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(Mark One)
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x
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended December 31, 2013
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OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from to
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Delaware
(State or Other Jurisdiction of
Incorporation or Organization)
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61-1055020
(IRS Employer
Identification No.)
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353 N. Clark Street, Suite 3300, Chicago, Illinois
(Address of Principal Executive Offices)
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60654
(Zip Code)
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Title of Each Class
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Name of Each Exchange on Which Registered
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Common Stock, par value $0.25 per share
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New York Stock Exchange
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Large accelerated filer
x
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Accelerated filer
¨
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Non-accelerated filer
¨
(Do not check if a
smaller reporting company)
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Smaller reporting company
¨
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•
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The ability and willingness of our tenants, operators, borrowers, managers and other third parties to satisfy their obligations under their respective contractual arrangements with us, including, in some cases, their obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities;
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•
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The ability of our tenants, operators, borrowers and managers to maintain the financial strength and liquidity necessary to satisfy their respective obligations and liabilities to third parties, including without limitation obligations under their existing credit facilities and other indebtedness;
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Our success in implementing our business strategy and our ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments, including investments in different asset types and outside the United States;
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•
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Macroeconomic conditions such as a disruption of or lack of access to the capital markets, changes in the debt rating on U.S. government securities, default or delay in payment by the United States of its obligations, and changes in the federal or state budgets resulting in the reduction or nonpayment of Medicare or Medicaid reimbursement rates;
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•
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The nature and extent of future competition, including new construction in the markets in which our seniors housing communities and medical office buildings (“MOBs”) are located;
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The extent of future or pending healthcare reform and regulation, including cost containment measures and changes in reimbursement policies, procedures and rates;
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•
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Increases in our borrowing costs as a result of changes in interest rates and other factors;
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The ability of our operators and managers, as applicable, to comply with laws, rules and regulations in the operation of our properties, to deliver high quality services, to attract and retain qualified personnel and to attract residents and patients;
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Changes in general economic conditions or economic conditions in the markets in which we may, from time to time, compete, and the effect of those changes on our revenues, earnings and funding sources;
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Our ability to pay down, refinance, restructure or extend our indebtedness as it becomes due;
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Our ability and willingness to maintain our qualification as a REIT in light of economic, market, legal, tax and other considerations;
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Final determination of our taxable net income for the year ended
December 31, 2013
and for the year ending December 31,
2014
;
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•
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The ability and willingness of our tenants to renew their leases with us upon expiration of the leases, our ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we exercise our right to replace an existing tenant, and obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant;
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•
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Risks associated with our senior living operating portfolio, such as factors that can cause volatility in our operating income and earnings generated by those properties, including without limitation national and regional economic conditions, costs of food, materials, energy, labor and services, employee benefit costs, insurance costs and professional and general liability claims, and the timely delivery of accurate property-level financial results for those properties;
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•
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Changes in currency exchange rates for U.S. or Canadian dollars or any other currency in which we may, from time to time, conduct business;
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Year-over-year changes in the Consumer Price Index (“CPI”) and the effect of those changes on the rent escalators contained in our leases and on our earnings;
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Our ability and the ability of our tenants, operators, borrowers and managers to obtain and maintain adequate property, liability and other insurance from reputable, financially stable providers;
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The impact of increased operating costs and uninsured professional liability claims on our liquidity, financial condition and results of operations or that of our tenants, operators, borrowers and managers and our ability and the ability of our tenants, operators, borrowers and managers to accurately estimate the magnitude of those claims;
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•
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Risks associated with our MOB portfolio and operations, including our ability to successfully design, develop and manage MOBs, to accurately estimate our costs in fixed fee-for-service projects and to retain key personnel;
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The ability of the hospitals on or near whose campuses our MOBs are located and their affiliated health systems to remain competitive and financially viable and to attract physicians and physician groups;
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Our ability to build, maintain and expand our relationships with existing and prospective hospital and health system clients;
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Risks associated with our investments in joint ventures and unconsolidated entities, including our lack of sole decision-making authority and our reliance on our joint venture partners’ financial condition;
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The impact of market or issuer events on the liquidity or value of our investments in marketable securities;
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Merger and acquisition activity in the healthcare and seniors housing industries resulting in a change of control of, or a competitor’s investment in, one or more of our tenants, operators, borrowers or managers or significant changes in the senior management of our tenants, operators, borrowers or managers; and
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•
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The impact of litigation or any financial, accounting, legal or regulatory issues that may affect us or our tenants, operators, borrowers or managers.
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•
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We paid an annual cash dividend on our common stock of
$2.735
per share, which represents an increase of more than
10%
over the prior year.
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•
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We invested approximately
$1.8 billion
in seniors housing communities, MOBs and loans and other investments.
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•
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We invested approximately $96 million in redevelopment and development projects across each of our three segments.
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•
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We generated cash flows from operations of approximately
$1.2 billion
, which represents an increase of more than 20% over 2012.
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•
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We renewed, sold or transitioned to new operators all 89 licensed healthcare assets leased by Kindred whose lease terms expired during the second quarter of 2013, and we entered into favorable agreements with Kindred to extend the leases at a higher rental rate with respect to
48
of the
108
licensed healthcare assets whose lease terms were originally scheduled to expire on April 30, 2015 (the “2015 Renewal Assets”). See “Significant Tenants, Operators and Managers—Triple-Net Leased Properties—Kindred Master Leases.”
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•
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We issued and sold
$1.6 billion
aggregate principal amount of senior notes having a weighted average interest rate of
3.3%
and a weighted average initial maturity of
13.6
years.
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We entered into a new $3 billion unsecured credit facility, comprised of a $2 billion revolving credit facility initially priced at 100 basis points over LIBOR, and a $200 million four-year term loan and an $800 million five-year term loan, each initially priced at 105 basis points over LIBOR.
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•
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We established an “at-the-market” equity offering program through which we may sell up to an aggregate of
$750.0 million
of our common stock, and we issued and sold a total of
2,069,200
shares at an average price of
$69.42
per share for aggregate net proceeds (after sales agent commissions) of
$141.5 million
under the program.
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•
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We sold assets, including loans, and received final repayment on loans receivable for aggregate proceeds of approximately
$358 million
.
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Real Estate Property Investments
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Revenues
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||||||||||||||||
Asset Type
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# of
Properties(1)
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# of
Units/Beds/
Sq. Ft.
(2)
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Real Estate Property Investment, at Cost
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Percent of
Total Real Estate Property Investments
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Real Estate
Property
Investment Per Unit/Bed/Sq. Ft.
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Revenue
(3)
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Percent of Total Revenues
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Number
of
States/
Provinces(4)
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(Dollars in thousands)
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Seniors housing communities
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694
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61,604
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$
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14,003,816
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64.3
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%
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$
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227.3
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$1,818,812
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64.7
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%
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46
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MOBs (5)
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309
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16,687,925
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3,963,705
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18.2
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0.2
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467,916
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16.7
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29
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Skilled nursing and other facilities
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371
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41,839
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2,940,617
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13.5
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70.3
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344,114
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12.2
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41
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Hospitals
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47
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3,820
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495,454
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2.3
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129.7
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118,956
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4.2
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18
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Total properties
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1,421
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21,403,592
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98.3
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2,749,798
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97.8
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49
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Loans and investments
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376,229
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1.7
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58,208
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2.1
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Other
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—
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—
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2,047
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0.1
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Total
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$
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21,779,821
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100.0
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%
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$2,810,053
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100.0
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%
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(1)
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Excludes
20
seniors housing communities,
18
MOBs and
14
skilled nursing facilities included in investments in unconsolidated entities. Also excludes
eight
seniors housing communities,
seven
skilled nursing facilities, and
four
MOBs classified as held for sale as of
December 31, 2013
.
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(2)
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Seniors housing communities are measured in units; MOBs are measured by square footage; and skilled nursing and other facilities and hospitals are measured by bed count.
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(3)
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Revenues relate to the actual period of ownership and do not necessarily reflect a full year.
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(4)
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As of
December 31, 2013
, our consolidated properties were located in
46
states, the District of Columbia and
two
Canadian provinces and, excluding MOBs, were operated or managed by
72
different third-party healthcare operating companies, including the following publicly traded companies or their subsidiaries: Brookdale (
145
properties); Kindred (
142
properties); Emeritus Corporation (
16
properties) and Capital Senior Living Corporation (
12
properties).
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(5)
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As of
December 31, 2013
, we leased
30
of our consolidated MOBs pursuant to triple-net leases, Lillibridge or PMBRES managed
258
of our consolidated MOBs and
44
of our consolidated MOBs were managed by
15
different third-party managers. Through Lillibridge and PMBRES, we provided management and leasing services to third parties with respect to
81
MOBs as of
December 31, 2013
.
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Rental Income and
Resident Fees and
Services (1)
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Percent of Total
Revenues (1)
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(Dollars in thousands)
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Geographic Location
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California
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$
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407,347
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14.5
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%
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New York
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280,306
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10.0
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Texas
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190,635
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6.8
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Illinois
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132,402
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4.7
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Florida
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116,253
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4.1
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Massachusetts
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113,932
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4.1
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Pennsylvania
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105,679
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3.8
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New Jersey
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85,299
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3.0
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North Carolina
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81,915
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2.9
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Arizona
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79,526
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2.8
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Other (36 states and the District of Columbia)
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1,045,500
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37.2
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Total U.S
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2,638,794
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93.9
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%
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Canada (two Canadian provinces)
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93,195
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3.3
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Total
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$
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2,731,989
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97.2
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%
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(2)
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(1)
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Rental income and resident fees and services relate to the actual period of ownership and do not necessarily reflect a full year. This presentation excludes revenues from properties sold during
2013
and properties classified as held for sale as of
December 31, 2013
.
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(2)
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The remainder of our total revenues is medical office building and other services revenue, income from loans and investments and interest and other income.
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NOI (1)
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Percent of Total
NOI (1)
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(Dollars in thousands)
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Geographic Location
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|||
California
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$
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225,371
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13.3
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%
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Texas
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128,480
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7.6
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New York
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114,580
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6.8
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Illinois
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84,620
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5.0
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Florida
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78,640
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|
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4.7
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Massachusetts
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76,866
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4.6
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Indiana
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58,688
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|
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3.5
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North Carolina
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58,134
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3.4
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Wisconsin
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54,047
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3.2
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Ohio
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52,629
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3.1
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Other (36 states and the District of Columbia)
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710,654
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|
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42.0
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Total U.S
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1,642,709
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97.2
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%
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Canada (two Canadian provinces)
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47,350
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|
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2.8
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Total
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$
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1,690,059
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|
|
100.0
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%
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(1)
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NOI relates to the actual period of ownership and does not necessarily reflect a full year. This presentation excludes NOI from properties sold during
2013
and properties classified as held for sale as of
December 31, 2013
.
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Skilled
Nursing
Facilities
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Hospitals
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Total
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States with CON requirements
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67.2
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%
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49.6
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%
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62.7
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%
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States without CON requirements
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32.8
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|
50.4
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37.3
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Total
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100.0
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%
|
|
100.0
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%
|
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100.0
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%
|
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Number of
Properties
Leased or
Managed (1)
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Percent of Total Real Estate Investments (2)
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Percent of Total Revenues (3)
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Percent of
NOI (3)
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Senior living operations
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239
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33.9
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%
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50.2
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%
|
|
26.6
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%
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Brookdale Senior Living (4)
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145
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|
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9.7
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5.6
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9.2
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|
Kindred
|
142
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3.2
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8.1
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13.4
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(1)
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Excludes properties classified as held for sale as of
December 31, 2013
.
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(2)
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Based on gross book value (excluding properties classified as held for sale as of
December 31, 2013
and
six
properties included in investments in unconsolidated entities).
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(3)
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Amounts relate to the actual period of ownership and do not necessarily reflect a full year. Excludes amounts in discontinued operations. NOI is defined as total revenues, less interest and other income, property-level operating expenses and medical office building services costs.
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(4)
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Excludes
six
properties included in investments in unconsolidated entities.
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•
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The anti-kickback statute (Section 1128B(b) of the Social Security Act), which prohibits certain business practices and relationships, including the payment, receipt or solicitation of any remuneration, directly or indirectly, to induce a referral of any patient or service or item covered by a federal health care program, including Medicare, or a state health program, such as Medicaid;
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•
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The physician self-referral prohibition (Ethics in Patient Referrals Act of 1989, commonly referred to as the “Stark Law”), which prohibits referrals by physicians of Medicare or Medicaid patients to providers of a broad range of designated healthcare services with which the physicians (or their immediate family members) have ownership interests or certain other financial arrangements;
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•
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The False Claims Act, which prohibits any person from knowingly presenting false or fraudulent claims for payment by the federal government (including the Medicare and Medicaid programs);
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•
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The Civil Monetary Penalties Law, which authorizes HHS to impose civil penalties administratively for fraudulent acts; and
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•
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The Health Insurance Portability and Accountability Act of 1996 (commonly referred to as “HIPAA”), which among other things, protects the privacy and security of individually identifiable health information by limiting its use and disclosure.
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•
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Prevention of the application of the “25-percent rule,” which limits payments from referring co-located hospitals, to freestanding and grandfathered long-term acute care hospitals;
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•
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Modification of the application of the 25-percent rule to certain urban and rural long-term acute care “hospitals-within-hospitals” and “satellite” facilities;
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•
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Prevention of the application of the “very short stay outlier” policy; and
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•
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Prevention of any one-time adjustments to correct estimates used in implementing LTAC PPS.
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At least 75% of our gross income (excluding gross income from prohibited transactions) for each taxable year must consist of defined types of income derived directly or indirectly from investments relating to real property or mortgages on real property (including pledges of equity interest in certain entities holding real property and also including “rents from real property” (as defined in the Code)) and, in certain circumstances, interest on certain types of temporary investment income; and
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•
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At least 95% of our gross income (excluding gross income from prohibited transactions) for each taxable year must be derived from such real property or temporary investments, dividends, interest and gain from the sale or disposition of stock or securities, or from any combination of the foregoing.
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•
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At least 75% of the value of our total assets must be represented by cash or cash items (including certain receivables), government securities, “real estate assets” (including interests in real property and in mortgages on real property and shares in other qualifying REITs) or, in cases where we raise new capital through stock or long-term (i.e., having a maturity of at least five years) debt offerings, temporary investments in stock or debt instruments during the one-year period following our receipt of such capital (the “75% asset test”); and
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•
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Of the investments not meeting the requirements of the 75% asset test, the value of any single issuer’s debt and equity securities that we own (other than our equity interests in any entity classified as a partnership for federal income tax purposes, the stock or debt of a taxable REIT subsidiary or the stock or debt of a qualified REIT subsidiary or other disregarded entity subsidiary) may not exceed 5% of the value of our total assets (the “5% asset test”), and we may not own more than 10% of any single issuer’s outstanding voting securities (the “10% voting securities test”) or more than 10% of the value of any single issuer’s outstanding securities (the “10% value test”), subject to limited “safe harbor” exceptions.
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•
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Risks arising from our business;
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•
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Risks arising from our capital structure; and
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•
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Risks arising from our status as a REIT.
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•
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We may be unable to successfully integrate the operations, personnel or systems of acquired companies, maintain consistent standards, controls, policies and procedures, or realize the anticipated benefits of acquisitions and other investments within the anticipated time frame or at all;
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•
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We may be unable to effectively monitor and manage our expanded portfolio of properties, retain key employees or attract highly qualified new employees;
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•
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Projections of estimated future revenues, costs savings or operating metrics that we develop during the due diligence and integration planning process might be inaccurate;
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•
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Our leverage could increase or our per share financial results could decline if we incur additional debt or issue equity securities to finance acquisitions and investments;
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•
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Acquisitions and other new investments could divert management’s attention from our existing assets;
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•
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The value of acquired assets or the market price of our common stock may decline; and
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•
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We may be unable to continue paying dividends at the current rate.
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•
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Liabilities relating to the clean-up or remediation of undisclosed environmental conditions;
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•
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Unasserted claims of vendors or other persons dealing with the sellers;
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•
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Liabilities, claims and litigation, including indemnification obligations, whether or not incurred in the ordinary course of business, relating to periods prior to or following our acquisition;
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•
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Claims for indemnification by general partners, directors, officers and others indemnified by the sellers; and
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•
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Liabilities for taxes relating to periods prior to our acquisition.
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•
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We may be unable to obtain financing for the project on favorable terms or at all;
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•
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We may not complete the project on schedule or within budgeted amounts;
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•
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We may encounter delays in obtaining or fail to obtain all necessary zoning, land use, building, occupancy, environmental and other governmental permits and authorizations, or underestimate the costs necessary to develop or redevelop the property to market standards;
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•
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Construction or other delays may provide tenants or residents the right to terminate preconstruction leases or cause us to incur additional costs;
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•
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Volatility in the price of construction materials or labor may increase our project costs;
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•
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In the case of our MOB developments, hospitals or health systems may maintain significant decision-making authority with respect to the development schedule;
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•
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Our builders may fail to perform or satisfy the expectations of our clients or prospective clients;
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•
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We may incorrectly forecast risks associated with development in new geographic regions;
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•
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Tenants may not lease space at the quantity or rental rate levels or on the schedule projected;
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•
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Demand for our project may decrease prior to completion, including due to competition from other developments; and
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•
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Lease rates and rents at newly developed or redeveloped properties may fluctuate based on factors beyond our control, including market and economic conditions.
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•
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We may be unable to take actions that are opposed by our joint venture partners under arrangements that require us to share decision-making authority over major decisions affecting the ownership or operation of the joint venture and any property owned by the joint venture, such as the sale or financing of the property or the making of additional capital contributions for the benefit of the property;
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•
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For joint ventures in which we have a noncontrolling interest, our joint venture partners may take actions that we oppose;
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•
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Our ability to sell or transfer our interest in a joint venture to a third party may be restricted if we fail to obtain the prior consent of our joint venture partners;
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•
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Our joint venture partners may become bankrupt or fail to fund their share of required capital contributions, which could delay construction or development of a property or increase our financial commitment to the joint venture;
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•
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Our joint venture partners may have business interests or goals with respect to a property that conflict with our business interests and goals, including with respect to the timing, terms and strategies for investment, which could increase the likelihood of disputes regarding the ownership, management or disposition of the property;
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•
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Disagreements with our joint venture partners could result in litigation or arbitration that increases our expenses, distracts our officers and directors, and disrupts the day-to-day operations of the property, including by delaying important decisions until the dispute is resolved; and
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•
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We may suffer losses as a result of actions taken by our joint venture partners with respect to our joint venture investments.
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•
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Potential limits on our ability to adjust rapidly to changing market conditions and vulnerability in the event of a downturn in general economic conditions or in the real estate or healthcare industries;
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•
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Potential impairment of our ability to obtain additional financing to execute on our business strategy; and
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•
|
Potential downgrade in the rating of our debt securities by one or more rating agencies, which could have the effect of, among other things, limiting our access to capital and increasing our cost of borrowing.
|
•
|
We would not be allowed a deduction for distributions to stockholders in computing our taxable income and would be subject to federal income tax at regular corporate rates;
|
•
|
We could be subject to the federal alternative minimum tax and increased state and local taxes; and
|
•
|
Unless we are entitled to relief under statutory provisions, we could not elect to be subject to tax as a REIT for four taxable years following the year during which we were disqualified.
|
|
Seniors Housing
Communities
|
|
Skilled Nursing and Other
Facilities
|
|
MOBs
|
|
Hospitals
|
||||||||||||||||
Geographic Location
|
Number of
Properties
|
|
Units
|
|
Number of Properties
|
|
Licensed
Beds
|
|
Number of Properties
|
|
Square Feet
|
|
Number of Properties
|
|
Licensed Beds
|
||||||||
Alabama
|
7
|
|
|
435
|
|
|
1
|
|
|
159
|
|
|
4
|
|
|
468,887
|
|
|
—
|
|
|
—
|
|
Arizona
|
21
|
|
|
1,802
|
|
|
3
|
|
|
462
|
|
|
13
|
|
|
938,176
|
|
|
3
|
|
|
169
|
|
Arkansas
|
5
|
|
|
318
|
|
|
8
|
|
|
875
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
California
|
76
|
|
|
9,091
|
|
|
9
|
|
|
1,115
|
|
|
24
|
|
|
1,928,531
|
|
|
7
|
|
|
530
|
|
Colorado
|
19
|
|
|
1,742
|
|
|
4
|
|
|
460
|
|
|
12
|
|
|
828,693
|
|
|
1
|
|
|
68
|
|
Connecticut
|
14
|
|
|
1,626
|
|
|
6
|
|
|
708
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
District of Columbia
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
101,580
|
|
|
—
|
|
|
—
|
|
Florida
|
46
|
|
|
4,493
|
|
|
1
|
|
|
171
|
|
|
19
|
|
|
547,533
|
|
|
6
|
|
|
511
|
|
Georgia
|
12
|
|
|
1,030
|
|
|
5
|
|
|
620
|
|
|
16
|
|
|
1,250,104
|
|
|
—
|
|
|
—
|
|
Idaho
|
1
|
|
|
70
|
|
|
7
|
|
|
624
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Illinois
|
17
|
|
|
2,606
|
|
|
1
|
|
|
82
|
|
|
35
|
|
|
1,215,278
|
|
|
4
|
|
|
430
|
|
Indiana
|
16
|
|
|
1,235
|
|
|
34
|
|
|
3,782
|
|
|
15
|
|
|
947,857
|
|
|
1
|
|
|
59
|
|
Kansas
|
12
|
|
|
724
|
|
|
5
|
|
|
374
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Kentucky
|
8
|
|
|
742
|
|
|
29
|
|
|
3,273
|
|
|
3
|
|
|
160,535
|
|
|
2
|
|
|
424
|
|
Louisiana
|
1
|
|
|
58
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
560,792
|
|
|
1
|
|
|
168
|
|
Maine
|
6
|
|
|
879
|
|
|
8
|
|
|
654
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Maryland
|
5
|
|
|
360
|
|
|
3
|
|
|
445
|
|
|
2
|
|
|
82,663
|
|
|
—
|
|
|
—
|
|
Massachusetts
|
20
|
|
|
2,176
|
|
|
45
|
|
|
5,128
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
109
|
|
Michigan
|
24
|
|
|
1,642
|
|
|
1
|
|
|
330
|
|
|
11
|
|
|
439,429
|
|
|
—
|
|
|
—
|
|
Minnesota
|
18
|
|
|
1,027
|
|
|
3
|
|
|
466
|
|
|
3
|
|
|
243,098
|
|
|
—
|
|
|
—
|
|
Mississippi
|
1
|
|
|
52
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
50,575
|
|
|
—
|
|
|
—
|
|
Missouri
|
—
|
|
|
—
|
|
|
12
|
|
|
1,086
|
|
|
21
|
|
|
1,127,672
|
|
|
2
|
|
|
227
|
|
Montana
|
2
|
|
|
189
|
|
|
2
|
|
|
276
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Nebraska
|
1
|
|
|
135
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Nevada
|
6
|
|
|
611
|
|
|
2
|
|
|
174
|
|
|
2
|
|
|
149,248
|
|
|
1
|
|
|
52
|
|
New Hampshire
|
1
|
|
|
125
|
|
|
3
|
|
|
502
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
New Jersey
|
14
|
|
|
1,241
|
|
|
1
|
|
|
153
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
New Mexico
|
6
|
|
|
584
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
61
|
|
New York
|
42
|
|
|
4,684
|
|
|
9
|
|
|
1,566
|
|
|
1
|
|
|
111,634
|
|
|
—
|
|
|
—
|
|
North Carolina
|
22
|
|
|
2,179
|
|
|
17
|
|
|
1,876
|
|
|
21
|
|
|
877,515
|
|
|
1
|
|
|
124
|
|
North Dakota
|
1
|
|
|
48
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Ohio
|
26
|
|
|
1,753
|
|
|
20
|
|
|
2,624
|
|
|
29
|
|
|
1,286,803
|
|
|
1
|
|
|
50
|
|
Oklahoma
|
9
|
|
|
511
|
|
|
3
|
|
|
235
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
59
|
|
Oregon
|
20
|
|
|
2,212
|
|
|
14
|
|
|
1,112
|
|
|
1
|
|
|
105,375
|
|
|
—
|
|
|
—
|
|
Pennsylvania
|
31
|
|
|
2,319
|
|
|
7
|
|
|
934
|
|
|
7
|
|
|
564,634
|
|
|
2
|
|
|
115
|
|
Rhode Island
|
6
|
|
|
648
|
|
|
1
|
|
|
129
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
South Carolina
|
4
|
|
|
340
|
|
|
4
|
|
|
602
|
|
|
22
|
|
|
1,209,567
|
|
|
—
|
|
|
—
|
|
South Dakota
|
4
|
|
|
182
|
|
|
2
|
|
|
246
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Tennessee
|
18
|
|
|
1,463
|
|
|
5
|
|
|
601
|
|
|
11
|
|
|
438,735
|
|
|
1
|
|
|
49
|
|
Texas
|
58
|
|
|
4,942
|
|
|
51
|
|
|
5,375
|
|
|
17
|
|
|
1,128,762
|
|
|
10
|
|
|
615
|
|
Utah
|
3
|
|
|
393
|
|
|
5
|
|
|
476
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Vermont
|
—
|
|
|
—
|
|
|
1
|
|
|
144
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Virginia
|
8
|
|
|
655
|
|
|
9
|
|
|
1,323
|
|
|
3
|
|
|
126,500
|
|
|
—
|
|
|
—
|
|
Washington
|
19
|
|
|
1,981
|
|
|
19
|
|
|
1,859
|
|
|
11
|
|
|
586,975
|
|
|
—
|
|
|
—
|
|
West Virginia
|
2
|
|
|
124
|
|
|
4
|
|
|
326
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Wisconsin
|
68
|
|
|
2,932
|
|
|
17
|
|
|
1,968
|
|
|
12
|
|
|
482,093
|
|
|
—
|
|
|
—
|
|
Wyoming
|
2
|
|
|
168
|
|
|
4
|
|
|
371
|
|
|
1
|
|
|
80,630
|
|
|
—
|
|
|
—
|
|
Total U.S.
|
702
|
|
|
62,527
|
|
|
385
|
|
|
43,686
|
|
|
327
|
|
|
18,039,874
|
|
|
47
|
|
|
3,820
|
|
British Columbia
|
3
|
|
|
276
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Ontario
|
9
|
|
|
848
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total Canada
|
12
|
|
|
1,124
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
714
|
|
|
63,651
|
|
|
385
|
|
|
43,686
|
|
|
327
|
|
|
18,039,874
|
|
|
47
|
|
|
3,820
|
|
|
Number of Shares
Repurchased (1)
|
|
Average Price
Per Share
|
|||
October 1 through October 31
|
—
|
|
|
$
|
—
|
|
November 1 through November 30
|
610
|
|
|
$
|
61.18
|
|
December 1 through December 31
|
—
|
|
|
$
|
—
|
|
(1)
|
Repurchases represent shares withheld to pay taxes on the vesting of restricted stock or restricted stock units or on the exercise of options granted to employees under our 2006 Incentive Plan. The value of the shares withheld is the closing price of our common stock on the date the vesting occurred (or, if not a trading day, the immediately preceding trading day).
|
|
12/31/2008
|
|
12/31/2009
|
|
12/31/2010
|
|
12/31/2011
|
|
12/31/2012
|
|
12/31/2013
|
Ventas
|
$100
|
|
$138.88
|
|
$174.17
|
|
$191.19
|
|
$233.84
|
|
$215.97
|
NYSE Composite Index
|
$100
|
|
$128.95
|
|
$146.69
|
|
$141.46
|
|
$164.45
|
|
$207.85
|
Composite REIT Index
|
$100
|
|
$127.80
|
|
$163.03
|
|
$174.94
|
|
$209.45
|
|
$214.35
|
S&P 500 Index
|
$100
|
|
$126.45
|
|
$145.49
|
|
$148.55
|
|
$172.31
|
|
$228.10
|
|
As of and For the Years Ended December 31,
|
||||||||||||||||||
|
2013
|
|
2012
|
|
2011
|
|
2010
|
|
2009
|
||||||||||
|
(Dollars in thousands, except per share data)
|
||||||||||||||||||
Operating Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
1,325,984
|
|
|
$
|
1,178,849
|
|
|
$
|
793,802
|
|
|
$
|
517,652
|
|
|
$
|
475,000
|
|
Resident fees and services
|
1,406,005
|
|
|
1,227,124
|
|
|
865,800
|
|
|
445,157
|
|
|
421,058
|
|
|||||
Interest expense
|
334,484
|
|
|
288,276
|
|
|
223,804
|
|
|
169,981
|
|
|
170,232
|
|
|||||
Property-level operating expenses
|
1,109,632
|
|
|
966,422
|
|
|
645,082
|
|
|
314,985
|
|
|
302,813
|
|
|||||
General, administrative and professional fees
|
115,106
|
|
|
98,510
|
|
|
74,537
|
|
|
49,830
|
|
|
38,830
|
|
|||||
Income from continuing operations attributable to common stockholders
|
488,930
|
|
|
307,835
|
|
|
362,308
|
|
|
211,570
|
|
|
185,038
|
|
|||||
Discontinued operations
|
(35,421
|
)
|
|
54,965
|
|
|
2,185
|
|
|
34,597
|
|
|
81,457
|
|
|||||
Net income attributable to common stockholders
|
453,509
|
|
|
362,800
|
|
|
364,493
|
|
|
246,167
|
|
|
266,495
|
|
|||||
Per Share Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
1.67
|
|
|
$
|
1.05
|
|
|
$
|
1.59
|
|
|
$
|
1.35
|
|
|
$
|
1.22
|
|
Diluted
|
$
|
1.66
|
|
|
$
|
1.04
|
|
|
$
|
1.57
|
|
|
$
|
1.34
|
|
|
$
|
1.21
|
|
Net income attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
1.55
|
|
|
$
|
1.24
|
|
|
$
|
1.60
|
|
|
$
|
1.57
|
|
|
$
|
1.75
|
|
Diluted
|
$
|
1.54
|
|
|
$
|
1.23
|
|
|
$
|
1.58
|
|
|
$
|
1.56
|
|
|
$
|
1.74
|
|
Dividends declared per common share
|
$
|
2.735
|
|
|
$
|
2.48
|
|
|
$
|
2.30
|
|
|
$
|
2.14
|
|
|
$
|
2.05
|
|
Other Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Net cash provided by operating activities
|
$
|
1,194,755
|
|
|
$
|
992,816
|
|
|
$
|
773,197
|
|
|
$
|
447,622
|
|
|
$
|
422,101
|
|
Net cash used in investing activities
|
(1,282,760
|
)
|
|
(2,169,689
|
)
|
|
(997,439
|
)
|
|
(301,920
|
)
|
|
(1,746
|
)
|
|||||
Net cash provided by (used in) financing activities
|
114,996
|
|
|
1,198,914
|
|
|
248,282
|
|
|
(231,452
|
)
|
|
(490,180
|
)
|
|||||
FFO(1)
|
1,208,458
|
|
|
1,024,567
|
|
|
824,851
|
|
|
421,506
|
|
|
393,409
|
|
|||||
Normalized FFO(1)
|
1,220,709
|
|
|
1,120,225
|
|
|
776,963
|
|
|
453,981
|
|
|
409,045
|
|
|||||
Balance Sheet Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Real estate investments, at cost
|
$
|
21,403,592
|
|
|
$
|
19,745,607
|
|
|
$
|
17,830,262
|
|
|
$
|
6,747,699
|
|
|
$
|
6,399,421
|
|
Cash and cash equivalents
|
94,816
|
|
|
67,908
|
|
|
45,807
|
|
|
21,812
|
|
|
107,397
|
|
|||||
Total assets
|
19,731,494
|
|
|
18,980,000
|
|
|
17,271,910
|
|
|
5,758,021
|
|
|
5,616,245
|
|
|||||
Senior notes payable and other debt
|
9,364,992
|
|
|
8,413,646
|
|
|
6,429,116
|
|
|
2,900,044
|
|
|
2,670,101
|
|
(1)
|
We believe that net income, as defined by U.S. generally accepted accounting principles (“GAAP”), is the most appropriate earnings measurement. However, we consider Funds From Operations (“FFO”) and normalized FFO to be appropriate measures of operating performance of an equity REIT. We also believe that normalized FFO provides useful
|
•
|
Our company and the environment in which we operate;
|
•
|
Our
2013
highlights;
|
•
|
Our critical accounting policies and estimates;
|
•
|
Our results of operations for the last three years;
|
•
|
How we manage our assets and liabilities;
|
•
|
Our liquidity and capital resources;
|
•
|
Our cash flows; and
|
•
|
Our future contractual obligations.
|
•
|
We paid an annual cash dividend on our common stock of
$2.735
per share, which represents an increase of more than
10%
over the prior year.
|
•
|
We invested approximately
$1.8 billion
in seniors housing communities, MOBs and loans and other investments.
|
•
|
We invested approximately $96 million in redevelopment and development projects across each of our three segments.
|
•
|
We generated cash flows from operations of approximately
$1.2 billion
, which represents an increase of more than 20% over 2012.
|
•
|
We renewed, sold or transitioned to new operators all 89 licensed healthcare assets leased by Kindred whose lease terms expired during the second quarter of 2013, and we entered into favorable agreements with Kindred to extend the leases at a higher rental rate with respect to
48
of the
108
licensed healthcare assets whose lease terms were originally scheduled to expire on April 30, 2015 (the “2015 Renewal Assets”). See “Triple-Net Lease Expirations.”
|
•
|
We issued and sold
$1.6 billion
aggregate principal amount of senior notes having a weighted average interest rate of
3.3%
and a weighted average initial maturity of
13.6
years.
|
•
|
We entered into a new $3 billion unsecured credit facility, comprised of a $2 billion revolving credit facility initially priced at 100 basis points over LIBOR, and a $200 million four-year term loan and an $800 million five-year term loan, each initially priced at 105 basis points over LIBOR.
|
•
|
We established an “at-the-market” equity offering program through which we may sell up to an aggregate of
$750.0 million
of our common stock, and we issued and sold a total of
2,069,200
shares at an average price of
$69.42
per share for aggregate net proceeds of
$141.5 million
under the program.
|
•
|
We sold assets, including loans, and received final repayment on loans receivable for aggregate proceeds of approximately
$358 million
.
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease) to
Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI:
|
|
|
|
|
|
|
|
|||||||
Triple-Net Leased Properties
|
$
|
880,346
|
|
|
$
|
822,438
|
|
|
$
|
57,908
|
|
|
7.0
|
%
|
Senior Living Operations
|
449,321
|
|
|
386,102
|
|
|
63,219
|
|
|
16.4
|
|
|||
MOB Operations
|
300,921
|
|
|
241,869
|
|
|
59,052
|
|
|
24.4
|
|
|||
All Other
|
59,471
|
|
|
39,913
|
|
|
19,558
|
|
|
49.0
|
|
|||
Total segment NOI
|
1,690,059
|
|
|
1,490,322
|
|
|
199,737
|
|
|
13.4
|
|
|||
Interest and other income
|
2,047
|
|
|
1,106
|
|
|
941
|
|
|
85.1
|
|
|||
Interest expense
|
(334,484
|
)
|
|
(288,276
|
)
|
|
(46,208
|
)
|
|
(16.0
|
)
|
|||
Depreciation and amortization
|
(721,959
|
)
|
|
(714,505
|
)
|
|
(7,454
|
)
|
|
(1.0
|
)
|
|||
General, administrative and professional fees
|
(115,106
|
)
|
|
(98,510
|
)
|
|
(16,596
|
)
|
|
(16.8
|
)
|
|||
Loss on extinguishment of debt, net
|
(1,201
|
)
|
|
(37,640
|
)
|
|
36,439
|
|
|
96.8
|
|
|||
Merger-related expenses and deal costs
|
(21,634
|
)
|
|
(63,183
|
)
|
|
41,549
|
|
|
65.8
|
|
|||
Other
|
(18,732
|
)
|
|
(6,940
|
)
|
|
(11,792
|
)
|
|
( > 100 )
|
|
|||
Income before (loss) income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest
|
478,990
|
|
|
282,374
|
|
|
196,616
|
|
|
69.6
|
|
|||
(Loss) income from unconsolidated entities
|
(508
|
)
|
|
18,154
|
|
|
(18,662
|
)
|
|
( > 100 )
|
|
|||
Income tax benefit
|
11,828
|
|
|
6,282
|
|
|
5,546
|
|
|
88.3
|
|
|||
Income from continuing operations
|
490,310
|
|
|
306,810
|
|
|
183,500
|
|
|
59.8
|
|
|||
Discontinued operations
|
(35,421
|
)
|
|
54,965
|
|
|
(90,386
|
)
|
|
( > 100 )
|
|
|||
Net income
|
454,889
|
|
|
361,775
|
|
|
93,114
|
|
|
25.7
|
|
|||
Net income (loss) attributable to noncontrolling interest, net of tax
|
1,380
|
|
|
(1,025
|
)
|
|
(2,405
|
)
|
|
( > 100 )
|
|
|||
Net income attributable to common stockholders
|
$
|
453,509
|
|
|
$
|
362,800
|
|
|
90,709
|
|
|
25.0
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—Triple-Net Leased Properties:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
875,877
|
|
|
$
|
818,000
|
|
|
$
|
57,877
|
|
|
7.1
|
%
|
Other services revenue
|
4,469
|
|
|
4,438
|
|
|
31
|
|
|
0.7
|
|
|||
Segment NOI
|
$
|
880,346
|
|
|
$
|
822,438
|
|
|
57,908
|
|
|
7.0
|
|
|
Number of
Properties (1)
|
|
Average Occupancy
for the Trailing 12 Months
Ended September 30,
2013 (1)
|
|
|
Number of
Properties (1)
|
|
Average Occupancy
for the Trailing 12 Months
Ended September 30,
2012 (1)
|
||||
Seniors Housing Communities
|
448
|
|
|
86.7
|
%
|
|
|
409
|
|
|
86.0
|
%
|
Skilled Nursing Facilities
|
311
|
|
|
81.1
|
|
|
|
310
|
|
|
82.7
|
|
Hospitals
|
46
|
|
|
56.6
|
|
|
|
46
|
|
|
57.9
|
|
(1)
|
Excludes properties classified as held for sale, non-stabilized properties, properties included in investments in unconsolidated entities, and certain properties for which we do not receive occupancy information for all periods presented. Also excludes properties acquired during the three months ended December 31, 2013 and 2012, respectively.
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Same-Store Segment NOI—Triple-Net Leased Properties:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
829,670
|
|
|
$
|
812,570
|
|
|
$
|
17,100
|
|
|
2.1
|
%
|
Other services revenue
|
4,469
|
|
|
4,438
|
|
|
31
|
|
|
0.7
|
|
|||
Segment NOI
|
$
|
834,139
|
|
|
$
|
817,008
|
|
|
17,131
|
|
|
2.1
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—Senior Living Operations:
|
|
|
|
|
|
|
|
|||||||
Total revenues
|
$
|
1,406,005
|
|
|
$
|
1,227,124
|
|
|
$
|
178,881
|
|
|
14.6
|
%
|
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(956,684
|
)
|
|
(841,022
|
)
|
|
(115,662
|
)
|
|
(13.8
|
)
|
|||
Segment NOI
|
$
|
449,321
|
|
|
$
|
386,102
|
|
|
63,219
|
|
|
16.4
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Same-Store Segment NOI—Senior Living Operations:
|
|
|
|
|
|
|
|
|||||||
Total revenues
|
$
|
1,217,960
|
|
|
$
|
1,161,356
|
|
|
$
|
56,604
|
|
|
4.9
|
%
|
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(832,483
|
)
|
|
(796,231
|
)
|
|
(36,252
|
)
|
|
(4.6
|
)
|
|||
Segment NOI
|
$
|
385,477
|
|
|
$
|
365,125
|
|
|
20,352
|
|
|
5.6
|
|
|
Number of
Properties at
December 31,
|
|
Average Unit
Occupancy
for the Year
Ended
December 31,
|
|
Average Monthly Revenue Per Occupied Room for the Year
Ended
December 31,
|
||||||||||||||
|
2013 (1)
|
|
2012 (1)
|
|
2013 (1)
|
|
2012 (1)
|
|
2013 (1)
|
|
2012 (1)
|
||||||||
Total communities
|
239
|
|
|
222
|
|
|
91.1
|
%
|
|
89.9
|
%
|
|
$
|
5,476
|
|
|
$
|
5,401
|
|
Same-store communities
|
197
|
|
|
197
|
|
|
91.2
|
|
|
90.0
|
|
|
5,542
|
|
|
5,358
|
|
(1)
|
Information relates to the actual period of ownership and does not necessarily reflect a full year for various communities acquired throughout the period.
