, the amount of qualifying expenditures and lost revenue exceeded grant income recognized and the Company believes it has complied and will continue to comply with all grant conditions. In the event of non-compliance, all such amounts received are subject to recapture.
Credit Losses	Credit Losses The Company evaluates the liquidity and creditworthiness of its occupants, operators, and borrowers on a monthly and quarterly basis. The Company’s evaluation considers payment history and current credit status, industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity, and other factors. The Company’s occupants, 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 occupants’, operators’, and borrowers’ ability to service their obligations with the Company. 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.
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. During the holding or development period, certain real estate assets generate incidental income that is not associated with the future profit or return from the intended use of the property. Such income is recognized as a reduction of the associated project costs. 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 Statements of Cash Flows. Initial direct costs incurred in connection with successful property leasing are capitalized as deferred leasing costs and classified as investing activities in the Consolidated Statements of Cash Flows. Initial direct costs include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. Initial direct costs consist of leasing commissions paid to external third party brokers and lease incentives. Initial direct costs are included in other assets, net in the Consolidated Balance Sheets and amortized in depreciation and amortization in the Consolidated Statements of Operations using the straight-line method of accounting over the lease term. 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 50 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.
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 the expected use and eventual disposition of the asset, 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 a real estate property 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. The Company classifies a loan receivable as held for sale when management no longer has the intent and ability to hold the loan receivable for the foreseeable future or until maturity. If a loan receivable is classified as held for sale, it is reported at the lower of amortized cost or fair value. A discontinued operation represents: (i) a component of the Company 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.
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.
Advertising Cost	Advertising Costs All advertising costs are expensed as incurred and reported within operating expenses on the Consolidated Statements of Operations. During the years ended December 31, 2021, 2020, and 2019, total advertising expense was $11 million, $18 million, and $13 million, respectively ($3 million, $12 million, and $13 million, respectively, of which is reported in income (loss) from discontinued operations on the Consolidated Statements of Operations).
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 ReportingThe Company’s reportable segments, based on how it evaluates its business and allocates resources, are as follows: (i) life science, (ii) medical office, and (iii) CCRC.
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. Redeemable Noncontrolling Interests Certain of the Company’s noncontrolling interest holders have the ability to put their equity interests to the Company upon specified events or after the passage of a predetermined period of time. Each put option is payable in cash and subject to increases in redemption value in the event that the underlying property generates specified returns and meets certain promote thresholds pursuant to the respective agreements. Accordingly, the Company records redeemable noncontrolling interests outside of permanent equity and presents the redeemable noncontrolling interests at the greater of their carrying amount or redemption value at the end of each reporting period.
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 ShareBasic earnings per common share is computed by dividing net income (loss) applicable to common shares by the weighted average number of shares of common stock outstanding during the period. The Company accounts for unvested share-based payment awards that contain non-forfeitable dividend rights or dividend equivalents (whether paid or unpaid) as participating securities, which are included in the computation of earnings per share pursuant to the two-class method. Diluted earnings per common share is calculated by including the effect of dilutive securities, such as 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 (codified under 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 was calculated as the present value of minimum lease payments, discounted using a rate that approximated the Company's secured incremental borrowing rate at the time of adoption, adjusted for the noncancelable term of each lease. The right-of-use asset was 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 properties under ASC 842 and revenue from its SHOP and CCRC properties 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. Credit Losses. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 is intended to improve financial reporting by requiring timelier recognition of credit losses on loans and other financial instruments held by financial institutions and other organizations. The amendments in ASU 2016-13 eliminate the “probable” initial threshold for recognition of credit losses in previous accounting guidance and, instead, reflect an entity’s current estimate of all expected credit losses over the life of the financial instrument. Historically, when credit losses were measured under previous 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. As a result of adopting ASU 2016-13 on January 1, 2020 using the modified retrospective transition approach, the Company recognized a cumulative-effect adjustment to equity of $2 million as of January 1, 2020. Under ASU 2016-13, the Company began using a loss model that relies on future expected credit losses, rather than incurred losses, as was required under historical GAAP. Under the new model, the Company is required to recognize future credit losses expected to be incurred over the life of its finance receivables, including loans receivable, direct financing leases (“DFLs”), and certain accounts receivable, at inception of those instruments. 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 rely on counter-party specific information to ensure the most accurate estimate is recognized. The Company reassesses its reserves on finance receivables at each balance sheet date to determine if an adjustment to the previous reserve is necessary. Accounting for Lease Concessions Related to Covid. In April 2020, the FASB staff issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of Covid. Under ASC 842, Leases, the Company would have to determine, on a lease-by-lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease-by-lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. During the year ended December 31, 2020, the Company provided rent deferrals (to be repaid before the end of 2020) to certain tenants in its life science and medical office segments that were impacted by Covid (discussed in further detail in Note 7). No such rent deferrals were provided to tenants during the year ended December 31, 2021. The Company elected to not assess these rent deferrals on a lease-by-lease basis and to continue recognizing rent revenue on a straight-line basis. While the Company’s election for rent deferrals will be applied consistently to future deferrals with similar characteristics and similar circumstances, if the Company grants future lease concessions of a different type (such as rent abatements), it will make an election related to those concessions at that time. Not Yet Adopted Reference Rate Reform. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional guidance for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope (“ASU 2021-01”), which amends the scope of ASU 2020-04 to include derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments in ASU 2020-04 and ASU 2021-01 are effective immediately and may be applied through December 31, 2022. The Company is evaluating: (i) how the transition away from LIBOR will impact the Company, (ii) whether the optional relief provided by these standards will be adopted, and (iii) the impact that adopting ASU 2020-04 or ASU 2021-01 will have on its consolidated financial position, results of operations, cash flows, or disclosures. Government Assistance. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance (“ASU 2021-10”), which increases the transparency of government assistance including the disclosure of the types of assistance, an entity’s accounting for assistance, and the effect of the assistance on an entity’s financial statements. The amendments in ASU 2021-10 are effective for annual periods beginning after December 15, 2021. The Company does not expect the adoption of ASU 2021-10 to have a material impact on its consolidated financial position, results of operations, cash flows, or disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following table provides the impact of the adjustment to the Company’s previously reported Consolidated Balance Sheet as of December 31, 2020 (in thousands): December 31, 2020 Previously Reported Adjustments As Corrected Consolidated Balance Sheet Accounts payable, accrued liabilities, and other liabilities $ 763,391 $ (2,774) $ 760,617 Total liabilities 8,575,517 (2,774) 8,572,743 Redeemable noncontrolling interests — 57,396 57,396 Additional paid-in capital 10,229,857 (54,622) 10,175,235 Total stockholders’ equity 6,788,345 (54,622) 6,733,723 Total equity 7,344,572 (54,622) 7,289,950 Total liabilities and equity 15,920,089 — 15,920,089
Schedule of Government Grant Receivables Cares Act	The following table summarizes information related to government grant income received and recognized by the Company (in thousands): Year Ended December 31, 2021 2020 2019 Government grant income recorded in other income (expense), net $ 1,412 $ 16,198 $ — Government grant income recorded in equity income (loss) from unconsolidated joint ventures 1,749 1,279 — Government grant income recorded in income (loss) from discontinued operations 3,669 15,436 — Total government grants received $ 6,830 $ 32,913 $ —

Real Estate Transactions (Table

Real Estate Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Schedule of Capital Improvements	The following table summarizes the Company’s expenditures for construction, tenant improvements, and other capital improvements, excluding expenditures related to properties classified as discontinued operations (in thousands): Year Ended December 31, Segment 2021 2020 2019 Life science $ 472,301 $ 573,999 $ 499,956 Medical office 230,227 173,672 146,466 CCRC 57,192 41,224 — Other — — 30,852 $ 759,720 $ 788,895 $ 677,274

Dispositions of Real Estate a_2

Dispositions of Real Estate and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Summary of Dispositions of Real Estate and Discontinued Operations	The following summarizes the assets and liabilities classified as discontinued operations at December 31, 2021 and 2020, which are included in assets held for sale and discontinued operations, net and liabilities related to assets held for sale and discontinued operations, net, respectively, on the Consolidated Balance Sheets (in thousands): December 31, 2021 2020 ASSETS Real estate: Buildings and improvements $ — $ 2,553,254 Development costs and construction in progress — 21,509 Land — 355,803 Accumulated depreciation and amortization — (615,708) Net real estate — 2,314,858 Investments in and advances to unconsolidated joint ventures — 5,842 Accounts receivable, net of allowance of $4,138 and $5,873 2,446 20,500 Cash and cash equivalents 7,707 53,085 Restricted cash — 17,168 Intangible assets, net — 24,541 Right-of-use asset, net 26 4,109 Other assets, net (1) 3,237 103,965 Total assets of discontinued operations, net (2) 13,416 2,544,068 Assets held for sale, net (3) 23,774 82,238 Assets held for sale and discontinued operations, net $ 37,190 $ 2,626,306 LIABILITIES Mortgage debt $ — $ 318,876 Lease liability 26 3,189 Accounts payable, accrued liabilities, and other liabilities 14,843 79,411 Deferred revenue 92 11,442 Total liabilities of discontinued operations, net (2) 14,961 412,918 Liabilities related to assets held for sale, net (3) 95 2,819 Liabilities related to assets held for sale and discontinued operations, net $ 15,056 $ 415,737 _______________________________________ (1) Includes goodwill of zero and $29 million as of December 31, 2021 and 2020, respectively. (2) At December 31, 2021, there were no remaining senior housing triple-net or SHOP facilities classified as held for sale and discontinued operations. At December 31, 2020, 41 senior housing triple-net facilities, 97 SHOP facilities, and 1 SHOP joint venture were classified as held for sale and discontinued operations. (3) As of December 31, 2021, primarily comprised of four MOBs and one life science facility with net real estate assets of $23 million and right-of-use asset, net of $1 million. As of December 31, 2020, primarily comprised of six MOBs with net real estate assets of $73 million and deferred revenue of $2 million. Year Ended December 31, 2021 2020 2019 Revenues: Rental and related revenues $ 7,535 $ 97,877 $ 152,576 Resident fees and services 114,936 621,253 583,653 Income from direct financing leases — — 20,815 Total revenues 122,471 719,130 757,044 Costs and expenses: Interest expense 3,900 10,538 8,007 Depreciation and amortization — 143,194 224,798 Operating 122,571 550,226 474,126 Transaction costs 76 20,426 6,780 Impairments and loan loss reserves (recoveries), net 32,736 201,344 208,229 Total costs and expenses 159,283 925,728 921,940 Other income (expense): Gain (loss) on sales of real estate, net 414,721 460,144 22,940 Other income (expense), net 4,189 5,475 17,060 Total other income (expense), net 418,910 465,619 40,000 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 382,098 259,021 (124,896) Income tax benefit (expense) 969 9,913 11,783 Equity income (loss) from unconsolidated joint ventures 5,135 (1,188) (2,295) Income (loss) from discontinued operations $ 388,202 $ 267,746 $ (115,408)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Company's Lease Income, Excluding Discontinued Operation	The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Fixed income from operating leases $ 1,087,683 $ 943,638 $ 853,545 Variable income from operating leases 290,701 238,470 215,957 Interest income from direct financing leases 8,702 9,720 16,666
Schedule of Components of Net Investment in Dfls	Net investment in DFLs consists of the following (in thousands): December 31, 2021 2020 Present value of minimum lease payments receivable $ 1,220 $ 9,804 Present value of estimated residual value 44,706 44,706 Less deferred selling profits (1,220) (9,804) Net investment in direct financing leases $ 44,706 $ 44,706
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, 2021 (in thousands): Year Amount 2022 $ 1,220 2023 — 2024 — 2025 — 2026 — Thereafter — Undiscounted minimum lease payments receivable 1,220 Less: imputed interest — Present value of minimum lease payments receivable $ 1,220
Schedule of Future Minimum Lease Payments Due Under Operating Leases	The following table summarizes future minimum lease payments to be received from tenants under non-cancelable operating leases as of December 31, 2021 (in thousands): Year Amount 2022 $ 1,057,467 2023 1,041,053 2024 979,640 2025 892,348 2026 783,781 Thereafter 3,171,115 $ 7,925,404
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 2022 $ 15,059 8 2023 1,191 1 2024 6,835 3 2025 12,564 16 2026 2,662 2 Thereafter 19,426 6 $ 57,737 36 _______________________________________ (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, excluding lease costs related to assets classified as discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2021 2020 2019 Total lease expense $ 14,442 $ 13,601 $ 11,852 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 52 57 Weighted average discount rate: Operating leases 4.14 % 4.26 % _______________________________________ (1) The weighted average remaining lease term including the Company’s options to extend its operating leases is 68 years as of December 31, 2021.
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, 2021 (in thousands): Year Amount 2022 $ 16,030 2023 13,438 2024 12,575 2025 11,471 2026 11,406 Thereafter 484,552 Undiscounted minimum lease payments included in the lease liability 549,472 Less: imputed interest (344,925) Present value of lease liability $ 204,547

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Loans Receivable	The following table summarizes the Company’s loans receivable (in thousands): December 31, 2021 2020 Secured loans (1) $ 396,281 $ 161,530 Mezzanine and other 25,529 44,347 Unamortized discounts, fees, and costs (4,186) (222) Reserve for loan losses (1,813) (10,280) Loans receivable, net $ 415,811 $ 195,375 _______________________________________ (1) At December 31, 2021 and 2020, the Company had $58 million and $11 million, respectively, remaining of commitments to fund senior housing redevelopment and capital expenditure projects.
Summary of the Company's Internal Ratings for Loans Receivable on Net of Reserves for Loan Losses	The following table summarizes, by year of origination, the Company’s internal ratings for loans receivable, net of unamortized discounts, fees, and reserves for loan losses, as of December 31, 2021 (in thousands): Investment Type Year of Origination Total 2021 2020 2019 2018 2017 Prior Secured loans Risk rating: Performing loans $ 309,494 $ 78,606 $ 2,191 $ — $ — $ — $ 390,291 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ 309,494 $ 78,606 $ 2,191 $ — $ — $ — $ 390,291 Mezzanine and other Risk rating: Performing loans $ 23,901 $ 1,522 $ 97 $ — $ — $ — $ 25,520 Watch list loans — — — — — — — Workout loans — — — — — — — Total mezzanine and other $ 23,901 $ 1,522 $ 97 $ — $ — $ — $ 25,520
Schedule of Financing Receivable, Allowance for Credit Loss	The following table summarizes the Company’s reserve for loan losses (in thousands): December 31, 2021 December 31, 2020 Secured Loans Mezzanine and Other Total Secured Loans Mezzanine and Other Total Reserve for loan losses, beginning of period $ 3,152 $ 7,128 $ 10,280 $ — $ — $ — Cumulative-effect of adopting ASU 2016-13 to beginning retained earnings — — — 513 907 1,420 Provision for expected loan losses 793 896 1,689 2,898 14,356 17,254 Expected loan losses related to loans sold or repaid (1) (2,141) (8,015) (10,156) (259) (8,135) (8,394) Reserve for loan losses, end of period $ 1,804 $ 9 $ 1,813 $ 3,152 $ 7,128 $ 10,280 _______________________________________ (1) Includes six loans sold or repaid during t he year ended December 31, 2021 and three loans sold or repaid during the year ended December 31, 2020.

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2021
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, excluding investments classified as discontinued operations (in thousands): Carrying Amount December 31, Entity (1)(2) Segment Property Count (3) Ownership % (3) 2021 2020 SWF SH JV Other 19 54 $ 355,394 $ 357,581 Life Science JV Life science 1 49 25,605 24,879 Needham Land Parcel JV (4) Life science — 38 13,566 — Medical Office JVs (5) Medical office 3 20 - 67 9,069 9,673 Other JVs (6) Other — — — 9,157 CCRC JV (7) CCRC — — — 1,581 $ 403,634 $ 402,871 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Excludes the Otay Ranch JV (90% ownership percentage), which was classified as discontinued operations and had an aggregate carrying value of $6 million at December 31, 2020 (see Note 5). In April 2021, the SHOP property in the Otay Ranch JV was sold, resulting in the Company’s share of proceeds of $32 million and a gain on sale of $5 million recognized in equity income (loss) from unconsolidated joint ventures within income (loss) from discontinued operations for the year ended December 31, 2021. (3) Property count and ownership percentage are as of December 31, 2021. (4) In December 2021, the Company acquired a 38% interest in a life science development joint venture in Needham, Massachusetts for $13 million. Land held for development is excluded from the property count as of December 31, 2021. (5) Includes three unconsolidated medical office joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%); (ii) Ventures III (30%); and (iii) Suburban Properties, LLC (67%). (6) At December 31, 2020, includes two unconsolidated other joint ventures in which the Company’s ownership percentage is as follows: (i) Discovery Naples JV (41%) and (ii) Discovery Sarasota JV (47%). In April 2021, the Company sold its two preferred equity investments for their carrying value as part of the Discovery SHOP Portfolio disposition (see Note 5). (7) See Note 3 for a discussion of the 2019 MTCA with Brookdale, including the acquisition of Brookdale’s interest in 13 of the 15 communities in the CCRC JV in January 2020. In May 2021, the two remaining CCRCs were sold for $38 million, $19 million of which represents the Company’s 49% interest, resulting in an immaterial gain on sale recorded within equity income (loss) from unconsolidated joint ventures for the year ended December 31, 2021.

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2021
Intangibles
Schedule of Intangible Lease Assets	The following table summarizes the Company’s intangible lease assets (dollars in thousands): December 31, Intangible lease assets 2021 2020 Gross intangible lease assets $ 797,675 $ 761,328 Accumulated depreciation and amortization (277,915) (241,411) Intangible assets, net (1) $ 519,760 $ 519,917 Weighted average remaining amortization period in years 6 5 _______________________________________ (1) Excludes intangible assets reported in assets held for sale and discontinued operations, net of zero and $25 million as of December 31, 2021 and 2020.
Schedule of Intangible Lease Liabilities	Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands): December 31, Intangible lease liabilities 2021 2020 Gross intangible lease liabilities $ 234,917 $ 194,565 Accumulated depreciation and amortization (57,685) (50,366) Intangible liabilities, net $ 177,232 $ 144,199 Weighted average remaining amortization period in years 8 8
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, 2021 2020 2019 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 106,106 $ 89,301 $ 46,828 Rental and related revenues related to amortization of net below market lease liabilities (1) 20,597 11,717 6,319 _______________________________________ (1) Excludes amortization related to assets classified as discontinued operations.
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) 2022 $ 24,008 $ 103,753 2023 23,250 98,511 2024 22,407 94,826 2025 21,383 83,308 2026 18,912 51,407 Thereafter 55,032 75,715 $ 164,992 $ 507,520 _______________________________________ (1) The amortization of net below market lease intangibles is recorded as an increase to rental and related revenues. (2) The amortization of lease-up intangibles is recorded to depreciation and amortization expense.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Senior Unsecured Notes	The following table summarizes the Company’s senior unsecured notes issuances, including the green bond offerings discussed above, for the periods presented (dollars in thousands): Issue Date Amount Coupon Rate Maturity Date Year ended December 31, 2021: November 24, 2021 $ 500,000 2.13 % 2028 July 12, 2021 450,000 1.35 % 2027 Year ended December 31, 2020: June 23, 2020 600,000 2.88 % 2031 Year ended December 31, 2019: November 21, 2019 750,000 3.00 % 2030 July 5, 2019 650,000 3.25 % 2026 July 5, 2019 650,000 3.50 % 2029
Summary of Senior Unsecured Notes Payoffs	The following table summarizes the Company’s senior unsecured notes repurchases and redemptions for the periods presented (dollars in thousands): Payoff Date Amount Coupon Rate Maturity Date Year ended December 31, 2021: May 19, 2021 (1) $ 251,806 3.40 % 2025 May 19, 2021 (1) 298,194 4.00 % 2025 February 26, 2021 (2) 188,000 4.25 % 2023 February 26, 2021 (2) 149,000 4.20 % 2024 February 26, 2021 (2) 331,000 3.88 % 2024 January 28, 2021 (2) 112,000 4.25 % 2023 January 28, 2021 (2) 201,000 4.20 % 2024 January 28, 2021 (2) 469,000 3.88 % 2024 Year ended December 31, 2020: July 9, 2020 (3) 300,000 3.15 % 2022 June 24, 2020 (4) 250,000 4.25 % 2023 Year ended December 31, 2019: November 21, 2019 (5) 350,000 4.00 % 2022 July 22, 2019 (6) 800,000 2.63 % 2020 July 8, 2019 (6) 250,000 4.00 % 2022 July 8, 2019 (6) 250,000 4.25 % 2023 _______________________________________ (1) Upon repurchasing a portion of the 3.40% and 4.00% senior unsecured notes due 2025, the Company recognized a $61 million loss on debt extinguishment during the year ended December 31, 2021. (2) Upon completing the repurchases and redemptions of all outstanding 4.25%, 4.20%, and 3.88% senior unsecured notes due 2023 and 2024, the Company recognized a $164 million loss on debt extinguishment during the year ended December 31, 2021. (3) Upon completing the redemption of all outstanding 3.15% senior unsecured notes due 2022, the Company recognized an $18 million loss on debt extinguishment during the year ended December 31, 2020. (4) Upon repurchasing a portion of the 4.25% senior unsecured notes due 2023, the Company recognized a $26 million loss on debt extinguishment during the year ended December 31, 2020. (5) Upon repurchasing the 4.00% senior unsecured notes due in 2022, the Company recognized a $22 million loss on debt extinguishment during the year ended December 31, 2019. (6) Upon completing the redemption of the 2.63% senior unsecured notes due in 2020 and repurchasing a portion of the 4.25% senior unsecured notes due in 2023 and the 4.00% senior unsecured notes due in 2022, the Company recognized a $35 million loss on debt extinguishment during the year ended December 31, 2019.
Summary of Stated Debt Maturities and Scheduled Principal Repayments	The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2021 (dollars in thousands): Senior Unsecured Notes (2) Mortgage Debt (3) Year Bank Line of Credit Commercial Paper (1) Amount Interest Rate Amount Interest Rate Total 2022 $ — $ — $ — — % $ 5,048 3.80 % $ 5,048 2023 — — — — % 90,089 3.80 % 90,089 2024 — — — — % 7,024 3.81 % 7,024 2025 — — 800,000 3.93 % 3,209 3.80 % 803,209 2026 — 1,165,975 650,000 3.39 % 244,523 3.11 % 2,060,498 Thereafter — — 3,250,000 3.24 % 366 5.91 % 3,250,366 — 1,165,975 4,700,000 350,259 6,216,234 Premiums, (discounts), and debt issuance costs, net — — (48,067) 1,822 (46,245) $ — $ 1,165,975 $ 4,651,933 $ 352,081 $ 6,169,989 _______________________________________ (1) Commercial Paper Program borrowings are backstopped by the Revolving Facility. As such, the Company calculates the weighted average remaining term of its Commercial Paper Program borrowings using the maturity date of the Revolving Facility. (2) Effective interest rates on the senior unsecured notes range from 1.54% to 6.91% with a weighted average effective interest rate of 3.39% and a weighted average maturity of 7 years. (3) Effective interest rates on the mortgage debt range from 2.59% to 5.91% with a weighted average effective interest rate of 3.31% and a weighted average maturity of 4 years.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Summary of Material Commitments	The following table summarizes the Company’s material commitments, excluding debt service obligations (see Note 11), obligations as the lessee under operating leases (see Note 7), and potential future obligations related to redeemable noncontrolling interests (see Note 13) at December 31, 2021 (in thousands): Amount Development and redevelopment commitments (1) $ 386,647 Lease and other contractual commitments (2) 82,644 Construction loan commitments (3) 57,881 Total $ 527,172 _______________________________________ (1) Represents construction and other commitments as of December 31, 2021 for developments and redevelopments in progress and includes allowances for tenant improvements that the Company has provided as a lessor. (2) Represents the Company's commitments, as lessor, under signed leases and contracts for operating properties as of December 31, 2021 and includes allowances for tenant improvements and leasing commissions. Excludes allowances for tenant improvements related to developments and redevelopments in progress for which the Company has executed an agreement with a general contractor to complete the tenant improvements (recognized in the “Development and redevelopment commitments” line). (3) Represents loan commitments as of December 31, 2021 to fund senior housing redevelopment and capital expenditure projects.

Equity and Redeemable Noncont_2

Equity and Redeemable Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Company's Other Common Stock Activities	The following table summarizes the Company’s other common stock activities (in thousands): Year Ended December 31, 2021 2020 2019 Dividend Reinvestment and Stock Purchase Plan $ 81 $ 181 $ 336 Conversion of DownREIT units 8 120 213 Exercise of stock options 97 54 152 Vesting of restricted stock units 924 668 468 Repurchase of common stock 418 298 162
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2021 2020 Unrealized gains (losses) on derivatives, net $ — $ (81) Supplemental Executive Retirement Plan minimum liability (3,147) (3,604) Total accumulated other comprehensive income (loss) $ (3,147) $ (3,685)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts): Year Ended December 31, 2021 2020 2019 Numerator Income (loss) from continuing operations $ 137,728 $ 160,507 $ 175,469 Noncontrolling interests' share in continuing operations (17,851) (14,394) (14,558) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 119,877 146,113 160,911 Less: Participating securities' share in continuing operations (3,269) (2,416) (1,543) Income (loss) from continuing operations applicable to common shares 116,608 143,697 159,368 Income (loss) from discontinued operations 388,202 267,746 (115,408) Noncontrolling interests' share in discontinued operations (2,539) (296) 27 Net income (loss) applicable to common shares $ 502,271 $ 411,147 $ 43,987 Denominator Basic weighted average shares outstanding 538,930 530,555 486,255 Dilutive potential common shares - equity awards (1) 310 300 309 Dilutive potential common shares - forward equity agreements (2) 1 201 2,771 Diluted weighted average common shares 539,241 531,056 489,335 Basic earnings (loss) per common share Continuing operations $ 0.22 $ 0.27 $ 0.33 Discontinued operations 0.71 0.50 (0.24) Net income (loss) applicable to common shares $ 0.93 $ 0.77 $ 0.09 Diluted earnings (loss) per common share: Continuing operations $ 0.22 $ 0.27 $ 0.33 Discontinued operations 0.71 0.50 (0.24) Net income (loss) applicable to common shares $ 0.93 $ 0.77 $ 0.09 _______________________________________ (1) For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options).

