Universal Health Realty Income Trust (UHT) 10-K 26 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Registrant Name	UNIVERSAL HEALTH REALTY INCOME TRUST
Entity Central Index Key	0000798783
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		13,850,613
Entity Public Float			$ 503.1
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-9321
Entity Tax Identification Number	23-6858580
Entity Address, Address Line One	Universal Corporate Center
Entity Address, Address Line Two	367 South Gulph Road
Entity Address, Address Line Three	P.O. Box 61558
Entity Address, City or Town	King of Prussia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19406-0958
City Area Code	610
Local Phone Number	265-0688
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	MD
Trading Symbol	UHT
Security Exchange Name	NYSE
Title of 12(b) Security	Shares of beneficial interest, $0.01 par value
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Philadelphia, Pennsylvania
Auditor Opinion	Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheets of Universal Health Realty Income Trust and subsidiaries (the Company) as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income, changes in equity, and cash flows for each of the years in the three-year period ended December 31, 2024, and the related notes and financial statement schedule III (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February 26, 2025 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for our 2025 Annual Meeting of Shareholders, which will be filed with the Securities and Exchange Commission within 120 days after December 31, 2024 (incorporated by reference under Part III).

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024		Dec. 31, 2023
Real Estate Investments:
Buildings and improvements and construction in progress	$ 655,996		$ 649,374
Accumulated depreciation	(286,932)	[1]	(262,449)
Real Estate Investment Property, Net, Total	369,064		386,925
Land	56,870		56,870
Net Real Estate Investments	425,934		443,795
Financing receivable from UHS	82,798		83,279
Net Real Estate Investments and Financing receivable	508,732		527,074
Investments in and advances to limited liability companies ("LLCs")	13,948		9,102
Other Assets:
Cash and cash equivalents	7,097		8,212
Lease and other receivables from UHS	7,131		6,180
Lease receivable - other	7,975		8,166
Intangible assets (net of accumulated amortization of $11.3 million and $12.5 million, respectively)	7,325		9,110
Right-of-use land assets, net	10,918		10,946
Deferred charges, notes receivable and other assets, net	17,736		17,579
Total Assets	580,862		596,369
Liabilities:
Line of credit borrowings	348,900		326,600
Mortgage notes payable, non-recourse to us, net	19,349		32,863
Accrued interest	694		490
Accrued expenses and other liabilities	10,444		13,500
Ground lease liabilities, net	10,918		10,946
Tenant reserves, deposits and deferred and prepaid rents	11,016		11,036
Total Liabilities	401,321		395,435
Equity:
Preferred shares of beneficial interest, $.01 par value; 5,000,000 shares authorized; none issued and outstanding
Common shares, $.01 par value; 95,000,000 shares authorized; issued and outstanding: 2024 - 13,850,608; 2023 - 13,823,899	138		138
Capital in excess of par value	271,092		270,398
Cumulative net income and other	845,295		826,061
Cumulative dividends	(943,396)		(902,975)
Accumulated other comprehensive income	6,412		7,312
Total Equity	179,541		200,934
Total Liabilities and Equity	$ 580,862		$ 596,369
[1] The aggregate cost for federal income tax purposes is $ 726 million (unaudited) with a net book value of $ 421 million (unaudited).

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Intangible assets, accumulated amortization	$ 11.3	$ 12.5
Preferred shares of beneficial interest, par value	$ 0.01	$ 0.01
Preferred shares of beneficial interest, shares authorized	5,000,000	5,000,000
Preferred shares of beneficial interest, issued	0	0
Preferred shares of beneficial interest, outstanding	0	0
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	95,000,000	95,000,000
Common shares, issued	13,850,608	13,823,899
Common shares, outstanding	13,850,608	13,823,899

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Revenues, Total		$ 99,011	$ 95,575	$ 90,625
Expenses:
Depreciation and amortization		27,421	27,733	26,557
Other operating expenses		29,313	31,170	28,305
Costs and Expenses, Total		62,215	64,226	59,959
Income before equity in income of unconsolidated limited liability companies ("LLCs"), loss on divestiture and interest expense		36,796	31,349	30,666
Equity in income of unconsolidated LLCs		1,279	1,207	1,191
Loss on divestiture of real estate assets			(232)
Interest expense, net		(18,841)	(16,924)	(10,755)
Net income		$ 19,234	$ 15,400	$ 21,102
Basic earnings per share		$ 1.39	$ 1.12	$ 1.53
Diluted earnings per share		$ 1.39	$ 1.11	$ 1.53
Weighted average number of shares outstanding - Basic		13,802	13,786	13,771
Weighted average number of share equivalents		37	28	24
Weighted average number of shares and equivalents outstanding - Diluted		13,839	13,814	13,795
Management Service
Expenses:
Advisory fees to UHS		$ 5,481	$ 5,323	$ 5,097
UHS Facilities
Revenues:
Lease revenue	[1]	33,627	32,623	29,954
Interest income on financing leases - UHS facilities		5,432	5,458	5,474
UHS Facilities | Other
Revenues:
Other revenue		902	946	948
Non-Related Parties
Revenues:
Lease revenue		57,660	54,993	52,004
Non-Related Parties | Other
Revenues:
Other revenue		$ 1,390	$ 1,555	$ 2,245
[1] Includes bonus rental on McAllen Medical Center, a UHS acute care hospital facility, o f $ 3,107 , $ 2,953 and $ 2,801 for the years ended December 31, 2024, 2023 and 2022, respectively .

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
McAllen Medical Center | UHS Hospital Facilities
Bonus rental	$ 3,107	$ 2,953	$ 2,801

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 19,234	$ 15,400	$ 21,102
Other comprehensive income/(loss):
Unrealized derivative (loss)/gain on cash flow hedges	(900)	(4,699)	10,898
Total other comprehensive (loss)/income:	(900)	(4,699)	10,898
Total comprehensive income	$ 18,334	$ 10,701	$ 32,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Capital in excess of par value	Cumulative net income	Cumulative dividends	Accumulated other comprehensive income/(loss)
Balance at Dec. 31, 2021	$ 235,327	$ 138	$ 268,515	$ 789,559	$ (823,998)	$ 1,113
Balance, Shares at Dec. 31, 2021		13,785
Shares of Beneficial Interest:
Issued	177		177
Issued (in shares)		18
Restricted stock-based compensation expense	780		780
Dividends	(39,183)				(39,183)
Comprehensive income:
Net income	21,102			21,102
Unrealized net gain/(loss) on cash flow hedges	10,898					10,898
Subtotal - comprehensive income	32,000			21,102		10,898
Balance at Dec. 31, 2022	229,101	$ 138	269,472	810,661	(863,181)	12,011
Balance, Shares at Dec. 31, 2022		13,803
Shares of Beneficial Interest:
Issued	146		146
Issued (in shares)		21
Restricted stock-based compensation expense	780		780
Dividends	(39,794)				(39,794)
Comprehensive income:
Net income	15,400			15,400
Unrealized net gain/(loss) on cash flow hedges	(4,699)					(4,699)
Subtotal - comprehensive income	10,701			15,400		(4,699)
Balance at Dec. 31, 2023	200,934	$ 138	270,398	826,061	(902,975)	7,312
Balance, Shares at Dec. 31, 2023		13,824
Shares of Beneficial Interest:
Issued	(131)		(131)
Issued (in shares)		27
Repurchased	(28)		(28)
Restricted stock-based compensation expense	853		853
Dividends	(40,421)				(40,421)
Comprehensive income:
Net income	19,234			19,234
Unrealized net gain/(loss) on cash flow hedges	(900)					(900)
Subtotal - comprehensive income	18,334			19,234		(900)
Balance at Dec. 31, 2024	$ 179,541	$ 138	$ 271,092	$ 845,295	$ (943,396)	$ 6,412
Balance, Shares at Dec. 31, 2024		13,851

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividend Per Share	$ 2.92	$ 2.88	$ 2.84

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 19,234	$ 15,400	$ 21,102
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,421	27,733	26,557
Amortization related to above/below market leases, net	(176)	(143)	(143)
Amortization of debt premium		(40)	(50)
Amortization of deferred financing costs	765	729	714
Stock-based compensation expense	853	780	780
Loss on divestiture of real estate assets		232
Changes in assets and liabilities:
Lease receivables	(760)	(513)	(2,083)
Accrued expenses and other liabilities	(309)	(316)	1,105
Tenant reserves, deposits and deferred and prepaid rents	(20)	(516)	(79)
Accrued interest	204	117	27
Leasing costs paid	(1,268)	(1,768)	(1,927)
Other, net	967	1,244	802
Net cash provided by operating activities	46,911	42,939	46,805
Cash flows from investing activities:
Investments in LLCs	(5,892)	(4,058)	(94)
Cash distributions from LLCs	1,088	757	875
Advance received from LLC, net		3,500
Additions to real estate investments, net	(9,072)	(15,583)	(22,485)
Cash paid for acquisition of properties		(7,620)	(13,620)
Net cash paid as part of asset exchange transaction			(1,346)
Cash proceeds received from divestiture of properties, net		3,894
Net cash used in investing activities	(13,876)	(19,110)	(36,670)
Cash flows from financing activities:
Net borrowings on line of credit	22,300	28,500	26,200
Repayments of mortgage notes payable	(13,550)	(11,891)	(12,199)
Financing costs paid	(2,375)	(222)	(26)
Dividends paid	(40,394)	(39,765)	(39,177)
Issuance of shares of beneficial interest, net	(131)	147	177
Net cash used in financing activities	(34,150)	(23,231)	(25,025)
(Decrease)/increase in cash and cash equivalents	(1,115)	598	(14,890)
Cash and cash equivalents, beginning of year	8,212	7,614	22,504
Cash and cash equivalents, end of year	7,097	8,212	7,614
Supplemental disclosures of cash flow information:
Interest paid	17,908	16,266	10,386
Invoices accrued for construction and improvements	$ 522	$ 2,947	$ 1,664

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy, and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. Cybersecurity In connection with the advisory agreement with a wholly-owned subsidiary of UHS, as discussed herein, we utilize certain of UHS' information technology ("IT") applications, consisting primarily of financial data applications. In addition, UHS and our third-party property managers rely extensively on IT systems to, as applicable, manage clinical and financial data, communicate with patients, tenants, payers, vendors and other third parties ; and to summarize and analyze operating results. These various IT systems, and the networks and information systems of third parties that we, UHS and our third-party property managers rely on, are subject to damage or interruption from power outages, facility damage, computer and telecommunications failures, computer viruses, security breaches including credit card or personally identifiable information breaches, vandalism, theft, natural disasters, catastrophic events, human error and potential cyber threats, including malicious codes, worms, phishing attacks, denial of service attacks, ransomware and other sophisticated cyber-attacks, and our disaster recovery planning cannot account for all eventualities. These systems, in turn, interface with, and rely on, third-party systems that we do not control. Third parties to whom we outsource certain of our functions, or with whom our systems interface and who may, in some instances, store our sensitive and confidential data, are also subject to the risks outlined above and may not have or use controls effective to protect such information. An attack, breach or other system disruption affecting any of these third parties could similarly harm our business. Cybersecurity Risk Management and Strategy As cyber criminals continue to become more sophisticated through evolution of their tactics, techniques and procedures, we, UHS and our third-party property managers have taken, and will continue to take, additional preventive measures to strengthen the cyber defenses of the collective networks and data. Protecting data, which includes information related to clinical and financial data, and communications with patients, tenants, payers, vendors and other third parties is a primary area of focus for us, UHS, and our third-party property managers. Given the critical nature of this information, certain cybersecurity risk management programs were implemented to assess, identify, and manage risks associated with cybersecurity threats as identified in Item 106(a) of Regulation S-K. UHS has a multi-tier risk management structure that includes regular reviews of laws, policies, vulnerabilities, and resource levels to address risks facing our organization. Such risks include operational, intellectual property theft, fraud, risks that have potential unfavorable impacts on our employees and/or patients, and violation of data privacy or security laws. To address cybersecurity risks facing UHS, and in turn us, to the degree applicable, UHS has adopted a “continuous risk assessment” process. UHS, through a third party, conducts a bi-annual National Institute of Technology-Cyber Security Framework assessment to determine the maturity of its program and related controls. The results of that assessment are shared with management of UHS, which drives prioritization and investment in resources to address those risks. Likewise, annual penetration tests occur to review the efficacy of technical controls, results which are reviewed by management of UHS and resolved in a timely manner. Other factors that feed into UHS' risk management practices are also operational events and incidents, which can lead to controls being reviewed and enhanced. UHS also has a mature incident response process in place in the event a cybersecurity incident occurs. This process defines roles, responsibilities and action plans designed to contain and eradicate the issue, and then restore systems in the event of a major disruption. Regularly, UHS conducts tabletop exercises to simulate responses to an incident and implement any insight gained from those exercises to improve recovery practices. As part of these processes, UHS regularly engages with assessors, consultants, auditors, and other third parties to review UHS’ cybersecurity program to help identify areas for continued focus, improvement, and compliance. UHS maintains a cybersecurity insurance policy that provides coverage in connection with cybersecurity incidents. However, costs and damages associated with cybersecurity incidents may not be fully insured under our insurance policy, and (to the extent otherwise covered) are subject to applicable deductibles. For our the third-party property managers that manage a significant portion of our properties, we conduct periodic reviews of the policies and procedures they have established to detect, contain, eradicate, and restore systems in the event of a major disruption. Based on the information available as of the date of this Form 10-K, during our fiscal year 2024 and through the date of this filing, we did not identify any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us , including our business strategy, results of operations or financial condition. For more information on risks to us from cybersecurity threats, see “ Risks Related to Business Operations - A cyber security incident could cause a violation of HIPAA, breach of member privacy, or other negative impacts. ” under “Item 1A. Risk Factors.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Given the critical nature of this information, certain cybersecurity risk management programs were implemented to assess, identify, and manage risks associated with cybersecurity threats as identified in Item 106(a) of Regulation S-K.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Audit Committee of our Board of Trustees is responsible for the oversight of risks from cybersecurity threats. Members of the Audit Committee receive updates, as warranted, regarding matters of cybersecurity, including review of significant issues encountered by us, UHS or our third-party managers.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of our Board of Trustees is responsible for the oversight of risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Members of the Audit Committee receive updates, as warranted, regarding matters of cybersecurity, including review of significant issues encountered by us, UHS or our third-party managers.
Cybersecurity Risk Role of Management [Text Block]	UHS' cybersecurity risk management and strategy processes are overseen by leaders from their Information Security, Compliance, Legal and Internal Auditing teams. Such individuals have an average of over 20 years of prior work experience in various roles involving information technology, including security, auditing, compliance, systems and programming. These individuals monitor the prevention, mitigation, detection and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, including the operation of our incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	UHS' cybersecurity risk management and strategy processes are overseen by leaders from their Information Security, Compliance, Legal and Internal Auditing teams. Such individuals have an average of over 20 years of prior work experience in various roles involving information technology, including security, auditing, compliance, systems and programming.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Such individuals have an average of over 20 years of prior work experience in various roles involving information technology, including security, auditing, compliance, systems and programming.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	These individuals monitor the prevention, mitigation, detection and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, including the operation of our incident response plan.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 19,234	$ 15,400	$ 21,102

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
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
Rule 10b51 Arr Modified Flag	false
Non Rule 10b51 Arr Modified Flag	false

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Universal Health Realty Income Trust and subsidiaries (the “Trust”) is organized as a Maryland real estate investment trust. We invest in healthcare and human-service related facilities currently including acute care hospitals, behavioral health care hospitals, specialty facilities, free-standing emergency departments, childcare centers and medical/office buildings. As of February 26, 2025, we have seventy-six real estate investments located in twenty-one states consisting of: • six hospital facilities consisting of three acute care hospitals and three behavioral health care hospitals; • four free-standing emergency departments (“FEDs”); • sixty medical/office buildings (“MOB s”), including four owned by unconsolidated limited liability companies (“LLCs”)/limited liability partnerships (“LPs”); • four preschool and childcare centers; • one specialty facility located in Evansville, Indiana, that is currently vacant, and; • one vacant land investment located in Chicago, Illinois. Many of the factors that could affect our future results are beyond our control or ability to predict. Future operations and financial results of our tenants, and in turn ours, could be materially impacted by numerous factors and future developments. Such factors and developments include, but are not limited to, the impact of changes in patient volumes and payer mix caused by deteriorating macroeconomic conditions (including increases in uninsured and underinsured patients as the result of business closings and layoffs); potential disruptions to clinical staffing and shortages and disruptions related to supplies required for our tenants’ employees and patients, including equipment, pharmaceuticals and medical supplies, potential increases to expenses incurred by our tenants related to staffing, supply chain or other expenditures; the impact of our indebtedness and the ability to refinance such indebtedness on acceptable terms; disruptions in the financial markets and the business of financial institutions which could impact our ability to access capital or increase associated borrowing costs; and changes in general economic conditions nationally and regionally in the markets our properties are located, including higher sustained rates of unemployment and underemployment levels and reduced consumer spending and confidence. Certain factors may result in the inability or unwillingness on the part of some of our tenants to make timely payment of their rent to us at current levels or to seek to amend or terminate their leases which, in turn, would have an adverse effect on our occupancy levels and our revenue and cash flow and the value of our properties, and potentially, our ability to maintain our dividend at current levels. Decreases in cash flows and results of operations may have an impact on the inputs and assumptions used in significant accounting estimates, including potential impairments of intangible and long-lived assets. Our future results of operations could be unfavorably impacted by government regulations and deterioration in general economic and business conditions which could result in increases in the number of people unemployed and/or uninsured. Should that occur, it may result in decreased occupancy rates at our MOBs as well as a reduction in the revenues earned by the operators of our hospital facilities which would unfavorably impact our future bonus rental revenue (on one Universal Health Services, Inc. hospital facility) and may potentially have a negative impact on the future lease renewal terms and the underlying value of the hospital properties. Management is unable to predict the effect, if any, that these factors may have on the operating results of our lessees or on their ability to meet their obligations under the terms of their leases with us. Management’s estimate of future cash flows from our leased properties could be materially affected in the near term, if certain of the leases are not renewed or renewed with less favorable terms at the end of their lease terms. In addition, the increase in interest rates has substantially increased our costs of borrowing and reduced our ability to access the capital markets on favorable terms. Additional increases in interest rates could have a significant unfavorable impact on our future results of operations and the resulting effect on the capital markets could adversely affect our ability to carry out our strategy. Purchase Accounting for Acquisition of Investments in Real Estate Purchase accounting is applied to the assets and liabilities related to most real estate investments acquired from third parties. In accordance with current accounting guidance, we account for most of our property acquisitions as acquisitions of assets, which requires the capitalization of acquisition costs to the underlying assets and prohibits the recognition of goodwill or bargain purchase gains. The fair value of most of the real estate acquired is allocated to the acquired tangible assets, consisting primarily of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, and acquired ground leases, based in each case on their fair values. Loan premiums, in the case of above market rate assumed loans, or loan discounts, in the case of below market assumed loans, are recorded based on the fair value of any loans assumed in connection with acquiring the real estate. Please see additional disclosure below regarding “Financing Assets”. The fair values of the tangible assets of an acquired property are determined based on comparable land sales for land and replacement costs adjusted for physical and market obsolescence for the improvements. The fair values of the tangible assets of an acquired property are also determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a property based on assumptions that a market participant would use, which is similar to methods used by independent appraisers. In addition, there is intangible value related to having tenants leasing space in the purchased property, which is referred to as in-place lease value. Such value results primarily from the buyer of a leased property avoiding the costs associated with leasing the property and also avoiding rent losses and unreimbursed operating expenses during the hypothetical lease-up period. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related costs. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below market fixed rate renewal periods. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. The capitalized below-market lease values, also referred to as acquired lease obligations, are amortized as an increase to rental income over the initial terms of the respective leases. At December 31, 2 024, our net intangible assets total $ 7.3 million (net of $ 11.3 million accumulated amortization) and primarily consist of the value of in-place leases. At December 31, 2024, our net intangible value of in-place leases total $ 6.1 million (net of $ 9.8 million of accumulated amortization) and will be amortized over the remaining lease terms (aggregate weighted average of 4.6 years at December 31, 2024) and are expected to result in estimated aggregate amortization expense of, $ 1.5 million, $ 1.3 million, $ 1.0 million, $ 568,000 and $ 1.8 million for 2025, 2026, 2027, 2028 and 2029 and thereafter, respectively. Amortization expense on intangible values of in place leases was $ 1.6 million for the year ended December 31, 2024, $ 1.9 million for the year ended December 31, 2023 and $ 2.1 million for the year ended December 31, 2022. The remaining amount of our net intangible assets primarily consists of above-market leases. At December 31, 2024, our net intangible value of above-market leases total $ 991,000 (net of $ 1.4 million of accumulated amortization) and will be amortized over the remaining lease terms (aggregate weighted average of approximately 4.6 years at December 31, 2024) and are expected to result in estimated aggregate amortization offset to rental revenue of approximately $ 215,000 in 2025, $ 209,000 in 2026, $ 197,000 in 2027, $ 137,000 in 2028 and $ 233,000 in 2029 and thereafter. Amortization offset to rental revenue on intangible values of above-market leases was $ 215,000 , $ 246,000 and $ 247,000 for the years ended December 31, 2024, 2023 and 2022, respectively. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and capital improvements. The estimated original useful lives of our buildings range from 25 - 45 years and the estimated original useful lives of capital improvements ranges from 3 - 35 years. On a consolidated basis, depreciation expense was $ 24.5 million for the year ended December 31, 2024 , $ 24.6 million for the year ended December 31, 2023 and $ 23.3 million for the year ended December 31, 2022. Financing Assets As discussed in Note 2 – Relationship with UHS and Related Party Transactions, on December 31, 2021 we entered into an asset purchase and sale agreement, as amended, with UHS and certain of its affiliates. Pursuant to the agreement, UHS purchased from us the real estate assets of the Inland Valley Campus of Southwest Healthcare System (“Inland Valley”) and transferred to us the real estate assets of Aiken Regional Medical Center (“Aiken”) and Canyon Creek Behavioral Health (“Canyon Creek”). In connection with this transaction, Aiken and Canyon Creek (as lessees), entered into a master lease and individual property leases (with us as lessor), as amended, for initial lease terms of approximately twelve years , ending on December 31, 2033. As a result of UHS' purchase option within the lease agreements of Aiken and Canyon Creek, the transaction is accounted for as a failed sale leaseback in accordance with U.S. GAAP and the properties acquired by us in connection with the asset purchase and sale agreement with UHS, as amended, were accounted for as financing arrangements and our consolidated balance sheets as of December 31, 2024 and December 31, 2023 include financing receivables related to this transaction of $ 82.8 million and $ 83.3 million, respectively. As of December 31, 2024, there are no indicators of impairment and the financing receivable will be assessed for recoverability in accordance with our asset impairment policy. Cash and Cash Equivalents We consider all highly liquid investment instruments with original maturities of three months or less to be cash equivalents. Asset Impairment We review each of our properties for indicators that its carrying amount may not be recoverable. Examples of such indicators may include a significant decrease in the market price of the property, a change in the expected holding period for the property, a significant adverse change in how the property is being used or expected to be used based on the underwriting at the time of acquisition, an accumulation of costs significantly in excess of the amount originally expected for the acquisition or development of the property, or a history of operating or cash flow losses of the property. When such impairment indicators exist, we review an estimate of the future undiscounted net cash flows (excluding interest charges) expected to result from the real estate investment’s use and eventual disposition and compare that estimate to the carrying value of the property. We consider factors such as future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If our future undiscounted net cash flow evaluation indicates that we are unable to recover the carrying value of a real estate investment, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results in future periods. Since cash flows on properties considered to be long-lived assets to be held and used are considered on an undiscounted basis to determine whether the carrying value of a property is recoverable, our strategy of holding properties over the long-term directly decreases the likelihood of their carrying values not being recoverable and therefore requiring the recording of an impairment loss. If our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material. If we determine that the asset fails the recoverability test, the affected assets must be reduced to their fair value. We generally estimate the fair value of rental properties utilizing a discounted cash flow analysis that includes projections of future revenues, expenses and capital improvement costs that a market participant would use based on the highest and best use of the asset, which is similar to the income approach that is commonly utilized by appraisers. In certain cases, we may supplement this analysis by obtaining outside broker opinions of value or third-party appraisals. In considering whether to classify a property as held for sale, we consider factors such as whether management has committed to a plan to sell the property, the property is available for immediate sale in its present condition for a price that is reasonable in relation to its current value, the sale of the property is probable, and actions required for management to complete the plan indicate that it is unlikely that any significant changes will made to the plan. If all the criteria are met, we classify the property as held for sale. Upon being classified as held for sale, depreciation and amortization related to the property ceases and it is recorded at the lower of its carrying amount or fair value less cost to sell. The assets and related liabilities of the property are classified separately on the consolidated balance sheets for the most recent reporting period. Only those assets held for sale that constitute a strategic shift or that will have a major effect on our operations are classified as discontinued operations. Investments in Limited Liability Companies (“LLCs”) In accordance with U.S. GAAP and guidance relating to accounting for investments and real estate ventures, we account for our unconsolidated investments in LLCs/LPs which we do not control using the equity method of accounting. The third-party members in these investments have equal voting rights with regards to issues such as, but not limited to: (i) divestiture of property; (ii) annual budget approval, and; (iii) financing commitments. These investments, which represent 33 % to 95 % non-controlling ownership interests, are recorded initially at our cost and subsequently adjusted for our net equity in the net income, cash contributions to, and distributions from, the investments. Pursuant to certain agreements, allocations of sales proceeds and profits and losses of some of the LLC investments may be allocated disproportionately as compared to ownership interests after specified preferred return rate thresholds have been satisfied. Distributions received from equity method investees in the consolidated statements of cash flows are classified based upon the nature of the distribution. Returns on investments are presented net of equity in income from unconsolidated investments as cash flows from operating activities. Returns of investments are classified as cash flows from investing activities. At December 31, 2024, we have non-controlling equity investments or commitments in four jointly-owned LLCs/LPs which own MOBs. As of December 31, 2024 we accounted for these LLCs/LPs on an unconsolidated basis pursuant to the equity method since they are not variable interest entities which we are the primary beneficiary nor do we have a controlling voting interest. The majority of these entities are joint-ventures between us and non-related parties that hold minority ownership interests in the entities. Each entity is generally self-sustained from a cash flow perspective and generates sufficient cash flow to meet its operating cash flow requirements and service the third-party debt (if applicable) that is non-recourse to us. Although there is typically no ongoing financial support required from us to these entities since they are cash-flow sufficient, we may, from time to time, provide funding for certain purposes such as, but not limited to, significant capital expenditures, leasehold improvements and debt financing. Although we are not obligated to do so, if approved by us at our sole discretion, additional cash funding is typically advanced as equity or member loans. These entities maintain property insurance on the properties. An other-than-temporary impairment of an investment in an unconsolidated LLC is recognized when the carrying value of the investment is not considered recoverable based on evaluation of the severity and duration of the decline in value, including projected declines in cash flow. To the extent impairment has occurred, the excess carrying value of the asset over its estimated fair value is charged to income. Federal Income Taxes No provision has been made for federal income tax purposes since we qualify as a real estate investment trust under Sections 856 to 860 of the Internal Revenue Code of 1986, and intend to continue to remain so qualified. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute at least 90 % of our annual REIT taxable income to shareholders. As a REIT, we generally will not be subject to federal, state or local income tax on income that we distribute as dividends to our shareholders. We are subject to a federal excise tax computed on a calendar year basis. The excise tax equals 4 % of the amount by which 85% of our ordinary income plus 95% of any capital gain income for the calendar year exceeds cash distributions during the calendar year, as defined. No provision for excise tax has been reflected in the financial statements as no tax was due. Earnings and profits, which determine the taxability of dividends to shareholders, will differ from net income reported for financial reporting purposes due to the differences for federal tax purposes in the cost basis of assets and in the estimated useful lives used to compute depreciation and the recording of provision for impairment losses. The aggregate gross cost basis and net book value of the properties for federal income tax purposes are approximately $ 726 million (unaudited) and $ 421 million (unaudited), respectively, at December 31, 2024. The aggregate cost basis and net book value of the properties for federal income tax purposes were approximately $ 710 million (unaudited) and $ 422 million (unaudited), respectively, at December 31, 2023. Stock-Based Compensation We expense the grant-date fair value of restricted stock awards over the vesting period. We recognize the grant-date fair value of equity-based compensation and account for these transactions using the fair-value based method. The expense associated with share-based compensation arrangements is a non-cash charge. In the Consolidated Statements of Cash Flows, stock-based compensation expense is an adjustment to reconcile net income to cash provided by operating activities. Fair Value Fair value is a market-based measurement, not an entity-specific measurement and determined based upon the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, accounting requirements establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Level 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). In instances when it is necessary to establish the fair value of our real estate investments and investments in LLCs we use unobservable inputs which are typically based on our own assumptions. The fair value of our real estate investments, components of real estate investments and debt assumed in conjunction with acquisition and impairment activity, are considered to be Level 3 valuations as they are primarily based upon an income capitalization approach. Significant inputs into the models used to determine fair value of real estate investments and components of real estate investments include future cash flow projections, holding period, terminal capitalization rate and discount rates. Additionally, the fair value of land takes into consideration comparable sales, as adjusted for site specific factors. The fair value of real estate investments is based upon significant judgments made by management, and accordingly, we typically obtain assistance from third party valuation specialists. Significant inputs into the models used to determine the fair value of assumed mortgages included the outstanding balance, term, stated interest rate and current market rate of the mortgage. The carrying amounts reported in the balance sheet for cash, receivables, and short-term borrowings approximate their fair values due to the short-term nature of these instruments. Accordingly, these items are excluded from the fair value disclosures included elsewhere in these notes to the consolidated financial statements. Concentration of Revenues The rental revenue earned pursuant to the lease on McAllen Medical Center, which is leased to a related party (see Note 2), generated approximately 9 % during each of 2024, 2023 and 2022, of our consolidated revenues. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. Actual results could differ from those estimates. New Accounting Standards Except as noted below there were no new accounting pronouncements that impacted or are expected to impact us. Segment Reporting In November, 2023, the FASB issued ASU 2023-07, Segment Reporting, Topic 280, "Improvements to Reportable Segment Disclosures ("ASU 2023-07") which was issued to improve the disclosures about a public entity's reportable segments and address requests from investors for additional, more detailed information about a reportable segment's expenses. The ASU requires existing annual segment disclosures to also be disclosed on an interim basis and also requires disclosures around significant segment expenses and disclosures to identify the title and position of the chief operat ing decision maker ("CODM") . The standard is effective for the fiscal year ended December 31, 2024 and interim periods thereafter. The adoption of this standard did not have a material impact on our consolidated financial statements. See Note 9 to the consolidated financial statements-Segment Reporting for further disclosure around our segment reporting. Reference Rate Reform In March 2020, the FASB issued an accounting standard classified under FASB ASC Topic 848, “Reference Rate Reform.” The amendments in this update contain practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASC 848 is optional and may be elected over time as reference rate reform activities occur. Beginning in the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”) which was issued to defer the sunset date of Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform to December 31, 2024. ASU 2022-06 is effective immediately for all companies. ASU 2022-06 had no impact on our consolidated financial statements for the year ended December 31, 2024.

