Healthpeak Properties (DOC) 10-K 9 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 07, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 9.2
Entity Common Stock, Shares Outstanding		547,172,983
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive Proxy Statement for the registrant’s 2024 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2023, have been incorporated by reference into Part III of this Report.
Entity Central Index Key	0000765880
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
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, 2023	Dec. 31, 2022
Real estate:
Buildings and improvements	$ 13,329,464	$ 12,784,078
Development costs and construction in progress	643,217	760,355
Land and improvements	2,647,633	2,667,188
Accumulated depreciation and amortization	(3,591,951)	(3,188,138)
Net real estate	13,028,363	13,023,483
Loans receivable, net of reserves of $2,830 and $8,280	218,450	374,832
Investments in and advances to unconsolidated joint ventures	782,853	706,677
Accounts receivable, net of allowance of $2,282 and $2,399	55,820	53,436
Cash and cash equivalents	117,635	72,032
Restricted cash	51,388	54,802
Intangible assets, net	314,156	418,061
Assets held for sale, net	117,986	49,866
Right-of-use asset, net	240,155	237,318
Other assets, net	772,044	780,722
Total assets	15,698,850	15,771,229
LIABILITIES AND EQUITY
Bank line of credit and commercial paper	720,000	995,606
Term loans	496,824	495,957
Senior unsecured notes	5,403,378	4,659,451
Mortgage debt	256,097	346,599
Intangible liabilities, net	127,380	156,193
Liabilities related to assets held for sale, net	729	4,070
Lease liability	206,743	208,515
Accounts payable, accrued liabilities, and other liabilities	657,196	772,485
Deferred revenue	905,633	844,076
Total liabilities	8,773,980	8,482,952
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests	48,828	105,679
Common stock, $1.00 par value: 750,000,000 shares authorized; 547,156,311 and 546,641,973 shares issued and outstanding	547,156	546,642
Additional paid-in capital	10,405,780	10,349,614
Cumulative dividends in excess of earnings	(4,621,861)	(4,269,689)
Accumulated other comprehensive income (loss)	19,371	28,134
Total stockholders’ equity	6,350,446	6,654,701
Joint venture partners	310,998	327,721
Non-managing member unitholders	214,598	200,176
Total noncontrolling interests	525,596	527,897
Total equity	6,876,042	7,182,598
Total liabilities and equity	$ 15,698,850	$ 15,771,229

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Reserve for loans receivable	$ 2,830	$ 8,280
Allowance for accounts receivable	$ 2,282	$ 2,399
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)	547,156,311	546,641,973
Common stock, shares outstanding (in shares)	547,156,311	546,641,973

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental and related revenues	$ 1,631,805	$ 1,541,775	$ 1,378,384
Resident fees and services	527,417	494,935	471,325
Interest income	21,781	23,300	37,773
Income from direct financing leases	0	1,168	8,702
Total revenues	2,181,003	2,061,178	1,896,184
Costs and expenses:
Interest expense	200,331	172,944	157,980
Depreciation and amortization	749,901	710,569	684,286
Operating	902,060	862,991	773,279
General and administrative	95,132	131,033	98,303
Transaction and merger-related costs	17,515	4,853	1,841
Impairments and loan loss reserves (recoveries), net	(5,601)	7,004	23,160
Total costs and expenses	1,959,338	1,889,394	1,738,849
Other income (expense):
Gain (loss) on sales of real estate, net	86,463	9,078	190,590
Gain (loss) on debt extinguishments	0	0	(225,824)
Other income (expense), net	6,808	326,268	6,266
Total other income (expense), net	93,271	335,346	(28,968)
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	314,936	507,130	128,367
Income tax benefit (expense)	9,617	4,425	3,261
Equity income (loss) from unconsolidated joint ventures	10,204	1,985	6,100
Income (loss) from continuing operations	334,757	513,540	137,728
Income (loss) from discontinued operations	0	2,884	388,202
Net income (loss)	334,757	516,424	525,930
Noncontrolling interests’ share in continuing operations	(28,748)	(15,975)	(17,851)
Noncontrolling interests’ share in discontinued operations	0	0	(2,539)
Net income (loss) attributable to Healthpeak Properties, Inc.	306,009	500,449	505,540
Participating securities’ share in earnings	(1,725)	(2,657)	(3,269)
Net income (loss) applicable to common shares	$ 304,284	$ 497,792	$ 502,271
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.56	$ 0.92	$ 0.22
Discontinued operations (in dollars per share)	0	0	0.71
Net income (loss) applicable to common shares (in dollars per share)	0.56	0.92	0.93
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.56	0.92	0.22
Discontinued operations (in dollars per share)	0	0	0.71
Net income (loss) applicable to common shares (in dollars per share)	$ 0.56	$ 0.92	$ 0.93
Weighted average shares outstanding:
Basic (in shares)	547,006	538,809	538,930
Diluted (in shares)	547,275	539,147	539,241

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income (loss)	$ 334,757	$ 516,424	$ 525,930
Other comprehensive income (loss):
Net unrealized gains (losses) on derivatives	(8,900)	30,145	332
Change in Supplemental Executive Retirement Plan obligation and other	137	1,136	457
Reclassification adjustment realized in net income (loss)	0	0	(251)
Total other comprehensive income (loss)	(8,763)	31,281	538
Total comprehensive income (loss)	325,994	547,705	526,468
Total comprehensive income (loss) attributable to Healthpeak Properties, Inc.	297,246	531,730	506,078
Continuing Operations
Other comprehensive income (loss):
Total comprehensive (income) loss attributable to noncontrolling interests	(28,748)	(15,975)	(17,851)
Discontinued Operations
Other comprehensive income (loss):
Total comprehensive (income) loss attributable to noncontrolling interests	$ 0	$ 0	$ (2,539)

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
Balance (in shares) at Dec. 31, 2020			538,405
Balance at Dec. 31, 2020	$ 7,289,950	$ 6,733,723	$ 538,405	$ 10,175,235	$ (3,976,232)	$ (3,685)	$ 556,227
Increase (Decrease) in 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
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
Beginning balance at Dec. 31, 2020	57,396
Increase (Decrease) in Redeemable Noncontrolling Interests
Net income (loss)	44
Distributions to noncontrolling interests	(162)
Purchase of noncontrolling interests	(60,065)
Contributions from noncontrolling interests	640
Adjustments to redemption value of redeemable noncontrolling interests	89,491
Ending balance at Dec. 31, 2021	87,344
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
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)
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
Increase (Decrease) in Stockholders' Equity
Net income (loss)	334,120	306,009			306,009		28,111
Other comprehensive income (loss)	(8,763)	(8,763)				(8,763)
Issuance of common stock, net (in shares)			683
Issuance of common stock, net	1,438	1,438	$ 683	755
Conversion of DownREIT units to common stock (in shares)			72
Conversion of DownREIT units to common stock	0	1,272	$ 72	1,200			(1,272)
Repurchase of common stock (in shares)			(241)
Repurchase of common stock	(6,524)	(6,524)	$ (241)	(6,283)
Stock-based compensation	18,659	2,966		2,966			15,693
Common dividends	(658,181)	(658,181)			(658,181)
Distributions to noncontrolling interests	(44,848)						(44,848)
Purchase of noncontrolling interests	(158)						(158)
Contributions from noncontrolling interests	173						173
Adjustments to redemption value of redeemable noncontrolling interests	57,528	57,528		57,528
Balance (in shares) at Dec. 31, 2023			547,156
Balance at Dec. 31, 2023	6,876,042	$ 6,350,446	$ 547,156	$ 10,405,780	$ (4,621,861)	$ 19,371	$ 525,596
Increase (Decrease) in Redeemable Noncontrolling Interests
Net income (loss)	637
Distributions to noncontrolling interests	(276)
Purchase of noncontrolling interests	0
Contributions from noncontrolling interests	316
Adjustments to redemption value of redeemable noncontrolling interests	(57,528)
Ending balance at Dec. 31, 2023	$ 48,828

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common dividends, per share (in dollars per share)	$ 1.20	$ 1.20	$ 1.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 334,757	$ 516,424	$ 525,930
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	749,901	710,569	684,286
Stock-based compensation amortization expense	14,480	26,456	18,202
Amortization of deferred financing costs	11,916	10,881	9,216
Straight-line rents	(14,387)	(49,183)	(31,188)
Amortization of nonrefundable entrance fees and above (below) market lease intangibles	(108,988)	(102,747)	(94,362)
Equity loss (income) from unconsolidated joint ventures	(10,204)	(2,049)	(11,235)
Distributions of earnings from unconsolidated joint ventures	910	943	4,976
Loss (gain) on sale of real estate under direct financing leases	0	(22,693)	0
Deferred income tax expense (benefit)	(14,605)	(6,001)	(5,792)
Impairments and loan loss reserves (recoveries), net	(5,601)	7,004	55,896
Loss (gain) on debt extinguishments	0	0	225,824
Loss (gain) on sales of real estate, net	(86,463)	(10,422)	(605,311)
Loss (gain) upon change of control, net	(234)	(311,438)	(1,042)
Casualty-related loss (recoveries), net	(3,085)	7,168	1,632
Other non-cash items	4,900	6,489	(8,178)
Changes in:
Decrease (increase) in accounts receivable and other assets, net	(21,566)	(17,433)	18,626
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue	104,511	136,293	7,768
Net cash provided by (used in) operating activities	956,242	900,261	795,248
Cash flows from investing activities:
Acquisitions of real estate	(15,847)	(178,133)	(1,483,026)
Development, redevelopment, and other major improvements of real estate	(731,206)	(861,636)	(610,555)
Leasing costs, tenant improvements, and recurring capital expenditures	(113,596)	(108,510)	(111,480)
Proceeds from sales of real estate, net	141,651	47,885	2,399,120
Proceeds from the South San Francisco JVs transaction, net	0	125,985	0
Investments in unconsolidated joint ventures	(88,391)	(21,143)	(25,260)
Distributions in excess of earnings from unconsolidated joint ventures	20,640	12,518	37,640
Proceeds from insurance recovery	24,980	1,450	0
Proceeds from sales/principal repayments on loans receivable, direct financing leases, and marketable debt securities	204,865	115,988	342,420
Investments in loans receivable and other	(19,850)	(10,747)	(17,827)
Net cash provided by (used in) investing activities	(576,754)	(876,343)	531,032
Cash flows from financing activities:
Borrowings under bank line of credit and commercial paper	10,344,705	15,882,153	16,821,450
Repayments under bank line of credit and commercial paper	(10,620,311)	(16,052,522)	(15,785,065)
Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt	743,778	500,000	1,088,537
Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt	(90,089)	(5,048)	(2,425,936)
Payments for debt extinguishment and deferred financing costs	(7,322)	(4,171)	(236,942)
Issuance of common stock and exercise of options, net of offering costs	278	308,100	5,036
Repurchase of common stock	(6,524)	(67,838)	(12,841)
Dividends paid on common stock	(657,021)	(648,047)	(650,082)
Distributions to and purchase of noncontrolling interests	(45,282)	(30,549)	(93,314)
Contributions from and issuance of noncontrolling interests	489	1,390	640
Net cash provided by (used in) financing activities	(337,299)	(116,532)	(1,288,517)
Net increase (decrease) in cash, cash equivalents, and restricted cash	42,189	(92,614)	37,763
Cash, cash equivalents, and restricted cash, beginning of year	126,834	219,448	181,685
Cash, cash equivalents, and restricted cash, end of year	$ 169,023	$ 126,834	$ 219,448

Business

Business	12 Months Ended
	Dec. 31, 2023
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) lab; (ii) outpatient medical; 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 10, 2023, the Company completed its corporate reorganization (the “Reorganization”) into an umbrella partnership REIT (“UPREIT”). Substantially all of the Company’s business is conducted through Healthpeak OP, LLC (“Healthpeak OP”). The Company is the managing member of Healthpeak OP and does not have material assets or liabilities, other than through its investment in Healthpeak OP. For additional information on the UPREIT reorganization, see the Company’s Current Report on Form 8-K12B filed with the U.S. Securities and Exchange Commission (“SEC”) on February 10, 2023. The Merger Agreement On October 29, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Physicians Realty Trust, Physicians Realty L.P. (the “Physicians Partnership”), and certain of the Company’s subsidiaries, pursuant to which, among other things, and through a series of transactions (the “Mergers”), (i) each outstanding common share of Physicians Realty Trust (other than Physicians Realty Trust common shares to be canceled in accordance with the Merger Agreement) will be converted into the right to receive 0.674 (the “Exchange Ratio”) shares of Company common stock, and (ii) each outstanding common unit of the Physicians Partnership will be converted into common units in the successor entity to the Physicians Partnership equal to the Exchange Ratio. Following the transactions contemplated in the Merger Agreement, the successor entities to Physicians Realty Trust and the Physicians Partnership will be subsidiaries of Healthpeak OP. The Merger Agreement contains customary representations, warranties, and covenants, as well as certain termination rights for the Company and Physicians Realty Trust, in each case, as more fully described in the Merger Agreement. During the year ended December 31, 2023, the Company incurred approximately $11 million of merger-related costs, which primarily related to advisory, legal, accounting, and other costs. These merger-related costs are included in transaction and merger-related costs on the Consolidated Statements of Operations. In addition, the Company has engaged service providers, including investment banks and advisors, to help the Company negotiate the terms of the transactions contemplated by the Merger Agreement and to advise the Company on other merger-related matters. In connection with these services, the Company expects to be required to pay success-based fees to the extent that certain conditions, including the closing of the transactions contemplated by the Merger Agreement, are met. As of December 31, 2023, the Company expects to incur approximately $22 million of such success fees. As closing of the transactions contemplated by the Merger Agreement has not occurred, no such amounts have been paid or accrued through December 31, 2023.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
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 lab and outpatient medical buildings 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 building’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 accounts receivable and 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. The Company does not resume recognition of income on a straight-line basis unless it determines that collectibility of future payments related to these leases is probable. For the Company’s portfolio of operating leases that are deemed probable of collection but exhibit a certain level of collectibility risk, the Company may also recognize an incremental allowance as a reduction to revenue. 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. 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, 2023, 2022, and 2021, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenues during the coronavirus pandemic. 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, 2023, the amount of qualifying expenditures and lost revenues 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, 2023 2022 2021 Government grant income recorded in other income (expense), net $ 184 $ 6,765 $ 1,412 Government grant income recorded in equity income (loss) from unconsolidated joint ventures 229 878 1,749 Government grant income recorded in income (loss) from discontinued operations — 217 3,669 Total government grants received $ 413 $ 7,860 $ 6,830 Credit Losses The Company evaluates the liquidity and creditworthiness of its occupants, operators, and borrowers on a monthly and quarterly basis to determine whether any updates to the future expected losses recognized upon inception are necessary. The Company’s evaluation considers payment history and current credit status, industry conditions, current economic conditions, forecasted economic conditions, individual and portfolio property performance, credit enhancements, liquidity, and other factors. Future economic conditions are based primarily on near-term economic forecasts from the Federal Reserve and reasonable assumptions for long-term economic trends. 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 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 in its assessment of internal ratings 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 over the lease term. The Company computes depreciation on properties using the straight-line method over the assets’ estimated useful lives. These useful lives are reassessed following changes in the remaining period that the asset is expected to be held and used, and depreciation is discontinued when a property meets the criteria to be classified as held for sale. Buildings and improvements are depreciated over useful lives ranging up to approximately 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 external market factors and the expected use and eventual disposition of the asset, and based on the specific facts and circumstances, may be 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 In 2020, the Company concluded that the dispositions of its senior housing triple-net and SHOP portfolios represented a strategic shift that had a major effect on its operations and financial results. Therefore, the results of senior housing triple-net and SHOP assets 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 4 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. Stock-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

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Real Estate	Real Estate 2023 Real Estate Investment Acquisitions 60 Loomis Land Parcel In January 2023, the Company acquired a lab land parcel in Cambridge, Massachusetts for $9 million. Wylie Outpatient Medical Building In April 2023, the Company acquired the remaining 80% interest in one of the outpatient medical buildings in the Ventures IV unconsolidated joint venture for $4 million (see Note 8). Concurrent with the acquisition, the Company began consolidating the building and recognized a gain upon change of control of $0.2 million, which is recorded in other income (expense), net. 2022 Real Estate Investment Acquisitions 67 Smith Place In January 2022, the Company closed a lab acquisition in Cambridge, Massachusetts for $72 million. Vista Sorrento Phase II In January 2022, the Company closed a lab acquisition in San Diego, California for $24 million. Webster Outpatient Medical Portfolio In March 2022, the Company acquired a portfolio of two outpatient medical buildings in Houston, Texas for $43 million. Northwest Medical Plaza In May 2022, the Company acquired one outpatient medical building in Bentonville, Arkansas for $26 million. Concord Avenue Land Parcels In December 2022, the Company closed a lab acquisition in Cambridge, Massachusetts for $18 million. 2021 Real Estate Investment Acquisitions In 2021, the Company closed the following lab 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 outpatient medical acquisitions: (i) one outpatient medical building in Nashville, Tennessee for $13 million, (ii) one outpatient medical building in Denver, Colorado for $38 million, (iii) a portfolio of 14 outpatient medical buildings for $371 million (the “Outpatient Medical Building Portfolio”), (iv) one outpatient medical building in Fort Lauderdale, Florida for $16 million, (v) one outpatient medical building in Wichita, Kansas for $50 million, (vi) three outpatient medical buildings in Morristown, New Jersey for $155 million, (vii) two outpatient medical buildings in Dallas, Texas for $60 million, (viii) one outpatient medical building in Seattle, Washington for $43 million, (ix) one outpatient medical building in New Orleans, Louisiana for $34 million, and (x) one outpatient medical building in Cambridge, Massachusetts for $55 million. In conjunction with the acquisition of the Outpatient Medical Building Portfolio, the Company originated $142 million of secured mortgage debt (see Note 10). Development Activities Construction, Tenant, and Other Capital Improvements The following table summarizes the Company’s expenditures for construction, tenant improvements, and other capital improvements for its consolidated property investments, excluding expenditures related to properties classified as discontinued operations (in thousands): Year Ended December 31, Segment 2023 2022 2021 Lab $ 428,961 $ 658,542 $ 472,301 Outpatient medical 236,135 237,761 230,227 CCRC 109,465 65,691 57,192 $ 774,561 $ 961,994 $ 759,720

Dispositions of Real Estate and

Dispositions of Real Estate and Discontinued Operations	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Dispositions of Real Estate and Discontinued Operations	Dispositions of Real Estate and Discontinued Operations 2023 Dispositions of Real Estate During the three months ended March 31, 2023, the Company sold two lab buildings in Durham, North Carolina, which were classified as held for sale as of December 31, 2022, for $113 million, resulting in total gain on sales of $60 million. Also during the three months ended March 31, 2023, the Company sold two outpatient medical buildings for $32 million, resulting in total gain on sales of $21 million. 2022 Dispositions of Real Estate During the three months ended March 31, 2022, the Company sold one lab building 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 outpatient medical buildings and one outpatient medical land parcel for $27 million, resulting in total gain on sales of $10 million. During the three months ended September 30, 2022, the Company sold two outpatient medical buildings for $9 million, resulting in total gain on sales of $1 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 and (ii) a commitment to finance up to $92 million of additional debt for capital expenditures (see Note 7) . 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 7). 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 outpatient medical buildings and a portion of 1 outpatient medical 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. Held for Sale and Discontinued Operations As of December 31, 2023, two lab buildings and one outpatient medical building were classified as held for sale, with a carrying value of $118 million, primarily comprised of net real estate assets. As of December 31, 2023, liabilities related to the assets held for sale were $1 million. In January 2024, we sold a 65% interest in these two lab buildings (see Note 8). As of December 31, 2022, two lab buildings were classified as held for sale, with an aggregate carrying value of $50 million, primarily comprised of net real estate assets of $44 million. As of December 31, 2022, liabilities related to these assets held for sale were $4 million. These two lab buildings were sold during the three months ended March 31, 2023, as discussed above. In 2020, the Company concluded that the dispositions of its senior housing triple-net and SHOP portfolios represented a strategic shift that had a major effect on its operations and financial results. Therefore, the results of senior housing triple-net and SHOP assets 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. At each of December 31, 2023 and 2022, the total assets and total liabilities classified as discontinued operations were zero. The results of discontinued operations during the years ended December 31, 2023, 2022, and 2021 are presented below (in thousands) and are included in the consolidated results of operations for the years ended December 31, 2023, 2022, and 2021: Year Ended December 31, 2023 2022 2021 Revenues: Rental and related revenues $ — $ — $ 7,535 Resident fees and services — 7,489 114,936 Total revenues — 7,489 122,471 Costs and expenses: Interest expense — — 3,900 Operating — 6,452 122,571 Transaction and merger-related costs — — 76 Impairments and loan loss reserves (recoveries), net — — 32,736 Total costs and expenses — 6,452 159,283 Other income (expense): Gain (loss) on sales of real estate, net — 1,344 414,721 Other income (expense), net — 169 4,189 Total other income (expense), net — 1,513 418,910 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures — 2,550 382,098 Income tax benefit (expense) — 270 969 Equity income (loss) from unconsolidated joint ventures — 64 5,135 Income (loss) from discontinued operations $ — $ 2,884 $ 388,202

Impairments of Real Estate

Impairments of Real Estate	12 Months Ended
	Dec. 31, 2023
Asset Impairment Charges [Abstract]
Impairments of Real Estate	Impairments of Real Estate 2023 and 2022 During the years ended December 31, 2023 and 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 outpatient medical buildings that met the held for sale criteria during the year and (ii) one outpatient medical building held for use; the aggregate fair value of these four outpatient medical buildings was $14 million as of the related impairment assessment dates. For the three outpatient medical buildings 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 outpatient medical building held for use, the Company recognized a $17 million impairment charge in the fourth quarter of 2021 due to the demolition of the outpatient medical building 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. 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, 2023, 2022, and 2021, the fair value of the assets within each of the Company’s other reporting units was greater than the respective carrying value of the assets and related goodwill, and as a result, no impairment 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, 2023, 2022, and 2021, the Company recognized $(3) million, $6 million, and $5 million, respectively, of net casualty-related charges (recoveries). During the year ended December 31, 2023, such recoveries were primarily attributable to proceeds received for water damage at an outpatient medical building. 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. Also during the years ended December 31, 2023, 2022, and 2021, the Company collected business interruption proceeds of $4 million, $3 million, and zero, respectively, which are recognized in rental and related revenues and resident fees and services on the Consolidated Statements of Operations. Other Losses During the year ended December 31, 2022, the Company recognized $14 million of expenses within other income (expense), net on the Consolidated Statements of Operations for tenant relocation and other costs associated with the demolition of an outpatient medical building. See Note 7 for information related to the Company’s reserve for loan losses.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2023 2022 2021 Fixed income from operating leases $ 1,236,502 $ 1,182,463 $ 1,087,683 Variable income from operating leases 395,303 359,312 290,701 Interest income from direct financing leases — 1,168 8,702 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. Therefore, at December 31, 2023 and 2022, the Company had no leases classified as a DFL. 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, 2023 (in thousands): Year Amount 2024 $ 1,135,628 2025 1,063,147 2026 975,246 2027 888,223 2028 788,742 Thereafter 2,818,655 $ 7,669,641 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 2024 $ 14,199 12 2025 14,244 16 2026 16,422 8 2027 8,116 5 2028 1,252 1 Thereafter 16,212 5 $ 70,445 47 _______________________________________ (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 discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2023 2022 2021 Total lease expense $ 17,010 $ 16,689 $ 14,442 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 51 Weighted average discount rate: Operating leases 4.23 % 4.20 % _______________________________________ (1) As of both December 31, 2023 and 2022, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years. 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, 2023 (in thousands): Year Amount 2024 $ 16,950 2025 12,399 2026 12,326 2027 12,321 2028 12,351 Thereafter 475,584 Undiscounted minimum lease payments included in the lease liability 541,931 Less: imputed interest (335,188) Present value of lease liability $ 206,743 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 both December 31, 2023 and 2022 is $10 million of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2023, 2022, and 2021 is $3 million, $3 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 which are included in general and administrative expenses on the Consolidated Statements of Operations. Tenant Updates During the first quarter of 2023, the Company wrote off $9 million of straight-line rent receivable associated with four in-place operating leases with Sorrento Therapeutics, Inc. (“Sorrento”), which commenced voluntary reorganization proceedings (the “Filing”) under Chapter 11 of the U.S. Bankruptcy Code during the period. This write-off was recognized as a reduction in rental and related revenues on the Consolidated Statements of Operations. Subsequent to the write-off, revenue related to this tenant is recognized on a cash basis. Sorrento also had a single development lease with the Company, but had not taken occupancy at the time of the Filing. Subsequent to the Filing, the U.S. Bankruptcy Court approved Sorrento’s rejection of the development lease and three of the four operating leases, resulting in termination of these four leases during the year ended December 31, 2023. The Company filed proofs of claim for related damages during the year, $4 million of which was received by the Company by drawing on Sorrento’s related letters of credit and security deposits. These cash proceeds were recognized as rental revenue and lease termination fee income, which is included in rental and related revenues on the Consolidated Statements of Operations. Given the nature of bankruptcy proceedings, the probability, timing, or amount of the additional proceeds, if any, that the Company may ultimately receive in connection with the Company’s claims related to the rejected leases is uncertain. Accordingly, the Company has not recorded any estimated recoveries associated with these claims as of December 31, 2023. On October 26, 2023, the Company amended its lease with Graphite Bio, Inc. (“Graphite Bio”) at one of its lab buildings in South San Francisco, California. Under the terms of the amended lease agreement, Graphite Bio’s lease expiration date was accelerated from April 2033 to December 2024 in exchange for an upfront cash payment of $37 million, comprised of a $21 million termination fee and $16 million prepayment of Graphite Bio's contractual rent through the amended term. The $37 million will be recognized as rental and related revenues on the Consolidated Statements of Operations on a straight-line basis through the amended term of the lease.
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2023 2022 2021 Fixed income from operating leases $ 1,236,502 $ 1,182,463 $ 1,087,683 Variable income from operating leases 395,303 359,312 290,701 Interest income from direct financing leases — 1,168 8,702 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. Therefore, at December 31, 2023 and 2022, the Company had no leases classified as a DFL. 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, 2023 (in thousands): Year Amount 2024 $ 1,135,628 2025 1,063,147 2026 975,246 2027 888,223 2028 788,742 Thereafter 2,818,655 $ 7,669,641 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 2024 $ 14,199 12 2025 14,244 16 2026 16,422 8 2027 8,116 5 2028 1,252 1 Thereafter 16,212 5 $ 70,445 47 _______________________________________ (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 discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2023 2022 2021 Total lease expense $ 17,010 $ 16,689 $ 14,442 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 51 Weighted average discount rate: Operating leases 4.23 % 4.20 % _______________________________________ (1) As of both December 31, 2023 and 2022, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years. 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, 2023 (in thousands): Year Amount 2024 $ 16,950 2025 12,399 2026 12,326 2027 12,321 2028 12,351 Thereafter 475,584 Undiscounted minimum lease payments included in the lease liability 541,931 Less: imputed interest (335,188) Present value of lease liability $ 206,743 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 both December 31, 2023 and 2022 is $10 million of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2023, 2022, and 2021 is $3 million, $3 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 which are included in general and administrative expenses on the Consolidated Statements of Operations. Tenant Updates During the first quarter of 2023, the Company wrote off $9 million of straight-line rent receivable associated with four in-place operating leases with Sorrento Therapeutics, Inc. (“Sorrento”), which commenced voluntary reorganization proceedings (the “Filing”) under Chapter 11 of the U.S. Bankruptcy Code during the period. This write-off was recognized as a reduction in rental and related revenues on the Consolidated Statements of Operations. Subsequent to the write-off, revenue related to this tenant is recognized on a cash basis. Sorrento also had a single development lease with the Company, but had not taken occupancy at the time of the Filing. Subsequent to the Filing, the U.S. Bankruptcy Court approved Sorrento’s rejection of the development lease and three of the four operating leases, resulting in termination of these four leases during the year ended December 31, 2023. The Company filed proofs of claim for related damages during the year, $4 million of which was received by the Company by drawing on Sorrento’s related letters of credit and security deposits. These cash proceeds were recognized as rental revenue and lease termination fee income, which is included in rental and related revenues on the Consolidated Statements of Operations. Given the nature of bankruptcy proceedings, the probability, timing, or amount of the additional proceeds, if any, that the Company may ultimately receive in connection with the Company’s claims related to the rejected leases is uncertain. Accordingly, the Company has not recorded any estimated recoveries associated with these claims as of December 31, 2023. On October 26, 2023, the Company amended its lease with Graphite Bio, Inc. (“Graphite Bio”) at one of its lab buildings in South San Francisco, California. Under the terms of the amended lease agreement, Graphite Bio’s lease expiration date was accelerated from April 2033 to December 2024 in exchange for an upfront cash payment of $37 million, comprised of a $21 million termination fee and $16 million prepayment of Graphite Bio's contractual rent through the amended term. The $37 million will be recognized as rental and related revenues on the Consolidated Statements of Operations on a straight-line basis through the amended term of the lease.
Leases	Leases Lease Income The following table summarizes the Company’s lease income, excluding discontinued operations (in thousands): Year Ended December 31, 2023 2022 2021 Fixed income from operating leases $ 1,236,502 $ 1,182,463 $ 1,087,683 Variable income from operating leases 395,303 359,312 290,701 Interest income from direct financing leases — 1,168 8,702 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. Therefore, at December 31, 2023 and 2022, the Company had no leases classified as a DFL. 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, 2023 (in thousands): Year Amount 2024 $ 1,135,628 2025 1,063,147 2026 975,246 2027 888,223 2028 788,742 Thereafter 2,818,655 $ 7,669,641 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 2024 $ 14,199 12 2025 14,244 16 2026 16,422 8 2027 8,116 5 2028 1,252 1 Thereafter 16,212 5 $ 70,445 47 _______________________________________ (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 discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2023 2022 2021 Total lease expense $ 17,010 $ 16,689 $ 14,442 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 51 Weighted average discount rate: Operating leases 4.23 % 4.20 % _______________________________________ (1) As of both December 31, 2023 and 2022, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years. 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, 2023 (in thousands): Year Amount 2024 $ 16,950 2025 12,399 2026 12,326 2027 12,321 2028 12,351 Thereafter 475,584 Undiscounted minimum lease payments included in the lease liability 541,931 Less: imputed interest (335,188) Present value of lease liability $ 206,743 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 both December 31, 2023 and 2022 is $10 million of accumulated depreciation related to corporate assets. Included within general and administrative expenses for the years ended December 31, 2023, 2022, and 2021 is $3 million, $3 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 which are included in general and administrative expenses on the Consolidated Statements of Operations. Tenant Updates During the first quarter of 2023, the Company wrote off $9 million of straight-line rent receivable associated with four in-place operating leases with Sorrento Therapeutics, Inc. (“Sorrento”), which commenced voluntary reorganization proceedings (the “Filing”) under Chapter 11 of the U.S. Bankruptcy Code during the period. This write-off was recognized as a reduction in rental and related revenues on the Consolidated Statements of Operations. Subsequent to the write-off, revenue related to this tenant is recognized on a cash basis. Sorrento also had a single development lease with the Company, but had not taken occupancy at the time of the Filing. Subsequent to the Filing, the U.S. Bankruptcy Court approved Sorrento’s rejection of the development lease and three of the four operating leases, resulting in termination of these four leases during the year ended December 31, 2023. The Company filed proofs of claim for related damages during the year, $4 million of which was received by the Company by drawing on Sorrento’s related letters of credit and security deposits. These cash proceeds were recognized as rental revenue and lease termination fee income, which is included in rental and related revenues on the Consolidated Statements of Operations. Given the nature of bankruptcy proceedings, the probability, timing, or amount of the additional proceeds, if any, that the Company may ultimately receive in connection with the Company’s claims related to the rejected leases is uncertain. Accordingly, the Company has not recorded any estimated recoveries associated with these claims as of December 31, 2023. On October 26, 2023, the Company amended its lease with Graphite Bio, Inc. (“Graphite Bio”) at one of its lab buildings in South San Francisco, California. Under the terms of the amended lease agreement, Graphite Bio’s lease expiration date was accelerated from April 2033 to December 2024 in exchange for an upfront cash payment of $37 million, comprised of a $21 million termination fee and $16 million prepayment of Graphite Bio's contractual rent through the amended term. The $37 million will be recognized as rental and related revenues on the Consolidated Statements of Operations on a straight-line basis through the amended term of the lease.

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Loans Receivable	Loans Receivable The following table summarizes the Company’s loans receivable (in thousands): December 31, 2023 2022 Secured loans (1) $ 178,678 $ 350,837 CCRC resident loans 42,733 33,083 Unamortized discounts and fees (131) (808) Reserve for loan losses (2,830) (8,280) Loans receivable, net $ 218,450 $ 374,832 _______________________________________ (1) At December 31, 2023 and 2022, the Company had $29 million and $40 million, respectively, remaining of commitments to fund additional loans for senior housing redevelopment and capital expenditure projects. During the years ended December 31, 2023, 2022, and 2021, the Company recognized $22 million, $22 million, and $36 million, respectively, of interest income related to loans secured by real estate. Sunrise Senior Housing Portfolio Seller Financing In conjunction with the sale of 32 SHOP facilities for $664 million in January 2021 (see Note 4), the Company provided the buyer with initial financing of $410 million. The remainder of the sales price was received in cash at the time of sale. Additionally, the Company agreed to provide up to $92 million of additional financing for capital expenditures (up to 65% of the estimated cost of capital expenditures). The initial and additional financing is secured by the buyer’s equity ownership in each property. In June 2023, the interest rate on this secured loan was converted from a variable rate based on LIBOR to a variable rate based on Term SOFR (plus a 10 basis point adjustment related to SOFR transition). In June 2021, February 2022, July 2022, and December 2022 , the Company received principal repayments of $246 million, $8 million, $27 million, and $10 million, respectively, in conjunction with the disposition of the underlying collateral. In connection with these principal repayments , the additional financing available was reduced to $40 million, of which $11 million had been funded as of December 31, 2023. At December 31, 2023 and 2022, this secured loan had an outstanding principal balance of $131 million and $120 million, respectively. In February 2024, the loan reached its maturity. The Company provided a short-term extension to the borrower, and the Company and the borrower are currently negotiating long-term refinance and extension terms. Other Seller Financing In conjunction with the sale of 16 additional SHOP facilities for $230 million in January 2021 (see Note 4), 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. Upon maturity in January 2023, the borrower did not make the required principal repayment. In February 2023, the borrower made a partial principal repayment of $102 million and the remaining balance owed was refinanced with the Company. In connection with the refinance, the maturity date of the loan was extended to January 2024 and the interest rate on the loan was increased to a variable rate based on Term SOFR (plus an 11 basis point adjustment related to SOFR transition) plus 6.0% for the first six months of the extended term, increasing to 7.0% for the last six months of the extended term. The Company also received a $1 million extension fee in connection with the refinance, which is recognized in interest income over the remaining term of the loan. At December 31, 2023 and 2022, this secured loan had an outstanding principal balance of $48 million and $150 million, respectively. In January 2024, the loan was refinanced with the Company. In connection with the refinance, the maturity date of the loan was extended to January 2025. The interest rate on the loan will remain as Term SOFR (plus an 11 basis point adjustment related to SOFR transition) plus 7.0% but is now subject to a fixed floor of 12%. The Company also received a $1 million extension fee in connection with the refinance, which is recognized in interest income over the remaining term of the loan. 2023 Other Loans Receivable Transactions In February 2023, the Company received full repayment of the outstanding balance of one $35 million secured loan. In April 2023, the Company received full repayment of the outstanding balance of one $14 million secured loan. In May 2023, the Company received full repayment of two outstanding secured loans with an aggregate balance of $12 million. Also in May 2023, the interest rate on one secured loan with an outstanding balance of $21 million was converted from a variable rate based on LIBOR to a variable rate based on Term SOFR (plus a 10 basis point adjustment related to SOFR transition). In October 2023, the Company received full repayment of the outstanding balance of this $21 million secured loan. 2022 Other Loans Receivable Transactions In May 2022, the Company received full repayment of the outstanding balance of one $2 million secured loan. In November 2022, the Company received full repayment of the outstanding balance of one $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 Term SOFR (plus an 11 basis point adjustment related to SOFR transition) with a floor of 8.5% for the first six months of the extended term, increasing to a floor of 10.5% for the last six months of the extended term. All four of these secured loans were repaid during 2023 as discussed above. 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 4), 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. 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 resident’s previous home. At December 31, 2023 and 2022, the Company held $43 million and $33 million, respectively, of such notes receivable. Loans Receivable Internal Ratings Refer to Note 2 for a discussion of the Company’s quarterly review process over its loans receivable and the related internal ratings process. 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, 2023 (in thousands): Investment Type Year of Origination Total 2023 2022 2021 (1) 2020 2019 Prior Secured loans Risk rating: Performing loans $ — $ — $ 175,717 $ — $ — $ — $ 175,717 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ — $ — $ 175,717 $ — $ — $ — $ 175,717 Current period gross write-offs $ — $ — $ — $ — $ — $ — $ — Current period recoveries — — — — — — — Current period net write-offs $ — $ — $ — $ — $ — $ — $ — CCRC resident loans Risk rating: Performing loans $ 42,132 $ 601 $ — $ — $ — $ — $ 42,733 Watch list loans — — — — — — — Workout loans — — — — — — — Total CCRC resident loans $ 42,132 $ 601 $ — $ — $ — $ — $ 42,733 Current period gross write-offs $ — $ — $ — $ — $ — $ — $ — Current period recoveries — — — — — — — Current period net write-offs $ — $ — $ — $ — $ — $ — $ — _______________________________________ (1) Additional financing funded on the Sunrise Senior Housing Portfolio Seller Financing (as discussed above) is included in the year of origination of the initial financing. Reserve for Loan Losses Refer to Note 2 for a discussion of the Company’s assessment of current expected credit losses for loans receivable and unfunded loan commitments. The following table summarizes the Company’s reserve for loan losses (in thousands): December 31, 2023 December 31, 2022 Secured Loans Other (1) Total Secured Loans Other (1) Total Reserve for loan losses, beginning of period $ 8,280 $ — $ 8,280 $ 1,804 $ 9 $ 1,813 Provision for expected loan losses 2,088 — 2,088 6,527 7 6,534 Expected loan losses (recoveries) related to loans sold or repaid (7,538) — (7,538) (51) (16) (67) Reserve for loan losses, end of period $ 2,830 $ — $ 2,830 $ 8,280 $ — $ 8,280 _______________________________________ (1) Includes CCRC resident loans and other loan activity. Additionally, at December 31, 2023 and 2022, a liability of $0.7 million and $0.8 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, 2023 is primarily due to: (i) principal repayments on seller financing, (ii) increased interest rates on variable rate loans, and (iii) macroeconomic conditions.