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary Restricted Stock Activity	The following table summarizes restricted stock award activity, including performance stock units, for the year ended December 31, 2021 (units in thousands): Restricted Weighted Unvested at January 1, 2021 1,683 $ 32.02 Granted 963 29.62 Vested (924) 26.39 Forfeited (30) 32.56 Unvested at December 31, 2021 1,692 33.72

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 715,844 $ 671,242 $ 471,325 $ 37,773 $ — $ 1,896,184 Government grant income (1) — — 1,412 — — 1,412 Less: Interest income — — — (37,773) — (37,773) Healthpeak's share of unconsolidated joint venture total revenues 5,757 2,882 6,903 67,835 — 83,377 Healthpeak's share of unconsolidated joint venture government grant income — — 200 1,549 — 1,749 Noncontrolling interests' share of consolidated joint venture total revenues (292) (35,363) — — — (35,655) Operating expenses (169,044) (223,383) (380,865) 13 — (773,279) Healthpeak's share of unconsolidated joint venture operating expenses (1,836) (1,174) (6,639) (51,866) — (61,515) Noncontrolling interests' share of consolidated joint venture operating expenses 87 10,071 — — — 10,158 Adjustments to NOI (2) (46,589) (11,118) 3,241 (47) — (54,513) Adjusted NOI 503,927 413,157 95,577 17,484 — 1,030,145 Plus: Adjustments to NOI (2) 46,589 11,118 (3,241) 47 — 54,513 Interest income — — — 37,773 — 37,773 Interest expense (232) (2,837) (7,701) — (147,210) (157,980) Depreciation and amortization (303,196) (255,746) (125,344) — — (684,286) General and administrative — — — — (98,303) (98,303) Transaction costs (24) (323) (1,445) (49) — (1,841) Impairments and loan loss reserves, net — (21,577) — (1,583) — (23,160) Gain (loss) on sales of real estate, net — 190,590 — — — 190,590 Gain (loss) on debt extinguishments — — — — (225,824) (225,824) Other income (expense), net 55 (2,725) 2,141 486 6,309 6,266 Less: Government grant income — — (1,412) — — (1,412) Less: Healthpeak's share of unconsolidated joint venture NOI (3,921) (1,708) (464) (17,518) — (23,611) Plus: Noncontrolling interests' share of consolidated joint venture NOI 205 25,292 — — — 25,497 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 243,403 355,241 (41,889) 36,640 (465,028) 128,367 Income tax benefit (expense) — — — — 3,261 3,261 Equity income (loss) from unconsolidated joint ventures 1,118 794 1,484 2,704 — 6,100 Income (loss) from continuing operations 244,521 356,035 (40,405) 39,344 (461,767) 137,728 Income (loss) from discontinued operations — — — — 388,202 388,202 Net income (loss) $ 244,521 $ 356,035 $ (40,405) $ 39,344 $ (73,565) $ 525,930 _______________________________________ (1) Represents government grant income received under the CARES Act, which is recorded in other income (expense), net in the Consolidated Statements of Operations (see Note 2). (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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures. For the year ended December 31, 2020: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 569,296 $ 622,398 $ 436,494 $ 16,687 $ — $ 1,644,875 Government grant income (1) — — 16,198 — — 16,198 Less: Interest income — — — (16,553) — (16,553) Healthpeak's share of unconsolidated joint venture total revenues 448 2,772 35,392 74,023 — 112,635 Healthpeak's share of unconsolidated joint venture government grant income — — 920 359 — 1,279 Noncontrolling interests' share of consolidated joint venture total revenues (239) (34,597) — — — (34,836) Operating expenses (138,005) (204,008) (440,528) — — (782,541) Healthpeak's share of unconsolidated joint venture operating expenses (137) (1,129) (32,125) (53,779) — (87,170) Noncontrolling interests' share of consolidated joint venture operating expenses 72 10,282 — — — 10,354 Adjustments to NOI (2) (20,133) (5,544) 97,072 433 — 71,828 Adjusted NOI 411,302 390,174 113,423 21,170 — 936,069 Plus: Adjustments to NOI (2) 20,133 5,544 (97,072) (433) — (71,828) Interest income — — — 16,553 — 16,553 Interest expense (234) (400) (7,227) — (210,475) (218,336) Depreciation and amortization (217,921) (222,165) (113,851) (12) — (553,949) General and administrative — — — — (93,237) (93,237) Transaction costs (236) — (17,994) (112) — (18,342) Impairments and loan loss reserves, net (14,671) (10,208) — (18,030) — (42,909) Gain (loss) on sales of real estate, net — 90,390 — (40) — 90,350 Gain (loss) on debt extinguishments — — — — (42,912) (42,912) Other income (expense), net — — 187,844 41,707 5,133 234,684 Less: Government grant income — — (16,198) — — (16,198) Less: Healthpeak's share of unconsolidated joint venture NOI (311) (1,643) (4,187) (20,603) — (26,744) Plus: Noncontrolling interests' share of consolidated joint venture NOI 167 24,315 — — — 24,482 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 198,229 276,007 44,738 40,200 (341,491) 217,683 Income tax benefit (expense) (3) — — — — 9,423 9,423 Equity income (loss) from unconsolidated joint ventures (40) 798 (1,547) (65,810) — (66,599) Income (loss) from continuing operations 198,189 276,805 43,191 (25,610) (332,068) 160,507 Income (loss) from discontinued operations — — — — 267,746 267,746 Net income (loss) $ 198,189 $ 276,805 $ 43,191 $ (25,610) $ (64,322) $ 428,253 _______________________________________ (1) Represents government grant income received under the CARES Act, which is recorded in other income (expense), net in the Consolidated Statements of Operations (see Note 2). (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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures. (3) Income tax benefit (expense) for the year ended December 31, 2020 includes: (i) a $51 million tax benefit recognized in conjunction with internal restructuring activities, which resulted in the transfer of assets subject to certain deferred tax liabilities from taxable REIT subsidiaries to the REIT in connection with the 2019 MTCA (see Note 3), (ii) a $33 million income tax expense related to the valuation allowance on deferred tax assets that are no longer expected to be realized (see Note 17), and (iii) a $3.7 million net tax benefit recognized due to changes under the CARES Act, which resulted in net operating losses being utilized at a higher income tax rate than previously available. For the year ended December 31, 2019: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 440,784 $ 621,171 $ 3,010 $ 175,374 $ — $ 1,240,339 Less: Interest income — — — (9,844) — (9,844) Healthpeak's share of unconsolidated joint venture total revenues — 2,810 211,377 23,834 — 238,021 Noncontrolling interests' share of consolidated joint venture total revenues (187) (33,998) — 2,355 — (31,830) Operating expenses (107,472) (201,620) (2,215) (93,937) — (405,244) Healthpeak's share of unconsolidated joint venture operating expenses — (1,107) (170,473) (1,996) — (173,576) Noncontrolling interests' share of consolidated joint venture operating expenses 59 10,109 — (1,536) — 8,632 Adjustments to NOI (1) (22,103) (4,602) 16,985 (5,449) — (15,169) Adjusted NOI 311,081 392,763 58,684 88,801 — 851,329 Plus: Adjustments to NOI (1) 22,103 4,602 (16,985) 5,449 — 15,169 Interest income — — — 9,844 — 9,844 Interest expense (277) (434) — — (216,901) (217,612) Depreciation and amortization (168,339) (221,175) — (45,677) — (435,191) General and administrative — — — — (92,966) (92,966) Transaction costs — — — — (1,963) (1,963) Impairments and loan loss reserves, net — (17,332) — (376) — (17,708) Gain (loss) on sales of real estate, net 3,651 3,139 — (6,830) — (40) Gain (loss) on debt extinguishments — — — — (58,364) (58,364) Other income (expense), net — — (5,665) 161,886 8,848 165,069 Less: Healthpeak's share of unconsolidated joint venture NOI — (1,703) (40,904) (21,838) — (64,445) Plus: Noncontrolling interests' share of consolidated joint venture NOI 128 23,889 — (819) — 23,198 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 168,347 183,749 (4,870) 190,440 (361,346) 176,320 Income tax benefit (expense) — — — — 5,479 5,479 Equity income (loss) from unconsolidated joint ventures — 858 (16,313) 9,125 — (6,330) Income (loss) from continuing operations 168,347 184,607 (21,183) 199,565 (355,867) 175,469 Income (loss) from discontinued operations — — — — (115,408) (115,408) Net income (loss) $ 168,347 $ 184,607 $ (21,183) $ 199,565 $ (471,275) $ 60,061 _______________________________________ (1) 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, and termination fees. Includes the Company’s share of income (loss) generated by unconsolidated joint ventures and excludes noncontrolling interests’ share of income (loss) generated by consolidated joint ventures.
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 2021 2020 2019 Life science $ 715,844 $ 569,296 $ 440,784 Medical office 671,242 622,398 621,171 CCRC 471,325 436,494 3,010 Other non-reportable 37,773 16,687 175,374 Total revenues $ 1,896,184 $ 1,644,875 $ 1,240,339
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 2021 2020 Life science $ 8,257,990 $ 7,205,949 Medical office 6,152,512 5,197,777 CCRC 2,233,377 2,179,294 Reportable segment assets 16,643,879 14,583,020 Accumulated depreciation and amortization (3,125,416) (2,658,890) Net reportable segment assets 13,518,463 11,924,130 Other non-reportable segment assets 794,172 584,432 Assets held for sale and discontinued operations, net 37,190 2,626,306 Other non-segment assets 907,694 785,221 Total assets $ 15,257,519 $ 15,920,089

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Common Stock Distributions	The following table shows the characterization of the Company’s annual common stock distributions per share: Year Ended December 31, 2021 2020 2019 Ordinary dividends (1) $ 0.1523 $ 0.7139 $ 0.7633 Capital gains (2) 0.3800 0.5298 0.2714 Nondividend distributions 0.6677 0.2363 0.4453 $ 1.2000 $ 1.4800 $ 1.4800 _______________________________________ (1) For the year ended December 31, 2021 the amount includes $0.1370 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.0153 of qualified dividend income for purposes of Code Section 1(h)(11). For the years ended December 31, 2020 and 2019, all $0.7139 and $0.7633, respectively, of ordinary dividends qualified as business income for purposes of Code Section 199A. (2) Pursuant to Treasury Regulation §1.1061-6(c), the Company is disclosing additional information related to the capital gain dividends for purposes of Section 1061 of the Code. Code Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.” The “One Year Amounts” and “Three Year Amounts” required to be disclosed are both zero with respect to the 2021 distributions, since all capital gains relate to Code Section 1231 gains.
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, 2021 2020 2019 Current Federal $ 126 $ (9,164) $ 104 State 1,003 1,431 445 Total current $ 1,129 $ (7,733) $ 549 Deferred Federal $ (3,469) $ (2,849) $ (5,920) State (921) 1,159 (108) Total deferred $ (4,390) $ (1,690) $ (6,028) Total income tax expense (benefit) from continuing operations $ (3,261) $ (9,423) $ (5,479)
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 (benefit) recorded (in thousands): Year Ended December 31, 2021 2020 2019 Tax expense (benefit) at U.S. federal statutory income tax rate on income or loss subject to tax $ (3,345) $ 15,016 $ (6,169) State income tax expense (benefit), net of federal tax (706) 4,211 (1,830) Gross receipts and margin taxes 989 980 1,108 Effect of permanent differences — — 20 Return to provision adjustments 4 707 54 Valuation allowance for deferred tax assets (203) 24,051 22 Tax rate differential ─ NOL carryback under the CARES Act — (3,732) — Change in tax status of TRS — (50,656) 1,316 Total income tax expense (benefit) from continuing operations $ (3,261) $ (9,423) $ (5,479)
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, 2021 2020 2019 Deferred tax assets: Investment in unconsolidated joint ventures $ — $ 2,333 $ 40,466 Real estate 129 3,895 — Net operating loss carryforward 71,744 68,444 33,771 Expense accruals 14,229 15,478 3,258 Deferred revenue 104,397 103,713 — Total deferred tax assets 190,499 193,863 77,495 Valuation allowance (35,772) (33,519) (4,878) Deferred tax assets, net of valuation allowance $ 154,727 $ 160,344 $ 72,617 Deferred tax liabilities: Real estate $ 61,097 $ 72,059 $ — Other 648 1,094 — Deferred tax liabilities $ 61,745 $ 73,153 $ — Net deferred tax assets $ 92,982 $ 87,191 $ 72,617
Schedule of Income Tax Contingencies	The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2021 2020 2019 Total unrecognized tax benefits at January 1 $ 469 $ 469 $ — Gross amount of increases for prior years' tax positions — — 469 Total unrecognized tax benefits at December 31 $ 469 $ 469 $ 469

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Supplemental cash flow information: Interest paid, net of capitalized interest $ 173,044 $ 209,843 $ 201,784 Income taxes paid (refunded) 4,521 (786) 1,426 Capitalized interest 24,084 27,041 30,459 Cash paid for amounts included in the measurement of lease liability for operating leases 10,620 9,940 8,158 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 28,866 32,208 5,733 Decrease in ROU asset with corresponding change in lease liability related to operating leases 8,410 — — Seller financing provided on disposition of real estate asset 559,745 73,498 44,812 Accrued construction costs 179,995 95,293 126,006 Net noncash impact from the consolidation of previously unconsolidated joint ventures — 369,223 17,850 Refundable entrance fees assumed with real estate acquisitions — 307,954 — Retained investment in connection with SWF SH JV — — 427,328 Conversion of DFLs to real estate — — 350,540 Carrying value of mortgages assumed by buyer in real estate dispositions 143,676 — — Mortgages assumed with real estate acquisitions — 251,280 172,565 Vesting of restricted stock units and conversion of non-managing member units into common stock 1,125 4,746 5,614 The following table summarizes certain cash flow information related to assets classified as discontinued operations (in thousands): Year Ended December 31, 2021 2020 2019 Depreciation and amortization of real estate, in-place lease, and other intangibles $ — $ 143,194 $ 224,798 Development, redevelopment, and other major improvements of real estate 5,780 30,769 74,919 Leasing costs, tenant improvements, and recurring capital expenditures 2,636 12,695 22,617
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table summarizes cash, cash equivalents and restricted cash (in thousands): Year Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 Continuing operations Discontinued operations Total Beginning of year: Cash and cash equivalents $ 44,226 $ 80,398 $ 53,979 $ 53,085 $ 63,834 $ 56,811 $ 97,311 $ 144,232 $ 110,790 Restricted cash 67,206 13,385 7,166 17,168 27,040 21,890 84,374 40,425 29,056 Cash, cash equivalents and restricted cash $ 111,432 $ 93,783 $ 61,145 $ 70,253 $ 90,874 $ 78,701 $ 181,685 $ 184,657 $ 139,846 End of year: Cash and cash equivalents $ 158,287 $ 44,226 $ 80,398 $ 7,707 $ 53,085 $ 63,834 $ 165,994 $ 97,311 $ 144,232 Restricted cash 53,454 67,206 13,385 — 17,168 27,040 53,454 84,374 40,425 Cash, cash equivalents and restricted cash $ 211,741 $ 111,432 $ 93,783 $ 7,707 $ 70,253 $ 90,874 $ 219,448 $ 181,685 $ 184,657

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) Continuing operations: CMBS and LLC investment Other assets, net $ 36,101 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 13,566 _______________________________________
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, 2021 2020 Assets Buildings and improvements $ 2,303,920 $ 2,988,599 Development costs and construction in progress 82,303 85,595 Land 548,168 433,574 Accumulated depreciation and amortization (551,097) (602,491) Net real estate 2,383,294 2,905,277 Accounts receivable, net 5,455 12,009 Cash and cash equivalents 22,295 16,550 Restricted cash 114 7,977 Intangible assets, net 117,180 179,027 Assets held for sale and discontinued operations, net 754 704,966 Right-of-use asset, net 107,993 95,407 Other assets, net 62,886 59,063 Total assets $ 2,699,971 $ 3,980,276 Liabilities Mortgage debt $ 144,350 $ 39,085 Intangible liabilities, net 23,909 56,467 Liabilities related to assets held for sale and discontinued operations, net 1,677 190,919 Lease liability 99,213 97,605 Accounts payable, accrued liabilities, and other liabilities 58,440 102,391 Deferred revenue 21,546 90,183 Total liabilities $ 349,135 $ 576,650 Total assets and liabilities related to assets held for sale and discontinued operations include VIE assets and liabilities as follows (in thousands): December 31, 2021 2020 Assets Buildings and improvements $ — $ 639,759 Development costs and construction in progress — 68 Land — 106,209 Accumulated depreciation and amortization — (57,235) Net real estate — 688,801 Accounts receivable, net 62 1,700 Cash and cash equivalents 59 6,306 Restricted cash — 3,124 Right-of-use asset, net — 1,391 Other assets, net 633 3,644 Total assets $ 754 $ 704,966 Liabilities Mortgage debt $ — $ 176,702 Lease liability — 1,392 Accounts payable, accrued liabilities, and other liabilities 1,677 11,003 Deferred revenue — 1,822 Total liabilities $ 1,677 $ 190,919

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2021
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, excluding assets classified as discontinued operations: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2021 2020 2021 2020 2019 California 34 30 28 21 22 Florida 11 10 17 14 2 Texas 10 9 11 9 11 Massachusetts 16 11 9 4 2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Financial Instruments, Owned, at Fair Value [Abstract]
Summary of the Carrying Values and Fair Values of Financial Instruments	The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2021 (3) 2020 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 415,811 $ 437,607 $ 195,375 $ 201,228 Marketable debt securities (2) 21,003 21,003 20,355 20,355 Interest rate cap assets (2) 397 397 — — Bank line of credit and commercial paper (2) 1,165,975 1,165,975 129,590 129,590 Term loan (2) — — 249,182 249,182 Senior unsecured notes (1) 4,651,933 5,054,747 5,697,586 6,517,650 Mortgage debt (2)(4) 352,081 352,800 221,621 221,181 Interest rate swap liabilities (2)(5) — — 81 81 _______________________________________ (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, swaps, and caps, standardized pricing models in which significant inputs or value drivers are observable in active markets. For bank line of credit, commercial paper, and term loan, 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, 2021 and 2020, there were no material transfers of financial assets or liabilities within the fair value hierarchy. (4) As of December 31, 2020, excludes mortgage debt on assets held for sale and discontinued operations of $319 million. (5) Interest rate swap liabilities are recorded in liabilities related to assets held for sale and discontinued operations, net on the Consolidated Balance Sheets.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the Company’s outstanding interest rate cap agreements as of December 31, 2021 (in thousands): Date Entered Maturity Date Hedge Designation Notional Strike Rate Index Fair Value (1) April 2021 (2) May 2024 Non-designated $ 142,100 2.00 % 1 mo. USD-LIBOR-BBA $ 397 _____________________________ (1) Derivative assets are recorded in other assets, net in the Consolidated Balance Sheets. (2) Represents two interest rate cap agreements that manage the Company’s exposure to variable cash flows on certain mortgage debt borrowings by limiting interest rates.

Accounts Payable, Accrued Lia_2

Accounts Payable, Accrued Liabilities, and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The following table summarizes the Company’s accounts payable, accrued liabilities, and other liabilities, excluding accounts payable, accrued liabilities, and other liabilities related to assets classified as discontinued operations (in thousands): December 31, 2021 2020 Refundable entrance fees (1) $ 288,409 $ 317,444 Accrued construction costs 179,995 95,293 Accrued interest 59,342 78,735 Other accounts payable, and accrued liabilities 227,638 269,145 Accounts payable, accrued liabilities, and other liabilities $ 755,384 $ 760,617 _______________________________________ (1) At December 31, 2021 and 2020, unamortized nonrefundable entrance fee liabilities were

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Quarterly Information	The following tables summarize selected quarterly information for the years ended December 31, 2021 and 2020 (in thousands, except per share amounts): Three Months Ended 2021 March 31 June 30 September 30 December 31 Total revenues $ 455,276 $ 476,238 $ 481,465 $ 483,205 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures (121,900) 166,435 58,329 25,503 Income (loss) from continuing operations (120,585) 168,065 61,305 28,943 Income (loss) from discontinued operations 270,008 113,960 601 3,633 Net income (loss) 149,423 282,025 61,906 32,576 Net income (loss) applicable to Healthpeak Properties, Inc. 145,788 276,280 54,711 28,761 Dividends paid per common share 0.30 0.30 0.30 0.30 Basic earnings (loss) per common share: Continuing operations (0.23) 0.30 0.10 0.05 Discontinued operations 0.50 0.21 0.00 0.00 Diluted earnings (loss) per common share: Continuing operations (0.23) 0.30 0.10 0.05 Discontinued operations 0.50 0.21 0.00 0.00 Three Months Ended 2020 March 31 June 30 September 30 December 31 Total revenues $ 381,054 $ 408,559 $ 423,565 $ 431,697 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 128,410 78,182 13,957 (2,866) Income (loss) from continuing operations 147,132 60,341 (27,762) (19,204) Income (loss) from discontinued operations 135,408 (5,292) (31,819) 169,449 Net income (loss) 282,540 55,049 (59,581) 150,245 Net income (loss) applicable to Healthpeak Properties, Inc. 279,080 51,506 (63,417) 146,394 Dividends paid per common share 0.37 0.37 0.37 0.37 Basic earnings (loss) per common share: Continuing operations 0.28 0.10 (0.06) (0.04) Discontinued operations 0.27 (0.01) (0.06) 0.31 Diluted earnings (loss) per common share: Continuing operations 0.28 0.10 (0.06) (0.04) Discontinued operations 0.26 (0.01) (0.06) 0.31

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Adjustment to Additional Paid-In Capital and Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable, accrued liabilities, and other liabilities	$ 755,384	$ 760,617
Total liabilities	8,111,415	8,572,743
Redeemable noncontrolling interests	87,344	57,396
Additional paid-in capital	10,100,294	10,175,235
Total stockholders’ equity	6,515,470	6,733,723
Total equity	7,058,760	7,289,950	$ 6,658,859	$ 6,512,591
Total liabilities and equity	$ 15,257,519	15,920,089
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable, accrued liabilities, and other liabilities		763,391
Total liabilities		8,575,517
Redeemable noncontrolling interests		0
Additional paid-in capital		10,229,857
Total stockholders’ equity		6,788,345
Total equity		7,344,572
Total liabilities and equity		15,920,089
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable, accrued liabilities, and other liabilities		(2,774)	(2,491)
Total liabilities		(2,774)
Redeemable noncontrolling interests		57,396	11,106
Additional paid-in capital		(54,622)
Total stockholders’ equity		(54,622)
Total equity		(54,622)	$ (8,615)
Total liabilities and equity		$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019		Jan. 31, 2020	Jan. 01, 2020	Jan. 01, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
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
Advertising expense	$ 11,000	$ 18,000	$ 13,000
Cumulative effect of new accounting principle	7,058,760	7,289,950	6,658,859					$ 6,512,591
Present value of lease liability	204,547	179,895
Right-of-use asset, net	233,942	192,349
Intangible assets, net	$ 519,760	519,917
Building and Building Improvements
Schedule of Equity Method Investments [Line Items]
Property, plant and equipment, useful life	50 years
Brookedale MTCA | CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Non refundable entrance fee liabilities	$ 496,000	484,000			$ 436,000
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Advertising expense	3,000	12,000	13,000
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
Cumulative Dividends In Excess Of Earnings
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle	$ (4,120,774)	$ (3,976,232)	(3,601,199)					(2,927,196)
Cumulative Effect, Period of Adoption, Adjustment
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle			(1,524)	[1]		$ 2,000		590	[2]
Cumulative Effect, Period of Adoption, Adjustment | Cumulative Dividends In Excess Of Earnings
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle			$ (1,524)	[1]				$ 590	[2]
Cumulative Effect, Period of Adoption, Adjustment | Cumulative Dividends In Excess Of Earnings | ASU 2016-02
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle							$ 1,000
[1]	On January 1, 2020, the Company adopted a series of ASUs related to accounting for credit losses 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 Accounting Standards Updates (“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.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Government Grant Receivables Cares Act (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 07, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event
Schedule of Equity Method Investments [Line Items]
Government Grant Income	$ 7,000
Subsequent Event | Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Government Grant Income	$ 600
Government Assistance C A R E S Act
Schedule of Equity Method Investments [Line Items]
Government Grant Income		$ 6,830	$ 32,913	$ 0
Government Assistance C A R E S Act | Other Nonoperating Income (Expense)
Schedule of Equity Method Investments [Line Items]
Government Grant Income		1,412	16,198	0
Government Assistance C A R E S Act | Equity Income (Loss) From Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Government Grant Income		1,749	1,279	0
Government Assistance C A R E S Act | Income (loss) From Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Government Grant Income		$ 3,669	$ 15,436	$ 0

Master Transactions and Coope_2

Master Transactions and Cooperation Agreement with Brookdale (Details)	Jan. 31, 2020USD ($)property	May 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Oct. 31, 2019USD ($)property	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)property	Jan. 31, 2021property
Real Estate Properties [Line Items]
Property count | property	15
Capital investment			$ 5,000,000			$ 5,000,000
Loss (gain) upon change of control, net					$ 1,042,000	159,973,000	$ 168,023,000
Long-term debt					6,169,989,000
Gain (loss) on sales of real estate, net					190,590,000	90,350,000	$ (40,000)
Other Non-Reporting Segment | CCRC JV Investment
Real Estate Properties [Line Items]
Property count | property				15
Senior Housing Triple Net
Real Estate Properties [Line Items]
Property count | property				43
Number of assets sold | property							2
Discount rate | Minimum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.10
Discount rate | Maximum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.12
Measurement Input Annual Rent Escalators | Minimum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.02
Measurement Input Annual Rent Escalators | Maximum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.03
Cap rate | Minimum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.07
Cap rate | Maximum
Real Estate Properties [Line Items]
Real estate capitalization rate	0.09
CCRC JV Investment
Real Estate Properties [Line Items]
Investment ownership percentage	49.00%	49.00%					49.00%
Proceeds from sale of buildings		$ 19,000,000
Brookedale MTCA
Real Estate Properties [Line Items]
Number of properties disposed | property	18
Cash proceeds	$ 385,000,000
Gain (loss) on sales of real estate, net	$ 164,000,000
Brookedale MTCA | CCRC JV Investment
Real Estate Properties [Line Items]
Property count | property	15
Number of properties acquired | property	13
Equity method investments	$ 323,000,000
Real estate and intangible assets	1,800,000,000
Refundable entrance fee liabilities	308,000,000
Non refundable entrance fee liabilities	436,000,000		$ 484,000,000		$ 496,000,000	$ 484,000,000
Long-term debt	215,000,000
Working capital	48,000,000
Payments to acquire equity method investments	396,000,000
Brookedale MTCA | CCRC JV Investment | Other Nonoperating Income (Expense)
Real Estate Properties [Line Items]
Loss (gain) upon change of control, net	$ 170,000,000
Brookedale MTCA | 2019 Amended Master Lease
Real Estate Properties [Line Items]
Number of properties to be restructured | property	24							24
Number of leases to be terminated (in properties) | property	1		1
Annual rent escalator	2.40%
Percent of sales proceeds	6.50%
Number of properties to be reallocated | property	14
Amount of future rent to be paid	$ 20,000,000
Capital investment				$ 35,000,000
Capital investment term				5 years
Annual percentage increase				7.00%
Brookedale MTCA | Other Non-Reporting Segment
Real Estate Properties [Line Items]
Property count | property	13
Brookedale MTCA | Other Non-Reporting Segment | CCRC JV Investment
Real Estate Properties [Line Items]
Property count | property	13
Brookedale MTCA | CCRC JV Investment
Real Estate Properties [Line Items]
Interest acquired	51.00%
Purchase cost	$ 1,060,000,000
Non-cash lease and management fee termination loss (income), net	$ 100,000,000
Number of assets sold | property		2
Proceeds from sale of buildings		$ 38,000,000

Real Estate Transactions - 2021

Real Estate Transactions - 2021 Real Estate Investment Acquisitions (Details) $ in Millions

1 Months Ended

12 Months Ended

Jan. 31, 2022USD ($)

Dec. 31, 2021USD ($)aproperty

Oct. 31, 2021USD ($)property

Sep. 30, 2021USD ($)property

Jul. 31, 2021USD ($)property

Jun. 30, 2021USD ($)property

Apr. 30, 2021USD ($)property

Feb. 28, 2021USD ($)property

Dec. 31, 2020USD ($)property

Apr. 30, 2020USD ($)

Dec. 31, 2021USD ($)aproperty

Dec. 31, 2020property

MASSACHUSETTS

Real Estate [Line Items]

Payments to acquire real estate

$ 54

CALIFORNIA

Real Estate [Line Items]

Area of land | a

12

12

Payments to acquire land

$ 128

Number of adjacent sites currently held | property

2

Medical Office

Real Estate [Line Items]

Number of properties acquired | property

2

7

Medical Office | Mortgage Debt

Real Estate [Line Items]

Face amount

$ 142

Medical Office | TENNESSEE

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 13

Medical Office | COLORADO

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 38

Medical Office | UNITED STATES

Real Estate [Line Items]

Number of properties acquired | property

14

Payments to acquire real estate

$ 371

Medical Office | FLORIDA

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 16

Medical Office | KANSAS

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 50

Medical Office | NEW JERSEY

Real Estate [Line Items]

Number of properties acquired | property

3

Payments to acquire real estate

$ 155

Medical Office | TEXAS

Real Estate [Line Items]

Number of properties acquired | property

2

1

Payments to acquire real estate

$ 60

$ 34

Medical Office | MASSACHUSETTS

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 80

Medical Office | WASHINGTON

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 43

Medical Office | LOUISIANA

Real Estate [Line Items]

Number of properties acquired | property

1

Payments to acquire real estate

$ 34

Life science

Real Estate [Line Items]

Number of properties acquired | property

3

Life science | MASSACHUSETTS

Real Estate [Line Items]

Number of properties acquired | property

2

3

3

Payments to acquire real estate

$ 45

73

$ 180

$ 610

$ 320

Life science | MASSACHUSETTS | Subsequent Event

Real Estate [Line Items]

Payments to acquire real estate

$ 72

Life science | MASSACHUSETTS | Mooney Street Parcels

Real Estate [Line Items]

Payments to acquire real estate

123

Life science | MASSACHUSETTS | 25 Spinelli

Real Estate [Line Items]

Payments to acquire real estate

34

Life science | MASSACHUSETTS | 68 Moulton

Real Estate [Line Items]

Payments to acquire real estate

18

Life science | CALIFORNIA

Real Estate [Line Items]

Payments to acquire real estate

$ 20

Life science | CALIFORNIA | Subsequent Event

Real Estate [Line Items]

Payments to acquire real estate

$ 24

Real Estate Transactions - 2020

Real Estate Transactions - 2020 Real Estate Investments (Details) $ in Thousands	1 Months Ended								12 Months Ended
	Dec. 31, 2021USD ($)property	Oct. 31, 2021USD ($)property	Sep. 30, 2021USD ($)property	Dec. 31, 2020USD ($)property	Nov. 30, 2020USD ($)property	Oct. 31, 2020USD ($)property	Jul. 31, 2020USD ($)property	Apr. 30, 2020USD ($)	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Real Estate [Line Items]
Proceeds from divestiture of interest in joint venture									$ 0	$ 0	$ 89,868
Loss (gain) upon change of control, net									(1,042)	$ (159,973)	$ (168,023)
Long-term debt, gross	$ 6,216,234								$ 6,216,234
Waldwick
Real Estate [Line Items]
Number of properties acquired | property						1
Investment ownership percentage						100.00%
Additional ownership percentage acquired						15.00%
Payments to acquire real estate joint ventures						$ 4,000
Gain on consolidation						6,000
MBK JV
Real Estate [Line Items]
Number of properties acquired | property					1
Proceeds from divestiture of interest in joint venture					$ 11,000
Loss (gain) upon change of control, net					16,000
Long-term debt, gross					$ 36,000
MBK JV | Land
Real Estate [Line Items]
Number of properties acquired | property					1
MASSACHUSETTS
Real Estate [Line Items]
Payments to acquire real estate				$ 54,000
MASSACHUSETTS | Life Science JV
Real Estate [Line Items]
Investment ownership percentage				49.00%						49.00%
Medical Office
Real Estate [Line Items]
Number of properties acquired | property									2	7
Medical Office | MASSACHUSETTS
Real Estate [Line Items]
Payments to acquire real estate		$ 80,000
Number of properties acquired | property		1
Medical Office | ARIZONA
Real Estate [Line Items]
Payments to acquire real estate							$ 27,000
Number of properties acquired | property							1
Medical Office | Indiana, Missouri, Illinois
Real Estate [Line Items]
Payments to acquire real estate						$ 169,000
Number of properties acquired | property						7
Medical Office | TEXAS
Real Estate [Line Items]
Payments to acquire real estate			$ 60,000	$ 34,000
Number of properties acquired | property			2	1
Life science
Real Estate [Line Items]
Number of properties acquired | property										3
Life science | Life Science JV
Real Estate [Line Items]
Investment ownership percentage	49.00%								49.00%
Life science | MASSACHUSETTS
Real Estate [Line Items]
Payments to acquire real estate	$ 45,000	$ 73,000	$ 180,000	$ 610,000				$ 320,000
Number of properties acquired | property	2		3	3

Real Estate Transactions - Deve

Real Estate Transactions - Development Activities (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Depreciation and amortization of real estate, in-place lease, and other intangibles									$ 684,286	$ 553,949	$ 435,191
Decrease to income (loss) from continuing operations	$ (28,943)	$ (61,305)	$ (168,065)	$ 120,585	$ 19,204	$ 27,762	$ (60,341)	$ (147,132)	$ (137,728)	$ (160,507)	$ (175,469)
Continuing operations basic earnings per share (in dollars per share)	$ (0.05)	$ (0.10)	$ (0.30)	$ 0.23	$ 0.04	$ 0.06	$ (0.10)	$ (0.28)	$ (0.22)	$ (0.27)	$ (0.33)
Continuing operations diluted earnings per share (in dollars per share)	$ (0.05)	$ (0.10)	$ (0.30)	$ 0.23	$ 0.04	$ 0.06	$ (0.10)	$ (0.28)	$ (0.22)	$ (0.27)	$ (0.33)
Life science
Real Estate [Line Items]
Weighted average remaining useful life									11 years	15 years
Depreciation and amortization of real estate, in-place lease, and other intangibles									$ 30,000
Decrease to income (loss) from continuing operations									$ 30,000
Continuing operations basic earnings per share (in dollars per share)									$ 0.06
Continuing operations diluted earnings per share (in dollars per share)									$ 0.06

Real Estate Transactions - Cons

Real Estate Transactions - Construction, Tenant, and Other Capital Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 759,720	$ 788,895	$ 677,274
Life Science
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	472,301	573,999	499,956
Medical Office
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	230,227	173,672	146,466
CCRC
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	57,192	41,224	0
Other
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 0	$ 0	$ 30,852

Dispositions of Real Estate a_3

Dispositions of Real Estate and Discontinued Operations - 2021 Dispositions of Real Estate (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Jan. 31, 2022USD ($)property