Relationship with UHS and Relat

Relationship with UHS and Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Relationship with UHS and Related Party Transactions	(2) RELATIONSHIP WITH UHS AND RELATED PARTY TRANSACTIONS Leases: We commenced operations in 1986 by purchasing certain properties from subsidiaries of UHS and immediately leasing the properties back to the respective subsidiaries. The base rentals and lease and renewal terms for each of the hospitals leased to subsidiaries of UHS as of January 1, 2025, are provided below. The base rents are paid monthly. The lease on McAllen Medical Center also provides for bonus rent which is paid quarterly based upon a computation that compares the hospital’s current quarter revenue to a corresponding quarter in the base year. The hospital leases with subsidiaries of UHS, with the exception of the lease on Clive Behavioral Health (which is operated by UHS in a joint venture with an unrelated third party), are unconditionally guaranteed by UHS and are cross-defaulted with one another. The lease for Clive Behavioral Health is guaranteed on a several basis by UHS ( 52 %) and Catholic Health Initiatives-Iowa ( 48 %). The combined revenues generated from the leases on the three acute care and three behavioral health care hospital facilities leased to subsidiaries of UHS at December 31, 2024, 2023 and 2022, accounted for approximately 24 %, 25 % and 26 % of our consolidated revenues for the years ended December 31, 2024, 2023 and 2022, respectively. In addition to the six UHS hospital facilities, we have twenty properties consisting of medical/office buildings and FEDs that are either wholly or jointly-owned by us that include tenants that are subsidiaries of UHS. The aggregate revenues generated from UHS-related tenants comprised approximately 38 % of our consolidated revenue for the five years ended December 31, 2024 (approximately 40 %, 41 % and 40 % for the years ended December 31, 2024, 2023 and 2022, respectively). In December, 2021, we entered into an asset purchase and sale agreement, as amended, with UHS and certain of its affiliates. Pursuant to the terms of the transaction, in addition to $ 4.1 million in cash paid by us to UHS, a wholly-owned subsidiary of UHS purchased from us, the real estate assets of an acute care hospital located in California (at its fair market value) and two wholly-owned subsidiaries of UHS transferred to us (at their fair market values), the real estate assets of Aiken Regional Medical Center (“Aiken”), located in Aiken, South Carolina (which includes an acute care hospital and a behavioral health pavilion), and Canyon Creek Behavioral Health (“Canyon Creek”), located in Temple, Texas. As a result of UHS’ purchase option within the lease agreements of Aiken and Canyon Creek, the transaction is accounted for as a failed sale leaseback in accordance with U.S. GAAP and the properties acquired by us in connection with the asset purchase and sale agreement with UHS were accounted for as financing arrangements. Pursuant to the leases, the aggregate annual rental rate on the acquired properties, which is payable to us on a monthly basis, was $ 5.9 million during 2024, $ 5.8 million during 2023 and $ 5.7 million duri ng 2022. The portion of the lease payments that is included in our consolidated statements of income, and reflected as interest income on financing leases, was approximately $ 5.4 million for the year ended December 31, 2024 and $ 5.5 million for each of the years ended December 31, 2023 and 2022. Our consolidated balance sheets as of December 31, 2024 and 2023 include financing receivables related to this transaction of $ 82.8 million and $ 83.3 million, respectively. Pursuant to the terms of the master leases by and among us and certain subsidiaries of UHS, dated December 24, 1986 and December 31, 2021 (the “Master Leases”), which govern the leases of McAllen Medical Center, Wellington Regional Medical Center (governed by the Master Lease dated December 24, 1986), Aiken Regional Medical Center and Canyon Creek Behavioral Health (governed by the Master Lease dated December 31, 2021, as amended), all of which are hospital properties that are wholly-owned subsidiaries of UHS, UHS has the option, among other things, to renew the leases at the lease terms described below by providing notice to us at least 90 days prior to the termination of the then current term. UHS also has the right to purchase the respective leased facilities from us at their appraised fair market value upon any of the following: (i) at the end of the lease terms or any renewal terms; (ii) upon one month’s notice should a change of control of the Trust occur, or; (iii) within the time period as specified in the leases in the event that UHS provides notice to us of their intent to offer a substitution property/properties in exchange for one (or more) of the four wholly-owned UHS hospital facilities leased from us, should we be unable to reach an agreement with UHS on the properties to be substituted. Additionally, UHS has rights of first refusal to: (i) purchase the respective leased facilities during and for a specified period after the lease terms at the same price, terms and conditions of any third-party offer, or; (ii) renew the lease on the respective leased facility at the end of, and for a specified period after, the lease term at the same terms and conditions pursuant to any third-party offer. In addition, a wholly-owned subsidiary of UHS is the managing, majority member in a joint-venture with an unrelated third-party that operates, and leases from us, Clive Behavioral Health, a 100 -bed behavioral health care facility located in Clive, Iowa. Pursuant to the lease on this facility, the joint venture has the option to, among other things, renew the lease at the terms specified in the lease agreement by providing notice to us at least 270 days prior to the termination of the then current term. The joint venture also has the right to purchase the leased facility from us at its appraised fair market value upon either of the following: (i) by providing notice at least 270 days prior to the end of the lease terms or any renewal terms, or; (ii) upon 30 days’ notice anytime within 12 months of a change of control of the Trust (UHS also has this right should the joint venture decline to exercise its purchase right). Additionally, the joint venture has rights of first offer to purchase the facility prior to any third-party sale. The table below details the existing lease terms and renewal options for each of the hospital leases that are related to UHS as of January 1, 2025, co nsisting of three acute care hospitals and three behavioral health hospitals: Hospital Name Annual End of Renewal McAllen Medical Center $ 5,485,000 December, 2026 5 (a) Wellington Regional Medical Center $ 6,805,000 December, 2026 5 (b) Aiken Regional Medical Center/Aurora Pavilion Behavioral Health Services $ 4,164,000 December, 2033 35 (c) Canyon Creek Behavioral Health $ 1,882,000 December, 2033 35 (c) Clive Behavioral Health $ 2,851,000 December, 2040 50 (d) (a) UHS has one 5-year renewal option at existing lease rates (through 2031 ). (b) UHS has one 5-year renewal option at fair market value lease rates (through 2031 ). The annual rental will increase by 2.5 % on an annual compounded basis on each January 1 st through 2026. (c) UHS has seven 5-year renewal options at fair market value lease rates ( 2034 through 2068 ). The annual rental rate will increase by 2.25 % on a cumulative and compounded basis on each January 1 st through 2033. (d) The UHS-related joint venture has five 10-year renewal options; the first three of the five 10-year renewal options will be at computed lease rates as stipulated in the lease ( 2041 through 2070 ) and the last two 10-year renewal options will be at fair market lease rates ( 2071 through 2090 ). On each January 1 st through 2040 (and potentially through 2070 if the first three of five, 10-year renewal options are exercised), the annual rental will increase by 2.75 % on a cumulative and compounded basis. In October, 2024, two wholly-owned subsidiaries of UHS each exercised their 5-year renewal options on two FEDs located in Weslaco and Mission, Texas, covering the period of February 1, 2025 through January 31, 2030 . The aggregate annual lease rates on the renewed leases, which are scheduled to increased 2 % per year, for the period of February 1, 2025 through January 31, 2026 is approximately $ 1.1 million. T he wholly-owned subsidiaries of UHS have five , 5-year renewal options remaining on each of these FEDs, with the first three renewal options (covering the years 2030 through 2044 ) providing for 2 % annual increases to the lease rates, and the remaining two, 5-year renewal options (covering the years 2045 through 2054 ) providing for lease rates at the then fair market value. These leases are cross-defaulted with one another and the wholly-owned subsidiaries of UHS have the option to purchase the leased properties upon the expiration of each five-year extended term at the fair market value at that time. Management cannot predict whether the leases with wholly-owned subsidiaries of UHS, which have renewal options at existing lease rates or fair market value lease rates, or any of our other leases, will be renewed at the end of their lease term. If the leases are not renewed at their current rates or the fair market value lease rates, we would be required to find other operators for those facilities and/or enter into leases on terms potentially less favorable to us than the current leases. In addition, if subsidiaries of UHS exercise their options to purchase the respective leased hospital or FED facilities upon expiration of the lease terms, our future revenues could decrease if we were unable to earn a favorable rate of return on the sale proceeds received, as compared to the rental revenue currently earned pursuant to these leases. During the third quarter of 2023, we acquired the McAllen Doctor's Center, an MOB located in McAllen, Texas for a purchase price of approximately $ 7.6 million, including transaction costs. The building has approximately 79,500 rentable square feet and is 100 % master leased to McAllen Hospitals, L.P, a wholly-owned subsidiary of UHS. The triple-net master lease is for twelve years scheduled to expire on August 31, 2035. McAllen Hospitals, L.P. has the option to renew the lease term for three consecutive ten-year terms. The initial annual base rent is approximately $ 624,000 . During the first quarter of 2023, construction was substantially completed on Sierra Medical Plaza I, a multi-tenant MOB located in Reno, Nevada, consisting of approximately 86,000 rentable square feet. This MOB is located on the campus of the Northern Nevada Sierra Medical Center, a newly constructed acute care hospital that is owned and operated by a wholly-owned subsidiary of UHS, which was completed and opened during April of 2022. The cost of the MOB is estimated to be approximately $ 35 million , approximately $ 30 million of which was incurred as of December 31, 2024. In con nection with this MOB, we entered into a ground lease and master flex-lease agreement with a wholly-owned subsidiary of UHS both of which commenced during March, 2023. The master flex lease agreement has a ten-year term scheduled to expire on March 31, 2033. The MOB is 68 % leased including the ten-year master flex lease for 34 % of the rentable square feet. The master flex-lease agreement is subject to a reduction based upon the execution of third-party leases. The ground lease has a 75-year term scheduled to expire on March 2, 2098. We are the lessee on thirteen ground leases with subsidiaries of UHS (for consolidated and unconsolidated investments), including one that commenced in March, 2023. The remaining lease terms on the ground leases with subsidiaries of UHS range from approximately 25 years to approximately 74 years. The annual aggregate lease payments on these properties were approximately $ 571,000 for the year ended 20 24 and expected to be $ 571,000 for each of the years ended 2025 through 2028, and an aggregate of $ 31.3 million thereafter. See Note 4 to the consolidated financial statements-Lease Accounting for further disclosure around our lease accounting. Officers and Employees: Our officers are all employees of a wholly-owned subsidiary of UHS and although as of December 31, 2024 we had no salaried employees, our officers do typically receive annual stock-based compensation awards in the form of restricted stock or restricted stock units. In special circumstances, if warranted and deemed appropriate by the Compensation Committee of the Board of Trustees, our officers may also receive one-time compensation awards in the form of restricted stock, and/or cash bonuses. Advisory Agreement: UHS of Delaware, Inc. (the “Advisor”), a wholly-owned subsidiary of UHS, serves as Advisor to us under an advisory agreement dated December 24, 1986, and as amended and restated as of January 1, 2019 (the “Advisory Agreement”). Pursuant to the Advisory Agreement, the Advisor is obligated to present an investment program to us, to use its best efforts to obtain investments suitable for such program (although it is not obligated to present any particular investment opportunity to us), to provide administrative services to us and to conduct our day-to-day affairs. All transactions between us and UHS must be approved by the Trustees who are unaffiliated with UHS (the “Independent Trustees”). In performing its services under the Advisory Agreement, the Advisor may utilize independent professional services, including accounting, legal, tax and other services, for which the Advisor is reimbursed directly by us. The Advisory Agreement may be terminated for any reason upon sixty days written notice by us or the Advisor. The Advisory Agreement expires on December 31 of each year; however, it is renewable by us, subject to a determination by the Independent Trustees, that the Advisor’s performance has been satisfactory. The Advisory Agreement was renewed for 2025 with the same terms as the Advisory Agreement in place during 2024, 2023 and 2022. Our advisory fe e for 2024, 2023 and 2022 was computed at 0.70 % of our average invested real estate assets, as derived from our consolidated balance sheet. Based upon a review of our advisory fee and other general and administrative expenses, as compared to an industry peer group, the advisory fee computation remained unchanged for 2024, as compared to 2023 and 2022. The average real estate assets for advisory fee calculation purposes exclude certain items from our consolidated balance sheet such as, among other things, accumulated depreciation, cash and cash equivalents, lease receivables, deferred charges and other assets. The advisory fee is payable quarterly, subject to adjustment at year-end based upon our audited financial statements. Advisory fees incurred and paid (or payable) to UHS amounted to $ 5.5 million during 2024, $ 5.3 million during 2023 and $ 5.1 million during 2022, and were based upon average invested real estate assets of $ 783 million, $ 757 million and $ 728 million during 2024, 2023 and 2022, respectively. Share Ownership: As of December 31, 2024 and 2023, UHS owned 5.7 % of our outstanding shares of beneficial interest. SEC reporting requirements of UHS: UHS is subject to the reporting requirements of the Securities and Exchange Commission (“SEC”) and is required to file annual reports containing audited financial information and quarterly reports containing unaudited financial information. Since the aggregate revenues generated from UHS-related tenants comprised approximately 38 % of our consolidated revenue for the five years ended December 31, 2024 (approximately 40 %, 41 % and 40 % for the years ended December 31, 2024, 2023 and 2022, respectively), and since a subsidiary of UHS is our Advisor, you are encouraged to obtain the publicly available filings for Universal Health Services, Inc. from the SEC’s website. These filings are the sole responsibility of UHS and are not incorporated by reference herein.

Purchase and Sale Transaction,

Purchase and Sale Transaction, Acquisitions, Divestitures and New Construction	12 Months Ended
	Dec. 31, 2024
Business Combinations [Abstract]
Purchase and Sale Transaction, Acquisitions, Divestitures and New Construction	(3) PURCHASE AND SALE TRANSACTION, ACQUISITIONS, DIVESTITURES AND NEW CONSTRUCTION 2024: Acquisitions: There were no acquisitions during 2024. Divestitures: There were no divestitures during 2024. 2023: New Construction: In January 2022, we entered into a ground lease and master flex-lease agreement with a wholly-owned subsidiary of UHS to develop, construct and own the real property of Sierra Medical Plaza I, an MOB located in Reno, Nevada, consisting of approximately 86,000 rentable square feet. This MOB is located on the campus of the Northern Nevada Sierra Medical Center, a newly constructed hospital that is owned and operated by a wholly-owned subsidiary of UHS, which was completed and opened during April o f 2022. Please see additional disclosure in connection with this property in Note 2 . Acquisitions: During the third quarter of 2023, we acquired the McAllen Doctor's Center, an MOB located in McAllen, Texas, for a purchase price of approximately $ 7.6 million, including transaction costs. The building has approximately 79,500 rentable square feet and is 100 % master leased to McAllen Hospitals, L.P, a wholly-owned subsidiary of UHS. The triple-net master lease is for twelve years scheduled to expire on August 31, 2035 . McAllen Hospitals, L.P. has the option to renew the lease term for three consecutive ten-year terms. The initial annual base rent is approximately $ 624,000 . Divestitures: In December, 2023, we sold the vacant specialty facility in Corpus Christi, Texas for proceeds of approximately $ 3.9 million, net of closing costs. This divestiture generated a loss of approximately $ 232,000 which is included in our consolidated statements of income for the three and twelve month periods ended December 31, 2023. 2022: Acquisitions: In March, 2022, we acquired the Beaumont Heart and Vascular Center, a medical office building located in Dearborn, Michigan, for a purchase price of approximately $ 5.4 million. The building, which has 17,621 rentable square feet, is 100 % leased to a single tenant under the terms of a triple-net lease that is scheduled to expire on November 30, 2026 and has lease escalations of 2.5 % per year commencing on December 1, 2022. In January, 2022, we acquired the 140 Thomas Johnson Drive medical office building located in Frederick, Maryland, for a purchase price of approximately $ 8.0 million. The building, which has 20,146 rentable square feet, is 100 % leased to three tenants under the terms of triple-net leases. Approximately 72 % of the rentable square feet of this MOB is leased pursuant to a 15 -year lease, with a remaining lease term of approximately 14 years at the time of purchase, with three , five-year renewal options. Divestitures: There were no divestitures during 2022.