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—MOB Operations:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
450,107
|
|
|
$
|
360,849
|
|
|
$
|
89,258
|
|
|
24.7
|
%
|
Medical office building services revenue
|
12,077
|
|
|
16,303
|
|
|
(4,226
|
)
|
|
(25.9
|
)
|
|||
Total revenues
|
462,184
|
|
|
377,152
|
|
|
85,032
|
|
|
22.5
|
|
|||
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(152,948
|
)
|
|
(125,400
|
)
|
|
(27,548
|
)
|
|
(22.0
|
)
|
|||
Medical office building services costs
|
(8,315
|
)
|
|
(9,883
|
)
|
|
1,568
|
|
|
15.9
|
|
|||
Segment NOI
|
$
|
300,921
|
|
|
$
|
241,869
|
|
|
59,052
|
|
|
24.4
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Same-Store Segment NOI—MOB Operations:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
257,085
|
|
|
$
|
256,684
|
|
|
$
|
401
|
|
|
0.2
|
%
|
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(85,219
|
)
|
|
(86,890
|
)
|
|
1,671
|
|
|
1.9
|
|
|||
Segment NOI
|
$
|
171,866
|
|
|
$
|
169,794
|
|
|
2,072
|
|
|
1.2
|
|
|
Number of
Properties at
December 31,
|
|
Occupancy at
December 31,
|
|
Annualized Average Rent Per Occupied Square Foot for the Year Ended Ended December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||
Total MOBs
|
309
|
|
|
298
|
|
|
90.2
|
%
|
|
90.5
|
%
|
|
$29
|
|
$29
|
Same-store MOBs
|
184
|
|
|
184
|
|
|
88.8
|
|
|
89.6
|
|
|
30
|
|
30
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI:
|
|
|
|
|
|
|
|
|||||||
Triple-Net Leased Properties
|
$
|
822,438
|
|
|
$
|
629,940
|
|
|
$
|
192,498
|
|
|
30.6
|
%
|
Senior Living Operations
|
386,102
|
|
|
277,705
|
|
|
108,397
|
|
|
39.0
|
|
|||
MOB Operations
|
241,869
|
|
|
116,264
|
|
|
125,605
|
|
|
> 100
|
|
|||
All Other
|
39,913
|
|
|
34,415
|
|
|
5,498
|
|
|
16.0
|
|
|||
Total segment NOI
|
1,490,322
|
|
|
1,058,324
|
|
|
431,998
|
|
|
40.8
|
|
|||
Interest and other income
|
1,106
|
|
|
1,216
|
|
|
(110
|
)
|
|
(9.0
|
)
|
|||
Interest expense
|
(288,276
|
)
|
|
(223,804
|
)
|
|
(64,472
|
)
|
|
(28.8
|
)
|
|||
Depreciation and amortization
|
(714,505
|
)
|
|
(444,193
|
)
|
|
(270,312
|
)
|
|
(60.9
|
)
|
|||
General, administrative and professional fees
|
(98,510
|
)
|
|
(74,537
|
)
|
|
(23,973
|
)
|
|
(32.2
|
)
|
|||
Loss on extinguishment of debt, net
|
(37,640
|
)
|
|
(27,604
|
)
|
|
(10,036
|
)
|
|
(36.4
|
)
|
|||
Litigation proceeds, net
|
—
|
|
|
202,259
|
|
|
(202,259
|
)
|
|
(100.0
|
)
|
|||
Merger-related expenses and deal costs
|
(63,183
|
)
|
|
(153,923
|
)
|
|
90,740
|
|
|
59.0
|
|
|||
Other
|
(6,940
|
)
|
|
(7,270
|
)
|
|
330
|
|
|
4.5
|
|
|||
Income before income (loss) from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest
|
282,374
|
|
|
330,468
|
|
|
(48,094
|
)
|
|
(14.6
|
)
|
|||
Income (loss) from unconsolidated entities
|
18,154
|
|
|
(52
|
)
|
|
18,206
|
|
|
nm
|
|
|||
Income tax benefit
|
6,282
|
|
|
30,660
|
|
|
(24,378
|
)
|
|
(79.5
|
)
|
|||
Income from continuing operations
|
306,810
|
|
|
361,076
|
|
|
(54,266
|
)
|
|
(15.0
|
)
|
|||
Discontinued operations
|
54,965
|
|
|
2,185
|
|
|
52,780
|
|
|
nm
|
|
|||
Net income
|
361,775
|
|
|
363,261
|
|
|
(1,486
|
)
|
|
(0.4
|
)
|
|||
Net loss attributable to noncontrolling interest, net of tax
|
(1,025
|
)
|
|
(1,232
|
)
|
|
207
|
|
|
16.8
|
|
|||
Net income attributable to common stockholders
|
$
|
362,800
|
|
|
$
|
364,493
|
|
|
(1,693
|
)
|
|
(0.5
|
)
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—Triple-Net Leased Properties:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
818,000
|
|
|
$
|
627,723
|
|
|
$
|
190,277
|
|
|
30.3
|
%
|
Other services revenue
|
4,438
|
|
|
2,217
|
|
|
2,221
|
|
|
> 100
|
|
|||
Segment NOI
|
$
|
822,438
|
|
|
$
|
629,940
|
|
|
192,498
|
|
|
30.6
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Same-Store Segment NOI—Triple-Net Leased Properties:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
468,974
|
|
|
$
|
458,279
|
|
|
$
|
10,695
|
|
|
2.3
|
%
|
Other services revenue
|
—
|
|
|
—
|
|
|
—
|
|
|
nm
|
|
|||
Segment NOI
|
$
|
468,974
|
|
|
$
|
458,279
|
|
|
10,695
|
|
|
2.3
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—Senior Living Operations:
|
|
|
|
|
|
|
|
|||||||
Total revenues
|
$
|
1,227,124
|
|
|
$
|
865,800
|
|
|
$
|
361,324
|
|
|
41.7
|
%
|
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(841,022
|
)
|
|
(588,095
|
)
|
|
(252,927
|
)
|
|
(43.0
|
)
|
|||
Segment NOI
|
$
|
386,102
|
|
|
$
|
277,705
|
|
|
108,397
|
|
|
39.0
|
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Same-Store Segment NOI—Senior Living Operations:
|
|
|
|
|
|
|
|
|||||||
Total revenues
|
$
|
493,929
|
|
|
$
|
467,770
|
|
|
$
|
26,159
|
|
|
5.6
|
%
|
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(335,154
|
)
|
|
(310,808
|
)
|
|
(24,346
|
)
|
|
(7.8
|
)
|
|||
Segment NOI
|
$
|
158,775
|
|
|
$
|
156,962
|
|
|
$
|
1,813
|
|
|
1.2
|
|
|
Number of
Properties at
December 31,
|
|
Average Unit
Occupancy for
the Year
Ended
December 31,
|
|
Average
Monthly Revenue Per Occupied Room for
the Year
Ended
December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
||||
Total communities
|
222
|
|
|
197
|
|
|
89.9
|
%
|
|
87.6
|
%
|
|
$5,401
|
|
$5,447
|
Same-store communities
|
81
|
|
|
81
|
|
|
90.1
|
|
|
87.7
|
|
|
6,911
|
|
6,724
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Segment NOI—MOB Operations:
|
|
|
|
|
|
|
|
|||||||
Rental income
|
$
|
360,849
|
|
|
$
|
166,079
|
|
|
$
|
194,770
|
|
|
> 100 %
|
|
Medical office building services revenue
|
16,303
|
|
|
34,254
|
|
|
(17,951
|
)
|
|
(52.4
|
)
|
|||
Total revenues
|
377,152
|
|
|
200,333
|
|
|
176,819
|
|
|
88.3
|
|
|||
Less:
|
|
|
|
|
|
|
|
|||||||
Property-level operating expenses
|
(125,400
|
)
|
|
(56,987
|
)
|
|
(68,413
|
)
|
|
( > 100 )
|
|
|||
Medical office building services costs
|
(9,883
|
)
|
|
(27,082
|
)
|
|
17,199
|
|
|
63.5
|
|
|||
Segment NOI
|
$
|
241,869
|
|
|
$
|
116,264
|
|
|
125,605
|
|
|
> 100
|
|
|
Number of
Properties at
December 31,
|
|
Occupancy at
December 31,
|
|
Annualized Average Rent Per Occupied Square Foot for the Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
||||
Total MOBs
|
298
|
|
|
184
|
|
|
90.5
|
%
|
|
90.2
|
%
|
|
$30
|
|
$29
|
Same-store MOBs
|
69
|
|
|
69
|
|
|
90.4
|
|
|
91.1
|
|
|
28
|
|
27
|
|
For the Year Ended December 31,
|
||||||||||||||||||
|
2013
|
|
2012
|
|
2011
|
|
2010
|
|
2009
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net income attributable to common stockholders
|
$
|
453,509
|
|
|
$
|
362,800
|
|
|
$
|
364,493
|
|
|
$
|
246,167
|
|
|
$
|
266,495
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
||||||||||
Real estate depreciation and amortization
|
716,296
|
|
|
710,082
|
|
|
441,766
|
|
|
197,552
|
|
|
192,113
|
|
|||||
Real estate depreciation related to noncontrolling interest
|
(10,512
|
)
|
|
(8,503
|
)
|
|
(3,471
|
)
|
|
(6,217
|
)
|
|
(6,349
|
)
|
|||||
Real estate depreciation related to unconsolidated entities
|
6,543
|
|
|
7,516
|
|
|
6,552
|
|
|
2,367
|
|
|
—
|
|
|||||
Gain on re-measurement of equity interest upon acquisition, net
|
(1,241
|
)
|
|
(16,645
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Discontinued operations:
|
|
|
|
|
|
|
|
|
|
||||||||||
Gain on real estate dispositions, net
|
(4,059
|
)
|
|
(80,952
|
)
|
|
—
|
|
|
(25,241
|
)
|
|
(67,305
|
)
|
|||||
Depreciation on real estate assets
|
47,922
|
|
|
50,269
|
|
|
15,511
|
|
|
6,878
|
|
|
8,455
|
|
|||||
FFO
|
1,208,458
|
|
|
1,024,567
|
|
|
824,851
|
|
|
421,506
|
|
|
393,409
|
|
|||||
Adjustments:
|
|
|
|
|
|
|
|
|
|
||||||||||
Litigation proceeds, net
|
—
|
|
|
—
|
|
|
(202,259
|
)
|
|
—
|
|
|
—
|
|
|||||
Change in fair value of financial instruments
|
449
|
|
|
99
|
|
|
2,959
|
|
|
—
|
|
|
—
|
|
|||||
Income tax (benefit) expense
|
(11,828
|
)
|
|
(6,286
|
)
|
|
(31,137
|
)
|
|
2,930
|
|
|
(3,459
|
)
|
|||||
Loss on extinguishment of debt, net
|
1,048
|
|
|
37,640
|
|
|
27,604
|
|
|
9,791
|
|
|
6,080
|
|
|||||
Merger-related expenses and deal costs
|
21,560
|
|
|
63,183
|
|
|
153,923
|
|
|
19,243
|
|
|
13,015
|
|
|||||
Amortization of other intangibles
|
1,022
|
|
|
1,022
|
|
|
1,022
|
|
|
511
|
|
|
—
|
|
|||||
Normalized FFO
|
$
|
1,220,709
|
|
|
$
|
1,120,225
|
|
|
$
|
776,963
|
|
|
$
|
453,981
|
|
|
$
|
409,045
|
|
|
For the Year Ended December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Net income
|
$
|
454,889
|
|
|
$
|
361,775
|
|
|
$
|
363,261
|
|
Adjustments:
|
|
|
|
|
|
||||||
Interest
|
340,381
|
|
|
302,031
|
|
|
242,057
|
|
|||
Loss on extinguishment of debt, net
|
1,048
|
|
|
37,640
|
|
|
27,604
|
|
|||
Taxes (including amounts in general, administrative and professional fees)
|
(7,166
|
)
|
|
(2,627
|
)
|
|
(29,136
|
)
|
|||
Depreciation and amortization
|
769,881
|
|
|
764,774
|
|
|
459,704
|
|
|||
Non-cash stock-based compensation expense
|
20,653
|
|
|
20,784
|
|
|
19,346
|
|
|||
Merger-related expenses and deal costs
|
21,634
|
|
|
63,183
|
|
|
153,923
|
|
|||
Gain on real estate dispositions, net
|
(4,059
|
)
|
|
(80,952
|
)
|
|
—
|
|
|||
Litigation proceeds, net
|
—
|
|
|
—
|
|
|
(202,259
|
)
|
|||
Changes in fair value of financial instruments
|
449
|
|
|
99
|
|
|
2,959
|
|
|||
Gain on re-measurement of equity interest upon acquisition, net
|
(1,241
|
)
|
|
(16,645
|
)
|
|
—
|
|
|||
Adjusted EBITDA
|
$
|
1,596,469
|
|
|
$
|
1,450,062
|
|
|
$
|
1,037,459
|
|
|
For the Year Ended December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Net income
|
$
|
454,889
|
|
|
$
|
361,775
|
|
|
$
|
363,261
|
|
Adjustments:
|
|
|
|
|
|
||||||
Interest and other income
|
(2,047
|
)
|
|
(6,158
|
)
|
|
(1,217
|
)
|
|||
Interest
|
340,381
|
|
|
302,031
|
|
|
242,057
|
|
|||
Depreciation and amortization
|
769,881
|
|
|
764,774
|
|
|
459,704
|
|
|||
General, administrative and professional fees
|
115,109
|
|
|
98,813
|
|
|
74,537
|
|
|||
Loss on extinguishment of debt, net
|
1,048
|
|
|
37,640
|
|
|
27,604
|
|
|||
Litigation proceeds, net
|
—
|
|
|
—
|
|
|
(202,259
|
)
|
|||
Merger-related expenses and deal costs
|
21,634
|
|
|
63,183
|
|
|
153,923
|
|
|||
Other
|
18,325
|
|
|
8,842
|
|
|
8,653
|
|
|||
Loss (income) from unconsolidated entities
|
508
|
|
|
(18,154
|
)
|
|
52
|
|
|||
Income tax benefit
|
(11,828
|
)
|
|
(6,286
|
)
|
|
(31,137
|
)
|
|||
Gain on real estate dispositions, net
|
(3,617
|
)
|
|
(80,952
|
)
|
|
—
|
|
|||
NOI
|
1,704,283
|
|
|
1,525,508
|
|
|
1,095,178
|
|
|||
Discontinued operations
|
(14,224
|
)
|
|
(35,186
|
)
|
|
(36,854
|
)
|
|||
NOI (excluding amounts in discontinued operations)
|
$
|
1,690,059
|
|
|
$
|
1,490,322
|
|
|
$
|
1,058,324
|
|
|
As of December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2011
|
||||||
|
(Dollars in thousands)
|
||||||||||
Balance:
|
|
|
|
|
|
||||||
Fixed rate:
|
|
|
|
|
|
||||||
Senior notes and other
|
$
|
5,418,543
|
|
|
$
|
4,079,643
|
|
|
$
|
2,460,026
|
|
Mortgage loans and other (1) (2)
|
2,155,155
|
|
|
2,442,652
|
|
|
2,357,268
|
|
|||
Variable rate:
|
|
|
|
|
|
||||||
Unsecured revolving credit facilities
|
376,343
|
|
|
540,727
|
|
|
455,578
|
|
|||
Unsecured term loans
|
1,000,702
|
|
|
685,336
|
|
|
501,875
|
|
|||
Mortgage loans and other (1) (2)
|
369,734
|
|
|
437,957
|
|
|
405,696
|
|
|||
Total
|
$
|
9,320,477
|
|
|
$
|
8,186,315
|
|
|
$
|
6,180,443
|
|
Percent of total debt:
|
|
|
|
|
|
||||||
Fixed rate:
|
|
|
|
|
|
||||||
Senior notes and other
|
58.1
|
%
|
|
49.8
|
%
|
|
39.8
|
%
|
|||
Mortgage loans and other (1) (2)
|
23.2
|
|
|
29.8
|
|
|
38.1
|
|
|||
Variable rate:
|
|
|
|
|
|
||||||
Unsecured revolving credit facilities
|
4.0
|
|
|
6.6
|
|
|
7.4
|
|
|||
Unsecured term loans
|
10.7
|
|
|
8.4
|
|
|
8.1
|
|
|||
Mortgage loans and other (1) (2)
|
4.0
|
|
|
5.4
|
|
|
6.6
|
|
|||
Total
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|||
Weighted average interest rate at end of period:
|
|
|
|
|
|
||||||
Fixed rate:
|
|
|
|
|
|
||||||
Senior notes and other
|
3.7
|
%
|
|
4.0
|
%
|
|
5.3
|
%
|
|||
Mortgage loans and other (1) (2)
|
6.0
|
|
|
6.1
|
|
|
6.1
|
|
|||
Variable rate:
|
|
|
|
|
|
||||||
Unsecured revolving credit facilities
|
1.2
|
|
|
1.5
|
|
|
1.4
|
|
|||
Unsecured term loans
|
1.3
|
|
|
1.6
|
|
|
1.8
|
|
|||
Mortgage loans and other (1) (2)
|
1.7
|
|
|
1.9
|
|
|
2.0
|
|
|||
Total
|
3.8
|
|
|
4.1
|
|
|
4.8
|
|
(1)
|
Excludes debt related to real estate assets classified as held for sale as of
December 31, 2013
,
2012
and
2011
, respectively. The total mortgage debt for these properties as of
December 31, 2013
,
2012
and
2011
was
$13.1 million
,
$23.2 million
and
$14.6 million
, respectively, and is included in accounts payable and other liabilities on our Consolidated Balance Sheets.
|
(2)
|
Subsequent to
December 31, 2013
, we repaid in full approximately
$42.7 million
of the mortgage loans outstanding as of
December 31, 2013
.
|
|
As of December 31,
|
||||||
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Gross book value
|
$
|
7,573,698
|
|
|
$
|
6,522,295
|
|
Fair value(1)
|
7,690,196
|
|
|
6,936,849
|
|
||
Fair value reflecting change in interest rates:(1)
|
|
|
|
||||
-100 BPS
|
8,069,013
|
|
|
7,164,166
|
|
||
+100 BPS
|
7,320,251
|
|
|
6,559,949
|
|
(1)
|
The change in fair value of our fixed rate debt from
December 31, 2012
to
December 31, 2013
was due primarily to our senior note issuances in 2013, partially offset by the repayment of our senior notes due 2013 and certain mortgage loans during the year.
|
|
As of
December 31,
|
||||
|
2013
|
|
2012
|
||
Investment mix by asset type (1):
|
|
|
|
||
Seniors housing communities
|
64.2
|
%
|
|
61.2
|
%
|
MOBs
|
18.2
|
|
|
18.6
|
|
Skilled nursing and other facilities
|
13.6
|
|
|
14.8
|
|
Hospitals
|
2.3
|
|
|
2.3
|
|
Secured loans receivable and investments, net
|
1.7
|
|
|
3.1
|
|
Investment mix by tenant, operator and manager (1):
|
|
|
|
||
Atria
|
19.9
|
%
|
|
17.8
|
%
|
Sunrise
|
13.9
|
|
|
14.8
|
|
Brookdale Senior Living
|
9.7
|
|
|
10.4
|
|
Kindred
|
3.2
|
|
|
4.4
|
|
All other
|
53.3
|
|
|
52.6
|
|
(1)
|
Ratios are based on the gross book value of real estate investments (excluding assets classified as held for sale) as of each reporting date.
|
|
For the Year Ended
December 31,
|
|||||||
|
2013
|
|
2012
|
|
2011
|
|||
Operations mix by tenant and operator and business model:
|
|
|
|
|
|
|||
Revenues (1):
|
|
|
|
|
|
|||
Senior living operations (2)
|
50.2
|
%
|
|
49.8
|
%
|
|
50.0
|
%
|
Kindred
|
8.1
|
|
|
10.3
|
|
|
14.3
|
|
Brookdale Senior Living
|
5.6
|
|
|
6.3
|
|
|
7.7
|
|
All others
|
36.1
|
|
|
33.6
|
|
|
28.0
|
|
Adjusted EBITDA (3):
|
|
|
|
|
|
|||
Senior living operations (2)
|
27.1
|
%
|
|
26.0
|
%
|
|
26.0
|
%
|
Kindred
|
13.3
|
|
|
16.1
|
|
|
21.9
|
|
Brookdale Senior Living
|
9.4
|
|
|
10.9
|
|
|
13.0
|
|
All others
|
50.2
|
|
|
47.0
|
|
|
39.1
|
|
NOI (4):
|
|
|
|
|
|
|||
Senior living operations (2)
|
26.6
|
%
|
|
25.9
|
%
|
|
26.2
|
%
|
Kindred
|
13.4
|
|
|
17.1
|
|
|
23.4
|
|
Brookdale Senior Living
|
9.2
|
|
|
10.5
|
|
|
12.5
|
|
All others
|
50.8
|
|
|
46.5
|
|
|
37.9
|
|
Operations mix by geographic location (5):
|
|
|
|
|
|
|||
California
|
14.5
|
%
|
|
14.1
|
%
|
|
14.0
|
%
|
New York
|
10.0
|
|
|
10.0
|
|
|
8.9
|
|
Texas
|
6.8
|
|
|
6.0
|
|
|
5.0
|
|
Illinois
|
4.7
|
|
|
5.0
|
|
|
6.6
|
|
Florida
|
4.1
|
|
|
4.1
|
|
|
3.7
|
|
All others
|
44.8
|
|
|
60.8
|
|
|
61.8
|
|
(1)
|
Total revenues include medical office building and other services revenue, revenue from loans and investments and interest and other income (excluding amounts in discontinued operations).
|
(2)
|
Amounts relate to the actual period of ownership, and do not necessarily reflect a full year.
|
(3)
|
Includes amounts in discontinued operations.
|
(4)
|
Excludes amounts in discontinued operations.
|
(5)
|
Ratios are based on total revenues (excluding amounts in discontinued operations) for each period presented.
|
|
Number of
Properties
|
|
2013 Annual
Rental Income
|
|
% of 2013 Total
Triple-Net Leased Properties Segment Rental
Income
|
||||
|
(Dollars in thousands)
|
||||||||
2014
|
71
|
|
|
$
|
73,018
|
|
|
8.3
|
%
|
2015
|
40
|
|
|
24,475
|
|
|
2.8
|
|
|
2016
|
23
|
|
|
21,517
|
|
|
2.5
|
|
|
2017
|
44
|
|
|
25,546
|
|
|
2.9
|
|
|
2018
|
38
|
|
|
58,468
|
|
|
6.7
|
|
|
2019
|
75
|
|
|
117,026
|
|
|
13.4
|
|
|
2020
|
125
|
|
|
114,066
|
|
|
13.0
|
|
|
2021
|
80
|
|
|
68,900
|
|
|
7.9
|
|
|
2022
|
55
|
|
|
44,672
|
|
|
5.1
|
|
|
2023
|
45
|
|
|
60,296
|
|
|
6.9
|
|
•
|
$700.0 million
principal amount of 2.00% senior notes due 2018;
|
•
|
$600.0 million
principal amount of 4.00% senior notes due 2019;
|
•
|
$500.0 million
principal amount of 2.700% senior notes due 2020;
|
•
|
$700.0 million
principal amount of 4.750% senior notes due 2021;
|
•
|
$600.0 million
principal amount of 4.25% senior notes due 2022;
|
•
|
$500.0 million
principal amount of 3.25% senior notes due 2022:
|
•
|
$258.8 million
principal amount of 5.45% senior notes due 2043; and
|
•
|
$300.0 million
principal amount of 5.70% senior notes due 2043.
|
•
|
$234.4 million
principal amount of 6% senior notes due 2015;
|
•
|
$52.4 million
principal amount of 6.90% senior notes due 2037 (subject to earlier repayment at the option of the holder); and
|
•
|
$23.0 million
principal amount of 6.59% senior notes due 2038 (subject to earlier repayment at the option of the holder).
|
|
For the Year Ended
December 31,
|
|
Increase (Decrease)
to Cash
|
|||||||||||
|
2013
|
|
2012
|
|
$
|
|
%
|
|||||||
|
(Dollars in thousands)
|
|||||||||||||
Cash and cash equivalents at beginning of period
|
$
|
67,908
|
|
|
$
|
45,807
|
|
|
$
|
22,101
|
|
|
48.2
|
%
|
Net cash provided by operating activities
|
1,194,755
|
|
|
992,816
|
|
|
201,939
|
|
|
20.3
|
|
|||
Net cash used in investing activities
|
(1,282,760
|
)
|
|
(2,169,689
|
)
|
|
886,929
|
|
|
40.9
|
|
|||
Net cash provided by financing activities
|
114,996
|
|
|
1,198,914
|
|
|
(1,083,918
|
)
|
|
(90.4
|
)
|
|||
Effect of foreign currency translation on cash and cash equivalents
|
(83
|
)
|
|
60
|
|
|
(143
|
)
|
|
(238.3
|
)
|
|||
Cash and cash equivalents at end of period
|
$
|
94,816
|
|
|
$
|
67,908
|
|
|
26,908
|
|
|
39.6
|
|
|
Total
|
|
Less than 1
year
|
|
1 - 3 years (4)
|
|
3 - 5 years (5)
|
|
More than 5
years (6)
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Long-term debt obligations (1) (2) (3)
|
$
|
12,167,151
|
|
|
$
|
490,777
|
|
|
$
|
2,580,028
|
|
|
$
|
2,508,010
|
|
|
$
|
6,588,336
|
|
Operating obligations, including ground lease obligations
|
612,620
|
|
|
31,558
|
|
|
56,452
|
|
|
34,354
|
|
|
490,256
|
|
|||||
Total
|
$
|
12,779,771
|
|
|
$
|
522,335
|
|
|
$
|
2,636,480
|
|
|
$
|
2,542,364
|
|
|
$
|
7,078,592
|
|
(1)
|
Amounts represent contractual amounts due, including interest.
|
(2)
|
Interest on variable rate debt was based on forward rates obtained as of
December 31, 2013
.
|
(3)
|
Excludes
$13.1 million
of mortgage debt related to a real estate asset classified as held for sale as of
December 31, 2013
that is scheduled to mature in 2017.
|
(4)
|
Includes
$400.0 million
outstanding principal amount of our 3.125% senior notes due 2015,
$234.4 million
outstanding principal amount of our 6% senior notes due 2015 and
$550.0 million
outstanding principal amount of our 1.55% senior notes due 2016.
|
(5)
|
Includes
$376.3 million
of borrowings outstanding on our unsecured revolving credit facility,
$700.0 million
outstanding principal amount of our 2.00% senior notes due 2018 and
$200.0 million
of borrowings under our unsecured term loan due 2018.
|
(6)
|
Includes
$800.7 million
of borrowings under our unsecured term loan due 2019 and
$3.5 billion
aggregate principal amount outstanding of our senior notes maturing between 2019 and 2043.
$52.4 million
aggregate principal amount outstanding of our 6.90% senior notes due 2037 are subject to repurchase, at the option of the holders, on October 1 in each of 2017 and 2027, and
$23.0 million
aggregate principal amount outstanding of our 6.59% senior notes due 2038 are subject to repurchase, at the option of the holders, on July 7 in each of 2018, 2023 and 2028.
|
|
|
|
2013
|
|
2012
|
||||
|
(In thousands, except per
share amounts)
|
||||||
Assets
|
|
|
|
||||
Real estate investments:
|
|
|
|
||||
Land and improvements
|
$
|
1,855,968
|
|
|
$
|
1,772,417
|
|
Buildings and improvements
|
18,457,028
|
|
|
16,920,821
|
|
||
Construction in progress
|
80,415
|
|
|
70,665
|
|
||
Acquired lease intangibles
|
1,010,181
|
|
|
981,704
|
|
||
|
21,403,592
|
|
|
19,745,607
|
|
||
Accumulated depreciation and amortization
|
(3,328,006
|
)
|
|
(2,634,075
|
)
|
||
Net real estate property
|
18,075,586
|
|
|
17,111,532
|
|
||
Secured loans receivable and investments, net
|
376,229
|
|
|
635,002
|
|
||
Investments in unconsolidated entities
|
91,656
|
|
|
95,409
|
|
||
Net real estate investments
|
18,543,471
|
|
|
17,841,943
|
|
||
Cash and cash equivalents
|
94,816
|
|
|
67,908
|
|
||
Escrow deposits and restricted cash
|
84,657
|
|
|
105,913
|
|
||
Deferred financing costs, net
|
62,215
|
|
|
42,551
|
|
||
Other assets
|
946,335
|
|
|
921,685
|
|
||
Total assets
|
$
|
19,731,494
|
|
|
$
|
18,980,000
|
|
Liabilities and equity
|
|
|
|
||||
Liabilities:
|
|
|
|
||||
Senior notes payable and other debt
|
$
|
9,364,992
|
|
|
$
|
8,413,646
|
|
Accrued interest
|
54,349
|
|
|
47,565
|
|
||
Accounts payable and other liabilities
|
1,001,515
|
|
|
995,156
|
|
||
Deferred income taxes
|
250,167
|
|
|
259,715
|
|
||
Total liabilities
|
10,671,023
|
|
|
9,716,082
|
|
||
Redeemable OP unitholder and noncontrolling interests
|
156,660
|
|
|
174,555
|
|
||
Commitments and contingencies
|
|
|
|
||||
Equity:
|
|
|
|
||||
Ventas stockholders’ equity:
|
|
|
|
||||
Preferred stock, $1.00 par value; 10,000 shares authorized, unissued
|
—
|
|
|
—
|
|
||
Common stock, $0.25 par value; 600,000 shares authorized, 297,901 and 295,565 shares issued at December 31, 2013 and 2012, respectively
|
74,488
|
|
|
73,904
|
|
||
Capital in excess of par value
|
10,078,592
|
|
|
9,920,962
|
|
||
Accumulated other comprehensive income
|
19,659
|
|
|
23,354
|
|
||
Retained earnings (deficit)
|
(1,126,541
|
)
|
|
(777,927
|
)
|
||
Treasury stock, 3,712 and 3,699 shares at December 31, 2013 and 2012, respectively
|
(221,917
|
)
|
|
(221,165
|
)
|
||
Total Ventas stockholders’ equity
|
8,824,281
|
|
|
9,019,128
|
|
||
Noncontrolling interest
|
79,530
|
|
|
70,235
|
|
||
Total equity
|
8,903,811
|
|
|
9,089,363
|
|
||
Total liabilities and equity
|
$
|
19,731,494
|
|
|
$
|
18,980,000
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands, except per share
amounts)
|
||||||||||
Revenues:
|
|
|
|
|
|
||||||
Rental income:
|
|
|
|
|
|
||||||
Triple-net leased
|
$
|
875,877
|
|
|
$
|
818,000
|
|
|
$
|
627,723
|
|
Medical office buildings
|
450,107
|
|
|
360,849
|
|
|
166,079
|
|
|||
|
1,325,984
|
|
|
1,178,849
|
|
|
793,802
|
|
|||
Resident fees and services
|
1,406,005
|
|
|
1,227,124
|
|
|
865,800
|
|
|||
Medical office building and other services revenue
|
17,809
|
|
|
20,741
|
|
|
36,471
|
|
|||
Income from loans and investments
|
58,208
|
|
|
39,913
|
|
|
34,415
|
|
|||
Interest and other income
|
2,047
|
|
|
1,106
|
|
|
1,216
|
|
|||
Total revenues
|
2,810,053
|
|
|
2,467,733
|
|
|
1,731,704
|
|
|||
Expenses:
|
|
|
|
|
|
||||||
Interest
|
334,484
|
|
|
288,276
|
|
|
223,804
|
|
|||
Depreciation and amortization
|
721,959
|
|
|
714,505
|
|
|
444,193
|
|
|||
Property-level operating expenses:
|
|
|
|
|
|
||||||
Senior living
|
956,684
|
|
|
841,022
|
|
|
588,095
|
|
|||
Medical office buildings
|
152,948
|
|
|
125,400
|
|
|
56,987
|
|
|||
|
1,109,632
|
|
|
966,422
|
|
|
645,082
|
|
|||
Medical office building services costs
|
8,315
|
|
|
9,883
|
|
|
27,082
|
|
|||
General, administrative and professional fees
|
115,106
|
|
|
98,510
|
|
|
74,537
|
|
|||
Loss on extinguishment of debt, net
|
1,201
|
|
|
37,640
|
|
|
27,604
|
|
|||
Litigation proceeds, net
|
—
|
|
|
—
|
|
|
(202,259
|
)
|
|||
Merger-related expenses and deal costs
|
21,634
|
|
|
63,183
|
|
|
153,923
|
|
|||
Other
|
18,732
|
|
|
6,940
|
|
|
7,270
|
|
|||
Total expenses
|
2,331,063
|
|
|
2,185,359
|
|
|
1,401,236
|
|
|||
Income before (loss) income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest
|
478,990
|
|
|
282,374
|
|
|
330,468
|
|
|||
(Loss) income from unconsolidated entities
|
(508
|
)
|
|
18,154
|
|
|
(52
|
)
|
|||
Income tax benefit
|
11,828
|
|
|
6,282
|
|
|
30,660
|
|
|||
Income from continuing operations
|
490,310
|
|
|
306,810
|
|
|
361,076
|
|
|||
Discontinued operations
|
(35,421
|
)
|
|
54,965
|
|
|
2,185
|
|
|||
Net income
|
454,889
|
|
|
361,775
|
|
|
363,261
|
|
|||
Net income (loss) attributable to noncontrolling interest
|
1,380
|
|
|
(1,025
|
)
|
|
(1,232
|
)
|
|||
Net income attributable to common stockholders
|
$
|
453,509
|
|
|
$
|
362,800
|
|
|
$
|
364,493
|
|
Earnings per common share:
|
|
|
|
|
|
||||||
Basic:
|
|
|
|
|
|
||||||
Income from continuing operations attributable to common stockholders
|
$
|
1.67
|
|
|
$
|
1.05
|
|
|
$
|
1.59
|
|
Discontinued operations
|
(0.12
|
)
|
|
0.19
|
|
|
0.01
|
|
|||
Net income attributable to common stockholders
|
$
|
1.55
|
|
|
$
|
1.24
|
|
|
$
|
1.60
|
|
Diluted:
|
|
|
|
|
|
||||||
Income from continuing operations attributable to common stockholders
|
$
|
1.66
|
|
|
$
|
1.04
|
|
|
$
|
1.57
|
|
Discontinued operations
|
(0.12
|
)
|
|
0.19
|
|
|
0.01
|
|
|||
Net income attributable to common stockholders
|
$
|
1.54
|
|
|
$
|
1.23
|
|
|
$
|
1.58
|
|
Weighted average shares used in computing earnings per common share:
|
|
|
|
|
|
||||||
Basic
|
292,654
|
|
|
292,064
|
|
|
228,453
|
|
|||
Diluted
|
295,110
|
|
|
294,488
|
|
|
230,790
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
|
|
|
|
|
|
||||||
Net income
|
$
|
454,889
|
|
|
$
|
361,775
|
|
|
$
|
363,261
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
||||||
Foreign currency translation
|
(5,422
|
)
|
|
2,375
|
|
|
(1,944
|
)
|
|||
Change in unrealized gain on marketable debt securities
|
(1,023
|
)
|
|
(1,296
|
)
|
|
(2,691
|
)
|
|||
Other
|
2,750
|
|
|
213
|
|
|
(171
|
)
|
|||
Total other comprehensive (loss) income
|
(3,695
|
)
|
|
1,292
|
|
|
(4,806
|
)
|
|||
Comprehensive income
|
451,194
|
|
|
363,067
|
|
|
358,455
|
|
|||
Comprehensive income (loss) attributable to noncontrolling interest
|
1,380
|
|
|
(1,025
|
)
|
|
(1,232
|
)
|
|||
Comprehensive income attributable to common stockholders
|
$
|
449,814
|
|
|
$
|
364,092
|
|
|
$
|
359,687
|
|
|
Common
Stock Par
Value
|
|
Capital in
Excess of
Par Value
|
|
Accumulated
Other
Comprehensive
Income
|
|
Retained
Earnings
(Deficit)
|
|
Treasury
Stock
|
|
Total Ventas
Stockholders’
Equity
|
|
Non- controlling
Interest
|
|
Total Equity
|
||||||||||||||||
|
(In thousands, except per share amounts)
|
||||||||||||||||||||||||||||||
Balance at January 1, 2011
|
$
|
39,391
|
|
|
$
|
2,576,843
|
|
|
$
|
26,868
|
|
|
$
|
(255,628
|
)
|
|
$
|
(748
|
)
|
|
$
|
2,386,726
|
|
|
$
|
3,479
|
|
|
$
|
2,390,205
|
|
Net income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
364,493
|
|
|
—
|
|
|
364,493
|
|
|
(1,232
|
)
|
|
363,261
|
|
||||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
(4,806
|
)
|
|
—
|
|
|
—
|
|
|
(4,806
|
)
|
|
—
|
|
|
(4,806
|
)
|
||||||||
Acquisition-related activity
|
31,181
|
|
|
6,711,081
|
|
|
—
|
|
|
—
|
|
|
(4,326
|
)
|
|
6,737,936
|
|
|
81,192
|
|
|
6,819,128
|
|
||||||||
Net change in noncontrolling interest
|
—
|
|
|
(3,188
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,188
|
)
|
|
(2,452
|
)
|
|
(5,640
|
)
|
||||||||
Dividends to common stockholders—$2.30 per share
|
—
|
|
|
—
|
|
|
—
|
|
|
(521,046
|
)
|
|
—
|
|
|
(521,046
|
)
|
|
—
|
|
|
(521,046
|
)
|
||||||||
Issuance of common stock
|
1,627
|
|
|
297,931
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
299,558
|
|
|
—
|
|
|
299,558
|
|
||||||||
Issuance of common stock for stock plans
|
9
|
|
|
18,999
|
|
|
—
|
|
|
—
|
|
|
3,293
|
|
|
22,301
|
|
|
—
|
|
|
22,301
|
|
||||||||
Adjust redeemable OP unitholder interests to current fair value
|
—
|
|
|
(4,442
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,442
|
)
|
|
—
|
|
|
(4,442
|
)
|
||||||||
Purchase of OP units
|
—
|
|
|
(52
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(52
|
)
|
|
—
|
|
|
(52
|
)
|
||||||||
Grant of restricted stock, net of forfeitures
|
32
|
|
|
(3,589
|
)
|
|
—
|
|
|
—
|
|
|
1,034
|
|
|
(2,523
|
)
|
|
—
|
|
|
(2,523
|
)
|
||||||||
Balance at December 31, 2011
|
72,240
|
|
|
9,593,583
|
|
|
22,062
|
|
|
(412,181
|
)
|
|
(747
|
)
|
|
9,274,957
|
|
|
80,987
|
|
|
9,355,944
|
|
||||||||
Net income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
362,800
|
|
|
—
|
|
|
362,800
|
|
|
(1,025
|
)
|
|
361,775
|
|
||||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
1,292
|
|
|
—
|
|
|
—
|
|
|
1,292
|
|
|
—
|
|
|
1,292
|
|
||||||||
Acquisition-related activity
|
—
|
|
|
(8,571
|
)
|
|
—
|
|
|
—
|
|
|
(221,076
|
)
|
|
(229,647
|
)
|
|
(9,429
|
)
|
|
(239,076
|
)
|
||||||||
Net change in noncontrolling interest
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5,194
|
)
|
|
(5,194
|
)
|
||||||||
Dividends to common stockholders—$2.48 per share
|
—
|
|
|
—
|
|
|
—
|
|
|
(728,546
|
)
|
|
—
|
|
|
(728,546
|
)
|
|
—
|
|
|
(728,546
|
)
|
||||||||
Issuance of common stock
|
1,495
|
|
|
340,974
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
342,469
|
|
|
—
|
|
|
342,469
|
|
||||||||
Issuance of common stock for stock plans
|
128
|
|
|
22,126
|
|
|
—
|
|
|
—
|
|
|
2,841
|
|
|
25,095
|
|
|
—
|
|
|
25,095
|
|
||||||||
Change in redeemable noncontrolling interest
|
—
|
|
|
(17,317
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17,317
|
)
|
|
4,896
|
|
|
(12,421
|
)
|
||||||||
Adjust redeemable OP unitholder interests to current fair value
|
—
|
|
|
(19,819
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(19,819
|
)
|
|
—
|
|
|
(19,819
|
)
|
||||||||
Purchase of OP units
|
3
|
|
|
(1,651
|
)
|
|
—
|
|
|
—
|
|
|
324
|
|
|
(1,324
|
)
|
|
—
|
|
|
(1,324
|
)
|
||||||||
Grant of restricted stock, net of forfeitures
|
38
|
|
|
11,637
|
|
|
—
|
|
|
—
|
|
|
(2,507
|
)
|
|
9,168
|
|
|
—
|
|
|
9,168
|
|
||||||||
Balance at December 31, 2012
|
73,904
|
|
|
9,920,962
|
|
|
23,354
|
|
|
(777,927
|
)
|
|
(221,165
|
)
|
|
9,019,128
|
|
|
70,235
|
|
|
9,089,363
|
|
||||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
453,509
|
|
|
—
|
|
|
453,509
|
|
|
1,380
|
|
|
454,889
|
|
||||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
(3,695
|
)
|
|
—
|
|
|
—
|
|
|
(3,695
|
)
|
|
—
|
|
|
(3,695
|
)
|
||||||||
Acquisition-related activity
|
—
|
|
|
(762
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(762
|
)
|
|
12,717
|
|
|
11,955
|
|
||||||||
Net change in noncontrolling interest
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8,202
|
)
|
|
(8,202
|
)
|
||||||||
Dividends to common stockholders—$2.735 per share
|
—
|
|
|
—
|
|
|
—
|
|
|
(802,123
|
)
|
|
—
|
|
|
(802,123
|
)
|
|
—
|
|
|
(802,123
|
)
|
||||||||
Issuance of common stock
|
517
|
|
|
140,826
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
141,343
|
|
|
—
|
|
|
141,343
|
|
||||||||
Issuance of common stock for stock plans
|
19
|
|
|
5,983
|
|
|
—
|
|
|
—
|
|
|
6,638
|
|
|
12,640
|
|
|
—
|
|
|
12,640
|
|
||||||||
Change in redeemable noncontrolling interest
|
—
|
|
|
(13,751
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(13,751
|
)
|
|
3,400
|
|
|
(10,351
|
)
|
||||||||
Adjust redeemable OP unitholder interests to current fair value
|
—
|
|
|
8,683
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,683
|
|
|
—
|
|
|
8,683
|
|
||||||||
Purchase of OP units
|
—
|
|
|
(579
|
)
|
|
—
|
|
|
—
|
|
|
502
|
|
|
(77
|
)
|
|
—
|
|
|
(77
|
)
|
||||||||
Grant of restricted stock, net of forfeitures
|
48
|
|
|
17,230
|
|
|
—
|
|
|
—
|
|
|
(7,892
|
)
|
|
9,386
|
|
|
—
|
|
|
9,386
|
|
||||||||
Balance at December 31, 2013
|
$
|
74,488
|
|
|
$
|
10,078,592
|
|
|
$
|
19,659
|
|
|
$
|
(1,126,541
|
)
|
|
$
|
(221,917
|
)
|
|
$
|
8,824,281
|
|
|
$
|
79,530
|
|
|
$
|
8,903,811
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
$
|
454,889
|
|
|
$
|
361,775
|
|
|
$
|
363,261
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization (including amounts in discontinued operations)
|
769,881
|
|
|
764,775
|
|
|
459,704
|
|
|||
Amortization of deferred revenue and lease intangibles, net
|
(15,793
|
)
|
|
(17,118
|
)
|
|
(12,159
|
)
|
|||
Other non-cash amortization
|
(16,745
|
)
|
|
(39,943
|
)
|
|
(13,163
|
)
|
|||
Stock-based compensation
|
20,653
|
|
|
20,784
|
|
|
19,346
|
|
|||
Straight-lining of rental income, net
|
(30,540
|
)
|
|
(24,042
|
)
|
|
(14,885
|
)
|
|||
Loss on extinguishment of debt, net
|
1,048
|
|
|
37,640
|
|
|
27,604
|
|
|||
Gain on real estate dispositions, net (including amounts in discontinued operations)
|
(3,617
|
)
|
|
(80,952
|
)
|
|
—
|
|
|||
Gain on real estate loan investments
|
(5,056
|
)
|
|
(5,230
|
)
|
|
(3,255
|
)
|
|||
Gain on sale of marketable securities
|
(856
|
)
|
|
—
|
|
|
(733
|
)
|
|||
Income tax benefit (including amounts in discontinued operations)
|
(11,828
|
)
|
|
(6,286
|
)
|
|
(31,137
|
)
|
|||
Loss (income) from unconsolidated entities
|
1,748
|
|
|
(1,509
|
)
|
|
52
|
|
|||
Gain on re-measurement of equity interest upon acquisition, net
|
(1,241
|
)
|
|
(16,645
|
)
|
|
—
|
|
|||
Other
|
8,407
|
|
|
10,414
|
|
|
7,405
|
|
|||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||||||
(Increase) decrease in other assets
|
(690
|
)
|
|
3,756
|
|
|
424
|
|
|||
Increase (decrease) in accrued interest
|
6,806
|
|
|
9,969
|
|
|
(9,150
|
)
|
|||
Decrease (increase) in accounts payable and other liabilities
|
17,689
|
|
|
(24,572
|
)
|
|
(20,117
|
)
|
|||
Net cash provided by operating activities
|
1,194,755
|
|
|
992,816
|
|
|
773,197
|
|
|||
Cash flows from investing activities:
|
|
|
|
|
|
||||||
Net investment in real estate property
|
(1,437,002
|
)
|
|
(1,453,065
|
)
|
|
(531,605
|
)
|
|||
Purchase of private investment funds
|
—
|
|
|
(276,419
|
)
|
|
—
|
|
|||
Purchase of noncontrolling interest
|
(14,331
|
)
|
|
(3,934
|
)
|
|
(3,319
|
)
|
|||
Investment in loans receivable and other
|
(37,963
|
)
|
|
(452,558
|
)
|
|
(628,133
|
)
|
|||
Proceeds from real estate disposals
|
35,591
|
|
|
149,045
|
|
|
20,618
|
|
|||
Proceeds from loans receivable
|
325,518
|
|
|
43,219
|
|
|
220,179
|
|
|||
Proceeds from sale or maturity of marketable securities
|
5,493
|
|
|
37,500
|
|
|
23,050
|
|
|||
Funds held in escrow for future development expenditures
|
19,458
|
|
|
(28,050
|
)
|
|
—
|
|
|||
Development project expenditures
|
(95,741
|
)
|
|
(114,002
|
)
|
|
(47,591
|
)
|
|||
Capital expenditures
|
(81,614
|
)
|
|
(69,430
|
)
|
|
(50,473
|
)
|
|||
Other
|
(2,169
|
)
|
|
(1,995
|
)
|
|
(165
|
)
|
|||
Net cash used in investing activities
|
(1,282,760
|
)
|
|
(2,169,689
|
)
|
|
(997,439
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Net change in borrowings under credit facilities
|
(164,029
|
)
|
|
84,938
|
|
|
537,452
|
|
|||
Proceeds from debt
|
2,767,546
|
|
|
2,710,405
|
|
|
1,343,640
|
|
|||
Repayment of debt
|
(1,792,492
|
)
|
|
(1,193,023
|
)
|
|
(1,388,962
|
)
|
|||
Payment of deferred financing costs
|
(31,277
|
)
|
|
(23,770
|
)
|
|
(20,040
|
)
|
|||
Issuance of common stock, net
|
141,343
|
|
|
342,469
|
|
|
299,847
|
|
|||
Cash distribution to common stockholders
|
(802,123
|
)
|
|
(728,546
|
)
|
|
(521,046
|
)
|
|||
Cash distribution to redeemable OP unitholders
|
(5,040
|
)
|
|
(4,446
|
)
|
|
(2,359
|
)
|
|||
Purchases of redeemable OP units
|
(659
|
)
|
|
(4,601
|
)
|
|
(185
|
)
|
|||
Contributions from noncontrolling interest
|
2,395
|
|
|
38
|
|
|
2
|
|
|||
Distributions to noncontrolling interest
|
(9,286
|
)
|
|
(5,215
|
)
|
|
(2,556
|
)
|
|||
Other
|
8,618
|
|
|
20,665
|
|
|
2,489
|
|
|||
Net cash provided by financing activities
|
114,996
|
|
|
1,198,914
|
|
|
248,282
|
|
|||
Net increase in cash and cash equivalents
|
26,991
|
|
|
22,041
|
|
|
24,040
|
|
|||
Effect of foreign currency translation on cash and cash equivalents
|
(83
|
)
|
|
60
|
|
|
(45
|
)
|
|||
Cash and cash equivalents at beginning of period
|
67,908
|
|
|
45,807
|
|
|
21,812
|
|
|||
Cash and cash equivalents at end of period
|
$
|
94,816
|
|
|
$
|
67,908
|
|
|
$
|
45,807
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
||||||
Interest paid including swap payments and receipts
|
$
|
338,311
|
|
|
$
|
329,655
|
|
|
$
|
257,175
|
|
Supplemental schedule of non-cash activities:
|
|
|
|
|
|
||||||
Assets and liabilities assumed from acquisitions:
|
|
|
|
|
|
||||||
Real estate investments
|
$
|
223,955
|
|
|
$
|
582,694
|
|
|
$
|
10,973,093
|
|
Utilization of funds held for an Internal Revenue Code Section 1031 exchange
|
—
|
|
|
(134,003
|
)
|
|
—
|
|
|||
Other assets acquired
|
6,635
|
|
|
77,730
|
|
|
594,176
|
|
|||
Debt assumed
|
183,848
|
|
|
412,825
|
|
|
3,651,089
|
|
|||
Other liabilities
|
29,868
|
|
|
70,391
|
|
|
952,279
|
|
|||
Deferred income tax liability
|
5,181
|
|
|
4,299
|
|
|
43,889
|
|
|||
Redeemable OP unitholder interests
|
—
|
|
|
—
|
|
|
100,888
|
|
|||
Noncontrolling interests
|
11,693
|
|
|
34,580
|
|
|
81,192
|
|
|||
Equity issued
|
—
|
|
|
4,326
|
|
|
6,737,932
|
|
|||
Debt transferred on the sale of assets
|
—
|
|
|
14,535
|
|
|
—
|
|
•
|
Cash and cash equivalents -
The carrying amount of unrestricted cash and cash equivalents reported on our Consolidated Balance Sheets approximates fair value due to the short maturity of these instruments.