Investments in and Advances to

Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Joint Ventures	Investments in and Advances to Unconsolidated Joint Ventures The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Property Count (2) Ownership % (2) 2023 2022 South San Francisco JVs (3) Lab 7 70 $ 393,374 $ 309,969 SWF SH JV Other 19 54 332,693 345,978 Lab JV Lab 1 49 31,761 26,601 Needham Land Parcel JV (4) Lab — 38 17,084 15,391 Outpatient Medical JVs (5) Outpatient medical 2 20 - 67 7,941 8,738 $ 782,853 $ 706,677 _______________________________________ (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, 2023. (3) Includes seven unconsolidated lab 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 JVs” below for further information. (4) Land held for development is excluded from the property count as of December 31, 2023. (5) Includes two unconsolidated outpatient medical joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%) and (ii) Suburban Properties, LLC (67%). As of December 31, 2022, these joint ventures held a total of three properties. In April 2023, the Company acquired the remaining 80% interest in one of the two properties in the Ventures IV unconsolidated joint venture for $4 million (see Note 3 ) . These joint ventures have been aggregated herein due to similarity of the investments and operations. At December 31, 2023 and 2022, the aggregate unamortized basis difference of the Company’s investments in unconsolidated joint ventures of $49 million and $41 million, respectively, is primarily attributable to the difference between the amount for which the Company purchased its interest in the Lab JV and the historical carrying value of the net assets of the Lab JV and capitalized interest related to the redevelopment activities at the South San Francisco JVs. The differences are amortized over the remaining useful lives of the related assets and are included in equity income (loss) from unconsolidated joint ventures. South San Francisco JVs On August 1, 2022, the Company sold a 30% interest in seven lab buildings 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 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. Callan Ridge JV In December 2023, the Company entered into definitive agreements with a third party to sell a 65% interest in two lab buildings in San Diego, California. The Company received an $8 million nonrefundable deposit upon completion of due diligence in December 2023. As of December 31, 2023, these two lab buildings had a carrying value of $110 million and were classified as held for sale (see Note 4). In January 2024, the transaction closed and the Company received net proceeds of $128 million in connection with the sale of the 65% interest.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2023
Intangibles [Abstract]
Intangibles	Intangibles Intangible assets primarily consist of lease-up intangibles and above market lease intangibles. The following table summarizes the Company’s intangible lease assets (dollars in thousands): December 31, Intangible lease assets 2023 2022 (1) Gross intangible lease assets $ 739,228 $ 770,285 Accumulated depreciation and amortization (425,072) (352,224) Intangible assets, net $ 314,156 $ 418,061 Weighted average remaining amortization period in years 5 5 _______________________________________ (1) Excludes intangible assets reported in assets held for sale of $2 million. 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 2023 2022 Gross intangible lease liabilities $ 228,105 $ 237,464 Accumulated depreciation and amortization (100,725) (81,271) Intangible liabilities, net $ 127,380 $ 156,193 Weighted average remaining amortization period in years 7 7 The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands): Year Ended December 31, 2023 2022 2021 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 102,249 $ 104,885 $ 106,106 Rental and related revenues related to amortization of net below market lease liabilities (1) 27,012 24,640 20,597 _______________________________________ (1) Excludes amortization related to assets classified as discontinued operations. During the year ended December 31, 2023, in conjunction with the Company’s acquisition of real estate, the Company acquired $0.5 million of intangible assets with a weighted average amortization period at acquisition of 5 years. 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. 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 2024 $ 22,577 $ 95,208 2025 21,560 83,629 2026 19,071 51,580 2027 15,064 25,981 2028 11,945 16,216 Thereafter 29,909 34,288 $ 120,126 $ 306,902 Goodwill At each of December 31, 2023 and 2022, the Company’s goodwill balance was $18 million

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Subsequent to the Reorganization, Healthpeak OP, the Company’s consolidated operating subsidiary, is the borrower under, and the Company is the guarantor of, all of the unsecured debt discussed below, which includes the Revolving Facility, Term Loan Facilities, Commercial Paper Program (each as defined below), and senior unsecured notes. The Company’s guarantee of the senior unsecured notes is full and unconditional and applicable to existing and future senior unsecured notes. 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. 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 applicable interest rate benchmark plus a margin that depends on the credit ratings of the Company’s senior unsecured long-term debt. On February 10, 2023, the Company executed an amendment to the Revolving Facility to convert the interest rate benchmark from LIBOR to SOFR. 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, 2023, and inclusive of achievement of a sustainability-linked metric, the margin on the Revolving Facility was 0.85% and the facility fee was 0.15%. 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. At each of December 31, 2023 and 2022, the Company had no balance outstanding under the Revolving Facility. On August 22, 2022, the Company executed a term loan agreement (the “Term Loan Agreement”) that provided for two senior unsecured delayed draw term loans in an aggregate principal amount of up to $500 million (the “Term Loan Facilities”). The Term Loan Facilities were available to be drawn from time to time during a 180-day period after closing, subject to customary borrowing conditions, and the Company drew the entirety of the $500 million under the Term Loan Facilities in October 2022. $250 million of the 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 Term Loan Facilities has a stated maturity of 5 years with no option to extend. At each of December 31, 2023 and 2022, the Company had $500 million outstanding under the Term Loan Facilities. Loans outstanding under the Term Loan Facilities accrue interest at Term SOFR plus a margin that depends on the credit ratings of the Company’s senior unsecured long-term debt. The Term Loan Agreement also includes a sustainability-linked pricing component whereby the applicable margin under the 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, 2023, and inclusive of achievement of a sustainability-linked metric, the margin on the Term Loan Facilities was 0.94%. The 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. In August 2022, the Company entered into two forward-starting interest rate swap instruments that are designated as cash flow hedges (see Note 21). The 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, 2023, the Term Loan Facilities had a blended fixed effective interest rate of 3.76%, inclusive of the impact of these interest rate swap instruments and amortization of the related debt issuance costs. The Revolving Facility and Term Loan Facilities are subject to 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 applicable 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, 2023. The Company has secured commitments for a $750 million five-year unsecured term loan (the “2024 Term Loan”), to be incurred as an incremental facility under the Term Loan Agreement. In January 2024, the Company entered into forward-starting interest rate swap instruments that are designated as cash flow hedges (see Note 21) that will effectively establish a fixed interest rate for the 2024 Term Loan at a blended contractual rate of 4.5%. 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, short-term unsecured notes with varying maturities. Amounts available under the Commercial Paper Program may be borrowed, repaid, and re-borrowed from time to time. At each of December 31, 2023 and 2022, the maximum aggregate face or principal amount that could be outstanding at any one time was $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 short-term unsecured notes issued under the Commercial Paper Program. At December 31, 2023, the Company had $720 million of notes outstanding under the Commercial Paper Program, with original maturities of approximately 37 days and a weighted average interest rate of 5.70%. At December 31, 2022, the Company had $996 million of notes outstanding under the Commercial Paper Program, with original maturities of approximately two months and a weighted average interest rate of 4.90%. Senior Unsecured Notes At December 31, 2023 and 2022, the Company had senior unsecured notes outstanding with an aggregate principal balance of $5.5 billion and $4.7 billion, respectively. 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, 2023. The following table summarizes the Company’s senior unsecured notes issuances for the years ended December 31, 2023, 2022, and 2021 (dollars in thousands): Issue Date Amount Coupon Rate Maturity Year Year ended December 31, 2023: January 17, 2023 $ 400,000 5.25 % 2032 May 10, 2023 (1) 350,000 5.25 % 2032 Year ended December 31, 2021: November 24, 2021 (2) 500,000 2.13 % 2028 July 12, 2021 (2) 450,000 1.35 % 2027 _______________________________________ (1) In May 2023, the Company issued $350 million of 5.25% senior unsecured notes due 2032, which constituted an additional issuance of, and are treated as a single series with, the $400 million of senior unsecured notes due 2032 issued in January 2023. (2) 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. During the years ended December 31, 2023 and 2022, there were no repurchases or redemptions of senior unsecured notes. The following table summarizes the Company’s senior unsecured notes repurchases and redemptions for the year ended December 31, 2021 (dollars in thousands): Payoff Date (1) Amount Coupon Rate Maturity Year 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 _______________________________________ (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. Mortgage Debt At December 31, 2023 and 2022, the Company had $255 million and $345 million, respectively, in aggregate principal of mortgage debt outstanding. At December 31, 2023, this mortgage debt was secured by 15 outpatient medical buildings and 2 CCRCs, with an aggregate carrying value of $587 million. At December 31, 2022, this mortgage debt was secured by 15 outpatient medical buildings and 3 CCRCs, with an aggregate carrying value of $793 million. Mortgage debt generally requires monthly principal and interest payments, is collateralized by real estate assets, and is non-recourse. Mortgage debt typically requires maintenance of the assets in good condition, includes conditions to obtain lender consent to enter into or terminate material leases, requires insurance on the assets, requires payment of real estate taxes, restricts transfer of the encumbered assets and repayment of the loan, and prohibits additional liens. 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, 2023, 2022, and 2021, the Company made aggregate principal repayments of mortgage debt of $90 million, $5 million, and $9 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $90 million of aggregate principal repayments of mortgage debt for the year ended December 31, 2023 was an $85 million full principal repayment of mortgage debt secured by one CCRC that matured in December 2023. The Company has $142 million of mortgage debt secured by a portfolio of 13 outpatient medical buildings that matures in May 2026 (see Note 3). 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. In February 2023, the agreements associated with this variable rate mortgage debt were amended to change the interest rate benchmarks from LIBOR to SOFR, effective March 2023. Concurrently, the Company modified the related interest rate swap instruments to reflect the change in the interest rate benchmarks from LIBOR to SOFR (see Note 21). 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, 2023 (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 2024 $ — $ — $ — $ — — % $ 7,024 6.90 % $ 7,024 2025 — — — 800,000 3.92 % 3,209 3.82 % 803,209 2026 — 720,000 — 650,000 3.40 % 244,523 4.44 % 1,614,523 2027 — — 500,000 450,000 1.54 % 366 5.91 % 950,366 2028 — — — 500,000 2.35 % — — % 500,000 Thereafter — — — 3,050,000 4.18 % — — % 3,050,000 — 720,000 500,000 5,450,000 255,122 6,925,122 Premiums, (discounts), and debt issuance costs, net — — (3,176) (46,622) 975 (48,823) $ — $ 720,000 $ 496,824 $ 5,403,378 $ 256,097 $ 6,876,299 _______________________________________ (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 3.66% and a weighted average maturity of 6 years. (3) Effective interest rates on the mortgage debt range from 3.44% to 9.26% with a weighted average effective interest rate of 4.50% 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, 2023
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. Subsequent to December 31, 2023, in connection with the Mergers, three lawsuits have been filed by purported stockholders of the Company against the Company, members of the Company’s Board of Directors, and, with respect to one of such lawsuits, Physicians Realty Trust, challenging the disclosures made in the Initial Filing. No loss contingency has been recorded for these matters as of December 31, 2023. The Company believes that the lawsuits and demands are without merit, but cannot predict the outcome of these proceedings or reasonably estimate any potential loss at this time. Additionally, four lawsuits have been filed by purported shareholders of Physicians Realty Trust against Physicians Realty Trust and the members of the Physicians Realty Trust board of trustees challenging the disclosures made in the Initial Filing. The plaintiffs in each action seek, among other things, to enjoin the Mergers and the transactions contemplated by the Merger Agreement and an award of costs and attorneys’ fees. In addition to such lawsuits, Physicians Realty Trust has received correspondence from multiple purported shareholders of Physicians Realty Trust alleging deficiencies regarding the disclosures made in the Initial Filing. Additional demands and lawsuits arising out of the Mergers may be made or filed in the future. 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 Lab JV (see Note 8). 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 potential success-based fees as a result of the Mergers (see Note 1), obligations as the lessee under operating leases (see Note 6), commitments to fund additional loans for senior housing redevelopment and capital expenditure projects (see Note 7), debt service obligations (see Note 10), and potential future obligations related to redeemable noncontrolling interests (see Note 12) at December 31, 2023 (in thousands): Amount Development and redevelopment commitments (1) $ 151,996 Lease and other contractual commitments (2) 27,655 $ 179,651 _______________________________________ (1) Represents construction and other commitments as of December 31, 2023 for developments and redevelopments in progress and includes allowances for Company-owned 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, 2023 and includes allowances for Company-owned tenant improvements and leasing commissions. Excludes allowances for Company-owned 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). 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, 2023
Equity [Abstract]
Equity and Redeemable Noncontrolling Interests	Equity and Redeemable Noncontrolling Interests Dividends On January 31, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.30 per share. The common stock cash dividend will be paid on February 26, 2024 to stockholders of record as of the close of business on February 14, 2024. During each of the years ended December 31, 2023, 2022, and 2021, the Company declared and paid common stock cash dividends of $1.20. At-The-Market Equity Offering Program In February 2023, in connection with the Reorganization, the Company terminated the previous at-the-market equity offering program (as amended from time to time, the “2020 ATM Program”) and established a new at-the-market equity offering program (the “2023 ATM Program” and, together with the 2020 ATM Program, the “ATM Programs”). The ATM Programs allow for the sale of shares of common stock having an aggregate gross sales price of up to $1.5 billion (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 becomes 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, 2023, $1.5 billion of the Company’s common stock remained available for sale under the 2023 ATM Program. ATM Forward Contracts During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 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. The Company did not enter into any forward contracts under the 2020 ATM Program during the year ended December 31, 2022. In December 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. During the year ended December 31, 2023, the Company did not utilize the forward provisions under the ATM Programs. ATM Direct Issuances During each of the years ended December 31, 2023, 2022, and 2021, there were no direct issuances of shares of common stock under the ATM Programs. 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. In August 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. During the year ended December 31, 2023, there were no repurchases under the Share Repurchase Program. Therefore, at December 31, 2023, $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, 2023 2022 2021 Dividend Reinvestment and Stock Purchase Plan $ 70 $ 59 $ 81 Conversion of DownREIT units 72 27 8 Exercise of stock options — — 97 Vesting of restricted stock units 613 820 924 Repurchase of common stock 241 2,418 418 Accumulated Other Comprehensive Income (Loss) The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2023 2022 Unrealized gains (losses) on derivatives, net $ 21,245 $ 30,145 Supplemental Executive Retirement Plan minimum liability (1,874) (2,011) Total accumulated other comprehensive income (loss) $ 19,371 $ 28,134 The Company has a defined benefit pension plan, known as the Supplemental Executive Retirement Plan, with one plan participant, a 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). Noncontrolling Interests 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 (the “Option Requirements”). Each put option is payable in cash and subject to changes 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. In addition to the rights of the redeemable noncontrolling interest holders, once the Option Requirements have been met, the Company has the ability to buy out the interests of the noncontrolling interest holders. As of December 31, 2023, three of the redeemable noncontrolling interests met the conditions for redemption, but were not yet exercised. The one remaining redeemable noncontrolling interest met the redemption conditions in January 2024. The values of the redeemable noncontrolling interests are subject to change based on the assessment of redemption value at each redemption date. Healthpeak OP Immediately following the Reorganization, Healthpeak Properties, Inc. was the initial sole member and 100% owner of Healthpeak OP. Subsequent to the Reorganization, OP Unitholders were issued approximately 2 million OP Units during the year ended December 31, 2023, all of which were LTIP Units (as defined below, see also Note 14). When certain conditions are met, the OP Unitholders have the right to require redemption of part or all of their OP Units for cash or shares of the Company’s common stock, at the Company’s option as managing member of Healthpeak OP. The per unit redemption amount is equal to either one share of the Company’s common stock or cash equal to the fair value of a share of common stock at the time of redemption. The Company classifies the OP Units in permanent equity because it may elect, in its sole discretion, to issue shares of its common stock to OP Unitholders who choose to redeem their OP Units rather than using cash. None of the outstanding OP Units met the criteria for redemption as of December 31, 2023. DownREITs 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, 2023, there were approximately 5 million DownREIT units (7 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, 2023, the carrying and market values of the 5 million DownREIT units were $199 million and $143 million, respectively. At December 31, 2022, the carrying and market values of the 5 million DownREIT units were $200 million and $183 million, respectively.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2023
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, 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. Certain 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 12 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 forward agreements under its ATM Programs 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 following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts): Year Ended December 31, 2023 2022 2021 Numerator Income (loss) from continuing operations $ 334,757 $ 513,540 $ 137,728 Noncontrolling interests’ share in continuing operations (28,748) (15,975) (17,851) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 306,009 497,565 119,877 Less: Participating securities’ share in continuing operations (1,725) (2,657) (3,269) Income (loss) from continuing operations applicable to common shares 304,284 494,908 116,608 Income (loss) from discontinued operations — 2,884 388,202 Noncontrolling interests’ share in discontinued operations — — (2,539) Net income (loss) applicable to common shares - basic and diluted $ 304,284 $ 497,792 $ 502,271 Denominator Basic weighted average shares outstanding 547,006 538,809 538,930 Dilutive potential common shares - equity awards (1) 269 338 310 Dilutive potential common shares - forward equity agreements (2) — — 1 Diluted weighted average common shares 547,275 539,147 539,241 Basic earnings (loss) per common share Continuing operations $ 0.56 $ 0.92 $ 0.22 Discontinued operations — 0.00 0.71 Net income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93 Diluted earnings (loss) per common share Continuing operations $ 0.56 $ 0.92 $ 0.22 Discontinued operations — 0.00 0.71 Net income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93 _______________________________________ (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, 2023, forward equity sales agreements had no dilutive impact as no shares were outstanding under ATM forward contracts during the year. 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, represents the dilutive impact of 9.1 million shares that were not settled during the year then ended.

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2023
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, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2023, 31 million of the reserved shares under the 2023 Plan are available for future awards, of which 21 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. Restricted Stock Units Under the Plans, time-based restricted stock units and market-based restricted stock units (collectively, “Restricted 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 Units is expensed over the period of vesting. Time-based restricted stock units, which vest based solely upon passage of time, generally vest on a graded schedule over a period of three Upon vesting of Restricted Stock Units, the participant is required to pay the related tax withholding obligation, as applicable. 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, 2023, 2022, and 2021, the Company withheld 241,000, 356,000, and 418,000 shares, respectively, to offset tax withholding obligations with respect to the vesting of the Restricted Stock Units. LTIP Units During the year ended December 31, 2023, approximately 2 million LTIP Units were issued to officers of the Company. These awards are designed to qualify as “profits interests” in Healthpeak OP for federal income tax purposes. Such interests are initially not economically equivalent in value to a share of common stock until reaching one-for-one parity with the Company’s common stock, subject to any vesting conditions applicable to the award. When certain conditions are met, LTIP Units are converted to common units, which may then be redeemed for cash or shares of the Company’s common stock, at the Company’s option as managing member of Healthpeak OP (see also Note 12). Under the Plans, time-based LTIP Units and market-based LTIP Units (collectively, “LTIP Units”), are granted subject to certain restrictions. Time-based LTIP Units, which vest solely upon passage of time, generally vest over a period of three Dividends and Distributions Holders of time-based restricted stock units and time-based LTIP Units are generally entitled to receive dividends and distributions, respectively, equal to the amount that would be paid on an equivalent number of shares of common stock. Market-based restricted stock units receive cumulative cash dividends upon vesting for the entirety of the performance period based on the level of achievement of the performance criteria. The market-based LTIP Units receive cash distributions equal to 10% of the quarterly dividends paid on the Company’s common stock during the performance period. Based on the level of achievement of the performance criteria at the end of the performance period, the market-based LTIP Units receive distributions in the form of additional LTIP Units for amounts ultimately vested during the performance period, less cash distributions already paid. Stock Options There have been no grants of stock options since 2014. Stock options outstanding and exercisable were 0.2 million at December 31, 2023 and 0.3 million at December 31, 2022. There were no stock options exercised under the Plans for the years ended December 31, 2023 and 2022. For the year ended December 31, 2021, proceeds received from stock options exercised under the Plans was $3 million. No compensation cost related to stock options was incurred during the years ended December 31, 2023, 2022, and 2021. The following table summarizes Restricted Stock Unit and LTIP Unit activity for the year ended December 31, 2023 (units in thousands): Restricted Stock Units LTIP Units Number of Units Weighted Number of Units Weighted Unvested at January 1, 2023 1,709 $ 33.66 — $ — Granted 393 28.12 1,970 14.66 Vested (613) 37.97 (76) 24.56 Forfeited (610) 31.16 — — Unvested at December 31, 2023 879 $ 29.91 1,894 $ 14.26 Total stock-based compensation cost was $19 million, $32 million, and $23 million for the years ended December 31, 2023, 2022, and 2021, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $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. Of the total stock-based compensation cost, $4 million, $4 million, and $3 million was capitalized as part of real estate for the years ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, there was $20 million of future expenses related to unvested stock-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. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. 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 continue to vest in accordance with the original terms of the grants. As of December 31, 2023, and 2022, $8 million and $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.

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company’s reportable segments, based on how its CODM evaluates the business and allocates resources, are as follows: (i) lab, (ii) outpatient medical, 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. These marketable debt securities matured on December 31, 2022, and the Company received the related proceeds in January 2023. Non-reportable segments have been presented on an aggregate basis within the Notes to the Consolidated Financial Statements herein. The accounting policies of the segments are the same as those described in the Company’s Summary of Significant Accounting Policies (see Note 2). During the second quarter of 2023, the Company changed the name of its “life science” and “medical office” segments to “lab” and “outpatient medical,” respectively. The segment name changes did not result in any changes to the composition of the Company’s segments or information reviewed by its CODM, and therefore, had no impact on the Company’s historical results of segment operations. 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, loans receivable, marketable debt securities, other assets, real estate assets held for sale, 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, 2023: Lab Outpatient Medical CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 878,326 $ 753,479 $ 527,417 $ 21,781 $ — $ 2,181,003 Government grant income (1) — — 184 — — 184 Less: Interest income — — — (21,781) — (21,781) Healthpeak’s share of unconsolidated joint venture total revenues 9,924 3,033 — 82,426 — 95,383 Healthpeak’s share of unconsolidated joint venture government grant income — — — 229 — 229 Noncontrolling interests’ share of consolidated joint venture total revenues (619) (35,073) — — — (35,692) Operating expenses (229,630) (263,132) (413,472) — 4,174 (902,060) Healthpeak’s share of unconsolidated joint venture operating expenses (4,092) (1,189) — (60,811) — (66,092) Noncontrolling interests’ share of consolidated joint venture operating expenses 156 9,921 — — — 10,077 Adjustments to NOI (2) (36,524) (14,314) (1,618) 366 (4,174) (56,264) Adjusted NOI 617,541 452,725 112,511 22,210 — 1,204,987 Plus: Adjustments to NOI (2) 36,524 14,314 1,618 (366) 4,174 56,264 Interest income — — — 21,781 — 21,781 Interest expense — (7,770) (7,010) — (185,551) (200,331) Depreciation and amortization (328,349) (289,683) (131,869) — — (749,901) General and administrative — — — — (95,132) (95,132) Transaction and merger-related costs (333) (1,120) (1,881) — (14,181) (17,515) Impairments and loan loss reserves, net — — — 5,601 — 5,601 Gain (loss) on sales of real estate, net 60,498 21,312 — 4,653 — 86,463 Other income (expense), net 7 2,697 228 (81) 3,957 6,808 Less: Government grant income — — (184) — — (184) Less: Healthpeak’s share of unconsolidated joint venture NOI (5,832) (1,844) — (21,844) — (29,520) Plus: Noncontrolling interests’ share of consolidated joint venture NOI 463 25,152 — — — 25,615 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 380,519 215,783 (26,587) 31,954 (286,733) 314,936 Income tax benefit (expense) — — — — 9,617 9,617 Equity income (loss) from unconsolidated joint ventures 4,540 835 — 4,829 — 10,204 Income (loss) from continuing operations 385,059 216,618 (26,587) 36,783 (277,116) 334,757 Income (loss) from discontinued operations — — — — — — Net income (loss) $ 385,059 $ 216,618 $ (26,587) $ 36,783 $ (277,116) $ 334,757 _______________________________________ (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, 2022: Lab Outpatient Medical 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 and merger-related 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: Lab Outpatient Medical 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 and merger-related 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. The following table summarizes the Company’s total assets by segment (in thousands): December 31, Segment 2023 2022 Lab $ 9,313,395 $ 9,019,271 Outpatient medical 6,376,191 6,291,986 CCRC 2,369,883 2,276,898 Reportable segment assets 18,059,469 17,588,155 Accumulated depreciation and amortization (4,017,023) (3,540,362) Net reportable segment assets 14,042,446 14,047,793 Other non-reportable segment assets 553,031 744,550 Assets held for sale, net 117,986 49,866 Other non-segment assets 985,387 929,020 Total assets $ 15,698,850 $ 15,771,229 See Notes 3, 4, 5, 6, 7, 8, and 18 for significant transactions impacting the Company’s segment assets during the periods presented. At each of December 31, 2023 and 2022, goodwill of $18 million was allocated to the Company’s segment assets as follows: (i) $14 million for outpatient medical, (ii) $2 million for CCRC, and (iii) $2 million for other non-reportable.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
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 16. 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, 2023 2022 2021 Ordinary dividends (1) $ 0.909692 $ 0.872948 $ 0.152336 Capital gains (2)(3) 0.116992 0.183208 0.379960 Nondividend distributions 0.173316 0.143844 0.667704 $ 1.200000 $ 1.200000 $ 1.200000 _______________________________________ (1) For the year ended December 31, 2023, the amount includes $0.882312 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.027380 of qualified dividend income for purposes of Code Section 1(h)(11). 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). (2) For the years ended December 31, 2023, 2022, and 2021, the amount includes $0.036256, $0.017760, and $0.379960, respectively, of unrecaptured Code 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, 2023, the “One Year Amounts” and “Three Year Amounts” are each zero, since all capital gains relate to Code Section 1231 gains. For the year ended December 31, 2022, the “One Year Amounts” and “Three Year Amounts” are each 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 year ended December 31, 2021, 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, 2023, 2022, and 2021, 100%, 10.3292%, 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, 2023, 2022, and 2021 was $325 million, $509 million, and $134 million, respectively, of which $318 million, $527 million, and $150 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 $7 million, $(18) million, and $(16) million for the years ended December 31, 2023, 2022, and 2021, respectively. The total income tax benefit (expense) from continuing operations consists of the following components (in thousands): Year Ended December 31, 2023 2022 2021 Current Federal $ (1,663) $ (632) $ (126) State (3,325) (689) (1,003) Total current $ (4,988) $ (1,321) $ (1,129) Deferred Federal $ 11,682 $ 3,157 $ 3,469 State 2,923 2,589 921 Total deferred $ 14,605 $ 5,746 $ 4,390 Total income tax benefit (expense) from continuing operations $ 9,617 $ 4,425 $ 3,261 The Company’s income tax benefit from discontinued operations was zero, $0.3 million, and $1 million for the years ended December 31, 2023, 2022, and 2021, respectively (see Note 4). 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, 2023 2022 2021 Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax $ (1,404) $ 3,698 $ 3,345 State income tax benefit (expense), net of federal tax (1,035) 911 706 Gross receipts and margin taxes (1,647) (956) (989) Return to provision adjustments (90) 1,260 (4) Change in valuation allowance for deferred tax assets 13,797 194 203 Change in tax status of TRS (4) (682) — Total income tax benefit (expense) from continuing operations $ 9,617 $ 4,425 $ 3,261 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, 2023 2022 2021 Deferred tax assets: Deferred revenue $ 103,530 $ 102,504 $ 104,397 Net operating loss carryforward 54,136 62,280 71,744 Expense accruals 12,324 12,399 14,229 Real estate 850 150 129 Other 58 689 — Total deferred tax assets 170,898 178,022 190,499 Valuation allowance (13,004) (26,098) (35,772) Deferred tax assets, net of valuation allowance $ 157,894 $ 151,924 $ 154,727 Deferred tax liabilities: Real estate $ 43,488 $ 52,266 $ 61,097 Other 818 674 648 Deferred tax liabilities $ 44,306 $ 52,940 $ 61,745 Net deferred tax assets $ 113,588 $ 98,984 $ 92,982 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. As of December 31, 2021 and 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses of its TRS entities. During the year ended December 31, 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily net operating loss carryforwards) would be realized. This conclusion was based on recent revisions to estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 4 and 8). Accordingly, the Company reversed its deferred tax asset valuation allowance and recognized an income tax benefit of $14 million during the year ended December 31, 2023. As of December 31, 2023, 2022, and 2021, the Company had a deferred tax asset valuation allowance of $13 million, $26 million, and $36 million, respectively. At December 31, 2023, the Company had a net operating loss (“NOL”) carryforward of $216 million related to the TRS entities. If unused, $15 million will begin to expire in 2035. The remainder, totaling $201 million, may be carried forward indefinitely. The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2023 2022 2021 Total unrecognized tax benefits at January 1 $ — $ 469 $ 469 Gross amount of decreases for prior years’ tax positions — (469) — Total unrecognized tax benefits at December 31 $ — $ — $ 469 For the years ended December 31, 2023 and 2022, the Company had no unrecognized tax benefits. For the year ended December 31, 2021, 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 2020.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Supplemental cash flow information: Interest paid, net of capitalized interest $ 188,213 $ 162,115 $ 173,044 Income taxes paid (refunded) 1,923 (1,903) 4,521 Capitalized interest 56,849 41,046 24,084 Cash paid for amounts included in the measurement of lease liability for operating leases 21,488 12,594 10,620 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 3,951 9,454 28,866 Decrease in ROU asset with corresponding change in lease liability related to operating leases — — 8,410 Accrued construction costs 105,572 178,626 179,995 Net noncash impact from the consolidation of property previously held in an unconsolidated joint venture 993 — — Retained investment in connection with South San Francisco JVs transaction — 293,265 — Seller financing provided on disposition of real estate asset — — 559,745 Carrying value of mortgages assumed by buyer in real estate dispositions — — 143,676 See Note 8 for discussion of the South San Francisco JVs transaction. Operating, investing, and financing cash flows in the Consolidated Statements of Cash Flows are reported inclusive of both cash flows from continuing operations and cash flows from discontinued operations. The following table summarizes certain cash flow information related to discontinued operations (in thousands): Year Ended December 31, 2023 2022 2021 Leasing costs, tenant improvements, and recurring capital expenditures $ — $ 21 $ 2,636 Development, redevelopment, and other major improvements of real estate — 18 5,780 Depreciation and amortization of real estate, in-place lease, and other intangibles — — — The following table summarizes cash, cash equivalents, and restricted cash (in thousands): Year Ended December 31, 2023 2022 2021 2023 2022 2021 2023 2022 2021 Continuing operations Discontinued operations Total Beginning 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 End of year: Cash and cash equivalents $ 117,635 $ 72,032 $ 158,287 $ — $ — $ 7,707 $ 117,635 $ 72,032 $ 165,994 Restricted cash 51,388 54,802 53,454 — — — 51,388 54,802 53,454 Cash, cash equivalents, and restricted cash $ 169,023 $ 126,834 $ 211,741 $ — $ — $ 7,707 $ 169,023 $ 126,834 $ 219,448

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2023
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Operating Subsidiary Subsequent to the Reorganization, Healthpeak OP is the Company’s operating subsidiary and a limited liability company that has governing provisions that are the functional equivalent of a limited partnership. The Company holds a membership interest in Healthpeak OP, acts as the managing member of Healthpeak OP, and exercises full responsibility, discretion, and control over the day-to-day management of Healthpeak OP. Because the noncontrolling interests in Healthpeak OP do not have substantive liquidation rights, substantive kick-out rights without cause, or substantive participating rights, the Company has determined that Healthpeak OP is a VIE. The Company, as managing member, has the power to direct the core activities of Healthpeak OP that most significantly affect Healthpeak OP’s performance, and through its interest in Healthpeak OP, has both the right to receive benefits from and the obligation to absorb losses of Healthpeak OP. Accordingly, the Company is the primary beneficiary of Healthpeak OP and consolidates Healthpeak OP. As the Company conducts its business and holds its assets and liabilities through Healthpeak OP, the total consolidated assets and liabilities, income (losses), and cash flows of Healthpeak OP represent substantially all of the total consolidated assets and liabilities, income (losses), and cash flows of the Company. Unconsolidated Variable Interest Entities At December 31, 2023, the Company had investments in two unconsolidated VIE joint ventures. At December 31, 2022, 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. LLC Investment. The Company holds a limited partner ownership interest in an unconsolidated LLC (“LLC Investment”) 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 as well as 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 lab 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). See Note 8 for additional descriptions of the nature, purpose, and operating activities of this unconsolidated VIE and interests therein. 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 had been identified as a VIE because it was “thinly capitalized.” The CMBS issued by the VIE were backed by mortgage debt obligations on real estate assets. These securities were classified as held-to-maturity because the Company had 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. 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, 2023 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) LLC Investment Other assets, net $ 14,985 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 17,084 _______________________________________ (1) The Company’s maximum loss exposure represents the aggregate carrying amount of such investments. As of December 31, 2023, 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). Consolidated Variable Interest Entities The Company’s consolidated total assets and total liabilities at December 31, 2023 and 2022 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 outpatient medical buildings (“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. Lab JVs . The Company holds a 98% or greater ownership interest in multiple joint venture entities that own and lease lab buildings (the “Lab JVs”). The Lab 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 Lab 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 Lab 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 Lab JVs may only be used to settle their contractual obligations. Refer to Note 12 for a discussion of certain put options associated with the Lab JVs. MSREI JV . The Company holds a 51% ownership interest in, and is the managing member of, a joint venture entity formed in August 2018 that owns and leases outpatient medical buildings (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 tenant 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 tenant rents) may only be used to settle their contractual obligations (primarily from debt service and capital expenditures). Total assets and total liabilities include VIE assets and liabilities, excluding those of Healthpeak OP, as follows (in thousands): December 31, 2023 2022 Assets Buildings and improvements $ 2,392,375 $ 2,356,905 Development costs and construction in progress 47,481 58,499 Land and improvements 307,166 324,714 Accumulated depreciation and amortization (665,791) (623,244) Net real estate 2,081,231 2,116,874 Accounts receivable, net 5,906 6,893 Cash and cash equivalents 18,410 20,586 Restricted cash 613 354 Intangible assets, net 56,975 73,860 Assets held for sale, net — 30,355 Right-of-use asset, net 97,575 99,376 Other assets, net 79,248 73,690 Total assets $ 2,339,958 $ 2,421,988 Liabilities Mortgage debt $ 144,874 $ 144,604 Intangible liabilities, net 11,884 15,066 Liabilities related to assets held for sale, net — 401 Lease liability 99,725 99,039 Accounts payable, accrued liabilities, and other liabilities 54,975 68,979 Deferred revenue 48,316 39,661 Total liabilities $ 359,774 $ 367,750 Total assets and total liabilities related to assets held for sale include VIE assets and liabilities, excluding those of Healthpeak OP, as follows (in thousands): December 31, 2023 2022 Assets Buildings and improvements $ — $ 39,934 Land and improvements — 1,926 Accumulated depreciation and amortization — (15,612) Net real estate — 26,248 Intangible assets, net — 215 Other assets, net — 3,892 Total assets $ — $ 30,355 Liabilities Deferred revenue — 401 Total liabilities $ — $ 401

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2023
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 discontinued operations: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2023 2022 2023 2022 2021 California 38 37 31 31 28 Florida 10 10 18 18 17 Texas 10 10 11 11 11 Massachusetts 17 17 11 10 9 The Company’s rental revenue is generated from multiple tenants across its diverse portfolio. As of December 31, 2023, the Company’s largest tenant in its outpatient medical and lab segments accounted for 8% and 2%, respectively, of the Company’s total revenues.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The table below summarizes the carrying amounts and fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis (in thousands): December 31, 2023 (3) 2022 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 218,450 $ 218,450 $ 374,832 $ 369,425 Marketable debt securities (2) — — 21,702 21,702 Interest rate swap instruments (2) 21,359 21,359 30,259 30,259 Bank line of credit and commercial paper (2) 720,000 720,000 995,606 995,606 Term loans (2) 496,824 496,824 495,957 495,957 Senior unsecured notes (1) 5,403,378 5,144,667 4,659,451 4,238,124 Mortgage debt (2) 256,097 244,135 346,599 330,867 _______________________________________ (1) Level 1: Fair value is calculated based on quoted prices in active markets. (2) Level 2: Fair value is based on (i) for loans receivable, net, interest rate swap instruments, and mortgage debt, standardized pricing models in which significant inputs or value drivers are observable in active markets, respectively, or (ii) for marketable debt securities, quoted prices for similar or identical instruments in active or inactive 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, 2023 and 2022, 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, 2023
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, 2023, 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 up to $18 million. In April 2021, the Company executed two interest rate cap instruments on $142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 10). 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. 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 February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 10). The Company applied certain practical expedients provided by the reference rate reform ASUs in connection with the modifications to these cash flow hedges (see Note 2). In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $500 million aggregate principal amount of the Term Loan Facilities (see Note 10). The 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 (2) Date Entered Maturity Date Hedge Designation Notional Amount Pay Rate (1) Receive Rate (1) December 31, December 31, April 2022 (3) May 2026 Cash flow $ 51,100 4.99 % USD-SOFR w/ -5 Day Lookback + 2.50% $ 1,602 $ 2,300 April 2022 (3) May 2026 Cash flow 91,000 4.54 % USD-SOFR w/ -5 Day Lookback + 2.05% 2,851 4,096 August 2022 (3) February 2027 Cash flow 250,000 2.60 % 1 mo. USD-SOFR CME Term 7,933 11,299 August 2022 (3) August 2027 Cash flow 250,000 2.54 % 1 mo. USD-SOFR CME Term 8,973 12,564 _____________________________ (1) Pay rates and receive rates are as of December 31, 2023. As of December 31, 2022, the interest rate swap instrument with a $51 million notional amount had a pay rate of 5.08% and a receive rate of 1 mo. USD-LIBOR-BBA + 2.50%. As of December 31, 2022, the interest rate swap instrument with a $91 million notional amount had a pay rate of 4.63% and a receive rate of 1 mo. USD-LIBOR-BBA + 2.05%. (2) At each of December 31, 2023 and 2022, the interest rate swap instruments were in an asset position. Derivative assets are recorded at fair value in other assets, net on the Consolidated Balance Sheets. (3) 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. In January 2024, the Company entered into forward-starting interest rate swap instruments that will effectively establish a fixed interest rate on the $750 million aggregate principal amount of the 2024 Term Loan at a blended contractual rate of 4.5% (see Note 10). The interest rate swap instruments are designated as cash flow hedges.

Accounts Payable, Accrued Liabi

Accounts Payable, Accrued Liabilities, and Other Liabilities	12 Months Ended
	Dec. 31, 2023
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 (in thousands): December 31, 2023 2022 Refundable entrance fees $ 251,874 $ 268,972 Accrued construction costs 105,572 178,626 Accrued interest 59,492 59,291 Other accounts payable and accrued liabilities 240,258 265,596 Accounts payable, accrued liabilities, and other liabilities $ 657,196 $ 772,485

Deferred Revenue

Deferred Revenue	12 Months Ended
	Dec. 31, 2023
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 (in thousands): December 31, 2023 2022 Nonrefundable entrance fees (1) $ 562,026 $ 518,573 Other deferred revenue (2) 343,607 325,503 Deferred revenue $ 905,633 $ 844,076 _______________________________________ (1) During the years ended December 31, 2023 and 2022, the Company collected nonrefundable entrance fees of $127 million and $101 million, respectively. During the years ended December 31, 2023, 2022, and 2021, the Company recognized amortization of $83 million, $79 million, and $76 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, 2023, 2022, and 2021, the Company recognized amortization related to other deferred revenue of $68 million, $44 million, and $39 million, respectively, which is included in rental and related revenues on the Consolidated Statements of Operations.