Lease Accounting

Lease Accounting	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Lease Accounting	(4) LEASE ACCOUNTING As Lessor: We lease most of our operating properties to customers under agreements that are typically classified as operating leases ( two of our leases are accounted for as financing arrangements effective on December 31, 2021). We recognize the total minimum lease payments provided for under the operating leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from our customers. We record amounts reimbursed by customers in the period that the applicable expenses are incurred, which is generally ratably throughout the term of the lease. We have elected the package of practical expedients that allows lessors to not separate lease and non-lease components by class of underlying asset. This practical expedient allowed us to not separate expenses reimbursed by our customers (“tenant reimbursements”) from the associated rental revenue if certain criteria were met. We assessed these criteria and concluded that the timing and pattern of transfer for rental revenue and the associated tenant reimbursements are the same, and for the leases that qualify as operating leases, we accounted for and presented rental revenue and tenant reimbursements as a single component under Lease revenue in our consolidated statements of income for the twelve months ended December 31, 2024, 2023 and 2022. The components of the “Lease revenue – UHS facilities” and “Lease revenue – Non-related parties” captions for the years ended 2024, 2023 and 2022 are disaggregated below (in thousands). Base rents are primarily stated rent amounts provided for under the leases that are recognized on a straight-line basis over the term of the lease. Bonus rents and tenant reimbursements represent amounts where tenants are contractually obligated to pay an amount that is variable in nature. Year Ended December 31, 2024 2023 2022 UHS Facilities: Base rents $ 27,320 $ 26,173 $ 24,485 Bonus rents (a.) 3,107 2,953 2,801 Tenant reimbursements 3,200 3,497 2,668 Lease Revenue - UHS facilities $ 33,627 $ 32,623 $ 29,954 Non-related parties: Base rents $ 44,332 $ 42,159 $ 40,533 Tenant reimbursements 13,328 12,834 11,471 Lease Revenue - Non-related parties $ 57,660 $ 54,993 $ 52,004 (a.) Consists of bonus rental earned in connection with McAllen Medical Center, a UHS acute care hospital facility. Disclosures Related to Certain Hospital Facilities: Vacant Land/Specialty Facilities: Chicago, Illinois - Land: The lease on this facility expired on December 31, 2021 and demolition of the former hospital was completed during 2023. Demolition costs, which were included in other operating expenses in our consolidated statements of income, amounted to approximately $ 1.5 million in the aggregate, approximately $ 1.1 million of which was incurred during 2023 and $ 332,000 of which was incurred during 2022 . The operating expenses incurred by us in connection with this property were a net credit of $ 319,000 during 2024 (including a credit of $ 610,000 for a property tax reduction relating primarily to prior periods), $ 1.7 million during 2023 (or $ 529,000 excluding the demolition costs) and $ 1.6 million during 20 22 (or approximately $ 1.3 million excluding demolition costs). Also, included in our net income during the year ended December 31, 2022, was $ 1.25 million of revenues related to a settlement and release agreement executed during the fourth quarter of 2022 in connection with this property. Evansville, Indiana - Specialty Facility: The lease on this specialty facility expired during 2019 and the facility has been vacant since that time. The operating expenses incurred by us in connection with this facility were approximately $ 345,000 during 2024, $ 401,000 during 2023 and $ 360,000 during 2022. We continue to market the Chicago, Illinois, and Evansville, Indiana, properties to third parties. Future operating expenses related to these properties will be incurred by us during the time they remain owned and unleased. Should these properties continue to remain owned and unleased for an extended period of time, or should we incur substantial renovation or additional costs to make the properties suitable for other operators/tenants/buyers, our future results of operations could be materially unfavorably impacted. Corpus Christi, Texas - Former Specialty Facility: In December, 2023, we sold the vacant specialty facility in Corpus Christi, Texas, for proceeds of approximately $ 3.9 million, net of closing costs. This divestiture generated a loss of approximately $ 232,000 which is included in our consolidated statements of income for the year ended December 31, 2023. The lease on this specialty facility expired during 2019 and the facility had been vacant since that time. The operating expenses incurred by us in connection with this facility were approximately $ 254,000 during 2023 and $ 302,000 during 2022. Minimum future base rents from non-cancelable leases related to properties included in our financial statements on a consolidated basis, excluding increases resulting from changes in the consumer price index, bonus rents and the impact of straight-line rent adjustments, are as follows (amounts in thousands): For the year ended December 31, Amount 2025 $ 77,073 2026 70,249 2027 50,146 2028 41,923 2029 34,946 Thereafter 125,921 Total minimum base rents $ 400,258 Some of the leases contain gross terms where operating expenses are included in the base rent amounts. Other leases contain net terms where the operating expenses are assessed separately from the base rentals. The table above contains a mixture of both gross and net leases and does not include any separately calculated operating expense reimbursements. Under the terms of the hospital leases, the lessees are required to pay all operating costs of the properties including property insurance and real estate taxes. Tenants of the medical office buildings generally are required to pay their pro-rata share of the property’s operating costs. As Lessee: We are the lessee with various third parties, including subsidiaries of UHS, in connection with ground leases for land at fifteen of our consolidated properties. Our right-of-use land assets represent our right to use the land for the lease term and our lease liabilities represent our obligation to make lease payments arising from the leases. Right-of-use assets and lease liabilities were recognized upon adoption of Topic 842 based on the present value of lease payments over the lease term. We utilized our estimated incremental borrowing rate, which was derived from information available as of January 1, 2019, or the commencement date of the ground lease, whichever is later, in determining the present value of lease payments for active leases on that date. A right-of-use asset and lease liability are not recognized for leases with an initial term of 12 months or less, as these short-term leases are accounted for similarly to previous guidance for operating leases. We do not currently have any ground leases with an initial term of 12 months or less . As of December 31, 2024, our consolidated balance sheet includes right-of-use land assets, net, of approximately $ 10.9 million and ground lease liabilities, net, of approximately $ 10.9 million. During the first quarter of 2023, the ground lease for the newly constructed and substantially completed Sierra Medical Plaza I commenced and a right-of-use asset and lease liability was recorded in connection with t his lease. During the years end ed December 31, 2024 and 2023, the cash paid for amounts included in the measurement of lease liabilities related to our operating leases was approximately $ 692,000 and $ 666,000 , res pectively, which is included as an operating cash outflow within the consolidated statement of cash flows and included in other operating expenses within the consolidated statements of income. As of and during the year ended December 31, 2024, we did not enter into any lease agreements for our consolidated properties set to commence in the future. As mentioned above, during 2023 there was a newly leased assets for which a right-of-use asset was recorded in exchange for a new lease liability, related to the Sierra Medical Plaza I. Supplemental balance sheet information related to leases was as follows (in thousands): December 31, 2024 Operating Leases Right-of-use land assets, net-operating leases $ 10,918 Ground lease liabilities, net $ 10,918 Weighted Average remaining lease term, years Operating leases 55.3 Weighted Average discount rate Operating leases 6.29 % As of December 31, 2024, we are the lessee with various third parties, including subsidiaries of UHS, in connection with ground leases for land at fifteen of our consolidated properties. Total consolidated amounts expensed relating to the applicable leases in 2024, 2023 and 2022 was approximately $ 692,000 , $ 666,000 and $ 611,000 , respectively. The following table summarizes fixed, future minimum rental payments, excluding variable costs, which are discounted by our incremental borrowing rate to calculate the lease liabilities for our operating leases in which we are the lessee. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option. Maturities of lease liabilities are as follows (amounts in thousands): Year ended December 31: 2025 $ 704 2026 704 2027 704 2028 704 2029 704 Later years 35,322 Total undiscounted lease payments $ 38,842 Less imputed interest 27,924 Total $ 10,918

Debt and Financial Instruments

Debt and Financial Instruments	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt and Financial Instruments	1.50 x 3.2 x 3.1 x As indicated on the following table, we have various mortgages, all of which are non-recourse to us and are not cross-collateralized, included on our consolidated balance sheet a s of December 31, 2024 and 2023 (amounts in thousands): As of 12/31/2024 As of 12/31/2023 Facility Name Interest Maturity Outstanding Outstanding Summerlin Hospital Medical Office Building III fixed 4.03 % April, 2024 $ - $ 12,301 Tuscan Professional Building fixed rate mortgage loan (c.) 5.56 % June, 2025 363 1,060 Phoenix Children’s East Valley Care Center fixed rate 3.95 % January, 2030 7,646 7,930 Rosenberg Children's Medical Plaza fixed rate mortgage loan 4.42 % September, 2033 11,503 11,771 Total, excluding net debt premium and net financing fees 19,512 33,062 Less net financing fees ( 163 ) ( 199 ) Total mortgage notes payable, non-recourse to us, net $ 19,349 $ 32,863 (a.) All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity. (b.) This fixed rate mortgage loan was fully repaid on April 10, 2024, utilizing borrowings under our Credit Agreement. (c.) This loan is scheduled to mature within the next twelve months, at which time we will either refinance pursuant to a new mortgage loan or repay the mortgage balance in full utilizing borrowings under our Credit Agreement. The mortgages are secured by the real property of the buildings as well as property leases and rents. The mortgages outstanding as of December 31, 2024 had a combined carrying value of approximately $ 19.5 million and a combined fair value of approximately $ 17.7 million. At December 31, 2023, the mortgages outstanding had a combined carrying value of approximately $ 33.1 million and a combined fair value of approximately $ 31.2 million. The fair value of our debt was computed based upon quotes received from financial institutions. We consider these to be “level 2” in the fair value hierarchy as outlined in the authoritative guidance for disclosure in connection with debt instruments. Changes in market rates on our fixed rate debt impacts the fair value of debt, but it has no impact on interest incurred or cash flow. As of December 31, 2024, our aggregate consolidated scheduled debt repayments (including mortgages) are as follows (amounts in thousands): 2025 $ 939 2026 601 2027 626 2028 (a.) 349,553 2029 680 Later 16,013 Total $ 368,412 (a.) Includes assumed repayment of $ 348.9 million of outstanding borrowings under the terms of our $ 425 million revolving credit agreement scheduled to mature in September, 2028 . Financial Instruments: Active Interest Rate Swap Agreements: In October, 2024, we entered into an interest rate swap agreement on a total notional amount of $ 85 million with a fixed interest rate of 3.2725 % that we designated as a cash flow hedge. The interest rate swap became effective on October 2, 2024 and is scheduled to mature on September 30, 2028 . If one-month term SOFR is above 3.2725 %, the counterparty pays us, and if one-month term SOFR is less than 3.2725 %, we pay the counterparty, the difference between the fixed rate of 3.2725 % and one-month term SOFR. This interest rate swap was entered into in replacement of two interest rate swap agreements, on an aggregate total notional amount of $ 85 million, that expired on September 16, 2024 , as discussed below. In December, 2023, we entered into an interest rate swap agreement on a total notional amount of $ 25 million with a fixed interest rate of 3.9495 % that we designated as a cash flow hedge. The interest rate swap became effective on December 1, 2023 and is scheduled to mature on December 1, 2027 . If one-month term SOFR is above 3.9495 %, the counterparty pays us, and if one-month term SOFR is less than 3.9495 %, we pay the counterparty, the difference between the fixed rate of 3.9495 % and one-month term SOFR. In March, 2020, we entered into an interest rate swap agreement on a total notional amount of $ 55 million with a fixed interest rate of 0.505 % that we designated as a cash flow hedge. The interest rate swap became effective on March 25, 2020 and is scheduled to mature on March 25, 2027 . On May 15, 2023, this interest rate swap agreement was modified to replace the benchmark rate from LIBOR to term SOFR. If one-month term SOFR is above 0.505 %, the counterparty pays us, and if one-month term SOFR is less than 0.505 %, we pay the counterparty, the difference between the fixed rate of 0.505 % and one-month term SOFR. Expired Interest Rate Swap Agreements in 2024: On September 16, 2024, the following interest rate swap agreements, on an aggregate total notional amount of $ 85 million, expired on their maturity dates: (i) an interest rate swap on a total notional amount of $ 35 million, with a fixed interest rate of 1.4975 %, that was effective since January, 2020, and; (ii) an interest rate swap on a total notional amount of $ 50 million, with a fixed interest rate of 1.144 %, that was effective since September, 2019. We measure our interest rate swaps at fair value on a recurring basis. The fair value of our interest rate swaps is based on quotes from third parties. We consider those inputs to be “level 2” in the fair value hierarchy as outlined in the authoritative guidance for disclosures in connection with derivative instruments and hedging activities. At December 31, 2024, the fair value of our interest rate swaps was a net asset of $ 6.4 million which is included in deferred charges and other assets on the accompanying consolidated balance sheet. During the twelve months of 2024, we received approximately $ 5.7 million from the counterparties (approximately $ 2.5 million of which relates to the two swaps that expired on September 16, 2024), adjusted for the previous quarter's accrual, pursuant to the terms of the swaps. During the twelve months of 2023, we received approximately $ 5.8 million from the counterparties (approximately $ 3.3 million of which relates to the two swaps that expired on September 16, 2024), adjusted for the previous quarter's accrual, pursuant to the terms of the swaps. Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either an asset or a liability, with a corresponding amount recorded in accumulated other comprehensive income (“AOCI”) within shareholders’ equity. Amounts are reclassified from AOCI to the income statement in the period or periods the hedged transaction affects earnings. We do not expect any gains or losses on our interest rate swaps to be reclassified to earnings in the next twelve months. " id="sjs-B4" xml:space="preserve">(5) DEBT AND FINANCIAL INSTRUMENTS Credit facilities and mortgage debt: Management routinely monitors and analyzes the Trust’s capital structure in an effort to maintain the targeted balance among capital resources including the level of borrowings pursuant to our revolving credit facility, the level of borrowings pursuant to non-recourse mortgage debt secured by the real property of our properties and our level of equity including consideration of equity issuances. This ongoing analysis considers factors such as the current debt market and interest rate environment, the current/projected occupancy and financial performance of our properties, the current loan-to-value ratio of our properties, the Trust’s current stock price, the capital resources required for anticipated acquisitions and the expected capital to be generated by anticipated divestitures. This analysis, together with consideration of the Trust’s current borrowings outstanding under the credit agreement, non-recourse mortgage borrowings and equity, assists management in deciding which capital resource to utilize when events such as refinancing of specific debt components occur or additional funds are required to finance the Trust’s growth. On September 30, 2024, we entered into a second amendment to our credit agreement, dated as of July 2, 2021, and amended in May, 2023, among the Trust as borrower, the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent ("Credit Agreement"). Among other things, the second amendment provided for the following: (i) extended the maturity date to September 30, 2028 (from July, 2025 previously), and; (ii) increased the aggregate borrowing capacity under the credit facility to $ 425 million (from $ 375 million previously) comprised of a $ 125 million non-amortizing term loan ("Term Loan"), and a $ 300 million revolving loan commitment which includes a $ 40 million sublimit for letters of credit, and a $ 30 million sublimit for swingline/short-term loans. Under the terms of the Credit Agreement, we may request that the revolving line of credit and/or the Term Loan be increased by up to an additional aggregate amount of $ 50 million, and we have the option to extend the maturity date for up to two additional six-month periods. Borrowings under the new facility are guaranteed by certain subsidiaries of the Trust. In addition, borrowings under the new facility are secured by first priority security interests in and liens on all equity interests in most of the Trust’s wholly-owned subsidiaries. On May 15, 2023, we entered into the first amendment to our Credit Agreement dated as of July 2, 2021. The amendment replaced LIBOR with term SOFR plus .10 % (“Adjusted Term SOFR”) as an alternative benchmark rate under the Credit Agreement. Borrowings under the Credit Agreement will bear interest at a rate equal to, at our option, the Adjusted Term SOFR for either one, three, or six months or the Base Rate, plus in either case, a specified margin depending on our total leverage ratio, as determined by the formula set forth in the Credit Agreement. The applicable margin after the second amendment ranges from 1.10 % to 1.35 % for SOFR revolving loans and 0.10 % to 0.35 % for Base Rate revolving loans. The applicable margin ranges from 1.20 % to 1.65 % for Adjusted Term SOFR loans and 0.20 % to 0.65 % for Base Rate term loans. The Credit Agreement, as amended by the second amendment, defines “Base Rate” as the greatest of (a) the Administrative Agent’s prime rate, (b) the federal funds effective rate plus 1/2 of 1%, and (c) one month Adjusted Term SOFR plus 1 %. The Trust will also pay a quarterly facility fee on the $ 300 million revolving loan commitment ranging from 0.15 % to 0.35 % (depending on the Trust’s total leverage ratio). The margins over Adjusted Term SOFR, Base Rate and the facility fee are based upon our total leverage ratio. At December 31, 2024, the applicable margin over the Adjusted Term SOFR rate for revolving loans was 1.20 %, the margin over the Base Rate was 0.20 % and the facility fee was 0.20 %. At December 31, 2024, the applicable margin over the Adjusted Term SOFR rate for term loans was 1.35 % and the margin over the Base Rate was .35 %. At December 31, 2024, we had $ 348.9 million of outstanding borrowings pursuant to the terms of our $ 425 million Credit Agreement and $ 76.1 million of available borrowing capacity. The carrying amount and fair value of borrowings outstanding pursuant to the Credit Agreement was $ 348.9 million at December 31, 2024. There are no compensating balance requirements. At December 31, 2023, we had $ 326.6 million of outstanding borrowings pursuant to the terms of our Credit Agreement in effect at that time, $ 3.1 million of outstanding letters of credit and $ 45.3 million of available borrowing capacity. The average amount outstanding under our Credit Agreement during the years ended December 31, 2024, 2023 and 2022 was $ 336.9 million, $ 309.3 million and $ 277.9 million, respectively, with corresponding effective interest rates of 5.1 %, 4.8 % and 2.9 %, respectively, including commitment fees and interest rate swaps. In our consolidated statements of cash flows, we report cash flows pursuant to our Credit Agreement on a net basis. Aggregate borrowings under our Credit Agreement were $ 78.3 million, $ 78.4 million and $ 67.0 million during the years ended December 31, 2024, 2023 and 2022, respectively, and aggregate repayments were $ 56.0 million, $ 49.9 million and $ 40.8 million during the years ended December 31, 2024, 2023 and 2022, respectively. The Credit Agreement contains customary affirmative and negative covenants, including limitations on certain indebtedness, liens, acquisitions and other investments, fundamental changes, asset dispositions and dividends and other distributions. The Credit Agreement also contains restrictive covenants regarding the Trust’s ratio of total debt to total assets, the fixed charge coverage ratio, the ratio of total secured debt to total asset value, the ratio of total unsecured debt to total unencumbered asset value, and minimum tangible net worth, as well as customary events of default, the occurrence of which may trigger an acceleration of amounts then outstanding under the Credit Agreement. We were in compliance with all of the covenants in the Credit Agreement at each of December 31, 2024 and 2023. We also believe that we would remain in compliance if, based on the assumption that the majority of the potential new borrowings will be used to fund investments, the full amount of our commitment was borrowed. The following table includes a summary of the required compliance ratios at December 31, 2024 and 2023, giving effect to the covenants contained in the Credit Agreements in effect on the respective dates (dollar amounts in thousands): Covenant December 31, 2024 December 31, 2023 Tangible net worth $ 125,000 $ 172,216 $ 191,824 Total leverage <= 60 % 44.4 % 44.5 % Secured leverage < 30 % 2.4 % 4.1 % Unencumbered leverage < 60 % 45.9 % 44.2 % Fixed charge coverage > 1.50 x 3.2 x 3.1 x As indicated on the following table, we have various mortgages, all of which are non-recourse to us and are not cross-collateralized, included on our consolidated balance sheet a s of December 31, 2024 and 2023 (amounts in thousands): As of 12/31/2024 As of 12/31/2023 Facility Name Interest Maturity Outstanding Outstanding Summerlin Hospital Medical Office Building III fixed 4.03 % April, 2024 $ - $ 12,301 Tuscan Professional Building fixed rate mortgage loan (c.) 5.56 % June, 2025 363 1,060 Phoenix Children’s East Valley Care Center fixed rate 3.95 % January, 2030 7,646 7,930 Rosenberg Children's Medical Plaza fixed rate mortgage loan 4.42 % September, 2033 11,503 11,771 Total, excluding net debt premium and net financing fees 19,512 33,062 Less net financing fees ( 163 ) ( 199 ) Total mortgage notes payable, non-recourse to us, net $ 19,349 $ 32,863 (a.) All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity. (b.) This fixed rate mortgage loan was fully repaid on April 10, 2024, utilizing borrowings under our Credit Agreement. (c.) This loan is scheduled to mature within the next twelve months, at which time we will either refinance pursuant to a new mortgage loan or repay the mortgage balance in full utilizing borrowings under our Credit Agreement. The mortgages are secured by the real property of the buildings as well as property leases and rents. The mortgages outstanding as of December 31, 2024 had a combined carrying value of approximately $ 19.5 million and a combined fair value of approximately $ 17.7 million. At December 31, 2023, the mortgages outstanding had a combined carrying value of approximately $ 33.1 million and a combined fair value of approximately $ 31.2 million. The fair value of our debt was computed based upon quotes received from financial institutions. We consider these to be “level 2” in the fair value hierarchy as outlined in the authoritative guidance for disclosure in connection with debt instruments. Changes in market rates on our fixed rate debt impacts the fair value of debt, but it has no impact on interest incurred or cash flow. As of December 31, 2024, our aggregate consolidated scheduled debt repayments (including mortgages) are as follows (amounts in thousands): 2025 $ 939 2026 601 2027 626 2028 (a.) 349,553 2029 680 Later 16,013 Total $ 368,412 (a.) Includes assumed repayment of $ 348.9 million of outstanding borrowings under the terms of our $ 425 million revolving credit agreement scheduled to mature in September, 2028 . Financial Instruments: Active Interest Rate Swap Agreements: In October, 2024, we entered into an interest rate swap agreement on a total notional amount of $ 85 million with a fixed interest rate of 3.2725 % that we designated as a cash flow hedge. The interest rate swap became effective on October 2, 2024 and is scheduled to mature on September 30, 2028 . If one-month term SOFR is above 3.2725 %, the counterparty pays us, and if one-month term SOFR is less than 3.2725 %, we pay the counterparty, the difference between the fixed rate of 3.2725 % and one-month term SOFR. This interest rate swap was entered into in replacement of two interest rate swap agreements, on an aggregate total notional amount of $ 85 million, that expired on September 16, 2024 , as discussed below. In December, 2023, we entered into an interest rate swap agreement on a total notional amount of $ 25 million with a fixed interest rate of 3.9495 % that we designated as a cash flow hedge. The interest rate swap became effective on December 1, 2023 and is scheduled to mature on December 1, 2027 . If one-month term SOFR is above 3.9495 %, the counterparty pays us, and if one-month term SOFR is less than 3.9495 %, we pay the counterparty, the difference between the fixed rate of 3.9495 % and one-month term SOFR. In March, 2020, we entered into an interest rate swap agreement on a total notional amount of $ 55 million with a fixed interest rate of 0.505 % that we designated as a cash flow hedge. The interest rate swap became effective on March 25, 2020 and is scheduled to mature on March 25, 2027 . On May 15, 2023, this interest rate swap agreement was modified to replace the benchmark rate from LIBOR to term SOFR. If one-month term SOFR is above 0.505 %, the counterparty pays us, and if one-month term SOFR is less than 0.505 %, we pay the counterparty, the difference between the fixed rate of 0.505 % and one-month term SOFR. Expired Interest Rate Swap Agreements in 2024: On September 16, 2024, the following interest rate swap agreements, on an aggregate total notional amount of $ 85 million, expired on their maturity dates: (i) an interest rate swap on a total notional amount of $ 35 million, with a fixed interest rate of 1.4975 %, that was effective since January, 2020, and; (ii) an interest rate swap on a total notional amount of $ 50 million, with a fixed interest rate of 1.144 %, that was effective since September, 2019. We measure our interest rate swaps at fair value on a recurring basis. The fair value of our interest rate swaps is based on quotes from third parties. We consider those inputs to be “level 2” in the fair value hierarchy as outlined in the authoritative guidance for disclosures in connection with derivative instruments and hedging activities. At December 31, 2024, the fair value of our interest rate swaps was a net asset of $ 6.4 million which is included in deferred charges and other assets on the accompanying consolidated balance sheet. During the twelve months of 2024, we received approximately $ 5.7 million from the counterparties (approximately $ 2.5 million of which relates to the two swaps that expired on September 16, 2024), adjusted for the previous quarter's accrual, pursuant to the terms of the swaps. During the twelve months of 2023, we received approximately $ 5.8 million from the counterparties (approximately $ 3.3 million of which relates to the two swaps that expired on September 16, 2024), adjusted for the previous quarter's accrual, pursuant to the terms of the swaps. Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either an asset or a liability, with a corresponding amount recorded in accumulated other comprehensive income (“AOCI”) within shareholders’ equity. Amounts are reclassified from AOCI to the income statement in the period or periods the hedged transaction affects earnings. We do not expect any gains or losses on our interest rate swaps to be reclassified to earnings in the next twelve months.

Dividends and Equity Issuance P

Dividends and Equity Issuance Program	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Dividends and Equity Issuance Program	(6) DIVIDENDS AND EQUITY ISSUANCE PROGRAM Dividends: During each of the last three years, dividends were declared and paid by us as follows: • 2024: $ 2.92 per share of which $ 1.98 per share was ordinary income and $ .94 per share was non-dividend distributions . • 2023: $ 2.88 per share of which $ 1.73 per share was ordinary income and $ 1.15 per share was non-dividend distributions. • 2022: $ 2.84 per share of which $ 2.24 per share was ordinary income and $ .60 per share was non-dividend distributions.

Incentive Plans

Incentive Plans	12 Months Ended
	Dec. 31, 2024
Postemployment Benefits [Abstract]
Incentive Plans	(7) INCENTIVE PLANS During 2007, our Board of Trustees and shareholders approved the Universal Health Realty Income Trust 2007 Restricted Stock Plan w hich was amended and restated in 2024, 2020 and 2016 (the “2007 Plan”). An aggregate of 275,000 shares (as amended in 2024) were authorized for issuance under this plan and a total of 182,638 shares, net of cancellations, have been issued pursuant to the terms of this plan, 142,269 of which have vested as of December 31, 2024. At December 31, 2024 there are 92,362 shares remaining for issuance under the terms of the 2007 Plan. During 2024, there were 23,265 restricted Shares of Beneficial Interest, net of cancellations, issued to the Trustees, officers and other personnel of the Trust pursuant to the 2007 Plan at a weighted average grant price of $ 38.24 per share (approximately $ 890,000 in the aggregate). These restricted shares are scheduled to vest in June of 2026 , (the second anniversary date of the grant date). Pursuant to the restricted shares issued during 2024, dividends on unvested stock will be deferred and accumulated prior to the vesting of the shares and paid, in either cash and/or stock, in the aggregate on the vesting date on the shares that ultimately vest. During 2023, there were 17,104 restricted Shares of Beneficial Interest, net of cancellations, issued to the Trustees, officers and other personnel of the Trust pursuant to the 2007 Plan at a weighted average grant price of $ 48.48 per share (approximately $ 829,000 in the aggregate). These restricted shares are scheduled to vest in June of 2025 , (the second anniversary date of the grant date). Pursuant to the restricted shares issued during 2023, dividends on unvested stock will be deferred and accumulated prior to the vesting of the shares and paid, in either cash and/or stock, in the aggregate on the vesting date on the shares that ultimately vest. During 2022, there were 15,064 restricted Shares of Beneficial Interest, net of cancellations, issued to the Trustees, officers and other personnel of the Trust pursuant to the 2007 Plan at a weighted average grant price of $ 52.30 per share (approximately $ 788,000 in the aggregate). The majority of these restricted shares vested in June of 2024 , and additional shares vested in September and November, 2024 (the second anniversary date of each grant date). Pursuant to the restricted shares issued during 2022, dividends on unvested stock were deferred and accumulated prior to the vesting of the shares and paid, in cash in the aggregate upon the vesting of the shares. We expense the grant-date fair value restricted stock awards under the straight-line method over the stated vesting period of the award. In connection with these grants, we recorded compensation expense of $ 853,000 in 2024 and $ 780,000 in each of 2023 and 2022. The remaining expense associated with these grants is approximately $8 20,000 and will be recorded over the remaining weighted average vesting period for outstanding restricted Shares of Beneficial Interest of approximately 1.2 years at December 31, 2024.