|
•
|
Loans receivable -
We estimate the fair value of loans receivable using level two and level three inputs: we discount future cash flows using current interest rates at which similar loans on the same terms and having the same maturities would be made to borrowers with similar credit ratings. Additionally, we determine the valuation allowance for losses, if any, on loans receivable using level three inputs.
|
•
|
Marketable debt securities -
Whenever possible, we estimate the fair value of marketable debt securities using level two inputs: we observe quoted prices for similar assets or liabilities in active markets that we have the ability to access. In other cases, we estimate the fair value of marketable debt securities using level three inputs: we consider credit spreads, underlying asset performance and credit quality, default rates and any other applicable criteria.
|
•
|
Derivative instruments -
With the assistance of a third party, we estimate the fair value of derivative instruments, including interest rate caps and interest rate swaps, using level two inputs: for interest rate caps, we observe
|
•
|
Senior notes payable and other debt -
We estimate the fair value of senior notes payable and other debt using level two inputs: we discount the future cash flows using current interest rates at which we could obtain similar borrowings.
|
•
|
Redeemable OP unitholder interests -
We estimate the fair value of our redeemable OP unitholder interests using level two inputs: we base fair value on the closing price of our common stock, as units may be redeemed at the election of the holder for cash or, at our option,
0.7866
shares of our common stock per unit, subject to adjustment in certain circumstances.
|
|
Brookdale
Senior
Living
|
|
Kindred
|
|
Other
|
|
Total
|
||||||||
|
(In thousands)
|
||||||||||||||
2014
|
$
|
153,861
|
|
|
$
|
208,883
|
|
|
$
|
870,991
|
|
|
$
|
1,233,735
|
|
2015
|
137,037
|
|
|
176,484
|
|
|
845,247
|
|
|
1,158,768
|
|
||||
2016
|
135,267
|
|
|
178,383
|
|
|
795,119
|
|
|
1,108,769
|
|
||||
2017
|
135,267
|
|
|
180,331
|
|
|
734,990
|
|
|
1,050,588
|
|
||||
2018
|
135,267
|
|
|
146,025
|
|
|
697,882
|
|
|
979,174
|
|
||||
Thereafter
|
164,725
|
|
|
616,588
|
|
|
4,371,185
|
|
|
5,152,498
|
|
||||
Total
|
$
|
861,424
|
|
|
$
|
1,506,694
|
|
|
$
|
8,315,414
|
|
|
$
|
10,683,532
|
|
|
Triple-Net Leased Properties
|
|
Senior Living Operations (1)
|
|
MOB Operations
|
|
Total
|
||||||||
|
(In thousands)
|
||||||||||||||
Land and improvements
|
$
|
51,419
|
|
|
$
|
45,566
|
|
|
$
|
3,923
|
|
|
$
|
100,908
|
|
Buildings and improvements
|
803,227
|
|
|
579,577
|
|
|
138,792
|
|
|
1,521,596
|
|
||||
Acquired lease intangibles
|
8,945
|
|
|
16,920
|
|
|
10,362
|
|
|
36,227
|
|
||||
Other assets
|
3,285
|
|
|
2,607
|
|
|
2,453
|
|
|
8,345
|
|
||||
Total assets acquired
|
866,876
|
|
|
644,670
|
|
|
155,530
|
|
|
1,667,076
|
|
||||
Notes payable and other debt
|
36,300
|
|
|
5,136
|
|
|
—
|
|
|
41,436
|
|
||||
Other liabilities
|
11,423
|
|
|
12,285
|
|
|
6,510
|
|
|
30,218
|
|
||||
Total liabilities assumed
|
47,723
|
|
|
17,421
|
|
|
6,510
|
|
|
71,654
|
|
||||
Noncontrolling interest assumed
|
10,113
|
|
|
—
|
|
|
1,672
|
|
|
11,785
|
|
||||
Net assets acquired
|
809,040
|
|
|
627,249
|
|
|
147,348
|
|
|
1,583,637
|
|
||||
Cash acquired
|
753
|
|
|
—
|
|
|
1,397
|
|
|
2,150
|
|
||||
Total cash used
|
$
|
808,287
|
|
|
$
|
627,249
|
|
|
$
|
145,951
|
|
|
$
|
1,581,487
|
|
|
Triple-Net Leased Properties
|
|
Senior Living Operations
|
|
MOB Operations (1)
|
|
Total
|
||||||||
|
(In thousands)
|
||||||||||||||
Land and improvements
|
$
|
21,881
|
|
|
$
|
60,662
|
|
|
$
|
112,504
|
|
|
$
|
195,047
|
|
Buildings and improvements
|
225,950
|
|
|
413,750
|
|
|
1,085,148
|
|
|
1,724,848
|
|
||||
Construction in progress
|
—
|
|
|
—
|
|
|
25,579
|
|
|
25,579
|
|
||||
Acquired lease intangibles
|
2,323
|
|
|
18,070
|
|
|
182,406
|
|
|
202,799
|
|
||||
Other assets
|
1,519
|
|
|
832
|
|
|
43,747
|
|
|
46,098
|
|
||||
Total assets acquired
|
251,673
|
|
|
493,314
|
|
|
1,449,384
|
|
|
2,194,371
|
|
||||
Notes payable and other debt
|
57,219
|
|
|
—
|
|
|
355,606
|
|
|
412,825
|
|
||||
Other liabilities
|
13,851
|
|
|
11,806
|
|
|
106,367
|
|
|
132,024
|
|
||||
Total liabilities assumed
|
71,070
|
|
|
11,806
|
|
|
461,973
|
|
|
544,849
|
|
||||
Noncontrolling interest assumed
|
7,292
|
|
|
—
|
|
|
30,361
|
|
|
37,653
|
|
||||
Net assets acquired
|
173,311
|
|
|
481,508
|
|
|
957,050
|
|
|
1,611,869
|
|
||||
Cash acquired
|
1,250
|
|
|
—
|
|
|
24,115
|
|
|
25,365
|
|
||||
Total cash used
|
$
|
172,061
|
|
|
$
|
481,508
|
|
|
$
|
932,935
|
|
|
$
|
1,586,504
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Revenues:
|
|
|
|
|
|
||||||
Rental income
|
$
|
15,459
|
|
|
$
|
36,722
|
|
|
$
|
35,849
|
|
Resident fees and services
|
759
|
|
|
6,435
|
|
|
7,508
|
|
|||
Interest and other income
|
—
|
|
|
5,052
|
|
|
1
|
|
|||
|
16,218
|
|
|
48,209
|
|
|
43,358
|
|
|||
Expenses:
|
|
|
|
|
|
||||||
Interest
|
5,897
|
|
|
13,755
|
|
|
18,253
|
|
|||
Depreciation and amortization
|
47,922
|
|
|
50,269
|
|
|
15,511
|
|
|||
Property-level operating expenses
|
1,994
|
|
|
7,971
|
|
|
6,503
|
|
|||
General, administrative and professional fees
|
3
|
|
|
303
|
|
|
—
|
|
|||
Gain on extinguishment of debt, net
|
(153
|
)
|
|
—
|
|
|
—
|
|
|||
Other
|
(407
|
)
|
|
1,902
|
|
|
1,383
|
|
|||
|
55,256
|
|
|
74,200
|
|
|
41,650
|
|
|||
(Loss) income before income taxes and gain on real estate dispositions, net
|
(39,038
|
)
|
|
(25,991
|
)
|
|
1,708
|
|
|||
Income tax benefit
|
—
|
|
|
4
|
|
|
477
|
|
|||
Gain on real estate dispositions, net
|
3,617
|
|
|
80,952
|
|
|
—
|
|
|||
Discontinued operations
|
$
|
(35,421
|
)
|
|
$
|
54,965
|
|
|
$
|
2,185
|
|
|
December 31, 2013
|
|
December 31, 2012
|
||||||||
|
Balance
|
|
Remaining
Weighted Average
Amortization
Period in Years
|
|
Balance
|
|
Remaining
Weighted Average
Amortization
Period in Years
|
||||
|
(Dollars in thousands)
|
||||||||||
Intangible assets:
|
|
|
|
|
|
|
|
||||
Above market lease intangibles
|
$
|
214,353
|
|
|
8.4
|
|
$
|
215,367
|
|
|
9.5
|
In-place and other lease intangibles
|
795,829
|
|
|
24.1
|
|
766,337
|
|
|
23.3
|
||
Goodwill and other intangibles
|
489,346
|
|
|
8.6
|
|
523,830
|
|
|
8.6
|
||
Accumulated amortization
|
(458,919
|
)
|
|
N/A
|
|
(352,692
|
)
|
|
N/A
|
||
Net intangible assets
|
$
|
1,040,609
|
|
|
19.8
|
|
$
|
1,152,842
|
|
|
19.3
|
Intangible liabilities:
|
|
|
|
|
|
|
|
||||
Below market lease intangibles
|
$
|
429,199
|
|
|
14.7
|
|
$
|
429,907
|
|
|
15.3
|
Other lease intangibles
|
32,103
|
|
|
24.8
|
|
28,966
|
|
|
15.8
|
||
Accumulated amortization
|
(119,549
|
)
|
|
N/A
|
|
(78,560
|
)
|
|
N/A
|
||
Purchase option intangibles
|
29,294
|
|
|
N/A
|
|
36,048
|
|
|
N/A
|
||
Net intangible liabilities
|
$
|
371,047
|
|
|
15.1
|
|
$
|
416,361
|
|
|
15.3
|
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Straight-line rent receivables, net
|
$
|
150,829
|
|
|
$
|
120,325
|
|
Unsecured loans receivable, net
|
38,512
|
|
|
62,118
|
|
||
Goodwill and other intangibles, net
|
476,483
|
|
|
515,429
|
|
||
Assets held for sale
|
155,340
|
|
|
111,556
|
|
||
Other
|
125,171
|
|
|
112,257
|
|
||
Total other assets
|
$
|
946,335
|
|
|
$
|
921,685
|
|
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Unsecured revolving credit facilities
|
$
|
376,343
|
|
|
$
|
540,727
|
|
6.25% Senior Notes due 2013
|
—
|
|
|
269,850
|
|
||
Unsecured term loan due 2015 (1)
|
—
|
|
|
130,336
|
|
||
3.125% Senior Notes due 2015
|
400,000
|
|
|
400,000
|
|
||
6% Senior Notes due 2015
|
234,420
|
|
|
234,420
|
|
||
1.55% Senior Notes due 2016
|
550,000
|
|
|
—
|
|
||
Unsecured term loan due 2017 (1)
|
—
|
|
|
375,000
|
|
||
Unsecured term loan due 2018
|
—
|
|
|
180,000
|
|
||
2.00% Senior Notes due 2018
|
700,000
|
|
|
700,000
|
|
||
Unsecured term loan due 2018 (2)
|
200,000
|
|
|
—
|
|
||
Unsecured term loan due 2019 (2)
|
800,702
|
|
|
—
|
|
||
4.00% Senior Notes due 2019
|
600,000
|
|
|
600,000
|
|
||
2.700% Senior Notes due 2020
|
500,000
|
|
|
—
|
|
||
4.750% Senior Notes due 2021
|
700,000
|
|
|
700,000
|
|
||
4.25% Senior Notes due 2022
|
600,000
|
|
|
600,000
|
|
||
3.25% Senior Notes due 2022
|
500,000
|
|
|
500,000
|
|
||
6.90% Senior Notes due 2037
|
52,400
|
|
|
52,400
|
|
||
6.59% Senior Notes due 2038
|
22,973
|
|
|
22,973
|
|
||
5.45% Senior Notes due 2043
|
258,750
|
|
|
—
|
|
||
5.70% Senior Notes due 2043
|
300,000
|
|
|
—
|
|
||
Mortgage loans and other (3) (4)
|
2,524,889
|
|
|
2,880,609
|
|
||
Total
|
9,320,477
|
|
|
8,186,315
|
|
||
Capital lease obligations
|
—
|
|
|
142,412
|
|
||
Unamortized fair value adjustment
|
69,611
|
|
|
111,623
|
|
||
Unamortized discounts
|
(25,096
|
)
|
|
(26,704
|
)
|
||
Senior notes payable and other debt
|
$
|
9,364,992
|
|
|
$
|
8,413,646
|
|
(1)
|
These amounts represent in aggregate the approximate
$500.0 million
of borrowings outstanding under our previous unsecured term loan facility. Certain amounts included in the 2015 tranche were in the form of Canadian dollar borrowings.
|
(2)
|
These amounts represent in aggregate the approximate
$1.0 billion
of unsecured term loan borrowings under our new unsecured credit facility. Certain amounts included in the 2019 tranche are in the form of Canadian dollar borrowings.
|
(3)
|
Excludes debt related to real estate assets classified as held for sale as of
December 31, 2013
and
2012
, respectively. The total mortgage debt for these properties as of
December 31, 2013
and
2012
was
$13.1 million
and
$23.2 million
, respectively, and is included in accounts payable and other liabilities on our Consolidated Balance Sheets.
|
(4)
|
Subsequent to December 31, 2013, we repaid in full approximately
$42.7 million
of the mortgage loans outstanding as of
December 31, 2013
.
|
|
Principal Amount
Due at Maturity
|
|
Unsecured
Credit
Facility(1)
|
|
Scheduled Periodic
Amortization
|
|
Total Maturities
|
||||||||
|
(In thousands)
|
||||||||||||||
2014
|
$
|
95,657
|
|
|
$
|
—
|
|
|
$
|
45,952
|
|
|
$
|
141,609
|
|
2015
|
929,941
|
|
|
—
|
|
|
40,730
|
|
|
970,671
|
|
||||
2016
|
960,917
|
|
|
—
|
|
|
33,708
|
|
|
994,625
|
|
||||
2017 (2)
|
540,072
|
|
|
—
|
|
|
21,964
|
|
|
562,036
|
|
||||
2018
|
1,082,496
|
|
|
376,343
|
|
|
15,446
|
|
|
1,474,285
|
|
||||
Thereafter (3)
|
5,030,288
|
|
|
—
|
|
|
146,963
|
|
|
5,177,251
|
|
||||
Total maturities
|
$
|
8,639,371
|
|
|
$
|
376,343
|
|
|
$
|
304,763
|
|
|
$
|
9,320,477
|
|
(1)
|
At
December 31, 2013
, we had
$94.8 million
of unrestricted cash and cash equivalents, for
$281.5 million
of net borrowings outstanding under our unsecured revolving credit facility.
|
(2)
|
Excludes
$13.1 million
of mortgage debt related to a real estate asset classified as held for sale as of
December 31, 2013
that is scheduled to mature in 2017.
|
(3)
|
Includes
$52.4 million
aggregate principal amount of our
6.90%
senior notes due 2037 that is subject to repurchase, at the option of the holders, on October 1 in each of 2017 and 2027, and
$23.0 million
aggregate principal amount of
6.59%
senior notes due 2038 that is subject to repurchase, at the option of the holders, on July 7 in each of 2018, 2023 and 2028.
|
|
2013
|
|
2012
|
||||||||||||
|
Carrying
Amount
|
|
Fair Value
|
|
Carrying
Amount
|
|
Fair Value
|
||||||||
|
(In thousands)
|
||||||||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
94,816
|
|
|
$
|
94,816
|
|
|
$
|
67,908
|
|
|
$
|
67,908
|
|
Secured loans receivable, net
|
354,775
|
|
|
355,223
|
|
|
635,002
|
|
|
636,714
|
|
||||
Unsecured loans receivable, net
|
38,512
|
|
|
40,473
|
|
|
62,118
|
|
|
65,146
|
|
||||
Marketable debt securities
|
21,454
|
|
|
21,454
|
|
|
5,400
|
|
|
5,400
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Senior notes payable and other debt, gross
|
9,320,477
|
|
|
9,405,259
|
|
|
8,186,315
|
|
|
8,600,450
|
|
||||
Derivative instruments and other liabilities
|
11,105
|
|
|
11,105
|
|
|
45,966
|
|
|
45,966
|
|
||||
Redeemable OP unitholder interests
|
111,607
|
|
|
111,607
|
|
|
114,933
|
|
|
114,933
|
|
•
|
Executive Deferred Stock Compensation Plan—
500,000
shares were reserved initially for issuance to our executive officers in lieu of the payment of all or a portion of their salary, at their option, and
500,000
shares were available for future issuance as of
December 31, 2013
.
|
•
|
Nonemployee Directors’ Deferred Stock Compensation Plan—
500,000
shares were reserved initially for issuance to nonemployee directors in lieu of the payment of all or a portion of their retainer and meeting fees, at their option, and
424,704
shares were available for future issuance as of
December 31, 2013
.
|
•
|
2012 Incentive Plan—
8,836,614
shares (plus the number of shares or options outstanding under the 2006 Plans as of December 31, 2012 that are subsequently forfeited or expire unexercised) were reserved initially for grants or issuance to employees and non-employee directors, and
8,169,232
shares (plus the number of shares or options outstanding under the 2006 Plans as of December 31, 2013 that are subsequently forfeited or expire unexercised) were available for future issuance as of
December 31, 2013
.
|
|
2013
|
|
2012
|
|
2011
|
|||
Risk-free interest rate
|
0.59 - 0.63%
|
|
|
0.68 - 1.39%
|
|
|
1.22 - 2.78%
|
|
Dividend yield
|
5.00
|
%
|
|
6.75
|
%
|
|
6.75
|
%
|
Volatility factors of the expected market price for our common stock
|
24.2 - 31.7%
|
|
|
35.9 - 42.9%
|
|
|
35.7 - 44.3%
|
|
Weighted average expected life of options
|
4.17 years
|
|
|
4.25 - 7.0 years
|
|
|
4.25 - 7.0 years
|
|
|
Shares
|
|
Range of Exercise
Prices
|
|
Weighted Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Life (years)
|
|
Intrinsic
Value
($000’s)
|
|||||
Outstanding as of December 31, 2012
|
1,909,999
|
|
|
$21.57 - $57.19
|
|
$
|
47.20
|
|
|
|
|
|
|
|
Options granted
|
512,706
|
|
|
65.93 - 73.20
|
|
67.36
|
|
|
|
|
|
|
||
Options exercised
|
(149,340
|
)
|
|
22.15 - 57.19
|
|
48.01
|
|
|
|
|
|
|
||
Options forfeited
|
(14,602
|
)
|
|
55.39 - 70.34
|
|
67.98
|
|
|
|
|
|
|||
Outstanding as of December 31, 2013
|
2,258,763
|
|
|
21.57 - 73.20
|
|
51.59
|
|
|
6.6
|
|
$
|
17,870
|
|
|
Exercisable as of December 31, 2013
|
1,724,083
|
|
|
$21.57 - $65.93
|
|
$
|
47.65
|
|
|
5.9
|
|
$
|
17,613
|
|
|
Shares
|
|
Weighted Average
Grant Date Fair
Value
|
|||
Nonvested at beginning of year
|
421,426
|
|
|
$
|
10.86
|
|
Granted
|
512,706
|
|
|
9.25
|
|
|
Vested
|
(384,844
|
)
|
|
10.66
|
|
|
Forfeited
|
(14,602
|
)
|
|
7.88
|
|
|
Nonvested at end of year
|
534,686
|
|
|
$
|
9.54
|
|
|
Restricted
Stock
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Restricted
Stock Units
|
|
Weighted
Average
Grant Date
Fair Value
|
||||||
Nonvested at December 31, 2012
|
591,884
|
|
|
$
|
52.66
|
|
|
6,825
|
|
|
$
|
50.34
|
|
Granted
|
189,659
|
|
|
67.05
|
|
|
4,635
|
|
|
64.72
|
|
||
Vested
|
(247,411
|
)
|
|
55.09
|
|
|
(3,592
|
)
|
|
46.68
|
|
||
Forfeited
|
(25,016
|
)
|
|
56.31
|
|
|
(352
|
)
|
|
53.74
|
|
||
Nonvested at December 31, 2013
|
509,116
|
|
|
$
|
56.66
|
|
|
7,516
|
|
|
$
|
60.80
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
Tax treatment of distributions:
|
|
|
|
|
|
||||||
Ordinary income
|
$
|
2.65787
|
|
|
$
|
2.23124
|
|
|
$
|
2.28131
|
|
Qualified ordinary income
|
0.03718
|
|
|
—
|
|
|
—
|
|
|||
Long-term capital gain
|
0.03995
|
|
|
0.18884
|
|
|
0.01869
|
|
|||
Unrecaptured Section 1250 gain
|
—
|
|
|
0.05992
|
|
|
—
|
|
|||
Distribution reported for 1099-DIV purposes
|
$
|
2.73500
|
|
|
$
|
2.48000
|
|
|
$
|
2.30000
|
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Current
|
$
|
2,684
|
|
|
$
|
1,208
|
|
|
$
|
(4,080
|
)
|
Deferred
|
(14,512
|
)
|
|
(7,490
|
)
|
|
(26,580
|
)
|
|||
Total
|
$
|
(11,828
|
)
|
|
$
|
(6,282
|
)
|
|
$
|
(30,660
|
)
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interest and income taxes
|
$
|
167,469
|
|
|
$
|
105,185
|
|
|
$
|
115,645
|
|
State income taxes, net of federal benefit
|
(1,857
|
)
|
|
(842
|
)
|
|
(2,364
|
)
|
|||
Increase in valuation allowance
|
7,145
|
|
|
33,577
|
|
|
8,783
|
|
|||
Increase (decrease) in ASC 740 income tax liability
|
2,805
|
|
|
656
|
|
|
(4,084
|
)
|
|||
Tax at statutory rate on earnings not subject to federal income taxes
|
(186,938
|
)
|
|
(144,698
|
)
|
|
(150,331
|
)
|
|||
Other differences
|
(452
|
)
|
|
(160
|
)
|
|
1,691
|
|
|||
Income tax benefit
|
$
|
(11,828
|
)
|
|
$
|
(6,282
|
)
|
|
$
|
(30,660
|
)
|
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs
|
$
|
(309,775
|
)
|
|
$
|
(310,756
|
)
|
|
$
|
(332,111
|
)
|
Operating loss and interest deduction carryforwards
|
377,645
|
|
|
366,590
|
|
|
343,843
|
|
|||
Expense accruals and other
|
13,421
|
|
|
13,984
|
|
|
11,511
|
|
|||
Valuation allowance
|
(331,458
|
)
|
|
(326,837
|
)
|
|
(281,954
|
)
|
|||
Net deferred tax liabilities (1)
|
$
|
(250,167
|
)
|
|
$
|
(257,019
|
)
|
|
$
|
(258,711
|
)
|
(1)
|
Includes approximately
$0.0 million
,
$2.7 million
and
$2.0 million
, respectively, of deferred tax assets included in other assets on our Consolidated Balance Sheets.
|
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Balance as of January 1
|
$
|
19,466
|
|
|
$
|
19,583
|
|
Additions to tax positions related to the current year
|
3,901
|
|
|
3,489
|
|
||
Additions to tax positions related to prior years
|
—
|
|
|
59
|
|
||
Subtractions to tax positions related to prior years
|
(513
|
)
|
|
(968
|
)
|
||
Subtractions to tax positions related to settlements
|
—
|
|
|
(47
|
)
|
||
Subtractions to tax positions as a result of the lapse of the statute of limitations
|
(948
|
)
|
|
(2,650
|
)
|
||
Balance as of December 31
|
$
|
21,906
|
|
|
$
|
19,466
|
|
|
For the Year Ended December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands, except per share amounts)
|
||||||||||
Numerator for basic and diluted earnings per share:
|
|
|
|
|
|
||||||
Income from continuing operations attributable to common stockholders
|
$
|
488,930
|
|
|
$
|
307,835
|
|
|
$
|
362,308
|
|
Discontinued operations
|
(35,421
|
)
|
|
54,965
|
|
|
2,185
|
|
|||
Net income attributable to common stockholders
|
$
|
453,509
|
|
|
$
|
362,800
|
|
|
$
|
364,493
|
|
Denominator:
|
|
|
|
|
|
||||||
Denominator for basic earnings per share—weighted average shares
|
292,654
|
|
|
292,064
|
|
|
228,453
|
|
|||
Effect of dilutive securities:
|
|
|
|
|
|
||||||
Stock options
|
534
|
|
|
496
|
|
|
449
|
|
|||
Restricted stock awards
|
99
|
|
|
92
|
|
|
53
|
|
|||
OP units
|
1,823
|
|
|
1,836
|
|
|
942
|
|
|||
Convertible notes
|
—
|
|
|
—
|
|
|
893
|
|
|||
Denominator for diluted earnings per share—adjusted weighted average shares
|
295,110
|
|
|
294,488
|
|
|
230,790
|
|
|||
Basic earnings per share:
|
|
|
|
|
|
||||||
Income from continuing operations attributable to common stockholders
|
$
|
1.67
|
|
|
$
|
1.05
|
|
|
$
|
1.59
|
|
Discontinued operations
|
(0.12
|
)
|
|
0.19
|
|
|
0.01
|
|
|||
Net income attributable to common stockholders
|
$
|
1.55
|
|
|
$
|
1.24
|
|
|
$
|
1.60
|
|
Diluted earnings per share:
|
|
|
|
|
|
||||||
Income from continuing operations attributable to common stockholders
|
$
|
1.66
|
|
|
$
|
1.04
|
|
|
$
|
1.57
|
|
Discontinued operations
|
(0.12
|
)
|
|
0.19
|
|
|
0.01
|
|
|||
Net income attributable to common stockholders
|
$
|
1.54
|
|
|
$
|
1.23
|
|
|
$
|
1.58
|
|
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Foreign currency translation
|
$
|
18,019
|
|
|
$
|
23,441
|
|
Unrealized (loss) gain on marketable debt securities
|
(216
|
)
|
|
807
|
|
||
Other
|
1,856
|
|
|
(894
|
)
|
||
Total accumulated other comprehensive income
|
$
|
19,659
|
|
|
$
|
23,354
|
|
|
|
Redeemable OP Unitholder Interests
|
|
Redeemable Noncontrolling Interests
|
|
Total Redeemable OP Unitholder and Noncontrolling Interests
|
||||||
|
|
(In thousands)
|
||||||||||
Balance as of December 31, 2012
|
|
$
|
114,933
|
|
|
$
|
59,622
|
|
|
$
|
174,555
|
|
New issuances
|
|
11,053
|
|
|
—
|
|
|
11,053
|
|
|||
Change in valuation
|
|
(8,683
|
)
|
|
11,861
|
|
|
3,178
|
|
|||
Distributions and other
|
|
(5,139
|
)
|
|
(1,052
|
)
|
|
(6,191
|
)
|
|||
Redemptions
|
|
(557
|
)
|
|
(25,378
|
)
|
|
(25,935
|
)
|
|||
Balance as of December 31, 2013
|
|
$
|
111,607
|
|
|
$
|
45,053
|
|
|
$
|
156,660
|
|
|
For the Year Ended December 31, 2013
|
||||||||||||||
|
First
Quarter
|
|
Second
Quarter
|
|
Third
Quarter
|
|
Fourth
Quarter
|
||||||||
|
(In thousands, except per share amounts)
|
||||||||||||||
Revenues (1)
|
$
|
682,509
|
|
|
$
|
683,764
|
|
|
$
|
710,924
|
|
|
$
|
732,856
|
|
Income from continuing operations attributable to common stockholders (1)
|
$
|
120,429
|
|
|
$
|
132,895
|
|
|
$
|
127,268
|
|
|
$
|
108,338
|
|
Discontinued operations (1)
|
(8,236
|
)
|
|
(18,315
|
)
|
|
(8,972
|
)
|
|
102
|
|
||||
Net income attributable to common stockholders
|
$
|
112,193
|
|
|
$
|
114,580
|
|
|
$
|
118,296
|
|
|
$
|
108,440
|
|
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations attributable to common stockholders
|
$
|
0.41
|
|
|
$
|
0.45
|
|
|
$
|
0.43
|
|
|
$
|
0.37
|
|
Discontinued operations
|
(0.03
|
)
|
|
(0.06
|
)
|
|
(0.03
|
)
|
|
—
|
|
||||
Net income attributable to common stockholders
|
$
|
0.38
|
|
|
$
|
0.39
|
|
|
$
|
0.40
|
|
|
$
|
0.37
|
|
Diluted:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations attributable to common stockholders
|
$
|
0.41
|
|
|
$
|
0.45
|
|
|
$
|
0.43
|
|
|
$
|
0.37
|
|
Discontinued operations
|
(0.03
|
)
|
|
(0.06
|
)
|
|
(0.03
|
)
|
|
—
|
|
||||
Net income attributable to common stockholders
|
$
|
0.38
|
|
|
$
|
0.39
|
|
|
$
|
0.40
|
|
|
$
|
0.37
|
|
Dividends declared per share
|
$
|
0.67
|
|
|
$
|
0.67
|
|
|
$
|
0.67
|
|
|
$
|
0.725
|
|
(1)
|
The amounts presented for the three months ended March 31,
2013
, June 30,
2013
and September 30,
2013
differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of discontinued operations consisting of properties sold in
2013
or classified as held for sale as of
December 31, 2013
.
|
|
For the Three Months Ended
|
||||||||||
|
March 31,
2013
|
|
June 30,
2013
|
|
September 30,
2013
|
||||||
|
(In thousands, except per share amounts)
|
||||||||||
Revenues, previously reported in Form 10-Q
|
$
|
684,868
|
|
|
$
|
685,846
|
|
|
$
|
712,386
|
|
Revenues, previously reported in Form 10-Q, subsequently reclassified to discontinued operations
|
(2,359
|
)
|
|
(2,082
|
)
|
|
(1,462
|
)
|
|||
Total revenues disclosed in Form 10-K
|
$
|
682,509
|
|
|
$
|
683,764
|
|
|
$
|
710,924
|
|
Income from continuing operations attributable to common stockholders, previously reported in Form 10-Q
|
$
|
117,820
|
|
|
$
|
132,635
|
|
|
$
|
127,380
|
|
Income from continuing operations attributable to common stockholders, previously reported in Form 10-Q, subsequently reclassified to discontinued operations
|
2,609
|
|
|
260
|
|
|
(112
|
)
|
|||
Income from continuing operations attributable to common stockholders disclosed in Form 10-K
|
$
|
120,429
|
|
|
$
|
132,895
|
|
|
$
|
127,268
|
|
Discontinued operations, previously reported in Form 10-Q
|
$
|
(5,627
|
)
|
|
$
|
(18,055
|
)
|
|
$
|
(9,084
|
)
|
Discontinued operations from properties sold or held for sale subsequent to the respective reporting period
|
(2,609
|
)
|
|
(260
|
)
|
|
112
|
|
|||
Discontinued operations disclosed in Form 10-K
|
$
|
(8,236
|
)
|
|
$
|
(18,315
|
)
|
|
$
|
(8,972
|
)
|
|
For the Year Ended December 31, 2012
|
||||||||||||||
|
First
Quarter
|
|
Second
Quarter
|
|
Third
Quarter
|
|
Fourth
Quarter
|
||||||||
|
(In thousands, except per share amounts)
|
||||||||||||||
Revenues (1)
|
$
|
564,597
|
|
|
$
|
610,188
|
|
|
$
|
637,218
|
|
|
$
|
655,730
|
|
Income from continuing operations attributable to common stockholders (1)
|
$
|
47,246
|
|
|
$
|
43,413
|
|
|
$
|
115,737
|
|
|
$
|
101,439
|
|
Discontinued operations (1)
|
43,380
|
|
|
30,612
|
|
|
(3,855
|
)
|
|
(15,172
|
)
|
||||
Net income attributable to common stockholders
|
$
|
90,626
|
|
|
$
|
74,025
|
|
|
$
|
111,882
|
|
|
$
|
86,267
|
|
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations attributable to common stockholders
|
$
|
0.16
|
|
|
$
|
0.15
|
|
|
$
|
0.39
|
|
|
$
|
0.35
|
|
Discontinued operations
|
0.15
|
|
|
0.11
|
|
|
(0.01
|
)
|
|
(0.05
|
)
|
||||
Net income attributable to common stockholders
|
$
|
0.31
|
|
|
$
|
0.26
|
|
|
$
|
0.38
|
|
|
$
|
0.30
|
|
Diluted:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations attributable to common stockholders
|
$
|
0.16
|
|
|
$
|
0.15
|
|
|
$
|
0.39
|
|
|
$
|
0.35
|
|
Discontinued operations
|
0.15
|
|
|
0.10
|
|
|
(0.01
|
)
|
|
(0.05
|
)
|
||||
Net income attributable to common stockholders
|
$
|
0.31
|
|
|
$
|
0.25
|
|
|
$
|
0.38
|
|
|
$
|
0.30
|
|
Dividends declared per share
|
$
|
0.62
|
|
|
$
|
0.62
|
|
|
$
|
0.62
|
|
|
$
|
0.62
|
|
(1)
|
The amounts presented for the three months ended March 31,
2012
, June 30,
2012
, September 30,
2012
and
December 31, 2012
differ from the amounts previously reported in our Annual Report on Form 10-K for the year ended
December 31, 2012
as a result of discontinued operations consisting of properties sold in
2013
or classified as held for sale as of
December 31, 2013
.