Schedule II_ Valuation and Qual

Schedule II: Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
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: 2023 $ 2,399 $ — $ — $ (117) $ 2,282 2022 1,870 529 — — 2,399 2021 3,994 — — (2,124) 1,870 Discontinued operations: 2023 $ — $ — $ — $ — $ — 2022 4,138 — — (4,138) — 2021 5,873 46 — (1,781) 4,138 _______________________________________ (1) Includes allowance for doubtful accounts. Excludes reserves for loan losses which are disclosed in Note 7 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, 2023
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, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) Lab 1483 Brisbane CA $ — $ 8,498 $ 500 $ 82,955 $ 8,498 $ 83,455 $ 91,953 $ (6,065) 2022 2007 1484 Brisbane CA — 11,331 689 159,209 11,331 159,898 171,229 (10,321) 2022 2007 1485 Brisbane CA — 11,331 600 151,954 11,331 152,554 163,885 (11,224) 2022 2007 1486 Brisbane CA — 11,331 — 135,416 11,331 135,416 146,747 (22,767) 2020 2007 1487 Brisbane CA — 8,498 — 76,398 8,498 76,398 84,896 (7,089) 2020 2007 2874 Brisbane CA — 26,895 62,318 75,811 26,295 138,729 165,024 (13,636) 1989 2019 2875 Brisbane CA — 24,092 56,623 7,302 24,092 63,925 88,017 (10,162) 2000 2019 3139 Brisbane CA — 35,805 — 5,505 35,805 5,505 41,310 — — 2019 3140 Brisbane CA — 35,805 — 2,668 35,805 2,668 38,473 — — 2019 3142 Brisbane CA — — — 3,724 — 3,724 3,724 — — 2007 1401 Hayward CA — 900 7,100 12,450 1,338 19,112 20,450 (5,630) 1996 2007 1402 Hayward CA — 1,500 6,400 6,837 1,500 13,237 14,737 (2,971) 1999 2007 1403 Hayward CA — 1,900 7,100 7,873 1,900 14,973 16,873 (5,801) 1998 2007 1404 Hayward CA — 2,200 17,200 8,948 2,200 26,148 28,348 (10,059) 1999 2007 1405 Hayward CA — 1,000 3,200 646 1,000 3,846 4,846 (1,625) 1999 2007 1549 Hayward CA — 1,006 4,259 4,208 1,006 8,467 9,473 (4,388) 1996 2007 1550 Hayward CA — 677 2,761 876 677 3,637 4,314 (2,027) 1996 2007 1551 Hayward CA — 661 1,995 2,899 661 4,894 5,555 (1,675) 1996 2007 1552 Hayward CA — 1,187 7,139 1,435 1,187 8,574 9,761 (5,601) 1996 2007 1553 Hayward CA — 1,189 9,465 6,555 1,189 16,020 17,209 (12,099) 1996 2007 1554 Hayward CA — 1,246 5,179 11,951 1,246 17,130 18,376 (6,357) 1996 2007 1555 Hayward CA — 1,521 13,546 7,482 1,521 21,028 22,549 (14,370) 1996 2007 1556 Hayward CA — 1,212 5,120 1,127 1,212 6,247 7,459 (3,853) 1996 2007 1424 La Jolla CA — 11,175 25,283 44,107 11,389 69,176 80,565 (16,131) 1982 2007 1425 La Jolla CA — 7,217 19,883 61 7,217 19,944 27,161 (8,193) 1981 2007 1426 La Jolla CA — 8,381 12,412 11,260 8,381 23,672 32,053 (15,449) 1984 2007 1427 La Jolla CA — 10,127 16,983 7,965 10,148 24,927 35,075 (11,048) 1982 2007 1949 La Jolla CA — 2,686 11,045 17,501 2,686 28,546 31,232 (8,278) 2021 2011 2229 La Jolla CA — 8,753 32,528 16,498 8,777 49,002 57,779 (13,320) 1986/2009 2014 1470 Poway CA — 5,826 12,200 341 5,826 12,541 18,367 (5,094) 2005 2007 1471 Poway CA — 5,978 14,200 — 5,978 14,200 20,178 (5,828) 2005 2007 1472 Poway CA — 8,654 — 11,895 8,654 11,895 20,549 (3,723) 2014 2007 1473 Poway CA — 11,024 2,405 25,455 11,024 27,860 38,884 (11,513) 2019 2007 1474 Poway CA — 5,051 — 19,939 5,051 19,939 24,990 (7,191) 2019 2007 1475 Poway CA — 5,655 — 10,299 5,655 10,299 15,954 (837) 2020 2007 1478 Poway CA — 6,700 14,400 — 6,700 14,400 21,100 (5,910) 2002 2007 1499 Redwood City CA — 3,400 5,500 1,501 3,455 6,946 10,401 (3,391) 1989 2007 1500 Redwood City CA — 2,500 4,100 988 2,500 5,088 7,588 (2,478) 1989 2007 1501 Redwood City CA — 3,600 4,600 1,892 3,600 6,492 10,092 (3,293) 1989 2007 1502 Redwood City CA — 3,100 5,100 1,647 3,100 6,747 9,847 (3,253) 1989 2007 1503 Redwood City CA — 4,800 17,300 8,276 4,800 25,576 30,376 (9,310) 1989 2007 1504 Redwood City CA — 5,400 15,500 10,956 5,400 26,456 31,856 (11,249) 1989 2007 1505 Redwood City CA — 3,000 3,500 5,316 3,000 8,816 11,816 (3,374) 1988 2007 1506 Redwood City CA — 6,000 14,300 14,300 6,000 28,600 34,600 (15,991) 1988 2007 1507 Redwood City CA — 1,900 12,800 10,680 1,900 23,480 25,380 (7,910) 1988/2011 2007 1508 Redwood City CA — 2,700 11,300 17,193 2,700 28,493 31,193 (9,485) 1988/2011 2007 1509 Redwood City CA — 2,700 10,900 1,565 2,700 12,465 15,165 (5,042) 1988 2007 1510 Redwood City CA — 2,200 12,000 6,243 2,200 18,243 20,443 (7,367) 1988 2007 1511 Redwood City CA — 2,600 9,300 19,676 2,600 28,976 31,576 (15,352) 1988 2007 1512 Redwood City CA — 3,300 18,000 19,072 3,300 37,072 40,372 (18,557) 2000 2007 1513 Redwood City CA — 3,300 17,900 12,092 3,326 29,966 33,292 (16,766) 2000 2007 678 San Diego CA — 2,603 11,051 3,514 2,766 14,402 17,168 (6,897) 1997 2004 679 San Diego CA — 5,269 23,566 23,961 5,669 47,127 52,796 (18,457) 1997 2004 837 San Diego CA — 4,630 2,028 3,302 4,630 5,330 9,960 (2,426) 1988/2012 2006 838 San Diego CA — 2,040 903 3,354 2,040 4,257 6,297 (1,325) 1988/2012 2006 839 San Diego CA — 3,940 3,184 2,863 4,036 5,951 9,987 (2,499) 1987 2006 840 San Diego CA — 5,690 4,579 1,289 5,830 5,728 11,558 (2,587) 1987 2006 1418 San Diego CA — 11,700 31,243 59,282 11,700 90,525 102,225 (16,917) 2022 2007 1419 San Diego CA — 2,324 — 33,144 2,324 33,144 35,468 (2,735) 2022 2007 1420 San Diego CA — 4,200 — 41,121 4,200 41,121 45,321 (2,293) 2022 2007 1421 San Diego CA — 7,000 33,779 — 7,000 33,779 40,779 (13,863) 2000 2007 1422 San Diego CA — 7,179 3,687 1,171 7,179 4,858 12,037 (3,687) 1984 2007 1423 San Diego CA — 8,400 33,144 33,504 8,400 66,648 75,048 (21,043) 2002/2020 2007 1558 San Diego CA — 7,740 — 61,285 7,740 61,285 69,025 — — 2007 1947 San Diego CA — 2,581 10,534 4,485 2,581 15,019 17,600 (7,859) 2000 2011 1948 San Diego CA — 5,879 25,305 7,951 5,879 33,256 39,135 (13,014) 2001 2011 2197 San Diego CA — 7,621 3,913 7,541 7,621 11,454 19,075 (6,884) 1984 2007 2476 San Diego CA — 7,661 9,918 13,883 7,661 23,801 31,462 (3,731) 2000/2002 2016 2477 San Diego CA — 9,207 14,613 5,993 9,207 20,606 29,813 (6,371) 2000/2001 2016 2478 San Diego CA — 6,000 — 112,511 6,000 112,511 118,511 — — 2016 2617 San Diego CA — 2,734 5,195 9,364 2,734 14,559 17,293 (3,269) 1991/2020 2017 2618 San Diego CA — 4,100 12,395 22,843 4,100 35,238 39,338 (11,689) 1991/2020 2017 2622 San Diego CA — — — 17,231 — 17,231 17,231 (1,658) 2020 2004 2872 San Diego CA — 10,120 38,351 1,044 10,120 39,395 49,515 (7,919) 1995 2018 2873 San Diego CA — 6,052 14,122 1,846 6,052 15,968 22,020 (3,117) 1997 2018 Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) 3069 San Diego CA — 7,054 7,794 19,748 6,954 27,642 34,596 (3,467) 2007/2021 2019 3104 San Diego CA — — — 40,755 — 40,755 40,755 — — 2007 3110 San Diego CA — 19,120 — 7,212 20,587 5,745 26,332 — — 2021 3111 San Diego CA — 24,729 — 1,261 24,830 1,160 25,990 — — 2022 3153 San Diego CA — 1,215 — 30 1,216 29 1,245 — — 2023 1410 South San Francisco CA — 4,900 18,100 12,159 4,900 30,259 35,159 (14,389) 2000/2019 2007 1411 South San Francisco CA — 8,000 27,700 33,159 8,000 60,859 68,859 (18,496) 2003/2019 2007 1412 South San Francisco CA — 10,100 22,521 10,207 10,100 32,728 42,828 (12,170) 1999 2007 1413 South San Francisco CA — 8,000 28,299 8,489 8,000 36,788 44,788 (17,427) 2000 2007 1430 South San Francisco CA — 10,700 23,621 27,632 10,700 51,253 61,953 (14,113) 1998/2019 2007 1431 South San Francisco CA — 7,000 15,500 9,493 7,000 24,993 31,993 (10,242) 2001 2007 1435 South San Francisco CA — 13,800 42,500 26,975 13,800 69,475 83,275 (25,159) 2008/2010 2007 1436 South San Francisco CA — 14,500 45,300 25,437 14,500 70,737 85,237 (24,676) 2008/2010 2007 1437 South San Francisco CA — 9,400 24,800 36,758 9,400 61,558 70,958 (21,946) 2008/2010 2007 1439 South San Francisco CA — 11,900 68,848 929 11,900 69,777 81,677 (28,268) 2003 2007 1440 South San Francisco CA — 10,000 57,954 471 10,000 58,425 68,425 (23,883) 2003 2007 1441 South San Francisco CA — 9,300 43,549 3,004 9,300 46,553 55,853 (16,875) 2003 2007 1442 South San Francisco CA — 11,000 47,289 42,670 11,000 89,959 100,959 (21,784) 2023 2007 1443 South San Francisco CA — 13,200 60,932 3,259 13,200 64,191 77,391 (24,832) 2007 2007 1444 South San Francisco CA — 10,500 33,776 9,449 10,500 43,225 53,725 (13,088) 2003 2007 1445 South San Francisco CA — 10,600 34,083 11 10,600 34,094 44,694 (13,995) 2003 2007 1458 South San Francisco CA — 10,900 20,900 6,560 10,900 27,460 38,360 (9,607) 2005 2007 1459 South San Francisco CA — 9,800 400 157,931 9,800 158,331 168,131 (4,460) 2023 2007 1462 South San Francisco CA — 7,117 600 4,112 7,117 4,712 11,829 (1,785) 1984/2012 2007 1463 South San Francisco CA — 10,381 2,300 19,648 10,381 21,948 32,329 (8,511) 1979/2012 2007 1464 South San Francisco CA — 7,403 700 8,819 7,403 9,519 16,922 (2,723) 1965/2012 2007 1468 South San Francisco CA — 10,100 24,013 12,188 10,100 36,201 46,301 (15,058) 2006 2007 1480 South San Francisco CA — 32,210 3,110 161,341 32,210 164,451 196,661 (472) 2023 2007 1528 South San Francisco CA — — — 165,770 — 165,770 165,770 — — 2007 1559 South San Francisco CA — 5,666 5,773 161 5,666 5,934 11,600 (5,919) 1968 2007 1560 South San Francisco CA — 1,204 1,293 2,683 1,204 3,976 5,180 (2,917) 1966 2007 1983 South San Francisco CA — 8,648 — 97,280 8,648 97,280 105,928 (34,710) 2016 2011 1984 South San Francisco CA — 7,845 — 90,818 7,844 90,819 98,663 (29,712) 2017 2011 1985 South San Francisco CA — 6,708 — 122,646 6,708 122,646 129,354 (37,274) 2017 2011 1986 South San Francisco CA — 6,708 — 120,613 6,708 120,613 127,321 (31,623) 2018 2011 1987 South San Francisco CA — 8,544 — 100,777 8,544 100,777 109,321 (23,837) 2019 2011 1988 South San Francisco CA — 10,120 — 118,498 10,120 118,498 128,618 (29,452) 2019 2011 1989 South San Francisco CA — 9,169 — 100,338 9,169 100,338 109,507 (18,597) 2020 2011 2553 South San Francisco CA — 2,897 8,691 4,478 2,897 13,169 16,066 (4,340) 1988 2015 2554 South San Francisco CA — 995 2,754 2,332 995 5,086 6,081 (1,393) 1988 2015 2555 South San Francisco CA — 2,202 10,776 2,497 2,202 13,273 15,475 (3,326) 1988 2015 2556 South San Francisco CA — 2,962 15,108 1,557 2,962 16,665 19,627 (4,087) 1988 2015 2557 South San Francisco CA — 2,453 13,063 3,616 2,453 16,679 19,132 (5,840) 1988 2015 2558 South San Francisco CA — 1,163 5,925 315 1,163 6,240 7,403 (1,438) 1988 2015 2624 South San Francisco CA — 25,502 42,910 14,017 25,502 56,927 82,429 (13,911) 2001 2017 2870 South San Francisco CA — 23,297 41,797 28,777 23,297 70,574 93,871 (17,071) 1996/2019 2018 2871 South San Francisco CA — 20,293 41,262 22,089 20,293 63,351 83,644 (19,258) 1999/2019 2018 3100 South San Francisco CA — 24,059 — 3,733 24,059 3,733 27,792 — — 2021 3101 South San Francisco CA — 61,208 — 22,276 61,208 22,276 83,484 — — 2021 3102 South San Francisco CA — 43,885 — 3,806 43,885 3,806 47,691 — — 2021 3123 South San Francisco CA — — — 6,455 — 6,455 6,455 — — 2007 2705 Cambridge MA — 24,371 128,498 83 24,371 128,581 152,952 (13,274) 2011 2020 2706 Cambridge MA — 15,473 149,051 797 15,473 149,848 165,321 (16,851) 2019 2020 2707 Cambridge MA — 25,549 229,547 8,597 25,549 238,144 263,693 (24,757) 2019 2020 2708 Cambridge MA — — 17,751 513 — 18,264 18,264 (1,419) 2010 2020 2709 Cambridge MA — — 15,451 29 — 15,480 15,480 (1,192) 2019 2020 2928 Cambridge MA — 44,215 24,120 3,076 44,215 27,196 71,411 (3,966) 1984 2019 2929 Cambridge MA — 20,517 — 158,992 20,517 158,992 179,509 (8,248) 2022 2019 3074 Cambridge MA — 78,762 252,153 11,380 78,762 263,533 342,295 (32,549) 2018 2019 3106 Cambridge MA — 20,644 2,982 570 20,644 3,552 24,196 (238) 1950 2021 3107 Cambridge MA — 19,009 12,327 — 19,009 12,327 31,336 (841) 1973 2021 3108 Cambridge MA — 123,074 7,513 — 123,074 7,513 130,587 (678) 1965 2021 3109 Cambridge MA — 5,903 — 362 5,903 362 6,265 — — 2021 3112 Cambridge MA — 23,402 47,623 69 23,402 47,692 71,094 (3,950) 1985 2021 3113 Cambridge MA — 32,244 — 6,730 36,119 2,855 38,974 — — 2021 3114 Cambridge MA — 22,969 — (2,306) 22,969 (2,306) 20,663 — — 2021 3115 Cambridge MA — 66,786 — 1,418 66,786 1,418 68,204 — — 2021 3116 Cambridge MA — — — 9,680 — 9,680 9,680 — — 2021 3119 Cambridge MA — — 29,667 — — 29,667 29,667 (2,041) 2021 2021 3120 Cambridge MA — 18,063 — 670 18,063 670 18,733 — — 2021 3122 Cambridge MA — 25,247 — 2,081 25,247 2,081 27,328 — — 2021 3136 Cambridge MA — 4,118 — (219) 4,119 (220) 3,899 — — 2021 3137 Cambridge MA — 41,327 — 2,767 41,327 2,767 44,094 — — 2021 3141 Cambridge MA — 72,466 — 5,757 72,768 5,455 78,223 — — 2022 3148 Cambridge MA — 2,277 — 704 2,290 691 2,981 — — 2022 3149 Cambridge MA — 5,690 — 314 5,734 270 6,004 — — 2022 3150 Cambridge MA — 1,651 — 206 1,659 198 1,857 — — 2022 3151 Cambridge MA — 8,532 — 457 8,583 406 8,989 — — 2022 3152 Cambridge MA — 9,892 — 1,035 10,507 420 10,927 — — 2023 2630 Lexington MA — 16,411 49,681 (2,292) 12,967 50,833 63,800 (10,653) 1999 2017 2631 Lexington MA — 7,759 142,081 30,228 6,978 173,090 180,068 (27,404) 2010/2023 2017 2632 Lexington MA — — 21,390 125,076 — 146,466 146,466 (18,615) 2021 2018 Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) 3070 Lexington MA — 14,013 17,083 (269) 14,013 16,814 30,827 (2,534) 1974/2012 2019 3071 Lexington MA — 14,930 16,677 (359) 14,930 16,318 31,248 (2,236) 1970/2012 2019 3072 Lexington MA — 34,598 43,032 (288) 34,598 42,744 77,342 (7,547) 1967/2013 2019 3073 Lexington MA — 37,050 44,647 144 37,050 44,791 81,841 (8,051) 2017 2019 3093 Waltham MA — 47,792 275,556 18,351 47,792 293,907 341,699 (38,172) 2018 2020 9999 Denton TX — 100 — — 100 — 100 — — 2016 464 Salt Lake City UT — 630 6,921 2,563 630 9,484 10,114 (5,812) 1996 2001 465 Salt Lake City UT — 125 6,368 68 125 6,436 6,561 (3,267) 1999 2001 466 Salt Lake City UT — — 14,614 (1,401) — 13,213 13,213 (5,371) 2002 2001 1593 Salt Lake City UT — — 23,998 250 — 24,248 24,248 (9,774) 2010 2010 $ — $ 1,936,228 $ 3,238,815 $ 3,654,501 $ 1,939,357 $ 6,890,187 $ 8,829,544 $ (1,444,864) Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) Outpatient medical 638 Anchorage AK $ — $ 1,456 $ 10,650 $ 10,727 $ 1,456 $ 21,377 $ 22,833 $ (9,272) 1993/2014 2006 3026 Bentonville AR — 912 21,724 658 912 22,382 23,294 (1,712) 2003 2022 126 Sherwood AR — 709 9,604 208 709 9,812 10,521 (7,007) 1990 1989 2572 Springdale AR — — 27,714 — — 27,714 27,714 (6,413) 1995 2016 520 Chandler AZ — 3,669 13,503 6,374 4,013 19,533 23,546 (9,353) 2005 2002 113 Glendale AZ — 1,565 7,050 175 1,565 7,225 8,790 (5,317) 1989 1988 2040 Mesa AZ — — 17,314 3,047 — 20,361 20,361 (4,856) 2007 2012 1066 Scottsdale AZ — 5,115 14,064 5,912 4,888 20,203 25,091 (8,153) 1999 2006 2021 Scottsdale AZ — — 12,312 4,763 — 17,075 17,075 (7,205) 1984 2012 2022 Scottsdale AZ — — 9,179 3,033 — 12,212 12,212 (4,579) 1996 2012 2023 Scottsdale AZ — — 6,398 1,818 — 8,216 8,216 (3,614) 2000 2012 2024 Scottsdale AZ — — 9,522 1,163 32 10,653 10,685 (4,712) 2007 2012 2025 Scottsdale AZ — — 4,102 2,451 — 6,553 6,553 (2,764) 1981 2012 2026 Scottsdale AZ — — 3,655 2,031 — 5,686 5,686 (2,734) 1992 2012 2027 Scottsdale AZ — — 7,168 2,119 — 9,287 9,287 (4,289) 1995 2012 2028 Scottsdale AZ — — 6,659 5,065 — 11,724 11,724 (5,306) 1998 2012 2696 Scottsdale AZ — 10,151 14,925 3,195 10,211 18,060 28,271 (5,217) 1998 2020 1041 Brentwood CA — — 30,864 9,237 183 39,918 40,101 (14,995) 2004 2006 1200 Encino CA — 6,151 10,438 6,043 6,388 16,244 22,632 (8,073) 1973 2006 1038 Fresno CA — 3,652 29,113 21,935 3,652 51,048 54,700 (23,741) 1984 2006 436 Murrieta CA — 400 9,266 2,855 608 11,913 12,521 (7,909) 1991 1999 239 Poway CA — 2,700 10,839 3,172 2,944 13,767 16,711 (8,922) 1990 1997 2654 Riverside CA — 2,758 9,908 529 2,266 10,929 13,195 (2,233) 2008 2017 318 Sacramento CA — 2,860 37,566 24,613 2,911 62,128 65,039 (26,629) 1989/2016 1998 2404 Sacramento CA — 1,268 5,109 1,652 1,299 6,730 8,029 (2,581) 1999 2015 421 San Diego CA — 2,910 19,984 15,146 2,964 35,076 38,040 (17,632) 1986/2013 1999 564 San Jose CA — 1,935 1,728 2,213 1,935 3,941 5,876 (1,596) 1968 2003 565 San Jose CA — 1,460 7,672 2,175 1,492 9,815 11,307 (4,641) 1995 2003 659 Los Gatos CA — 1,718 3,124 1,515 1,796 4,561 6,357 (2,028) 1995 2006 439 Valencia CA — 2,300 6,967 3,080 2,314 10,033 12,347 (6,726) 1990 1999 440 West Hills CA — 2,100 11,595 11,851 2,203 23,343 25,546 (8,502) 1992/2023 1999 3008 West Hills CA 12,093 5,795 13,933 2,897 5,823 16,802 22,625 (1,645) 1965 2021 728 Aurora CO — — 8,764 1,620 — 10,384 10,384 (3,927) 2005 2005 1196 Aurora CO — 210 12,362 6,172 210 18,534 18,744 (7,855) 1981/2018 2006 1197 Aurora CO — 200 8,414 5,673 285 14,002 14,287 (6,527) 1994/2018 2006 127 Colorado Springs CO — 690 8,338 367 690 8,705 9,395 (6,071) 1990 1989 882 Colorado Springs CO — — 12,933 9,106 — 22,039 22,039 (10,586) 2007 2006 1199 Denver CO — 493 7,897 1,789 604 9,575 10,179 (5,226) 1993 2006 808 Englewood CO — — 8,616 8,886 — 17,502 17,502 (9,595) 1981 2005 809 Englewood CO — — 8,449 19,042 — 27,491 27,491 (6,442) 1990 2005 810 Englewood CO — — 8,040 15,564 — 23,604 23,604 (9,606) 1989 2005 811 Englewood CO — — 8,472 11,904 — 20,376 20,376 (7,895) 1993/2020 2005 2658 Highlands Ranch CO — 1,637 10,063 95 1,732 10,063 11,795 (2,334) 2015 2017 812 Littleton CO — — 4,562 2,775 177 7,160 7,337 (3,465) 1987 2005 813 Littleton CO — — 4,926 2,072 246 6,752 6,998 (3,092) 1990 2005 570 Lone Tree CO — — — 22,171 — 22,171 22,171 (10,271) 2004 2003 666 Lone Tree CO — — 23,274 3,843 17 27,100 27,117 (12,486) 2003 2006 2233 Lone Tree CO — — 6,734 34,696 — 41,430 41,430 (11,074) 2015 2014 2965 Aurora CO — — — 2,251 — 2,251 2,251 — — 2023 3000 Lone Tree CO — 4,393 31,643 9,516 4,552 41,000 45,552 (3,772) 2020 2021 510 Thornton CO — 236 10,206 13,728 455 23,715 24,170 (8,016) 2001/2021 2002 434 Atlantis FL — — 2,027 171 — 2,198 2,198 (1,493) 1997 1999 435 Atlantis FL — — 2,000 608 — 2,608 2,608 (1,568) 1997 1999 602 Atlantis FL — 455 2,231 744 455 2,975 3,430 (1,357) 1984 2006 2963 Brooksville FL — — — 11,558 — 11,558 11,558 (1,526) 2020 2019 604 Englewood FL — 170 1,134 1,021 197 2,128 2,325 (823) 1986 2006 2962 Orange Park FL — — — 17,657 — 17,657 17,657 (1,571) 2022 2019 609 Kissimmee FL — 788 174 1,135 788 1,309 2,097 (655) 1978 2006 610 Kissimmee FL — 481 347 258 488 598 1,086 (336) 1978 2006 671 Kissimmee FL — — 7,574 818 — 8,392 8,392 (3,727) 1998 2006 603 Lake Worth FL — 1,507 2,894 534 1,507 3,428 4,935 (1,459) 1997 2006 612 Margate FL — 1,553 6,898 2,984 1,553 9,882 11,435 (4,880) 1994 2006 613 Miami FL — 4,392 11,841 11,366 4,454 23,145 27,599 (8,513) 1995/2020 2006 2202 Miami FL — — 13,123 10,907 — 24,030 24,030 (10,231) 1973 2014 2203 Miami FL — — 8,877 4,890 — 13,767 13,767 (5,359) 1986 2014 1067 Milton FL — — 8,566 1,662 — 10,228 10,228 (4,057) 2003 2006 2577 Naples FL — — 29,186 1,805 — 30,991 30,991 (6,953) 1999 2016 2578 Naples FL — — 18,819 667 — 19,486 19,486 (3,709) 2007 2016 2964 Okeechobee FL — — — 16,951 — 16,951 16,951 (1,266) 2022 2019 563 Orlando FL — 2,144 5,136 13,507 12,022 8,765 20,787 (6,599) 1985 2003 833 Pace FL — — 10,309 1,628 28 11,909 11,937 (4,541) 2005 2006 834 Pensacola FL — — 11,166 428 — 11,594 11,594 (4,506) 2005 2006 673 Plantation FL — 1,091 7,176 2,623 1,091 9,799 10,890 (4,461) 2001 2006 674 Plantation FL — — 8,273 1,560 — 9,833 9,833 (1,042) 2015 2021 2579 Punta Gorda FL — — 9,379 — — 9,379 9,379 (1,957) 2006 2016 Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) 2833 St. Petersburg FL — — 13,754 10,299 — 24,053 24,053 (9,609) 1995/2019 2006 887 Atlanta GA — 4,300 13,690 (1,800) 4,300 11,890 16,190 (10,007) 1966/1996 2007 3214 Savannah GA — — — 10,178 — 10,178 10,178 — — 2022 2576 Statesboro GA — — 10,234 1,430 — 11,664 11,664 (2,973) 1999 2016 3006 Arlington Heights IL 4,861 3,011 9,651 1,857 3,187 11,332 14,519 (1,299) 1975/2013 2021 2702 Bolingbrook IL — — 21,237 3,884 — 25,121 25,121 (3,025) 2008 2020 3004 Highland Park IL 5,853 2,767 11,495 572 2,767 12,067 14,834 (1,226) 2008 2021 3005 Lockport IL 11,011 3,106 22,645 — 3,106 22,645 25,751 (2,256) 2010 2021 1065 Marion IL — 99 11,538 2,005 100 13,542 13,642 (5,978) 2002 2006 2719 Marion IL — — — 5,098 — 5,098 5,098 (452) 2021 2021 2697 Indianapolis IN — — 59,746 954 — 60,700 60,700 (5,797) 2002 2020 2699 Indianapolis IN — — 23,211 737 — 23,948 23,948 (2,364) 2002 2020 2698 Mooresville IN — — 20,646 922 — 21,568 21,568 (2,080) 2004 2020 1057 Newburgh IN — — 14,019 4,149 — 18,168 18,168 (8,511) 2005 2006 2700 Zionsville IN — 2,969 7,281 804 3,040 8,014 11,054 (1,204) 2005 2020 2039 Kansas City KS — 440 2,173 390 440 2,563 3,003 (740) 2006 2012 112 Overland Park KS — 2,316 10,681 116 2,316 10,797 13,113 (8,176) 1989 1988 2043 Overland Park KS — — 7,668 2,000 — 9,668 9,668 (2,732) 2009 2012 3062 Overland Park KS — 872 11,813 59 992 11,752 12,744 (2,570) 2007 2019 483 Wichita KS — 530 3,341 437 605 3,703 4,308 (1,738) 2000 2001 3018 Wichita KS — 3,946 39,795 — 3,946 39,795 43,741 (3,933) 1973/2017 2021 1064 Lexington KY — — 12,726 2,213 — 14,939 14,939 (6,642) 2003 2006 735 Louisville KY — 936 8,426 13,840 661 22,541 23,202 (12,657) 1971/2019 2005 737 Louisville KY — 835 27,627 7,477 560 35,379 35,939 (16,906) 2002 2005 738 Louisville KY — 780 8,582 4,544 585 13,321 13,906 (10,521) 1978 2005 739 Louisville KY — 826 13,814 3,542 602 17,580 18,182 (7,444) 2003 2005 2834 Louisville KY — 2,983 13,171 5,433 2,983 18,604 21,587 (10,498) 1990 2005 1945 Louisville KY — 3,255 28,644 2,678 3,365 31,212 34,577 (13,208) 2009 2010 1946 Louisville KY — 430 6,125 230 430 6,355 6,785 (2,769) 2002 2010 2237 Louisville KY — 1,519 15,386 7,130 1,672 22,363 24,035 (8,330) 1991 2014 2238 Louisville KY — 1,334 12,172 3,049 1,558 14,997 16,555 (5,429) 1996 2014 2239 Louisville KY — 1,644 10,832 9,879 2,043 20,312 22,355 (7,588) 1988 2014 3023 Covington LA — 9,490 21,918 128 9,507 22,029 31,536 (2,254) 2014 2021 3121 Cambridge MA — 40,663 23,102 — 40,663 23,102 63,765 (1,776) 1983 2021 1213 Ellicott City MD — 1,115 3,206 3,013 1,357 5,977 7,334 (2,657) 1988 2006 1052 Towson MD — — 14,233 1,231 — 15,464 15,464 (6,004) 2005 2006 2650 Biddeford ME — 1,341 17,376 388 1,341 17,764 19,105 (4,251) 2007 2017 3002 Burnsville MN 7,737 2,801 17,779 1,151 2,861 18,870 21,731 (3,424) 1988 2021 3003 Burnsville MN 5,158 516 13,200 462 533 13,645 14,178 (2,225) 1992 2021 3009 Burnsville MN 19,046 4,640 38,064 333 4,664 38,373 43,037 (3,990) 2007 2021 240 Minneapolis MN — 117 13,213 5,337 117 18,550 18,667 (11,776) 1986 1997 300 Minneapolis MN — 160 10,131 5,086 214 15,163 15,377 (9,547) 1987 1998 2703 Columbia MO — 4,141 20,364 — 4,141 20,364 24,505 (2,696) 1997 2020 2032 Independence MO — — 48,025 1,872 — 49,897 49,897 (12,858) 2006 2012 2863 Lee's Summit MO — — — 16,470 — 16,470 16,470 (2,633) 2020 2019 1078 Flowood MS — — 8,413 1,472 — 9,885 9,885 (4,097) 2003 2006 1059 Jackson MS — — 8,868 668 — 9,536 9,536 (4,090) 2002 2006 1060 Jackson MS — — 7,187 2,038 — 9,225 9,225 (3,797) 2005 2006 1068 Omaha NE — — 16,243 2,667 24 18,886 18,910 (8,250) 2005 2006 2651 Charlotte NC — 1,032 6,196 253 1,032 6,449 7,481 (1,252) 2007 2017 2695 Charlotte NC — 844 5,021 266 844 5,287 6,131 (960) 2007 2017 2655 Wilmington NC — 1,949 12,244 — 1,949 12,244 14,193 (2,749) 2003 2017 2656 Wilmington NC — 2,071 11,592 — 2,071 11,592 13,663 (2,575) 2006 2017 2657 Shallotte NC — 918 3,609 — 918 3,609 4,527 (1,106) 2017 2017 2647 Concord NH — 1,961 23,516 (614) 1,032 23,831 24,863 (3,577) 2004 2017 2648 Concord NH — 815 8,902 172 408 9,481 9,889 (2,073) 2008 2017 2649 Epsom NH — 919 5,868 (513) 304 5,970 6,274 (1,174) 2010 2017 3011 Cherry Hill NJ — 5,235 21,731 — 5,235 21,731 26,966 (2,695) 2014 2021 3012 Morristown NJ — 21,703 32,517 5,472 21,703 37,989 59,692 (4,413) 1983/2013 2021 3013 Morristown NJ — 14,567 20,548 8,647 14,567 29,195 43,762 (2,439) 1990 2021 3014 Morristown NJ — 20,563 31,849 1,721 20,563 33,570 54,133 (2,591) 1981 2021 729 Albuquerque NM — — 5,380 1,944 — 7,324 7,324 (2,828) 2006 2005 571 Las Vegas NV — — — 23,267 — 23,267 23,267 (9,353) 2004 2003 660 Las Vegas NV — 1,121 4,363 9,560 1,147 13,897 15,044 (4,967) 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 12,799 1,724 16,389 18,113 (6,718) 1974/2018 2006 664 Las Vegas NV — 1,172 — 633 1,805 — 1,805 (433) — 2006 691 Las Vegas NV — 3,073 18,339 8,001 3,116 26,297 29,413 (16,290) 1989/2015 2004 2037 Mesquite NV — — 5,559 988 34 6,513 6,547 (2,148) 2004 2012 400 Harrison OH — — 4,561 366 — 4,927 4,927 (3,149) 1995 1999 1054 Durant OK — 619 9,256 3,111 666 12,320 12,986 (5,294) 1998 2006 817 Owasso OK — — 6,582 (443) — 6,139 6,139 (2,789) 2006 2005 404 Roseburg OR — — 5,707 895 — 6,602 6,602 (3,892) 1999 1999 3010 Springfield OR 20,732 — 51,998 416 — 52,414 52,414 (5,426) 2011 2021 2570 Limerick PA — 925 20,072 (119) 755 20,123 20,878 (5,075) 1999 2016 Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) 2234 Philadelphia PA — 24,264 99,904 50,137 24,288 150,017 174,305 (43,316) 1973/2019 2014 2403 Philadelphia PA — 26,063 97,646 39,404 26,134 136,979 163,113 (49,725) 2000 2015 2571 Wilkes-Barre PA — — 9,138 — — 9,138 9,138 (2,550) 2001 2016 2694 Anderson SC — 405 1,211 — 405 1,211 1,616 (352) 2012 2020 2573 Florence SC — — 12,090 90 — 12,180 12,180 (2,712) 1998 2016 2574 Florence SC — — 12,190 87 — 12,277 12,277 (2,729) 1998 2016 2575 Florence SC — — 11,243 56 — 11,299 11,299 (3,076) 1995 2016 2841 Greenville SC — 634 38,386 1,277 13 40,284 40,297 (9,241) 1991 2018 2842 Greenville SC — 794 41,293 211 — 42,298 42,298 (9,320) 1999 2018 2843 Greenville SC — 626 22,210 (368) — 22,468 22,468 (5,258) 1996 2018 2844 Greenville SC — 806 18,889 259 — 19,954 19,954 (4,349) 1998 2018 2845 Greenville SC — 932 40,879 (3,557) — 38,254 38,254 (5,148) 2005 2018 2846 Greenville SC — 896 38,486 205 — 39,587 39,587 (8,339) 2007 2018 2847 Greenville SC — 600 26,472 4,750 — 31,822 31,822 (8,164) 1996 2018 2850 Greenville SC — 211 6,503 153 211 6,656 6,867 (1,920) 2008 2018 2853 Greenville SC — 534 6,430 (1,388) — 5,576 5,576 (1,038) 1998 2018 2854 Greenville SC — 824 13,645 (512) — 13,957 13,957 (3,785) 1992 2018 2848 Greer SC — 318 5,816 97 318 5,913 6,231 (1,512) 2008 2018 2849 Greer SC — 319 5,836 (777) — 5,378 5,378 (734) 2008 2018 2851 Travelers Rest SC — 498 1,015 3 299 1,217 1,516 (611) 1998 2018 2862 Myrtle Beach SC — — — 28,496 — 28,496 28,496 (6,051) 2019 2018 2865 Brentwood TN — — — 35,219 52 35,167 35,219 (3,870) 2020 2019 624 Hendersonville TN — 256 1,530 2,383 256 3,913 4,169 (1,991) 1985 2006 559 Hermitage TN — 830 5,036 13,157 837 18,186 19,023 (6,882) 1999/2019 2003 561 Hermitage TN — 596 9,698 4,262 596 13,960 14,556 (7,331) 1993 2003 562 Hermitage TN — 317 6,528 2,979 317 9,507 9,824 (4,491) 1994 2003 625 Nashville TN — 955 14,289 7,675 955 21,964 22,919 (9,756) 2000 2006 626 Nashville TN — 2,050 5,211 5,198 2,050 10,409 12,459 (3,987) 1987 2006 627 Nashville TN — 1,007 181 986 1,113 1,061 2,174 (555) 1975 2006 628 Nashville TN — 2,980 7,164 3,046 2,980 10,210 13,190 (4,235) 1988 2006 630 Nashville TN — 515 848 339 515 1,187 1,702 (536) 1975 2006 631 Nashville TN — 266 1,305 1,266 266 2,571 2,837 (1,450) 1980 2006 632 Nashville TN — 827 7,642 3,034 827 10,676 11,503 (5,283) 1988 2006 633 Nashville TN — 5,425 12,577 5,720 5,425 18,297 23,722 (8,059) 1971 2006 634 Nashville TN — 3,818 15,185 12,266 3,818 27,451 31,269 (11,240) 1992 2006 636 Nashville TN — 583 450 424 604 853 1,457 (372) 1974 2006 2967 Nashville TN — — — 52,503 — 52,503 52,503 (4,519) 2021 2019 2720 Nashville TN — 102 10,925 1,058 102 11,983 12,085 (2,038) 1986 2021 2611 Allen TX — 1,330 5,960 1,245 1,374 7,161 8,535 (1,868) 2004 2016 2612 Allen TX — 1,310 4,165 1,516 1,310 5,681 6,991 (1,540) 2005 2016 573 Arlington TX — 769 12,355 26,097 769 38,452 39,221 (8,657) 1995 2006 2621 Cedar Park TX — 1,617 11,640 950 1,617 12,590 14,207 (2,144) 2007 2017 576 Conroe TX — 324 4,842 4,171 324 9,013 9,337 (3,998) 1983 2006 577 Conroe TX — 397 7,966 2,981 397 10,947 11,344 (4,740) 1995 2006 578 Conroe TX — 388 7,975 2,576 388 10,551 10,939 (4,587) 1997/2012 2006 579 Conroe TX — 188 3,618 1,045 188 4,663 4,851 (2,423) 1995 2006 581 Corpus Christi TX — 717 8,181 4,253 717 12,434 13,151 (5,699) 1995 2006 600 Corpus Christi TX — 328 3,210 1,913 328 5,123 5,451 (2,851) 1995 2006 601 Corpus Christi TX — 313 1,771 2,014 325 3,773 4,098 (1,886) 1985 2006 2839 Cypress TX — — — 37,639 11 37,628 37,639 (12,404) 2016 2015 582 Dallas TX — 1,664 6,785 4,342 1,718 11,073 12,791 (5,040) 1979 2006 1314 Dallas TX — 15,230 162,970 29,075 23,630 183,645 207,275 (88,337) 1974 2007 1315 Dallas TX — — — 4,083 17 4,066 4,083 (1,663) 1978 2007 1316 Dallas TX — — — 9,691 64 9,627 9,691 (1,720) 1985 2007 1317 Dallas TX — — — 12,061 166 11,895 12,061 (2,256) 1995 2007 1319 Dallas TX — 18,840 155,659 6,539 18,840 162,198 181,038 (76,716) 1974 2007 2721 Dallas TX — 31,707 2,000 347 31,707 2,347 34,054 (1,998) 1983 2020 3007 Denton TX 5,654 2,298 9,502 97 2,338 9,559 11,897 (1,298) 2014 2021 3020 Frisco TX — — 27,201 1,214 — 28,415 28,415 (2,394) 2004 2021 3021 Frisco TX — — 26,181 2,186 — 28,367 28,367 (2,700) 2004 2021 583 Fort Worth TX — 898 4,866 4,115 898 8,981 9,879 (4,168) 1995 2006 805 Fort Worth TX — — 2,481 1,316 45 3,752 3,797 (2,458) 1985 2005 806 Fort Worth TX — — 6,070 1,206 5 7,271 7,276 (3,310) 1985 2005 2619 Fort Worth TX — 1,180 13,432 1,910 1,180 15,342 16,522 (2,149) 2006 2017 2620 Fort Worth TX — 1,961 14,155 1,521 2,000 15,637 17,637 (2,272) 2005 2017 2982 Fort Worth TX — 2,720 6,225 5,959 2,719 12,185 14,904 (3,194) 2020 2019 1061 Granbury TX — — 6,863 1,321 — 8,184 8,184 (3,667) 2001 2006 430 Houston TX — 1,927 33,140 20,350 2,388 53,029 55,417 (31,358) 1985/2018 1999 446 Houston TX — 2,200 19,585 13,593 2,936 32,442 35,378 (23,431) 1976/2018 1999 589 Houston TX — 1,676 12,602 15,520 1,676 28,122 29,798 (8,121) 1985/2022 2006 702 Houston TX — — 7,414 2,570 — 9,984 9,984 (4,628) 2006 2006 1044 Houston TX — — 4,838 6,971 1,321 10,488 11,809 (3,602) 2006 2006 2542 Houston TX — 304 17,764 (304) — 17,764 17,764 (4,314) 1990 2015 2543 Houston TX — 116 6,555 (116) — 6,555 6,555 (1,857) 1970 2015 2544 Houston TX — 312 12,094 (312) — 12,094 12,094 (3,427) 1987 2015 2545 Houston TX — 316 13,931 (300) — 13,947 13,947 (2,960) 2005 2015 Encumbrances at December 31, 2023 Initial Cost to Company Costs Capitalized Subsequent to Acquisition (3) Gross Amount at Which Carried Accumulated Depreciation (5) Year Constructed (6) Year Acquired City State Land and improvements (1) Buildings and Improvements (2) Land and improvements Buildings and Improvements Total (4) 2546 Houston TX — 408 18,332 740 — 19,480 19,480 (6,233) 1977 2015 2547 Houston TX — 470 18,197 (250) — 18,417 18,417 (5,156) 1985 2015 2548 Houston TX — 313 7,036 (140) — 7,209 7,209 (2,392) 1979 2015 2549 Houston TX — 530 22,711 68 530 22,779 23,309 (4,740) 2006 2015 2966 Houston TX — — — 39,448 — 39,448 39,448 (2,576) 2022 2020 590 Irving TX — 828 6,160 5,455 828 11,615 12,443 (4,835) 1997 2006 700 Irving TX — — 8,550 3,091 8 11,633 11,641 (5,109) 2004 2006 1207 Irving TX — 1,955 12,793 4,699 2,032 17,415 19,447 (6,471) 2001 2006 2840 Kingwood TX — 3,035 28,373 464 3,422 28,450 31,872 (6,005) 2003 2016 591 Lewisville TX — 561 8,043 1,102 561 9,145 9,706 (4,487) 1976 2006 144 Longview TX — 102 7,998 988 102 8,986 9,088 (5,735) 1993 1992 143 Lufkin TX — 338 2,383 219 338 2,602 2,940 (1,648) 1993 1992 568 McKinney TX — 541 6,217 3,371 541 9,588 10,129 (4,892) 1999 2003 569 McKinney TX — — 636 8,319 — 8,955 8,955 (4,506) 2004 2003 3216 McKinney TX — — — 1,415 — 1,415 1,415 — — 2023 596 North Richland Hills TX — 812 8,883 4,524 812 13,407 14,219 (5,619) 1999 2006 2048 North Richland Hills TX — 1,385 10,213 1,849 1,400 12,047 13,447 (5,367) 2007 2012 2835 Pearland TX — — 4,014 4,238 29 8,223 8,252 (3,217) 2006 2006 2838 Pearland TX — — — 18,363 — 18,363 18,363 (5,422) 2015 2014 597 Plano TX — 1,210 9,588 7,506 1,225 17,079 18,304 (6,930) 1997 2006 6

Schedule IV_ Mortgage Loans on

Schedule IV: Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2023
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 10 properties: Multiple Other 4.0% + (SOFR + 10 bps) Variable 2/1/2024 (1) Interest only $ — $ 130,678 $ 128,027 $ — First mortgages relating to 10 properties: Multiple Other 7.0% + (SOFR + 11 bps) Variable 1/21/2024 (2) Interest only — 48,000 47,690 — $ — $ 178,678 $ 175,717 $ — _______________________________________ (1) In February 2024, the loan reached its maturity. The Company provided a short-term extension to the borrower, and the Company and the borrower are currently negotiating long-term refinance and extension terms (see Note 7 to the Consolidated Financial Statements for additional information). (2) In January 2024, this loan was refinanced with the Company. In connection with the refinance, the maturity date of the loan was extended to January 2025 (see Note 7 to the Consolidated Financial Statements for additional information). Year Ended December 31, 2023 2022 2021 Reconciliation of mortgage loans Balance at beginning of year $ 341,749 $ 390,291 $ 157,572 Additions: New mortgage loans — — 310,338 Draws and additions to existing mortgage loans 11,602 5,525 9,370 Total additions 11,602 5,525 319,708 Deductions: Principal repayments (183,084) (47,591) (84,486) Recoveries (reserves) for loan losses (1) 5,450 (6,476) (2,503) Total deductions (177,634) (54,067) (86,989) Balance at end of year $ 175,717 $ 341,749 $ 390,291 _______________________________________ (1)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 306,009	$ 500,449	$ 505,540