Sep. 30, 2021loan

Jun. 30, 2021USD ($)property

May 31, 2021USD ($)property

Apr. 30, 2021USD ($)propertypreferred_equity_investment

Mar. 31, 2021USD ($)property

Feb. 28, 2021USD ($)property

Jan. 31, 2021USD ($)property

Dec. 31, 2020USD ($)property

Mar. 31, 2021USD ($)property

Dec. 31, 2021USD ($)propertyloan

Dec. 31, 2020USD ($)propertyloan

Dec. 31, 2019USD ($)property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sales of real estate, net

$ 190,590,000

$ 90,350,000

$ (40,000)

Number of assets classified as discontinued operations | property

1

1

Repayments of secured debt

$ 6,000,000

Carrying value of mortgages assumed by buyer in real estate dispositions

$ 143,676,000

$ 0

0

Number of loans sold | loan

6

3

Mortgage Debt

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets classified as discontinued operations | property

6

2

2

2

Repayments of secured debt

$ 64,000,000

$ 39,000,000

Mezzanine

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of loans sold | loan

1

Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sales of real estate, net

30,000,000

Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sales of real estate, net

23,000,000

Sunrise Senior Housing Portfolio | Senior Housing Operating Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Capital expenditure funding, amount committed

$ 56,000,000

$ 92,000,000

Capital expenditure funding, amount funded

$ 400,000

Oakmont SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Carrying value of mortgages assumed by buyer in real estate dispositions

$ 107,000,000

Oakmont SHOP Portfolio | Mortgage Debt

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties disposed | property

4

Other Investments | Mortgage Debt

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Carrying value of mortgages assumed by buyer in real estate dispositions

36,000,000

Other Investments | Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sales of real estate, net

58,000,000

$ 283,000,000

Other Investments | Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sales of real estate, net

39,000,000

193,000,000

Senior Housing Operating Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

230,000,000

181,000,000

Payments to acquire finance receivables

150,000,000

Gain (loss) on sales of real estate, net

59,000,000

$ 16,000,000

Senior Housing Operating Portfolio | Oakmont SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

$ 564,000,000

Gain (loss) on sales of real estate, net

80,000,000

Senior Housing Operating Portfolio | Discovery SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

334,000,000

Gain (loss) on sales of real estate, net

9,000,000

Proceeds from sale of loans and preferred equity method investments

21,000,000

Senior Housing Operating Portfolio | Sonata SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

64,000,000

Gain (loss) on sales of real estate, net

$ 3,000,000

Senior Housing Operating Portfolio | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

169,000,000

$ 190,000,000

Senior Housing Triple Net

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

$ 26,000,000

Senior Housing Triple Net | Brookdale Triple Net Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

510,000,000

Gain (loss) on sales of real estate, net

$ 169,000,000

Senior Housing Triple Net | HRA Triple Net Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

$ 132,000,000

Gain (loss) on sales of real estate, net

$ 33,000,000

Senior Housing Triple Net | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

21

Proceeds from sale of buildings

24,000,000

$ 428,000,000

Senior Housing Operating Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

16

18

Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

2

32

Proceeds from sale of buildings

$ 664,000,000

Payments to acquire finance receivables

$ 410,000,000

Gain (loss) on sales of real estate, net

$ 7,000,000

Senior Housing Operating Portfolio | Oakmont SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

12

Senior Housing Operating Portfolio | Discovery SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

10

Gain (loss) on sales of real estate, net

$ 0

Number of preferred equity method investments sold | preferred_equity_investment

2

Senior Housing Operating Portfolio | Discovery SHOP Portfolio | Mezzanine

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of loans sold | property

2

Senior Housing Operating Portfolio | Sonata SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

5

Senior Housing Operating Portfolio | SLC SHOP Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

7

Repayments of secured debt

$ 70,000,000

Senior Housing Operating Portfolio | SLC SHOP Portfolio | Definitive Agreement Four

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of buildings

113,000,000

Gain (loss) on sales of real estate, net

$ 1,000,000

Senior Housing Operating Portfolio | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

15

23

Senior Housing Operating Portfolio | Other Investments | Mortgage Debt

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

1

Senior Housing Triple Net

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

2

Senior Housing Triple Net | Sunrise Senior Housing Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

2

Proceeds from sale of buildings

$ 80,000,000

Gain (loss) on sales of real estate, net

$ 22,000,000

Senior Housing Triple Net | Brookdale Triple Net Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

24

Senior Housing Triple Net | HRA Triple Net Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

8

Senior Housing Triple Net | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

7

Medical Office, Hospital

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

1

Proceeds from sale of buildings

$ 226,000,000

Gain (loss) on sales of real estate, net

$ 172,000,000

Medical Office

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

11

Medical Office | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

10

11

Proceeds from sale of buildings

$ 68,000,000

MOB Land Parcels | Other Investments

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

1

2

Life science | Other Investments | Subsequent Event

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of assets sold | property

1

Proceeds from sale of buildings

$ 14,000,000

Dispositions of Real Estate a_4

Dispositions of Real Estate and Discontinued Operations - 2020 Dispositions of Real Estate (Details) $ in Thousands	Jan. 31, 2020USD ($)property	Jan. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of secured debt			$ 6,000
Number of assets classified as discontinued operations | property			1			1
Gain (loss) on sales of real estate, net					$ 190,590	$ 90,350	$ (40)
Net cash provided by (used in) financing activities					(1,288,517)	246,450	647,271
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net							30,000
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net							23,000
Brookedale MTCA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net	$ 164,000
Number of properties disposed | property	18
Other Investments | Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					58,000	283,000
Other Investments | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					39,000	$ 193,000
Other Investments | Brookedale MTCA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property						18
Senior Housing Triple Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings							26,000
Senior Housing Triple Net | Aegis NNN Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings			$ 358,000
Gain (loss) on sales of real estate, net			$ 228,000
Senior Housing Triple Net | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property						21
Proceeds from sale of buildings					24,000	$ 428,000
Atria SHOP Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property			12
Senior Housing Operating Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings		$ 230,000					181,000
Gain (loss) on sales of real estate, net		59,000		$ 16,000
Net cash provided by (used in) financing activities		$ 150,000
Senior Housing Operating Portfolio | Atria SHOP Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property			12
Proceeds from sale of buildings			$ 312,000
Gain (loss) on sales of real estate, net			$ 39,000
Senior Housing Operating Portfolio | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					$ 169,000	190,000
Medical Office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings							$ 28,000
Medical Office | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings						136,000
MOB Land Parcels | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings						$ 3,000
Senior Housing Triple Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property							2
Senior Housing Triple Net | Aegis NNN Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property			10
Senior Housing Triple Net | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					7
Senior Housing Operating Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property		16					18
Senior Housing Operating Portfolio | Atria SHOP Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property			4
Proceeds from sale of buildings			$ 94,000
Net cash provided by (used in) financing activities			$ 61,000
Senior Housing Operating Portfolio | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					15	23
Medical Office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property							11
Medical Office | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					10	11
Proceeds from sale of buildings					$ 68,000
Medical Office | Other Investments | San Diego
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property						3
MOB Land Parcels | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					1	2
Other Non-Reporting Segment | Other Investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property						1
Proceeds from sale of buildings						$ 1,000

Dispositions of Real Estate a_5

Dispositions of Real Estate and Discontinued Operations - 2019 Dispositions of Real Estate (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2021USD ($)property	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net			$ 190,590	$ 90,350	$ (40)
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					30,000
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					23,000
Senior Housing Operating Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings	$ 230,000				181,000
Gain (loss) on sales of real estate, net	$ 59,000	$ 16,000
Senior Housing Triple Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					26,000
Medical Office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					28,000
Life Science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					7,000
Undeveloped Life Science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					$ 35,000
Senior Housing Operating Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property	16				18
Senior Housing Triple Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					2
Medical Office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					11
Life Science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					1
Undeveloped Life Science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property					1
Non-Reportable Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of buildings					$ 15,000
Number of properties disposed | property					1

Dispositions of Real Estate a_6

Dispositions of Real Estate and Discontinued Operations - Assets and Liabilities for Discontinued Operations (Details)	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real estate:
Cash and cash equivalents	$ 7,707,000	$ 53,085,000	$ 63,834,000	$ 56,811,000
Restricted cash	0	17,168,000	$ 27,040,000	$ 21,890,000
Intangible assets, net	0	25,000,000
Total assets of discontinued operations, net	37,190,000	2,626,306,000
LIABILITIES
Total liabilities of discontinued operations, net	15,056,000	415,737,000
Allowance for doubtful accounts receivable	4,138,000	5,873,000
Goodwill	18,000,000	18,000,000
Right-of-use asset, net	233,942,000	192,349,000
Deferred revenue	789,207,000	774,316,000
Held-for-sale
Real estate:
Buildings and improvements	0	2,553,254,000
Development costs and construction in progress	0	21,509,000
Land	0	355,803,000
Accumulated depreciation and amortization	0	(615,708,000)
Net real estate	0	2,314,858,000
Investments in and advances to unconsolidated joint ventures	0	5,842,000
Accounts receivable, net of allowance of $4,138 and $5,873	2,446,000	20,500,000
Cash and cash equivalents	7,707,000	53,085,000
Restricted cash	0	17,168,000
Intangible assets, net	0	24,541,000
Right-of-use asset, net	26,000	4,109,000
Other assets, net	3,237,000	103,965,000
Total assets of discontinued operations, net	13,416,000	2,544,068,000
Assets held for sale, net	23,774,000	82,238,000
Assets held for sale and discontinued operations, net	37,190,000	2,626,306,000
LIABILITIES
Mortgage debt	0	318,876,000
Lease liability	26,000	3,189,000
Accounts payable, accrued liabilities, and other liabilities	14,843,000	79,411,000
Deferred revenue	92,000	11,442,000
Total liabilities of discontinued operations, net	14,961,000	412,918,000
Liabilities related to assets held for sale, net	95,000	2,819,000
Liabilities related to assets held for sale and discontinued operations, net	15,056,000	415,737,000
Goodwill	0	29,000,000
Net real estate assets	23,000,000	73,000,000
Right-of-use asset, net	$ 1,000,000
Deferred revenue		$ 2,000,000
Held-for-sale | Senior Housing Operating Portfolio
LIABILITIES
Number of properties classified as held for sale | property	0	97
Held-for-sale | Senior Housing Triple Net
LIABILITIES
Number of properties classified as held for sale | property	0	41
Held-for-sale | Senior Housing Operating Portfolio Joint Venture
LIABILITIES
Number of properties classified as held for sale | property		1
Held-for-sale | Medical Office
LIABILITIES
Number of properties classified as held for sale | property	4	6
Held-for-sale | Life science
LIABILITIES
Number of properties classified as held for sale | property	1

Dispositions of Real Estate a_7

Dispositions of Real Estate and Discontinued Operations - Schedule of Results of Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other income (expense):
Income tax benefit (expense)	$ 1,000	$ 10,000	$ 12,000
Held-for-sale
Revenues:
Rental and related revenues	7,535	97,877	152,576
Resident fees and services	114,936	621,253	583,653
Income from direct financing leases	0	0	20,815
Total revenues	122,471	719,130	757,044
Costs and expenses:
Interest expense	3,900	10,538	8,007
Depreciation and amortization	0	143,194	224,798
Operating	122,571	550,226	474,126
Transaction costs	76	20,426	6,780
Impairments and loan loss reserves (recoveries), net	32,736	201,344	208,229
Total costs and expenses	159,283	925,728	921,940
Other income (expense):
Gain (loss) on sales of real estate, net	414,721	460,144	22,940
Other income (expense), net	4,189	5,475	17,060
Total other income (expense), net	418,910	465,619	40,000
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	382,098	259,021	(124,896)
Income tax benefit (expense)	969	9,913	11,783
Equity income (loss) from unconsolidated joint ventures	5,135	(1,188)	(2,295)
Income (loss) from discontinued operations	$ 388,202	$ 267,746	$ (115,408)

Impairments of Real Estate (Det

Impairments of Real Estate (Details)	3 Months Ended			12 Months Ended
	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Jan. 31, 2020property	Oct. 31, 2019property
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property						3
Property count | property							15
Net real estate				$ 12,667,429,000	$ 11,119,758,000
Impairments and loan loss reserves (recoveries), net				23,160,000	42,909,000	$ 17,708,000
Asset impairment charge						18,000,000
Goodwill, impairment loss				0	0	0
Goodwill				18,000,000	18,000,000
Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	$ 22,000,000	$ 7,000,000		29,000,000
Goodwill				0	29,000,000
Discontinued Operations
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net					$ 201,000,000
Asset impairment charge						$ 9,000,000
Medical Office
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				$ 22,000,000
Number of real estate properties impaired | property				3	5	3
Property count | property				4
Impairments and loan loss reserves (recoveries), net						$ 4,000,000
Number of properties intended to be demolished | property						1
Number of real estate properties impaired, candidates for potential sale | property						2
Medical Office | Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property				3
Medical Office | Held-for-use
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property				1
Senior Housing Operating Portfolio
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				$ 4,000,000
Number of real estate properties impaired | property				1	42	27
Impairments and loan loss reserves (recoveries), net			$ 10,000,000
Number of real estate properties impaired, candidates for potential sale | property						1
Life Science
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net					$ 15,000,000
Number of properties intended to be demolished | property					1
Senior Housing Triple Net, SHOP, and MOB
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net					$ 210,000,000
Senior Housing Triple Net
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property					5	8
Property count | property								43
MOB Land Parcels
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property					1
Senior Housing Triple Net, SHOP, MOB, and Other Non-Reportable
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net						$ 194,000,000
Senior Housing Triple Net, SHOP, MOB, and Other Non-Reportable | Discontinued Operations
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net						$ 189,000,000
Other Non-Reporting Segment
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property						1
Impairments 2021 | Medical Office | Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				$ 5,000,000
Net real estate				14,000,000
Impairments 2021 | Medical Office | Held-for-use
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				17,000,000
Impairments 2021 | Senior Housing Operating Portfolio
Impaired Long-Lived Assets Held and Used [Line Items]
Real estate held-for-sale				16,000,000
Aggregate carrying value before impairment				$ 20,000,000
Shop Assets, Senior Housing Triple-net Assets, MOBs, and Other Non-Reportable Asset
Impaired Long-Lived Assets Held and Used [Line Items]
Real estate held-for-sale					$ 750,000,000	$ 223,000,000
Aggregate carrying value before impairment					960,000,000	416,000,000
Minimum
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range					$ 13,000	$ 24,000
Terminal capitalization rate					5.50%
Discount rates					8.00%
Market capitalization rate						4.97%
Maximum
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range					$ 300,000	$ 125,000
Terminal capitalization rate					7.50%
Discount rates					9.50%
Market capitalization rate						8.27%
Weighted Average
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range					$ 164,000	$ 73,000
Market capitalization rate						6.22%

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Fixed income from operating leases	$ 1,087,683	$ 943,638	$ 853,545
Variable income from operating leases	290,701	238,470	215,957
Interest income from direct financing leases	$ 8,702	$ 9,720	$ 16,666

Leases - Components of Net Inve

Leases - Components of Net Investment in DFLs (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Present value of minimum lease payments receivable	$ 1,220	$ 9,804
Present value of estimated residual value	44,706	44,706
Less deferred selling profits	(1,220)	(9,804)
Net investment in direct financing leases before allowance	$ 44,706	$ 44,706

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)facility	Mar. 31, 2019USD ($)property	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Properties subject to direct financing leases (in properties) | property				1	1
Net investment in direct financing leases before allowance				$ 44,706	$ 44,706
Proceeds from sale of lease receivables	$ 82,000
Gain on sale of direct financing lease	$ 42,000
Impairments and loan loss reserves, net				23,160	42,909	$ 17,708
Direct financing lease, lease income						17,000
Proceeds from lease payment, operating activity						16,000
Conversion of DFLs to real estate				0	0	350,540
Intangible assets, net				519,760	519,917
Medical Office
Lessee, Lease, Description [Line Items]
Net investment in direct financing leases before allowance				$ 45,000	$ 45,000
Impairments and loan loss reserves, net						$ 4,000
Senior Housing Operating Portfolio
Lessee, Lease, Description [Line Items]
Proceeds from sale of lease receivables		$ 274,000
Number of leases disposed of (in facilities) | facility		13
Impairments and loan loss reserves, net		$ 10,000
DFL Portfolio | Watch list loans | Senior Housing Operating Portfolio
Lessee, Lease, Description [Line Items]
Properties subject to direct financing leases (in properties) | property			14
DFL Portfolio | Watch list loans | Senior Housing Triple Net
Lessee, Lease, Description [Line Items]
Properties with derecognized carrying value during the period (in properties) | property			14
Conversion of DFLs to real estate			$ 351,000
DFL Portfolio | Real Estate Investment | Watch list loans | Senior Housing Operating Portfolio
Lessee, Lease, Description [Line Items]
Real estate investment property, at cost			331,000
DFL Portfolio | Finite-Lived Intangible Assets | Watch list loans | Senior Housing Operating Portfolio
Lessee, Lease, Description [Line Items]
Intangible assets, net			$ 20,000

Leases - Future Minimum Rents,

Leases - Future Minimum Rents, DFLs (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 1,220
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Undiscounted minimum lease payments receivable	1,220
Less: imputed interest	0
Present value of minimum lease payments receivable	$ 1,220

Leases - Future Minimum Rents (

Leases - Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 1,057,467
2023	1,041,053
2024	979,640
2025	892,348
2026	783,781
Thereafter	3,171,115
Total	$ 7,925,404

Leases - Tenant Purchase Option

Leases - Tenant Purchase Options (Details) $ in Thousands	Dec. 31, 2021USD ($)property
Leases [Abstract]
2022 | $	$ 15,059
2023 | $	1,191
2024 | $	6,835
2025 | $	12,564
2026 | $	2,662
Thereafter | $	19,426
Total | $	$ 57,737
Number of Properties
2022 | property	8
2023 | property	1
2024 | property	3
2025 | property	16
2026 | property	2
Thereafter | property	6
Total | property	36

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Total lease expense	$ 14,442	$ 13,601	$ 11,852
Weighted average remaining lease term, operating leases	52 years	57 years
Weighted average discount rate, operating leases	4.14%	4.26%
Option to extend lease, term	68 years

Leases - Future Lease Obligatio

Leases - Future Lease Obligations (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 16,030
2023	13,438
2024	12,575
2025	11,471
2026	11,406
Thereafter	484,552
Undiscounted minimum lease payments included in the lease liability	549,472
Less: imputed interest	(344,925)
Present value of lease liability	$ 204,547

Leases - Depreciation Expense (

Leases - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
General and Administrative Expense
Lessor, Lease, Description [Line Items]
Depreciation expense related to corporate assets	$ 2	$ 2	$ 2
Other Assets
Lessor, Lease, Description [Line Items]
Accumulated depreciation related to corporate assets	$ 7	$ 6

Leases - Covid Rent Deferrals (

Leases - Covid Rent Deferrals (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessor, Lease, Description [Line Items]
Rent deferred amount	$ 0
Medical Office
Lessor, Lease, Description [Line Items]
Rent deferred amount		$ 6,000,000
Life Science
Lessor, Lease, Description [Line Items]
Rent deferred amount		$ 1,000,000

Loans Receivable - Schedule of

Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Unamortized discounts, fees, and costs	$ (4,186)	$ (222)
Reserve for loan losses	(1,813)	(10,280)	$ 0
Loans receivable, net	415,811	195,375
Remaining loans receivable commitments	58,000	11,000
Secured Mortgage Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	396,281	161,530
Mezzanine and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	$ 25,529	$ 44,347

Loans Receivable - SHOP Seller

Loans Receivable - SHOP Seller Financing (Details)	1 Months Ended			3 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)property	Jan. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)property
Loans receivable
Interest income					$ 37,773,000	$ 16,553,000	$ 9,844,000
Net cash provided by financing activities					(1,288,517,000)	246,450,000	647,271,000
Gain (loss) on sales of real estate, net					190,590,000	90,350,000	(40,000)
Loans receivable			$ 195,375,000		415,811,000	195,375,000
Senior Housing Operating Portfolio
Loans receivable
Proceeds from sale of buildings		$ 230,000,000					181,000,000
Net cash provided by financing activities		150,000,000
Gain (loss) on sales of real estate, net		59,000,000		$ 16,000,000
Loans receivable, market rate				5.25%
Non-cash interest income					13,000,000		$ 0
Noncash interest income, acceleration recognition					7,000,000
Senior Housing Operating Portfolio | Minimum
Loans receivable
Loans receivable, stated interest rate				3.50%
Interest income, amortization period (in years)				1 year
Senior Housing Operating Portfolio | Maximum
Loans receivable
Loans receivable, stated interest rate				4.50%
Interest income, amortization period (in years)				3 years
Senior Housing Operating Portfolio | Atria SHOP Portfolio
Loans receivable
Number of assets sold | property			12
Proceeds from sale of buildings			$ 312,000,000
Gain (loss) on sales of real estate, net			$ 39,000,000
Senior Housing Operating Portfolio
Loans receivable
Net cash provided by financing activities		410,000,000
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Loans receivable
Capital expenditure funding, amount committed	$ 56,000,000	$ 92,000,000
Capital expenditure funding, cost of capital, percent committed		65.00%
Capital expenditure funding, amount funded					400,000
Senior Housing Operating Portfolio
Loans receivable
Number of assets sold | property		16					18
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Loans receivable
Number of assets sold | property	2	32
Proceeds from sale of buildings		$ 664,000,000
Proceeds from the collection of loans receivable	$ 246,000,000
Gain (loss) on sales of real estate, net					7,000,000
Loans receivable					165,000,000
Senior Housing Operating Portfolio | Atria SHOP Portfolio
Loans receivable
Number of assets sold | property			4
Proceeds from sale of buildings			$ 94,000,000
Net cash provided by financing activities			$ 61,000,000
Mortgage Receivable
Loans receivable
Interest income					$ 36,000,000	$ 13,000,000	$ 6,000,000

Loans Receivable - 2021 Loans R

Loans Receivable - 2021 Loans Receivable Transactions (Details)	1 Months Ended						3 Months Ended		12 Months Ended
	Nov. 30, 2021USD ($)	Sep. 30, 2021USD ($)loan	Jul. 31, 2021USD ($)	May 31, 2021USD ($)property	Apr. 30, 2021USD ($)property	Dec. 31, 2020USD ($)property	Jun. 30, 2021USD ($)property	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loanproperty	Dec. 31, 2019USD ($)
Loans Receivable:
Loans receivable						$ 195,375,000			$ 415,811,000	$ 195,375,000
Reserve for loans receivable						10,280,000			$ 1,813,000	$ 10,280,000	$ 0
Loss on sale of financing receivable								$ (42,000,000)
Number of loans sold | loan									6	3
Mezzanine
Loans Receivable:
Reserve for loans receivable						$ 3,152,000			$ 1,804,000	$ 3,152,000	$ 0
Number of loans sold | loan		1
Proceeds from sale of receivables		$ 2,000,000
Senior Housing Operating Portfolio | Mezzanine | Discovery SHOP Portfolio
Loans Receivable:
Number of loan receivables | property					2
Loss on sale of financing receivable					$ 0
Number of loans sold | property					2
Secured Mortgage Loans
Loans Receivable:
Number of loan receivables | property						1	2			1
Financing receivable, gross						$ 115,000,000	$ 64,000,000			$ 115,000,000
Decrease in financing receivable							11,000,000
Loans receivable							53,000,000
Reserve for loans receivable							$ 8,000,000
Loss on sale of financing receivable						6,000,000			$ 3,000,000
Proceeds from sale of receivables	$ 51,000,000					$ 109,000,000
Principal repayments received		$ 15,000,000	$ 8,000,000	$ 10,000,000
Number of loans receivable | property				1

Loans Receivable - 2020 Loans R

Loans Receivable - 2020 Loans Receivable Transactions (Details) $ in Thousands	1 Months Ended			3 Months Ended	12 Months Ended
	Nov. 30, 2021USD ($)	Dec. 31, 2020USD ($)property	Nov. 30, 2020USD ($)property	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2021USD ($)property	Jan. 31, 2020USD ($)property	Oct. 31, 2019property
Financing Receivable, Allowance for Credit Loss [Line Items]
Property count | property							15
Loans receivable		$ 195,375			$ 415,811
Loss on sale of direct financing lease				$ (42,000)
Mezzanine
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loan receivables | property			1
Financing receivable, gross			$ 10,000
Proceeds from sale of receivables			8,000
Loss on sale of direct financing lease			$ 2,000
Secured Mortgage Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable						$ 53,000
Number of loan receivables | property		1				2
Financing receivable, gross		$ 115,000				$ 64,000
Proceeds from sale of receivables	$ 51,000	109,000
Loss on sale of direct financing lease		6,000			3,000
CCRC JV Investment | Other Non-Reporting Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Property count | property								15
Brookedale MTCA | Other Non-Reporting Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Property count | property							13
Brookedale MTCA | CCRC JV Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Property count | property							15
Brookedale MTCA | CCRC JV Investment | Other Non-Reporting Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Property count | property							13
Loans receivable		$ 23,000			$ 24,000		$ 30,000

Loans Receivable - Schedule o_2

Loans Receivable - Schedule of Loans Receivable by Origination Year (Details) $ in Thousands	Dec. 31, 2021USD ($)
Secured Mortgage Loans
Loans receivable
2021	$ 309,494
2020	78,606
2019	2,191
2018	0
2017	0
Prior	0
Total	390,291
Mezzanine and Other
Loans receivable
2021	23,901
2020	1,522
2019	97
2018	0
2017	0
Prior	0
Total	25,520
Performing loans | Secured Mortgage Loans
Loans receivable
2021	309,494
2020	78,606
2019	2,191
2018	0
2017	0
Prior	0
Total	390,291
Performing loans | Mezzanine and Other
Loans receivable
2021	23,901
2020	1,522
2019	97
2018	0
2017	0
Prior	0
Total	25,520
Watch list loans | Secured Mortgage Loans
Loans receivable
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Total	0
Watch list loans | Mezzanine and Other
Loans receivable
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Total	0
Workout loans | Secured Mortgage Loans
Loans receivable
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Total	0
Workout loans | Mezzanine and Other
Loans receivable
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Total	$ 0

Loans Receivable - Loan Losses

Loans Receivable - Loan Losses (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2021loan	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		$ 10,280	$ 0
Cumulative-effect of adopting ASU 2016-13 to beginning retained earnings		0	1,420
Provision for expected loan losses		1,689	17,254
Expected loan losses related to loans sold or repaid		(10,156)	(8,394)
Reserve for loan losses, end of period		$ 1,813	$ 10,280
Number of loans sold or repaid | loan		6	3
Credit loss reserve on unfunded loan commitments		$ 300	$ 1,000
Mezzanine
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		3,152	0
Cumulative-effect of adopting ASU 2016-13 to beginning retained earnings		0	513
Provision for expected loan losses		793	2,898
Expected loan losses related to loans sold or repaid		(2,141)	(259)
Reserve for loan losses, end of period		1,804	3,152
Number of loans sold or repaid | loan	1
Mezzanine and Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		7,128	0
Cumulative-effect of adopting ASU 2016-13 to beginning retained earnings		0	907
Provision for expected loan losses		896	14,356
Expected loan losses related to loans sold or repaid		(8,015)	(8,135)
Reserve for loan losses, end of period		$ 9	$ 7,128

Investments in and Advances t_3

Investments in and Advances to Unconsolidated Joint Ventures - Schedule of Equity Method Investments (Details) $ in Thousands	1 Months Ended				12 Months Ended
	Dec. 31, 2021USD ($)property	May 31, 2021USD ($)property	Apr. 30, 2021USD ($)preferred_equity_investmentproperty	Jan. 31, 2021property	Dec. 31, 2019property	Dec. 31, 2020USD ($)joint_venture	Jan. 31, 2020property
Schedule of Equity Method Investments [Line Items]
Property count							15
Investments in and advances to unconsolidated joint ventures | $	$ 403,634					$ 402,871
Number of unconsolidated joint ventures	3
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Equity method investments | $						$ 6,000
Discovery Naples JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage						41.00%
Discovery Sarasota JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage						47.00%
HCP Ventures IV, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	20.00%
H C P Ventures III, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	30.00%
Suburban Properties, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	67.00%
CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		49.00%			49.00%		49.00%
Proceeds from sale of buildings | $		$ 19,000
Otay Ranch
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments | $			$ 32,000
Otay Ranch | Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Gain on sale of unconsolidated joint venture | $			$ 5,000
Otay Ranch | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage						90.00%
Discovery Naples JV and Discovery Sarasota JV
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures | joint_venture						2
Brookedale MTCA | CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Number of assets sold		2
Proceeds from sale of buildings | $		$ 38,000
Other | SWF SH JV
Schedule of Equity Method Investments [Line Items]
Property count	19
Investment ownership percentage	54.00%
Equity method investments | $	$ 355,394					$ 357,581
Other | Other Portfolio JVs
Schedule of Equity Method Investments [Line Items]
Property count	0
Investment ownership percentage	0.00%
Equity method investments | $	$ 0					9,157
Life science | Life Science JV
Schedule of Equity Method Investments [Line Items]
Property count	1
Investment ownership percentage	49.00%
Equity method investments | $	$ 25,605					24,879
Life science | Needham Land Parcel JV
Schedule of Equity Method Investments [Line Items]
Property count	0
Investment ownership percentage	38.00%
Equity method investments | $	$ 13,566					0
Payments to acquire equity method investments | $	$ 13,000
Medical office
Schedule of Equity Method Investments [Line Items]
Property count	4
Number of assets sold					11
Medical office | Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Property count	3
Equity method investments | $	$ 9,069					9,673
Medical office | Medical Office JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	20.00%
Medical office | Medical Office JVs | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	67.00%
CCRC | CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Property count	0
Investment ownership percentage	0.00%
Equity method investments | $	$ 0					$ 1,581
Senior Housing Operating Portfolio
Schedule of Equity Method Investments [Line Items]
Number of assets sold				16	18
Senior Housing Operating Portfolio | Discovery SHOP Portfolio
Schedule of Equity Method Investments [Line Items]
Number of preferred equity method investments sold | preferred_equity_investment			2
Number of assets sold			10
Other non-reportable | Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Property count							13

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Joint Ventures - Narrative (Details) $ in Thousands, £ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	May 31, 2021	Jan. 31, 2020
Schedule of Equity Method Investments [Line Items]
Difference between carrying amount and underlying equity			$ 42,000	$ 33,000
Impairment charge					$ 6,000
Losses on sales of investment real estate			$ (190,590)	$ (90,350)	40
CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Impairment charge					$ 12,000
Investment ownership percentage	49.00%	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	£ 70
Loss on sale of properties	7,000
Losses on sales of investment real estate	$ 1,000

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangibles Lease Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangibles
Gross intangible lease assets	$ 797,675,000	$ 761,328,000
Accumulated depreciation and amortization	(277,915,000)	(241,411,000)
Intangible assets, net	$ 519,760,000	$ 519,917,000
Weighted average remaining amortization period in years	6 years	5 years
Intangible assets, net	$ 0	$ 25,000,000