|
|
For the Three Months Ended
|
||||||||||||||
|
March 31,
2012
|
|
June 30,
2012
|
|
September 30,
2012
|
|
December 31,
2012
|
||||||||
|
(In thousands, except per share amounts)
|
||||||||||||||
Revenues, previously reported in Form 10-K
|
$
|
568,566
|
|
|
$
|
614,502
|
|
|
$
|
641,520
|
|
|
$
|
660,711
|
|
Revenues, previously reported in Form 10-K, subsequently reclassified to discontinued operations
|
(3,969
|
)
|
|
(4,314
|
)
|
|
(4,302
|
)
|
|
(4,981
|
)
|
||||
Total revenues disclosed in Form 10-K
|
$
|
564,597
|
|
|
$
|
610,188
|
|
|
$
|
637,218
|
|
|
$
|
655,730
|
|
Income from continuing operations attributable to common stockholders, previously reported in Form 10-K
|
$
|
48,110
|
|
|
$
|
43,496
|
|
|
$
|
115,975
|
|
|
$
|
97,992
|
|
Income from continuing operations attributable to common stockholders, previously reported in Form 10-K, subsequently reclassified to discontinued operations
|
(864
|
)
|
|
(83
|
)
|
|
(238
|
)
|
|
3,447
|
|
||||
Income from continuing operations attributable to common stockholders disclosed in Form 10-K
|
$
|
47,246
|
|
|
$
|
43,413
|
|
|
$
|
115,737
|
|
|
$
|
101,439
|
|
Discontinued operations, previously reported in Form 10-K
|
$
|
42,516
|
|
|
$
|
30,529
|
|
|
$
|
(4,093
|
)
|
|
$
|
(11,725
|
)
|
Discontinued operations from properties sold or held for sale subsequent to the respective reporting period
|
864
|
|
|
83
|
|
|
238
|
|
|
(3,447
|
)
|
||||
Discontinued operations disclosed in Form 10-K
|
$
|
43,380
|
|
|
$
|
30,612
|
|
|
$
|
(3,855
|
)
|
|
$
|
(15,172
|
)
|
|
Triple-Net
Leased
Properties
|
|
Senior
Living
Operations
|
|
MOB
Operations
|
|
All
Other
|
|
Total
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
875,877
|
|
|
$
|
—
|
|
|
$
|
450,107
|
|
|
$
|
—
|
|
|
$
|
1,325,984
|
|
Resident fees and services
|
—
|
|
|
1,406,005
|
|
|
—
|
|
|
—
|
|
|
1,406,005
|
|
|||||
Medical office building and other services revenue
|
4,469
|
|
|
—
|
|
|
12,077
|
|
|
1,263
|
|
|
17,809
|
|
|||||
Income from loans and investments
|
—
|
|
|
—
|
|
|
—
|
|
|
58,208
|
|
|
58,208
|
|
|||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
2,047
|
|
|
2,047
|
|
|||||
Total revenues
|
$
|
880,346
|
|
|
$
|
1,406,005
|
|
|
$
|
462,184
|
|
|
$
|
61,518
|
|
|
$
|
2,810,053
|
|
Total revenues
|
$
|
880,346
|
|
|
$
|
1,406,005
|
|
|
$
|
462,184
|
|
|
$
|
61,518
|
|
|
$
|
2,810,053
|
|
Less:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
2,047
|
|
|
2,047
|
|
|||||
Property-level operating expenses
|
—
|
|
|
956,684
|
|
|
152,948
|
|
|
—
|
|
|
1,109,632
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
8,315
|
|
|
—
|
|
|
8,315
|
|
|||||
Segment NOI
|
880,346
|
|
|
449,321
|
|
|
300,921
|
|
|
59,471
|
|
|
1,690,059
|
|
|||||
Income (loss) from unconsolidated entities
|
475
|
|
|
(1,980
|
)
|
|
1,451
|
|
|
(454
|
)
|
|
(508
|
)
|
|||||
Segment profit
|
$
|
880,821
|
|
|
$
|
447,341
|
|
|
$
|
302,372
|
|
|
$
|
59,017
|
|
|
1,689,551
|
|
|
Interest and other income
|
|
|
|
|
|
|
|
|
|
|
|
2,047
|
|
||||||
Interest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
(334,484
|
)
|
|||||
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
(721,959
|
)
|
|||||
General, administrative and professional fees
|
|
|
|
|
|
|
|
|
|
|
|
|
(115,106
|
)
|
|||||
Loss on extinguishment of debt, net
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,201
|
)
|
|||||
Merger-related expenses and deal costs
|
|
|
|
|
|
|
|
|
|
|
|
|
(21,634
|
)
|
|||||
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
(18,732
|
)
|
|||||
Income tax benefit
|
|
|
|
|
|
|
|
|
|
|
|
|
11,828
|
|
|||||
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
|
(35,421
|
)
|
|||||
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
454,889
|
|
|
Triple-Net
Leased
Properties
|
|
Senior
Living
Operations
|
|
MOB
Operations
|
|
All
Other
|
|
Total
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
818,000
|
|
|
$
|
—
|
|
|
$
|
360,849
|
|
|
$
|
—
|
|
|
$
|
1,178,849
|
|
Resident fees and services
|
—
|
|
|
1,227,124
|
|
|
—
|
|
|
—
|
|
|
1,227,124
|
|
|||||
Medical office building and other services revenue
|
4,438
|
|
|
—
|
|
|
16,303
|
|
|
—
|
|
|
20,741
|
|
|||||
Income from loans and investments
|
—
|
|
|
—
|
|
|
—
|
|
|
39,913
|
|
|
39,913
|
|
|||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
1,106
|
|
|
1,106
|
|
|||||
Total revenues
|
$
|
822,438
|
|
|
$
|
1,227,124
|
|
|
$
|
377,152
|
|
|
$
|
41,019
|
|
|
$
|
2,467,733
|
|
Total revenues
|
$
|
822,438
|
|
|
$
|
1,227,124
|
|
|
$
|
377,152
|
|
|
$
|
41,019
|
|
|
$
|
2,467,733
|
|
Less:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
1,106
|
|
|
1,106
|
|
|||||
Property-level operating expenses
|
—
|
|
|
841,022
|
|
|
125,400
|
|
|
—
|
|
|
966,422
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
9,883
|
|
|
—
|
|
|
9,883
|
|
|||||
Segment NOI
|
822,438
|
|
|
386,102
|
|
|
241,869
|
|
|
39,913
|
|
|
1,490,322
|
|
|||||
Income (loss) from unconsolidated entities
|
1,313
|
|
|
(48
|
)
|
|
16,889
|
|
|
—
|
|
|
18,154
|
|
|||||
Segment profit
|
$
|
823,751
|
|
|
$
|
386,054
|
|
|
$
|
258,758
|
|
|
$
|
39,913
|
|
|
1,508,476
|
|
|
Interest and other income
|
|
|
|
|
|
|
|
|
|
|
|
1,106
|
|
||||||
Interest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
(288,276
|
)
|
|||||
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
(714,505
|
)
|
|||||
General, administrative and professional fees
|
|
|
|
|
|
|
|
|
|
|
|
|
(98,510
|
)
|
|||||
Loss on extinguishment of debt, net
|
|
|
|
|
|
|
|
|
|
|
|
|
(37,640
|
)
|
|||||
Merger-related expenses and deal costs
|
|
|
|
|
|
|
|
|
|
|
|
|
(63,183
|
)
|
|||||
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,940
|
)
|
|||||
Income tax benefit
|
|
|
|
|
|
|
|
|
|
|
|
|
6,282
|
|
|||||
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
|
54,965
|
|
|||||
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
361,775
|
|
|
Triple-Net
Leased
Properties
|
|
Senior
Living
Operations
|
|
MOB
Operations
|
|
All
Other
|
|
Total
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
627,723
|
|
|
$
|
—
|
|
|
$
|
166,079
|
|
|
$
|
—
|
|
|
$
|
793,802
|
|
Resident fees and services
|
—
|
|
|
865,800
|
|
|
—
|
|
|
—
|
|
|
865,800
|
|
|||||
Medical office building and other services revenue
|
2,217
|
|
|
—
|
|
|
34,254
|
|
|
—
|
|
|
36,471
|
|
|||||
Income from loans and investments
|
—
|
|
|
—
|
|
|
—
|
|
|
34,415
|
|
|
34,415
|
|
|||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
1,216
|
|
|
1,216
|
|
|||||
Total revenues
|
$
|
629,940
|
|
|
$
|
865,800
|
|
|
$
|
200,333
|
|
|
$
|
35,631
|
|
|
$
|
1,731,704
|
|
Total revenues
|
$
|
629,940
|
|
|
$
|
865,800
|
|
|
$
|
200,333
|
|
|
$
|
35,631
|
|
|
$
|
1,731,704
|
|
Less:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest and other income
|
—
|
|
|
—
|
|
|
—
|
|
|
1,216
|
|
|
1,216
|
|
|||||
Property-level operating expenses
|
—
|
|
|
588,095
|
|
|
56,987
|
|
|
—
|
|
|
645,082
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
27,082
|
|
|
—
|
|
|
27,082
|
|
|||||
Segment NOI
|
629,940
|
|
|
277,705
|
|
|
116,264
|
|
|
34,415
|
|
|
1,058,324
|
|
|||||
Income (loss) from unconsolidated entities
|
295
|
|
|
—
|
|
|
(347
|
)
|
|
—
|
|
|
(52
|
)
|
|||||
Segment profit
|
$
|
630,235
|
|
|
$
|
277,705
|
|
|
$
|
115,917
|
|
|
$
|
34,415
|
|
|
1,058,272
|
|
|
Interest and other income
|
|
|
|
|
|
|
|
|
|
|
|
1,216
|
|
||||||
Interest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
(223,804
|
)
|
|||||
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
(444,193
|
)
|
|||||
General, administrative and professional fees
|
|
|
|
|
|
|
|
|
|
|
|
|
(74,537
|
)
|
|||||
Loss on extinguishment of debt, net
|
|
|
|
|
|
|
|
|
(27,604
|
)
|
|||||||||
Litigation proceeds, net
|
|
|
|
|
|
|
|
|
|
|
|
|
202,259
|
|
|||||
Merger-related expenses and deal costs
|
|
|
|
|
|
|
|
|
|
|
|
|
(153,923
|
)
|
|||||
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,270
|
)
|
|||||
Income tax benefit
|
|
|
|
|
|
|
|
|
|
|
|
|
30,660
|
|
|||||
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
|
2,185
|
|
|||||
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
363,261
|
|
|
As of December 31,
|
||||||||||||
|
2013
|
|
2012
|
||||||||||
|
(Dollars in thousands)
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
||||||
Triple-net leased properties
|
$
|
8,919,360
|
|
|
45.2
|
%
|
|
$
|
8,368,186
|
|
|
44.1
|
%
|
Senior living operations
|
6,648,754
|
|
|
33.7
|
|
|
6,274,207
|
|
|
33.1
|
|
||
MOB operations
|
3,701,344
|
|
|
18.8
|
|
|
3,703,453
|
|
|
19.5
|
|
||
All other assets
|
462,036
|
|
|
2.3
|
|
|
634,154
|
|
|
3.3
|
|
||
Total assets
|
$
|
19,731,494
|
|
|
100.0
|
%
|
|
$
|
18,980,000
|
|
|
100.0
|
%
|
|
For the Year Ended December 31,
|
||||||||||
|
2013
|
|
2012 (1)
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Capital expenditures:
|
|
|
|
|
|
||||||
Triple-net leased properties
|
$
|
847,945
|
|
|
$
|
139,680
|
|
|
$
|
133,761
|
|
Senior living operations
|
576,459
|
|
|
758,371
|
|
|
370,455
|
|
|||
MOB operations
|
189,953
|
|
|
1,003,865
|
|
|
125,453
|
|
|||
Total capital expenditures
|
$
|
1,614,357
|
|
|
$
|
1,901,916
|
|
|
$
|
629,669
|
|
(1)
|
Includes funds held in a Code Section 1031 exchange escrow account with a qualified intermediary as follows: triple-net leased –
$58.1 million
; senior living –
$64.7 million
; and MOB –
$11.2 million
.
|
|
As of December 31,
|
||||||
|
2013
|
|
2012
|
||||
|
(In thousands)
|
||||||
Net real estate property:
|
|
|
|
||||
United States
|
$
|
17,705,962
|
|
|
$
|
16,711,508
|
|
Canada
|
369,624
|
|
|
400,024
|
|
||
Total net real estate property
|
$
|
18,075,586
|
|
|
$
|
17,111,532
|
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Net real estate investments
|
$
|
7,009
|
|
|
$
|
374,590
|
|
|
$
|
18,161,872
|
|
|
$
|
—
|
|
|
$
|
18,543,471
|
|
Cash and cash equivalents
|
28,169
|
|
|
—
|
|
|
66,647
|
|
|
—
|
|
|
94,816
|
|
|||||
Escrow deposits and restricted cash
|
2,104
|
|
|
1,211
|
|
|
81,342
|
|
|
—
|
|
|
84,657
|
|
|||||
Deferred financing costs, net
|
758
|
|
|
54,022
|
|
|
7,435
|
|
|
—
|
|
|
62,215
|
|
|||||
Investment in and advances to affiliates
|
10,481,466
|
|
|
3,201,998
|
|
|
—
|
|
|
(13,683,464
|
)
|
|
—
|
|
|||||
Other assets
|
29,450
|
|
|
14,102
|
|
|
902,783
|
|
|
—
|
|
|
946,335
|
|
|||||
Total assets
|
$
|
10,548,956
|
|
|
$
|
3,645,923
|
|
|
$
|
19,220,079
|
|
|
$
|
(13,683,464
|
)
|
|
$
|
19,731,494
|
|
Liabilities and equity
|
|
|
|
|
|
|
|
|
|
||||||||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
||||||||||
Senior notes payable and other debt
|
$
|
—
|
|
|
$
|
6,336,240
|
|
|
$
|
3,028,752
|
|
|
$
|
—
|
|
|
$
|
9,364,992
|
|
Intercompany loans
|
4,247,853
|
|
|
(4,682,119
|
)
|
|
434,266
|
|
|
—
|
|
|
—
|
|
|||||
Accrued interest
|
—
|
|
|
39,561
|
|
|
14,788
|
|
|
—
|
|
|
54,349
|
|
|||||
Accounts payable and other liabilities
|
94,495
|
|
|
28,152
|
|
|
878,868
|
|
|
—
|
|
|
1,001,515
|
|
|||||
Deferred income taxes
|
250,167
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
250,167
|
|
|||||
Total liabilities
|
4,592,515
|
|
|
1,721,834
|
|
|
4,356,674
|
|
|
—
|
|
|
10,671,023
|
|
|||||
Redeemable OP unitholder and noncontrolling interests
|
—
|
|
|
—
|
|
|
156,660
|
|
|
—
|
|
|
156,660
|
|
|||||
Total equity
|
5,956,441
|
|
|
1,924,089
|
|
|
14,706,745
|
|
|
(13,683,464
|
)
|
|
8,903,811
|
|
|||||
Total liabilities and equity
|
$
|
10,548,956
|
|
|
$
|
3,645,923
|
|
|
$
|
19,220,079
|
|
|
$
|
(13,683,464
|
)
|
|
$
|
19,731,494
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Net real estate investments
|
$
|
7,615
|
|
|
$
|
412,362
|
|
|
$
|
17,421,966
|
|
|
$
|
—
|
|
|
$
|
17,841,943
|
|
Cash and cash equivalents
|
16,734
|
|
|
—
|
|
|
51,174
|
|
|
—
|
|
|
67,908
|
|
|||||
Escrow deposits and restricted cash
|
7,565
|
|
|
1,952
|
|
|
96,396
|
|
|
—
|
|
|
105,913
|
|
|||||
Deferred financing costs, net
|
757
|
|
|
34,044
|
|
|
7,750
|
|
|
—
|
|
|
42,551
|
|
|||||
Investment in and advances to affiliates
|
8,979,830
|
|
|
3,201,998
|
|
|
—
|
|
|
(12,181,828
|
)
|
|
—
|
|
|||||
Other assets
|
26,282
|
|
|
4,043
|
|
|
891,360
|
|
|
—
|
|
|
921,685
|
|
|||||
Total assets
|
$
|
9,038,783
|
|
|
$
|
3,654,399
|
|
|
$
|
18,468,646
|
|
|
$
|
(12,181,828
|
)
|
|
$
|
18,980,000
|
|
Liabilities and equity
|
|
|
|
|
|
|
|
|
|
||||||||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
||||||||||
Senior notes payable and other debt
|
$
|
—
|
|
|
$
|
4,570,296
|
|
|
$
|
3,843,350
|
|
|
$
|
—
|
|
|
$
|
8,413,646
|
|
Intercompany loans
|
2,061,334
|
|
|
(2,791,885
|
)
|
|
730,551
|
|
|
—
|
|
|
—
|
|
|||||
Accrued interest
|
—
|
|
|
24,045
|
|
|
23,520
|
|
|
—
|
|
|
47,565
|
|
|||||
Accounts payable and other liabilities
|
99,631
|
|
|
7,776
|
|
|
887,749
|
|
|
—
|
|
|
995,156
|
|
|||||
Deferred income taxes
|
259,715
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
259,715
|
|
|||||
Total liabilities
|
2,420,680
|
|
|
1,810,232
|
|
|
5,485,170
|
|
|
—
|
|
|
9,716,082
|
|
|||||
Redeemable OP unitholder and noncontrolling interests
|
119,244
|
|
|
—
|
|
|
55,311
|
|
|
—
|
|
|
174,555
|
|
|||||
Total equity
|
6,498,859
|
|
|
1,844,167
|
|
|
12,928,165
|
|
|
(12,181,828
|
)
|
|
9,089,363
|
|
|||||
Total liabilities and equity
|
$
|
9,038,783
|
|
|
$
|
3,654,399
|
|
|
$
|
18,468,646
|
|
|
$
|
(12,181,828
|
)
|
|
$
|
18,980,000
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
2,486
|
|
|
$
|
277,779
|
|
|
$
|
1,045,719
|
|
|
$
|
—
|
|
|
$
|
1,325,984
|
|
Resident fees and services
|
—
|
|
|
—
|
|
|
1,406,005
|
|
|
—
|
|
|
1,406,005
|
|
|||||
Medical office building and other services revenues
|
—
|
|
|
(11
|
)
|
|
17,820
|
|
|
—
|
|
|
17,809
|
|
|||||
Income from loans and investments
|
1,262
|
|
|
908
|
|
|
56,038
|
|
|
—
|
|
|
58,208
|
|
|||||
Equity earnings in affiliates
|
449,677
|
|
|
—
|
|
|
800
|
|
|
(450,477
|
)
|
|
—
|
|
|||||
Interest and other income
|
2,963
|
|
|
26
|
|
|
(942
|
)
|
|
—
|
|
|
2,047
|
|
|||||
Total revenues
|
456,388
|
|
|
278,702
|
|
|
2,525,440
|
|
|
(450,477
|
)
|
|
2,810,053
|
|
|||||
Expenses:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest
|
(2,167
|
)
|
|
147,158
|
|
|
189,493
|
|
|
—
|
|
|
334,484
|
|
|||||
Depreciation and amortization
|
4,990
|
|
|
30,007
|
|
|
686,962
|
|
|
—
|
|
|
721,959
|
|
|||||
Property-level operating expenses
|
—
|
|
|
514
|
|
|
1,109,118
|
|
|
—
|
|
|
1,109,632
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
8,315
|
|
|
—
|
|
|
8,315
|
|
|||||
General, administrative and professional fees
|
2,695
|
|
|
21,160
|
|
|
91,251
|
|
|
—
|
|
|
115,106
|
|
|||||
Loss (gain) on extinguishment of debt, net
|
3
|
|
|
1,510
|
|
|
(312
|
)
|
|
—
|
|
|
1,201
|
|
|||||
Merger-related expenses and deal costs
|
11,917
|
|
|
—
|
|
|
9,717
|
|
|
—
|
|
|
21,634
|
|
|||||
Other
|
884
|
|
|
44
|
|
|
17,804
|
|
|
—
|
|
|
18,732
|
|
|||||
Total expenses
|
18,322
|
|
|
200,393
|
|
|
2,112,348
|
|
|
—
|
|
|
2,331,063
|
|
|||||
Income from continuing operations before income (loss) from unconsolidated entities, income taxes and noncontrolling interest
|
438,066
|
|
|
78,309
|
|
|
413,092
|
|
|
(450,477
|
)
|
|
478,990
|
|
|||||
Income (loss) from unconsolidated entities
|
—
|
|
|
673
|
|
|
(1,181
|
)
|
|
—
|
|
|
(508
|
)
|
|||||
Income tax benefit
|
11,828
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,828
|
|
|||||
Income from continuing operations
|
449,894
|
|
|
78,982
|
|
|
411,911
|
|
|
(450,477
|
)
|
|
490,310
|
|
|||||
Discontinued operations
|
3,615
|
|
|
1,012
|
|
|
(40,048
|
)
|
|
—
|
|
|
(35,421
|
)
|
|||||
Net income
|
453,509
|
|
|
79,994
|
|
|
371,863
|
|
|
(450,477
|
)
|
|
454,889
|
|
|||||
Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
1,380
|
|
|
—
|
|
|
1,380
|
|
|||||
Net income attributable to common stockholders
|
$
|
453,509
|
|
|
$
|
79,994
|
|
|
$
|
370,483
|
|
|
$
|
(450,477
|
)
|
|
$
|
453,509
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
2,538
|
|
|
$
|
272,506
|
|
|
$
|
903,805
|
|
|
$
|
—
|
|
|
$
|
1,178,849
|
|
Resident fees and services
|
—
|
|
|
—
|
|
|
1,227,124
|
|
|
—
|
|
|
1,227,124
|
|
|||||
Medical office building and other services revenues
|
—
|
|
|
—
|
|
|
20,741
|
|
|
—
|
|
|
20,741
|
|
|||||
Income from loans and investments
|
2,944
|
|
|
1,871
|
|
|
35,098
|
|
|
—
|
|
|
39,913
|
|
|||||
Equity earnings in affiliates
|
322,660
|
|
|
—
|
|
|
998
|
|
|
(323,658
|
)
|
|
—
|
|
|||||
Interest and other income
|
476
|
|
|
25
|
|
|
605
|
|
|
—
|
|
|
1,106
|
|
|||||
Total revenues
|
328,618
|
|
|
274,402
|
|
|
2,188,371
|
|
|
(323,658
|
)
|
|
2,467,733
|
|
|||||
Expenses:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest
|
(3,858
|
)
|
|
92,597
|
|
|
199,537
|
|
|
—
|
|
|
288,276
|
|
|||||
Depreciation and amortization
|
2,777
|
|
|
35,414
|
|
|
676,314
|
|
|
—
|
|
|
714,505
|
|
|||||
Property-level operating expenses
|
—
|
|
|
535
|
|
|
965,887
|
|
|
—
|
|
|
966,422
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
9,883
|
|
|
—
|
|
|
9,883
|
|
|||||
General, administrative and professional fees
|
3,682
|
|
|
30,317
|
|
|
64,511
|
|
|
—
|
|
|
98,510
|
|
|||||
Loss (gain) on extinguishment of debt, net
|
—
|
|
|
39,737
|
|
|
(2,097
|
)
|
|
—
|
|
|
37,640
|
|
|||||
Merger-related expenses and deal costs
|
53,199
|
|
|
—
|
|
|
9,984
|
|
|
—
|
|
|
63,183
|
|
|||||
Other
|
78
|
|
|
—
|
|
|
6,862
|
|
|
—
|
|
|
6,940
|
|
|||||
Total expenses
|
55,878
|
|
|
198,600
|
|
|
1,930,881
|
|
|
—
|
|
|
2,185,359
|
|
|||||
Income from continuing operations before income (loss) from unconsolidated entities, income taxes and noncontrolling interest
|
272,740
|
|
|
75,802
|
|
|
257,490
|
|
|
(323,658
|
)
|
|
282,374
|
|
|||||
Income (loss) from unconsolidated entities
|
—
|
|
|
18,266
|
|
|
(112
|
)
|
|
—
|
|
|
18,154
|
|
|||||
Income tax benefit
|
6,282
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,282
|
|
|||||
Income from continuing operations
|
279,022
|
|
|
94,068
|
|
|
257,378
|
|
|
(323,658
|
)
|
|
306,810
|
|
|||||
Discontinued operations
|
83,778
|
|
|
5,722
|
|
|
(34,535
|
)
|
|
—
|
|
|
54,965
|
|
|||||
Net income
|
362,800
|
|
|
99,790
|
|
|
222,843
|
|
|
(323,658
|
)
|
|
361,775
|
|
|||||
Net loss attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
(1,025
|
)
|
|
—
|
|
|
(1,025
|
)
|
|||||
Net income attributable to common stockholders
|
$
|
362,800
|
|
|
$
|
99,790
|
|
|
$
|
223,868
|
|
|
$
|
(323,658
|
)
|
|
$
|
362,800
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||
Rental income
|
$
|
2,471
|
|
|
$
|
265,039
|
|
|
$
|
526,292
|
|
|
$
|
—
|
|
|
$
|
793,802
|
|
Resident fees and services
|
—
|
|
|
—
|
|
|
865,800
|
|
|
—
|
|
|
865,800
|
|
|||||
Medical office building and other services revenues
|
—
|
|
|
—
|
|
|
36,471
|
|
|
—
|
|
|
36,471
|
|
|||||
Income from loans and investments
|
6,305
|
|
|
8,570
|
|
|
19,540
|
|
|
—
|
|
|
34,415
|
|
|||||
Equity earnings in affiliates
|
231,779
|
|
|
—
|
|
|
1,447
|
|
|
(233,226
|
)
|
|
—
|
|
|||||
Interest and other income
|
208
|
|
|
57
|
|
|
951
|
|
|
—
|
|
|
1,216
|
|
|||||
Total revenues
|
240,763
|
|
|
273,666
|
|
|
1,450,501
|
|
|
(233,226
|
)
|
|
1,731,704
|
|
|||||
Expenses:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest
|
(1,897
|
)
|
|
66,633
|
|
|
159,068
|
|
|
—
|
|
|
223,804
|
|
|||||
Depreciation and amortization
|
1,714
|
|
|
30,473
|
|
|
412,006
|
|
|
—
|
|
|
444,193
|
|
|||||
Property-level operating expenses
|
—
|
|
|
510
|
|
|
644,572
|
|
|
—
|
|
|
645,082
|
|
|||||
Medical office building services costs
|
—
|
|
|
—
|
|
|
27,082
|
|
|
—
|
|
|
27,082
|
|
|||||
General, administrative and professional fees
|
(5,322
|
)
|
|
29,336
|
|
|
50,523
|
|
|
—
|
|
|
74,537
|
|
|||||
Loss on extinguishment of debt, net
|
2,071
|
|
|
8,769
|
|
|
16,764
|
|
|
—
|
|
|
27,604
|
|
|||||
Litigation proceeds, net
|
(202,259
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(202,259
|
)
|
|||||
Merger-related expenses and deal costs
|
111,845
|
|
|
—
|
|
|
42,078
|
|
|
—
|
|
|
153,923
|
|
|||||
Other
|
778
|
|
|
—
|
|
|
6,492
|
|
|
—
|
|
|
7,270
|
|
|||||
Total expenses
|
(93,070
|
)
|
|
135,721
|
|
|
1,358,585
|
|
|
—
|
|
|
1,401,236
|
|
|||||
Income from continuing operations before loss from unconsolidated entities, income taxes and noncontrolling interest
|
333,833
|
|
|
137,945
|
|
|
91,916
|
|
|
(233,226
|
)
|
|
330,468
|
|
|||||
Loss from unconsolidated entities
|
—
|
|
|
(52
|
)
|
|
—
|
|
|
—
|
|
|
(52
|
)
|
|||||
Income tax benefit
|
30,660
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
30,660
|
|
|||||
Income from continuing operations
|
364,493
|
|
|
137,893
|
|
|
91,916
|
|
|
(233,226
|
)
|
|
361,076
|
|
|||||
Discontinued operations
|
—
|
|
|
6,789
|
|
|
(4,604
|
)
|
|
—
|
|
|
2,185
|
|
|||||
Net income
|
364,493
|
|
|
144,682
|
|
|
87,312
|
|
|
(233,226
|
)
|
|
363,261
|
|
|||||
Net loss attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
(1,232
|
)
|
|
—
|
|
|
(1,232
|
)
|
|||||
Net income attributable to common stockholders
|
$
|
364,493
|
|
|
$
|
144,682
|
|
|
$
|
88,544
|
|
|
$
|
(233,226
|
)
|
|
$
|
364,493
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net income
|
$
|
453,509
|
|
|
$
|
79,994
|
|
|
$
|
371,863
|
|
|
$
|
(450,477
|
)
|
|
$
|
454,889
|
|
Other comprehensive loss:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency translation
|
—
|
|
|
—
|
|
|
(5,422
|
)
|
|
—
|
|
|
(5,422
|
)
|
|||||
Change in unrealized gain on marketable debt securities
|
(1,023
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,023
|
)
|
|||||
Other
|
—
|
|
|
—
|
|
|
2,750
|
|
|
—
|
|
|
2,750
|
|
|||||
Total other comprehensive loss
|
(1,023
|
)
|
|
—
|
|
|
(2,672
|
)
|
|
—
|
|
|
(3,695
|
)
|
|||||
Comprehensive income
|
452,486
|
|
|
79,994
|
|
|
369,191
|
|
|
(450,477
|
)
|
|
451,194
|
|
|||||
Comprehensive income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
1,380
|
|
|
—
|
|
|
1,380
|
|
|||||
Comprehensive income attributable to common stockholders
|
$
|
452,486
|
|
|
$
|
79,994
|
|
|
$
|
367,811
|
|
|
$
|
(450,477
|
)
|
|
$
|
449,814
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net income
|
$
|
362,800
|
|
|
$
|
99,790
|
|
|
$
|
222,843
|
|
|
$
|
(323,658
|
)
|
|
$
|
361,775
|
|
Other comprehensive (loss) income:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency translation
|
—
|
|
|
—
|
|
|
2,375
|
|
|
—
|
|
|
2,375
|
|
|||||
Change in unrealized gain on marketable debt securities
|
(1,296
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,296
|
)
|
|||||
Other
|
—
|
|
|
—
|
|
|
213
|
|
|
—
|
|
|
213
|
|
|||||
Total other comprehensive (loss) income
|
(1,296
|
)
|
|
—
|
|
|
2,588
|
|
|
—
|
|
|
1,292
|
|
|||||
Comprehensive income
|
361,504
|
|
|
99,790
|
|
|
225,431
|
|
|
(323,658
|
)
|
|
363,067
|
|
|||||
Comprehensive loss attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
(1,025
|
)
|
|
—
|
|
|
(1,025
|
)
|
|||||
Comprehensive income attributable to common stockholders
|
$
|
361,504
|
|
|
$
|
99,790
|
|
|
$
|
226,456
|
|
|
$
|
(323,658
|
)
|
|
$
|
364,092
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net income
|
$
|
364,493
|
|
|
$
|
144,682
|
|
|
$
|
87,312
|
|
|
$
|
(233,226
|
)
|
|
$
|
363,261
|
|
Other comprehensive loss:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency translation
|
—
|
|
|
—
|
|
|
(1,944
|
)
|
|
—
|
|
|
(1,944
|
)
|
|||||
Change in unrealized gain on marketable debt securities
|
(2,691
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,691
|
)
|
|||||
Other
|
—
|
|
|
—
|
|
|
(171
|
)
|
|
—
|
|
|
(171
|
)
|
|||||
Total other comprehensive loss
|
(2,691
|
)
|
|
—
|
|
|
(2,115
|
)
|
|
—
|
|
|
(4,806
|
)
|
|||||
Comprehensive income
|
361,802
|
|
|
144,682
|
|
|
85,197
|
|
|
(233,226
|
)
|
|
358,455
|
|
|||||
Comprehensive loss attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
(1,232
|
)
|
|
—
|
|
|
(1,232
|
)
|
|||||
Comprehensive income attributable to common stockholders
|
$
|
361,802
|
|
|
$
|
144,682
|
|
|
$
|
86,429
|
|
|
$
|
(233,226
|
)
|
|
$
|
359,687
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net cash (used in) provided by operating activities
|
$
|
(1,362
|
)
|
|
$
|
129,023
|
|
|
$
|
1,067,094
|
|
|
$
|
—
|
|
|
$
|
1,194,755
|
|
Net cash (used in) provided by investing activities
|
(1,416,336
|
)
|
|
22,835
|
|
|
110,741
|
|
|
—
|
|
|
(1,282,760
|
)
|
|||||
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net change in borrowings under credit facilities
|
—
|
|
|
(168,000
|
)
|
|
3,971
|
|
|
—
|
|
|
(164,029
|
)
|
|||||
Proceeds from debt
|
—
|
|
|
2,330,435
|
|
|
437,111
|
|
|
—
|
|
|
2,767,546
|
|
|||||
Repayment of debt
|
—
|
|
|
(400,000
|
)
|
|
(1,392,492
|
)
|
|
—
|
|
|
(1,792,492
|
)
|
|||||
Net change in intercompany debt
|
2,156,519
|
|
|
(1,890,234
|
)
|
|
(266,285
|
)
|
|
—
|
|
|
—
|
|
|||||
Payment of deferred financing costs
|
—
|
|
|
(29,586
|
)
|
|
(1,691
|
)
|
|
—
|
|
|
(31,277
|
)
|
|||||
Issuance of common stock, net
|
141,343
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
141,343
|
|
|||||
Cash distribution (to) from affiliates
|
(69,525
|
)
|
|
5,610
|
|
|
63,915
|
|
|
—
|
|
|
—
|
|
|||||
Cash distribution to common stockholders
|
(802,123
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(802,123
|
)
|
|||||
Cash distribution to redeemable OP unitholders
|
(5,040
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5,040
|
)
|
|||||
Purchases of redeemable OP units
|
(659
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(659
|
)
|
|||||
Contributions from noncontrolling interest
|
—
|
|
|
—
|
|
|
2,395
|
|
|
—
|
|
|
2,395
|
|
|||||
Distributions to noncontrolling interest
|
—
|
|
|
—
|
|
|
(9,286
|
)
|
|
—
|
|
|
(9,286
|
)
|
|||||
Other
|
8,618
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,618
|
|
|||||
Net cash provided by (used in) financing activities
|
1,429,133
|
|
|
(151,775
|
)
|
|
(1,162,362
|
)
|
|
—
|
|
|
114,996
|
|
|||||
Net increase in cash and cash equivalents
|
11,435
|
|
|
83
|
|
|
15,473
|
|
|
—
|
|
|
26,991
|
|
|||||
Effect of foreign currency translation on cash and cash equivalents
|
—
|
|
|
(83
|
)
|
|
—
|
|
|
—
|
|
|
(83
|
)
|
|||||
Cash and cash equivalents at beginning of period
|
16,734
|
|
|
—
|
|
|
51,174
|
|
|
—
|
|
|
67,908
|
|
|||||
Cash and cash equivalents at end of period
|
$
|
28,169
|
|
|
$
|
—
|
|
|
$
|
66,647
|
|
|
$
|
—
|
|
|
$
|
94,816
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net cash (used in) provided by operating activities
|
$
|
(761
|
)
|
|
$
|
193,544
|
|
|
$
|
800,033
|
|
|
$
|
—
|
|
|
$
|
992,816
|
|
Net cash used in investing activities
|
(1,364,125
|
)
|
|
(100
|
)
|
|
(805,464
|
)
|
|
—
|
|
|
(2,169,689
|
)
|
|||||
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net change in borrowings under revolving credit facility
|
—
|
|
|
92,000
|
|
|
(7,062
|
)
|
|
—
|
|
|
84,938
|
|
|||||
Proceeds from debt
|
—
|
|
|
2,364,360
|
|
|
346,045
|
|
|
—
|
|
|
2,710,405
|
|
|||||
Repayment of debt
|
—
|
|
|
(521,527
|
)
|
|
(671,496
|
)
|
|
—
|
|
|
(1,193,023
|
)
|
|||||
Net change in intercompany debt
|
2,151,815
|
|
|
(2,085,801
|
)
|
|
(66,014
|
)
|
|
—
|
|
|
—
|
|
|||||
Payment of deferred financing costs
|
—
|
|
|
(21,404
|
)
|
|
(2,366
|
)
|
|
—
|
|
|
(23,770
|
)
|
|||||
Issuance of common stock, net
|
342,469
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
342,469
|
|
|||||
Cash distribution (to) from affiliates
|
(398,071
|
)
|
|
(21,132
|
)
|
|
419,203
|
|
|
—
|
|
|
—
|
|
|||||
Cash distribution to common stockholders
|
(728,546
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(728,546
|
)
|
|||||
Cash distribution to redeemable OP unitholders
|
(4,446
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,446
|
)
|
|||||
Purchases of redeemable OP units
|
(4,601
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,601
|
)
|
|||||
Contributions from noncontrolling interest
|
—
|
|
|
—
|
|
|
38
|
|
|
—
|
|
|
38
|
|
|||||
Distributions to noncontrolling interest
|
—
|
|
|
—
|
|
|
(5,215
|
)
|
|
—
|
|
|
(5,215
|
)
|
|||||
Other
|
20,665
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20,665
|
|
|||||
Net cash provided by (used in) financing activities
|
1,379,285
|
|
|
(193,504
|
)
|
|
13,133
|
|
|
—
|
|
|
1,198,914
|
|
|||||
Net increase (decrease) in cash and cash equivalents
|
14,399
|
|
|
(60
|
)
|
|
7,702
|
|
|
—
|
|
|
22,041
|
|
|||||
Effect of foreign currency translation on cash and cash equivalents
|
—
|
|
|
60
|
|
|
—
|
|
|
—
|
|
|
60
|
|
|||||
Cash and cash equivalents at beginning of period
|
2,335
|
|
|
—
|
|
|
43,472
|
|
|
—
|
|
|
45,807
|
|
|||||
Cash and cash equivalents at end of period
|
$
|
16,734
|
|
|
$
|
—
|
|
|
$
|
51,174
|
|
|
$
|
—
|
|
|
$
|
67,908
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
Ventas, Inc.
|
|
Ventas
Realty (1)
|
|
Ventas Subsidiaries
|
|
Consolidated
Elimination
|
|
Consolidated
|
||||||||||
|
(In thousands)
|
||||||||||||||||||
Net cash provided by operating activities
|
$
|
124,784
|
|
|
$
|
199,431
|
|
|
$
|
448,982
|
|
|
$
|
—
|
|
|
$
|
773,197
|
|
Net cash (used in) provided by investing activities
|
(618,663
|
)
|
|
(500,879
|
)
|
|
122,103
|
|
|
—
|
|
|
(997,439
|
)
|
|||||
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net change in borrowings under revolving credit facilities
|
—
|
|
|
405,000
|
|
|
132,452
|
|
|
—
|
|
|
537,452
|
|
|||||
Proceeds from debt
|
(230,000
|
)
|
|
1,069,374
|
|
|
504,266
|
|
|
—
|
|
|
1,343,640
|
|
|||||
Repayment of debt
|
—
|
|
|
(206,500
|
)
|
|
(1,182,462
|
)
|
|
—
|
|
|
(1,388,962
|
)
|
|||||
Net change in intercompany debt
|
1,363,963
|
|
|
(1,559,518
|
)
|
|
195,555
|
|
|
—
|
|
|
—
|
|
|||||
Payment of deferred financing costs
|
—
|
|
|
(19,661
|
)
|
|
(379
|
)
|
|
—
|
|
|
(20,040
|
)
|
|||||
Issuance of common stock, net
|
299,847
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
299,847
|
|
|||||
Cash distribution (to) from affiliates
|
(417,763
|
)
|
|
612,798
|
|
|
(195,035
|
)
|
|
—
|
|
|
—
|
|
|||||
Cash distribution to common stockholders
|
(521,046
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(521,046
|
)
|
|||||
Cash distribution to redeemable OP unitholders
|
(2,359
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,359
|
)
|
|||||
Purchases of redeemable OP units
|
—
|
|
|
—
|
|
|
(185
|
)
|
|
—
|
|
|
(185
|
)
|
|||||
Contributions from noncontrolling interest
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|||||
Distributions to noncontrolling interest
|
—
|
|
|
—
|
|
|
(2,556
|
)
|
|
—
|
|
|
(2,556
|
)
|
|||||
Other
|
2,489
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,489
|
|
|||||
Net cash provided by (used in) financing activities
|
495,131
|
|
|
301,493
|
|
|
(548,342
|
)
|
|
—
|
|
|
248,282
|
|
|||||
Net increase in cash and cash equivalents
|
1,252
|
|
|
45
|
|
|
22,743
|
|
|
—
|
|
|
24,040
|
|
|||||
Effect of foreign currency translation on cash and cash equivalents
|
—
|
|
|
(45
|
)
|
|
—
|
|
|
—
|
|
|
(45
|
)
|
|||||
Cash and cash equivalents at beginning of period
|
1,083
|
|
|
—
|
|
|
20,729
|
|
|
—
|
|
|
21,812
|
|
|||||
Cash and cash equivalents at end of period
|
$
|
2,335
|
|
|
$
|
—
|
|
|
$
|
43,472
|
|
|
$
|
—
|
|
|
$
|
45,807
|
|
(1)
|
Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.