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 lab and outpatient medical buildings 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 building’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 accounts receivable and 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. The Company does not resume recognition of income on a straight-line basis unless it determines that collectibility of future payments related to these leases is probable. For the Company’s portfolio of operating leases that are deemed probable of collection but exhibit a certain level of collectibility risk, the Company may also recognize an incremental allowance as a reduction to revenue. 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. 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, 2023, 2022, and 2021, the Company received government grants under the CARES Act primarily to cover increased expenses and lost revenues during the coronavirus pandemic. 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, 2023, the amount of qualifying expenditures and lost revenues 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 to determine whether any updates to the future expected losses recognized upon inception are necessary. The Company’s evaluation considers payment history and current credit status, industry conditions, current economic conditions, forecasted economic conditions, individual and portfolio property performance, credit enhancements, liquidity, and other factors. Future economic conditions are based primarily on near-term economic forecasts from the Federal Reserve and reasonable assumptions for long-term economic trends. 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 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 in its assessment of internal ratings 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 over the lease term. The Company computes depreciation on properties using the straight-line method over the assets’ estimated useful lives. These useful lives are reassessed following changes in the remaining period that the asset is expected to be held and used, and depreciation is discontinued when a property meets the criteria to be classified as held for sale. Buildings and improvements are depreciated over useful lives ranging up to approximately 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	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 external market factors and the expected use and eventual disposition of the asset, and based on the specific facts and circumstances, may be 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 In 2020, the Company concluded that the dispositions of its senior housing triple-net and SHOP portfolios represented a strategic shift that had a major effect on its operations and financial results. Therefore, the results of senior housing triple-net and SHOP assets 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 4 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.
Stock-Based Compensation	Stock-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 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 and local 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 Costs
Capital Raising Issuance Costs	Capital Raising Issuance Costs Costs incurred in connection with the issuance of common shares are recorded as a reduction of additional paid-in capital. Debt issuance costs related to debt instruments, excluding line of credit arrangements and commercial paper, are deferred, recorded as a reduction of the related debt liability, and amortized to interest expense over the remaining term of the related debt liability utilizing the effective interest method. Debt issuance costs related to line of credit arrangements and commercial paper are deferred, included in other assets, and amortized to interest expense on a straight-line basis over the remaining term of the related line of credit arrangement. Commercial paper are unsecured short-term debt securities with varying maturities. A line of credit serves as a liquidity backstop for repayment of commercial paper borrowings. Penalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts, and premiums are recognized as income or expense in the Consolidated Statements of Operations at the time of extinguishment.
Segment Reporting	Segment Reporting
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. 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. Healthpeak OP Immediately following the Reorganization, Healthpeak Properties, Inc. was the initial sole member and 100% owner of Healthpeak OP. Subsequent to the Reorganization, certain employees of the Company (“OP Unitholders”) were issued noncontrolling, non-managing member units in Healthpeak OP (“OP Units”). When certain conditions are met, the OP Unitholders have the right to require redemption of part or all of their OP Units for cash or shares of the Company’s common stock, at the Company’s option as managing member of Healthpeak OP. The per unit redemption amount is equal to either one share of the Company’s common stock or cash equal to the fair value of a share of common stock at the time of redemption. The Company classifies the OP Units in permanent equity because it may elect, in its sole discretion, to issue shares of its common stock to OP Unitholders who choose to redeem their OP Units rather than using cash. DownREITs 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.
Fair Value Measurement	Fair Value Measurement The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1—quoted prices for identical instruments in active markets; • Level 2—quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3—fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities that are required to be measured at fair value. When available, the Company utilizes quoted market prices to determine fair value and classifies such items in Level 1. In instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies the asset or liability in Level 2. If quoted market prices or inputs are not available, fair value measurements are based on valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads, and/or market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow models. The Company also considers its counterparty’s and own credit risk for derivative instruments and other liabilities measured at fair value. The Company has elected the mid-market pricing expedient when determining fair value.
Earnings per Share	Earnings per Share
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Government Assistance. In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance (“ASU 2021-10”), which increased 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. From March 2020 to December 2022, the FASB issued a series of ASUs that provide optional expedients that may be elected through December 31, 2024 to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. The amendments in these ASUs were effective immediately upon issuance. During the first quarter of 2023, the Company amended certain of its variable rate mortgage debt and the related interest rate swap agreements to change the interest rate benchmark from the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) and accordingly, the Company elected to apply certain practical expedients provided by these ASUs related to cash flow hedges. These expedients and the effects of reference rate reform have not had a material impact on the Company’s consolidated financial position, results of operations, cash flows, or disclosures. Not Yet Adopted Segment Reporting. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), to improve reportable segment disclosure requirements so that investors can better understand an entity’s overall performance and assess potential future cash flows. The amendments in ASU 2023-07 include, but are not limited to: (i) disclosure of, on an annual basis, significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; (ii) disclosure of, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition (the other segment items category is the difference between segment revenue less the significant expenses disclosed and each reported measure of segment profit or loss); (iii) disclosure of, on an interim basis, all currently required annual disclosures about a reportable segment’s profit (loss) and assets; (iv) clarification that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, an entity may report one or more of those additional measures of segment profit; and (v) disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact ASU 2023-07 will have on its disclosures. Income Taxes. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), to provide disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. One of the amendments in ASU 2023-09 includes disclosure of, on an annual basis, a tabular rate reconciliation (using both percentages and reporting currency amounts) of (i) the reported income tax expense (or benefit) from continuing operations, to (ii) the product of the income (or loss) from continuing operations before income taxes and the applicable statutory federal income tax rate of the jurisdiction of domicile using specific categories, including separate disclosure for any reconciling items within certain categories that are equal to or greater than a specified quantitative threshold of 5%. ASU 2023-09 also requires disclosure of, on an annual basis, the year to date amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign jurisdictions, including additional disaggregated information on income taxes paid (net of refunds received) to an individual jurisdiction equal to or greater than 5% of total income taxes paid (net of refunds received). The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. The Company is evaluating the impact ASU 2023-09 will have on its disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Government grant income recorded in other income (expense), net $ 184 $ 6,765 $ 1,412 Government grant income recorded in equity income (loss) from unconsolidated joint ventures 229 878 1,749 Government grant income recorded in income (loss) from discontinued operations — 217 3,669 Total government grants received $ 413 $ 7,860 $ 6,830

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Capital Improvements	The following table summarizes the Company’s expenditures for construction, tenant improvements, and other capital improvements for its consolidated property investments, excluding expenditures related to properties classified as discontinued operations (in thousands): Year Ended December 31, Segment 2023 2022 2021 Lab $ 428,961 $ 658,542 $ 472,301 Outpatient medical 236,135 237,761 230,227 CCRC 109,465 65,691 57,192 $ 774,561 $ 961,994 $ 759,720

Dispositions of Real Estate a_2

Dispositions of Real Estate and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Summary of Dispositions of Real Estate and Discontinued Operations	The results of discontinued operations during the years ended December 31, 2023, 2022, and 2021 are presented below (in thousands) and are included in the consolidated results of operations for the years ended December 31, 2023, 2022, and 2021: Year Ended December 31, 2023 2022 2021 Revenues: Rental and related revenues $ — $ — $ 7,535 Resident fees and services — 7,489 114,936 Total revenues — 7,489 122,471 Costs and expenses: Interest expense — — 3,900 Operating — 6,452 122,571 Transaction and merger-related costs — — 76 Impairments and loan loss reserves (recoveries), net — — 32,736 Total costs and expenses — 6,452 159,283 Other income (expense): Gain (loss) on sales of real estate, net — 1,344 414,721 Other income (expense), net — 169 4,189 Total other income (expense), net — 1,513 418,910 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures — 2,550 382,098 Income tax benefit (expense) — 270 969 Equity income (loss) from unconsolidated joint ventures — 64 5,135 Income (loss) from discontinued operations $ — $ 2,884 $ 388,202

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Fixed income from operating leases $ 1,236,502 $ 1,182,463 $ 1,087,683 Variable income from operating leases 395,303 359,312 290,701 Interest income from direct financing leases — 1,168 8,702
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, 2023 (in thousands): Year Amount 2024 $ 1,135,628 2025 1,063,147 2026 975,246 2027 888,223 2028 788,742 Thereafter 2,818,655 $ 7,669,641
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 2024 $ 14,199 12 2025 14,244 16 2026 16,422 8 2027 8,116 5 2028 1,252 1 Thereafter 16,212 5 $ 70,445 47 _______________________________________ (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 discontinued operations (dollars in thousands): Year Ended December 31, Lease Expense Information: 2023 2022 2021 Total lease expense $ 17,010 $ 16,689 $ 14,442 Weighted Average Lease Term and Discount Rate: December 31, December 31, Weighted average remaining lease term (years): Operating leases (1) 51 51 Weighted average discount rate: Operating leases 4.23 % 4.20 % _______________________________________ (1) As of both December 31, 2023 and 2022, the weighted average remaining lease term including the Company’s options to extend its operating leases is 67 years.
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, 2023 (in thousands): Year Amount 2024 $ 16,950 2025 12,399 2026 12,326 2027 12,321 2028 12,351 Thereafter 475,584 Undiscounted minimum lease payments included in the lease liability 541,931 Less: imputed interest (335,188) Present value of lease liability $ 206,743

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Loans Receivable	The following table summarizes the Company’s loans receivable (in thousands): December 31, 2023 2022 Secured loans (1) $ 178,678 $ 350,837 CCRC resident loans 42,733 33,083 Unamortized discounts and fees (131) (808) Reserve for loan losses (2,830) (8,280) Loans receivable, net $ 218,450 $ 374,832 _______________________________________ (1) At December 31, 2023 and 2022, the Company had $29 million and $40 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, 2023 (in thousands): Investment Type Year of Origination Total 2023 2022 2021 (1) 2020 2019 Prior Secured loans Risk rating: Performing loans $ — $ — $ 175,717 $ — $ — $ — $ 175,717 Watch list loans — — — — — — — Workout loans — — — — — — — Total secured loans $ — $ — $ 175,717 $ — $ — $ — $ 175,717 Current period gross write-offs $ — $ — $ — $ — $ — $ — $ — Current period recoveries — — — — — — — Current period net write-offs $ — $ — $ — $ — $ — $ — $ — CCRC resident loans Risk rating: Performing loans $ 42,132 $ 601 $ — $ — $ — $ — $ 42,733 Watch list loans — — — — — — — Workout loans — — — — — — — Total CCRC resident loans $ 42,132 $ 601 $ — $ — $ — $ — $ 42,733 Current period gross write-offs $ — $ — $ — $ — $ — $ — $ — Current period recoveries — — — — — — — Current period net write-offs $ — $ — $ — $ — $ — $ — $ — _______________________________________ (1) Additional financing funded on the Sunrise Senior Housing Portfolio Seller Financing (as discussed above) is included in the year of origination of the initial financing.
Schedule of Financing Receivable, Allowance for Credit Loss	The following table summarizes the Company’s reserve for loan losses (in thousands): December 31, 2023 December 31, 2022 Secured Loans Other (1) Total Secured Loans Other (1) Total Reserve for loan losses, beginning of period $ 8,280 $ — $ 8,280 $ 1,804 $ 9 $ 1,813 Provision for expected loan losses 2,088 — 2,088 6,527 7 6,534 Expected loan losses (recoveries) related to loans sold or repaid (7,538) — (7,538) (51) (16) (67) Reserve for loan losses, end of period $ 2,830 $ — $ 2,830 $ 8,280 $ — $ 8,280 _______________________________________ (1) Includes CCRC resident loans and other loan activity.

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Company Owned Interests in Entities, Accounted Under Equity Method	The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands): Carrying Amount December 31, Entity (1) Segment Property Count (2) Ownership % (2) 2023 2022 South San Francisco JVs (3) Lab 7 70 $ 393,374 $ 309,969 SWF SH JV Other 19 54 332,693 345,978 Lab JV Lab 1 49 31,761 26,601 Needham Land Parcel JV (4) Lab — 38 17,084 15,391 Outpatient Medical JVs (5) Outpatient medical 2 20 - 67 7,941 8,738 $ 782,853 $ 706,677 _______________________________________ (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, 2023. (3) Includes seven unconsolidated lab 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 JVs” below for further information. (4) Land held for development is excluded from the property count as of December 31, 2023. (5) Includes two unconsolidated outpatient medical joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%) and (ii) Suburban Properties, LLC (67%). As of December 31, 2022, these joint ventures held a total of three properties. In April 2023, the Company acquired the remaining 80% interest in one of the two properties in the Ventures IV unconsolidated joint venture for $4 million (see Note 3 )

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 2022 (1) Gross intangible lease assets $ 739,228 $ 770,285 Accumulated depreciation and amortization (425,072) (352,224) Intangible assets, net $ 314,156 $ 418,061 Weighted average remaining amortization period in years 5 5 _______________________________________ (1) Excludes intangible assets reported in assets held for sale of $2 million.
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 2023 2022 Gross intangible lease liabilities $ 228,105 $ 237,464 Accumulated depreciation and amortization (100,725) (81,271) Intangible liabilities, net $ 127,380 $ 156,193 Weighted average remaining amortization period in years 7 7
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, 2023 2022 2021 Depreciation and amortization expense related to amortization of lease-up intangibles (1) $ 102,249 $ 104,885 $ 106,106 Rental and related revenues related to amortization of net below market lease liabilities (1) 27,012 24,640 20,597 _______________________________________ (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 2024 $ 22,577 $ 95,208 2025 21,560 83,629 2026 19,071 51,580 2027 15,064 25,981 2028 11,945 16,216 Thereafter 29,909 34,288 $ 120,126 $ 306,902

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Senior Unsecured Notes	The following table summarizes the Company’s senior unsecured notes issuances for the years ended December 31, 2023, 2022, and 2021 (dollars in thousands): Issue Date Amount Coupon Rate Maturity Year Year ended December 31, 2023: January 17, 2023 $ 400,000 5.25 % 2032 May 10, 2023 (1) 350,000 5.25 % 2032 Year ended December 31, 2021: November 24, 2021 (2) 500,000 2.13 % 2028 July 12, 2021 (2) 450,000 1.35 % 2027 _______________________________________ (1) In May 2023, the Company issued $350 million of 5.25% senior unsecured notes due 2032, which constituted an additional issuance of, and are treated as a single series with, the $400 million of senior unsecured notes due 2032 issued in January 2023. (2) 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.
Summary of Senior Unsecured Notes Payoffs	The following table summarizes the Company’s senior unsecured notes repurchases and redemptions for the year ended December 31, 2021 (dollars in thousands): Payoff Date (1) Amount Coupon Rate Maturity Year 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 _______________________________________ (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.
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, 2023 (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 2024 $ — $ — $ — $ — — % $ 7,024 6.90 % $ 7,024 2025 — — — 800,000 3.92 % 3,209 3.82 % 803,209 2026 — 720,000 — 650,000 3.40 % 244,523 4.44 % 1,614,523 2027 — — 500,000 450,000 1.54 % 366 5.91 % 950,366 2028 — — — 500,000 2.35 % — — % 500,000 Thereafter — — — 3,050,000 4.18 % — — % 3,050,000 — 720,000 500,000 5,450,000 255,122 6,925,122 Premiums, (discounts), and debt issuance costs, net — — (3,176) (46,622) 975 (48,823) $ — $ 720,000 $ 496,824 $ 5,403,378 $ 256,097 $ 6,876,299 _______________________________________ (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 3.66% and a weighted average maturity of 6 years. (3) Effective interest rates on the mortgage debt range from 3.44% to 9.26% with a weighted average effective interest rate of 4.50% 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, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Material Commitments	The following table summarizes the Company’s material commitments, excluding potential success-based fees as a result of the Mergers (see Note 1), obligations as the lessee under operating leases (see Note 6), commitments to fund additional loans for senior housing redevelopment and capital expenditure projects (see Note 7), debt service obligations (see Note 10), and potential future obligations related to redeemable noncontrolling interests (see Note 12) at December 31, 2023 (in thousands): Amount Development and redevelopment commitments (1) $ 151,996 Lease and other contractual commitments (2) 27,655 $ 179,651 _______________________________________ (1) Represents construction and other commitments as of December 31, 2023 for developments and redevelopments in progress and includes allowances for Company-owned 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, 2023 and includes allowances for Company-owned tenant improvements and leasing commissions. Excludes allowances for Company-owned 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).

Equity and Redeemable Noncont_2

Equity and Redeemable Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Dividend Reinvestment and Stock Purchase Plan $ 70 $ 59 $ 81 Conversion of DownREIT units 72 27 8 Exercise of stock options — — 97 Vesting of restricted stock units 613 820 924 Repurchase of common stock 241 2,418 418
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the Company’s accumulated other comprehensive income (loss) (in thousands): December 31, 2023 2022 Unrealized gains (losses) on derivatives, net $ 21,245 $ 30,145 Supplemental Executive Retirement Plan minimum liability (1,874) (2,011) Total accumulated other comprehensive income (loss) $ 19,371 $ 28,134 The Company has a defined benefit pension plan, known as the Supplemental Executive Retirement Plan, with one plan participant, a 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, 2023
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, 2023 2022 2021 Numerator Income (loss) from continuing operations $ 334,757 $ 513,540 $ 137,728 Noncontrolling interests’ share in continuing operations (28,748) (15,975) (17,851) Income (loss) from continuing operations attributable to Healthpeak Properties, Inc. 306,009 497,565 119,877 Less: Participating securities’ share in continuing operations (1,725) (2,657) (3,269) Income (loss) from continuing operations applicable to common shares 304,284 494,908 116,608 Income (loss) from discontinued operations — 2,884 388,202 Noncontrolling interests’ share in discontinued operations — — (2,539) Net income (loss) applicable to common shares - basic and diluted $ 304,284 $ 497,792 $ 502,271 Denominator Basic weighted average shares outstanding 547,006 538,809 538,930 Dilutive potential common shares - equity awards (1) 269 338 310 Dilutive potential common shares - forward equity agreements (2) — — 1 Diluted weighted average common shares 547,275 539,147 539,241 Basic earnings (loss) per common share Continuing operations $ 0.56 $ 0.92 $ 0.22 Discontinued operations — 0.00 0.71 Net income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93 Diluted earnings (loss) per common share Continuing operations $ 0.56 $ 0.92 $ 0.22 Discontinued operations — 0.00 0.71 Net income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93 _______________________________________ (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, 2023, forward equity sales agreements had no dilutive impact as no shares were outstanding under ATM forward contracts during the year. For the year ended December 31, 2022, all 9.1 million

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Unit and LTIP Unit activity	The following table summarizes Restricted Stock Unit and LTIP Unit activity for the year ended December 31, 2023 (units in thousands): Restricted Stock Units LTIP Units Number of Units Weighted Number of Units Weighted Unvested at January 1, 2023 1,709 $ 33.66 — $ — Granted 393 28.12 1,970 14.66 Vested (613) 37.97 (76) 24.56 Forfeited (610) 31.16 — — Unvested at December 31, 2023 879 $ 29.91 1,894 $ 14.26

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023: Lab Outpatient Medical CCRC Other Non-reportable Corporate Non-segment Total Total revenues $ 878,326 $ 753,479 $ 527,417 $ 21,781 $ — $ 2,181,003 Government grant income (1) — — 184 — — 184 Less: Interest income — — — (21,781) — (21,781) Healthpeak’s share of unconsolidated joint venture total revenues 9,924 3,033 — 82,426 — 95,383 Healthpeak’s share of unconsolidated joint venture government grant income — — — 229 — 229 Noncontrolling interests’ share of consolidated joint venture total revenues (619) (35,073) — — — (35,692) Operating expenses (229,630) (263,132) (413,472) — 4,174 (902,060) Healthpeak’s share of unconsolidated joint venture operating expenses (4,092) (1,189) — (60,811) — (66,092) Noncontrolling interests’ share of consolidated joint venture operating expenses 156 9,921 — — — 10,077 Adjustments to NOI (2) (36,524) (14,314) (1,618) 366 (4,174) (56,264) Adjusted NOI 617,541 452,725 112,511 22,210 — 1,204,987 Plus: Adjustments to NOI (2) 36,524 14,314 1,618 (366) 4,174 56,264 Interest income — — — 21,781 — 21,781 Interest expense — (7,770) (7,010) — (185,551) (200,331) Depreciation and amortization (328,349) (289,683) (131,869) — — (749,901) General and administrative — — — — (95,132) (95,132) Transaction and merger-related costs (333) (1,120) (1,881) — (14,181) (17,515) Impairments and loan loss reserves, net — — — 5,601 — 5,601 Gain (loss) on sales of real estate, net 60,498 21,312 — 4,653 — 86,463 Other income (expense), net 7 2,697 228 (81) 3,957 6,808 Less: Government grant income — — (184) — — (184) Less: Healthpeak’s share of unconsolidated joint venture NOI (5,832) (1,844) — (21,844) — (29,520) Plus: Noncontrolling interests’ share of consolidated joint venture NOI 463 25,152 — — — 25,615 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 380,519 215,783 (26,587) 31,954 (286,733) 314,936 Income tax benefit (expense) — — — — 9,617 9,617 Equity income (loss) from unconsolidated joint ventures 4,540 835 — 4,829 — 10,204 Income (loss) from continuing operations 385,059 216,618 (26,587) 36,783 (277,116) 334,757 Income (loss) from discontinued operations — — — — — — Net income (loss) $ 385,059 $ 216,618 $ (26,587) $ 36,783 $ (277,116) $ 334,757 _______________________________________ (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, 2022: Lab Outpatient Medical 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 and merger-related 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: Lab Outpatient Medical 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 and merger-related 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.
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 2023 2022 Lab $ 9,313,395 $ 9,019,271 Outpatient medical 6,376,191 6,291,986 CCRC 2,369,883 2,276,898 Reportable segment assets 18,059,469 17,588,155 Accumulated depreciation and amortization (4,017,023) (3,540,362) Net reportable segment assets 14,042,446 14,047,793 Other non-reportable segment assets 553,031 744,550 Assets held for sale, net 117,986 49,866 Other non-segment assets 985,387 929,020 Total assets $ 15,698,850 $ 15,771,229

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Ordinary dividends (1) $ 0.909692 $ 0.872948 $ 0.152336 Capital gains (2)(3) 0.116992 0.183208 0.379960 Nondividend distributions 0.173316 0.143844 0.667704 $ 1.200000 $ 1.200000 $ 1.200000 _______________________________________ (1) For the year ended December 31, 2023, the amount includes $0.882312 of ordinary dividends qualified as business income for purposes of Code Section 199A and $0.027380 of qualified dividend income for purposes of Code Section 1(h)(11). 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). (2) For the years ended December 31, 2023, 2022, and 2021, the amount includes $0.036256, $0.017760, and $0.379960, respectively, of unrecaptured Code 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, 2023, the “One Year Amounts” and “Three Year Amounts” are each zero, since all capital gains relate to Code Section 1231 gains. For the year ended December 31, 2022, the “One Year Amounts” and “Three Year Amounts” are each 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 year ended December 31, 2021, 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, 2023, 2022, and 2021, 100%, 10.3292%, 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, 2023 2022 2021 Current Federal $ (1,663) $ (632) $ (126) State (3,325) (689) (1,003) Total current $ (4,988) $ (1,321) $ (1,129) Deferred Federal $ 11,682 $ 3,157 $ 3,469 State 2,923 2,589 921 Total deferred $ 14,605 $ 5,746 $ 4,390 Total income tax benefit (expense) from continuing operations $ 9,617 $ 4,425 $ 3,261
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, 2023 2022 2021 Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax $ (1,404) $ 3,698 $ 3,345 State income tax benefit (expense), net of federal tax (1,035) 911 706 Gross receipts and margin taxes (1,647) (956) (989) Return to provision adjustments (90) 1,260 (4) Change in valuation allowance for deferred tax assets 13,797 194 203 Change in tax status of TRS (4) (682) — Total income tax benefit (expense) from continuing operations $ 9,617 $ 4,425 $ 3,261
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, 2023 2022 2021 Deferred tax assets: Deferred revenue $ 103,530 $ 102,504 $ 104,397 Net operating loss carryforward 54,136 62,280 71,744 Expense accruals 12,324 12,399 14,229 Real estate 850 150 129 Other 58 689 — Total deferred tax assets 170,898 178,022 190,499 Valuation allowance (13,004) (26,098) (35,772) Deferred tax assets, net of valuation allowance $ 157,894 $ 151,924 $ 154,727 Deferred tax liabilities: Real estate $ 43,488 $ 52,266 $ 61,097 Other 818 674 648 Deferred tax liabilities $ 44,306 $ 52,940 $ 61,745 Net deferred tax assets $ 113,588 $ 98,984 $ 92,982
Schedule of Income Tax Contingencies	The following table summarizes the Company’s unrecognized tax benefits (in thousands): December 31, 2023 2022 2021 Total unrecognized tax benefits at January 1 $ — $ 469 $ 469 Gross amount of decreases for prior years’ tax positions — (469) — Total unrecognized tax benefits at December 31 $ — $ — $ 469

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Supplemental cash flow information: Interest paid, net of capitalized interest $ 188,213 $ 162,115 $ 173,044 Income taxes paid (refunded) 1,923 (1,903) 4,521 Capitalized interest 56,849 41,046 24,084 Cash paid for amounts included in the measurement of lease liability for operating leases 21,488 12,594 10,620 Supplemental schedule of non-cash investing and financing activities: Increase in ROU asset in exchange for new lease liability related to operating leases 3,951 9,454 28,866 Decrease in ROU asset with corresponding change in lease liability related to operating leases — — 8,410 Accrued construction costs 105,572 178,626 179,995 Net noncash impact from the consolidation of property previously held in an unconsolidated joint venture 993 — — Retained investment in connection with South San Francisco JVs transaction — 293,265 — Seller financing provided on disposition of real estate asset — — 559,745 Carrying value of mortgages assumed by buyer in real estate dispositions — — 143,676 Year Ended December 31, 2023 2022 2021 Leasing costs, tenant improvements, and recurring capital expenditures $ — $ 21 $ 2,636 Development, redevelopment, and other major improvements of real estate — 18 5,780 Depreciation and amortization of real estate, in-place lease, and other intangibles — — —
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table summarizes cash, cash equivalents, and restricted cash (in thousands): Year Ended December 31, 2023 2022 2021 2023 2022 2021 2023 2022 2021 Continuing operations Discontinued operations Total Beginning 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 End of year: Cash and cash equivalents $ 117,635 $ 72,032 $ 158,287 $ — $ — $ 7,707 $ 117,635 $ 72,032 $ 165,994 Restricted cash 51,388 54,802 53,454 — — — 51,388 54,802 53,454 Cash, cash equivalents, and restricted cash $ 169,023 $ 126,834 $ 211,741 $ — $ — $ 7,707 $ 169,023 $ 126,834 $ 219,448

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 was as follows (in thousands): VIE Type Asset Type Maximum Loss Exposure and Carrying Amount (1) LLC Investment Other assets, net $ 14,985 Needham Land Parcel JV Investments in and advances to unconsolidated joint ventures 17,084 _______________________________________ (1)
Schedule of Consolidated Assets and Liabilities of Variable Interest Entities	Total assets and total liabilities include VIE assets and liabilities, excluding those of Healthpeak OP, as follows (in thousands): December 31, 2023 2022 Assets Buildings and improvements $ 2,392,375 $ 2,356,905 Development costs and construction in progress 47,481 58,499 Land and improvements 307,166 324,714 Accumulated depreciation and amortization (665,791) (623,244) Net real estate 2,081,231 2,116,874 Accounts receivable, net 5,906 6,893 Cash and cash equivalents 18,410 20,586 Restricted cash 613 354 Intangible assets, net 56,975 73,860 Assets held for sale, net — 30,355 Right-of-use asset, net 97,575 99,376 Other assets, net 79,248 73,690 Total assets $ 2,339,958 $ 2,421,988 Liabilities Mortgage debt $ 144,874 $ 144,604 Intangible liabilities, net 11,884 15,066 Liabilities related to assets held for sale, net — 401 Lease liability 99,725 99,039 Accounts payable, accrued liabilities, and other liabilities 54,975 68,979 Deferred revenue 48,316 39,661 Total liabilities $ 359,774 $ 367,750 Total assets and total liabilities related to assets held for sale include VIE assets and liabilities, excluding those of Healthpeak OP, as follows (in thousands): December 31, 2023 2022 Assets Buildings and improvements $ — $ 39,934 Land and improvements — 1,926 Accumulated depreciation and amortization — (15,612) Net real estate — 26,248 Intangible assets, net — 215 Other assets, net — 3,892 Total assets $ — $ 30,355 Liabilities Deferred revenue — 401 Total liabilities $ — $ 401

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2023
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 discontinued operations: Percentage of Total Company Assets Percentage of Total Company Revenues December 31, Year Ended December 31, State 2023 2022 2023 2022 2021 California 38 37 31 31 28 Florida 10 10 18 18 17 Texas 10 10 11 11 11 Massachusetts 17 17 11 10 9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
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 either recorded or disclosed on a recurring basis (in thousands): December 31, 2023 (3) 2022 (3) Carrying Value Fair Value Carrying Value Fair Value Loans receivable, net (2) $ 218,450 $ 218,450 $ 374,832 $ 369,425 Marketable debt securities (2) — — 21,702 21,702 Interest rate swap instruments (2) 21,359 21,359 30,259 30,259 Bank line of credit and commercial paper (2) 720,000 720,000 995,606 995,606 Term loans (2) 496,824 496,824 495,957 495,957 Senior unsecured notes (1) 5,403,378 5,144,667 4,659,451 4,238,124 Mortgage debt (2) 256,097 244,135 346,599 330,867 _______________________________________ (1) Level 1: Fair value is calculated based on quoted prices in active markets. (2) Level 2: Fair value is based on (i) for loans receivable, net, interest rate swap instruments, and mortgage debt, standardized pricing models in which significant inputs or value drivers are observable in active markets, respectively, or (ii) for marketable debt securities, quoted prices for similar or identical instruments in active or inactive 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, 2023 and 2022, 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, 2023
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 (2) Date Entered Maturity Date Hedge Designation Notional Amount Pay Rate (1) Receive Rate (1) December 31, December 31, April 2022 (3) May 2026 Cash flow $ 51,100 4.99 % USD-SOFR w/ -5 Day Lookback + 2.50% $ 1,602 $ 2,300 April 2022 (3) May 2026 Cash flow 91,000 4.54 % USD-SOFR w/ -5 Day Lookback + 2.05% 2,851 4,096 August 2022 (3) February 2027 Cash flow 250,000 2.60 % 1 mo. USD-SOFR CME Term 7,933 11,299 August 2022 (3) August 2027 Cash flow 250,000 2.54 % 1 mo. USD-SOFR CME Term 8,973 12,564 _____________________________ (1) Pay rates and receive rates are as of December 31, 2023. As of December 31, 2022, the interest rate swap instrument with a $51 million notional amount had a pay rate of 5.08% and a receive rate of 1 mo. USD-LIBOR-BBA + 2.50%. As of December 31, 2022, the interest rate swap instrument with a $91 million notional amount had a pay rate of 4.63% and a receive rate of 1 mo. USD-LIBOR-BBA + 2.05%. (2) At each of December 31, 2023 and 2022, the interest rate swap instruments were in an asset position. Derivative assets are recorded at fair value in other assets, net on the Consolidated Balance Sheets. (3) 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.

Accounts Payable, Accrued Lia_2

Accounts Payable, Accrued Liabilities, and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
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 (in thousands): December 31, 2023 2022 Refundable entrance fees $ 251,874 $ 268,972 Accrued construction costs 105,572 178,626 Accrued interest 59,492 59,291 Other accounts payable and accrued liabilities 240,258 265,596 Accounts payable, accrued liabilities, and other liabilities $ 657,196 $ 772,485

Deferred Revenue (Tables)

Deferred Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
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 (in thousands): December 31, 2023 2022 Nonrefundable entrance fees (1) $ 562,026 $ 518,573 Other deferred revenue (2) 343,607 325,503 Deferred revenue $ 905,633 $ 844,076 _______________________________________ (1) During the years ended December 31, 2023 and 2022, the Company collected nonrefundable entrance fees of $127 million and $101 million, respectively. During the years ended December 31, 2023, 2022, and 2021, the Company recognized amortization of $83 million, $79 million, and $76 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, 2023, 2022, and 2021, the Company recognized amortization related to other deferred revenue of $68 million, $44 million, and $39 million, respectively, which is included in rental and related revenues on the Consolidated Statements of Operations.

Business (Details)

Business (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Transaction and merger-related costs		$ 17,515	$ 4,853	$ 1,841
The Merger Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Exchange ratio (in shares)	0.674
Transaction and merger-related costs		22,000
Merger related costs		$ 11,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	$ 8,000,000	$ 8,000,000	$ 11,000,000
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Advertising expense	$ 0	$ 100,000	$ 3,000,000
Building and Building Improvements
Schedule of Equity Method Investments [Line Items]
Property, plant and equipment, useful life	50 years

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Government grant income	$ 413	$ 7,860	$ 6,830
Government grant income recorded in other income (expense), net
Schedule of Equity Method Investments [Line Items]
Government grant income	184	6,765	1,412
Government grant income recorded in equity income (loss) from unconsolidated joint ventures
Schedule of Equity Method Investments [Line Items]
Government grant income	229	878	1,749
Government grant income recorded in income (loss) from discontinued operations
Schedule of Equity Method Investments [Line Items]
Government grant income	$ 0	$ 217	$ 3,669

Real Estate - 2023 Real Estate

Real Estate - 2023 Real Estate Investment Acquisitions (Details) $ in Millions	1 Months Ended						12 Months Ended
	Apr. 30, 2023 USD ($) property	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 property
HCP Ventures IV, LLC
Real Estate [Line Items]
Investment ownership percentage	80%							20%
Property count | property	1
Payments to acquire equity method investments	$ 4
Gain on investments	$ 0.2
Lab
Real Estate [Line Items]
Property count | property								2
Massachusetts | Lab
Real Estate [Line Items]
Payments to acquire real estate		$ 9	$ 18			$ 72	$ 498
California | Lab
Real Estate [Line Items]
Payments to acquire real estate						$ 24	$ 20
Texas | Outpatient medical
Real Estate [Line Items]
Payments to acquire real estate					$ 43
ARKANSAS | Outpatient medical
Real Estate [Line Items]
Payments to acquire real estate				$ 26

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 ($)	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($) property	Mar. 31, 2022 USD ($) property	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) property
Massachusetts | Lab
Real Estate [Line Items]
Payments to acquire real estate | $	$ 9	$ 18			$ 72	$ 498
Number of properties acquired | property						8
California | Lab
Real Estate [Line Items]
Payments to acquire real estate | $					$ 24	$ 20
Number of properties acquired | property						1
Texas | Outpatient medical
Real Estate [Line Items]
Payments to acquire real estate | $				$ 43
Number of properties acquired | property				2
ARKANSAS | Outpatient medical
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
	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) a property	Dec. 31, 2023 USD ($)	Apr. 30, 2021 USD ($)
Lab | MASSACHUSETTS
Real Estate [Line Items]
Number of properties acquired | property				8
Payments to acquire real estate	$ 9	$ 18	$ 72	$ 498
Lab | CALIFORNIA
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate			$ 24	$ 20
Lab | CALIFORNIA | South San Francisco, California
Real Estate [Line Items]
Payments to acquire real estate				$ 128
Area of land | a				12
Outpatient Medical | Mortgage Debt
Real Estate [Line Items]
Face amount					$ 142	$ 142
Outpatient Medical | MASSACHUSETTS
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 55
Outpatient Medical | TENNESSEE
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 13
Outpatient Medical | COLORADO
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 38
Outpatient Medical | UNITED STATES
Real Estate [Line Items]
Number of properties acquired | property				14
Payments to acquire real estate				$ 371
Outpatient Medical | FLORIDA
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 16
Outpatient Medical | KANSAS
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 50
Outpatient Medical | NEW JERSEY
Real Estate [Line Items]
Number of properties acquired | property				3
Payments to acquire real estate				$ 155
Outpatient Medical | TEXAS
Real Estate [Line Items]
Number of properties acquired | property				2
Payments to acquire real estate				$ 60
Outpatient Medical | WASHINGTON
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 43
Outpatient Medical | LOUISIANA
Real Estate [Line Items]
Number of properties acquired | property				1
Payments to acquire real estate				$ 34

Real Estate - Construction, Ten

Real Estate - Construction, Tenant, and Other Capital Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 774,561	$ 961,994	$ 759,720
Lab
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	428,961	658,542	472,301
Outpatient Medical
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	236,135	237,761	230,227
CCRC
Real estate acquisitions [Line Items]
Funding for construction, tenant and other capital improvements	$ 109,465	$ 65,691	$ 57,192

Dispositions of Real Estate a_3

Dispositions of Real Estate and Discontinued Operations - 2023 Dispositions of Real Estate (Details) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2023 USD ($) property	Sep. 30, 2022 USD ($) property	Jun. 30, 2022 USD ($) property	Mar. 31, 2022 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					$ 86,463	$ 9,078	$ 190,590
Lab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property	2			1
Proceeds from sale of buildings	$ 113,000			$ 14,000
Gain (loss) on sales of real estate, net	$ 60,000			$ 4,000
Outpatient Medical
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of assets sold | property	2	2	3
Proceeds from sale of buildings	$ 32,000	$ 9,000	$ 27,000
Gain (loss) on sales of real estate, net	$ 21,000	$ 1,000	$ 10,000

Dispositions of Real Estate a_4

Dispositions of Real Estate and Discontinued Operations - 2022 Dispositions of Real Estate (Details) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2023 USD ($) property	Sep. 30, 2022 USD ($) property	Jun. 30, 2022 USD ($) property	Mar. 31, 2022 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sales of real estate, net					$ 86,463	$ 9,078	$ 190,590
Lab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property	2			1
Proceeds from sale of buildings	$ 113,000			$ 14,000
Gain (loss) on sales of real estate, net	$ 60,000			$ 4,000
Outpatient Medical
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property	2	2	3
Proceeds from sale of buildings	$ 32,000	$ 9,000	$ 27,000
Gain (loss) on sales of real estate, net	$ 21,000	$ 1,000	$ 10,000
Outpatient Medical Land Parcel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property			1

Dispositions of Real Estate a_5

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

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 30, 2021 loan

Jun. 30, 2021 USD ($) property

May 31, 2021 USD ($) property

Apr. 30, 2021 USD ($) property loan preferred_equity_investment

Feb. 28, 2021 USD ($) property

Jan. 31, 2021 USD ($) property

Mar. 31, 2023 USD ($) property

Sep. 30, 2022 USD ($) property

Jun. 30, 2022 USD ($) property

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($) property

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

Gain (loss) on sales of real estate, net

$ 86,463,000

$ 9,078,000

$ 190,590,000

Carrying value of mortgages assumed by buyer in real estate dispositions

0

$ 0

143,676,000

Number of loans sold | loan

1

2

Sunrise Senior Housing Portfolio

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

Capital expenditure funding, amount committed

$ 40,000,000

Mortgage Debt

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

Repayments of secured debt

$ 64,000,000

Number of assets classified as discontinued operations | property

6

2

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

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

Senior Housing Operating Portfolio

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

Capital expenditure funding, amount committed

$ 92,000,000

Senior Housing Operating Portfolio

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

Proceeds from sale of buildings

230,000,000

Payments to acquire finance receivables

150,000,000

Gain (loss) on sales of real estate, net

59,000,000

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

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]

Proceeds from sale of buildings

$ 24,000,000

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

Proceeds from sale of buildings

$ 664,000,000

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

Proceeds from sale of buildings

$ 664,000,000

Payments to acquire finance receivables

$ 410,000,000

Senior Housing Operating Portfolio | Oakmont SHOP Portfolio

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

Number of assets sold | property

12

Senior Housing Operating Portfolio | Discovery SHOP Portfolio

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

Number of assets sold | property

10

Gain (loss) on sales of real estate, net

$ 0

Number of preferred equity method investments sold | preferred_equity_investment

2

Senior Housing Operating Portfolio | Discovery SHOP Portfolio | Mezzanine

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

Number of loans sold | loan

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

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 properties disposed | 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

Outpatient Medical

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

Number of assets sold | property

2

2

3

Proceeds from sale of buildings

$ 32,000,000

$ 9,000,000

$ 27,000,000

Gain (loss) on sales of real estate, net

$ 21,000,000

$ 1,000,000

$ 10,000,000

Outpatient Medical | Other Investments

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

Number of assets sold | property

10

Outpatient Medical Land Parcel

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

Number of assets sold | property

1

Outpatient Medical Land Parcel | 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

$ 68,000,000

Dispositions of Real Estate a_6

Dispositions of Real Estate and Discontinued Operations - Held for Sale and Discontinued Operations (Details)	Jan. 31, 2024 property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net		$ 117,986,000	$ 49,866,000
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net		118,000,000	50,000,000
Liabilities related to assets held for sale, net		1,000,000	4,000,000
Liabilities related to assets held for sale, net		0	0
Assets held for sale, net		$ 0	$ 0
Held-for-sale | Lab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property		2	2
Net real estate assets			$ 44,000,000
Held-for-sale | Outpatient Medical
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property		1
Discontinued Operations, Disposed of by Sale | Lab | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property	2
Discontinued Operations, Disposed of by Sale | Lab | Subsequent Event | Lab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment ownership percentage	65%

Dispositions of Real Estate a_7

Dispositions of Real Estate and Discontinued Operations - Schedule of Results of Discontinued Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other income (expense):
Income tax benefit (expense)	$ 0	$ 300,000	$ 1,000,000
Held-for-sale
Revenues:
Rental and related revenues	0	0	7,535,000
Resident fees and services	0	7,489,000	114,936,000
Total revenues	0	7,489,000	122,471,000
Costs and expenses:
Interest expense	0	0	3,900,000
Operating	0	6,452,000	122,571,000
Transaction and merger-related costs	0	0	76,000
Impairments and loan loss reserves (recoveries), net	0	0	32,736,000
Total costs and expenses	0	6,452,000	159,283,000
Other income (expense):
Gain (loss) on sales of real estate, net	0	1,344,000	414,721,000
Other income (expense), net	0	169,000	4,189,000
Total other income (expense), net	0	1,513,000	418,910,000
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	0	2,550,000	382,098,000
Income tax benefit (expense)	0	270,000	969,000
Equity income (loss) from unconsolidated joint ventures	0	64,000	5,135,000
Income (loss) from discontinued operations	$ 0	$ 2,884,000	$ 388,202,000

Impairments of Real Estate (Det

Impairments of Real Estate (Details)	3 Months Ended			12 Months Ended
	Dec. 31, 2021 USD ($) property	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate				$ 0	$ 0
Net real estate				13,028,363,000	13,023,483,000
Goodwill, impairment loss				0	0	$ 0
Goodwill				18,000,000	18,000,000
Insured event loss				3,085,000	(7,168,000)	(1,632,000)
Casualty-Related Losses
Impaired Long-Lived Assets Held and Used [Line Items]
Insured event loss				(3,000,000)	6,000,000	5,000,000
Casualty-Related Losses | Rental Revenues And Resident Fees And Services
Impaired Long-Lived Assets Held and Used [Line Items]
Insured event loss				$ 4,000,000	3,000,000	$ 0
SWF SH JV and Winter Storm Uri
Impaired Long-Lived Assets Held and Used [Line Items]
Property count | property	1					1
Planned MOB Demolition, Tenant Relocation And Other Costs
Impaired Long-Lived Assets Held and Used [Line Items]
Expense on other					$ 14,000,000
Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss		$ 22,000,000	$ 7,000,000			$ 29,000,000
Goodwill	$ 0					0
Outpatient Medical
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate						$ 22,000,000
Number of real estate properties impaired | property						3
Property count | property	4				3	4
Outpatient Medical | Held-for-use
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property						1
Outpatient Medical | Held-for-use | Impairments 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate	$ 17,000,000
Outpatient Medical | Held-for-sale
Impaired Long-Lived Assets Held and Used [Line Items]
Number of real estate properties impaired | property						3
Outpatient Medical | Held-for-sale | Impairments 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of real estate						$ 5,000,000
Net real estate	14,000,000					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
Senior Housing Operating Portfolio | Impairments 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Aggregate carrying value before impairment	20,000,000					$ 20,000,000
Real estate held-for-sale	$ 16,000,000					$ 16,000,000

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Fixed income from operating leases	$ 1,236,502	$ 1,182,463	$ 1,087,683
Variable income from operating leases	395,303	359,312	290,701
Interest income from direct financing leases	$ 0	$ 1,168	$ 8,702

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)	Dec. 31, 2023 property	Dec. 31, 2022 property
Leases [Abstract]
Proceeds from sale of lease receivables	$ 68
Gain on sale of direct financing lease	$ 23
Properties with direct financing leases, number | property		0	0

Leases - Future Minimum Rents (

Leases - Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 1,135,628
2025	1,063,147
2026	975,246
2027	888,223
2028	788,742
Thereafter	2,818,655
Total	$ 7,669,641

Leases - Tenant Purchase Option

Leases - Tenant Purchase Options (Details) $ in Thousands	Dec. 31, 2023 USD ($) property
Leases [Abstract]
2024 | $	$ 14,199
2025 | $	14,244
2026 | $	16,422
2027 | $	8,116
2028 | $	1,252
Thereafter | $	16,212
Total | $	$ 70,445
Number of Properties
2024 | property	12
2025 | property	16
2026 | property	8
2027 | property	5
2028 | property	1
Thereafter | property	5
Total | property	47

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Total lease expense	$ 17,010	$ 16,689	$ 14,442
Weighted average remaining lease term (years)	51 years	51 years
Weighted average discount rate, operating leases	4.23%	4.20%
Option to extend lease, term	67 years	67 years