Intangibles - Schedule of Int_2

Intangibles - Schedule of Intangible Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangibles [Abstract]
Gross intangible lease liabilities	$ 234,917	$ 194,565
Accumulated depreciation and amortization	(57,685)	(50,366)
Intangible liabilities, net	$ 177,232	$ 144,199
Weighted average remaining amortization period in years	8 years	8 years

Intangibles - Amortization of D

Intangibles - Amortization of Deferred Leasing Costs and Acquisition Related Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Intangibles
Depreciation and amortization expense related to amortization of lease-up intangibles	$ 106,106	$ 89,301	$ 46,828
Rental and related revenues related to amortization of net below market lease liabilities	$ 20,597	$ 11,717	$ 6,319

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period in years			6 years	5 years
Weighted average remaining amortization period in years			8 years	8 years
Goodwill			$ 18,000,000	$ 18,000,000
Goodwill, impairment loss			0	0	$ 0
Held-for-sale
Finite-Lived Intangible Assets [Line Items]
Goodwill			0	29,000,000
Goodwill, impairment loss	$ 22,000,000	$ 7,000,000	29,000,000
Brookedale MTCA
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			109,000,000	352,000,000
Intangible liabilities acquired			$ 57,000,000	$ 83,000,000
Weighted average remaining amortization period in years			9 years	7 years
Weighted average remaining amortization period in years				9 years

Intangibles - Estimated Aggrega

Intangibles - Estimated Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Estimated aggregate amortization of Intangible Assets
Intangible assets, net	$ 519,760	$ 519,917
Rental and Related Revenues
Estimated aggregate amortization of Intangible Assets
2022	24,008
2023	23,250
2024	22,407
2025	21,383
2026	18,912
Thereafter	55,032
Intangible assets, net	164,992
Depreciation and Amortization
Estimated aggregate amortization of Intangible Assets
2022	103,753
2023	98,511
2024	94,826
2025	83,308
2026	51,407
Thereafter	75,715
Intangible assets, net	$ 507,520

Debt - Bank Line of Credit and

Debt - Bank Line of Credit and Term Loans (Details)	May 23, 2019USD ($)renewal_option	Sep. 30, 2021USD ($)renewal_option	Jul. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	May 31, 2019USD ($)
Debt Instrument [Line Items]
Bank line of credit and commercial paper				$ 1,165,975,000	$ 129,590,000
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				$ 7,700,000,000
Revolving Credit Facility | Bank Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,500,000,000	$ 3,000,000,000
Number of extensions (in renewal options) | renewal_option	2	2
Length of debt instrument extension period	6 months	6 months
Bank line of credit and commercial paper				$ 0	0
Debt instrument, facility fee (as a percent)				0.15%
Line of credit facility additional aggregate amount, maximum				$ 750,000,000
Debt instrument, interest rate, reduction available for sustainability metrics				0.00025
Revolving Credit Facility | Bank Line of Credit | LIBOR
Debt Instrument [Line Items]
Loan, basis spread on variable rate				0.78%
2019 Term Loan | Bank Line of Credit
Debt Instrument [Line Items]
Face amount						$ 250,000,000
Repayments of long-term lines of credit			$ 250,000,000
Bank line of credit and commercial paper				$ 0	$ 250,000,000

Debt - Commercial Paper Program

Debt - Commercial Paper Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Term of facility	2 months	1 month
Weighted-average interest rate (as a percent)	0.32%	0.30%
Commercial Paper Program
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500,000,000	$ 1,000,000,000
Short-term debt	$ 1,170,000,000	$ 130,000,000

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Nov. 24, 2021

Jul. 12, 2021

May 19, 2021

Feb. 26, 2021

Jan. 28, 2021

Jul. 09, 2020

Jun. 24, 2020

Jun. 23, 2020

Nov. 21, 2019

Jul. 22, 2019

Jul. 08, 2019

Jul. 05, 2019

Debt Instrument [Line Items]

Long-term debt, gross

$ 6,216,234

Loss on extinguishment of debt

225,824

$ 42,912

$ 58,364

Senior Unsecured Notes 4.00%

Debt Instrument [Line Items]

Loss on extinguishment of debt

22,000

Senior Notes

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 35,000

Senior Unsecured Notes

Debt Instrument [Line Items]

Long-term debt, gross

4,700,000

Senior Unsecured Notes | Senior Unsecured Notes 2.13%

Debt Instrument [Line Items]

Face amount

$ 500,000

Interest rate (as a percent)

2.13%

Senior Unsecured Notes | Senior Unsecured Notes 1.35%

Debt Instrument [Line Items]

Face amount

$ 450,000

Interest rate (as a percent)

1.35%

Senior Unsecured Notes | Senior Unsecured Notes 2.88%

Debt Instrument [Line Items]

Face amount

$ 600,000

Interest rate (as a percent)

2.88%

Senior Unsecured Notes | Senior Unsecured Notes 3.00%

Debt Instrument [Line Items]

Face amount

$ 750,000

Interest rate (as a percent)

3.00%

Senior Unsecured Notes | Senior Unsecured Notes 3.25%

Debt Instrument [Line Items]

Face amount

$ 650,000

Interest rate (as a percent)

3.25%

Senior Unsecured Notes | Senior Unsecured Notes 3.50%

Debt Instrument [Line Items]

Face amount

$ 650,000

Interest rate (as a percent)

3.50%

Senior Unsecured Notes | Senior Unsecured Notes 3.40%

Debt Instrument [Line Items]

Face amount

$ 251,806

Interest rate (as a percent)

3.40%

Senior Unsecured Notes | Senior Unsecured Notes 4.00%

Debt Instrument [Line Items]

Face amount

$ 298,194

Interest rate (as a percent)

4.00%

Senior Unsecured Notes | Senior Unsecured Notes 4.25%

Debt Instrument [Line Items]

Face amount

$ 188,000

Interest rate (as a percent)

4.25%

Senior Unsecured Notes | Senior Unsecured Notes 4.20%

Debt Instrument [Line Items]

Face amount

$ 149,000

Interest rate (as a percent)

4.20%

Senior Unsecured Notes | Senior Unsecured Notes 3.88%

Debt Instrument [Line Items]

Face amount

$ 331,000

Interest rate (as a percent)

3.88%

Senior Unsecured Notes | Senior Unsecured Notes 4.25%

Debt Instrument [Line Items]

Face amount

$ 112,000

Interest rate (as a percent)

4.25%

Senior Unsecured Notes | Senior Unsecured Notes 4.20%

Debt Instrument [Line Items]

Face amount

$ 201,000

Interest rate (as a percent)

4.20%

Senior Unsecured Notes | Senior Unsecured Notes 3.88%

Debt Instrument [Line Items]

Face amount

$ 469,000

Interest rate (as a percent)

3.88%

Senior Unsecured Notes | Senior Unsecured Note 3.15%

Debt Instrument [Line Items]

Face amount

$ 300,000

Interest rate (as a percent)

3.15%

Loss on extinguishment of debt

18,000

Senior Unsecured Notes | Senior Unsecured Notes 4.25%

Debt Instrument [Line Items]

Face amount

$ 250,000

Interest rate (as a percent)

4.25%

Loss on extinguishment of debt

$ 26,000

Senior Unsecured Notes | Senior Unsecured Notes 4.00%

Debt Instrument [Line Items]

Face amount

$ 350,000

Interest rate (as a percent)

4.00%

Senior Unsecured Notes | Senior Unsecured Debt 2.63%

Debt Instrument [Line Items]

Face amount

$ 800,000

Interest rate (as a percent)

2.63%

Senior Unsecured Notes | Senior Unsecured Notes 4.00%

Debt Instrument [Line Items]

Face amount

$ 250,000

Interest rate (as a percent)

4.00%

4.00%

Senior Unsecured Notes | Senior Unsecured Notes 4.25%

Debt Instrument [Line Items]

Face amount

$ 250,000

Interest rate (as a percent)

4.25%

Senior Unsecured Notes | Senior Notes Due 2025

Debt Instrument [Line Items]

Loss on extinguishment of debt

61,000

Senior Unsecured Notes | Senior Notes Due 2023 and 2024

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 164,000

Debt - Mortgage Debt (Details)

Debt - Mortgage Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)facility	Dec. 31, 2020USD ($)facility	Dec. 31, 2019USD ($)	Apr. 30, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,216,234
Weighted-average interest rate (as a percent)	0.32%	0.30%
Mortgage Debt | Medical Office
Debt Instrument [Line Items]
Face amount				$ 142,000
Weighted-average interest rate (as a percent)				2.77%
Mortgage Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 350,259	$ 217,000
Number of healthcare facilities used to secure debt (in facilities) | facility	18	6
Debt instrument, collateral, healthcare facilities carrying value	$ 811,000	$ 517,000
Debt instrument, periodic payment, principal	$ 9,000	$ 5,000	$ 1,000
Weighted-average interest rate (as a percent)	3.31%

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2022	$ 5,048
2023	90,089
2024	7,024
2025	803,209
2026	2,060,498
Thereafter	3,250,366
Long-term debt, gross	6,216,234
Premiums, (discounts), and debt issuance costs, net	(46,245)
Long-term debt	$ 6,169,989
Weighted-average interest rate (as a percent)	0.32%	0.30%
Bank Line of Credit
Debt Instrument [Line Items]
2022	$ 0
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Long-term debt, gross	0
Premiums, (discounts), and debt issuance costs, net	0
Long-term debt	0
Commercial Paper
Debt Instrument [Line Items]
2022	0
2023	0
2024	0
2025	0
2026	1,165,975
Thereafter	0
Long-term debt, gross	1,165,975
Premiums, (discounts), and debt issuance costs, net	0
Long-term debt	1,165,975
Senior Unsecured Notes
Debt Instrument [Line Items]
2022	0
2023	0
2024	0
2025	800,000
2026	650,000
Thereafter	3,250,000
Long-term debt, gross	4,700,000
Premiums, (discounts), and debt issuance costs, net	(48,067)
Long-term debt	$ 4,651,933
Weighted-average interest rate (as a percent)	3.39%
Weighted-average maturity	7 years
Senior Unsecured Notes | 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
Senior Unsecured Notes | 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
Senior Unsecured Notes | 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	0.00%
Senior Unsecured Notes | 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	3.93%
Senior Unsecured Notes | 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	3.39%
Senior Unsecured Notes | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	3.24%
Senior Unsecured Notes | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	1.54%
Senior Unsecured Notes | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	6.91%
Mortgage Debt
Debt Instrument [Line Items]
2022	$ 5,048
2023	90,089
2024	7,024
2025	3,209
2026	244,523
Thereafter	366
Long-term debt, gross	350,259	$ 217,000
Premiums, (discounts), and debt issuance costs, net	1,822
Long-term debt	$ 352,081
Weighted-average interest rate (as a percent)	3.31%
Weighted-average maturity	4 years
Mortgage Debt | 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	3.80%
Mortgage Debt | 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	3.80%
Mortgage Debt | 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	3.81%
Mortgage Debt | 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	3.80%
Mortgage Debt | 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	3.11%
Mortgage Debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%
Mortgage Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	2.59%
Mortgage Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%

Commitments and Contingencies -

Commitments and Contingencies - DownREIT LLCs (Details) - property	Dec. 31, 2021	Dec. 31, 2020
Life Science JV | Massachusetts
Loss Contingencies [Line Items]
Investment ownership percentage		49.00%
Indemnification Agreement
Loss Contingencies [Line Items]
Number of properties may be contributed in the agreement	29

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Contractual Obligation (Details) $ in Thousands	Dec. 31, 2021USD ($)
Other Commitments [Line Items]
Commitments	$ 527,172
Development commitments
Other Commitments [Line Items]
Commitments	386,647
Lease and other contractual commitments
Other Commitments [Line Items]
Commitments	82,644
Construction Loan Commitments
Other Commitments [Line Items]
Commitments	$ 57,881

Commitments and Contingencies_3

Commitments and Contingencies - Credit Enhancement Guarantee (Details) $ in Millions	1 Months Ended
	Oct. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Transaction cost	$ 11

Equity and Redeemable Noncont_3

Equity and Redeemable Noncontrolling Interests - Dividends (Details) - $ / shares	Jan. 27, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 1.20	$ 1.48	$ 1.48
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.30

Equity and Redeemable Noncont_4

Equity and Redeemable Noncontrolling Interests - ATM Program (Details) - USD ($)	Apr. 30, 2021	May 31, 2021	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net						$ 1,060,000,000	$ 1,745,000	$ 1,067,071,000	$ 791,048,000
2020 ATM Program
Subsidiary or Equity Method Investee [Line Items]
Aggregate amount authorized	$ 1,250,000,000	$ 1,500,000,000
Aggregate amount remaining							$ 1,180,000,000
Maximum shares issuable under forward equity sales agreement (in shares)							9,100,000
Forward rate per share (in dollars per share)							$ 35.25
At-The-Market Program
Subsidiary or Equity Method Investee [Line Items]
Settlement alternatives, fair value (in shares)			5,500,000		16,800,000	16,800,000			5,500,000
Issuance of common stock, net					$ 528,000,000				$ 171,000,000
At-The-Market Program | Minimum
Subsidiary or Equity Method Investee [Line Items]
Option indexed to issuers equity, term							1 year
At-The-Market Program | Maximum
Subsidiary or Equity Method Investee [Line Items]
Option indexed to issuers equity, term							2 years
2020 ATM Program, Settled
Subsidiary or Equity Method Investee [Line Items]
Settlement alternatives, fair value (in shares)							0
Forward contract, outstanding (in shares)							9,100,000
2019 ATM Program
Subsidiary or Equity Method Investee [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)								2,000,000	20,300,000
Forward rate per share (in dollars per share)								$ 35.23	$ 31.44
Forward Equity Offering
Subsidiary or Equity Method Investee [Line Items]
Option indexed to issuers equity, term				1 year
Maximum shares issuable under forward equity sales agreement (in shares)				15,300,000					15,300,000
Forward rate per share (in dollars per share)				$ 28.60	$ 31.38				$ 30.91
Issuance of common stock, net			$ 422,000,000
Issuance of common stock, net (in shares)			0
Forward Equity Offering | Maximum
Subsidiary or Equity Method Investee [Line Items]
Sale of stock (in dollars per share)			$ 27.66						27.66
2019 ATM Program, Settled
Subsidiary or Equity Method Investee [Line Items]
Forward contract, outstanding (in shares)								0
ATM Direct Issuances
Subsidiary or Equity Method Investee [Line Items]
Sale of stock (in dollars per share)			$ 31.84						$ 31.84
ATM Direct Issuances | Common Stock
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net									$ 189,000,000
Issuance of common stock, net (in shares)							0	0	5,900,000

Equity and Redeemable Noncont_5

Equity and Redeemable Noncontrolling Interests - Forward Equity Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended	4 Months Ended	12 Months Ended
	Dec. 31, 2019	Nov. 30, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Issuance of common stock, net					$ 1,060,000	$ 1,745	$ 1,067,071	$ 791,048
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 dollars per share)		$ 34.46
Settlement alternatives, fair value (in shares)				15,600,000	15,600,000
Issuance of common stock, net				$ 534,000
Issuance of common stock, net (in shares)						0	0
2019 Forward Equity Offering | Maximum
Noncontrolling Interest [Line Items]
Sale of stock (in dollars per share)				$ 34.18	$ 34.18
Forward Equity Offering
Noncontrolling Interest [Line Items]
Maximum shares issuable under forward equity sales agreement (in shares)			15,300,000					15,300,000
Forward rate per share (in dollars per share)			$ 28.60	$ 31.38				$ 30.91
Issuance of common stock, net	$ 422,000
Issuance of common stock, net (in shares)	0
Option indexed to issuers equity, term			1 year
Forward Equity Offering | Maximum
Noncontrolling Interest [Line Items]
Sale of stock (in dollars per share)	$ 27.66							$ 27.66

Equity and Redeemable Noncont_6

Equity and Redeemable Noncontrolling Interests - Schedule of Other Common Stock Activities (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Dividend Reinvestment and Stock Purchase Plan (in shares)	81	181	336
Conversion of DownREIT units (in shares)	8	120	213
Exercise of stock options (in shares)	97	54	152
Vesting of restricted stock units (in shares)	924	668	468
Repurchase of common stock (in shares)	418	298	162

Equity and Redeemable Noncont_7

Equity and Redeemable Noncontrolling Interests - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Unrealized gains (losses) on derivatives, net	$ 0	$ (81)
Supplemental Executive Retirement Plan minimum liability	(3,147)	(3,604)
Total accumulated other comprehensive income (loss)	$ (3,147)	$ (3,685)

Equity and Redeemable Noncont_8

Equity and Redeemable Noncontrolling Interests - Noncontrolling Interests Narrative (Details) shares in Millions	12 Months Ended
	Dec. 31, 2021USD ($)interestentityshares	Dec. 31, 2020USD ($)
Noncontrolling Interest [Line Items]
Number of redeemable noncontrolling interest redemptions | interest	1
Payments for redeemable noncontrolling interest	$ 60,000,000
Number of redeemable noncontrolling interests, redeemable over time | interest	3
Redeemable noncontrolling interest, equity, exercisable		$ 0
Non-managing member unitholders	$ 201,056,000	199,158,000
Noncontrolling Interests
Noncontrolling Interest [Line Items]
Non-managing members DownREIT units outstanding (in shares) | shares	5
Conversion of DownREIT units (in shares) | shares	7
Number of DownREIT LLCs (in entities) | entity	7,000,000
Non-managing member unitholders	$ 201,000,000	199,000,000
DownREIT unit, fair value	$ 264,000,000	$ 221,000,000

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average incremental shares from forward equity sales agreements (in shares)	1	201	2,771
Down R E I T
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,000	7,000	7,000

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator
Income (loss) from continuing operations	$ 28,943	$ 61,305	$ 168,065	$ (120,585)	$ (19,204)	$ (27,762)	$ 60,341	$ 147,132	$ 137,728	$ 160,507	$ 175,469
Noncontrolling interests' share in continuing operations									(17,851)	(14,394)	(14,558)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.									119,877	146,113	160,911
Less: Participating securities' share in continuing operations									(3,269)	(2,416)	(1,543)
Income (loss) from continuing operations applicable to common shares									116,608	143,697	159,368
Income (loss) from discontinued operations	$ 3,633	$ 601	$ 113,960	$ 270,008	$ 169,449	$ (31,819)	$ (5,292)	$ 135,408	388,202	267,746	(115,408)
Noncontrolling interests' share in discontinued operations									(2,539)	(296)	27
Net income (loss) applicable to common shares									$ 502,271	$ 411,147	$ 43,987
Denominator
Basic weighted average shares outstanding (in shares)									538,930	530,555	486,255
Dilutive potential common shares - equity awards (in shares)									310	300	309
Dilutive potential common shares - forward equity agreements (in shares)									1	201	2,771
Diluted weighted average common shares (in shares)									539,241	531,056	489,335
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.05	$ 0.10	$ 0.30	$ (0.23)	$ (0.04)	$ (0.06)	$ 0.10	$ 0.28	$ 0.22	$ 0.27	$ 0.33
Discontinued operations (in dollars per share)	0	0	0.21	0.50	0.31	(0.06)	(0.01)	0.27	0.71	0.50	(0.24)
Net income (loss) applicable to common shares (in dollars per share)									0.93	0.77	0.09
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.05	0.10	0.30	(0.23)	(0.04)	(0.06)	0.10	0.28	0.22	0.27	0.33
Discontinued operations (in dollars per share)	$ 0	$ 0	$ 0.21	$ 0.50	$ 0.31	$ (0.06)	$ (0.01)	$ 0.26	0.71	0.50	(0.24)
Net income (loss) applicable to common shares (in dollars per share)									$ 0.93	$ 0.77	$ 0.09
Outstanding equity awards (in shares)									1,000
Forward sales agreements that have not been settled (in shares)									9,000		30,000
Forward sales agreements that have been settled (in shares)										32,000	21,000

Compensation Plans - Stock Base

Compensation Plans - Stock Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 23	$ 21	$ 18
Share-based payment arrangement, amount capitalized	3	$ 2	2
Deferred compensation cost	$ 28
Total unrecognized compensation cost, period of recognition	1 year 4 months 24 days
Executive Vice President
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)	26,000,000
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)	17,000,000

Compensation Plans - Stock Opti

Compensation Plans - Stock Options (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares exercisable (in shares)	0.4	0.5
Total share-based compensation expense recognized	$ 23,000,000	$ 21,000,000	$ 18,000,000
Common Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares outstanding (in shares)	0.4	0.5
Proceeds received from options exercised	$ 3,000,000	$ 2,000,000	5,000,000
Total share-based compensation expense recognized	$ 0	$ 0	$ 0

Compensation Plans - Restricted

Compensation Plans - Restricted Stock Awards Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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]
Total grant date fair value	$ 23	$ 24	$ 21
Total fair values (at vesting) of restricted stock and restricted stock units vested	$ 29	$ 20	$ 14
Shares withheld to offset tax withholding obligations (in shares)	418	298	162

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, 2021$ / sharesshares
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	1,683
Granted (in shares) | shares	963
Vested (in shares) | shares	(924)
Forfeited (in shares) | shares	(30)
Unvested at the end of the period (in shares) | shares	1,692
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 32.02
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	29.62
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	26.39
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	32.56
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 33.72

Segment Disclosures - Summary I

Segment Disclosures - Summary Information for the Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues	$ 483,205	$ 481,465	$ 476,238	$ 455,276	$ 431,697	$ 423,565	$ 408,559	$ 381,054	$ 1,896,184	$ 1,644,875	$ 1,240,339
Government grant income									1,412	16,198
Less: Interest income									(37,773)	(16,553)	(9,844)
Healthpeak's share of unconsolidated joint venture total revenues									83,377	112,635	238,021
Healthpeak's share of unconsolidated joint venture government grant income									1,749	1,279
Noncontrolling interests' share of consolidated joint venture total revenues									(35,655)	(34,836)	(31,830)
Operating expenses									(773,279)	(782,541)	(405,244)
Healthpeak's share of unconsolidated joint venture operating expenses									(61,515)	(87,170)	(173,576)
Noncontrolling interests' share of consolidated joint venture operating expenses									10,158	10,354	8,632
Adjustments to NOI									(54,513)	71,828	(15,169)
Adjusted NOI									1,030,145	936,069	851,329
Plus: Adjustments to NOI									54,513	(71,828)	15,169
Interest income									37,773	16,553	9,844
Interest expense									(157,980)	(218,336)	(217,612)
Depreciation and amortization									(684,286)	(553,949)	(435,191)
General and administrative									(98,303)	(93,237)	(92,966)
Transaction costs									(1,841)	(18,342)	(1,963)
Impairments and loan loss reserves, net									(23,160)	(42,909)	(17,708)
Gain (loss) on sales of real estate, net									190,590	90,350	(40)
Gain (loss) on debt extinguishments									(225,824)	(42,912)	(58,364)
Other income (expense), net									6,266	234,684	165,069
Less: Government grant income									(1,412)	(16,198)
Less: Healthpeak's share of unconsolidated joint venture NOI									(23,611)	(26,744)	(64,445)
Plus: Noncontrolling interests' share of consolidated joint venture NOI									25,497	24,482	23,198
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	25,503	58,329	166,435	(121,900)	(2,866)	13,957	78,182	128,410	128,367	217,683	176,320
Income tax benefit (expense)									3,261	9,423	5,479
Equity income (loss) from unconsolidated joint ventures									6,100	(66,599)	(6,330)
Income (loss) from continuing operations	28,943	61,305	168,065	(120,585)	(19,204)	(27,762)	60,341	147,132	137,728	160,507	175,469
Income (loss) from discontinued operations	3,633	601	113,960	270,008	169,449	(31,819)	(5,292)	135,408	388,202	267,746	(115,408)
Net income (loss)	$ 32,576	$ 61,906	$ 282,025	$ 149,423	$ 150,245	$ (59,581)	$ 55,049	$ 282,540	525,930	428,253	60,061
Tax benefit recognized in conjunction with internal restructuring activities										51,000
Deferred income tax expense (benefit)									(5,792)	(14,573)	(18,253)
Tax benefit recognized from CARES Act										3,700
TRS
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									(16,000)	71,000	(30,000)
Deferred income tax expense (benefit)									36,000	33,000
Corporate Non-segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues									0	0	0
Government grant income									0	0
Less: Interest income									0	0	0
Healthpeak's share of unconsolidated joint venture total revenues									0	0	0
Healthpeak's share of unconsolidated joint venture government grant income									0	0
Noncontrolling interests' share of consolidated joint venture total revenues									0	0	0
Operating expenses									0	0	0
Healthpeak's share of unconsolidated joint venture operating expenses									0	0	0
Noncontrolling interests' share of consolidated joint venture operating expenses									0	0	0
Adjustments to NOI									0	0	0
Adjusted NOI									0	0	0
Plus: Adjustments to NOI									0	0	0
Interest income									0	0	0
Interest expense									(147,210)	(210,475)	(216,901)
Depreciation and amortization									0	0	0
General and administrative									(98,303)	(93,237)	(92,966)
Transaction costs									0	0	(1,963)
Impairments and loan loss reserves, net									0	0	0
Gain (loss) on sales of real estate, net									0	0	0
Gain (loss) on debt extinguishments									(225,824)	(42,912)	(58,364)
Other income (expense), net									6,309	5,133	8,848
Less: Government grant income									0	0
Less: Healthpeak's share of unconsolidated joint venture NOI									0	0	0
Plus: Noncontrolling interests' share of consolidated joint venture NOI									0	0	0
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									(465,028)	(341,491)	(361,346)
Income tax benefit (expense)									3,261	9,423	5,479
Equity income (loss) from unconsolidated joint ventures									0	0	0
Income (loss) from continuing operations									(461,767)	(332,068)	(355,867)
Income (loss) from discontinued operations									388,202	267,746	(115,408)
Net income (loss)									(73,565)	(64,322)	(471,275)
Life Science | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues									715,844	569,296	440,784
Government grant income									0	0
Less: Interest income									0	0	0
Healthpeak's share of unconsolidated joint venture total revenues									5,757	448	0
Healthpeak's share of unconsolidated joint venture government grant income									0	0
Noncontrolling interests' share of consolidated joint venture total revenues									(292)	(239)	(187)
Operating expenses									(169,044)	(138,005)	(107,472)
Healthpeak's share of unconsolidated joint venture operating expenses									(1,836)	(137)	0
Noncontrolling interests' share of consolidated joint venture operating expenses									87	72	59
Adjustments to NOI									(46,589)	(20,133)	(22,103)
Adjusted NOI									503,927	411,302	311,081
Plus: Adjustments to NOI									46,589	20,133	22,103
Interest income									0	0	0
Interest expense									(232)	(234)	(277)
Depreciation and amortization									(303,196)	(217,921)	(168,339)
General and administrative									0	0	0
Transaction costs									(24)	(236)	0
Impairments and loan loss reserves, net									0	(14,671)	0
Gain (loss) on sales of real estate, net									0	0	3,651
Gain (loss) on debt extinguishments									0	0	0
Other income (expense), net									55	0	0
Less: Government grant income									0	0
Less: Healthpeak's share of unconsolidated joint venture NOI									(3,921)	(311)	0
Plus: Noncontrolling interests' share of consolidated joint venture NOI									205	167	128
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									243,403	198,229	168,347
Income tax benefit (expense)									0	0	0
Equity income (loss) from unconsolidated joint ventures									1,118	(40)	0
Income (loss) from continuing operations									244,521	198,189	168,347
Income (loss) from discontinued operations									0	0	0
Net income (loss)									244,521	198,189	168,347
Medical Office | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues									671,242	622,398	621,171
Government grant income									0	0
Less: Interest income									0	0	0
Healthpeak's share of unconsolidated joint venture total revenues									2,882	2,772	2,810
Healthpeak's share of unconsolidated joint venture government grant income									0	0
Noncontrolling interests' share of consolidated joint venture total revenues									(35,363)	(34,597)	(33,998)
Operating expenses									(223,383)	(204,008)	(201,620)
Healthpeak's share of unconsolidated joint venture operating expenses									(1,174)	(1,129)	(1,107)
Noncontrolling interests' share of consolidated joint venture operating expenses									10,071	10,282	10,109
Adjustments to NOI									(11,118)	(5,544)	(4,602)
Adjusted NOI									413,157	390,174	392,763
Plus: Adjustments to NOI									11,118	5,544	4,602
Interest income									0	0	0
Interest expense									(2,837)	(400)	(434)
Depreciation and amortization									(255,746)	(222,165)	(221,175)
General and administrative									0	0	0
Transaction costs									(323)	0	0
Impairments and loan loss reserves, net									(21,577)	(10,208)	(17,332)
Gain (loss) on sales of real estate, net									190,590	90,390	3,139
Gain (loss) on debt extinguishments									0	0	0
Other income (expense), net									(2,725)	0	0
Less: Government grant income									0	0
Less: Healthpeak's share of unconsolidated joint venture NOI									(1,708)	(1,643)	(1,703)
Plus: Noncontrolling interests' share of consolidated joint venture NOI									25,292	24,315	23,889
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									355,241	276,007	183,749
Income tax benefit (expense)									0	0	0
Equity income (loss) from unconsolidated joint ventures									794	798	858
Income (loss) from continuing operations									356,035	276,805	184,607
Income (loss) from discontinued operations									0	0	0
Net income (loss)									356,035	276,805	184,607
CCRC | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues									471,325	436,494	3,010
Government grant income									1,412	16,198
Less: Interest income									0	0	0
Healthpeak's share of unconsolidated joint venture total revenues									6,903	35,392	211,377
Healthpeak's share of unconsolidated joint venture government grant income									200	920
Noncontrolling interests' share of consolidated joint venture total revenues									0	0	0
Operating expenses									(380,865)	(440,528)	(2,215)
Healthpeak's share of unconsolidated joint venture operating expenses									(6,639)	(32,125)	(170,473)
Noncontrolling interests' share of consolidated joint venture operating expenses									0	0	0
Adjustments to NOI									3,241	97,072	16,985
Adjusted NOI									95,577	113,423	58,684
Plus: Adjustments to NOI									(3,241)	(97,072)	(16,985)
Interest income									0	0	0
Interest expense									(7,701)	(7,227)	0
Depreciation and amortization									(125,344)	(113,851)	0
General and administrative									0	0	0
Transaction costs									(1,445)	(17,994)	0
Impairments and loan loss reserves, net									0	0	0
Gain (loss) on sales of real estate, net									0	0	0
Gain (loss) on debt extinguishments									0	0	0
Other income (expense), net									2,141	187,844	(5,665)
Less: Government grant income									(1,412)	(16,198)
Less: Healthpeak's share of unconsolidated joint venture NOI									(464)	(4,187)	(40,904)
Plus: Noncontrolling interests' share of consolidated joint venture NOI									0	0	0
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									(41,889)	44,738	(4,870)
Income tax benefit (expense)									0	0	0
Equity income (loss) from unconsolidated joint ventures									1,484	(1,547)	(16,313)
Income (loss) from continuing operations									(40,405)	43,191	(21,183)
Income (loss) from discontinued operations									0	0	0
Net income (loss)									(40,405)	43,191	(21,183)
Other Non-Reporting Segment | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues									37,773	16,687	175,374
Government grant income									0	0
Less: Interest income									(37,773)	(16,553)	(9,844)
Healthpeak's share of unconsolidated joint venture total revenues									67,835	74,023	23,834
Healthpeak's share of unconsolidated joint venture government grant income									1,549	359
Noncontrolling interests' share of consolidated joint venture total revenues									0	0	2,355
Operating expenses									13	0	(93,937)
Healthpeak's share of unconsolidated joint venture operating expenses									(51,866)	(53,779)	(1,996)
Noncontrolling interests' share of consolidated joint venture operating expenses									0	0	(1,536)
Adjustments to NOI									(47)	433	(5,449)
Adjusted NOI									17,484	21,170	88,801
Plus: Adjustments to NOI									47	(433)	5,449
Interest income									37,773	16,553	9,844
Interest expense									0	0	0
Depreciation and amortization									0	(12)	(45,677)
General and administrative									0	0	0
Transaction costs									(49)	(112)	0
Impairments and loan loss reserves, net									(1,583)	(18,030)	(376)
Gain (loss) on sales of real estate, net									0	(40)	(6,830)
Gain (loss) on debt extinguishments									0	0	0
Other income (expense), net									486	41,707	161,886
Less: Government grant income									0	0
Less: Healthpeak's share of unconsolidated joint venture NOI									(17,518)	(20,603)	(21,838)
Plus: Noncontrolling interests' share of consolidated joint venture NOI									0	0	(819)
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures									36,640	40,200	190,440
Income tax benefit (expense)									0	0	0
Equity income (loss) from unconsolidated joint ventures									2,704	(65,810)	9,125
Income (loss) from continuing operations									39,344	(25,610)	199,565
Income (loss) from discontinued operations									0	0	0
Net income (loss)									$ 39,344	$ (25,610)	$ 199,565