Summarized Financial Informatio

Summarized Financial Information of Equity Affiliates	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information of Equity Affiliates	(8) SUMMARIZED FINANCIAL INFORMATION OF EQUITY AFFILIATES In accordance with U. S. GAAP and guidance relating to accounting for investments and real estate ventures, we account for our unconsolidated investments in LLCs/LPs which we do not control using the equity method of accounting. The third-party members in these investments have equal voting rights with regards to issues such as, but not limited to: (i) divestiture of property; (ii) annual budget approval, and; (iii) financing commitments. These investments, which represent 33 % to 95 % non-controlling ownership interests, are recorded initially at our cost and subsequently adjusted for our net equity in the net income, cash contributions to, and distributions from, the investments. Pursuant to certain agreements, allocations of sales proceeds and profits and losses of some of the LLC investments may be allocated disproportionately as compared to ownership interests after specified preferred return rate thresholds have been satisfied. Distributions received from equity method investees in the consolidated statements of cash flows are classified based on the nature of the distribution. Returns on investments are presented net of equity in income from unconsolidated investments as cash flows from operating activities. Returns of investment are classified as cash flows from investing activities. At December 31, 2024, we have non-controlling equity investments or commitments in four jointly-owned LLCs/LPs which own MOBs. As of December 31, 2024, we accounted for these LLCs/LPs on an unconsolidated basis pursuant to the equity method since they are not variable interest entities which we are the primary beneficiary nor do we have a controlling voting interest. The majority of these entities are joint-ventures between us and non-related parties that hold minority ownership interests in the entities. Each entity is generally self-sustained from a cash flow perspective and generates sufficient cash flow to meet its operating cash flow requirements and service the third-party debt (if applicable) that is non-recourse to us. Although there is typically no ongoing financial support required from us to these entities since they are cash-flow sufficient, we may, from time to time, provide funding for certain purposes such as, but not limited to, significant capital expenditures, leasehold improvements and debt financing. Although we are not obligated to do so, if approved by us at our sole discretion, additional cash funding is typically advanced as equity or member loans. These entities maintain property insurance on the properties. The following property table represents the four LLCs or LPs in which we own a non-controlling interest and were accounted for under the equity method as of December 31, 2024: Name of LLC/LP Ownership Property Owned by LLC/LP Suburban Properties 33 % St. Matthews Medical Plaza II Brunswick Associates (a.)(b.) 74 % Mid Coast Hospital MOB FTX MOB Phase II (c.) 95 % Forney Medical Plaza II Grayson Properties II (d.)(e.) 95 % Texoma Medical Plaza II (a.) This LLC has a third-party term loan of $ 8.2 million, which is non-recourse to us, outstanding as of December 31, 2024. (b.) We are the lessee with a third party on a ground lease for land. (c.) During the first quarter of 2023, the LP repaid $ 175,000 of the member loan and the remaining $ 3.3 million member loan balance was converted to an equity investment in the LP. (d.) This LP constructed, owns and operates the Texoma Medical Plaza II which is located in Denison, Texas, on the campus of a hospital owned and operated by a wholly-owned subsidiary of UHS. We have committed to invest up to $ 10.1 million in eq uity and debt financing, of which $ 7.4 million, net, has been funded as of December 31, 2024 . This LP entered into a third-party construction loan commitment, which is non-recourse to us, which has an outstanding balance of $ 6.9 million as of December 31, 2024. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners. The third-party partner's share of the pro rata equity contributions was partially funded with a six-month, $ 128,000 partner loan from us, which was repaid during July, 2024 with interest. Our share of the pro rata equity contributions, as well as the third-party partner loan, were funded utilizing borrowings from our revolving credit agreement. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated. (e.) We are the lessee with a UHS-related party for the land related to this property. Below are the combined statements of income for the four LLCs/LPs accounted for under the equity method at December 31, 2024, 2023 and 2022. For the Year Ended December 31, 2024 2023 2022 (amounts in thousands) Revenues $ 8,707 $ 8,505 $ 8,204 Operating expenses 3,614 3,351 3,177 Depreciation and amortization 1,886 1,873 1,853 Interest, net 584 825 1,061 Net income $ 2,623 $ 2,456 $ 2,113 Our share of net income $ 1,279 $ 1,207 $ 1,191 Below are the combined balance sheets for the four LLCs/LPs that were accounted for under the equity method as of December 31, 2024 and 2023: December 31, 2024 2023 (amounts in thousands) Net property, including construction in progress $ 27,119 $ 28,488 Other assets (a.) 4,678 4,667 Total assets $ 31,797 $ 33,155 Other liabilities (a.) $ 2,405 $ 2,074 Mortgage notes payable, non-recourse to us 15,047 21,206 Equity 14,345 9,875 Total liabilities and equity $ 31,797 $ 33,155 Investments in LLCs before amounts included in accrued expenses and other liabilities 13,948 9,102 Amounts included in accrued expenses and other liabilities ( 1,770 ) ( 1,729 ) Our share of equity in LLCs, net $ 12,178 $ 7,373 (a.) Other assets and other liabilities as of December 31, 2024 and 2023, include approximately $ 649,000 and $ 651,000 , respectively, of right-of-use land assets and right-of-use land liabilities related to ground leases whereby the LLC/LP is the lessee, with third parties, including subsidiaries of UHS. As of December 31, 2024, aggregate principal amounts due on mortgage notes payable by unconsolidated LLCs, which are accounted for under the equity method and are non-recourse to us, are as follows (amounts in thousands): 2025 $ 476 2026 6,976 2027 301 2028 310 2029 319 2030 and thereafter 6,665 Total $ 15,047 Mortgage Loan Balance (a.) Name of LLC/LP 12/31/2024 12/31/2023 Maturity Date Brunswick Associates (2.80% fixed rate mortgage loan) $ 8,173 $ 8,453 December, 2030 Grayson Properties II (3.70% fixed rate construction loan) (b.) 6,874 12,753 March, 2026 $ 15,047 $ 21,206 (a.) All mortgage loans require monthly principal payments through maturity and include a balloon principal payment upon maturity. (b.) This construction loan required interest on the outstanding principal balance to be paid on a monthly basis through December 1, 2022. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners, as discussed above. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated. Pursuant to the operating and/or partnership agreements of the four LLCs/LPs in which we continue to hold non-controlling ownership interests, the third-party member and the Trust, at any time, potentially subject to certain conditions, have the right to make an offer (“Offering Member”) to the other member(s) (“Non-Offering Member”) in which it either agrees to: (i) sell the entire ownership interest of the Offering Member to the Non-Offering Member (“Offer to Sell”) at a price as determined by the Offering Member (“Transfer Price”), or; (ii) purchase the entire ownership interest of the Non-Offering Member (“Offer to Purchase”) at the equivalent proportionate Transfer Price. The Non-Offering Member has 60 to 90 days to either: (i) purchase the entire ownership interest of the Offering Member at the Transfer Price, or; (ii) sell its entire ownership interest to the Offering Member at the equivalent proportionate Transfer Price. The closing of the transfer must occur within 60 to 90 days of the acceptance by the Non-Offering Member.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	(9) SEGMENT REPORTING An operating segment is a component of a public entity that engages in business activities from which it may earn revenues and incur expenses and has discrete financial information available that is regularly reviewed by the chief operating decision maker (the “CODM”). Our primary business is investing in and leasing healthcare and human service facilities through direct ownership or through joint ventures, which aggregate into a single reportable segment. We actively manage our portfolio of healthcare and human service facilities and may from time to time make decisions to sell lower performing properties not meeting our long-term investment objectives. The proceeds of sales are typically reinvested in new developments or acquisitions, which we believe will meet our planned rate of return. It is our intent that all healthcare and human service facilities will be owned or developed for investment purposes. Our consolidated revenue and consolidated net income are generated from the operation of our investment portfolio. Our CODM is the Chairman of the Board, Chief Executive Officer and President . Our portfolio is located throughout the United States, however, we do not distinguish or group our operations on a geographical or any other basis for purposes of allocating resources or measuring performance. We review operating and financial data for each property on an individual basis; therefore, each property represents an individual operating segment. Individual properties have been aggregated into one reportable segment based upon their similarities with regard to both the nature and economics of the facilities, tenants and operational processes, as well as long-term average financial performance. No individual property meets the requirements necessary to be considered its own reportable segment. We do not have intra-entity sales or transfers. The presentation of financial results as a single reportable segment is consistent with the way our CODM allocates resources or measures performance. The accounting policies of our portfolio are the same as those described in the summary of significant accounting policies. The CODM measures and assesses financial performance generated from each property primarily based upon consolidated net income and decides how to allocate resources. Consolidated net income is also used to monitor budget versus actual results in assessing the performance of our properties. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM does not regularly review total assets for our single reportable segment, since total assets are generally not used to assess operating performance. The CODM uses consolidated net income to evaluate income from segment assets in deciding whether to reinvest profits into our portfolio of healthcare and human service facilities for recurring capital expenditures, or into other parts of the entity, such as for acquisitions, new developments, scheduled interest and principal payments on our debt, or to pay dividends. The following table presents information on our reported segment revenue and segment expenses that are included within our single reportable operating segment measure of profit or loss: Year ended December 31, 2024 2023 2022 Revenue: Revenues from facilities $ 93,292 $ 89,762 $ 84,816 Interest income on financing leases - UHS facilities 5,432 5,458 5,474 All other revenues 287 355 335 Total revenue $ 99,011 $ 95,575 $ 90,625 Expenses: Depreciation and amortization ( 27,421 ) ( 27,733 ) ( 26,557 ) Advisory fees to UHS ( 5,481 ) ( 5,323 ) ( 5,097 ) Other operating expenses (a.) ( 29,313 ) ( 31,170 ) ( 28,305 ) Equity in income of unconsolidated LLCs 1,279 1,207 1,191 Loss on divestiture of real estate assets - ( 232 ) - Interest expense, net ( 18,841 ) ( 16,924 ) ( 10,755 ) Consolidated net income $ 19,234 $ 15,400 $ 21,102 (a) Property operating expenses is primarily made up of property tax, utilities, maintenance, insurance, and other costs related to the leasing of our real estate properties. Our CODM is not provided with further disaggregation and uses total other operating expenses to manage the business.