Leases - Future Lease Obligatio

Leases - Future Lease Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 16,950
2025	12,399
2026	12,326
2027	12,321
2028	12,351
Thereafter	475,584
Undiscounted minimum lease payments included in the lease liability	541,931
Less: imputed interest	(335,188)
Present value of lease liability	$ 206,743

Leases - Depreciation Expense (

Leases - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
General and Administrative Expense
Lessor, Lease, Description [Line Items]
Depreciation expense related to corporate assets	$ 3	$ 3	$ 2
Other Assets
Lessor, Lease, Description [Line Items]
Accumulated depreciation related to corporate assets	$ 10	$ 10

Leases - Denver Office Relocati

Leases - Denver Office Relocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessor, Lease, Description [Line Items]
General and administrative	$ 95,132	$ 131,033	$ 98,303
Corporate Segment | Continuing Operations
Lessor, Lease, Description [Line Items]
General and administrative		$ 7,000

Leases - Tenant Updates (Detail

Leases - Tenant Updates (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Oct. 26, 2023 USD ($) lease	Dec. 31, 2023 lease	Mar. 31, 2023 USD ($) lease	Dec. 31, 2023 USD ($) lease	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Lessor, Lease, Description [Line Items]
Straight line rent				$ 14,387	$ 49,183	$ 31,188
Litigation settlement, amount awarded from other party			$ 4,000
Cash paid for amounts included in the measurement of lease liability for operating leases				$ 21,488	$ 12,594	$ 10,620
Sorrento Therapeutics, Inc.
Lessor, Lease, Description [Line Items]
Straight line rent			$ 9,000
Number of leases | lease			4
Number of leases approved | lease		3
Number of lease terminated | lease				4
Graphite Bio, Inc
Lessor, Lease, Description [Line Items]
Number of leases | lease	1
Cash paid for amounts included in the measurement of lease liability for operating leases	$ 37,000
Termination fees	21,000
Prepayment of rent	16,000
Rent adjustments	$ 37,000

Loans Receivable - Schedule of

Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Unamortized discounts and fees	$ (131)	$ (808)
Reserve for loan losses	(2,830)	(8,280)	$ (1,813)
Loans receivable, net	218,450	374,832
Remaining loans receivable commitments	29,000	40,000
Interest income	21,781	23,300	37,773
Mortgage Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	175,717
Interest income	22,000	22,000	36,000
Secured loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	178,678	350,837
Reserve for loan losses	(2,830)	(8,280)	$ (1,804)
CCRC resident loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, gross	$ 42,733	$ 33,083

Loans Receivable - Sunrise Seni

Loans Receivable - Sunrise Senior Housing Portfolio Seller Financing and Other Seller Financing (Details) $ in Thousands	1 Months Ended								12 Months Ended
	Jan. 31, 2024 USD ($)	Jun. 30, 2023	Feb. 28, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jan. 31, 2021 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loans receivable
Net cash provided by (used in) financing activities									$ (337,299)	$ (116,532)	$ (1,288,517)
Loans receivable				$ 374,832					218,450	374,832
Sunrise Senior Housing Portfolio
Loans receivable
Capital expenditure funding, amount committed									40,000
Capital expenditure funding, amount funded									11,000
Senior Housing Operating Portfolio
Loans receivable
Proceeds from sale of buildings								$ 230,000
Net cash provided by (used in) financing activities								150,000
Senior Housing Operating Portfolio
Loans receivable
Net cash provided by (used in) financing activities								410,000
Senior Housing Operating Portfolio | Sunrise Senior Housing Portfolio
Loans receivable
Capital expenditure funding, amount committed								$ 92,000
Capital expenditure funding, cost of capital, percent committed								65%
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				10,000	$ 27,000	$ 8,000	$ 246,000
Loans receivable				120,000					131,000	120,000
Senior Housing Operating Portfolio | Secured Overnight Financing Rate (SOFR) | Sunrise Senior Housing Portfolio
Loans receivable
Loans receivable, conversion of basis spread on variable rate		0.10%
Secured Mortgage Loans
Loans receivable
Proceeds from the collection of loans receivable			$ 102,000
Loans receivable							$ 53,000
Secured Mortgage Loans | Subsequent Event
Loans receivable
Loans receivable, floor rate percentage	12%
Loans receivable, extension fee	$ 1,000
Secured Mortgage Loans | Senior Housing Operating Portfolio
Loans receivable
Loans receivable				$ 150,000					$ 48,000	$ 150,000
Secured Mortgage Loans | Secured Overnight Financing Rate (SOFR)
Loans receivable
Variable rate			0.11%
Secured Mortgage Loans | Secured Overnight Financing Rate (SOFR) | Subsequent Event
Loans receivable
Loans receivable, floor rate percentage	7%
Loans receivable, conversion of basis spread on variable rate	0.11%
Secured Mortgage Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, First Six Months
Loans receivable
Variable rate			6%
Secured Mortgage Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, Last Six Months
Loans receivable
Variable rate			7%
Loans receivable, extension fee			$ 1,000

Loans Receivable - 2023 Loans R

Loans Receivable - 2023 Loans Receivable Transactions (Details) $ in Millions	1 Months Ended
	Oct. 31, 2023 USD ($)	May 31, 2023 USD ($) loan	Apr. 30, 2023 USD ($) loan	Feb. 28, 2023 USD ($) loan	Dec. 31, 2022 loan	Nov. 30, 2022 loan	May 31, 2022 loan	Sep. 30, 2021 USD ($)	Jul. 31, 2021 USD ($)	May 31, 2021 loan
Secured Mortgage Loans
Loans Receivable:
Proceeds from the collection of loans receivable				$ 102
Other | Secured Mortgage Loans
Loans Receivable:
Secured loan | loan		1	1	1	4	1	1			1
Proceeds from the collection of loans receivable	$ 21	$ 21	$ 14	$ 35				$ 15	$ 8
Other | Secured Mortgage Loans | Secured Overnight Financing Rate (SOFR)
Loans Receivable:
Loans receivable, conversion of basis spread on variable rate		0.10%			0.11%
Other | Secured Mortgage Loans 1
Loans Receivable:
Secured loan | loan		2
Proceeds from the collection of loans receivable		$ 12

Loans Receivable - 2022 Loans R

Loans Receivable - 2022 Loans Receivable Transactions (Details) - Secured Mortgage Loans $ in Millions	1 Months Ended
	May 31, 2023 loan	Apr. 30, 2023 loan	Feb. 28, 2023 loan	Dec. 31, 2022 USD ($) loan	Nov. 30, 2022 USD ($) loan	May 31, 2022 USD ($) loan	May 31, 2021 USD ($) loan
Other
Loans Receivable:
Secured loan | loan	1	1	1	4	1	1	1
Principal repayments received					$ 1	$ 2	$ 10
Outstanding balance				$ 61
Loans receivable, term				1 year
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, First Six Months
Loans Receivable:
Variable rate			6%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, First Six Months | Other
Loans Receivable:
Variable rate				8.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, Last Six Months
Loans Receivable:
Variable rate			7%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate, Last Six Months | Other
Loans Receivable:
Variable rate				10.50%

Loans Receivable - 2021 Loans R

Loans Receivable - 2021 Loans Receivable Transactions (Details) $ in Thousands	1 Months Ended												3 Months Ended		12 Months Ended
	Oct. 31, 2023 USD ($)	May 31, 2023 USD ($) loan	Apr. 30, 2023 USD ($) loan	Feb. 28, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan	Nov. 30, 2022 USD ($) loan	May 31, 2022 USD ($) loan	Nov. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) loan	Jul. 31, 2021 USD ($)	May 31, 2021 USD ($) loan	Apr. 30, 2021 loan	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($) loan	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)
Loans Receivable:
Loans receivable					$ 374,832											$ 218,450
Reserve for loans receivable					$ 8,280										$ 1,813	$ 2,830
Loss on sale of direct financing lease													$ (23,000)
Number of loans sold | loan									1			2
Proceeds from sale of receivables									$ 2,000
Secured Mortgage Loans
Loans Receivable:
Number of loans | loan														2
Total														$ 64,000
Decrease in financing receivable														11,000
Loans receivable														53,000
Reserve for loans receivable														$ 8,000
Loss on sale of direct financing lease															$ 3,000
Proceeds from sale of receivables								$ 51,000
Proceeds from the collection of loans receivable				$ 102,000
Secured Mortgage Loans | Other
Loans Receivable:
Principal repayments received						$ 1,000	$ 2,000				$ 10,000
Secured loan | loan		1	1	1	4	1	1				1
Proceeds from the collection of loans receivable	$ 21,000	$ 21,000	$ 14,000	$ 35,000					$ 15,000	$ 8,000

Loans Receivable - CCRC Residen

Loans Receivable - CCRC Resident Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans Receivable:
Loans receivable	$ 218,450	$ 374,832
Brookedale MTCA | CCRC JV Investment | Other non-reportable
Loans Receivable:
Loans receivable	$ 43,000	$ 33,000

Loans Receivable - Schedule o_2

Loans Receivable - Schedule of Loans Receivable by Origination Year (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Secured Mortgage Loans
Loans receivable
2023	$ 0
2022	0
2021	175,717
2020	0
2019	0
Prior	0
Total	175,717
CCRC resident loans
Loans receivable
2023	42,132
2022	601
2021	0
2020	0
2019	0
Prior	0
Total	42,733
Performing loans | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	175,717
2020	0
2019	0
Prior	0
Total	175,717
Performing loans | CCRC resident loans
Loans receivable
2023	42,132
2022	601
2021	0
2020	0
2019	0
Prior	0
Total	42,733
Watch list loans | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Watch list loans | CCRC resident loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Workout loans | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Workout loans | CCRC resident loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Current period gross write-offs | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Current period gross write-offs | CCRC resident loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total
Current period recoveries | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Current period recoveries | CCRC resident loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total
Current period net write-offs | Secured Mortgage Loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total	0
Current period net write-offs | CCRC resident loans
Loans receivable
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Total

Loans Receivable - Loan Losses

Loans Receivable - Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period	$ 8,280	$ 1,813
Provision for expected loan losses	2,088	6,534
Expected loan losses related to loans sold or repaid	(7,538)	(67)
Reserve for loan losses, end of period	2,830	8,280
Credit loss reserve on unfunded loan commitments	700	800
Secured Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period	8,280	1,804
Provision for expected loan losses	2,088	6,527
Expected loan losses related to loans sold or repaid	(7,538)	(51)
Reserve for loan losses, end of period	2,830	8,280
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Reserve for loan losses, beginning of period	0	9
Provision for expected loan losses	0	7
Expected loan losses related to loans sold or repaid	0	(16)
Reserve for loan losses, end of period	$ 0	$ 0

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
	Apr. 30, 2023 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2023 USD ($) property joint_venture	Dec. 31, 2022 USD ($) property
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures | $			$ 782,853	$ 706,677
Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Property count	2
Number of unconsolidated joint ventures | joint_venture			2
HCP Ventures IV, LLC
Schedule of Equity Method Investments [Line Items]
Property count	1
Investment ownership percentage	80%		20%
Payments to acquire equity method investments | $	$ 4,000
Suburban Properties, LLC
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage			67%
Lab
Schedule of Equity Method Investments [Line Items]
Property count			2
Lab | South San Francisco JVs
Schedule of Equity Method Investments [Line Items]
Property count			7
Investment ownership percentage			70%
Equity method investments | $			$ 393,374	309,969
Number of unconsolidated joint ventures | joint_venture			7
Lab | Lab JV
Schedule of Equity Method Investments [Line Items]
Property count			1
Investment ownership percentage			49%
Equity method investments | $			$ 31,761	26,601
Lab | Needham Land Parcel JV
Schedule of Equity Method Investments [Line Items]
Property count			0
Investment ownership percentage		38%	38%
Equity method investments | $			$ 17,084	15,391
Payments to acquire equity method investments | $		$ 13,000
Other non-reportable | SWF SH JV
Schedule of Equity Method Investments [Line Items]
Property count			19
Investment ownership percentage			54%
Equity method investments | $			$ 332,693	$ 345,978
Outpatient medical
Schedule of Equity Method Investments [Line Items]
Property count		4		3
Outpatient medical | Medical Office JVs
Schedule of Equity Method Investments [Line Items]
Property count			2
Equity method investments | $			$ 7,941	$ 8,738
Outpatient medical | Medical Office JVs | Minimum
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage			20%
Outpatient medical | 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 ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Difference between carrying amount and underlying equity		$ 49	$ 41
Gain (loss) on deconsolidation			$ 311
Lab
Schedule of Equity Method Investments [Line Items]
Property count | property		2
Life Science Joint Venture In San Francisco, California | Lab
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	70%
Property count | property	7
Callan Ridge Joint Venture
Schedule of Equity Method Investments [Line Items]
Proceeds from nonrefundable deposit		$ 8
Callan Ridge Joint Venture | Lab
Schedule of Equity Method Investments [Line Items]
Property count | property		2
Life Science Joint Venture In San Francisco, California | Life Science Joint Venture In San Francisco, California | Lab
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	30%
Cash proceeds	$ 126
Callan Ridge Joint Venture | Callan Ridge Joint Venture | Lab
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage		65%
Cash proceeds		$ 128
Equity method investments		$ 110

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangibles Lease Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Intangibles [Abstract]
Gross intangible lease assets	$ 739,228	$ 770,285
Accumulated depreciation and amortization	(425,072)	(352,224)
Intangible assets, net	$ 314,156	$ 418,061
Weighted average remaining amortization period in years	5 years	5 years
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 314,156	$ 418,061
Discontinued Operations, Held-for-sale or Disposed of by Sale
Intangibles [Abstract]
Intangible assets, net	2,000
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 2,000

Intangibles - Schedule of Int_2

Intangibles - Schedule of Intangible Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Intangibles [Abstract]
Gross intangible lease liabilities	$ 228,105	$ 237,464
Accumulated depreciation and amortization	(100,725)	(81,271)
Intangible liabilities, net	$ 127,380	$ 156,193
Weighted average remaining amortization period in years	7 years	7 years

Intangibles - Amortization of D

Intangibles - Amortization of Deferred Leasing Costs and Acquisition Related Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangibles [Abstract]
Depreciation and amortization expense related to amortization of lease-up intangibles	$ 102,249	$ 104,885	$ 106,106
Rental and related revenues related to amortization of net below market lease liabilities	$ 27,012	$ 24,640	$ 20,597

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period in years			5 years	5 years
Weighted average remaining amortization period in years			7 years	7 years
Goodwill			$ 18,000,000	$ 18,000,000
Goodwill, impairment loss			0	0	$ 0
Other Property
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			$ 500,000	7,000,000
Intangible liabilities acquired				$ 6,000,000
Weighted average remaining amortization period in years			5 years	7 years
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

Intangibles - Estimated Aggrega

Intangibles - Estimated Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Estimated aggregate amortization of Intangible Assets
Intangible assets, net	$ 314,156	$ 418,061
Rental and Related Revenues
Estimated aggregate amortization of Intangible Assets
2024	22,577
2025	21,560
2026	19,071
2027	15,064
2028	11,945
Thereafter	29,909
Intangible assets, net	120,126
Depreciation and Amortization
Estimated aggregate amortization of Intangible Assets
2024	95,208
2025	83,629
2026	51,580
2027	25,981
2028	16,216
Thereafter	34,288
Intangible assets, net	$ 306,902

Debt - Bank Line of Credit and

Debt - Bank Line of Credit and Term Loan (Details)			1 Months Ended		12 Months Ended
	Aug. 22, 2022 USD ($) loan	May 23, 2019 USD ($) renewal_option	Jan. 31, 2024 USD ($)	Sep. 30, 2021 USD ($) renewal_option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)	Aug. 31, 2022 derivative_held
Debt Instrument [Line Items]
Bank line of credit and commercial paper					$ 720,000,000	$ 995,606,000
Long-term debt					6,876,299,000
Senior unsecured notes					$ 5,403,378,000	4,659,451,000
Interest rate swap instruments | Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of interest-rate contracts held | derivative_held								2
Term Loan Agreement
Debt Instrument [Line Items]
Number of loans | loan	2
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, minimum					$ 7,700,000,000
Term Loan Agreement | Interest rate swap instruments
Debt Instrument [Line Items]
Fixed interest rate					3.76%
2024 Term Loan | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, term (in months)			5 years
Senior unsecured notes			$ 750,000,000
Interest rate (as a percent)			4.50%
Bank Line of Credit
Debt Instrument [Line Items]
Long-term debt					$ 0
Revolving Credit Facility | Bank Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 2,500,000,000		$ 3,000,000,000
Number of extensions (in renewal options) | renewal_option		2		2
Length of debt instrument extension period		6 months		6 months
Debt instrument, interest rate, reduction available for sustainability metrics					0.00025
Line of credit facility additional aggregate amount, maximum				$ 750,000,000
Bank line of credit and commercial paper					$ 0	0
Revolving Credit Facility | Bank Line of Credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Loan, basis spread on variable rate					0.85%
Debt instrument, facility fee (as a percent)					0.15%
Term Loan Facilities | Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, covenant debt to assets (as a percent)					60%
Term Loan Facilities | Bank Line of Credit | Term Loan Agreement
Debt Instrument [Line Items]
Length of debt instrument extension period	1 year
Debt instrument, interest rate, reduction available for sustainability metrics	0.0001
Face amount	$ 500,000,000						$ 500,000,000
Debt instrument, period after closing	180 days
Debt instrument, term (in months)	4 years 6 months
Long-term debt					$ 500,000,000	$ 500,000,000
Margin rate (as a percent)					0.94%
Line of credit facility, loan feature, higher borrowing capacity option	$ 500,000,000
Term Loan Facilities One | Bank Line of Credit | Term Loan Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	250,000,000
Term Loan Facilities Two | Bank Line of Credit | 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) - Commercial Paper Program - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,000,000,000	$ 2,000,000,000
Short-term debt	$ 720,000,000	$ 996,000,000
Term of facility	37 days	2 months
Weighted-average interest rate (as a percent)	5.70%	4.90%

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) bond	May 10, 2023 USD ($)	Jan. 17, 2023 USD ($)	Nov. 24, 2021 USD ($)	Jul. 12, 2021 USD ($)	May 19, 2021 USD ($)	Feb. 26, 2021 USD ($)	Jan. 28, 2021 USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,925,122
Number of bond offerings | bond			2
Loss on extinguishment of debt	0	$ 0	$ 225,824
Senior Unsecured Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,450,000	$ 4,700,000
Senior Unsecured Notes | Senior Unsecured Notes 5.25%
Debt Instrument [Line Items]
Face amount				$ 350,000	$ 400,000
Interest rate (as a percent)				5.25%	5.25%
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 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 Notes During Year Ended December 31, 2021
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 225,000

Debt - Mortgage Debt (Details)

Debt - Mortgage Debt (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($) facility property	Dec. 31, 2023 USD ($) facility	Dec. 31, 2022 USD ($) facility property	Dec. 31, 2021 USD ($) property	Feb. 28, 2023 derivative_held	Aug. 31, 2022 derivative_held	Apr. 30, 2022 derivative_held	Apr. 30, 2021 USD ($)
Debt Instrument [Line Items]
Principal balance on debt	$ 6,925,122	$ 6,925,122
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		2
Outpatient Medical
Debt Instrument [Line Items]
Property count | property			3	4
Outpatient Medical | Mortgage Debt
Debt Instrument [Line Items]
Property count | facility	13	13
Face amount	$ 142,000	$ 142,000						$ 142,000
CCRC | Mortgage Debt
Debt Instrument [Line Items]
Face amount	$ 85,000	85,000
Number of loans | property	1
Mortgage Debt
Debt Instrument [Line Items]
Principal balance on debt	$ 255,122	255,122	$ 345,000
Debt instrument, collateral, healthcare facilities carrying value	$ 587,000	587,000	793,000
Debt instrument, periodic payment, principal		$ 90,000	$ 5,000	$ 9,000
Mortgage Debt | Outpatient Medical
Debt Instrument [Line Items]
Property count | facility	15	15	15
Mortgage Debt | CCRC
Debt Instrument [Line Items]
Property count | facility	2	2	3
Debt instrument, periodic payment, principal		$ 90,000

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
2024	$ 7,024
2025	803,209
2026	1,614,523
2027	950,366
2028	500,000
Thereafter	3,050,000
Long-term debt, gross	6,925,122
Premiums, (discounts), and debt issuance costs, net	(48,823)
Long-term debt	6,876,299
Bank Line of Credit
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	0
2028	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]
2024	0
2025	0
2026	720,000
2027	0
2028	0
Thereafter	0
Long-term debt, gross	720,000
Premiums, (discounts), and debt issuance costs, net	0
Long-term debt	720,000
Term Loans
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	500,000
2028	0
Thereafter	0
Long-term debt, gross	500,000
Premiums, (discounts), and debt issuance costs, net	(3,176)
Long-term debt	496,824
Senior Unsecured Notes
Debt Instrument [Line Items]
2024	0
2025	800,000
2026	650,000
2027	450,000
2028	500,000
Thereafter	3,050,000
Long-term debt, gross	5,450,000	$ 4,700,000
Premiums, (discounts), and debt issuance costs, net	(46,622)
Long-term debt	$ 5,403,378
Weighted-average interest rate (as a percent)	3.66%
Weighted-average maturity	6 years
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 | 2028
Debt Instrument [Line Items]
Interest rate (as a percent)	2.35%
Senior Unsecured Notes | Thereafter
Debt Instrument [Line Items]
Interest rate (as a percent)	4.18%
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]
2024	$ 7,024
2025	3,209
2026	244,523
2027	366
2028	0
Thereafter	0
Long-term debt, gross	255,122	$ 345,000
Premiums, (discounts), and debt issuance costs, net	975
Long-term debt	$ 256,097
Weighted-average interest rate (as a percent)	4.50%
Weighted-average maturity	3 years
Mortgage Debt | 2024
Debt Instrument [Line Items]
Interest rate (as a percent)	6.90%
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)	4.44%
Mortgage Debt | 2027
Debt Instrument [Line Items]
Interest rate (as a percent)	5.91%
Mortgage Debt | 2028
Debt Instrument [Line Items]
Interest rate (as a percent)	0%
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)	9.26%

Commitments and Contingencies -

Commitments and Contingencies - Legal Proceedings (Details)	Dec. 31, 2023 lawsuit
Other Commitments [Line Items]
Number of lawsuits	3
Physicians Realty Trust
Other Commitments [Line Items]
Number of lawsuits	4
Physicians Realty Trust
Other Commitments [Line Items]
Number of lawsuits	1

Commitments and Contingencies_2

Commitments and Contingencies - DownREIT LLCs (Details)	Dec. 31, 2023 property
Lab JV | Lab
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_3

Commitments and Contingencies - Schedule of Contractual Obligation (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Other Commitments [Line Items]
Commitments	$ 179,651
Development and redevelopment commitments
Other Commitments [Line Items]
Commitments	151,996
Lease and other contractual commitments
Other Commitments [Line Items]
Commitments	$ 27,655

Equity and Redeemable Noncont_3

Equity and Redeemable Noncontrolling Interests - Dividends (Details) - $ / shares		12 Months Ended
	Jan. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 1.20	$ 1.20	$ 1.20
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
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary or Equity Method Investee [Line Items]
Issuance of common stock, net		$ 1,438,000	$ 309,417,000	$ 1,745,000
At-The-Market Program
Subsidiary or Equity Method Investee [Line Items]
Aggregate amount authorized		$ 1,500,000,000
Maximum shares issuable under forward equity sales agreement (in shares)	9,100,000
Forward rate per share (in dollars per share)	$ 34.01
Issuance of common stock, net	$ 308,000,000
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
2023 At-The-Market Program
Subsidiary or Equity Method Investee [Line Items]
Aggregate amount remaining		$ 1,500,000,000
Maximum shares issuable under forward equity sales agreement (in shares)				9,100,000
2020 ATM Program
Subsidiary or Equity Method Investee [Line Items]
Forward rate per share (in dollars per share)				$ 35.25
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 - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended
	Aug. 31, 2022	Dec. 31, 2023	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_6

Equity and Redeemable Noncontrolling Interests - Schedule of Other Common Stock Activities (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Dividend Reinvestment and Stock Purchase Plan (in shares)	70	59	81
Conversion of DownREIT units (in shares)	72	27	8
Exercise of stock options (in shares)	0	0	97
Vesting of restricted stock units (in shares)	613	820	924
Repurchase of common stock (in shares)	241	2,418	418

Equity and Redeemable Noncont_7

Equity and Redeemable Noncontrolling Interests - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) plan_participant	Dec. 31, 2022 USD ($)
Equity [Abstract]
Unrealized gains (losses) on derivatives, net	$ 21,245	$ 30,145
Supplemental Executive Retirement Plan minimum liability	(1,874)	(2,011)
Total accumulated other comprehensive income (loss)	$ 19,371	$ 28,134
Number of plan participants | plan_participant	1

Equity and Redeemable Noncont_8

Equity and Redeemable Noncontrolling Interests - Healthpeak OP (Details) unit in Millions		12 Months Ended
	Feb. 10, 2023 shares	Dec. 31, 2023 interest unit
Noncontrolling Interest [Line Items]
Number of redeemable noncontrolling interest redemptions		3
Number of redeemable noncontrolling interests, redeemable over time		1
Healthpeak OP
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent	100%
Healthpeak OP | Total Noncontrolling Interests
Noncontrolling Interest [Line Items]
Issuance of OP units (in units) | unit		2
Common stock, unit redemption share amount | shares	1

Equity and Redeemable Noncont_9

Equity and Redeemable Noncontrolling Interests - DownREITs (Details) $ in Thousands, shares in Millions	Dec. 31, 2023 USD ($) entity shares	Dec. 31, 2022 USD ($) shares
Noncontrolling Interest [Line Items]
Non-managing member unitholders	$ 214,598	$ 200,176
Total Noncontrolling Interests
Noncontrolling Interest [Line Items]
DownREIT units outstanding (in shares) | shares	5	5
Common stock issuable (in shares) | shares	7
Number of DownREIT LLCs (in entities) | entity	7
Non-managing member unitholders	$ 199,000	$ 200,000
DownREIT unit, fair value	$ 143,000	$ 183,000

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Income (loss) from continuing operations	$ 334,757	$ 513,540	$ 137,728
Noncontrolling interests’ share in continuing operations	(28,748)	(15,975)	(17,851)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	306,009	497,565	119,877
Less: Participating securities’ share in continuing operations	(1,725)	(2,657)	(3,269)
Income (loss) from continuing operations applicable to common shares	304,284	494,908	116,608
Income (loss) from discontinued operations	0	2,884	388,202
Noncontrolling interests’ share in discontinued operations	0	0	(2,539)
Net income (loss) applicable to common shares	304,284	497,792	502,271
Net income (loss) applicable to common shares	$ 304,284	$ 497,792	$ 502,271
Denominator
Basic weighted average shares outstanding (in shares)	547,006,000	538,809,000	538,930,000
Dilutive potential common shares - equity awards (in shares)	269,000	338,000	310,000
Dilutive potential common shares - forward equity agreements (in shares)	0	0	1,000
Diluted (in shares)	547,275,000	539,147,000	539,241,000
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ 0.56	$ 0.92	$ 0.22
Discontinued operations (in dollars per share)	0	0	0.71
Net income (loss) applicable to common shares (in dollars per share)	0.56	0.92	0.93
Diluted earnings (loss) per common share
Continuing operations (in dollars per share)	0.56	0.92	0.22
Discontinued operations (in dollars per share)	0	0	0.71
Net income (loss) applicable to common shares (in dollars per share)	$ 0.56	$ 0.92	$ 0.93
Outstanding equity awards (in shares)	1,000,000	1,000,000	1,000,000
Antidilutive securities excluded from computation of earnings per share (in shares)	0
Forward sales agreements that have not been settled (in shares)		9,100,000
Forward sales agreements that have been settled (in shares)			9,100,000

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0
Down REIT
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,000,000	7,000,000	7,000,000

Compensation Plans - Stock Base

Compensation Plans - Stock Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 23, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 19	$ 32	$ 23
Accelerated cost		10
Share-based payment arrangement, amount capitalized	4	$ 4	$ 3
Nonvested award, cost not yet recognized, amount	$ 20
Total unrecognized compensation cost, period of recognition	1 year 6 months
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)				0
2023 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for future awards (in shares)	31,000,000
Maximum number of shares reserved for awards (in shares)	31,000,000
Maximum number of shares available for future awards to be issued as restricted stock and performance restricted stock unit (in shares)	21,000,000

Compensation Plans - Restricted

Compensation Plans - Restricted Stock Awards (Details) shares in Thousands, unit in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) unit shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Healthpeak OP | Total Noncontrolling Interests
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of OP units (in units) | unit	2
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares withheld to offset tax withholding obligations (in shares) | shares	241	356	418
Market Based Restricted Stock Units
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	33%	38.90%	39.10%
Expected dividend yield	4.40%	3.50%	4%
Risk free interest rate	4.40%	1.80%	0.20%
Postvesting restrictions	10%	5.80%	12.90%
Total grant date fair value	$ 9	$ 27	$ 23
Total fair values (at vesting) of restricted stock and restricted stock units vested	16	27	29
Time Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant date fair value	9	27	23
Total fair values (at vesting) of restricted stock and restricted stock units vested	$ 16	$ 27	$ 29
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Percentage of performance metrics during performance period	10%
Total grant date fair value	$ 29
Total fair values (at vesting) of restricted stock and restricted stock units vested	$ 2
Minimum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Minimum | Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance metrics during performance period	0%
Minimum | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	3 years
Percentage of performance metrics during performance period	0%
Maximum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	5 years
Maximum | Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance metrics during performance period	200%
Maximum | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period	6 years
Percentage of performance metrics during performance period	200%

Compensation Plans - Stock Opti

Compensation Plans - Stock Options (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense recognized	$ 19,000,000	$ 32,000,000	$ 23,000,000
Common Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options shares outstanding (in shares)	0.2	0.3
Proceeds received from options exercised	$ 0	$ 0	3,000,000
Total share-based compensation expense recognized	$ 0	$ 0	$ 0

Compensation Plans - Schedule o

Compensation Plans - Schedule of Restricted Stock Unit and LTIP Unit activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock Units
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	1,709
Granted (in shares) | shares	393
Vested (in shares) | shares	(613)
Forfeited (in shares) | shares	(610)
Unvested at the end of the period (in shares) | shares	879
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 33.66
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	28.12
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	37.97
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	31.16
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 29.91
LTIP Units
Unvested restricted stock and performance restricted stock units activity
Unvested at the beginning of the period (in shares) | shares	0
Granted (in shares) | shares	1,970
Vested (in shares) | shares	(76)
Forfeited (in shares) | shares	0
Unvested at the end of the period (in shares) | shares	1,894
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 0
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	14.66
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	24.56
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	0
Unvested at the end of the period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 14.26

Compensation Plans - Departure

Compensation Plans - Departure of Executives (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Severance costs	$ 10
Accounts Payable and Accrued Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Severance costs		$ 8	$ 15
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Severance costs	$ 33

Segment Disclosures - Narrative

Segment Disclosures - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of facilities owned by unconsolidated joint venture | property	19
Goodwill	$ 18	$ 18
Outpatient Medical | 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	3 Months Ended				12 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues					$ 2,181,003	$ 2,061,178	$ 1,896,184
Government grant income					184	6,765	1,412
Less: Interest income					(21,781)	(23,300)	(37,773)
Healthpeak’s share of unconsolidated joint venture total revenues					95,383	86,805	83,377
Healthpeak’s share of unconsolidated joint venture government grant income					229	878	1,749
Noncontrolling interests’ share of consolidated joint venture total revenues					(35,692)	(35,985)	(35,655)
Operating expenses					(902,060)	(862,991)	(773,279)
Healthpeak’s share of unconsolidated joint venture operating expenses					(66,092)	(61,693)	(61,515)
Noncontrolling interests’ share of consolidated joint venture operating expenses					10,077	10,404	10,158
Adjustments to NOI					(56,264)	(75,798)	(54,513)
Adjusted NOI					1,204,987	1,106,263	1,030,145
Plus: Adjustments to NOI					56,264	75,798	54,513
Interest income					21,781	23,300	37,773
Interest expense					(200,331)	(172,944)	(157,980)
Depreciation and amortization					(749,901)	(710,569)	(684,286)
General and administrative					(95,132)	(131,033)	(98,303)
Transaction and merger-related costs					(17,515)	(4,853)	(1,841)
Impairments and loan loss reserves, net					5,601	(7,004)	(23,160)
Gain (loss) on sales of real estate, net					86,463	9,078	190,590
Gain (loss) on debt extinguishments					0	0	(225,824)
Other income (expense), net					6,808	326,268	6,266
Less: Government grant income					(184)	(6,765)	(1,412)
Less: Healthpeak’s share of unconsolidated joint venture NOI					(29,520)	(25,990)	(23,611)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI					25,615	25,581	25,497
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures					314,936	507,130	128,367
Income tax benefit (expense)					9,617	4,425	3,261
Equity income (loss) from unconsolidated joint ventures					10,204	1,985	6,100
Income (loss) from continuing operations					334,757	513,540	137,728
Income (loss) from discontinued operations					0	2,884	388,202
Net income (loss)					334,757	516,424	525,930
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					4,174	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					(4,174)	0	0
Adjusted NOI					0	0	0
Plus: Adjustments to NOI					4,174	0	0
Interest income					0	0	0
Interest expense					(185,551)	(158,535)	(147,210)
Depreciation and amortization					0	0	0
General and administrative					(95,132)	(131,033)	(98,303)
Transaction and merger-related costs					(14,181)	(2,486)	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)
Other income (expense), net					3,957	3,013	6,309
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					(286,733)	(289,041)	(465,028)
Income tax benefit (expense)					9,617	4,425	3,261
Equity income (loss) from unconsolidated joint ventures					0	0	0
Income (loss) from continuing operations					(277,116)	(284,616)	(461,767)
Income (loss) from discontinued operations					0	2,884	388,202
Net income (loss)					(277,116)	(281,732)	(73,565)
Lab
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Gain (loss) on sales of real estate, net	$ 60,000			$ 4,000
Lab | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues					878,326	817,573	715,844
Government grant income					0	0	0
Less: Interest income					0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues					9,924	9,921	5,757
Healthpeak’s share of unconsolidated joint venture government grant income					0	0	0
Noncontrolling interests’ share of consolidated joint venture total revenues					(619)	(268)	(292)
Operating expenses					(229,630)	(209,143)	(169,044)
Healthpeak’s share of unconsolidated joint venture operating expenses					(4,092)	(2,883)	(1,836)
Noncontrolling interests’ share of consolidated joint venture operating expenses					156	87	87
Adjustments to NOI					(36,524)	(62,754)	(46,589)
Adjusted NOI					617,541	552,533	503,927
Plus: Adjustments to NOI					36,524	62,754	46,589
Interest income					0	0	0
Interest expense					0	0	(232)
Depreciation and amortization					(328,349)	(302,649)	(303,196)
General and administrative					0	0	0
Transaction and merger-related costs					(333)	(387)	(24)
Impairments and loan loss reserves, net					0	0	0
Gain (loss) on sales of real estate, net					60,498	3,744	0
Gain (loss) on debt extinguishments							0
Other income (expense), net					7	311,939	55
Less: Government grant income					0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI					(5,832)	(7,038)	(3,921)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI					463	181	205
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures					380,519	621,077	243,403
Income tax benefit (expense)					0	0	0
Equity income (loss) from unconsolidated joint ventures					4,540	(972)	1,118
Income (loss) from continuing operations					385,059	620,105	244,521
Income (loss) from discontinued operations					0	0	0
Net income (loss)					385,059	620,105	244,521
Outpatient Medical
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Gain (loss) on sales of real estate, net	$ 21,000	$ 1,000	$ 10,000
Outpatient Medical | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues					753,479	725,370	671,242
Government grant income					0	0	0
Less: Interest income					0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues					3,033	2,999	2,882
Healthpeak’s share of unconsolidated joint venture government grant income					0	0	0
Noncontrolling interests’ share of consolidated joint venture total revenues					(35,073)	(35,717)	(35,363)
Operating expenses					(263,132)	(253,309)	(223,383)
Healthpeak’s share of unconsolidated joint venture operating expenses					(1,189)	(1,178)	(1,174)
Noncontrolling interests’ share of consolidated joint venture operating expenses					9,921	10,317	10,071
Adjustments to NOI					(14,314)	(15,513)	(11,118)
Adjusted NOI					452,725	432,969	413,157
Plus: Adjustments to NOI					14,314	15,513	11,118
Interest income					0	0	0
Interest expense					(7,770)	(6,900)	(2,837)
Depreciation and amortization					(289,683)	(279,546)	(255,746)
General and administrative					0	0	0
Transaction and merger-related costs					(1,120)	(1,255)	(323)
Impairments and loan loss reserves, net					0	0	(21,577)
Gain (loss) on sales of real estate, net					21,312	10,659	190,590
Gain (loss) on debt extinguishments							0
Other income (expense), net					2,697	12,709	(2,725)
Less: Government grant income					0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI					(1,844)	(1,821)	(1,708)
Plus: Noncontrolling interests’ share of consolidated joint venture NOI					25,152	25,400	25,292
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures					215,783	207,728	355,241
Income tax benefit (expense)					0	0	0
Equity income (loss) from unconsolidated joint ventures					835	852	794
Income (loss) from continuing operations					216,618	208,580	356,035
Income (loss) from discontinued operations					0	0	0
Net income (loss)					216,618	208,580	356,035
CCRC | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues					527,417	494,935	471,325
Government grant income					184	6,765	1,412
Less: Interest income					0	0	0
Healthpeak’s share of unconsolidated joint venture total revenues					0	0	6,903
Healthpeak’s share of unconsolidated joint venture government grant income					0	380	200
Noncontrolling interests’ share of consolidated joint venture total revenues					0	0	0
Operating expenses					(413,472)	(400,539)	(380,865)
Healthpeak’s share of unconsolidated joint venture operating expenses					0	0	(6,639)
Noncontrolling interests’ share of consolidated joint venture operating expenses					0	0	0
Adjustments to NOI					(1,618)	2,300	3,241
Adjusted NOI					112,511	103,841	95,577
Plus: Adjustments to NOI					1,618	(2,300)	(3,241)
Interest income					0	0	0
Interest expense					(7,010)	(7,509)	(7,701)
Depreciation and amortization					(131,869)	(128,374)	(125,344)
General and administrative					0	0	0
Transaction and merger-related costs					(1,881)	(725)	(1,445)
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
Other income (expense), net					228	(1,380)	2,141
Less: Government grant income					(184)	(6,765)	(1,412)
Less: Healthpeak’s share of unconsolidated joint venture NOI					0	(380)	(464)
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					(26,587)	(43,592)	(41,889)
Income tax benefit (expense)					0	0	0
Equity income (loss) from unconsolidated joint ventures					0	539	1,484
Income (loss) from continuing operations					(26,587)	(43,053)	(40,405)
Income (loss) from discontinued operations					0	0	0
Net income (loss)					(26,587)	(43,053)	(40,405)
Other Non-Reporting Segment | Operating Segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Total revenues					21,781	23,300	37,773
Government grant income					0	0	0
Less: Interest income					(21,781)	(23,300)	(37,773)
Healthpeak’s share of unconsolidated joint venture total revenues					82,426	73,885	67,835
Healthpeak’s share of unconsolidated joint venture government grant income					229	498	1,549
Noncontrolling interests’ share of consolidated joint venture total revenues					0	0	0
Operating expenses					0	0	13
Healthpeak’s share of unconsolidated joint venture operating expenses					(60,811)	(57,632)	(51,866)
Noncontrolling interests’ share of consolidated joint venture operating expenses					0	0	0
Adjustments to NOI					366	169	(47)
Adjusted NOI					22,210	16,920	17,484
Plus: Adjustments to NOI					(366)	(169)	47
Interest income					21,781	23,300	37,773
Interest expense					0	0	0
Depreciation and amortization					0	0	0
General and administrative					0	0	0
Transaction and merger-related costs					0	0	(49)
Impairments and loan loss reserves, net					5,601	(7,004)	(1,583)
Gain (loss) on sales of real estate, net					4,653	(5,325)	0
Gain (loss) on debt extinguishments							0
Other income (expense), net					(81)	(13)	486
Less: Government grant income					0	0	0
Less: Healthpeak’s share of unconsolidated joint venture NOI					(21,844)	(16,751)	(17,518)
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					31,954	10,958	36,640
Income tax benefit (expense)					0	0	0
Equity income (loss) from unconsolidated joint ventures					4,829	1,566	2,704
Income (loss) from continuing operations					36,783	12,524	39,344
Income (loss) from discontinued operations					0	0	0
Net income (loss)					$ 36,783	$ 12,524	$ 39,344

Segment Disclosures - Revenues

Segment Disclosures - Revenues and Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Disclosure
Total assets	$ 15,698,850	$ 15,771,229
Assets held for sale, net	117,986	49,866
Operating segment
Segment Disclosure
Gross assets	18,059,469	17,588,155
Accumulated depreciation and amortization	(4,017,023)	(3,540,362)
Total assets	14,042,446	14,047,793
Operating segment | Lab
Segment Disclosure
Gross assets	9,313,395	9,019,271
Operating segment | Outpatient Medical
Segment Disclosure
Gross assets	6,376,191	6,291,986
Operating segment | CCRC
Segment Disclosure
Gross assets	2,369,883	2,276,898
Operating segment | Other Non-reportable
Segment Disclosure
Total assets	553,031	744,550
Other non-segment
Segment Disclosure
Total assets	$ 985,387	$ 929,020

Income Taxes - Schedule of Comm

Income Taxes - Schedule of Common Stock Distribution (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 1.200000	$ 1.200000	$ 1.200000
Qualified business income for purpose of Code Section 199A (in dollars per share)	0.882312	0.872948	0.137064
Qualified dividend income for purposes of Code Section 1(h)(11) (in dollars per share)	0.027380		0.015272
Unrecaptured Section 1250 gain (in dollars per share)	$ 0.036256	$ 0.017760	$ 0.379960
Section 1231, capital distribution percentage	0%	89.6708%	0%
Section 897, capital distribution percentage	100%	10.3292%	100%
Ordinary dividends
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.909692	$ 0.872948	$ 0.152336
Capital gains
Dividends Payable [Line Items]
Dividends (in dollars per share)	0.116992	0.183208	0.379960
Nondividend distributions
Dividends Payable [Line Items]
Dividends (in dollars per share)	$ 0.173316	$ 0.143844	$ 0.667704

