Healthpeak Properties (DOC) 10-K 8 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 06, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
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	4600 South Syracuse Street
Entity Address, Address Line Two	Suite 500
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			$ 10.2
Entity Common Stock, Shares Outstanding		546,782,509
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive Proxy Statement for the registrant’s 2023 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2022, have been incorporated by reference into Part III of this Report.
Entity Central Index Key	0000765880
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
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, 2022	Dec. 31, 2021
Real estate:
Buildings and improvements	$ 12,784,078	$ 12,025,271
Development costs and construction in progress	760,355	877,423
Land	2,667,188	2,603,964
Accumulated depreciation and amortization	(3,188,138)	(2,839,229)
Net real estate	13,023,483	12,667,429
Net investment in direct financing leases	0	44,706
Loans receivable, net of reserves of $8,280 and $1,813	374,832	415,811
Investments in and advances to unconsolidated joint ventures	706,677	403,634
Accounts receivable, net of allowance of $2,399 and $1,870	53,436	48,691
Cash and cash equivalents	72,032	158,287
Restricted cash	54,802	53,454
Intangible assets, net	418,061	519,760
Assets held for sale and discontinued operations, net	49,866	37,190
Right-of-use asset, net	237,318	233,942
Other assets, net	780,722	674,615
Total assets	15,771,229	15,257,519
LIABILITIES AND EQUITY
Bank line of credit and commercial paper	995,606	1,165,975
Term loans	495,957	0
Senior unsecured notes	4,659,451	4,651,933
Mortgage debt	346,599	352,081
Intangible liabilities, net	156,193	177,232
Liabilities related to assets held for sale and discontinued operations, net	4,070	15,056
Lease liability	208,515	204,547
Accounts payable, accrued liabilities, and other liabilities	772,485	755,384
Deferred revenue	844,076	789,207
Total liabilities	8,482,952	8,111,415
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests	105,679	87,344
Common stock, $1.00 par value: 750,000,000 shares authorized; 546,641,973 and 539,096,879 shares issued and outstanding	546,642	539,097
Additional paid-in capital	10,349,614	10,100,294
Cumulative dividends in excess of earnings	(4,269,689)	(4,120,774)
Accumulated other comprehensive income (loss)	28,134	(3,147)
Total stockholders’ equity	6,654,701	6,515,470
Joint venture partners	327,721	342,234
Non-managing member unitholders	200,176	201,056
Total noncontrolling interests	527,897	543,290
Total equity	7,182,598	7,058,760
Total liabilities and equity	$ 15,771,229	$ 15,257,519

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Reserve for loans receivable	$ 8,280	$ 1,813
Accounts receivable, allowance for credit loss	$ 2,399	$ 1,870
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)	546,641,973	539,096,879
Common stock, shares outstanding (in shares)	546,641,973	539,096,879

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Rental and related revenues	$ 1,541,775	$ 1,378,384	$ 1,182,108
Resident fees and services	494,935	471,325	436,494
Income from direct financing leases	1,168	8,702	9,720
Interest income	23,300	37,773	16,553
Total revenues	2,061,178	1,896,184	1,644,875
Costs and expenses:
Interest expense	172,944	157,980	218,336
Depreciation and amortization	710,569	684,286	553,949
Operating	862,991	773,279	782,541
General and administrative	131,033	98,303	93,237
Transaction costs	4,853	1,841	18,342
Impairments and loan loss reserves (recoveries), net	7,004	23,160	42,909
Total costs and expenses	1,889,394	1,738,849	1,709,314
Other income (expense):
Gain (loss) on sales of real estate, net	9,078	190,590	90,350
Gain (loss) on debt extinguishments	0	(225,824)	(42,912)
Other income (expense), net	326,268	6,266	234,684
Total other income (expense), net	335,346	(28,968)	282,122
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	507,130	128,367	217,683
Income tax benefit (expense)	4,425	3,261	9,423
Equity income (loss) from unconsolidated joint ventures	1,985	6,100	(66,599)
Income (loss) from continuing operations	513,540	137,728	160,507
Income (loss) from discontinued operations	2,884	388,202	267,746
Net income (loss)	516,424	525,930	428,253
Noncontrolling interests’ share in continuing operations	(15,975)	(17,851)	(14,394)
Noncontrolling interests’ share in discontinued operations	0	(2,539)	(296)
Net income (loss) applicable to Healthpeak Properties, Inc.	500,449	505,540	413,563
Participating securities’ share in earnings	(2,657)	(3,269)	(2,416)
Net income (loss) applicable to common shares	$ 497,792	$ 502,271	$ 411,147
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.92	$ 0.22	$ 0.27
Discontinued operations (in dollars per share)	0	0.71	0.50
Net income (loss) applicable to common shares (in dollars per share)	0.92	0.93	0.77
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.92	0.22	0.27
Discontinued operations (in dollars per share)	0	0.71	0.50
Net income (loss) applicable to common shares (in dollars per share)	$ 0.92	$ 0.93	$ 0.77
Weighted average shares outstanding:
Basic (in shares)	538,809	538,930	530,555
Diluted (in shares)	539,147	539,241	531,056

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 516,424	$ 525,930	$ 428,253
Other comprehensive income (loss):
Net unrealized gains (losses) on derivatives	30,145	332	(583)
Change in Supplemental Executive Retirement Plan obligation and other	1,136	457	(258)
Reclassification adjustment realized in net income (loss)	0	(251)	13
Total other comprehensive income (loss)	31,281	538	(828)
Total comprehensive income (loss)	547,705	526,468	427,425
Total comprehensive income (loss) attributable to Healthpeak Properties, Inc.	531,730	506,078	412,735
Continuing Operations
Total comprehensive (income) loss attributable to noncontrolling interests	(15,975)	(17,851)	(14,394)
Discontinued Operations
Total comprehensive (income) loss attributable to noncontrolling interests	$ 0	$ (2,539)	$ (296)

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)	Total Noncontrolling Interests	Cumulative Effect, Period of Adoption, Adjustment	[1]	Cumulative Effect, Period of Adoption, Adjustment Total Stockholders’ Equity	[1]	Cumulative Effect, Period of Adoption, Adjustment Cumulative Dividends In Excess Of Earnings	[1]	Cumulative Effect, Period of Adoption, Adjusted Balance	Cumulative Effect, Period of Adoption, Adjusted Balance Total Stockholders’ Equity	Cumulative Effect, Period of Adoption, Adjusted Balance Common Stock	Cumulative Effect, Period of Adoption, Adjusted Balance Additional Paid-In Capital	Cumulative Effect, Period of Adoption, Adjusted Balance Cumulative Dividends In Excess Of Earnings	Cumulative Effect, Period of Adoption, Adjusted Balance Accumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjusted Balance Total Noncontrolling Interests
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)		$ (1,524)		$ (1,524)		$ 6,657,335	$ 6,074,919	$ 505,222	$ 9,175,277	$ (3,602,723)	$ (2,857)	$ 582,416
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
Beginning balance at Dec. 31, 2019	11,106
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
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
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
Increase (Decrease) in Stockholders' Equity
Net income (loss)	516,325	500,449			500,449		$ 15,876
Other comprehensive income (loss)	31,281	31,281				31,281
Issuance of common stock, net (in shares)			9,936
Issuance of common stock, net	309,417	309,417	$ 9,936	299,481
Conversion of DownREIT units to common stock (in shares)			27				7,000
Conversion of DownREIT units to common stock	0	880	$ 27	853			$ (880)
Repurchase of common stock (in shares)			(2,418)
Repurchase of common stock	(67,838)	(67,838)	$ (2,418)	(65,420)
Amortization of stock-based compensation	31,412	31,412		31,412
Common dividends	(649,364)	(649,364)			(649,364)
Distributions to noncontrolling interests	(30,389)						(30,389)
Adjustments to redemption value of redeemable noncontrolling interests	(17,006)	(17,006)		(17,006)
Balance (in shares) at Dec. 31, 2022			546,642
Balance at Dec. 31, 2022	7,182,598	$ 6,654,701	$ 546,642	$ 10,349,614	$ (4,269,689)	$ 28,134	$ 527,897
Increase (Decrease) in Redeemable Noncontrolling Interests
Net income (loss)	99
Distributions to noncontrolling interests	(160)
Contributions from noncontrolling interests	1,390
Adjustments to redemption value of redeemable noncontrolling interests	17,006
Ending balance at Dec. 31, 2022	$ 105,679
[1]On January 1, 2020, the Company adopted a series of Accounting Standards Updates (“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, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common dividends, per share (in dollars per share)	$ 1.20	$ 1.20	$ 1.48

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 516,424	$ 525,930	$ 428,253
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	710,569	684,286	697,143
Stock-based compensation amortization expense	26,456	18,202	17,368
Amortization of deferred financing costs	10,881	9,216	10,157
Straight-line rents	(49,183)	(31,188)	(24,532)
Amortization of nonrefundable entrance fees and above/below market lease intangibles	(102,747)	(94,362)	(81,914)
Equity loss (income) from unconsolidated joint ventures	(2,049)	(11,235)	67,787
Distributions of earnings from unconsolidated joint ventures	943	4,976	12,294
Loss (gain) on sale of real estate under direct financing leases	(22,693)	0	(41,670)
Deferred income tax expense (benefit)	(6,001)	(5,792)	(14,573)
Impairments and loan loss reserves (recoveries), net	7,004	55,896	244,253
Loss (gain) on debt extinguishments	0	225,824	42,912
Loss (gain) on sales of real estate, net	(10,422)	(605,311)	(550,494)
Loss (gain) upon change of control, net	(311,438)	(1,042)	(159,973)
Casualty-related loss (recoveries), net	7,168	1,632	469
Other non-cash items	6,489	(8,178)	2,175
Changes in:
Decrease (increase) in accounts receivable and other assets, net	(17,433)	18,626	15,281
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue	136,293	7,768	93,495
Net cash provided by (used in) operating activities	900,261	795,248	758,431
Cash flows from investing activities:
Acquisitions of real estate	(178,133)	(1,483,026)	(1,170,651)
Development, redevelopment, and other major improvements of real estate	(861,636)	(610,555)	(791,566)
Leasing costs, tenant improvements, and recurring capital expenditures	(108,510)	(111,480)	(94,121)
Proceeds from sales of real estate, net	47,885	2,399,120	1,304,375
Proceeds from the South San Francisco JVs transaction, net	125,985	0	0
Acquisition of CCRC Portfolio	0	0	(394,177)
Contributions to unconsolidated joint ventures	(21,143)	(25,260)	(39,118)
Distributions in excess of earnings from unconsolidated joint ventures	12,518	37,640	18,555
Proceeds from insurance recovery	1,450	0	1,802
Proceeds from sales/principal repayments on loans receivable and direct financing leases	115,988	342,420	202,763
Investments in loans receivable and other	(10,747)	(17,827)	(45,562)
Net cash provided by (used in) investing activities	(876,343)	531,032	(1,007,700)
Cash flows from financing activities:
Borrowings under bank line of credit and commercial paper	15,882,153	16,821,450	4,742,600
Repayments under bank line of credit and commercial paper	(16,052,522)	(15,785,065)	(4,706,010)
Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt	500,000	1,088,537	594,750
Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt	(5,048)	(2,425,936)	(568,343)
Payments for debt extinguishment and deferred financing costs	(4,171)	(236,942)	(47,210)
Issuance of common stock and exercise of options, net of offering costs	308,100	5,036	1,068,877
Repurchase of common stock	(67,838)	(12,841)	(10,529)
Dividends paid on common stock	(648,047)	(650,082)	(787,072)
Distributions to and purchase of noncontrolling interests	(30,549)	(93,314)	(40,613)
Contributions from and issuance of noncontrolling interests	1,390	640	0
Net cash provided by (used in) financing activities	(116,532)	(1,288,517)	246,450
Effect of foreign exchanges on cash, cash equivalents and restricted cash	0	0	(153)
Net increase (decrease) in cash, cash equivalents and restricted cash	(92,614)	37,763	(2,972)
Cash, cash equivalents and restricted cash, beginning of year	219,448	181,685	184,657
Cash, cash equivalents and restricted cash, end of year	$ 126,834	$ 219,448	$ 181,685

Business

Business	12 Months Ended
	Dec. 31, 2022
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, owns, leases, 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 in Denver, Colorado, and it has additional offices in California, Tennessee, and Massachusetts. UPREIT Reorganization On February 7, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with New Healthpeak, Inc., a Maryland corporation (“New Healthpeak”) and its wholly owned subsidiary, and Healthpeak Merger Sub, Inc., a Maryland corporation (“Merger Sub”) that is a wholly owned subsidiary of New Healthpeak. The purpose of the transactions contemplated by the Merger Agreement is for the Company to implement a corporate reorganization into a new holding company structure commonly referred to as an Umbrella Partnership Real Estate Investment Trust, or UPREIT (the “Reorganization”). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of New Healthpeak (the “Merger”). The Merger is expected to be effective as of February 10, 2023 (the “Effective Time”). As part of the Merger, the Company’s name will change to Healthpeak Properties Interim, Inc., and, effective immediately after the Effective Time, New Healthpeak’s name will be changed to Healthpeak Properties, Inc. The Merger is expected to be conducted in accordance with Section 3-106.2 of the Maryland General Corporation Law. Accordingly, the Merger will not require the approval of the Company’s stockholders, and the Merger will not give rise to statutory dissenters’ rights. In connection with the Reorganization and immediately following the Merger, the Company will convert from a Maryland corporation to a Maryland limited liability company named Healthpeak OP, LLC (“Healthpeak OP”). Following the Merger, the business, management and board of directors of New Healthpeak will be identical to the business, management and board of directors of the company immediately before the Merger, except that the business of the company is expected to be conducted exclusively through Healthpeak OP. The consolidated assets and liabilities of New Healthpeak immediately following the Merger will be identical to the consolidated assets and liabilities of the Company immediately prior to the Merger. New Healthpeak will not hold any assets directly other than its ownership interest in Healthpeak OP and certain de minimis assets that may be held for certain administrative functions. None of the properties owned by the Company or its subsidiaries or any interests therein will be transferred as part of the Reorganization. All material indebtedness of the Company immediately prior to the Merger will remain the indebtedness of Healthpeak OP after the Merger.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
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. 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 recognizes rental revenue from its life science and medical office properties in accordance with Accounting Standards Codification (“ASC”) 842, Leases (“ASC 842”). 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. Rental and related revenues from other variable payments are recognized when the associated contingencies are removed. In accordance with ASC 842, the Company accounts for lease and nonlease components as a single lease component for the purpose of revenue recognition and disclosure. 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 The Company recognizes resident fee and service revenue from its Senior Housing Operating Property (“SHOP”) portfolios and CCRC properties in accordance with ASC 606, Revenue from Contracts with Customers . 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. Income from Direct Financing Leases The Company utilizes the direct finance method of accounting to record direct financing lease (“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. During the first quarter of 2022, the Company sold its remaining hospital under a DFL. 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. When collectibility of the future payments is reasonably assured, the Company utilizes the interest method on a loan-by-loan basis to recognize interest income on its loans, which includes the amortization of discounts and premiums as well as loan fees paid and received. 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, 2022, 2021, and 2020, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenue during the pandemic caused by the coronavirus disease (“Covid”). Grant income is recognized to the extent that qualifying expenses and lost revenues exceed grants received and the Company will comply with all conditions attached to the grant. As of December 31, 2022, 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, 2022 2021 2020 Government grant income recorded in other income (expense), net $ 6,765 $ 1,412 $ 16,198 Government grant income recorded in equity income (loss) from unconsolidated joint ventures 878 1,749 1,279 Government grant income recorded in income (loss) from discontinued operations 217 3,669 15,436 Total government grants received $ 7,860 $ 6,830 $ 32,913 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. At inception of a finance receivable, the Company recognizes an allowance for credit losses expected to be incurred over the life of the instrument. The model utilized by the Company to determine such losses emphasizes historical experience and future market expectations to determine a loss to be recognized at inception. However, the model is applied on an individual basis and relies 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. Lessee Accounting For leases greater than 12 months for 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 the Consolidated Balance Sheets 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. For leases with a noncancellable lease term of 12 months or less for which the Company is the lessee, the Company recognizes expenses on a straight-line basis and does not recognize such leases on the Consolidated Balance Sheets. 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 (primarily lease revenue rates, expense rates, and growth rates). 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. 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 SHOP portfolios and 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. Investments in Unconsolidated Joint Ventures Investments in entities the Company does not consolidate, but over which the Company has the ability to exercise significant influence over operating and financial policies, are reported under the equity method of accounting. Under the equity method of accounting, the Company’s share of the investee’s earnings or losses is included in equity income (loss) from unconsolidated joint ventures within the Company’s Consolidated Statements of Operations. The initial carrying value of investments in unconsolidated joint ventures is based on the amount paid to purchase the joint venture interest, the fair value of assets contributed to the joint venture, or the fair value of the assets prior to the sale of interests in the joint venture. To the extent that the Company’s cost basis is different from the basis reflected at the joint venture level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of equity in earnings of the joint venture. If an equity method investment shows indicators of impairment, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in fair value below carrying value of an investment in an unconsolidated joint venture is other-than-temporary, an impairment is recorded. The Company recognizes gains on the sale of interests in joint ventures to the extent the economic substance of the transaction is a sale. The Company’s fair values of its equity method investments are determined based on discounted cash flow models that include all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums or discounts. Capitalization rates, discount rates, and credit spreads utilized in these valuation models are based on assumptions that the Company believes to be within a reasonable range of current market rates for the respective investments. Share-Based Compensation Compensation expense for share-based awards granted to employees with graded vesting schedules is generally recognized on a straight-line basis over the vesting period. Forfeitures of share-based awards are recognized as they occur. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash on hand and short-term investments with original maturities of three months or less when purchased. Restricted cash primarily consists of amounts held by mortgage lenders to provide for: (i) real estate tax expenditures, (ii) tenant improvements, and (iii) capital expenditures, as well as security deposits and net proceeds from property sales that were executed as tax-deferred dispositions. The Company maintains its cash and cash equivalents at financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As the account balances at each institution periodically exceed the FDIC insurance coverage, there is a concentration of credit risk related to amounts in excess of such coverage. Derivatives and Hedging During its normal course of business, the Company uses certain types of

Master Transactions and Coopera

Master Transactions and Cooperation Agreement with Brookdale	12 Months Ended
	Dec. 31, 2022
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).

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Real Estate	Real Estate 2022 Real Estate Investment Acquisitions 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. Webster MOB Portfolio In March 2022, the Company acquired a portfolio of two medical office buildings (“MOBs”) in Houston, Texas for $43 million. Northwest Medical Plaza In May 2022, the Company acquired one MOB in Bentonville, Arkansas for $26 million. Concord Avenue Land Parcels In December 2022, the Company closed a life science acquisition in Cambridge, Massachusetts for $18 million. Land Parcel Acquisition Subsequent to Year-End In January 2023, the Company closed a life science acquisition in Cambridge, Massachusetts for $9 million. 2021 Real Estate Investment Acquisitions In 2021, the Company closed the following life science acquisitions: (i) eight acquisitions in Cambridge, Massachusetts for $498 million, (ii) one acquisition in San Diego, California for $20 million, and (iii) 12 acres of land for $128 million in South San Francisco, California. Also during 2021, the Company closed the following MOB acquisitions: (i) one MOB in Nashville, Tennessee for $13 million, (ii) one MOB in Denver, Colorado for $38 million, (iii) a portfolio of 14 MOBs for $371 million (the “MOB Portfolio”), (iv) one MOB in Fort Lauderdale, Florida for $16 million, (v) one MOB in Wichita, Kansas for $50 million, (vi) three MOBs in Morristown, New Jersey for $155 million, (vii) two MOBs in Dallas, Texas for $60 million, (viii) one MOB in Seattle, Washington for $43 million, (ix) one MOB in New Orleans, Louisiana for $34 million, and (x) one MOB in Cambridge, Massachusetts for $55 million. In conjunction with the acquisition of the MOB Portfolio, the Company originated $142 million of secured mortgage debt. Development Activities 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 2022 2021 2020 Life science $ 658,542 $ 472,301 $ 573,999 Medical office 237,761 230,227 173,672 CCRC 65,691 57,192 41,224 $ 961,994 $ 759,720 $ 788,895

Dispositions of Real Estate and

Dispositions of Real Estate and Discontinued Operations	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Dispositions of Real Estate and Discontinued Operations	Dispositions of Real Estate and Discontinued Operations 2022 Dispositions of Real Estate In January 2022, the Company sold one life science facility in Salt Lake City, Utah for $14 million, resulting in a gain on sale of $4 million. During the three months ended June 30, 2022, the Company sold three MOBs and one MOB land parcel for $27 million, resulting in total gain on sales of $10 million. In July 2022, the Company sold two MOBs for $9 million, resulting in total gain on sales of $1 million. Dispositions Subsequent to Year-End In January 2023, the Company sold two life science facilities in Durham, North Carolina, which were classified as held for sale as of December 31, 2022, for $113 million. 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. As of December 31, 2022, the commitment to finance additional debt for capital expenditures was $40 million, of which $0.4 million had been funded (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. 2020 Dispositions of Real Estate Aegis NNN Portfolio In December 2020, the Company sold 10 senior housing triple-net assets 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 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. 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). 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 held for sale or as discontinued operations at December 31, 2022 and 2021, 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, 2022 2021 ASSETS Accounts receivable, net of allowance of $0 and $4,138 $ — $ 2,446 Cash and cash equivalents — 7,707 Right-of-use asset, net — 26 Other assets, net — 3,237 Total assets of discontinued operations, net — 13,416 Assets held for sale, net (1) 49,866 23,774 Assets held for sale and discontinued operations, net $ 49,866 $ 37,190 LIABILITIES Lease liability $ — $ 26 Accounts payable, accrued liabilities, and other liabilities — 14,843 Deferred revenue — 92 Total liabilities of discontinued operations, net — 14,961 Liabilities related to assets held for sale, net (1) 4,070 95 Liabilities related to assets held for sale and discontinued operations, net $ 4,070 $ 15,056 _______________________________________ (1) As of December 31, 2022, included two life science assets primarily comprised of net real estate assets of $44 million. As of December 31, 2021, included four MOBs and one life science facility primarily comprised of net real estate assets of $23 million. The results of discontinued operations through December 31, 2022, or through the disposal date of each asset or portfolio of assets held within discontinued operations if sold during such periods, as applicable, are presented below (in thousands) and are included in the consolidated results of operations for the years ended December 31, 2022, 2021, and 2020: Year Ended December 31, 2022 2021 2020 Revenues: Rental and related revenues $ — $ 7,535 $ 97,877 Resident fees and services 7,489 114,936 621,253 Total revenues 7,489 122,471 719,130 Costs and expenses: Interest expense — 3,900 10,538 Depreciation and amortization — — 143,194 Operating 6,452 122,571 550,226 Transaction costs — 76 20,426 Impairments and loan loss reserves (recoveries), net — 32,736 201,344 Total costs and expenses 6,452 159,283 925,728 Other income (expense): Gain (loss) on sales of real estate, net 1,344 414,721 460,144 Other income (expense), net 169 4,189 5,475 Total other income (expense), net 1,513 418,910 465,619 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 2,550 382,098 259,021 Income tax benefit (expense) 270 969 9,913 Equity income (loss) from unconsolidated joint ventures 64 5,135 (1,188) Income (loss) from discontinued operations $ 2,884 $ 388,202 $ 267,746

Impairments of Real Estate

Impairments of Real Estate	12 Months Ended
	Dec. 31, 2022
Asset Impairment Charges [Abstract]
Impairments of Real Estate	Impairments of Real Estate 2022 During the year ended December 31, 2022, the Company did not recognize any impairment charges. 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 the demolition of 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 (primarily lease revenue rates, expense rates, and growth rates). There are inherent uncertainties in making these assumptions. For the Company’s impairment calculations 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 values of the assets are considered to be Level 3 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 charge 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 senior housing triple-net 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. During the years ended December 31, 2022, 2021, and 2020, 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 charges were recognized with respect to the other reporting units. 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 Level 3 measurements within the fair value hierarchy, and are subject to inherent uncertainties. Casualty-Related Charges During the years ended December 31, 2022, 2021, and 2020, the Company recognized $6 million, $5 million, and $0.5 million, respectively, of net casualty-related charges. During the year ended December 31, 2022, such charges were primarily attributable to damages as a result of Hurricane Ian. During the year ended December 31, 2021, such charges were primarily due to fire damage at one of the properties in the SWF SH JV and winter storm Uri. Casualty-related charges are recognized in other income (expense), net and equity income (loss) from unconsolidated joint ventures in the Consolidated Statements of Operations. Other Losses During the first quarter of 2022, the Company recognized $14 million of expenses for tenant relocation and other costs associated with the demolition of an MOB. These expenses are included in other income (expense), net on the Consolidated Statements of Operations for the year ended December 31, 2022. See Note 8 for information related to the Company’s reserve for loan losses.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2022 2021 2020 Fixed income from operating leases $ 1,182,463 $ 1,087,683 $ 943,638 Variable income from operating leases 359,312 290,701 238,470 Interest income from direct financing leases 1,168 8,702 9,720 Direct Financing Leases 2022 Direct Financing Lease Sale During the first quarter of 2022, the Company sold its remaining hospital under a DFL for $68 million and recognized a gain on sale of $23 million, which is included in other income (expense), net. 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. Net investment in DFLs consists of the following (in thousands): December 31, 2022 2021 Present value of minimum lease payments receivable $ — $ 1,220 Present value of estimated residual value — 44,706 Less deferred selling profits — (1,220) Net investment in direct financing leases $ — $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2022, the Company had no leases classified as a DFL. At December 31, 2021, the Company had one hospital lease classified as a DFL with a carrying amount of $45 million and an internal rating of “performing”. 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, 2022 (in thousands): Year Amount 2023 $ 1,132,120 2024 1,106,555 2025 1,025,557 2026 917,925 2027 828,431 Thereafter 3,100,427 $ 8,111,015 Tenant Purchase Options Certain leases 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 2023 $ 5,779 7 2024 7,446 3 2025 13,772 16 2026 5,594 3 2027 7,704 5 Thereafter 14,816 4 $ 55,111 38 _______________________________________ (1) Represents the most recent month’s base rent including additional rent floors 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, 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: 2022 2021 2020 Total lease expense $ 16,689 $ 14,442 $ 13,601 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 52 Weighted average discount rate: Operating leases 4.20 % 4.14 % _______________________________________ (1) As of December 31, 2022 and 2021, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years and 68 years, respectively. 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, 2022 (in thousands): Year Amount 2023 $ 17,146 2024 13,126 2025 11,946 2026 11,875 2027 11,941 Thereafter 484,897 Undiscounted minimum lease payments included in the lease liability 550,931 Less: imputed interest (342,416) Present value of lease liability $ 208,515 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases, 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, 2022 and 2021 is $10 million and $7 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2022, 2021, and 2020 is $3 million, $2 million, and $2 million, respectively, of depreciation expense related to corporate assets. Denver Corporate Headquarters During the year ended December 31, 2022, the Company recognized $7 million of charges in connection with the downsizing of the Company’s corporate headquarters in Denver, Colorado. These charges are included in general and administrative expenses on the Consolidated Statements of Operations. 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 years ended December 31, 2022 and 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, 2022 2021 2020 Fixed income from operating leases $ 1,182,463 $ 1,087,683 $ 943,638 Variable income from operating leases 359,312 290,701 238,470 Interest income from direct financing leases 1,168 8,702 9,720 Direct Financing Leases 2022 Direct Financing Lease Sale During the first quarter of 2022, the Company sold its remaining hospital under a DFL for $68 million and recognized a gain on sale of $23 million, which is included in other income (expense), net. 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. Net investment in DFLs consists of the following (in thousands): December 31, 2022 2021 Present value of minimum lease payments receivable $ — $ 1,220 Present value of estimated residual value — 44,706 Less deferred selling profits — (1,220) Net investment in direct financing leases $ — $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2022, the Company had no leases classified as a DFL. At December 31, 2021, the Company had one hospital lease classified as a DFL with a carrying amount of $45 million and an internal rating of “performing”. 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, 2022 (in thousands): Year Amount 2023 $ 1,132,120 2024 1,106,555 2025 1,025,557 2026 917,925 2027 828,431 Thereafter 3,100,427 $ 8,111,015 Tenant Purchase Options Certain leases 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 2023 $ 5,779 7 2024 7,446 3 2025 13,772 16 2026 5,594 3 2027 7,704 5 Thereafter 14,816 4 $ 55,111 38 _______________________________________ (1) Represents the most recent month’s base rent including additional rent floors 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, 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: 2022 2021 2020 Total lease expense $ 16,689 $ 14,442 $ 13,601 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 52 Weighted average discount rate: Operating leases 4.20 % 4.14 % _______________________________________ (1) As of December 31, 2022 and 2021, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years and 68 years, respectively. 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, 2022 (in thousands): Year Amount 2023 $ 17,146 2024 13,126 2025 11,946 2026 11,875 2027 11,941 Thereafter 484,897 Undiscounted minimum lease payments included in the lease liability 550,931 Less: imputed interest (342,416) Present value of lease liability $ 208,515 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases, 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, 2022 and 2021 is $10 million and $7 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2022, 2021, and 2020 is $3 million, $2 million, and $2 million, respectively, of depreciation expense related to corporate assets. Denver Corporate Headquarters During the year ended December 31, 2022, the Company recognized $7 million of charges in connection with the downsizing of the Company’s corporate headquarters in Denver, Colorado. These charges are included in general and administrative expenses on the Consolidated Statements of Operations. 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 years ended December 31, 2022 and 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, 2022 2021 2020 Fixed income from operating leases $ 1,182,463 $ 1,087,683 $ 943,638 Variable income from operating leases 359,312 290,701 238,470 Interest income from direct financing leases 1,168 8,702 9,720 Direct Financing Leases 2022 Direct Financing Lease Sale During the first quarter of 2022, the Company sold its remaining hospital under a DFL for $68 million and recognized a gain on sale of $23 million, which is included in other income (expense), net. 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. Net investment in DFLs consists of the following (in thousands): December 31, 2022 2021 Present value of minimum lease payments receivable $ — $ 1,220 Present value of estimated residual value — 44,706 Less deferred selling profits — (1,220) Net investment in direct financing leases $ — $ 44,706 Direct Financing Lease Internal Ratings At December 31, 2022, the Company had no leases classified as a DFL. At December 31, 2021, the Company had one hospital lease classified as a DFL with a carrying amount of $45 million and an internal rating of “performing”. 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, 2022 (in thousands): Year Amount 2023 $ 1,132,120 2024 1,106,555 2025 1,025,557 2026 917,925 2027 828,431 Thereafter 3,100,427 $ 8,111,015 Tenant Purchase Options Certain leases 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 2023 $ 5,779 7 2024 7,446 3 2025 13,772 16 2026 5,594 3 2027 7,704 5 Thereafter 14,816 4 $ 55,111 38 _______________________________________ (1) Represents the most recent month’s base rent including additional rent floors 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, 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: 2022 2021 2020 Total lease expense $ 16,689 $ 14,442 $ 13,601 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 52 Weighted average discount rate: Operating leases 4.20 % 4.14 % _______________________________________ (1) As of December 31, 2022 and 2021, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years and 68 years, respectively. 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, 2022 (in thousands): Year Amount 2023 $ 17,146 2024 13,126 2025 11,946 2026 11,875 2027 11,941 Thereafter 484,897 Undiscounted minimum lease payments included in the lease liability 550,931 Less: imputed interest (342,416) Present value of lease liability $ 208,515 Depreciation Expense While the Company leases the majority of its property, plant, and equipment to various tenants under operating leases, 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, 2022 and 2021 is $10 million and $7 million, respectively, of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2022, 2021, and 2020 is $3 million, $2 million, and $2 million, respectively, of depreciation expense related to corporate assets. Denver Corporate Headquarters During the year ended December 31, 2022, the Company recognized $7 million of charges in connection with the downsizing of the Company’s corporate headquarters in Denver, Colorado. These charges are included in general and administrative expenses on the Consolidated Statements of Operations. 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 years ended December 31, 2022 and 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, 2022
Receivables [Abstract]
Loans Receivable	Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2022 2021 Secured loans (1) $ 350,837 $ 396,281 Mezzanine and other 33,083 25,529 Unamortized discounts, fees, and costs (808) (4,186) Reserve for loan losses (8,280) (1,813) Loans receivable, net $ 374,832 $ 415,811 _______________________________________ (1) At December 31, 2022 and 2021, the Company had $40 million and $58 million, respectively, remaining of commitments to fund additional loans for senior housing redevelopment and capital expenditure projects. During the years ended December 31, 2022, 2021, and 2020, the Company recognized $22 million, $36 million, and $13 million, respectively, of interest income related to loans secured by real estate. SHOP Seller Financing Sunrise Senior Housing Portfolio 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). As of December 31, 2022, the additional financing was reduced to $40 million, of which $0.4 million had been funded. 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 connection with the June 2021 principal repayment, 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. Additionally, in February 2022, July 2022, and December 2022 , the Company received principal repayments of $8 million, $27 million, and $10 million, respectively, in conjunction with the disposition of the underlying collateral. As of December 31, 2022 and 2021, this secured loan had an outstanding principal balance of $120 million and $165 million, respectively. Other Seller Financing 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. 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 2022 Other Loans Receivable Transactions In May 2022, the Company received full repayment of the outstanding balance of a $2 million secured loan. In November 2022, the Company received full repayment of the outstanding balance of a $1 million mezzanine loan. In December 2022, the Company extended the maturity dates of four secured loans with an aggregate outstanding balance of $61 million, originally scheduled to mature in December 2022, by one year to December 2023. In connection with the extensions, the interest rates on the loans were increased to a variable rate based on the Secured Overnight Financing Rate (“SOFR”) administered by the Federal Reserve Bank of New York, with a floor of 8.5% for the first six months of the extended term, increasing to 10.5% for the last six months of the extended term. Loans Receivable Transactions Subsequent to Year-End In January 2023, one secured loan with an outstanding balance of $150 million reached maturity and the borrower did not make the required principal repayment. Accordingly, the loan is in default. The borrower is in discussions with the Company regarding repayment options and extension of the maturity date. In February 2023, the Company received full repayment of the outstanding balance of a $35 million secured loan. Refer to Schedule IV: Mortgage Loans on Real Estate for additional information. 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 previously 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 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. CCRC Resident Loans 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. At December 31, 2022 and 2021, the Company held $33 million and $24 million, respectively, of such notes receivable, which are included in mezzanine and other in the table above. 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, 2022 (in thousands): Investment Type Year of Origination Total 2022 2021 2020 2019 2018 Prior Secured loans Risk rating: Performing loans $ — $ 266,197 $ 75,552 $ — $ — $ — $ 341,749 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ — $ 266,197 $ 75,552 $ — $ — $ — $ 341,749 Mezzanine and other Risk rating: Performing loans $ 32,410 $ 595 $ 78 $ — $ — $ — $ 33,083 Watch list loans — — — — — — — Workout loans — — — — — — — Total mezzanine and other $ 32,410 $ 595 $ 78 $ — $ — $ — $ 33,083 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, 2022 December 31, 2021 Secured Loans Mezzanine and Other Total Secured Loans Mezzanine and Other Total Reserve for loan losses, beginning of period $ 1,804 $ 9 $ 1,813 $ 3,152 $ 7,128 $ 10,280 Provision for expected loan losses 6,527 7 6,534 793 896 1,689 Expected loan losses related to loans sold or repaid (1) (51) (16) (67) (2,141) (8,015) (10,156) Reserve for loan losses, end of period $ 8,280 $ — $ 8,280 $ 1,804 $ 9 $ 1,813 _______________________________________ (1) Includes two loans sold or repaid during t he year ended December 31, 2022 and six loans sold or repaid during the year ended December 31, 2021. Additionally, at December 31, 2022 and 2021, a liability of $0.8 million and $0.3 million, respectively, related to expected credit losses for unfunded loan commitments was included in accounts payable, accrued liabilities, and other liabilities. The change in the reserve for expected loan losses during the year ended December 31, 2022 is primarily due to the following: (i) macroeconomic conditions and (ii) increased interest rates on our variable rate loans.