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation	S chedule III Universal Health Realty Income Trust Real Estate and Accumulated Depreciation — December 31, 2024 (amounts in thousands) Gross amount at Date of which carried Completion of Initial Cost at end of period Accumulated Construction, Description Encumbrance Land Building Adjustments Land Building & CIP Total Depreciation Acquisition Date Average McAllen Medical Center McAllen, Texas — $ 4,720 $ 31,442 $ 10,189 $ 6,281 $ 40,070 — $ 46,351 $ 33,837 1994 1986 42 Years Wellington Regional West Palm Beach, Florida — 1,190 14,652 17,370 1,663 31,549 — 33,212 25,156 2006 1986 42 Years Evansville Facility Evansville, Indiana — 500 6,945 1,062 500 8,007 — 8,507 7,100 1993 1989 40 Years 4058 W. Melrose Facility Central Chicago, Illinois — 158 6,404 ( 6,404 ) 158 — — 158 — 1993 1986 25 Years Family Doctor’s Medical Shreveport, Louisiana — 54 1,526 549 54 2,075 — 2,129 1,410 1991 1995 45 Years Professional Buildings at Kingwood, Texas (d.) — 439 1,837 ( 287 ) 439 1,550 — 1,989 816 1995 1995 45 Years Chesterbrook Academy Audubon, Pennsylvania — 307 996 — 307 996 — 1,303 631 1996 1996 45 Years Chesterbrook Academy New Britain, Pennsylvania — 250 744 — 250 744 — 994 480 1991 1996 45 Years Chesterbrook Academy Uwchlan, Pennsylvania — 180 815 — 180 815 — 995 513 1992 1996 45 Years Chesterbrook Academy Newtown, Pennsylvania — 195 749 — 195 749 — 944 481 1992 1996 45 Years The Southern Crescent — 1,130 5,092 ( 1,881 ) 1,130 3,211 — 4,341 2,906 1994 1996 45 Years Southern Crescent Riverdale, Georgia — — — 5,389 806 4,583 — 5,389 3,779 2000 1998 35 Years Cypresswood Spring, Texas (e.) — 573 3,842 ( 1,599 ) 573 2,243 — 2,816 893 1997 1997 35 Years 701 South Tonopah Building Las Vegas, Nevada (f.) — — 1,579 68 — 1,647 — 1,647 1,647 1999 1999 25 Years Danbury Medical Plaza Danbury, Connecticut — 1,151 5,176 1,576 1,151 6,752 — 7,903 5,230 2000 2000 30 Years Apache Junction Medical Plaza — 240 3,590 1,414 240 5,004 5 5,249 3,044 2004 2004 30 Years BRB Medical Office — 430 8,970 1,960 430 10,930 — 11,360 4,222 2010 2010 37 Years Centennial Hills Medical — — 19,890 4,000 — 23,890 374 24,264 10,987 2006 2006 34 Years Desert Springs Medical Plaza — 1,200 9,560 2,912 1,200 12,472 17 13,689 6,673 1998 1998 30 Years 700 Shadow Lane & — 400 11,300 5,883 400 17,183 930 18,513 9,321 2003 2003 30 Years Spring Valley Hospital MOB I — — 9,500 2,441 — 11,941 369 12,310 5,602 2004 2004 35 Years Spring Valley Hospital — — 9,800 2,162 — 11,962 338 12,300 5,479 2006 2006 34 Years Summerlin Hospital — 460 15,440 2,226 460 17,666 1,409 19,535 9,138 1999 1999 30 Years Schedule III Universal Health Realty Income Trust Real Estate and Accumulated Depreciation — December 31, 2024 (continued) (amounts in thousands) Gross amount at Date of which carried Completion of Initial Cost at end of period Accumulated Construction, Description Encumbrance Land Building Adjustments Land Building & CIP Total Depreciation Acquisition Date Average Summerlin Hospital — 370 16,830 3,022 370 19,852 783 21,005 9,595 2000 2000 30 Years Summerlin Hospital — — 14,900 3,500 — 18,400 39 18,439 7,363 2009 2009 36 Years Emory at Dunwoody Dunwoody, GA — 782 3,455 — 782 3,455 4,237 1,635 2011 2011 35 Years Forney Medical Plaza Forney, TX — 910 11,960 1,157 910 13,117 6 14,033 5,845 2011 2011 35 Years Lake Pointe Medical Arts Rowlett, TX — 1,100 9,000 1,132 1,100 10,132 11,232 4,294 2011 2011 35 Years Tuscan Professional Building Irving, TX 363 1,100 12,525 3,703 1,100 16,228 0 17,328 7,127 2011 2011 35 Years PeaceHealth Medical Bellingham, WA — 1,900 24,910 921 1,900 25,831 — 27,731 10,654 2012 2012 35 Years Northwest Texas Amarillo, TX (f.) — — 7,180 1,590 — 8,770 — 8,770 3,525 2012 2012 35 Years Ward Eagle Office Village Farmington Hills, MI — 220 3,220 177 220 3,397 — 3,617 1,364 2013 2013 35 Years 5004 Poole Road MOB Denison, TX — 96 529 — 96 529 — 625 200 2013 2013 35 Years Desert Valley Medical — 2,280 4,624 1,408 2,280 6,032 14 8,326 2,836 1996 1996 30 Years Hanover Emergency Center Mechanicsville, VA — 1,300 6,224 — 1,300 6,224 — 7,524 2,147 2014 2014 35 Years Haas Medical Office Park Ottumwa, IA (g.) — — 3,571 — — 3,571 — 3,571 1,185 2015 2015 35 Years South Texas ER at Mission Mission, TX — 1,441 4,696 — 1,441 4,696 — 6,137 1,562 2015 2015 35 Years 3811 E. Bell — 930 6,929 2,403 930 9,332 266 10,528 4,423 2010 2010 30 Years The Northwest Medical Center Bentonville, AR — 1,100 2,870 140 1,100 3,010 — 4,110 1,091 2014 2014 35 Years Rosenberg Children’s 11,503 — 23,302 158 — 23,460 5 23,465 8,186 2001 2001 35 Years Phoenix Children’s East 7,646 1,050 10,900 — 1,050 10,900 — 11,950 3,780 2006 2006 35 Years Palmdale Medical Plaza — — 10,555 1,869 — 12,424 837 13,261 4,823 2008 2008 34 Years Piedmont-Roswell Physician Center Sandy Springs, GA — 2,338 2,128 — 2,338 2,128 — 4,466 890 2015 2015 30 Years Piedmont-Vinings Physician Center Vinings, GA — 1,348 2,418 — 1,348 2,418 — 3,766 978 2015 2015 30 Years Santa Fe Professional — 1,090 1,960 671 1,090 2,631 74 3,795 1,278 1999 1999 30 Years Sierra San Antonio Medical — — 11,538 1,381 — 12,919 734 13,653 5,374 2006 2006 30 Years Vista Medical Terrace & — — 9,276 2,576 — 11,852 123 11,975 5,564 2008 2008 30 Years South Texas ER at Weslaco Weslaco ,TX — 1,749 4,879 — 1,749 4,879 — 6,628 1,631 2015 2015 35 Years Chandler Corporate Center III Chandler, AZ — 2,328 14,131 — 2,328 14,131 — 16,459 5,864 2016 2016 35 Years Frederick Crestwood MOB Frederick, MD — 2,265 18,731 — 2,265 18,731 — 20,996 6,004 2016 2016 35 Years Madison Professional Madison, AL — 2,296 6,411 137 2,296 6,548 — 8,844 2,247 2016 2016 35 Years 2704 North Tenaya Way MOB Las Vegas, NV — 3,032 10,602 — 3,032 10,602 — 13,634 3,206 2016 2016 35 Years Henderson Medical Plaza Henderson, NV (f.) — — 10,718 10,592 — 21,310 56 21,366 10,171 2017 2017 35 Years Health Center at Hamburg Hamburg, PA — 696 3,406 — 696 3,406 — 4,102 1,023 2017 2017 35 Years Las Palmas Del Sol Emergency Center - West TX — 801 5,029 — 801 5,029 — 5,830 1,367 2017 2017 35 Years Beaumont Medical Sleep Center Building — 254 2,968 — 254 2,968 — 3,222 787 2018 2018 35 Years Clive Behavioral Health — 1,330 33,954 — 1,330 33,954 — 35,284 5,678 2020 2019 35 Years Gross amount at Date of which carried Completion of Initial Cost at end of period Accumulated Construction, Description Encumbrance Land Building Adjustments Land Building & CIP Total Depreciation Acquisition Date Average Bellin Health Family Medicine Center — 605 3,906 — 605 3,906 — 4,511 809 2019 2019 35 Years Sand Point Medical Properties — 265 1,654 — 265 1,654 — 1,919 271 2020 2020 35 Years Fire Mesa, LLC 2,400 9,671 2,400 9,671 12,071 1,662 2021 2021 35 Years Texoma Medical Plaza — — 19,771 575 — 20,346 — 20,346 7,639 2021 2021 39 Years Sierra Medical Plaza I — — 29,275 — — 29,275 — 29,275 1,975 2023 2021 35 Years Beaumont Heart & Vascular Center — 537 4,434 537 4,434 — 4,971 555 2022 2022 35 Years 140 Thomas Johnson Drive — 1,197 5,635 35 1,197 5,670 — 6,867 627 2022 2022 35 Years McAllen Doctor's Center — 1,343 4,440 1,343 4,440 1,316 7,099 352 2023 2023 35 Years TOTALS (h.) $ 19,512 $ 54,030 $ 564,964 $ 86,177 $ 56,870 $ 648,301 $ 7,695 $ 712,866 $ 286,932 a. Consists of costs capitalized subsequent to acquisition or initial construction, purchase price adjustments, and write-off of costs of fully depreciated assets, divested assets, asset impairments and hurricane-damaged assets. b. During 2008, a $ 4.6 million provision for asset impairment was recorded in connection with the real estate assets of Southern Crescent Center I & Southern Crescent Center II. c. Consists of outstanding balances as of December 31, 2024 on third-party debt that is non-recourse to us. d. Carrying value of depreciable assets were written down to zero as a result of substantial damage from Hurricane Harvey during the third quarter of 2017. e. Carrying value of depreciable assets were written down as a result of substantial damage from Hurricane Harvey during the third quarter of 2017. f. We are the lessee with a UHS-related party on a ground lease for land. g. We are the lessee with a third party on a ground lease for land. h. The aggregate cost for federal income tax purposes is $ 726 million (unaudited) with a net book value of $ 421 million (unaudited). In addition to the real estate properties listed in the table above, as part of the December, 2021 asset purchase and sale agreement with UHS, as amended, and as discussed herein, a wholly-owned subsidiary of UHS purchased the real estate assets of the Inland Valley Campus of Southwest Healthcare System from us, and transferred the real estate assets of two wholly-owned subsidiaries of UHS (Aiken Regional Medical Center and Canyon Creek Behavioral Health). The real estate assets of Aiken Regional Medical Center and Canyon Creek Behavioral Health are recorded as a financing receivable from UHS on our Consolidated Balance Sheet at December 31, 2024. Please see Note 2 for additional disclosure. UNIVERSAL HEALTH REALTY INCOME TRUST NOTES TO SC HEDULE III DECEMBER 31, 2024 (amounts in thousands) (1) RECONCILIATION OF REAL ESTATE PROPERTIES The following table reconciles the Real Estate Properties from January 1, 2022 to December 31, 2024: 2024 2023 2022 Balance at January 1, $ 706,244 $ 697,969 $ 663,733 Additions (a.) 6,647 17,505 22,555 Acquisitions — 5,783 11,802 Disposals/Divestitures (b.) ( 25 ) ( 15,013 ) ( 121 ) Balance at December 31, $ 712,866 $ 706,244 $ 697,969 (2) RECONCILIATION OF ACCUMULATED DEPRECIATION The following table reconciles the Accumulated Depreciation from January 1, 2022 to December 31, 2024: 2024 2023 2022 Balance at January 1, $ 262,449 $ 248,772 $ 225,584 Disposals/Divestitures (b.) ( 25 ) ( 10,882 ) ( 121 ) Depreciation expense 24,508 24,559 23,309 Balance at December 31, $ 286,932 $ 262,449 $ 248,772 (a) Included in the additions for 2024, 2023 and 2022 are approximately $ 855,000 , $ 7.5 million an d $ 18.0 million related to the construction of a new MOB , which was substantially completed in March, 2023, and is located on the c ampus of a UHS wholly-owned hospital that was completed and opened in April, 2022. (b) The 2024 year includes the disposal of $ 25,000 in fully depreciated furniture. The 2023 year includes the sale of the Corpus Christi facility, as well as the demolition of the building previously located on the now-vacant land in Chicago, Illinois.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Universal Health Realty Income Trust and subsidiaries (the “Trust”) is organized as a Maryland real estate investment trust. We invest in healthcare and human-service related facilities currently including acute care hospitals, behavioral health care hospitals, specialty facilities, free-standing emergency departments, childcare centers and medical/office buildings. As of February 26, 2025, we have seventy-six real estate investments located in twenty-one states consisting of: • six hospital facilities consisting of three acute care hospitals and three behavioral health care hospitals; • four free-standing emergency departments (“FEDs”); • sixty medical/office buildings (“MOB s”), including four owned by unconsolidated limited liability companies (“LLCs”)/limited liability partnerships (“LPs”); • four preschool and childcare centers; • one specialty facility located in Evansville, Indiana, that is currently vacant, and; • one vacant land investment located in Chicago, Illinois. Many of the factors that could affect our future results are beyond our control or ability to predict. Future operations and financial results of our tenants, and in turn ours, could be materially impacted by numerous factors and future developments. Such factors and developments include, but are not limited to, the impact of changes in patient volumes and payer mix caused by deteriorating macroeconomic conditions (including increases in uninsured and underinsured patients as the result of business closings and layoffs); potential disruptions to clinical staffing and shortages and disruptions related to supplies required for our tenants’ employees and patients, including equipment, pharmaceuticals and medical supplies, potential increases to expenses incurred by our tenants related to staffing, supply chain or other expenditures; the impact of our indebtedness and the ability to refinance such indebtedness on acceptable terms; disruptions in the financial markets and the business of financial institutions which could impact our ability to access capital or increase associated borrowing costs; and changes in general economic conditions nationally and regionally in the markets our properties are located, including higher sustained rates of unemployment and underemployment levels and reduced consumer spending and confidence. Certain factors may result in the inability or unwillingness on the part of some of our tenants to make timely payment of their rent to us at current levels or to seek to amend or terminate their leases which, in turn, would have an adverse effect on our occupancy levels and our revenue and cash flow and the value of our properties, and potentially, our ability to maintain our dividend at current levels. Decreases in cash flows and results of operations may have an impact on the inputs and assumptions used in significant accounting estimates, including potential impairments of intangible and long-lived assets. Our future results of operations could be unfavorably impacted by government regulations and deterioration in general economic and business conditions which could result in increases in the number of people unemployed and/or uninsured. Should that occur, it may result in decreased occupancy rates at our MOBs as well as a reduction in the revenues earned by the operators of our hospital facilities which would unfavorably impact our future bonus rental revenue (on one Universal Health Services, Inc. hospital facility) and may potentially have a negative impact on the future lease renewal terms and the underlying value of the hospital properties. Management is unable to predict the effect, if any, that these factors may have on the operating results of our lessees or on their ability to meet their obligations under the terms of their leases with us. Management’s estimate of future cash flows from our leased properties could be materially affected in the near term, if certain of the leases are not renewed or renewed with less favorable terms at the end of their lease terms. In addition, the increase in interest rates has substantially increased our costs of borrowing and reduced our ability to access the capital markets on favorable terms. Additional increases in interest rates could have a significant unfavorable impact on our future results of operations and the resulting effect on the capital markets could adversely affect our ability to carry out our strategy.
Purchase Accounting for Acquisition of Investments in Real Estate	Purchase Accounting for Acquisition of Investments in Real Estate Purchase accounting is applied to the assets and liabilities related to most real estate investments acquired from third parties. In accordance with current accounting guidance, we account for most of our property acquisitions as acquisitions of assets, which requires the capitalization of acquisition costs to the underlying assets and prohibits the recognition of goodwill or bargain purchase gains. The fair value of most of the real estate acquired is allocated to the acquired tangible assets, consisting primarily of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, and acquired ground leases, based in each case on their fair values. Loan premiums, in the case of above market rate assumed loans, or loan discounts, in the case of below market assumed loans, are recorded based on the fair value of any loans assumed in connection with acquiring the real estate. Please see additional disclosure below regarding “Financing Assets”. The fair values of the tangible assets of an acquired property are determined based on comparable land sales for land and replacement costs adjusted for physical and market obsolescence for the improvements. The fair values of the tangible assets of an acquired property are also determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a property based on assumptions that a market participant would use, which is similar to methods used by independent appraisers. In addition, there is intangible value related to having tenants leasing space in the purchased property, which is referred to as in-place lease value. Such value results primarily from the buyer of a leased property avoiding the costs associated with leasing the property and also avoiding rent losses and unreimbursed operating expenses during the hypothetical lease-up period. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related costs. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below market fixed rate renewal periods. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. The capitalized below-market lease values, also referred to as acquired lease obligations, are amortized as an increase to rental income over the initial terms of the respective leases. At December 31, 2 024, our net intangible assets total $ 7.3 million (net of $ 11.3 million accumulated amortization) and primarily consist of the value of in-place leases. At December 31, 2024, our net intangible value of in-place leases total $ 6.1 million (net of $ 9.8 million of accumulated amortization) and will be amortized over the remaining lease terms (aggregate weighted average of 4.6 years at December 31, 2024) and are expected to result in estimated aggregate amortization expense of, $ 1.5 million, $ 1.3 million, $ 1.0 million, $ 568,000 and $ 1.8 million for 2025, 2026, 2027, 2028 and 2029 and thereafter, respectively. Amortization expense on intangible values of in place leases was $ 1.6 million for the year ended December 31, 2024, $ 1.9 million for the year ended December 31, 2023 and $ 2.1 million for the year ended December 31, 2022. The remaining amount of our net intangible assets primarily consists of above-market leases. At December 31, 2024, our net intangible value of above-market leases total $ 991,000 (net of $ 1.4 million of accumulated amortization) and will be amortized over the remaining lease terms (aggregate weighted average of approximately 4.6 years at December 31, 2024) and are expected to result in estimated aggregate amortization offset to rental revenue of approximately $ 215,000 in 2025, $ 209,000 in 2026, $ 197,000 in 2027, $ 137,000 in 2028 and $ 233,000 in 2029 and thereafter. Amortization offset to rental revenue on intangible values of above-market leases was $ 215,000 , $ 246,000 and $ 247,000 for the years ended December 31, 2024, 2023 and 2022, respectively. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and capital improvements. The estimated original useful lives of our buildings range from 25 - 45 years and the estimated original useful lives of capital improvements ranges from 3 - 35 years. On a consolidated basis, depreciation expense was $ 24.5 million for the year ended December 31, 2024 , $ 24.6 million for the year ended December 31, 2023 and $ 23.3 million for the year ended December 31, 2022.
Financing Assets	Financing Assets As discussed in Note 2 – Relationship with UHS and Related Party Transactions, on December 31, 2021 we entered into an asset purchase and sale agreement, as amended, with UHS and certain of its affiliates. Pursuant to the agreement, UHS purchased from us the real estate assets of the Inland Valley Campus of Southwest Healthcare System (“Inland Valley”) and transferred to us the real estate assets of Aiken Regional Medical Center (“Aiken”) and Canyon Creek Behavioral Health (“Canyon Creek”). In connection with this transaction, Aiken and Canyon Creek (as lessees), entered into a master lease and individual property leases (with us as lessor), as amended, for initial lease terms of approximately twelve years , ending on December 31, 2033. As a result of UHS' purchase option within the lease agreements of Aiken and Canyon Creek, the transaction is accounted for as a failed sale leaseback in accordance with U.S. GAAP and the properties acquired by us in connection with the asset purchase and sale agreement with UHS, as amended, were accounted for as financing arrangements and our consolidated balance sheets as of December 31, 2024 and December 31, 2023 include financing receivables related to this transaction of $ 82.8 million and $ 83.3 million, respectively. As of December 31, 2024, there are no indicators of impairment and the financing receivable will be assessed for recoverability in accordance with our asset impairment policy.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investment instruments with original maturities of three months or less to be cash equivalents.
Asset Impairment	Asset Impairment We review each of our properties for indicators that its carrying amount may not be recoverable. Examples of such indicators may include a significant decrease in the market price of the property, a change in the expected holding period for the property, a significant adverse change in how the property is being used or expected to be used based on the underwriting at the time of acquisition, an accumulation of costs significantly in excess of the amount originally expected for the acquisition or development of the property, or a history of operating or cash flow losses of the property. When such impairment indicators exist, we review an estimate of the future undiscounted net cash flows (excluding interest charges) expected to result from the real estate investment’s use and eventual disposition and compare that estimate to the carrying value of the property. We consider factors such as future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If our future undiscounted net cash flow evaluation indicates that we are unable to recover the carrying value of a real estate investment, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results in future periods. Since cash flows on properties considered to be long-lived assets to be held and used are considered on an undiscounted basis to determine whether the carrying value of a property is recoverable, our strategy of holding properties over the long-term directly decreases the likelihood of their carrying values not being recoverable and therefore requiring the recording of an impairment loss. If our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material. If we determine that the asset fails the recoverability test, the affected assets must be reduced to their fair value. We generally estimate the fair value of rental properties utilizing a discounted cash flow analysis that includes projections of future revenues, expenses and capital improvement costs that a market participant would use based on the highest and best use of the asset, which is similar to the income approach that is commonly utilized by appraisers. In certain cases, we may supplement this analysis by obtaining outside broker opinions of value or third-party appraisals. In considering whether to classify a property as held for sale, we consider factors such as whether management has committed to a plan to sell the property, the property is available for immediate sale in its present condition for a price that is reasonable in relation to its current value, the sale of the property is probable, and actions required for management to complete the plan indicate that it is unlikely that any significant changes will made to the plan. If all the criteria are met, we classify the property as held for sale. Upon being classified as held for sale, depreciation and amortization related to the property ceases and it is recorded at the lower of its carrying amount or fair value less cost to sell. The assets and related liabilities of the property are classified separately on the consolidated balance sheets for the most recent reporting period. Only those assets held for sale that constitute a strategic shift or that will have a major effect on our operations are classified as discontinued operations.
Investments in Limited Liability Companies ("LLCs")	Investments in Limited Liability Companies (“LLCs”) In accordance with U.S. GAAP and guidance relating to accounting for investments and real estate ventures, we account for our unconsolidated investments in LLCs/LPs which we do not control using the equity method of accounting. The third-party members in these investments have equal voting rights with regards to issues such as, but not limited to: (i) divestiture of property; (ii) annual budget approval, and; (iii) financing commitments. These investments, which represent 33 % to 95 % non-controlling ownership interests, are recorded initially at our cost and subsequently adjusted for our net equity in the net income, cash contributions to, and distributions from, the investments. Pursuant to certain agreements, allocations of sales proceeds and profits and losses of some of the LLC investments may be allocated disproportionately as compared to ownership interests after specified preferred return rate thresholds have been satisfied. Distributions received from equity method investees in the consolidated statements of cash flows are classified based upon the nature of the distribution. Returns on investments are presented net of equity in income from unconsolidated investments as cash flows from operating activities. Returns of investments are classified as cash flows from investing activities. At December 31, 2024, we have non-controlling equity investments or commitments in four jointly-owned LLCs/LPs which own MOBs. As of December 31, 2024 we accounted for these LLCs/LPs on an unconsolidated basis pursuant to the equity method since they are not variable interest entities which we are the primary beneficiary nor do we have a controlling voting interest. The majority of these entities are joint-ventures between us and non-related parties that hold minority ownership interests in the entities. Each entity is generally self-sustained from a cash flow perspective and generates sufficient cash flow to meet its operating cash flow requirements and service the third-party debt (if applicable) that is non-recourse to us. Although there is typically no ongoing financial support required from us to these entities since they are cash-flow sufficient, we may, from time to time, provide funding for certain purposes such as, but not limited to, significant capital expenditures, leasehold improvements and debt financing. Although we are not obligated to do so, if approved by us at our sole discretion, additional cash funding is typically advanced as equity or member loans. These entities maintain property insurance on the properties. An other-than-temporary impairment of an investment in an unconsolidated LLC is recognized when the carrying value of the investment is not considered recoverable based on evaluation of the severity and duration of the decline in value, including projected declines in cash flow. To the extent impairment has occurred, the excess carrying value of the asset over its estimated fair value is charged to income.
Federal Income Taxes	Federal Income Taxes No provision has been made for federal income tax purposes since we qualify as a real estate investment trust under Sections 856 to 860 of the Internal Revenue Code of 1986, and intend to continue to remain so qualified. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute at least 90 % of our annual REIT taxable income to shareholders. As a REIT, we generally will not be subject to federal, state or local income tax on income that we distribute as dividends to our shareholders. We are subject to a federal excise tax computed on a calendar year basis. The excise tax equals 4 % of the amount by which 85% of our ordinary income plus 95% of any capital gain income for the calendar year exceeds cash distributions during the calendar year, as defined. No provision for excise tax has been reflected in the financial statements as no tax was due. Earnings and profits, which determine the taxability of dividends to shareholders, will differ from net income reported for financial reporting purposes due to the differences for federal tax purposes in the cost basis of assets and in the estimated useful lives used to compute depreciation and the recording of provision for impairment losses. The aggregate gross cost basis and net book value of the properties for federal income tax purposes are approximately $ 726 million (unaudited) and $ 421 million (unaudited), respectively, at December 31, 2024. The aggregate cost basis and net book value of the properties for federal income tax purposes were approximately $ 710 million (unaudited) and $ 422 million (unaudited), respectively, at December 31, 2023.
Stock-Based Compensation	Stock-Based Compensation We expense the grant-date fair value of restricted stock awards over the vesting period. We recognize the grant-date fair value of equity-based compensation and account for these transactions using the fair-value based method. The expense associated with share-based compensation arrangements is a non-cash charge. In the Consolidated Statements of Cash Flows, stock-based compensation expense is an adjustment to reconcile net income to cash provided by operating activities.
Fair Value	Fair Value Fair value is a market-based measurement, not an entity-specific measurement and determined based upon the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, accounting requirements establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Level 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). In instances when it is necessary to establish the fair value of our real estate investments and investments in LLCs we use unobservable inputs which are typically based on our own assumptions. The fair value of our real estate investments, components of real estate investments and debt assumed in conjunction with acquisition and impairment activity, are considered to be Level 3 valuations as they are primarily based upon an income capitalization approach. Significant inputs into the models used to determine fair value of real estate investments and components of real estate investments include future cash flow projections, holding period, terminal capitalization rate and discount rates. Additionally, the fair value of land takes into consideration comparable sales, as adjusted for site specific factors. The fair value of real estate investments is based upon significant judgments made by management, and accordingly, we typically obtain assistance from third party valuation specialists. Significant inputs into the models used to determine the fair value of assumed mortgages included the outstanding balance, term, stated interest rate and current market rate of the mortgage. The carrying amounts reported in the balance sheet for cash, receivables, and short-term borrowings approximate their fair values due to the short-term nature of these instruments. Accordingly, these items are excluded from the fair value disclosures included elsewhere in these notes to the consolidated financial statements.
Concentration of Revenues	Concentration of Revenues The rental revenue earned pursuant to the lease on McAllen Medical Center, which is leased to a related party (see Note 2), generated approximately 9 % during each of 2024, 2023 and 2022, of our consolidated revenues.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Standards	New Accounting Standards Except as noted below there were no new accounting pronouncements that impacted or are expected to impact us. Segment Reporting In November, 2023, the FASB issued ASU 2023-07, Segment Reporting, Topic 280, "Improvements to Reportable Segment Disclosures ("ASU 2023-07") which was issued to improve the disclosures about a public entity's reportable segments and address requests from investors for additional, more detailed information about a reportable segment's expenses. The ASU requires existing annual segment disclosures to also be disclosed on an interim basis and also requires disclosures around significant segment expenses and disclosures to identify the title and position of the chief operat ing decision maker ("CODM") . The standard is effective for the fiscal year ended December 31, 2024 and interim periods thereafter. The adoption of this standard did not have a material impact on our consolidated financial statements. See Note 9 to the consolidated financial statements-Segment Reporting for further disclosure around our segment reporting. Reference Rate Reform In March 2020, the FASB issued an accounting standard classified under FASB ASC Topic 848, “Reference Rate Reform.” The amendments in this update contain practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASC 848 is optional and may be elected over time as reference rate reform activities occur. Beginning in the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”) which was issued to defer the sunset date of Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform to December 31, 2024. ASU 2022-06 is effective immediately for all companies. ASU 2022-06 had no impact on our consolidated financial statements for the year ended December 31, 2024.

Relationship with UHS and Rel_2

Relationship with UHS and Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Existing Lease Terms and Renewal Options for Each of UHS Hospital Facilities	The table below details the existing lease terms and renewal options for each of the hospital leases that are related to UHS as of January 1, 2025, co nsisting of three acute care hospitals and three behavioral health hospitals: Hospital Name Annual End of Renewal McAllen Medical Center $ 5,485,000 December, 2026 5 (a) Wellington Regional Medical Center $ 6,805,000 December, 2026 5 (b) Aiken Regional Medical Center/Aurora Pavilion Behavioral Health Services $ 4,164,000 December, 2033 35 (c) Canyon Creek Behavioral Health $ 1,882,000 December, 2033 35 (c) Clive Behavioral Health $ 2,851,000 December, 2040 50 (d) (a) UHS has one 5-year renewal option at existing lease rates (through 2031 ). (b) UHS has one 5-year renewal option at fair market value lease rates (through 2031 ). The annual rental will increase by 2.5 % on an annual compounded basis on each January 1 st through 2026. (c) UHS has seven 5-year renewal options at fair market value lease rates ( 2034 through 2068 ). The annual rental rate will increase by 2.25 % on a cumulative and compounded basis on each January 1 st through 2033. (d) The UHS-related joint venture has five 10-year renewal options; the first three of the five 10-year renewal options will be at computed lease rates as stipulated in the lease ( 2041 through 2070 ) and the last two 10-year renewal options will be at fair market lease rates ( 2071 through 2090 ). On each January 1 st through 2040 (and potentially through 2070 if the first three of five, 10-year renewal options are exercised), the annual rental will increase by 2.75 % on a cumulative and compounded basis.

Lease Accounting (Tables)

Lease Accounting (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Components of the "Lease Revenue - UHS facilities" and "Lease Revenue - Non-related Parties" Captions	The components of the “Lease revenue – UHS facilities” and “Lease revenue – Non-related parties” captions for the years ended 2024, 2023 and 2022 are disaggregated below (in thousands). Base rents are primarily stated rent amounts provided for under the leases that are recognized on a straight-line basis over the term of the lease. Bonus rents and tenant reimbursements represent amounts where tenants are contractually obligated to pay an amount that is variable in nature. Year Ended December 31, 2024 2023 2022 UHS Facilities: Base rents $ 27,320 $ 26,173 $ 24,485 Bonus rents (a.) 3,107 2,953 2,801 Tenant reimbursements 3,200 3,497 2,668 Lease Revenue - UHS facilities $ 33,627 $ 32,623 $ 29,954 Non-related parties: Base rents $ 44,332 $ 42,159 $ 40,533 Tenant reimbursements 13,328 12,834 11,471 Lease Revenue - Non-related parties $ 57,660 $ 54,993 $ 52,004
Schedule of Minimum Future Base Rents from Non-Cancelable Leases (Topic 842)	Minimum future base rents from non-cancelable leases related to properties included in our financial statements on a consolidated basis, excluding increases resulting from changes in the consumer price index, bonus rents and the impact of straight-line rent adjustments, are as follows (amounts in thousands): For the year ended December 31, Amount 2025 $ 77,073 2026 70,249 2027 50,146 2028 41,923 2029 34,946 Thereafter 125,921 Total minimum base rents $ 400,258
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows (in thousands): December 31, 2024 Operating Leases Right-of-use land assets, net-operating leases $ 10,918 Ground lease liabilities, net $ 10,918 Weighted Average remaining lease term, years Operating leases 55.3 Weighted Average discount rate Operating leases 6.29 %
Schedule of Maturities of lease liabilities	Maturities of lease liabilities are as follows (amounts in thousands): Year ended December 31: 2025 $ 704 2026 704 2027 704 2028 704 2029 704 Later years 35,322 Total undiscounted lease payments $ 38,842 Less imputed interest 27,924 Total $ 10,918

Debt and Financial Instruments

Debt and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Required Compliance Ratios Giving Effect to New Covenants in Credit Agreements	The following table includes a summary of the required compliance ratios at December 31, 2024 and 2023, giving effect to the covenants contained in the Credit Agreements in effect on the respective dates (dollar amounts in thousands): Covenant December 31, 2024 December 31, 2023 Tangible net worth $ 125,000 $ 172,216 $ 191,824 Total leverage <= 60 % 44.4 % 44.5 % Secured leverage < 30 % 2.4 % 4.1 % Unencumbered leverage < 60 % 45.9 % 44.2 % Fixed charge coverage > 1.50 x 3.2 x 3.1 x
Outstanding Mortgages, Excluding Net Debt Premium	As indicated on the following table, we have various mortgages, all of which are non-recourse to us and are not cross-collateralized, included on our consolidated balance sheet a s of December 31, 2024 and 2023 (amounts in thousands): As of 12/31/2024 As of 12/31/2023 Facility Name Interest Maturity Outstanding Outstanding Summerlin Hospital Medical Office Building III fixed 4.03 % April, 2024 $ - $ 12,301 Tuscan Professional Building fixed rate mortgage loan (c.) 5.56 % June, 2025 363 1,060 Phoenix Children’s East Valley Care Center fixed rate 3.95 % January, 2030 7,646 7,930 Rosenberg Children's Medical Plaza fixed rate mortgage loan 4.42 % September, 2033 11,503 11,771 Total, excluding net debt premium and net financing fees 19,512 33,062 Less net financing fees ( 163 ) ( 199 ) Total mortgage notes payable, non-recourse to us, net $ 19,349 $ 32,863 (a.) All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity. (b.) This fixed rate mortgage loan was fully repaid on April 10, 2024, utilizing borrowings under our Credit Agreement. (c.) This loan is scheduled to mature within the next twelve months, at which time we will either refinance pursuant to a new mortgage loan or repay the mortgage balance in full utilizing borrowings under our Credit Agreement.
Aggregate Consolidated Scheduled Debt Repayments	As of December 31, 2024, our aggregate consolidated scheduled debt repayments (including mortgages) are as follows (amounts in thousands): 2025 $ 939 2026 601 2027 626 2028 (a.) 349,553 2029 680 Later 16,013 Total $ 368,412 (a.) Includes assumed repayment of $ 348.9 million of outstanding borrowings under the terms of our $ 425 million revolving credit agreement scheduled to mature in September, 2028 .