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes	$ 325,000,000	$ 509,000,000	$ 134,000,000
Income (loss) before income taxes	314,936,000	507,130,000	128,367,000
Income tax benefit (expense)	0	300,000	1,000,000
Income tax benefit	(9,617,000)	(4,425,000)	(3,261,000)
Deferred income tax expense (benefit)	(14,605,000)	(6,001,000)	(5,792,000)
Net operating loss carryforward	54,136,000	62,280,000	71,744,000
Unrecognized tax benefits	0	0	469,000	$ 469,000
Down REIT
Operating Loss Carryforwards [Line Items]
Income (loss) from continuing operations before income taxes	318,000,000	527,000,000	150,000,000
TRS
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes	7,000,000	(18,000,000)	(16,000,000)
Income tax benefit	14,000,000
Deferred income tax expense (benefit)	13,000,000	$ 26,000,000	$ 36,000,000
Net operating loss carryforward	216,000,000
Net operating loss carryforwards subject to expiration	15,000,000
Net operating loss carryforwards not subject to expiration	$ 201,000,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ (1,663)	$ (632)	$ (126)
State	(3,325)	(689)	(1,003)
Total current	(4,988)	(1,321)	(1,129)
Deferred
Federal	11,682	3,157	3,469
State	2,923	2,589	921
Total deferred	14,605	5,746	4,390
Total income tax benefit (expense) from continuing operations	$ 9,617	$ 4,425	$ 3,261

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax benefit (expense) at U.S. federal statutory income tax rate on income or loss subject to tax	$ (1,404)	$ 3,698	$ 3,345
State income tax benefit (expense), net of federal tax	(1,035)	911	706
Gross receipts and margin taxes	(1,647)	(956)	(989)
Return to provision adjustments	(90)	1,260	(4)
Change in valuation allowance for deferred tax assets	13,797	194	203
Change in tax status of TRS	(4)	(682)	0
Total income tax benefit (expense) from continuing operations	$ 9,617	$ 4,425	$ 3,261

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Deferred revenue	$ 103,530	$ 102,504	$ 104,397
Net operating loss carryforward	54,136	62,280	71,744
Expense accruals	12,324	12,399	14,229
Real estate	850	150	129
Other	58	689	0
Total deferred tax assets	170,898	178,022	190,499
Valuation allowance	(13,004)	(26,098)	(35,772)
Deferred tax assets, net of valuation allowance	157,894	151,924	154,727
Deferred tax liabilities:
Real estate	43,488	52,266	61,097
Other	818	674	648
Deferred tax liabilities	44,306	52,940	61,745
Net deferred tax assets	$ 113,588	$ 98,984	$ 92,982

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total unrecognized tax benefits at January 1	$ 0	$ 469,000	$ 469,000
Gross amount of decreases for prior years’ tax positions	0	(469,000)	0
Total unrecognized tax benefits at December 31	$ 0	$ 0	$ 469,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental cash flow information:
Interest paid, net of capitalized interest	$ 188,213	$ 162,115	$ 173,044
Income taxes paid (refunded)	1,923	(1,903)	4,521
Capitalized interest	56,849	41,046	24,084
Cash paid for amounts included in the measurement of lease liability for operating leases	21,488	12,594	10,620
Supplemental schedule of non-cash investing and financing activities:
Increase in ROU asset in exchange for new lease liability related to operating leases	3,951	9,454	28,866
Decrease in ROU asset with corresponding change in lease liability related to operating leases	0	0	8,410
Accrued construction costs	105,572	178,626	179,995
Net noncash impact from the consolidation of property previously held in an unconsolidated joint venture	993	0	0
Retained investment in connection with South San Francisco JVs transaction	0	293,265	0
Seller financing provided on disposition of real estate asset	0	0	559,745
Carrying value of mortgages assumed by buyer in real estate dispositions	$ 0	$ 0	$ 143,676

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Leasing costs, tenant improvements, and recurring capital expenditures	$ 113,596	$ 108,510	$ 111,480
Development, redevelopment, and other major improvements of real estate	731,206	861,636	610,555
Depreciation and amortization of real estate, in-place lease, and other intangibles	749,901	710,569	684,286
Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Leasing costs, tenant improvements, and recurring capital expenditures	0	21	2,636
Development, redevelopment, and other major improvements of real estate	0	18	5,780
Depreciation and amortization of real estate, in-place lease, and other intangibles	$ 0	$ 0	$ 0

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information - Summary of cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Continuing operations
Cash and cash equivalents	$ 117,635	$ 72,032	$ 158,287	$ 44,226
Restricted cash	51,388	54,802	53,454	67,206
Cash, cash equivalents, and restricted cash	169,023	126,834	211,741	111,432
Discontinued operations
Cash and cash equivalents	0	0	7,707	53,085
Restricted cash	0	0	0	17,168
Cash, cash equivalents, and restricted cash	0	0	7,707	70,253
Cash and cash equivalents	117,635	72,032	165,994	97,311
Restricted cash	51,388	54,802	53,454	84,374
Cash, cash equivalents, and restricted cash	$ 169,023	$ 126,834	$ 219,448	$ 181,685

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2023 joint_venture hospital	Dec. 31, 2022 USD ($) joint_venture
Lab | Needham Land Parcel JV
Variable Interest Entity [Line Items]
Investment ownership percentage	38%	38%
Payments to acquire equity method investment | $	$ 13
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures		2	2
Number of VIE borrowers with marketable debt securities		1	1
Variable Interest Entity, Not Primary Beneficiary | Commercial Mortgage-Backed Securities
Variable Interest Entity [Line Items]
Number of hospitals | hospital		3
Debt securities | $			$ 22
Ventures V, LLC
Variable Interest Entity [Line Items]
Ownership percentage		51%
Lab JV
Variable Interest Entity [Line Items]
Ownership percentage		98%
MSREI MOB JV
Variable Interest Entity [Line Items]
Ownership percentage		51%
DownREIT Partnerships
Variable Interest Entity [Line Items]
Controlling interest entity controlling ownership interest		7

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
LLC Investment
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 14,985
Needham Land Parcel JV
Variable Interest Entity [Line Items]
Maximum loss exposure and carrying amount	$ 17,084

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Buildings and improvements	$ 13,329,464	$ 12,784,078
Development costs and construction in progress	643,217	760,355
Accumulated depreciation and amortization	(3,591,951)	(3,188,138)
Net real estate	13,028,363	13,023,483
Accounts receivable, net	55,820	53,436
Cash and cash equivalents	117,635	72,032	$ 158,287	$ 44,226
Intangible assets, net	314,156	418,061
Right-of-use asset, net	240,155	237,318
Other assets, net	772,044	780,722
Total assets	15,698,850	15,771,229
LIABILITIES AND EQUITY
Mortgage debt	256,097	346,599
Intangible liabilities, net	127,380	156,193
Lease liability	206,743	208,515
Accounts payable, accrued liabilities, and other liabilities	657,196	772,485
Deferred revenue	905,633	844,076
Total liabilities	8,773,980	8,482,952
Variable Interest Entity
ASSETS
Buildings and improvements	2,392,375	2,356,905
Development costs and construction in progress	47,481	58,499
Land and improvements	307,166	324,714
Accumulated depreciation and amortization	(665,791)	(623,244)
Net real estate	2,081,231	2,116,874
Accounts receivable, net	5,906	6,893
Cash and cash equivalents	18,410	20,586
Restricted cash	613	354
Intangible assets, net	56,975	73,860
Assets held for sale, net	0	30,355
Right-of-use asset, net	97,575	99,376
Other assets, net	79,248	73,690
Total assets	2,339,958	2,421,988
LIABILITIES AND EQUITY
Mortgage debt	144,874	144,604
Intangible liabilities, net	11,884	15,066
Liabilities related to assets held for sale, net	0	401
Lease liability	99,725	99,039
Accounts payable, accrued liabilities, and other liabilities	54,975	68,979
Deferred revenue	48,316	39,661
Total liabilities	359,774	367,750
Discontinued Operations | Variable Interest Entity
ASSETS
Buildings and improvements	0	39,934
Land and improvements	0	1,926
Accumulated depreciation and amortization	0	(15,612)
Net real estate	0	26,248
Intangible assets, net	0	215
Other assets, net	0	3,892
Total assets	0	30,355
LIABILITIES AND EQUITY
Deferred revenue	0	401
Total liabilities	$ 0	$ 401

Concentration of Credit Risk -

Concentration of Credit Risk - Schedule of Geographical Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Percentage of Total Company Revenues | Customer Concentration Risk | Lab | Largest Tenant
Concentration Risk [Line Items]
Concentration risk (as a percent)	2%
Percentage of Total Company Revenues | Customer Concentration Risk | Outpatient Medical | 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)	38%	37%
California | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	31%	31%	28%
Florida | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	10%	10%
Florida | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	18%	18%	17%
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%	11%
Massachusetts | Percentage of Total Company Assets | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	17%	17%
Massachusetts | Percentage of Total Company Revenues | Geographic Concentration Risk | Continuing Operations
Concentration Risk [Line Items]
Concentration risk (as a percent)	11%	10%	9%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of financial instruments
Bank line of credit and commercial paper	$ 720,000	$ 995,606
Senior unsecured notes	5,403,378	4,659,451
Mortgage debt	256,097	346,599
Carrying Value
Summary of financial instruments
Loans receivable, net	218,450	374,832
Marketable debt securities	0	21,702
Bank line of credit and commercial paper	720,000	995,606
Term loan	496,824	495,957
Senior unsecured notes	5,403,378	4,659,451
Mortgage debt	256,097	346,599
Carrying Value | Interest rate swap instruments
Summary of financial instruments
Interest rate instruments	21,359	30,259
Fair Value | Level 1
Summary of financial instruments
Senior unsecured notes	5,144,667	4,238,124
Fair Value | Level 2
Summary of financial instruments
Loans receivable, net	218,450	369,425
Marketable debt securities	0	21,702
Bank line of credit and commercial paper	720,000	995,606
Term loan	496,824	495,957
Mortgage debt	244,135	330,867
Fair Value | Level 2 | Interest rate swap instruments
Summary of financial instruments
Interest rate instruments	$ 21,359	$ 30,259

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2024 USD ($)	Feb. 28, 2023 derivative_held	Aug. 31, 2022 USD ($) derivative_held	Apr. 30, 2022 derivative_held	Apr. 30, 2021 USD ($) derivative_held
Derivative [Line Items]
Asset at fair value, changes in fair value resulting from changes in assumptions	$ 18
Subsequent Event | 2024 Term Loan
Derivative [Line Items]
Interest rate (as a percent)			4.50%
Interest rate cap instruments | Not Designated as Hedging Instrument
Derivative [Line Items]
Number of interest-rate contracts held | derivative_held							2
Derivative amount							$ 142
Increase in the fair value of the interest rate cap agreements		$ 2
Interest rate swap instruments | Designated as Hedging Instrument
Derivative [Line Items]
Number of interest-rate contracts held | derivative_held					2
Derivative amount					$ 500
Interest rate swap instruments | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Derivative amount			$ 750
Interest rate swap instruments | Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Number of interest-rate contracts held | derivative_held				2		2

Derivative Financial Instrume_4

Derivative Financial Instruments - Financial Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap, 4.99% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 51,100
Pay Rate	4.99%
Receive Rate	2.50%
Fair value	$ 1,602	$ 2,300
Interest Rate Swap, 4.54% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 91,000
Pay Rate	4.54%
Receive Rate	2.05%
Fair value	$ 2,851	4,096
Interest Rate Swap, 2.60% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 250,000
Pay Rate	2.60%
Fair value	$ 7,933	11,299
Interest Rate Swap, 2.54% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 250,000
Pay Rate	2.54%
Fair value	$ 8,973	12,564
Interest Rate Swap, 5.08% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount		$ 51,000
Pay Rate		5.08%
Receive Rate		2.50%
Interest Rate Swap, 4.63% Pay Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount		$ 91,000
Pay Rate		4.63%
Receive Rate		2.05%

Accounts Payable, Accrued Lia_3

Accounts Payable, Accrued Liabilities, and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Refundable entrance fees	$ 251,874	$ 268,972
Accrued construction costs	105,572	178,626
Accrued interest	59,492	59,291
Other accounts payable and accrued liabilities	240,258	265,596
Accounts payable, accrued liabilities, and other liabilities	$ 657,196	$ 772,485

Deferred Revenue - Schedule of

Deferred Revenue - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues [Abstract]
Nonrefundable entrance fees	$ 562,026	$ 518,573
Other deferred revenue	343,607	325,503
Deferred revenue	905,633	844,076
Proceeds from nonrefundable entrance fees	127,000	101,000
Amortization of nonrefundable entrance fee	83,000	79,000	$ 76,000
Amortization of other deferred charges	$ 68,000	$ 44,000	$ 39,000

Schedule II_ Valuation and Qu_2

Schedule II: Valuation and Qualifying Accounts (Details) - Allowance Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 2,399	$ 1,870
Additions
Amounts Charged Against Operations, net	0	529	$ 0
Acquired Properties	0	0	0
Deductions	(117)	0	(2,124)
Balance at End of Year	2,282	2,399	1,870
Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	0	4,138
Additions
Amounts Charged Against Operations, net	0	0	46
Acquired Properties	0	0	0
Deductions	0	(4,138)	(1,781)
Balance at End of Year	$ 0	$ 0	4,138
ASU 2016-02 | Continuing Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			3,994
ASU 2016-02 | Discontinued Operations
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year			$ 5,873