Segment Disclosures - Revenues

Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Disclosure
Total revenues	$ 483,205	$ 481,465	$ 476,238	$ 455,276	$ 431,697	$ 423,565	$ 408,559	$ 381,054	$ 1,896,184	$ 1,644,875	$ 1,240,339
Total assets	15,257,519				15,920,089				15,257,519	15,920,089
Assets held for sale and discontinued operations, net	37,190				2,626,306				37,190	2,626,306
Operating segment
Segment Disclosure
Gross assets	16,643,879				14,583,020				16,643,879	14,583,020
Accumulated depreciation and amortization	(3,125,416)				(2,658,890)				(3,125,416)	(2,658,890)
Total assets	13,518,463				11,924,130				13,518,463	11,924,130
Operating segment | Life Science
Segment Disclosure
Total revenues									715,844	569,296	440,784
Gross assets	8,257,990				7,205,949				8,257,990	7,205,949
Operating segment | Medical Office
Segment Disclosure
Total revenues									671,242	622,398	621,171
Gross assets	6,152,512				5,197,777				6,152,512	5,197,777
Operating segment | CCRC
Segment Disclosure
Total revenues									471,325	436,494	3,010
Gross assets	2,233,377				2,179,294				2,233,377	2,179,294
Operating segment | Other Non-reportable
Segment Disclosure
Total revenues									37,773	16,687	$ 175,374
Total assets	794,172				584,432				794,172	584,432
Other non-segment
Segment Disclosure
Total assets	$ 907,694				$ 785,221				$ 907,694	$ 785,221

Segment Disclosures - Narrative

Segment Disclosures - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Goodwill	$ 18	$ 18
Medical Office | Operating segment
Segment Reporting Information [Line Items]
Goodwill	14	14
CCRC | Operating segment
Segment Reporting Information [Line Items]
Goodwill	2	2
Other Non-Reporting Segment | Operating segment
Segment Reporting Information [Line Items]
Goodwill	$ 2	$ 2

Income Taxes - Schedule of Comm

Income Taxes - Schedule of Common Stock Distribution (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 1.2000	$ 1.4800	$ 1.4800
Qualified business income for purpose of Code Section 199A (in dollars per share)	0.1370	0.7139	0.7633
Qualified dividend income for purposes of Code Section 1(h)(11) (in dollars per share)	$ 0.0153
Section 1231 gain (loss)	$ 0
Ordinary dividends
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.1523	0.7139	0.7633
Capital Gain Dividends
Dividends Payable [Line Items]
Dividends (in dollars per share)	0.3800	0.5298	0.2714
Nondividend distributions
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.6677	$ 0.2363	$ 0.4453

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes									$ 134,000	$ 151,000	$ 170,000
Income (loss) before income taxes	$ 25,503	$ 58,329	$ 166,435	$ (121,900)	$ (2,866)	$ 13,957	$ 78,182	$ 128,410	128,367	217,683	176,320
Income tax benefit (expense)									1,000	10,000	12,000
Deferred income tax expense (benefit)									(5,792)	(14,573)	(18,253)
Net operating loss carryforward	71,744				68,444				71,744	68,444	33,771
Unrecognized tax benefits	469				$ 469				469	469	469	$ 0
Accrued interest	102								102
Down R E I T
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes									150,000	80,000	200,000
TRS
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes									(16,000)	71,000	$ (30,000)
Deferred income tax expense (benefit)									36,000	$ 33,000
Net operating loss carryforward	288,000								288,000
Net operating loss carryforwards subject to expiration	22,000								22,000
Net operating loss carryforwards not subject to expiration	$ 266,000								$ 266,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
Federal	$ 126	$ (9,164)	$ 104
State	1,003	1,431	445
Total current	1,129	(7,733)	549
Deferred
Federal	(3,469)	(2,849)	(5,920)
State	(921)	1,159	(108)
Total deferred	(4,390)	(1,690)	(6,028)
Total income tax expense (benefit) from continuing operations	$ (3,261)	$ (9,423)	$ (5,479)

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax expense (benefit) at U.S. federal statutory income tax rate on income or loss subject to tax	$ (3,345)	$ 15,016	$ (6,169)
State income tax expense (benefit), net of federal tax	(706)	4,211	(1,830)
Gross receipts and margin taxes	989	980	1,108
Effect of permanent differences	0	0	20
Return to provision adjustments	4	707	54
Valuation allowance for deferred tax assets	(203)	24,051	22
Tax rate differential ─ NOL carryback under the CARES Act	0	(3,732)	0
Change in tax status of TRS	0	(50,656)	1,316
Total income tax expense (benefit) from continuing operations	$ (3,261)	$ (9,423)	$ (5,479)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Investment in unconsolidated joint ventures	$ 0	$ 2,333	$ 40,466
Real estate	129	3,895	0
Net operating loss carryforward	71,744	68,444	33,771
Expense accruals	14,229	15,478	3,258
Deferred revenue	104,397	103,713	0
Total deferred tax assets	190,499	193,863	77,495
Valuation allowance	(35,772)	(33,519)	(4,878)
Deferred tax assets, net of valuation allowance	154,727	160,344	72,617
Deferred tax liabilities:
Real estate	61,097	72,059	0
Other	648	1,094	0
Deferred tax liabilities	61,745	73,153	0
Net deferred tax assets	$ 92,982	$ 87,191	$ 72,617

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total unrecognized tax benefits at January 1	$ 469	$ 469	$ 0
Gross amount of increases for prior years' tax positions	0	0	469
Total unrecognized tax benefits at December 31	$ 469	$ 469	$ 469

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental cash flow information:
Interest paid, net of capitalized interest	$ 173,044	$ 209,843	$ 201,784
Income taxes paid (refunded)	4,521	(786)	1,426
Capitalized interest	24,084	27,041	30,459
Cash paid for amounts included in the measurement of lease liability for operating leases	10,620	9,940	8,158
Supplemental schedule of non-cash investing and financing activities:
Increase in ROU asset in exchange for new lease liability related to operating leases	28,866	32,208	5,733
Decrease in ROU asset with corresponding change in lease liability related to operating leases	8,410	0	0
Seller financing provided on disposition of real estate asset	559,745	73,498	44,812
Accrued construction costs	179,995	95,293	126,006
Net noncash impact from the consolidation of previously unconsolidated joint ventures	0	369,223	17,850
Refundable entrance fees assumed with real estate acquisitions	0	307,954	0
Retained investment in connection with SWF SH JV	0	0	427,328
Conversion of DFLs to real estate	0	0	350,540
Carrying value of mortgages assumed by buyer in real estate dispositions	143,676	0	0
Mortgages assumed with real estate acquisitions	0	251,280	172,565
Vesting of restricted stock units and conversion of non-managing member units into common stock	$ 1,125	$ 4,746	$ 5,614

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Summary of cash flow information discontinued operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Depreciation and amortization of real estate, in-place lease, and other intangibles	$ 684,286	$ 553,949	$ 435,191
Development, redevelopment, and other major improvements of real estate	610,555	791,566	626,904
Leasing costs, tenant improvements, and recurring capital expenditures	111,480	94,121	108,844
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Depreciation and amortization of real estate, in-place lease, and other intangibles	0	143,194	224,798
Development, redevelopment, and other major improvements of real estate	5,780	30,769	74,919
Leasing costs, tenant improvements, and recurring capital expenditures	$ 2,636	$ 12,695	$ 22,617

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information - Summary of cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Continuing operations
Cash and cash equivalents	$ 158,287	$ 44,226	$ 80,398	$ 53,979
Restricted cash	53,454	67,206	13,385	7,166
Cash, cash equivalents and restricted cash	211,741	111,432	93,783	61,145
Discontinued operations
Cash and cash equivalents	7,707	53,085	63,834	56,811
Restricted cash	0	17,168	27,040	21,890
Cash, cash equivalents and restricted cash	7,707	70,253	90,874	78,701
Cash and cash equivalents	165,994	97,311	144,232	110,790
Restricted cash	53,454	84,374	40,425	29,056
Cash, cash equivalents and restricted cash	$ 219,448	$ 181,685	$ 184,657	$ 139,846

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Millions	1 Months Ended						12 Months Ended
	Dec. 31, 2021USD ($)propertytenantjoint_venture	Sep. 30, 2021loan	Jun. 30, 2021property	May 31, 2021property	Apr. 30, 2021preferred_equity_investmentproperty	Jan. 31, 2021property	Dec. 31, 2021USD ($)entitypropertytenantjoint_ventureloan	Dec. 31, 2020USD ($)propertyloantenantjoint_venture	Dec. 31, 2019property	Jan. 31, 2020property	Oct. 31, 2019property
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures	3						3
Term of facility							2 months	1 month
Property count										15
Number of loans sold | loan							6	3
Carrying value of exchange accommodation titleholder, carrying value | $	$ 77						$ 77	$ 813
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Number of properties leased								2
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures | joint_venture								4
Number of VIE borrowers with marketable debt securities | joint_venture								1
Number of VIE borrowers with debt securities and loan | loan								1
Mezzanine
Variable Interest Entity [Line Items]
Number of loans sold | loan		1
VIE tenants-operating leases
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures | joint_venture	2						2
Number of properties leased								2
Number of VIE borrowers with marketable debt securities | joint_venture	1						1
Number of VIE tenants | tenant								1
CCRC JV Investment
Variable Interest Entity [Line Items]
Investment ownership percentage				49.00%					49.00%	49.00%
Ownership percentage								49.00%
CCRC JV Investment | Brookedale MTCA
Variable Interest Entity [Line Items]
Number of assets sold				2
Ventures V, LLC
Variable Interest Entity [Line Items]
Ownership percentage							51.00%
Life Science JV
Variable Interest Entity [Line Items]
Ownership percentage							99.00%
MSREI MOB JV
Variable Interest Entity [Line Items]
Ownership percentage							51.00%
DownREIT Partnerships
Variable Interest Entity [Line Items]
Controlling interest entity controlling ownership interest | entity							7
Life science
Variable Interest Entity [Line Items]
Number of properties acquired								3
Life science | Needham Land Parcel JV
Variable Interest Entity [Line Items]
Investment ownership percentage	38.00%						38.00%
Payments to acquire equity method investments | $	$ 13
Property count	0						0
Life science | Life Science JV
Variable Interest Entity [Line Items]
Investment ownership percentage	49.00%						49.00%
Property count	1						1
Senior Housing Triple Net
Variable Interest Entity [Line Items]
Number of assets sold									2
Property count											43
Senior Housing Triple Net | Loan-seller Financing
Variable Interest Entity [Line Items]
Term of facility							5 years
Senior Housing Triple Net | Sunrise Senior Housing Portfolio
Variable Interest Entity [Line Items]
Number of assets sold			2
Senior Housing Triple Net | Loan-seller Financing
Variable Interest Entity [Line Items]
Number of VIE tenants | tenant	7						7
Senior Housing Operating Portfolio
Variable Interest Entity [Line Items]
Number of assets sold						16			18
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Variable Interest Entity [Line Items]
Number of assets sold			2			32
Senior Housing Operating Portfolio | Discovery SHOP Portfolio
Variable Interest Entity [Line Items]
Number of assets sold					10
Number of preferred equity method investments sold | preferred_equity_investment					2
Senior Housing Operating Portfolio | Mezzanine | Discovery SHOP Portfolio
Variable Interest Entity [Line Items]
Number of loans sold					2
Other Non-Reporting Segment | Brookedale MTCA
Variable Interest Entity [Line Items]
Property count										13
Other Non-Reporting Segment | Development Investment
Variable Interest Entity [Line Items]
Property count								2
Medical Office
Variable Interest Entity [Line Items]
Number of assets sold									11
Property count	4						4
Number of properties acquired							2	7
Hospital
Variable Interest Entity [Line Items]
Number of properties acquired								1

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2021USD ($)
CMBS and LLC investment
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 36,101
Needham Land Parcel JV
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 13,566

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Buildings and improvements	$ 12,025,271	$ 11,048,433
Development costs and construction in progress	877,423	613,182
Land	2,603,964	1,867,278
Accumulated depreciation and amortization	(2,839,229)	(2,409,135)
Net real estate	12,667,429	11,119,758
Accounts receivable, net	48,691	42,269
Cash and cash equivalents	158,287	44,226	$ 80,398	$ 53,979
Intangible assets, net	519,760	519,917
Assets held for sale and discontinued operations, net	37,190	2,626,306
Right-of-use asset, net	233,942	192,349
Other assets, net	674,615	665,106
Total assets	15,257,519	15,920,089
Mortgage debt	352,081	221,621
Intangible liabilities, net	177,232	144,199
Liabilities related to assets held for sale and discontinued operations, net	15,056	415,737
Lease liability	204,547	179,895
Accounts payable, accrued liabilities, and other liabilities	755,384	760,617
Deferred revenue	789,207	774,316
Total liabilities	8,111,415	8,572,743
Variable Interest Entity
Variable Interest Entity [Line Items]
Buildings and improvements	2,303,920	2,988,599
Development costs and construction in progress	82,303	85,595
Land	548,168	433,574
Accumulated depreciation and amortization	(551,097)	(602,491)
Net real estate	2,383,294	2,905,277
Accounts receivable, net	5,455	12,009
Cash and cash equivalents	22,295	16,550
Restricted cash	114	7,977
Intangible assets, net	117,180	179,027
Assets held for sale and discontinued operations, net	754	704,966
Right-of-use asset, net	107,993	95,407
Other assets, net	62,886	59,063
Total assets	2,699,971	3,980,276
Mortgage debt	144,350	39,085
Intangible liabilities, net	23,909	56,467
Liabilities related to assets held for sale and discontinued operations, net	1,677	190,919
Lease liability	99,213	97,605
Accounts payable, accrued liabilities, and other liabilities	58,440	102,391
Deferred revenue	21,546	90,183
Total liabilities	349,135	576,650
Discontinued Operations | Variable Interest Entity
Variable Interest Entity [Line Items]
Buildings and improvements	0	639,759
Development costs and construction in progress	0	68
Land	0	106,209
Accumulated depreciation and amortization	0	(57,235)
Net real estate	0	688,801
Accounts receivable, net	62	1,700
Cash and cash equivalents	59	6,306
Restricted cash	0	3,124
Right-of-use asset, net	0	1,391
Other assets, net	633	3,644
Total assets	754	704,966
Mortgage debt	0	176,702
Liabilities related to assets held for sale and discontinued operations, net	1,677	11,003
Lease liability	0	1,392
Deferred revenue	0	1,822
Total liabilities	$ 1,677	$ 190,919

Concentration of Credit Risk -

Concentration of Credit Risk - Schedule of Geographical Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Percentage of Total Company Revenues | Customer Concentration Risk | Life science | Largest Tenant
Concentration Risk [Line Items]
Concentration risk (as a percent)	3.00%
Percentage of Total Company Revenues | Customer Concentration Risk | Medical Office | Largest Tenant
Concentration Risk [Line Items]
Concentration risk (as a percent)	8.00%
California | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	34.00%	30.00%
California | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	28.00%	21.00%	22.00%
Florida | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	11.00%	10.00%
Florida | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	17.00%	14.00%	2.00%
Texas | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	10.00%	9.00%
Texas | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	11.00%	9.00%	11.00%
Massachusetts | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	16.00%	11.00%
Massachusetts | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	9.00%	4.00%	2.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Summary of financial instruments
Bank line of credit and commercial paper	$ 1,165,975	$ 129,590
Senior unsecured notes	4,651,933	5,697,586
Mortgage debt	352,081	221,621
Carrying Value
Summary of financial instruments
Loans receivable, net	415,811	195,375
Marketable debt securities	21,003	20,355
Interest rate cap assets	397	0
Bank line of credit and commercial paper	1,165,975	129,590
Term loan	0	249,182
Senior unsecured notes	4,651,933	5,697,586
Mortgage debt	352,081	221,621
Interest-rate swap liabilities	0	81
Carrying Value | Discontinued Operations
Summary of financial instruments
Mortgage debt		319,000
Fair Value | Level 1
Summary of financial instruments
Senior unsecured notes	5,054,747	6,517,650
Fair Value | Level 2
Summary of financial instruments
Loans receivable, net	437,607	201,228
Marketable debt securities	21,003	20,355
Interest rate cap assets	397	0
Bank line of credit and commercial paper	1,165,975	129,590
Term loan	0	249,182
Mortgage debt	352,800	221,181
Interest-rate swap liabilities	$ 0	$ 81

Derivative Financial Instrume_3

Derivative Financial Instruments - Financial Instruments (Details)	Dec. 31, 2021USD ($)derivativeHeld	Apr. 30, 2021derivativeHeld
Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate swap contracts (in derivatives) | derivativeHeld	2
Interest-rate Swap Contracts | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional | $	$ 142,100,000
Strike Rate	2.00%
Fair Value | $	$ 397,000
Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate swap contracts (in derivatives) | derivativeHeld		2

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) $ in Millions	1 Months Ended
	Apr. 30, 2021USD ($)property	Mar. 31, 2021USD ($)derivativeHeldproperty	Dec. 31, 2020USD ($)property	Dec. 31, 2021derivativeHeld	May 31, 2021property
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Repayments of secured debt | $			$ 6
Number of assets classified as discontinued operations | property			1
Number of interest rate derivatives | derivativeHeld				0
Mortgage Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Repayments of secured debt | $	$ 64	$ 39
Number of assets classified as discontinued operations | property	2	2			6
Number of interest rate derivatives terminated | derivativeHeld		2

Accounts Payable, Accrued Lia_3

Accounts Payable, Accrued Liabilities, and Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Refundable entrance fees	$ 288,409	$ 317,444
Accrued construction costs	179,995	95,293
Accrued interest	59,342	78,735
Other accounts payable, and accrued liabilities	227,638	269,145
Accounts payable, accrued liabilities, and other liabilities	755,384	760,617
Unamortized nonrefundable entrance fee	496,000	$ 484,000
Proceeds from nonrefundable entrance fee	89,000
Amortization of nonrefundable entrance fee	$ 76,000

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 483,205	$ 481,465	$ 476,238	$ 455,276	$ 431,697	$ 423,565	$ 408,559	$ 381,054	$ 1,896,184	$ 1,644,875	$ 1,240,339
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	25,503	58,329	166,435	(121,900)	(2,866)	13,957	78,182	128,410	128,367	217,683	176,320
Income (loss) from continuing operations	28,943	61,305	168,065	(120,585)	(19,204)	(27,762)	60,341	147,132	137,728	160,507	175,469
Income (loss) from discontinued operations	3,633	601	113,960	270,008	169,449	(31,819)	(5,292)	135,408	388,202	267,746	(115,408)
Net income (loss)	32,576	61,906	282,025	149,423	150,245	(59,581)	55,049	282,540	525,930	428,253	60,061
Net income (loss) applicable to Healthpeak Properties, Inc.	$ 28,761	$ 54,711	$ 276,280	$ 145,788	$ 146,394	$ (63,417)	$ 51,506	$ 279,080	$ 505,540	$ 413,563	$ 45,530
Dividends paid per common share (in dollars per share)	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.37	$ 0.37	$ 0.37	$ 0.37
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	0.05	0.10	0.30	(0.23)	(0.04)	(0.06)	0.10	0.28	$ 0.22	$ 0.27	$ 0.33
Discontinued operations (in dollars per share)	0	0	0.21	0.50	0.31	(0.06)	(0.01)	0.27	0.71	0.50	(0.24)
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.05	0.10	0.30	(0.23)	(0.04)	(0.06)	0.10	0.28	0.22	0.27	0.33
Discontinued operations (in dollars per share)	$ 0	$ 0	$ 0.21	$ 0.50	$ 0.31	$ (0.06)	$ (0.01)	$ 0.26	$ 0.71	$ 0.50	$ (0.24)

Schedule II_ Valuation and Qu_2

Schedule II: Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 3,994	$ 387
Additions
Amounts Charged Against Operations, net	0	76	$ (146)
Acquired Properties	0	3,531	387
Deductions	(2,124)	0	0
Balance at End of Year	1,870	3,994	387
Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	5,873	4,178
Additions
Amounts Charged Against Operations, net	46	1,026	1,695
Acquired Properties	0	175	928
Deductions	(1,781)	494	(700)
Balance at End of Year	$ 4,138	$ 5,873	4,178
ASU 2016-02 | Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			146
ASU 2016-02 | Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			$ 2,255