Summarized Financial Informat_2

Summarized Financial Information of Equity Affiliates (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Limited Liability Companies Accounted for Under Equity Method	The following property table represents the four LLCs or LPs in which we own a non-controlling interest and were accounted for under the equity method as of December 31, 2024: Name of LLC/LP Ownership Property Owned by LLC/LP Suburban Properties 33 % St. Matthews Medical Plaza II Brunswick Associates (a.)(b.) 74 % Mid Coast Hospital MOB FTX MOB Phase II (c.) 95 % Forney Medical Plaza II Grayson Properties II (d.)(e.) 95 % Texoma Medical Plaza II (a.) This LLC has a third-party term loan of $ 8.2 million, which is non-recourse to us, outstanding as of December 31, 2024. (b.) We are the lessee with a third party on a ground lease for land. (c.) During the first quarter of 2023, the LP repaid $ 175,000 of the member loan and the remaining $ 3.3 million member loan balance was converted to an equity investment in the LP. (d.) This LP constructed, owns and operates the Texoma Medical Plaza II which is located in Denison, Texas, on the campus of a hospital owned and operated by a wholly-owned subsidiary of UHS. We have committed to invest up to $ 10.1 million in eq uity and debt financing, of which $ 7.4 million, net, has been funded as of December 31, 2024 . This LP entered into a third-party construction loan commitment, which is non-recourse to us, which has an outstanding balance of $ 6.9 million as of December 31, 2024. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners. The third-party partner's share of the pro rata equity contributions was partially funded with a six-month, $ 128,000 partner loan from us, which was repaid during July, 2024 with interest. Our share of the pro rata equity contributions, as well as the third-party partner loan, were funded utilizing borrowings from our revolving credit agreement. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated. (e.) We are the lessee with a UHS-related party for the land related to this property.
Combined Statements of Income for LLCs/LPs Accounted Under Equity Method	Below are the combined statements of income for the four LLCs/LPs accounted for under the equity method at December 31, 2024, 2023 and 2022. For the Year Ended December 31, 2024 2023 2022 (amounts in thousands) Revenues $ 8,707 $ 8,505 $ 8,204 Operating expenses 3,614 3,351 3,177 Depreciation and amortization 1,886 1,873 1,853 Interest, net 584 825 1,061 Net income $ 2,623 $ 2,456 $ 2,113 Our share of net income $ 1,279 $ 1,207 $ 1,191
Combined Balance Sheets for LLCs/LPs Accounted Under Equity Method	Below are the combined balance sheets for the four LLCs/LPs that were accounted for under the equity method as of December 31, 2024 and 2023: December 31, 2024 2023 (amounts in thousands) Net property, including construction in progress $ 27,119 $ 28,488 Other assets (a.) 4,678 4,667 Total assets $ 31,797 $ 33,155 Other liabilities (a.) $ 2,405 $ 2,074 Mortgage notes payable, non-recourse to us 15,047 21,206 Equity 14,345 9,875 Total liabilities and equity $ 31,797 $ 33,155 Investments in LLCs before amounts included in accrued expenses and other liabilities 13,948 9,102 Amounts included in accrued expenses and other liabilities ( 1,770 ) ( 1,729 ) Our share of equity in LLCs, net $ 12,178 $ 7,373 (a.) Other assets and other liabilities as of December 31, 2024 and 2023, include approximately $ 649,000 and $ 651,000 , respectively, of right-of-use land assets and right-of-use land liabilities related to ground leases whereby the LLC/LP is the lessee, with third parties, including subsidiaries of UHS.
Aggregate Principal Amounts due on Mortgage and Construction Notes Payable by Unconsolidated LLC's Accounted Under Equity Method	As of December 31, 2024, aggregate principal amounts due on mortgage notes payable by unconsolidated LLCs, which are accounted for under the equity method and are non-recourse to us, are as follows (amounts in thousands): 2025 $ 476 2026 6,976 2027 301 2028 310 2029 319 2030 and thereafter 6,665 Total $ 15,047 Mortgage Loan Balance (a.) Name of LLC/LP 12/31/2024 12/31/2023 Maturity Date Brunswick Associates (2.80% fixed rate mortgage loan) $ 8,173 $ 8,453 December, 2030 Grayson Properties II (3.70% fixed rate construction loan) (b.) 6,874 12,753 March, 2026 $ 15,047 $ 21,206 (a.) All mortgage loans require monthly principal payments through maturity and include a balloon principal payment upon maturity. (b.) This construction loan required interest on the outstanding principal balance to be paid on a monthly basis through December 1, 2022. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners, as discussed above. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summary of Reported Segment Revenue And Expenses	The following table presents information on our reported segment revenue and segment expenses that are included within our single reportable operating segment measure of profit or loss: Year ended December 31, 2024 2023 2022 Revenue: Revenues from facilities $ 93,292 $ 89,762 $ 84,816 Interest income on financing leases - UHS facilities 5,432 5,458 5,474 All other revenues 287 355 335 Total revenue $ 99,011 $ 95,575 $ 90,625 Expenses: Depreciation and amortization ( 27,421 ) ( 27,733 ) ( 26,557 ) Advisory fees to UHS ( 5,481 ) ( 5,323 ) ( 5,097 ) Other operating expenses (a.) ( 29,313 ) ( 31,170 ) ( 28,305 ) Equity in income of unconsolidated LLCs 1,279 1,207 1,191 Loss on divestiture of real estate assets - ( 232 ) - Interest expense, net ( 18,841 ) ( 16,924 ) ( 10,755 ) Consolidated net income $ 19,234 $ 15,400 $ 21,102 (a) Property operating expenses is primarily made up of property tax, utilities, maintenance, insurance, and other costs related to the leasing of our real estate properties. Our CODM is not provided with further disaggregation and uses total other operating expenses to manage the business.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 USD ($) Property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 26, 2025 Property State
Significant Accounting Policies [Line Items]
Net intangible assets	$ 7,325,000	$ 9,110,000
Intangible assets, accumulated amortization	$ 11,300,000	12,500,000
Intangible assets amortized over weighted average remaining lease term	55 years 3 months 18 days
Depreciation expense	$ 24,500,000	24,600,000	$ 23,300,000
Federal excise tax rate when amount of 85% of ordinary income plus 95% of any capital gain income exceeds cash distributions	4%
Gross cost basis of properties for federal income tax purposes (Unaudited)	$ 726,000,000	710,000,000
Net book value of the properties for federal income tax purposes (Unaudited)	$ 421,000,000	422,000,000
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	Chief Executive Officer and President [Member]
Aiken Regional Medical Center and Canyon Creek Behavioral Health
Significant Accounting Policies [Line Items]
Initial lease term on property	12 years
Fair market value of real estate assets received	$ 82,800,000	83,300,000
Minimum
Significant Accounting Policies [Line Items]
Percentage of annual REIT taxable income that should be distributed to remain exempt from federal income taxes	90%
Minimum | 4 Unconsolidated Limited Liability Companies / Limited Partner
Significant Accounting Policies [Line Items]
Non-controlling equity interest, ownership percentage	33%
Maximum | 4 Unconsolidated Limited Liability Companies / Limited Partner
Significant Accounting Policies [Line Items]
Non-controlling equity interest, ownership percentage	95%
Buildings | Minimum
Significant Accounting Policies [Line Items]
Estimated original useful lives of property plant and equipment	25 years
Buildings | Maximum
Significant Accounting Policies [Line Items]
Estimated original useful lives of property plant and equipment	45 years
Capital Improvements | Minimum
Significant Accounting Policies [Line Items]
Estimated original useful lives of property plant and equipment	3 years
Capital Improvements | Maximum
Significant Accounting Policies [Line Items]
Estimated original useful lives of property plant and equipment	35 years
In Place Leases
Significant Accounting Policies [Line Items]
Net intangible assets	$ 6,100,000
Intangible assets, accumulated amortization	$ 9,800,000
Intangible assets amortized over weighted average remaining lease term	4 years 7 months 6 days
Intangible assets, estimated aggregate amortization expenses for 2025	$ 1,500,000
Intangible assets, estimated aggregate amortization expenses for 2026	1,300,000
Intangible assets, estimated aggregate amortization expenses for 2027	1,000,000
Intangible assets, estimated aggregate amortization expenses for 2028	568,000
Intangible assets, estimated aggregate amortization expenses for 2029 and thereafter	1,800,000
Amortization expense, intangible assets	1,600,000	1,900,000	2,100,000
Above-Market Leases
Significant Accounting Policies [Line Items]
Net intangible assets	991,000
Intangible assets, accumulated amortization	$ 1,400,000
Intangible assets amortized over weighted average remaining lease term	4 years 7 months 6 days
Intangible assets, estimated aggregate amortization expenses for 2025	$ 215,000
Intangible assets, estimated aggregate amortization expenses for 2026	209,000
Intangible assets, estimated aggregate amortization expenses for 2027	197,000
Intangible assets, estimated aggregate amortization expenses for 2028	137,000
Intangible assets, estimated aggregate amortization expenses for 2029 and thereafter	233,000
Amortization expense, intangible assets	$ 215,000	$ 246,000	$ 247,000
McAllen Medical Center | Customer Concentration Risk | Revenues
Significant Accounting Policies [Line Items]
Percentage of rental revenue	9%	9%	9%
Medical office buildings | Limited Liability Companies
Significant Accounting Policies [Line Items]
Number of real estate investments | Property	4
Subsequent Event
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				76
Number of states that real estate investments are located | State				21
Subsequent Event | Hospitals
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				6
Subsequent Event | Hospitals | Acute Care
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				3
Subsequent Event | Hospitals | Behavioral health
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				3
Subsequent Event | Mission and Weslaco Freestanding Emergency Departments
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				4
Subsequent Event | Medical office buildings | Limited Liability Companies ("LLCs")/ Limited Liability Partnerships ("LPs")
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				4
Subsequent Event | Preschool and childcare Centers
Significant Accounting Policies [Line Items]
Number of real estate investments | Property				4

Relationship with UHS and Rel_3

Relationship with UHS and Related Party Transactions - Additional Information (Detail1)	12 Months Ended			72 Months Ended
	Dec. 31, 2024 Hospital Property	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024 Hospital
Universal Health Services, Inc
Related Party Transaction [Line Items]
Percentage of lease guaranteed	52%
Number of acute care hospital leased	3			3
Number of behavioral health care hospital leased	3			3
Number of medical office buildings and free standing emergency departments | Property	20
Universal Health Services, Inc | Revenues | Customer Concentration Risk
Related Party Transaction [Line Items]
Percentage of revenues generated from leases and tenants	24%	25%	26%
Universal Health Services, Inc | Revenues | Customer Concentration Risk | Tenants
Related Party Transaction [Line Items]
Percentage of revenues generated from leases and tenants	40%	41%	40%	38%
Catholic Health Initiatives Iowa
Related Party Transaction [Line Items]
Percentage of lease guaranteed	48%

Relationship with UHS and Rel_4

Relationship with UHS and Related Party Transactions - Additional Information (Detail 2) - Subsidiary - Universal Health Services, Inc - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Financing receivable		$ 82.8	$ 83.3
Asset Purchase and Sale Agreement
Related Party Transaction [Line Items]
Cash received for sale of real estate asset	$ 4.1

Relationship with UHS and Rel_5

Relationship with UHS and Related Party Transactions - Additional Information (Detail 3)	3 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) ft²	Mar. 31, 2023 USD ($) ft²	Dec. 31, 2024 USD ($) Bed Lease Hospital	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 ft²
Related Party Transaction [Line Items]
Number of bed facility | Bed			100
Aggregate lease payments for 2024			$ 704,000
Aggregate lease payments for 2025			704,000
Aggregate lease payments for 2026			704,000
Aggregate lease payments for 2027			704,000
Aggregate lease payments for 2028			704,000
Aggregate lease payments for thereafter			$ 35,322,000
Annual advisory fee as percentage of average invested real estate assets			0.70%	0.70%	0.70%
McAllen Medical Center
Related Party Transaction [Line Items]
Initial rent	$ 624,000
Rentable square feet | ft²	79,500
Payment to acquire business	$ 7,600,000
Percentage of lease guaranteed	100%
Aiken Regional Medical Center and Canyon Creek Behavioral Health
Related Party Transaction [Line Items]
Initial lease term on property			12 years
Monthly lease rent receivable			$ 5,900,000	$ 5,800,000	$ 5,700,000
Lease payments expected			$ 5,400,000	5,500,000	5,500,000
Universal Health Services, Inc
Related Party Transaction [Line Items]
Option to renew lease, notice period prior to termination date of current term			90 days
Number of ground leases | Lease			13
Aggregate lease payments for 2024				571,000
Aggregate lease payments for 2025				571,000
Aggregate lease payments for 2026				571,000
Aggregate lease payments for 2027				571,000
Aggregate lease payments for 2028				571,000
Aggregate lease payments for thereafter				$ 31,300,000
Percentage ownership of outstanding shares			5.70%	5.70%
Percentage of lease guaranteed			52%
Universal Health Services, Inc | Minimum
Related Party Transaction [Line Items]
Remaining lease terms on ground leases				25 years
Universal Health Services, Inc | Maximum
Related Party Transaction [Line Items]
Remaining lease terms on ground leases				74 years
Universal Health Services, Inc | Acute Care Hospitals
Related Party Transaction [Line Items]
Number of hospitals operating lease terms of existing and renewal options | Hospital			3
Universal Health Services, Inc | Clive, Iowa | Clive Behavioral Health
Related Party Transaction [Line Items]
Option to renew lease, notice period prior to termination date of current term			270 days
Period to purchase respective leased facilities prior to end of lease term or renewal terms			270 days
Universal Health Services, Inc | Master Flex Lease Agreement | Reno, Nevada | Sierra Medical Plaza I
Related Party Transaction [Line Items]
Initial lease term on property		10 years
Percentage of rentable square feet		34%
Universal Health Services, Inc | Ground Lease and Master Flex-lease Agreement | Reno, Nevada | Sierra Medical Plaza I
Related Party Transaction [Line Items]
Cost Of Medical Office Building Incurred			$ 30,000,000
Rentable square feet | ft²		86,000				86,000
Cost of medical office building		$ 35,000,000
Percentage of MOB leased		68%
Universal Health Services, Inc | Ground Lease Agreement | Reno, Nevada | Sierra Medical Plaza I
Related Party Transaction [Line Items]
Initial lease term on property		75 years
Universal Health Services of Delaware Inc
Related Party Transaction [Line Items]
Advisory fee			5,500,000	$ 5,300,000	5,100,000
Average invested real estate assets			$ 783,000,000	$ 757,000,000	$ 728,000,000

Relationship with UHS and Rel_6

Relationship with UHS and Related Party Transactions - Additional Information (Detail 4) - Universal Health Services, Inc $ in Millions	1 Months Ended	12 Months Ended			72 Months Ended
	Oct. 31, 2024 USD ($) Subsidiary Renewaloptions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Related Party Transaction [Line Items]
Number of subsidiaries exercised renewal option | Subsidiary	2
Weslaco and Mission, Texas
Related Party Transaction [Line Items]
Exercised renewal option term	5 years
Percentage of annual rental increase	2%
Aggregate annual lease | $	$ 1.1
Number of renewal options at fair market value lease rates | Renewaloptions	5
Renewal options term at fair market value lease rates	5 years
Weslaco and Mission, Texas | Maximum
Related Party Transaction [Line Items]
Lease expiration date	Jan. 31, 2030
Aggregate annual lease period	Jan. 31, 2026
Weslaco and Mission, Texas | Minimum
Related Party Transaction [Line Items]
Lease expiration date	Feb. 01, 2025
Aggregate annual lease period	Feb. 01, 2025
Weslaco and Mission, Texas | First Three Year Renewal Options
Related Party Transaction [Line Items]
Percentage of annual rental increase	2%
Weslaco and Mission, Texas | First Three Year Renewal Options | Maximum
Related Party Transaction [Line Items]
Renewal options at fair market value lease rates expiration year	2044
Weslaco and Mission, Texas | First Three Year Renewal Options | Minimum
Related Party Transaction [Line Items]
Renewal options at fair market value lease rates expiration year	2030
Weslaco and Mission, Texas | Last Two Year Renewal Options | Maximum
Related Party Transaction [Line Items]
Renewal options at fair market value lease rates expiration year	2054
Weslaco and Mission, Texas | Last Two Year Renewal Options | Minimum
Related Party Transaction [Line Items]
Renewal options at fair market value lease rates expiration year	2045
Revenues | Customer Concentration Risk
Related Party Transaction [Line Items]
Percentage of revenues generated from leases and tenants		24%	25%	26%
Tenants | Revenues | Customer Concentration Risk
Related Party Transaction [Line Items]
Percentage of revenues generated from leases and tenants		40%	41%	40%	38%

Existing Lease Terms and Renewa

Existing Lease Terms and Renewal Options for Each of UHS Hospital Facilities (Detail) - Universal Health Services, Inc	12 Months Ended
	Dec. 31, 2024 USD ($)
McAllen Medical Center
Operating Leased Assets [Line Items]
Annual Minimum Rent	$ 5,485,000	[1]
End of Lease Term	2026-12	[1]
Renewal Term (years)	5 years	[1]
Wellington Regional Medical Center
Operating Leased Assets [Line Items]
Annual Minimum Rent	$ 6,805,000	[2]
End of Lease Term	2026-12	[2]
Renewal Term (years)	5 years	[2]
Aiken Regional Medical Center/Aurora Pavilion Behavioral Health Services
Operating Leased Assets [Line Items]
Annual Minimum Rent	$ 4,164,000	[3]
End of Lease Term	2033-12	[3]
Renewal Term (years)	35 years	[3]
Canyon Creek Behavioral Health
Operating Leased Assets [Line Items]
Annual Minimum Rent	$ 1,882,000	[3]
End of Lease Term	2033-12	[3]
Renewal Term (years)	35 years	[3]
Clive Behavioral Health Hospital
Operating Leased Assets [Line Items]
Annual Minimum Rent	$ 2,851,000	[4]
End of Lease Term	2040-12	[4]
Renewal Term (years)	50 years	[4]
[1] UHS has one 5-year renewal option at existing lease rates (through 2031 ). UHS has one 5-year renewal option at fair market value lease rates (through 2031 ). The annual rental will increase by 2.5 % on an annual compounded basis on each January 1 st through 2026. UHS has seven 5-year renewal options at fair market value lease rates ( 2034 through 2068 ). The annual rental rate will increase by 2.25 % on a cumulative and compounded basis on each January 1 st through 2033. The UHS-related joint venture has five 10-year renewal options; the first three of the five 10-year renewal options will be at computed lease rates as stipulated in the lease ( 2041 through 2070 ) and the last two 10-year renewal options will be at fair market lease rates ( 2071 through 2090 ). On each January 1 st through 2040 (and potentially through 2070 if the first three of five, 10-year renewal options are exercised), the annual rental will increase by 2.75 % on a cumulative and compounded basis.

Existing Lease Terms and Rene_2

Existing Lease Terms and Renewal Options for Each of UHS Hospital Facilities (Parenthetical) (Detail) - Universal Health Services, Inc	12 Months Ended
	Dec. 31, 2024 Renewaloptions
McAllen Medical Center
Operating Leased Assets [Line Items]
Number of renewal option at existing lease rates	1
Renewal option term at existing lease rates	5 years
Renewal option at existing lease rates expiration year	2031
Wellington Regional Medical Center
Operating Leased Assets [Line Items]
Percentage of annual rental increase	2.50%
Number of renewal options at fair market value lease rates	1
Renewal options term at fair market value lease rates	5 years
Renewal options at fair market value lease rates expiration year	2031
Aiken Regional Medical Center and Canyon Creek Behavioral Health
Operating Leased Assets [Line Items]
Percentage of annual rental increase on cumulative and compound basis	2.25%
Number of renewal options at fair market value lease rates	7
Renewal options term at fair market value lease rates	5 years
Aiken Regional Medical Center and Canyon Creek Behavioral Health | Minimum
Operating Leased Assets [Line Items]
Renewal options at fair market value lease rates expiration year	2034
Aiken Regional Medical Center and Canyon Creek Behavioral Health | Maximum
Operating Leased Assets [Line Items]
Renewal options at fair market value lease rates expiration year	2068
Clive Behavioral Health Hospital
Operating Leased Assets [Line Items]
Number of renewal options at fair market value lease rates	5
Renewal options term at fair market value lease rates	10 years
Clive Behavioral Health Hospital | First Three Year Renewal Options
Operating Leased Assets [Line Items]
Percentage of annual rental increase on cumulative and compound basis	2.75%
Clive Behavioral Health Hospital | Minimum | First Three Year Renewal Options
Operating Leased Assets [Line Items]
Renewal options at lease rate stipulated in lease expiration year	2041
Clive Behavioral Health Hospital | Minimum | Last Two Year Renewal Options
Operating Leased Assets [Line Items]
Renewal options at fair market value lease rates expiration year	2071
Clive Behavioral Health Hospital | Maximum | First Three Year Renewal Options
Operating Leased Assets [Line Items]
Renewal options at lease rate stipulated in lease expiration year	2070
Clive Behavioral Health Hospital | Maximum | Last Two Year Renewal Options
Operating Leased Assets [Line Items]
Renewal options at fair market value lease rates expiration year	2090

Purchase and Sale Transaction_2

Purchase and Sale Transaction, Acquisitions, Divestitures and New Construction - Additional Information (Detail)			1 Months Ended		3 Months Ended		12 Months Ended
		Dec. 01, 2022	Mar. 31, 2022 USD ($) ft²	Jan. 31, 2022 USD ($) ft² Time Tenant	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) ft²	Dec. 31, 2024 Disposition Acquisition	Dec. 31, 2023 USD ($)	Dec. 31, 2022 Disposition	Mar. 31, 2023 ft²
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Number of acquisitions | Acquisition							0
Number of dispositions | Disposition							0		0
Frederick, Maryland | Third-Party Tenant
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Payment to acquire business				$ 8,000,000
Percentage of lease				100%
Number of tenants | Tenant				3
Percentage of rentable square feet				72%
Number of term renewal options | Time				3
Renewal Term (years)				5 years
Rentable square feet | ft²				20,146
Double net lease agreement period				15 years
Initial lease terms				14 years
McAllen, Texas | Universal Health Services, Inc
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Lease expiration date						Aug. 31, 2035
Sierra Medical Plaza I | Reno, Nevada | Ground Lease and Master Flex-lease Agreement | Universal Health Services, Inc
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Rentable square feet | ft²				86,000						86,000
Beaumont Heart And Vascular Center | Dearborn Michigan
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Payment to acquire business			$ 5,400,000
Percentage of lease			100%
Lease expiration date			Nov. 30, 2026
Percentage of lease escalations		2.5
Rentable square feet | ft²			17,621
McAllen Medical Center
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Payment to acquire business						$ 7,600,000
Rentable square feet | ft²						79,500
Initial rent						$ 624,000
McAllen Medical Center | Universal Health Services, Inc
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Renewal Term (years)	[1]						5 years
McAllen Medical Center | McAllen, Texas | Universal Health Services, Inc
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Payment to acquire business						$ 7,600,000
Percentage of lease						100%
Renewal Term (years)						10 years
Term of lease						12 years
Lease option to renew						true
Rentable square feet | ft²						79,500
Initial rent						$ 624,000
Specialty Facility In Corpus Christi Texas | Corpus Christi, Texas
Purchase And Sale Transaction Acquisitions Divestitures And New Construction [Line Items]
Net of closing costs								$ 3,900,000
Divestiture generated loss					$ 232,000			$ 232,000
[1] UHS has one 5-year renewal option at existing lease rates (through 2031 ).

Lease Accounting - Additional I

Lease Accounting - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) Land	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 Lease
Leases Disclosure [Line Items]
Lessee in connection with ground leases for land | Land		15
Right-of-use land assets	$ 10,946,000	$ 10,918,000	$ 10,946,000
Ground lease liabilities	10,946,000	10,918,000	10,946,000
Measurement of lease liabilities related to operating leases		692,000	666,000
Operating lease expense		692,000	666,000	$ 611,000
Specialty Facility In Corpus Christi Texas | Corpus Christi, Texas
Leases Disclosure [Line Items]
Net of closing costs			3,900,000
Divestiture generated loss	$ 232,000		232,000
Other operating expenses demolition costs			254,000	302,000
Specialty hospital located in Chicago, Illinois | Chicago, Illinois
Leases Disclosure [Line Items]
Lease settlement and release agreement amount				1,250,000
Lease Demolition Cost			1,500,000
Other operating expenses demolition costs			1,100,000	332,000
Operating expenses including demolition costs		319,000	1,700,000	1,600,000
Operating expenses including property tax		610,000
Operating expenses excluding demolition			529,000	1,300,000
Specialty Facility Evansville Indiana | Evansville, Indiana
Leases Disclosure [Line Items]
Operating expenses excluding depreciation and amortization expense		$ 345,000	$ 401,000	$ 360,000
Financing Arrangements
Leases Disclosure [Line Items]
Number of lease property | Lease					2

Lease Accounting - Components o

Lease Accounting - Components of the "Lease Revenue - UHS facilities" and "Lease Revenue - Non-related Parties" Captions (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Universal Health Services, Inc
Leases Disclosure [Line Items]
Lease revenue	[1]	$ 33,627	$ 32,623	$ 29,954
Universal Health Services, Inc | Base Rents
Leases Disclosure [Line Items]
Lease revenue		27,320	26,173	24,485
Universal Health Services, Inc | Bonus Rents
Leases Disclosure [Line Items]
Lease revenue	[2]	3,107	2,953	2,801
Universal Health Services, Inc | Tenant Reimbursements
Leases Disclosure [Line Items]
Lease revenue		3,200	3,497	2,668
Non-Related Parties
Leases Disclosure [Line Items]
Lease revenue		57,660	54,993	52,004
Non-Related Parties | Base Rents
Leases Disclosure [Line Items]
Lease revenue		44,332	42,159	40,533
Non-Related Parties | Tenant Reimbursements
Leases Disclosure [Line Items]
Lease revenue		$ 13,328	$ 12,834	$ 11,471
[1] Includes bonus rental on McAllen Medical Center, a UHS acute care hospital facility, o f $ 3,107 , $ 2,953 and $ 2,801 for the years ended December 31, 2024, 2023 and 2022, respectively . Consists of bonus rental earned in connection with McAllen Medical Center, a UHS acute care hospital facility.