Investments in and Advances to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2022
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 (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Property Count (2) Ownership % (2) 2022 2021 SWF SH JV Other 19 54 $ 345,978 $ 355,394 South San Francisco JVs (3) Life science 7 70 309,969 — Life Science JV Life science 1 49 26,601 25,605 Needham Land Parcel JV (4) Life science — 38 15,391 13,566 Medical Office JVs (5) Medical office 3 20 - 67 8,738 9,069 $ 706,677 $ 403,634 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Property counts and ownership percentages are as of December 31, 2022. (3) Includes seven unconsolidated life science joint ventures in South San Francisco, California in which the Company holds a 70% ownership percentage in each joint venture. These joint ventures have been aggregated herein due to similarity of the investments and operations. See “South San Francisco Joint Ventures” below for further information. (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, 2022. (5) Includes two unconsolidated medical office joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%) and (ii) Suburban Properties, LLC (67%). During 2021, the Company also held a 30% interest in Ventures III, which issued its final distribution and was dissolved. These joint ventures have been aggregated herein due to similarity of the investments and operations. At December 31, 2022 and 2021, the aggregate unamortized basis difference of the Company’s investments in unconsolidated joint ventures of $41 million and $42 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. Other JVs. 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). Prior to the sale, the Company’s ownership percentage in these two unconsolidated joint ventures was as follows: (i) Discovery Naples JV (41%) and (ii) Discovery Sarasota JV (47%). CCRC JV. In May 2021, the two remaining CCRCs in the CCRC joint venture 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 during the year ended December 31, 2021. South San Francisco JVs. On August 1, 2022, the Company sold a 30% interest in seven life science assets in South San Francisco, California to a sovereign wealth fund (“SWF Partner”) for cash of $126 million. Following this transaction, the Company and the SWF Partner (collectively, the “Members”) share in key decisions of the assets through their voting rights, resulting in the Company deconsolidating the assets, recognizing its retained 70% investment in the South San Francisco joint ventures (the “South San Francisco JVs”) at fair value, and accounting for its investment using the equity method. The fair values of the Company’s retained investment were based on a market approach, utilizing an agreed-upon contractual sales price, which is considered to be a Level 3 measurement within the fair value hierarchy. During the year ended December 31, 2022, the Company recognized a gain upon change of control of $311 million, which is recorded in other income (expense), net. The Company is entitled to a preferred return, a promote, and certain fees in exchange for development and asset management services provided to the South San Francisco JVs when certain conditions are met. Concurrently, the Company entered into a master equity transaction agreement with the SWF Partner that provided the Members with an opportunity to participate in a future joint venture in certain development projects currently owned by the Company. In January 2023, the Company and the SWF Partner mutually agreed not to proceed with the joint venture related to these development projects.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2022
Intangibles [Abstract]
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 2022 2021 Gross intangible lease assets $ 770,285 $ 797,675 Accumulated depreciation and amortization (352,224) (277,915) Intangible assets, net (1) $ 418,061 $ 519,760 Weighted average remaining amortization period in years 5 6 _______________________________________ (1) Excludes intangible assets reported in assets held for sale of $2 million and zero as of December 31, 2022 and 2021, respectively. 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 2022 2021 Gross intangible lease liabilities $ 237,464 $ 234,917 Accumulated depreciation and amortization (81,271) (57,685) Intangible liabilities, net $ 156,193 $ 177,232 Weighted average remaining amortization period in years 7 8 The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands): Year Ended December 31, 2022 2021 2020 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 104,885 $ 106,106 $ 89,301 Rental and related revenues related to amortization of net below market lease liabilities (1) 24,640 20,597 11,717 _______________________________________ (1) Excludes amortization related to assets classified as discontinued operations. During the year ended December 31, 2022, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $7 million and intangible liabilities of $6 million. The intangible assets and liabilities acquired had a weighted average amortization period at acquisition of 7 years and 11 years, respectively. 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 intangible liabilities acquired each had a weighted average amortization period at acquisition of 9 years. The following table summarizes the estimated annual amortization for each of the five succeeding fiscal years and thereafter (in thousands): Rental and Related Revenues Depreciation and Amortization 2023 $ 24,036 $ 99,784 2024 22,913 95,570 2025 21,891 83,984 2026 19,397 51,948 2027 15,393 26,349 Thereafter 43,356 51,219 $ 146,986 $ 408,854 Goodwill At each of December 31, 2022 and 2021, the Company’s goodwill balance was $18 million

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Bank Line of Credit and Term Loans On May 23, 2019, the Company executed a $2.5 billion unsecured revolving line of credit facility, 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. 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 the London Interbank Offered Rate (“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. Additionally, the Revolving Facility 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. Based on the Company’s credit ratings at December 31, 2022, and inclusive of achievement of a sustainability-linked metric during the year ended December 31, 2021, the margin on the Revolving Facility was 0.75% and the facility fee was 0.15%. At December 31, 2022 and 2021, 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 SOFR. 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, 2022. On August 22, 2022, the Company executed a term loan agreement (the “2022 Term Loan Agreement”) that provided for two senior unsecured delayed draw term loans in an aggregate principal amount of up to $500 million (the “2022 Term Loan Facilities”). The 2022 Term Loan Facilities were available to be drawn from time to time during a 180-day period after closing, subject to customary borrowing conditions. $250 million of the 2022 Term Loan Facilities has an initial stated maturity of 4.5 years, which may be extended for a one-year period subject to certain customary conditions. The other $250 million of the 2022 Term Loan Facilities has a stated maturity of 5 years with no option to extend. In October 2022, the entirety of the $500 million under the 2022 Term Loan Facilities was drawn. Therefore, at December 31, 2022, the Company had $500 million outstanding under the 2022 Term Loan Facilities. Loans outstanding under the 2022 Term Loan Facilities accrue interest at adjusted SOFR plus a margin that depends on the credit ratings of the Company’s senior unsecured long-term debt. The 2022 Term Loan Agreement also includes a sustainability-linked pricing component whereby the applicable margin under the 2022 Term Loan Facilities may be reduced by 0.01% based on the Company’s achievement of specified sustainability-linked metrics. Based on the Company’s credit ratings as of December 31, 2022, the margin on the 2022 Term Loan Facilities was 0.85%. The 2022 Term Loan Agreement includes a feature that allows the Company to increase the borrowing capacity by an aggregate amount of up to an additional $500 million, subject to securing additional commitments. The 2022 Term Loan Agreement 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, 2022. In August 2022, the Company entered into two forward-starting interest rate swap instruments that are designated as cash flow hedges (see Note 22). The 2022 Term Loan Facilities associated with these interest rate swap instruments are reported as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instruments. Based on the Company’s credit ratings as of December 31, 2022, the 2022 Term Loan Facilities had a blended fixed effective interest rate of 3.77%, inclusive of the impact of these interest rate swap instruments and amortization of the related debt issuance costs. 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. At December 31, 2021, the maximum aggregate face or principal amount that could be outstanding at any one time was $1.5 billion. In July 2022, the Company increased the maximum aggregate face or principal amount that can be outstanding at any one time to $2.0 billion. Amounts borrowed under the Commercial Paper Program will be sold on terms that are customary for the U.S. commercial paper market and will be at least equal in right of payment with all of the Company’s other unsecured and unsubordinated indebtedness. The Company 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, 2022, the Company had $996 million of securities outstanding under the Commercial Paper Program, with original maturities of approximately two months and a weighted average interest rate of 4.90%. 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%. Senior Unsecured Notes At each of December 31, 2022 and 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, 2022. During the year ended December 31, 2022, the Company did not issue, repurchase, or redeem any senior unsecured notes. In 2021, the Company completed two green bond offerings. The net proceeds from both green bonds have been allocated to eligible green projects, and the Company may choose to re-allocate net proceeds from such offerings to one or 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 In January 2023, the Company completed a senior unsecured note issuance as summarized in the following table (dollars in thousands): Issue Date Amount Coupon Rate Maturity Date January 17, 2023 $ 400,000 5.25 % 2032 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 (1) : May 19, 2021 $ 251,806 3.40 % 2025 May 19, 2021 298,194 4.00 % 2025 February 26, 2021 188,000 4.25 % 2023 February 26, 2021 149,000 4.20 % 2024 February 26, 2021 331,000 3.88 % 2024 January 28, 2021 112,000 4.25 % 2023 January 28, 2021 201,000 4.20 % 2024 January 28, 2021 469,000 3.88 % 2024 Year ended December 31, 2020 (2) : July 9, 2020 300,000 3.15 % 2022 June 24, 2020 250,000 4.25 % 2023 _______________________________________ (1) As a result of the repurchases and redemptions of these senior unsecured notes, the Company recognized an aggregate $225 million loss on debt extinguishment during the year ended December 31, 2021. (2) As a result of the repurchases and redemptions of these senior unsecured notes, the Company recognized an aggregate $44 million loss on debt extinguishment during the year ended December 31, 2020. Mortgage Debt At December 31, 2022 and 2021, the Company had $345 million and $350 million, respectively, in aggregate principal of mortgage debt outstanding, which was secured by 18 healthcare facilities, with an aggregate carrying value of $793 million and $811 million, respectively. 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. During the years ended December 31, 2022, 2021, and 2020 the Company made aggregate principal repayments of mortgage debt of $5 million, $9 million, and $5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). 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. In April 2022, the Company terminated its existing interest rate cap instruments associated with this variable rate mortgage debt and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 (see Note 22). The variable rate mortgage debt associated with these interest rate swap instruments is reported as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instrument. Debt Maturities The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2022 (dollars in thousands): Senior Unsecured Notes (2) Mortgage Debt (3) Year Bank Line of Credit Commercial Paper (1) Term Loans Amount Interest Rate Amount Interest Rate Total 2023 $ — $ — $ — $ — — % $ 90,089 3.80 % $ 90,089 2024 — — — — — % 7,024 6.14 % 7,024 2025 — — — 800,000 3.92 % 3,209 3.82 % 803,209 2026 — 995,606 — 650,000 3.40 % 244,523 4.48 % 1,890,129 2027 — — 500,000 450,000 1.54 % 366 5.91 % 950,366 Thereafter — — — 2,800,000 3.50 % — — % 2,800,000 — 995,606 500,000 4,700,000 345,211 6,540,817 Premiums, (discounts), and debt issuance costs, net — — (4,043) (40,549) 1,388 (43,204) $ — $ 995,606 $ 495,957 $ 4,659,451 $ 346,599 $ 6,497,613 _______________________________________ (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 6.87% with a weighted average effective interest rate of 3.37% and a weighted average maturity of 6 years. (3) Effective interest rates on the mortgage debt range from 3.44% to 7.93% with a weighted average effective interest rate of 4.33% and a weighted average maturity of 3 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
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 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 Internal Revenue 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 the Life Science JV (see Note 9). 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, 2022 (in thousands): Amount Development and redevelopment commitments (1) $ 219,059 Lease and other contractual commitments (2) 33,164 Construction loan commitments (3) 39,965 $ 292,188 _______________________________________ (1) Represents construction and other commitments as of December 31, 2022 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, 2022 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, 2022 to fund additional loans for 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, 2022
Equity [Abstract]
Equity and Redeemable Noncontrolling Interests	Equity and Redeemable Noncontrolling Interests Dividends On February 1, 2023, 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 23, 2023 to stockholders of record as of the close of business on February 9, 2023. During the years ended December 31, 2022, 2021, and 2020, the Company declared and paid common stock cash dividends of $1.20, $1.20, 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 At December 31, 2022, $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, 2020, the Company utilized the forward provisions under a previous ATM program established in 2019 (the “2019 ATM Program”) 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. Additionally, during the year ended December 31, 2020, the Company settled 16.8 million shares previously outstanding under the 2019 ATM Program at a weighted average net price of $31.38 per share, after commissions, resulting in net proceeds of $528 million. At December 31, 2020, no shares remained outstanding under the 2019 ATM Program. 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. None of these shares were settled during the year and therefore, all 9.1 million shares remained outstanding at December 31, 2021. During the year ended December 31, 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $34.01 per share, after commissions, resulting in net proceeds of $308 million. Therefore, at December 31, 2022, no shares remained outstanding under ATM forward contracts. ATM Direct Issuances During the years ended December 31, 2022, 2021, and 2020, there were no direct issuances of shares of common stock under the ATM program. 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 year ended December 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 under the 2019 ATM Program, as discussed above). Therefore, at December 31, 2022, 2021, and 2020, no shares remained outstanding under the 2019 forward equity sales agreement. Share Repurchase Program On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company may acquire shares of its common stock in the open market up to an aggregate purchase price of $500 million (the “Share Repurchase Program”). Purchases of common stock under the Share Repurchase Program may be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. The Share Repurchase Program expires in August 2024 and may be suspended or terminated at any time without prior notice. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock at a weighted average price of $27.16 per share for a total of $56 million. Therefore, at December 31, 2022, $444 million of the Company’s common stock remained available for repurchase under the Share Repurchase Program. Other Common Stock Activities The following table summarizes the Company’s other common stock activities (in thousands): Year Ended December 31, 2022 2021 2020 Dividend Reinvestment and Stock Purchase Plan $ 59 $ 81 $ 181 Conversion of DownREIT units 27 8 120 Exercise of stock options — 97 54 Vesting of restricted stock units 820 924 668 Repurchase of common stock 2,418 418 298 Accumulated Other Comprehensive Income (Loss) The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2022 2021 Unrealized gains (losses) on derivatives, net $ 30,145 $ — Supplemental Executive Retirement Plan minimum liability (2,011) (3,147) Total accumulated other comprehensive income (loss) $ 28,134 $ (3,147) The Company has a defined benefit pension plan, known as the Supplemental Executive Retirement Plan, with one plan participant, the former Chief Executive Officer (“CEO”) of the Company who departed in 2003. Changes to the Supplemental Executive Retirement Plan minimum liability are reflected in other comprehensive income (loss). 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. During the year ended December 31, 2022, one of the redeemable noncontrolling interests met the conditions for redemption, but was not yet exercised. The three remaining redeemable noncontrolling interests had not yet met the conditions for redemption as of December 31, 2022. Two of the interests will become redeemable following the passage of a predetermined amount of time, which will occur in 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 redemption value at each redemption date. 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, 2022, 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, 2022, the carrying and market values of the five million DownREIT units were $200 million and $183 million, respectively. At December 31, 2021, the carrying and market values of the five million DownREIT units were $201 million and $264 million, respectively.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2022
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, 2022, 2021, and 2020 was zero, 1 thousand, and 201 thousand 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, 2022 2021 2020 Numerator Income (loss) from continuing operations $ 513,540 $ 137,728 $ 160,507 Noncontrolling interests’ share in continuing operations (15,975) (17,851) (14,394) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 497,565 119,877 146,113 Less: Participating securities’ share in continuing operations (2,657) (3,269) (2,416) Income (loss) from continuing operations applicable to common shares 494,908 116,608 143,697 Income (loss) from discontinued operations 2,884 388,202 267,746 Noncontrolling interests’ share in discontinued operations — (2,539) (296) Net income (loss) applicable to common shares - basic and diluted $ 497,792 $ 502,271 $ 411,147 Denominator Basic weighted average shares outstanding 538,809 538,930 530,555 Dilutive potential common shares - equity awards (1) 338 310 300 Dilutive potential common shares - forward equity agreements (2) — 1 201 Diluted weighted average common shares 539,147 539,241 531,056 Basic earnings (loss) per common share Continuing operations $ 0.92 $ 0.22 $ 0.27 Discontinued operations 0.00 0.71 0.50 Net income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77 Diluted earnings (loss) per common share: Continuing operations $ 0.92 $ 0.22 $ 0.27 Discontinued operations 0.00 0.71 0.50 Net income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77 _______________________________________ (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, 2022, all 9.1 million shares that were settled during the year then ended were anti-dilutive. For the year ended December 31, 2021, all 9.1 million shares that were not settled during the year then ended were anti-dilutive. For the year ended December 31, 2020, represents the dilutive impact of 32 million shares that were settled during the year then ended.

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2022
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, 2022, 25 million of the reserved shares under the 2014 Plan are available for future awards, of which 16 million shares may be issued as restricted stock or restricted stock units. Total share-based compensation cost was $32 million, $23 million, and $21 million for the years ended December 31, 2022, 2021, and 2020, respectively, which was recognized in general and administrative expenses. Of the total share-based compensation cost, $4 million, $3 million, and $2 million was capitalized as part of real estate for the years ended December 31, 2022, 2021, and 2020, respectively. The year ended December 31, 2022 includes $10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. As of December 31, 2022, there was $19 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 1.5 years associated with future employee service. Departure of Executives On October 6, 2022, the Company and Thomas M. Herzog mutually agreed that Mr. Herzog would step down from his position as CEO and from the board of directors of the Company, effective immediately. On November 1, 2022, the Company and Troy E. McHenry mutually agreed that Mr. McHenry would step down from his position as Chief Legal Officer and General Counsel, effective immediately. During the fourth quarter of 2022, the Company recognized total severance-related charges of $33 million in general and administrative expenses on the Consolidated Statements of Operations, $10 million of which related to a decrease in the requisite service period of restricted stock units as discussed above. These restricted stock units will continue to vest in accordance with the original terms of the grants. As of December 31, 2022, $15 million of these severance-related charges have not yet been paid and were included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets. Stock Options There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 0.3 million at December 31, 2022 and 0.4 million at December 31, 2021. There were no stock options exercised under the Plans for the year ended December 31, 2022. For the years ended December 31, 2021 and 2020, proceeds received from stock options exercised under the Plans were $3 million, and $2 million, respectively. No compensation cost related to stock options was incurred during the years ended December 31, 2022, 2021, and 2020. 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 1.8%, 0.2%, and 1.4%, and (v) post-vesting restrictions discount of 5.8%, 12.9%, and 0.0%. The total grant date fair value of restricted stock and performance based units for the years ended December 31, 2022, 2021, and 2020 was $27 million, $23 million, and $24 million, respectively. The total fair value (at vesting) of restricted stock and performance based units for the years ended December 31, 2022, 2021, and 2020 was $27 million, $29 million, and $20 million, respectively. The compensation cost recognized for all restricted stock awards is net of actual forfeitures. Upon vesting of restricted stock awards, the participant is required to pay the related tax withholding obligation. 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, 2022, 2021, and 2020, the Company withheld 356,000, 418,000, and 298,000 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, 2022 (units in thousands): Restricted Weighted Unvested at January 1, 2022 1,692 $ 33.72 Granted 983 32.94 Vested (820) 32.87 Forfeited (146) 34.02 Unvested at December 31, 2022 1,709 $ 33.66

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company’s reportable segments, based on how its chief operating decision maker (“CODM”) evaluates the business and allocates 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 an unconsolidated JV that owns 19 senior housing assets (the “SWF SH JV”), loans receivable, and marketable debt securities. 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 are non-GAAP supplemental measures that are calculated as NOI and Adjusted NOI from consolidated properties, plus the Company’s share of NOI and Adjusted NOI from unconsolidated joint ventures (calculated by applying the Company’s actual ownership percentage for the period), less noncontrolling interests’ share of NOI and Adjusted NOI from consolidated joint ventures (calculated by applying the Company’s actual ownership percentage for the period). Management utilizes its share of NOI and Adjusted NOI in assessing its performance as the Company has various joint ventures that contribute to its performance. The Company does not control its unconsolidated joint ventures, and the Company’s share of amounts from unconsolidated joint ventures do not represent the Company’s legal claim to such items. The Company’s share of NOI and Adjusted NOI should not be considered a substitute for, and should only be considered together with and as a supplement to, the Company’s financial information presented in accordance with GAAP. 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 debt 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, 2022: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 817,573 $ 725,370 $ 494,935 $ 23,300 $ — $ 2,061,178 Government grant income (1) — — 6,765 — — 6,765 Less: Interest income — — — (23,300) — (23,300) Healthpeak’s share of unconsolidated joint venture total revenues 9,921 2,999 — 73,885 — 86,805 Healthpeak’s share of unconsolidated joint venture government grant income — — 380 498 — 878 Noncontrolling interests’ share of consolidated joint venture total revenues (268) (35,717) — — — (35,985) Operating expenses (209,143) (253,309) (400,539) — — (862,991) Healthpeak’s share of unconsolidated joint venture operating expenses (2,883) (1,178) — (57,632) — (61,693) Noncontrolling interests’ share of consolidated joint venture operating expenses 87 10,317 — — — 10,404 Adjustments to NOI (2) (62,754) (15,513) 2,300 169 — (75,798) Adjusted NOI 552,533 432,969 103,841 16,920 — 1,106,263 Plus: Adjustments to NOI (2) 62,754 15,513 (2,300) (169) — 75,798 Interest income — — — 23,300 — 23,300 Interest expense — (6,900) (7,509) — (158,535) (172,944) Depreciation and amortization (302,649) (279,546) (128,374) — — (710,569) General and administrative — — — — (131,033) (131,033) Transaction costs (387) (1,255) (725) — (2,486) (4,853) Impairments and loan loss reserves, net — — — (7,004) — (7,004) Gain (loss) on sales of real estate, net 3,744 10,659 — (5,325) — 9,078 Other income (expense), net 311,939 12,709 (1,380) (13) 3,013 326,268 Less: Government grant income — — (6,765) — — (6,765) Less: Healthpeak’s share of unconsolidated joint venture NOI (7,038) (1,821) (380) (16,751) — (25,990) Plus: Noncontrolling interests’ share of consolidated joint venture NOI 181 25,400 — — — 25,581 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 621,077 207,728 (43,592) 10,958 (289,041) 507,130 Income tax benefit (expense) — — — — 4,425 4,425 Equity income (loss) from unconsolidated joint ventures (972) 852 539 1,566 — 1,985 Income (loss) from continuing operations 620,105 208,580 (43,053) 12,524 (284,616) 513,540 Income (loss) from discontinued operations — — — — 2,884 2,884 Net income (loss) $ 620,105 $ 208,580 $ (43,053) $ 12,524 $ (281,732) $ 516,424 _______________________________________ (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, 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. The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segment 2022 2021 Life science $ 9,019,271 $ 8,257,990 Medical office 6,291,986 6,152,512 CCRC 2,276,898 2,233,377 Reportable segment assets 17,588,155 16,643,879 Accumulated depreciation and amortization (3,540,362) (3,125,416) Net reportable segment assets 14,047,793 13,518,463 Other non-reportable segment assets 744,550 794,172 Assets held for sale and discontinued operations, net 49,866 37,190 Other non-segment assets 929,020 907,694 Total assets $ 15,771,229 $ 15,257,519 See Notes 4, 5, 6, 7, 8, and 9 for significant transactions impacting the Company’s segment assets during the periods presented. At each of December 31, 2022 and 2021, goodwill of $18 million was allocated to the Company’s segment assets as follows: (i) $14 million for medical office, (ii) $2 million for CCRC, and (iii) $2 million for other non-reportable.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
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 and local 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, 2022 2021 2020 Ordinary dividends (1) $ 0.872948 $ 0.152336 $ 0.713864 Capital gains (2)(3) 0.183208 0.379960 0.529796 Nondividend distributions 0.143844 0.667704 0.236340 $ 1.200000 $ 1.200000 $ 1.480000 _______________________________________ (1) For the year ended December 31, 2022, all $0.872948 of ordinary dividends qualified as business income for purposes of Code Section 199A. For the year ended December 31, 2021, the amount includes $0.137064 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.015272 of qualified dividend income for purposes of Code Section 1(h)(11). For the year ended December 31, 2020, all $0.713864 of ordinary dividends qualified as business income for purposes of Code Section 199A. (2) For the years ended December 31, 2022, 2021, and 2020, the amount includes $0.017760, $0.379960, and $0.221420, respectively, of Unrecaptured Section 1250 gain. Pursuant to Treasury Regulation Section 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.” For the year ended December 31, 2022, the “One Year Amounts” and “Three Year Amounts” are 89.6708% of the total capital gain distributions and the remaining capital gain distributions are attributable to Code Section 1231 gains, which are not subject to Code Section 1061. For the years ended December 31, 2021 and 2020, the “One Year Amounts” and “Three Year Amounts” are each zero, since all capital gains relate to Code Section 1231 gains. (3) For the years ended December 31, 2022, 2021, and 2020, 10.3292%, 100%, and 100%, respectively, of the capital gain distributions represent gains from dispositions of U.S. real property interests pursuant to Code Section 897 for foreign shareholders. The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2022, 2021, and 2020 was $509 million, $134 million, and $151 million, respectively, of which $527 million, $150 million, and $80 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 $(18) million, $(16) million, and $71 million for the years ended December 31, 2022, 2021, and 2020, respectively. The total income tax benefit (expense) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2022 2021 2020 Current Federal $ (632) $ (126) $ 9,164 State (689) (1,003) (1,431) Total current $ (1,321) $ (1,129) $ 7,733 Deferred Federal $ 3,157 $ 3,469 $ 2,849 State 2,589 921 (1,159) Total deferred $ 5,746 $ 4,390 $ 1,690 Total income tax benefit (expense) from continuing operations $ 4,425 $ 3,261 $ 9,423 The Company’s income tax benefit from discontinued operations was $0.3 million, $1 million, and $10 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 5). The following table reconciles income tax benefit (expense) from continuing operations at statutory rates to actual income tax benefit (expense) recorded (in thousands): Year Ended December 31, 2022 2021 2020 Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax $ 3,698 $ 3,345 $ (15,016) State income tax benefit (expense), net of federal tax 911 706 (4,211) Gross receipts and margin taxes (956) (989) (980) Return to provision adjustments 1,260 (4) (707) Valuation allowance for deferred tax assets 194 203 (24,051) Tax rate differential ─ NOL carryback under the CARES Act — — 3,732 Change in tax status of TRS (682) — 50,656 Total income tax benefit (expense) from continuing operations $ 4,425 $ 3,261 $ 9,423 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, 2022 2021 2020 Deferred tax assets: Deferred revenue $ 102,504 $ 104,397 $ 103,713 Net operating loss carryforward 62,280 71,744 68,444 Expense accruals 12,399 14,229 15,478 Real estate 150 129 3,895 Investment in unconsolidated joint ventures — — 2,333 Other 689 — — Total deferred tax assets 178,022 190,499 193,863 Valuation allowance (26,098) (35,772) (33,519) Deferred tax assets, net of valuation allowance $ 151,924 $ 154,727 $ 160,344 Deferred tax liabilities: Real estate $ 52,266 $ 61,097 $ 72,059 Other 674 648 1,094 Deferred tax liabilities $ 52,940 $ 61,745 $ 73,153 Net deferred tax assets $ 98,984 $ 92,982 $ 87,191 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, 2022 and 2021, the Company had a deferred tax asset valuation allowance of $26 million and $36 million, respectively. At December 31, 2022, the Company had a net operating loss (“NOL”) carryforward of $249 million related to the TRS entities. If unused, $15 million will begin to expire in 2035. The remainder, totaling $234 million, may be carried forward indefinitely. The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2022 2021 2020 Total unrecognized tax benefits at January 1 $ 469 $ 469 $ 469 Gross amount of decreases for prior years’ tax positions (469) — — Total unrecognized tax benefits at December 31 $ — $ 469 $ 469 For the year ended December 31, 2022, the Company had no unrecognized tax benefits. For the years ended December 31, 2021 and 2020, the Company had unrecognized tax benefits of $0.5 million, that, if recognized, would reduce the annual effective tax rate. 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 2019.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Supplemental cash flow information: Interest paid, net of capitalized interest $ 162,115 $ 173,044 $ 209,843 Income taxes paid (refunded) (1,903) 4,521 (786) Capitalized interest 41,046 24,084 27,041 Cash paid for amounts included in the measurement of lease liability for operating leases 12,594 10,620 9,940 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 9,454 28,866 32,208 Decrease in ROU asset with corresponding change in lease liability related to operating leases — 8,410 — Retained investment in connection with South San Francisco JVs transaction 293,265 — — Accrued construction costs 178,626 179,995 95,293 Net noncash impact from the consolidation of previously unconsolidated joint ventures — — 369,223 Refundable entrance fees assumed with real estate acquisitions — — 307,954 Seller financing provided on disposition of real estate asset — 559,745 73,498 Mortgages assumed with real estate acquisitions — — 251,280 Carrying value of mortgages assumed by buyer in real estate dispositions — 143,676 — See Note 3 for discussion of the 2019 MTCA with Brookdale and Note 9 for discussion of the South San Francisco JVs transaction. The following table summarizes certain cash flow information related to assets classified as discontinued operations (in thousands): Year Ended December 31, 2022 2021 2020 Leasing costs, tenant improvements, and recurring capital expenditures $ 21 $ 2,636 $ 12,695 Development, redevelopment, and other major improvements of real estate 18 5,780 30,769 Depreciation and amortization of real estate, in-place lease, and other intangibles — — 143,194 The following table summarizes cash, cash equivalents and restricted cash (in thousands): Year Ended December 31, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Continuing operations Discontinued operations Total Beginning 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 End of year: Cash and cash equivalents $ 72,032 $ 158,287 $ 44,226 $ — $ 7,707 $ 53,085 $ 72,032 $ 165,994 $ 97,311 Restricted cash 54,802 53,454 67,206 — — 17,168 54,802 53,454 84,374 Cash, cash equivalents and restricted cash $ 126,834 $ 211,741 $ 111,432 $ — $ 7,707 $ 70,253 $ 126,834 $ 219,448 $ 181,685

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Unconsolidated Variable Interest Entities At each of December 31, 2022 and 2021, the Company had investments in: (i) two unconsolidated VIE joint ventures and (ii) marketable debt securities of one VIE. 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. At December 31, 2022, the Company held $22 million of 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. These securities matured on December 31, 2022, and the Company received the related proceeds in January 2023. 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 three hospitals and senior housing real estate. Any assets generated by the entity may only be used to settle its contractual obligations (primarily capital expenditures 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 costs and debt service payments). 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, 2022 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) CMBS and LLC investment Other assets, net $ 36,874 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 15,391 _______________________________________ (1) The Company’s maximum loss exposure represents the aggregate carrying amount of such investments (including accrued interest). As of December 31, 2022, 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 Note 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, 2022 and 2021 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. 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 certain decisions 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 capital expenditures for the properties. Assets generated by the Life Science JVs may only be used to settle their contractual obligations. 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. 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 using a reverse like-kind exchange structure 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 the Exchange Accommodation Titleholder (“EAT”). The EAT was classified as a VIE as it was a “thinly capitalized” entity. The Company consolidated the EAT because it had the ability to control the activities that most significantly impacted the economic performance of the EAT and was, therefore, the primary beneficiary of the EAT. These properties held by the EAT had a carrying value of $77 million as of December 31, 2021. The assets of the EAT primarily consisted of leased properties (net real estate, including intangibles), and rents receivable; their obligations primarily consisted of capital expenditures for the properties. Assets generated by the EAT may only be used to settle its contractual obligations (primarily from capital expenditures). These reverse 1031 exchanges were completed in February 2022. Total assets and total liabilities include VIE assets and liabilities as follows (in thousands): December 31, 2022 2021 Assets Buildings and improvements $ 2,356,905 $ 2,303,920 Development costs and construction in progress 58,499 82,303 Land 324,714 548,168 Accumulated depreciation and amortization (623,244) (551,097) Net real estate 2,116,874 2,383,294 Accounts receivable, net 6,893 5,455 Cash and cash equivalents 20,586 22,295 Restricted cash 354 114 Intangible assets, net 73,860 117,180 Assets held for sale and discontinued operations, net 30,355 754 Right-of-use asset, net 99,376 107,993 Other assets, net 73,690 62,886 Total assets $ 2,421,988 $ 2,699,971 Liabilities Mortgage debt $ 144,604 $ 144,350 Intangible liabilities, net 15,066 23,909 Liabilities related to assets held for sale and discontinued operations, net 401 1,677 Lease liability 99,039 99,213 Accounts payable, accrued liabilities, and other liabilities 68,979 58,440 Deferred revenue 39,661 21,546 Total liabilities $ 367,750 $ 349,135 Total assets and total liabilities related to assets held for sale and discontinued operations include VIE assets and liabilities as follows (in thousands): December 31, 2022 2021 Assets Buildings and improvements $ 39,934 $ — Development costs and construction in progress — — Land 1,926 — Accumulated depreciation and amortization (15,612) — Net real estate 26,248 — Accounts receivable, net — 62 Cash and cash equivalents — 59 Intangible assets, net 215 — Other assets, net 3,892 633 Total assets $ 30,355 $ 754 Liabilities Accounts payable, accrued liabilities, and other liabilities $ — $ 1,677 Deferred revenue 401 — Total liabilities $ 401 $ 1,677

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2022
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 the 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 2022 2021 2022 2021 2020 California 37 34 31 28 21 Florida 10 11 18 17 14 Texas 10 10 11 11 9 Massachusetts 17 16 10 9 4 The Company’s rental revenue is generated from multiple tenants across its diverse portfolio. As of December 31, 2022, the Company’s largest tenant in its life science and medical office segments accounted for 2% and 8%, respectively, of the Company’s total revenues.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [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, 2022 and 2021. The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands): December 31, 2022 (3) 2021 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 374,832 $ 369,425 $ 415,811 $ 437,607 Marketable debt securities (2) 21,702 21,702 21,003 21,003 Interest rate swap instruments (2) 30,259 30,259 — — Interest rate cap instruments (2) — — 397 397 Bank line of credit and commercial paper (2) 995,606 995,606 1,165,975 1,165,975 Term loans (2) 495,957 495,957 — — Senior unsecured notes (1) 4,659,451 4,238,124 4,651,933 5,054,747 Mortgage debt (2) 346,599 330,867 352,081 352,800 _______________________________________ (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, interest rate swap instruments, and interest rate cap instruments, standardized pricing models in which significant inputs or value drivers are observable in active markets. For bank line of credit, commercial paper, and term loans, 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, 2022 and 2021, there were no material transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
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 and their related potential impact on future earnings and cash flows. The Company does not use derivative instruments for speculative or trading purposes. At December 31, 2022, a one percentage point increase or decrease in the underlying interest rate curve would result in a corresponding increase or decrease in the fair value of the derivative instruments by approximately $23 million. In March 2021, the Company repaid $39 million of variable rate secured debt on two SHOP assets and terminated the two associated interest rate swap instruments. Therefore, at December 31, 2021, the Company had no interest rate swap instruments. In April 2021, the Company executed two interest rate cap instruments on its $142 million of variable rate mortgage debt issued in conjunction with the acquisition of the MOB Portfolio (see Note 4). In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026. In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $500 million aggregate principal amount of the 2022 Term Loan Facilities (see Note 11). The forward-starting interest rate swap instruments are designated as cash flow hedges. The following table summarizes the Company’s interest rate swap instruments (in thousands): Fair Value (1) Date Entered Maturity Date Hedge Designation Notional Amount Pay Rate Receive Rate December 31, December 31, April 2022 (2) May 2026 Cash flow $ 51,100 5.08 % 1 mo. USD-LIBOR-BBA + 2.50% $ 2,300 $ — April 2022 (2) May 2026 Cash flow 91,000 4.63 % 1 mo. USD-LIBOR-BBA + 2.05% 4,096 — August 2022 (2) February 2027 Cash flow 250,000 2.60 % 1 mo. USD-SOFR CME Term 11,299 — August 2022 (2) August 2027 Cash flow 250,000 2.54 % 1 mo. USD-SOFR CME Term 12,564 — _____________________________ (1) At December 31, 2022, the interest rate swap instruments were in an asset position. Derivative assets are recorded in other assets, net on the Consolidated Balance Sheets. (2) Represents interest rate swap instruments that hedge fluctuations in interest payments on variable rate debt by converting the interest rates to fixed interest rates. The changes in fair value of designated derivatives that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The following table summarizes the Company’s interest rate cap instruments (in thousands): Fair Value (1) Date Entered Maturity Date Hedge Designation Notional Amount Strike Rate Index December 31, December 31, April 2021 (2) May 2024 Non-designated $ 142,100 2.00 % 1 mo. USD-LIBOR-BBA $ — $ 397 _____________________________ (1) At December 31, 2021, the interest rate cap instruments were in an asset position. Derivative assets are recorded in other assets, net on the Consolidated Balance Sheets. (2) Represents two interest rate cap instruments that manage the Company’s exposure to variable cash flows on certain mortgage debt borrowings by limiting interest rates. These interest rate cap instruments were terminated in April 2022. During the year ended December 31, 2022, the Company recognized a $2 million increase in the fair value of the interest rate cap instruments within other income (expense), net.

Accounts Payable, Accrued Liabi

Accounts Payable, Accrued Liabilities, and Other Liabilities	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Refundable entrance fees $ 268,972 $ 288,409 Accrued construction costs 178,626 179,995 Accrued interest 59,291 59,342 Other accounts payable and accrued liabilities 265,596 227,638 Accounts payable, accrued liabilities, and other liabilities $ 772,485 $ 755,384

Deferred Revenue

Deferred Revenue	12 Months Ended
	Dec. 31, 2022
Revenues [Abstract]
Deferred Revenue	Deferred Revenue The following table summarizes the Company’s deferred revenue, excluding deferred revenue related to assets classified as held for sale and discontinued operations (in thousands): December 31, 2022 2021 Nonrefundable entrance fees (1) $ 518,573 $ 496,478 Other deferred revenue (2) 325,503 292,729 Deferred revenue $ 844,076 $ 789,207 _______________________________________ (1) During the years ended December 31, 2022 and 2021, the Company collected nonrefundable entrance fees of $101 million and $89 million, respectively. During the years ended December 31, 2022, 2021, and 2020, the Company recognized amortization of $79 million, $76 million, and $72 million, respectively, which is included within resident fees and services on the Consolidated Statements of Operations. (2) Other deferred revenue is primarily comprised of prepaid rent, deferred rent, and tenant-funded tenant improvements owned by the Company. During the years ended December 31, 2022, 2021, and 2020, the Company recognized amortization related to other deferred revenue of $44 million, $39 million, and $33 million, respectively, which is included in rental and related revenues on the Consolidated Statements of Operations.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2022
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, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended 2022 March 31 June 30 September 30 December 31 Total revenues $ 498,372 $ 517,932 $ 520,406 $ 524,468 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 73,719 68,201 355,775 9,435 Income (loss) from continuing operations 75,026 69,301 359,284 9,929 Income (loss) from discontinued operations 317 2,992 (1,298) 873 Net income (loss) 75,343 72,293 357,986 10,802 Net income (loss) applicable to Healthpeak Properties, Inc. 71,613 68,338 353,970 6,528 Dividends paid per common share 0.30 0.30 0.30 0.30 Basic earnings (loss) per common share: Continuing operations 0.13 0.12 0.66 0.01 Discontinued operations 0.00 0.01 0.00 0.00 Diluted earnings (loss) per common share: Continuing operations 0.13 0.12 0.65 0.01 Discontinued operations 0.00 0.01 0.00 0.00 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

Schedule II_ Valuation and Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
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: 2022 $ 1,870 $ 529 $ — $ — $ 2,399 2021 3,994 — — (2,124) 1,870 2020 387 76 3,531 — 3,994 Discontinued operations: 2022 $ 4,138 $ — $ — $ (4,138) $ — 2021 5,873 46 — (1,781) 4,138 2020 4,178 1,026 175 494 5,873 _______________________________________ (1) Includes allowance for doubtful accounts. Excludes reserves for loan losses which are disclosed in Note 8 to the Consolidated Financial Statements. (2) Primarily includes the write-off of uncollectible accounts, dispositions, and other net reductions in the reserves.