Schedule III_ Real Estate and_2

Schedule III: Real Estate and Accumulated Depreciation - Details of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Held-for-sale
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 0
Initial Cost to Company
Land(1)	2,527
Building and Improvements	36,502
Costs Capitalized Subsequent to Acquisition	4,584
Gross Amount at Which Carried As of Year End
Land	2,710
Buildings and Improvements	34,837
Total	37,547
Accumulated Depreciation	(14,527)
Discontinued Operations
Gross Amount at Which Carried As of Year End
Total	0	$ 2,930,566	$ 4,133,349	$ 3,440,706
Accumulated Depreciation	0	$ (615,708)	$ (861,557)	$ (817,931)
Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	352,083
Initial Cost to Company
Land(1)	2,566,975
Building and Improvements	8,858,070
Costs Capitalized Subsequent to Acquisition	4,608,509
Gross Amount at Which Carried As of Year End
Land	2,603,964
Buildings and Improvements	12,902,694
Total	15,506,658
Accumulated Depreciation	(2,839,229)
Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,876,425
Building and Improvements	3,412,856
Costs Capitalized Subsequent to Acquisition	2,958,828
Gross Amount at Which Carried As of Year End
Land	1,878,851
Buildings and Improvements	6,172,710
Total	8,051,561
Accumulated Depreciation	(1,143,340)
Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	146,584
Initial Cost to Company
Land(1)	531,118
Building and Improvements	3,875,267
Costs Capitalized Subsequent to Acquisition	1,512,205
Gross Amount at Which Carried As of Year End
Land	560,962
Buildings and Improvements	5,038,600
Total	5,599,562
Accumulated Depreciation	(1,501,828)
Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	205,499
Initial Cost to Company
Land(1)	161,959
Building and Improvements	1,606,449
Costs Capitalized Subsequent to Acquisition	142,060
Gross Amount at Which Carried As of Year End
Land	166,861
Buildings and Improvements	1,726,221
Total	1,893,082
Accumulated Depreciation	(208,588)
1483 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,498
Building and Improvements	500
Costs Capitalized Subsequent to Acquisition	77,109
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	77,609
Total	86,107
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(1)	11,331
Building and Improvements	689
Costs Capitalized Subsequent to Acquisition	153,367
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	154,056
Total	165,387
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(1)	11,331
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	136,814
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	137,414
Total	148,745
Accumulated Depreciation	(392)
1486 Brisbane, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	11,331
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	135,352
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	135,352
Total	146,683
Accumulated Depreciation	(11,031)
1487 Brisbane, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,498
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	76,328
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	76,328
Total	84,826
Accumulated Depreciation	(2,028)
2874 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	64,186
Building and Improvements	62,318
Costs Capitalized Subsequent to Acquisition	17,425
Gross Amount at Which Carried As of Year End
Land	64,186
Buildings and Improvements	79,119
Total	143,305
Accumulated Depreciation	(6,558)
2875 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	58,410
Building and Improvements	56,623
Costs Capitalized Subsequent to Acquisition	8,527
Gross Amount at Which Carried As of Year End
Land	58,410
Buildings and Improvements	64,701
Total	123,111
Accumulated Depreciation	(6,575)
1401 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	900
Building and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	7,554
Gross Amount at Which Carried As of Year End
Land	1,244
Buildings and Improvements	13,457
Total	14,701
Accumulated Depreciation	(2,959)
1402 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,500
Building and Improvements	6,400
Costs Capitalized Subsequent to Acquisition	4,332
Gross Amount at Which Carried As of Year End
Land	1,719
Buildings and Improvements	6,838
Total	8,557
Accumulated Depreciation	(2,326)
1403 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,900
Building and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	11,768
Gross Amount at Which Carried As of Year End
Land	1,900
Buildings and Improvements	17,164
Total	19,064
Accumulated Depreciation	(5,572)
1404 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,200
Building and Improvements	17,200
Costs Capitalized Subsequent to Acquisition	7,622
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	24,822
Total	27,022
Accumulated Depreciation	(7,250)
1405 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,000
Building and Improvements	3,200
Costs Capitalized Subsequent to Acquisition	8,110
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	3,837
Total	4,837
Accumulated Depreciation	(1,270)
1549 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,006
Building and Improvements	4,259
Costs Capitalized Subsequent to Acquisition	6,730
Gross Amount at Which Carried As of Year End
Land	1,055
Buildings and Improvements	8,510
Total	9,565
Accumulated Depreciation	(3,242)
1550 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	677
Building 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	(1,915)
1551 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	661
Building and Improvements	1,995
Costs Capitalized Subsequent to Acquisition	4,789
Gross Amount at Which Carried As of Year End
Land	693
Buildings and Improvements	2,565
Total	3,258
Accumulated Depreciation	(1,428)
1552 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,187
Building and Improvements	7,139
Costs Capitalized Subsequent to Acquisition	2,543
Gross Amount at Which Carried As of Year End
Land	1,222
Buildings and Improvements	8,539
Total	9,761
Accumulated Depreciation	(4,519)
1553 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,189
Building 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	16,230
Total	17,455
Accumulated Depreciation	(9,976)
1554 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,246
Building and Improvements	5,179
Costs Capitalized Subsequent to Acquisition	10,542
Gross Amount at Which Carried As of Year End
Land	1,283
Buildings and Improvements	13,923
Total	15,206
Accumulated Depreciation	(3,628)
1555 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,521
Building and Improvements	13,546
Costs Capitalized Subsequent to Acquisition	7,541
Gross Amount at Which Carried As of Year End
Land	1,566
Buildings and Improvements	20,982
Total	22,548
Accumulated Depreciation	(11,751)
1556 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,212
Building and Improvements	5,120
Costs Capitalized Subsequent to Acquisition	4,726
Gross Amount at Which Carried As of Year End
Land	1,249
Buildings and Improvements	6,856
Total	8,105
Accumulated Depreciation	(3,730)
1424 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	9,600
Building and Improvements	25,283
Costs Capitalized Subsequent to Acquisition	33,183
Gross Amount at Which Carried As of Year End
Land	9,719
Buildings and Improvements	52,874
Total	62,593
Accumulated Depreciation	(10,149)
1425 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,200
Building 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	21,369
Total	27,645
Accumulated Depreciation	(8,215)
1426 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,200
Building and Improvements	12,412
Costs Capitalized Subsequent to Acquisition	14,394
Gross Amount at Which Carried As of Year End
Land	7,286
Buildings and Improvements	23,357
Total	30,643
Accumulated Depreciation	(11,497)
1427 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,700
Building and Improvements	16,983
Costs Capitalized Subsequent to Acquisition	8,794
Gross Amount at Which Carried As of Year End
Land	8,767
Buildings and Improvements	22,804
Total	31,571
Accumulated Depreciation	(10,536)
1949 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,686
Building and Improvements	11,045
Costs Capitalized Subsequent to Acquisition	18,054
Gross Amount at Which Carried As of Year End
Land	2,686
Buildings and Improvements	28,565
Total	31,251
Accumulated Depreciation	(5,028)
2229 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,753
Building and Improvements	32,528
Costs Capitalized Subsequent to Acquisition	10,755
Gross Amount at Which Carried As of Year End
Land	8,777
Buildings and Improvements	42,811
Total	51,588
Accumulated Depreciation	(11,027)
1470 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,826
Building 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	12,541
Total	18,367
Accumulated Depreciation	(4,462)
1471 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,978
Building 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	(5,118)
1472 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,654
Building 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	(2,911)
1473 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	11,024
Building 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	(7,448)
1474 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,051
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,939
Gross Amount at Which Carried As of Year End
Land	5,051
Buildings and Improvements	19,939
Total	24,990
Accumulated Depreciation	(2,974)
1475 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,655
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	10,302
Gross Amount at Which Carried As of Year End
Land	5,655
Buildings and Improvements	10,302
Total	15,957
Accumulated Depreciation	(322)
1478 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,700
Building 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	(5,190)
1499 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,400
Building and Improvements	5,500
Costs Capitalized Subsequent to Acquisition	3,378
Gross Amount at Which Carried As of Year End
Land	3,407
Buildings and Improvements	7,252
Total	10,659
Accumulated Depreciation	(3,015)
1500 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,500
Building and Improvements	4,100
Costs Capitalized Subsequent to Acquisition	1,695
Gross Amount at Which Carried As of Year End
Land	2,506
Buildings and Improvements	5,033
Total	7,539
Accumulated Depreciation	(2,098)
1501 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,600
Building and Improvements	4,600
Costs Capitalized Subsequent to Acquisition	2,331
Gross Amount at Which Carried As of Year End
Land	3,607
Buildings and Improvements	6,487
Total	10,094
Accumulated Depreciation	(2,496)
1502 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,100
Building and Improvements	5,100
Costs Capitalized Subsequent to Acquisition	1,618
Gross Amount at Which Carried As of Year End
Land	3,107
Buildings and Improvements	6,347
Total	9,454
Accumulated Depreciation	(2,696)
1503 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,800
Building and Improvements	17,300
Costs Capitalized Subsequent to Acquisition	10,013
Gross Amount at Which Carried As of Year End
Land	4,818
Buildings and Improvements	25,528
Total	30,346
Accumulated Depreciation	(6,998)
1504 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,400
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	11,976
Gross Amount at Which Carried As of Year End
Land	5,418
Buildings and Improvements	27,441
Total	32,859
Accumulated Depreciation	(9,043)
1505 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,000
Building and Improvements	3,500
Costs Capitalized Subsequent to Acquisition	4,250
Gross Amount at Which Carried As of Year End
Land	3,006
Buildings and Improvements	7,275
Total	10,281
Accumulated Depreciation	(2,207)
1506 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,000
Building 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	28,323
Total	34,341
Accumulated Depreciation	(12,058)
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)	1,900
Building and Improvements	12,800
Costs Capitalized Subsequent to Acquisition	17,220
Gross Amount at Which Carried As of Year End
Land	1,912
Buildings and Improvements	25,715
Total	27,627
Accumulated Depreciation	(8,456)
1508 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,700
Building and Improvements	11,300
Costs Capitalized Subsequent to Acquisition	22,736
Gross Amount at Which Carried As of Year End
Land	2,712
Buildings and Improvements	28,461
Total	31,173
Accumulated Depreciation	(6,318)
1509 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,700
Building 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	16,114
Total	18,826
Accumulated Depreciation	(7,618)
1510 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,200
Building and Improvements	12,000
Costs Capitalized Subsequent to Acquisition	10,584
Gross Amount at Which Carried As of Year End
Land	2,212
Buildings and Improvements	18,386
Total	20,598
Accumulated Depreciation	(6,171)
1511 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,600
Building and Improvements	9,300
Costs Capitalized Subsequent to Acquisition	21,480
Gross Amount at Which Carried As of Year End
Land	2,612
Buildings and Improvements	30,157
Total	32,769
Accumulated Depreciation	(6,711)
1512 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,300
Building and Improvements	18,000
Costs Capitalized Subsequent to Acquisition	13,420
Gross Amount at Which Carried As of Year End
Land	3,300
Buildings and Improvements	31,392
Total	34,692
Accumulated Depreciation	(14,828)
1513 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,300
Building and Improvements	17,900
Costs Capitalized Subsequent to Acquisition	15,835
Gross Amount at Which Carried As of Year End
Land	3,326
Buildings and Improvements	29,842
Total	33,168
Accumulated Depreciation	(13,568)
678 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,603
Building and Improvements	11,051
Costs Capitalized Subsequent to Acquisition	3,341
Gross Amount at Which Carried As of Year End
Land	2,603
Buildings and Improvements	14,392
Total	16,995
Accumulated Depreciation	(6,112)
679 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,269
Building and Improvements	23,566
Costs Capitalized Subsequent to Acquisition	32,229
Gross Amount at Which Carried As of Year End
Land	5,669
Buildings and Improvements	52,094
Total	57,763
Accumulated Depreciation	(18,818)
837 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,630
Building and Improvements	2,028
Costs Capitalized Subsequent to Acquisition	9,147
Gross Amount at Which Carried As of Year End
Land	4,630
Buildings and Improvements	5,240
Total	9,870
Accumulated Depreciation	(2,019)
838 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,040
Building and Improvements	903
Costs Capitalized Subsequent to Acquisition	5,268
Gross Amount at Which Carried As of Year End
Land	2,040
Buildings and Improvements	4,217
Total	6,257
Accumulated Depreciation	(1,095)
839 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,940
Building and Improvements	3,184
Costs Capitalized Subsequent to Acquisition	7,320
Gross Amount at Which Carried As of Year End
Land	4,046
Buildings and Improvements	5,951
Total	9,997
Accumulated Depreciation	(1,814)
840 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,690
Building and Improvements	4,579
Costs Capitalized Subsequent to Acquisition	1,114
Gross Amount at Which Carried As of Year End
Land	5,830
Buildings and Improvements	5,126
Total	10,956
Accumulated Depreciation	(2,252)
1418 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	11,700
Building and Improvements	31,243
Costs Capitalized Subsequent to Acquisition	61,052
Gross Amount at Which Carried As of Year End
Land	11,700
Buildings and Improvements	85,932
Total	97,632
Accumulated Depreciation	(9,191)
1419 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,324
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	29,811
Gross Amount at Which Carried As of Year End
Land	2,324
Buildings and Improvements	29,811
Total	32,135
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(1)	4,200
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	33,662
Gross Amount at Which Carried As of Year End
Land	4,200
Buildings and Improvements	33,662
Total	37,862
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(1)	7,000
Building 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	(13,228)
1422 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,179
Building and Improvements	3,687
Costs Capitalized Subsequent to Acquisition	5,174
Gross Amount at Which Carried As of Year End
Land	7,336
Buildings and Improvements	8,661
Total	15,997
Accumulated Depreciation	(4,864)
1423 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,400
Building and Improvements	33,144
Costs Capitalized Subsequent to Acquisition	32,176
Gross Amount at Which Carried As of Year End
Land	8,400
Buildings and Improvements	65,312
Total	73,712
Accumulated Depreciation	(14,492)
1514 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,200
Building 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(1)	7,740
Building and Improvements	22,654
Costs Capitalized Subsequent to Acquisition	21,623
Gross Amount at Which Carried As of Year End
Land	7,888
Buildings and Improvements	40,559
Total	48,447
Accumulated Depreciation	(22,683)
1947 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,581
Building and Improvements	10,534
Costs Capitalized Subsequent to Acquisition	4,444
Gross Amount at Which Carried As of Year End
Land	2,581
Buildings and Improvements	14,979
Total	17,560
Accumulated Depreciation	(6,253)
1948 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,879
Building and Improvements	25,305
Costs Capitalized Subsequent to Acquisition	9,844
Gross Amount at Which Carried As of Year End
Land	5,879
Buildings and Improvements	32,844
Total	38,723
Accumulated Depreciation	(9,683)
2197 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,621
Building and Improvements	3,913
Costs Capitalized Subsequent to Acquisition	8,761
Gross Amount at Which Carried As of Year End
Land	7,626
Buildings and Improvements	11,372
Total	18,998
Accumulated Depreciation	(5,189)
2476 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,661
Building and Improvements	9,918
Costs Capitalized Subsequent to Acquisition	13,711
Gross Amount at Which Carried As of Year End
Land	7,661
Buildings and Improvements	23,629
Total	31,290
Accumulated Depreciation	(1,384)
2477 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	9,207
Building and Improvements	14,613
Costs Capitalized Subsequent to Acquisition	6,641
Gross Amount at Which Carried As of Year End
Land	9,207
Buildings and Improvements	21,254
Total	30,461
Accumulated Depreciation	(5,140)
2478 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,650
Gross Amount at Which Carried As of Year End
Land	6,000
Buildings and Improvements	16,650
Total	22,650
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(1)	2,734
Building and Improvements	5,195
Costs Capitalized Subsequent to Acquisition	16,693
Gross Amount at Which Carried As of Year End
Land	2,734
Buildings and Improvements	21,888
Total	24,622
Accumulated Depreciation	(4,899)
2618 San Diego, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,100
Building and Improvements	12,395
Costs Capitalized Subsequent to Acquisition	22,854
Gross Amount at Which Carried As of Year End
Land	4,100
Buildings and Improvements	35,249
Total	39,349
Accumulated Depreciation	(6,078)
2622 San Diego, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	17,025
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	17,025
Total	17,025
Accumulated Depreciation	(792)
2872 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	10,120
Building 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	39,996
Total	50,116
Accumulated Depreciation	(5,396)
2873 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,052
Building and Improvements	14,122
Costs Capitalized Subsequent to Acquisition	1,307
Gross Amount at Which Carried As of Year End
Land	6,052
Buildings and Improvements	15,566
Total	21,618
Accumulated Depreciation	(1,909)
3069 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,054
Building and Improvements	7,794
Costs Capitalized Subsequent to Acquisition	19,581
Gross Amount at Which Carried As of Year End
Land	7,054
Buildings and Improvements	27,037
Total	34,091
Accumulated Depreciation	(881)
3110 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	20,543
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(31)
Gross Amount at Which Carried As of Year End
Land	20,543
Buildings and Improvements	(31)
Total	20,512
Accumulated Depreciation	0
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(1)	7,182
Building and Improvements	12,140
Costs Capitalized Subsequent to Acquisition	12,619
Gross Amount at Which Carried As of Year End
Land	7,186
Buildings and Improvements	15,429
Total	22,615
Accumulated Depreciation	(6,797)
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(1)	9,000
Building 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	17,903
Total	26,903
Accumulated Depreciation	(10,734)
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(1)	18,000
Building and Improvements	38,043
Costs Capitalized Subsequent to Acquisition	4,703
Gross Amount at Which Carried As of Year End
Land	18,000
Buildings and Improvements	40,116
Total	58,116
Accumulated Depreciation	(23,924)
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(1)	4,900
Building and Improvements	18,100
Costs Capitalized Subsequent to Acquisition	12,945
Gross Amount at Which Carried As of Year End
Land	4,900
Buildings and Improvements	30,570
Total	35,470
Accumulated Depreciation	(10,841)
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(1)	8,000
Building and Improvements	27,700
Costs Capitalized Subsequent to Acquisition	39,099
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	65,915
Total	73,915
Accumulated Depreciation	(16,138)
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(1)	10,100
Building and Improvements	22,521
Costs Capitalized Subsequent to Acquisition	4,591
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	25,082
Total	35,182
Accumulated Depreciation	(9,017)
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(1)	8,000
Building and Improvements	28,299
Costs Capitalized Subsequent to Acquisition	8,822
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	36,774
Total	44,774
Accumulated Depreciation	(14,040)
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(1)	3,700
Building and Improvements	20,800
Costs Capitalized Subsequent to Acquisition	2,460
Gross Amount at Which Carried As of Year End
Land	3,700
Buildings and Improvements	21,286
Total	24,986
Accumulated Depreciation	(8,423)
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(1)	10,700
Building and Improvements	23,621
Costs Capitalized Subsequent to Acquisition	28,766
Gross Amount at Which Carried As of Year End
Land	10,700
Buildings and Improvements	49,922
Total	60,622
Accumulated Depreciation	(9,642)
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(1)	7,000
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	9,962
Gross Amount at Which Carried As of Year End
Land	7,000
Buildings and Improvements	25,402
Total	32,402
Accumulated Depreciation	(7,924)
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(1)	13,800
Building 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	(30,980)
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(1)	14,500
Building 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	(31,332)
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(1)	9,400
Building and Improvements	24,800
Costs Capitalized Subsequent to Acquisition	51,675
Gross Amount at Which Carried As of Year End
Land	9,400
Buildings and Improvements	65,204
Total	74,604
Accumulated Depreciation	(21,850)
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(1)	11,900
Building and Improvements	68,848
Costs Capitalized Subsequent to Acquisition	550
Gross Amount at Which Carried As of Year End
Land	11,900
Buildings and Improvements	69,398
Total	81,298
Accumulated Depreciation	(24,852)
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(1)	10,000
Building 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	58,355
Total	68,355
Accumulated Depreciation	(20,943)
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(1)	9,300
Building 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	(15,700)
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(1)	11,000
Building and Improvements	47,289
Costs Capitalized Subsequent to Acquisition	179
Gross Amount at Which Carried As of Year End
Land	11,000
Buildings and Improvements	47,386
Total	58,386
Accumulated Depreciation	(17,049)
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(1)	13,200
Building 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	62,319
Total	75,519
Accumulated Depreciation	(22,303)
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(1)	10,500
Building and Improvements	33,776
Costs Capitalized Subsequent to Acquisition	974
Gross Amount at Which Carried As of Year End
Land	10,500
Buildings and Improvements	34,750
Total	45,250
Accumulated Depreciation	(12,611)
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(1)	10,600
Building 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	(12,289)
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(1)	10,900
Building and Improvements	20,900
Costs Capitalized Subsequent to Acquisition	10,873
Gross Amount at Which Carried As of Year End
Land	10,909
Buildings and Improvements	23,645
Total	34,554
Accumulated Depreciation	(7,995)
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(1)	9,800
Building and Improvements	400
Costs Capitalized Subsequent to Acquisition	37,120
Gross Amount at Which Carried As of Year End
Land	9,800
Buildings and Improvements	37,126
Total	46,926
Accumulated Depreciation	0
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(1)	7,117
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	5,892
Gross Amount at Which Carried As of Year End
Land	7,117
Buildings and Improvements	4,706
Total	11,823
Accumulated Depreciation	(1,451)
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(1)	10,381
Building and Improvements	2,300
Costs Capitalized Subsequent to Acquisition	20,991
Gross Amount at Which Carried As of Year End
Land	10,381
Buildings and Improvements	20,944
Total	31,325
Accumulated Depreciation	(6,798)
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(1)	7,403
Building 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	(2,245)
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(1)	10,100
Building and Improvements	24,013
Costs Capitalized Subsequent to Acquisition	15,570
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	35,828
Total	45,928
Accumulated Depreciation	(11,552)
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(1)	32,210
Building and Improvements	3,110
Costs Capitalized Subsequent to Acquisition	50,355
Gross Amount at Which Carried As of Year End
Land	32,210
Buildings and Improvements	53,465
Total	85,675
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(1)	5,666
Building 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	(17,861)
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)	1,204
Building 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	3,970
Total	5,180
Accumulated Depreciation	(2,217)
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(1)	8,648
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	96,596
Gross Amount at Which Carried As of Year End
Land	8,648
Buildings and Improvements	96,596
Total	105,244
Accumulated Depreciation	(25,047)
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(1)	7,845
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	93,570
Gross Amount at Which Carried As of Year End
Land	7,844
Buildings and Improvements	93,192
Total	101,036
Accumulated Depreciation	(21,650)
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(1)	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	122,891
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	122,891
Total	129,599
Accumulated Depreciation	(25,171)
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(1)	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	108,717
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	108,717
Total	115,425
Accumulated Depreciation	(18,117)
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(1)	8,544
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,703
Gross Amount at Which Carried As of Year End
Land	8,544
Buildings and Improvements	100,703
Total	109,247
Accumulated Depreciation	(13,741)
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(1)	10,120
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	120,091
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	120,091
Total	130,211
Accumulated Depreciation	(17,262)
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(1)	9,169
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,023
Gross Amount at Which Carried As of Year End
Land	9,169
Buildings and Improvements	100,023
Total	109,192
Accumulated Depreciation	(8,784)
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(1)	2,897
Building and Improvements	8,691
Costs Capitalized Subsequent to Acquisition	4,951
Gross Amount at Which Carried As of Year End
Land	2,897
Buildings and Improvements	13,642
Total	16,539
Accumulated Depreciation	(3,246)
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(1)	995
Building and Improvements	2,754
Costs Capitalized Subsequent to Acquisition	3,090
Gross Amount at Which Carried As of Year End
Land	995
Buildings and Improvements	5,229
Total	6,224
Accumulated Depreciation	(703)
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(1)	2,202
Building and Improvements	10,776
Costs Capitalized Subsequent to Acquisition	2,200
Gross Amount at Which Carried As of Year End
Land	2,202
Buildings and Improvements	12,908
Total	15,110
Accumulated Depreciation	(2,197)
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(1)	2,962
Building and Improvements	15,108
Costs Capitalized Subsequent to Acquisition	1,107
Gross Amount at Which Carried As of Year End
Land	2,962
Buildings and Improvements	16,215
Total	19,177
Accumulated Depreciation	(2,908)
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(1)	2,453
Building 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	(4,071)
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)	1,163
Building and Improvements	5,925
Costs Capitalized Subsequent to Acquisition	315
Gross Amount at Which Carried As of Year End
Land	1,163
Buildings and Improvements	6,240
Total	7,403
Accumulated Depreciation	(1,062)
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(1)	5,079
Building 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	8,949
Total	14,032
Accumulated Depreciation	(6,519)
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(1)	7,984
Building 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	14,203
Total	22,191
Accumulated Depreciation	(10,325)
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(1)	8,355
Building and Improvements	14,121
Costs Capitalized Subsequent to Acquisition	2,368
Gross Amount at Which Carried As of Year End
Land	8,358
Buildings and Improvements	14,809
Total	23,167
Accumulated Depreciation	(8,088)
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(1)	25,502
Building and Improvements	42,910
Costs Capitalized Subsequent to Acquisition	13,246
Gross Amount at Which Carried As of Year End
Land	25,502
Buildings and Improvements	55,687
Total	81,189
Accumulated Depreciation	(8,875)
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(1)	23,297
Building and Improvements	41,797
Costs Capitalized Subsequent to Acquisition	28,649
Gross Amount at Which Carried As of Year End
Land	23,297
Buildings and Improvements	70,446
Total	93,743
Accumulated Depreciation	(8,892)
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(1)	20,293
Building and Improvements	41,262
Costs Capitalized Subsequent to Acquisition	21,501
Gross Amount at Which Carried As of Year End
Land	20,293
Buildings and Improvements	62,763
Total	83,056
Accumulated Depreciation	(11,105)
3100 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)	24,062
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	577
Gross Amount at Which Carried As of Year End
Land	24,062
Buildings and Improvements	577
Total	24,639
Accumulated Depreciation	0
3101 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)	61,189
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	833
Gross Amount at Which Carried As of Year End
Land	61,189
Buildings and Improvements	833
Total	62,022
Accumulated Depreciation	0
3102 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)	43,885
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	376
Gross Amount at Which Carried As of Year End
Land	43,885
Buildings and Improvements	376
Total	44,261
Accumulated Depreciation	0
2705 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	24,371
Building and Improvements	128,498
Costs Capitalized Subsequent to Acquisition	41
Gross Amount at Which Carried As of Year End
Land	24,371
Buildings and Improvements	128,539
Total	152,910
Accumulated Depreciation	(4,661)
2706 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	15,473
Building and Improvements	149,051
Costs Capitalized Subsequent to Acquisition	8
Gross Amount at Which Carried As of Year End
Land	15,473
Buildings and Improvements	149,059
Total	164,532
Accumulated Depreciation	(5,921)
2707 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	25,549
Building and Improvements	229,547
Costs Capitalized Subsequent to Acquisition	991
Gross Amount at Which Carried As of Year End
Land	25,549
Buildings and Improvements	230,538
Total	256,087
Accumulated Depreciation	(8,323)
2708 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	17,751
Costs Capitalized Subsequent to Acquisition	227
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	17,977
Total	17,977
Accumulated Depreciation	(483)
2709 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	15,451
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	15,451
Total	15,451
Accumulated Depreciation	(418)
2928 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	44,215
Building and Improvements	24,120
Costs Capitalized Subsequent to Acquisition	2,630
Gross Amount at Which Carried As of Year End
Land	44,215
Buildings and Improvements	25,521
Total	69,736
Accumulated Depreciation	(1,851)
2929 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	20,517
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	54,470
Gross Amount at Which Carried As of Year End
Land	20,517
Buildings and Improvements	54,470
Total	74,987
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(1)	78,762
Building and Improvements	252,153
Costs Capitalized Subsequent to Acquisition	8,946
Gross Amount at Which Carried As of Year End
Land	78,762
Buildings and Improvements	261,099
Total	339,861
Accumulated Depreciation	(16,278)
3106 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	20,669
Building and Improvements	2,970
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	20,669
Buildings and Improvements	2,970
Total	23,639
Accumulated Depreciation	(34)
3107 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	19,009
Building and Improvements	12,327
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	19,009
Buildings and Improvements	12,327
Total	31,336
Accumulated Depreciation	(120)
3108 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	123,074
Building and Improvements	7,513
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	123,074
Buildings and Improvements	7,513
Total	130,587
Accumulated Depreciation	(97)
3109 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,903
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	5,903
Buildings and Improvements	0
Total	5,903
Accumulated Depreciation	0
3112 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	23,402
Building and Improvements	47,637
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	23,402
Buildings and Improvements	47,637
Total	71,039
Accumulated Depreciation	(438)
3113 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	35,831
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	489
Gross Amount at Which Carried As of Year End
Land	35,831
Buildings and Improvements	489
Total	36,320
Accumulated Depreciation	0
3114 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	22,969
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(329)
Gross Amount at Which Carried As of Year End
Land	22,969
Buildings and Improvements	(329)
Total	22,640
Accumulated Depreciation	0
3115 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	66,786
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(18)
Gross Amount at Which Carried As of Year End
Land	66,786
Buildings and Improvements	(18)
Total	66,768
Accumulated Depreciation	0
3119 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	29,656
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	29,656
Total	29,656
Accumulated Depreciation	(157)
3120 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	18,050
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16
Gross Amount at Which Carried As of Year End
Land	18,050
Buildings and Improvements	16
Total	18,066
Accumulated Depreciation	0
3122 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	25,247
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	106
Gross Amount at Which Carried As of Year End
Land	25,247
Buildings and Improvements	106
Total	25,353
Accumulated Depreciation	0
3136 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,108
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(2)
Gross Amount at Which Carried As of Year End
Land	4,108
Buildings and Improvements	(2)
Total	4,106
Accumulated Depreciation	0
3137 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	41,314
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	89
Gross Amount at Which Carried As of Year End
Land	41,314
Buildings and Improvements	89
Total	41,403
Accumulated Depreciation	0
2630 Lexington, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	16,411
Building and Improvements	49,681
Costs Capitalized Subsequent to Acquisition	606
Gross Amount at Which Carried As of Year End
Land	16,411
Buildings and Improvements	50,288
Total	66,699
Accumulated Depreciation	(9,471)
2631 Lexington, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,759
Building and Improvements	142,081
Costs Capitalized Subsequent to Acquisition	23,120
Gross Amount at Which Carried As of Year End
Land	7,759
Buildings and Improvements	163,483
Total	171,242
Accumulated Depreciation	(20,200)
2632 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	21,390
Costs Capitalized Subsequent to Acquisition	125,368
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	146,758
Total	146,758
Accumulated Depreciation	(5,828)
3070 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	14,013
Building and Improvements	17,083
Costs Capitalized Subsequent to Acquisition	37
Gross Amount at Which Carried As of Year End
Land	14,013
Buildings and Improvements	17,120
Total	31,133
Accumulated Depreciation	(1,599)
3071 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	14,930
Building and Improvements	16,677
Costs Capitalized Subsequent to Acquisition	231
Gross Amount at Which Carried As of Year End
Land	14,930
Buildings and Improvements	16,153
Total	31,083
Accumulated Depreciation	(1,192)
3072 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	34,598
Building and Improvements	43,032
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	34,598
Buildings and Improvements	42,744
Total	77,342
Accumulated Depreciation	(4,130)
3073 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	37,050
Building and Improvements	44,647
Costs Capitalized Subsequent to Acquisition	53
Gross Amount at Which Carried As of Year End
Land	37,050
Buildings and Improvements	44,699
Total	81,749
Accumulated Depreciation	(4,398)
3093 Waltham, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	47,791
Building and Improvements	275,556
Costs Capitalized Subsequent to Acquisition	17,027
Gross Amount at Which Carried As of Year End
Land	47,791
Buildings and Improvements	290,923
Total	338,714
Accumulated Depreciation	(15,528)
2011 Durham NC | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	448
Building and Improvements	6,152
Costs Capitalized Subsequent to Acquisition	22,660
Gross Amount at Which Carried As of Year End
Land	448
Buildings and Improvements	23,154
Total	23,602
Accumulated Depreciation	(6,419)
2030 Durham NC | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,920
Building and Improvements	5,661
Costs Capitalized Subsequent to Acquisition	34,804
Gross Amount at Which Carried As of Year End
Land	1,920
Buildings and Improvements	40,465
Total	42,385
Accumulated Depreciation	(14,789)
9999 Denton TX | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	100
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	72
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	0
Total	100
Accumulated Depreciation	0
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(1)	630
Building 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	9,484
Total	10,114
Accumulated Depreciation	(4,916)
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(1)	125
Building 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	(2,971)
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(1)	0
Building and Improvements	14,614
Costs Capitalized Subsequent to Acquisition	73
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,213
Total	13,213
Accumulated Depreciation	(4,711)
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(1)	0
Building and Improvements	14,600
Costs Capitalized Subsequent to Acquisition	116
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,716
Total	14,716
Accumulated Depreciation	(5,354)
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(1)	0
Building and Improvements	23,998
Costs Capitalized Subsequent to Acquisition	35
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	24,033
Total	24,033
Accumulated Depreciation	(8,302)
638 Anchorage AK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,456
Building and Improvements	10,650
Costs Capitalized Subsequent to Acquisition	13,322
Gross Amount at Which Carried As of Year End
Land	1,456
Buildings and Improvements	21,637
Total	23,093
Accumulated Depreciation	(8,880)
0126 Sherwood, AR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	709
Building 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	(6,471)
2572 Springdale AR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building 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	(4,581)
520 Chandler AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,669
Building and Improvements	13,503
Costs Capitalized Subsequent to Acquisition	7,644
Gross Amount at Which Carried As of Year End
Land	3,799
Buildings and Improvements	19,364
Total	23,163
Accumulated Depreciation	(7,702)
0113 Glendale, AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,565
Building 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	(4,969)
2040 Mesa AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	17,314
Costs Capitalized Subsequent to Acquisition	2,128
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,748
Total	18,748
Accumulated Depreciation	(4,369)
1066 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,115
Building and Improvements	14,064
Costs Capitalized Subsequent to Acquisition	6,565
Gross Amount at Which Carried As of Year End
Land	4,839
Buildings and Improvements	18,403
Total	23,242
Accumulated Depreciation	(6,943)
2021 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,312
Costs Capitalized Subsequent to Acquisition	6,940
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,193
Total	18,193
Accumulated Depreciation	(7,494)
2022 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	9,179
Costs Capitalized Subsequent to Acquisition	3,740
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,228
Total	12,228
Accumulated Depreciation	(5,473)
2023 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,398
Costs Capitalized Subsequent to Acquisition	2,351
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,309
Total	8,309
Accumulated Depreciation	(3,811)
2024 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	9,522
Costs Capitalized Subsequent to Acquisition	1,143
Gross Amount at Which Carried As of Year End
Land	32
Buildings and Improvements	10,195
Total	10,227
Accumulated Depreciation	(4,055)
2025 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,102
Costs Capitalized Subsequent to Acquisition	2,507
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,210
Total	6,210
Accumulated Depreciation	(3,188)
2026 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	3,655
Costs Capitalized Subsequent to Acquisition	2,335
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,703
Total	5,703
Accumulated Depreciation	(2,273)
2027 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,168
Costs Capitalized Subsequent to Acquisition	3,015
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,756
Total	9,756
Accumulated Depreciation	(4,277)
2028 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,659
Costs Capitalized Subsequent to Acquisition	5,250
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,434
Total	11,434
Accumulated Depreciation	(4,083)
2696 Scottsdale, AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	10,151
Building and Improvements	14,925
Costs Capitalized Subsequent to Acquisition	1,904
Gross Amount at Which Carried As of Year End
Land	10,211
Buildings and Improvements	16,761
Total	26,972
Accumulated Depreciation	(1,957)
1041 Brentwood CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building 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	32,769
Total	33,078
Accumulated Depreciation	(13,284)
1200 Encino CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,151
Building and Improvements	10,438
Costs Capitalized Subsequent to Acquisition	7,662
Gross Amount at Which Carried As of Year End
Land	6,756
Buildings and Improvements	14,969
Total	21,725
Accumulated Depreciation	(6,657)
1038 Fresno CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,652
Building 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	(21,220)
436 Murietta CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	400
Building and Improvements	9,266
Costs Capitalized Subsequent to Acquisition	5,295
Gross Amount at Which Carried As of Year End
Land	749
Buildings and Improvements	12,215
Total	12,964
Accumulated Depreciation	(7,776)
239 Poway CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,700
Building and Improvements	10,839
Costs Capitalized Subsequent to Acquisition	5,835
Gross Amount at Which Carried As of Year End
Land	3,013
Buildings and Improvements	13,344
Total	16,357
Accumulated Depreciation	(8,386)
2654 Riverside, CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,758
Building and Improvements	9,908
Costs Capitalized Subsequent to Acquisition	959
Gross Amount at Which Carried As of Year End
Land	2,758
Buildings and Improvements	10,748
Total	13,506
Accumulated Depreciation	(1,779)
318 Sacramento CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,860
Building and Improvements	37,566
Costs Capitalized Subsequent to Acquisition	28,185
Gross Amount at Which Carried As of Year End
Land	2,911
Buildings and Improvements	63,572
Total	66,483
Accumulated Depreciation	(21,962)
2404 Sacramento CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,268
Building and Improvements	5,109
Costs Capitalized Subsequent to Acquisition	1,210
Gross Amount at Which Carried As of Year End
Land	1,299
Buildings and Improvements	6,149
Total	7,448
Accumulated Depreciation	(1,967)
421 San Diego CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,910
Building and Improvements	19,984
Costs Capitalized Subsequent to Acquisition	16,437
Gross Amount at Which Carried As of Year End
Land	2,964
Buildings and Improvements	35,048
Total	38,012
Accumulated Depreciation	(14,595)
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)	1,935
Building and Improvements	1,728
Costs Capitalized Subsequent to Acquisition	3,437
Gross Amount at Which Carried As of Year End
Land	1,935
Buildings and Improvements	3,204
Total	5,139
Accumulated Depreciation	(1,477)
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)	1,460
Building and Improvements	7,672
Costs Capitalized Subsequent to Acquisition	1,322
Gross Amount at Which Carried As of Year End
Land	1,460
Buildings and Improvements	8,452
Total	9,912
Accumulated Depreciation	(3,955)
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)	1,718
Building and Improvements	3,124
Costs Capitalized Subsequent to Acquisition	1,191
Gross Amount at Which Carried As of Year End
Land	1,758
Buildings and Improvements	3,837
Total	5,595
Accumulated Depreciation	(1,567)
439 Valencia CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,300
Building and Improvements	6,967
Costs Capitalized Subsequent to Acquisition	5,062
Gross Amount at Which Carried As of Year End
Land	2,404
Buildings and Improvements	9,736
Total	12,140
Accumulated Depreciation	(5,468)
440 West Hills CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,100
Building and Improvements	11,595
Costs Capitalized Subsequent to Acquisition	6,212
Gross Amount at Which Carried As of Year End
Land	2,259
Buildings and Improvements	12,889
Total	15,148
Accumulated Depreciation	(7,186)
3008 West Hills CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,010
Initial Cost to Company
Land(1)	5,795
Building and Improvements	13,933
Costs Capitalized Subsequent to Acquisition	546
Gross Amount at Which Carried As of Year End
Land	5,795
Buildings and Improvements	14,399
Total	20,194
Accumulated Depreciation	(450)
728 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,764
Costs Capitalized Subsequent to Acquisition	4,492
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,533
Total	9,533
Accumulated Depreciation	(4,055)
1196 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	210
Building and Improvements	12,362
Costs Capitalized Subsequent to Acquisition	7,988
Gross Amount at Which Carried As of Year End
Land	210
Buildings and Improvements	18,831
Total	19,041
Accumulated Depreciation	(6,745)
1197 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	200
Building and Improvements	8,414
Costs Capitalized Subsequent to Acquisition	7,286
Gross Amount at Which Carried As of Year End
Land	285
Buildings and Improvements	14,469
Total	14,754
Accumulated Depreciation	(5,512)
127 Colorado Springs, CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	690
Building 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	(5,683)
882 Colorado Springs CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,933
Costs Capitalized Subsequent to Acquisition	11,973
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	20,602
Total	20,602
Accumulated Depreciation	(8,610)
1199 Denver CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	493
Building and Improvements	7,897
Costs Capitalized Subsequent to Acquisition	2,793
Gross Amount at Which Carried As of Year End
Land	622
Buildings and Improvements	9,557
Total	10,179
Accumulated Depreciation	(4,360)
808 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,616
Costs Capitalized Subsequent to Acquisition	11,321
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	17,120
Total	17,131
Accumulated Depreciation	(9,071)
809 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,449
Costs Capitalized Subsequent to Acquisition	8,818
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,490
Total	14,490
Accumulated Depreciation	(5,490)
810 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,040
Costs Capitalized Subsequent to Acquisition	14,422
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,288
Total	18,288
Accumulated Depreciation	(7,528)
811 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,472
Costs Capitalized Subsequent to Acquisition	14,365
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,838
Total	19,838
Accumulated Depreciation	(7,328)
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)	1,637
Building 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	(1,548)
812 Littleton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,562
Costs Capitalized Subsequent to Acquisition	3,574
Gross Amount at Which Carried As of Year End
Land	257
Buildings and Improvements	6,293
Total	6,550
Accumulated Depreciation	(2,947)
813 Littleton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,926
Costs Capitalized Subsequent to Acquisition	3,267
Gross Amount at Which Carried As of Year End
Land	106
Buildings and Improvements	6,730
Total	6,836
Accumulated Depreciation	(2,691)
570 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	23,058
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,596
Total	21,596
Accumulated Depreciation	(9,069)
666 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	23,274
Costs Capitalized Subsequent to Acquisition	5,592
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	26,273
Total	26,290
Accumulated Depreciation	(10,676)
2233 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,734
Costs Capitalized Subsequent to Acquisition	32,347
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	38,472
Total	38,472
Accumulated Depreciation	(11,146)
3000 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,393
Building and Improvements	31,643
Costs Capitalized Subsequent to Acquisition	3,201
Gross Amount at Which Carried As of Year End
Land	4,393
Buildings and Improvements	34,844
Total	39,237
Accumulated Depreciation	(746)
510 Thornton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	236
Building and Improvements	10,206
Costs Capitalized Subsequent to Acquisition	13,754
Gross Amount at Which Carried As of Year End
Land	463
Buildings and Improvements	21,383
Total	21,846
Accumulated Depreciation	(5,870)
434 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	2,027
Costs Capitalized Subsequent to Acquisition	552
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	2,335
Total	2,340
Accumulated Depreciation	(1,422)
435 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	1,206
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,533
Total	2,533
Accumulated Depreciation	(1,580)
602 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	455
Building and Improvements	2,231
Costs Capitalized Subsequent to Acquisition	1,029
Gross Amount at Which Carried As of Year End
Land	455
Buildings and Improvements	2,692
Total	3,147
Accumulated Depreciation	(1,334)
2963 Brooksville FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,509
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,509
Total	11,509
Accumulated Depreciation	(308)
604 Englewood FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	170
Building and Improvements	1,134
Costs Capitalized Subsequent to Acquisition	1,165
Gross Amount at Which Carried As of Year End
Land	226
Buildings and Improvements	1,867
Total	2,093
Accumulated Depreciation	(628)
2962 Jacksonville FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,751
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,751
Total	11,751
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(1)	788
Building and Improvements	174
Costs Capitalized Subsequent to Acquisition	1,246
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	1,239
Total	2,027
Accumulated Depreciation	(426)
610 Kissimmee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	481
Building and Improvements	347
Costs Capitalized Subsequent to Acquisition	858
Gross Amount at Which Carried As of Year End
Land	494
Buildings and Improvements	619
Total	1,113
Accumulated Depreciation	(332)
671 Kissimmee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,574
Costs Capitalized Subsequent to Acquisition	2,760
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,253
Total	8,253
Accumulated Depreciation	(3,617)
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)	1,507
Building 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	3,042
Total	4,549
Accumulated Depreciation	(1,450)
612 Margate FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,553
Building and Improvements	6,898
Costs Capitalized Subsequent to Acquisition	2,598
Gross Amount at Which Carried As of Year End
Land	1,553
Buildings and Improvements	8,683
Total	10,236
Accumulated Depreciation	(3,833)
613 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,392
Building and Improvements	11,841
Costs Capitalized Subsequent to Acquisition	14,563
Gross Amount at Which Carried As of Year End
Land	4,392
Buildings and Improvements	22,458
Total	26,850
Accumulated Depreciation	(6,372)
2202 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	13,123
Costs Capitalized Subsequent to Acquisition	10,989
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,516
Total	23,516
Accumulated Depreciation	(7,460)
2203 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,877
Costs Capitalized Subsequent to Acquisition	4,544
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,987
Total	12,987
Accumulated Depreciation	(4,067)
1067 Milton FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,566
Costs Capitalized Subsequent to Acquisition	1,043
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,528
Total	9,528
Accumulated Depreciation	(3,459)
2577 Naples FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	29,186
Costs Capitalized Subsequent to Acquisition	1,805
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	30,991
Total	30,991
Accumulated Depreciation	(4,816)
2578 Naples FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	18,819
Costs Capitalized Subsequent to Acquisition	667
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,486
Total	19,486
Accumulated Depreciation	(2,586)
2964 Okeechobee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	15,219
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	15,219
Total	15,219
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(1)	2,144
Building and Improvements	5,136
Costs Capitalized Subsequent to Acquisition	16,445
Gross Amount at Which Carried As of Year End
Land	12,268
Buildings and Improvements	7,717
Total	19,985
Accumulated Depreciation	(5,849)
833 Pace FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	10,309
Costs Capitalized Subsequent to Acquisition	4,168
Gross Amount at Which Carried As of Year End
Land	54
Buildings and Improvements	11,744
Total	11,798
Accumulated Depreciation	(4,138)
834 Pensacola FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	11,166
Costs Capitalized Subsequent to Acquisition	669
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,358
Total	11,358
Accumulated Depreciation	(3,969)
673 Plantation FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,091
Building and Improvements	7,176
Costs Capitalized Subsequent to Acquisition	2,843
Gross Amount at Which Carried As of Year End
Land	1,091
Buildings and Improvements	9,014
Total	10,105
Accumulated Depreciation	(3,654)
674 Plantation FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,273
Costs Capitalized Subsequent to Acquisition	9
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,282
Total	8,282
Accumulated Depreciation	(210)
2579 Punta Gorda FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	9,379
Costs Capitalized Subsequent to Acquisition	279
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,658
Total	9,658
Accumulated Depreciation	(1,398)
2833 St. Petersburg FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	13,754
Costs Capitalized Subsequent to Acquisition	14,478
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,083
Total	23,083
Accumulated Depreciation	(8,143)
2836 Tampa FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,967
Building and Improvements	6,618
Costs Capitalized Subsequent to Acquisition	8,661
Gross Amount at Which Carried As of Year End
Land	2,700
Buildings and Improvements	10,614
Total	13,314
Accumulated Depreciation	(6,370)
887 Atlanta, GA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,300
Building 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	(8,818)