Schedule of Minimum Future Base

Schedule of Minimum Future Base Rents from Non-Cancelable Leases (Topic 842) (Detail) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 77,073
2026	70,249
2027	50,146
2028	41,923
2029	34,946
Thereafter	125,921
Total minimum base rents	$ 400,258

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
Right-of-use land assets, net	$ 10,918	$ 10,946
Ground lease liabilities, net	$ 10,918	$ 10,946
Weighted Average remaining lease term, years
Operating leases	55 years 3 months 18 days
Weighted Average discount rate
Operating leases	6.29%

Schedule of Maturities of lease

Schedule of Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 704
2026	704
2027	704
2028	704
2029	704
Later years	35,322
Total undiscounted lease payments	38,842
Less imputed interest	27,924
Ground lease liabilities, net	$ 10,918	$ 10,946

Debt and Financial Instrument_2

Debt and Financial Instruments - Additional Information (Detail)				1 Months Ended				12 Months Ended
	Sep. 16, 2024 USD ($)	May 15, 2023 USD ($)	Mar. 27, 2018	Oct. 31, 2024 USD ($) Derivative	Sep. 30, 2024 USD ($) Option	Dec. 31, 2023 USD ($) Derivative	Mar. 31, 2020 USD ($) Derivative	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) Derivative	Dec. 31, 2022 USD ($)	Jul. 02, 2021 USD ($)
Debt Instrument [Line Items]
Net borrowings on the line of credit								$ 22,300,000	$ 28,500,000	$ 26,200,000
Credit facility, Interest Rate Terms								Borrowings under the Credit Agreement will bear interest at a rate equal to, at our option, the Adjusted Term SOFR for either one, three, or six months or the Base Rate, plus in either case, a specified margin depending on our total leverage ratio, as determined by the formula set forth in the Credit Agreement. The applicable margin after the second amendment ranges from 1.10% to 1.35% for SOFR revolving loans and 0.10% to 0.35% for Base Rate revolving loans. The applicable margin ranges from 1.20% to 1.65% for Adjusted Term SOFR loans and 0.20% to 0.65% for Base Rate term loans.
Outstanding borrowings under revolving credit agreement						$ 326,600,000		$ 348,900,000	326,600,000
Letters Of Credit Outstanding Amount						3,100,000		425,000,000	3,100,000
Available borrowing capacity						$ 45,300,000		76,100,000	45,300,000
Compensating Balance Amount								0
Line of credit, fair value of borrowings outstanding								348,900,000
Average amounts outstanding under our revolving credit agreement								$ 336,900,000	$ 309,300,000	$ 277,900,000
Effective interest rate						4.80%		5.10%	4.80%	2.90%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative interest rate cap, payment received or accrued from counterparties								$ 5,700,000	$ 5,800,000
Interest Rate Swap | Cash Flow Hedge
Debt Instrument [Line Items]
Number of interest rate cap agreements | Derivative				1
Derivative instruments, fixed rate				3.2725%
Notional amount	$ 85,000,000			$ 85,000,000
Expiration date of interest rate	Sep. 16, 2024			Sep. 30, 2028
Interest Rate Swap Agreement One
Debt Instrument [Line Items]
Derivative interest rate cap, payment received or accrued from counterparties								2,500,000	$ 3,300,000
Interest Rate Swap Agreement One | Cash Flow Hedge
Debt Instrument [Line Items]
Number of interest rate cap agreements | Derivative						1			1
Derivative instruments, fixed rate						3.9495%			3.9495%
Notional amount	$ 35,000,000					$ 25,000			$ 25,000
Expiration date of interest rate						Dec. 01, 2027
Interest Rate Swap Agreement Two
Debt Instrument [Line Items]
Derivative interest rate cap, payment received or accrued from counterparties								2,500,000	3,300,000
Interest Rate Swap Agreement Two | Cash Flow Hedge
Debt Instrument [Line Items]
Number of interest rate cap agreements | Derivative							1
Derivative instruments, fixed rate							0.505%
Notional amount	$ 50,000,000						$ 55,000,000
Expiration date of interest rate							Mar. 25, 2027
Level 2
Debt Instrument [Line Items]
Mortgage debt						$ 33,100,000		19,500,000	33,100,000
Mortgage loan fair value						$ 31,200,000		17,700,000	$ 31,200,000
Level 2 | Interest Rate Swap
Debt Instrument [Line Items]
Liability derivatives, fair value								$ 6,400,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate		0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Swap | Cash Flow Hedge
Debt Instrument [Line Items]
Derivative instruments, fixed rate				3.2725%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Swap Agreement One | Cash Flow Hedge
Debt Instrument [Line Items]
Derivative instruments, fixed rate	1.4975%					3.9495%			3.9495%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Swap Agreement Two | Cash Flow Hedge
Debt Instrument [Line Items]
Derivative instruments, fixed rate	1.144%	0.505%
Non-Amortizing Term Loan ("Term Loan") | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate								1.35%
Credit Agreement
Debt Instrument [Line Items]
Aggregate borrowings under Credit Agreement								$ 78,300,000	$ 78,400,000	$ 67,000,000
Aggregate repayments								$ 56,000,000	$ 49,900,000	$ 40,800,000
Revolving A Facility
Debt Instrument [Line Items]
Facility fee of revolving loan		$ 300,000,000
Revolving A Facility | Minimum
Debt Instrument [Line Items]
Facility fee payable on commitment			0.15%
Revolving A Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			0.20%
Revolving A Facility | Minimum | Federal Funds Effective Rate
Debt Instrument [Line Items]
Margin points added to the base rate			0.50%
Revolving A Facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			1.20%
Margin points added to the base rate			1%
Revolving A Facility | Maximum
Debt Instrument [Line Items]
Facility fee payable on commitment			0.35%
Revolving A Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			0.65%
Revolving A Facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			1.65%
Revolving B Facility | Base Rate
Debt Instrument [Line Items]
Margin points added to the reference rate								0.20%
Margin points added to the base rate								0.35%
Revolving B Facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Facility fee payable on commitment								0.20%
Revolving B Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate								1.20%
Second Amendment and Restated Revloving Credit Agreement
Debt Instrument [Line Items]
Outstanding borrowing					$ 425,000,000						$ 375,000,000
Net borrowings on the line of credit					$ 50,000,000
Unsecured revolving amended credit agreement terminated date			Jul. 31, 2025		Sep. 30, 2028
Number of additional six month extension options | Option					2
Second Amendment and Restated Revloving Credit Agreement | Minimum | Base Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			0.10%
Second Amendment and Restated Revloving Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			1.10%
Second Amendment and Restated Revloving Credit Agreement | Maximum | Base Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			0.35%
Second Amendment and Restated Revloving Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin points added to the reference rate			1.35%
Second Amendment and Restated Revloving Credit Agreement | Swingline/Short-Term Loans
Debt Instrument [Line Items]
Outstanding borrowing					$ 30,000,000
Second Amendment and Restated Revloving Credit Agreement | Non-Amortizing Term Loan ("Term Loan")
Debt Instrument [Line Items]
Outstanding borrowing					125,000,000
Second Amendment and Restated Revloving Credit Agreement | Revolving Loan Commitment
Debt Instrument [Line Items]
Outstanding borrowing					300,000,000
Second Amendment and Restated Revloving Credit Agreement | Letters of Credit
Debt Instrument [Line Items]
Outstanding borrowing					$ 40,000,000

Summary of Required Compliance

Summary of Required Compliance Ratios in Connection with Terms of Credit Agreements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Covenant, Tangible net worth	$ 125,000
Tangible net worth	$ 172,216	$ 191,824
Total leverage	44.40%	44.50%
Secured leverage	2.40%	4.10%
Unencumbered leverage	45.90%	44.20%
Fixed charge coverage	3.20%	3.10%
Maximum
Debt Instrument [Line Items]
Covenant, Total leverage	60%
Covenant, Secured leverage	30%
Covenant, Unencumbered leverage	60%
Minimum
Debt Instrument [Line Items]
Covenant, Fixed charge coverage	1.50%

Summary of Outstanding Mortgage

Summary of Outstanding Mortgages, Excluding Net Debt Premium (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023
Debt Instrument [Line Items]
Total mortgage notes payable, non-recourse to us, net		$ 19,349		$ 32,863
Nonrecourse
Debt Instrument [Line Items]
Outstanding Balance		19,512	[1]	33,062
Less net financing fees		(163)	[1]	(199)
Total mortgage notes payable, non-recourse to us, net		$ 19,349	[1]	32,863
Summerlin Hospital Medical Office Building III Fixed Rate Mortgage Loan | Nonrecourse
Debt Instrument [Line Items]
Interest Rate	[2]	4.03%
Maturity Date	[2]	2024-04
Outstanding Balance	[2]	$ 0	[1]	12,301
Tuscan Professional Building Fixed Rate Mortgage Loan | Nonrecourse
Debt Instrument [Line Items]
Interest Rate	[3]	5.56%
Maturity Date	[3]	2025-06
Outstanding Balance	[3]	$ 363	[1]	1,060
Phoenix Children East Valley Care Center Fixed Rate Mortgage Loan | Nonrecourse
Debt Instrument [Line Items]
Interest Rate		3.95%
Maturity Date		2030-01
Outstanding Balance		$ 7,646	[1]	7,930
Rosenberg Children's Medical Plaza Fixed Rate Mortgage Loan | Nonrecourse
Debt Instrument [Line Items]
Interest Rate		4.42%
Maturity Date		2033-09
Outstanding Balance		$ 11,503	[1]	$ 11,771
[1] All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity. This fixed rate mortgage loan was fully repaid on April 10, 2024, utilizing borrowings under our Credit Agreement. This loan is scheduled to mature within the next twelve months, at which time we will either refinance pursuant to a new mortgage loan or repay the mortgage balance in full utilizing borrowings under our Credit Agreement.

Aggregate Consolidated Schedule

Aggregate Consolidated Scheduled Debt Repayment (Detail) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 939
2026	601
2027	626
2028	349,553	[1]
2029	680
Later	16,013
Total	$ 368,412
[1] Includes assumed repayment of $ 348.9 million of outstanding borrowings under the terms of our $ 425 million revolving credit agreement scheduled to mature in September, 2028 .

Aggregate Consolidated Schedu_2

Aggregate Consolidated Scheduled Debt Repayment (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Equity Method Investments [Line Items]
Line of credit borrowings	$ 348,900,000	$ 326,600,000
New Revolving Credit Facility Agreement
Schedule Of Equity Method Investments [Line Items]
Outstanding borrowing	$ 425,000,000
Maturity date	Sep. 30, 2028

Dividends and Equity Issuance_2

Dividends and Equity Issuance Program - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Declared and paid dividends, per share	$ 2.92	$ 2.88	$ 2.84
Ordinary income per share	1.98	1.73	2.24
Capital gain per share	$ 0.94	$ 1.15	$ 0.6

Incentive Plans - Additional In

Incentive Plans - Additional Information (Detail) - Incentive Plan 2007 - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Incentive Plan [Line Items]
Number of shares authorized for issuance	275,000
Shares issued, net of cancellation	182,638
Number of shares vested	142,269
Number of shares remaining for issuance	92,362
Restricted shares issued, net of cancellation	23,265	17,104	15,064
Restricted shares issued, weighted average grant price	$ 38.24	$ 48.48	$ 52.3
Restricted shares of beneficial interest, net of cancellations, issued, value	$ 890,000	$ 829,000	$ 788,000
Restricted shares, Vesting Period			2024-06
Compensation expense	853,000	$ 780,000	$ 780,000
Compensation expense remained to be recognized in future	$ 20,000
Compensation expense not yet recognized, period of recognition	1 year 2 months 12 days
Tranche One
Equity Incentive Plan [Line Items]
Restricted shares, Vesting Period	2026-06	2025-06

Summarized Financial Informat_3

Summarized Financial Information of Equity Affiliates - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 Property
Limited Liability Companies | Medical office buildings
Schedule Of Equity Method Investments [Line Items]
Number of real estate investments	4
Minimum
Schedule Of Equity Method Investments [Line Items]
Number of days for Non-Offering Member either to purchase or sell its entire ownership interest to or from Offering Member	60 days
Maximum
Schedule Of Equity Method Investments [Line Items]
Number of days for Non-Offering Member either to purchase or sell its entire ownership interest to or from Offering Member	90 days
4 Unconsolidated Limited Liability Companies / Limited Partner | Minimum
Schedule Of Equity Method Investments [Line Items]
Non-controlling equity interest, ownership percentage	33%
4 Unconsolidated Limited Liability Companies / Limited Partner | Maximum
Schedule Of Equity Method Investments [Line Items]
Non-controlling equity interest, ownership percentage	95%

Limited Liability Companies Acc

Limited Liability Companies Accounted for Under Equity Method (Detail)	12 Months Ended
	Dec. 31, 2024
Suburban Properties
Schedule Of Equity Method Investments [Line Items]
Ownership	33%
Property Owned by LLC/LP	St. Matthews Medical Plaza II
Brunswick Associates
Schedule Of Equity Method Investments [Line Items]
Ownership	74%	[1],[2]
Property Owned by LLC/LP	Mid Coast Hospital MOB	[1],[2]
FTX MOB Phase II limited partnership
Schedule Of Equity Method Investments [Line Items]
Ownership	95%	[3]
Property Owned by LLC/LP	Forney Medical Plaza II	[3]
Grayson Properties Two L P
Schedule Of Equity Method Investments [Line Items]
Ownership	95%	[4],[5]
Property Owned by LLC/LP	Texoma Medical Plaza II	[4],[5]
[1] This LLC has a third-party term loan of $ 8.2 million, which is non-recourse to us, outstanding as of December 31, 2024. We are the lessee with a third party on a ground lease for land. During the first quarter of 2023, the LP repaid $ 175,000 of the member loan and the remaining $ 3.3 million member loan balance was converted to an equity investment in the LP. This LP constructed, owns and operates the Texoma Medical Plaza II which is located in Denison, Texas, on the campus of a hospital owned and operated by a wholly-owned subsidiary of UHS. We have committed to invest up to $ 10.1 million in eq uity and debt financing, of which $ 7.4 million, net, has been funded as of December 31, 2024 . This LP entered into a third-party construction loan commitment, which is non-recourse to us, which has an outstanding balance of $ 6.9 million as of December 31, 2024. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners. The third-party partner's share of the pro rata equity contributions was partially funded with a six-month, $ 128,000 partner loan from us, which was repaid during July, 2024 with interest. Our share of the pro rata equity contributions, as well as the third-party partner loan, were funded utilizing borrowings from our revolving credit agreement. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated. We are the lessee with a UHS-related party for the land related to this property.

Limited Liability Companies A_2

Limited Liability Companies Accounted for Under Equity Method (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2024	Mar. 31, 2024
Brunswick Associates
Schedule Of Equity Method Investments [Line Items]
Third-party term loan		$ 8,200,000
FTX MOB Phase II limited partnership
Schedule Of Equity Method Investments [Line Items]
Repayment of loan	$ 175,000
Conversion of Loan to Equity Method Investment	$ 3,300,000
Grayson Properties II LP
Schedule Of Equity Method Investments [Line Items]
Member loan used to repay mortgage loan		128,000
Letters of Credit Terminated Amount		3,100,000
Construction loan			$ 5,700,000
Construction loan outstanding balance		6,900,000
Grayson Properties II LP | Denison Texas
Schedule Of Equity Method Investments [Line Items]
Commitment to investment		7,400,000
Grayson Properties II LP | Maximum | Denison Texas
Schedule Of Equity Method Investments [Line Items]
Commitment to investment		$ 10,100,000

Combined Statements of Income f

Combined Statements of Income for LLCs/LPs Accounted Under Equity Method (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Revenues	$ 99,011	$ 95,575	$ 90,625
Net income	19,234	15,400	21,102
Our share of net income	1,279	1,207	1,191
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule Of Equity Method Investments [Line Items]
Our share of net income	1,279	1,207	1,191
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule Of Equity Method Investments [Line Items]
Revenues	8,707	8,505	8,204
Operating expenses	3,614	3,351	3,177
Depreciation and amortization	1,886	1,873	1,853
Interest, net	584	825	1,061
Net income	$ 2,623	$ 2,456	$ 2,113

Combined Balance Sheets for LLC

Combined Balance Sheets for LLCs/LPs Accounted Under Equity Method (Detail) - USD ($) $ in Thousands		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Total Assets		$ 580,862	$ 596,369
Equity		179,541	200,934	$ 229,101	$ 235,327
Total Liabilities and Equity		580,862	596,369
Investments in LLCs before amounts included in accrued expenses and other liabilities		13,948	9,102
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule Of Equity Method Investments [Line Items]
Our share of equity in LLCs, net		12,178	7,373
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule Of Equity Method Investments [Line Items]
Net property, including construction in progress		27,119	28,488
Other assets	[1]	4,678	4,667
Total Assets		31,797	33,155
Other liabilities	[1]	2,405	2,074
Mortgage notes payable, non-recourse to us		15,047	21,206
Equity		14,345	9,875
Total Liabilities and Equity		31,797	33,155
Investments in LLCs before amounts included in accrued expenses and other liabilities		13,948	9,102
Amounts included in accrued expenses and other liabilities		$ (1,770)	$ (1,729)
[1] Other assets and other liabilities as of December 31, 2024 and 2023, include approximately $ 649,000 and $ 651,000 , respectively, of right-of-use land assets and right-of-use land liabilities related to ground leases whereby the LLC/LP is the lessee, with third parties, including subsidiaries of UHS.

Combined Balance Sheets for L_2

Combined Balance Sheets for LLCs/LPs Accounted Under Equity Method (Parenthetical) (Detail) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Equity Method Investments [Line Items]
Right-of-use land assets	$ 10,918,000	$ 10,946,000
Right-of-use land liabilities	10,918,000	10,946,000
Limited Liability Companies
Schedule Of Equity Method Investments [Line Items]
Right-of-use land assets	649,000	651,000
Right-of-use land liabilities	$ 649,000	$ 651,000

Aggregate Principal Amounts Due

Aggregate Principal Amounts Due on Mortgage Notes Payable by Unconsolidated LLCs, Accounted Under Equity Method (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Schedule Of Equity Method Investments [Line Items]
2025		$ 939
2026		601
2027		626
2028	[1]	349,553
2029		680
2030 and thereafter		16,013
Total		368,412
Equity Method Investments
Schedule Of Equity Method Investments [Line Items]
2025		476
2026		6,976
2027		301
2028		310
2029		319
2030 and thereafter		6,665
Total		15,047
Mortgage Loan Balance	[2]	15,047	$ 21,206
Equity Method Investments | Brunswick Associates
Schedule Of Equity Method Investments [Line Items]
Mortgage Loan Balance	[2]	$ 8,173	8,453
Maturity Date	[2]	2030-12
Equity Method Investments | Grayson Properties II LP
Schedule Of Equity Method Investments [Line Items]
Mortgage Loan Balance	[2],[3]	$ 6,874	$ 12,753
Maturity Date	[2],[3]	2026-03
[1] Includes assumed repayment of $ 348.9 million of outstanding borrowings under the terms of our $ 425 million revolving credit agreement scheduled to mature in September, 2028 . All mortgage loans require monthly principal payments through maturity and include a balloon principal payment upon maturity. This construction loan required interest on the outstanding principal balance to be paid on a monthly basis through December 1, 2022. During the first quarter of 2024, $ 5.7 million of the third-party construction loan was repa id utilizing pro rata equity contributions from the partners, as discussed above. As a result of the repayment of a portion of the construction loan, an associated $ 3.1 million letter of credit was terminated.

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	1
Segment Reporting, Expense Information Used by CODM, Description	An operating segment is a component of a public entity that engages in business activities from which it may earn revenues and incur expenses and has discrete financial information available that is regularly reviewed by the chief operating decision maker (the “CODM”). Our primary business is investing in and leasing healthcare and human service facilities through direct ownership or through joint ventures, which aggregate into a single reportable segment. We actively manage our portfolio of healthcare and human service facilities and may from time to time make decisions to sell lower performing properties not meeting our long-term investment objectives. The proceeds of sales are typically reinvested in new developments or acquisitions, which we believe will meet our planned rate of return. It is our intent that all healthcare and human service facilities will be owned or developed for investment purposes. Our consolidated revenue and consolidated net income are generated from the operation of our investment portfolio. Our CODM is the Chairman of the Board, Chief Executive Officer and President.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	Chief Executive Officer and President [Member]