Schedule III_ Real Estate and A

Schedule III: Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
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, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) Life science 1483 Brisbane CA $ — $ 8,498 $ 500 $ 79,187 $ 8,498 $ 79,687 $ 88,185 $ (2,999) 2022 2007 1484 Brisbane CA — 11,331 689 164,388 11,331 165,077 176,408 (4,493) 2022 2007 1485 Brisbane CA — 11,331 600 154,403 11,331 155,003 166,334 (5,015) 2022 2007 1486 Brisbane CA — 11,331 — 135,429 11,331 135,429 146,760 (16,899) 2020 2007 1487 Brisbane CA — 8,498 — 76,375 8,498 76,375 84,873 (4,497) 2020 2007 2874 Brisbane CA — 26,895 62,318 54,909 26,895 115,580 142,475 (8,023) 1989 2019 2875 Brisbane CA — 24,092 56,623 7,910 24,092 63,177 87,269 (8,006) 2000 2019 3139 Brisbane CA — 35,805 — 3,899 35,805 3,899 39,704 — — 2019 3140 Brisbane CA — 35,805 — 1,202 35,805 1,202 37,007 — — 2019 3142 Brisbane CA — — — 31 — 31 31 — — 2007 1401 Hayward CA — 900 7,100 13,215 1,338 19,023 20,361 (4,187) 1996 2007 1402 Hayward CA — 1,500 6,400 4,605 1,719 7,111 8,830 (2,531) 1999 2007 1403 Hayward CA — 1,900 7,100 11,768 1,900 15,011 16,911 (4,783) 1998 2007 1404 Hayward CA — 2,200 17,200 8,244 2,200 25,444 27,644 (8,642) 1999 2007 1405 Hayward CA — 1,000 3,200 8,110 1,000 3,837 4,837 (1,448) 1999 2007 1549 Hayward CA — 1,006 4,259 6,919 1,055 8,699 9,754 (3,999) 1996 2007 1550 Hayward CA — 677 2,761 5,837 710 3,057 3,767 (2,006) 1996 2007 1551 Hayward CA — 661 1,995 7,358 693 5,134 5,827 (1,622) 1996 2007 1552 Hayward CA — 1,187 7,139 2,543 1,222 8,539 9,761 (5,059) 1996 2007 1553 Hayward CA — 1,189 9,465 7,361 1,225 16,230 17,455 (11,160) 1996 2007 1554 Hayward CA — 1,246 5,179 13,699 1,283 17,080 18,363 (4,905) 1996 2007 1555 Hayward CA — 1,521 13,546 7,541 1,566 20,982 22,548 (13,061) 1996 2007 1556 Hayward CA — 1,212 5,120 4,726 1,249 6,856 8,105 (4,254) 1996 2007 1424 La Jolla CA — 11,175 25,283 43,545 11,437 63,093 74,530 (12,454) 1982 2007 1425 La Jolla CA — 7,217 19,883 1,661 7,293 19,868 27,161 (7,690) 1981 2007 1426 La Jolla CA — 8,381 12,412 14,403 8,467 23,364 31,831 (13,475) 1984 2007 1427 La Jolla CA — 10,127 16,983 11,292 10,194 23,732 33,926 (10,055) 1982 2007 1949 La Jolla CA — 2,686 11,045 18,084 2,686 28,594 31,280 (6,677) 2021 2011 2229 La Jolla CA — 8,753 32,528 11,785 8,777 42,931 51,708 (12,222) 1986/2009 2014 1470 Poway CA — 5,826 12,200 6,048 5,826 12,541 18,367 (4,778) 2005 2007 1471 Poway CA — 5,978 14,200 4,253 5,978 14,200 20,178 (5,473) 2005 2007 1472 Poway CA — 8,654 — 11,895 8,654 11,895 20,549 (3,317) 2014 2007 1473 Poway CA — 11,024 2,405 26,187 11,024 27,857 38,881 (9,213) 2019 2007 1474 Poway CA — 5,051 — 19,939 5,051 19,939 24,990 (5,082) 2019 2007 1475 Poway CA — 5,655 — 10,302 5,655 10,302 15,957 (579) 2020 2007 1478 Poway CA — 6,700 14,400 6,145 6,700 14,400 21,100 (5,550) 2002 2007 1499 Redwood City CA — 3,400 5,500 3,333 3,462 7,152 10,614 (3,330) 1989 2007 1500 Redwood City CA — 2,500 4,100 1,703 2,506 5,041 7,547 (2,282) 1989 2007 1501 Redwood City CA — 3,600 4,600 2,328 3,607 6,485 10,092 (2,880) 1989 2007 1502 Redwood City CA — 3,100 5,100 1,471 3,107 6,200 9,307 (2,975) 1989 2007 1503 Redwood City CA — 4,800 17,300 10,044 4,818 25,558 30,376 (8,153) 1989 2007 1504 Redwood City CA — 5,400 15,500 11,996 5,418 27,461 32,879 (10,558) 1989 2007 1505 Redwood City CA — 3,000 3,500 5,773 3,006 8,798 11,804 (2,733) 1988 2007 1506 Redwood City CA — 6,000 14,300 14,929 6,018 28,586 34,604 (14,015) 1988 2007 1507 Redwood City CA — 1,900 12,800 17,383 1,912 23,468 25,380 (7,016) 1988/2011 2007 1508 Redwood City CA — 2,700 11,300 22,756 2,712 28,481 31,193 (7,902) 1988/2011 2007 1509 Redwood City CA — 2,700 10,900 10,493 2,712 14,012 16,724 (6,191) 1988 2007 1510 Redwood City CA — 2,200 12,000 11,009 2,212 18,794 21,006 (7,038) 1988 2007 1511 Redwood City CA — 2,600 9,300 21,497 2,612 30,166 32,778 (8,789) 1988 2007 1512 Redwood City CA — 3,300 18,000 19,100 3,300 37,072 40,372 (16,498) 2000 2007 1513 Redwood City CA — 3,300 17,900 15,954 3,326 29,933 33,259 (15,150) 2000 2007 678 San Diego CA — 2,603 11,051 3,514 2,766 14,402 17,168 (6,496) 1997 2004 679 San Diego CA — 5,269 23,566 31,885 5,669 51,751 57,420 (20,933) 1997 2004 837 San Diego CA — 4,630 2,028 9,262 4,630 5,330 9,960 (2,204) 1988/2012 2006 838 San Diego CA — 2,040 903 5,266 2,040 4,215 6,255 (1,210) 1988/2012 2006 839 San Diego CA — 3,940 3,184 7,320 4,046 5,951 9,997 (2,162) 1987 2006 840 San Diego CA — 5,690 4,579 1,114 5,830 5,126 10,956 (2,420) 1987 2006 1418 San Diego CA — 11,700 31,243 65,364 11,700 90,225 101,925 (12,855) 2022 2007 1419 San Diego CA — 2,324 — 33,097 2,324 33,097 35,421 (1,052) 2022 2007 1420 San Diego CA — 4,200 — 41,041 4,200 41,041 45,241 (839) 2022 2007 1421 San Diego CA — 7,000 33,779 1,209 7,000 33,779 40,779 (13,019) 2000 2007 1422 San Diego CA — 7,179 3,687 6,004 7,336 9,491 16,827 (5,542) 1984 2007 1423 San Diego CA — 8,400 33,144 32,248 8,400 65,384 73,784 (17,763) 2002/2020 2007 1558 San Diego CA — 7,740 22,654 79,394 7,888 98,330 106,218 (22,683) — 2007 1947 San Diego CA — 2,581 10,534 4,484 2,581 15,019 17,600 (7,054) 2000 2011 1948 San Diego CA — 5,879 25,305 10,121 5,879 33,121 39,000 (11,270) 2001 2011 2197 San Diego CA — 7,621 3,913 8,763 7,626 11,375 19,001 (6,034) 1984 2007 2476 San Diego CA — 7,661 9,918 13,892 7,661 23,811 31,472 (2,551) 2000/2002 2016 2477 San Diego CA — 9,207 14,613 6,762 9,207 21,374 30,581 (6,135) 2000/2001 2016 2478 San Diego CA — 6,000 — 76,774 6,000 76,774 82,774 — — 2016 2617 San Diego CA — 2,734 5,195 16,713 2,734 21,908 24,642 (8,204) 1991/2020 2017 2618 San Diego CA — 4,100 12,395 22,843 4,100 35,238 39,338 (8,884) 1991/2020 2017 2622 San Diego CA — — — 17,147 — 17,147 17,147 (1,225) 2020 2004 2872 San Diego CA — 10,120 38,351 1,044 10,120 39,996 50,116 (6,958) 1995 2018 2873 San Diego CA — 6,052 14,122 2,060 6,052 16,319 22,371 (2,853) 1997 2018 Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) 3069 San Diego CA — 7,054 7,794 19,627 7,054 27,083 34,137 (2,174) 2007/2021 2019 3110 San Diego CA — 20,584 — 2,765 20,584 2,765 23,349 — — 2021 3111 San Diego CA — 24,830 — 729 24,830 729 25,559 (2) — 2022 1410 South San Francisco CA — 4,900 18,100 13,022 4,900 30,312 35,212 (12,654) 2000/2019 2007 1411 South San Francisco CA — 8,000 27,700 38,753 8,000 60,871 68,871 (15,218) 2003/2019 2007 1412 South San Francisco CA — 10,100 22,521 11,660 10,100 32,039 42,139 (10,276) 1999 2007 1413 South San Francisco CA — 8,000 28,299 8,862 8,000 36,694 44,694 (15,735) 2000 2007 1430 South San Francisco CA — 10,700 23,621 29,985 10,700 51,141 61,841 (11,846) 1998/2019 2007 1431 South San Francisco CA — 7,000 15,500 9,733 7,000 25,172 32,172 (9,179) 2001 2007 1435 South San Francisco CA — 13,800 42,500 37,106 13,800 79,606 93,406 (33,867) 2008/2010 2007 1436 South San Francisco CA — 14,500 45,300 36,935 14,500 82,235 96,735 (34,174) 2008/2010 2007 1437 South San Francisco CA — 9,400 24,800 51,679 9,400 65,208 74,608 (24,038) 2008/2010 2007 1439 South San Francisco CA — 11,900 68,848 600 11,900 69,417 81,317 (26,546) 2003 2007 1440 South San Francisco CA — 10,000 57,954 400 10,000 58,355 68,355 (22,413) 2003 2007 1441 South San Francisco CA — 9,300 43,549 8 9,300 43,557 52,857 (16,790) 2003 2007 1442 South San Francisco CA — 11,000 47,289 41,919 11,000 89,119 100,119 (17,042) 2023 2007 1443 South San Francisco CA — 13,200 60,932 5,039 13,200 64,716 77,916 (23,882) 2007 2007 1444 South San Francisco CA — 10,500 33,776 1,260 10,500 34,698 45,198 (13,182) 2003 2007 1445 South San Francisco CA — 10,600 34,083 9 10,600 34,092 44,692 (13,142) 2003 2007 1458 South San Francisco CA — 10,900 20,900 13,870 10,909 26,479 37,388 (8,628) 2005 2007 1459 South San Francisco CA — 9,800 400 112,695 9,800 112,701 122,501 — — 2007 1462 South San Francisco CA — 7,117 600 5,887 7,117 4,701 11,818 (1,617) 1984/2012 2007 1463 South San Francisco CA — 10,381 2,300 21,954 10,381 21,706 32,087 (7,573) 1979/2012 2007 1464 South San Francisco CA — 7,403 700 11,638 7,403 7,987 15,390 (2,436) 1965/2012 2007 1468 South San Francisco CA — 10,100 24,013 15,981 10,100 36,238 46,338 (13,306) 2006 2007 1480 South San Francisco CA — 32,210 3,110 159,459 32,210 162,569 194,779 — — 2007 1559 South San Francisco CA — 5,666 5,773 12,970 5,695 5,904 11,599 (5,915) 1968 2007 1560 South San Francisco CA — 1,204 1,293 2,888 1,210 3,970 5,180 (2,567) 1966 2007 1983 South San Francisco CA — 8,648 — 97,191 8,648 97,191 105,839 (29,837) 2016 2011 1984 South San Francisco CA — 7,845 — 93,647 7,844 93,223 101,067 (26,859) 2017 2011 1985 South San Francisco CA — 6,708 — 122,646 6,708 122,646 129,354 (31,230) 2017 2011 1986 South San Francisco CA — 6,708 — 120,349 6,708 120,306 127,014 (25,127) 2018 2011 1987 South San Francisco CA — 8,544 — 100,777 8,544 100,777 109,321 (18,788) 2019 2011 1988 South San Francisco CA — 10,120 — 120,282 10,120 120,282 130,402 (23,861) 2019 2011 1989 South San Francisco CA — 9,169 — 100,232 9,169 100,232 109,401 (13,686) 2020 2011 2553 South San Francisco CA — 2,897 8,691 4,951 2,897 13,642 16,539 (3,983) 1988 2015 2554 South San Francisco CA — 995 2,754 3,076 995 5,110 6,105 (1,047) 1988 2015 2555 South San Francisco CA — 2,202 10,776 2,200 2,202 12,909 15,111 (2,746) 1988 2015 2556 South San Francisco CA — 2,962 15,108 1,500 2,962 16,607 19,569 (3,475) 1988 2015 2557 South San Francisco CA — 2,453 13,063 3,616 2,453 16,679 19,132 (4,956) 1988 2015 2558 South San Francisco CA — 1,163 5,925 315 1,163 6,240 7,403 (1,250) 1988 2015 2624 South San Francisco CA — 25,502 42,910 13,847 25,502 55,604 81,106 (11,129) 2001 2017 2870 South San Francisco CA — 23,297 41,797 28,766 23,297 70,563 93,860 (12,994) 1996/2019 2018 2871 South San Francisco CA — 20,293 41,262 22,011 20,293 63,273 83,566 (15,166) 1999/2019 2018 3100 South San Francisco CA — 24,059 — 1,867 24,059 1,867 25,926 — — 2021 3101 South San Francisco CA — 61,208 — 6,548 61,208 6,548 67,756 — — 2021 3102 South San Francisco CA — 43,885 — 1,343 43,885 1,343 45,228 — — 2021 3123 South San Francisco CA — — — 6,412 — 6,412 6,412 — — 2007 2705 Cambridge MA — 24,371 128,498 78 24,371 128,577 152,948 (8,966) 2011 2020 2706 Cambridge MA — 15,473 149,051 8 15,473 149,059 164,532 (11,386) 2019 2020 2707 Cambridge MA — 25,549 229,547 8,698 25,549 238,245 263,794 (16,198) 2019 2020 2708 Cambridge MA — — 17,751 398 — 18,149 18,149 (946) 2010 2020 2709 Cambridge MA — — 15,451 17 — 15,468 15,468 (805) 2019 2020 2928 Cambridge MA — 44,215 24,120 4,099 44,215 26,989 71,204 (2,845) 1984 2019 2929 Cambridge MA — 20,517 — 153,005 20,517 153,005 173,522 (936) 2022 2019 3074 Cambridge MA — 78,762 252,153 8,946 78,762 261,099 339,861 (24,413) 2018 2019 3106 Cambridge MA — 20,644 2,982 432 20,644 3,415 24,059 (136) 1950 2021 3107 Cambridge MA — 19,009 12,327 — 19,009 12,327 31,336 (481) 1973 2021 3108 Cambridge MA — 123,074 7,513 — 123,074 7,513 130,587 (388) 1965 2021 3109 Cambridge MA — 5,903 — 110 5,903 110 6,013 — — 2021 3112 Cambridge MA — 23,402 47,623 96 23,402 47,719 71,121 (2,194) 1985 2021 3113 Cambridge MA — 36,093 — 1,453 36,093 1,453 37,546 — — 2021 3114 Cambridge MA — 22,969 — (2,115) 22,969 (2,115) 20,854 — — 2021 3115 Cambridge MA — 66,786 — 545 66,786 545 67,331 — — 2021 3116 Cambridge MA — — — 3,642 — 3,642 3,642 — — 2021 3119 Cambridge MA — — 29,667 — — 29,667 29,667 (1,099) 2021 2021 3120 Cambridge MA — 18,063 — 224 18,063 224 18,287 — — 2021 3122 Cambridge MA — 25,247 — 1,000 25,247 1,000 26,247 — — 2021 3136 Cambridge MA — 4,119 — (164) 4,119 (164) 3,955 — — 2021 3137 Cambridge MA — 41,327 — 1,212 41,327 1,212 42,539 — — 2021 3141 Cambridge MA — 72,768 — 2,499 72,768 2,499 75,267 — — 2022 3151 Cambridge MA — 8,555 — 3 8,555 3 8,558 — — 2022 3148 Cambridge MA — 2,283 — 1 2,283 1 2,284 — — 2022 3149 Cambridge MA — 5,705 — 2 5,705 2 5,707 — — 2022 3150 Cambridge MA — 1,655 — — 1,655 — 1,655 — — 2022 2630 Lexington MA — 16,411 49,681 670 16,411 50,351 66,762 (11,807) 1999 2017 2631 Lexington MA — 7,759 142,081 25,479 7,759 162,079 169,838 (21,202) 2010 2017 2632 Lexington MA — — 21,390 125,363 — 146,246 146,246 (11,999) 2021 2018 3070 Lexington MA — 14,013 17,083 37 14,013 16,814 30,827 (1,958) 1974/2012 2019 3071 Lexington MA — 14,930 16,677 229 14,930 16,151 31,081 (1,705) 1970/2012 2019 3072 Lexington MA — 34,598 43,032 — 34,598 42,744 77,342 (5,838) 1967/2013 2019 3073 Lexington MA — 37,050 44,647 94 37,050 44,741 81,791 (6,223) 2017 2019 Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) 3093 Waltham MA — 47,792 275,556 18,648 47,792 292,545 340,337 (26,840) 2018 2020 2011 Durham NC — 448 6,152 23,847 448 24,341 24,789 (7,054) 1955/2014 2011 2030 Durham NC — 1,920 5,661 34,811 1,926 40,465 42,391 (15,772) 1926/2013 2012 9999 Denton TX — 100 — 72 100 — 100 — — 2016 464 Salt Lake City UT — 630 6,921 2,562 630 9,484 10,114 (5,364) 1996 2001 465 Salt Lake City UT — 125 6,368 68 125 6,436 6,561 (3,119) 1999 2001 466 Salt Lake City UT — — 14,614 73 — 13,213 13,213 (5,041) 2002 2001 1593 Salt Lake City UT — — 23,998 250 — 24,248 24,248 (9,033) 2010 2010 $ — $ 1,933,254 $ 3,273,282 $ 3,567,689 $ 1,936,126 $ 6,623,610 $ 8,559,736 $ (1,274,094) Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) Medical office 638 Anchorage AK $ — $ 1,456 $ 10,650 $ 13,956 $ 1,456 $ 21,328 $ 22,784 $ (8,842) 1993/2014 2006 3026 Bentonville AR — 912 21,724 789 912 22,513 23,425 (721) 2003 2022 126 Sherwood AR — 709 9,604 — 709 9,599 10,308 (6,679) 1990 1989 2572 Springdale AR — — 27,714 — — 27,714 27,714 (5,497) 1995 2016 520 Chandler AZ — 3,669 13,503 7,742 3,799 19,368 23,167 (8,497) 2005 2002 113 Glendale AZ — 1,565 7,050 20 1,565 7,225 8,790 (5,143) 1989 1988 2040 Mesa AZ — — 17,314 2,213 — 18,542 18,542 (4,785) 2007 2012 1066 Scottsdale AZ — 5,115 14,064 8,648 4,839 20,196 25,035 (7,540) 1999 2006 2021 Scottsdale AZ — — 12,312 7,551 — 16,283 16,283 (6,312) 1984 2012 2022 Scottsdale AZ — — 9,179 4,439 — 10,543 10,543 (3,868) 1996 2012 2023 Scottsdale AZ — — 6,398 2,515 — 7,733 7,733 (3,561) 2000 2012 2024 Scottsdale AZ — — 9,522 2,015 32 10,747 10,779 (4,251) 2007 2012 2025 Scottsdale AZ — — 4,102 3,398 — 6,025 6,025 (2,625) 1981 2012 2026 Scottsdale AZ — — 3,655 2,336 — 5,565 5,565 (2,535) 1992 2012 2027 Scottsdale AZ — — 7,168 3,478 — 9,548 9,548 (4,336) 1995 2012 2028 Scottsdale AZ — — 6,659 5,595 — 11,497 11,497 (4,607) 1998 2012 2696 Scottsdale AZ — 10,151 14,925 3,286 10,211 18,143 28,354 (3,515) 1998 2020 1041 Brentwood CA — — 30,864 10,983 309 39,668 39,977 (13,503) 2004 2006 1200 Encino CA — 6,151 10,438 8,821 6,756 15,764 22,520 (7,208) 1973 2006 1038 Fresno CA — 3,652 29,113 21,935 3,652 51,048 54,700 (22,480) 1984 2006 436 Murrieta CA — 400 9,266 5,940 749 12,380 13,129 (8,054) 1991 1999 239 Poway CA — 2,700 10,839 6,467 3,104 13,511 16,615 (8,750) 1990 1997 2654 Riverside CA — 2,758 9,908 1,127 2,758 10,801 13,559 (2,230) 2008 2017 318 Sacramento CA — 2,860 37,566 28,181 2,911 63,560 66,471 (25,031) 1989/2016 1998 2404 Sacramento CA — 1,268 5,109 1,363 1,299 6,123 7,422 (2,229) 1999 2015 421 San Diego CA — 2,910 19,984 16,469 2,964 35,070 38,034 (16,109) 1986/2013 1999 564 San Jose CA — 1,935 1,728 4,000 1,935 3,686 5,621 (1,625) 1968 2003 565 San Jose CA — 1,460 7,672 2,654 1,460 9,770 11,230 (4,238) 1995 2003 659 Los Gatos CA — 1,718 3,124 1,660 1,796 4,255 6,051 (1,779) 1995 2006 439 Valencia CA — 2,300 6,967 5,392 2,404 10,017 12,421 (6,125) 1990 1999 440 West Hills CA — 2,100 11,595 13,695 2,259 20,297 22,556 (7,779) 1992 1999 3008 West Hills CA 12,052 5,795 13,933 2,496 5,823 16,150 21,973 (1,003) 1965 2021 728 Aurora CO — — 8,764 5,727 — 10,715 10,715 (4,438) 2005 2005 1196 Aurora CO — 210 12,362 8,005 210 18,842 19,052 (7,645) 1981/2018 2006 1197 Aurora CO — 200 8,414 7,401 285 14,358 14,643 (6,212) 1994/2018 2006 127 Colorado Springs CO — 690 8,338 — 690 8,415 9,105 (5,875) 1990 1989 882 Colorado Springs CO — — 12,933 12,891 — 21,513 21,513 (9,563) 2007 2006 1199 Denver CO — 493 7,897 2,793 668 9,510 10,178 (4,793) 1993 2006 808 Englewood CO — — 8,616 13,388 11 18,442 18,453 (9,524) 1981 2005 809 Englewood CO — — 8,449 16,776 — 22,237 22,237 (6,059) 1990 2005 810 Englewood CO — — 8,040 14,877 — 18,697 18,697 (8,707) 1989 2005 811 Englewood CO — — 8,472 15,163 — 20,604 20,604 (8,681) 1993/2020 2005 2658 Highlands Ranch CO — 1,637 10,063 94 1,732 10,063 11,795 (1,937) 2015 2017 812 Littleton CO — — 4,562 3,997 257 6,482 6,739 (3,095) 1987 2005 813 Littleton CO — — 4,926 3,286 251 6,324 6,575 (2,737) 1990 2005 570 Lone Tree CO — — — 23,999 — 21,884 21,884 (9,404) 2004 2003 666 Lone Tree CO — — 23,274 5,888 17 26,446 26,463 (11,638) 2003 2006 2233 Lone Tree CO — — 6,734 33,848 — 39,973 39,973 (13,804) 2015 2014 3000 Lone Tree CO — 4,393 31,643 6,135 4,393 37,778 42,171 (2,007) 2020 2021 510 Thornton CO — 236 10,206 15,580 463 22,963 23,426 (6,726) 2001/2021 2002 434 Atlantis FL — — 2,027 552 5 2,324 2,329 (1,518) 1997 1999 435 Atlantis FL — — 2,000 1,332 — 2,659 2,659 (1,733) 1997 1999 602 Atlantis FL — 455 2,231 1,561 455 3,225 3,680 (1,431) 1984 2006 2963 Brooksville FL — — — 11,490 — 11,490 11,490 (913) 2020 2019 604 Englewood FL — 170 1,134 1,194 226 1,868 2,094 (734) 1986 2006 2962 Orange Park FL — — — 16,983 — 16,983 16,983 (601) 2022 2019 609 Kissimmee FL — 788 174 1,246 788 1,239 2,027 (556) 1978 2006 610 Kissimmee FL — 481 347 904 494 628 1,122 (344) 1978 2006 671 Kissimmee FL — — 7,574 2,904 — 8,247 8,247 (3,755) 1998 2006 603 Lake Worth FL — 1,507 2,894 1,807 1,507 2,868 4,375 (1,374) 1997 2006 612 Margate FL — 1,553 6,898 3,585 1,553 9,421 10,974 (4,219) 1994 2006 613 Miami FL — 4,392 11,841 15,281 4,454 22,922 27,376 (7,410) 1995/2020 2006 2202 Miami FL — — 13,123 11,991 — 24,034 24,034 (8,801) 1973 2014 2203 Miami FL — — 8,877 5,205 — 13,597 13,597 (4,813) 1986 2014 1067 Milton FL — — 8,566 1,361 — 9,813 9,813 (3,687) 2003 2006 2577 Naples FL — — 29,186 1,805 — 30,991 30,991 (5,884) 1999 2016 2578 Naples FL — — 18,819 667 — 19,486 19,486 (3,147) 2007 2016 2964 Okeechobee FL — — — 16,751 — 16,751 16,751 (455) 2022 2019 563 Orlando FL — 2,144 5,136 16,761 12,033 7,591 19,624 (6,377) 1985 2003 833 Pace FL — — 10,309 4,179 54 11,533 11,587 (4,306) 2005 2006 834 Pensacola FL — — 11,166 669 — 11,358 11,358 (4,237) 2005 2006 673 Plantation FL — 1,091 7,176 3,269 1,091 9,368 10,459 (4,023) 2001 2006 674 Plantation FL — — 8,273 572 — 8,845 8,845 (570) 2015 2021 2579 Punta Gorda FL — — 9,379 — — 9,379 9,379 (1,678) 2006 2016 2833 St. Petersburg FL — — 13,754 15,843 — 23,467 23,467 (8,651) 1995/2019 2006 2836 Tampa FL — 1,967 6,618 9,533 2,700 10,719 13,419 (6,475) 1984 2006 887 Atlanta GA — 4,300 13,690 — 4,300 11,890 16,190 (9,413) 1966/1996 2007 3214 Savannah GA — — — 867 — 867 867 — — 2022 2576 Statesboro GA — — 10,234 439 — 10,673 10,673 (2,542) 1999 2016 3006 Arlington Heights IL 4,845 3,011 9,651 591 3,187 10,021 13,208 (759) 1975/2013 2021 2702 Bolingbrook IL — — 21,237 1,910 — 23,055 23,055 (1,855) 2008 2020 Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) 3004 Highland Park IL 5,834 2,767 11,495 217 2,767 11,674 14,441 (742) 2008 2021 3005 Lockport IL 10,976 3,106 22,645 — 3,106 22,645 25,751 (1,410) 2010 2021 1065 Marion IL — 99 11,538 2,322 100 13,375 13,475 (5,541) 2002 2006 2719 Marion IL — — — 5,098 — 5,098 5,098 (221) 2021 2021 2697 Indianapolis IN — — 59,746 697 — 60,364 60,364 (3,979) 2002 2020 2699 Indianapolis IN — — 23,211 711 — 23,921 23,921 (1,586) 2002 2020 2701 Indianapolis IN — 478 1,637 136 478 1,749 2,227 (501) 1984 2020 2698 Mooresville IN — — 20,646 653 — 21,292 21,292 (1,407) 2004 2020 1057 Newburgh IN — — 14,019 5,381 — 19,250 19,250 (9,128) 2005 2006 2700 Zionsville IN — 2,969 7,281 809 3,040 7,998 11,038 (757) 2005 2020 2039 Kansas City KS — 440 2,173 316 448 2,436 2,884 (658) 2006 2012 112 Overland Park KS — 2,316 10,681 24 2,316 10,797 13,113 (7,924) 1989 1988 2043 Overland Park KS — — 7,668 2,354 — 9,290 9,290 (2,692) 2009 2012 3062 Overland Park KS — 872 11,813 526 978 11,811 12,789 (2,053) 2007 2019 483 Wichita KS — 530 3,341 788 605 3,510 4,115 (1,645) 2000 2001 3018 Wichita KS — 3,946 39,795 — 3,946 39,795 43,741 (2,305) 1973/2017 2021 1064 Lexington KY — — 12,726 2,837 — 14,648 14,648 (6,224) 2003 2006 735 Louisville KY — 936 8,426 18,960 936 23,542 24,478 (13,083) 1971/2019 2005 737 Louisville KY — 835 27,627 11,636 878 35,899 36,777 (16,797) 2002 2005 738 Louisville KY — 780 8,582 8,694 851 13,331 14,182 (10,083) 1978 2005 739 Louisville KY — 826 13,814 4,003 832 16,046 16,878 (6,911) 2003 2005 2834 Louisville KY — 2,983 13,171 8,866 2,991 18,816 21,807 (10,006) 1990 2005 1945 Louisville KY — 3,255 28,644 3,092 3,365 30,902 34,267 (12,422) 2009 2010 1946 Louisville KY — 430 6,125 276 430 6,401 6,831 (2,587) 2002 2010 2237 Louisville KY — 1,519 15,386 5,450 1,672 20,351 22,023 (7,139) 1991 2014 2238 Louisville KY — 1,334 12,172 3,627 1,558 14,624 16,182 (4,921) 1996 2014 2239 Louisville KY — 1,644 10,832 6,912 2,091 16,272 18,363 (6,510) 1988 2014 3023 Covington LA — 9,490 21,918 94 9,490 22,012 31,502 (1,204) 2014 2021 3121 Cambridge MA — 40,663 23,102 — 40,663 23,102 63,765 (956) 1983 2021 1213 Ellicott City MD — 1,115 3,206 4,960 1,463 6,257 7,720 (2,884) 1988 2006 1052 Towson MD — — 14,233 5,579 — 14,435 14,435 (5,538) 2005 2006 2650 Biddeford ME — 1,341 17,376 107 1,341 17,483 18,824 (3,524) 2007 2017 3002 Burnsville MN 7,713 2,801 17,779 892 2,861 18,611 21,472 (2,148) 1988 2021 3003 Burnsville MN 5,142 516 13,200 452 533 13,382 13,915 (1,374) 1992 2021 3009 Burnsville MN 18,985 4,640 38,064 40 4,664 38,080 42,744 (2,488) 2007 2021 240 Minneapolis MN — 117 13,213 7,285 117 18,442 18,559 (11,143) 1986 1997 300 Minneapolis MN — 160 10,131 6,920 214 14,342 14,556 (8,692) 1987 1998 2703 Columbia MO — 4,141 20,364 — 4,141 20,364 24,505 (1,845) 1997 2020 2032 Independence MO — — 48,025 3,539 — 50,173 50,173 (12,403) 2006 2012 2863 Lee's Summit MO — — — 16,454 — 16,454 16,454 (1,822) 2020 2019 1078 Flowood MS — — 8,413 2,177 — 9,902 9,902 (3,723) 2003 2006 1059 Jackson MS — — 8,868 692 — 9,523 9,523 (3,776) 2002 2006 1060 Jackson MS — — 7,187 3,022 — 9,131 9,131 (3,500) 2005 2006 1068 Omaha NE — — 16,243 3,023 41 18,491 18,532 (7,563) 2005 2006 2651 Charlotte NC — 1,032 6,196 204 1,032 6,295 7,327 (992) 2007 2017 2695 Charlotte NC — 844 5,021 76 844 5,060 5,904 (781) 2007 2017 2655 Wilmington NC — 1,949 12,244 — 1,949 12,244 14,193 (2,291) 2003 2017 2656 Wilmington NC — 2,071 11,592 — 2,071 11,592 13,663 (2,146) 2006 2017 2657 Shallotte NC — 918 3,609 — 918 3,609 4,527 (921) 2017 2017 2647 Concord NH — 1,961 23,516 556 1,961 22,721 24,682 (2,953) 2004 2017 2648 Concord NH — 815 8,902 464 815 9,366 10,181 (2,106) 2008 2017 2649 Epsom NH — 919 5,868 59 919 5,303 6,222 (976) 2010 2017 3011 Cherry Hill NJ — 5,235 21,731 — 5,235 21,731 26,966 (1,685) 2014 2021 3012 Morristown NJ — 21,703 32,517 3,119 21,703 35,636 57,339 (2,476) 1983/2013 2021 3013 Morristown NJ — 14,567 20,548 6,480 14,567 27,028 41,595 (1,118) 1990 2021 3014 Morristown NJ — 20,563 31,849 1,007 20,563 32,857 53,420 (1,466) 1981 2021 729 Albuquerque NM — — 5,380 2,466 — 7,308 7,308 (2,623) 2006 2005 571 Las Vegas NV — — — 22,137 — 19,359 19,359 (8,720) 2004 2003 660 Las Vegas NV — 1,121 4,363 12,784 1,328 12,540 13,868 (4,437) 1973 2006 661 Las Vegas NV — 2,305 — 1,371 3,676 — 3,676 — — 2006 662 Las Vegas NV — 1,000 — — 1,000 — 1,000 — — 2006 663 Las Vegas NV — 1,717 3,597 15,366 1,724 15,511 17,235 (6,094) 1974/2018 2006 664 Las Vegas NV — 1,172 — 633 1,805 — 1,805 (369) — 2006 691 Las Vegas NV — 3,073 18,339 8,915 3,167 25,521 28,688 (15,113) 1989/2015 2004 2037 Mesquite NV — — 5,559 1,030 34 6,430 6,464 (1,898) 2004 2012 400 Harrison OH — — 4,561 666 — 4,927 4,927 (3,019) 1995 1999 1054 Durant OK — 619 9,256 3,301 659 12,364 13,023 (4,905) 1998 2006 817 Owasso OK — — 6,582 2,090 — 6,113 6,113 (2,535) 2006 2005 404 Roseburg OR — — 5,707 1,147 — 6,154 6,154 (3,726) 1999 1999 3010 Springfield OR 20,666 — 51,998 386 — 51,982 51,982 (3,493) 2011 2021 2570 Limerick PA — 925 20,072 51 925 19,953 20,878 (4,350) 1999 2016 2234 Philadelphia PA — 24,264 99,904 49,324 24,288 149,067 173,355 (36,719) 1973/2019 2014 2403 Philadelphia PA — 26,063 97,646 38,382 26,134 135,309 161,443 (41,809) 2000 2015 2571 Wilkes-Barre PA — — 9,138 11 — 9,149 9,149 (2,186) 2001 2016 2694 Anderson SC — 405 1,211 — 405 1,211 1,616 (251) 2012 2020 2573 Florence SC — — 12,090 91 — 12,180 12,180 (2,323) 1998 2016 2574 Florence SC — — 12,190 88 — 12,277 12,277 (2,338) 1998 2016 2575 Florence SC — — 11,243 56 — 11,299 11,299 (2,635) 1995 2016 2841 Greenville SC — 634 38,386 2,006 647 39,635 40,282 (7,332) 1991 2018 2842 Greenville SC — 794 41,293 560 794 41,058 41,852 (7,587) 1999 2018 2843 Greenville SC — 626 22,210 13 626 22,223 22,849 (4,825) 1996 2018 2844 Greenville SC — 806 18,889 948 806 19,031 19,837 (3,507) 1998 2018 Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) 2845 Greenville SC — 932 40,879 224 932 41,103 42,035 (7,874) 2005 2018 2846 Greenville SC — 896 38,486 632 896 39,118 40,014 (7,522) 2007 2018 2847 Greenville SC — 600 26,472 5,083 600 30,954 31,554 (6,219) 1996 2018 2850 Greenville SC — 211 6,503 154 211 6,656 6,867 (1,553) 2008 2018 2853 Greenville SC — 534 6,430 229 534 5,576 6,110 (1,310) 1998 2018 2854 Greenville SC — 824 13,645 109 824 13,755 14,579 (3,808) 1992 2018 2848 Greer SC — 318 5,816 — 318 5,816 6,134 (1,233) 2008 2018 2849 Greer SC — 319 5,836 98 319 5,935 6,254 (1,383) 2008 2018 2851 Travelers Rest SC — 498 1,015 202 498 1,018 1,516 (483) 1998 2018 2862 Myrtle Beach SC — — — 27,660 — 27,660 27,660 (4,213) 2019 2018 2865 Brentwood TN — — — 34,201 — 34,201 34,201 (2,397) 2020 2019 624 Hendersonville TN — 256 1,530 3,480 256 3,619 3,875 (1,738) 1985 2006 559 Hermitage TN — 830 5,036 14,514 945 17,211 18,156 (6,645) 1999/2019 2003 561 Hermitage TN — 596 9,698 9,110 596 15,414 16,010 (8,217) 1993 2003 562 Hermitage TN — 317 6,528 5,427 317 9,761 10,078 (4,751) 1994 2003 625 Nashville TN — 955 14,289 9,976 955 20,959 21,914 (8,572) 2000 2006 626 Nashville TN — 2,050 5,211 7,211 2,055 9,238 11,293 (3,819) 1987 2006 627 Nashville TN — 1,007 181 1,491 1,113 1,073 2,186 (479) 1975 2006 628 Nashville TN — 2,980 7,164 6,377 2,980 11,339 14,319 (5,081) 1988 2006 630 Nashville TN — 515 848 520 528 1,057 1,585 (508) 1975 2006 631 Nashville TN — 266 1,305 2,222 266 2,552 2,818 (1,332) 1980 2006 632 Nashville TN — 827 7,642 6,300 827 10,796 11,623 (5,441) 1988 2006 633 Nashville TN — 5,425 12,577 10,755 5,425 19,406 24,831 (9,067) 1971 2006 634 Nashville TN — 3,818 15,185 17,341 3,818 26,738 30,556 (12,093) 1992 2006 636 Nashville TN — 583 450 522 604 793 1,397 (360) 1974 2006 2967 Nashville TN — — — 47,823 — 47,823 47,823 (1,989) 2021 2019 2720 Nashville TN — 102 10,925 886 102 11,804 11,906 (1,299) 1986 2021 2611 Allen TX — 1,330 5,960 838 1,374 6,740 8,114 (1,579) 2004 2016 2612 Allen TX — 1,310 4,165 1,438 1,310 5,581 6,891 (1,469) 2005 2016 573 Arlington TX — 769 12,355 12,450 769 21,615 22,384 (7,448) 1995 2006 2621 Cedar Park TX — 1,617 11,640 809 1,617 12,450 14,067 (1,726) 2007 2017 576 Conroe TX — 324 4,842 5,202 324 8,161 8,485 (3,540) 1983 2006 577 Conroe TX — 397 7,966 4,643 397 11,334 11,731 (5,268) 1995 2006 578 Conroe TX — 388 7,975 5,687 388 10,267 10,655 (4,158) 1997/2012 2006 579 Conroe TX — 188 3,618 1,697 188 4,622 4,810 (2,231) 1995 2006 581 Corpus Christi TX — 717 8,181 8,130 717 12,331 13,048 (5,875) 1995 2006 600 Corpus Christi TX — 328 3,210 5,094 328 5,999 6,327 (3,431) 1995 2006 601 Corpus Christi TX — 313 1,771 2,463 325 3,235 3,560 (1,755) 1985 2006 2839 Cypress TX — — — 38,362 11 37,120 37,131 (11,016) 2016 2015 582 Dallas TX — 1,664 6,785 7,505 1,747 11,387 13,134 (5,185) 1979 2006 1314 Dallas TX — 15,230 162,970 30,642 24,093 183,326 207,419 (82,918) 1974 2007 1315 Dallas TX — — — 4,458 26 3,246 3,272 (1,367) 1978 2007 1316 Dallas TX — — — 11,943 — 7,925 7,925 (1,393) 1985 2007 1317 Dallas TX — — — 11,510 — 10,984 10,984 (1,645) 1995 2007 1319 Dallas TX — 18,840 155,659 7,097 18,840 162,198 181,038 (71,767) 1974 2007 2721 Dallas TX — 31,707 2,000 (2) 31,707 1,998 33,705 (1,498) 1983 2020 3007 Denton TX 5,636 2,298 9,502 97 2,338 9,559 11,897 (810) 2014 2021 3020 Frisco TX — — 27,201 704 — 27,869 27,869 (1,296) 2004 2021 3021 Frisco TX — — 26,181 1,536 — 27,698 27,698 (1,420) 2004 2021 583 Fort Worth TX — 898 4,866 5,802 898 9,131 10,029 (3,953) 1995 2006 805 Fort Worth TX — — 2,481 2,335 45 3,866 3,911 (2,364) 1985 2005 806 Fort Worth TX — — 6,070 2,454 5 7,973 7,978 (3,567) 1985 2005 2619 Fort Worth TX — 1,180 13,432 1,437 1,180 14,869 16,049 (1,703) 2006 2017 2620 Fort Worth TX — 1,961 14,155 366 2,000 14,482 16,482 (1,900) 2005 2017 2982 Fort Worth TX — 2,720 6,225 5,880 2,720 12,022 14,742 (2,236) 2020 2019 1061 Granbury TX — — 6,863 1,331 — 8,054 8,054 (3,406) 2001 2006 430 Houston TX — 1,927 33,140 24,348 2,479 52,033 54,512 (29,418) 1985/2018 1999 446 Houston TX — 2,200 19,585 25,280 2,945 32,869 35,814 (23,130) 1976/2018 1999 589 Houston TX — 1,676 12,602 20,000 1,706 27,359 29,065 (7,835) 1985/2022 2006 702 Houston TX — — 7,414 4,119 7 9,504 9,511 (4,449) 2006 2006 1044 Houston TX — — 4,838 7,140 1,321 8,737 10,058 (3,053) 2006 2006 2542 Houston TX — 304 17,764 — 304 17,764 18,068 (4,091) 1990 2015 2543 Houston TX — 116 6,555 — 116 6,439 6,555 (1,639) 1970 2015 2544 Houston TX — 312 12,094 — 312 12,094 12,406 (3,316) 1987 2015 2545 Houston TX — 316 13,931 — 316 13,931 14,247 (2,909) 2005 2015 2546 Houston TX — 408 18,332 — 408 17,925 18,333 (5,500) 1977 2015 2547 Houston TX — 470 18,197 — 470 17,727 18,197 (4,549) 1985 2015 2548 Houston TX — 313 7,036 — 313 6,724 7,037 (2,111) 1979 2015 2549 Houston TX — 530 22,711 — 530 22,711 23,241 (4,182) 2006 2015 2966 Houston TX — — — 32,920 — 32,920 32,920 (845) 2022 2020 590 Irving TX — 828 6,160 6,147 828 10,035 10,863 (4,146) 1997 2006 700 Irving TX — — 8,550 6,390 8 11,256 11,264 (4,562) 2004 2006 1207 Irving TX — 1,955 12,793 4,684 2,063 16,131 18,194 (6,119) 2001 2006 2840 Kingwood TX — 3,035 28,373 2,128 3,422 28,718 32,140 (5,586) 2003 2016 591 Lewisville TX — 561 8,043 3,043 561 9,513 10,074 (4,688) 1976 2006 144 Longview TX — 102 7,998 1,438 102 8,986 9,088 (5,450) 1993 1992 143 Lufkin TX — 338 2,383 299 338 2,602 2,940 (1,573) 1993 1992 568 McKinney TX — 541 6,217 5,260 541 9,910 10,451 (4,928) 1999 2003 569 McKinney TX — — 636 9,509 — 9,045 9,045 (4,251) 2004 2003 596 North Richland Hills TX — 812 8,883 6,238 812 12,644 13,456 (4,720) 1999 2006 2048 North Richland Hills TX — 1,385 10,213 2,364 1,400 12,034 13,434 (5,092) 2007 2012 2835 Pearland TX — — 4,014 5,707 29 7,866 7,895 (3,010) 2006 2006 Encumbrances at December 31, 2022 Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried Accumulated Depreciation (4) Year Constructed (5) Year Acquired City State Land (1) Buildings and Improvements (2) Land Buildings and Improvements Total (3) 2838 Pearland TX — — — 19,978 — 18,768 18,768 (4,996) 2015 2014 597 Plano TX — 1,210 9,588 10,042 1,225 17,340 18,565 (7,412) 1997 2006 672 Plano TX — 1,389 12,768 5,783 1,389 15,701 17,090 (6,542) 2004 2006 1384 Plano TX — 6,290 22,686 6,702 6,290 29,197 35,487 (22,652) 1997 2007 2653 Rockwall TX — 788 9,020 39 788 9,026 9,814 (1,533) 2015 2017 815 San Antonio TX — — 9,193 4,303 87 12,038 12,125 (5,744) 1997 2006 816 San Antonio TX 1,902 — 8,699 14,749 175 21,625 21,800 (5,880) 1992/2022 2006 2837 San Antonio TX — — 26,191 4,030 — 28,781 28,781 (11,500) 200