2576 Statesboro GA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	10,234
Costs Capitalized Subsequent to Acquisition	439
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,673
Total	10,673
Accumulated Depreciation	(2,111)
3006 Arlington Heights IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,830
Initial Cost to Company
Land(1)	3,011
Building and Improvements	9,651
Costs Capitalized Subsequent to Acquisition	12
Gross Amount at Which Carried As of Year End
Land	3,011
Buildings and Improvements	9,642
Total	12,653
Accumulated Depreciation	(316)
2702 Bolingbrook, IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	21,237
Costs Capitalized Subsequent to Acquisition	612
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,833
Total	21,833
Accumulated Depreciation	(999)
3004 Highland Park IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,816
Initial Cost to Company
Land(1)	2,767
Building and Improvements	11,491
Costs Capitalized Subsequent to Acquisition	104
Gross Amount at Which Carried As of Year End
Land	2,767
Buildings and Improvements	11,572
Total	14,339
Accumulated Depreciation	(302)
3005 Lockport IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	10,942
Initial Cost to Company
Land(1)	3,106
Building and Improvements	22,645
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,106
Buildings and Improvements	22,645
Total	25,751
Accumulated Depreciation	(564)
1065 Marion IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	99
Building and Improvements	11,538
Costs Capitalized Subsequent to Acquisition	2,192
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	13,254
Total	13,354
Accumulated Depreciation	(5,112)
2719 Marion IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	4,767
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	4,767
Total	4,767
Accumulated Depreciation	0
2696 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	59,746
Costs Capitalized Subsequent to Acquisition	479
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	60,224
Total	60,224
Accumulated Depreciation	(2,199)
2699 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	23,211
Costs Capitalized Subsequent to Acquisition	590
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,800
Total	23,800
Accumulated Depreciation	(826)
2701 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	478
Building and Improvements	1,637
Costs Capitalized Subsequent to Acquisition	86
Gross Amount at Which Carried As of Year End
Land	478
Buildings and Improvements	1,724
Total	2,202
Accumulated Depreciation	(132)
2698 Mooresville, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	20,646
Costs Capitalized Subsequent to Acquisition	640
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,280
Total	21,280
Accumulated Depreciation	(741)
1057 Newburgh IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	14,019
Costs Capitalized Subsequent to Acquisition	5,315
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,306
Total	19,306
Accumulated Depreciation	(8,422)
2700 Zionsville, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,969
Building and Improvements	7,281
Costs Capitalized Subsequent to Acquisition	718
Gross Amount at Which Carried As of Year End
Land	2,984
Buildings and Improvements	7,963
Total	10,947
Accumulated Depreciation	(385)
2039 Kansas City KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	440
Building and Improvements	2,173
Costs Capitalized Subsequent to Acquisition	153
Gross Amount at Which Carried As of Year End
Land	448
Buildings and Improvements	2,273
Total	2,721
Accumulated Depreciation	(586)
112 Overland Park, KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,316
Building 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	(7,673)
2043 Overland Park KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,668
Costs Capitalized Subsequent to Acquisition	1,759
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,163
Total	9,163
Accumulated Depreciation	(2,664)
3062 Overland Park KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	872
Building and Improvements	11,813
Costs Capitalized Subsequent to Acquisition	430
Gross Amount at Which Carried As of Year End
Land	978
Buildings and Improvements	11,715
Total	12,693
Accumulated Depreciation	(1,471)
483 Wichita KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	530
Building 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	(1,654)
3018 Wichita KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,946
Building and Improvements	39,795
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	3,946
Buildings and Improvements	39,795
Total	43,741
Accumulated Depreciation	(678)
1064 Lexington KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,726
Costs Capitalized Subsequent to Acquisition	2,776
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,614
Total	14,614
Accumulated Depreciation	(5,659)
735 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	936
Building and Improvements	8,426
Costs Capitalized Subsequent to Acquisition	18,685
Gross Amount at Which Carried As of Year End
Land	936
Buildings and Improvements	23,267
Total	24,203
Accumulated Depreciation	(11,961)
737 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	835
Building and Improvements	27,627
Costs Capitalized Subsequent to Acquisition	10,975
Gross Amount at Which Carried As of Year End
Land	878
Buildings and Improvements	35,836
Total	36,714
Accumulated Depreciation	(15,782)
738 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	780
Building and Improvements	8,582
Costs Capitalized Subsequent to Acquisition	7,394
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	12,740
Total	13,591
Accumulated Depreciation	(9,881)
739 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	826
Building and Improvements	13,814
Costs Capitalized Subsequent to Acquisition	3,418
Gross Amount at Which Carried As of Year End
Land	832
Buildings and Improvements	15,461
Total	16,293
Accumulated Depreciation	(6,373)
2834 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,983
Building and Improvements	13,171
Costs Capitalized Subsequent to Acquisition	8,797
Gross Amount at Which Carried As of Year End
Land	2,991
Buildings and Improvements	18,899
Total	21,890
Accumulated Depreciation	(9,136)
1945 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,255
Building and Improvements	28,644
Costs Capitalized Subsequent to Acquisition	2,930
Gross Amount at Which Carried As of Year End
Land	3,339
Buildings and Improvements	30,992
Total	34,331
Accumulated Depreciation	(11,401)
1946 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	430
Building and Improvements	6,125
Costs Capitalized Subsequent to Acquisition	276
Gross Amount at Which Carried As of Year End
Land	430
Buildings and Improvements	6,401
Total	6,831
Accumulated Depreciation	(2,359)
2237 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,519
Building and Improvements	15,386
Costs Capitalized Subsequent to Acquisition	4,701
Gross Amount at Which Carried As of Year End
Land	1,672
Buildings and Improvements	19,916
Total	21,588
Accumulated Depreciation	(6,341)
2238 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,334
Building and Improvements	12,172
Costs Capitalized Subsequent to Acquisition	3,259
Gross Amount at Which Carried As of Year End
Land	1,558
Buildings and Improvements	14,657
Total	16,215
Accumulated Depreciation	(4,532)
2239 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,644
Building and Improvements	10,832
Costs Capitalized Subsequent to Acquisition	6,440
Gross Amount at Which Carried As of Year End
Land	2,091
Buildings and Improvements	16,247
Total	18,338
Accumulated Depreciation	(5,826)
3023 Covington LA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	9,490
Building and Improvements	21,915
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	9,490
Buildings and Improvements	21,915
Total	31,405
Accumulated Depreciation	(172)
3121 Cambrigde MA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	40,643
Building and Improvements	23,102
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	40,643
Buildings and Improvements	23,102
Total	63,745
Accumulated Depreciation	(137)
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)	1,115
Building and Improvements	3,206
Costs Capitalized Subsequent to Acquisition	3,945
Gross Amount at Which Carried As of Year End
Land	1,336
Buildings and Improvements	5,403
Total	6,739
Accumulated Depreciation	(2,544)
1052 Towson MD | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building 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	13,528
Total	13,528
Accumulated Depreciation	(5,109)
2650 Biddeford, ME | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,949
Building and Improvements	12,244
Costs Capitalized Subsequent to Acquisition	29
Gross Amount at Which Carried As of Year End
Land	1,949
Buildings and Improvements	12,273
Total	14,222
Accumulated Depreciation	(1,833)
3002 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	7,689
Initial Cost to Company
Land(1)	2,801
Building and Improvements	17,779
Costs Capitalized Subsequent to Acquisition	180
Gross Amount at Which Carried As of Year End
Land	2,818
Buildings and Improvements	17,943
Total	20,761
Accumulated Depreciation	(836)
3003 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,126
Initial Cost to Company
Land(1)	516
Building and Improvements	13,200
Costs Capitalized Subsequent to Acquisition	161
Gross Amount at Which Carried As of Year End
Land	533
Buildings and Improvements	13,090
Total	13,623
Accumulated Depreciation	(540)
3009 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	18,927
Initial Cost to Company
Land(1)	4,640
Building and Improvements	38,064
Costs Capitalized Subsequent to Acquisition	40
Gross Amount at Which Carried As of Year End
Land	4,640
Buildings and Improvements	38,104
Total	42,744
Accumulated Depreciation	(994)
240 Minneapolis MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	117
Building and Improvements	13,213
Costs Capitalized Subsequent to Acquisition	6,910
Gross Amount at Which Carried As of Year End
Land	117
Buildings and Improvements	18,511
Total	18,628
Accumulated Depreciation	(10,621)
300 Minneapolis MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	160
Building and Improvements	10,131
Costs Capitalized Subsequent to Acquisition	6,094
Gross Amount at Which Carried As of Year End
Land	214
Buildings and Improvements	13,564
Total	13,778
Accumulated Depreciation	(8,024)
2703 Columbia, MO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	4,141
Building and Improvements	20,364
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	4,141
Buildings and Improvements	20,364
Total	24,505
Accumulated Depreciation	(993)
2032 Independence MO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	48,025
Costs Capitalized Subsequent to Acquisition	3,212
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	49,900
Total	49,900
Accumulated Depreciation	(10,982)
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(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	15,877
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	15,877
Total	15,877
Accumulated Depreciation	(1,097)
1078 Flowood MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,413
Costs Capitalized Subsequent to Acquisition	1,839
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,564
Total	9,564
Accumulated Depreciation	(3,334)
1059 Jackson MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,868
Costs Capitalized Subsequent to Acquisition	614
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,463
Total	9,463
Accumulated Depreciation	(3,494)
1060 Jackson MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,187
Costs Capitalized Subsequent to Acquisition	3,009
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,118
Total	9,118
Accumulated Depreciation	(3,211)
1068 Omaha NE | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	16,243
Costs Capitalized Subsequent to Acquisition	2,114
Gross Amount at Which Carried As of Year End
Land	33
Buildings and Improvements	17,626
Total	17,659
Accumulated Depreciation	(6,981)
2651 Charlotte NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,032
Building and Improvements	6,196
Costs Capitalized Subsequent to Acquisition	202
Gross Amount at Which Carried As of Year End
Land	1,032
Buildings and Improvements	6,293
Total	7,325
Accumulated Depreciation	(784)
2695 Charlotte, NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	844
Building and Improvements	5,021
Costs Capitalized Subsequent to Acquisition	74
Gross Amount at Which Carried As of Year End
Land	844
Buildings and Improvements	5,058
Total	5,902
Accumulated Depreciation	(619)
2655 Wilmington NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,341
Building 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	(2,817)
2656 Wilmington NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,071
Building 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	(1,717)
2657 Shallotte NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	918
Building 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	(737)
2647 Concord NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,961
Building and Improvements	23,516
Costs Capitalized Subsequent to Acquisition	385
Gross Amount at Which Carried As of Year End
Land	1,961
Buildings and Improvements	23,608
Total	25,569
Accumulated Depreciation	(3,188)
2648 Concord NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	815
Building and Improvements	8,902
Costs Capitalized Subsequent to Acquisition	423
Gross Amount at Which Carried As of Year End
Land	815
Buildings and Improvements	9,325
Total	10,140
Accumulated Depreciation	(1,671)
2649 Epsom NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	919
Building and Improvements	5,868
Costs Capitalized Subsequent to Acquisition	49
Gross Amount at Which Carried As of Year End
Land	919
Buildings and Improvements	5,909
Total	6,828
Accumulated Depreciation	(1,280)
3011 Cherry Hill NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,235
Building and Improvements	21,731
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	5,235
Buildings and Improvements	21,731
Total	26,966
Accumulated Depreciation	(674)
3012 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	21,703
Building and Improvements	32,504
Costs Capitalized Subsequent to Acquisition	1,327
Gross Amount at Which Carried As of Year End
Land	21,703
Buildings and Improvements	33,831
Total	55,534
Accumulated Depreciation	(689)
3013 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	14,567
Building and Improvements	20,537
Costs Capitalized Subsequent to Acquisition	374
Gross Amount at Which Carried As of Year End
Land	14,567
Buildings and Improvements	20,910
Total	35,477
Accumulated Depreciation	(328)
3014 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	20,563
Building and Improvements	31,838
Costs Capitalized Subsequent to Acquisition	239
Gross Amount at Which Carried As of Year End
Land	20,563
Buildings and Improvements	32,077
Total	52,640
Accumulated Depreciation	(430)
729 Albuquerque NM | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	5,380
Costs Capitalized Subsequent to Acquisition	1,978
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,820
Total	6,820
Accumulated Depreciation	(2,300)
571 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	21,296
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,131
Total	19,131
Accumulated Depreciation	(8,502)
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)	1,121
Building and Improvements	4,363
Costs Capitalized Subsequent to Acquisition	10,787
Gross Amount at Which Carried As of Year End
Land	1,328
Buildings and Improvements	10,923
Total	12,251
Accumulated Depreciation	(3,757)
661 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,305
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,016
Gross Amount at Which Carried As of Year End
Land	3,321
Buildings and Improvements	0
Total	3,321
Accumulated Depreciation	0
662 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,480
Building and Improvements	12,305
Costs Capitalized Subsequent to Acquisition	10,631
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	6,915
Total	7,915
Accumulated Depreciation	(6,915)
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)	1,717
Building and Improvements	3,597
Costs Capitalized Subsequent to Acquisition	14,420
Gross Amount at Which Carried As of Year End
Land	1,724
Buildings and Improvements	15,397
Total	17,121
Accumulated Depreciation	(5,516)
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)	1,172
Building 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	(306)
691 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,073
Building and Improvements	18,339
Costs Capitalized Subsequent to Acquisition	8,639
Gross Amount at Which Carried As of Year End
Land	3,167
Buildings and Improvements	25,245
Total	28,412
Accumulated Depreciation	(13,957)
2037 Mesquite NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	5,559
Costs Capitalized Subsequent to Acquisition	961
Gross Amount at Which Carried As of Year End
Land	34
Buildings and Improvements	6,366
Total	6,400
Accumulated Depreciation	(1,646)
400 Harrison OH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,561
Costs Capitalized Subsequent to Acquisition	300
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	4,561
Total	4,561
Accumulated Depreciation	(2,889)
1054 Durant OK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	619
Building and Improvements	9,256
Costs Capitalized Subsequent to Acquisition	2,982
Gross Amount at Which Carried As of Year End
Land	659
Buildings and Improvements	12,045
Total	12,704
Accumulated Depreciation	(4,459)
817 Owasso OK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,582
Costs Capitalized Subsequent to Acquisition	1,710
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,763
Total	5,763
Accumulated Depreciation	(2,320)
404 Roseburg OR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	5,707
Costs Capitalized Subsequent to Acquisition	852
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,859
Total	5,859
Accumulated Depreciation	(3,561)
3010 Springfield OR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	20,603
Initial Cost to Company
Land(1)	0
Building and Improvements	51,998
Costs Capitalized Subsequent to Acquisition	84
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	51,876
Total	51,876
Accumulated Depreciation	(1,478)
2570 Limerick PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	925
Building and Improvements	20,072
Costs Capitalized Subsequent to Acquisition	51
Gross Amount at Which Carried As of Year End
Land	925
Buildings and Improvements	19,953
Total	20,878
Accumulated Depreciation	(3,624)
2234 Philadelphia PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	24,264
Building and Improvements	99,904
Costs Capitalized Subsequent to Acquisition	48,922
Gross Amount at Which Carried As of Year End
Land	24,288
Buildings and Improvements	148,665
Total	172,953
Accumulated Depreciation	(29,718)
2403 Philadelphia PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	26,063
Building and Improvements	97,646
Costs Capitalized Subsequent to Acquisition	35,265
Gross Amount at Which Carried As of Year End
Land	26,134
Buildings and Improvements	132,787
Total	158,921
Accumulated Depreciation	(34,112)
2571 Wilkes-Barre PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building 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	(1,821)
2694 Anderson, SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	405
Building and Improvements	1,211
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	405
Buildings and Improvements	1,211
Total	1,616
Accumulated Depreciation	(151)
2573 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,090
Costs Capitalized Subsequent to Acquisition	91
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,180
Total	12,180
Accumulated Depreciation	(1,934)
2574 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,190
Costs Capitalized Subsequent to Acquisition	88
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,277
Total	12,277
Accumulated Depreciation	(1,947)
2575 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building 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	(2,195)
2841 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	634
Building and Improvements	38,386
Costs Capitalized Subsequent to Acquisition	1,047
Gross Amount at Which Carried As of Year End
Land	647
Buildings and Improvements	38,769
Total	39,416
Accumulated Depreciation	(5,715)
2842 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	794
Building and Improvements	41,293
Costs Capitalized Subsequent to Acquisition	560
Gross Amount at Which Carried As of Year End
Land	794
Buildings and Improvements	41,058
Total	41,852
Accumulated Depreciation	(5,854)
2843 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	626
Building 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	(3,732)
2844 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	806
Building and Improvements	18,889
Costs Capitalized Subsequent to Acquisition	377
Gross Amount at Which Carried As of Year End
Land	806
Buildings and Improvements	19,266
Total	20,072
Accumulated Depreciation	(3,379)
2845 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	932
Building and Improvements	40,879
Costs Capitalized Subsequent to Acquisition	196
Gross Amount at Which Carried As of Year End
Land	932
Buildings and Improvements	41,075
Total	42,007
Accumulated Depreciation	(6,074)
2846 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	896
Building and Improvements	38,486
Costs Capitalized Subsequent to Acquisition	180
Gross Amount at Which Carried As of Year End
Land	896
Buildings and Improvements	38,666
Total	39,562
Accumulated Depreciation	(5,799)
2847 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	600
Building and Improvements	26,472
Costs Capitalized Subsequent to Acquisition	4,031
Gross Amount at Which Carried As of Year End
Land	600
Buildings and Improvements	30,503
Total	31,103
Accumulated Depreciation	(5,309)
2848 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	318
Building 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	(954)
2849 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	319
Building and Improvements	5,836
Costs Capitalized Subsequent to Acquisition	98
Gross Amount at Which Carried As of Year End
Land	319
Buildings and Improvements	5,935
Total	6,254
Accumulated Depreciation	(1,062)
2850 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	211
Building and Improvements	6,503
Costs Capitalized Subsequent to Acquisition	15
Gross Amount at Which Carried As of Year End
Land	211
Buildings and Improvements	6,518
Total	6,729
Accumulated Depreciation	(1,201)
2853 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	534
Building and Improvements	6,430
Costs Capitalized Subsequent to Acquisition	229
Gross Amount at Which Carried As of Year End
Land	534
Buildings and Improvements	6,659
Total	7,193
Accumulated Depreciation	(1,929)
2854 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	824
Building and Improvements	13,645
Costs Capitalized Subsequent to Acquisition	109
Gross Amount at Which Carried As of Year End
Land	824
Buildings and Improvements	13,755
Total	14,579
Accumulated Depreciation	(2,942)
2851 Travelers Rest SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	498
Building 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	(539)
2862 Myrtle Beach SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	26,238
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	26,238
Total	26,238
Accumulated Depreciation	(2,644)
2865 Brentwood TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	32,671
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	32,671
Total	32,671
Accumulated Depreciation	(1,184)
624 Hendersonville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	256
Building and Improvements	1,530
Costs Capitalized Subsequent to Acquisition	3,306
Gross Amount at Which Carried As of Year End
Land	256
Buildings and Improvements	3,782
Total	4,038
Accumulated Depreciation	(1,723)
559 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	830
Building and Improvements	5,036
Costs Capitalized Subsequent to Acquisition	13,275
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	16,079
Total	16,930
Accumulated Depreciation	(5,863)
561 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	596
Building and Improvements	9,698
Costs Capitalized Subsequent to Acquisition	8,570
Gross Amount at Which Carried As of Year End
Land	596
Buildings and Improvements	14,982
Total	15,578
Accumulated Depreciation	(7,447)
562 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	317
Building and Improvements	6,528
Costs Capitalized Subsequent to Acquisition	4,821
Gross Amount at Which Carried As of Year End
Land	317
Buildings and Improvements	9,255
Total	9,572
Accumulated Depreciation	(4,418)
625 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	955
Building and Improvements	14,289
Costs Capitalized Subsequent to Acquisition	7,741
Gross Amount at Which Carried As of Year End
Land	955
Buildings and Improvements	19,117
Total	20,072
Accumulated Depreciation	(7,845)
626 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,050
Building and Improvements	5,211
Costs Capitalized Subsequent to Acquisition	6,008
Gross Amount at Which Carried As of Year End
Land	2,055
Buildings and Improvements	8,644
Total	10,699
Accumulated Depreciation	(3,869)
627 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,007
Building and Improvements	181
Costs Capitalized Subsequent to Acquisition	1,484
Gross Amount at Which Carried As of Year End
Land	1,113
Buildings and Improvements	1,099
Total	2,212
Accumulated Depreciation	(402)
628 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,980
Building and Improvements	7,164
Costs Capitalized Subsequent to Acquisition	4,860
Gross Amount at Which Carried As of Year End
Land	2,980
Buildings and Improvements	10,762
Total	13,742
Accumulated Depreciation	(5,444)
630 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	515
Building and Improvements	848
Costs Capitalized Subsequent to Acquisition	520
Gross Amount at Which Carried As of Year End
Land	528
Buildings and Improvements	1,083
Total	1,611
Accumulated Depreciation	(468)
631 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	266
Building and Improvements	1,305
Costs Capitalized Subsequent to Acquisition	2,084
Gross Amount at Which Carried As of Year End
Land	266
Buildings and Improvements	2,669
Total	2,935
Accumulated Depreciation	(1,366)
632 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	827
Building and Improvements	7,642
Costs Capitalized Subsequent to Acquisition	6,086
Gross Amount at Which Carried As of Year End
Land	827
Buildings and Improvements	10,919
Total	11,746
Accumulated Depreciation	(5,105)
633 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,425
Building and Improvements	12,577
Costs Capitalized Subsequent to Acquisition	10,579
Gross Amount at Which Carried As of Year End
Land	5,425
Buildings and Improvements	19,633
Total	25,058
Accumulated Depreciation	(8,626)
634 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,818
Building and Improvements	15,185
Costs Capitalized Subsequent to Acquisition	13,976
Gross Amount at Which Carried As of Year End
Land	3,818
Buildings and Improvements	24,201
Total	28,019
Accumulated Depreciation	(11,544)
636 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	583
Building and Improvements	450
Costs Capitalized Subsequent to Acquisition	481
Gross Amount at Which Carried As of Year End
Land	604
Buildings and Improvements	758
Total	1,362
Accumulated Depreciation	(325)
2967 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	42,068
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	42,068
Total	42,068
Accumulated Depreciation	0
2720 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	102
Building and Improvements	10,925
Costs Capitalized Subsequent to Acquisition	531
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	11,450
Total	11,552
Accumulated Depreciation	(605)
2611 Allen TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,330
Building and Improvements	5,960
Costs Capitalized Subsequent to Acquisition	837
Gross Amount at Which Carried As of Year End
Land	1,374
Buildings and Improvements	6,754
Total	8,128
Accumulated Depreciation	(1,295)
2612 Allen TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,310
Building and Improvements	4,165
Costs Capitalized Subsequent to Acquisition	949
Gross Amount at Which Carried As of Year End
Land	1,310
Buildings and Improvements	5,093
Total	6,403
Accumulated Depreciation	(1,149)
573 Arlington TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	769
Building and Improvements	12,355
Costs Capitalized Subsequent to Acquisition	6,456
Gross Amount at Which Carried As of Year End
Land	769
Buildings and Improvements	16,597
Total	17,366
Accumulated Depreciation	(7,501)
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)	1,617
Building and Improvements	11,640
Costs Capitalized Subsequent to Acquisition	544
Gross Amount at Which Carried As of Year End
Land	1,617
Buildings and Improvements	12,185
Total	13,802
Accumulated Depreciation	(1,340)
576 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	324
Building and Improvements	4,842
Costs Capitalized Subsequent to Acquisition	4,528
Gross Amount at Which Carried As of Year End
Land	324
Buildings and Improvements	7,783
Total	8,107
Accumulated Depreciation	(3,305)
577 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	397
Building and Improvements	7,966
Costs Capitalized Subsequent to Acquisition	4,027
Gross Amount at Which Carried As of Year End
Land	397
Buildings and Improvements	10,739
Total	11,136
Accumulated Depreciation	(4,742)
578 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	388
Building and Improvements	7,975
Costs Capitalized Subsequent to Acquisition	5,114
Gross Amount at Which Carried As of Year End
Land	388
Buildings and Improvements	10,340
Total	10,728
Accumulated Depreciation	(4,367)
579 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	188
Building and Improvements	3,618
Costs Capitalized Subsequent to Acquisition	1,632
Gross Amount at Which Carried As of Year End
Land	188
Buildings and Improvements	4,558
Total	4,746
Accumulated Depreciation	(2,026)
581 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	717
Building and Improvements	8,181
Costs Capitalized Subsequent to Acquisition	7,061
Gross Amount at Which Carried As of Year End
Land	717
Buildings and Improvements	12,220
Total	12,937
Accumulated Depreciation	(6,201)
600 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	328
Building and Improvements	3,210
Costs Capitalized Subsequent to Acquisition	5,077
Gross Amount at Which Carried As of Year End
Land	328
Buildings and Improvements	6,152
Total	6,480
Accumulated Depreciation	(3,135)
601 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	313
Building and Improvements	1,771
Costs Capitalized Subsequent to Acquisition	2,407
Gross Amount at Which Carried As of Year End
Land	325
Buildings and Improvements	3,275
Total	3,600
Accumulated Depreciation	(1,650)
2839 Cypress TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	37,153
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	36,283
Total	36,294
Accumulated Depreciation	(9,299)
582 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,664
Building and Improvements	6,785
Costs Capitalized Subsequent to Acquisition	6,631
Gross Amount at Which Carried As of Year End
Land	1,747
Buildings and Improvements	10,829
Total	12,576
Accumulated Depreciation	(4,794)
886 Dallas, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,820
Building 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	5,503
Total	7,323
Accumulated Depreciation	(2,717)
1314 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	15,230
Building and Improvements	162,970
Costs Capitalized Subsequent to Acquisition	30,361
Gross Amount at Which Carried As of Year End
Land	24,093
Buildings and Improvements	183,211
Total	207,304
Accumulated Depreciation	(76,574)
1315 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,860
Gross Amount at Which Carried As of Year End
Land	26
Buildings and Improvements	2,838
Total	2,864
Accumulated Depreciation	(1,160)
1316 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	7,285
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	4,078
Total	4,078
Accumulated Depreciation	(1,749)
1317 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	8,990
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,475
Total	8,475
Accumulated Depreciation	(1,165)
1319 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	18,840
Building and Improvements	155,659
Costs Capitalized Subsequent to Acquisition	7,097
Gross Amount at Which Carried As of Year End
Land	18,840
Buildings and Improvements	162,204
Total	181,044
Accumulated Depreciation	(66,824)
2721 Dallas, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	31,707
Building and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	(2)
Gross Amount at Which Carried As of Year End
Land	31,707
Buildings and Improvements	1,998
Total	33,705
Accumulated Depreciation	(749)
3007 Denton TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,619
Initial Cost to Company
Land(1)	2,298
Building and Improvements	9,502
Costs Capitalized Subsequent to Acquisition	97
Gross Amount at Which Carried As of Year End
Land	2,338
Buildings and Improvements	9,559
Total	11,897
Accumulated Depreciation	(322)
3020 Frisco TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	27,201
Costs Capitalized Subsequent to Acquisition	27
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,228
Total	27,228
Accumulated Depreciation	(336)
3021 Frisco TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	26,181
Costs Capitalized Subsequent to Acquisition	381
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	26,562
Total	26,562
Accumulated Depreciation	(326)
583 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	898
Building and Improvements	4,866
Costs Capitalized Subsequent to Acquisition	5,035
Gross Amount at Which Carried As of Year End
Land	898
Buildings and Improvements	8,421
Total	9,319
Accumulated Depreciation	(3,443)
805 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	2,481
Costs Capitalized Subsequent to Acquisition	2,092
Gross Amount at Which Carried As of Year End
Land	45
Buildings and Improvements	3,745
Total	3,790
Accumulated Depreciation	(2,166)
806 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,070
Costs Capitalized Subsequent to Acquisition	2,261
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	7,911
Total	7,916
Accumulated Depreciation	(3,197)
2231 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	902
Building 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	(30)
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)	1,180
Building and Improvements	13,432
Costs Capitalized Subsequent to Acquisition	475
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	13,907
Total	15,087
Accumulated Depreciation	(1,383)
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)	1,961
Building and Improvements	14,155
Costs Capitalized Subsequent to Acquisition	354
Gross Amount at Which Carried As of Year End
Land	2,000
Buildings and Improvements	14,470
Total	16,470
Accumulated Depreciation	(1,538)
2982 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,720
Building and Improvements	6,225
Costs Capitalized Subsequent to Acquisition	4,836
Gross Amount at Which Carried As of Year End
Land	2,720
Buildings and Improvements	11,020
Total	13,740
Accumulated Depreciation	(1,314)
1061 Granbury TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	6,863
Costs Capitalized Subsequent to Acquisition	1,157
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,880
Total	7,880
Accumulated Depreciation	(3,123)
430 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,927
Building and Improvements	33,140
Costs Capitalized Subsequent to Acquisition	22,362
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	51,804
Total	54,004
Accumulated Depreciation	(27,628)
446 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,200
Building and Improvements	19,585
Costs Capitalized Subsequent to Acquisition	23,958
Gross Amount at Which Carried As of Year End
Land	2,945
Buildings and Improvements	32,682
Total	35,627
Accumulated Depreciation	(22,359)
589 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,676
Building and Improvements	12,602
Costs Capitalized Subsequent to Acquisition	14,043
Gross Amount at Which Carried As of Year End
Land	1,706
Buildings and Improvements	22,219
Total	23,925
Accumulated Depreciation	(7,609)
670 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	257
Building and Improvements	2,884
Costs Capitalized Subsequent to Acquisition	1,693
Gross Amount at Which Carried As of Year End
Land	318
Buildings and Improvements	2,310
Total	2,628
Accumulated Depreciation	(1,548)
702 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,414
Costs Capitalized Subsequent to Acquisition	3,966
Gross Amount at Which Carried As of Year End
Land	7
Buildings and Improvements	9,926
Total	9,933
Accumulated Depreciation	(4,487)
1044 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,838
Costs Capitalized Subsequent to Acquisition	6,279
Gross Amount at Which Carried As of Year End
Land	1,321
Buildings and Improvements	7,888
Total	9,209
Accumulated Depreciation	(2,612)
2542 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	304
Building 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	(3,546)
2543 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	116
Building and Improvements	6,555
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	116
Buildings and Improvements	6,439
Total	6,555
Accumulated Depreciation	(1,420)
2544 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	312
Building 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	(2,874)
2545 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	316
Building 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	(2,521)
2546 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	408
Building and Improvements	18,332
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	408
Buildings and Improvements	17,925
Total	18,333
Accumulated Depreciation	(4,766)
2547 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	470
Building 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	(4,379)
2548 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	313
Building and Improvements	7,036
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	313
Buildings and Improvements	6,724
Total	7,037
Accumulated Depreciation	(1,829)
2549 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	530
Building 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	(3,625)
2966 Houston, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	26,503
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	26,503
Total	26,503
Accumulated Depreciation	0
590 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	828
Building and Improvements	6,160
Costs Capitalized Subsequent to Acquisition	5,313
Gross Amount at Which Carried As of Year End
Land	828
Buildings and Improvements	9,676
Total	10,504
Accumulated Depreciation	(3,929)
700 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	8,550
Costs Capitalized Subsequent to Acquisition	4,650
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	9,705
Total	9,713
Accumulated Depreciation	(4,309)
1207 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,955
Building and Improvements	12,793
Costs Capitalized Subsequent to Acquisition	3,005
Gross Amount at Which Carried As of Year End
Land	2,063
Buildings and Improvements	14,966
Total	17,029
Accumulated Depreciation	(6,052)
2840 Kingwood TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,035
Building and Improvements	28,373
Costs Capitalized Subsequent to Acquisition	1,999
Gross Amount at Which Carried As of Year End
Land	3,422
Buildings and Improvements	29,984
Total	33,406
Accumulated Depreciation	(5,779)
591 Lewisville TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	561
Building and Improvements	8,043
Costs Capitalized Subsequent to Acquisition	2,684
Gross Amount at Which Carried As of Year End
Land	561
Buildings and Improvements	9,568
Total	10,129
Accumulated Depreciation	(4,640)
144 Longview TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	102
Building and Improvements	7,998
Costs Capitalized Subsequent to Acquisition	1,439
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	8,987
Total	9,089
Accumulated Depreciation	(5,164)
143 Lufkin TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	338
Building and Improvements	2,383
Costs Capitalized Subsequent to Acquisition	299
Gross Amount at Which Carried As of Year End
Land	338
Buildings and Improvements	2,602
Total	2,940
Accumulated Depreciation	(1,498)
568 McKinney TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	541
Building and Improvements	6,217
Costs Capitalized Subsequent to Acquisition	4,693
Gross Amount at Which Carried As of Year End
Land	541
Buildings and Improvements	9,434
Total	9,975
Accumulated Depreciation	(4,304)
569 McKinney TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	636
Costs Capitalized Subsequent to Acquisition	9,568
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,179
Total	9,179
Accumulated Depreciation	(3,914)
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(1)	812
Building and Improvements	8,883
Costs Capitalized Subsequent to Acquisition	3,961
Gross Amount at Which Carried As of Year End
Land	812
Buildings and Improvements	10,755
Total	11,567
Accumulated Depreciation	(4,549)
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)	1,385
Building and Improvements	10,213
Costs Capitalized Subsequent to Acquisition	2,357
Gross Amount at Which Carried As of Year End
Land	1,400
Buildings and Improvements	12,026
Total	13,426
Accumulated Depreciation	(4,542)
2835 Pearland TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,014
Costs Capitalized Subsequent to Acquisition	5,044
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,251
Total	7,251
Accumulated Depreciation	(2,739)
2838 Pearland TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,966
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,342
Total	19,342
Accumulated Depreciation	(4,442)
447 Plano TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,700
Building and Improvements	7,810
Costs Capitalized Subsequent to Acquisition	7,018
Gross Amount at Which Carried As of Year End
Land	1,792
Buildings and Improvements	12,357
Total	14,149
Accumulated Depreciation	(7,434)
597 Plano TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,210
Building and Improvements	9,588
Costs Capitalized Subsequent to Acquisition	7,961
Gross Amount at Which Carried As of Year End
Land	1,225
Buildings and Improvements	15,502
Total	16,727
Accumulated Depreciation	(6,699)
672 Plano TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,389
Building and Improvements	12,768
Costs Capitalized Subsequent to Acquisition	4,676
Gross Amount at Which Carried As of Year End
Land	1,389
Buildings and Improvements	14,734
Total	16,123
Accumulated Depreciation	(5,951)
1384 Plano, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,290
Building and Improvements	22,686
Costs Capitalized Subsequent to Acquisition	5,949
Gross Amount at Which Carried As of Year End
Land	6,290
Buildings and Improvements	28,445
Total	34,735
Accumulated Depreciation	(20,768)
2653 Rockwall, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	788
Building and Improvements	9,020
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	8,987
Total	9,775
Accumulated Depreciation	(1,227)
815 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	9,193
Costs Capitalized Subsequent to Acquisition	3,595
Gross Amount at Which Carried As of Year End
Land	87
Buildings and Improvements	11,367
Total	11,454
Accumulated Depreciation	(5,219)
816 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	2,233
Initial Cost to Company
Land(1)	0
Building and Improvements	8,699
Costs Capitalized Subsequent to Acquisition	5,206
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	12,489
Total	12,664
Accumulated Depreciation	(5,593)
1591 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,309
Costs Capitalized Subsequent to Acquisition	1,502
Gross Amount at Which Carried As of Year End
Land	43
Buildings and Improvements	8,360
Total	8,403
Accumulated Depreciation	(3,046)
2837 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	26,191
Costs Capitalized Subsequent to Acquisition	3,467
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	28,231
Total	28,231
Accumulated Depreciation	(10,370)
2852 Shenandoah TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	30,275
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	30,275
Total	30,275
Accumulated Depreciation	(5,381)
598 Sugarland TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,078
Building and Improvements	5,158
Costs Capitalized Subsequent to Acquisition	4,179
Gross Amount at Which Carried As of Year End
Land	1,170
Buildings and Improvements	7,073
Total	8,243
Accumulated Depreciation	(3,119)
599 Texas City TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	9,519
Costs Capitalized Subsequent to Acquisition	1,583
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,929
Total	10,929
Accumulated Depreciation	(4,382)
152 Victoria TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	125
Building and Improvements	8,977
Costs Capitalized Subsequent to Acquisition	525
Gross Amount at Which Carried As of Year End
Land	125
Buildings and Improvements	9,108
Total	9,233
Accumulated Depreciation	(5,414)
2198 Webster, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	2,220
Building and Improvements	9,602
Costs Capitalized Subsequent to Acquisition	462
Gross Amount at Which Carried As of Year End
Land	2,220
Buildings and Improvements	9,744
Total	11,964
Accumulated Depreciation	(3,112)
2550 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	115
Building 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	(1,049)
2551 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	296
Building 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	(3,212)
2552 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	374
Building 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	(3,933)
1592 Bountiful UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	999
Building and Improvements	7,426
Costs Capitalized Subsequent to Acquisition	1,724
Gross Amount at Which Carried As of Year End
Land	1,019
Buildings and Improvements	8,939
Total	9,958
Accumulated Depreciation	(3,388)
169 Bountiful UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	276
Building and Improvements	5,237
Costs Capitalized Subsequent to Acquisition	3,583
Gross Amount at Which Carried As of Year End
Land	653
Buildings and Improvements	7,496
Total	8,149
Accumulated Depreciation	(3,588)
2035 Draper UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,341
Initial Cost to Company
Land(1)	0
Building and Improvements	10,803
Costs Capitalized Subsequent to Acquisition	954
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,603
Total	11,603
Accumulated Depreciation	(2,851)
469 Kaysville UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	530
Building and Improvements	4,493
Costs Capitalized Subsequent to Acquisition	226
Gross Amount at Which Carried As of Year End
Land	530
Buildings and Improvements	4,493
Total	5,023
Accumulated Depreciation	(2,030)
456 Layton UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	371
Building and Improvements	7,073
Costs Capitalized Subsequent to Acquisition	1,717
Gross Amount at Which Carried As of Year End
Land	389
Buildings and Improvements	8,176
Total	8,565
Accumulated Depreciation	(4,882)
2042 Layton UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	10,975
Costs Capitalized Subsequent to Acquisition	1,262
Gross Amount at Which Carried As of Year End
Land	44
Buildings and Improvements	11,960
Total	12,004
Accumulated Depreciation	(2,747)
2864 Ogden UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,271
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,271
Total	19,271
Accumulated Depreciation	(1,125)
357 Orem UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	337
Building and Improvements	8,744
Costs Capitalized Subsequent to Acquisition	3,718
Gross Amount at Which Carried As of Year End
Land	306
Buildings and Improvements	9,307
Total	9,613
Accumulated Depreciation	(5,500)
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(1)	190
Building and Improvements	779
Costs Capitalized Subsequent to Acquisition	278
Gross Amount at Which Carried As of Year End
Land	273
Buildings and Improvements	914
Total	1,187
Accumulated Depreciation	(626)
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(1)	220
Building and Improvements	10,732
Costs Capitalized Subsequent to Acquisition	3,938
Gross Amount at Which Carried As of Year End
Land	220
Buildings and Improvements	13,068
Total	13,288
Accumulated Depreciation	(7,861)
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(1)	180
Building and Improvements	14,792
Costs Capitalized Subsequent to Acquisition	4,884
Gross Amount at Which Carried As of Year End
Land	180
Buildings and Improvements	18,080
Total	18,260
Accumulated Depreciation	(10,648)
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(1)	3,000
Building and Improvements	7,541
Costs Capitalized Subsequent to Acquisition	3,229
Gross Amount at Which Carried As of Year End
Land	3,145
Buildings and Improvements	9,868
Total	13,013
Accumulated Depreciation	(5,199)
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(1)	509
Building and Improvements	4,044
Costs Capitalized Subsequent to Acquisition	4,712
Gross Amount at Which Carried As of Year End
Land	509
Buildings and Improvements	7,478
Total	7,987
Accumulated Depreciation	(3,277)
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(1)	0
Building and Improvements	12,326
Costs Capitalized Subsequent to Acquisition	1,197
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,189
Total	13,189
Accumulated Depreciation	(2,984)
2033 Sandy UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	867
Building and Improvements	3,513
Costs Capitalized Subsequent to Acquisition	2,338
Gross Amount at Which Carried As of Year End
Land	1,356
Buildings and Improvements	5,215
Total	6,571
Accumulated Depreciation	(2,448)
482 Stansbury UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	450
Building and Improvements	3,201
Costs Capitalized Subsequent to Acquisition	1,248
Gross Amount at Which Carried As of Year End
Land	529
Buildings and Improvements	3,948
Total	4,477
Accumulated Depreciation	(1,861)
351 Washington Terrace UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,573
Costs Capitalized Subsequent to Acquisition	3,346
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	6,013
Total	6,030
Accumulated Depreciation	(3,616)
352 Washington Terrace UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	2,692
Costs Capitalized Subsequent to Acquisition	1,805
Gross Amount at Which Carried As of Year End
Land	15
Buildings and Improvements	3,716
Total	3,731
Accumulated Depreciation	(2,381)
2034 West Jordan UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	12,021
Costs Capitalized Subsequent to Acquisition	323
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	12,037
Total	12,037
Accumulated Depreciation	(2,668)
2036 West Jordan UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	1,383
Costs Capitalized Subsequent to Acquisition	1,660
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,844
Total	2,844
Accumulated Depreciation	(1,377)
1208 Fairfax VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,396
Building and Improvements	16,710
Costs Capitalized Subsequent to Acquisition	14,636
Gross Amount at Which Carried As of Year End
Land	8,845
Buildings and Improvements	28,157
Total	37,002
Accumulated Depreciation	(13,630)
2230 Fredericksburg VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,101
Building 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	(1,816)
3001 Leesburg VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	10,153
Initial Cost to Company
Land(1)	3,549
Building and Improvements	24,059
Costs Capitalized Subsequent to Acquisition	1,375
Gross Amount at Which Carried As of Year End
Land	3,549
Buildings and Improvements	25,435
Total	28,984
Accumulated Depreciation	(918)
3015 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,601
Initial Cost to Company
Land(1)	0
Building and Improvements	21,442
Costs Capitalized Subsequent to Acquisition	78
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	21,289
Total	21,297
Accumulated Depreciation	(405)
3016 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	11,912
Initial Cost to Company
Land(1)	0
Building and Improvements	20,610
Costs Capitalized Subsequent to Acquisition	80
Gross Amount at Which Carried As of Year End
Land	12
Buildings and Improvements	20,576
Total	20,588
Accumulated Depreciation	(565)
3017 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	13,782
Initial Cost to Company
Land(1)	0
Building and Improvements	22,531
Costs Capitalized Subsequent to Acquisition	15
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,546
Total	22,546
Accumulated Depreciation	(707)
572 Reston VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	11,902
Costs Capitalized Subsequent to Acquisition	1,295
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,701
Total	11,701
Accumulated Depreciation	(5,561)
448 Renton WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	18,724
Costs Capitalized Subsequent to Acquisition	5,059
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,575
Total	21,575
Accumulated Depreciation	(13,620)
781 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	52,703
Costs Capitalized Subsequent to Acquisition	21,825
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	67,991
Total	67,991
Accumulated Depreciation	(32,518)
782 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	24,382
Costs Capitalized Subsequent to Acquisition	18,802
Gross Amount at Which Carried As of Year End
Land	126
Buildings and Improvements	37,833
Total	37,959
Accumulated Depreciation	(18,524)
783 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	5,625
Costs Capitalized Subsequent to Acquisition	2,300
Gross Amount at Which Carried As of Year End
Land	211
Buildings and Improvements	7,027
Total	7,238
Accumulated Depreciation	(6,345)
785 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	7,293
Costs Capitalized Subsequent to Acquisition	6,153
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,351
Total	11,351
Accumulated Depreciation	(7,543)
1385 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	45,027
Costs Capitalized Subsequent to Acquisition	19,328
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	62,978
Total	62,978
Accumulated Depreciation	(23,072)
3022 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	35,612
Building and Improvements	4,176
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	35,612
Buildings and Improvements	4,176
Total	39,788
Accumulated Depreciation	(211)
2038 Evanston WY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	0
Building and Improvements	4,601
Costs Capitalized Subsequent to Acquisition	1,170
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,695
Total	5,695
Accumulated Depreciation	(1,477)
3089 Birmingham AL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	6,218
Building and Improvements	32,146
Costs Capitalized Subsequent to Acquisition	2,219
Gross Amount at Which Carried As of Year End
Land	6,457
Buildings and Improvements	34,126
Total	40,583
Accumulated Depreciation	(3,479)
3090 Bradenton FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,496
Building and Improvements	95,671
Costs Capitalized Subsequent to Acquisition	10,091
Gross Amount at Which Carried As of Year End
Land	5,947
Buildings and Improvements	105,310
Total	111,257
Accumulated Depreciation	(9,851)
2997 Clearwater FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	70,303
Initial Cost to Company
Land(1)	6,680
Building and Improvements	132,521
Costs Capitalized Subsequent to Acquisition	7,436
Gross Amount at Which Carried As of Year End
Land	6,768
Buildings and Improvements	139,869
Total	146,637
Accumulated Depreciation	(9,873)
3086 Jacksonville FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	19,660
Building and Improvements	167,860
Costs Capitalized Subsequent to Acquisition	9,981
Gross Amount at Which Carried As of Year End
Land	20,207
Buildings and Improvements	177,296
Total	197,503
Accumulated Depreciation	(13,894)
2996 Leesburg FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	8,941
Building and Improvements	65,698
Costs Capitalized Subsequent to Acquisition	10,229
Gross Amount at Which Carried As of Year End
Land	9,703
Buildings and Improvements	75,164
Total	84,867
Accumulated Depreciation	(6,748)
2995 Port Charlotte FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	5,344
Building and Improvements	159,612
Costs Capitalized Subsequent to Acquisition	6,753
Gross Amount at Which Carried As of Year End
Land	5,568
Buildings and Improvements	166,141
Total	171,709
Accumulated Depreciation	(11,230)
2998 Seminole FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	45,883
Initial Cost to Company
Land(1)	14,080
Building and Improvements	77,485
Costs Capitalized Subsequent to Acquisition	5,640
Gross Amount at Which Carried As of Year End
Land	14,925
Buildings and Improvements	82,280
Total	97,205
Accumulated Depreciation	(5,086)
3085 Seminole FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	13,915
Building and Improvements	125,796
Costs Capitalized Subsequent to Acquisition	8,174
Gross Amount at Which Carried As of Year End
Land	14,550
Buildings and Improvements	133,336
Total	147,886
Accumulated Depreciation	(10,852)
3092 Sun City Center FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	89,313
Initial Cost to Company
Land(1)	25,254
Building and Improvements	175,535
Costs Capitalized Subsequent to Acquisition	8,377
Gross Amount at Which Carried As of Year End
Land	25,650
Buildings and Improvements	183,516
Total	209,166
Accumulated Depreciation	(16,969)
3087 The Villages FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	7,091
Building and Improvements	120,493
Costs Capitalized Subsequent to Acquisition	9,796
Gross Amount at Which Carried As of Year End
Land	7,308
Buildings and Improvements	130,073
Total	137,381
Accumulated Depreciation	(9,955)
3084 Holland MI | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	1,572
Building and Improvements	88,960
Costs Capitalized Subsequent to Acquisition	4,798
Gross Amount at Which Carried As of Year End
Land	1,681
Buildings and Improvements	93,649
Total	95,330
Accumulated Depreciation	(7,123)
2991 Coatesville PA | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	16,443
Building and Improvements	126,243
Costs Capitalized Subsequent to Acquisition	8,094
Gross Amount at Which Carried As of Year End
Land	16,697
Buildings and Improvements	134,083
Total	150,780
Accumulated Depreciation	(9,499)
3080 Haverford PA | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	16,461
Building and Improvements	108,816
Costs Capitalized Subsequent to Acquisition	26,139
Gross Amount at Which Carried As of Year End
Land	16,461
Buildings and Improvements	124,266
Total	140,727
Accumulated Depreciation	(46,833)
3088 Spring TX | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	3,210
Building and Improvements	30,085
Costs Capitalized Subsequent to Acquisition	2,103
Gross Amount at Which Carried As of Year End
Land	3,345
Buildings and Improvements	32,054
Total	35,399
Accumulated Depreciation	(2,553)
3081 Ft Belvoir VA | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land(1)	11,594
Building and Improvements	99,528
Costs Capitalized Subsequent to Acquisition	22,230
Gross Amount at Which Carried As of Year End
Land	11,594
Buildings and Improvements	115,058
Total	126,652
Accumulated Depreciation	$ (44,643)