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, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Held-for-sale
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	$ 0
Initial Cost to Company
Land and improvements	9,125
Building and Improvements	10,213
Costs Capitalized Subsequent to Acquisition	103,849
Gross Amount at Which Carried As of Year End
Land and improvements	9,154
Buildings and Improvements	114,033
Total	123,187
Accumulated Depreciation	(5,365)
Discontinued Operations
Gross Amount at Which Carried As of Year End
Total	0	$ 0	$ 0	$ 2,930,566
Accumulated Depreciation	0	$ 0	$ 0	$ (615,708)
Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	256,097
Initial Cost to Company
Land and improvements	2,618,324
Building and Improvements	8,722,627
Costs Capitalized Subsequent to Acquisition	5,279,363
Gross Amount at Which Carried As of Year End
Land and improvements	2,647,633
Buildings and Improvements	13,972,681
Total	16,620,314
Accumulated Depreciation	(3,591,951)
Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,936,228
Building and Improvements	3,238,815
Costs Capitalized Subsequent to Acquisition	3,654,501
Gross Amount at Which Carried As of Year End
Land and improvements	1,939,357
Buildings and Improvements	6,890,187
Total	8,829,544
Accumulated Depreciation	(1,444,864)
Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	146,426
Initial Cost to Company
Land and improvements	529,287
Building and Improvements	3,887,576
Costs Capitalized Subsequent to Acquisition	1,467,286
Gross Amount at Which Carried As of Year End
Land and improvements	546,448
Buildings and Improvements	5,337,701
Total	5,884,149
Accumulated Depreciation	(1,796,189)
Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	109,671
Initial Cost to Company
Land and improvements	161,934
Building and Improvements	1,606,449
Costs Capitalized Subsequent to Acquisition	261,425
Gross Amount at Which Carried As of Year End
Land and improvements	170,982
Buildings and Improvements	1,858,826
Total	2,029,808
Accumulated Depreciation	(356,263)
1483 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,498
Building and Improvements	500
Costs Capitalized Subsequent to Acquisition	82,955
Gross Amount at Which Carried As of Year End
Land and improvements	8,498
Buildings and Improvements	83,455
Total	91,953
Accumulated Depreciation	(6,065)
1484 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,331
Building and Improvements	689
Costs Capitalized Subsequent to Acquisition	159,209
Gross Amount at Which Carried As of Year End
Land and improvements	11,331
Buildings and Improvements	159,898
Total	171,229
Accumulated Depreciation	(10,321)
1485 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,331
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	151,954
Gross Amount at Which Carried As of Year End
Land and improvements	11,331
Buildings and Improvements	152,554
Total	163,885
Accumulated Depreciation	(11,224)
1486 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,331
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	135,416
Gross Amount at Which Carried As of Year End
Land and improvements	11,331
Buildings and Improvements	135,416
Total	146,747
Accumulated Depreciation	(22,767)
1487 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,498
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	76,398
Gross Amount at Which Carried As of Year End
Land and improvements	8,498
Buildings and Improvements	76,398
Total	84,896
Accumulated Depreciation	(7,089)
2874 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	26,895
Building and Improvements	62,318
Costs Capitalized Subsequent to Acquisition	75,811
Gross Amount at Which Carried As of Year End
Land and improvements	26,295
Buildings and Improvements	138,729
Total	165,024
Accumulated Depreciation	(13,636)
2875 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	24,092
Building and Improvements	56,623
Costs Capitalized Subsequent to Acquisition	7,302
Gross Amount at Which Carried As of Year End
Land and improvements	24,092
Buildings and Improvements	63,925
Total	88,017
Accumulated Depreciation	(10,162)
3139 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	35,805
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,505
Gross Amount at Which Carried As of Year End
Land and improvements	35,805
Buildings and Improvements	5,505
Total	41,310
Accumulated Depreciation	0
3140 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	35,805
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,668
Gross Amount at Which Carried As of Year End
Land and improvements	35,805
Buildings and Improvements	2,668
Total	38,473
Accumulated Depreciation	0
3142 Brisbane, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,724
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	3,724
Total	3,724
Accumulated Depreciation	0
1401 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	900
Building and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	12,450
Gross Amount at Which Carried As of Year End
Land and improvements	1,338
Buildings and Improvements	19,112
Total	20,450
Accumulated Depreciation	(5,630)
1402 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,500
Building and Improvements	6,400
Costs Capitalized Subsequent to Acquisition	6,837
Gross Amount at Which Carried As of Year End
Land and improvements	1,500
Buildings and Improvements	13,237
Total	14,737
Accumulated Depreciation	(2,971)
1403 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,900
Building and Improvements	7,100
Costs Capitalized Subsequent to Acquisition	7,873
Gross Amount at Which Carried As of Year End
Land and improvements	1,900
Buildings and Improvements	14,973
Total	16,873
Accumulated Depreciation	(5,801)
1404 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,200
Building and Improvements	17,200
Costs Capitalized Subsequent to Acquisition	8,948
Gross Amount at Which Carried As of Year End
Land and improvements	2,200
Buildings and Improvements	26,148
Total	28,348
Accumulated Depreciation	(10,059)
1405 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,000
Building and Improvements	3,200
Costs Capitalized Subsequent to Acquisition	646
Gross Amount at Which Carried As of Year End
Land and improvements	1,000
Buildings and Improvements	3,846
Total	4,846
Accumulated Depreciation	(1,625)
1549 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,006
Building and Improvements	4,259
Costs Capitalized Subsequent to Acquisition	4,208
Gross Amount at Which Carried As of Year End
Land and improvements	1,006
Buildings and Improvements	8,467
Total	9,473
Accumulated Depreciation	(4,388)
1550 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	677
Building and Improvements	2,761
Costs Capitalized Subsequent to Acquisition	876
Gross Amount at Which Carried As of Year End
Land and improvements	677
Buildings and Improvements	3,637
Total	4,314
Accumulated Depreciation	(2,027)
1551 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	661
Building and Improvements	1,995
Costs Capitalized Subsequent to Acquisition	2,899
Gross Amount at Which Carried As of Year End
Land and improvements	661
Buildings and Improvements	4,894
Total	5,555
Accumulated Depreciation	(1,675)
1552 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,187
Building and Improvements	7,139
Costs Capitalized Subsequent to Acquisition	1,435
Gross Amount at Which Carried As of Year End
Land and improvements	1,187
Buildings and Improvements	8,574
Total	9,761
Accumulated Depreciation	(5,601)
1553 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,189
Building and Improvements	9,465
Costs Capitalized Subsequent to Acquisition	6,555
Gross Amount at Which Carried As of Year End
Land and improvements	1,189
Buildings and Improvements	16,020
Total	17,209
Accumulated Depreciation	(12,099)
1554 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,246
Building and Improvements	5,179
Costs Capitalized Subsequent to Acquisition	11,951
Gross Amount at Which Carried As of Year End
Land and improvements	1,246
Buildings and Improvements	17,130
Total	18,376
Accumulated Depreciation	(6,357)
1555 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,521
Building and Improvements	13,546
Costs Capitalized Subsequent to Acquisition	7,482
Gross Amount at Which Carried As of Year End
Land and improvements	1,521
Buildings and Improvements	21,028
Total	22,549
Accumulated Depreciation	(14,370)
1556 Hayward, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,212
Building and Improvements	5,120
Costs Capitalized Subsequent to Acquisition	1,127
Gross Amount at Which Carried As of Year End
Land and improvements	1,212
Buildings and Improvements	6,247
Total	7,459
Accumulated Depreciation	(3,853)
1424 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,175
Building and Improvements	25,283
Costs Capitalized Subsequent to Acquisition	44,107
Gross Amount at Which Carried As of Year End
Land and improvements	11,389
Buildings and Improvements	69,176
Total	80,565
Accumulated Depreciation	(16,131)
1425 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,217
Building and Improvements	19,883
Costs Capitalized Subsequent to Acquisition	61
Gross Amount at Which Carried As of Year End
Land and improvements	7,217
Buildings and Improvements	19,944
Total	27,161
Accumulated Depreciation	(8,193)
1426 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,381
Building and Improvements	12,412
Costs Capitalized Subsequent to Acquisition	11,260
Gross Amount at Which Carried As of Year End
Land and improvements	8,381
Buildings and Improvements	23,672
Total	32,053
Accumulated Depreciation	(15,449)
1427 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,127
Building and Improvements	16,983
Costs Capitalized Subsequent to Acquisition	7,965
Gross Amount at Which Carried As of Year End
Land and improvements	10,148
Buildings and Improvements	24,927
Total	35,075
Accumulated Depreciation	(11,048)
1949 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,686
Building and Improvements	11,045
Costs Capitalized Subsequent to Acquisition	17,501
Gross Amount at Which Carried As of Year End
Land and improvements	2,686
Buildings and Improvements	28,546
Total	31,232
Accumulated Depreciation	(8,278)
2229 La Jolla, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,753
Building and Improvements	32,528
Costs Capitalized Subsequent to Acquisition	16,498
Gross Amount at Which Carried As of Year End
Land and improvements	8,777
Buildings and Improvements	49,002
Total	57,779
Accumulated Depreciation	(13,320)
1470 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,826
Building and Improvements	12,200
Costs Capitalized Subsequent to Acquisition	341
Gross Amount at Which Carried As of Year End
Land and improvements	5,826
Buildings and Improvements	12,541
Total	18,367
Accumulated Depreciation	(5,094)
1471 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,978
Building and Improvements	14,200
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	5,978
Buildings and Improvements	14,200
Total	20,178
Accumulated Depreciation	(5,828)
1472 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,654
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,895
Gross Amount at Which Carried As of Year End
Land and improvements	8,654
Buildings and Improvements	11,895
Total	20,549
Accumulated Depreciation	(3,723)
1473 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,024
Building and Improvements	2,405
Costs Capitalized Subsequent to Acquisition	25,455
Gross Amount at Which Carried As of Year End
Land and improvements	11,024
Buildings and Improvements	27,860
Total	38,884
Accumulated Depreciation	(11,513)
1474 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,051
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,939
Gross Amount at Which Carried As of Year End
Land and improvements	5,051
Buildings and Improvements	19,939
Total	24,990
Accumulated Depreciation	(7,191)
1475 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,655
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	10,299
Gross Amount at Which Carried As of Year End
Land and improvements	5,655
Buildings and Improvements	10,299
Total	15,954
Accumulated Depreciation	(837)
1478 Poway, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,700
Building and Improvements	14,400
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	6,700
Buildings and Improvements	14,400
Total	21,100
Accumulated Depreciation	(5,910)
1499 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,400
Building and Improvements	5,500
Costs Capitalized Subsequent to Acquisition	1,501
Gross Amount at Which Carried As of Year End
Land and improvements	3,455
Buildings and Improvements	6,946
Total	10,401
Accumulated Depreciation	(3,391)
1500 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,500
Building and Improvements	4,100
Costs Capitalized Subsequent to Acquisition	988
Gross Amount at Which Carried As of Year End
Land and improvements	2,500
Buildings and Improvements	5,088
Total	7,588
Accumulated Depreciation	(2,478)
1501 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,600
Building and Improvements	4,600
Costs Capitalized Subsequent to Acquisition	1,892
Gross Amount at Which Carried As of Year End
Land and improvements	3,600
Buildings and Improvements	6,492
Total	10,092
Accumulated Depreciation	(3,293)
1502 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,100
Building and Improvements	5,100
Costs Capitalized Subsequent to Acquisition	1,647
Gross Amount at Which Carried As of Year End
Land and improvements	3,100
Buildings and Improvements	6,747
Total	9,847
Accumulated Depreciation	(3,253)
1503 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,800
Building and Improvements	17,300
Costs Capitalized Subsequent to Acquisition	8,276
Gross Amount at Which Carried As of Year End
Land and improvements	4,800
Buildings and Improvements	25,576
Total	30,376
Accumulated Depreciation	(9,310)
1504 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,400
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	10,956
Gross Amount at Which Carried As of Year End
Land and improvements	5,400
Buildings and Improvements	26,456
Total	31,856
Accumulated Depreciation	(11,249)
1505 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,000
Building and Improvements	3,500
Costs Capitalized Subsequent to Acquisition	5,316
Gross Amount at Which Carried As of Year End
Land and improvements	3,000
Buildings and Improvements	8,816
Total	11,816
Accumulated Depreciation	(3,374)
1506 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,000
Building and Improvements	14,300
Costs Capitalized Subsequent to Acquisition	14,300
Gross Amount at Which Carried As of Year End
Land and improvements	6,000
Buildings and Improvements	28,600
Total	34,600
Accumulated Depreciation	(15,991)
1507 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,900
Building and Improvements	12,800
Costs Capitalized Subsequent to Acquisition	10,680
Gross Amount at Which Carried As of Year End
Land and improvements	1,900
Buildings and Improvements	23,480
Total	25,380
Accumulated Depreciation	(7,910)
1508 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,700
Building and Improvements	11,300
Costs Capitalized Subsequent to Acquisition	17,193
Gross Amount at Which Carried As of Year End
Land and improvements	2,700
Buildings and Improvements	28,493
Total	31,193
Accumulated Depreciation	(9,485)
1509 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,700
Building and Improvements	10,900
Costs Capitalized Subsequent to Acquisition	1,565
Gross Amount at Which Carried As of Year End
Land and improvements	2,700
Buildings and Improvements	12,465
Total	15,165
Accumulated Depreciation	(5,042)
1510 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,200
Building and Improvements	12,000
Costs Capitalized Subsequent to Acquisition	6,243
Gross Amount at Which Carried As of Year End
Land and improvements	2,200
Buildings and Improvements	18,243
Total	20,443
Accumulated Depreciation	(7,367)
1511 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,600
Building and Improvements	9,300
Costs Capitalized Subsequent to Acquisition	19,676
Gross Amount at Which Carried As of Year End
Land and improvements	2,600
Buildings and Improvements	28,976
Total	31,576
Accumulated Depreciation	(15,352)
1512 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,300
Building and Improvements	18,000
Costs Capitalized Subsequent to Acquisition	19,072
Gross Amount at Which Carried As of Year End
Land and improvements	3,300
Buildings and Improvements	37,072
Total	40,372
Accumulated Depreciation	(18,557)
1513 Redwood City, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,300
Building and Improvements	17,900
Costs Capitalized Subsequent to Acquisition	12,092
Gross Amount at Which Carried As of Year End
Land and improvements	3,326
Buildings and Improvements	29,966
Total	33,292
Accumulated Depreciation	(16,766)
678 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,603
Building and Improvements	11,051
Costs Capitalized Subsequent to Acquisition	3,514
Gross Amount at Which Carried As of Year End
Land and improvements	2,766
Buildings and Improvements	14,402
Total	17,168
Accumulated Depreciation	(6,897)
679 San Diego CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,269
Building and Improvements	23,566
Costs Capitalized Subsequent to Acquisition	23,961
Gross Amount at Which Carried As of Year End
Land and improvements	5,669
Buildings and Improvements	47,127
Total	52,796
Accumulated Depreciation	(18,457)
837 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,630
Building and Improvements	2,028
Costs Capitalized Subsequent to Acquisition	3,302
Gross Amount at Which Carried As of Year End
Land and improvements	4,630
Buildings and Improvements	5,330
Total	9,960
Accumulated Depreciation	(2,426)
838 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,040
Building and Improvements	903
Costs Capitalized Subsequent to Acquisition	3,354
Gross Amount at Which Carried As of Year End
Land and improvements	2,040
Buildings and Improvements	4,257
Total	6,297
Accumulated Depreciation	(1,325)
839 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,940
Building and Improvements	3,184
Costs Capitalized Subsequent to Acquisition	2,863
Gross Amount at Which Carried As of Year End
Land and improvements	4,036
Buildings and Improvements	5,951
Total	9,987
Accumulated Depreciation	(2,499)
840 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,690
Building and Improvements	4,579
Costs Capitalized Subsequent to Acquisition	1,289
Gross Amount at Which Carried As of Year End
Land and improvements	5,830
Buildings and Improvements	5,728
Total	11,558
Accumulated Depreciation	(2,587)
1418 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,700
Building and Improvements	31,243
Costs Capitalized Subsequent to Acquisition	59,282
Gross Amount at Which Carried As of Year End
Land and improvements	11,700
Buildings and Improvements	90,525
Total	102,225
Accumulated Depreciation	(16,917)
1419 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,324
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	33,144
Gross Amount at Which Carried As of Year End
Land and improvements	2,324
Buildings and Improvements	33,144
Total	35,468
Accumulated Depreciation	(2,735)
1420 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,200
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	41,121
Gross Amount at Which Carried As of Year End
Land and improvements	4,200
Buildings and Improvements	41,121
Total	45,321
Accumulated Depreciation	(2,293)
1421 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,000
Building and Improvements	33,779
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	7,000
Buildings and Improvements	33,779
Total	40,779
Accumulated Depreciation	(13,863)
1422 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,179
Building and Improvements	3,687
Costs Capitalized Subsequent to Acquisition	1,171
Gross Amount at Which Carried As of Year End
Land and improvements	7,179
Buildings and Improvements	4,858
Total	12,037
Accumulated Depreciation	(3,687)
1423 San Diego CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,400
Building and Improvements	33,144
Costs Capitalized Subsequent to Acquisition	33,504
Gross Amount at Which Carried As of Year End
Land and improvements	8,400
Buildings and Improvements	66,648
Total	75,048
Accumulated Depreciation	(21,043)
1558 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,740
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	61,285
Gross Amount at Which Carried As of Year End
Land and improvements	7,740
Buildings and Improvements	61,285
Total	69,025
Accumulated Depreciation	0
1947 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,581
Building and Improvements	10,534
Costs Capitalized Subsequent to Acquisition	4,485
Gross Amount at Which Carried As of Year End
Land and improvements	2,581
Buildings and Improvements	15,019
Total	17,600
Accumulated Depreciation	(7,859)
1948 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,879
Building and Improvements	25,305
Costs Capitalized Subsequent to Acquisition	7,951
Gross Amount at Which Carried As of Year End
Land and improvements	5,879
Buildings and Improvements	33,256
Total	39,135
Accumulated Depreciation	(13,014)
2197 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,621
Building and Improvements	3,913
Costs Capitalized Subsequent to Acquisition	7,541
Gross Amount at Which Carried As of Year End
Land and improvements	7,621
Buildings and Improvements	11,454
Total	19,075
Accumulated Depreciation	(6,884)
2476 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,661
Building and Improvements	9,918
Costs Capitalized Subsequent to Acquisition	13,883
Gross Amount at Which Carried As of Year End
Land and improvements	7,661
Buildings and Improvements	23,801
Total	31,462
Accumulated Depreciation	(3,731)
2477 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,207
Building and Improvements	14,613
Costs Capitalized Subsequent to Acquisition	5,993
Gross Amount at Which Carried As of Year End
Land and improvements	9,207
Buildings and Improvements	20,606
Total	29,813
Accumulated Depreciation	(6,371)
2478 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	112,511
Gross Amount at Which Carried As of Year End
Land and improvements	6,000
Buildings and Improvements	112,511
Total	118,511
Accumulated Depreciation	0
2617 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,734
Building and Improvements	5,195
Costs Capitalized Subsequent to Acquisition	9,364
Gross Amount at Which Carried As of Year End
Land and improvements	2,734
Buildings and Improvements	14,559
Total	17,293
Accumulated Depreciation	(3,269)
2618 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,100
Building and Improvements	12,395
Costs Capitalized Subsequent to Acquisition	22,843
Gross Amount at Which Carried As of Year End
Land and improvements	4,100
Buildings and Improvements	35,238
Total	39,338
Accumulated Depreciation	(11,689)
2622 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	17,231
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	17,231
Total	17,231
Accumulated Depreciation	(1,658)
2872 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,120
Building and Improvements	38,351
Costs Capitalized Subsequent to Acquisition	1,044
Gross Amount at Which Carried As of Year End
Land and improvements	10,120
Buildings and Improvements	39,395
Total	49,515
Accumulated Depreciation	(7,919)
2873 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,052
Building and Improvements	14,122
Costs Capitalized Subsequent to Acquisition	1,846
Gross Amount at Which Carried As of Year End
Land and improvements	6,052
Buildings and Improvements	15,968
Total	22,020
Accumulated Depreciation	(3,117)
3069 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,054
Building and Improvements	7,794
Costs Capitalized Subsequent to Acquisition	19,748
Gross Amount at Which Carried As of Year End
Land and improvements	6,954
Buildings and Improvements	27,642
Total	34,596
Accumulated Depreciation	(3,467)
3104 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	40,755
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	40,755
Total	40,755
Accumulated Depreciation	0
3110 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	19,120
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	7,212
Gross Amount at Which Carried As of Year End
Land and improvements	20,587
Buildings and Improvements	5,745
Total	26,332
Accumulated Depreciation	0
3111 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	24,729
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,261
Gross Amount at Which Carried As of Year End
Land and improvements	24,830
Buildings and Improvements	1,160
Total	25,990
Accumulated Depreciation	0
3153 San Diego, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,215
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	30
Gross Amount at Which Carried As of Year End
Land and improvements	1,216
Buildings and Improvements	29
Total	1,245
Accumulated Depreciation	0
1410 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,900
Building and Improvements	18,100
Costs Capitalized Subsequent to Acquisition	12,159
Gross Amount at Which Carried As of Year End
Land and improvements	4,900
Buildings and Improvements	30,259
Total	35,159
Accumulated Depreciation	(14,389)
1411 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,000
Building and Improvements	27,700
Costs Capitalized Subsequent to Acquisition	33,159
Gross Amount at Which Carried As of Year End
Land and improvements	8,000
Buildings and Improvements	60,859
Total	68,859
Accumulated Depreciation	(18,496)
1412 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,100
Building and Improvements	22,521
Costs Capitalized Subsequent to Acquisition	10,207
Gross Amount at Which Carried As of Year End
Land and improvements	10,100
Buildings and Improvements	32,728
Total	42,828
Accumulated Depreciation	(12,170)
1413 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,000
Building and Improvements	28,299
Costs Capitalized Subsequent to Acquisition	8,489
Gross Amount at Which Carried As of Year End
Land and improvements	8,000
Buildings and Improvements	36,788
Total	44,788
Accumulated Depreciation	(17,427)
1430 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,700
Building and Improvements	23,621
Costs Capitalized Subsequent to Acquisition	27,632
Gross Amount at Which Carried As of Year End
Land and improvements	10,700
Buildings and Improvements	51,253
Total	61,953
Accumulated Depreciation	(14,113)
1431 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,000
Building and Improvements	15,500
Costs Capitalized Subsequent to Acquisition	9,493
Gross Amount at Which Carried As of Year End
Land and improvements	7,000
Buildings and Improvements	24,993
Total	31,993
Accumulated Depreciation	(10,242)
1435 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	13,800
Building and Improvements	42,500
Costs Capitalized Subsequent to Acquisition	26,975
Gross Amount at Which Carried As of Year End
Land and improvements	13,800
Buildings and Improvements	69,475
Total	83,275
Accumulated Depreciation	(25,159)
1436 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	14,500
Building and Improvements	45,300
Costs Capitalized Subsequent to Acquisition	25,437
Gross Amount at Which Carried As of Year End
Land and improvements	14,500
Buildings and Improvements	70,737
Total	85,237
Accumulated Depreciation	(24,676)
1437 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,400
Building and Improvements	24,800
Costs Capitalized Subsequent to Acquisition	36,758
Gross Amount at Which Carried As of Year End
Land and improvements	9,400
Buildings and Improvements	61,558
Total	70,958
Accumulated Depreciation	(21,946)
1439 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,900
Building and Improvements	68,848
Costs Capitalized Subsequent to Acquisition	929
Gross Amount at Which Carried As of Year End
Land and improvements	11,900
Buildings and Improvements	69,777
Total	81,677
Accumulated Depreciation	(28,268)
1440 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,000
Building and Improvements	57,954
Costs Capitalized Subsequent to Acquisition	471
Gross Amount at Which Carried As of Year End
Land and improvements	10,000
Buildings and Improvements	58,425
Total	68,425
Accumulated Depreciation	(23,883)
1441 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,300
Building and Improvements	43,549
Costs Capitalized Subsequent to Acquisition	3,004
Gross Amount at Which Carried As of Year End
Land and improvements	9,300
Buildings and Improvements	46,553
Total	55,853
Accumulated Depreciation	(16,875)
1442 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,000
Building and Improvements	47,289
Costs Capitalized Subsequent to Acquisition	42,670
Gross Amount at Which Carried As of Year End
Land and improvements	11,000
Buildings and Improvements	89,959
Total	100,959
Accumulated Depreciation	(21,784)
1443 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	13,200
Building and Improvements	60,932
Costs Capitalized Subsequent to Acquisition	3,259
Gross Amount at Which Carried As of Year End
Land and improvements	13,200
Buildings and Improvements	64,191
Total	77,391
Accumulated Depreciation	(24,832)
1444 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,500
Building and Improvements	33,776
Costs Capitalized Subsequent to Acquisition	9,449
Gross Amount at Which Carried As of Year End
Land and improvements	10,500
Buildings and Improvements	43,225
Total	53,725
Accumulated Depreciation	(13,088)
1445 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,600
Building and Improvements	34,083
Costs Capitalized Subsequent to Acquisition	11
Gross Amount at Which Carried As of Year End
Land and improvements	10,600
Buildings and Improvements	34,094
Total	44,694
Accumulated Depreciation	(13,995)
1458 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,900
Building and Improvements	20,900
Costs Capitalized Subsequent to Acquisition	6,560
Gross Amount at Which Carried As of Year End
Land and improvements	10,900
Buildings and Improvements	27,460
Total	38,360
Accumulated Depreciation	(9,607)
1459 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,800
Building and Improvements	400
Costs Capitalized Subsequent to Acquisition	157,931
Gross Amount at Which Carried As of Year End
Land and improvements	9,800
Buildings and Improvements	158,331
Total	168,131
Accumulated Depreciation	(4,460)
1462 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,117
Building and Improvements	600
Costs Capitalized Subsequent to Acquisition	4,112
Gross Amount at Which Carried As of Year End
Land and improvements	7,117
Buildings and Improvements	4,712
Total	11,829
Accumulated Depreciation	(1,785)
1463 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,381
Building and Improvements	2,300
Costs Capitalized Subsequent to Acquisition	19,648
Gross Amount at Which Carried As of Year End
Land and improvements	10,381
Buildings and Improvements	21,948
Total	32,329
Accumulated Depreciation	(8,511)
1464 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,403
Building and Improvements	700
Costs Capitalized Subsequent to Acquisition	8,819
Gross Amount at Which Carried As of Year End
Land and improvements	7,403
Buildings and Improvements	9,519
Total	16,922
Accumulated Depreciation	(2,723)
1468 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,100
Building and Improvements	24,013
Costs Capitalized Subsequent to Acquisition	12,188
Gross Amount at Which Carried As of Year End
Land and improvements	10,100
Buildings and Improvements	36,201
Total	46,301
Accumulated Depreciation	(15,058)
1480 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	32,210
Building and Improvements	3,110
Costs Capitalized Subsequent to Acquisition	161,341
Gross Amount at Which Carried As of Year End
Land and improvements	32,210
Buildings and Improvements	164,451
Total	196,661
Accumulated Depreciation	(472)
1528 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	165,770
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	165,770
Total	165,770
Accumulated Depreciation	0
1559 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,666
Building and Improvements	5,773
Costs Capitalized Subsequent to Acquisition	161
Gross Amount at Which Carried As of Year End
Land and improvements	5,666
Buildings and Improvements	5,934
Total	11,600
Accumulated Depreciation	(5,919)
1560 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,204
Building and Improvements	1,293
Costs Capitalized Subsequent to Acquisition	2,683
Gross Amount at Which Carried As of Year End
Land and improvements	1,204
Buildings and Improvements	3,976
Total	5,180
Accumulated Depreciation	(2,917)
1983 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,648
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	97,280
Gross Amount at Which Carried As of Year End
Land and improvements	8,648
Buildings and Improvements	97,280
Total	105,928
Accumulated Depreciation	(34,710)
1984 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,845
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	90,818
Gross Amount at Which Carried As of Year End
Land and improvements	7,844
Buildings and Improvements	90,819
Total	98,663
Accumulated Depreciation	(29,712)
1985 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	122,646
Gross Amount at Which Carried As of Year End
Land and improvements	6,708
Buildings and Improvements	122,646
Total	129,354
Accumulated Depreciation	(37,274)
1986 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,708
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	120,613
Gross Amount at Which Carried As of Year End
Land and improvements	6,708
Buildings and Improvements	120,613
Total	127,321
Accumulated Depreciation	(31,623)
1987 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,544
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,777
Gross Amount at Which Carried As of Year End
Land and improvements	8,544
Buildings and Improvements	100,777
Total	109,321
Accumulated Depreciation	(23,837)
1988 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,120
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	118,498
Gross Amount at Which Carried As of Year End
Land and improvements	10,120
Buildings and Improvements	118,498
Total	128,618
Accumulated Depreciation	(29,452)
1989 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,169
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	100,338
Gross Amount at Which Carried As of Year End
Land and improvements	9,169
Buildings and Improvements	100,338
Total	109,507
Accumulated Depreciation	(18,597)
2553 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,897
Building and Improvements	8,691
Costs Capitalized Subsequent to Acquisition	4,478
Gross Amount at Which Carried As of Year End
Land and improvements	2,897
Buildings and Improvements	13,169
Total	16,066
Accumulated Depreciation	(4,340)
2554 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	995
Building and Improvements	2,754
Costs Capitalized Subsequent to Acquisition	2,332
Gross Amount at Which Carried As of Year End
Land and improvements	995
Buildings and Improvements	5,086
Total	6,081
Accumulated Depreciation	(1,393)
2555 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,202
Building and Improvements	10,776
Costs Capitalized Subsequent to Acquisition	2,497
Gross Amount at Which Carried As of Year End
Land and improvements	2,202
Buildings and Improvements	13,273
Total	15,475
Accumulated Depreciation	(3,326)
2556 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,962
Building and Improvements	15,108
Costs Capitalized Subsequent to Acquisition	1,557
Gross Amount at Which Carried As of Year End
Land and improvements	2,962
Buildings and Improvements	16,665
Total	19,627
Accumulated Depreciation	(4,087)
2557 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,453
Building and Improvements	13,063
Costs Capitalized Subsequent to Acquisition	3,616
Gross Amount at Which Carried As of Year End
Land and improvements	2,453
Buildings and Improvements	16,679
Total	19,132
Accumulated Depreciation	(5,840)
2558 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,163
Building and Improvements	5,925
Costs Capitalized Subsequent to Acquisition	315
Gross Amount at Which Carried As of Year End
Land and improvements	1,163
Buildings and Improvements	6,240
Total	7,403
Accumulated Depreciation	(1,438)
2624 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	25,502
Building and Improvements	42,910
Costs Capitalized Subsequent to Acquisition	14,017
Gross Amount at Which Carried As of Year End
Land and improvements	25,502
Buildings and Improvements	56,927
Total	82,429
Accumulated Depreciation	(13,911)
2870 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	23,297
Building and Improvements	41,797
Costs Capitalized Subsequent to Acquisition	28,777
Gross Amount at Which Carried As of Year End
Land and improvements	23,297
Buildings and Improvements	70,574
Total	93,871
Accumulated Depreciation	(17,071)
2871 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	20,293
Building and Improvements	41,262
Costs Capitalized Subsequent to Acquisition	22,089
Gross Amount at Which Carried As of Year End
Land and improvements	20,293
Buildings and Improvements	63,351
Total	83,644
Accumulated Depreciation	(19,258)
3100 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	24,059
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,733
Gross Amount at Which Carried As of Year End
Land and improvements	24,059
Buildings and Improvements	3,733
Total	27,792
Accumulated Depreciation	0
3101 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	61,208
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	22,276
Gross Amount at Which Carried As of Year End
Land and improvements	61,208
Buildings and Improvements	22,276
Total	83,484
Accumulated Depreciation	0
3102 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	43,885
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	3,806
Gross Amount at Which Carried As of Year End
Land and improvements	43,885
Buildings and Improvements	3,806
Total	47,691
Accumulated Depreciation	0
3123 South San Francisco, CA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	6,455
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	6,455
Total	6,455
Accumulated Depreciation	0
2705 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	24,371
Building and Improvements	128,498
Costs Capitalized Subsequent to Acquisition	83
Gross Amount at Which Carried As of Year End
Land and improvements	24,371
Buildings and Improvements	128,581
Total	152,952
Accumulated Depreciation	(13,274)
2706 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	15,473
Building and Improvements	149,051
Costs Capitalized Subsequent to Acquisition	797
Gross Amount at Which Carried As of Year End
Land and improvements	15,473
Buildings and Improvements	149,848
Total	165,321
Accumulated Depreciation	(16,851)
2707 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	25,549
Building and Improvements	229,547
Costs Capitalized Subsequent to Acquisition	8,597
Gross Amount at Which Carried As of Year End
Land and improvements	25,549
Buildings and Improvements	238,144
Total	263,693
Accumulated Depreciation	(24,757)
2708 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	17,751
Costs Capitalized Subsequent to Acquisition	513
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	18,264
Total	18,264
Accumulated Depreciation	(1,419)
2709 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	15,451
Costs Capitalized Subsequent to Acquisition	29
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	15,480
Total	15,480
Accumulated Depreciation	(1,192)
2928 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	44,215
Building and Improvements	24,120
Costs Capitalized Subsequent to Acquisition	3,076
Gross Amount at Which Carried As of Year End
Land and improvements	44,215
Buildings and Improvements	27,196
Total	71,411
Accumulated Depreciation	(3,966)
2929 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	20,517
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	158,992
Gross Amount at Which Carried As of Year End
Land and improvements	20,517
Buildings and Improvements	158,992
Total	179,509
Accumulated Depreciation	(8,248)
3074 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	78,762
Building and Improvements	252,153
Costs Capitalized Subsequent to Acquisition	11,380
Gross Amount at Which Carried As of Year End
Land and improvements	78,762
Buildings and Improvements	263,533
Total	342,295
Accumulated Depreciation	(32,549)
3106 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	20,644
Building and Improvements	2,982
Costs Capitalized Subsequent to Acquisition	570
Gross Amount at Which Carried As of Year End
Land and improvements	20,644
Buildings and Improvements	3,552
Total	24,196
Accumulated Depreciation	(238)
3107 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	19,009
Building and Improvements	12,327
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	19,009
Buildings and Improvements	12,327
Total	31,336
Accumulated Depreciation	(841)
3108 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	123,074
Building and Improvements	7,513
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	123,074
Buildings and Improvements	7,513
Total	130,587
Accumulated Depreciation	(678)
3109 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,903
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	362
Gross Amount at Which Carried As of Year End
Land and improvements	5,903
Buildings and Improvements	362
Total	6,265
Accumulated Depreciation	0
3112 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	23,402
Building and Improvements	47,623
Costs Capitalized Subsequent to Acquisition	69
Gross Amount at Which Carried As of Year End
Land and improvements	23,402
Buildings and Improvements	47,692
Total	71,094
Accumulated Depreciation	(3,950)
3113 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	32,244
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	6,730
Gross Amount at Which Carried As of Year End
Land and improvements	36,119
Buildings and Improvements	2,855
Total	38,974
Accumulated Depreciation	0
3114 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	22,969
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(2,306)
Gross Amount at Which Carried As of Year End
Land and improvements	22,969
Buildings and Improvements	(2,306)
Total	20,663
Accumulated Depreciation	0
3115 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	66,786
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,418
Gross Amount at Which Carried As of Year End
Land and improvements	66,786
Buildings and Improvements	1,418
Total	68,204
Accumulated Depreciation	0
3116 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	9,680
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,680
Total	9,680
Accumulated Depreciation	0
3119 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	29,667
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	29,667
Total	29,667
Accumulated Depreciation	(2,041)
3120 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	18,063
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	670
Gross Amount at Which Carried As of Year End
Land and improvements	18,063
Buildings and Improvements	670
Total	18,733
Accumulated Depreciation	0
3122 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	25,247
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,081
Gross Amount at Which Carried As of Year End
Land and improvements	25,247
Buildings and Improvements	2,081
Total	27,328
Accumulated Depreciation	0
3136 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,118
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	(219)
Gross Amount at Which Carried As of Year End
Land and improvements	4,119
Buildings and Improvements	(220)
Total	3,899
Accumulated Depreciation	0
3137 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	41,327
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,767
Gross Amount at Which Carried As of Year End
Land and improvements	41,327
Buildings and Improvements	2,767
Total	44,094
Accumulated Depreciation	0
3141 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	72,466
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,757
Gross Amount at Which Carried As of Year End
Land and improvements	72,768
Buildings and Improvements	5,455
Total	78,223
Accumulated Depreciation	0
3148 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,277
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	704
Gross Amount at Which Carried As of Year End
Land and improvements	2,290
Buildings and Improvements	691
Total	2,981
Accumulated Depreciation	0
3149 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,690
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	314
Gross Amount at Which Carried As of Year End
Land and improvements	5,734
Buildings and Improvements	270
Total	6,004
Accumulated Depreciation	0
3150 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,651
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	206
Gross Amount at Which Carried As of Year End
Land and improvements	1,659
Buildings and Improvements	198
Total	1,857
Accumulated Depreciation	0
3151 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,532
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	457
Gross Amount at Which Carried As of Year End
Land and improvements	8,583
Buildings and Improvements	406
Total	8,989
Accumulated Depreciation	0
3152 Cambridge, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,892
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,035
Gross Amount at Which Carried As of Year End
Land and improvements	10,507
Buildings and Improvements	420
Total	10,927
Accumulated Depreciation	0
2630 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	16,411
Building and Improvements	49,681
Costs Capitalized Subsequent to Acquisition	(2,292)
Gross Amount at Which Carried As of Year End
Land and improvements	12,967
Buildings and Improvements	50,833
Total	63,800
Accumulated Depreciation	(10,653)
2631 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	7,759
Building and Improvements	142,081
Costs Capitalized Subsequent to Acquisition	30,228
Gross Amount at Which Carried As of Year End
Land and improvements	6,978
Buildings and Improvements	173,090
Total	180,068
Accumulated Depreciation	(27,404)
2632 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	21,390
Costs Capitalized Subsequent to Acquisition	125,076
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	146,466
Total	146,466
Accumulated Depreciation	(18,615)
3070 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	14,013
Building and Improvements	17,083
Costs Capitalized Subsequent to Acquisition	(269)
Gross Amount at Which Carried As of Year End
Land and improvements	14,013
Buildings and Improvements	16,814
Total	30,827
Accumulated Depreciation	(2,534)
3071 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	14,930
Building and Improvements	16,677
Costs Capitalized Subsequent to Acquisition	(359)
Gross Amount at Which Carried As of Year End
Land and improvements	14,930
Buildings and Improvements	16,318
Total	31,248
Accumulated Depreciation	(2,236)
3072 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	34,598
Building and Improvements	43,032
Costs Capitalized Subsequent to Acquisition	(288)
Gross Amount at Which Carried As of Year End
Land and improvements	34,598
Buildings and Improvements	42,744
Total	77,342
Accumulated Depreciation	(7,547)
3073 Lexington, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	37,050
Building and Improvements	44,647
Costs Capitalized Subsequent to Acquisition	144
Gross Amount at Which Carried As of Year End
Land and improvements	37,050
Buildings and Improvements	44,791
Total	81,841
Accumulated Depreciation	(8,051)
3093 Waltham, MA | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	47,792
Building and Improvements	275,556
Costs Capitalized Subsequent to Acquisition	18,351
Gross Amount at Which Carried As of Year End
Land and improvements	47,792
Buildings and Improvements	293,907
Total	341,699
Accumulated Depreciation	(38,172)
9999 Denton, TX | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	100
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	100
Buildings and Improvements	0
Total	100
Accumulated Depreciation	0
464 Salt Lake City, UT | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	630
Building and Improvements	6,921
Costs Capitalized Subsequent to Acquisition	2,563
Gross Amount at Which Carried As of Year End
Land and improvements	630
Buildings and Improvements	9,484
Total	10,114
Accumulated Depreciation	(5,812)
465 Salt Lake City, UT | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	125
Building and Improvements	6,368
Costs Capitalized Subsequent to Acquisition	68
Gross Amount at Which Carried As of Year End
Land and improvements	125
Buildings and Improvements	6,436
Total	6,561
Accumulated Depreciation	(3,267)
466 Salt Lake City, UT | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	14,614
Costs Capitalized Subsequent to Acquisition	(1,401)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	13,213
Total	13,213
Accumulated Depreciation	(5,371)
1593 Salt Lake City, UT | Lab | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	23,998
Costs Capitalized Subsequent to Acquisition	250
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	24,248
Total	24,248
Accumulated Depreciation	(9,774)
638 Anchorage, AK | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,456
Building and Improvements	10,650
Costs Capitalized Subsequent to Acquisition	10,727
Gross Amount at Which Carried As of Year End
Land and improvements	1,456
Buildings and Improvements	21,377
Total	22,833
Accumulated Depreciation	(9,272)
3026 Bentonville, AR | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	912
Building and Improvements	21,724
Costs Capitalized Subsequent to Acquisition	658
Gross Amount at Which Carried As of Year End
Land and improvements	912
Buildings and Improvements	22,382
Total	23,294
Accumulated Depreciation	(1,712)
0126 Sherwood, AR | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	709
Building and Improvements	9,604
Costs Capitalized Subsequent to Acquisition	208
Gross Amount at Which Carried As of Year End
Land and improvements	709
Buildings and Improvements	9,812
Total	10,521
Accumulated Depreciation	(7,007)
2572 Springdale, AR | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	27,714
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	27,714
Total	27,714
Accumulated Depreciation	(6,413)
520 Chandler, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,669
Building and Improvements	13,503
Costs Capitalized Subsequent to Acquisition	6,374
Gross Amount at Which Carried As of Year End
Land and improvements	4,013
Buildings and Improvements	19,533
Total	23,546
Accumulated Depreciation	(9,353)
0113 Glendale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,565
Building and Improvements	7,050
Costs Capitalized Subsequent to Acquisition	175
Gross Amount at Which Carried As of Year End
Land and improvements	1,565
Buildings and Improvements	7,225
Total	8,790
Accumulated Depreciation	(5,317)
2040 Mesa, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	17,314
Costs Capitalized Subsequent to Acquisition	3,047
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	20,361
Total	20,361
Accumulated Depreciation	(4,856)
1066 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,115
Building and Improvements	14,064
Costs Capitalized Subsequent to Acquisition	5,912
Gross Amount at Which Carried As of Year End
Land and improvements	4,888
Buildings and Improvements	20,203
Total	25,091
Accumulated Depreciation	(8,153)
2021 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,312
Costs Capitalized Subsequent to Acquisition	4,763
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	17,075
Total	17,075
Accumulated Depreciation	(7,205)
2022 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,179
Costs Capitalized Subsequent to Acquisition	3,033
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	12,212
Total	12,212
Accumulated Depreciation	(4,579)
2023 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,398
Costs Capitalized Subsequent to Acquisition	1,818
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	8,216
Total	8,216
Accumulated Depreciation	(3,614)
2024 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,522
Costs Capitalized Subsequent to Acquisition	1,163
Gross Amount at Which Carried As of Year End
Land and improvements	32
Buildings and Improvements	10,653
Total	10,685
Accumulated Depreciation	(4,712)
2025 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,102
Costs Capitalized Subsequent to Acquisition	2,451
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	6,553
Total	6,553
Accumulated Depreciation	(2,764)
2026 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	3,655
Costs Capitalized Subsequent to Acquisition	2,031
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,686
Total	5,686
Accumulated Depreciation	(2,734)
2027 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,168
Costs Capitalized Subsequent to Acquisition	2,119
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,287
Total	9,287
Accumulated Depreciation	(4,289)
2028 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,659
Costs Capitalized Subsequent to Acquisition	5,065
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,724
Total	11,724
Accumulated Depreciation	(5,306)
2696 Scottsdale, AZ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	10,151
Building and Improvements	14,925
Costs Capitalized Subsequent to Acquisition	3,195
Gross Amount at Which Carried As of Year End
Land and improvements	10,211
Buildings and Improvements	18,060
Total	28,271
Accumulated Depreciation	(5,217)
1041 Brentwood, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	30,864
Costs Capitalized Subsequent to Acquisition	9,237
Gross Amount at Which Carried As of Year End
Land and improvements	183
Buildings and Improvements	39,918
Total	40,101
Accumulated Depreciation	(14,995)
1200 Encino, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,151
Building and Improvements	10,438
Costs Capitalized Subsequent to Acquisition	6,043
Gross Amount at Which Carried As of Year End
Land and improvements	6,388
Buildings and Improvements	16,244
Total	22,632
Accumulated Depreciation	(8,073)
1038 Fresno, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,652
Building and Improvements	29,113
Costs Capitalized Subsequent to Acquisition	21,935
Gross Amount at Which Carried As of Year End
Land and improvements	3,652
Buildings and Improvements	51,048
Total	54,700
Accumulated Depreciation	(23,741)
436 Murietta, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	400
Building and Improvements	9,266
Costs Capitalized Subsequent to Acquisition	2,855
Gross Amount at Which Carried As of Year End
Land and improvements	608
Buildings and Improvements	11,913
Total	12,521
Accumulated Depreciation	(7,909)
239 Poway, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,700
Building and Improvements	10,839
Costs Capitalized Subsequent to Acquisition	3,172
Gross Amount at Which Carried As of Year End
Land and improvements	2,944
Buildings and Improvements	13,767
Total	16,711
Accumulated Depreciation	(8,922)
2654 Riverside, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,758
Building and Improvements	9,908
Costs Capitalized Subsequent to Acquisition	529
Gross Amount at Which Carried As of Year End
Land and improvements	2,266
Buildings and Improvements	10,929
Total	13,195
Accumulated Depreciation	(2,233)
318 Sacramento, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,860
Building and Improvements	37,566
Costs Capitalized Subsequent to Acquisition	24,613
Gross Amount at Which Carried As of Year End
Land and improvements	2,911
Buildings and Improvements	62,128
Total	65,039
Accumulated Depreciation	(26,629)
2404 Sacramento, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,268
Building and Improvements	5,109
Costs Capitalized Subsequent to Acquisition	1,652
Gross Amount at Which Carried As of Year End
Land and improvements	1,299
Buildings and Improvements	6,730
Total	8,029
Accumulated Depreciation	(2,581)
421 San Diego, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,910
Building and Improvements	19,984
Costs Capitalized Subsequent to Acquisition	15,146
Gross Amount at Which Carried As of Year End
Land and improvements	2,964
Buildings and Improvements	35,076
Total	38,040
Accumulated Depreciation	(17,632)
564 San Jose, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,935
Building and Improvements	1,728
Costs Capitalized Subsequent to Acquisition	2,213
Gross Amount at Which Carried As of Year End
Land and improvements	1,935
Buildings and Improvements	3,941
Total	5,876
Accumulated Depreciation	(1,596)
565 San Jose, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,460
Building and Improvements	7,672
Costs Capitalized Subsequent to Acquisition	2,175
Gross Amount at Which Carried As of Year End
Land and improvements	1,492
Buildings and Improvements	9,815
Total	11,307
Accumulated Depreciation	(4,641)
659 Los Gatos, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,718
Building and Improvements	3,124
Costs Capitalized Subsequent to Acquisition	1,515
Gross Amount at Which Carried As of Year End
Land and improvements	1,796
Buildings and Improvements	4,561
Total	6,357
Accumulated Depreciation	(2,028)
439 Valencia, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,300
Building and Improvements	6,967
Costs Capitalized Subsequent to Acquisition	3,080
Gross Amount at Which Carried As of Year End
Land and improvements	2,314
Buildings and Improvements	10,033
Total	12,347
Accumulated Depreciation	(6,726)
440 West Hills, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,100
Building and Improvements	11,595
Costs Capitalized Subsequent to Acquisition	11,851
Gross Amount at Which Carried As of Year End
Land and improvements	2,203
Buildings and Improvements	23,343
Total	25,546
Accumulated Depreciation	(8,502)
3008 West Hills, CA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,093
Initial Cost to Company
Land and improvements	5,795
Building and Improvements	13,933
Costs Capitalized Subsequent to Acquisition	2,897
Gross Amount at Which Carried As of Year End
Land and improvements	5,823
Buildings and Improvements	16,802
Total	22,625
Accumulated Depreciation	(1,645)
728 Aurora, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,764
Costs Capitalized Subsequent to Acquisition	1,620
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	10,384
Total	10,384
Accumulated Depreciation	(3,927)
1196 Aurora, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	210
Building and Improvements	12,362
Costs Capitalized Subsequent to Acquisition	6,172
Gross Amount at Which Carried As of Year End
Land and improvements	210
Buildings and Improvements	18,534
Total	18,744
Accumulated Depreciation	(7,855)
1197 Aurora, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	200
Building and Improvements	8,414
Costs Capitalized Subsequent to Acquisition	5,673
Gross Amount at Which Carried As of Year End
Land and improvements	285
Buildings and Improvements	14,002
Total	14,287
Accumulated Depreciation	(6,527)
127 Colorado Springs, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	690
Building and Improvements	8,338
Costs Capitalized Subsequent to Acquisition	367
Gross Amount at Which Carried As of Year End
Land and improvements	690
Buildings and Improvements	8,705
Total	9,395
Accumulated Depreciation	(6,071)
882 Colorado Springs, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,933
Costs Capitalized Subsequent to Acquisition	9,106
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	22,039
Total	22,039
Accumulated Depreciation	(10,586)
1199 Denver, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	493
Building and Improvements	7,897
Costs Capitalized Subsequent to Acquisition	1,789
Gross Amount at Which Carried As of Year End
Land and improvements	604
Buildings and Improvements	9,575
Total	10,179
Accumulated Depreciation	(5,226)
808 Englewood, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,616
Costs Capitalized Subsequent to Acquisition	8,886
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	17,502
Total	17,502
Accumulated Depreciation	(9,595)
809 Englewood, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,449
Costs Capitalized Subsequent to Acquisition	19,042
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	27,491
Total	27,491
Accumulated Depreciation	(6,442)
810 Englewood, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,040
Costs Capitalized Subsequent to Acquisition	15,564
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	23,604
Total	23,604
Accumulated Depreciation	(9,606)
811 Englewood, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,472
Costs Capitalized Subsequent to Acquisition	11,904
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	20,376
Total	20,376
Accumulated Depreciation	(7,895)
2658 Highlands Ranch, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,637
Building and Improvements	10,063
Costs Capitalized Subsequent to Acquisition	95
Gross Amount at Which Carried As of Year End
Land and improvements	1,732
Buildings and Improvements	10,063
Total	11,795
Accumulated Depreciation	(2,334)
812 Littleton, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,562
Costs Capitalized Subsequent to Acquisition	2,775
Gross Amount at Which Carried As of Year End
Land and improvements	177
Buildings and Improvements	7,160
Total	7,337
Accumulated Depreciation	(3,465)
813 Littleton, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,926
Costs Capitalized Subsequent to Acquisition	2,072
Gross Amount at Which Carried As of Year End
Land and improvements	246
Buildings and Improvements	6,752
Total	6,998
Accumulated Depreciation	(3,092)
570 Lone Tree, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	22,171
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	22,171
Total	22,171
Accumulated Depreciation	(10,271)
666 Lone Tree, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	23,274
Costs Capitalized Subsequent to Acquisition	3,843
Gross Amount at Which Carried As of Year End
Land and improvements	17
Buildings and Improvements	27,100
Total	27,117
Accumulated Depreciation	(12,486)
2233 Lone Tree, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,734
Costs Capitalized Subsequent to Acquisition	34,696
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	41,430
Total	41,430
Accumulated Depreciation	(11,074)
2965 Aurora, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	2,251
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	2,251
Total	2,251
Accumulated Depreciation	0
3000 Lone Tree, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,393
Building and Improvements	31,643
Costs Capitalized Subsequent to Acquisition	9,516
Gross Amount at Which Carried As of Year End
Land and improvements	4,552
Buildings and Improvements	41,000
Total	45,552
Accumulated Depreciation	(3,772)
510 Thornton, CO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	236
Building and Improvements	10,206
Costs Capitalized Subsequent to Acquisition	13,728
Gross Amount at Which Carried As of Year End
Land and improvements	455
Buildings and Improvements	23,715
Total	24,170
Accumulated Depreciation	(8,016)
434 Atlantis, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	2,027
Costs Capitalized Subsequent to Acquisition	171
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	2,198
Total	2,198
Accumulated Depreciation	(1,493)
435 Atlantis, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	608
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	2,608
Total	2,608
Accumulated Depreciation	(1,568)
602 Atlantis, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	455
Building and Improvements	2,231
Costs Capitalized Subsequent to Acquisition	744
Gross Amount at Which Carried As of Year End
Land and improvements	455
Buildings and Improvements	2,975
Total	3,430
Accumulated Depreciation	(1,357)
2963 Brooksville, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	11,558
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,558
Total	11,558
Accumulated Depreciation	(1,526)
604 Englewood, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	170
Building and Improvements	1,134
Costs Capitalized Subsequent to Acquisition	1,021
Gross Amount at Which Carried As of Year End
Land and improvements	197
Buildings and Improvements	2,128
Total	2,325
Accumulated Depreciation	(823)
2962 Orange Park, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	17,657
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	17,657
Total	17,657
Accumulated Depreciation	(1,571)
609 Kissimmee, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	788
Building and Improvements	174
Costs Capitalized Subsequent to Acquisition	1,135
Gross Amount at Which Carried As of Year End
Land and improvements	788
Buildings and Improvements	1,309
Total	2,097
Accumulated Depreciation	(655)
610 Kissimmee, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	481
Building and Improvements	347
Costs Capitalized Subsequent to Acquisition	258
Gross Amount at Which Carried As of Year End
Land and improvements	488
Buildings and Improvements	598
Total	1,086
Accumulated Depreciation	(336)
671 Kissimmee, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,574
Costs Capitalized Subsequent to Acquisition	818
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	8,392
Total	8,392
Accumulated Depreciation	(3,727)
603 Lake Worth, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,507
Building and Improvements	2,894
Costs Capitalized Subsequent to Acquisition	534
Gross Amount at Which Carried As of Year End
Land and improvements	1,507
Buildings and Improvements	3,428
Total	4,935
Accumulated Depreciation	(1,459)
612 Margate, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,553
Building and Improvements	6,898
Costs Capitalized Subsequent to Acquisition	2,984
Gross Amount at Which Carried As of Year End
Land and improvements	1,553
Buildings and Improvements	9,882
Total	11,435
Accumulated Depreciation	(4,880)
613 Miami, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,392
Building and Improvements	11,841
Costs Capitalized Subsequent to Acquisition	11,366
Gross Amount at Which Carried As of Year End
Land and improvements	4,454
Buildings and Improvements	23,145
Total	27,599
Accumulated Depreciation	(8,513)
2202 Miami, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	13,123
Costs Capitalized Subsequent to Acquisition	10,907
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	24,030
Total	24,030
Accumulated Depreciation	(10,231)
2203 Miami, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,877
Costs Capitalized Subsequent to Acquisition	4,890
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	13,767
Total	13,767
Accumulated Depreciation	(5,359)
1067 Milton, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,566
Costs Capitalized Subsequent to Acquisition	1,662
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	10,228
Total	10,228
Accumulated Depreciation	(4,057)
2577 Naples, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	29,186
Costs Capitalized Subsequent to Acquisition	1,805
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	30,991
Total	30,991
Accumulated Depreciation	(6,953)
2578 Naples, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	18,819
Costs Capitalized Subsequent to Acquisition	667
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	19,486
Total	19,486
Accumulated Depreciation	(3,709)
2964 Okeechobee, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,951
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	16,951
Total	16,951
Accumulated Depreciation	(1,266)
563 Orlando, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,144
Building and Improvements	5,136
Costs Capitalized Subsequent to Acquisition	13,507
Gross Amount at Which Carried As of Year End
Land and improvements	12,022
Buildings and Improvements	8,765
Total	20,787
Accumulated Depreciation	(6,599)
833 Pace, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	10,309
Costs Capitalized Subsequent to Acquisition	1,628
Gross Amount at Which Carried As of Year End
Land and improvements	28
Buildings and Improvements	11,909
Total	11,937
Accumulated Depreciation	(4,541)
834 Pensacola, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	11,166
Costs Capitalized Subsequent to Acquisition	428
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,594
Total	11,594
Accumulated Depreciation	(4,506)
673 Plantation, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,091
Building and Improvements	7,176
Costs Capitalized Subsequent to Acquisition	2,623
Gross Amount at Which Carried As of Year End
Land and improvements	1,091
Buildings and Improvements	9,799
Total	10,890
Accumulated Depreciation	(4,461)
674 Plantation, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,273
Costs Capitalized Subsequent to Acquisition	1,560
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,833
Total	9,833
Accumulated Depreciation	(1,042)
2579 Punta Gorda, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,379
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,379
Total	9,379
Accumulated Depreciation	(1,957)
2833 St. Petersburg, FL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	13,754
Costs Capitalized Subsequent to Acquisition	10,299
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	24,053
Total	24,053
Accumulated Depreciation	(9,609)
887 Atlanta, GA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,300
Building and Improvements	13,690
Costs Capitalized Subsequent to Acquisition	(1,800)
Gross Amount at Which Carried As of Year End
Land and improvements	4,300
Buildings and Improvements	11,890
Total	16,190
Accumulated Depreciation	(10,007)
3214 Savannah, GA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	10,178
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	10,178
Total	10,178
Accumulated Depreciation	0
2576 Statesboro, GA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	10,234
Costs Capitalized Subsequent to Acquisition	1,430
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,664
Total	11,664
Accumulated Depreciation	(2,973)
3006 Arlington Heights, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	4,861
Initial Cost to Company
Land and improvements	3,011
Building and Improvements	9,651
Costs Capitalized Subsequent to Acquisition	1,857
Gross Amount at Which Carried As of Year End
Land and improvements	3,187
Buildings and Improvements	11,332
Total	14,519
Accumulated Depreciation	(1,299)
2702 Bolingbrook, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	21,237
Costs Capitalized Subsequent to Acquisition	3,884
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	25,121
Total	25,121
Accumulated Depreciation	(3,025)
3004 Highland Park, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,853
Initial Cost to Company
Land and improvements	2,767
Building and Improvements	11,495
Costs Capitalized Subsequent to Acquisition	572
Gross Amount at Which Carried As of Year End
Land and improvements	2,767
Buildings and Improvements	12,067
Total	14,834
Accumulated Depreciation	(1,226)
3005 Lockport, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	11,011
Initial Cost to Company
Land and improvements	3,106
Building and Improvements	22,645
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	3,106
Buildings and Improvements	22,645
Total	25,751
Accumulated Depreciation	(2,256)
1065 Marion, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	99
Building and Improvements	11,538
Costs Capitalized Subsequent to Acquisition	2,005
Gross Amount at Which Carried As of Year End
Land and improvements	100
Buildings and Improvements	13,542
Total	13,642
Accumulated Depreciation	(5,978)
2719 Marion, IL | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	5,098
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,098
Total	5,098
Accumulated Depreciation	(452)
2696 Indianapolis, IN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	59,746
Costs Capitalized Subsequent to Acquisition	954
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	60,700
Total	60,700
Accumulated Depreciation	(5,797)
2699 Indianapolis, IN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	23,211
Costs Capitalized Subsequent to Acquisition	737
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	23,948
Total	23,948
Accumulated Depreciation	(2,364)
2698 Mooresville, IN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	20,646
Costs Capitalized Subsequent to Acquisition	922
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	21,568
Total	21,568
Accumulated Depreciation	(2,080)
1057 Newburgh, IN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	14,019
Costs Capitalized Subsequent to Acquisition	4,149
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	18,168
Total	18,168
Accumulated Depreciation	(8,511)
2700 Zionsville, IN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,969
Building and Improvements	7,281
Costs Capitalized Subsequent to Acquisition	804
Gross Amount at Which Carried As of Year End
Land and improvements	3,040
Buildings and Improvements	8,014
Total	11,054
Accumulated Depreciation	(1,204)
2039 Kansas City, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	440
Building and Improvements	2,173
Costs Capitalized Subsequent to Acquisition	390
Gross Amount at Which Carried As of Year End
Land and improvements	440
Buildings and Improvements	2,563
Total	3,003
Accumulated Depreciation	(740)
112 Overland Park, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,316
Building and Improvements	10,681
Costs Capitalized Subsequent to Acquisition	116
Gross Amount at Which Carried As of Year End
Land and improvements	2,316
Buildings and Improvements	10,797
Total	13,113
Accumulated Depreciation	(8,176)
2043 Overland Park, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,668
Costs Capitalized Subsequent to Acquisition	2,000
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,668
Total	9,668
Accumulated Depreciation	(2,732)
3062 Overland Park, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	872
Building and Improvements	11,813
Costs Capitalized Subsequent to Acquisition	59
Gross Amount at Which Carried As of Year End
Land and improvements	992
Buildings and Improvements	11,752
Total	12,744
Accumulated Depreciation	(2,570)
483 Wichita, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	530
Building and Improvements	3,341
Costs Capitalized Subsequent to Acquisition	437
Gross Amount at Which Carried As of Year End
Land and improvements	605
Buildings and Improvements	3,703
Total	4,308
Accumulated Depreciation	(1,738)
3018 Wichita, KS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,946
Building and Improvements	39,795
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	3,946
Buildings and Improvements	39,795
Total	43,741
Accumulated Depreciation	(3,933)
1064 Lexington, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,726
Costs Capitalized Subsequent to Acquisition	2,213
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	14,939
Total	14,939
Accumulated Depreciation	(6,642)
735 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	936
Building and Improvements	8,426
Costs Capitalized Subsequent to Acquisition	13,840
Gross Amount at Which Carried As of Year End
Land and improvements	661
Buildings and Improvements	22,541
Total	23,202
Accumulated Depreciation	(12,657)
737 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	835
Building and Improvements	27,627
Costs Capitalized Subsequent to Acquisition	7,477
Gross Amount at Which Carried As of Year End
Land and improvements	560
Buildings and Improvements	35,379
Total	35,939
Accumulated Depreciation	(16,906)
738 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	780
Building and Improvements	8,582
Costs Capitalized Subsequent to Acquisition	4,544
Gross Amount at Which Carried As of Year End
Land and improvements	585
Buildings and Improvements	13,321
Total	13,906
Accumulated Depreciation	(10,521)
739 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	826
Building and Improvements	13,814
Costs Capitalized Subsequent to Acquisition	3,542
Gross Amount at Which Carried As of Year End
Land and improvements	602
Buildings and Improvements	17,580
Total	18,182
Accumulated Depreciation	(7,444)
2834 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,983
Building and Improvements	13,171
Costs Capitalized Subsequent to Acquisition	5,433
Gross Amount at Which Carried As of Year End
Land and improvements	2,983
Buildings and Improvements	18,604
Total	21,587
Accumulated Depreciation	(10,498)
1945 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,255
Building and Improvements	28,644
Costs Capitalized Subsequent to Acquisition	2,678
Gross Amount at Which Carried As of Year End
Land and improvements	3,365
Buildings and Improvements	31,212
Total	34,577
Accumulated Depreciation	(13,208)
1946 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	430
Building and Improvements	6,125
Costs Capitalized Subsequent to Acquisition	230
Gross Amount at Which Carried As of Year End
Land and improvements	430
Buildings and Improvements	6,355
Total	6,785
Accumulated Depreciation	(2,769)
2237 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,519
Building and Improvements	15,386
Costs Capitalized Subsequent to Acquisition	7,130
Gross Amount at Which Carried As of Year End
Land and improvements	1,672
Buildings and Improvements	22,363
Total	24,035
Accumulated Depreciation	(8,330)
2238 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,334
Building and Improvements	12,172
Costs Capitalized Subsequent to Acquisition	3,049
Gross Amount at Which Carried As of Year End
Land and improvements	1,558
Buildings and Improvements	14,997
Total	16,555
Accumulated Depreciation	(5,429)
2239 Louisville, KY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,644
Building and Improvements	10,832
Costs Capitalized Subsequent to Acquisition	9,879
Gross Amount at Which Carried As of Year End
Land and improvements	2,043
Buildings and Improvements	20,312
Total	22,355
Accumulated Depreciation	(7,588)
3023 Covington, LA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	9,490
Building and Improvements	21,918
Costs Capitalized Subsequent to Acquisition	128
Gross Amount at Which Carried As of Year End
Land and improvements	9,507
Buildings and Improvements	22,029
Total	31,536
Accumulated Depreciation	(2,254)
3121 Cambrigde, MA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	40,663
Building and Improvements	23,102
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	40,663
Buildings and Improvements	23,102
Total	63,765
Accumulated Depreciation	(1,776)
1213 Ellicott City, MD | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,115
Building and Improvements	3,206
Costs Capitalized Subsequent to Acquisition	3,013
Gross Amount at Which Carried As of Year End
Land and improvements	1,357
Buildings and Improvements	5,977
Total	7,334
Accumulated Depreciation	(2,657)
1052 Towson, MD | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	14,233
Costs Capitalized Subsequent to Acquisition	1,231
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	15,464
Total	15,464
Accumulated Depreciation	(6,004)
2650 Biddeford, ME | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,341
Building and Improvements	17,376
Costs Capitalized Subsequent to Acquisition	388
Gross Amount at Which Carried As of Year End
Land and improvements	1,341
Buildings and Improvements	17,764
Total	19,105
Accumulated Depreciation	(4,251)
3002 Burnsville, MN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	7,737
Initial Cost to Company
Land and improvements	2,801
Building and Improvements	17,779
Costs Capitalized Subsequent to Acquisition	1,151
Gross Amount at Which Carried As of Year End
Land and improvements	2,861
Buildings and Improvements	18,870
Total	21,731
Accumulated Depreciation	(3,424)
3003 Burnsville, MN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,158
Initial Cost to Company
Land and improvements	516
Building and Improvements	13,200
Costs Capitalized Subsequent to Acquisition	462
Gross Amount at Which Carried As of Year End
Land and improvements	533
Buildings and Improvements	13,645
Total	14,178
Accumulated Depreciation	(2,225)
3009 Burnsville, MN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	19,046
Initial Cost to Company
Land and improvements	4,640
Building and Improvements	38,064
Costs Capitalized Subsequent to Acquisition	333
Gross Amount at Which Carried As of Year End
Land and improvements	4,664
Buildings and Improvements	38,373
Total	43,037
Accumulated Depreciation	(3,990)
240 Minneapolis, MN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	117
Building and Improvements	13,213
Costs Capitalized Subsequent to Acquisition	5,337
Gross Amount at Which Carried As of Year End
Land and improvements	117
Buildings and Improvements	18,550
Total	18,667
Accumulated Depreciation	(11,776)
300 Minneapolis, MN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	160
Building and Improvements	10,131
Costs Capitalized Subsequent to Acquisition	5,086
Gross Amount at Which Carried As of Year End
Land and improvements	214
Buildings and Improvements	15,163
Total	15,377
Accumulated Depreciation	(9,547)
2703 Columbia, MO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	4,141
Building and Improvements	20,364
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	4,141
Buildings and Improvements	20,364
Total	24,505
Accumulated Depreciation	(2,696)
2032 Independence, MO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	48,025
Costs Capitalized Subsequent to Acquisition	1,872
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	49,897
Total	49,897
Accumulated Depreciation	(12,858)
2863 Lee's Summitt, MO | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	16,470
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	16,470
Total	16,470
Accumulated Depreciation	(2,633)
1078 Flowood, MS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,413
Costs Capitalized Subsequent to Acquisition	1,472
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,885
Total	9,885
Accumulated Depreciation	(4,097)
1059 Jackson, MS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,868
Costs Capitalized Subsequent to Acquisition	668
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,536
Total	9,536
Accumulated Depreciation	(4,090)
1060 Jackson, MS | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,187
Costs Capitalized Subsequent to Acquisition	2,038
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,225
Total	9,225
Accumulated Depreciation	(3,797)
1068 Omaha, NE | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	16,243
Costs Capitalized Subsequent to Acquisition	2,667
Gross Amount at Which Carried As of Year End
Land and improvements	24
Buildings and Improvements	18,886
Total	18,910
Accumulated Depreciation	(8,250)
2651 Charlotte, NC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,032
Building and Improvements	6,196
Costs Capitalized Subsequent to Acquisition	253
Gross Amount at Which Carried As of Year End
Land and improvements	1,032
Buildings and Improvements	6,449
Total	7,481
Accumulated Depreciation	(1,252)
2695 Charlotte, NC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	844
Building and Improvements	5,021
Costs Capitalized Subsequent to Acquisition	266
Gross Amount at Which Carried As of Year End
Land and improvements	844
Buildings and Improvements	5,287
Total	6,131
Accumulated Depreciation	(960)
2655 Wilmington, NC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,949
Building and Improvements	12,244
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	1,949
Buildings and Improvements	12,244
Total	14,193
Accumulated Depreciation	(2,749)
2656 Wilmington, NC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,071
Building and Improvements	11,592
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	2,071
Buildings and Improvements	11,592
Total	13,663
Accumulated Depreciation	(2,575)
2657 Shallotte, NC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	918
Building and Improvements	3,609
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	918
Buildings and Improvements	3,609
Total	4,527
Accumulated Depreciation	(1,106)
2647 Concord, NH | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,961
Building and Improvements	23,516
Costs Capitalized Subsequent to Acquisition	(614)
Gross Amount at Which Carried As of Year End
Land and improvements	1,032
Buildings and Improvements	23,831
Total	24,863
Accumulated Depreciation	(3,577)
2648 Concord, NH | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	815
Building and Improvements	8,902
Costs Capitalized Subsequent to Acquisition	172
Gross Amount at Which Carried As of Year End
Land and improvements	408
Buildings and Improvements	9,481
Total	9,889
Accumulated Depreciation	(2,073)
2649 Epsom, NH | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	919
Building and Improvements	5,868
Costs Capitalized Subsequent to Acquisition	(513)
Gross Amount at Which Carried As of Year End
Land and improvements	304
Buildings and Improvements	5,970
Total	6,274
Accumulated Depreciation	(1,174)
3011 Cherry Hill, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,235
Building and Improvements	21,731
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	5,235
Buildings and Improvements	21,731
Total	26,966
Accumulated Depreciation	(2,695)
3012 Morristown, NJ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	21,703
Building and Improvements	32,517
Costs Capitalized Subsequent to Acquisition	5,472
Gross Amount at Which Carried As of Year End
Land and improvements	21,703
Buildings and Improvements	37,989
Total	59,692
Accumulated Depreciation	(4,413)
3013 Morristown, NJ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	14,567
Building and Improvements	20,548
Costs Capitalized Subsequent to Acquisition	8,647
Gross Amount at Which Carried As of Year End
Land and improvements	14,567
Buildings and Improvements	29,195
Total	43,762
Accumulated Depreciation	(2,439)
3014 Morristown, NJ | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	20,563
Building and Improvements	31,849
Costs Capitalized Subsequent to Acquisition	1,721
Gross Amount at Which Carried As of Year End
Land and improvements	20,563
Buildings and Improvements	33,570
Total	54,133
Accumulated Depreciation	(2,591)
729 Albuquerque, NM | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	5,380
Costs Capitalized Subsequent to Acquisition	1,944
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	7,324
Total	7,324
Accumulated Depreciation	(2,828)
571 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	23,267
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	23,267
Total	23,267
Accumulated Depreciation	(9,353)
660 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,121
Building and Improvements	4,363
Costs Capitalized Subsequent to Acquisition	9,560
Gross Amount at Which Carried As of Year End
Land and improvements	1,147
Buildings and Improvements	13,897
Total	15,044
Accumulated Depreciation	(4,967)
661 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,305
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,371
Gross Amount at Which Carried As of Year End
Land and improvements	3,676
Buildings and Improvements	0
Total	3,676
Accumulated Depreciation	0
662 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	1,000
Buildings and Improvements	0
Total	1,000
Accumulated Depreciation	0
663 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,717
Building and Improvements	3,597
Costs Capitalized Subsequent to Acquisition	12,799
Gross Amount at Which Carried As of Year End
Land and improvements	1,724
Buildings and Improvements	16,389
Total	18,113
Accumulated Depreciation	(6,718)
664 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,172
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	633
Gross Amount at Which Carried As of Year End
Land and improvements	1,805
Buildings and Improvements	0
Total	1,805
Accumulated Depreciation	(433)
691 Las Vegas, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,073
Building and Improvements	18,339
Costs Capitalized Subsequent to Acquisition	8,001
Gross Amount at Which Carried As of Year End
Land and improvements	3,116
Buildings and Improvements	26,297
Total	29,413
Accumulated Depreciation	(16,290)
2037 Mesquite, NV | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	5,559
Costs Capitalized Subsequent to Acquisition	988
Gross Amount at Which Carried As of Year End
Land and improvements	34
Buildings and Improvements	6,513
Total	6,547
Accumulated Depreciation	(2,148)
400 Harrison, OH | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,561
Costs Capitalized Subsequent to Acquisition	366
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	4,927
Total	4,927
Accumulated Depreciation	(3,149)
1054 Durant, OK | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	619
Building and Improvements	9,256
Costs Capitalized Subsequent to Acquisition	3,111
Gross Amount at Which Carried As of Year End
Land and improvements	666
Buildings and Improvements	12,320
Total	12,986
Accumulated Depreciation	(5,294)
817 Owasso, OK | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,582
Costs Capitalized Subsequent to Acquisition	(443)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	6,139
Total	6,139
Accumulated Depreciation	(2,789)
404 Roseburg, OR | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	5,707
Costs Capitalized Subsequent to Acquisition	895
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	6,602
Total	6,602
Accumulated Depreciation	(3,892)
3010 Springfield, OR | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	20,732
Initial Cost to Company
Land and improvements	0
Building and Improvements	51,998
Costs Capitalized Subsequent to Acquisition	416
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	52,414
Total	52,414
Accumulated Depreciation	(5,426)
2570 Limerick, PA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	925
Building and Improvements	20,072
Costs Capitalized Subsequent to Acquisition	(119)
Gross Amount at Which Carried As of Year End
Land and improvements	755
Buildings and Improvements	20,123
Total	20,878
Accumulated Depreciation	(5,075)
2234 Philadelphia, PA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	24,264
Building and Improvements	99,904
Costs Capitalized Subsequent to Acquisition	50,137
Gross Amount at Which Carried As of Year End
Land and improvements	24,288
Buildings and Improvements	150,017
Total	174,305
Accumulated Depreciation	(43,316)
2403 Philadelphia, PA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	26,063
Building and Improvements	97,646
Costs Capitalized Subsequent to Acquisition	39,404
Gross Amount at Which Carried As of Year End
Land and improvements	26,134
Buildings and Improvements	136,979
Total	163,113
Accumulated Depreciation	(49,725)
2571 Wilkes-Barre, PA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,138
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,138
Total	9,138
Accumulated Depreciation	(2,550)
2694 Anderson, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	405
Building and Improvements	1,211
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried As of Year End
Land and improvements	405
Buildings and Improvements	1,211
Total	1,616
Accumulated Depreciation	(352)
2573 Florence, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,090
Costs Capitalized Subsequent to Acquisition	90
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	12,180
Total	12,180
Accumulated Depreciation	(2,712)
2574 Florence, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,190
Costs Capitalized Subsequent to Acquisition	87
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	12,277
Total	12,277
Accumulated Depreciation	(2,729)
2575 Florence, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	11,243
Costs Capitalized Subsequent to Acquisition	56
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,299
Total	11,299
Accumulated Depreciation	(3,076)
2841 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	634
Building and Improvements	38,386
Costs Capitalized Subsequent to Acquisition	1,277
Gross Amount at Which Carried As of Year End
Land and improvements	13
Buildings and Improvements	40,284
Total	40,297
Accumulated Depreciation	(9,241)
2842 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	794
Building and Improvements	41,293
Costs Capitalized Subsequent to Acquisition	211
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	42,298
Total	42,298
Accumulated Depreciation	(9,320)
2843 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	626
Building and Improvements	22,210
Costs Capitalized Subsequent to Acquisition	(368)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	22,468
Total	22,468
Accumulated Depreciation	(5,258)
2844 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	806
Building and Improvements	18,889
Costs Capitalized Subsequent to Acquisition	259
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	19,954
Total	19,954
Accumulated Depreciation	(4,349)
2845 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	932
Building and Improvements	40,879
Costs Capitalized Subsequent to Acquisition	(3,557)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	38,254
Total	38,254
Accumulated Depreciation	(5,148)
2846 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	896
Building and Improvements	38,486
Costs Capitalized Subsequent to Acquisition	205
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	39,587
Total	39,587
Accumulated Depreciation	(8,339)
2847 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	600
Building and Improvements	26,472
Costs Capitalized Subsequent to Acquisition	4,750
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	31,822
Total	31,822
Accumulated Depreciation	(8,164)
2850 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	211
Building and Improvements	6,503
Costs Capitalized Subsequent to Acquisition	153
Gross Amount at Which Carried As of Year End
Land and improvements	211
Buildings and Improvements	6,656
Total	6,867
Accumulated Depreciation	(1,920)
2853 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	534
Building and Improvements	6,430
Costs Capitalized Subsequent to Acquisition	(1,388)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,576
Total	5,576
Accumulated Depreciation	(1,038)
2854 Greenville, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	824
Building and Improvements	13,645
Costs Capitalized Subsequent to Acquisition	(512)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	13,957
Total	13,957
Accumulated Depreciation	(3,785)
2848 Greer, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	318
Building and Improvements	5,816
Costs Capitalized Subsequent to Acquisition	97
Gross Amount at Which Carried As of Year End
Land and improvements	318
Buildings and Improvements	5,913
Total	6,231
Accumulated Depreciation	(1,512)
2849 Greer, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	319
Building and Improvements	5,836
Costs Capitalized Subsequent to Acquisition	(777)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,378
Total	5,378
Accumulated Depreciation	(734)
2851 Travelers Rest, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	498
Building and Improvements	1,015
Costs Capitalized Subsequent to Acquisition	3
Gross Amount at Which Carried As of Year End
Land and improvements	299
Buildings and Improvements	1,217
Total	1,516
Accumulated Depreciation	(611)
2862 Myrtle Beach, SC | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	28,496
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	28,496
Total	28,496
Accumulated Depreciation	(6,051)
2865 Brentwood, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	35,219
Gross Amount at Which Carried As of Year End
Land and improvements	52
Buildings and Improvements	35,167
Total	35,219
Accumulated Depreciation	(3,870)
624 Hendersonville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	256
Building and Improvements	1,530
Costs Capitalized Subsequent to Acquisition	2,383
Gross Amount at Which Carried As of Year End
Land and improvements	256
Buildings and Improvements	3,913
Total	4,169
Accumulated Depreciation	(1,991)
559 Hermitage, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	830
Building and Improvements	5,036
Costs Capitalized Subsequent to Acquisition	13,157
Gross Amount at Which Carried As of Year End
Land and improvements	837
Buildings and Improvements	18,186
Total	19,023
Accumulated Depreciation	(6,882)
561 Hermitage, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	596
Building and Improvements	9,698
Costs Capitalized Subsequent to Acquisition	4,262
Gross Amount at Which Carried As of Year End
Land and improvements	596
Buildings and Improvements	13,960
Total	14,556
Accumulated Depreciation	(7,331)
562 Hermitage, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	317
Building and Improvements	6,528
Costs Capitalized Subsequent to Acquisition	2,979
Gross Amount at Which Carried As of Year End
Land and improvements	317
Buildings and Improvements	9,507
Total	9,824
Accumulated Depreciation	(4,491)
625 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	955
Building and Improvements	14,289
Costs Capitalized Subsequent to Acquisition	7,675
Gross Amount at Which Carried As of Year End
Land and improvements	955
Buildings and Improvements	21,964
Total	22,919
Accumulated Depreciation	(9,756)
626 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,050
Building and Improvements	5,211
Costs Capitalized Subsequent to Acquisition	5,198
Gross Amount at Which Carried As of Year End
Land and improvements	2,050
Buildings and Improvements	10,409
Total	12,459
Accumulated Depreciation	(3,987)
627 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,007
Building and Improvements	181
Costs Capitalized Subsequent to Acquisition	986
Gross Amount at Which Carried As of Year End
Land and improvements	1,113
Buildings and Improvements	1,061
Total	2,174
Accumulated Depreciation	(555)
628 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,980
Building and Improvements	7,164
Costs Capitalized Subsequent to Acquisition	3,046
Gross Amount at Which Carried As of Year End
Land and improvements	2,980
Buildings and Improvements	10,210
Total	13,190
Accumulated Depreciation	(4,235)
630 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	515
Building and Improvements	848
Costs Capitalized Subsequent to Acquisition	339
Gross Amount at Which Carried As of Year End
Land and improvements	515
Buildings and Improvements	1,187
Total	1,702
Accumulated Depreciation	(536)
631 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	266
Building and Improvements	1,305
Costs Capitalized Subsequent to Acquisition	1,266
Gross Amount at Which Carried As of Year End
Land and improvements	266
Buildings and Improvements	2,571
Total	2,837
Accumulated Depreciation	(1,450)
632 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	827
Building and Improvements	7,642
Costs Capitalized Subsequent to Acquisition	3,034
Gross Amount at Which Carried As of Year End
Land and improvements	827
Buildings and Improvements	10,676
Total	11,503
Accumulated Depreciation	(5,283)
633 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	5,425
Building and Improvements	12,577
Costs Capitalized Subsequent to Acquisition	5,720
Gross Amount at Which Carried As of Year End
Land and improvements	5,425
Buildings and Improvements	18,297
Total	23,722
Accumulated Depreciation	(8,059)
634 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,818
Building and Improvements	15,185
Costs Capitalized Subsequent to Acquisition	12,266
Gross Amount at Which Carried As of Year End
Land and improvements	3,818
Buildings and Improvements	27,451
Total	31,269
Accumulated Depreciation	(11,240)
636 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	583
Building and Improvements	450
Costs Capitalized Subsequent to Acquisition	424
Gross Amount at Which Carried As of Year End
Land and improvements	604
Buildings and Improvements	853
Total	1,457
Accumulated Depreciation	(372)
2967 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	52,503
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	52,503
Total	52,503
Accumulated Depreciation	(4,519)
2720 Nashville, TN | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	102
Building and Improvements	10,925
Costs Capitalized Subsequent to Acquisition	1,058
Gross Amount at Which Carried As of Year End
Land and improvements	102
Buildings and Improvements	11,983
Total	12,085
Accumulated Depreciation	(2,038)
2611 Allen, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,330
Building and Improvements	5,960
Costs Capitalized Subsequent to Acquisition	1,245
Gross Amount at Which Carried As of Year End
Land and improvements	1,374
Buildings and Improvements	7,161
Total	8,535
Accumulated Depreciation	(1,868)
2612 Allen, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,310
Building and Improvements	4,165
Costs Capitalized Subsequent to Acquisition	1,516
Gross Amount at Which Carried As of Year End
Land and improvements	1,310
Buildings and Improvements	5,681
Total	6,991
Accumulated Depreciation	(1,540)
573 Arlington, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	769
Building and Improvements	12,355
Costs Capitalized Subsequent to Acquisition	26,097
Gross Amount at Which Carried As of Year End
Land and improvements	769
Buildings and Improvements	38,452
Total	39,221
Accumulated Depreciation	(8,657)
2621 Cedar Park, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,617
Building and Improvements	11,640
Costs Capitalized Subsequent to Acquisition	950
Gross Amount at Which Carried As of Year End
Land and improvements	1,617
Buildings and Improvements	12,590
Total	14,207
Accumulated Depreciation	(2,144)
576 Conroe, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	324
Building and Improvements	4,842
Costs Capitalized Subsequent to Acquisition	4,171
Gross Amount at Which Carried As of Year End
Land and improvements	324
Buildings and Improvements	9,013
Total	9,337
Accumulated Depreciation	(3,998)
577 Conroe, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	397
Building and Improvements	7,966
Costs Capitalized Subsequent to Acquisition	2,981
Gross Amount at Which Carried As of Year End
Land and improvements	397
Buildings and Improvements	10,947
Total	11,344
Accumulated Depreciation	(4,740)
578 Conroe, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	388
Building and Improvements	7,975
Costs Capitalized Subsequent to Acquisition	2,576
Gross Amount at Which Carried As of Year End
Land and improvements	388
Buildings and Improvements	10,551
Total	10,939
Accumulated Depreciation	(4,587)
579 Conroe, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	188
Building and Improvements	3,618
Costs Capitalized Subsequent to Acquisition	1,045
Gross Amount at Which Carried As of Year End
Land and improvements	188
Buildings and Improvements	4,663
Total	4,851
Accumulated Depreciation	(2,423)
581 Corpus Christi, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	717
Building and Improvements	8,181
Costs Capitalized Subsequent to Acquisition	4,253
Gross Amount at Which Carried As of Year End
Land and improvements	717
Buildings and Improvements	12,434
Total	13,151
Accumulated Depreciation	(5,699)
600 Corpus Christi, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	328
Building and Improvements	3,210
Costs Capitalized Subsequent to Acquisition	1,913
Gross Amount at Which Carried As of Year End
Land and improvements	328
Buildings and Improvements	5,123
Total	5,451
Accumulated Depreciation	(2,851)
601 Corpus Christi, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	313
Building and Improvements	1,771
Costs Capitalized Subsequent to Acquisition	2,014
Gross Amount at Which Carried As of Year End
Land and improvements	325
Buildings and Improvements	3,773
Total	4,098
Accumulated Depreciation	(1,886)
2839 Cypress, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	37,639
Gross Amount at Which Carried As of Year End
Land and improvements	11
Buildings and Improvements	37,628
Total	37,639
Accumulated Depreciation	(12,404)
582 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,664
Building and Improvements	6,785
Costs Capitalized Subsequent to Acquisition	4,342
Gross Amount at Which Carried As of Year End
Land and improvements	1,718
Buildings and Improvements	11,073
Total	12,791
Accumulated Depreciation	(5,040)
1314 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	15,230
Building and Improvements	162,970
Costs Capitalized Subsequent to Acquisition	29,075
Gross Amount at Which Carried As of Year End
Land and improvements	23,630
Buildings and Improvements	183,645
Total	207,275
Accumulated Depreciation	(88,337)
1315 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	4,083
Gross Amount at Which Carried As of Year End
Land and improvements	17
Buildings and Improvements	4,066
Total	4,083
Accumulated Depreciation	(1,663)
1316 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	9,691
Gross Amount at Which Carried As of Year End
Land and improvements	64
Buildings and Improvements	9,627
Total	9,691
Accumulated Depreciation	(1,720)
1317 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	12,061
Gross Amount at Which Carried As of Year End
Land and improvements	166
Buildings and Improvements	11,895
Total	12,061
Accumulated Depreciation	(2,256)
1319 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	18,840
Building and Improvements	155,659
Costs Capitalized Subsequent to Acquisition	6,539
Gross Amount at Which Carried As of Year End
Land and improvements	18,840
Buildings and Improvements	162,198
Total	181,038
Accumulated Depreciation	(76,716)
2721 Dallas, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	31,707
Building and Improvements	2,000
Costs Capitalized Subsequent to Acquisition	347
Gross Amount at Which Carried As of Year End
Land and improvements	31,707
Buildings and Improvements	2,347
Total	34,054
Accumulated Depreciation	(1,998)
3007 Denton, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	5,654
Initial Cost to Company
Land and improvements	2,298
Building and Improvements	9,502
Costs Capitalized Subsequent to Acquisition	97
Gross Amount at Which Carried As of Year End
Land and improvements	2,338
Buildings and Improvements	9,559
Total	11,897
Accumulated Depreciation	(1,298)
3020 Frisco, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	27,201
Costs Capitalized Subsequent to Acquisition	1,214
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	28,415
Total	28,415
Accumulated Depreciation	(2,394)
3021 Frisco, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	26,181
Costs Capitalized Subsequent to Acquisition	2,186
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	28,367
Total	28,367
Accumulated Depreciation	(2,700)
583 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	898
Building and Improvements	4,866
Costs Capitalized Subsequent to Acquisition	4,115
Gross Amount at Which Carried As of Year End
Land and improvements	898
Buildings and Improvements	8,981
Total	9,879
Accumulated Depreciation	(4,168)
805 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	2,481
Costs Capitalized Subsequent to Acquisition	1,316
Gross Amount at Which Carried As of Year End
Land and improvements	45
Buildings and Improvements	3,752
Total	3,797
Accumulated Depreciation	(2,458)
806 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,070
Costs Capitalized Subsequent to Acquisition	1,206
Gross Amount at Which Carried As of Year End
Land and improvements	5
Buildings and Improvements	7,271
Total	7,276
Accumulated Depreciation	(3,310)
2619 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,180
Building and Improvements	13,432
Costs Capitalized Subsequent to Acquisition	1,910
Gross Amount at Which Carried As of Year End
Land and improvements	1,180
Buildings and Improvements	15,342
Total	16,522
Accumulated Depreciation	(2,149)
2620 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,961
Building and Improvements	14,155
Costs Capitalized Subsequent to Acquisition	1,521
Gross Amount at Which Carried As of Year End
Land and improvements	2,000
Buildings and Improvements	15,637
Total	17,637
Accumulated Depreciation	(2,272)
2982 Fort Worth, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,720
Building and Improvements	6,225
Costs Capitalized Subsequent to Acquisition	5,959
Gross Amount at Which Carried As of Year End
Land and improvements	2,719
Buildings and Improvements	12,185
Total	14,904
Accumulated Depreciation	(3,194)
1061 Granbury, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	6,863
Costs Capitalized Subsequent to Acquisition	1,321
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	8,184
Total	8,184
Accumulated Depreciation	(3,667)
430 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,927
Building and Improvements	33,140
Costs Capitalized Subsequent to Acquisition	20,350
Gross Amount at Which Carried As of Year End
Land and improvements	2,388
Buildings and Improvements	53,029
Total	55,417
Accumulated Depreciation	(31,358)
446 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,200
Building and Improvements	19,585
Costs Capitalized Subsequent to Acquisition	13,593
Gross Amount at Which Carried As of Year End
Land and improvements	2,936
Buildings and Improvements	32,442
Total	35,378
Accumulated Depreciation	(23,431)
589 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,676
Building and Improvements	12,602
Costs Capitalized Subsequent to Acquisition	15,520
Gross Amount at Which Carried As of Year End
Land and improvements	1,676
Buildings and Improvements	28,122
Total	29,798
Accumulated Depreciation	(8,121)
702 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,414
Costs Capitalized Subsequent to Acquisition	2,570
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	9,984
Total	9,984
Accumulated Depreciation	(4,628)
1044 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,838
Costs Capitalized Subsequent to Acquisition	6,971
Gross Amount at Which Carried As of Year End
Land and improvements	1,321
Buildings and Improvements	10,488
Total	11,809
Accumulated Depreciation	(3,602)
2542 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	304
Building and Improvements	17,764
Costs Capitalized Subsequent to Acquisition	(304)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	17,764
Total	17,764
Accumulated Depreciation	(4,314)
2543 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	116
Building and Improvements	6,555
Costs Capitalized Subsequent to Acquisition	(116)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	6,555
Total	6,555
Accumulated Depreciation	(1,857)
2544 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	312
Building and Improvements	12,094
Costs Capitalized Subsequent to Acquisition	(312)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	12,094
Total	12,094
Accumulated Depreciation	(3,427)
2545 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	316
Building and Improvements	13,931
Costs Capitalized Subsequent to Acquisition	(300)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	13,947
Total	13,947
Accumulated Depreciation	(2,960)
2546 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	408
Building and Improvements	18,332
Costs Capitalized Subsequent to Acquisition	740
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	19,480
Total	19,480
Accumulated Depreciation	(6,233)
2547 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	470
Building and Improvements	18,197
Costs Capitalized Subsequent to Acquisition	(250)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	18,417
Total	18,417
Accumulated Depreciation	(5,156)
2548 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	313
Building and Improvements	7,036
Costs Capitalized Subsequent to Acquisition	(140)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	7,209
Total	7,209
Accumulated Depreciation	(2,392)
2549 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	530
Building and Improvements	22,711
Costs Capitalized Subsequent to Acquisition	68
Gross Amount at Which Carried As of Year End
Land and improvements	530
Buildings and Improvements	22,779
Total	23,309
Accumulated Depreciation	(4,740)
2966 Houston, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	39,448
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	39,448
Total	39,448
Accumulated Depreciation	(2,576)
590 Irving, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	828
Building and Improvements	6,160
Costs Capitalized Subsequent to Acquisition	5,455
Gross Amount at Which Carried As of Year End
Land and improvements	828
Buildings and Improvements	11,615
Total	12,443
Accumulated Depreciation	(4,835)
700 Irving, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,550
Costs Capitalized Subsequent to Acquisition	3,091
Gross Amount at Which Carried As of Year End
Land and improvements	8
Buildings and Improvements	11,633
Total	11,641
Accumulated Depreciation	(5,109)
1207 Irving, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,955
Building and Improvements	12,793
Costs Capitalized Subsequent to Acquisition	4,699
Gross Amount at Which Carried As of Year End
Land and improvements	2,032
Buildings and Improvements	17,415
Total	19,447
Accumulated Depreciation	(6,471)
2840 Kingwood, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,035
Building and Improvements	28,373
Costs Capitalized Subsequent to Acquisition	464
Gross Amount at Which Carried As of Year End
Land and improvements	3,422
Buildings and Improvements	28,450
Total	31,872
Accumulated Depreciation	(6,005)
591 Lewisville, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	561
Building and Improvements	8,043
Costs Capitalized Subsequent to Acquisition	1,102
Gross Amount at Which Carried As of Year End
Land and improvements	561
Buildings and Improvements	9,145
Total	9,706
Accumulated Depreciation	(4,487)
144 Longview, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	102
Building and Improvements	7,998
Costs Capitalized Subsequent to Acquisition	988
Gross Amount at Which Carried As of Year End
Land and improvements	102
Buildings and Improvements	8,986
Total	9,088
Accumulated Depreciation	(5,735)
143 Lufkin, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	338
Building and Improvements	2,383
Costs Capitalized Subsequent to Acquisition	219
Gross Amount at Which Carried As of Year End
Land and improvements	338
Buildings and Improvements	2,602
Total	2,940
Accumulated Depreciation	(1,648)
568 McKinney, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	541
Building and Improvements	6,217
Costs Capitalized Subsequent to Acquisition	3,371
Gross Amount at Which Carried As of Year End
Land and improvements	541
Buildings and Improvements	9,588
Total	10,129
Accumulated Depreciation	(4,892)
569 McKinney, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	636
Costs Capitalized Subsequent to Acquisition	8,319
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	8,955
Total	8,955
Accumulated Depreciation	(4,506)
3216 McKinney, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	1,415
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	1,415
Total	1,415
Accumulated Depreciation	0
596 N Richland Hills, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	812
Building and Improvements	8,883
Costs Capitalized Subsequent to Acquisition	4,524
Gross Amount at Which Carried As of Year End
Land and improvements	812
Buildings and Improvements	13,407
Total	14,219
Accumulated Depreciation	(5,619)
2048 North Richland Hills, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,385
Building and Improvements	10,213
Costs Capitalized Subsequent to Acquisition	1,849
Gross Amount at Which Carried As of Year End
Land and improvements	1,400
Buildings and Improvements	12,047
Total	13,447
Accumulated Depreciation	(5,367)
2835 Pearland, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,014
Costs Capitalized Subsequent to Acquisition	4,238
Gross Amount at Which Carried As of Year End
Land and improvements	29
Buildings and Improvements	8,223
Total	8,252
Accumulated Depreciation	(3,217)
2838 Pearland, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	18,363
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	18,363
Total	18,363
Accumulated Depreciation	(5,422)
597 Plano, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,210
Building and Improvements	9,588
Costs Capitalized Subsequent to Acquisition	7,506
Gross Amount at Which Carried As of Year End
Land and improvements	1,225
Buildings and Improvements	17,079
Total	18,304
Accumulated Depreciation	(6,930)
672 Plano, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,389
Building and Improvements	12,768
Costs Capitalized Subsequent to Acquisition	3,922
Gross Amount at Which Carried As of Year End
Land and improvements	1,389
Buildings and Improvements	16,690
Total	18,079
Accumulated Depreciation	(6,958)
1384 Plano, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	6,290
Building and Improvements	22,686
Costs Capitalized Subsequent to Acquisition	7,966
Gross Amount at Which Carried As of Year End
Land and improvements	6,290
Buildings and Improvements	30,652
Total	36,942
Accumulated Depreciation	(24,603)
2653 Rockwall, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	788
Building and Improvements	9,020
Costs Capitalized Subsequent to Acquisition	2
Gross Amount at Which Carried As of Year End
Land and improvements	788
Buildings and Improvements	9,022
Total	9,810
Accumulated Depreciation	(1,847)
815 San Antonio, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,193
Costs Capitalized Subsequent to Acquisition	3,285
Gross Amount at Which Carried As of Year End
Land and improvements	75
Buildings and Improvements	12,403
Total	12,478
Accumulated Depreciation	(5,948)
816 San Antonio, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	1,552
Initial Cost to Company
Land and improvements	0
Building and Improvements	8,699
Costs Capitalized Subsequent to Acquisition	13,192
Gross Amount at Which Carried As of Year End
Land and improvements	175
Buildings and Improvements	21,716
Total	21,891
Accumulated Depreciation	(6,649)
2837 San Antonio, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	26,191
Costs Capitalized Subsequent to Acquisition	4,115
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	30,306
Total	30,306
Accumulated Depreciation	(12,352)
2852 Shenandoah, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	29,980
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	29,980
Total	29,980
Accumulated Depreciation	(8,235)
598 Sugar Land, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,078
Building and Improvements	5,158
Costs Capitalized Subsequent to Acquisition	3,261
Gross Amount at Which Carried As of Year End
Land and improvements	1,164
Buildings and Improvements	8,333
Total	9,497
Accumulated Depreciation	(3,579)
599 Texas City, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	9,519
Costs Capitalized Subsequent to Acquisition	1,971
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,490
Total	11,490
Accumulated Depreciation	(4,972)
152 Victoria, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	125
Building and Improvements	8,977
Costs Capitalized Subsequent to Acquisition	535
Gross Amount at Which Carried As of Year End
Land and improvements	125
Buildings and Improvements	9,512
Total	9,637
Accumulated Depreciation	(5,842)
2198 Webster, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	2,220
Building and Improvements	9,602
Costs Capitalized Subsequent to Acquisition	142
Gross Amount at Which Carried As of Year End
Land and improvements	2,220
Buildings and Improvements	9,744
Total	11,964
Accumulated Depreciation	(3,920)
3024 Webster, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,196
Building and Improvements	12,911
Costs Capitalized Subsequent to Acquisition	(28)
Gross Amount at Which Carried As of Year End
Land and improvements	3,212
Buildings and Improvements	12,867
Total	16,079
Accumulated Depreciation	(892)
3025 Webster, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,209
Building and Improvements	23,782
Costs Capitalized Subsequent to Acquisition	114
Gross Amount at Which Carried As of Year End
Land and improvements	3,225
Buildings and Improvements	23,880
Total	27,105
Accumulated Depreciation	(1,571)
2550 The Woodlands, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	115
Building and Improvements	5,141
Costs Capitalized Subsequent to Acquisition	(115)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,141
Total	5,141
Accumulated Depreciation	(1,249)
2551 The Woodlands, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	296
Building and Improvements	18,282
Costs Capitalized Subsequent to Acquisition	(296)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	18,282
Total	18,282
Accumulated Depreciation	(3,885)
2552 The Woodlands, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	374
Building and Improvements	25,125
Costs Capitalized Subsequent to Acquisition	(374)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	25,125
Total	25,125
Accumulated Depreciation	(4,746)
3215 Wylie, TX | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	874
Building and Improvements	4,122
Costs Capitalized Subsequent to Acquisition	(64)
Gross Amount at Which Carried As of Year End
Land and improvements	874
Buildings and Improvements	4,058
Total	4,932
Accumulated Depreciation	(180)
1592 Bountiful, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	999
Building and Improvements	7,426
Costs Capitalized Subsequent to Acquisition	1,963
Gross Amount at Which Carried As of Year End
Land and improvements	1,019
Buildings and Improvements	9,369
Total	10,388
Accumulated Depreciation	(3,953)
169 Bountiful, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	276
Building and Improvements	5,237
Costs Capitalized Subsequent to Acquisition	4,602
Gross Amount at Which Carried As of Year End
Land and improvements	599
Buildings and Improvements	9,516
Total	10,115
Accumulated Depreciation	(4,262)
2035 Draper, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	3,952
Initial Cost to Company
Land and improvements	0
Building and Improvements	10,803
Costs Capitalized Subsequent to Acquisition	561
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,364
Total	11,364
Accumulated Depreciation	(2,826)
469 Kaysville, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	530
Building and Improvements	4,493
Costs Capitalized Subsequent to Acquisition	426
Gross Amount at Which Carried As of Year End
Land and improvements	530
Buildings and Improvements	4,919
Total	5,449
Accumulated Depreciation	(2,245)
456 Layton, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	371
Building and Improvements	7,073
Costs Capitalized Subsequent to Acquisition	2,191
Gross Amount at Which Carried As of Year End
Land and improvements	401
Buildings and Improvements	9,234
Total	9,635
Accumulated Depreciation	(5,132)
2042 Layton, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	10,975
Costs Capitalized Subsequent to Acquisition	1,831
Gross Amount at Which Carried As of Year End
Land and improvements	44
Buildings and Improvements	12,762
Total	12,806
Accumulated Depreciation	(3,379)
2864 Washington Terrace, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition	19,898
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	19,898
Total	19,898
Accumulated Depreciation	(3,091)
357 Orem, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	337
Building and Improvements	8,744
Costs Capitalized Subsequent to Acquisition	1,177
Gross Amount at Which Carried As of Year End
Land and improvements	306
Buildings and Improvements	9,952
Total	10,258
Accumulated Depreciation	(6,286)
353 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	190
Building and Improvements	779
Costs Capitalized Subsequent to Acquisition	238
Gross Amount at Which Carried As of Year End
Land and improvements	273
Buildings and Improvements	934
Total	1,207
Accumulated Depreciation	(628)
354 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	220
Building and Improvements	10,732
Costs Capitalized Subsequent to Acquisition	4,186
Gross Amount at Which Carried As of Year End
Land and improvements	220
Buildings and Improvements	14,918
Total	15,138
Accumulated Depreciation	(8,926)
355 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	180
Building and Improvements	14,792
Costs Capitalized Subsequent to Acquisition	5,141
Gross Amount at Which Carried As of Year End
Land and improvements	180
Buildings and Improvements	19,933
Total	20,113
Accumulated Depreciation	(11,708)
467 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	3,000
Building and Improvements	7,541
Costs Capitalized Subsequent to Acquisition	2,459
Gross Amount at Which Carried As of Year End
Land and improvements	3,019
Buildings and Improvements	9,981
Total	13,000
Accumulated Depreciation	(5,598)
566 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	509
Building and Improvements	4,044
Costs Capitalized Subsequent to Acquisition	3,763
Gross Amount at Which Carried As of Year End
Land and improvements	509
Buildings and Improvements	7,807
Total	8,316
Accumulated Depreciation	(3,555)
2041 Salt Lake City, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,326
Costs Capitalized Subsequent to Acquisition	877
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	13,203
Total	13,203
Accumulated Depreciation	(3,406)
2033 Sandy, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	867
Building and Improvements	3,513
Costs Capitalized Subsequent to Acquisition	2,919
Gross Amount at Which Carried As of Year End
Land and improvements	1,356
Buildings and Improvements	5,943
Total	7,299
Accumulated Depreciation	(3,380)
351 Washington Terrace, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,573
Costs Capitalized Subsequent to Acquisition	1,317
Gross Amount at Which Carried As of Year End
Land and improvements	17
Buildings and Improvements	5,873
Total	5,890
Accumulated Depreciation	(3,724)
352 Washington Terrace, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	2,692
Costs Capitalized Subsequent to Acquisition	641
Gross Amount at Which Carried As of Year End
Land and improvements	15
Buildings and Improvements	3,318
Total	3,333
Accumulated Depreciation	(2,231)
2034 West Jordan, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	12,021
Costs Capitalized Subsequent to Acquisition	(177)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,844
Total	11,844
Accumulated Depreciation	(3,016)
2036 West Jordan, UT | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	1,383
Costs Capitalized Subsequent to Acquisition	1,328
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	2,711
Total	2,711
Accumulated Depreciation	(1,655)
1208 Fairfax, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	8,396
Building and Improvements	16,710
Costs Capitalized Subsequent to Acquisition	12,121
Gross Amount at Which Carried As of Year End
Land and improvements	8,781
Buildings and Improvements	28,446
Total	37,227
Accumulated Depreciation	(15,291)
2230 Fredericksburg, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	1,101
Building and Improvements	8,570
Costs Capitalized Subsequent to Acquisition	156
Gross Amount at Which Carried As of Year End
Land and improvements	1,113
Buildings and Improvements	8,714
Total	9,827
Accumulated Depreciation	(2,308)
3001 Leesburg, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	10,217
Initial Cost to Company
Land and improvements	3,549
Building and Improvements	24,059
Costs Capitalized Subsequent to Acquisition	4,826
Gross Amount at Which Carried As of Year End
Land and improvements	3,549
Buildings and Improvements	28,885
Total	32,434
Accumulated Depreciation	(3,912)
3015 Midlothian, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	12,688
Initial Cost to Company
Land and improvements	0
Building and Improvements	21,442
Costs Capitalized Subsequent to Acquisition	10
Gross Amount at Which Carried As of Year End
Land and improvements	59
Buildings and Improvements	21,393
Total	21,452
Accumulated Depreciation	(1,653)
3016 Midlothian, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	11,994
Initial Cost to Company
Land and improvements	0
Building and Improvements	20,610
Costs Capitalized Subsequent to Acquisition	(137)
Gross Amount at Which Carried As of Year End
Land and improvements	32
Buildings and Improvements	20,441
Total	20,473
Accumulated Depreciation	(1,766)
3017 Midlothian, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	13,878
Initial Cost to Company
Land and improvements	0
Building and Improvements	22,531
Costs Capitalized Subsequent to Acquisition	176
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	22,707
Total	22,707
Accumulated Depreciation	(2,846)
572 Reston, VA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	11,902
Costs Capitalized Subsequent to Acquisition	(864)
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	11,038
Total	11,038
Accumulated Depreciation	(5,515)
448 Renton, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	18,724
Costs Capitalized Subsequent to Acquisition	3,750
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	22,474
Total	22,474
Accumulated Depreciation	(13,933)
781 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	52,703
Costs Capitalized Subsequent to Acquisition	10,129
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	62,832
Total	62,832
Accumulated Depreciation	(31,470)
782 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	24,382
Costs Capitalized Subsequent to Acquisition	22,413
Gross Amount at Which Carried As of Year End
Land and improvements	104
Buildings and Improvements	46,691
Total	46,795
Accumulated Depreciation	(16,953)
783 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	5,625
Costs Capitalized Subsequent to Acquisition	1,607
Gross Amount at Which Carried As of Year End
Land and improvements	211
Buildings and Improvements	7,021
Total	7,232
Accumulated Depreciation	(6,247)
785 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	7,293
Costs Capitalized Subsequent to Acquisition	1,475
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	8,768
Total	8,768
Accumulated Depreciation	(5,205)
1385 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	45,027
Costs Capitalized Subsequent to Acquisition	17,489
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	62,516
Total	62,516
Accumulated Depreciation	(26,972)
3022 Seattle, WA | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	35,624
Building and Improvements	4,176
Costs Capitalized Subsequent to Acquisition	1
Gross Amount at Which Carried As of Year End
Land and improvements	35,625
Buildings and Improvements	4,176
Total	39,801
Accumulated Depreciation	(1,898)
2038 Evanston, WY | Outpatient Medical | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	0
Building and Improvements	4,601
Costs Capitalized Subsequent to Acquisition	1,204
Gross Amount at Which Carried As of Year End
Land and improvements	0
Buildings and Improvements	5,805
Total	5,805
Accumulated Depreciation	(1,953)
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 and improvements	6,193
Building and Improvements	32,146
Costs Capitalized Subsequent to Acquisition	6,411
Gross Amount at Which Carried As of Year End
Land and improvements	6,670
Buildings and Improvements	38,080
Total	44,750
Accumulated Depreciation	(7,612)
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 and improvements	5,496
Building and Improvements	95,671
Costs Capitalized Subsequent to Acquisition	27,694
Gross Amount at Which Carried As of Year End
Land and improvements	6,228
Buildings and Improvements	122,633
Total	128,861
Accumulated Depreciation	(21,444)
2997 Clearwater, FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	66,436
Initial Cost to Company
Land and improvements	6,680
Building and Improvements	132,521
Costs Capitalized Subsequent to Acquisition	20,619
Gross Amount at Which Carried As of Year End
Land and improvements	7,195
Buildings and Improvements	152,625
Total	159,820
Accumulated Depreciation	(21,252)
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 and improvements	19,660
Building and Improvements	167,860
Costs Capitalized Subsequent to Acquisition	22,367
Gross Amount at Which Carried As of Year End
Land and improvements	21,042
Buildings and Improvements	188,845
Total	209,887
Accumulated Depreciation	(29,940)
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 and improvements	8,941
Building and Improvements	65,698
Costs Capitalized Subsequent to Acquisition	16,620
Gross Amount at Which Carried As of Year End
Land and improvements	9,779
Buildings and Improvements	81,480
Total	91,259
Accumulated Depreciation	(14,936)
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 and improvements	5,344
Building and Improvements	159,612
Costs Capitalized Subsequent to Acquisition	16,205
Gross Amount at Which Carried As of Year End
Land and improvements	6,008
Buildings and Improvements	175,153
Total	181,161
Accumulated Depreciation	(23,576)
2998 Seminole, FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	43,235
Initial Cost to Company
Land and improvements	14,080
Building and Improvements	77,485
Costs Capitalized Subsequent to Acquisition	13,228
Gross Amount at Which Carried As of Year End
Land and improvements	15,030
Buildings and Improvements	89,763
Total	104,793
Accumulated Depreciation	(11,367)
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 and improvements	13,915
Building and Improvements	125,796
Costs Capitalized Subsequent to Acquisition	16,519
Gross Amount at Which Carried As of Year End
Land and improvements	14,698
Buildings and Improvements	141,532
Total	156,230
Accumulated Depreciation	(23,135)
3092 Sun City Center, FL | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	25,254
Building and Improvements	175,535
Costs Capitalized Subsequent to Acquisition	21,862
Gross Amount at Which Carried As of Year End
Land and improvements	26,460
Buildings and Improvements	196,191
Total	222,651
Accumulated Depreciation	(36,004)
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 and improvements	7,091
Building and Improvements	120,493
Costs Capitalized Subsequent to Acquisition	16,363
Gross Amount at Which Carried As of Year End
Land and improvements	7,331
Buildings and Improvements	136,616
Total	143,947
Accumulated Depreciation	(21,450)
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 and improvements	1,572
Building and Improvements	88,960
Costs Capitalized Subsequent to Acquisition	10,401
Gross Amount at Which Carried As of Year End
Land and improvements	1,898
Buildings and Improvements	99,035
Total	100,933
Accumulated Depreciation	(15,129)
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 and improvements	16,443
Building and Improvements	126,243
Costs Capitalized Subsequent to Acquisition	17,270
Gross Amount at Which Carried As of Year End
Land and improvements	17,064
Buildings and Improvements	142,892
Total	159,956
Accumulated Depreciation	(20,601)
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 and improvements	16,461
Building and Improvements	108,816
Costs Capitalized Subsequent to Acquisition	24,097
Gross Amount at Which Carried As of Year End
Land and improvements	16,461
Buildings and Improvements	132,913
Total	149,374
Accumulated Depreciation	(52,714)
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 and improvements	3,210
Building and Improvements	30,085
Costs Capitalized Subsequent to Acquisition	11,821
Gross Amount at Which Carried As of Year End
Land and improvements	3,524
Buildings and Improvements	41,592
Total	45,116
Accumulated Depreciation	(5,695)
3081 Fort Belvoir, VA | Continuing care retirement community | Operating segment
Real Estate and Accumulated Depreciation
Encumbrances as of Year end	0
Initial Cost to Company
Land and improvements	11,594
Building and Improvements	99,528
Costs Capitalized Subsequent to Acquisition	19,948
Gross Amount at Which Carried As of Year End
Land and improvements	11,594
Buildings and Improvements	119,476
Total	131,070
Accumulated Depreciation	$ (51,408)