Schedule IV_ Mortgage Loans on

Schedule IV: Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2022
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 Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount Subject to Delinquent Principal or Interest First mortgages relating to 1 property located in: California Other 4.25% + greater of 2% or LIBOR Variable 05/07/2026 Interest only $ — $ 20,566 $ 17,652 $ — Florida Other greater of 8.5% or SOFR + 5.5% Variable 12/17/2023 Interest only — 7,798 6,882 — Florida Other greater of 8.5% or SOFR + 5.5% Variable 12/17/2023 Interest only — 3,912 3,769 — Florida Other greater of 8.5% or SOFR + 5.5% Variable 12/17/2023 Interest only — 14,207 14,106 — California Other greater of 8.5% or SOFR + 5.5% Variable 12/16/2023 Interest only — 35,100 33,143 — First mortgages relating to 10 properties located in: Multiple Other 3.75% + greater of 0.5% or LIBOR Variable 02/01/2024 Interest only — 119,754 116,920 — First mortgages relating to 16 properties located in: Multiple Other 4.25% Fixed 01/21/2023 (1) Interest only — 149,500 149,277 — $ — $ 350,837 $ 341,749 $ — Year Ended December 31, 2022 2021 2020 Reconciliation of mortgage loans Balance at beginning of year $ 390,291 $ 157,572 $ 161,964 Additions: New mortgage loans — 310,338 98,469 Draws and additions to existing mortgage loans 5,525 9,370 19,182 Total additions 5,525 319,708 117,651 Deductions: Principal repayments (47,591) (84,486) (113,200) Reserve for loan losses (2) (6,476) (2,503) (8,843) Total deductions (54,067) (86,989) (122,043) Balance at end of year $ 341,749 $ 390,291 $ 157,572 _______________________________________ (1) In January 2023, this secured loan reached maturity and the borrower did not make the required principal repayment. Accordingly, the loan is in default. The borrower is in discussions with the Company regarding repayment options and extension of the maturity date. (2) The years ended December 31, 2022, 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, 2022
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	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 recognizes rental revenue from its life science and medical office properties in accordance with Accounting Standards Codification (“ASC”) 842, Leases (“ASC 842”). 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. Rental and related revenues from other variable payments are recognized when the associated contingencies are removed. In accordance with ASC 842, the Company accounts for lease and nonlease components as a single lease component for the purpose of revenue recognition and disclosure. 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 The Company recognizes resident fee and service revenue from its Senior Housing Operating Property (“SHOP”) portfolios and CCRC properties in accordance with ASC 606, Revenue from Contracts with Customers . 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. Income from Direct Financing Leases The Company utilizes the direct finance method of accounting to record direct financing lease (“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. During the first quarter of 2022, the Company sold its remaining hospital under a DFL. 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. When collectibility of the future payments is reasonably assured, the Company utilizes the interest method on a loan-by-loan basis to recognize interest income on its loans, which includes the amortization of discounts and premiums as well as loan fees paid and received. 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, 2022, 2021, and 2020, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenue during the pandemic caused by the coronavirus disease (“Covid”). Grant income is recognized to the extent that qualifying expenses and lost revenues exceed grants received and the Company will comply with all conditions attached to the grant. As of December 31, 2022, 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.
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.
Lessee Accounting	Lessee Accounting For leases greater than 12 months for 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 the Consolidated Balance Sheets 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	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 (primarily lease revenue rates, expense rates, and growth rates). 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. 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 SHOP portfolios and 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.
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures Investments in entities the Company does not consolidate, but over which the Company has the ability to exercise significant influence over operating and financial policies, are reported under the equity method of accounting. Under the equity method of accounting, the Company’s share of the investee’s earnings or losses is included in equity income (loss) from unconsolidated joint ventures within the Company’s Consolidated Statements of Operations. The initial carrying value of investments in unconsolidated joint ventures is based on the amount paid to purchase the joint venture interest, the fair value of assets contributed to the joint venture, or the fair value of the assets prior to the sale of interests in the joint venture. To the extent that the Company’s cost basis is different from the basis reflected at the joint venture level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of equity in earnings of the joint venture. If an equity method investment shows indicators of impairment, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the equity method investment to its carrying value. When the Company determines a decline in fair value below carrying value of an investment in an unconsolidated joint venture is other-than-temporary, an impairment is recorded. The Company recognizes gains on the sale of interests in joint ventures to the extent the economic substance of the transaction is a sale.
Share-Based Compensation	Share-Based Compensation Compensation expense for share-based awards granted to employees with graded vesting schedules is generally recognized on a straight-line basis over the vesting period. Forfeitures of share-based awards are recognized as they occur.
Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash on hand and short-term investments with original maturities of three months or less when purchased. Restricted cash primarily consists of amounts held by mortgage lenders to provide for: (i) real estate tax expenditures, (ii) tenant improvements, and (iii) capital expenditures, as well as security deposits and net proceeds from property sales that were executed as tax-deferred dispositions. The Company maintains its cash and cash equivalents at financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As the account balances at each institution periodically exceed the FDIC insurance coverage, there is a concentration of credit risk related to amounts in excess of such coverage.
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. The Company maintains its cash and cash equivalents at financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As the account balances at each institution periodically exceed the FDIC insurance coverage, there is a concentration of credit risk related to amounts in excess of such coverage.
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 other income (expense), net. 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 related to the ineffective portion would be 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.
Income Taxes	Income Taxes Healthpeak Properties, Inc. has elected REIT status and believes it has always operated so as to continue to qualify as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, Healthpeak Properties, Inc. will generally not be subject to U.S. federal income tax, provided that it continues to qualify as a REIT and makes distributions to stockholders equal to or in excess of its taxable income. In addition, the Company has formed several consolidated subsidiaries that have elected REIT status. Healthpeak Properties, Inc. and its consolidated REIT subsidiaries are each subject to the REIT qualification requirements under the Code. If any REIT fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may be ineligible to qualify as a REIT for four subsequent tax years. Healthpeak Properties, Inc. and its consolidated REIT subsidiaries are subject to state, local, and/or foreign income taxes in some jurisdictions. In certain circumstances each REIT may also be subject to federal excise taxes on undistributed income. In addition, certain activities that the Company undertakes may be conducted by entities that have elected to be treated as taxable REIT subsidiaries (“TRSs”). TRSs are subject to federal, state, and local income taxes. The Company recognizes tax penalties relating to unrecognized tax benefits as additional income tax expense. Interest relating to unrecognized tax benefits is recognized as interest expense.
Advertising Cost	Advertising CostsAll advertising costs are expensed as incurred and reported within operating expenses 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 Credit Losses. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 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. 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, 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 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, which were required 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 years ended December 31, 2022 and 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. 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 adoption of ASU 2021-10 on January 1, 2022 did not have a material impact on the Company’s consolidated financial position, results of operations, cash flows, or disclosures. 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. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”), which defers the sunset date of the reference rate reform guidance to December 31, 2024. The amendments in ASU 2020-04, ASU 2021-01, and ASU 2022-06 were effective immediately upon issuance. During 2022, the Company elected to apply certain hedge accounting expedients provided by ASU 2020-04 and ASU 2021-01, which preserves the hedging relationship of derivatives. The expedients provided by ASU 2020-04, ASU 2021-01, and ASU 2022-06 and the effects of reference rate reform have not had, and are not expected to have, a material impact on the Company’s 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, 2022
Accounting Policies [Abstract]
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, 2022 2021 2020 Government grant income recorded in other income (expense), net $ 6,765 $ 1,412 $ 16,198 Government grant income recorded in equity income (loss) from unconsolidated joint ventures 878 1,749 1,279 Government grant income recorded in income (loss) from discontinued operations 217 3,669 15,436 Total government grants received $ 7,860 $ 6,830 $ 32,913

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2022
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 2022 2021 2020 Life science $ 658,542 $ 472,301 $ 573,999 Medical office 237,761 230,227 173,672 CCRC 65,691 57,192 41,224 $ 961,994 $ 759,720 $ 788,895

Dispositions of Real Estate a_2

Dispositions of Real Estate and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Summary of Dispositions of Real Estate and Discontinued Operations	The following summarizes the assets and liabilities classified as held for sale or as discontinued operations at December 31, 2022 and 2021, 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, 2022 2021 ASSETS Accounts receivable, net of allowance of $0 and $4,138 $ — $ 2,446 Cash and cash equivalents — 7,707 Right-of-use asset, net — 26 Other assets, net — 3,237 Total assets of discontinued operations, net — 13,416 Assets held for sale, net (1) 49,866 23,774 Assets held for sale and discontinued operations, net $ 49,866 $ 37,190 LIABILITIES Lease liability $ — $ 26 Accounts payable, accrued liabilities, and other liabilities — 14,843 Deferred revenue — 92 Total liabilities of discontinued operations, net — 14,961 Liabilities related to assets held for sale, net (1) 4,070 95 Liabilities related to assets held for sale and discontinued operations, net $ 4,070 $ 15,056 _______________________________________ (1) As of December 31, 2022, included two life science assets primarily comprised of net real estate assets of $44 million. As of December 31, 2021, included four MOBs and one life science facility primarily comprised of net real estate assets of $23 million. Year Ended December 31, 2022 2021 2020 Revenues: Rental and related revenues $ — $ 7,535 $ 97,877 Resident fees and services 7,489 114,936 621,253 Total revenues 7,489 122,471 719,130 Costs and expenses: Interest expense — 3,900 10,538 Depreciation and amortization — — 143,194 Operating 6,452 122,571 550,226 Transaction costs — 76 20,426 Impairments and loan loss reserves (recoveries), net — 32,736 201,344 Total costs and expenses 6,452 159,283 925,728 Other income (expense): Gain (loss) on sales of real estate, net 1,344 414,721 460,144 Other income (expense), net 169 4,189 5,475 Total other income (expense), net 1,513 418,910 465,619 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 2,550 382,098 259,021 Income tax benefit (expense) 270 969 9,913 Equity income (loss) from unconsolidated joint ventures 64 5,135 (1,188) Income (loss) from discontinued operations $ 2,884 $ 388,202 $ 267,746

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Fixed income from operating leases $ 1,182,463 $ 1,087,683 $ 943,638 Variable income from operating leases 359,312 290,701 238,470 Interest income from direct financing leases 1,168 8,702 9,720
Schedule of Components of Net Investment in Dfls	Net investment in DFLs consists of the following (in thousands): December 31, 2022 2021 Present value of minimum lease payments receivable $ — $ 1,220 Present value of estimated residual value — 44,706 Less deferred selling profits — (1,220) Net investment in direct financing leases $ — $ 44,706
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, 2022 (in thousands): Year Amount 2023 $ 1,132,120 2024 1,106,555 2025 1,025,557 2026 917,925 2027 828,431 Thereafter 3,100,427 $ 8,111,015
Schedule of Tenant Purchase Options	Certain leases 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 2023 $ 5,779 7 2024 7,446 3 2025 13,772 16 2026 5,594 3 2027 7,704 5 Thereafter 14,816 4 $ 55,111 38 _______________________________________ (1) Represents the most recent month’s base rent including additional rent floors 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, 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: 2022 2021 2020 Total lease expense $ 16,689 $ 14,442 $ 13,601 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 52 Weighted average discount rate: Operating leases 4.20 % 4.14 % _______________________________________ (1) As of December 31, 2022 and 2021, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years and 68 years, respectively.
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, 2022 (in thousands): Year Amount 2023 $ 17,146 2024 13,126 2025 11,946 2026 11,875 2027 11,941 Thereafter 484,897 Undiscounted minimum lease payments included in the lease liability 550,931 Less: imputed interest (342,416) Present value of lease liability $ 208,515

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Loans Receivable	The following table summarizes the Company’s loans receivable (in thousands): December 31, 2022 2021 Secured loans (1) $ 350,837 $ 396,281 Mezzanine and other 33,083 25,529 Unamortized discounts, fees, and costs (808) (4,186) Reserve for loan losses (8,280) (1,813) Loans receivable, net $ 374,832 $ 415,811 _______________________________________ (1) At December 31, 2022 and 2021, the Company had $40 million and $58 million, respectively, remaining of commitments to fund additional loans for 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, 2022 (in thousands): Investment Type Year of Origination Total 2022 2021 2020 2019 2018 Prior Secured loans Risk rating: Performing loans $ — $ 266,197 $ 75,552 $ — $ — $ — $ 341,749 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ — $ 266,197 $ 75,552 $ — $ — $ — $ 341,749 Mezzanine and other Risk rating: Performing loans $ 32,410 $ 595 $ 78 $ — $ — $ — $ 33,083 Watch list loans — — — — — — — Workout loans — — — — — — — Total mezzanine and other $ 32,410 $ 595 $ 78 $ — $ — $ — $ 33,083
Schedule of Financing Receivable, Allowance for Credit Loss	The following table summarizes the Company’s reserve for loan losses (in thousands): December 31, 2022 December 31, 2021 Secured Loans Mezzanine and Other Total Secured Loans Mezzanine and Other Total Reserve for loan losses, beginning of period $ 1,804 $ 9 $ 1,813 $ 3,152 $ 7,128 $ 10,280 Provision for expected loan losses 6,527 7 6,534 793 896 1,689 Expected loan losses related to loans sold or repaid (1) (51) (16) (67) (2,141) (8,015) (10,156) Reserve for loan losses, end of period $ 8,280 $ — $ 8,280 $ 1,804 $ 9 $ 1,813 _______________________________________ (1) Includes two loans sold or repaid during t he year ended December 31, 2022 and six loans sold or repaid during the year ended December 31, 2021.

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2022
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 (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Property Count (2) Ownership % (2) 2022 2021 SWF SH JV Other 19 54 $ 345,978 $ 355,394 South San Francisco JVs (3) Life science 7 70 309,969 — Life Science JV Life science 1 49 26,601 25,605 Needham Land Parcel JV (4) Life science — 38 15,391 13,566 Medical Office JVs (5) Medical office 3 20 - 67 8,738 9,069 $ 706,677 $ 403,634 _______________________________________ (1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2) Property counts and ownership percentages are as of December 31, 2022. (3) Includes seven unconsolidated life science joint ventures in South San Francisco, California in which the Company holds a 70% ownership percentage in each joint venture. These joint ventures have been aggregated herein due to similarity of the investments and operations. See “South San Francisco Joint Ventures” below for further information. (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, 2022. (5) Includes

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2022
Intangibles [Abstract]
Schedule of Intangible Lease Assets	The following table summarizes the Company’s intangible lease assets (dollars in thousands): December 31, Intangible lease assets 2022 2021 Gross intangible lease assets $ 770,285 $ 797,675 Accumulated depreciation and amortization (352,224) (277,915) Intangible assets, net (1) $ 418,061 $ 519,760 Weighted average remaining amortization period in years 5 6 _______________________________________ (1) Excludes intangible assets reported in assets held for sale of $2 million and zero as of December 31, 2022 and 2021, respectively.
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 2022 2021 Gross intangible lease liabilities $ 237,464 $ 234,917 Accumulated depreciation and amortization (81,271) (57,685) Intangible liabilities, net $ 156,193 $ 177,232 Weighted average remaining amortization period in years 7 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, 2022 2021 2020 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 104,885 $ 106,106 $ 89,301 Rental and related revenues related to amortization of net below market lease liabilities (1) 24,640 20,597 11,717 _______________________________________ (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 Depreciation and Amortization 2023 $ 24,036 $ 99,784 2024 22,913 95,570 2025 21,891 83,984 2026 19,397 51,948 2027 15,393 26,349 Thereafter 43,356 51,219 $ 146,986 $ 408,854

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
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 In January 2023, the Company completed a senior unsecured note issuance as summarized in the following table (dollars in thousands): Issue Date Amount Coupon Rate Maturity Date January 17, 2023 $ 400,000 5.25 % 2032
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 (1) : May 19, 2021 $ 251,806 3.40 % 2025 May 19, 2021 298,194 4.00 % 2025 February 26, 2021 188,000 4.25 % 2023 February 26, 2021 149,000 4.20 % 2024 February 26, 2021 331,000 3.88 % 2024 January 28, 2021 112,000 4.25 % 2023 January 28, 2021 201,000 4.20 % 2024 January 28, 2021 469,000 3.88 % 2024 Year ended December 31, 2020 (2) : July 9, 2020 300,000 3.15 % 2022 June 24, 2020 250,000 4.25 % 2023 _______________________________________ (1) As a result of the repurchases and redemptions of these senior unsecured notes, the Company recognized an aggregate $225 million loss on debt extinguishment during the year ended December 31, 2021. (2) As a result of the repurchases and redemptions of these senior unsecured notes, the Company recognized an aggregate $44 million loss on debt extinguishment during the year ended December 31, 2020.
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, 2022 (dollars in thousands): Senior Unsecured Notes (2) Mortgage Debt (3) Year Bank Line of Credit Commercial Paper (1) Term Loans Amount Interest Rate Amount Interest Rate Total 2023 $ — $ — $ — $ — — % $ 90,089 3.80 % $ 90,089 2024 — — — — — % 7,024 6.14 % 7,024 2025 — — — 800,000 3.92 % 3,209 3.82 % 803,209 2026 — 995,606 — 650,000 3.40 % 244,523 4.48 % 1,890,129 2027 — — 500,000 450,000 1.54 % 366 5.91 % 950,366 Thereafter — — — 2,800,000 3.50 % — — % 2,800,000 — 995,606 500,000 4,700,000 345,211 6,540,817 Premiums, (discounts), and debt issuance costs, net — — (4,043) (40,549) 1,388 (43,204) $ — $ 995,606 $ 495,957 $ 4,659,451 $ 346,599 $ 6,497,613 _______________________________________ (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 6.87% with a weighted average effective interest rate of 3.37% and a weighted average maturity of 6 years. (3) Effective interest rates on the mortgage debt range from 3.44% to 7.93% with a weighted average effective interest rate of 4.33% and a weighted average maturity of 3 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 (in thousands): Amount Development and redevelopment commitments (1) $ 219,059 Lease and other contractual commitments (2) 33,164 Construction loan commitments (3) 39,965 $ 292,188 _______________________________________ (1) Represents construction and other commitments as of December 31, 2022 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, 2022 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, 2022 to fund additional loans for senior housing redevelopment and capital expenditure projects.

Equity and Redeemable Noncont_2

Equity and Redeemable Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Dividend Reinvestment and Stock Purchase Plan $ 59 $ 81 $ 181 Conversion of DownREIT units 27 8 120 Exercise of stock options — 97 54 Vesting of restricted stock units 820 924 668 Repurchase of common stock 2,418 418 298
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2022 2021 Unrealized gains (losses) on derivatives, net $ 30,145 $ — Supplemental Executive Retirement Plan minimum liability (2,011) (3,147) Total accumulated other comprehensive income (loss) $ 28,134 $ (3,147) The Company has a defined benefit pension plan, known as the Supplemental Executive Retirement Plan, with one plan participant, the former Chief Executive Officer (“CEO”) of the Company who departed in 2003. Changes to the Supplemental Executive Retirement Plan minimum liability are reflected in other comprehensive income (loss).

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Numerator Income (loss) from continuing operations $ 513,540 $ 137,728 $ 160,507 Noncontrolling interests’ share in continuing operations (15,975) (17,851) (14,394) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 497,565 119,877 146,113 Less: Participating securities’ share in continuing operations (2,657) (3,269) (2,416) Income (loss) from continuing operations applicable to common shares 494,908 116,608 143,697 Income (loss) from discontinued operations 2,884 388,202 267,746 Noncontrolling interests’ share in discontinued operations — (2,539) (296) Net income (loss) applicable to common shares - basic and diluted $ 497,792 $ 502,271 $ 411,147 Denominator Basic weighted average shares outstanding 538,809 538,930 530,555 Dilutive potential common shares - equity awards (1) 338 310 300 Dilutive potential common shares - forward equity agreements (2) — 1 201 Diluted weighted average common shares 539,147 539,241 531,056 Basic earnings (loss) per common share Continuing operations $ 0.92 $ 0.22 $ 0.27 Discontinued operations 0.00 0.71 0.50 Net income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77 Diluted earnings (loss) per common share: Continuing operations $ 0.92 $ 0.22 $ 0.27 Discontinued operations 0.00 0.71 0.50 Net income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77 _______________________________________ (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, 2022, all 9.1 million shares that were settled during the year then ended were anti-dilutive. For the year ended December 31, 2021, all 9.1 million shares that were not settled during the year then ended were anti-dilutive. For the year ended December 31, 2020, represents the dilutive impact of 32 million shares that were settled during the year then ended.

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 (units in thousands): Restricted Weighted Unvested at January 1, 2022 1,692 $ 33.72 Granted 983 32.94 Vested (820) 32.87 Forfeited (146) 34.02 Unvested at December 31, 2022 1,709 $ 33.66

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022: Life Science Medical Office CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 817,573 $ 725,370 $ 494,935 $ 23,300 $ — $ 2,061,178 Government grant income (1) — — 6,765 — — 6,765 Less: Interest income — — — (23,300) — (23,300) Healthpeak’s share of unconsolidated joint venture total revenues 9,921 2,999 — 73,885 — 86,805 Healthpeak’s share of unconsolidated joint venture government grant income — — 380 498 — 878 Noncontrolling interests’ share of consolidated joint venture total revenues (268) (35,717) — — — (35,985) Operating expenses (209,143) (253,309) (400,539) — — (862,991) Healthpeak’s share of unconsolidated joint venture operating expenses (2,883) (1,178) — (57,632) — (61,693) Noncontrolling interests’ share of consolidated joint venture operating expenses 87 10,317 — — — 10,404 Adjustments to NOI (2) (62,754) (15,513) 2,300 169 — (75,798) Adjusted NOI 552,533 432,969 103,841 16,920 — 1,106,263 Plus: Adjustments to NOI (2) 62,754 15,513 (2,300) (169) — 75,798 Interest income — — — 23,300 — 23,300 Interest expense — (6,900) (7,509) — (158,535) (172,944) Depreciation and amortization (302,649) (279,546) (128,374) — — (710,569) General and administrative — — — — (131,033) (131,033) Transaction costs (387) (1,255) (725) — (2,486) (4,853) Impairments and loan loss reserves, net — — — (7,004) — (7,004) Gain (loss) on sales of real estate, net 3,744 10,659 — (5,325) — 9,078 Other income (expense), net 311,939 12,709 (1,380) (13) 3,013 326,268 Less: Government grant income — — (6,765) — — (6,765) Less: Healthpeak’s share of unconsolidated joint venture NOI (7,038) (1,821) (380) (16,751) — (25,990) Plus: Noncontrolling interests’ share of consolidated joint venture NOI 181 25,400 — — — 25,581 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 621,077 207,728 (43,592) 10,958 (289,041) 507,130 Income tax benefit (expense) — — — — 4,425 4,425 Equity income (loss) from unconsolidated joint ventures (972) 852 539 1,566 — 1,985 Income (loss) from continuing operations 620,105 208,580 (43,053) 12,524 (284,616) 513,540 Income (loss) from discontinued operations — — — — 2,884 2,884 Net income (loss) $ 620,105 $ 208,580 $ (43,053) $ 12,524 $ (281,732) $ 516,424 _______________________________________ (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, 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.
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 2022 2021 Life science $ 9,019,271 $ 8,257,990 Medical office 6,291,986 6,152,512 CCRC 2,276,898 2,233,377 Reportable segment assets 17,588,155 16,643,879 Accumulated depreciation and amortization (3,540,362) (3,125,416) Net reportable segment assets 14,047,793 13,518,463 Other non-reportable segment assets 744,550 794,172 Assets held for sale and discontinued operations, net 49,866 37,190 Other non-segment assets 929,020 907,694 Total assets $ 15,771,229 $ 15,257,519

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Ordinary dividends (1) $ 0.872948 $ 0.152336 $ 0.713864 Capital gains (2)(3) 0.183208 0.379960 0.529796 Nondividend distributions 0.143844 0.667704 0.236340 $ 1.200000 $ 1.200000 $ 1.480000 _______________________________________ (1) For the year ended December 31, 2022, all $0.872948 of ordinary dividends qualified as business income for purposes of Code Section 199A. For the year ended December 31, 2021, the amount includes $0.137064 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.015272 of qualified dividend income for purposes of Code Section 1(h)(11). For the year ended December 31, 2020, all $0.713864 of ordinary dividends qualified as business income for purposes of Code Section 199A. (2) For the years ended December 31, 2022, 2021, and 2020, the amount includes $0.017760, $0.379960, and $0.221420, respectively, of Unrecaptured Section 1250 gain. Pursuant to Treasury Regulation Section 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.” For the year ended December 31, 2022, the “One Year Amounts” and “Three Year Amounts” are 89.6708% of the total capital gain distributions and the remaining capital gain distributions are attributable to Code Section 1231 gains, which are not subject to Code Section 1061. For the years ended December 31, 2021 and 2020, the “One Year Amounts” and “Three Year Amounts” are each zero, since all capital gains relate to Code Section 1231 gains. (3) For the years ended December 31, 2022, 2021, and 2020, 10.3292%, 100%, and 100%, respectively, of the capital gain distributions represent gains from dispositions of U.S. real property interests pursuant to Code Section 897 for foreign shareholders.
Schedule of Income Tax Expense (Benefit) From Continuing Operations	The total income tax benefit (expense) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2022 2021 2020 Current Federal $ (632) $ (126) $ 9,164 State (689) (1,003) (1,431) Total current $ (1,321) $ (1,129) $ 7,733 Deferred Federal $ 3,157 $ 3,469 $ 2,849 State 2,589 921 (1,159) Total deferred $ 5,746 $ 4,390 $ 1,690 Total income tax benefit (expense) from continuing operations $ 4,425 $ 3,261 $ 9,423
Schedule of Reconciliation of Income Tax Expense at Statutory Rates to the Actual Income Tax Expense Recorded	The following table reconciles income tax benefit (expense) from continuing operations at statutory rates to actual income tax benefit (expense) recorded (in thousands): Year Ended December 31, 2022 2021 2020 Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax $ 3,698 $ 3,345 $ (15,016) State income tax benefit (expense), net of federal tax 911 706 (4,211) Gross receipts and margin taxes (956) (989) (980) Return to provision adjustments 1,260 (4) (707) Valuation allowance for deferred tax assets 194 203 (24,051) Tax rate differential ─ NOL carryback under the CARES Act — — 3,732 Change in tax status of TRS (682) — 50,656 Total income tax benefit (expense) from continuing operations $ 4,425 $ 3,261 $ 9,423
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, 2022 2021 2020 Deferred tax assets: Deferred revenue $ 102,504 $ 104,397 $ 103,713 Net operating loss carryforward 62,280 71,744 68,444 Expense accruals 12,399 14,229 15,478 Real estate 150 129 3,895 Investment in unconsolidated joint ventures — — 2,333 Other 689 — — Total deferred tax assets 178,022 190,499 193,863 Valuation allowance (26,098) (35,772) (33,519) Deferred tax assets, net of valuation allowance $ 151,924 $ 154,727 $ 160,344 Deferred tax liabilities: Real estate $ 52,266 $ 61,097 $ 72,059 Other 674 648 1,094 Deferred tax liabilities $ 52,940 $ 61,745 $ 73,153 Net deferred tax assets $ 98,984 $ 92,982 $ 87,191
Schedule of Income Tax Contingencies	The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2022 2021 2020 Total unrecognized tax benefits at January 1 $ 469 $ 469 $ 469 Gross amount of decreases for prior years’ tax positions (469) — — Total unrecognized tax benefits at December 31 $ — $ 469 $ 469

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Supplemental cash flow information: Interest paid, net of capitalized interest $ 162,115 $ 173,044 $ 209,843 Income taxes paid (refunded) (1,903) 4,521 (786) Capitalized interest 41,046 24,084 27,041 Cash paid for amounts included in the measurement of lease liability for operating leases 12,594 10,620 9,940 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 9,454 28,866 32,208 Decrease in ROU asset with corresponding change in lease liability related to operating leases — 8,410 — Retained investment in connection with South San Francisco JVs transaction 293,265 — — Accrued construction costs 178,626 179,995 95,293 Net noncash impact from the consolidation of previously unconsolidated joint ventures — — 369,223 Refundable entrance fees assumed with real estate acquisitions — — 307,954 Seller financing provided on disposition of real estate asset — 559,745 73,498 Mortgages assumed with real estate acquisitions — — 251,280 Carrying value of mortgages assumed by buyer in real estate dispositions — 143,676 — The following table summarizes certain cash flow information related to assets classified as discontinued operations (in thousands): Year Ended December 31, 2022 2021 2020 Leasing costs, tenant improvements, and recurring capital expenditures $ 21 $ 2,636 $ 12,695 Development, redevelopment, and other major improvements of real estate 18 5,780 30,769 Depreciation and amortization of real estate, in-place lease, and other intangibles — — 143,194
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table summarizes cash, cash equivalents and restricted cash (in thousands): Year Ended December 31, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Continuing operations Discontinued operations Total Beginning 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 End of year: Cash and cash equivalents $ 72,032 $ 158,287 $ 44,226 $ — $ 7,707 $ 53,085 $ 72,032 $ 165,994 $ 97,311 Restricted cash 54,802 53,454 67,206 — — 17,168 54,802 53,454 84,374 Cash, cash equivalents and restricted cash $ 126,834 $ 211,741 $ 111,432 $ — $ 7,707 $ 70,253 $ 126,834 $ 219,448 $ 181,685

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2022
Variable Interest Entities [Abstract]
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, 2022 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) CMBS and LLC investment Other assets, net $ 36,874 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 15,391 _______________________________________
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, 2022 2021 Assets Buildings and improvements $ 2,356,905 $ 2,303,920 Development costs and construction in progress 58,499 82,303 Land 324,714 548,168 Accumulated depreciation and amortization (623,244) (551,097) Net real estate 2,116,874 2,383,294 Accounts receivable, net 6,893 5,455 Cash and cash equivalents 20,586 22,295 Restricted cash 354 114 Intangible assets, net 73,860 117,180 Assets held for sale and discontinued operations, net 30,355 754 Right-of-use asset, net 99,376 107,993 Other assets, net 73,690 62,886 Total assets $ 2,421,988 $ 2,699,971 Liabilities Mortgage debt $ 144,604 $ 144,350 Intangible liabilities, net 15,066 23,909 Liabilities related to assets held for sale and discontinued operations, net 401 1,677 Lease liability 99,039 99,213 Accounts payable, accrued liabilities, and other liabilities 68,979 58,440 Deferred revenue 39,661 21,546 Total liabilities $ 367,750 $ 349,135 Total assets and total liabilities related to assets held for sale and discontinued operations include VIE assets and liabilities as follows (in thousands): December 31, 2022 2021 Assets Buildings and improvements $ 39,934 $ — Development costs and construction in progress — — Land 1,926 — Accumulated depreciation and amortization (15,612) — Net real estate 26,248 — Accounts receivable, net — 62 Cash and cash equivalents — 59 Intangible assets, net 215 — Other assets, net 3,892 633 Total assets $ 30,355 $ 754 Liabilities Accounts payable, accrued liabilities, and other liabilities $ — $ 1,677 Deferred revenue 401 — Total liabilities $ 401 $ 1,677

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2022
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 the 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 2022 2021 2022 2021 2020 California 37 34 31 28 21 Florida 10 11 18 17 14 Texas 10 10 11 11 9 Massachusetts 17 16 10 9 4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [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, 2022 (3) 2021 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 374,832 $ 369,425 $ 415,811 $ 437,607 Marketable debt securities (2) 21,702 21,702 21,003 21,003 Interest rate swap instruments (2) 30,259 30,259 — — Interest rate cap instruments (2) — — 397 397 Bank line of credit and commercial paper (2) 995,606 995,606 1,165,975 1,165,975 Term loans (2) 495,957 495,957 — — Senior unsecured notes (1) 4,659,451 4,238,124 4,651,933 5,054,747 Mortgage debt (2) 346,599 330,867 352,081 352,800 _______________________________________ (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, interest rate swap instruments, and interest rate cap instruments, standardized pricing models in which significant inputs or value drivers are observable in active markets. For bank line of credit, commercial paper, and term loans, 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, 2022 and 2021, there were no material transfers of financial assets or liabilities within the fair value hierarchy.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the Company’s interest rate swap instruments (in thousands): Fair Value (1) Date Entered Maturity Date Hedge Designation Notional Amount Pay Rate Receive Rate December 31, December 31, April 2022 (2) May 2026 Cash flow $ 51,100 5.08 % 1 mo. USD-LIBOR-BBA + 2.50% $ 2,300 $ — April 2022 (2) May 2026 Cash flow 91,000 4.63 % 1 mo. USD-LIBOR-BBA + 2.05% 4,096 — August 2022 (2) February 2027 Cash flow 250,000 2.60 % 1 mo. USD-SOFR CME Term 11,299 — August 2022 (2) August 2027 Cash flow 250,000 2.54 % 1 mo. USD-SOFR CME Term 12,564 — _____________________________ (1) At December 31, 2022, the interest rate swap instruments were in an asset position. Derivative assets are recorded in other assets, net on the Consolidated Balance Sheets. (2) Represents interest rate swap instruments that hedge fluctuations in interest payments on variable rate debt by converting the interest rates to fixed interest rates. The changes in fair value of designated derivatives that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The following table summarizes the Company’s interest rate cap instruments (in thousands): Fair Value (1) Date Entered Maturity Date Hedge Designation Notional Amount Strike Rate Index December 31, December 31, April 2021 (2) May 2024 Non-designated $ 142,100 2.00 % 1 mo. USD-LIBOR-BBA $ — $ 397 _____________________________ (1) At December 31, 2021, the interest rate cap instruments were in an asset position. Derivative assets are recorded in other assets, net on the Consolidated Balance Sheets. (2) Represents two interest rate cap instruments that manage the Company’s exposure to variable cash flows on certain mortgage debt borrowings by limiting interest rates. These interest rate cap instruments were terminated in April 2022.

Accounts Payable, Accrued Lia_2

Accounts Payable, Accrued Liabilities, and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Refundable entrance fees $ 268,972 $ 288,409 Accrued construction costs 178,626 179,995 Accrued interest 59,291 59,342 Other accounts payable and accrued liabilities 265,596 227,638 Accounts payable, accrued liabilities, and other liabilities $ 772,485 $ 755,384

Deferred Revenue (Tables)

Deferred Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenues [Abstract]
Schedule of Deferred Revenue	The following table summarizes the Company’s deferred revenue, excluding deferred revenue related to assets classified as held for sale and discontinued operations (in thousands): December 31, 2022 2021 Nonrefundable entrance fees (1) $ 518,573 $ 496,478 Other deferred revenue (2) 325,503 292,729 Deferred revenue $ 844,076 $ 789,207 _______________________________________ (1) During the years ended December 31, 2022 and 2021, the Company collected nonrefundable entrance fees of $101 million and $89 million, respectively. During the years ended December 31, 2022, 2021, and 2020, the Company recognized amortization of $79 million, $76 million, and $72 million, respectively, which is included within resident fees and services on the Consolidated Statements of Operations. (2) Other deferred revenue is primarily comprised of prepaid rent, deferred rent, and tenant-funded tenant improvements owned by the Company. During the years ended December 31, 2022, 2021, and 2020, the Company recognized amortization related to other deferred revenue of $44 million, $39 million, and $33 million, respectively, which is included in rental and related revenues on the Consolidated Statements of Operations.