|
|
For the Years Ended December 31,
|
||||||||||
|
2013
|
|
2012
|
|
2011
|
||||||
|
(In thousands)
|
||||||||||
Reconciliation of real estate:
|
|
|
|
|
|
||||||
Carrying cost:
|
|
|
|
|
|
||||||
Balance at beginning of period
|
$
|
18,763,903
|
|
|
$
|
17,029,404
|
|
|
$
|
6,600,886
|
|
Additions during period:
|
|
|
|
|
|
||||||
Acquisitions
|
1,623,648
|
|
|
1,889,592
|
|
|
10,491,275
|
|
|||
Capital expenditures
|
183,929
|
|
|
184,675
|
|
|
102,918
|
|
|||
Dispositions:
|
|
|
|
|
|
||||||
Sales and/or transfers to assets held for sale
|
(155,184
|
)
|
|
(349,456
|
)
|
|
(157,764
|
)
|
|||
Foreign currency translation
|
(22,885
|
)
|
|
9,688
|
|
|
(7,911
|
)
|
|||
Balance at end of period
|
$
|
20,393,411
|
|
|
$
|
18,763,903
|
|
|
$
|
17,029,404
|
|
|
|
|
|
|
|
||||||
Accumulated depreciation:
|
|
|
|
|
|
||||||
Balance at beginning of period
|
$
|
2,289,783
|
|
|
$
|
1,729,976
|
|
|
$
|
1,368,219
|
|
Additions during period:
|
|
|
|
|
|
||||||
Depreciation expense
|
674,141
|
|
|
620,076
|
|
|
380,734
|
|
|||
Dispositions:
|
|
|
|
|
|
||||||
Sales and/or transfers to assets held for sale
|
(78,061
|
)
|
|
(61,583
|
)
|
|
(16,536
|
)
|
|||
Foreign currency translation
|
(3,913
|
)
|
|
1,314
|
|
|
(2,441
|
)
|
|||
Balance at end of period
|
$
|
2,881,950
|
|
|
$
|
2,289,783
|
|
|
$
|
1,729,976
|
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Hallmark Nursing and Rehabilitation Center
|
New Bedford
|
MA
|
—
|
|
202
|
|
2,694
|
|
—
|
|
202
|
|
2,694
|
|
2,896
|
|
2,474
|
|
422
|
|
1968
|
1982
|
26 years
|
|||||||||
Brigham Manor Nursing and Rehabilitation Center
|
Newburyport
|
MA
|
—
|
|
126
|
|
1,708
|
|
—
|
|
126
|
|
1,708
|
|
1,834
|
|
1,607
|
|
227
|
|
1806
|
1982
|
27 years
|
|||||||||
Quincy Rehabilitation and Nursing Center
|
Quincy
|
MA
|
—
|
|
216
|
|
2,911
|
|
—
|
|
216
|
|
2,911
|
|
3,127
|
|
2,770
|
|
357
|
|
1965
|
1984
|
24 years
|
|||||||||
Den-Mar Rehabilitation and Nursing Center
|
Rockport
|
MA
|
—
|
|
23
|
|
1,560
|
|
—
|
|
23
|
|
1,560
|
|
1,583
|
|
1,501
|
|
82
|
|
1963
|
1985
|
30 years
|
|||||||||
Hammersmith House Nursing Care Center
|
Saugus
|
MA
|
—
|
|
112
|
|
1,919
|
|
—
|
|
112
|
|
1,919
|
|
2,031
|
|
1,753
|
|
278
|
|
1965
|
1982
|
28 years
|
|||||||||
Eagle Pond Rehabilitation and Living Center
|
South Dennis
|
MA
|
—
|
|
296
|
|
6,896
|
|
—
|
|
296
|
|
6,896
|
|
7,192
|
|
3,850
|
|
3,342
|
|
1985
|
1987
|
50 years
|
|||||||||
Blue Hills Alzheimer's Care Center
|
Stoughton
|
MA
|
—
|
|
511
|
|
1,026
|
|
—
|
|
511
|
|
1,026
|
|
1,537
|
|
1,394
|
|
143
|
|
1965
|
1982
|
28 years
|
|||||||||
Country Gardens Skilled Nursing & Rehabilitation Center
|
Swansea
|
MA
|
—
|
|
415
|
|
2,675
|
|
—
|
|
415
|
|
2,675
|
|
3,090
|
|
2,507
|
|
583
|
|
1969
|
1984
|
27 years
|
|||||||||
Harrington House Nursing and Rehabilitation Center
|
Walpole
|
MA
|
—
|
|
4
|
|
4,444
|
|
—
|
|
4
|
|
4,444
|
|
4,448
|
|
2,285
|
|
2,163
|
|
1991
|
1991
|
45 years
|
|||||||||
Oakwood Rehabilitation and Nursing Center
|
Webster
|
MA
|
—
|
|
102
|
|
1,154
|
|
—
|
|
102
|
|
1,154
|
|
1,256
|
|
1,173
|
|
83
|
|
1967
|
1982
|
31 years
|
|||||||||
Westgate Manor
|
Bangor
|
ME
|
—
|
|
287
|
|
2,718
|
|
—
|
|
287
|
|
2,718
|
|
3,005
|
|
2,492
|
|
513
|
|
1969
|
1985
|
31 years
|
|||||||||
Parkview Acres Care and Rehabilitation Center
|
Dillon
|
MT
|
—
|
|
207
|
|
2,578
|
|
—
|
|
207
|
|
2,578
|
|
2,785
|
|
1,904
|
|
881
|
|
1965
|
1993
|
29 years
|
|||||||||
Park Place Health Care Center
|
Great Falls
|
MT
|
—
|
|
600
|
|
6,311
|
|
—
|
|
600
|
|
6,311
|
|
6,911
|
|
4,624
|
|
2,287
|
|
1963
|
1993
|
28 years
|
|||||||||
Pettigrew Rehabilitation and Healthcare Center
|
Durham
|
NC
|
—
|
|
101
|
|
2,889
|
|
—
|
|
101
|
|
2,889
|
|
2,990
|
|
2,223
|
|
767
|
|
1969
|
1993
|
28 years
|
|||||||||
Rose Manor Healthcare Center
|
Durham
|
NC
|
—
|
|
200
|
|
3,527
|
|
—
|
|
200
|
|
3,527
|
|
3,727
|
|
3,035
|
|
692
|
|
1972
|
1991
|
26 years
|
|||||||||
Guardian Care of Elizabeth City
|
Elizabeth City
|
NC
|
—
|
|
71
|
|
561
|
|
—
|
|
71
|
|
561
|
|
632
|
|
632
|
|
—
|
|
1977
|
1982
|
20 years
|
|||||||||
Guardian Care of Henderson
|
Henderson
|
NC
|
—
|
|
206
|
|
1,997
|
|
—
|
|
206
|
|
1,997
|
|
2,203
|
|
1,470
|
|
733
|
|
1957
|
1993
|
29 years
|
|||||||||
Lincoln Nursing Center
|
Lincolnton
|
NC
|
—
|
|
39
|
|
3,309
|
|
—
|
|
39
|
|
3,309
|
|
3,348
|
|
2,626
|
|
722
|
|
1976
|
1986
|
35 years
|
|||||||||
Rehabilitation and Nursing Center of Monroe
|
Monroe
|
NC
|
—
|
|
185
|
|
2,654
|
|
—
|
|
185
|
|
2,654
|
|
2,839
|
|
2,057
|
|
782
|
|
1963
|
1993
|
28 years
|
|||||||||
Sunnybrook Healthcare and Rehabilitation Specialists
|
Raleigh
|
NC
|
—
|
|
187
|
|
3,409
|
|
—
|
|
187
|
|
3,409
|
|
3,596
|
|
3,066
|
|
530
|
|
1971
|
1991
|
25 years
|
|||||||||
Raleigh Rehabilitation & Healthcare Center
|
Raleigh
|
NC
|
—
|
|
316
|
|
5,470
|
|
—
|
|
316
|
|
5,470
|
|
5,786
|
|
4,886
|
|
900
|
|
1969
|
1991
|
25 years
|
|||||||||
Guardian Care of Rocky Mount
|
Rocky Mount
|
NC
|
—
|
|
240
|
|
1,732
|
|
—
|
|
240
|
|
1,732
|
|
1,972
|
|
1,487
|
|
485
|
|
1975
|
1997
|
25 years
|
|||||||||
Cypress Pointe Rehabilitation and Health Care Centre
|
Wilmington
|
NC
|
—
|
|
233
|
|
3,710
|
|
—
|
|
233
|
|
3,710
|
|
3,943
|
|
2,872
|
|
1,071
|
|
1966
|
1993
|
28.5 years
|
|||||||||
Silas Creek Manor
|
Winston-Salem
|
NC
|
—
|
|
211
|
|
1,893
|
|
—
|
|
211
|
|
1,893
|
|
2,104
|
|
1,408
|
|
696
|
|
1966
|
1993
|
28.5 years
|
|||||||||
Guardian Care of Zebulon
|
Zebulon
|
NC
|
—
|
|
179
|
|
1,933
|
|
—
|
|
179
|
|
1,933
|
|
2,112
|
|
1,427
|
|
685
|
|
1973
|
1993
|
29 years
|
|||||||||
Hanover Terrace Healthcare
|
Hanover
|
NH
|
—
|
|
326
|
|
1,825
|
|
—
|
|
326
|
|
1,825
|
|
2,151
|
|
1,333
|
|
818
|
|
1969
|
1993
|
29 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Greenbriar Terrace Healthcare
|
Nashua
|
NH
|
—
|
|
776
|
|
6,011
|
|
—
|
|
776
|
|
6,011
|
|
6,787
|
|
5,362
|
|
1,425
|
|
1963
|
1990
|
25 years
|
|||||||||
Cambridge Health & Rehabilitation Center
|
Cambridge
|
OH
|
—
|
|
108
|
|
2,642
|
|
—
|
|
108
|
|
2,642
|
|
2,750
|
|
2,201
|
|
549
|
|
1975
|
1993
|
25 years
|
|||||||||
Winchester Place Nursing and Rehabilitation Center
|
Canal Winchester
|
OH
|
—
|
|
454
|
|
7,149
|
|
—
|
|
454
|
|
7,149
|
|
7,603
|
|
5,771
|
|
1,832
|
|
1974
|
1993
|
28 years
|
|||||||||
Franklin Woods Nursing and Rehabilitation Center
|
Columbus
|
OH
|
—
|
|
190
|
|
4,712
|
|
—
|
|
190
|
|
4,712
|
|
4,902
|
|
2,742
|
|
2,160
|
|
1986
|
1992
|
38 years
|
|||||||||
Lebanon Country Manor
|
Lebanon
|
OH
|
—
|
|
105
|
|
3,617
|
|
—
|
|
105
|
|
3,617
|
|
3,722
|
|
2,452
|
|
1,270
|
|
1984
|
1986
|
43 years
|
|||||||||
Logan Health Care Center
|
Logan
|
OH
|
—
|
|
169
|
|
3,750
|
|
—
|
|
169
|
|
3,750
|
|
3,919
|
|
2,833
|
|
1,086
|
|
1979
|
1991
|
30 years
|
|||||||||
Pickerington Nursing & Rehabilitation Center
|
Pickerington
|
OH
|
—
|
|
312
|
|
4,382
|
|
—
|
|
312
|
|
4,382
|
|
4,694
|
|
2,589
|
|
2,105
|
|
1984
|
1992
|
37 years
|
|||||||||
Sunnyside Care Center
|
Salem
|
OR
|
—
|
|
1,512
|
|
2,249
|
|
—
|
|
1,512
|
|
2,249
|
|
3,761
|
|
1,511
|
|
2,250
|
|
1981
|
1991
|
30 years
|
|||||||||
Wyomissing Nursing and Rehabilitation Center
|
Reading
|
PA
|
—
|
|
61
|
|
5,095
|
|
—
|
|
61
|
|
5,095
|
|
5,156
|
|
2,276
|
|
2,880
|
|
1966
|
1993
|
45 years
|
|||||||||
Oak Hill Nursing and Rehabilitation Center
|
Pawtucket
|
RI
|
—
|
|
91
|
|
6,724
|
|
—
|
|
91
|
|
6,724
|
|
6,815
|
|
3,044
|
|
3,771
|
|
1966
|
1990
|
45 years
|
|||||||||
Masters Health Care Center
|
Algood
|
TN
|
—
|
|
524
|
|
4,370
|
|
—
|
|
524
|
|
4,370
|
|
4,894
|
|
3,249
|
|
1,645
|
|
1981
|
1987
|
38 years
|
|||||||||
Wasatch Care Center
|
Ogden
|
UT
|
—
|
|
373
|
|
597
|
|
—
|
|
373
|
|
597
|
|
970
|
|
600
|
|
370
|
|
1964
|
1990
|
25 years
|
|||||||||
St. George Care and Rehabilitation Center
|
St. George
|
UT
|
—
|
|
419
|
|
4,465
|
|
—
|
|
419
|
|
4,465
|
|
4,884
|
|
3,004
|
|
1,880
|
|
1976
|
1993
|
29 years
|
|||||||||
Nansemond Pointe Rehabilitation and Healthcare Center
|
Suffolk
|
VA
|
—
|
|
534
|
|
6,990
|
|
—
|
|
534
|
|
6,990
|
|
7,524
|
|
4,923
|
|
2,601
|
|
1963
|
1991
|
32 years
|
|||||||||
River Pointe Rehabilitation and Healthcare Center
|
Virginia Beach
|
VA
|
—
|
|
770
|
|
4,440
|
|
—
|
|
770
|
|
4,440
|
|
5,210
|
|
4,051
|
|
1,159
|
|
1953
|
1991
|
25 years
|
|||||||||
Bay Pointe Medical and Rehabilitation Center
|
Virginia Beach
|
VA
|
—
|
|
805
|
|
2,886
|
|
(380
|
)
|
425
|
|
2,886
|
|
3,311
|
|
2,075
|
|
1,236
|
|
1971
|
1993
|
29 years
|
|||||||||
Birchwood Terrace Healthcare
|
Burlington
|
VT
|
—
|
|
15
|
|
4,656
|
|
—
|
|
15
|
|
4,656
|
|
4,671
|
|
4,317
|
|
354
|
|
1965
|
1990
|
27 years
|
|||||||||
Northwest Continuum Care Center
|
Longview
|
WA
|
—
|
|
145
|
|
2,563
|
|
—
|
|
145
|
|
2,563
|
|
2,708
|
|
1,932
|
|
776
|
|
1955
|
1992
|
29 years
|
|||||||||
Rainier Vista Care Center
|
Puyallup
|
WA
|
—
|
|
520
|
|
4,780
|
|
—
|
|
520
|
|
4,780
|
|
5,300
|
|
2,666
|
|
2,634
|
|
1986
|
1991
|
40 years
|
|||||||||
Arden Rehabilitation and Healthcare Center
|
Seattle
|
WA
|
—
|
|
1,111
|
|
4,013
|
|
—
|
|
1,111
|
|
4,013
|
|
5,124
|
|
2,956
|
|
2,168
|
|
1950
|
1993
|
28.5 years
|
|||||||||
Lakewood Healthcare Center
|
Tacoma
|
WA
|
—
|
|
504
|
|
3,511
|
|
—
|
|
504
|
|
3,511
|
|
4,015
|
|
2,165
|
|
1,850
|
|
1989
|
1989
|
45 years
|
|||||||||
Vancouver Health & Rehabilitation Center
|
Vancouver
|
WA
|
—
|
|
449
|
|
2,964
|
|
—
|
|
449
|
|
2,964
|
|
3,413
|
|
2,239
|
|
1,174
|
|
1970
|
1993
|
28 years
|
|||||||||
Eastview Medical and Rehabilitation Center
|
Antigo
|
WI
|
—
|
|
200
|
|
4,047
|
|
—
|
|
200
|
|
4,047
|
|
4,247
|
|
3,542
|
|
705
|
|
1962
|
1991
|
28 years
|
|||||||||
Mount Carmel Medical and Rehabilitation Center
|
Burlington
|
WI
|
—
|
|
274
|
|
7,205
|
|
—
|
|
274
|
|
7,205
|
|
7,479
|
|
4,868
|
|
2,611
|
|
1971
|
1991
|
30 years
|
|||||||||
San Luis Medical and Rehabilitation Center
|
Green Bay
|
WI
|
—
|
|
259
|
|
5,299
|
|
—
|
|
259
|
|
5,299
|
|
5,558
|
|
4,421
|
|
1,137
|
|
1968
|
1996
|
25 years
|
|||||||||
Sheridan Medical Complex
|
Kenosha
|
WI
|
—
|
|
282
|
|
4,910
|
|
—
|
|
282
|
|
4,910
|
|
5,192
|
|
4,336
|
|
856
|
|
1964
|
1991
|
25 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Willow Crossing Health & Rehab Center
|
Columbus
|
IN
|
—
|
|
880
|
|
4,963
|
|
—
|
|
880
|
|
4,963
|
|
5,843
|
|
480
|
|
5,363
|
|
1988
|
2011
|
35 years
|
|||||||||
Greenhill Manor
|
Fowler
|
IN
|
—
|
|
380
|
|
7,659
|
|
—
|
|
380
|
|
7,659
|
|
8,039
|
|
640
|
|
7,399
|
|
1973
|
2011
|
35 years
|
|||||||||
Twin City Healthcare
|
Gas City
|
IN
|
—
|
|
350
|
|
3,012
|
|
—
|
|
350
|
|
3,012
|
|
3,362
|
|
309
|
|
3,053
|
|
1974
|
2011
|
35 years
|
|||||||||
Hanover Nursing Center
|
Hanover
|
IN
|
—
|
|
1,070
|
|
3,903
|
|
—
|
|
1,070
|
|
3,903
|
|
4,973
|
|
458
|
|
4,515
|
|
1975
|
2011
|
35 years
|
|||||||||
Bridgewater Center for Health & Rehab
|
Hartford City
|
IN
|
—
|
|
470
|
|
1,855
|
|
—
|
|
470
|
|
1,855
|
|
2,325
|
|
241
|
|
2,084
|
|
1988
|
2011
|
35 years
|
|||||||||
Oakbrook Village
|
Huntington
|
IN
|
—
|
|
600
|
|
1,950
|
|
—
|
|
600
|
|
1,950
|
|
2,550
|
|
217
|
|
2,333
|
|
1987
|
2011
|
35 years
|
|||||||||
Lakeview Manor
|
Indianapolis
|
IN
|
—
|
|
2,780
|
|
7,927
|
|
—
|
|
2,780
|
|
7,927
|
|
10,707
|
|
806
|
|
9,901
|
|
1968
|
2011
|
35 years
|
|||||||||
Wintersong Village
|
Knox
|
IN
|
—
|
|
420
|
|
2,019
|
|
—
|
|
420
|
|
2,019
|
|
2,439
|
|
208
|
|
2,231
|
|
1984
|
2011
|
35 years
|
|||||||||
Woodland Hills Care Center
|
Lawrenceburg
|
IN
|
—
|
|
340
|
|
3,757
|
|
—
|
|
340
|
|
3,757
|
|
4,097
|
|
408
|
|
3,689
|
|
1966
|
2011
|
35 years
|
|||||||||
Parkwood Health Care Center
|
Lebanon
|
IN
|
—
|
|
121
|
|
4,512
|
|
721
|
|
121
|
|
5,233
|
|
5,354
|
|
3,730
|
|
1,624
|
|
1977
|
1993
|
25 years
|
|||||||||
Whispering Pines
|
Monticello
|
IN
|
—
|
|
460
|
|
8,461
|
|
—
|
|
460
|
|
8,461
|
|
8,921
|
|
715
|
|
8,206
|
|
1988
|
2011
|
35 years
|
|||||||||
Muncie Health & Rehabilitation Center
|
Muncie
|
IN
|
—
|
|
108
|
|
4,202
|
|
1,124
|
|
108
|
|
5,326
|
|
5,434
|
|
3,467
|
|
1,967
|
|
1980
|
1993
|
25 years
|
|||||||||
Willow Bend Living Center
|
Muncie
|
IN
|
—
|
|
1,080
|
|
4,026
|
|
—
|
|
1,080
|
|
4,026
|
|
5,106
|
|
374
|
|
4,732
|
|
1976
|
2011
|
35 years
|
|||||||||
Liberty Village
|
Muncie
|
IN
|
—
|
|
1,520
|
|
7,542
|
|
—
|
|
1,520
|
|
7,542
|
|
9,062
|
|
665
|
|
8,397
|
|
2001
|
2011
|
35 years
|
|||||||||
Petersburg Health Care Center
|
Petersburg
|
IN
|
—
|
|
310
|
|
8,443
|
|
—
|
|
310
|
|
8,443
|
|
8,753
|
|
732
|
|
8,021
|
|
1970
|
2011
|
35 years
|
|||||||||
Persimmon Ridge Center
|
Portland
|
IN
|
—
|
|
400
|
|
9,597
|
|
—
|
|
400
|
|
9,597
|
|
9,997
|
|
830
|
|
9,167
|
|
1964
|
2011
|
35 years
|
|||||||||
Oakridge Convalescent Center
|
Richmond
|
IN
|
—
|
|
640
|
|
11,128
|
|
—
|
|
640
|
|
11,128
|
|
11,768
|
|
968
|
|
10,800
|
|
1975
|
2011
|
35 years
|
|||||||||
Royal Oaks Health Care and Rehabilitation Center
|
Terre Haute
|
IN
|
—
|
|
418
|
|
5,779
|
|
1,044
|
|
428
|
|
6,813
|
|
7,241
|
|
2,590
|
|
4,651
|
|
1995
|
1995
|
45 years
|
|||||||||
Westridge Healthcare Center
|
Terre Haute
|
IN
|
—
|
|
690
|
|
5,384
|
|
—
|
|
690
|
|
5,384
|
|
6,074
|
|
482
|
|
5,592
|
|
1965
|
2011
|
35 years
|
|||||||||
Washington Nursing Center
|
Washington
|
IN
|
—
|
|
220
|
|
10,054
|
|
—
|
|
220
|
|
10,054
|
|
10,274
|
|
886
|
|
9,388
|
|
1968
|
2011
|
35 years
|
|||||||||
Pine Knoll Rehabilitation Center
|
Winchester
|
IN
|
—
|
|
730
|
|
6,039
|
|
—
|
|
730
|
|
6,039
|
|
6,769
|
|
516
|
|
6,253
|
|
1986
|
2011
|
35 years
|
|||||||||
Belleville Health Care Center
|
Belleville
|
KS
|
—
|
|
590
|
|
4,170
|
|
—
|
|
590
|
|
4,170
|
|
4,760
|
|
399
|
|
4,361
|
|
1977
|
2011
|
35 years
|
|||||||||
Oak Ridge Acres
|
Hiawatha
|
KS
|
—
|
|
350
|
|
590
|
|
—
|
|
350
|
|
590
|
|
940
|
|
104
|
|
836
|
|
1974
|
2011
|
35 years
|
|||||||||
Smokey Hill Rehab Center
|
Salina
|
KS
|
—
|
|
360
|
|
3,705
|
|
—
|
|
360
|
|
3,705
|
|
4,065
|
|
410
|
|
3,655
|
|
1981
|
2011
|
35 years
|
|||||||||
Westwood Manor
|
Topeka
|
KS
|
—
|
|
250
|
|
3,735
|
|
—
|
|
250
|
|
3,735
|
|
3,985
|
|
347
|
|
3,638
|
|
1973
|
2011
|
35 years
|
|||||||||
Infinia at Wichita
|
Wichita
|
KS
|
—
|
|
350
|
|
13,065
|
|
—
|
|
350
|
|
13,065
|
|
13,415
|
|
1,054
|
|
12,361
|
|
1965
|
2011
|
35 years
|
|||||||||
Jackson Manor
|
Annville
|
KY
|
—
|
|
131
|
|
4,442
|
|
—
|
|
131
|
|
4,442
|
|
4,573
|
|
909
|
|
3,664
|
|
1989
|
2006
|
35 years
|
|||||||||
Colonial Health & Rehabilitation Center
|
Bardstown
|
KY
|
—
|
|
38
|
|
2,829
|
|
—
|
|
38
|
|
2,829
|
|
2,867
|
|
579
|
|
2,288
|
|
1968
|
2006
|
35 years
|
|||||||||
Oakview Nursing and Rehabilitation Center
|
Calvert City
|
KY
|
—
|
|
124
|
|
2,882
|
|
787
|
|
124
|
|
3,669
|
|
3,793
|
|
2,280
|
|
1,513
|
|
1967
|
1990
|
30 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Green Valley Health & Rehabilitation Center
|
Carrollton
|
KY
|
—
|
|
29
|
|
2,325
|
|
—
|
|
29
|
|
2,325
|
|
2,354
|
|
476
|
|
1,878
|
|
1978
|
2006
|
35 years
|
|||||||||
Summit Manor Health & Rehabilitation Center
|
Columbia
|
KY
|
—
|
|
38
|
|
12,510
|
|
—
|
|
38
|
|
12,510
|
|
12,548
|
|
2,562
|
|
9,986
|
|
1965
|
2006
|
35 years
|
|||||||||
Glasgow Health & Rehabilitation Center
|
Glasgow
|
KY
|
—
|
|
21
|
|
2,997
|
|
—
|
|
21
|
|
2,997
|
|
3,018
|
|
614
|
|
2,404
|
|
1968
|
2006
|
35 years
|
|||||||||
Professional Care Health & Rehabilitation Center
|
Hartford
|
KY
|
—
|
|
22
|
|
7,905
|
|
—
|
|
22
|
|
7,905
|
|
7,927
|
|
1,619
|
|
6,308
|
|
1967
|
2006
|
35 years
|
|||||||||
Hart County Health Center
|
Horse Cave
|
KY
|
—
|
|
68
|
|
6,059
|
|
—
|
|
68
|
|
6,059
|
|
6,127
|
|
1,241
|
|
4,886
|
|
1993
|
2006
|
35 years
|
|||||||||
Heritage Hall Health & Rehabilitation Center
|
Lawrenceburg
|
KY
|
—
|
|
38
|
|
3,920
|
|
—
|
|
38
|
|
3,920
|
|
3,958
|
|
803
|
|
3,155
|
|
1973
|
2006
|
35 years
|
|||||||||
Tanbark Health & Rehabilitation Center
|
Lexington
|
KY
|
—
|
|
868
|
|
6,061
|
|
—
|
|
868
|
|
6,061
|
|
6,929
|
|
1,241
|
|
5,688
|
|
1989
|
2006
|
35 years
|
|||||||||
Northfield Centre for Health and Rehabilitation
|
Louisville
|
KY
|
—
|
|
285
|
|
1,555
|
|
583
|
|
285
|
|
2,138
|
|
2,423
|
|
1,354
|
|
1,069
|
|
1969
|
1985
|
30 years
|
|||||||||
Jefferson Manor
|
Louisville
|
KY
|
—
|
|
2,169
|
|
4,075
|
|
—
|
|
2,169
|
|
4,075
|
|
6,244
|
|
834
|
|
5,410
|
|
1982
|
2006
|
35 years
|
|||||||||
Jefferson Place
|
Louisville
|
KY
|
—
|
|
1,307
|
|
9,175
|
|
—
|
|
1,307
|
|
9,175
|
|
10,482
|
|
1,879
|
|
8,603
|
|
1991
|
2006
|
35 years
|
|||||||||
Meadowview Health & Rehabilitation Center
|
Louisville
|
KY
|
—
|
|
317
|
|
4,666
|
|
—
|
|
317
|
|
4,666
|
|
4,983
|
|
955
|
|
4,028
|
|
1973
|
2006
|
35 years
|
|||||||||
Rockford Health & Rehabilitation Center
|
Louisville
|
KY
|
—
|
|
364
|
|
9,568
|
|
—
|
|
364
|
|
9,568
|
|
9,932
|
|
1,959
|
|
7,973
|
|
1975
|
2006
|
35 years
|
|||||||||
Summerfield Health & Rehabilitation Center
|
Louisville
|
KY
|
—
|
|
1,089
|
|
10,756
|
|
—
|
|
1,089
|
|
10,756
|
|
11,845
|
|
2,202
|
|
9,643
|
|
1979
|
2006
|
35 years
|
|||||||||
McCreary Health & Rehabilitation Center
|
Pine Knot
|
KY
|
—
|
|
73
|
|
2,443
|
|
—
|
|
73
|
|
2,443
|
|
2,516
|
|
500
|
|
2,016
|
|
1990
|
2006
|
35 years
|
|||||||||
North Hardin Health & Rehabilitation Center
|
Radcliff
|
KY
|
—
|
|
218
|
|
11,944
|
|
—
|
|
218
|
|
11,944
|
|
12,162
|
|
2,446
|
|
9,716
|
|
1986
|
2006
|
35 years
|
|||||||||
Monroe Health & Rehabilitation Center
|
Tompkinsville
|
KY
|
—
|
|
32
|
|
8,756
|
|
—
|
|
32
|
|
8,756
|
|
8,788
|
|
1,793
|
|
6,995
|
|
1969
|
2006
|
35 years
|
|||||||||
Fountain Circle Health and Rehabilitation
|
Winchester
|
KY
|
—
|
|
137
|
|
6,120
|
|
707
|
|
137
|
|
6,827
|
|
6,964
|
|
4,817
|
|
2,147
|
|
1967
|
1990
|
30 years
|
|||||||||
Colony House Nursing and Rehabilitation Center
|
Abington
|
MA
|
—
|
|
132
|
|
999
|
|
194
|
|
132
|
|
1,193
|
|
1,325
|
|
1,108
|
|
217
|
|
1965
|
1969
|
40 years
|
|||||||||
Wingate at Andover
|
Andover
|
MA
|
—
|
|
1,450
|
|
14,798
|
|
—
|
|
1,450
|
|
14,798
|
|
16,248
|
|
1,288
|
|
14,960
|
|
1992
|
2011
|
35 years
|
|||||||||
Wingate at Brighton
|
Brighton
|
MA
|
—
|
|
1,070
|
|
7,383
|
|
—
|
|
1,070
|
|
7,383
|
|
8,453
|
|
733
|
|
7,720
|
|
1995
|
2011
|
35 years
|
|||||||||
Sachem Skilled Nursing & Rehabilitation Center
|
East Bridgewater
|
MA
|
—
|
|
529
|
|
1,238
|
|
232
|
|
529
|
|
1,470
|
|
1,999
|
|
1,589
|
|
410
|
|
1968
|
1982
|
27 years
|
|||||||||
Chestnut Hill Rehab & Nursing
|
East Longmeadow
|
MA
|
—
|
|
3,050
|
|
5,392
|
|
—
|
|
3,050
|
|
5,392
|
|
8,442
|
|
576
|
|
7,866
|
|
1985
|
2011
|
35 years
|
|||||||||
Wingate at Haverhill
|
Haverhill
|
MA
|
—
|
|
810
|
|
9,288
|
|
—
|
|
810
|
|
9,288
|
|
10,098
|
|
884
|
|
9,214
|
|
1973
|
2011
|
35 years
|
|||||||||
Skilled Care Center at Silver Lake
|
Kingston
|
MA
|
—
|
|
3,230
|
|
19,870
|
|
—
|
|
3,230
|
|
19,870
|
|
23,100
|
|
1,864
|
|
21,236
|
|
1992
|
2011
|
35 years
|
|||||||||
Wentworth Skilled Care Center
|
Lowell
|
MA
|
—
|
|
820
|
|
11,220
|
|
—
|
|
820
|
|
11,220
|
|
12,040
|
|
966
|
|
11,074
|
|
1966
|
2011
|
35 years
|
|||||||||
Bolton Manor Nursing and Rehabilitation Center
|
Marlborough
|
MA
|
—
|
|
222
|
|
2,431
|
|
228
|
|
222
|
|
2,659
|
|
2,881
|
|
2,142
|
|
739
|
|
1973
|
1984
|
34.5 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
The Eliot Healthcare Center
|
Natick
|
MA
|
—
|
|
249
|
|
1,328
|
|
230
|
|
249
|
|
1,558
|
|
1,807
|
|
1,395
|
|
412
|
|
1996
|
1982
|
31 years
|
|||||||||
Wingate at Needham
|
Needham Heights
|
MA
|
—
|
|
920
|
|
9,236
|
|
—
|
|
920
|
|
9,236
|
|
10,156
|
|
881
|
|
9,275
|
|
1996
|
2011
|
35 years
|
|||||||||
Country Rehabilitation and Nursing Center
|
Newburyport
|
MA
|
—
|
|
199
|
|
3,004
|
|
378
|
|
199
|
|
3,382
|
|
3,581
|
|
2,820
|
|
761
|
|
1968
|
1982
|
27 years
|
|||||||||
Wingate at Reading
|
Reading
|
MA
|
—
|
|
920
|
|
7,499
|
|
—
|
|
920
|
|
7,499
|
|
8,419
|
|
726
|
|
7,693
|
|
1988
|
2011
|
35 years
|
|||||||||
Wingate at South Hadley
|
South Hadley
|
MA
|
—
|
|
1,870
|
|
15,572
|
|
—
|
|
1,870
|
|
15,572
|
|
17,442
|
|
1,331
|
|
16,111
|
|
1988
|
2011
|
35 years
|
|||||||||
Ring East
|
Springfield
|
MA
|
—
|
|
1,250
|
|
13,561
|
|
—
|
|
1,250
|
|
13,561
|
|
14,811
|
|
1,212
|
|
13,599
|
|
1987
|
2011
|
35 years
|
|||||||||
Wingate at Sudbury
|
Sudbury
|
MA
|
—
|
|
1,540
|
|
8,100
|
|
—
|
|
1,540
|
|
8,100
|
|
9,640
|
|
827
|
|
8,813
|
|
1997
|
2011
|
35 years
|
|||||||||
Newton and Wellesley Alzheimer Center
|
Wellesley
|
MA
|
—
|
|
297
|
|
3,250
|
|
172
|
|
297
|
|
3,422
|
|
3,719
|
|
2,882
|
|
837
|
|
1971
|
1984
|
30 years
|
|||||||||
Riverdale Gardens Rehab & Nursing
|
West Springfield
|
MA
|
—
|
|
2,140
|
|
6,997
|
|
107
|
|
2,140
|
|
7,104
|
|
9,244
|
|
828
|
|
8,416
|
|
1960
|
2011
|
35 years
|
|||||||||
Wingate at Wilbraham
|
Wilbraham
|
MA
|
—
|
|
4,070
|
|
10,777
|
|
—
|
|
4,070
|
|
10,777
|
|
14,847
|
|
1,008
|
|
13,839
|
|
1988
|
2011
|
35 years
|
|||||||||
Worcester Skilled Care Center
|
Worcester
|
MA
|
—
|
|
620
|
|
10,958
|
|
—
|
|
620
|
|
10,958
|
|
11,578
|
|
1,039
|
|
10,539
|
|
1970
|
2011
|
35 years
|
|||||||||
Cumberland Villa Nursing Center
|
Cumberland
|
MD
|
—
|
|
660
|
|
23,970
|
|
—
|
|
660
|
|
23,970
|
|
24,630
|
|
1,905
|
|
22,725
|
|
1968
|
2011
|
35 years
|
|||||||||
Colton Villa
|
Hagerstown
|
MD
|
—
|
|
1,550
|
|
16,973
|
|
—
|
|
1,550
|
|
16,973
|
|
18,523
|
|
1,436
|
|
17,087
|
|
1971
|
2011
|
35 years
|
|||||||||
Westminster Nursing & Convalescent Center
|
Westminster
|
MD
|
—
|
|
2,160
|
|
15,931
|
|
—
|
|
2,160
|
|
15,931
|
|
18,091
|
|
1,347
|
|
16,744
|
|
1973
|
2011
|
35 years
|
|||||||||
Augusta Rehabilitation Center
|
Augusta
|
ME
|
—
|
|
152
|
|
1,074
|
|
146
|
|
152
|
|
1,220
|
|
1,372
|
|
1,057
|
|
315
|
|
1968
|
1985
|
30 years
|
|||||||||
Eastside Rehabilitation and Living Center
|
Bangor
|
ME
|
—
|
|
316
|
|
1,349
|
|
134
|
|
316
|
|
1,483
|
|
1,799
|
|
1,278
|
|
521
|
|
1967
|
1985
|
30 years
|
|||||||||
Winship Green Nursing Center
|
Bath
|
ME
|
—
|
|
110
|
|
1,455
|
|
128
|
|
110
|
|
1,583
|
|
1,693
|
|
1,256
|
|
437
|
|
1974
|
1985
|
35 years
|
|||||||||
Brewer Rehabilitation and Living Center
|
Brewer
|
ME
|
—
|
|
228
|
|
2,737
|
|
304
|
|
228
|
|
3,041
|
|
3,269
|
|
2,260
|
|
1,009
|
|
1974
|
1985
|
33 years
|
|||||||||
Kennebunk Nursing and Rehabilitation Center
|
Kennebunk
|
ME
|
—
|
|
99
|
|
1,898
|
|
161
|
|
99
|
|
2,059
|
|
2,158
|
|
1,515
|
|
643
|
|
1977
|
1985
|
35 years
|
|||||||||
Norway Rehabilitation & Living Center
|
Norway
|
ME
|
—
|
|
133
|
|
1,658
|
|
118
|
|
133
|
|
1,776
|
|
1,909
|
|
1,310
|
|
599
|
|
1972
|
1985
|
39 years
|
|||||||||
Brentwood Rehabilitation and Nursing Center
|
Yarmouth
|
ME
|
—
|
|
181
|
|
2,789
|
|
146
|
|
181
|
|
2,935
|
|
3,116
|
|
2,261
|
|
855
|
|
1945
|
1985
|
45 years
|
|||||||||
Autumn Woods Residential Health Care Facility
|
Warren
|
MI
|
—
|
|
1,495
|
|
26,015
|
|
—
|
|
1,495
|
|
26,015
|
|
27,510
|
|
1,273
|
|
26,237
|
|
2012
|
2012
|
35 years
|
|||||||||
Hopkins Healthcare
|
Hopkins
|
MN
|
—
|
|
4,470
|
|
21,409
|
|
—
|
|
4,470
|
|
21,409
|
|
25,879
|
|
1,744
|
|
24,135
|
|
1961
|
2011
|
35 years
|
|||||||||
Andrew Care Home
|
Minneapolis
|
MN
|
—
|
|
3,280
|
|
5,083
|
|
80
|
|
3,280
|
|
5,163
|
|
8,443
|
|
745
|
|
7,698
|
|
1941
|
2011
|
35 years
|
|||||||||
Golden Living Center - Rochester East
|
Rochester
|
MN
|
—
|
|
639
|
|
3,497
|
|
—
|
|
639
|
|
3,497
|
|
4,136
|
|
3,558
|
|
578
|
|
1967
|
1982
|
28 years
|
|||||||||
Ashland Healthcare
|
Ashland
|
MO
|
—
|
|
770
|
|
4,400
|
|
—
|
|
770
|
|
4,400
|
|
5,170
|
|
396
|
|
4,774
|
|
1993
|
2011
|
35 years
|
|||||||||
South Hampton Place
|
Columbia
|
MO
|
—
|
|
710
|
|
11,279
|
|
—
|
|
710
|
|
11,279
|
|
11,989
|
|
943
|
|
11,046
|
|
1994
|
2011
|
35 years
|
|||||||||
Dixon Nursing & Rehab
|
Dixon
|
MO
|
—
|
|
570
|
|
3,342
|
|
—
|
|
570
|
|
3,342
|
|
3,912
|
|
321
|
|
3,591
|
|
1989
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Current River Nursing
|
Doniphan
|
MO
|
—
|
|
450
|
|
7,703
|
|
—
|
|
450
|
|
7,703
|
|
8,153
|
|
709
|
|
7,444
|
|
1991
|
2011
|
35 years
|
|||||||||
Forsyth Care Center
|
Forsyth
|
MO
|
—
|
|
710
|
|
6,731
|
|
—
|
|
710
|
|
6,731
|
|
7,441
|
|
644
|
|
6,797
|
|
1993
|
2011
|
35 years
|
|||||||||
Maryville Health Care Center
|
Maryville
|
MO
|
—
|
|
630
|
|
5,825
|
|
—
|
|
630
|
|
5,825
|
|
6,455
|
|
564
|
|
5,891
|
|
1972
|
2011
|
35 years
|
|||||||||
Glenwood Healthcare
|
Seymour
|
MO
|
—
|
|
670
|
|
3,737
|
|
—
|
|
670
|
|
3,737
|
|
4,407
|
|
349
|
|
4,058
|
|
1990
|
2011
|
35 years
|
|||||||||
Silex Community Care
|
Silex
|
MO
|
—
|
|
730
|
|
2,689
|
|
—
|
|
730
|
|
2,689
|
|
3,419
|
|
276
|
|
3,143
|
|
1991
|
2011
|
35 years
|
|||||||||
Gravios Nursing Center
|
St. Louis
|
MO
|
—
|
|
1,560
|
|
10,582
|
|
—
|
|
1,560
|
|
10,582
|
|
12,142
|
|
996
|
|
11,146
|
|
1954
|
2011
|
35 years
|
|||||||||
Bellefontaine Gardens
|
St. Louis
|
MO
|
—
|
|
1,610
|
|
4,314
|
|
—
|
|
1,610
|
|
4,314
|
|
5,924
|
|
451
|
|
5,473
|
|
1988
|
2011
|
35 years
|
|||||||||
Strafford Care Center
|
Strafford
|
MO
|
—
|
|
1,670
|
|
8,251
|
|
—
|
|
1,670
|
|
8,251
|
|
9,921
|
|
700
|
|
9,221
|
|
1995
|
2011
|
35 years
|
|||||||||
Windsor Healthcare
|
Windsor
|
MO
|
—
|
|
510
|
|
3,345
|
|
—
|
|
510
|
|
3,345
|
|
3,855
|
|
321
|
|
3,534
|
|
1996
|
2011
|
35 years
|
|||||||||
Chapel Hill Rehabilitation and Healthcare Center
|
Chapel Hill
|
NC
|
—
|
|
347
|
|
3,029
|
|
429
|
|
347
|
|
3,458
|
|
3,805
|
|
2,330
|
|
1,475
|
|
1984
|
1993
|
28 years
|
|||||||||
Rehabilitation and Health Center of Gastonia
|
Gastonia
|
NC
|
—
|
|
158
|
|
2,359
|
|
422
|
|
158
|
|
2,781
|
|
2,939
|
|
1,834
|
|
1,105
|
|
1968
|
1992
|
29 years
|
|||||||||
Lakewood Manor
|
Hendersonville
|
NC
|
—
|
|
1,610
|
|
7,759
|
|
—
|
|
1,610
|
|
7,759
|
|
9,369
|
|
742
|
|
8,627
|
|
1979
|
2011
|
35 years
|
|||||||||