Segment Reporting - Summary of

Segment Reporting - Summary of Reported Segment Revenue And Expenses (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues [Abstract]
All other revenues	[1],[2]	$ 86,177
Revenues, Total		99,011	$ 95,575	$ 90,625
Costs and Expenses [Abstract]
Depreciation and amortization		(27,421)	(27,733)	(26,557)
Equity in income of unconsolidated LLCs		1,279	1,207	1,191
Loss on divestiture of real estate assets			(232)
Net income		19,234	15,400	21,102
Operating Segments
Revenues [Abstract]
Revenues from facilities		93,292	89,762	84,816
Interest income on financing leases - UHS facilities		5,432	5,458	5,474
All other revenues		287	355	335
Revenues, Total		99,011	95,575	90,625
Costs and Expenses [Abstract]
Depreciation and amortization		(27,421)	(27,733)	(26,557)
Advisory fees to UHS		(5,481)	(5,323)	(5,097)
Other operating expenses	[3]	(29,313)	(31,170)	(28,305)
Equity in income of unconsolidated LLCs		1,279	1,207	1,191
Loss on divestiture of real estate assets			(232)
Interest expense		(18,841)	(16,924)	(10,755)
Net income		$ 19,234	$ 15,400	$ 21,102
[1] Consists of costs capitalized subsequent to acquisition or initial construction, purchase price adjustments, and write-off of costs of fully depreciated assets, divested assets, asset impairments and hurricane-damaged assets. The aggregate cost for federal income tax purposes is $ 726 million (unaudited) with a net book value of $ 421 million (unaudited). Property operating expenses is primarily made up of property tax, utilities, maintenance, insurance, and other costs related to the leasing of our real estate properties. Our CODM is not provided with further disaggregation and uses total other operating expenses to manage the business.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[2]	$ 19,512
Initial Cost, Land	[2]	54,030
Initial Cost, Building & Improvements	[2]	564,964
Adjustments to Basis	[2],[3]	86,177
Land	[2]	56,870
Buildings and Improvements	[2]	648,301
CIP	[2]	7,695
Total		712,866	[2]	$ 706,244	$ 697,969	$ 663,733
Accumulated Depreciation		286,932	[2]	$ 262,449
McAllen Medical Center McAllen, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	0
Initial Cost, Land		4,720
Initial Cost, Building & Improvements		31,442
Adjustments to Basis	[3]	10,189
Land		6,281
Buildings and Improvements		40,070
CIP		0
Total		46,351
Accumulated Depreciation		$ 33,837
Date of Completion of Construction, Acquisition or Significant Improvement		1994
Date Acquired		1986
Average Depreciable Life		42 years
Wellington Regional Medical Center West Palm Beach, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,190
Initial Cost, Building & Improvements		14,652
Adjustments to Basis	[3]	17,370
Land		1,663
Buildings and Improvements		31,549
CIP		0
Total		33,212
Accumulated Depreciation		$ 25,156
Date of Completion of Construction, Acquisition or Significant Improvement		2006
Date Acquired		1986
Average Depreciable Life		42 years
Evansville Facility Evansville Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		500
Initial Cost, Building & Improvements		6,945
Adjustments to Basis	[3]	1,062
Land		500
Buildings and Improvements		8,007
CIP		0
Total		8,507
Accumulated Depreciation		$ 7,100
Date of Completion of Construction, Acquisition or Significant Improvement		1993
Date Acquired		1989
Average Depreciable Life		40 years
4058 W. Melrose Facility Central Chicago Illinois
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		158
Initial Cost, Building & Improvements		6,404
Adjustments to Basis	[3]	(6,404)
Land		158
Buildings and Improvements		0
CIP		0
Total		158
Accumulated Depreciation		$ 0
Date of Completion of Construction, Acquisition or Significant Improvement		1993
Date Acquired		1986
Average Depreciable Life		25 years
Family Doctor Medical Office Building Shreveport Louisiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		54
Initial Cost, Building & Improvements		1,526
Adjustments to Basis	[3]	549
Land		54
Buildings and Improvements		2,075
CIP		0
Total		2,129
Accumulated Depreciation		$ 1,410
Date of Completion of Construction, Acquisition or Significant Improvement		1991
Date Acquired		1995
Average Depreciable Life		45 years
Professional Buildings at Kings Crossing Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[4]	$ 0
Initial Cost, Land	[4]	439
Initial Cost, Building & Improvements	[4]	1,837
Adjustments to Basis	[3],[4]	(287)
Land	[4]	439
Buildings and Improvements	[4]	1,550
CIP	[4]	0
Total	[4]	1,989
Accumulated Depreciation	[4]	$ 816
Date of Completion of Construction, Acquisition or Significant Improvement	[4]	1995
Date Acquired	[4]	1995
Average Depreciable Life	[4]	45 years
Chesterbrook Academy Audubon, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		307
Initial Cost, Building & Improvements		996
Adjustments to Basis	[3]	0
Land		307
Buildings and Improvements		996
CIP		0
Total		1,303
Accumulated Depreciation		$ 631
Date of Completion of Construction, Acquisition or Significant Improvement		1996
Date Acquired		1996
Average Depreciable Life		45 years
Chesterbrook Academy New Britain, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		250
Initial Cost, Building & Improvements		744
Adjustments to Basis	[3]	0
Land		250
Buildings and Improvements		744
CIP		0
Total		994
Accumulated Depreciation		$ 480
Date of Completion of Construction, Acquisition or Significant Improvement		1991
Date Acquired		1996
Average Depreciable Life		45 years
Chesterbrook Academy Uwchlan, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		180
Initial Cost, Building & Improvements		815
Adjustments to Basis	[3]	0
Land		180
Buildings and Improvements		815
CIP		0
Total		995
Accumulated Depreciation		$ 513
Date of Completion of Construction, Acquisition or Significant Improvement		1992
Date Acquired		1996
Average Depreciable Life		45 years
Chesterbrook Academy Newtown, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		195
Initial Cost, Building & Improvements		749
Adjustments to Basis	[3]	0
Land		195
Buildings and Improvements		749
CIP		0
Total		944
Accumulated Depreciation		$ 481
Date of Completion of Construction, Acquisition or Significant Improvement		1992
Date Acquired		1996
Average Depreciable Life		45 years
The Southern Crescent Center I
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[5]	$ 0
Initial Cost, Land	[5]	1,130
Initial Cost, Building & Improvements	[5]	5,092
Adjustments to Basis	[3],[5]	(1,881)
Land	[5]	1,130
Buildings and Improvements	[5]	3,211
CIP	[5]	0
Total	[5]	4,341
Accumulated Depreciation	[5]	$ 2,906
Date of Completion of Construction, Acquisition or Significant Improvement	[5]	1994
Date Acquired	[5]	1996
Average Depreciable Life	[5]	45 years
Southern Crescent Center I I Riverdale Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[5]	$ 0
Initial Cost, Land	[5]	0
Initial Cost, Building & Improvements	[5]	0
Adjustments to Basis	[3],[5]	5,389
Land	[5]	806
Buildings and Improvements	[5]	4,583
CIP	[5]	0
Total	[5]	5,389
Accumulated Depreciation	[5]	$ 3,779
Date of Completion of Construction, Acquisition or Significant Improvement	[5]	2000
Date Acquired	[5]	1998
Average Depreciable Life	[5]	35 years
Cypresswood Professional Center Spring,Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[6]	$ 0
Initial Cost, Land	[6]	573
Initial Cost, Building & Improvements	[6]	3,842
Adjustments to Basis	[3],[6]	(1,599)
Land	[6]	573
Buildings and Improvements	[6]	2,243
CIP	[6]	0
Total	[6]	2,816
Accumulated Depreciation	[6]	$ 893
Date of Completion of Construction, Acquisition or Significant Improvement	[6]	1997
Date Acquired	[6]	1997
Average Depreciable Life	[6]	35 years
701 South Tonopah Building Las Vegas, Nevada
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	1,579
Adjustments to Basis	[3],[7]	68
Land	[7]	0
Buildings and Improvements	[7]	1,647
CIP	[7]	0
Total	[7]	1,647
Accumulated Depreciation	[7]	$ 1,647
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	1999
Date Acquired	[7]	1999
Average Depreciable Life	[7]	25 years
Danbury Medical Plaza Danbury, Connecticut
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,151
Initial Cost, Building & Improvements		5,176
Adjustments to Basis	[3]	1,576
Land		1,151
Buildings and Improvements		6,752
CIP		0
Total		7,903
Accumulated Depreciation		$ 5,230
Date of Completion of Construction, Acquisition or Significant Improvement		2000
Date Acquired		2000
Average Depreciable Life		30 years
Apache Junction Medical Plaza Apache Junction, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		240
Initial Cost, Building & Improvements		3,590
Adjustments to Basis	[3]	1,414
Land		240
Buildings and Improvements		5,004
CIP		5
Total		5,249
Accumulated Depreciation		$ 3,044
Date of Completion of Construction, Acquisition or Significant Improvement		2004
Date Acquired		2004
Average Depreciable Life		30 years
BRB Medical Office Building Kingwood, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		430
Initial Cost, Building & Improvements		8,970
Adjustments to Basis	[3]	1,960
Land		430
Buildings and Improvements		10,930
CIP		0
Total		11,360
Accumulated Depreciation		$ 4,222
Date of Completion of Construction, Acquisition or Significant Improvement		2010
Date Acquired		2010
Average Depreciable Life		37 years
Centennial Hills Medical Office Building Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	19,890
Adjustments to Basis	[3],[7]	4,000
Land	[7]	0
Buildings and Improvements	[7]	23,890
CIP	[7]	374
Total	[7]	24,264
Accumulated Depreciation	[7]	$ 10,987
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2006
Date Acquired	[7]	2006
Average Depreciable Life	[7]	34 years
Desert Springs Medical Plaza Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,200
Initial Cost, Building & Improvements		9,560
Adjustments to Basis	[3]	2,912
Land		1,200
Buildings and Improvements		12,472
CIP		17
Total		13,689
Accumulated Depreciation		$ 6,673
Date of Completion of Construction, Acquisition or Significant Improvement		1998
Date Acquired		1998
Average Depreciable Life		30 years
700 Shadow Lane & Goldring MOBs Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		400
Initial Cost, Building & Improvements		11,300
Adjustments to Basis	[3]	5,883
Land		400
Buildings and Improvements		17,183
CIP		930
Total		18,513
Accumulated Depreciation		$ 9,321
Date of Completion of Construction, Acquisition or Significant Improvement		2003
Date Acquired		2003
Average Depreciable Life		30 years
Spring Valley Hospital MOB II Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	9,800
Adjustments to Basis	[3],[7]	2,162
Land	[7]	0
Buildings and Improvements	[7]	11,962
CIP	[7]	338
Total	[7]	12,300
Accumulated Depreciation	[7]	$ 5,479
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2006
Date Acquired	[7]	2006
Average Depreciable Life	[7]	34 years
Spring Valley Hospital MOB I Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	9,500
Adjustments to Basis	[3],[7]	2,441
Land	[7]	0
Buildings and Improvements	[7]	11,941
CIP	[7]	369
Total	[7]	12,310
Accumulated Depreciation	[7]	$ 5,602
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2004
Date Acquired	[7]	2004
Average Depreciable Life	[7]	35 years
Summerlin Hospital MOB I Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		460
Initial Cost, Building & Improvements		15,440
Adjustments to Basis	[3]	2,226
Land		460
Buildings and Improvements		17,666
CIP		1,409
Total		19,535
Accumulated Depreciation		$ 9,138
Date of Completion of Construction, Acquisition or Significant Improvement		1999
Date Acquired		1999
Average Depreciable Life		30 years
Summerlin Hospital MOB II Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		370
Initial Cost, Building & Improvements		16,830
Adjustments to Basis	[3]	3,022
Land		370
Buildings and Improvements		19,852
CIP		783
Total		21,005
Accumulated Depreciation		$ 9,595
Date of Completion of Construction, Acquisition or Significant Improvement		2000
Date Acquired		2000
Average Depreciable Life		30 years
Summerlin Hospital MOB III Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	14,900
Adjustments to Basis	[3],[7]	3,500
Land	[7]	0
Buildings and Improvements	[7]	18,400
CIP	[7]	39
Total	[7]	18,439
Accumulated Depreciation	[7]	$ 7,363
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2009
Date Acquired	[7]	2009
Average Depreciable Life	[7]	36 years
Emory at Dunwoody Building Dunwoody, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		782
Initial Cost, Building & Improvements		3,455
Adjustments to Basis	[3]	0
Land		782
Buildings and Improvements		3,455
Total		4,237
Accumulated Depreciation		$ 1,635
Date of Completion of Construction, Acquisition or Significant Improvement		2011
Date Acquired		2011
Average Depreciable Life		35 years
Forney Medical Plaza Forney, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		910
Initial Cost, Building & Improvements		11,960
Adjustments to Basis	[3]	1,157
Land		910
Buildings and Improvements		13,117
CIP		6
Total		14,033
Accumulated Depreciation		$ 5,845
Date of Completion of Construction, Acquisition or Significant Improvement		2011
Date Acquired		2011
Average Depreciable Life		35 years
Lake Pointe Medical Arts Building Rowlett, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,100
Initial Cost, Building & Improvements		9,000
Adjustments to Basis	[3]	1,132
Land		1,100
Buildings and Improvements		10,132
Total		11,232
Accumulated Depreciation		$ 4,294
Date of Completion of Construction, Acquisition or Significant Improvement		2011
Date Acquired		2011
Average Depreciable Life		35 years
Tuscan Professional Building Irving, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 363
Initial Cost, Land		1,100
Initial Cost, Building & Improvements		12,525
Adjustments to Basis	[3]	3,703
Land		1,100
Buildings and Improvements		16,228
CIP		0
Total		17,328
Accumulated Depreciation		$ 7,127
Date of Completion of Construction, Acquisition or Significant Improvement		2011
Date Acquired		2011
Average Depreciable Life		35 years
PeaceHealth Medical Clinic Bellingham, WA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,900
Initial Cost, Building & Improvements		24,910
Adjustments to Basis	[3]	921
Land		1,900
Buildings and Improvements		25,831
CIP		0
Total		27,731
Accumulated Depreciation		$ 10,654
Date of Completion of Construction, Acquisition or Significant Improvement		2012
Date Acquired		2012
Average Depreciable Life		35 years
Northwest Texas Professional Office Tower Amarillo TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	7,180
Adjustments to Basis	[3],[7]	1,590
Land	[7]	0
Buildings and Improvements	[7]	8,770
CIP	[7]	0
Total	[7]	8,770
Accumulated Depreciation	[7]	$ 3,525
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2012
Date Acquired	[7]	2012
Average Depreciable Life	[7]	35 years
Ward Eagle Office Village Farmington Hills MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		220
Initial Cost, Building & Improvements		3,220
Adjustments to Basis	[3]	177
Land		220
Buildings and Improvements		3,397
CIP		0
Total		3,617
Accumulated Depreciation		$ 1,364
Date of Completion of Construction, Acquisition or Significant Improvement		2013
Date Acquired		2013
Average Depreciable Life		35 years
5004 Poole Road Medical Office Building Denison, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		96
Initial Cost, Building & Improvements		529
Adjustments to Basis	[3]	0
Land		96
Buildings and Improvements		529
CIP		0
Total		625
Accumulated Depreciation		$ 200
Date of Completion of Construction, Acquisition or Significant Improvement		2013
Date Acquired		2013
Average Depreciable Life		35 years
Desert Valley Medical Center Phoenix AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		2,280
Initial Cost, Building & Improvements		4,624
Adjustments to Basis	[3]	1,408
Land		2,280
Buildings and Improvements		6,032
CIP		14
Total		8,326
Accumulated Depreciation		$ 2,836
Date of Completion of Construction, Acquisition or Significant Improvement		1996
Date Acquired		1996
Average Depreciable Life		30 years
Hanover Emergency Center Mechanicsville, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,300
Initial Cost, Building & Improvements		6,224
Adjustments to Basis	[3]	0
Land		1,300
Buildings and Improvements		6,224
CIP		0
Total		7,524
Accumulated Depreciation		$ 2,147
Date of Completion of Construction, Acquisition or Significant Improvement		2014
Date Acquired		2014
Average Depreciable Life		35 years
Haas Medical Office Park Ottumwa, IA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[8]	$ 0
Initial Cost, Land	[8]	0
Initial Cost, Building & Improvements	[8]	3,571
Adjustments to Basis	[3],[8]	0
Land	[8]	0
Buildings and Improvements	[8]	3,571
CIP	[8]	0
Total	[8]	3,571
Accumulated Depreciation	[8]	$ 1,185
Date of Completion of Construction, Acquisition or Significant Improvement	[8]	2015
Date Acquired	[8]	2015
Average Depreciable Life	[8]	35 years
South Texas ER at Mission, Mission, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,441
Initial Cost, Building & Improvements		4,696
Adjustments to Basis	[3]	0
Land		1,441
Buildings and Improvements		4,696
CIP		0
Total		6,137
Accumulated Depreciation		$ 1,562
Date of Completion of Construction, Acquisition or Significant Improvement		2015
Date Acquired		2015
Average Depreciable Life		35 years
3811 E. Bell Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		930
Initial Cost, Building & Improvements		6,929
Adjustments to Basis	[3]	2,403
Land		930
Buildings and Improvements		9,332
CIP		266
Total		10,528
Accumulated Depreciation		$ 4,423
Date of Completion of Construction, Acquisition or Significant Improvement		2010
Date Acquired		2010
Average Depreciable Life		30 years
Northwest Medical Center at Sugar Creek, Bentonville, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,100
Initial Cost, Building & Improvements		2,870
Adjustments to Basis	[3]	140
Land		1,100
Buildings and Improvements		3,010
CIP		0
Total		4,110
Accumulated Depreciation		$ 1,091
Date of Completion of Construction, Acquisition or Significant Improvement		2014
Date Acquired		2014
Average Depreciable Life		35 years
Rosenberg Children's Medical Plaza, Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[8]	$ 11,503
Initial Cost, Land	[8]	0
Initial Cost, Building & Improvements	[8]	23,302
Adjustments to Basis	[3],[8]	158
Land	[8]	0
Buildings and Improvements	[8]	23,460
CIP	[8]	5
Total	[8]	23,465
Accumulated Depreciation	[8]	$ 8,186
Date of Completion of Construction, Acquisition or Significant Improvement	[8]	2001
Date Acquired	[8]	2001
Average Depreciable Life	[8]	35 years
Phoenix Children's East Valley Care Center, Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 7,646
Initial Cost, Land		1,050
Initial Cost, Building & Improvements		10,900
Adjustments to Basis	[3]	0
Land		1,050
Buildings and Improvements		10,900
CIP		0
Total		11,950
Accumulated Depreciation		$ 3,780
Date of Completion of Construction, Acquisition or Significant Improvement		2006
Date Acquired		2006
Average Depreciable Life		35 years
Palmdale Medical Plaza, Palmdale, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	10,555
Adjustments to Basis	[3],[7]	1,869
Land	[7]	0
Buildings and Improvements	[7]	12,424
CIP	[7]	837
Total	[7]	13,261
Accumulated Depreciation	[7]	$ 4,823
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2008
Date Acquired	[7]	2008
Average Depreciable Life	[7]	34 years
Piedmont-Roswell Physician Center Sandy Springs, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		2,338
Initial Cost, Building & Improvements		2,128
Adjustments to Basis	[3]	0
Land		2,338
Buildings and Improvements		2,128
CIP		0
Total		4,466
Accumulated Depreciation		$ 890
Date of Completion of Construction, Acquisition or Significant Improvement		2015
Date Acquired		2015
Average Depreciable Life		30 years
Piedmont-Vinings Physician Center Vinings, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,348
Initial Cost, Building & Improvements		2,418
Adjustments to Basis	[3]	0
Land		1,348
Buildings and Improvements		2,418
CIP		0
Total		3,766
Accumulated Depreciation		$ 978
Date of Completion of Construction, Acquisition or Significant Improvement		2015
Date Acquired		2015
Average Depreciable Life		30 years
Santa Fe Professional Plaza Scottsdale, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,090
Initial Cost, Building & Improvements		1,960
Adjustments to Basis	[3]	671
Land		1,090
Buildings and Improvements		2,631
CIP		74
Total		3,795
Accumulated Depreciation		$ 1,278
Date of Completion of Construction, Acquisition or Significant Improvement		1999
Date Acquired		1999
Average Depreciable Life		30 years
Sierra San Antonio Medical Plaza Fontana, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[8]	$ 0
Initial Cost, Land	[8]	0
Initial Cost, Building & Improvements	[8]	11,538
Adjustments to Basis	[3],[8]	1,381
Land	[8]	0
Buildings and Improvements	[8]	12,919
CIP	[8]	734
Total	[8]	13,653
Accumulated Depreciation	[8]	$ 5,374
Date of Completion of Construction, Acquisition or Significant Improvement	[8]	2006
Date Acquired	[8]	2006
Average Depreciable Life	[8]	30 years
Vista Medical Terrace & Sparks MOB Sparks, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	9,276
Adjustments to Basis	[3],[7]	2,576
Land	[7]	0
Buildings and Improvements	[7]	11,852
CIP	[7]	123
Total	[7]	11,975
Accumulated Depreciation	[7]	$ 5,564
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2008
Date Acquired	[7]	2008
Average Depreciable Life	[7]	30 years
South Texas E R At Weslaco Weslaco T X
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,749
Initial Cost, Building & Improvements		4,879
Adjustments to Basis	[3]	0
Land		1,749
Buildings and Improvements		4,879
CIP		0
Total		6,628
Accumulated Depreciation		$ 1,631
Date of Completion of Construction, Acquisition or Significant Improvement		2015
Date Acquired		2015
Average Depreciable Life		35 years
Chandler Corporate Center III Chandler, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		2,328
Initial Cost, Building & Improvements		14,131
Adjustments to Basis	[3]	0
Land		2,328
Buildings and Improvements		14,131
CIP		0
Total		16,459
Accumulated Depreciation		$ 5,864
Date of Completion of Construction, Acquisition or Significant Improvement		2016
Date Acquired		2016
Average Depreciable Life		35 years
Frederick Crestwood Mob Frederick, MD
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		2,265
Initial Cost, Building & Improvements		18,731
Adjustments to Basis	[3]	0
Land		2,265
Buildings and Improvements		18,731
CIP		0
Total		20,996
Accumulated Depreciation		$ 6,004
Date of Completion of Construction, Acquisition or Significant Improvement		2016
Date Acquired		2016
Average Depreciable Life		35 years
Madison Professional Office Building Madison, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		2,296
Initial Cost, Building & Improvements		6,411
Adjustments to Basis	[3]	137
Land		2,296
Buildings and Improvements		6,548
CIP		0
Total		8,844
Accumulated Depreciation		$ 2,247
Date of Completion of Construction, Acquisition or Significant Improvement		2016
Date Acquired		2016
Average Depreciable Life		35 years
2704 North Tenaya Way MOB Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		3,032
Initial Cost, Building & Improvements		10,602
Adjustments to Basis	[3]	0
Land		3,032
Buildings and Improvements		10,602
CIP		0
Total		13,634
Accumulated Depreciation		$ 3,206
Date of Completion of Construction, Acquisition or Significant Improvement		2016
Date Acquired		2016
Average Depreciable Life		35 years
Hendserson Medical Plaza Henderson NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	10,718
Adjustments to Basis	[3],[7]	10,592
Land	[7]	0
Buildings and Improvements	[7]	21,310
CIP	[7]	56
Total	[7]	21,366
Accumulated Depreciation	[7]	$ 10,171
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2017
Date Acquired	[7]	2017
Average Depreciable Life	[7]	35 years
Health Center at Hamburg Hamburg, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		696
Initial Cost, Building & Improvements		3,406
Adjustments to Basis	[3]	0
Land		696
Buildings and Improvements		3,406
CIP		0
Total		4,102
Accumulated Depreciation		$ 1,023
Date of Completion of Construction, Acquisition or Significant Improvement		2017
Date Acquired		2017
Average Depreciable Life		35 years
Las Palmas Del Sol Emergency Center West El Paso, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		801
Initial Cost, Building & Improvements		5,029
Adjustments to Basis	[3]	0
Land		801
Buildings and Improvements		5,029
CIP		0
Total		5,830
Accumulated Depreciation		$ 1,367
Date of Completion of Construction, Acquisition or Significant Improvement		2017
Date Acquired		2017
Average Depreciable Life		35 years
Beaumont Sleep Centrer Southfield, MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		254
Initial Cost, Building & Improvements		2,968
Adjustments to Basis	[3]	0
Land		254
Buildings and Improvements		2,968
CIP		0
Total		3,222
Accumulated Depreciation		$ 787
Date of Completion of Construction, Acquisition or Significant Improvement		2018
Date Acquired		2018
Average Depreciable Life		35 years
Clive Behavioral Health Clive IA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,330
Initial Cost, Building & Improvements		33,954
Adjustments to Basis	[3]	0
Land		1,330
Buildings and Improvements		33,954
CIP		0
Total		35,284
Accumulated Depreciation		$ 5,678
Date of Completion of Construction, Acquisition or Significant Improvement		2020
Date Acquired		2019
Average Depreciable Life		35 years
Bellin Health Family Medicine Center Escanaba, MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		605
Initial Cost, Building & Improvements		3,906
Adjustments to Basis	[3]	0
Land		605
Buildings and Improvements		3,906
CIP		0
Total		4,511
Accumulated Depreciation		$ 809
Date of Completion of Construction, Acquisition or Significant Improvement		2019
Date Acquired		2019
Average Depreciable Life		35 years
Sand Point Medical Properties Escanaba, MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		265
Initial Cost, Building & Improvements		1,654
Adjustments to Basis	[3]	0
Land		265
Buildings and Improvements		1,654
CIP		0
Total		1,919
Accumulated Depreciation		$ 271
Date of Completion of Construction, Acquisition or Significant Improvement		2020
Date Acquired		2020
Average Depreciable Life		35 years
Fire Mesa, Llc Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 2,400
Initial Cost, Building & Improvements		9,671
Land		2,400
Buildings and Improvements		9,671
Total		12,071
Accumulated Depreciation		$ 1,662
Date of Completion of Construction, Acquisition or Significant Improvement		2021
Date Acquired		2021
Average Depreciable Life		35 years
Texoma Medical Plaza Denison, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[3],[7]	$ 0
Initial Cost, Land	[3],[7]	0
Initial Cost, Building & Improvements	[3],[7]	19,771
Adjustments to Basis	[3],[7]	575
Land	[3],[7]	0
Buildings and Improvements	[3],[7]	20,346
CIP	[3],[7]	0
Total	[3],[7]	20,346
Accumulated Depreciation	[3],[7]	$ 7,639
Date of Completion of Construction, Acquisition or Significant Improvement	[3],[7]	2021
Date Acquired	[3],[7]	2021
Average Depreciable Life	[3],[7]	39 years
Sierra Medical Plaza I Reno, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1],[7]	$ 0
Initial Cost, Land	[7]	0
Initial Cost, Building & Improvements	[7]	29,275
Adjustments to Basis	[3],[7]	0
Land	[7]	0
Buildings and Improvements	[7]	29,275
CIP	[7]	0
Total	[7]	29,275
Accumulated Depreciation	[7]	$ 1,975
Date of Completion of Construction, Acquisition or Significant Improvement	[7]	2023
Date Acquired	[7]	2021
Average Depreciable Life	[7]	35 years
Beaumont Heart & Vascular Center Dearborn, Mi
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		537
Initial Cost, Building & Improvements		4,434
Land		537
Buildings and Improvements		4,434
CIP		0
Total		4,971
Accumulated Depreciation		$ 555
Date of Completion of Construction, Acquisition or Significant Improvement		2022
Date Acquired		2022
Average Depreciable Life		35 years
140 Thomas Johnson Drive Frederick, MD
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,197
Initial Cost, Building & Improvements		5,635
Adjustments to Basis	[3]	35
Land		1,197
Buildings and Improvements		5,670
CIP		0
Total		6,867
Accumulated Depreciation		$ 627
Date of Completion of Construction, Acquisition or Significant Improvement		2022
Date Acquired		2022
Average Depreciable Life		35 years
McAllen Doctor's Center McAllen, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	[1]	$ 0
Initial Cost, Land		1,343
Initial Cost, Building & Improvements		4,440
Land		1,343
Buildings and Improvements		4,440
CIP		1,316
Total		7,099
Accumulated Depreciation		$ 352
Date of Completion of Construction, Acquisition or Significant Improvement		2023
Date Acquired		2023
Average Depreciable Life		35 years
[1] Consists of outstanding balances as of December 31, 2024 on third-party debt that is non-recourse to us. The aggregate cost for federal income tax purposes is $ 726 million (unaudited) with a net book value of $ 421 million (unaudited). Consists of costs capitalized subsequent to acquisition or initial construction, purchase price adjustments, and write-off of costs of fully depreciated assets, divested assets, asset impairments and hurricane-damaged assets. Carrying value of depreciable assets were written down to zero as a result of substantial damage from Hurricane Harvey during the third quarter of 2017. During 2008, a $ 4.6 million provision for asset impairment was recorded in connection with the real estate assets of Southern Crescent Center I & Southern Crescent Center II. Carrying value of depreciable assets were written down as a result of substantial damage from Hurricane Harvey during the third quarter of 2017. We are the lessee with a UHS-related party on a ground lease for land. We are the lessee with a third party on a ground lease for land.

Schedule III Real Estate and _2

Schedule III Real Estate and Accumulated Depreciation (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2008	Dec. 31, 2024	Dec. 31, 2023
Real Estate and Accumulated Depreciation [Line Items]
Provision for asset impairment	$ 4.6
Aggregate cost of properties for federal income tax purposes		$ 726	$ 710
Net book value of the properties for federal income tax purposes		$ 421	$ 422

Reconciliation of Real Estate P

Reconciliation of Real Estate Properties and Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Beginning balance		$ 706,244		$ 697,969	$ 663,733
Additions	[1]	6,647		17,505	22,555
Acquisitions		0		5,783	11,802
Disposals/Divestitures	[2]	(25)		(15,013)	(121)
Ending balance		712,866	[3]	706,244	697,969
Beginning balance		262,449		248,772	225,584
Disposals/Divestitures	[2]	(25)		(10,882)	(121)
Depreciation expense		24,508		24,559	23,309
Ending balance		$ 286,932		$ 262,449	$ 248,772
[1] Included in the additions for 2024, 2023 and 2022 are approximately $ 855,000 , $ 7.5 million an d $ 18.0 million related to the construction of a new MOB , which was substantially completed in March, 2023, and is located on the c ampus of a UHS wholly-owned hospital that was completed and opened in April, 2022. The 2024 year includes the disposal of $ 25,000 in fully depreciated furniture. The 2023 year includes the sale of the Corpus Christi facility, as well as the demolition of the building previously located on the now-vacant land in Chicago, Illinois. The aggregate cost for federal income tax purposes is $ 726 million (unaudited) with a net book value of $ 421 million (unaudited).

Reconciliation of Real Estate_2

Reconciliation of Real Estate Properties and Accumulated Depreciation (Parenthetical) (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Real Estate and Accumulated Depreciation [Line Items]
Additions	[1]	$ 6,647,000	$ 17,505,000	$ 22,555,000
Disposals	[2]	25,000	10,882,000	121,000
New Medical Office Building
Real Estate and Accumulated Depreciation [Line Items]
Additions		855,000	$ 7,500,000	$ 18,000,000
Furniture
Real Estate and Accumulated Depreciation [Line Items]
Disposals		$ 25,000
[1] Included in the additions for 2024, 2023 and 2022 are approximately $ 855,000 , $ 7.5 million an d $ 18.0 million related to the construction of a new MOB , which was substantially completed in March, 2023, and is located on the c ampus of a UHS wholly-owned hospital that was completed and opened in April, 2022. The 2024 year includes the disposal of $ 25,000 in fully depreciated furniture. The 2023 year includes the sale of the Corpus Christi facility, as well as the demolition of the building previously located on the now-vacant land in Chicago, Illinois.