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Quarterly Information	The following tables summarize selected quarterly information for the years ended December 31, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended 2022 March 31 June 30 September 30 December 31 Total revenues $ 498,372 $ 517,932 $ 520,406 $ 524,468 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 73,719 68,201 355,775 9,435 Income (loss) from continuing operations 75,026 69,301 359,284 9,929 Income (loss) from discontinued operations 317 2,992 (1,298) 873 Net income (loss) 75,343 72,293 357,986 10,802 Net income (loss) applicable to Healthpeak Properties, Inc. 71,613 68,338 353,970 6,528 Dividends paid per common share 0.30 0.30 0.30 0.30 Basic earnings (loss) per common share: Continuing operations 0.13 0.12 0.66 0.01 Discontinued operations 0.00 0.01 0.00 0.00 Diluted earnings (loss) per common share: Continuing operations 0.13 0.12 0.65 0.01 Discontinued operations 0.00 0.01 0.00 0.00 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

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
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	$ 8,000	$ 11,000	$ 18,000
Cumulative effect of new accounting principle	7,182,598	7,058,760	7,289,950		$ 6,658,859
Cumulative Effect, Period of Adoption, Adjustment
Schedule of Equity Method Investments [Line Items]
Cumulative effect of new accounting principle				$ 2,000	$ (1,524)	[1]
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Advertising expense	$ 100	$ 3,000	$ 12,000
Building and Building Improvements
Schedule of Equity Method Investments [Line Items]
Property, plant and equipment, useful life	50 years
[1]On January 1, 2020, the Company adopted a series of Accounting Standards Updates (“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.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Government Grant Receivables Cares Act (Details) - Government Assistance, CARES Act - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Government grant income	$ 7,860	$ 6,830	$ 32,913
Government grant income recorded in other income (expense), net
Schedule of Equity Method Investments [Line Items]
Government grant income	6,765	1,412	16,198
Government grant income recorded in equity income (loss) from unconsolidated joint ventures
Schedule of Equity Method Investments [Line Items]
Government grant income	878	1,749	1,279
Government grant income recorded in income (loss) from discontinued operations
Schedule of Equity Method Investments [Line Items]
Government grant income	$ 217	$ 3,669	$ 15,436

Master Transactions and Coope_2

Master Transactions and Cooperation Agreement with Brookdale (Details)		1 Months Ended			12 Months Ended
	Jan. 31, 2020 USD ($) property	May 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property	Oct. 31, 2019 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 31, 2021 property
Real Estate Properties [Line Items]
Capital investment			$ 5,000,000				$ 5,000,000
Gain upon change of control, net					$ 311,438,000	$ 1,042,000	159,973,000
Long-term debt					6,497,613,000
Gain (loss) on sales of real estate, net					$ 9,078,000	$ 190,590,000	$ 90,350,000
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
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
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 | Government grant income recorded in other income (expense), net
Real Estate Properties [Line Items]
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%
CCRC JV Investment
Real Estate Properties [Line Items]
Investment ownership percentage	49%	49%
Proceeds from sale of buildings		$ 19,000,000
CCRC JV Investment | Brookedale MTCA
Real Estate Properties [Line Items]
Interest acquired	51%
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
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

Real Estate - 2022 Real Estate

Real Estate - 2022 Real Estate Investment Acquisitions (Details) $ in Millions	1 Months Ended				12 Months Ended
	Jan. 31, 2023 USD ($)	May 31, 2022 USD ($) property	Mar. 31, 2022 USD ($) property	Jan. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) property
Medical Office
Real Estate [Line Items]
Number of properties acquired | property						2
Massachusetts | Life Science
Real Estate [Line Items]
Payments to acquire real estate | $				$ 72	$ 18	$ 498
Number of properties acquired | property						8
Massachusetts | Life Science | Subsequent Event
Real Estate [Line Items]
Payments to acquire real estate | $	$ 9
Massachusetts | Medical Office
Real Estate [Line Items]
Payments to acquire real estate | $						$ 55
Number of properties acquired | property						1
California | Life Science
Real Estate [Line Items]
Payments to acquire real estate | $				$ 24		$ 20
Number of properties acquired | property						1
Texas | Medical Office
Real Estate [Line Items]
Payments to acquire real estate | $			$ 43			$ 60
Number of properties acquired | property			2			2
ARKANSAS | Medical Office
Real Estate [Line Items]
Payments to acquire real estate | $		$ 26
Number of properties acquired | property		1

Real Estate - 2021 Real Estate

Real Estate - 2021 Real Estate Investment Acquisitions (Details) $ in Millions	1 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($) property	Jan. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) a property	Apr. 30, 2021 USD ($)
Medical Office
Real Estate [Line Items]
Number of properties acquired | property				2
Medical Office | Mortgage Debt
Real Estate [Line Items]
Face amount					$ 142
Medical Office | MASSACHUSETTS
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 55
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			2
Payments to acquire real estate	$ 43			$ 60
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 | MASSACHUSETTS
Real Estate [Line Items]
Number of properties acquired | property				8
Payments to acquire real estate		$ 72	$ 18	$ 498
Life Science | CALIFORNIA
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate		$ 24		$ 20
Area of land | a				12
Payments to acquire land				$ 128

Real Estate - Construction, Ten

Real Estate - Construction, Tenant, and Other Capital Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 961,994	$ 759,720	$ 788,895
Life Science
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	658,542	472,301	573,999
Medical Office
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	237,761	230,227	173,672
CCRC
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 65,691	$ 57,192	$ 41,224

Dispositions of Real Estate a_3

Dispositions of Real Estate and Discontinued Operations - 2022 Dispositions of Real Estate (Details) $ in Thousands	1 Months Ended			3 Months Ended	12 Months Ended
	Jan. 31, 2023 USD ($) property	Jul. 31, 2022 USD ($) property	Jan. 31, 2022 USD ($) property	Jun. 30, 2022 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					$ 9,078	$ 190,590	$ 90,350
Life Science
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property			1
Proceeds from sale of buildings			$ 14,000
Gain (loss) on sales of real estate, net			$ 4,000
Life Science | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property	2
Medical Office
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property		2		3
Proceeds from sale of buildings		$ 9,000		$ 27,000
Gain (loss) on sales of real estate, net		$ 1,000		$ 10,000
Medical Office | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net	$ 113,000

Dispositions of Real Estate a_4

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

1 Months Ended

3 Months Ended

12 Months Ended

24 Months Ended

Jul. 31, 2022 USD ($) property

Sep. 30, 2021 loan

Jun. 30, 2021 USD ($) property

May 31, 2021 USD ($) property

Apr. 30, 2021 USD ($) property

Mar. 31, 2021 USD ($) property

Feb. 28, 2021 USD ($) property

Jan. 31, 2021 USD ($) property

Dec. 31, 2020 USD ($) property

Jun. 30, 2022 USD ($) property

Mar. 31, 2021 USD ($) property

Dec. 31, 2022 USD ($) loan

Dec. 31, 2021 USD ($) property loan

Dec. 31, 2020 USD ($) property

Dec. 31, 2022 USD ($)

Apr. 30, 2021 preferred_equity_investment

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

Gain (loss) on sales of real estate, net

$ 9,078,000

$ 190,590,000

$ 90,350,000

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

$ 0

$ 143,676,000

$ 0

Number of loans sold | loan

1

2

6

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

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

$ 40,000,000

$ 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]

Payments to acquire finance receivables

150,000,000

Proceeds from sale of buildings

230,000,000

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 | 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

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

32

Payments to acquire finance receivables

$ 410,000,000

Proceeds from sale of buildings

$ 664,000,000

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

2

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 | 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

2

3

Proceeds from sale of buildings

$ 9,000,000

$ 27,000,000

Gain (loss) on sales of real estate, net

$ 1,000,000

$ 10,000,000

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

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

Number of assets sold | property

1

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

Dispositions of Real Estate a_5

Dispositions of Real Estate and Discontinued Operations - 2020 Dispositions of Real Estate (Details) $ in Thousands	1 Months Ended			3 Months Ended		12 Months Ended
	Jul. 31, 2022 USD ($) property	Jan. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property	Jun. 30, 2022 USD ($) property	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) 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						$ 9,078	$ 190,590	$ 90,350
Net cash provided by (used in) financing activities						$ (116,532)	(1,288,517)	246,450
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
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
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]
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
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
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 | 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
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
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	2			3
Proceeds from sale of buildings	$ 9,000			$ 27,000
Gain (loss) on sales of real estate, net	$ 1,000			$ 10,000
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
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property				1
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_6

Dispositions of Real Estate and Discontinued Operations - Assets and Liabilities for Discontinued Operations (Details) $ in Thousands	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
ASSETS
Cash and cash equivalents	$ 0	$ 7,707	$ 53,085	$ 63,834
Total assets of discontinued operations, net	49,866	37,190
LIABILITIES
Total liabilities of discontinued operations, net	4,070	15,056
Allowance for doubtful accounts receivable	0	4,138
Held-for-sale
ASSETS
Accounts receivable, net of allowance of $0 and $4,138	0	2,446
Cash and cash equivalents	0	7,707
Right-of-use asset, net	0	26
Other assets, net	0	3,237
Total assets of discontinued operations, net	0	13,416
Assets held for sale, net	49,866	23,774
Assets held for sale and discontinued operations, net	49,866	37,190
LIABILITIES
Lease liability	0	26
Accounts payable, accrued liabilities, and other liabilities	0	14,843
Deferred revenue	0	92
Total liabilities of discontinued operations, net	0	14,961
Liabilities related to assets held for sale, net	4,070	95
Liabilities related to assets held for sale and discontinued operations, net	4,070	15,056
Net real estate assets	$ 44,000	$ 23,000
Held-for-sale | Medical Office
LIABILITIES
Number of properties classified as held for sale | property		4
Held-for-sale | Life Science
LIABILITIES
Number of properties classified as held for sale | property	2	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, 2022	Dec. 31, 2021	Dec. 31, 2020
Other income (expense):
Income tax benefit (expense)	$ 300	$ 1,000	$ 10,000
Held-for-sale
Revenues:
Rental and related revenues	0	7,535	97,877
Resident fees and services	7,489	114,936	621,253
Total revenues	7,489	122,471	719,130
Costs and expenses:
Interest expense	0	3,900	10,538
Depreciation and amortization	0	0	143,194
Operating	6,452	122,571	550,226
Transaction costs	0	76	20,426
Impairments and loan loss reserves (recoveries), net	0	32,736	201,344
Total costs and expenses	6,452	159,283	925,728
Other income (expense):
Gain (loss) on sales of real estate, net	1,344	414,721	460,144
Other income (expense), net	169	4,189	5,475
Total other income (expense), net	1,513	418,910	465,619
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	2,550	382,098	259,021
Income tax benefit (expense)	270	969	9,913
Equity income (loss) from unconsolidated joint ventures	64	5,135	(1,188)
Income (loss) from discontinued operations	$ 2,884	$ 388,202	$ 267,746

Impairments of Real Estate (Det

Impairments of Real Estate (Details)	3 Months Ended			12 Months Ended
	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property	Oct. 31, 2019 property
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				$ 0
Net real estate				13,023,483,000	$ 12,667,429,000
Impairments and loan loss reserves (recoveries), net				7,004,000	55,896,000	$ 244,253,000
Goodwill, impairment loss				0	0	0
Goodwill				18,000,000	18,000,000
Insured event loss				(7,168,000)	(1,632,000)	(469,000)
Planned MOB Demolition, Tenant Relocation And Other Costs
Impaired Long-Lived Assets Held and Used [Line Items]
Expense on other	$ 14,000,000
Casualty-Related Losses
Impaired Long-Lived Assets Held and Used [Line Items]
Insured event loss				$ 6,000,000	5,000,000	500,000
Minimum
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range						$ 13,000
Terminal capitalization rate						5.50%
Discount rates						8%
Maximum
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range						$ 300,000
Terminal capitalization rate						7.50%
Discount rates						9.50%
Weighted Average
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment calculation price range						$ 164,000
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
Discontinued Operations
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments and loan loss reserves (recoveries), net						201,000,000
Shop Assets, Senior Housing Triple-net Assets, MOBs, and Other Non-Reportable Asset
Impaired Long-Lived Assets Held and Used [Line Items]
Aggregate carrying value before impairment						960,000,000
Real estate held-for-sale						$ 750,000,000
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
Property count | property					4
Medical Office | Held-for-use
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property					1
Medical Office | Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property					3
Medical Office | Impairments 2021 | Held-for-use
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate					$ 17,000,000
Medical Office | Impairments 2021 | 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
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
Senior Housing Operating Portfolio | Impairments 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Aggregate carrying value before impairment					$ 20,000,000
Real estate held-for-sale					$ 16,000,000
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
Property count | property							43
MOB Land Parcels
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property						1

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Fixed income from operating leases	$ 1,182,463	$ 1,087,683	$ 943,638
Variable income from operating leases	359,312	290,701	238,470
Interest income from direct financing leases	$ 1,168	$ 8,702	$ 9,720

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property
Lessee, Lease, Description [Line Items]
Proceeds from sale of lease receivables	$ 68,000	$ 82,000
Gain on sale of direct financing lease	$ 23,000	$ 42,000
Properties subject to direct financing leases (in properties) | property			0	1
Net investment in direct financing leases before allowance			$ 0	$ 44,706
Medical Office
Lessee, Lease, Description [Line Items]
Net investment in direct financing leases before allowance			$ 45,000	$ 45,000

Leases - Components of Net Inve

Leases - Components of Net Investment in DFLs (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Present value of minimum lease payments receivable	$ 0	$ 1,220
Present value of estimated residual value	0	44,706
Less deferred selling profits	0	(1,220)
Net investment in direct financing leases before allowance	$ 0	$ 44,706

Leases - Future Minimum Rents (

Leases - Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 1,132,120
2024	1,106,555
2025	1,025,557
2026	917,925
2027	828,431
Thereafter	3,100,427
Total	$ 8,111,015

Leases - Tenant Purchase Option

Leases - Tenant Purchase Options (Details) $ in Thousands	Dec. 31, 2022 USD ($) property
Leases [Abstract]
2023 | $	$ 5,779
2024 | $	7,446
2025 | $	13,772
2026 | $	5,594
2027 | $	7,704
Thereafter | $	14,816
Total | $	$ 55,111
Number of Properties
2023 | property	7
2024 | property	3
2025 | property	16
2026 | property	3
2027 | property	5
Thereafter | property	4
Total | property	38

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Total lease expense	$ 16,689	$ 14,442	$ 13,601
Weighted average remaining lease term (years)	51 years	52 years
Weighted average discount rate, operating leases	4.20%	4.14%
Option to extend lease, term	67 years	68 years

Leases - Future Lease Obligatio

Leases - Future Lease Obligations (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 17,146
2024	13,126
2025	11,946
2026	11,875
2027	11,941
Thereafter	484,897
Undiscounted minimum lease payments included in the lease liability	550,931
Less: imputed interest	(342,416)
Present value of lease liability	$ 208,515

Leases - Depreciation Expense (

Leases - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
General and Administrative Expense
Lessor, Lease, Description [Line Items]
Depreciation expense related to corporate assets	$ 3	$ 2	$ 2
Other Assets
Lessor, Lease, Description [Line Items]
Accumulated depreciation related to corporate assets	$ 10	$ 7

Leases - Denver Office Relocati

Leases - Denver Office Relocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessor, Lease, Description [Line Items]
General and administrative	$ 131,033	$ 98,303	$ 93,237
Corporate Segment | Continuing Operations
Lessor, Lease, Description [Line Items]
General and administrative	$ 7,000

Leases - Covid Rent Deferrals (

Leases - Covid Rent Deferrals (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessor, Lease, Description [Line Items]
Rent deferred amount	$ 0	$ 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, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Unamortized discounts, fees, and costs	$ (808)	$ (4,186)
Reserve for loan losses	(8,280)	(1,813)	$ (10,280)
Loans receivable, net	374,832	415,811
Remaining loans receivable commitments	40,000	58,000
Secured loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	350,837	396,281
Reserve for loan losses	(8,280)	(1,804)	(3,152)
Mezzanine and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	33,083	25,529
Reserve for loan losses	$ 0	$ (9)	$ (7,128)

Loans Receivable - SHOP Seller

Loans Receivable - SHOP Seller Financing (Details) $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended			24 Months Ended
	Jul. 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jan. 31, 2021 USD ($) property	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2022
Loans receivable
Interest income						$ 23,300	$ 37,773	$ 16,553
Net cash provided by financing activities						(116,532)	(1,288,517)	246,450
Gain (loss) on sales of real estate, net						9,078	190,590	90,350
Loans receivable						374,832	415,811		$ 374,832
Senior Housing Operating Portfolio
Loans receivable
Proceeds from sale of buildings				$ 230,000
Net cash provided by financing activities				150,000
Gain (loss) on sales of real estate, net				59,000	$ 16,000
Loans receivable, market rate										5.25%
Non-cash interest income						3,000	13,000
Noncash interest income, acceleration recognition							7,000
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
Mortgage Receivable
Loans receivable
Interest income						22,000	36,000	$ 13,000
Senior Housing Operating Portfolio
Loans receivable
Net cash provided by financing activities				410,000
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Loans receivable
Capital expenditure funding, amount committed	$ 40,000			$ 92,000
Capital expenditure funding, cost of capital, percent committed				65%
Capital expenditure funding, amount funded									400
Senior Housing Operating Portfolio
Loans receivable
Number of assets sold | property				16
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Loans receivable
Number of assets sold | property				32
Proceeds from sale of buildings				$ 664,000
Proceeds from the collection of loans receivable	$ 27,000	$ 8,000	$ 246,000			10,000
Gain (loss) on sales of real estate, net			$ 7,000
Loans receivable						$ 120,000	$ 165,000		$ 120,000

Loans Receivable - 2022 Loans R

Loans Receivable - 2022 Loans Receivable Transactions (Details) - Secured Mortgage Loans $ in Millions		1 Months Ended
	Jan. 31, 2023 USD ($) loan	Feb. 28, 2023 USD ($)	Dec. 31, 2022 USD ($) loan	Nov. 30, 2022 USD ($)	May 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jul. 31, 2021 USD ($)	May 31, 2021 USD ($)	Jun. 30, 2022
Loans Receivable:
Principal repayments received				$ 1	$ 2	$ 15	$ 8	$ 10
Secured loan | loan			4
Outstanding balance			$ 61
Loans receivable, term			1 year
SOFR
Loans Receivable:
Variable rate			10.50%						8.50%
Subsequent Event
Loans Receivable:
Secured loan | loan	1
Outstanding balance	$ 150
Proceeds from the collection of loans receivable		$ 35

Loans Receivable - 2021 Loans R

Loans Receivable - 2021 Loans Receivable Transactions (Details)	1 Months Ended								3 Months Ended			12 Months Ended
	Nov. 30, 2022 USD ($)	May 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) loan	Jul. 31, 2021 USD ($)	May 31, 2021 USD ($) loan	Apr. 30, 2021 USD ($) loan property	Dec. 31, 2020 USD ($) loan	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($) loan	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Loans Receivable:
Loans receivable												$ 374,832,000	$ 415,811,000
Reserve for loans receivable								$ 10,280,000				$ 8,280,000	$ 1,813,000
Loss on sale of financing receivable									$ (23,000,000)		$ (42,000,000)
Number of loans sold | loan				1								2	6
Proceeds from sale of receivables				$ 2,000,000
Senior Housing Operating Portfolio | Mezzanine and Other | Discovery SHOP Portfolio
Loans Receivable:
Number of loans | loan							2
Loss on sale of financing receivable							$ 0
Number of loans sold | property							2
Secured Mortgage Loans
Loans Receivable:
Number of loans | loan								1		2
Financing receivable, gross								$ 115,000,000		$ 64,000,000
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	$ 1,000,000	$ 2,000,000		$ 15,000,000	$ 8,000,000	$ 10,000,000
Number of loans receivable | loan						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, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($) loan	Nov. 30, 2020 USD ($) loan	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($) loan	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Proceeds from sale of receivables		$ 2,000
Loss on sale of direct financing lease					$ (23,000)		$ (42,000)
Loans receivable								$ 415,811	$ 374,832
Mezzanine and Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans | loan				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]
Number of loans | loan			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
Loans receivable						$ 53,000
Brookedale MTCA | CCRC JV Investment | Other Non-Reporting Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable								$ 24,000	$ 33,000

Loans Receivable - Schedule o_2

Loans Receivable - Schedule of Loans Receivable by Origination Year (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Secured Mortgage Loans
Loans receivable
2022	$ 0
2021	266,197
2020	75,552
2019	0
2018	0
Prior	0
Total	341,749
Mezzanine and other
Loans receivable
2022	32,410
2021	595
2020	78
2019	0
2018	0
Prior	0
Total	33,083
Performing loans | Secured Mortgage Loans
Loans receivable
2022	0
2021	266,197
2020	75,552
2019	0
2018	0
Prior	0
Total	341,749
Performing loans | Mezzanine and other
Loans receivable
2022	32,410
2021	595
2020	78
2019	0
2018	0
Prior	0
Total	33,083
Watch list loans | Secured Mortgage Loans
Loans receivable
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	0
Total	0
Watch list loans | Mezzanine and other
Loans receivable
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	0
Total	0
Workout loans | Secured Mortgage Loans
Loans receivable
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	0
Total	0
Workout loans | Mezzanine and other
Loans receivable
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	0
Total	$ 0

Loans Receivable - Loan Losses

Loans Receivable - Loan Losses (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2021 loan	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		$ 1,813	$ 10,280
Provision for expected loan losses		6,534	1,689
Expected loan losses related to loans sold or repaid		(67)	(10,156)
Reserve for loan losses, end of period		$ 8,280	$ 1,813
Number of loans sold or repaid | loan	1	2	6
Credit loss reserve on unfunded loan commitments		$ 800	$ 300
Secured Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		1,804	3,152
Provision for expected loan losses		6,527	793
Expected loan losses related to loans sold or repaid		(51)	(2,141)
Reserve for loan losses, end of period		8,280	1,804
Mezzanine and Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period		9	7,128
Provision for expected loan losses		7	896
Expected loan losses related to loans sold or repaid		(16)	(8,015)
Reserve for loan losses, end of period		$ 0	$ 9

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
	Dec. 31, 2021 USD ($) property	Dec. 31, 2022 USD ($) property joint_venture
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 403,634	$ 706,677
Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures | joint_venture		2
HCP Ventures IV, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		20%
Suburban Properties, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		67%
H C P Ventures III, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		30%
Other | SWF SH JV
Schedule of Equity Method Investments [Line Items]
Property count | property		19
Investment ownership percentage		54%
Equity method investments	355,394	$ 345,978
Life Science | South San Francisco JVs
Schedule of Equity Method Investments [Line Items]
Property count | property		7
Investment ownership percentage		70%
Equity method investments	0	$ 309,969
Number of unconsolidated joint ventures | joint_venture		7
Life Science | Life Science JV
Schedule of Equity Method Investments [Line Items]
Property count | property		1
Investment ownership percentage		49%
Equity method investments	$ 25,605	$ 26,601
Life Science | Needham Land Parcel JV
Schedule of Equity Method Investments [Line Items]
Property count | property		0
Investment ownership percentage	38%	38%
Equity method investments	$ 13,566	$ 15,391
Payments to acquire equity method investments	$ 13,000
Medical office
Schedule of Equity Method Investments [Line Items]
Property count | property	4
Medical office | Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Property count | property		3
Equity method investments	$ 9,069	$ 8,738
Medical office | Medical Office JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		20%
Medical office | Medical Office JVs | Maximum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		67%

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Joint Ventures - Narrative (Details) $ in Millions			1 Months Ended		12 Months Ended
	Aug. 01, 2022 USD ($) property	Jan. 31, 2020 USD ($)	Jan. 31, 2022 USD ($)	May 31, 2021 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 30, 2021 property	Apr. 30, 2021	Apr. 30, 2021 preferred_equity_investment	Apr. 30, 2021 joint_venture
Schedule of Equity Method Investments [Line Items]
Difference between carrying amount and underlying equity					$ 41	$ 42
Gain (loss) on deconsolidation					$ 311
Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Cash proceeds		$ 385
Discovery Naples JV and Discovery Sarasota JV
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures | joint_venture										2
Discovery Naples JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage								41%
Discovery Sarasota JV
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage								47%
CCRV JV Investment | Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Number of properties sold | property				2
CCRC JV Investment
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		49%		49%
Proceeds from sale of buildings				$ 19
CCRC JV Investment | Brookedale MTCA
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of buildings				$ 38
Life Science
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of buildings			$ 14
Life Science | Life Science Joint Venture In San Francisco, California
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	70%
Property count | property	7
Life Science | Life Science Joint Venture In San Francisco, California | Life Science Joint Venture In San Francisco, California
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	30%
Cash proceeds	$ 126
Discovery SHOP Portfolio | Senior Housing Operating Portfolio
Schedule of Equity Method Investments [Line Items]
Number of preferred equity method investments sold							2		2

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangibles Lease Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangibles [Abstract]
Gross intangible lease assets	$ 770,285,000	$ 797,675,000
Accumulated depreciation and amortization	(352,224,000)	(277,915,000)
Intangible assets, net	$ 418,061,000	$ 519,760,000
Weighted average remaining amortization period in years	5 years	6 years
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 418,061,000	$ 519,760,000
Discontinued Operations, Held-for-sale or Disposed of by Sale
Intangibles [Abstract]
Intangible assets, net	2,000,000	0
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 2,000,000	$ 0

Intangibles - Schedule of Int_2

Intangibles - Schedule of Intangible Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangibles [Abstract]
Gross intangible lease liabilities	$ 237,464	$ 234,917
Accumulated depreciation and amortization	(81,271)	(57,685)
Intangible liabilities, net	$ 156,193	$ 177,232
Weighted average remaining amortization period in years	7 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, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangibles [Abstract]
Depreciation and amortization expense related to amortization of lease-up intangibles	$ 104,885	$ 106,106	$ 89,301
Rental and related revenues related to amortization of net below market lease liabilities	$ 24,640	$ 20,597	$ 11,717

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period in years			5 years	6 years
Weighted average remaining amortization period in years			7 years	8 years
Goodwill			$ 18,000,000	$ 18,000,000
Goodwill, impairment loss			$ 0	0	$ 0
Other Property
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period in years			11 years
Held-for-sale
Finite-Lived Intangible Assets [Line Items]
Goodwill				0
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			$ 7,000,000	109,000,000
Intangible liabilities acquired			$ 6,000,000	$ 57,000,000
Weighted average remaining amortization period in years			7 years	9 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, 2022	Dec. 31, 2021
Estimated aggregate amortization of Intangible Assets
Intangible assets, net	$ 418,061	$ 519,760
Rental and Related Revenues
Estimated aggregate amortization of Intangible Assets
2023	24,036
2024	22,913
2025	21,891
2026	19,397
2027	15,393
Thereafter	43,356
Intangible assets, net	146,986
Depreciation and Amortization
Estimated aggregate amortization of Intangible Assets
2023	99,784
2024	95,570
2025	83,984
2026	51,948
2027	26,349
Thereafter	51,219
Intangible assets, net	$ 408,854

Debt - Bank Line of Credit and

Debt - Bank Line of Credit and Term Loans (Details)			1 Months Ended			12 Months Ended
	Aug. 22, 2022 USD ($) loan	May 23, 2019 USD ($) renewal_option	Oct. 31, 2022 USD ($)	Sep. 30, 2021 USD ($) renewal_option	Jul. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) derivative_held	Aug. 31, 2022 derivative_held	May 31, 2019 USD ($)
Debt Instrument [Line Items]
Bank line of credit and commercial paper						$ 995,606,000	$ 1,165,975,000
Debt instrument, term (in months)						2 months	2 months
Long-term debt						$ 6,497,613,000
Interest rate swap instruments
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held							0
Interest rate swap instruments | Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held								2
Line of Credit and Term Loan
Debt Instrument [Line Items]
Debt instrument, covenant debt to assets (as a percent)						60%
Debt instrument, covenant secured debt to assets (as a percent)						40%
Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)						60%
Debt instrument, covenant minimum fixed charge coverage ratio						1.5
Debt instrument, covenant net worth						$ 7,700,000,000
2022 Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, covenant debt to assets (as a percent)						60%
Debt instrument, covenant secured debt to assets (as a percent)						40%
Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)						60%
Debt instrument, covenant minimum fixed charge coverage ratio						1.5
Number of loans | loan	2
Debt instrument, covenant net worth, minimum						$ 7,700,000,000
2022 Term Loan Agreement | Interest rate swap instruments
Debt Instrument [Line Items]
Fixed interest rate						3.77%
Bank Line of Credit
Debt Instrument [Line Items]
Long-term debt						$ 0
Bank Line of Credit | Revolving Credit Facility
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
Debt instrument, interest rate, reduction available for sustainability metrics						0.00025
Debt instrument, facility fee (as a percent)						0.15%
Bank line of credit and commercial paper						$ 0	$ 0
Line of credit facility additional aggregate amount, maximum						$ 750,000,000
Bank Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Loan, basis spread on variable rate						0.75%
Bank Line of Credit | 2019 Term Loan
Debt Instrument [Line Items]
Face amount									$ 250,000,000
Repayments of long-term lines of credit					$ 250,000,000
Bank Line of Credit | Term Loan Facilities | 2022 Term Loan Agreement
Debt Instrument [Line Items]
Length of debt instrument extension period	1 year
Face amount	$ 500,000,000
Debt instrument, interest rate, reduction available for sustainability metrics	0.0001
Debt instrument, period after closing	180 days
Debt instrument, term (in months)	4 years 6 months
Proceeds from draw of debt			$ 500,000,000
Long-term debt						$ 500,000,000
Margin rate (as a percent)						0.85%
Line of credit facility, loan feature, higher borrowing capacity option	$ 500,000,000
Bank Line of Credit | Term Loan Facilities One | 2022 Term Loan Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	250,000,000
Bank Line of Credit | Term Loan Facilities Two | 2022 Term Loan Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000,000
Debt instrument, term (in months)	5 years

Debt - Commercial Paper Program

Debt - Commercial Paper Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jul. 31, 2022
Debt Instrument [Line Items]
Term of facility	2 months	2 months
Weighted-average interest rate (as a percent)	4.90%	0.32%
Commercial Paper Program
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,500,000,000	$ 2,000,000,000
Short-term debt	$ 996,000,000	$ 1,170,000,000

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) $ in Thousands

12 Months Ended

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($) bond

Dec. 31, 2020 USD ($)

Jan. 17, 2023 USD ($)

Nov. 24, 2021 USD ($)

Jul. 12, 2021 USD ($)

May 19, 2021 USD ($)

Feb. 26, 2021 USD ($)

Jan. 28, 2021 USD ($)

Jul. 09, 2020 USD ($)

Jun. 24, 2020 USD ($)

Jun. 23, 2020 USD ($)

Debt Instrument [Line Items]

Long-term debt, gross

$ 6,540,817

Number of bond offerings | bond

2

Loss on extinguishment of debt

0

$ 225,824

$ 42,912

Senior Unsecured Notes

Debt Instrument [Line Items]

Long-term debt, gross

$ 4,700,000

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 5.25% | Subsequent Event

Debt Instrument [Line Items]

Face amount

$ 400,000

Interest rate (as a percent)

5.25%

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%

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%

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 During Year Ended December 31, 2021

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 225,000

Senior Unsecured Notes | Senior Notes During Year Ended December 31, 2020

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 44,000

Debt - Mortgage Debt (Details)

Debt - Mortgage Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) derivative_held facility	Dec. 31, 2021 USD ($) derivative_held facility	Dec. 31, 2020 USD ($)	Aug. 31, 2022 derivative_held	Apr. 30, 2022 derivative_held	Apr. 30, 2021 USD ($)	Jun. 23, 2020 USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,540,817
Cash Flow Hedging
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held	2
Interest rate swap instruments
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held		0
Interest rate swap instruments | Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held				2
Interest rate swap instruments | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held					2
Medical Office | Mortgage Debt
Debt Instrument [Line Items]
Face amount						$ 142,000
Mortgage Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 345,211	$ 350,000
Number of healthcare facilities used to secure debt (in facilities) | facility	18	18
Debt instrument, collateral, healthcare facilities carrying value	$ 793,000	$ 811,000
Debt instrument, periodic payment, principal	5,000	9,000	$ 5,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 4,700,000	$ 4,700,000
Senior Unsecured Notes | Senior Unsecured Notes 2.88%
Debt Instrument [Line Items]
Face amount							$ 600,000
Interest rate (as a percent)							2.88%

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	$ 90,089
2024	7,024
2025	803,209
2026	1,890,129
2027	950,366
Thereafter	2,800,000
Long-term debt, gross	6,540,817
Premiums, (discounts), and debt issuance costs, net	(43,204)
Long-term debt	$ 6,497,613
Weighted-average interest rate (as a percent)	4.90%	0.32%
Bank Line of Credit
Debt Instrument [Line Items]
2023	$ 0
2024	0
2025	0
2026	0
2027	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]
2023	0
2024	0
2025	0
2026	995,606
2027	0
Thereafter	0
Long-term debt, gross	995,606
Premiums, (discounts), and debt issuance costs, net	0
Long-term debt	995,606
Term Loans
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	500,000
Thereafter	0
Long-term debt, gross	500,000
Premiums, (discounts), and debt issuance costs, net	(4,043)
Long-term debt	495,957
Senior Unsecured Notes
Debt Instrument [Line Items]
2023	0
2024	0
2025	800,000
2026	650,000
2027	450,000
Thereafter	2,800,000
Long-term debt, gross	4,700,000	$ 4,700,000
Premiums, (discounts), and debt issuance costs, net	(40,549)
Long-term debt	$ 4,659,451
Weighted-average interest rate (as a percent)	3.37%
Weighted-average maturity	6 years
Senior Unsecured Notes | 2023
Debt Instrument [Line Items]
Interest rate (as a percent)	0%
Senior Unsecured Notes | 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	0%
Senior Unsecured Notes | 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	3.92%
Senior Unsecured Notes | 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	3.40%
Senior Unsecured Notes | 2027
Debt Instrument [Line Items]
Interest rate (as a percent)	1.54%
Senior Unsecured Notes | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	3.50%
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)	6.87%
Mortgage Debt
Debt Instrument [Line Items]
2023	$ 90,089
2024	7,024
2025	3,209
2026	244,523
2027	366
Thereafter	0
Long-term debt, gross	345,211	$ 350,000
Premiums, (discounts), and debt issuance costs, net	1,388
Long-term debt	$ 346,599
Weighted-average interest rate (as a percent)	4.33%
Weighted-average maturity	3 years
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)	6.14%
Mortgage Debt | 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	3.82%
Mortgage Debt | 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	4.48%
Mortgage Debt | 2027
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%
Mortgage Debt | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	0%
Mortgage Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	3.44%
Mortgage Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)	7.93%

Commitments and Contingencies -

Commitments and Contingencies - DownREIT LLCs (Details)	Dec. 31, 2022 property
Life Science JV | Life Science
Loss Contingencies [Line Items]
Investment ownership percentage	49%
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, 2022 USD ($)
Other Commitments [Line Items]
Commitments	$ 292,188
Development and redevelopment commitments
Other Commitments [Line Items]
Commitments	219,059
Lease and other contractual commitments
Other Commitments [Line Items]
Commitments	33,164
Construction loan commitments
Other Commitments [Line Items]
Commitments	$ 39,965

Commitments and Contingencies_3

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

Equity and Redeemable Noncont_3

Equity and Redeemable Noncontrolling Interests - Dividends (Details) - $ / shares		12 Months Ended
	Feb. 01, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 1.20	$ 1.20	$ 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 ($)		1 Months Ended	12 Months Ended
	Apr. 30, 2021	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net			$ 309,417,000	$ 1,745,000	$ 1,067,071,000
At-The-Market 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	9,100,000	2,000,000
Forward rate per share (in dollars per share)			$ 34.01	$ 35.25	$ 35.23
Settlement alternatives, fair value (in shares)				0
Forward contract, outstanding (in shares)			0		0
Issuance of common stock, net			$ 308,000,000
At-The-Market Program | Previous 2019 ATM Program
Subsidiary or Equity Method Investee [Line Items]
Forward rate per share (in dollars per share)					$ 31.38
Settlement alternatives, fair value (in shares)					16,800,000
Issuance of common stock, net					$ 528,000,000
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
ATM Direct Issuances | Common Stock
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net (in shares)			0	0	0

Equity and Redeemable Noncont_5

Equity and Redeemable Noncontrolling Interests - Forward Equity Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended			14 Months Ended
	Nov. 30, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Issuance of common stock, net		$ 309,417	$ 1,745	$ 1,067,071
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	$ 1,060,000
Issuance of common stock, net (in shares)		0	0	0
2019 Forward Equity Offering | Maximum
Noncontrolling Interest [Line Items]
Sale of stock (in dollars per share)				$ 34.18	$ 34.18

Equity and Redeemable Noncont_6

Equity and Redeemable Noncontrolling Interests - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2022	Aug. 01, 2022
Equity [Abstract]
Stock repurchase program, authorized amount		$ 500,000,000
Common stock repurchased (in shares)	2.1
Average cost per share (in dollars per share)	$ 27.16
Stock repurchase program, total value	$ 56,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 444,000,000

Equity and Redeemable Noncont_7

Equity and Redeemable Noncontrolling Interests - Schedule of Other Common Stock Activities (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Dividend Reinvestment and Stock Purchase Plan (in shares)	59	81	181
Conversion of DownREIT units (in shares)	27	8	120
Exercise of stock options (in shares)	0	97	54
Vesting of restricted stock units (in shares)	820	924	668
Repurchase of common stock (in shares)	2,418	418	298

Equity and Redeemable Noncont_8

Equity and Redeemable Noncontrolling Interests - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) plan_participant	Dec. 31, 2021 USD ($)
Equity [Abstract]
Unrealized gains (losses) on derivatives, net	$ 30,145	$ 0
Supplemental Executive Retirement Plan minimum liability	(2,011)	(3,147)
Total accumulated other comprehensive income (loss)	$ 28,134	$ (3,147)
Number of plan participants | plan_participant	1

Equity and Redeemable Noncont_9

Equity and Redeemable Noncontrolling Interests - Noncontrolling Interests Narrative (Details) $ in Thousands, shares in Millions	12 Months Ended		24 Months Ended
	Dec. 31, 2022 USD ($) entity interest shares	Dec. 31, 2021 USD ($) interest shares	Dec. 31, 2024 interest
Noncontrolling Interest [Line Items]
Number of redeemable noncontrolling interest redemptions | interest	1	1
Payments for redeemable noncontrolling interest		$ 60,000
Number of redeemable noncontrolling interests, redeemable over time | interest	3
Non-managing member unitholders	$ 200,176	$ 201,056
Forecast
Noncontrolling Interest [Line Items]
Number of redeemable noncontrolling interests, redeemable over time | interest			2
Total Noncontrolling Interests
Noncontrolling Interest [Line Items]
Non-managing members DownREIT units outstanding (in shares) | shares	5	5
Conversion of DownREIT units (in shares) | shares	7
Number of DownREIT LLCs (in entities) | entity	7,000,000
Non-managing member unitholders	$ 200,000	$ 201,000
DownREIT unit, fair value	$ 183,000	$ 264,000

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average incremental shares from forward equity sales agreements (in shares)	0	1	201
Down REIT
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, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Income (loss) from continuing operations	$ 9,929	$ 359,284	$ 69,301	$ 75,026	$ 28,943	$ 61,305	$ 168,065	$ (120,585)	$ 513,540	$ 137,728	$ 160,507
Noncontrolling interests’ share in continuing operations									(15,975)	(17,851)	(14,394)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.									497,565	119,877	146,113
Less: Participating securities’ share in continuing operations									(2,657)	(3,269)	(2,416)
Income (loss) from continuing operations applicable to common shares									494,908	116,608	143,697
Income (loss) from discontinued operations	$ 873	$ (1,298)	$ 2,992	$ 317	$ 3,633	$ 601	$ 113,960	$ 270,008	2,884	388,202	267,746
Noncontrolling interests’ share in discontinued operations									0	(2,539)	(296)
Net income (loss) applicable to common shares									497,792	502,271	411,147
Net income (loss) applicable to common shares									$ 497,792	$ 502,271	$ 411,147
Denominator
Basic weighted average shares outstanding (in shares)									538,809	538,930	530,555
Dilutive potential common shares - equity awards (in shares)									338	310	300
Dilutive potential common shares - forward equity agreements (in shares)									0	1	201
Diluted (in shares)									539,147	539,241	531,056
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.01	$ 0.66	$ 0.12	$ 0.13	$ 0.05	$ 0.10	$ 0.30	$ (0.23)	$ 0.92	$ 0.22	$ 0.27
Discontinued operations (in dollars per share)	0	0	0.01	0	0	0	0.21	0.50	0	0.71	0.50
Net income (loss) applicable to common shares (in dollars per share)									0.92	0.93	0.77
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.01	0.65	0.12	0.13	0.05	0.10	0.30	(0.23)	0.92	0.22	0.27
Discontinued operations (in dollars per share)	$ 0	$ 0	$ 0.01	$ 0	$ 0	$ 0	$ 0.21	$ 0.50	0	0.71	0.50
Net income (loss) applicable to common shares (in dollars per share)									$ 0.92	$ 0.93	$ 0.77
Outstanding equity awards (in shares)									1,000	1,000	1,000
Forward sales agreements that have not been settled (in shares)									9,100
Forward sales agreements that have been settled (in shares)										9,100	32,000

Compensation Plans - Stock Base

Compensation Plans - Stock Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 32	$ 23	$ 21
Share-based payment arrangement, amount capitalized	4	$ 3	$ 2
Accelerated cost	10
Nonvested award, cost not yet recognized, amount	$ 19
Total unrecognized compensation cost, period of recognition	1 year 6 months
Accounts Payable and Accrued Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Severance costs	$ 15
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)	25,000,000
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)	16,000,000

Compensation Plans - Departure

Compensation Plans - Departure of Executives (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated cost		$ 10
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Severance costs	$ 33

Compensation Plans - Stock Opti

Compensation Plans - Stock Options (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares exercisable (in shares)	0.3	0.4
Total share-based compensation expense recognized	$ 32,000,000	$ 23,000,000	$ 21,000,000
Common Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares outstanding (in shares)	0.3	0.4
Proceeds received from options exercised	$ 0	$ 3,000,000	2,000,000
Total share-based compensation expense recognized	$ 0	$ 0	$ 0

Compensation Plans - Restricted

Compensation Plans - Restricted Stock Awards (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Restricted Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	6 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Expected term	3 years	3 years	3 years
Volatility rate	38.90%	39.10%	20%
Expected dividend yield	3.50%	4%	4.20%
Risk free interest rate	1.80%	0.20%	1.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Discount for Postvesting Restrictions	5.80%	12.90%	0%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance metrics during performance period	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance metrics during performance period	200%
Restricted Stock and Performance Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant date fair value	$ 27	$ 23	$ 24
Total fair values (at vesting) of restricted stock and restricted stock units vested	$ 27	$ 29	$ 20
Shares withheld to offset tax withholding obligations (in shares)	356	418	298

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, 2022 $ / shares shares
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	1,692
Granted (in shares) | shares	983
Vested (in shares) | shares	(820)
Forfeited (in shares) | shares	(146)
Unvested at the end of the period (in shares) | shares	1,709
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 33.72
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	32.94
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	32.87
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	34.02
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 33.66

Segment Disclosures - Narrative

Segment Disclosures - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of facilities owned by unconsolidated joint venture | property	19
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