Kinston Rehabilitation and Healthcare Center
|
Kinston
|
NC
|
—
|
|
186
|
|
3,038
|
|
442
|
|
186
|
|
3,480
|
|
3,666
|
|
2,184
|
|
1,482
|
|
1961
|
1993
|
29 years
|
|||||||||
Guardian Care of Roanoke Rapids
|
Roanoke Rapids
|
NC
|
—
|
|
339
|
|
4,132
|
|
504
|
|
339
|
|
4,636
|
|
4,975
|
|
3,661
|
|
1,314
|
|
1967
|
1991
|
25 years
|
|||||||||
Dover Rehabilitation and Living Center
|
Dover
|
NH
|
—
|
|
355
|
|
3,797
|
|
217
|
|
355
|
|
4,014
|
|
4,369
|
|
3,680
|
|
689
|
|
1969
|
1990
|
25 years
|
|||||||||
Lopatcong Center
|
Phillipsburg
|
NJ
|
—
|
|
1,490
|
|
12,336
|
|
—
|
|
1,490
|
|
12,336
|
|
13,826
|
|
4,463
|
|
9,363
|
|
1982
|
2004
|
30 years
|
|||||||||
Las Vegas Healthcare and Rehabilitation Center
|
Las Vegas
|
NV
|
—
|
|
454
|
|
1,018
|
|
187
|
|
454
|
|
1,205
|
|
1,659
|
|
674
|
|
985
|
|
1940
|
1992
|
30 years
|
|||||||||
Torrey Pines Care Center
|
Las Vegas
|
NV
|
—
|
|
256
|
|
1,324
|
|
270
|
|
256
|
|
1,594
|
|
1,850
|
|
1,104
|
|
746
|
|
1971
|
1992
|
29 years
|
|||||||||
Wingate at St. Francis
|
Beacon
|
NY
|
—
|
|
1,900
|
|
18,115
|
|
—
|
|
1,900
|
|
18,115
|
|
20,015
|
|
1,553
|
|
18,462
|
|
2002
|
2011
|
35 years
|
|||||||||
Garden Gate
|
Cheektowaga
|
NY
|
—
|
|
760
|
|
15,643
|
|
30
|
|
760
|
|
15,673
|
|
16,433
|
|
1,378
|
|
15,055
|
|
1979
|
2011
|
35 years
|
|||||||||
Brookhaven
|
East Patchogue
|
NY
|
—
|
|
1,100
|
|
25,840
|
|
30
|
|
1,100
|
|
25,870
|
|
26,970
|
|
2,068
|
|
24,902
|
|
1988
|
2011
|
35 years
|
|||||||||
Wingate at Dutchess
|
Fishkill
|
NY
|
—
|
|
1,300
|
|
19,685
|
|
—
|
|
1,300
|
|
19,685
|
|
20,985
|
|
1,670
|
|
19,315
|
|
1996
|
2011
|
35 years
|
|||||||||
Autumn View
|
Hamburg
|
NY
|
—
|
|
1,190
|
|
24,687
|
|
34
|
|
1,190
|
|
24,721
|
|
25,911
|
|
2,072
|
|
23,839
|
|
1983
|
2011
|
35 years
|
|||||||||
Wingate at Ulster
|
Highland
|
NY
|
—
|
|
1,500
|
|
18,223
|
|
—
|
|
1,500
|
|
18,223
|
|
19,723
|
|
1,488
|
|
18,235
|
|
1998
|
2011
|
35 years
|
|||||||||
North Gate
|
North Tonawanda
|
NY
|
—
|
|
1,010
|
|
14,801
|
|
40
|
|
1,010
|
|
14,841
|
|
15,851
|
|
1,335
|
|
14,516
|
|
1982
|
2011
|
35 years
|
|||||||||
Seneca
|
West Seneca
|
NY
|
—
|
|
1,400
|
|
13,491
|
|
5
|
|
1,400
|
|
13,496
|
|
14,896
|
|
1,181
|
|
13,715
|
|
1974
|
2011
|
35 years
|
|||||||||
Harris Hill
|
Williamsville
|
NY
|
—
|
|
1,240
|
|
33,574
|
|
33
|
|
1,240
|
|
33,607
|
|
34,847
|
|
2,673
|
|
32,174
|
|
1992
|
2011
|
35 years
|
|||||||||
Chillicothe Nursing & Rehabilitation Center
|
Chillicothe
|
OH
|
—
|
|
128
|
|
3,481
|
|
312
|
|
128
|
|
3,793
|
|
3,921
|
|
2,965
|
|
956
|
|
1976
|
1985
|
34 years
|
|||||||||
Burlington House
|
Cincinnati
|
OH
|
—
|
|
918
|
|
5,087
|
|
—
|
|
918
|
|
5,087
|
|
6,005
|
|
1,615
|
|
4,390
|
|
1989
|
2004
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Minerva Park Nursing and Rehabilitation Center
|
Columbus
|
OH
|
—
|
|
210
|
|
3,684
|
|
339
|
|
210
|
|
4,023
|
|
4,233
|
|
1,617
|
|
2,616
|
|
1973
|
1997
|
45 years
|
|||||||||
Regency Manor
|
Columbus
|
OH
|
—
|
|
606
|
|
16,424
|
|
401
|
|
606
|
|
16,825
|
|
17,431
|
|
10,833
|
|
6,598
|
|
1883
|
2004
|
35 years
|
|||||||||
Coshocton Health & Rehabilitation Center
|
Coshocton
|
OH
|
—
|
|
203
|
|
1,979
|
|
324
|
|
203
|
|
2,303
|
|
2,506
|
|
1,655
|
|
851
|
|
1974
|
1993
|
25 years
|
|||||||||
Olentangy Woods
|
Galion
|
OH
|
—
|
|
540
|
|
6,324
|
|
(1,872
|
)
|
540
|
|
4,452
|
|
4,992
|
|
437
|
|
4,555
|
|
1967
|
2011
|
35 years
|
|||||||||
Marietta Convalescent Center
|
Marietta
|
OH
|
—
|
|
158
|
|
3,266
|
|
75
|
|
158
|
|
3,341
|
|
3,499
|
|
2,780
|
|
719
|
|
1972
|
1993
|
25 years
|
|||||||||
Renaissance North
|
Warren
|
OH
|
—
|
|
1,100
|
|
8,196
|
|
(3,831
|
)
|
1,059
|
|
4,406
|
|
5,465
|
|
4,566
|
|
899
|
|
1967
|
2011
|
35 years
|
|||||||||
Country Glenn
|
Washington Court House
|
OH
|
—
|
|
490
|
|
13,460
|
|
(1,700
|
)
|
490
|
|
11,760
|
|
12,250
|
|
972
|
|
11,278
|
|
1984
|
2011
|
35 years
|
|||||||||
Willow Park Health Care Center
|
Lawton
|
OK
|
—
|
|
300
|
|
12,164
|
|
—
|
|
300
|
|
12,164
|
|
12,464
|
|
5,920
|
|
6,544
|
|
1985
|
2011
|
35 years
|
|||||||||
Temple Manor Nursing Home
|
Temple
|
OK
|
—
|
|
300
|
|
1,779
|
|
—
|
|
300
|
|
1,779
|
|
2,079
|
|
191
|
|
1,888
|
|
1971
|
2011
|
35 years
|
|||||||||
Tuttle Care Center
|
Tuttle
|
OK
|
—
|
|
150
|
|
1,377
|
|
—
|
|
150
|
|
1,377
|
|
1,527
|
|
167
|
|
1,360
|
|
1960
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Coos Bay
|
Coos Bay
|
OR
|
—
|
|
1,920
|
|
3,394
|
|
—
|
|
1,920
|
|
3,394
|
|
5,314
|
|
332
|
|
4,982
|
|
1968
|
2011
|
35 years
|
|||||||||
Avamere Riverpark of Eugene
|
Eugene
|
OR
|
—
|
|
1,960
|
|
17,622
|
|
—
|
|
1,960
|
|
17,622
|
|
19,582
|
|
1,437
|
|
18,145
|
|
1988
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Eugene
|
Eugene
|
OR
|
—
|
|
1,080
|
|
7,257
|
|
—
|
|
1,080
|
|
7,257
|
|
8,337
|
|
646
|
|
7,691
|
|
1966
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Clackamas
|
Gladstone
|
OR
|
—
|
|
820
|
|
3,844
|
|
—
|
|
820
|
|
3,844
|
|
4,664
|
|
362
|
|
4,302
|
|
1961
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Hillsboro
|
Hillsboro
|
OR
|
—
|
|
1,390
|
|
8,628
|
|
—
|
|
1,390
|
|
8,628
|
|
10,018
|
|
754
|
|
9,264
|
|
1973
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Junction City
|
Junction City
|
OR
|
—
|
|
590
|
|
5,583
|
|
—
|
|
590
|
|
5,583
|
|
6,173
|
|
480
|
|
5,693
|
|
1966
|
2011
|
35 years
|
|||||||||
Avamere Rehab of King City
|
King City
|
OR
|
—
|
|
1,290
|
|
10,646
|
|
—
|
|
1,290
|
|
10,646
|
|
11,936
|
|
892
|
|
11,044
|
|
1975
|
2011
|
35 years
|
|||||||||
Avamere Rehab of Lebanon
|
Lebanon
|
OR
|
—
|
|
980
|
|
12,954
|
|
—
|
|
980
|
|
12,954
|
|
13,934
|
|
1,050
|
|
12,884
|
|
1974
|
2011
|
35 years
|
|||||||||
Medford Rehabilitation and Healthcare Center
|
Medford
|
OR
|
—
|
|
362
|
|
4,610
|
|
205
|
|
362
|
|
4,815
|
|
5,177
|
|
3,491
|
|
1,686
|
|
1961
|
1991
|
34 years
|
|||||||||
Newport Rehabilitation & Specialty Care Center
|
Newport
|
OR
|
—
|
|
380
|
|
3,420
|
|
775
|
|
380
|
|
4,195
|
|
4,575
|
|
319
|
|
4,256
|
|
1997
|
2011
|
35 years
|
|||||||||
Mountain View
|
Oregon City
|
OR
|
—
|
|
1,056
|
|
6,831
|
|
—
|
|
1,056
|
|
6,831
|
|
7,887
|
|
336
|
|
7,551
|
|
1977
|
2012
|
35 years
|
|||||||||
Avamere Crestview of Portland
|
Portland
|
OR
|
—
|
|
1,610
|
|
13,942
|
|
—
|
|
1,610
|
|
13,942
|
|
15,552
|
|
1,152
|
|
14,400
|
|
1964
|
2011
|
35 years
|
|||||||||
Avamere Twin Oaks of Sweet Home
|
Sweet Home
|
OR
|
—
|
|
290
|
|
4,536
|
|
—
|
|
290
|
|
4,536
|
|
4,826
|
|
386
|
|
4,440
|
|
1972
|
2011
|
35 years
|
|||||||||
Balanced Care at Bloomsburg
|
Bloomsburg
|
PA
|
—
|
|
621
|
|
1,371
|
|
—
|
|
621
|
|
1,371
|
|
1,992
|
|
281
|
|
1,711
|
|
1997
|
2006
|
35 years
|
|||||||||
The Belvedere
|
Chester
|
PA
|
—
|
|
822
|
|
7,203
|
|
—
|
|
822
|
|
7,203
|
|
8,025
|
|
2,593
|
|
5,432
|
|
1899
|
2004
|
30 years
|
|||||||||
Mountain View Nursing Home
|
Greensburg
|
PA
|
—
|
|
580
|
|
12,817
|
|
—
|
|
580
|
|
12,817
|
|
13,397
|
|
1,116
|
|
12,281
|
|
1971
|
2011
|
35 years
|
|||||||||
Pennsburg Manor
|
Pennsburg
|
PA
|
—
|
|
1,091
|
|
7,871
|
|
—
|
|
1,091
|
|
7,871
|
|
8,962
|
|
2,898
|
|
6,064
|
|
1982
|
2004
|
30 years
|
|||||||||
Chapel Manor
|
Philadelphia
|
PA
|
—
|
|
1,595
|
|
13,982
|
|
1,358
|
|
1,595
|
|
15,340
|
|
16,935
|
|
5,344
|
|
11,591
|
|
1948
|
2004
|
30 years
|
|||||||||
Wayne Center
|
Strafford
|
PA
|
—
|
|
662
|
|
6,872
|
|
850
|
|
662
|
|
7,722
|
|
8,384
|
|
2,841
|
|
5,543
|
|
1875
|
2004
|
30 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Epic- Bayview
|
Beaufort
|
SC
|
—
|
|
890
|
|
14,311
|
|
—
|
|
890
|
|
14,311
|
|
15,201
|
|
1,266
|
|
13,935
|
|
1970
|
2011
|
35 years
|
|||||||||
Dundee Nursing Home
|
Bennettsville
|
SC
|
—
|
|
320
|
|
8,693
|
|
—
|
|
320
|
|
8,693
|
|
9,013
|
|
768
|
|
8,245
|
|
1958
|
2011
|
35 years
|
|||||||||
Epic-Conway
|
Conway
|
SC
|
—
|
|
1,090
|
|
16,880
|
|
—
|
|
1,090
|
|
16,880
|
|
17,970
|
|
1,459
|
|
16,511
|
|
1975
|
2011
|
35 years
|
|||||||||
Mt. Pleasant Nursing Center
|
Mount Pleasant
|
SC
|
—
|
|
1,810
|
|
9,079
|
|
—
|
|
1,810
|
|
9,079
|
|
10,889
|
|
827
|
|
10,062
|
|
1977
|
2011
|
35 years
|
|||||||||
Firesteel
|
Mitchell
|
SD
|
—
|
|
690
|
|
15,360
|
|
—
|
|
690
|
|
15,360
|
|
16,050
|
|
1,303
|
|
14,747
|
|
1966
|
2011
|
35 years
|
|||||||||
Fountain Springs Healthcare Center
|
Rapid City
|
SD
|
—
|
|
940
|
|
28,647
|
|
—
|
|
940
|
|
28,647
|
|
29,587
|
|
2,198
|
|
27,389
|
|
1989
|
2011
|
35 years
|
|||||||||
Brookewood Health Care Center
|
Decatur
|
TN
|
—
|
|
470
|
|
4,617
|
|
—
|
|
470
|
|
4,617
|
|
5,087
|
|
447
|
|
4,640
|
|
1981
|
2011
|
35 years
|
|||||||||
Tri-State Comp Care Center
|
Harrogate
|
TN
|
—
|
|
1,520
|
|
11,515
|
|
—
|
|
1,520
|
|
11,515
|
|
13,035
|
|
974
|
|
12,061
|
|
1990
|
2011
|
35 years
|
|||||||||
Madison Healthcare and Rehabilitation Center
|
Madison
|
TN
|
—
|
|
168
|
|
1,445
|
|
269
|
|
168
|
|
1,714
|
|
1,882
|
|
1,124
|
|
758
|
|
1968
|
1992
|
29 years
|
|||||||||
Primacy Healthcare and Rehabilitation Center
|
Memphis
|
TN
|
—
|
|
1,222
|
|
8,344
|
|
294
|
|
1,222
|
|
8,638
|
|
9,860
|
|
5,547
|
|
4,313
|
|
1980
|
1990
|
37 years
|
|||||||||
Green Acres - Baytown
|
Baytown
|
TX
|
—
|
|
490
|
|
9,104
|
|
—
|
|
490
|
|
9,104
|
|
9,594
|
|
765
|
|
8,829
|
|
1970
|
2011
|
35 years
|
|||||||||
Allenbrook Healthcare
|
Baytown
|
TX
|
—
|
|
470
|
|
11,304
|
|
—
|
|
470
|
|
11,304
|
|
11,774
|
|
961
|
|
10,813
|
|
1975
|
2011
|
35 years
|
|||||||||
Summer Place Nursing and Rehab
|
Beaumont
|
TX
|
—
|
|
1,160
|
|
15,934
|
|
—
|
|
1,160
|
|
15,934
|
|
17,094
|
|
1,337
|
|
15,757
|
|
2009
|
2011
|
35 years
|
|||||||||
Green Acres - Center
|
Center
|
TX
|
—
|
|
200
|
|
5,446
|
|
—
|
|
200
|
|
5,446
|
|
5,646
|
|
510
|
|
5,136
|
|
1972
|
2011
|
35 years
|
|||||||||
Regency Nursing Home
|
Clarksville
|
TX
|
—
|
|
380
|
|
8,711
|
|
—
|
|
380
|
|
8,711
|
|
9,091
|
|
781
|
|
8,310
|
|
1989
|
2011
|
35 years
|
|||||||||
Park Manor - Conroe
|
Conroe
|
TX
|
—
|
|
1,310
|
|
22,318
|
|
—
|
|
1,310
|
|
22,318
|
|
23,628
|
|
1,759
|
|
21,869
|
|
2001
|
2011
|
35 years
|
|||||||||
Trisun Care Center Westwood
|
Corpus Christi
|
TX
|
—
|
|
440
|
|
8,624
|
|
—
|
|
440
|
|
8,624
|
|
9,064
|
|
741
|
|
8,323
|
|
1973
|
2011
|
35 years
|
|||||||||
Trisun Care Center River Ridge
|
Corpus Christi
|
TX
|
—
|
|
890
|
|
7,695
|
|
—
|
|
890
|
|
7,695
|
|
8,585
|
|
706
|
|
7,879
|
|
1994
|
2011
|
35 years
|
|||||||||
Heritage Oaks West
|
Corsicana
|
TX
|
—
|
|
510
|
|
15,806
|
|
—
|
|
510
|
|
15,806
|
|
16,316
|
|
1,320
|
|
14,996
|
|
1995
|
2011
|
35 years
|
|||||||||
Park Manor
|
DeSoto
|
TX
|
—
|
|
1,080
|
|
14,484
|
|
—
|
|
1,080
|
|
14,484
|
|
15,564
|
|
1,240
|
|
14,324
|
|
1987
|
2011
|
35 years
|
|||||||||
Hill Country Care
|
Dripping Springs
|
TX
|
—
|
|
740
|
|
3,973
|
|
16
|
|
756
|
|
3,973
|
|
4,729
|
|
371
|
|
4,358
|
|
1986
|
2011
|
35 years
|
|||||||||
Sandstone Ranch
|
El Paso
|
TX
|
—
|
|
1,580
|
|
8,396
|
|
—
|
|
1,580
|
|
8,396
|
|
9,976
|
|
1,066
|
|
8,910
|
|
2010
|
2011
|
35 years
|
|||||||||
Pecan Tree Rehab & Healthcare
|
Gainesville
|
TX
|
—
|
|
430
|
|
11,499
|
|
—
|
|
430
|
|
11,499
|
|
11,929
|
|
984
|
|
10,945
|
|
1990
|
2011
|
35 years
|
|||||||||
Pleasant Valley Health & Rehab
|
Garland
|
TX
|
—
|
|
1,040
|
|
9,383
|
|
—
|
|
1,040
|
|
9,383
|
|
10,423
|
|
856
|
|
9,567
|
|
2008
|
2011
|
35 years
|
|||||||||
Upshur Manor
|
Gilmer
|
TX
|
—
|
|
770
|
|
8,126
|
|
—
|
|
770
|
|
8,126
|
|
8,896
|
|
728
|
|
8,168
|
|
1990
|
2011
|
35 years
|
|||||||||
Beechnut Manor
|
Houston
|
TX
|
—
|
|
1,080
|
|
12,030
|
|
—
|
|
1,080
|
|
12,030
|
|
13,110
|
|
1,053
|
|
12,057
|
|
1982
|
2011
|
35 years
|
|||||||||
Park Manor - Cypress Station
|
Houston
|
TX
|
—
|
|
1,450
|
|
19,542
|
|
—
|
|
1,450
|
|
19,542
|
|
20,992
|
|
1,569
|
|
19,423
|
|
2003
|
2011
|
35 years
|
|||||||||
Park Manor of Westchase
|
Houston
|
TX
|
—
|
|
2,760
|
|
16,715
|
|
—
|
|
2,760
|
|
16,715
|
|
19,475
|
|
1,369
|
|
18,106
|
|
2005
|
2011
|
35 years
|
|||||||||
Park Manor - Cyfair
|
Houston
|
TX
|
—
|
|
1,720
|
|
14,717
|
|
—
|
|
1,720
|
|
14,717
|
|
16,437
|
|
1,212
|
|
15,225
|
|
1999
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Green Acres - Humble
|
Humble
|
TX
|
—
|
|
2,060
|
|
6,738
|
|
—
|
|
2,060
|
|
6,738
|
|
8,798
|
|
643
|
|
8,155
|
|
1972
|
2011
|
35 years
|
|||||||||
Park Manor - Humble
|
Humble
|
TX
|
—
|
|
1,650
|
|
17,257
|
|
—
|
|
1,650
|
|
17,257
|
|
18,907
|
|
1,406
|
|
17,501
|
|
2003
|
2011
|
35 years
|
|||||||||
Green Acres - Huntsville
|
Huntsville
|
TX
|
—
|
|
290
|
|
2,568
|
|
—
|
|
290
|
|
2,568
|
|
2,858
|
|
296
|
|
2,562
|
|
1968
|
2011
|
35 years
|
|||||||||
Legend Oaks Healthcare
|
Jacksonville
|
TX
|
—
|
|
760
|
|
9,639
|
|
—
|
|
760
|
|
9,639
|
|
10,399
|
|
846
|
|
9,553
|
|
2006
|
2011
|
35 years
|
|||||||||
Avalon Kirbyville
|
Kirbyville
|
TX
|
—
|
|
260
|
|
7,713
|
|
—
|
|
260
|
|
7,713
|
|
7,973
|
|
700
|
|
7,273
|
|
1987
|
2011
|
35 years
|
|||||||||
Millbrook Healthcare
|
Lancaster
|
TX
|
—
|
|
750
|
|
7,480
|
|
—
|
|
750
|
|
7,480
|
|
8,230
|
|
722
|
|
7,508
|
|
2008
|
2011
|
35 years
|
|||||||||
Nexion Health at Linden
|
Linden
|
TX
|
—
|
|
680
|
|
3,495
|
|
—
|
|
680
|
|
3,495
|
|
4,175
|
|
401
|
|
3,774
|
|
1968
|
2011
|
35 years
|
|||||||||
SWLTC Marshall Conroe
|
Marshall
|
TX
|
—
|
|
810
|
|
10,093
|
|
—
|
|
810
|
|
10,093
|
|
10,903
|
|
909
|
|
9,994
|
|
2008
|
2011
|
35 years
|
|||||||||
McKinney Healthcare & Rehab
|
McKinney
|
TX
|
—
|
|
1,450
|
|
10,345
|
|
—
|
|
1,450
|
|
10,345
|
|
11,795
|
|
927
|
|
10,868
|
|
2006
|
2011
|
35 years
|
|||||||||
Park Manor of McKinney
|
McKinney
|
TX
|
—
|
|
1,540
|
|
11,049
|
|
(2,592
|
)
|
1,540
|
|
8,457
|
|
9,997
|
|
792
|
|
9,205
|
|
1993
|
2011
|
35 years
|
|||||||||
Midland Nursing Center
|
Midland
|
TX
|
—
|
|
530
|
|
13,311
|
|
—
|
|
530
|
|
13,311
|
|
13,841
|
|
1,099
|
|
12,742
|
|
2008
|
2011
|
35 years
|
|||||||||
Park Manor of Quail Valley
|
Missouri City
|
TX
|
—
|
|
1,920
|
|
16,841
|
|
—
|
|
1,920
|
|
16,841
|
|
18,761
|
|
1,376
|
|
17,385
|
|
2005
|
2011
|
35 years
|
|||||||||
Nexion Health at Mt. Pleasant
|
Mount Pleasant
|
TX
|
—
|
|
520
|
|
5,050
|
|
—
|
|
520
|
|
5,050
|
|
5,570
|
|
525
|
|
5,045
|
|
1970
|
2011
|
35 years
|
|||||||||
The Meadows Nursing and Rehab
|
Orange
|
TX
|
—
|
|
380
|
|
10,777
|
|
—
|
|
380
|
|
10,777
|
|
11,157
|
|
943
|
|
10,214
|
|
2006
|
2011
|
35 years
|
|||||||||
Cypress Glen Nursing and Rehab
|
Port Arthur
|
TX
|
—
|
|
1,340
|
|
14,142
|
|
—
|
|
1,340
|
|
14,142
|
|
15,482
|
|
1,249
|
|
14,233
|
|
2000
|
2011
|
35 years
|
|||||||||
Cypress Glen East
|
Port Arthur
|
TX
|
—
|
|
490
|
|
10,663
|
|
—
|
|
490
|
|
10,663
|
|
11,153
|
|
924
|
|
10,229
|
|
1986
|
2011
|
35 years
|
|||||||||
Trisun Care Center Coastal Palms
|
Portland
|
TX
|
—
|
|
390
|
|
8,548
|
|
—
|
|
390
|
|
8,548
|
|
8,938
|
|
741
|
|
8,197
|
|
1998
|
2011
|
35 years
|
|||||||||
Legend Oaks Healthcare San Angelo
|
San Angelo
|
TX
|
—
|
|
870
|
|
12,282
|
|
—
|
|
870
|
|
12,282
|
|
13,152
|
|
1,048
|
|
12,104
|
|
2006
|
2011
|
35 years
|
|||||||||
Parklane West
|
San Antonio
|
TX
|
—
|
|
770
|
|
10,242
|
|
—
|
|
770
|
|
10,242
|
|
11,012
|
|
917
|
|
10,095
|
|
1988
|
2011
|
35 years
|
|||||||||
San Pedro Manor
|
San Antonio
|
TX
|
—
|
|
740
|
|
11,498
|
|
(2,768
|
)
|
740
|
|
8,730
|
|
9,470
|
|
809
|
|
8,661
|
|
1986
|
2011
|
35 years
|
|||||||||
Nexion Health at Sherman
|
Sherman
|
TX
|
—
|
|
250
|
|
6,636
|
|
—
|
|
250
|
|
6,636
|
|
6,886
|
|
625
|
|
6,261
|
|
1971
|
2011
|
35 years
|
|||||||||
Avalon Trinity
|
Trinity
|
TX
|
—
|
|
330
|
|
9,413
|
|
—
|
|
330
|
|
9,413
|
|
9,743
|
|
826
|
|
8,917
|
|
1985
|
2011
|
35 years
|
|||||||||
Renfro Nursing Home
|
Waxahachie
|
TX
|
—
|
|
510
|
|
7,602
|
|
—
|
|
510
|
|
7,602
|
|
8,112
|
|
738
|
|
7,374
|
|
1976
|
2011
|
35 years
|
|||||||||
Avalon Wharton
|
Wharton
|
TX
|
—
|
|
270
|
|
5,107
|
|
—
|
|
270
|
|
5,107
|
|
5,377
|
|
521
|
|
4,856
|
|
1988
|
2011
|
35 years
|
|||||||||
Federal Heights Rehabilitation and Nursing Center
|
Salt Lake City
|
UT
|
—
|
|
201
|
|
2,322
|
|
247
|
|
201
|
|
2,569
|
|
2,770
|
|
1,816
|
|
954
|
|
1962
|
1992
|
29 years
|
|||||||||
Infinia at Granite Hills
|
Salt Lake City
|
UT
|
—
|
|
740
|
|
1,247
|
|
700
|
|
756
|
|
1,931
|
|
2,687
|
|
245
|
|
2,442
|
|
1972
|
2011
|
35 years
|
|||||||||
Crosslands Rehabilitation & Healthcare Center
|
Sandy
|
UT
|
—
|
|
334
|
|
4,300
|
|
275
|
|
334
|
|
4,575
|
|
4,909
|
|
2,495
|
|
2,414
|
|
1987
|
1992
|
40 years
|
|||||||||
Sleepy Hollow Manor
|
Annandale
|
VA
|
—
|
|
7,210
|
|
13,562
|
|
—
|
|
7,210
|
|
13,562
|
|
20,772
|
|
1,286
|
|
19,486
|
|
1963
|
2011
|
35 years
|
|||||||||
The Cedars Nursing Home
|
Charlottesville
|
VA
|
—
|
|
2,810
|
|
10,763
|
|
—
|
|
2,810
|
|
10,763
|
|
13,573
|
|
973
|
|
12,600
|
|
1964
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Logan Center
|
Logan
|
WV
|
—
|
|
300
|
|
12,959
|
|
—
|
|
300
|
|
12,959
|
|
13,259
|
|
1,018
|
|
12,241
|
|
1987
|
2011
|
35 years
|
|||||||||
Ravenswood Healthcare Center
|
Ravenswood
|
WV
|
—
|
|
320
|
|
12,710
|
|
—
|
|
320
|
|
12,710
|
|
13,030
|
|
1,001
|
|
12,029
|
|
1987
|
2011
|
35 years
|
|||||||||
Valley Center
|
South Charleston
|
WV
|
—
|
|
750
|
|
24,115
|
|
—
|
|
750
|
|
24,115
|
|
24,865
|
|
1,921
|
|
22,944
|
|
1987
|
2011
|
35 years
|
|||||||||
White Sulphur
|
White Sulphur Springs
|
WV
|
—
|
|
250
|
|
13,055
|
|
—
|
|
250
|
|
13,055
|
|
13,305
|
|
1,035
|
|
12,270
|
|
1987
|
2011
|
35 years
|
|||||||||
Sage View Care Center
|
Rock Springs
|
WY
|
—
|
|
287
|
|
2,392
|
|
158
|
|
287
|
|
2,550
|
|
2,837
|
|
1,797
|
|
1,040
|
|
1964
|
1993
|
30 years
|
|||||||||
TOTAL NON-KINDRED SKILLED NURSING FACILITIES
|
|
|
—
|
|
225,246
|
|
2,233,284
|
|
8,938
|
|
225,262
|
|
2,242,206
|
|
2,467,468
|
|
356,452
|
|
2,111,016
|
|
|
|
|
|||||||||
TOTAL FOR SKILLED NURSING FACILITIES
|
|
|
—
|
|
256,967
|
|
2,583,304
|
|
8,558
|
|
256,603
|
|
2,592,226
|
|
2,848,829
|
|
624,707
|
|
2,224,122
|
|
|
|
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Kindred Hospital - Albuquerque
|
Albuquerque
|
NM
|
—
|
|
11
|
|
4,253
|
|
—
|
|
11
|
|
4,253
|
|
4,264
|
|
2,627
|
|
1,637
|
|
1985
|
1993
|
40 years
|
|||||||||
Kindred Hospital - Las Vegas (Sahara)
|
Las Vegas
|
NV
|
—
|
|
1,110
|
|
2,177
|
|
—
|
|
1,110
|
|
2,177
|
|
3,287
|
|
1,246
|
|
2,041
|
|
1980
|
1994
|
40 years
|
|||||||||
Kindred Hospital - Oklahoma City
|
Oklahoma City
|
OK
|
—
|
|
293
|
|
5,607
|
|
—
|
|
293
|
|
5,607
|
|
5,900
|
|
4,188
|
|
1,712
|
|
1958
|
1993
|
30 years
|
|||||||||
Kindred Hospital - Pittsburgh
|
Oakdale
|
PA
|
—
|
|
662
|
|
12,854
|
|
—
|
|
662
|
|
12,854
|
|
13,516
|
|
8,941
|
|
4,575
|
|
1972
|
1996
|
40 years
|
|||||||||
Kindred Hospital - Philadelphia
|
Philadelphia
|
PA
|
—
|
|
135
|
|
5,223
|
|
—
|
|
135
|
|
5,223
|
|
5,358
|
|
2,923
|
|
2,435
|
|
N/A
|
1995
|
35 years
|
|||||||||
Kindred Hospital - Chattanooga
|
Chattanooga
|
TN
|
—
|
|
756
|
|
4,415
|
|
—
|
|
756
|
|
4,415
|
|
5,171
|
|
3,786
|
|
1,385
|
|
1975
|
1993
|
22 years
|
|||||||||
Kindred Hospital - Tarrant County (Fort Worth Southwest)
|
Fort Worth
|
TX
|
—
|
|
2,342
|
|
7,458
|
|
—
|
|
2,342
|
|
7,458
|
|
9,800
|
|
7,211
|
|
2,589
|
|
1987
|
1986
|
20 years
|
|||||||||
Kindred Hospital - Fort Worth
|
Fort Worth
|
TX
|
—
|
|
648
|
|
10,608
|
|
—
|
|
648
|
|
10,608
|
|
11,256
|
|
8,215
|
|
3,041
|
|
1960
|
1994
|
34 years
|
|||||||||
Kindred Hospital (Houston Northwest)
|
Houston
|
TX
|
—
|
|
1,699
|
|
6,788
|
|
—
|
|
1,699
|
|
6,788
|
|
8,487
|
|
4,989
|
|
3,498
|
|
1986
|
1985
|
40 years
|
|||||||||
Kindred Hospital - Houston
|
Houston
|
TX
|
—
|
|
33
|
|
7,062
|
|
—
|
|
33
|
|
7,062
|
|
7,095
|
|
6,383
|
|
712
|
|
N/A
|
1994
|
20 years
|
|||||||||
Kindred Hospital - Mansfield
|
Mansfield
|
TX
|
—
|
|
267
|
|
2,462
|
|
—
|
|
267
|
|
2,462
|
|
2,729
|
|
1,779
|
|
950
|
|
1983
|
1990
|
40 years
|
|||||||||
Kindred Hospital - San Antonio
|
San Antonio
|
TX
|
—
|
|
249
|
|
11,413
|
|
—
|
|
249
|
|
11,413
|
|
11,662
|
|
8,074
|
|
3,588
|
|
1981
|
1993
|
30 years
|
|||||||||
TOTAL FOR KINDRED HOSPITALS
|
|
|
—
|
|
40,482
|
|
279,282
|
|
(6,578
|
)
|
40,212
|
|
272,974
|
|
313,186
|
|
229,136
|
|
84,050
|
|
|
|
|
|||||||||
NON-KINDRED HOSPITALS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Southern Arizone Rehab
|
Tucson
|
AZ
|
—
|
|
770
|
|
25,589
|
|
—
|
|
770
|
|
25,589
|
|
26,359
|
|
1,910
|
|
24,449
|
|
1992
|
2011
|
35 years
|
|||||||||
HealthBridge Children's Hospital
|
Orange
|
CA
|
—
|
|
1,330
|
|
9,317
|
|
—
|
|
1,330
|
|
9,317
|
|
10,647
|
|
715
|
|
9,932
|
|
2000
|
2011
|
35 years
|
|||||||||
HealthSouth Rehabilitation Hospital
|
Tustin
|
CA
|
—
|
|
2,810
|
|
25,248
|
|
—
|
|
2,810
|
|
25,248
|
|
28,058
|
|
1,920
|
|
26,138
|
|
1991
|
2011
|
35 years
|
|||||||||
Gateway Rehabilitation Hospital at Florence
|
Florence
|
KY
|
—
|
|
3,600
|
|
4,924
|
|
—
|
|
3,600
|
|
4,924
|
|
8,524
|
|
1,008
|
|
7,516
|
|
2001
|
2006
|
35 years
|
|||||||||
University Hospitals Rehabilitation Hospital
|
Beachwood
|
OH
|
—
|
|
—
|
|
—
|
|
18,244
|
|
1,800
|
|
16,444
|
|
18,244
|
|
363
|
|
17,881
|
|
2013
|
2012
|
35 years
|
|||||||||
The Ranch/Touchstone
|
Conroe
|
TX
|
—
|
|
2,710
|
|
28,428
|
|
3,459
|
|
2,710
|
|
31,887
|
|
34,597
|
|
2,127
|
|
32,470
|
|
1992
|
2011
|
35 years
|
|||||||||
Highlands Regional Rehabilitation Hospital
|
El Paso
|
TX
|
—
|
|
1,900
|
|
23,616
|
|
—
|
|
1,900
|
|
23,616
|
|
25,516
|
|
4,836
|
|
20,680
|
|
1999
|
2006
|
35 years
|
|||||||||
Houston Children's Hospital
|
Houston
|
TX
|
—
|
|
1,800
|
|
15,770
|
|
—
|
|
1,800
|
|
15,770
|
|
17,570
|
|
1,197
|
|
16,373
|
|
1999
|
2011
|
35 years
|
|||||||||
Beacon Specialty Hospital
|
Spring
|
TX
|
—
|
|
960
|
|
6,498
|
|
—
|
|
960
|
|
6,498
|
|
7,458
|
|
506
|
|
6,952
|
|
1995
|
2011
|
35 years
|
|||||||||
TOTAL FOR NON-KINDRED HOSPITALS
|
|
|
—
|
|
15,880
|
|
139,390
|
|
21,703
|
|
17,680
|
|
159,293
|
|
176,973
|
|
14,582
|
|
162,391
|
|
|
|
|
|||||||||
TOTAL FOR HOSPITALS
|
|
|
—
|
|
56,362
|
|
418,672
|
|
15,125
|
|
57,892
|
|
432,267
|
|
490,159
|
|
243,718
|
|
246,441
|
|
|
|
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Clare Bridge of Grand Blanc I
|
Holly
|
MI
|
—
|
|
450
|
|
12,373
|
|
—
|
|
450
|
|
12,373
|
|
12,823
|
|
965
|
|
11,858
|
|
1998
|
2011
|
35 years
|
Wynwood of Grand Blanc II
|
Holly
|
MI
|
—
|
|
620
|
|
14,627
|
|
—
|
|
620
|
|
14,627
|
|
15,247
|
|
1,155
|
|
14,092
|
|
1998
|
2011
|
35 years
|
Wynwood of Northville
|
Northville
|
MI
|
7,261
|
|
407
|
|
6,068
|
|
—
|
|
407
|
|
6,068
|
|
6,475
|
|
1,992
|
|
4,483
|
|
1996
|
2005
|
35 years
|
Clare Bridge of Troy I
|
Troy
|
MI
|
—
|
|
630
|
|
17,178
|
|
—
|
|
630
|
|
17,178
|
|
17,808
|
|
1,320
|
|
16,488
|
|
1998
|
2011
|
35 years
|
Wynwood of Troy II
|
Troy
|
MI
|
—
|
|
950
|
|
12,503
|
|
—
|
|
950
|
|
12,503
|
|
13,453
|
|
1,036
|
|
12,417
|
|
1998
|
2011
|
35 years
|
Wynwood of Utica
|
Utica
|
MI
|
—
|
|
1,142
|
|
11,808
|
|
—
|
|
1,142
|
|
11,808
|
|
12,950
|
|
3,876
|
|
9,074
|
|
1996
|
2005
|
35 years
|
Clare Bridge of Utica
|
Utica
|
MI
|
—
|
|
700
|
|
8,657
|
|
—
|
|
700
|
|
8,657
|
|
9,357
|
|
717
|
|
8,640
|
|
1995
|
2011
|
35 years
|
Sterling House of Blaine
|
Blaine
|
MN
|
—
|
|
150
|
|
1,675
|
|
—
|
|
150
|
|
1,675
|
|
1,825
|
|
550
|
|
1,275
|
|
1997
|
2005
|
35 years
|
Clare Bridge of Eden Prairie
|
Eden Prairie
|
MN
|
—
|
|
301
|
|
6,228
|
|
—
|
|
301
|
|
6,228
|
|
6,529
|
|
2,045
|
|
4,484
|
|
1998
|
2005
|
35 years
|
Woven Hearts of Faribault
|
Faribault
|
MN
|
—
|
|
530
|
|
1,085
|
|
—
|
|
530
|
|
1,085
|
|
1,615
|
|
111
|
|
1,504
|
|
1997
|
2011
|
35 years
|
Sterling House of Inver Grove Heights
|
Inver Grove Heights
|
MN
|
2,857
|
|
253
|
|
2,655
|
|
—
|
|
253
|
|
2,655
|
|
2,908
|
|
872
|
|
2,036
|
|
1997
|
2005
|
35 years
|
Woven Hearts of Mankato
|
Mankato
|
MN
|
—
|
|
490
|
|
410
|
|
—
|
|
490
|
|
410
|
|
900
|
|
81
|
|
819
|
|
1996
|
2011
|
35 years
|
Edina Park Plaza
|
Minneapolis
|
MN
|
15,392
|
|
3,621
|
|
33,141
|
|
—
|
|
3,621
|
|
33,141
|
|
36,762
|
|
10,977
|
|
25,785
|
|
1998
|
2005
|
35 years
|
Clare Bridge of North Oaks
|
North Oaks
|
MN
|
—
|
|
1,057
|
|
8,296
|
|
—
|
|
1,057
|
|
8,296
|
|
9,353
|
|
2,723
|
|
6,630
|
|
1998
|
2005
|
35 years
|
Clare Bridge of Plymouth
|
Plymouth
|
MN
|
—
|
|
679
|
|
8,675
|
|
—
|
|
679
|
|
8,675
|
|
9,354
|
|
2,848
|
|
6,506
|
|
1998
|
2005
|
35 years
|
Woven Hearts of Sauk Rapids
|
Sauk Rapids
|
MN
|
—
|
|
480
|
|
3,178
|
|
—
|
|
480
|
|
3,178
|
|
3,658
|
|
263
|
|
3,395
|
|
1997
|
2011
|
35 years
|
Woven Hearts of Wilmar
|
Wilmar
|
MN
|
—
|
|
470
|
|
4,833
|
|
—
|
|
470
|
|
4,833
|
|
5,303
|
|
379
|
|
4,924
|
|
1997
|
2011
|
35 years
|
Woven Hearts of Winona
|
Winona
|
MN
|
—
|
|
800
|
|
1,390
|
|
—
|
|
800
|
|
1,390
|
|
2,190
|
|
223
|
|
1,967
|
|
1997
|
2011
|
35 years
|
Wellington Place of Greenville
|
Greenville
|
MS
|
—
|
|
600
|
|
1,522
|
|
—
|
|
600
|
|
1,522
|
|
2,122
|
|
184
|
|
1,938
|
|
1999
|
2011
|
35 years
|
Clare Bridge of Cary
|
Cary
|
NC
|
—
|
|
724
|
|
6,466
|
|
—
|
|
724
|
|
6,466
|
|
7,190
|
|
2,123
|
|
5,067
|
|
1997
|
2005
|
35 years
|
Sterling House of Hickory
|
Hickory
|
NC
|
—
|
|
330
|
|
10,981
|
|
—
|
|
330
|
|
10,981
|
|
11,311
|
|
854
|
|
10,457
|
|
1997
|
2011
|
35 years
|
Clare Bridge of Winston-Salem
|
Winston-Salem
|
NC
|
—
|
|
368
|
|
3,497
|
|
—
|
|
368
|
|
3,497
|
|
3,865
|
|
1,148
|
|
2,717
|
|
1997
|
2005
|
35 years
|
Brendenwood
|
Voorhees Township
|
NJ
|
17,989
|
|
3,158
|
|
29,909
|
|
—
|
|
3,158
|
|
29,909
|
|
33,067
|
|
9,819
|
|
23,248
|
|
1987
|
2005
|
35 years
|
Clare Bridge of Westampton
|
Westampton
|
NJ
|
—
|
|
881
|
|
4,741
|
|
—
|
|
881
|
|
4,741
|
|
5,622
|
|
1,557
|
|
4,065
|
|
1997
|
2005
|
35 years
|
Sterling House of Deptford
|
Woodbury
|
NJ
|
—
|
|
1,190
|
|
5,482
|
|
—
|
|
1,190
|
|
5,482
|
|
6,672
|
|
475
|
|
6,197
|
|
1998
|
2011
|
35 years
|
Ponce de Leon