Schedule III_ Real Estate and_3

Schedule III: Real Estate and Accumulated Depreciation - Amount that Tax Basis of Net Real Estate Assets Less Than the Reported Amounts (Details) $ in Billions	12 Months Ended
	Dec. 31, 2021USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Amount that the tax basis of the Company's net real estate is less than the reported amounts	$ 1
Life on Which Depreciation in Latest Income Statement is Computed	50 years

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Continuing Operations
Real estate:
Balances at beginning of year	$ 13,528,893	$ 10,372,584	$ 9,707,488
Acquisition of real estate and development and improvements	2,157,539	3,460,556	1,621,739
Sales and/or transfers to assets held for sale	(72,819)	(203,687)	(852,480)
Impairments	(21,294)	(23,991)	(19,067)
Other	(85,661)	(76,569)	(85,096)
Balances at end of year	15,506,658	13,528,893	10,372,584
Accumulated depreciation:
Balances at beginning of year	2,409,135	2,141,960	2,054,888
Depreciation expense	548,063	438,735	365,319
Sales and/or transfers to assets held for sale	(32,692)	(93,220)	(190,877)
Other	(85,277)	(78,340)	(87,370)
Balances at end of year	2,839,229	2,409,135	2,141,960
Discontinued Operations
Real estate:
Balances at beginning of year	2,930,566	4,133,349	3,440,706
Acquisition of real estate and development and improvements	8,238	119,333	812,827
Sales and/or transfers to assets held for sale	(2,929,713)	(1,114,792)	(245,291)
Impairments	(5,315)	(198,048)	(200,546)
Other	(3,776)	(9,276)	325,653
Balances at end of year	0	2,930,566	4,133,349
Accumulated depreciation:
Balances at beginning of year	615,708	861,557	817,931
Depreciation expense	0	91,726	122,792
Sales and/or transfers to assets held for sale	(615,708)	(333,654)	(68,391)
Other	0	(3,921)	(10,775)
Balances at end of year	$ 0	$ 615,708	$ 861,557

Schedule IV_ Mortgage Loans o_2

Schedule IV: Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Monthly Debt Service	1,391
Face Amount of Mortgages	396,281
Carrying Amount of Mortgages	390,291	$ 157,572	$ 161,964	$ 42,037
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Texas, Florida, and California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of properties with first mortgages | property	1
Mortgage loan on real estate, Texas due 2021 | Other Non-reportable | Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	7.50%
Prior Liens	$ 0
Monthly Debt Service	14
Face Amount of Mortgages	2,250
Carrying Amount of Mortgages	2,191
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, California due 2026 | Other Non-reportable | California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.25%
Prior Liens	$ 0
Monthly Debt Service	97
Face Amount of Mortgages	18,420
Carrying Amount of Mortgages	18,604
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, California due 2026 | LIBOR | Other Non-reportable | California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	2.00%
Mortgage loan on real estate, Florida due 2022 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.00%
Prior Liens	$ 0
Monthly Debt Service	25
Face Amount of Mortgages	7,798
Carrying Amount of Mortgages	7,246
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2022 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.00%
Prior Liens	$ 0
Monthly Debt Service	13
Face Amount of Mortgages	3,912
Carrying Amount of Mortgages	3,582
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2022 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.00%
Prior Liens	$ 0
Monthly Debt Service	45
Face Amount of Mortgages	14,208
Carrying Amount of Mortgages	14,180
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, California due 2022 | Other Non-reportable | California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.00%
Prior Liens	$ 0
Monthly Debt Service	113
Face Amount of Mortgages	35,100
Carrying Amount of Mortgages	34,994
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of properties with first mortgages | property	18
Mortgage loan on real estate, multiple due 2024 | Other Non-reportable
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	3.50%
Mortgage loan on real estate, multiple due 2024 | Other Non-reportable | Texas, Florida, and California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Monthly Debt Service	569
Face Amount of Mortgages	165,093
Carrying Amount of Mortgages	161,618
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2024 | LIBOR | Other Non-reportable
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	0.50%
Mortgage loan on real estate, multiple due 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of properties with first mortgages | property	16
Mortgage loan on real estate, multiple due 2023 | Other Non-reportable | Texas, Florida, and California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.00%
Prior Liens	$ 0
Monthly Debt Service	515
Face Amount of Mortgages	149,500
Carrying Amount of Mortgages	147,876
Principal Amount Subject to Delinquent Principal or Interest	$ 0

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, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 157,572	$ 161,964	$ 42,037
New mortgage loans	310,338	98,469	59,552
Draws on existing mortgage loans	9,370	19,182	60,375
Total additions	319,708	117,651	119,927
Principal repayments	(84,486)	(113,200)	0
Reserve for loan losses	(2,503)	(8,843)	0
Total deductions	(86,989)	(122,043)	0
Balance at end of year	$ 390,291	$ 157,572	$ 161,964

Uncategorized Items - peak-2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]