Segment Disclosures - Summary I

Segment Disclosures - Summary Information for the Reportable Segments (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended								12 Months Ended
	Jul. 31, 2022	Jan. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues			$ 524,468	$ 520,406	$ 517,932	$ 498,372	$ 483,205	$ 481,465	$ 476,238	$ 455,276	$ 2,061,178	$ 1,896,184	$ 1,644,875
Government grant income											6,765	1,412	16,198
Less: Interest income											(23,300)	(37,773)	(16,553)
Healthpeak’s share of unconsolidated joint venture total revenues											86,805	83,377	112,635
Healthpeak’s share of unconsolidated joint venture government grant income											878	1,749	1,279
Noncontrolling interests’ share of consolidated joint venture total revenues											(35,985)	(35,655)	(34,836)
Operating expenses											(862,991)	(773,279)	(782,541)
Healthpeak’s share of unconsolidated joint venture operating expenses											(61,693)	(61,515)	(87,170)
Noncontrolling interests’ share of consolidated joint venture operating expenses											10,404	10,158	10,354
Adjustments to NOI											(75,798)	(54,513)	71,828
Adjusted NOI											1,106,263	1,030,145	936,069
Plus: Adjustments to NOI											75,798	54,513	(71,828)
Interest income											23,300	37,773	16,553
Interest expense											(172,944)	(157,980)	(218,336)
Depreciation and amortization											(710,569)	(684,286)	(553,949)
General and administrative											(131,033)	(98,303)	(93,237)
Transaction costs											(4,853)	(1,841)	(18,342)
Impairments and loan loss reserves, net											(7,004)	(23,160)	(42,909)
Gain (loss) on sales of real estate, net											9,078	190,590	90,350
Gain (loss) on debt extinguishments											0	(225,824)	(42,912)
Other income (expense), net											326,268	6,266	234,684
Less: Government grant income											(6,765)	(1,412)	(16,198)
Less: Healthpeak’s share of unconsolidated joint venture NOI											(25,990)	(23,611)	(26,744)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI											25,581	25,497	24,482
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures											507,130	128,367	217,683
Income tax benefit (expense)											4,425	3,261	9,423
Equity income (loss) from unconsolidated joint ventures											1,985	6,100	(66,599)
Income (loss) from continuing operations			9,929	359,284	69,301	75,026	28,943	61,305	168,065	(120,585)	513,540	137,728	160,507
Income (loss) from discontinued operations			873	(1,298)	2,992	317	3,633	601	113,960	270,008	2,884	388,202	267,746
Net income (loss)			$ 10,802	$ 357,986	72,293	$ 75,343	$ 32,576	$ 61,906	$ 282,025	$ 149,423	516,424	525,930	428,253
Tax benefit recognized in conjunction with internal restructuring activities													51,000
Valuation allowance on deferred assets no longer realized													33,000
Tax benefit recognized from CARES Act													3,700
Corporate Non-segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues											0	0	0
Government grant income											0	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	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											(158,535)	(147,210)	(210,475)
Depreciation and amortization											0	0	0
General and administrative											(131,033)	(98,303)	(93,237)
Transaction costs											(2,486)	0	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												(225,824)	(42,912)
Other income (expense), net											3,013	6,309	5,133
Less: Government grant income											0	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											(289,041)	(465,028)	(341,491)
Income tax benefit (expense)											4,425	3,261	9,423
Equity income (loss) from unconsolidated joint ventures											0	0	0
Income (loss) from continuing operations											(284,616)	(461,767)	(332,068)
Income (loss) from discontinued operations											2,884	388,202	267,746
Net income (loss)											(281,732)	(73,565)	(64,322)
Life Science
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Gain (loss) on sales of real estate, net		$ 4,000
Life Science | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues											817,573	715,844	569,296
Government grant income											0	0	0
Less: Interest income											0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues											9,921	5,757	448
Healthpeak’s share of unconsolidated joint venture government grant income											0	0	0
Noncontrolling interests’ share of consolidated joint venture total revenues											(268)	(292)	(239)
Operating expenses											(209,143)	(169,044)	(138,005)
Healthpeak’s share of unconsolidated joint venture operating expenses											(2,883)	(1,836)	(137)
Noncontrolling interests’ share of consolidated joint venture operating expenses											87	87	72
Adjustments to NOI											(62,754)	(46,589)	(20,133)
Adjusted NOI											552,533	503,927	411,302
Plus: Adjustments to NOI											62,754	46,589	20,133
Interest income											0	0	0
Interest expense											0	(232)	(234)
Depreciation and amortization											(302,649)	(303,196)	(217,921)
General and administrative											0	0	0
Transaction costs											(387)	(24)	(236)
Impairments and loan loss reserves, net											0	0	(14,671)
Gain (loss) on sales of real estate, net											3,744	0	0
Gain (loss) on debt extinguishments												0	0
Other income (expense), net											311,939	55	0
Less: Government grant income											0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI											(7,038)	(3,921)	(311)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI											181	205	167
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures											621,077	243,403	198,229
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											(972)	1,118	(40)
Income (loss) from continuing operations											620,105	244,521	198,189
Income (loss) from discontinued operations											0	0	0
Net income (loss)											620,105	244,521	198,189
Medical Office
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Gain (loss) on sales of real estate, net	$ 1,000				$ 10,000
Medical Office | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues											725,370	671,242	622,398
Government grant income											0	0	0
Less: Interest income											0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues											2,999	2,882	2,772
Healthpeak’s share of unconsolidated joint venture government grant income											0	0	0
Noncontrolling interests’ share of consolidated joint venture total revenues											(35,717)	(35,363)	(34,597)
Operating expenses											(253,309)	(223,383)	(204,008)
Healthpeak’s share of unconsolidated joint venture operating expenses											(1,178)	(1,174)	(1,129)
Noncontrolling interests’ share of consolidated joint venture operating expenses											10,317	10,071	10,282
Adjustments to NOI											(15,513)	(11,118)	(5,544)
Adjusted NOI											432,969	413,157	390,174
Plus: Adjustments to NOI											15,513	11,118	5,544
Interest income											0	0	0
Interest expense											(6,900)	(2,837)	(400)
Depreciation and amortization											(279,546)	(255,746)	(222,165)
General and administrative											0	0	0
Transaction costs											(1,255)	(323)	0
Impairments and loan loss reserves, net											0	(21,577)	(10,208)
Gain (loss) on sales of real estate, net											10,659	190,590	90,390
Gain (loss) on debt extinguishments												0	0
Other income (expense), net											12,709	(2,725)	0
Less: Government grant income											0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI											(1,821)	(1,708)	(1,643)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI											25,400	25,292	24,315
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures											207,728	355,241	276,007
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											852	794	798
Income (loss) from continuing operations											208,580	356,035	276,805
Income (loss) from discontinued operations											0	0	0
Net income (loss)											208,580	356,035	276,805
CCRC | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues											494,935	471,325	436,494
Government grant income											6,765	1,412	16,198
Less: Interest income											0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues											0	6,903	35,392
Healthpeak’s share of unconsolidated joint venture government grant income											380	200	920
Noncontrolling interests’ share of consolidated joint venture total revenues											0	0	0
Operating expenses											(400,539)	(380,865)	(440,528)
Healthpeak’s share of unconsolidated joint venture operating expenses											0	(6,639)	(32,125)
Noncontrolling interests’ share of consolidated joint venture operating expenses											0	0	0
Adjustments to NOI											2,300	3,241	97,072
Adjusted NOI											103,841	95,577	113,423
Plus: Adjustments to NOI											(2,300)	(3,241)	(97,072)
Interest income											0	0	0
Interest expense											(7,509)	(7,701)	(7,227)
Depreciation and amortization											(128,374)	(125,344)	(113,851)
General and administrative											0	0	0
Transaction costs											(725)	(1,445)	(17,994)
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
Other income (expense), net											(1,380)	2,141	187,844
Less: Government grant income											(6,765)	(1,412)	(16,198)
Less: Healthpeak’s share of unconsolidated joint venture NOI											(380)	(464)	(4,187)
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											(43,592)	(41,889)	44,738
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											539	1,484	(1,547)
Income (loss) from continuing operations											(43,053)	(40,405)	43,191
Income (loss) from discontinued operations											0	0	0
Net income (loss)											(43,053)	(40,405)	43,191
Other Non-Reporting Segment | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues											23,300	37,773	16,687
Government grant income											0	0	0
Less: Interest income											(23,300)	(37,773)	(16,553)
Healthpeak’s share of unconsolidated joint venture total revenues											73,885	67,835	74,023
Healthpeak’s share of unconsolidated joint venture government grant income											498	1,549	359
Noncontrolling interests’ share of consolidated joint venture total revenues											0	0	0
Operating expenses											0	13	0
Healthpeak’s share of unconsolidated joint venture operating expenses											(57,632)	(51,866)	(53,779)
Noncontrolling interests’ share of consolidated joint venture operating expenses											0	0	0
Adjustments to NOI											169	(47)	433
Adjusted NOI											16,920	17,484	21,170
Plus: Adjustments to NOI											(169)	47	(433)
Interest income											23,300	37,773	16,553
Interest expense											0	0	0
Depreciation and amortization											0	0	(12)
General and administrative											0	0	0
Transaction costs											0	(49)	(112)
Impairments and loan loss reserves, net											(7,004)	(1,583)	(18,030)
Gain (loss) on sales of real estate, net											(5,325)	0	(40)
Gain (loss) on debt extinguishments												0	0
Other income (expense), net											(13)	486	41,707
Less: Government grant income											0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI											(16,751)	(17,518)	(20,603)
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											10,958	36,640	40,200
Income tax benefit (expense)											0	0	0
Equity income (loss) from unconsolidated joint ventures											1,566	2,704	(65,810)
Income (loss) from continuing operations											12,524	39,344	(25,610)
Income (loss) from discontinued operations											0	0	0
Net income (loss)											$ 12,524	$ 39,344	$ (25,610)

Segment Disclosures - Revenues

Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Disclosure
Total assets	$ 15,771,229	$ 15,257,519
Assets held for sale and discontinued operations, net	49,866	37,190
Operating segment
Segment Disclosure
Gross assets	17,588,155	16,643,879
Accumulated depreciation and amortization	(3,540,362)	(3,125,416)
Total assets	14,047,793	13,518,463
Operating segment | Life Science
Segment Disclosure
Gross assets	9,019,271	8,257,990
Operating segment | Medical Office
Segment Disclosure
Gross assets	6,291,986	6,152,512
Operating segment | CCRC
Segment Disclosure
Gross assets	2,276,898	2,233,377
Operating segment | Other Non-reportable
Segment Disclosure
Total assets	744,550	794,172
Other non-segment
Segment Disclosure
Total assets	$ 929,020	$ 907,694

Income Taxes - Schedule of Comm

Income Taxes - Schedule of Common Stock Distribution (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 1.200000	$ 1.200000	$ 1.480000
Qualified business income for purpose of Code Section 199A (in dollars per share)	0.872948	0.137064	0.713864
Qualified dividend income for purposes of Code Section 1(h)(11) (in dollars per share)		0.015272
Unrecaptured Section 1250 gain (in dollars per share)	$ 0.017760	$ 0.379960	$ 0.221420
Section 1231, capital distribution percentage	89.6708%
Section 897, capital distribution percentage	10.3292%	100%	100%
Ordinary dividends
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.872948	$ 0.152336	$ 0.713864
Capital gains
Dividends Payable [Line Items]
Dividends (in dollars per share)	0.183208	0.379960	0.529796
Nondividend distributions
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.143844	$ 0.667704	$ 0.236340

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes	$ 509,000,000	$ 134,000,000	$ 151,000,000
Income (loss) before income taxes	507,130,000	128,367,000	217,683,000
Income tax benefit (expense)	300,000	1,000,000	10,000,000
Deferred income tax expense (benefit)	(6,001,000)	(5,792,000)	(14,573,000)
Net operating loss carryforward	62,280,000	71,744,000	68,444,000
Unrecognized tax benefits	0	469,000	469,000	$ 469,000
Down REIT
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes	527,000,000	150,000,000	80,000,000
TRS
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes	(18,000,000)	(16,000,000)	71,000,000
Deferred income tax expense (benefit)	26,000,000	$ 36,000,000	$ 33,000,000
Net operating loss carryforward	249,000,000
Net operating loss carryforwards subject to expiration	15,000,000
Net operating loss carryforwards not subject to expiration	$ 234,000,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ (632)	$ (126)	$ 9,164
State	(689)	(1,003)	(1,431)
Total current	(1,321)	(1,129)	7,733
Deferred
Federal	3,157	3,469	2,849
State	2,589	921	(1,159)
Total deferred	5,746	4,390	1,690
Total income tax benefit (expense) from continuing operations	$ 4,425	$ 3,261	$ 9,423

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax	$ 3,698	$ 3,345	$ (15,016)
State income tax benefit (expense), net of federal tax	911	706	(4,211)
Gross receipts and margin taxes	(956)	(989)	(980)
Return to provision adjustments	1,260	(4)	(707)
Valuation allowance for deferred tax assets	194	203	(24,051)
Tax rate differential ─ NOL carryback under the CARES Act	0	0	3,732
Change in tax status of TRS	(682)	0	50,656
Total income tax benefit (expense) from continuing operations	$ 4,425	$ 3,261	$ 9,423

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Deferred revenue	$ 102,504	$ 104,397	$ 103,713
Net operating loss carryforward	62,280	71,744	68,444
Expense accruals	12,399	14,229	15,478
Real estate	150	129	3,895
Investment in unconsolidated joint ventures	0	0	2,333
Other	689	0	0
Total deferred tax assets	178,022	190,499	193,863
Valuation allowance	(26,098)	(35,772)	(33,519)
Deferred tax assets, net of valuation allowance	151,924	154,727	160,344
Deferred tax liabilities:
Real estate	52,266	61,097	72,059
Other	674	648	1,094
Deferred tax liabilities	52,940	61,745	73,153
Net deferred tax assets	$ 98,984	$ 92,982	$ 87,191

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total unrecognized tax benefits at January 1	$ 469,000	$ 469,000	$ 469,000
Gross amount of decreases for prior years’ tax positions	(469,000)	0	0
Total unrecognized tax benefits at December 31	$ 0	$ 469,000	$ 469,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental cash flow information:
Interest paid, net of capitalized interest	$ 162,115	$ 173,044	$ 209,843
Income taxes paid (refunded)	(1,903)	4,521	(786)
Capitalized interest	41,046	24,084	27,041
Cash paid for amounts included in the measurement of lease liability for operating leases	12,594	10,620	9,940
Supplemental schedule of non-cash investing and financing activities:
Increase in ROU asset in exchange for new lease liability related to operating leases	9,454	28,866	32,208
Decrease in ROU asset with corresponding change in lease liability related to operating leases	0	8,410	0
Retained investment in connection with South San Francisco JVs transaction	293,265	0	0
Accrued construction costs	178,626	179,995	95,293
Net noncash impact from the consolidation of previously unconsolidated joint ventures	0	0	369,223
Refundable entrance fees assumed with real estate acquisitions	0	0	307,954
Seller financing provided on disposition of real estate asset	0	559,745	73,498
Mortgages assumed with real estate acquisitions	0	0	251,280
Carrying value of mortgages assumed by buyer in real estate dispositions	$ 0	$ 143,676	$ 0

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Leasing costs, tenant improvements, and recurring capital expenditures	$ 108,510	$ 111,480	$ 94,121
Development, redevelopment, and other major improvements of real estate	861,636	610,555	791,566
Depreciation and amortization of real estate, in-place lease, and other intangibles	710,569	684,286	553,949
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Leasing costs, tenant improvements, and recurring capital expenditures	21	2,636	12,695
Development, redevelopment, and other major improvements of real estate	18	5,780	30,769
Depreciation and amortization of real estate, in-place lease, and other intangibles	$ 0	$ 0	$ 143,194

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information - Summary of cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Continuing operations
Cash and cash equivalents	$ 72,032	$ 158,287	$ 44,226	$ 80,398
Restricted cash	54,802	53,454	67,206	13,385
Cash, cash equivalents and restricted cash	126,834	211,741	111,432	93,783
Discontinued operations
Cash and cash equivalents	0	7,707	53,085	63,834
Restricted cash	0	0	17,168	27,040
Cash, cash equivalents and restricted cash	0	7,707	70,253	90,874
Cash and cash equivalents	72,032	165,994	97,311	144,232
Restricted cash	54,802	53,454	84,374	40,425
Cash, cash equivalents and restricted cash	$ 126,834	$ 219,448	$ 181,685	$ 184,657

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($) joint_venture	Dec. 31, 2022 USD ($) joint_venture hospital	Dec. 31, 2021 USD ($) property joint_venture
Variable Interest Entity [Line Items]
Number of hospitals | hospital		3
Carrying value of exchange accommodation titleholder, carrying value | $	$ 77		$ 77
Life Science | Needham Land Parcel JV
Variable Interest Entity [Line Items]
Investment ownership percentage	38%	38%	38%
Payments to acquire equity method investments | $	$ 13
Life Science | Life Science JV
Variable Interest Entity [Line Items]
Investment ownership percentage		49%
Medical Office
Variable Interest Entity [Line Items]
Number of properties acquired | property			2
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures | joint_venture	2	2	2
Number of VIE borrowers with marketable debt securities | joint_venture	1	1	1
Variable Interest Entity, Not Primary Beneficiary | Commercial Mortgage-Backed Securities
Variable Interest Entity [Line Items]
Debt securities | $		$ 22
Ventures V, LLC
Variable Interest Entity [Line Items]
Ownership percentage		51%
MSREI MOB JV
Variable Interest Entity [Line Items]
Ownership percentage		51%
DownREIT Partnerships
Variable Interest Entity [Line Items]
Controlling interest entity controlling ownership interest | joint_venture		7
Life Science JV
Variable Interest Entity [Line Items]
Ownership percentage		99%

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
CMBS and LLC investment
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 36,874
Needham Land Parcel JV
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 15,391

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Buildings and improvements	$ 12,784,078	$ 12,025,271
Development costs and construction in progress	760,355	877,423
Land	2,667,188	2,603,964
Accumulated depreciation and amortization	(3,188,138)	(2,839,229)
Net real estate	13,023,483	12,667,429
Accounts receivable, net	53,436	48,691
Cash and cash equivalents	72,032	158,287	$ 44,226	$ 80,398
Intangible assets, net	418,061	519,760
Assets held for sale and discontinued operations, net	49,866	37,190
Right-of-use asset, net	237,318	233,942
Other assets, net	780,722	674,615
Total assets	15,771,229	15,257,519
LIABILITIES AND EQUITY
Mortgage debt	346,599	352,081
Intangible liabilities, net	156,193	177,232
Liabilities related to assets held for sale and discontinued operations, net	4,070	15,056
Lease liability	208,515	204,547
Accounts payable, accrued liabilities, and other liabilities	772,485	755,384
Deferred revenue	844,076	789,207
Total liabilities	8,482,952	8,111,415
Variable Interest Entity
ASSETS
Buildings and improvements	2,356,905	2,303,920
Development costs and construction in progress	58,499	82,303
Land	324,714	548,168
Accumulated depreciation and amortization	(623,244)	(551,097)
Net real estate	2,116,874	2,383,294
Accounts receivable, net	6,893	5,455
Cash and cash equivalents	20,586	22,295
Restricted cash	354	114
Intangible assets, net	73,860	117,180
Assets held for sale and discontinued operations, net	30,355	754
Right-of-use asset, net	99,376	107,993
Other assets, net	73,690	62,886
Total assets	2,421,988	2,699,971
LIABILITIES AND EQUITY
Mortgage debt	144,604	144,350
Intangible liabilities, net	15,066	23,909
Liabilities related to assets held for sale and discontinued operations, net	401	1,677
Lease liability	99,039	99,213
Accounts payable, accrued liabilities, and other liabilities	68,979	58,440
Deferred revenue	39,661	21,546
Total liabilities	367,750	349,135
Discontinued Operations | Variable Interest Entity
ASSETS
Buildings and improvements	39,934	0
Development costs and construction in progress	0	0
Land	1,926	0
Accumulated depreciation and amortization	(15,612)	0
Net real estate	26,248	0
Accounts receivable, net	0	62
Cash and cash equivalents	0	59
Intangible assets, net	215	0
Other assets, net	3,892	633
Total assets	30,355	754
LIABILITIES AND EQUITY
Accounts payable, accrued liabilities, and other liabilities	0	1,677
Deferred revenue	401	0
Total liabilities	$ 401	$ 1,677

Concentration of Credit Risk -

Concentration of Credit Risk - Schedule of Geographical Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Percentage of Total Company Revenues | Customer Concentration Risk | Life Science | Largest Tenant
Concentration Risk [Line Items]
Concentration risk (as a percent)	2%
Percentage of Total Company Revenues | Customer Concentration Risk | Medical Office | Largest Tenant
Concentration Risk [Line Items]
Concentration risk (as a percent)	8%
California | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	37%	34%
California | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	31%	28%	21%
Florida | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	10%	11%
Florida | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	18%	17%	14%
Texas | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	10%	10%
Texas | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	11%	11%	9%
Massachusetts | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	17%	16%
Massachusetts | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	10%	9%	4%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Summary of financial instruments
Bank line of credit and commercial paper	$ 995,606	$ 1,165,975
Senior unsecured notes	4,659,451	4,651,933
Mortgage debt	346,599	352,081
Carrying Value
Summary of financial instruments
Loans receivable, net	374,832	415,811
Marketable debt securities	21,702	21,003
Bank line of credit and commercial paper	995,606	1,165,975
Term loan	495,957	0
Senior unsecured notes	4,659,451	4,651,933
Mortgage debt	346,599	352,081
Carrying Value | Interest rate swap instruments
Summary of financial instruments
Interest rate instruments	30,259	0
Carrying Value | Interest rate cap instruments
Summary of financial instruments
Interest rate instruments	0	397
Fair Value | Level 1
Summary of financial instruments
Senior unsecured notes	4,238,124	5,054,747
Fair Value | Level 2
Summary of financial instruments
Loans receivable, net	369,425	437,607
Marketable debt securities	21,702	21,003
Bank line of credit and commercial paper	995,606	1,165,975
Term loan	495,957	0
Mortgage debt	330,867	352,800
Fair Value | Level 2 | Interest rate swap instruments
Summary of financial instruments
Interest rate instruments	30,259	0
Fair Value | Level 2 | Interest rate cap instruments
Summary of financial instruments
Interest rate instruments	$ 0	$ 397

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) $ in Millions	1 Months Ended			12 Months Ended
	Apr. 30, 2021 USD ($) property derivative_held	Mar. 31, 2021 USD ($) derivative_held property	Dec. 31, 2020 USD ($) property	Dec. 31, 2022 USD ($) derivative_held	Aug. 31, 2022 USD ($) derivative_held	Apr. 30, 2022 derivative_held	Dec. 31, 2021 derivative_held	May 31, 2021 property
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset at fair value, changes in fair value resulting from changes in assumptions | $				$ 23
Repayments of secured debt | $			$ 6
Number of assets classified as discontinued operations | property			1
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held				2
Interest rate swap instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held							0
Interest rate swap instruments | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held					2
Derivative amount terminated | $					$ 500
Interest rate swap instruments | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held						2
Interest rate cap instruments | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held	2
Derivative amount terminated | $	$ 142
Increase in the fair value of the interest rate cap agreements | $				$ 2
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
Mortgage Debt | Interest rate swap instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives terminated | derivative_held		2

Derivative Financial Instrume_4

Derivative Financial Instruments - Financial Instruments (Details) $ in Thousands	Dec. 31, 2022 USD ($) derivative_held	Aug. 31, 2022 derivative_held	Apr. 30, 2022 derivative_held	Dec. 31, 2021 USD ($) derivative_held	Apr. 30, 2021 derivative_held
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held	2
Interest rate swap instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held				0
Interest rate swap instruments | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held		2
Interest rate swap instruments | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest-rate contracts held | derivative_held			2
Interest Rate Swap, 5.08% Pay Rate | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 51,100
Pay Rate	5.08%
Receive Rate	2.50%
Fair value	$ 2,300			$ 0
Interest Rate Swap, 4.63% Pay Rate | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 91,000
Pay Rate	4.63%
Receive Rate	2.05%
Fair value	$ 4,096			0
Interest Rate Swap, 2.60% Pay Rate | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 250,000
Pay Rate	2.60%
Fair value	$ 11,299			0
Interest Rate Swap, 2.54% Pay Rate | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 250,000
Pay Rate	2.54%
Fair value	$ 12,564			0
Interest rate cap instruments | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 142,100
Pay Rate	2%
Fair value	$ 0			$ 397
Number of interest-rate contracts held | derivative_held					2

Accounts Payable, Accrued Lia_3

Accounts Payable, Accrued Liabilities, and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Refundable entrance fees	$ 268,972	$ 288,409
Accrued construction costs	178,626	179,995
Accrued interest	59,291	59,342
Other accounts payable and accrued liabilities	265,596	227,638
Accounts payable, accrued liabilities, and other liabilities	$ 772,485	$ 755,384

Deferred Revenue - Schedule of

Deferred Revenue - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Nonrefundable entrance fees	$ 518,573	$ 496,478
Other deferred revenue(2)	325,503	292,729
Deferred revenue	844,076	789,207
Proceeds from nonrefundable entrance fees	101,000	89,000
Amortization of nonrefundable entrance fee	79,000	76,000	$ 72,000
Amortization of other deferred charges	$ 44,000	$ 39,000	$ 33,000

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 524,468	$ 520,406	$ 517,932	$ 498,372	$ 483,205	$ 481,465	$ 476,238	$ 455,276	$ 2,061,178	$ 1,896,184	$ 1,644,875
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	9,435	355,775	68,201	73,719	25,503	58,329	166,435	(121,900)
Income (loss) from continuing operations	9,929	359,284	69,301	75,026	28,943	61,305	168,065	(120,585)	513,540	137,728	160,507
Income (loss) from discontinued operations	873	(1,298)	2,992	317	3,633	601	113,960	270,008	2,884	388,202	267,746
Net income (loss)	10,802	357,986	72,293	75,343	32,576	61,906	282,025	149,423	516,424	525,930	428,253
Net income (loss) applicable to Healthpeak Properties, Inc.	$ 6,528	$ 353,970	$ 68,338	$ 71,613	$ 28,761	$ 54,711	$ 276,280	$ 145,788	$ 500,449	$ 505,540	$ 413,563
Dividends paid per common share (in dollars per share)	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.30
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	0.01	0.66	0.12	0.13	0.05	0.10	0.30	(0.23)	$ 0.92	$ 0.22	$ 0.27
Discontinued operations (in dollars per share)	0	0	0.01	0	0	0	0.21	0.50	0	0.71	0.50
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.01	0.65	0.12	0.13	0.05	0.10	0.30	(0.23)	0.92	0.22	0.27
Discontinued operations (in dollars per share)	$ 0	$ 0	$ 0.01	$ 0	$ 0	$ 0	$ 0.21	$ 0.50	$ 0	$ 0.71	$ 0.50

Schedule II_ Valuation and Qu_2

Schedule II: Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 1,870	$ 3,994
Additions
Amounts Charged Against Operations, net	529	0	$ 76
Acquired Properties	0	0	3,531
Deductions	0	(2,124)	0
Balance at End of Year	2,399	1,870	3,994
Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	4,138	5,873
Additions
Amounts Charged Against Operations, net	0	46	1,026
Acquired Properties	0	0	175
Deductions	(4,138)	(1,781)	494
Balance at End of Year	$ 0	$ 4,138	5,873
ASU 2016-02 | Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			387
ASU 2016-02 | Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			$ 4,178