|
Santa Fe
|
NM
|
—
|
|
—
|
|
28,178
|
|
—
|
|
—
|
|
28,178
|
|
28,178
|
|
8,970
|
|
19,208
|
|
1986
|
2005
|
35 years
|
Westwood Assisted Living
|
Sparks
|
NV
|
—
|
|
1,040
|
|
7,376
|
|
—
|
|
1,040
|
|
7,376
|
|
8,416
|
|
713
|
|
7,703
|
|
1991
|
2011
|
35 years
|
Westwood Active Retirement
|
Sparks
|
NV
|
—
|
|
1,520
|
|
9,280
|
|
—
|
|
1,520
|
|
9,280
|
|
10,800
|
|
948
|
|
9,852
|
|
1993
|
2011
|
35 years
|
Wynwood of Kenmore
|
Buffalo
|
NY
|
13,538
|
|
1,487
|
|
15,170
|
|
—
|
|
1,487
|
|
15,170
|
|
16,657
|
|
4,980
|
|
11,677
|
|
1995
|
2005
|
35 years
|
Villas of Sherman Brook
|
Clinton
|
NY
|
—
|
|
947
|
|
7,528
|
|
—
|
|
947
|
|
7,528
|
|
8,475
|
|
2,471
|
|
6,004
|
|
1991
|
2005
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Wynwood of Liberty (Manlius)
|
Manlius
|
NY
|
—
|
|
890
|
|
28,237
|
|
—
|
|
890
|
|
28,237
|
|
29,127
|
|
2,150
|
|
26,977
|
|
1994
|
2011
|
35 years
|
Clare Bridge of Perinton
|
Pittsford
|
NY
|
—
|
|
611
|
|
4,066
|
|
—
|
|
611
|
|
4,066
|
|
4,677
|
|
1,335
|
|
3,342
|
|
1997
|
2005
|
35 years
|
The Gables at Brighton
|
Rochester
|
NY
|
—
|
|
1,131
|
|
9,498
|
|
—
|
|
1,131
|
|
9,498
|
|
10,629
|
|
3,220
|
|
7,409
|
|
1988
|
2005
|
35 years
|
Clare Bridge of Niskayuna
|
Schenectady
|
NY
|
—
|
|
1,021
|
|
8,333
|
|
—
|
|
1,021
|
|
8,333
|
|
9,354
|
|
2,735
|
|
6,619
|
|
1997
|
2005
|
35 years
|
Wynwood of Niskayuna
|
Schenectady
|
NY
|
17,013
|
|
1,884
|
|
16,103
|
|
—
|
|
1,884
|
|
16,103
|
|
17,987
|
|
5,286
|
|
12,701
|
|
1996
|
2005
|
35 years
|
Villas of Summerfield
|
Syracuse
|
NY
|
—
|
|
1,132
|
|
11,434
|
|
—
|
|
1,132
|
|
11,434
|
|
12,566
|
|
3,754
|
|
8,812
|
|
1991
|
2005
|
35 years
|
Clare Bridge of Williamsville
|
Williamsville
|
NY
|
6,999
|
|
839
|
|
3,841
|
|
—
|
|
839
|
|
3,841
|
|
4,680
|
|
1,261
|
|
3,419
|
|
1997
|
2005
|
35 years
|
Sterling House of Alliance
|
Alliance
|
OH
|
2,302
|
|
392
|
|
6,283
|
|
—
|
|
392
|
|
6,283
|
|
6,675
|
|
2,063
|
|
4,612
|
|
1998
|
2005
|
35 years
|
Clare Bridge Cottage of Austintown
|
Austintown
|
OH
|
—
|
|
151
|
|
3,087
|
|
—
|
|
151
|
|
3,087
|
|
3,238
|
|
1,013
|
|
2,225
|
|
1999
|
2005
|
35 years
|
Sterling House of Barberton
|
Barberton
|
OH
|
—
|
|
440
|
|
10,884
|
|
—
|
|
440
|
|
10,884
|
|
11,324
|
|
847
|
|
10,477
|
|
1997
|
2011
|
35 years
|
Sterling House of Beaver Creek
|
Beavercreek
|
OH
|
—
|
|
587
|
|
5,381
|
|
—
|
|
587
|
|
5,381
|
|
5,968
|
|
1,767
|
|
4,201
|
|
1998
|
2005
|
35 years
|
Sterling House of Englewood (OH)
|
Clayton
|
OH
|
—
|
|
630
|
|
6,477
|
|
—
|
|
630
|
|
6,477
|
|
7,107
|
|
532
|
|
6,575
|
|
1997
|
2011
|
35 years
|
Sterling House of Westerville
|
Columbus
|
OH
|
1,883
|
|
267
|
|
3,600
|
|
—
|
|
267
|
|
3,600
|
|
3,867
|
|
1,182
|
|
2,685
|
|
1999
|
2005
|
35 years
|
Sterling House of Greenville
|
Greenville
|
OH
|
—
|
|
490
|
|
4,144
|
|
—
|
|
490
|
|
4,144
|
|
4,634
|
|
401
|
|
4,233
|
|
1997
|
2011
|
35 years
|
Sterling House of Lancaster
|
Lancaster
|
OH
|
—
|
|
460
|
|
4,662
|
|
—
|
|
460
|
|
4,662
|
|
5,122
|
|
403
|
|
4,719
|
|
1998
|
2011
|
35 years
|
Sterling House of Marion
|
Marion
|
OH
|
—
|
|
620
|
|
3,306
|
|
—
|
|
620
|
|
3,306
|
|
3,926
|
|
308
|
|
3,618
|
|
1998
|
2011
|
35 years
|
Sterling House of Salem
|
Salem
|
OH
|
—
|
|
634
|
|
4,659
|
|
—
|
|
634
|
|
4,659
|
|
5,293
|
|
1,529
|
|
3,764
|
|
1998
|
2005
|
35 years
|
Sterling House of Springdale
|
Springdale
|
OH
|
—
|
|
1,140
|
|
9,134
|
|
—
|
|
1,140
|
|
9,134
|
|
10,274
|
|
722
|
|
9,552
|
|
1997
|
2011
|
35 years
|
Sterling House of Bartlesville
|
Bartlesville
|
OK
|
—
|
|
250
|
|
10,529
|
|
—
|
|
250
|
|
10,529
|
|
10,779
|
|
806
|
|
9,973
|
|
1997
|
2011
|
35 years
|
Sterling House of Bethany
|
Bethany
|
OK
|
—
|
|
390
|
|
1,499
|
|
—
|
|
390
|
|
1,499
|
|
1,889
|
|
152
|
|
1,737
|
|
1994
|
2011
|
35 years
|
Sterling House of Broken Arrow
|
Broken Arrow
|
OK
|
—
|
|
940
|
|
6,312
|
|
6,410
|
|
1,873
|
|
11,789
|
|
13,662
|
|
507
|
|
13,155
|
|
1996
|
2011
|
35 years
|
Forest Grove Residential Community
|
Forest Grove
|
OR
|
—
|
|
2,320
|
|
9,633
|
|
—
|
|
2,320
|
|
9,633
|
|
11,953
|
|
840
|
|
11,113
|
|
1994
|
2011
|
35 years
|
The Heritage at Mt. Hood
|
Gresham
|
OR
|
—
|
|
2,410
|
|
9,093
|
|
—
|
|
2,410
|
|
9,093
|
|
11,503
|
|
793
|
|
10,710
|
|
1988
|
2011
|
35 years
|
McMinnville Residential Estates
|
McMinnville
|
OR
|
1,973
|
|
1,230
|
|
7,561
|
|
—
|
|
1,230
|
|
7,561
|
|
8,791
|
|
732
|
|
8,059
|
|
1989
|
2011
|
35 years
|
Homewood Residence at Deane Hill
|
Knoxville
|
TN
|
—
|
|
1,150
|
|
15,705
|
|
—
|
|
1,150
|
|
15,705
|
|
16,855
|
|
1,317
|
|
15,538
|
|
2001
|
2011
|
35 years
|
Wellington Place at Newport
|
Newport
|
TN
|
—
|
|
820
|
|
4,046
|
|
—
|
|
820
|
|
4,046
|
|
4,866
|
|
370
|
|
4,496
|
|
2000
|
2011
|
35 years
|
Trinity Towers
|
Corpus Christi
|
TX
|
—
|
|
1,920
|
|
71,661
|
|
—
|
|
1,920
|
|
71,661
|
|
73,581
|
|
5,578
|
|
68,003
|
|
1985
|
2011
|
35 years
|
Sterling House of Denton
|
Denton
|
TX
|
—
|
|
1,750
|
|
6,712
|
|
—
|
|
1,750
|
|
6,712
|
|
8,462
|
|
538
|
|
7,924
|
|
1996
|
2011
|
35 years
|
Sterling House of Ennis
|
Ennis
|
TX
|
—
|
|
460
|
|
3,284
|
|
—
|
|
460
|
|
3,284
|
|
3,744
|
|
289
|
|
3,455
|
|
1996
|
2011
|
35 years
|
Broadway Plaza at Westover Hill
|
Fort Worth
|
TX
|
—
|
|
1,660
|
|
25,703
|
|
—
|
|
1,660
|
|
25,703
|
|
27,363
|
|
1,997
|
|
25,366
|
|
2001
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Hampton at Pinegate
|
Houston
|
TX
|
—
|
|
3,440
|
|
15,913
|
|
—
|
|
3,440
|
|
15,913
|
|
19,353
|
|
1,307
|
|
18,046
|
|
1998
|
2011
|
35 years
|
Hampton at Shadowlake
|
Houston
|
TX
|
—
|
|
2,520
|
|
13,770
|
|
—
|
|
2,520
|
|
13,770
|
|
16,290
|
|
1,153
|
|
15,137
|
|
1999
|
2011
|
35 years
|
Hampton at Spring Shadow
|
Houston
|
TX
|
—
|
|
1,250
|
|
15,760
|
|
—
|
|
1,250
|
|
15,760
|
|
17,010
|
|
1,253
|
|
15,757
|
|
1999
|
2011
|
35 years
|
Sterling House of Kerrville
|
Kerrville
|
TX
|
—
|
|
460
|
|
8,548
|
|
—
|
|
460
|
|
8,548
|
|
9,008
|
|
667
|
|
8,341
|
|
1997
|
2011
|
35 years
|
Sterling House of Lancaster
|
Lancaster
|
TX
|
—
|
|
410
|
|
1,478
|
|
—
|
|
410
|
|
1,478
|
|
1,888
|
|
164
|
|
1,724
|
|
1997
|
2011
|
35 years
|
Sterling House of Paris
|
Paris
|
TX
|
—
|
|
360
|
|
2,411
|
|
—
|
|
360
|
|
2,411
|
|
2,771
|
|
231
|
|
2,540
|
|
1996
|
2011
|
35 years
|
Hampton at Pearland
|
Pearland
|
TX
|
—
|
|
1,250
|
|
12,869
|
|
—
|
|
1,250
|
|
12,869
|
|
14,119
|
|
1,072
|
|
13,047
|
|
1998
|
2011
|
35 years
|
Sterling House of San Antonio
|
San Antonio
|
TX
|
—
|
|
1,400
|
|
10,051
|
|
—
|
|
1,400
|
|
10,051
|
|
11,451
|
|
796
|
|
10,655
|
|
1997
|
2011
|
35 years
|
Sterling House of Temple
|
Temple
|
TX
|
—
|
|
330
|
|
5,081
|
|
—
|
|
330
|
|
5,081
|
|
5,411
|
|
428
|
|
4,983
|
|
1997
|
2011
|
35 years
|
Clare Bridge of Lynwood
|
Lynnwood
|
WA
|
—
|
|
1,219
|
|
9,573
|
|
—
|
|
1,219
|
|
9,573
|
|
10,792
|
|
3,143
|
|
7,649
|
|
1999
|
2005
|
35 years
|
Clare Bridge of Puyallup
|
Puyallup
|
WA
|
9,867
|
|
1,055
|
|
8,298
|
|
—
|
|
1,055
|
|
8,298
|
|
9,353
|
|
2,724
|
|
6,629
|
|
1998
|
2005
|
35 years
|
Columbia Edgewater
|
Richland
|
WA
|
—
|
|
960
|
|
23,270
|
|
—
|
|
960
|
|
23,270
|
|
24,230
|
|
1,867
|
|
22,363
|
|
1990
|
2011
|
35 years
|
Park Place
|
Spokane
|
WA
|
—
|
|
1,622
|
|
12,895
|
|
—
|
|
1,622
|
|
12,895
|
|
14,517
|
|
4,439
|
|
10,078
|
|
1915
|
2005
|
35 years
|
Crossings at Allenmore
|
Tacoma
|
WA
|
—
|
|
620
|
|
16,186
|
|
—
|
|
620
|
|
16,186
|
|
16,806
|
|
1,254
|
|
15,552
|
|
1997
|
2011
|
35 years
|
Union Park at Allenmore
|
Tacoma
|
WA
|
—
|
|
1,710
|
|
3,326
|
|
—
|
|
1,710
|
|
3,326
|
|
5,036
|
|
419
|
|
4,617
|
|
1988
|
2011
|
35 years
|
Crossings at Yakima
|
Yakima
|
WA
|
—
|
|
860
|
|
15,276
|
|
—
|
|
860
|
|
15,276
|
|
16,136
|
|
1,221
|
|
14,915
|
|
1998
|
2011
|
35 years
|
Sterling House of Fond du Lac
|
Fond du Lac
|
WI
|
—
|
|
196
|
|
1,603
|
|
—
|
|
196
|
|
1,603
|
|
1,799
|
|
526
|
|
1,273
|
|
2000
|
2005
|
35 years
|
Clare Bridge of Kenosha
|
Kenosha
|
WI
|
—
|
|
551
|
|
5,431
|
|
2,772
|
|
551
|
|
8,203
|
|
8,754
|
|
2,208
|
|
6,546
|
|
2000
|
2005
|
35 years
|
Woven Hearts of Kenosha
|
Kenosha
|
WI
|
—
|
|
630
|
|
1,694
|
|
—
|
|
630
|
|
1,694
|
|
2,324
|
|
157
|
|
2,167
|
|
1997
|
2011
|
35 years
|
Clare Bridge Cottage of La Crosse
|
La Crosse
|
WI
|
—
|
|
621
|
|
4,056
|
|
1,126
|
|
621
|
|
5,182
|
|
5,803
|
|
1,505
|
|
4,298
|
|
2004
|
2005
|
35 years
|
Sterling House of La Crosse
|
La Crosse
|
WI
|
—
|
|
644
|
|
5,831
|
|
2,637
|
|
644
|
|
8,468
|
|
9,112
|
|
2,320
|
|
6,792
|
|
1998
|
2005
|
35 years
|
Sterling House of Middleton
|
Middleton
|
WI
|
—
|
|
360
|
|
5,041
|
|
—
|
|
360
|
|
5,041
|
|
5,401
|
|
397
|
|
5,004
|
|
1997
|
2011
|
35 years
|
Woven Hearts of Neenah
|
Neenah
|
WI
|
—
|
|
340
|
|
1,030
|
|
—
|
|
340
|
|
1,030
|
|
1,370
|
|
108
|
|
1,262
|
|
1996
|
2011
|
35 years
|
Woven Hearts of Onalaska
|
Onalaska
|
WI
|
—
|
|
250
|
|
4,949
|
|
—
|
|
250
|
|
4,949
|
|
5,199
|
|
387
|
|
4,812
|
|
1995
|
2011
|
35 years
|
Woven Hearts of Oshkosh
|
Oshkosh
|
WI
|
—
|
|
160
|
|
1,904
|
|
—
|
|
160
|
|
1,904
|
|
2,064
|
|
172
|
|
1,892
|
|
1996
|
2011
|
35 years
|
Woven Hearts of Sun Prairie
|
Sun Prairie
|
WI
|
—
|
|
350
|
|
1,131
|
|
—
|
|
350
|
|
1,131
|
|
1,481
|
|
115
|
|
1,366
|
|
1994
|
2011
|
35 years
|
TOTAL FOR BROOKDALE SENIORS HOUSING COMMUNITIES
|
|
|
216,170
|
|
188,370
|
|
1,854,131
|
|
20,362
|
|
189,303
|
|
1,873,560
|
|
2,062,863
|
|
437,527
|
|
1,625,336
|
|
|
|
|
SUNRISE SENIORS HOUSING COMMUNITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunrise of Chandler
|
Chandler
|
AZ
|
—
|
|
4,344
|
|
14,455
|
|
129
|
|
4,344
|
|
14,584
|
|
18,928
|
|
883
|
|
18,045
|
|
2007
|
2012
|
35 years
|
Sunrise of Scottsdale
|
Scottsdale
|
AZ
|
—
|
|
2,229
|
|
27,575
|
|
368
|
|
2,255
|
|
27,917
|
|
30,172
|
|
5,738
|
|
24,434
|
|
2007
|
2007
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Sunrise of River Road
|
Tucson
|
AZ
|
—
|
|
2,971
|
|
12,399
|
|
26
|
|
2,971
|
|
12,425
|
|
15,396
|
|
688
|
|
14,708
|
|
2008
|
2012
|
35 years
|
Sunrise of Lynn Valley
|
Vancouver
|
BC
|
13,213
|
|
11,759
|
|
37,424
|
|
(2,644
|
)
|
11,001
|
|
35,538
|
|
46,539
|
|
7,239
|
|
39,300
|
|
2002
|
2007
|
35 years
|
Sunrise of Vancouver
|
Vancouver
|
BC
|
—
|
|
6,649
|
|
31,937
|
|
311
|
|
6,665
|
|
32,232
|
|
38,897
|
|
7,114
|
|
31,783
|
|
2005
|
2007
|
35 years
|
Sunrise of Victoria
|
Victoria
|
BC
|
12,559
|
|
8,332
|
|
29,970
|
|
(1,966
|
)
|
7,808
|
|
28,528
|
|
36,336
|
|
5,946
|
|
30,390
|
|
2001
|
2007
|
35 years
|
Sunrise at La Costa
|
Carlsbad
|
CA
|
—
|
|
4,890
|
|
20,590
|
|
847
|
|
4,920
|
|
21,407
|
|
26,327
|
|
5,014
|
|
21,313
|
|
1999
|
2007
|
35 years
|
Sunrise of Carmichael
|
Carmichael
|
CA
|
—
|
|
1,269
|
|
14,598
|
|
27
|
|
1,269
|
|
14,625
|
|
15,894
|
|
853
|
|
15,041
|
|
2009
|
2012
|
35 years
|
Sunrise of Fair Oaks
|
Fair Oaks
|
CA
|
10,799
|
|
1,456
|
|
23,679
|
|
1,458
|
|
2,190
|
|
24,403
|
|
26,593
|
|
5,346
|
|
21,247
|
|
2001
|
2007
|
35 years
|
Sunrise of Mission Viejo
|
Mission Viejo
|
CA
|
—
|
|
3,802
|
|
24,560
|
|
897
|
|
3,821
|
|
25,438
|
|
29,259
|
|
5,620
|
|
23,639
|
|
1998
|
2007
|
35 years
|
Sunrise of Pacific Palisades
|
Pacific Palisades
|
CA
|
7,592
|
|
4,458
|
|
17,064
|
|
765
|
|
4,461
|
|
17,826
|
|
22,287
|
|
4,122
|
|
18,165
|
|
2001
|
2007
|
35 years
|
Sunrise at Canyon Crest
|
Riverside
|
CA
|
—
|
|
5,486
|
|
19,658
|
|
753
|
|
5,515
|
|
20,382
|
|
25,897
|
|
4,593
|
|
21,304
|
|
2006
|
2007
|
35 years
|
Sunrise of Rocklin
|
Rocklin
|
CA
|
—
|
|
1,378
|
|
23,565
|
|
561
|
|
1,409
|
|
24,095
|
|
25,504
|
|
5,013
|
|
20,491
|
|
2007
|
2007
|
35 years
|
Sunrise of San Mateo
|
San Mateo
|
CA
|
—
|
|
2,682
|
|
35,335
|
|
1,124
|
|
2,686
|
|
36,455
|
|
39,141
|
|
7,448
|
|
31,693
|
|
1999
|
2007
|
35 years
|
Sunrise of Sunnyvale
|
Sunnyvale
|
CA
|
—
|
|
2,933
|
|
34,361
|
|
604
|
|
2,948
|
|
34,950
|
|
37,898
|
|
7,226
|
|
30,672
|
|
2000
|
2007
|
35 years
|
Sunrise at Sterling Canyon
|
Valencia
|
CA
|
17,043
|
|
3,868
|
|
29,293
|
|
3,561
|
|
3,966
|
|
32,756
|
|
36,722
|
|
7,170
|
|
29,552
|
|
1998
|
2007
|
35 years
|
Sunrise of Westlake Village
|
Westlake Village
|
CA
|
—
|
|
4,935
|
|
30,722
|
|
594
|
|
4,947
|
|
31,304
|
|
36,251
|
|
6,484
|
|
29,767
|
|
2004
|
2007
|
35 years
|
Sunrise at Yorba Linda
|
Yorba Linda
|
CA
|
—
|
|
1,689
|
|
25,240
|
|
850
|
|
1,714
|
|
26,065
|
|
27,779
|
|
5,350
|
|
22,429
|
|
2002
|
2007
|
35 years
|
Sunrise at Cherry Creek
|
Denver
|
CO
|
—
|
|
1,621
|
|
28,370
|
|
749
|
|
1,702
|
|
29,038
|
|
30,740
|
|
6,144
|
|
24,596
|
|
2000
|
2007
|
35 years
|
Sunrise at Pinehurst
|
Denver
|
CO
|
—
|
|
1,417
|
|
30,885
|
|
1,269
|
|
1,431
|
|
32,140
|
|
33,571
|
|
7,059
|
|
26,512
|
|
1998
|
2007
|
35 years
|
Sunrise at Orchard
|
Littleton
|
CO
|
10,727
|
|
1,813
|
|
22,183
|
|
1,032
|
|
1,846
|
|
23,182
|
|
25,028
|
|
5,128
|
|
19,900
|
|
1997
|
2007
|
35 years
|
Sunrise of Westminster
|
Westminster
|
CO
|
7,679
|
|
2,649
|
|
16,243
|
|
891
|
|
2,686
|
|
17,097
|
|
19,783
|
|
3,880
|
|
15,903
|
|
2000
|
2007
|
35 years
|
Sunrise of Stamford
|
Stamford
|
CT
|
—
|
|
4,612
|
|
28,533
|
|
1,200
|
|
4,629
|
|
29,716
|
|
34,345
|
|
6,584
|
|
27,761
|
|
1999
|
2007
|
35 years
|
Sunrise of Jacksonville
|
Jacksonville
|
FL
|
—
|
|
2,390
|
|
17,671
|
|
27
|
|
2,392
|
|
17,696
|
|
20,088
|
|
1,044
|
|
19,044
|
|
2009
|
2012
|
35 years
|
Sunrise of Ivey Ridge
|
Alpharetta
|
GA
|
5,233
|
|
1,507
|
|
18,516
|
|
720
|
|
1,513
|
|
19,230
|
|
20,743
|
|
4,384
|
|
16,359
|
|
1998
|
2007
|
35 years
|
Sunrise of Huntcliff I
|
Atlanta
|
GA
|
31,200
|
|
4,232
|
|
66,161
|
|
11,031
|
|
4,226
|
|
77,198
|
|
81,424
|
|
14,368
|
|
67,056
|
|
1987
|
2007
|
35 years
|
Sunrise of Huntcliff II
|
Atlanta
|
GA
|
5,025
|
|
2,154
|
|
17,137
|
|
1,543
|
|
2,154
|
|
18,680
|
|
20,834
|
|
3,932
|
|
16,902
|
|
1998
|
2007
|
35 years
|
Sunrise at East Cobb
|
Marietta
|
GA
|
9,640
|
|
1,797
|
|
23,420
|
|
1,098
|
|
1,799
|
|
24,516
|
|
26,315
|
|
5,253
|
|
21,062
|
|
1997
|
2007
|
35 years
|
Sunrise of Barrington
|
Barrington
|
IL
|
—
|
|
859
|
|
15,085
|
|
45
|
|
859
|
|
15,130
|
|
15,989
|
|
890
|
|
15,099
|
|
2007
|
2012
|
35 years
|
Sunrise of Bloomingdale
|
Bloomingdale
|
IL
|
—
|
|
1,287
|
|
38,625
|
|
1,112
|
|
1,311
|
|
39,713
|
|
41,024
|
|
8,283
|
|
32,741
|
|
2000
|
2007
|
35 years
|
Sunrise of Buffalo Grove
|
Buffalo Grove
|
IL
|
—
|
|
2,154
|
|
28,021
|
|
781
|
|
2,251
|
|
28,705
|
|
30,956
|
|
6,221
|
|
24,735
|
|
1999
|
2007
|
35 years
|
Sunrise of Lincoln Park
|
Chicago
|
IL
|
—
|
|
3,485
|
|
26,687
|
|
463
|
|
3,504
|
|
27,131
|
|
30,635
|
|
5,498
|
|
25,137
|
|
2003
|
2007
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Sunrise of Glen Ellyn
|
Glen Ellyn
|
IL
|
—
|
|
2,455
|
|
34,064
|
|
947
|
|
2,475
|
|
34,991
|
|
37,466
|
|
7,585
|
|
29,881
|
|
2000
|
2007
|
35 years
|
Sunrise of Naperville
|
Naperville
|
IL
|
—
|
|
1,946
|
|
28,538
|
|
1,733
|
|
1,977
|
|
30,240
|
|
32,217
|
|
6,547
|
|
25,670
|
|
1999
|
2007
|
35 years
|
Sunrise of Palos Park
|
Palos Park
|
IL
|
19,271
|
|
2,363
|
|
42,205
|
|
747
|
|
2,369
|
|
42,946
|
|
45,315
|
|
9,102
|
|
36,213
|
|
2001
|
2007
|
35 years
|
Sunrise of Park Ridge
|
Park Ridge
|
IL
|
—
|
|
5,533
|
|
39,557
|
|
1,294
|
|
5,612
|
|
40,772
|
|
46,384
|
|
8,403
|
|
37,981
|
|
1998
|
2007
|
35 years
|
Sunrise of Willowbrook
|
Willowbrook
|
IL
|
19,057
|
|
1,454
|
|
60,738
|
|
1,860
|
|
2,039
|
|
62,013
|
|
64,052
|
|
11,175
|
|
52,877
|
|
2000
|
2007
|
35 years
|
Sunrise of Old Meridian
|
Carmel
|
IN
|
—
|
|
8,550
|
|
31,746
|
|
18
|
|
8,550
|
|
31,764
|
|
40,314
|
|
1,862
|
|
38,452
|
|
2009
|
2012
|
35 years
|
Sunrise of Leawood
|
Leawood
|
KS
|
—
|
|
651
|
|
16,401
|
|
113
|
|
719
|
|
16,446
|
|
17,165
|
|
875
|
|
16,290
|
|
2006
|
2012
|
35 years
|
Sunrise of Overland Park
|
Overland Park
|
KS
|
—
|
|
650
|
|
11,015
|
|
41
|
|
650
|
|
11,056
|
|
11,706
|
|
659
|
|
11,047
|
|
2007
|
2012
|
35 years
|
Sunrise of Baton Rouge
|
Baton Rouge
|
LA
|
8,237
|
|
1,212
|
|
23,547
|
|
902
|
|
1,236
|
|
24,425
|
|
25,661
|
|
5,191
|
|
20,470
|
|
2000
|
2007
|
35 years
|
Sunrise of Arlington
|
Arlington
|
MA
|
17,645
|
|
86
|
|
34,393
|
|
696
|
|
107
|
|
35,068
|
|
35,175
|
|
7,614
|
|
27,561
|
|
2001
|
2007
|
35 years
|
Sunrise of Norwood
|
Norwood
|
MA
|
—
|
|
2,230
|
|
30,968
|
|
1,313
|
|
2,258
|
|
32,253
|
|
34,511
|
|
6,640
|
|
27,871
|
|
1997
|
2007
|
35 years
|
Sunrise of Columbia
|
Columbia
|
MD
|
—
|
|
1,780
|
|
23,083
|
|
1,535
|
|
1,855
|
|
24,543
|
|
26,398
|
|
5,166
|
|
21,232
|
|
1996
|
2007
|
35 years
|
Sunrise of Rockville
|
Rockville
|
MD
|
—
|
|
1,039
|
|
39,216
|
|
767
|
|
1,066
|
|
39,956
|
|
41,022
|
|
8,029
|
|
32,993
|
|
1997
|
2007
|
35 years
|
Sunrise of North Ann Arbor
|
Ann Arbor
|
MI
|
—
|
|
1,703
|
|
15,857
|
|
819
|
|
1,673
|
|
16,706
|
|
18,379
|
|
3,710
|
|
14,669
|
|
2000
|
2007
|
35 years
|
Sunrise of Bloomfield
|
Bloomfield Hills
|
MI
|
—
|
|
3,736
|
|
27,657
|
|
1,418
|
|
3,742
|
|
29,069
|
|
32,811
|
|
6,076
|
|
26,735
|
|
2006
|
2007
|
35 years
|
Sunrise of Cascade
|
Grand Rapids
|
MI
|
—
|
|
1,273
|
|
21,782
|
|
55
|
|
1,273
|
|
21,837
|
|
23,110
|
|
1,225
|
|
21,885
|
|
2007
|
2012
|
35 years
|
Sunrise of Northville
|
Plymouth
|
MI
|
—
|
|
1,445
|
|
26,090
|
|
873
|
|
1,466
|
|
26,942
|
|
28,408
|
|
5,846
|
|
22,562
|
|
1999
|
2007
|
35 years
|
Sunrise of Rochester
|
Rochester
|
MI
|
—
|
|
2,774
|
|
38,666
|
|
711
|
|
2,778
|
|
39,373
|
|
42,151
|
|
8,324
|
|
33,827
|
|
1998
|
2007
|
35 years
|
Sunrise of Troy
|
Troy
|
MI
|
—
|
|
1,758
|
|
23,727
|
|
501
|
|
1,833
|
|
24,153
|
|
25,986
|
|
5,299
|
|
20,687
|
|
2001
|
2007
|
35 years
|
Sunrise of Edina
|
Edina
|
MN
|
9,102
|
|
3,181
|
|
24,224
|
|
1,861
|
|
3,212
|
|
26,054
|
|
29,266
|
|
5,660
|
|
23,606
|
|
1999
|
2007
|
35 years
|
Sunrise on Providence
|
Charlotte
|
NC
|
—
|
|
1,976
|
|
19,472
|
|
929
|
|
1,988
|
|
20,389
|
|
22,377
|
|
4,477
|
|
17,900
|
|
1999
|
2007
|
35 years
|
Sunrise at North Hills
|
Raleigh
|
NC
|
—
|
|
749
|
|
37,091
|
|
3,415
|
|
758
|
|
40,497
|
|
41,255
|
|
7,947
|
|
33,308
|
|
2000
|
2007
|
35 years
|
Sunrise of East Brunswick
|
East Brunswick
|
NJ
|
—
|
|
2,784
|
|
26,173
|
|
1,344
|
|
2,813
|
|
27,488
|
|
30,301
|
|
6,126
|
|
24,175
|
|
1999
|
2007
|
35 years
|
Sunrise of Jackson
|
Jackson
|
NJ
|
—
|
|
4,009
|
|
15,029
|
|
93
|
|
4,014
|
|
15,117
|
|
19,131
|
|
917
|
|
18,214
|
|
2008
|
2012
|
35 years
|
Sunrise of Morris Plains
|
Morris Plains
|
NJ
|
18,762
|
|
1,492
|
|
32,052
|
|
1,246
|
|
1,510
|
|
33,280
|
|
34,790
|
|
6,921
|
|
27,869
|
|
1997
|
2007
|
35 years
|
Sunrise of Old Tappan
|
Old Tappan
|
NJ
|
17,424
|
|
2,985
|
|
36,795
|
|
1,228
|
|
2,998
|
|
38,010
|
|
41,008
|
|
7,782
|
|
33,226
|
|
1997
|
2007
|
35 years
|
Sunrise of Wall
|
Wall Township
|
NJ
|
9,757
|
|
1,053
|
|
19,101
|
|
538
|
|
1,063
|
|
19,629
|
|
20,692
|
|
4,381
|
|
16,311
|
|
1999
|
2007
|
35 years
|
Sunrise of Wayne
|
Wayne
|
NJ
|
13,841
|
|
1,288
|
|
24,990
|
|
1,193
|
|
1,300
|
|
26,171
|
|
27,471
|
|
5,569
|
|
21,902
|
|
1996
|
2007
|
35 years
|
Sunrise of Westfield
|
Westfield
|
NJ
|
18,341
|
|
5,057
|
|
23,803
|
|
1,174
|
|
5,068
|
|
24,966
|
|
30,034
|
|
5,353
|
|
24,681
|
|
1996
|
2007
|
35 years
|
Sunrise of Woodcliff Lake
|
Woodcliff Lake
|
NJ
|
—
|
|
3,493
|
|
30,801
|
|
839
|
|
3,502
|
|
31,631
|
|
35,133
|
|
7,027
|
|
28,106
|
|
2000
|
2007
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Sunrise of North Lynbrook
|
Lynbrook
|
NY
|
—
|
|
4,622
|
|
38,087
|
|
1,273
|
|
4,700
|
|
39,282
|
|
43,982
|
|
8,718
|
|
35,264
|
|
1999
|
2007
|
35 years
|
Sunrise at Fleetwood
|
Mount Vernon
|
NY
|
—
|
|
4,381
|
|
28,434
|
|
1,381
|
|
4,398
|
|
29,798
|
|
34,196
|
|
6,487
|
|
27,709
|
|
1999
|
2007
|
35 years
|
Sunrise of New City
|
New City
|
NY
|
—
|
|
1,906
|
|
27,323
|
|
838
|
|
1,908
|
|
28,159
|
|
30,067
|
|
6,083
|
|
23,984
|
|
1999
|
2007
|
35 years
|
Sunrise of Smithtown
|
Smithtown
|
NY
|
13,150
|
|
2,853
|
|
25,621
|
|
1,416
|
|
3,038
|
|
26,852
|
|
29,890
|
|
6,356
|
|
23,534
|
|
1999
|
2007
|
35 years
|
Sunrise of Staten Island
|
Staten Island
|
NY
|
—
|
|
7,237
|
|
23,910
|
|
(58
|
)
|
7,284
|
|
23,805
|
|
31,089
|
|
6,476
|
|
24,613
|
|
2006
|
2007
|
35 years
|
Sunrise at Parma
|
Cleveland
|
OH
|
—
|
|
695
|
|
16,641
|
|
808
|
|
720
|
|
17,424
|
|
18,144
|
|
3,695
|
|
14,449
|
|
2000
|
2007
|
35 years
|
Sunrise of Cuyahoga Falls
|
Cuyahoga Falls
|
OH
|
—
|
|
626
|
|
10,239
|
|
668
|
|
631
|
|
10,902
|
|
11,533
|
|
2,438
|
|
9,095
|
|
2000
|
2007
|
35 years
|
Sunrise of Aurora
|
Aurora
|
ON
|
—
|
|
1,570
|
|
36,113
|
|
(1,923
|
)
|
1,476
|
|
34,284
|
|
35,760
|
|
7,125
|
|
28,635
|
|
2002
|
2007
|
35 years
|
Sunrise of Burlington
|
Burlington
|
ON
|
—
|
|
1,173
|
|
24,448
|
|
422
|
|
1,190
|
|
24,853
|
|
26,043
|
|
5,107
|
|
20,936
|
|
2001
|
2007
|
35 years
|
Sunrise of Unionville
|
Markham
|
ON
|
13,395
|
|
2,322
|
|
41,140
|
|
(1,853
|
)
|
2,213
|
|
39,396
|
|
41,609
|
|
8,011
|
|
33,598
|
|
2000
|
2007
|
35 years
|
Sunrise of Mississauga
|
Mississauga
|
ON
|
11,722
|
|
3,554
|
|
33,631
|
|
(1,716
|
)
|
3,370
|
|
32,099
|
|
35,469
|
|
6,602
|
|
28,867
|
|
2000
|
2007
|
35 years
|
Sunrise of Erin Mills
|
Mississauga
|
ON
|
—
|
|
1,957
|
|
27,020
|
|
(1,291
|
)
|
1,834
|
|
25,852
|
|
27,686
|
|
5,704
|
|
21,982
|
|
2007
|
2007
|
35 years
|
Sunrise of Oakville
|
Oakville
|
ON
|
—
|
|
2,753
|
|
37,489
|
|
660
|
|
2,756
|
|
38,146
|
|
40,902
|
|
7,751
|
|
33,151
|
|
2002
|
2007
|
35 years
|
Sunrise of Richmond Hill
|
Richmond Hill
|
ON
|
11,042
|
|
2,155
|
|
41,254
|
|
(2,053
|
)
|
2,024
|
|
39,332
|
|
41,356
|
|
7,902
|
|
33,454
|
|
2002
|
2007
|
35 years
|
Thorne Mill of Steeles
|
Vaughan
|
ON
|
—
|
|
2,563
|
|
57,513
|
|
(465
|
)
|
1,365
|
|
58,246
|
|
59,611
|
|
10,695
|
|
48,916
|
|
2003
|
2007
|
35 years
|
Sunrise of Windsor
|
Windsor
|
ON
|
—
|
|
1,813
|
|
20,882
|
|
433
|
|
1,836
|
|
21,292
|
|
23,128
|
|
4,472
|
|
18,656
|
|
2001
|
2007
|
35 years
|
Sunrise of Abington
|
Abington
|
PA
|
23,570
|
|
1,838
|
|
53,660
|
|
2,523
|
|
1,875
|
|
56,146
|
|
58,021
|
|
11,484
|
|
46,537
|
|
1997
|
2007
|
35 years
|
Sunrise of Haverford
|
Ardmore
|
PA
|
7,395
|
|
941
|
|
25,872
|
|
1,137
|
|
962
|
|
26,988
|
|
27,950
|
|
5,627
|
|
22,323
|
|
1997
|
2007
|
35 years
|
Sunrise of Blue Bell
|
Blue Bell
|
PA
|
—
|
|
1,765
|
|
23,920
|
|
1,506
|
|
1,814
|
|
25,377
|
|
27,191
|
|
5,635
|
|
21,556
|
|
2006
|
2007
|
35 years
|
Sunrise of Exton
|
Exton
|
PA
|
—
|
|
1,123
|
|
17,765
|
|
1,064
|
|
1,151
|
|
18,801
|
|
19,952
|
|
4,198
|
|
15,754
|
|
2000
|
2007
|
35 years
|
Sunrise at Granite Run
|
Media
|
PA
|
11,381
|
|
1,272
|
|
31,781
|
|
1,507
|
|
1,335
|
|
33,225
|
|
34,560
|
|
6,774
|
|
27,786
|
|
1997
|
2007
|
35 years
|
Sunrise of Westtown
|
West Chester
|
PA
|
—
|
|
1,547
|
|
22,996
|
|
987
|
|
1,566
|
|
23,964
|
|
25,530
|
|
5,594
|
|
19,936
|
|
1999
|
2007
|
35 years
|
Sunrise of Lower Makefield
|
Yardley
|
PA
|
—
|
|
3,165
|
|
21,337
|
|
41
|
|
3,165
|
|
21,378
|
|
24,543
|
|
1,257
|
|
23,286
|
|
2008
|
2012
|
35 years
|
Sunrise of Hillcrest
|
Dallas
|
TX
|
—
|
|
2,616
|
|
27,680
|
|
413
|
|
2,624
|
|
28,085
|
|
30,709
|
|
5,953
|
|
24,756
|
|
2006
|
2007
|
35 years
|
Sunrise of Fort Worth
|
Fort Worth
|
TX
|
—
|
|
2,024
|
|
18,587
|
|
45
|
|
2,024
|
|
18,632
|
|
20,656
|
|
1,079
|
|
19,577
|
|
2007
|
2012
|
35 years
|
Sunrise of Frisco
|
Frisco
|
TX
|
—
|
|
2,523
|
|
14,547
|
|
49
|
|
2,535
|
|
14,584
|
|
17,119
|
|
761
|
|
16,358
|
|
2009
|
2012
|
35 years
|
Sunrise of Cinco Ranch
|
Katy
|
TX
|
—
|
|
2,512
|
|
21,600
|
|
45
|
|
2,524
|
|
21,633
|
|
24,157
|
|
1,234
|
|
22,923
|
|
2007
|
2012
|
35 years
|
Sunrise of Holladay
|
Holladay
|
UT
|
—
|
|
2,542
|
|
44,771
|
|
154
|
|
2,542
|
|
44,925
|
|
47,467
|
|
2,539
|
|
44,928
|
|
2008
|
2012
|
35 years
|
Sunrise of Sandy
|
Sandy
|
UT
|
—
|
|
2,576
|
|
22,987
|
|
(103
|
)
|
2,612
|
|
22,848
|
|
25,460
|
|
4,955
|
|
20,505
|
|
2007
|
2007
|
35 years
|
Sunrise of Alexandria
|
Alexandria
|
VA
|
5,357
|
|
88
|
|
14,811
|
|
1,221
|
|
158
|
|
15,962
|
|
16,120
|
|
3,923
|
|
12,197
|
|
1998
|
2007
|
35 years
|
Sunrise of Richmond
|
Richmond
|
VA
|
—
|
|
1,120
|
|
17,446
|
|
1,021
|
|
1,148
|
|
18,439
|
|
19,587
|
|
4,171
|
|
15,416
|
|
1999
|
2007
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Sunrise of Bon Air
|
Richmond
|
VA
|
—
|
|
2,047
|
|
22,079
|
|
32
|
|
2,047
|
|
22,111
|
|
24,158
|
|
1,311
|
|
22,847
|
|
2008
|
2012
|
35 years
|
Sunrise of Springfield
|
Springfield
|
VA
|
8,468
|
|
4,440
|
|
18,834
|
|
1,201
|
|
4,454
|
|
20,021
|
|
24,475
|
|
4,367
|
|
20,108
|
|
1997
|
2007
|
35 years
|
TOTAL FOR SUNRISE SENIORS HOUSING COMMUNITIES
|
|
|
387,627
|
|
254,131
|
|
2,599,161
|
|
71,812
|
|
254,376
|
|
2,670,728
|
|
2,925,104
|
|
516,487
|
|
2,408,617
|
|
|
|
|
ATRIA SENIORS HOUSING COMMUNITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Atria Regency
|
Mobile
|
AL
|
—
|
|
950
|
|
11,897
|
|
594
|
|
950
|
|
12,491
|
|
13,441
|
|
1,418
|
|
12,023
|
|
1996
|
2011
|
35 years
|
Atria Chandler Villas
|
Chandler
|
AZ
|
7,821
|
|
3,650
|
|
8,450
|
|
676
|
|
3,665
|
|
9,111
|
|
12,776
|
|
1,424
|
|
11,352
|
|
1988
|
2011
|
35 years
|
Atria Campana Del Rio
|
Tucson
|
AZ
|
—
|
|
5,861
|
|
37,284
|
|
560
|
|
5,892
|
|
37,813
|
|
43,705
|
|
4,142
|
|
39,563
|
|
1964
|
2011
|
35 years
|
Atria Valley Manor
|
Tucson
|
AZ
|
—
|
|
1,709
|
|
60
|
|
192
|
|
1,709
|
|
252
|
|
1,961
|
|
90
|
|
1,871
|
|
1963
|
2011
|
35 years
|
Atria Bell Court Gardens
|
Tucson
|
AZ
|
18,681
|
|
3,010
|
|
30,969
|
|
320
|
|
3,010
|
|
31,289
|
|
34,299
|
|
3,031
|
|
31,268
|
|
1964
|
2011
|
35 years
|
Atria Burlingame
|
Burlingame
|
CA
|
7,422
|
|
2,494
|
|
12,373
|
|
464
|
|
2,501
|
|
12,830
|
|
15,331
|
|
1,326
|
|
14,005
|
|
1977
|
2011
|
35 years
|
Atria Las Posas
|
Camarillo
|
CA
|
—
|
|
4,500
|
|
28,436
|
|
321
|
|
4,508
|
|
28,749
|
|
33,257
|