Schedule III_ Real Estate and_3

Schedule III: Real Estate and Accumulated Depreciation - Amount that Tax Basis of Net Real Estate Assets Less Than the Reported Amounts (Details) $ in Millions	Dec. 31, 2023 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	$ 900
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated depreciation:
Deconsolidation of real estate	$ 0	$ (89,766)	$ 0
Continuing Operations
Real estate:
Balances at beginning of year	16,211,621	15,506,658	13,528,893
Acquisition of real estate and development and improvements	754,225	1,102,593	2,157,539
Sales and/or transfers to assets held for sale	(137,731)	(82,350)	(72,819)
Deconsolidation of real estate	0	(189,605)	0
Impairments	0	0	(21,294)
Other	(207,801)	(125,675)	(85,661)
Balances at end of year	16,620,314	16,211,621	15,506,658
Accumulated depreciation:
Balances at beginning of year	3,188,138	2,839,229	2,409,135
Depreciation expense	609,461	575,125	548,063
Sales and/or transfers to assets held for sale	(12,711)	(30,428)	(32,692)
Other	(192,937)	(106,022)	(85,277)
Balances at end of year	3,591,951	3,188,138	2,839,229
Discontinued Operations
Real estate:
Balances at beginning of year	0	0	2,930,566
Acquisition of real estate and development and improvements	0	0	8,238
Sales and/or transfers to assets held for sale	0	0	(2,929,713)
Impairments	0	0	(5,315)
Other	0	0	(3,776)
Balances at end of year	0	0	0
Accumulated depreciation:
Balances at beginning of year	0	0	615,708
Sales and/or transfers to assets held for sale	0	0	(615,708)
Balances at end of year	$ 0	$ 0	$ 0

Schedule IV_ Mortgage Loans o_2

Schedule IV: Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Face Amount of Mortgages	178,678
Carrying Amount of Mortgages	175,717	$ 341,749	$ 390,291	$ 157,572
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of properties with first mortgages | property	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	4%
Prior Liens	$ 0
Face Amount of Mortgages	130,678
Carrying Amount of Mortgages	128,027
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2024 | Secured Overnight Financing Rate (SOFR) | 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	0.10%
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	10
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	7%
Prior Liens	$ 0
Face Amount of Mortgages	48,000
Carrying Amount of Mortgages	47,690
Principal Amount Subject to Delinquent Principal or Interest	$ 0
Mortgage loan on real estate, multiple due 2023 | Secured Overnight Financing Rate (SOFR) | 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	0.11%

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, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 341,749	$ 390,291	$ 157,572
New mortgage loans	0	0	310,338
Draws and additions to existing mortgage loans	11,602	5,525	9,370
Total additions	11,602	5,525	319,708
Principal repayments	(183,084)	(47,591)	(84,486)
Reserve for loan losses	5,450	(6,476)	(2,503)
Total deductions	(177,634)	(54,067)	(86,989)
Balance at end of year	$ 175,717	$ 341,749	$ 390,291