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, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Held-for-sale
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 0
Initial Cost to Company
Land	2,367
Building and Improvements	11,813
Costs Capitalized Subsequent to Acquisition	58,658
Gross Amount at Which Carried As of Year End
Land	2,373
Buildings and Improvements	65,437
Total	67,810
Accumulated Depreciation	(23,455)
Discontinued Operations
Gross Amount at Which Carried As of Year End
Total	0	$ 0	$ 2,930,566	$ 4,133,349
Accumulated Depreciation	0	$ 0	$ (615,708)	$ (861,557)
Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	346,599
Initial Cost to Company
Land	2,623,679
Building and Improvements	8,759,627
Costs Capitalized Subsequent to Acquisition	5,427,414
Gross Amount at Which Carried As of Year End
Land	2,667,188
Buildings and Improvements	13,544,433
Total	16,211,621
Accumulated Depreciation	(3,188,138)
Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,933,254
Building and Improvements	3,273,282
Costs Capitalized Subsequent to Acquisition	3,567,689
Gross Amount at Which Carried As of Year End
Land	1,936,126
Buildings and Improvements	6,623,610
Total	8,559,736
Accumulated Depreciation	(1,274,094)
Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	146,506
Initial Cost to Company
Land	530,858
Building and Improvements	3,891,709
Costs Capitalized Subsequent to Acquisition	1,709,551
Gross Amount at Which Carried As of Year End
Land	564,526
Buildings and Improvements	5,218,646
Total	5,783,172
Accumulated Depreciation	(1,656,210)
Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	200,093
Initial Cost to Company
Land	161,934
Building and Improvements	1,606,449
Costs Capitalized Subsequent to Acquisition	208,832
Gross Amount at Which Carried As of Year End
Land	168,909
Buildings and Improvements	1,767,614
Total	1,936,523
Accumulated Depreciation	(281,289)
1483 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,498
Building and Improvements	500
Costs Capitalized Subsequent to Acquisition	79,187
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	79,687
Total	88,185
Accumulated Depreciation	(2,999)
1484 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Building and Improvements	689
Costs Capitalized Subsequent to Acquisition	164,388
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	165,077
Total	176,408
Accumulated Depreciation	(4,493)
1485 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	154,403
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	155,003
Total	166,334
Accumulated Depreciation	(5,015)
1486 Brisbane, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,331
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	135,429
Gross Amount at Which Carried As of Year End
Land	11,331
Buildings and Improvements	135,429
Total	146,760
Accumulated Depreciation	(16,899)
1487 Brisbane, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,498
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	76,375
Gross Amount at Which Carried As of Year End
Land	8,498
Buildings and Improvements	76,375
Total	84,873
Accumulated Depreciation	(4,497)
2874 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	26,895
Building and Improvements	62,318
Costs Capitalized Subsequent to Acquisition	54,909
Gross Amount at Which Carried As of Year End
Land	26,895
Buildings and Improvements	115,580
Total	142,475
Accumulated Depreciation	(8,023)
2875 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	24,092
Building and Improvements	56,623
Costs Capitalized Subsequent to Acquisition	7,910
Gross Amount at Which Carried As of Year End
Land	24,092
Buildings and Improvements	63,177
Total	87,269
Accumulated Depreciation	(8,006)
3139 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	35,805
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,899
Gross Amount at Which Carried As of Year End
Land	35,805
Buildings and Improvements	3,899
Total	39,704
Accumulated Depreciation	0
3140 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	35,805
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,202
Gross Amount at Which Carried As of Year End
Land	35,805
Buildings and Improvements	1,202
Total	37,007
Accumulated Depreciation	0
3142 Brisbane CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	31
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	31
Total	31
Accumulated Depreciation	0
1401 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	900
Building and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	13,215
Gross Amount at Which Carried As of Year End
Land	1,338
Buildings and Improvements	19,023
Total	20,361
Accumulated Depreciation	(4,187)
1402 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,500
Building and Improvements	6,400
Costs Capitalized Subsequent to Acquisition	4,605
Gross Amount at Which Carried As of Year End
Land	1,719
Buildings and Improvements	7,111
Total	8,830
Accumulated Depreciation	(2,531)
1403 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,900
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	15,011
Total	16,911
Accumulated Depreciation	(4,783)
1404 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Building and Improvements	17,200
Costs Capitalized Subsequent to Acquisition	8,244
Gross Amount at Which Carried As of Year End
Land	2,200
Buildings and Improvements	25,444
Total	27,644
Accumulated Depreciation	(8,642)
1405 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,000
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	(1,448)
1549 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,006
Building and Improvements	4,259
Costs Capitalized Subsequent to Acquisition	6,919
Gross Amount at Which Carried As of Year End
Land	1,055
Buildings and Improvements	8,699
Total	9,754
Accumulated Depreciation	(3,999)
1550 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,006)
1551 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	661
Building and Improvements	1,995
Costs Capitalized Subsequent to Acquisition	7,358
Gross Amount at Which Carried As of Year End
Land	693
Buildings and Improvements	5,134
Total	5,827
Accumulated Depreciation	(1,622)
1552 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,187
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	(5,059)
1553 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,189
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	(11,160)
1554 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,246
Building and Improvements	5,179
Costs Capitalized Subsequent to Acquisition	13,699
Gross Amount at Which Carried As of Year End
Land	1,283
Buildings and Improvements	17,080
Total	18,363
Accumulated Depreciation	(4,905)
1555 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,521
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	(13,061)
1556 Hayward CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,212
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	(4,254)
1424 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,175
Building and Improvements	25,283
Costs Capitalized Subsequent to Acquisition	43,545
Gross Amount at Which Carried As of Year End
Land	11,437
Buildings and Improvements	63,093
Total	74,530
Accumulated Depreciation	(12,454)
1425 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,217
Building and Improvements	19,883
Costs Capitalized Subsequent to Acquisition	1,661
Gross Amount at Which Carried As of Year End
Land	7,293
Buildings and Improvements	19,868
Total	27,161
Accumulated Depreciation	(7,690)
1426 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,381
Building and Improvements	12,412
Costs Capitalized Subsequent to Acquisition	14,403
Gross Amount at Which Carried As of Year End
Land	8,467
Buildings and Improvements	23,364
Total	31,831
Accumulated Depreciation	(13,475)
1427 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,127
Building and Improvements	16,983
Costs Capitalized Subsequent to Acquisition	11,292
Gross Amount at Which Carried As of Year End
Land	10,194
Buildings and Improvements	23,732
Total	33,926
Accumulated Depreciation	(10,055)
1949 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,686
Building and Improvements	11,045
Costs Capitalized Subsequent to Acquisition	18,084
Gross Amount at Which Carried As of Year End
Land	2,686
Buildings and Improvements	28,594
Total	31,280
Accumulated Depreciation	(6,677)
2229 La Jolla CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,753
Building and Improvements	32,528
Costs Capitalized Subsequent to Acquisition	11,785
Gross Amount at Which Carried As of Year End
Land	8,777
Buildings and Improvements	42,931
Total	51,708
Accumulated Depreciation	(12,222)
1470 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,826
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	(4,778)
1471 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,978
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	(5,473)
1472 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,654
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,895
Gross Amount at Which Carried As of Year End
Land	8,654
Buildings and Improvements	11,895
Total	20,549
Accumulated Depreciation	(3,317)
1473 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,024
Building and Improvements	2,405
Costs Capitalized Subsequent to Acquisition	26,187
Gross Amount at Which Carried As of Year End
Land	11,024
Buildings and Improvements	27,857
Total	38,881
Accumulated Depreciation	(9,213)
1474 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,051
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	(5,082)
1475 Poway, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,655
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	(579)
1478 Poway CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,700
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	(5,550)
1499 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,400
Building and Improvements	5,500
Costs Capitalized Subsequent to Acquisition	3,333
Gross Amount at Which Carried As of Year End
Land	3,462
Buildings and Improvements	7,152
Total	10,614
Accumulated Depreciation	(3,330)
1500 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,500
Building and Improvements	4,100
Costs Capitalized Subsequent to Acquisition	1,703
Gross Amount at Which Carried As of Year End
Land	2,506
Buildings and Improvements	5,041
Total	7,547
Accumulated Depreciation	(2,282)
1501 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,600
Building and Improvements	4,600
Costs Capitalized Subsequent to Acquisition	2,328
Gross Amount at Which Carried As of Year End
Land	3,607
Buildings and Improvements	6,485
Total	10,092
Accumulated Depreciation	(2,880)
1502 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,100
Building and Improvements	5,100
Costs Capitalized Subsequent to Acquisition	1,471
Gross Amount at Which Carried As of Year End
Land	3,107
Buildings and Improvements	6,200
Total	9,307
Accumulated Depreciation	(2,975)
1503 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,800
Building and Improvements	17,300
Costs Capitalized Subsequent to Acquisition	10,044
Gross Amount at Which Carried As of Year End
Land	4,818
Buildings and Improvements	25,558
Total	30,376
Accumulated Depreciation	(8,153)
1504 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,400
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	11,996
Gross Amount at Which Carried As of Year End
Land	5,418
Buildings and Improvements	27,461
Total	32,879
Accumulated Depreciation	(10,558)
1505 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,000
Building and Improvements	3,500
Costs Capitalized Subsequent to Acquisition	5,773
Gross Amount at Which Carried As of Year End
Land	3,006
Buildings and Improvements	8,798
Total	11,804
Accumulated Depreciation	(2,733)
1506 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,000
Building and Improvements	14,300
Costs Capitalized Subsequent to Acquisition	14,929
Gross Amount at Which Carried As of Year End
Land	6,018
Buildings and Improvements	28,586
Total	34,604
Accumulated Depreciation	(14,015)
1507 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,900
Building and Improvements	12,800
Costs Capitalized Subsequent to Acquisition	17,383
Gross Amount at Which Carried As of Year End
Land	1,912
Buildings and Improvements	23,468
Total	25,380
Accumulated Depreciation	(7,016)
1508 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,700
Building and Improvements	11,300
Costs Capitalized Subsequent to Acquisition	22,756
Gross Amount at Which Carried As of Year End
Land	2,712
Buildings and Improvements	28,481
Total	31,193
Accumulated Depreciation	(7,902)
1509 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,700
Building and Improvements	10,900
Costs Capitalized Subsequent to Acquisition	10,493
Gross Amount at Which Carried As of Year End
Land	2,712
Buildings and Improvements	14,012
Total	16,724
Accumulated Depreciation	(6,191)
1510 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Building and Improvements	12,000
Costs Capitalized Subsequent to Acquisition	11,009
Gross Amount at Which Carried As of Year End
Land	2,212
Buildings and Improvements	18,794
Total	21,006
Accumulated Depreciation	(7,038)
1511 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,600
Building and Improvements	9,300
Costs Capitalized Subsequent to Acquisition	21,497
Gross Amount at Which Carried As of Year End
Land	2,612
Buildings and Improvements	30,166
Total	32,778
Accumulated Depreciation	(8,789)
1512 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,300
Building and Improvements	18,000
Costs Capitalized Subsequent to Acquisition	19,100
Gross Amount at Which Carried As of Year End
Land	3,300
Buildings and Improvements	37,072
Total	40,372
Accumulated Depreciation	(16,498)
1513 Redwood City CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,300
Building and Improvements	17,900
Costs Capitalized Subsequent to Acquisition	15,954
Gross Amount at Which Carried As of Year End
Land	3,326
Buildings and Improvements	29,933
Total	33,259
Accumulated Depreciation	(15,150)
678 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,603
Building and Improvements	11,051
Costs Capitalized Subsequent to Acquisition	3,514
Gross Amount at Which Carried As of Year End
Land	2,766
Buildings and Improvements	14,402
Total	17,168
Accumulated Depreciation	(6,496)
679 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,269
Building and Improvements	23,566
Costs Capitalized Subsequent to Acquisition	31,885
Gross Amount at Which Carried As of Year End
Land	5,669
Buildings and Improvements	51,751
Total	57,420
Accumulated Depreciation	(20,933)
837 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,630
Building and Improvements	2,028
Costs Capitalized Subsequent to Acquisition	9,262
Gross Amount at Which Carried As of Year End
Land	4,630
Buildings and Improvements	5,330
Total	9,960
Accumulated Depreciation	(2,204)
838 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,040
Building and Improvements	903
Costs Capitalized Subsequent to Acquisition	5,266
Gross Amount at Which Carried As of Year End
Land	2,040
Buildings and Improvements	4,215
Total	6,255
Accumulated Depreciation	(1,210)
839 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,940
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	(2,162)
840 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,690
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	(2,420)
1418 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,700
Building and Improvements	31,243
Costs Capitalized Subsequent to Acquisition	65,364
Gross Amount at Which Carried As of Year End
Land	11,700
Buildings and Improvements	90,225
Total	101,925
Accumulated Depreciation	(12,855)
1419 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,324
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	33,097
Gross Amount at Which Carried As of Year End
Land	2,324
Buildings and Improvements	33,097
Total	35,421
Accumulated Depreciation	(1,052)
1420 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,200
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	41,041
Gross Amount at Which Carried As of Year End
Land	4,200
Buildings and Improvements	41,041
Total	45,241
Accumulated Depreciation	(839)
1421 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,000
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	33,779
Total	40,779
Accumulated Depreciation	(13,019)
1422 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,179
Building and Improvements	3,687
Costs Capitalized Subsequent to Acquisition	6,004
Gross Amount at Which Carried As of Year End
Land	7,336
Buildings and Improvements	9,491
Total	16,827
Accumulated Depreciation	(5,542)
1423 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,400
Building and Improvements	33,144
Costs Capitalized Subsequent to Acquisition	32,248
Gross Amount at Which Carried As of Year End
Land	8,400
Buildings and Improvements	65,384
Total	73,784
Accumulated Depreciation	(17,763)
1558 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,740
Building and Improvements	22,654
Costs Capitalized Subsequent to Acquisition	79,394
Gross Amount at Which Carried As of Year End
Land	7,888
Buildings and Improvements	98,330
Total	106,218
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	2,581
Building and Improvements	10,534
Costs Capitalized Subsequent to Acquisition	4,484
Gross Amount at Which Carried As of Year End
Land	2,581
Buildings and Improvements	15,019
Total	17,600
Accumulated Depreciation	(7,054)
1948 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,879
Building and Improvements	25,305
Costs Capitalized Subsequent to Acquisition	10,121
Gross Amount at Which Carried As of Year End
Land	5,879
Buildings and Improvements	33,121
Total	39,000
Accumulated Depreciation	(11,270)
2197 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,621
Building and Improvements	3,913
Costs Capitalized Subsequent to Acquisition	8,763
Gross Amount at Which Carried As of Year End
Land	7,626
Buildings and Improvements	11,375
Total	19,001
Accumulated Depreciation	(6,034)
2476 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,661
Building and Improvements	9,918
Costs Capitalized Subsequent to Acquisition	13,892
Gross Amount at Which Carried As of Year End
Land	7,661
Buildings and Improvements	23,811
Total	31,472
Accumulated Depreciation	(2,551)
2477 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,207
Building and Improvements	14,613
Costs Capitalized Subsequent to Acquisition	6,762
Gross Amount at Which Carried As of Year End
Land	9,207
Buildings and Improvements	21,374
Total	30,581
Accumulated Depreciation	(6,135)
2478 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	76,774
Gross Amount at Which Carried As of Year End
Land	6,000
Buildings and Improvements	76,774
Total	82,774
Accumulated Depreciation	0
2617 San Diego, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,734
Building and Improvements	5,195
Costs Capitalized Subsequent to Acquisition	16,713
Gross Amount at Which Carried As of Year End
Land	2,734
Buildings and Improvements	21,908
Total	24,642
Accumulated Depreciation	(8,204)
2618 San Diego, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,100
Building and Improvements	12,395
Costs Capitalized Subsequent to Acquisition	22,843
Gross Amount at Which Carried As of Year End
Land	4,100
Buildings and Improvements	35,238
Total	39,338
Accumulated Depreciation	(8,884)
2622 San Diego, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	17,147
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	17,147
Total	17,147
Accumulated Depreciation	(1,225)
2872 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,120
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	(6,958)
2873 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,052
Building and Improvements	14,122
Costs Capitalized Subsequent to Acquisition	2,060
Gross Amount at Which Carried As of Year End
Land	6,052
Buildings and Improvements	16,319
Total	22,371
Accumulated Depreciation	(2,853)
3069 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,054
Building and Improvements	7,794
Costs Capitalized Subsequent to Acquisition	19,627
Gross Amount at Which Carried As of Year End
Land	7,054
Buildings and Improvements	27,083
Total	34,137
Accumulated Depreciation	(2,174)
3110 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,584
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,765
Gross Amount at Which Carried As of Year End
Land	20,584
Buildings and Improvements	2,765
Total	23,349
Accumulated Depreciation	0
3111 San Diego CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	24,830
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	729
Gross Amount at Which Carried As of Year End
Land	24,830
Buildings and Improvements	729
Total	25,559
Accumulated Depreciation	(2)
1410 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,900
Building and Improvements	18,100
Costs Capitalized Subsequent to Acquisition	13,022
Gross Amount at Which Carried As of Year End
Land	4,900
Buildings and Improvements	30,312
Total	35,212
Accumulated Depreciation	(12,654)
1411 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,000
Building and Improvements	27,700
Costs Capitalized Subsequent to Acquisition	38,753
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	60,871
Total	68,871
Accumulated Depreciation	(15,218)
1412 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,100
Building and Improvements	22,521
Costs Capitalized Subsequent to Acquisition	11,660
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	32,039
Total	42,139
Accumulated Depreciation	(10,276)
1413 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,000
Building and Improvements	28,299
Costs Capitalized Subsequent to Acquisition	8,862
Gross Amount at Which Carried As of Year End
Land	8,000
Buildings and Improvements	36,694
Total	44,694
Accumulated Depreciation	(15,735)
1430 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,700
Building and Improvements	23,621
Costs Capitalized Subsequent to Acquisition	29,985
Gross Amount at Which Carried As of Year End
Land	10,700
Buildings and Improvements	51,141
Total	61,841
Accumulated Depreciation	(11,846)
1431 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,000
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	9,733
Gross Amount at Which Carried As of Year End
Land	7,000
Buildings and Improvements	25,172
Total	32,172
Accumulated Depreciation	(9,179)
1435 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	13,800
Building and Improvements	42,500
Costs Capitalized Subsequent to Acquisition	37,106
Gross Amount at Which Carried As of Year End
Land	13,800
Buildings and Improvements	79,606
Total	93,406
Accumulated Depreciation	(33,867)
1436 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,500
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	(34,174)
1437 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,400
Building and Improvements	24,800
Costs Capitalized Subsequent to Acquisition	51,679
Gross Amount at Which Carried As of Year End
Land	9,400
Buildings and Improvements	65,208
Total	74,608
Accumulated Depreciation	(24,038)
1439 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,900
Building and Improvements	68,848
Costs Capitalized Subsequent to Acquisition	600
Gross Amount at Which Carried As of Year End
Land	11,900
Buildings and Improvements	69,417
Total	81,317
Accumulated Depreciation	(26,546)
1440 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,000
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	(22,413)
1441 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,300
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	(16,790)
1442 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,000
Building and Improvements	47,289
Costs Capitalized Subsequent to Acquisition	41,919
Gross Amount at Which Carried As of Year End
Land	11,000
Buildings and Improvements	89,119
Total	100,119
Accumulated Depreciation	(17,042)
1443 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	13,200
Building and Improvements	60,932
Costs Capitalized Subsequent to Acquisition	5,039
Gross Amount at Which Carried As of Year End
Land	13,200
Buildings and Improvements	64,716
Total	77,916
Accumulated Depreciation	(23,882)
1444 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,500
Building and Improvements	33,776
Costs Capitalized Subsequent to Acquisition	1,260
Gross Amount at Which Carried As of Year End
Land	10,500
Buildings and Improvements	34,698
Total	45,198
Accumulated Depreciation	(13,182)
1445 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,600
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	(13,142)
1458 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,900
Building and Improvements	20,900
Costs Capitalized Subsequent to Acquisition	13,870
Gross Amount at Which Carried As of Year End
Land	10,909
Buildings and Improvements	26,479
Total	37,388
Accumulated Depreciation	(8,628)
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	9,800
Building and Improvements	400
Costs Capitalized Subsequent to Acquisition	112,695
Gross Amount at Which Carried As of Year End
Land	9,800
Buildings and Improvements	112,701
Total	122,501
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	7,117
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	5,887
Gross Amount at Which Carried As of Year End
Land	7,117
Buildings and Improvements	4,701
Total	11,818
Accumulated Depreciation	(1,617)
1463 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,381
Building and Improvements	2,300
Costs Capitalized Subsequent to Acquisition	21,954
Gross Amount at Which Carried As of Year End
Land	10,381
Buildings and Improvements	21,706
Total	32,087
Accumulated Depreciation	(7,573)
1464 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,403
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	(2,436)
1468 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,100
Building and Improvements	24,013
Costs Capitalized Subsequent to Acquisition	15,981
Gross Amount at Which Carried As of Year End
Land	10,100
Buildings and Improvements	36,238
Total	46,338
Accumulated Depreciation	(13,306)
1480 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	32,210
Building and Improvements	3,110
Costs Capitalized Subsequent to Acquisition	159,459
Gross Amount at Which Carried As of Year End
Land	32,210
Buildings and Improvements	162,569
Total	194,779
Accumulated Depreciation	0
1559 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,666
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	5,904
Total	11,599
Accumulated Depreciation	(5,915)
1560 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,204
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	(2,567)
1983 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,648
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	97,191
Gross Amount at Which Carried As of Year End
Land	8,648
Buildings and Improvements	97,191
Total	105,839
Accumulated Depreciation	(29,837)
1984 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,845
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	93,647
Gross Amount at Which Carried As of Year End
Land	7,844
Buildings and Improvements	93,223
Total	101,067
Accumulated Depreciation	(26,859)
1985 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	122,646
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	122,646
Total	129,354
Accumulated Depreciation	(31,230)
1986 South San Francisco, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	120,349
Gross Amount at Which Carried As of Year End
Land	6,708
Buildings and Improvements	120,306
Total	127,014
Accumulated Depreciation	(25,127)
1987 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,544
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,777
Gross Amount at Which Carried As of Year End
Land	8,544
Buildings and Improvements	100,777
Total	109,321
Accumulated Depreciation	(18,788)
1988 South San Francisco, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,120
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	120,282
Gross Amount at Which Carried As of Year End
Land	10,120
Buildings and Improvements	120,282
Total	130,402
Accumulated Depreciation	(23,861)
1989 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,169
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,232
Gross Amount at Which Carried As of Year End
Land	9,169
Buildings and Improvements	100,232
Total	109,401
Accumulated Depreciation	(13,686)
2553 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,897
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	(3,983)
2554 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	995
Building and Improvements	2,754
Costs Capitalized Subsequent to Acquisition	3,076
Gross Amount at Which Carried As of Year End
Land	995
Buildings and Improvements	5,110
Total	6,105
Accumulated Depreciation	(1,047)
2555 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,202
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	12,909
Total	15,111
Accumulated Depreciation	(2,746)
2556 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,962
Building and Improvements	15,108
Costs Capitalized Subsequent to Acquisition	1,500
Gross Amount at Which Carried As of Year End
Land	2,962
Buildings and Improvements	16,607
Total	19,569
Accumulated Depreciation	(3,475)
2557 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,453
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	(4,956)
2558 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,163
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	(1,250)
2624 South San Francisco, CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	25,502
Building and Improvements	42,910
Costs Capitalized Subsequent to Acquisition	13,847
Gross Amount at Which Carried As of Year End
Land	25,502
Buildings and Improvements	55,604
Total	81,106
Accumulated Depreciation	(11,129)
2870 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	23,297
Building and Improvements	41,797
Costs Capitalized Subsequent to Acquisition	28,766
Gross Amount at Which Carried As of Year End
Land	23,297
Buildings and Improvements	70,563
Total	93,860
Accumulated Depreciation	(12,994)
2871 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,293
Building and Improvements	41,262
Costs Capitalized Subsequent to Acquisition	22,011
Gross Amount at Which Carried As of Year End
Land	20,293
Buildings and Improvements	63,273
Total	83,566
Accumulated Depreciation	(15,166)
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	24,059
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,867
Gross Amount at Which Carried As of Year End
Land	24,059
Buildings and Improvements	1,867
Total	25,926
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	61,208
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	6,548
Gross Amount at Which Carried As of Year End
Land	61,208
Buildings and Improvements	6,548
Total	67,756
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	43,885
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,343
Gross Amount at Which Carried As of Year End
Land	43,885
Buildings and Improvements	1,343
Total	45,228
Accumulated Depreciation	0
3123 South San Francisco CA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	6,412
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,412
Total	6,412
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	24,371
Building and Improvements	128,498
Costs Capitalized Subsequent to Acquisition	78
Gross Amount at Which Carried As of Year End
Land	24,371
Buildings and Improvements	128,577
Total	152,948
Accumulated Depreciation	(8,966)
2706 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(11,386)
2707 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	25,549
Building and Improvements	229,547
Costs Capitalized Subsequent to Acquisition	8,698
Gross Amount at Which Carried As of Year End
Land	25,549
Buildings and Improvements	238,245
Total	263,794
Accumulated Depreciation	(16,198)
2708 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	17,751
Costs Capitalized Subsequent to Acquisition	398
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,149
Total	18,149
Accumulated Depreciation	(946)
2709 Cambridge, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	15,451
Costs Capitalized Subsequent to Acquisition	17
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	15,468
Total	15,468
Accumulated Depreciation	(805)
2928 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	44,215
Building and Improvements	24,120
Costs Capitalized Subsequent to Acquisition	4,099
Gross Amount at Which Carried As of Year End
Land	44,215
Buildings and Improvements	26,989
Total	71,204
Accumulated Depreciation	(2,845)
2929 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,517
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	153,005
Gross Amount at Which Carried As of Year End
Land	20,517
Buildings and Improvements	153,005
Total	173,522
Accumulated Depreciation	(936)
3074 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	78,762
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	(24,413)
3106 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,644
Building and Improvements	2,982
Costs Capitalized Subsequent to Acquisition	432
Gross Amount at Which Carried As of Year End
Land	20,644
Buildings and Improvements	3,415
Total	24,059
Accumulated Depreciation	(136)
3107 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(481)
3108 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(388)
3109 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,903
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	110
Gross Amount at Which Carried As of Year End
Land	5,903
Buildings and Improvements	110
Total	6,013
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	23,402
Building and Improvements	47,623
Costs Capitalized Subsequent to Acquisition	96
Gross Amount at Which Carried As of Year End
Land	23,402
Buildings and Improvements	47,719
Total	71,121
Accumulated Depreciation	(2,194)
3113 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	36,093
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,453
Gross Amount at Which Carried As of Year End
Land	36,093
Buildings and Improvements	1,453
Total	37,546
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	22,969
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(2,115)
Gross Amount at Which Carried As of Year End
Land	22,969
Buildings and Improvements	(2,115)
Total	20,854
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	66,786
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	545
Gross Amount at Which Carried As of Year End
Land	66,786
Buildings and Improvements	545
Total	67,331
Accumulated Depreciation	0
3116 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,642
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	3,642
Total	3,642
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	0
Building and Improvements	29,667
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	29,667
Total	29,667
Accumulated Depreciation	(1,099)
3120 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	18,063
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	224
Gross Amount at Which Carried As of Year End
Land	18,063
Buildings and Improvements	224
Total	18,287
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	25,247
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,000
Gross Amount at Which Carried As of Year End
Land	25,247
Buildings and Improvements	1,000
Total	26,247
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	4,119
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(164)
Gross Amount at Which Carried As of Year End
Land	4,119
Buildings and Improvements	(164)
Total	3,955
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	41,327
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,212
Gross Amount at Which Carried As of Year End
Land	41,327
Buildings and Improvements	1,212
Total	42,539
Accumulated Depreciation	0
3141 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	72,768
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,499
Gross Amount at Which Carried As of Year End
Land	72,768
Buildings and Improvements	2,499
Total	75,267
Accumulated Depreciation	0
3151 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,555
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3
Gross Amount at Which Carried As of Year End
Land	8,555
Buildings and Improvements	3
Total	8,558
Accumulated Depreciation	0
3148 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,283
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1
Gross Amount at Which Carried As of Year End
Land	2,283
Buildings and Improvements	1
Total	2,284
Accumulated Depreciation	0
3149 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,705
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2
Gross Amount at Which Carried As of Year End
Land	5,705
Buildings and Improvements	2
Total	5,707
Accumulated Depreciation	0
3150 Cambridge MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,655
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,655
Buildings and Improvements	0
Total	1,655
Accumulated Depreciation	0
2630 Lexington, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	16,411
Building and Improvements	49,681
Costs Capitalized Subsequent to Acquisition	670
Gross Amount at Which Carried As of Year End
Land	16,411
Buildings and Improvements	50,351
Total	66,762
Accumulated Depreciation	(11,807)
2631 Lexington, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	7,759
Building and Improvements	142,081
Costs Capitalized Subsequent to Acquisition	25,479
Gross Amount at Which Carried As of Year End
Land	7,759
Buildings and Improvements	162,079
Total	169,838
Accumulated Depreciation	(21,202)
2632 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	21,390
Costs Capitalized Subsequent to Acquisition	125,363
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	146,246
Total	146,246
Accumulated Depreciation	(11,999)
3070 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,013
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	16,814
Total	30,827
Accumulated Depreciation	(1,958)
3071 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,930
Building and Improvements	16,677
Costs Capitalized Subsequent to Acquisition	229
Gross Amount at Which Carried As of Year End
Land	14,930
Buildings and Improvements	16,151
Total	31,081
Accumulated Depreciation	(1,705)
3072 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,838)
3073 Lexington MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	37,050
Building and Improvements	44,647
Costs Capitalized Subsequent to Acquisition	94
Gross Amount at Which Carried As of Year End
Land	37,050
Buildings and Improvements	44,741
Total	81,791
Accumulated Depreciation	(6,223)
3093 Waltham, MA | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	47,792
Building and Improvements	275,556
Costs Capitalized Subsequent to Acquisition	18,648
Gross Amount at Which Carried As of Year End
Land	47,792
Buildings and Improvements	292,545
Total	340,337
Accumulated Depreciation	(26,840)
2011 Durham NC | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	448
Building and Improvements	6,152
Costs Capitalized Subsequent to Acquisition	23,847
Gross Amount at Which Carried As of Year End
Land	448
Buildings and Improvements	24,341
Total	24,789
Accumulated Depreciation	(7,054)
2030 Durham NC | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,920
Building and Improvements	5,661
Costs Capitalized Subsequent to Acquisition	34,811
Gross Amount at Which Carried As of Year End
Land	1,926
Buildings and Improvements	40,465
Total	42,391
Accumulated Depreciation	(15,772)
9999 Denton TX | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	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	(5,364)
465 Salt Lake City UT | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	125
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	(3,119)
466 Salt Lake City UT | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
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	(5,041)
1593 Salt Lake City UT | Life Science | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	23,998
Costs Capitalized Subsequent to Acquisition	250
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	24,248
Total	24,248
Accumulated Depreciation	(9,033)
638 Anchorage AK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,456
Building and Improvements	10,650
Costs Capitalized Subsequent to Acquisition	13,956
Gross Amount at Which Carried As of Year End
Land	1,456
Buildings and Improvements	21,328
Total	22,784
Accumulated Depreciation	(8,842)
3026 Bentonville AR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	912
Building and Improvements	21,724
Costs Capitalized Subsequent to Acquisition	789
Gross Amount at Which Carried As of Year End
Land	912
Buildings and Improvements	22,513
Total	23,425
Accumulated Depreciation	(721)
0126 Sherwood, AR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(6,679)
2572 Springdale AR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,497)
520 Chandler AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,669
Building and Improvements	13,503
Costs Capitalized Subsequent to Acquisition	7,742
Gross Amount at Which Carried As of Year End
Land	3,799
Buildings and Improvements	19,368
Total	23,167
Accumulated Depreciation	(8,497)
0113 Glendale, AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,143)
2040 Mesa AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	17,314
Costs Capitalized Subsequent to Acquisition	2,213
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,542
Total	18,542
Accumulated Depreciation	(4,785)
1066 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,115
Building and Improvements	14,064
Costs Capitalized Subsequent to Acquisition	8,648
Gross Amount at Which Carried As of Year End
Land	4,839
Buildings and Improvements	20,196
Total	25,035
Accumulated Depreciation	(7,540)
2021 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	12,312
Costs Capitalized Subsequent to Acquisition	7,551
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,283
Total	16,283
Accumulated Depreciation	(6,312)
2022 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,179
Costs Capitalized Subsequent to Acquisition	4,439
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,543
Total	10,543
Accumulated Depreciation	(3,868)
2023 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,398
Costs Capitalized Subsequent to Acquisition	2,515
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,733
Total	7,733
Accumulated Depreciation	(3,561)
2024 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,522
Costs Capitalized Subsequent to Acquisition	2,015
Gross Amount at Which Carried As of Year End
Land	32
Buildings and Improvements	10,747
Total	10,779
Accumulated Depreciation	(4,251)
2025 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,102
Costs Capitalized Subsequent to Acquisition	3,398
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,025
Total	6,025
Accumulated Depreciation	(2,625)
2026 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	3,655
Costs Capitalized Subsequent to Acquisition	2,336
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,565
Total	5,565
Accumulated Depreciation	(2,535)
2027 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	7,168
Costs Capitalized Subsequent to Acquisition	3,478
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,548
Total	9,548
Accumulated Depreciation	(4,336)
2028 Scottsdale AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,659
Costs Capitalized Subsequent to Acquisition	5,595
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,497
Total	11,497
Accumulated Depreciation	(4,607)
2696 Scottsdale, AZ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	10,151
Building and Improvements	14,925
Costs Capitalized Subsequent to Acquisition	3,286
Gross Amount at Which Carried As of Year End
Land	10,211
Buildings and Improvements	18,143
Total	28,354
Accumulated Depreciation	(3,515)
1041 Brentwood CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	30,864
Costs Capitalized Subsequent to Acquisition	10,983
Gross Amount at Which Carried As of Year End
Land	309
Buildings and Improvements	39,668
Total	39,977
Accumulated Depreciation	(13,503)
1200 Encino CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,151
Building and Improvements	10,438
Costs Capitalized Subsequent to Acquisition	8,821
Gross Amount at Which Carried As of Year End
Land	6,756
Buildings and Improvements	15,764
Total	22,520
Accumulated Depreciation	(7,208)
1038 Fresno CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,652
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	(22,480)
436 Murietta CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	400
Building and Improvements	9,266
Costs Capitalized Subsequent to Acquisition	5,940
Gross Amount at Which Carried As of Year End
Land	749
Buildings and Improvements	12,380
Total	13,129
Accumulated Depreciation	(8,054)
239 Poway CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,700
Building and Improvements	10,839
Costs Capitalized Subsequent to Acquisition	6,467
Gross Amount at Which Carried As of Year End
Land	3,104
Buildings and Improvements	13,511
Total	16,615
Accumulated Depreciation	(8,750)
2654 Riverside, CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,758
Building and Improvements	9,908
Costs Capitalized Subsequent to Acquisition	1,127
Gross Amount at Which Carried As of Year End
Land	2,758
Buildings and Improvements	10,801
Total	13,559
Accumulated Depreciation	(2,230)
318 Sacramento CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,860
Building and Improvements	37,566
Costs Capitalized Subsequent to Acquisition	28,181
Gross Amount at Which Carried As of Year End
Land	2,911
Buildings and Improvements	63,560
Total	66,471
Accumulated Depreciation	(25,031)
2404 Sacramento CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,268
Building and Improvements	5,109
Costs Capitalized Subsequent to Acquisition	1,363
Gross Amount at Which Carried As of Year End
Land	1,299
Buildings and Improvements	6,123
Total	7,422
Accumulated Depreciation	(2,229)
421 San Diego CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,910
Building and Improvements	19,984
Costs Capitalized Subsequent to Acquisition	16,469
Gross Amount at Which Carried As of Year End
Land	2,964
Buildings and Improvements	35,070
Total	38,034
Accumulated Depreciation	(16,109)
564 San Jose CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,935
Building and Improvements	1,728
Costs Capitalized Subsequent to Acquisition	4,000
Gross Amount at Which Carried As of Year End
Land	1,935
Buildings and Improvements	3,686
Total	5,621
Accumulated Depreciation	(1,625)
565 San Jose CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,460
Building and Improvements	7,672
Costs Capitalized Subsequent to Acquisition	2,654
Gross Amount at Which Carried As of Year End
Land	1,460
Buildings and Improvements	9,770
Total	11,230
Accumulated Depreciation	(4,238)
659 Los Gatos CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,718
Building and Improvements	3,124
Costs Capitalized Subsequent to Acquisition	1,660
Gross Amount at Which Carried As of Year End
Land	1,796
Buildings and Improvements	4,255
Total	6,051
Accumulated Depreciation	(1,779)
439 Valencia CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,300
Building and Improvements	6,967
Costs Capitalized Subsequent to Acquisition	5,392
Gross Amount at Which Carried As of Year End
Land	2,404
Buildings and Improvements	10,017
Total	12,421
Accumulated Depreciation	(6,125)
440 West Hills CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,100
Building and Improvements	11,595
Costs Capitalized Subsequent to Acquisition	13,695
Gross Amount at Which Carried As of Year End
Land	2,259
Buildings and Improvements	20,297
Total	22,556
Accumulated Depreciation	(7,779)
3008 West Hills CA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,052
Initial Cost to Company
Land	5,795
Building and Improvements	13,933
Costs Capitalized Subsequent to Acquisition	2,496
Gross Amount at Which Carried As of Year End
Land	5,823
Buildings and Improvements	16,150
Total	21,973
Accumulated Depreciation	(1,003)
728 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,764
Costs Capitalized Subsequent to Acquisition	5,727
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,715
Total	10,715
Accumulated Depreciation	(4,438)
1196 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	210
Building and Improvements	12,362
Costs Capitalized Subsequent to Acquisition	8,005
Gross Amount at Which Carried As of Year End
Land	210
Buildings and Improvements	18,842
Total	19,052
Accumulated Depreciation	(7,645)
1197 Aurora CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	200
Building and Improvements	8,414
Costs Capitalized Subsequent to Acquisition	7,401
Gross Amount at Which Carried As of Year End
Land	285
Buildings and Improvements	14,358
Total	14,643
Accumulated Depreciation	(6,212)
127 Colorado Springs, CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,875)
882 Colorado Springs CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	12,933
Costs Capitalized Subsequent to Acquisition	12,891
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,513
Total	21,513
Accumulated Depreciation	(9,563)
1199 Denver CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	493
Building and Improvements	7,897
Costs Capitalized Subsequent to Acquisition	2,793
Gross Amount at Which Carried As of Year End
Land	668
Buildings and Improvements	9,510
Total	10,178
Accumulated Depreciation	(4,793)
808 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,616
Costs Capitalized Subsequent to Acquisition	13,388
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	18,442
Total	18,453
Accumulated Depreciation	(9,524)
809 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,449
Costs Capitalized Subsequent to Acquisition	16,776
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,237
Total	22,237
Accumulated Depreciation	(6,059)
810 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,040
Costs Capitalized Subsequent to Acquisition	14,877
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,697
Total	18,697
Accumulated Depreciation	(8,707)
811 Englewood CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,472
Costs Capitalized Subsequent to Acquisition	15,163
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	20,604
Total	20,604
Accumulated Depreciation	(8,681)
2658 Highlands Ranch CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,637
Building and Improvements	10,063
Costs Capitalized Subsequent to Acquisition	94
Gross Amount at Which Carried As of Year End
Land	1,732
Buildings and Improvements	10,063
Total	11,795
Accumulated Depreciation	(1,937)
812 Littleton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,562
Costs Capitalized Subsequent to Acquisition	3,997
Gross Amount at Which Carried As of Year End
Land	257
Buildings and Improvements	6,482
Total	6,739
Accumulated Depreciation	(3,095)
813 Littleton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,926
Costs Capitalized Subsequent to Acquisition	3,286
Gross Amount at Which Carried As of Year End
Land	251
Buildings and Improvements	6,324
Total	6,575
Accumulated Depreciation	(2,737)
570 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	23,999
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,884
Total	21,884
Accumulated Depreciation	(9,404)
666 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	23,274
Costs Capitalized Subsequent to Acquisition	5,888
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	26,446
Total	26,463
Accumulated Depreciation	(11,638)
2233 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,734
Costs Capitalized Subsequent to Acquisition	33,848
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	39,973
Total	39,973
Accumulated Depreciation	(13,804)
3000 Lone Tree CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,393
Building and Improvements	31,643
Costs Capitalized Subsequent to Acquisition	6,135
Gross Amount at Which Carried As of Year End
Land	4,393
Buildings and Improvements	37,778
Total	42,171
Accumulated Depreciation	(2,007)
510 Thornton CO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	236
Building and Improvements	10,206
Costs Capitalized Subsequent to Acquisition	15,580
Gross Amount at Which Carried As of Year End
Land	463
Buildings and Improvements	22,963
Total	23,426
Accumulated Depreciation	(6,726)
434 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	2,324
Total	2,329
Accumulated Depreciation	(1,518)
435 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	1,332
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,659
Total	2,659
Accumulated Depreciation	(1,733)
602 Atlantis FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	455
Building and Improvements	2,231
Costs Capitalized Subsequent to Acquisition	1,561
Gross Amount at Which Carried As of Year End
Land	455
Buildings and Improvements	3,225
Total	3,680
Accumulated Depreciation	(1,431)
2963 Brooksville FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,490
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,490
Total	11,490
Accumulated Depreciation	(913)
604 Englewood FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	170
Building and Improvements	1,134
Costs Capitalized Subsequent to Acquisition	1,194
Gross Amount at Which Carried As of Year End
Land	226
Buildings and Improvements	1,868
Total	2,094
Accumulated Depreciation	(734)
2962 Orange Park | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,983
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,983
Total	16,983
Accumulated Depreciation	(601)
609 Kissimmee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(556)
610 Kissimmee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	481
Building and Improvements	347
Costs Capitalized Subsequent to Acquisition	904
Gross Amount at Which Carried As of Year End
Land	494
Buildings and Improvements	628
Total	1,122
Accumulated Depreciation	(344)
671 Kissimmee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	7,574
Costs Capitalized Subsequent to Acquisition	2,904
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,247
Total	8,247
Accumulated Depreciation	(3,755)
603 Lake Worth FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,507
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	2,868
Total	4,375
Accumulated Depreciation	(1,374)
612 Margate FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,553
Building and Improvements	6,898
Costs Capitalized Subsequent to Acquisition	3,585
Gross Amount at Which Carried As of Year End
Land	1,553
Buildings and Improvements	9,421
Total	10,974
Accumulated Depreciation	(4,219)
613 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	4,392
Building and Improvements	11,841
Costs Capitalized Subsequent to Acquisition	15,281
Gross Amount at Which Carried As of Year End
Land	4,454
Buildings and Improvements	22,922
Total	27,376
Accumulated Depreciation	(7,410)
2202 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	13,123
Costs Capitalized Subsequent to Acquisition	11,991
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	24,034
Total	24,034
Accumulated Depreciation	(8,801)
2203 Miami FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,877
Costs Capitalized Subsequent to Acquisition	5,205
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,597
Total	13,597
Accumulated Depreciation	(4,813)
1067 Milton FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,566
Costs Capitalized Subsequent to Acquisition	1,361
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,813
Total	9,813
Accumulated Depreciation	(3,687)
2577 Naples FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,884)
2578 Naples FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(3,147)
2964 Okeechobee FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,751
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,751
Total	16,751
Accumulated Depreciation	(455)
563 Orlando FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,144
Building and Improvements	5,136
Costs Capitalized Subsequent to Acquisition	16,761
Gross Amount at Which Carried As of Year End
Land	12,033
Buildings and Improvements	7,591
Total	19,624
Accumulated Depreciation	(6,377)
833 Pace FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	10,309
Costs Capitalized Subsequent to Acquisition	4,179
Gross Amount at Which Carried As of Year End
Land	54
Buildings and Improvements	11,533
Total	11,587
Accumulated Depreciation	(4,306)
834 Pensacola FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(4,237)
673 Plantation FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,091
Building and Improvements	7,176
Costs Capitalized Subsequent to Acquisition	3,269
Gross Amount at Which Carried As of Year End
Land	1,091
Buildings and Improvements	9,368
Total	10,459
Accumulated Depreciation	(4,023)
674 Plantation FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,273
Costs Capitalized Subsequent to Acquisition	572
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,845
Total	8,845
Accumulated Depreciation	(570)
2579 Punta Gorda FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,379
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,379
Total	9,379
Accumulated Depreciation	(1,678)
2833 St. Petersburg FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	13,754
Costs Capitalized Subsequent to Acquisition	15,843
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,467
Total	23,467
Accumulated Depreciation	(8,651)
2836 Tampa FL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,967
Building and Improvements	6,618
Costs Capitalized Subsequent to Acquisition	9,533
Gross Amount at Which Carried As of Year End
Land	2,700
Buildings and Improvements	10,719
Total	13,419
Accumulated Depreciation	(6,475)
887 Atlanta, GA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(9,413)
3214 Savannah GA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	867
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	867
Total	867
Accumulated Depreciation	0
2576 Statesboro GA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,542)
3006 Arlington Heights IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,845
Initial Cost to Company
Land	3,011
Building and Improvements	9,651
Costs Capitalized Subsequent to Acquisition	591
Gross Amount at Which Carried As of Year End
Land	3,187
Buildings and Improvements	10,021
Total	13,208
Accumulated Depreciation	(759)
2702 Bolingbrook, IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	21,237
Costs Capitalized Subsequent to Acquisition	1,910
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,055
Total	23,055
Accumulated Depreciation	(1,855)
3004 Highland Park IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,834
Initial Cost to Company
Land	2,767
Building and Improvements	11,495
Costs Capitalized Subsequent to Acquisition	217
Gross Amount at Which Carried As of Year End
Land	2,767
Buildings and Improvements	11,674
Total	14,441
Accumulated Depreciation	(742)
3005 Lockport IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	10,976
Initial Cost to Company
Land	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	(1,410)
1065 Marion IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	99
Building and Improvements	11,538
Costs Capitalized Subsequent to Acquisition	2,322
Gross Amount at Which Carried As of Year End
Land	100
Buildings and Improvements	13,375
Total	13,475
Accumulated Depreciation	(5,541)
2719 Marion IL | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,098
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,098
Total	5,098
Accumulated Depreciation	(221)
2696 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	59,746
Costs Capitalized Subsequent to Acquisition	697
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	60,364
Total	60,364
Accumulated Depreciation	(3,979)
2699 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	23,211
Costs Capitalized Subsequent to Acquisition	711
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	23,921
Total	23,921
Accumulated Depreciation	(1,586)
2701 Indianapolis, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	478
Building and Improvements	1,637
Costs Capitalized Subsequent to Acquisition	136
Gross Amount at Which Carried As of Year End
Land	478
Buildings and Improvements	1,749
Total	2,227
Accumulated Depreciation	(501)
2698 Mooresville, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	20,646
Costs Capitalized Subsequent to Acquisition	653
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,292
Total	21,292
Accumulated Depreciation	(1,407)
1057 Newburgh IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	14,019
Costs Capitalized Subsequent to Acquisition	5,381
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,250
Total	19,250
Accumulated Depreciation	(9,128)
2700 Zionsville, IN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,969
Building and Improvements	7,281
Costs Capitalized Subsequent to Acquisition	809
Gross Amount at Which Carried As of Year End
Land	3,040
Buildings and Improvements	7,998
Total	11,038
Accumulated Depreciation	(757)
2039 Kansas City KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	440
Building and Improvements	2,173
Costs Capitalized Subsequent to Acquisition	316
Gross Amount at Which Carried As of Year End
Land	448
Buildings and Improvements	2,436
Total	2,884
Accumulated Depreciation	(658)
112 Overland Park, KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(7,924)
2043 Overland Park KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	7,668
Costs Capitalized Subsequent to Acquisition	2,354
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,290
Total	9,290
Accumulated Depreciation	(2,692)
3062 Overland Park KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	872
Building and Improvements	11,813
Costs Capitalized Subsequent to Acquisition	526
Gross Amount at Which Carried As of Year End
Land	978
Buildings and Improvements	11,811
Total	12,789
Accumulated Depreciation	(2,053)
483 Wichita KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	530
Building and Improvements	3,341
Costs Capitalized Subsequent to Acquisition	788
Gross Amount at Which Carried As of Year End
Land	605
Buildings and Improvements	3,510
Total	4,115
Accumulated Depreciation	(1,645)
3018 Wichita KS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,305)
1064 Lexington KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	12,726
Costs Capitalized Subsequent to Acquisition	2,837
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,648
Total	14,648
Accumulated Depreciation	(6,224)
735 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	936
Building and Improvements	8,426
Costs Capitalized Subsequent to Acquisition	18,960
Gross Amount at Which Carried As of Year End
Land	936
Buildings and Improvements	23,542
Total	24,478
Accumulated Depreciation	(13,083)
737 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	835
Building and Improvements	27,627
Costs Capitalized Subsequent to Acquisition	11,636
Gross Amount at Which Carried As of Year End
Land	878
Buildings and Improvements	35,899
Total	36,777
Accumulated Depreciation	(16,797)
738 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	780
Building and Improvements	8,582
Costs Capitalized Subsequent to Acquisition	8,694
Gross Amount at Which Carried As of Year End
Land	851
Buildings and Improvements	13,331
Total	14,182
Accumulated Depreciation	(10,083)
739 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	826
Building and Improvements	13,814
Costs Capitalized Subsequent to Acquisition	4,003
Gross Amount at Which Carried As of Year End
Land	832
Buildings and Improvements	16,046
Total	16,878
Accumulated Depreciation	(6,911)
2834 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,983
Building and Improvements	13,171
Costs Capitalized Subsequent to Acquisition	8,866
Gross Amount at Which Carried As of Year End
Land	2,991
Buildings and Improvements	18,816
Total	21,807
Accumulated Depreciation	(10,006)
1945 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,255
Building and Improvements	28,644
Costs Capitalized Subsequent to Acquisition	3,092
Gross Amount at Which Carried As of Year End
Land	3,365
Buildings and Improvements	30,902
Total	34,267
Accumulated Depreciation	(12,422)
1946 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,587)
2237 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,519
Building and Improvements	15,386
Costs Capitalized Subsequent to Acquisition	5,450
Gross Amount at Which Carried As of Year End
Land	1,672
Buildings and Improvements	20,351
Total	22,023
Accumulated Depreciation	(7,139)
2238 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,334
Building and Improvements	12,172
Costs Capitalized Subsequent to Acquisition	3,627
Gross Amount at Which Carried As of Year End
Land	1,558
Buildings and Improvements	14,624
Total	16,182
Accumulated Depreciation	(4,921)
2239 Louisville KY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,644
Building and Improvements	10,832
Costs Capitalized Subsequent to Acquisition	6,912
Gross Amount at Which Carried As of Year End
Land	2,091
Buildings and Improvements	16,272
Total	18,363
Accumulated Depreciation	(6,510)
3023 Covington LA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	9,490
Building and Improvements	21,918
Costs Capitalized Subsequent to Acquisition	94
Gross Amount at Which Carried As of Year End
Land	9,490
Buildings and Improvements	22,012
Total	31,502
Accumulated Depreciation	(1,204)
3121 Cambrigde MA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	40,663
Building and Improvements	23,102
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	40,663
Buildings and Improvements	23,102
Total	63,765
Accumulated Depreciation	(956)
1213 Ellicott City MD | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,115
Building and Improvements	3,206
Costs Capitalized Subsequent to Acquisition	4,960
Gross Amount at Which Carried As of Year End
Land	1,463
Buildings and Improvements	6,257
Total	7,720
Accumulated Depreciation	(2,884)
1052 Towson MD | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	14,233
Costs Capitalized Subsequent to Acquisition	5,579
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	14,435
Total	14,435
Accumulated Depreciation	(5,538)
2650 Biddeford, ME | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,341
Building and Improvements	17,376
Costs Capitalized Subsequent to Acquisition	107
Gross Amount at Which Carried As of Year End
Land	1,341
Buildings and Improvements	17,483
Total	18,824
Accumulated Depreciation	(3,524)
3002 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	7,713
Initial Cost to Company
Land	2,801
Building and Improvements	17,779
Costs Capitalized Subsequent to Acquisition	892
Gross Amount at Which Carried As of Year End
Land	2,861
Buildings and Improvements	18,611
Total	21,472
Accumulated Depreciation	(2,148)
3003 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,142
Initial Cost to Company
Land	516
Building and Improvements	13,200
Costs Capitalized Subsequent to Acquisition	452
Gross Amount at Which Carried As of Year End
Land	533
Buildings and Improvements	13,382
Total	13,915
Accumulated Depreciation	(1,374)
3009 Burnsville MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	18,985
Initial Cost to Company
Land	4,640
Building and Improvements	38,064
Costs Capitalized Subsequent to Acquisition	40
Gross Amount at Which Carried As of Year End
Land	4,664
Buildings and Improvements	38,080
Total	42,744
Accumulated Depreciation	(2,488)
240 Minneapolis MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	117
Building and Improvements	13,213
Costs Capitalized Subsequent to Acquisition	7,285
Gross Amount at Which Carried As of Year End
Land	117
Buildings and Improvements	18,442
Total	18,559
Accumulated Depreciation	(11,143)
300 Minneapolis MN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	160
Building and Improvements	10,131
Costs Capitalized Subsequent to Acquisition	6,920
Gross Amount at Which Carried As of Year End
Land	214
Buildings and Improvements	14,342
Total	14,556
Accumulated Depreciation	(8,692)
2703 Columbia, MO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,845)
2032 Independence MO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	48,025
Costs Capitalized Subsequent to Acquisition	3,539
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	50,173
Total	50,173
Accumulated Depreciation	(12,403)
2863 Lee's Summitt MO | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,454
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	16,454
Total	16,454
Accumulated Depreciation	(1,822)
1078 Flowood MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,413
Costs Capitalized Subsequent to Acquisition	2,177
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,902
Total	9,902
Accumulated Depreciation	(3,723)
1059 Jackson MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,868
Costs Capitalized Subsequent to Acquisition	692
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,523
Total	9,523
Accumulated Depreciation	(3,776)
1060 Jackson MS | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	7,187
Costs Capitalized Subsequent to Acquisition	3,022
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,131
Total	9,131
Accumulated Depreciation	(3,500)
1068 Omaha NE | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	16,243
Costs Capitalized Subsequent to Acquisition	3,023
Gross Amount at Which Carried As of Year End
Land	41
Buildings and Improvements	18,491
Total	18,532
Accumulated Depreciation	(7,563)
2651 Charlotte NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,032
Building and Improvements	6,196
Costs Capitalized Subsequent to Acquisition	204
Gross Amount at Which Carried As of Year End
Land	1,032
Buildings and Improvements	6,295
Total	7,327
Accumulated Depreciation	(992)
2695 Charlotte, NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	844
Building and Improvements	5,021
Costs Capitalized Subsequent to Acquisition	76
Gross Amount at Which Carried As of Year End
Land	844
Buildings and Improvements	5,060
Total	5,904
Accumulated Depreciation	(781)
2655 Wilmington NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,949
Building and Improvements	12,244
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,949
Buildings and Improvements	12,244
Total	14,193
Accumulated Depreciation	(2,291)
2656 Wilmington NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,071
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	(2,146)
2657 Shallotte NC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(921)
2647 Concord NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,961
Building and Improvements	23,516
Costs Capitalized Subsequent to Acquisition	556
Gross Amount at Which Carried As of Year End
Land	1,961
Buildings and Improvements	22,721
Total	24,682
Accumulated Depreciation	(2,953)
2648 Concord NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	815
Building and Improvements	8,902
Costs Capitalized Subsequent to Acquisition	464
Gross Amount at Which Carried As of Year End
Land	815
Buildings and Improvements	9,366
Total	10,181
Accumulated Depreciation	(2,106)
2649 Epsom NH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	919
Building and Improvements	5,868
Costs Capitalized Subsequent to Acquisition	59
Gross Amount at Which Carried As of Year End
Land	919
Buildings and Improvements	5,303
Total	6,222
Accumulated Depreciation	(976)
3011 Cherry Hill NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,685)
3012 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	21,703
Building and Improvements	32,517
Costs Capitalized Subsequent to Acquisition	3,119
Gross Amount at Which Carried As of Year End
Land	21,703
Buildings and Improvements	35,636
Total	57,339
Accumulated Depreciation	(2,476)
3013 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	14,567
Building and Improvements	20,548
Costs Capitalized Subsequent to Acquisition	6,480
Gross Amount at Which Carried As of Year End
Land	14,567
Buildings and Improvements	27,028
Total	41,595
Accumulated Depreciation	(1,118)
3014 Morristown NJ | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	20,563
Building and Improvements	31,849
Costs Capitalized Subsequent to Acquisition	1,007
Gross Amount at Which Carried As of Year End
Land	20,563
Buildings and Improvements	32,857
Total	53,420
Accumulated Depreciation	(1,466)
729 Albuquerque NM | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	5,380
Costs Capitalized Subsequent to Acquisition	2,466
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,308
Total	7,308
Accumulated Depreciation	(2,623)
571 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	22,137
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,359
Total	19,359
Accumulated Depreciation	(8,720)
660 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,121
Building and Improvements	4,363
Costs Capitalized Subsequent to Acquisition	12,784
Gross Amount at Which Carried As of Year End
Land	1,328
Buildings and Improvements	12,540
Total	13,868
Accumulated Depreciation	(4,437)
661 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,305
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,371
Gross Amount at Which Carried As of Year End
Land	3,676
Buildings and Improvements	0
Total	3,676
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	1,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	1,000
Buildings and Improvements	0
Total	1,000
Accumulated Depreciation	0
663 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,717
Building and Improvements	3,597
Costs Capitalized Subsequent to Acquisition	15,366
Gross Amount at Which Carried As of Year End
Land	1,724
Buildings and Improvements	15,511
Total	17,235
Accumulated Depreciation	(6,094)
664 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,172
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	(369)
691 Las Vegas NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,073
Building and Improvements	18,339
Costs Capitalized Subsequent to Acquisition	8,915
Gross Amount at Which Carried As of Year End
Land	3,167
Buildings and Improvements	25,521
Total	28,688
Accumulated Depreciation	(15,113)
2037 Mesquite NV | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	5,559
Costs Capitalized Subsequent to Acquisition	1,030
Gross Amount at Which Carried As of Year End
Land	34
Buildings and Improvements	6,430
Total	6,464
Accumulated Depreciation	(1,898)
400 Harrison OH | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,561
Costs Capitalized Subsequent to Acquisition	666
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	4,927
Total	4,927
Accumulated Depreciation	(3,019)
1054 Durant OK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	619
Building and Improvements	9,256
Costs Capitalized Subsequent to Acquisition	3,301
Gross Amount at Which Carried As of Year End
Land	659
Buildings and Improvements	12,364
Total	13,023
Accumulated Depreciation	(4,905)
817 Owasso OK | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,582
Costs Capitalized Subsequent to Acquisition	2,090
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,113
Total	6,113
Accumulated Depreciation	(2,535)
404 Roseburg OR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	5,707
Costs Capitalized Subsequent to Acquisition	1,147
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	6,154
Total	6,154
Accumulated Depreciation	(3,726)
3010 Springfield OR | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	20,666
Initial Cost to Company
Land	0
Building and Improvements	51,998
Costs Capitalized Subsequent to Acquisition	386
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	51,982
Total	51,982
Accumulated Depreciation	(3,493)
2570 Limerick PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(4,350)
2234 Philadelphia PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	24,264
Building and Improvements	99,904
Costs Capitalized Subsequent to Acquisition	49,324
Gross Amount at Which Carried As of Year End
Land	24,288
Buildings and Improvements	149,067
Total	173,355
Accumulated Depreciation	(36,719)
2403 Philadelphia PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	26,063
Building and Improvements	97,646
Costs Capitalized Subsequent to Acquisition	38,382
Gross Amount at Which Carried As of Year End
Land	26,134
Buildings and Improvements	135,309
Total	161,443
Accumulated Depreciation	(41,809)
2571 Wilkes-Barre PA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,138
Costs Capitalized Subsequent to Acquisition	11
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,149
Total	9,149
Accumulated Depreciation	(2,186)
2694 Anderson, SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(251)
2573 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,323)
2574 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,338)
2575 Florence SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,635)
2841 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	634
Building and Improvements	38,386
Costs Capitalized Subsequent to Acquisition	2,006
Gross Amount at Which Carried As of Year End
Land	647
Buildings and Improvements	39,635
Total	40,282
Accumulated Depreciation	(7,332)
2842 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(7,587)
2843 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	626
Building and Improvements	22,210
Costs Capitalized Subsequent to Acquisition	13
Gross Amount at Which Carried As of Year End
Land	626
Buildings and Improvements	22,223
Total	22,849
Accumulated Depreciation	(4,825)
2844 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	806
Building and Improvements	18,889
Costs Capitalized Subsequent to Acquisition	948
Gross Amount at Which Carried As of Year End
Land	806
Buildings and Improvements	19,031
Total	19,837
Accumulated Depreciation	(3,507)
2845 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	932
Building and Improvements	40,879
Costs Capitalized Subsequent to Acquisition	224
Gross Amount at Which Carried As of Year End
Land	932
Buildings and Improvements	41,103
Total	42,035
Accumulated Depreciation	(7,874)
2846 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	896
Building and Improvements	38,486
Costs Capitalized Subsequent to Acquisition	632
Gross Amount at Which Carried As of Year End
Land	896
Buildings and Improvements	39,118
Total	40,014
Accumulated Depreciation	(7,522)
2847 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	600
Building and Improvements	26,472
Costs Capitalized Subsequent to Acquisition	5,083
Gross Amount at Which Carried As of Year End
Land	600
Buildings and Improvements	30,954
Total	31,554
Accumulated Depreciation	(6,219)
2850 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	211
Building and Improvements	6,503
Costs Capitalized Subsequent to Acquisition	154
Gross Amount at Which Carried As of Year End
Land	211
Buildings and Improvements	6,656
Total	6,867
Accumulated Depreciation	(1,553)
2853 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	5,576
Total	6,110
Accumulated Depreciation	(1,310)
2854 Greenville SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(3,808)
2848 Greer SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,233)
2849 Greer SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,383)
2851 Travelers Rest SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	498
Building and Improvements	1,015
Costs Capitalized Subsequent to Acquisition	202
Gross Amount at Which Carried As of Year End
Land	498
Buildings and Improvements	1,018
Total	1,516
Accumulated Depreciation	(483)
2862 Myrtle Beach SC | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	27,660
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,660
Total	27,660
Accumulated Depreciation	(4,213)
2865 Brentwood TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	34,201
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	34,201
Total	34,201
Accumulated Depreciation	(2,397)
624 Hendersonville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	256
Building and Improvements	1,530
Costs Capitalized Subsequent to Acquisition	3,480
Gross Amount at Which Carried As of Year End
Land	256
Buildings and Improvements	3,619
Total	3,875
Accumulated Depreciation	(1,738)
559 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	830
Building and Improvements	5,036
Costs Capitalized Subsequent to Acquisition	14,514
Gross Amount at Which Carried As of Year End
Land	945
Buildings and Improvements	17,211
Total	18,156
Accumulated Depreciation	(6,645)
561 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	596
Building and Improvements	9,698
Costs Capitalized Subsequent to Acquisition	9,110
Gross Amount at Which Carried As of Year End
Land	596
Buildings and Improvements	15,414
Total	16,010
Accumulated Depreciation	(8,217)
562 Hermitage TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	317
Building and Improvements	6,528
Costs Capitalized Subsequent to Acquisition	5,427
Gross Amount at Which Carried As of Year End
Land	317
Buildings and Improvements	9,761
Total	10,078
Accumulated Depreciation	(4,751)
625 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	955
Building and Improvements	14,289
Costs Capitalized Subsequent to Acquisition	9,976
Gross Amount at Which Carried As of Year End
Land	955
Buildings and Improvements	20,959
Total	21,914
Accumulated Depreciation	(8,572)
626 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,050
Building and Improvements	5,211
Costs Capitalized Subsequent to Acquisition	7,211
Gross Amount at Which Carried As of Year End
Land	2,055
Buildings and Improvements	9,238
Total	11,293
Accumulated Depreciation	(3,819)
627 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,007
Building and Improvements	181
Costs Capitalized Subsequent to Acquisition	1,491
Gross Amount at Which Carried As of Year End
Land	1,113
Buildings and Improvements	1,073
Total	2,186
Accumulated Depreciation	(479)
628 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,980
Building and Improvements	7,164
Costs Capitalized Subsequent to Acquisition	6,377
Gross Amount at Which Carried As of Year End
Land	2,980
Buildings and Improvements	11,339
Total	14,319
Accumulated Depreciation	(5,081)
630 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	1,057
Total	1,585
Accumulated Depreciation	(508)
631 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	266
Building and Improvements	1,305
Costs Capitalized Subsequent to Acquisition	2,222
Gross Amount at Which Carried As of Year End
Land	266
Buildings and Improvements	2,552
Total	2,818
Accumulated Depreciation	(1,332)
632 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	827
Building and Improvements	7,642
Costs Capitalized Subsequent to Acquisition	6,300
Gross Amount at Which Carried As of Year End
Land	827
Buildings and Improvements	10,796
Total	11,623
Accumulated Depreciation	(5,441)
633 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	5,425
Building and Improvements	12,577
Costs Capitalized Subsequent to Acquisition	10,755
Gross Amount at Which Carried As of Year End
Land	5,425
Buildings and Improvements	19,406
Total	24,831
Accumulated Depreciation	(9,067)
634 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,818
Building and Improvements	15,185
Costs Capitalized Subsequent to Acquisition	17,341
Gross Amount at Which Carried As of Year End
Land	3,818
Buildings and Improvements	26,738
Total	30,556
Accumulated Depreciation	(12,093)
636 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	583
Building and Improvements	450
Costs Capitalized Subsequent to Acquisition	522
Gross Amount at Which Carried As of Year End
Land	604
Buildings and Improvements	793
Total	1,397
Accumulated Depreciation	(360)
2967 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	47,823
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	47,823
Total	47,823
Accumulated Depreciation	(1,989)
2720 Nashville TN | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	102
Building and Improvements	10,925
Costs Capitalized Subsequent to Acquisition	886
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	11,804
Total	11,906
Accumulated Depreciation	(1,299)
2611 Allen TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,330
Building and Improvements	5,960
Costs Capitalized Subsequent to Acquisition	838
Gross Amount at Which Carried As of Year End
Land	1,374
Buildings and Improvements	6,740
Total	8,114
Accumulated Depreciation	(1,579)
2612 Allen TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,310
Building and Improvements	4,165
Costs Capitalized Subsequent to Acquisition	1,438
Gross Amount at Which Carried As of Year End
Land	1,310
Buildings and Improvements	5,581
Total	6,891
Accumulated Depreciation	(1,469)
573 Arlington TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	769
Building and Improvements	12,355
Costs Capitalized Subsequent to Acquisition	12,450
Gross Amount at Which Carried As of Year End
Land	769
Buildings and Improvements	21,615
Total	22,384
Accumulated Depreciation	(7,448)
2621 Cedar Park, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,617
Building and Improvements	11,640
Costs Capitalized Subsequent to Acquisition	809
Gross Amount at Which Carried As of Year End
Land	1,617
Buildings and Improvements	12,450
Total	14,067
Accumulated Depreciation	(1,726)
576 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	324
Building and Improvements	4,842
Costs Capitalized Subsequent to Acquisition	5,202
Gross Amount at Which Carried As of Year End
Land	324
Buildings and Improvements	8,161
Total	8,485
Accumulated Depreciation	(3,540)
577 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	397
Building and Improvements	7,966
Costs Capitalized Subsequent to Acquisition	4,643
Gross Amount at Which Carried As of Year End
Land	397
Buildings and Improvements	11,334
Total	11,731
Accumulated Depreciation	(5,268)
578 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	388
Building and Improvements	7,975
Costs Capitalized Subsequent to Acquisition	5,687
Gross Amount at Which Carried As of Year End
Land	388
Buildings and Improvements	10,267
Total	10,655
Accumulated Depreciation	(4,158)
579 Conroe TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	188
Building and Improvements	3,618
Costs Capitalized Subsequent to Acquisition	1,697
Gross Amount at Which Carried As of Year End
Land	188
Buildings and Improvements	4,622
Total	4,810
Accumulated Depreciation	(2,231)
581 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	717
Building and Improvements	8,181
Costs Capitalized Subsequent to Acquisition	8,130
Gross Amount at Which Carried As of Year End
Land	717
Buildings and Improvements	12,331
Total	13,048
Accumulated Depreciation	(5,875)
600 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	328
Building and Improvements	3,210
Costs Capitalized Subsequent to Acquisition	5,094
Gross Amount at Which Carried As of Year End
Land	328
Buildings and Improvements	5,999
Total	6,327
Accumulated Depreciation	(3,431)
601 Corpus Christi TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	313
Building and Improvements	1,771
Costs Capitalized Subsequent to Acquisition	2,463
Gross Amount at Which Carried As of Year End
Land	325
Buildings and Improvements	3,235
Total	3,560
Accumulated Depreciation	(1,755)
2839 Cypress TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	38,362
Gross Amount at Which Carried As of Year End
Land	11
Buildings and Improvements	37,120
Total	37,131
Accumulated Depreciation	(11,016)
582 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,664
Building and Improvements	6,785
Costs Capitalized Subsequent to Acquisition	7,505
Gross Amount at Which Carried As of Year End
Land	1,747
Buildings and Improvements	11,387
Total	13,134
Accumulated Depreciation	(5,185)
1314 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	15,230
Building and Improvements	162,970
Costs Capitalized Subsequent to Acquisition	30,642
Gross Amount at Which Carried As of Year End
Land	24,093
Buildings and Improvements	183,326
Total	207,419
Accumulated Depreciation	(82,918)
1315 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	4,458
Gross Amount at Which Carried As of Year End
Land	26
Buildings and Improvements	3,246
Total	3,272
Accumulated Depreciation	(1,367)
1316 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,943
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	7,925
Total	7,925
Accumulated Depreciation	(1,393)
1317 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,510
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	10,984
Total	10,984
Accumulated Depreciation	(1,645)
1319 Dallas TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	18,840
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	162,198
Total	181,038
Accumulated Depreciation	(71,767)
2721 Dallas, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,498)
3007 Denton TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,636
Initial Cost to Company
Land	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	(810)
3020 Frisco TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	27,201
Costs Capitalized Subsequent to Acquisition	704
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,869
Total	27,869
Accumulated Depreciation	(1,296)
3021 Frisco TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	26,181
Costs Capitalized Subsequent to Acquisition	1,536
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	27,698
Total	27,698
Accumulated Depreciation	(1,420)
583 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	898
Building and Improvements	4,866
Costs Capitalized Subsequent to Acquisition	5,802
Gross Amount at Which Carried As of Year End
Land	898
Buildings and Improvements	9,131
Total	10,029
Accumulated Depreciation	(3,953)
805 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	2,481
Costs Capitalized Subsequent to Acquisition	2,335
Gross Amount at Which Carried As of Year End
Land	45
Buildings and Improvements	3,866
Total	3,911
Accumulated Depreciation	(2,364)
806 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,070
Costs Capitalized Subsequent to Acquisition	2,454
Gross Amount at Which Carried As of Year End
Land	5
Buildings and Improvements	7,973
Total	7,978
Accumulated Depreciation	(3,567)
2619 Fort Worth, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,180
Building and Improvements	13,432
Costs Capitalized Subsequent to Acquisition	1,437
Gross Amount at Which Carried As of Year End
Land	1,180
Buildings and Improvements	14,869
Total	16,049
Accumulated Depreciation	(1,703)
2620 Fort Worth, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,961
Building and Improvements	14,155
Costs Capitalized Subsequent to Acquisition	366
Gross Amount at Which Carried As of Year End
Land	2,000
Buildings and Improvements	14,482
Total	16,482
Accumulated Depreciation	(1,900)
2982 Fort Worth TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,720
Building and Improvements	6,225
Costs Capitalized Subsequent to Acquisition	5,880
Gross Amount at Which Carried As of Year End
Land	2,720
Buildings and Improvements	12,022
Total	14,742
Accumulated Depreciation	(2,236)
1061 Granbury TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	6,863
Costs Capitalized Subsequent to Acquisition	1,331
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	8,054
Total	8,054
Accumulated Depreciation	(3,406)
430 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,927
Building and Improvements	33,140
Costs Capitalized Subsequent to Acquisition	24,348
Gross Amount at Which Carried As of Year End
Land	2,479
Buildings and Improvements	52,033
Total	54,512
Accumulated Depreciation	(29,418)
446 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	2,200
Building and Improvements	19,585
Costs Capitalized Subsequent to Acquisition	25,280
Gross Amount at Which Carried As of Year End
Land	2,945
Buildings and Improvements	32,869
Total	35,814
Accumulated Depreciation	(23,130)
589 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,676
Building and Improvements	12,602
Costs Capitalized Subsequent to Acquisition	20,000
Gross Amount at Which Carried As of Year End
Land	1,706
Buildings and Improvements	27,359
Total	29,065
Accumulated Depreciation	(7,835)
702 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	7,414
Costs Capitalized Subsequent to Acquisition	4,119
Gross Amount at Which Carried As of Year End
Land	7
Buildings and Improvements	9,504
Total	9,511
Accumulated Depreciation	(4,449)
1044 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,838
Costs Capitalized Subsequent to Acquisition	7,140
Gross Amount at Which Carried As of Year End
Land	1,321
Buildings and Improvements	8,737
Total	10,058
Accumulated Depreciation	(3,053)
2542 Houston TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(4,091)
2543 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,639)
2544 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(3,316)
2545 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,909)
2546 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(5,500)
2547 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	17,727
Total	18,197
Accumulated Depreciation	(4,549)
2548 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(2,111)
2549 Houston Tx | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(4,182)
2966 Houston, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	32,920
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	32,920
Total	32,920
Accumulated Depreciation	(845)
590 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	828
Building and Improvements	6,160
Costs Capitalized Subsequent to Acquisition	6,147
Gross Amount at Which Carried As of Year End
Land	828
Buildings and Improvements	10,035
Total	10,863
Accumulated Depreciation	(4,146)
700 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	8,550
Costs Capitalized Subsequent to Acquisition	6,390
Gross Amount at Which Carried As of Year End
Land	8
Buildings and Improvements	11,256
Total	11,264
Accumulated Depreciation	(4,562)
1207 Irving TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,955
Building and Improvements	12,793
Costs Capitalized Subsequent to Acquisition	4,684
Gross Amount at Which Carried As of Year End
Land	2,063
Buildings and Improvements	16,131
Total	18,194
Accumulated Depreciation	(6,119)
2840 Kingwood TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,035
Building and Improvements	28,373
Costs Capitalized Subsequent to Acquisition	2,128
Gross Amount at Which Carried As of Year End
Land	3,422
Buildings and Improvements	28,718
Total	32,140
Accumulated Depreciation	(5,586)
591 Lewisville TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	561
Building and Improvements	8,043
Costs Capitalized Subsequent to Acquisition	3,043
Gross Amount at Which Carried As of Year End
Land	561
Buildings and Improvements	9,513
Total	10,074
Accumulated Depreciation	(4,688)
144 Longview TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	102
Building and Improvements	7,998
Costs Capitalized Subsequent to Acquisition	1,438
Gross Amount at Which Carried As of Year End
Land	102
Buildings and Improvements	8,986
Total	9,088
Accumulated Depreciation	(5,450)
143 Lufkin TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(1,573)
568 McKinney TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	541
Building and Improvements	6,217
Costs Capitalized Subsequent to Acquisition	5,260
Gross Amount at Which Carried As of Year End
Land	541
Buildings and Improvements	9,910
Total	10,451
Accumulated Depreciation	(4,928)
569 McKinney TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	636
Costs Capitalized Subsequent to Acquisition	9,509
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	9,045
Total	9,045
Accumulated Depreciation	(4,251)
596 N Richland Hills TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	812
Building and Improvements	8,883
Costs Capitalized Subsequent to Acquisition	6,238
Gross Amount at Which Carried As of Year End
Land	812
Buildings and Improvements	12,644
Total	13,456
Accumulated Depreciation	(4,720)
2048 North Richland Hills TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,385
Building and Improvements	10,213
Costs Capitalized Subsequent to Acquisition	2,364
Gross Amount at Which Carried As of Year End
Land	1,400
Buildings and Improvements	12,034
Total	13,434
Accumulated Depreciation	(5,092)
2835 Pearland TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,014
Costs Capitalized Subsequent to Acquisition	5,707
Gross Amount at Which Carried As of Year End
Land	29
Buildings and Improvements	7,866
Total	7,895
Accumulated Depreciation	(3,010)
2838 Pearland TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,978
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	18,768
Total	18,768
Accumulated Depreciation	(4,996)
597 Plano TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,210
Building and Improvements	9,588
Costs Capitalized Subsequent to Acquisition	10,042
Gross Amount at Which Carried As of Year End
Land	1,225
Buildings and Improvements	17,340
Total	18,565
Accumulated Depreciation	(7,412)
672 Plano TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,389
Building and Improvements	12,768
Costs Capitalized Subsequent to Acquisition	5,783
Gross Amount at Which Carried As of Year End
Land	1,389
Buildings and Improvements	15,701
Total	17,090
Accumulated Depreciation	(6,542)
1384 Plano, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	6,290
Building and Improvements	22,686
Costs Capitalized Subsequent to Acquisition	6,702
Gross Amount at Which Carried As of Year End
Land	6,290
Buildings and Improvements	29,197
Total	35,487
Accumulated Depreciation	(22,652)
2653 Rockwall, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	788
Building and Improvements	9,020
Costs Capitalized Subsequent to Acquisition	39
Gross Amount at Which Carried As of Year End
Land	788
Buildings and Improvements	9,026
Total	9,814
Accumulated Depreciation	(1,533)
815 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,193
Costs Capitalized Subsequent to Acquisition	4,303
Gross Amount at Which Carried As of Year End
Land	87
Buildings and Improvements	12,038
Total	12,125
Accumulated Depreciation	(5,744)
816 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	1,902
Initial Cost to Company
Land	0
Building and Improvements	8,699
Costs Capitalized Subsequent to Acquisition	14,749
Gross Amount at Which Carried As of Year End
Land	175
Buildings and Improvements	21,625
Total	21,800
Accumulated Depreciation	(5,880)
2837 San Antonio TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	26,191
Costs Capitalized Subsequent to Acquisition	4,030
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	28,781
Total	28,781
Accumulated Depreciation	(11,500)
2852 Shenandoah TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	29,980
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	29,980
Total	29,980
Accumulated Depreciation	(6,808)
598 Sugar Land TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,078
Building and Improvements	5,158
Costs Capitalized Subsequent to Acquisition	4,245
Gross Amount at Which Carried As of Year End
Land	1,170
Buildings and Improvements	6,912
Total	8,082
Accumulated Depreciation	(3,313)
599 Texas City TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	9,519
Costs Capitalized Subsequent to Acquisition	2,326
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,649
Total	11,649
Accumulated Depreciation	(4,913)
152 Victoria TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	125
Building and Improvements	8,977
Costs Capitalized Subsequent to Acquisition	711
Gross Amount at Which Carried As of Year End
Land	125
Buildings and Improvements	9,294
Total	9,419
Accumulated Depreciation	(5,628)
2198 Webster, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(3,516)
3024 Webster, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,196
Building and Improvements	12,911
Costs Capitalized Subsequent to Acquisition	36
Gross Amount at Which Carried As of Year End
Land	3,212
Buildings and Improvements	12,931
Total	16,143
Accumulated Depreciation	(449)
3025 Webster, TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,209
Building and Improvements	23,782
Costs Capitalized Subsequent to Acquisition	16
Gross Amount at Which Carried As of Year End
Land	3,225
Buildings and Improvements	23,782
Total	27,007
Accumulated Depreciation	(671)
2550 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	115
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	(1,210)
2551 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	296
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	(3,706)
2552 The Woodlands TX | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	374
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	(4,538)
1592 Bountiful UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	999
Building and Improvements	7,426
Costs Capitalized Subsequent to Acquisition	2,222
Gross Amount at Which Carried As of Year End
Land	1,019
Buildings and Improvements	9,393
Total	10,412
Accumulated Depreciation	(3,813)
169 Bountiful UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	276
Building and Improvements	5,237
Costs Capitalized Subsequent to Acquisition	4,466
Gross Amount at Which Carried As of Year End
Land	653
Buildings and Improvements	8,252
Total	8,905
Accumulated Depreciation	(3,906)
2035 Draper UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,146
Initial Cost to Company
Land	0
Building and Improvements	10,803
Costs Capitalized Subsequent to Acquisition	1,244
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,543
Total	11,543
Accumulated Depreciation	(2,859)
469 Kaysville UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	530
Building and Improvements	4,493
Costs Capitalized Subsequent to Acquisition	441
Gross Amount at Which Carried As of Year End
Land	530
Buildings and Improvements	4,708
Total	5,238
Accumulated Depreciation	(2,130)
456 Layton UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	371
Building and Improvements	7,073
Costs Capitalized Subsequent to Acquisition	3,201
Gross Amount at Which Carried As of Year End
Land	389
Buildings and Improvements	9,237
Total	9,626
Accumulated Depreciation	(4,801)
2042 Layton UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	10,975
Costs Capitalized Subsequent to Acquisition	1,906
Gross Amount at Which Carried As of Year End
Land	44
Buildings and Improvements	12,481
Total	12,525
Accumulated Depreciation	(3,090)
2864 Washington Terrace | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,898
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	19,898
Total	19,898
Accumulated Depreciation	(2,086)
357 Orem UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	337
Building and Improvements	8,744
Costs Capitalized Subsequent to Acquisition	4,751
Gross Amount at Which Carried As of Year End
Land	306
Buildings and Improvements	10,201
Total	10,507
Accumulated Depreciation	(5,970)
353 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	190
Building and Improvements	779
Costs Capitalized Subsequent to Acquisition	280
Gross Amount at Which Carried As of Year End
Land	273
Buildings and Improvements	830
Total	1,103
Accumulated Depreciation	(576)
354 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	220
Building and Improvements	10,732
Costs Capitalized Subsequent to Acquisition	4,517
Gross Amount at Which Carried As of Year End
Land	220
Buildings and Improvements	13,444
Total	13,664
Accumulated Depreciation	(8,332)
355 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	180
Building and Improvements	14,792
Costs Capitalized Subsequent to Acquisition	6,257
Gross Amount at Which Carried As of Year End
Land	180
Buildings and Improvements	19,145
Total	19,325
Accumulated Depreciation	(11,119)
467 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	3,000
Building and Improvements	7,541
Costs Capitalized Subsequent to Acquisition	3,340
Gross Amount at Which Carried As of Year End
Land	3,145
Buildings and Improvements	9,878
Total	13,023
Accumulated Depreciation	(5,572)
566 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	509
Building and Improvements	4,044
Costs Capitalized Subsequent to Acquisition	4,993
Gross Amount at Which Carried As of Year End
Land	509
Buildings and Improvements	7,717
Total	8,226
Accumulated Depreciation	(3,679)
2041 Salt Lake City UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	12,326
Costs Capitalized Subsequent to Acquisition	1,347
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	13,185
Total	13,185
Accumulated Depreciation	(3,272)
2033 Sandy UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	867
Building and Improvements	3,513
Costs Capitalized Subsequent to Acquisition	2,697
Gross Amount at Which Carried As of Year End
Land	1,356
Buildings and Improvements	5,525
Total	6,881
Accumulated Depreciation	(2,884)
351 Washington Terrace UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,573
Costs Capitalized Subsequent to Acquisition	3,629
Gross Amount at Which Carried As of Year End
Land	17
Buildings and Improvements	5,762
Total	5,779
Accumulated Depreciation	(3,429)
352 Washington Terrace UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	2,692
Costs Capitalized Subsequent to Acquisition	1,801
Gross Amount at Which Carried As of Year End
Land	15
Buildings and Improvements	3,665
Total	3,680
Accumulated Depreciation	(2,555)
2034 West Jordan UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
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	11,844
Total	11,844
Accumulated Depreciation	(2,751)
2036 West Jordan UT | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	1,383
Costs Capitalized Subsequent to Acquisition	1,671
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	2,714
Total	2,714
Accumulated Depreciation	(1,472)
1208 Fairfax VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	8,396
Building and Improvements	16,710
Costs Capitalized Subsequent to Acquisition	15,381
Gross Amount at Which Carried As of Year End
Land	8,845
Buildings and Improvements	27,935
Total	36,780
Accumulated Depreciation	(14,268)
2230 Fredericksburg VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	1,101
Building and Improvements	8,570
Costs Capitalized Subsequent to Acquisition	12
Gross Amount at Which Carried As of Year End
Land	1,113
Buildings and Improvements	8,570
Total	9,683
Accumulated Depreciation	(2,062)
3001 Leesburg VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	10,185
Initial Cost to Company
Land	3,549
Building and Improvements	24,059
Costs Capitalized Subsequent to Acquisition	3,701
Gross Amount at Which Carried As of Year End
Land	3,549
Buildings and Improvements	27,699
Total	31,248
Accumulated Depreciation	(2,419)
3015 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,643
Initial Cost to Company
Land	0
Building and Improvements	21,442
Costs Capitalized Subsequent to Acquisition	179
Gross Amount at Which Carried As of Year End
Land	45
Buildings and Improvements	21,354
Total	21,399
Accumulated Depreciation	(1,024)
3016 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	11,952
Initial Cost to Company
Land	0
Building and Improvements	20,610
Costs Capitalized Subsequent to Acquisition	177
Gross Amount at Which Carried As of Year End
Land	32
Buildings and Improvements	20,416
Total	20,448
Accumulated Depreciation	(1,097)
3017 Midlothian VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	13,829
Initial Cost to Company
Land	0
Building and Improvements	22,531
Costs Capitalized Subsequent to Acquisition	89
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	22,619
Total	22,619
Accumulated Depreciation	(1,771)
572 Reston VA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	11,902
Costs Capitalized Subsequent to Acquisition	1,353
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	11,712
Total	11,712
Accumulated Depreciation	(5,938)
448 Renton WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	18,724
Costs Capitalized Subsequent to Acquisition	5,301
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	21,729
Total	21,729
Accumulated Depreciation	(14,259)
781 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	52,703
Costs Capitalized Subsequent to Acquisition	22,499
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	67,881
Total	67,881
Accumulated Depreciation	(34,648)
782 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	24,382
Costs Capitalized Subsequent to Acquisition	31,717
Gross Amount at Which Carried As of Year End
Land	126
Buildings and Improvements	50,563
Total	50,689
Accumulated Depreciation	(19,720)
783 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	5,625
Costs Capitalized Subsequent to Acquisition	2,329
Gross Amount at Which Carried As of Year End
Land	211
Buildings and Improvements	6,949
Total	7,160
Accumulated Depreciation	(6,373)
785 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	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	(7,886)
1385 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	45,027
Costs Capitalized Subsequent to Acquisition	19,908
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	63,018
Total	63,018
Accumulated Depreciation	(25,124)
3022 Seattle WA | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	35,624
Building and Improvements	4,176
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land	35,624
Buildings and Improvements	4,176
Total	39,800
Accumulated Depreciation	(1,054)
2038 Evanston WY | Medical Office | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	0
Building and Improvements	4,601
Costs Capitalized Subsequent to Acquisition	1,225
Gross Amount at Which Carried As of Year End
Land	0
Buildings and Improvements	5,751
Total	5,751
Accumulated Depreciation	(1,715)
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	6,193
Building and Improvements	32,146
Costs Capitalized Subsequent to Acquisition	3,803
Gross Amount at Which Carried As of Year End
Land	6,543
Buildings and Improvements	35,599
Total	42,142
Accumulated Depreciation	(5,502)
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	5,496
Building and Improvements	95,671
Costs Capitalized Subsequent to Acquisition	16,038
Gross Amount at Which Carried As of Year End
Land	5,991
Buildings and Improvements	103,501
Total	109,492
Accumulated Depreciation	(15,560)
2997 Clearwater FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	68,405
Initial Cost to Company
Land	6,680
Building and Improvements	132,521
Costs Capitalized Subsequent to Acquisition	17,406
Gross Amount at Which Carried As of Year End
Land	6,819
Buildings and Improvements	146,467
Total	153,286
Accumulated Depreciation	(15,324)
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	19,660
Building and Improvements	167,860
Costs Capitalized Subsequent to Acquisition	15,791
Gross Amount at Which Carried As of Year End
Land	20,412
Buildings and Improvements	182,496
Total	202,908
Accumulated Depreciation	(21,706)
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	8,941
Building and Improvements	65,698
Costs Capitalized Subsequent to Acquisition	13,662
Gross Amount at Which Carried As of Year End
Land	9,766
Buildings and Improvements	78,534
Total	88,300
Accumulated Depreciation	(10,744)
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	5,344
Building and Improvements	159,612
Costs Capitalized Subsequent to Acquisition	12,089
Gross Amount at Which Carried As of Year End
Land	5,672
Buildings and Improvements	162,232
Total	167,904
Accumulated Depreciation	(17,301)
2998 Seminole FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	44,582
Initial Cost to Company
Land	14,080
Building and Improvements	77,485
Costs Capitalized Subsequent to Acquisition	9,202
Gross Amount at Which Carried As of Year End
Land	15,001
Buildings and Improvements	85,766
Total	100,767
Accumulated Depreciation	(8,074)
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	13,915
Building and Improvements	125,796
Costs Capitalized Subsequent to Acquisition	11,656
Gross Amount at Which Carried As of Year End
Land	14,613
Buildings and Improvements	136,755
Total	151,368
Accumulated Depreciation	(16,932)
3092 Sun City Center FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	87,106
Initial Cost to Company
Land	25,254
Building and Improvements	175,535
Costs Capitalized Subsequent to Acquisition	15,374
Gross Amount at Which Carried As of Year End
Land	26,382
Buildings and Improvements	189,781
Total	216,163
Accumulated Depreciation	(26,301)
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	7,091
Building and Improvements	120,493
Costs Capitalized Subsequent to Acquisition	12,553
Gross Amount at Which Carried As of Year End
Land	7,312
Buildings and Improvements	132,825
Total	140,137
Accumulated Depreciation	(15,586)
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	1,572
Building and Improvements	88,960
Costs Capitalized Subsequent to Acquisition	6,766
Gross Amount at Which Carried As of Year End
Land	1,804
Buildings and Improvements	95,493
Total	97,297
Accumulated Depreciation	(11,057)
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	16,443
Building and Improvements	126,243
Costs Capitalized Subsequent to Acquisition	11,838
Gross Amount at Which Carried As of Year End
Land	17,064
Buildings and Improvements	137,463
Total	154,527
Accumulated Depreciation	(14,965)
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	16,461
Building and Improvements	108,816
Costs Capitalized Subsequent to Acquisition	29,925
Gross Amount at Which Carried As of Year End
Land	16,461
Buildings and Improvements	126,165
Total	142,626
Accumulated Depreciation	(50,068)
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	3,210
Building and Improvements	30,085
Costs Capitalized Subsequent to Acquisition	6,821
Gross Amount at Which Carried As of Year End
Land	3,475
Buildings and Improvements	36,640
Total	40,115
Accumulated Depreciation	(3,992)
3081 Fortt Belvoir VA | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land	11,594
Building and Improvements	99,528
Costs Capitalized Subsequent to Acquisition	25,908
Gross Amount at Which Carried As of Year End
Land	11,594
Buildings and Improvements	117,897
Total	129,491
Accumulated Depreciation	$ (48,177)

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, 2022 USD ($)
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	$ 1.1
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated depreciation:
Deconsolidation of real estate	$ (89,766)	$ 0	$ 0
Continuing Operations
Real estate:
Balances at beginning of year	15,506,658	13,528,893	10,372,584
Acquisition of real estate and development and improvements	1,102,593	2,157,539	3,460,556
Sales and/or transfers to assets held for sale	(82,350)	(72,819)	(203,687)
Deconsolidation of real estate	(189,605)	0	0
Impairments	0	(21,294)	(23,991)
Other	(125,675)	(85,661)	(76,569)
Balances at end of year	16,211,621	15,506,658	13,528,893
Accumulated depreciation:
Balances at beginning of year	2,839,229	2,409,135	2,141,960
Depreciation expense	575,125	548,063	438,735
Sales and/or transfers to assets held for sale	(30,428)	(32,692)	(93,220)
Other	(106,022)	(85,277)	(78,340)
Balances at end of year	3,188,138	2,839,229	2,409,135
Discontinued Operations
Real estate:
Balances at beginning of year	0	2,930,566	4,133,349
Acquisition of real estate and development and improvements	0	8,238	119,333
Sales and/or transfers to assets held for sale	0	(2,929,713)	(1,114,792)
Impairments	0	(5,315)	(198,048)
Other	0	(3,776)	(9,276)
Balances at end of year	0	0	2,930,566
Accumulated depreciation:
Balances at beginning of year	0	615,708	861,557
Depreciation expense	0	0	91,726
Sales and/or transfers to assets held for sale	0	(615,708)	(333,654)
Other	0	0	(3,921)
Balances at end of year	$ 0	$ 0	$ 615,708

Schedule IV_ Mortgage Loans o_2

Schedule IV: Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Face Amount of Mortgages	350,837
Carrying Amount of Mortgages	341,749	$ 390,291	$ 157,572	$ 161,964
Principal Amount Subject to Delinquent Principal or Interest	$ 0
California, Florida, and Other
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, 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
Face Amount of Mortgages	20,566
Carrying Amount of Mortgages	17,652
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%
Mortgage loan on real estate, Florida due 2023 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	7,798
Carrying Amount of Mortgages	6,882
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2023 | SOFR | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.50%
Mortgage loan on real estate, Florida due 2023 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	3,912
Carrying Amount of Mortgages	3,769
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2023 | SOFR | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.50%
Mortgage loan on real estate, Florida due 2023 | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	14,207
Carrying Amount of Mortgages	14,106
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, Florida due 2023 | SOFR | Other Non-reportable | Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.50%
Mortgage loan on real estate, California due 2023 | Other Non-reportable | California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	35,100
Carrying Amount of Mortgages	33,143
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, California due 2023 | SOFR | Other Non-reportable | California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	5.50%
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	10
Mortgage loan on real estate, multiple due 2024 | Other Non-reportable | California, Florida, and Other
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	3.75%
Prior Liens	$ 0
Face Amount of Mortgages	119,754
Carrying Amount of Mortgages	116,920
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2024 | LIBOR | Other Non-reportable | California, Florida, and Other
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 | California, Florida, and Other
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	4.25%
Prior Liens	$ 0
Face Amount of Mortgages	149,500
Carrying Amount of Mortgages	149,277
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, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 390,291	$ 157,572	$ 161,964
New mortgage loans	0	310,338	98,469
Draws and additions to existing mortgage loans	5,525	9,370	19,182
Total additions	5,525	319,708	117,651
Principal repayments	(47,591)	(84,486)	(113,200)
Reserve for loan losses	(6,476)	(2,503)	(8,843)
Total deductions	(54,067)	(86,989)	(122,043)
Balance at end of year	$ 341,749	$ 390,291	$ 157,572

Uncategorized Items - peak-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]	[1]
[1]On January 1, 2020, the Company adopted a series of Accounting Standards Updates (“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.