|
2,724
|
|
30,533
|
|
1997
|
2011
|
35 years
|
Atria Carmichael Oaks
|
Carmichael
|
CA
|
19,284
|
|
2,118
|
|
49,694
|
|
—
|
|
2,118
|
|
49,694
|
|
51,812
|
|
628
|
|
51,184
|
|
1992
|
2013
|
35 years
|
Atria El Camino Gardens
|
Carmichael
|
CA
|
—
|
|
6,930
|
|
32,318
|
|
1,164
|
|
6,971
|
|
33,441
|
|
40,412
|
|
3,305
|
|
37,107
|
|
1984
|
2011
|
35 years
|
Atria Covina
|
Covina
|
CA
|
—
|
|
170
|
|
4,131
|
|
315
|
|
176
|
|
4,440
|
|
4,616
|
|
581
|
|
4,035
|
|
1977
|
2011
|
35 years
|
Atria Daly City
|
Daly City
|
CA
|
7,550
|
|
3,090
|
|
13,448
|
|
392
|
|
3,090
|
|
13,840
|
|
16,930
|
|
1,381
|
|
15,549
|
|
1975
|
2011
|
35 years
|
Atria Covell Gardens
|
Davis
|
CA
|
19,369
|
|
2,163
|
|
39,657
|
|
4,076
|
|
2,254
|
|
43,642
|
|
45,896
|
|
4,134
|
|
41,762
|
|
1987
|
2011
|
35 years
|
Atria Encinitas
|
Encinitas
|
CA
|
—
|
|
5,880
|
|
9,212
|
|
465
|
|
5,891
|
|
9,666
|
|
15,557
|
|
1,104
|
|
14,453
|
|
1984
|
2011
|
35 years
|
Atria Grass Valley
|
Grass Valley
|
CA
|
12,026
|
|
1,965
|
|
28,414
|
|
—
|
|
1,965
|
|
28,414
|
|
30,379
|
|
453
|
|
29,926
|
|
2000
|
2013
|
35 years
|
Atria Golden Creek
|
Irvine
|
CA
|
—
|
|
6,900
|
|
23,544
|
|
592
|
|
6,905
|
|
24,131
|
|
31,036
|
|
2,582
|
|
28,454
|
|
1985
|
2011
|
35 years
|
Atria Woodbridge
|
Irvine
|
CA
|
—
|
|
—
|
|
5
|
|
1,074
|
|
—
|
|
1,079
|
|
1,079
|
|
19
|
|
1,060
|
|
1997
|
2012
|
35 years
|
Atria Lafayette
|
Lafayette
|
CA
|
20,249
|
|
5,679
|
|
56,922
|
|
—
|
|
5,679
|
|
56,922
|
|
62,601
|
|
694
|
|
61,907
|
|
2007
|
2013
|
35 years
|
Atria Del Sol
|
Mission Viejo
|
CA
|
—
|
|
3,500
|
|
12,458
|
|
833
|
|
3,502
|
|
13,289
|
|
16,791
|
|
1,259
|
|
15,532
|
|
1985
|
2011
|
35 years
|
Atria Tamalpais Creek
|
Novato
|
CA
|
—
|
|
5,812
|
|
24,703
|
|
314
|
|
5,817
|
|
25,012
|
|
30,829
|
|
2,381
|
|
28,448
|
|
1978
|
2011
|
35 years
|
Atria Palm Desert
|
Palm Desert
|
CA
|
—
|
|
2,887
|
|
9,843
|
|
771
|
|
3,097
|
|
10,404
|
|
13,501
|
|
1,824
|
|
11,677
|
|
1988
|
2011
|
35 years
|
Atria Hacienda
|
Palm Desert
|
CA
|
—
|
|
6,680
|
|
85,900
|
|
1,562
|
|
6,797
|
|
87,345
|
|
94,142
|
|
7,517
|
|
86,625
|
|
1989
|
2011
|
35 years
|
Atria Paradise
|
Paradise
|
CA
|
5,488
|
|
2,265
|
|
28,262
|
|
—
|
|
2,265
|
|
28,262
|
|
30,527
|
|
351
|
|
30,176
|
|
1999
|
2013
|
35 years
|
Atria Del Rey
|
Rancho Cucamonga
|
CA
|
—
|
|
3,290
|
|
17,427
|
|
4,280
|
|
3,444
|
|
21,553
|
|
24,997
|
|
2,594
|
|
22,403
|
|
1987
|
2011
|
35 years
|
Atria Collwood
|
San Diego
|
CA
|
—
|
|
290
|
|
10,650
|
|
302
|
|
314
|
|
10,928
|
|
11,242
|
|
1,252
|
|
9,990
|
|
1976
|
2011
|
35 years
|
Atria Rancho Park
|
San Dimas
|
CA
|
—
|
|
4,066
|
|
14,306
|
|
749
|
|
4,103
|
|
15,018
|
|
19,121
|
|
1,776
|
|
17,345
|
|
1975
|
2011
|
35 years
|
Atria Chateau Gardens
|
San Jose
|
CA
|
—
|
|
39
|
|
487
|
|
271
|
|
39
|
|
758
|
|
797
|
|
322
|
|
475
|
|
1977
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Atria Willow Glen
|
San Jose
|
CA
|
—
|
|
8,521
|
|
43,168
|
|
1,617
|
|
8,526
|
|
44,780
|
|
53,306
|
|
3,147
|
|
50,159
|
|
1976
|
2011
|
35 years
|
Atria Chateau San Juan
|
San Juan Capistrano
|
CA
|
—
|
|
5,110
|
|
29,436
|
|
7,695
|
|
5,305
|
|
36,936
|
|
42,241
|
|
4,116
|
|
38,125
|
|
1985
|
2011
|
35 years
|
Atria Hillsdale
|
San Mateo
|
CA
|
—
|
|
5,240
|
|
15,956
|
|
488
|
|
5,251
|
|
16,433
|
|
21,684
|
|
1,678
|
|
20,006
|
|
1986
|
2011
|
35 years
|
Atria Bayside Landing
|
Stockton
|
CA
|
—
|
|
—
|
|
467
|
|
301
|
|
—
|
|
768
|
|
768
|
|
308
|
|
460
|
|
1998
|
2011
|
35 years
|
Atria Sunnyvale
|
Sunnyvale
|
CA
|
—
|
|
6,120
|
|
30,068
|
|
1,077
|
|
6,211
|
|
31,054
|
|
37,265
|
|
2,894
|
|
34,371
|
|
1977
|
2011
|
35 years
|
Atria Tarzana
|
Tarzana
|
CA
|
—
|
|
960
|
|
47,547
|
|
—
|
|
960
|
|
47,547
|
|
48,507
|
|
426
|
|
48,081
|
|
2008
|
2013
|
35 years
|
Atria Vintage Hills
|
Temecula
|
CA
|
13,018
|
|
4,674
|
|
44,341
|
|
—
|
|
4,674
|
|
44,341
|
|
49,015
|
|
700
|
|
48,315
|
|
2000
|
2013
|
35 years
|
Atria Grand Oaks
|
Thousand Oaks
|
CA
|
22,350
|
|
5,994
|
|
50,309
|
|
—
|
|
5,994
|
|
50,309
|
|
56,303
|
|
795
|
|
55,508
|
|
2002
|
2013
|
35 years
|
Atria Hillcrest
|
Thousand Oaks
|
CA
|
—
|
|
6,020
|
|
25,635
|
|
8,879
|
|
6,393
|
|
34,141
|
|
40,534
|
|
2,826
|
|
37,708
|
|
1987
|
2011
|
35 years
|
Atria Montego Heights
|
Walnut Creek
|
CA
|
—
|
|
6,910
|
|
15,797
|
|
897
|
|
6,910
|
|
16,694
|
|
23,604
|
|
2,050
|
|
21,554
|
|
1978
|
2011
|
35 years
|
Atria Valley View
|
Walnut Creek
|
CA
|
18,145
|
|
7,139
|
|
53,914
|
|
473
|
|
7,147
|
|
54,379
|
|
61,526
|
|
7,470
|
|
54,056
|
|
1977
|
2011
|
35 years
|
Atria Applewood
|
Lakewood
|
CO
|
—
|
|
3,656
|
|
48,657
|
|
—
|
|
3,656
|
|
48,657
|
|
52,313
|
|
936
|
|
51,377
|
|
2008
|
2013
|
35 years
|
Atria Inn at Lakewood
|
Lakewood
|
CO
|
22,260
|
|
6,281
|
|
50,095
|
|
338
|
|
6,281
|
|
50,433
|
|
56,714
|
|
4,417
|
|
52,297
|
|
1999
|
2011
|
35 years
|
Atria Vistas in Longmont
|
Longmont
|
CO
|
—
|
|
2,807
|
|
24,877
|
|
150
|
|
2,807
|
|
25,027
|
|
27,834
|
|
1,515
|
|
26,319
|
|
2009
|
2012
|
35 years
|
Atria Darien
|
Darien
|
CT
|
20,447
|
|
653
|
|
37,587
|
|
2,060
|
|
824
|
|
39,476
|
|
40,300
|
|
3,637
|
|
36,663
|
|
1997
|
2011
|
35 years
|
Atria Larson Place
|
Hamden
|
CT
|
—
|
|
1,850
|
|
16,098
|
|
668
|
|
1,865
|
|
16,751
|
|
18,616
|
|
1,817
|
|
16,799
|
|
1999
|
2011
|
35 years
|
Atria Greenridge Place
|
Rocky Hill
|
CT
|
—
|
|
2,170
|
|
32,553
|
|
925
|
|
2,191
|
|
33,457
|
|
35,648
|
|
3,031
|
|
32,617
|
|
1998
|
2011
|
35 years
|
Atria Stamford
|
Stamford
|
CT
|
38,046
|
|
1,200
|
|
62,432
|
|
3,006
|
|
1,242
|
|
65,396
|
|
66,638
|
|
5,954
|
|
60,684
|
|
1975
|
2011
|
35 years
|
Atria Stratford
|
Stratford
|
CT
|
15,474
|
|
3,210
|
|
27,865
|
|
645
|
|
3,210
|
|
28,510
|
|
31,720
|
|
2,865
|
|
28,855
|
|
1999
|
2011
|
35 years
|
Atria Crossroads Place
|
Waterford
|
CT
|
—
|
|
2,401
|
|
36,495
|
|
1,112
|
|
2,401
|
|
37,607
|
|
40,008
|
|
3,359
|
|
36,649
|
|
2000
|
2011
|
35 years
|
Atria Hamilton Heights
|
West Hartford
|
CT
|
—
|
|
3,120
|
|
14,674
|
|
1,477
|
|
3,151
|
|
16,120
|
|
19,271
|
|
2,003
|
|
17,268
|
|
1904
|
2011
|
35 years
|
Atria Windsor Woods
|
Hudson
|
FL
|
—
|
|
1,610
|
|
32,432
|
|
559
|
|
1,612
|
|
32,989
|
|
34,601
|
|
3,485
|
|
31,116
|
|
1988
|
2011
|
35 years
|
Atria Baypoint Village
|
Hudson
|
FL
|
16,361
|
|
2,083
|
|
28,841
|
|
829
|
|
2,094
|
|
29,659
|
|
31,753
|
|
3,382
|
|
28,371
|
|
1986
|
2011
|
35 years
|
Atria San Pablo
|
Jacksonville
|
FL
|
5,781
|
|
1,620
|
|
14,920
|
|
283
|
|
1,636
|
|
15,187
|
|
16,823
|
|
1,437
|
|
15,386
|
|
1999
|
2011
|
35 years
|
Atria at St. Joseph's
|
Jupiter
|
FL
|
16,400
|
|
5,520
|
|
30,720
|
|
—
|
|
5,520
|
|
30,720
|
|
36,240
|
|
401
|
|
35,839
|
|
2007
|
2013
|
35 years
|
Atria Meridian
|
Lake Worth
|
FL
|
—
|
|
—
|
|
10
|
|
329
|
|
—
|
|
339
|
|
339
|
|
34
|
|
305
|
|
1986
|
2012
|
35 years
|
Atria Heritage at Lake Forest
|
Sanford
|
FL
|
—
|
|
3,589
|
|
32,586
|
|
1,641
|
|
3,589
|
|
34,227
|
|
37,816
|
|
2,761
|
|
35,055
|
|
2002
|
2011
|
35 years
|
Atria Evergreen Woods
|
Spring Hill
|
FL
|
—
|
|
2,370
|
|
28,371
|
|
1,967
|
|
2,406
|
|
30,302
|
|
32,708
|
|
3,337
|
|
29,371
|
|
1981
|
2011
|
35 years
|
Atria Buckhead
|
Atlanta
|
GA
|
—
|
|
3,660
|
|
5,274
|
|
295
|
|
3,672
|
|
5,557
|
|
9,229
|
|
795
|
|
8,434
|
|
1996
|
2011
|
35 years
|
Atria Mableton
|
Austell
|
GA
|
—
|
|
1,911
|
|
18,879
|
|
—
|
|
1,911
|
|
18,879
|
|
20,790
|
|
360
|
|
20,430
|
|
2000
|
2013
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Atria Johnson Ferry
|
Marietta
|
GA
|
—
|
|
990
|
|
6,453
|
|
136
|
|
990
|
|
6,589
|
|
7,579
|
|
747
|
|
6,832
|
|
1995
|
2011
|
35 years
|
Atria Tucker
|
Tucker
|
GA
|
—
|
|
1,103
|
|
20,679
|
|
—
|
|
1,103
|
|
20,679
|
|
21,782
|
|
388
|
|
21,394
|
|
2000
|
2013
|
35 years
|
Atria Newburgh
|
Newburgh
|
IN
|
—
|
|
1,150
|
|
22,880
|
|
256
|
|
1,150
|
|
23,136
|
|
24,286
|
|
2,153
|
|
22,133
|
|
1998
|
2011
|
35 years
|
Atria Hearthstone East
|
Topeka
|
KS
|
—
|
|
1,150
|
|
20,544
|
|
470
|
|
1,167
|
|
20,997
|
|
22,164
|
|
2,092
|
|
20,072
|
|
1998
|
2011
|
35 years
|
Atria Hearthstone West
|
Topeka
|
KS
|
—
|
|
1,230
|
|
28,379
|
|
713
|
|
1,230
|
|
29,092
|
|
30,322
|
|
3,091
|
|
27,231
|
|
1987
|
2011
|
35 years
|
Atria Highland Crossing
|
Covington
|
KY
|
11,299
|
|
1,677
|
|
14,393
|
|
618
|
|
1,680
|
|
15,008
|
|
16,688
|
|
1,813
|
|
14,875
|
|
1988
|
2011
|
35 years
|
Atria Summit Hills
|
Crestview Hills
|
KY
|
6,212
|
|
1,780
|
|
15,769
|
|
524
|
|
1,784
|
|
16,289
|
|
18,073
|
|
1,686
|
|
16,387
|
|
1998
|
2011
|
35 years
|
Atria Elizabethtown
|
Elizabethtown
|
KY
|
—
|
|
850
|
|
12,510
|
|
233
|
|
869
|
|
12,724
|
|
13,593
|
|
1,242
|
|
12,351
|
|
1996
|
2011
|
35 years
|
Atria St. Matthews
|
Louisville
|
KY
|
7,521
|
|
939
|
|
9,274
|
|
454
|
|
939
|
|
9,728
|
|
10,667
|
|
1,347
|
|
9,320
|
|
1998
|
2011
|
35 years
|
Atria Stony Brook
|
Louisville
|
KY
|
—
|
|
1,860
|
|
17,561
|
|
303
|
|
1,888
|
|
17,836
|
|
19,724
|
|
1,839
|
|
17,885
|
|
1999
|
2011
|
35 years
|
Atria Springdale
|
Louisville
|
KY
|
—
|
|
1,410
|
|
16,702
|
|
352
|
|
1,410
|
|
17,054
|
|
18,464
|
|
1,757
|
|
16,707
|
|
1999
|
2011
|
35 years
|
Atria Marland Place
|
Andover
|
MA
|
—
|
|
1,831
|
|
34,592
|
|
1,734
|
|
1,834
|
|
36,323
|
|
38,157
|
|
3,259
|
|
34,898
|
|
1996
|
2011
|
35 years
|
Atria Longmeadow Place
|
Burlington
|
MA
|
22,944
|
|
5,310
|
|
58,021
|
|
757
|
|
5,310
|
|
58,778
|
|
64,088
|
|
5,054
|
|
59,034
|
|
1998
|
2011
|
35 years
|
Atria Fairhaven (Alden)
|
Fairhaven
|
MA
|
—
|
|
1,100
|
|
16,093
|
|
421
|
|
1,100
|
|
16,514
|
|
17,614
|
|
1,531
|
|
16,083
|
|
1999
|
2011
|
35 years
|
Atria Woodbriar Place
|
Falmouth
|
MA
|
30,000
|
|
4,630
|
|
—
|
|
32,388
|
|
6,254
|
|
30,764
|
|
37,018
|
|
544
|
|
36,474
|
|
2013
|
2011
|
CIP
|
Atria Woodbriar
|
Falmouth
|
MA
|
—
|
|
1,970
|
|
43,693
|
|
1,640
|
|
1,974
|
|
45,329
|
|
47,303
|
|
3,774
|
|
43,529
|
|
1975
|
2011
|
35 years
|
Atria Draper Place
|
Hopedale
|
MA
|
—
|
|
1,140
|
|
17,794
|
|
583
|
|
1,154
|
|
18,363
|
|
19,517
|
|
1,744
|
|
17,773
|
|
1998
|
2011
|
35 years
|
Atria Merrimack Place
|
Newburyport
|
MA
|
—
|
|
2,774
|
|
40,645
|
|
800
|
|
2,800
|
|
41,419
|
|
44,219
|
|
3,558
|
|
40,661
|
|
2000
|
2011
|
35 years
|
Atria Marina Place
|
Quincy
|
MA
|
—
|
|
2,590
|
|
33,899
|
|
818
|
|
2,605
|
|
34,702
|
|
37,307
|
|
3,258
|
|
34,049
|
|
1999
|
2011
|
35 years
|
Atria Manresa
|
Annapolis
|
MD
|
—
|
|
4,193
|
|
19,000
|
|
701
|
|
4,450
|
|
19,444
|
|
23,894
|
|
1,858
|
|
22,036
|
|
1920
|
2011
|
35 years
|
Atria Salisbury
|
Salisbury
|
MD
|
—
|
|
1,940
|
|
24,500
|
|
224
|
|
1,940
|
|
24,724
|
|
26,664
|
|
2,206
|
|
24,458
|
|
1995
|
2011
|
35 years
|
Atria Kennebunk
|
Kennebunk
|
ME
|
—
|
|
1,090
|
|
23,496
|
|
402
|
|
1,092
|
|
23,896
|
|
24,988
|
|
2,269
|
|
22,719
|
|
1998
|
2011
|
35 years
|
Atria Kinghaven
|
Riverview
|
MI
|
14,003
|
|
1,440
|
|
26,260
|
|
529
|
|
1,496
|
|
26,733
|
|
28,229
|
|
2,807
|
|
25,422
|
|
1987
|
2011
|
35 years
|
Atria Shorehaven
|
Sterling Heights
|
MI
|
—
|
|
—
|
|
8
|
|
457
|
|
—
|
|
465
|
|
465
|
|
24
|
|
441
|
|
1989
|
2012
|
35 years
|
Atria Merrywood
|
Charlotte
|
NC
|
—
|
|
1,678
|
|
36,892
|
|
652
|
|
1,678
|
|
37,544
|
|
39,222
|
|
3,888
|
|
35,334
|
|
1991
|
2011
|
35 years
|
Atria Southpoint
|
Durham
|
NC
|
17,250
|
|
2,130
|
|
25,920
|
|
—
|
|
2,130
|
|
25,920
|
|
28,050
|
|
506
|
|
27,544
|
|
2009
|
2013
|
35 years
|
Atria Oakridge
|
Raleigh
|
NC
|
16,000
|
|
1,482
|
|
28,838
|
|
—
|
|
1,482
|
|
28,838
|
|
30,320
|
|
557
|
|
29,763
|
|
2009
|
2013
|
35 years
|
Atria Cranford
|
Cranford
|
NJ
|
26,922
|
|
8,260
|
|
61,411
|
|
2,092
|
|
8,310
|
|
63,453
|
|
71,763
|
|
5,771
|
|
65,992
|
|
1993
|
2011
|
35 years
|
Atria Tinton Falls
|
Tinton Falls
|
NJ
|
—
|
|
6,580
|
|
13,258
|
|
644
|
|
6,584
|
|
13,898
|
|
20,482
|
|
1,696
|
|
18,786
|
|
1999
|
2011
|
35 years
|
Atria Vista del Rio
|
Albuquerque
|
NM
|
—
|
|
—
|
|
36
|
|
332
|
|
27
|
|
341
|
|
368
|
|
24
|
|
344
|
|
1997
|
2012
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Atria Sunlake
|
Las Vegas
|
NV
|
—
|
|
7
|
|
732
|
|
301
|
|
7
|
|
1,033
|
|
1,040
|
|
494
|
|
546
|
|
1998
|
2011
|
35 years
|
Atria Sutton
|
Las Vegas
|
NV
|
—
|
|
—
|
|
863
|
|
448
|
|
23
|
|
1,288
|
|
1,311
|
|
581
|
|
730
|
|
1998
|
2011
|
35 years
|
Atria Seville
|
Las Vegas
|
NV
|
—
|
|
—
|
|
796
|
|
379
|
|
—
|
|
1,175
|
|
1,175
|
|
512
|
|
663
|
|
1999
|
2011
|
35 years
|
Atria Summit Ridge
|
Reno
|
NV
|
—
|
|
4
|
|
407
|
|
143
|
|
4
|
|
550
|
|
554
|
|
276
|
|
278
|
|
1997
|
2011
|
35 years
|
Atria Shaker
|
Albany
|
NY
|
12,452
|
|
1,520
|
|
29,667
|
|
437
|
|
1,626
|
|
29,998
|
|
31,624
|
|
2,836
|
|
28,788
|
|
1997
|
2011
|
35 years
|
Atria Crossgate
|
Albany
|
NY
|
—
|
|
1,080
|
|
20,599
|
|
314
|
|
1,080
|
|
20,913
|
|
21,993
|
|
2,057
|
|
19,936
|
|
1980
|
2011
|
35 years
|
Atria Woodlands
|
Ardsley
|
NY
|
47,277
|
|
7,660
|
|
65,581
|
|
686
|
|
7,682
|
|
66,245
|
|
73,927
|
|
6,028
|
|
67,899
|
|
2005
|
2011
|
35 years
|
Atria Bay Shore
|
Bay Shore
|
NY
|
15,275
|
|
4,440
|
|
31,983
|
|
732
|
|
4,448
|
|
32,707
|
|
37,155
|
|
3,044
|
|
34,111
|
|
1900
|
2011
|
35 years
|
Atria Briarcliff Manor
|
Briarcliff Manor
|
NY
|
14,381
|
|
6,560
|
|
33,885
|
|
1,159
|
|
6,585
|
|
35,019
|
|
41,604
|
|
3,264
|
|
38,340
|
|
1997
|
2011
|
35 years
|
Atria Riverdale
|
Bronx
|
NY
|
22,076
|
|
1,020
|
|
24,149
|
|
3,239
|
|
1,035
|
|
27,373
|
|
28,408
|
|
2,667
|
|
25,741
|
|
1999
|
2011
|
35 years
|
Atria Delmar Place
|
Delmar
|
NY
|
—
|
|
1,201
|
|
24,850
|
|
—
|
|
1,201
|
|
24,850
|
|
26,051
|
|
—
|
|
26,051
|
|
2004
|
2013
|
35 years
|
Atria East Northport
|
East Northport
|
NY
|
—
|
|
9,960
|
|
34,467
|
|
1,219
|
|
9,960
|
|
35,686
|
|
45,646
|
|
3,430
|
|
42,216
|
|
1996
|
2011
|
35 years
|
Atria Glen Cove
|
Glen Cove
|
NY
|
—
|
|
2,035
|
|
25,190
|
|
714
|
|
2,049
|
|
25,890
|
|
27,939
|
|
4,561
|
|
23,378
|
|
1997
|
2011
|
35 years
|
Atria Great Neck
|
Great Neck
|
NY
|
—
|
|
3,390
|
|
54,051
|
|
397
|
|
3,390
|
|
54,448
|
|
57,838
|
|
4,723
|
|
53,115
|
|
1998
|
2011
|
35 years
|
Atria Cutter Mill
|
Great Neck
|
NY
|
35,532
|
|
2,750
|
|
47,919
|
|
485
|
|
2,756
|
|
48,398
|
|
51,154
|
|
4,369
|
|
46,785
|
|
1999
|
2011
|
35 years
|
Atria Huntington
|
Huntington Station
|
NY
|
—
|
|
8,190
|
|
1,169
|
|
928
|
|
8,207
|
|
2,080
|
|
10,287
|
|
703
|
|
9,584
|
|
1987
|
2011
|
35 years
|
Atria Hertlin House
|
Lake Ronkonkoma
|
NY
|
—
|
|
7,886
|
|
16,391
|
|
303
|
|
7,886
|
|
16,694
|
|
24,580
|
|
620
|
|
23,960
|
|
2002
|
2012
|
35 years
|
Atria Lynbrook
|
Lynbrook
|
NY
|
—
|
|
3,145
|
|
5,489
|
|
402
|
|
3,147
|
|
5,889
|
|
9,036
|
|
925
|
|
8,111
|
|
1996
|
2011
|
35 years
|
Atria Tanglewood
|
Lynbrook
|
NY
|
26,195
|
|
4,120
|
|
37,348
|
|
319
|
|
4,142
|
|
37,645
|
|
41,787
|
|
3,354
|
|
38,433
|
|
2005
|
2011
|
35 years
|
Atria 86th Street
|
New York
|
NY
|
—
|
|
80
|
|
73,685
|
|
2,828
|
|
122
|
|
76,471
|
|
76,593
|
|
7,067
|
|
69,526
|
|
1998
|
2011
|
35 years
|
Atria on the Hudson
|
Ossining
|
NY
|
—
|
|
8,123
|
|
63,089
|
|
2,049
|
|
8,141
|
|
65,120
|
|
73,261
|
|
6,280
|
|
66,981
|
|
1972
|
2011
|
35 years
|
Atria Penfield
|
Penfield
|
NY
|
—
|
|
620
|
|
22,036
|
|
366
|
|
622
|
|
22,400
|
|
23,022
|
|
2,140
|
|
20,882
|
|
1972
|
2011
|
35 years
|
Atria Plainview
|
Plainview
|
NY
|
13,740
|
|
2,480
|
|
16,060
|
|
477
|
|
2,492
|
|
16,525
|
|
19,017
|
|
1,666
|
|
17,351
|
|
2000
|
2011
|
35 years
|
Atria Rye Brook
|
Port Chester
|
NY
|
44,418
|
|
9,660
|
|
74,936
|
|
569
|
|
9,665
|
|
75,500
|
|
85,165
|
|
6,739
|
|
78,426
|
|
2004
|
2011
|
35 years
|
Atria Kew Gardens
|
Queens
|
NY
|
28,453
|
|
3,051
|
|
66,013
|
|
2,012
|
|
3,051
|
|
68,025
|
|
71,076
|
|
5,742
|
|
65,334
|
|
1999
|
2011
|
35 years
|
Atria Forest Hills
|
Queens
|
NY
|
—
|
|
2,050
|
|
16,680
|
|
287
|
|
2,050
|
|
16,967
|
|
19,017
|
|
1,699
|
|
17,318
|
|
2001
|
2011
|
35 years
|
Atria Greece
|
Rochester
|
NY
|
—
|
|
410
|
|
14,967
|
|
460
|
|
412
|
|
15,425
|
|
15,837
|
|
1,505
|
|
14,332
|
|
1970
|
2011
|
35 years
|
Atria on Roslyn Harbor
|
Roslyn
|
NY
|
65,000
|
|
12,909
|
|
72,720
|
|
667
|
|
12,909
|
|
73,387
|
|
86,296
|
|
6,409
|
|
79,887
|
|
2006
|
2011
|
35 years
|
Atria Guilderland
|
Slingerlands
|
NY
|
—
|
|
1,170
|
|
22,414
|
|
206
|
|
1,171
|
|
22,619
|
|
23,790
|
|
2,115
|
|
21,675
|
|
1950
|
2011
|
35 years
|
Atria South Setauket
|
South Setauket
|
NY
|
—
|
|
8,450
|
|
14,534
|
|
579
|
|
8,770
|
|
14,793
|
|
23,563
|
|
2,162
|
|
21,401
|
|
1967
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Redwood Retirement
|
Napa
|
CA
|
—
|
|
2,798
|
|
12,639
|
|
—
|
|
2,798
|
|
12,639
|
|
15,437
|
|
108
|
|
15,329
|
|
1986
|
2013
|
35 years
|
Villa de Palma
|
Placentia
|
CA
|
—
|
|
1,260
|
|
10,174
|
|
—
|
|
1,260
|
|
10,174
|
|
11,434
|
|
922
|
|
10,512
|
|
1982
|
2011
|
35 years
|
Valencia Commons
|
Rancho Cucamonga
|
CA
|
—
|
|
1,439
|
|
36,363
|
|
—
|
|
1,439
|
|
36,363
|
|
37,802
|
|
303
|
|
37,499
|
|
2002
|
2013
|
35 years
|
Mission Hills
|
Rancho Mirage
|
CA
|
—
|
|
6,800
|
|
3,637
|
|
—
|
|
6,800
|
|
3,637
|
|
10,437
|
|
536
|
|
9,901
|
|
1999
|
2011
|
35 years
|
Shasta Estates
|
Redding
|
CA
|
—
|
|
1,180
|
|
23,463
|
|
—
|
|
1,180
|
|
23,463
|
|
24,643
|
|
196
|
|
24,447
|
|
2009
|
2013
|
35 years
|
The Vistas
|
Redding
|
CA
|
—
|
|
1,290
|
|
22,033
|
|
—
|
|
1,290
|
|
22,033
|
|
23,323
|
|
1,776
|
|
21,547
|
|
2007
|
2011
|
35 years
|
Elmcroft of Point Loma
|
San Diego
|
CA
|
—
|
|
2,117
|
|
6,865
|
|
—
|
|
2,117
|
|
6,865
|
|
8,982
|
|
1,406
|
|
7,576
|
|
1999
|
2006
|
35 years
|
Regency of Evergreen Valley
|
San Jose
|
CA
|
—
|
|
2,700
|
|
7,994
|
|
—
|
|
2,700
|
|
7,994
|
|
10,694
|
|
873
|
|
9,821
|
|
1998
|
2011
|
35 years
|
Villa del Obispo
|
San Juan Capistrano
|
CA
|
—
|
|
2,660
|
|
9,560
|
|
—
|
|
2,660
|
|
9,560
|
|
12,220
|
|
851
|
|
11,369
|
|
1985
|
2011
|
35 years
|
Villa Santa Barbara
|
Santa Barbara
|
CA
|
—
|
|
1,219
|
|
12,426
|
|
—
|
|
1,219
|
|
12,426
|
|
13,645
|
|
3,069
|
|
10,576
|
|
1977
|
2005
|
35 years
|
Eagle Lake Village
|
Susanville
|
CA
|
—
|
|
1,165
|
|
6,719
|
|
—
|
|
1,165
|
|
6,719
|
|
7,884
|
|
331
|
|
7,553
|
|
2006
|
2012
|
35 years
|
Emeritus at Heritage Place
|
Tracy
|
CA
|
—
|
|
1,110
|
|
13,296
|
|
—
|
|
1,110
|
|
13,296
|
|
14,406
|
|
3,494
|
|
10,912
|
|
1986
|
2005
|
35 years
|
Bonaventure, The
|
Ventura
|
CA
|
—
|
|
5,294
|
|
32,747
|
|
—
|
|
5,294
|
|
32,747
|
|
38,041
|
|
278
|
|
37,763
|
|
2005
|
2013
|
35 years
|
Vista Village
|
Vista
|
CA
|
—
|
|
1,630
|
|
5,640
|
|
61
|
|
1,630
|
|
5,701
|
|
7,331
|
|
580
|
|
6,751
|
|
1980
|
2011
|
35 years
|
Rancho Vista
|
Vista
|
CA
|
—
|
|
6,730
|
|
21,828
|
|
—
|
|
6,730
|
|
21,828
|
|
28,558
|
|
4,470
|
|
24,088
|
|
1982
|
2006
|
35 years
|
Westminster Terrace
|
Westminster
|
CA
|
—
|
|
1,700
|
|
11,514
|
|
—
|
|
1,700
|
|
11,514
|
|
13,214
|
|
944
|
|
12,270
|
|
2001
|
2011
|
35 years
|
Highland Trail
|
Broomfield
|
CO
|
—
|
|
2,511
|
|
26,431
|
|
—
|
|
2,511
|
|
26,431
|
|
28,942
|
|
222
|
|
28,720
|
|
2009
|
2013
|
35 years
|
Caley Ridge
|
Englewood
|
CO
|
—
|
|
1,157
|
|
13,133
|
|
—
|
|
1,157
|
|
13,133
|
|
14,290
|
|
646
|
|
13,644
|
|
1999
|
2012
|
35 years
|
Garden Square at Westlake
|
Greeley
|
CO
|
—
|
|
630
|
|
8,211
|
|
—
|
|
630
|
|
8,211
|
|
8,841
|
|
699
|
|
8,142
|
|
1998
|
2011
|
35 years
|
Garden Square of Greeley
|
Greeley
|
CO
|
—
|
|
330
|
|
2,735
|
|
—
|
|
330
|
|
2,735
|
|
3,065
|
|
242
|
|
2,823
|
|
1995
|
2011
|
35 years
|
Lakewood Estates
|
Lakewood
|
CO
|
—
|
|
1,306
|
|
21,137
|
|
—
|
|
1,306
|
|
21,137
|
|
22,443
|
|
177
|
|
22,266
|
|
1988
|
2013
|
35 years
|
Sugar Valley Estates
|
Loveland
|
CO
|
—
|
|
1,255
|
|
21,837
|
|
—
|
|
1,255
|
|
21,837
|
|
23,092
|
|
183
|
|
22,909
|
|
2009
|
2013
|
35 years
|
Devonshire Acres
|
Sterling
|
CO
|
—
|
|
950
|
|
13,569
|
|
(3,501
|
)
|
950
|
|
10,068
|
|
11,018
|
|
878
|
|
10,140
|
|
1979
|
2011
|
35 years
|
Gardenside Terrace
|
Branford
|
CT
|
—
|
|
7,000
|
|
31,518
|
|
—
|
|
7,000
|
|
31,518
|
|
38,518
|
|
2,543
|
|
35,975
|
|
1999
|
2011
|
35 years
|
Hearth at Tuxis Pond
|
Madison
|
CT
|
—
|
|
1,610
|
|
44,322
|
|
—
|
|
1,610
|
|
44,322
|
|
45,932
|
|
3,402
|
|
42,530
|
|
2002
|
2011
|
35 years
|
White Oaks
|
Manchester
|
CT
|
—
|
|
2,584
|
|
34,507
|
|
—
|
|
2,584
|
|
34,507
|
|
37,091
|
|
289
|
|
36,802
|
|
2007
|
2013
|
35 years
|
Emeritus at South Windsor
|
South Windsor
|
CT
|
—
|
|
2,187
|
|
12,682
|
|
—
|
|
2,187
|
|
12,682
|
|
14,869
|
|
3,581
|
|
11,288
|
|
1999
|
2004
|
35 years
|
Hampton Manor Belleview
|
Belleview
|
FL
|
—
|
|
390
|
|
8,337
|
|
—
|
|
390
|
|
8,337
|
|
8,727
|
|
707
|
|
8,020
|
|
1988
|
2011
|
35 years
|
Emeritus at Bonita Springs
|
Bonita Springs
|
FL
|
9,155
|
|
1,540
|
|
10,783
|
|
—
|
|
1,540
|
|
10,783
|
|
12,323
|
|
3,481
|
|
8,842
|
|
1989
|
2005
|
35 years
|
Emeritus at Boynton Beach
|
Boynton Beach
|
FL
|
14,030
|
|
2,317
|
|
16,218
|
|
—
|
|
2,317
|
|
16,218
|
|
18,535
|
|
5,051
|
|
13,484
|
|
1999
|
2005
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Carillon ALF of Cramer Mountain
|
Cramerton
|
NC
|
—
|
|
530
|
|
18,225
|
|
—
|
|
530
|
|
18,225
|
|
18,755
|
|
1,464
|
|
17,291
|
|
1999
|
2011
|
35 years
|
Carillon ALF of Harrisburg
|
Harrisburg
|
NC
|
—
|
|
1,660
|
|
15,130
|
|
—
|
|
1,660
|
|
15,130
|
|
16,790
|
|
1,209
|
|
15,581
|
|
1997
|
2011
|
35 years
|
Carillon ALF of Hendersonville
|
Hendersonville
|
NC
|
—
|
|
2,210
|
|
7,372
|
|
—
|
|
2,210
|
|
7,372
|
|
9,582
|
|
670
|
|
8,912
|
|
2005
|
2011
|
35 years
|
Carillon ALF of Hillsborough
|
Hillsborough
|
NC
|
—
|
|
1,450
|
|
19,754
|
|
—
|
|
1,450
|
|
19,754
|
|
21,204
|
|
1,551
|
|
19,653
|
|
2005
|
2011
|
35 years
|
Willow Grove
|
Matthews
|
NC
|
—
|
|
763
|
|
27,544
|
|
—
|
|
763
|
|
27,544
|
|
28,307
|
|
229
|
|
28,078
|
|
2009
|
2013
|
35 years
|
Carillon ALF of Newton
|
Newton
|
NC
|
—
|
|
540
|
|
14,935
|
|
—
|
|
540
|
|
14,935
|
|
15,475
|
|
1,190
|
|
14,285
|
|
2000
|
2011
|
35 years
|
Independence Village of Olde Raleigh
|
Raleigh
|
NC
|
10,123
|
|
1,989
|
|
18,648
|
|
—
|
|
1,989
|
|
18,648
|
|
20,637
|
|
878
|
|
19,759
|
|
1991
|
2012
|
35 years
|
Elmcroft of Northridge
|
Raleigh
|
NC
|
—
|
|
184
|
|
3,592
|
|
—
|
|
184
|
|
3,592
|
|
3,776
|
|
735
|
|
3,041
|
|
1984
|
2006
|
35 years
|
Carillon ALF of Salisbury
|
Salisbury
|
NC
|
—
|
|
1,580
|
|
25,026
|
|
—
|
|
1,580
|
|
25,026
|
|
26,606
|
|
1,950
|
|
24,656
|
|
1999
|
2011
|
35 years
|
Carillon ALF of Shelby
|
Shelby
|
NC
|
—
|
|
660
|
|
15,471
|
|
—
|
|
660
|
|
15,471
|
|
16,131
|
|
1,235
|
|
14,896
|
|
2000
|
2011
|
35 years
|
Elmcroft of Southern Pines
|
Southern Pines
|
NC
|
—
|
|
1,196
|
|
10,766
|
|
—
|
|
1,196
|
|
10,766
|
|
11,962
|
|
1,153
|
|
10,809
|
|
1998
|
2010
|
35 years
|
Carillon ALF of Southport
|
Southport
|
NC
|
—
|
|
1,330
|
|
10,356
|
|
—
|
|
1,330
|
|
10,356
|
|
11,686
|
|
883
|
|
10,803
|
|
2005
|
2011
|
35 years
|
Primrose Bismarck
|
Bismarck
|
ND
|
—
|
|
1,210
|
|
9,768
|
|
—
|
|
1,210
|
|
9,768
|
|
10,978
|
|
792
|
|
10,186
|
|
1994
|
2011
|
35 years
|
Crown Pointe
|
Omaha
|
NE
|
—
|
|
1,316
|
|
11,950
|
|
—
|
|
1,316
|
|
11,950
|
|
13,266
|
|
2,976
|
|
10,290
|
|
1985
|
2005
|
35 years
|
Birch Heights
|
Derry
|
NH
|
—
|
|
1,413
|
|
30,267
|
|
—
|
|
1,413
|
|
30,267
|
|
31,680
|
|
253
|
|
31,427
|
|
2009
|
2013
|
35 years
|
Brandywine at Brick
|
Brick
|
NJ
|
—
|
|
1,490
|
|
16,747
|
|
—
|
|
1,490
|
|
16,747
|
|
18,237
|
|
3,147
|
|
15,090
|
|
1999
|
2011
|
35 years
|
Bear Canyon Estates
|
Albuquerque
|
NM
|
—
|
|
1,879
|
|
36,223
|
|
—
|
|
1,879
|
|
36,223
|
|
38,102
|
|
302
|
|
37,800
|
|
1997
|
2013
|
35 years
|
Elmcroft of Quintessence
|
Albuquerque
|
NM
|
—
|
|
1,150
|
|
26,527
|
|
343
|
|
1,165
|
|
26,855
|
|
28,020
|
|
2,077
|
|
25,943
|
|
1998
|
2011
|
35 years
|
Cottonbloom Assisted Living
|
Las Cruces
|
NM
|
—
|
|
153
|
|
897
|
|
370
|
|
153
|
|
1,267
|
|
1,420
|
|
207
|
|
1,213
|
|
1996
|
2009
|
35 years
|
Peachtree Village Retirement Community
|
Roswell
|
NM
|
—
|
|
161
|
|
2,161
|
|
666
|
|
161
|
|
2,827
|
|
2,988
|
|
389
|
|
2,599
|
|
1999
|
2010
|
35 years
|
The Amberleigh
|
Buffalo
|
NY
|
—
|
|
3,498
|
|
19,097
|
|
—
|
|
3,498
|
|
19,097
|
|
22,595
|
|
4,941
|
|
17,654
|
|
1988
|
2005
|
35 years
|
Castle Gardens
|
Vestal
|
NY
|
—
|
|
1,830
|
|
20,312
|
|
2,230
|
|
1,885
|
|
22,487
|
|
24,372
|
|
1,956
|
|
22,416
|
|
1994
|
2011
|
35 years
|
Emeritus at Lakeview
|
Columbus
|
OH
|
—
|
|
770
|
|
11,220
|
|
—
|
|
770
|
|
11,220
|
|
11,990
|
|
936
|
|
11,054
|
|
1998
|
2011
|
35 years
|
Elmcroft of Lima
|
Lima
|
OH
|
—
|
|
490
|
|
3,368
|
|
—
|
|
490
|
|
3,368
|
|
3,858
|
|
690
|
|
3,168
|
|
1998
|
2006
|
35 years
|
Elmcroft of Ontario
|
Mansfield
|
OH
|
—
|
|
523
|
|
7,968
|
|
—
|
|
523
|
|
7,968
|
|
8,491
|
|
1,632
|
|
6,859
|
|
1998
|
2006
|
35 years
|
Emeritus at Camelot Place
|
Medina
|
OH
|
—
|
|
340
|
|
21,566
|
|
—
|
|
340
|
|
21,566
|
|
21,906
|
|
1,698
|
|
20,208
|
|
1995
|
2011
|
35 years
|
Emeritus at Medina
|
Medina
|
OH
|
—
|
|
1,110
|
|
24,700
|
|
—
|
|
1,110
|
|
24,700
|
|
25,810
|
|
1,918
|
|
23,892
|
|
2000
|
2011
|
35 years
|
Elmcroft of Medina
|
Medina
|
OH
|
—
|
|
661
|
|
9,788
|
|
—
|
|
661
|
|
9,788
|
|
10,449
|
|
2,004
|
|
8,445
|
|
1999
|
2006
|
35 years
|
Elmcroft of Washington Township
|
Miamisburg
|
OH
|
—
|
|
1,235
|
|
12,611
|
|
—
|
|
1,235
|
|
12,611
|
|
13,846
|
|
2,582
|
|
11,264
|
|
1998
|
2006
|
35 years
|
Emeritus at Hillenvale
|
Mount Vernon
|
OH
|
—
|
|
1,100
|
|
12,493
|
|
—
|
|
1,100
|
|
12,493
|
|
13,593
|
|
1,031
|
|
12,562
|
|
2001
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Elmcroft of Sagamore Hills
|
Northfield
|
OH
|
—
|
|
980
|
|
12,604
|
|
—
|
|
980
|
|
12,604
|
|
13,584
|
|
2,581
|
|
11,003
|
|
2000
|
2006
|
35 years
|
Elmcroft of Lorain
|
Vermilion
|
OH
|
—
|
|
500
|
|
15,461
|
|
434
|
|
557
|
|
15,838
|
|
16,395
|
|
1,330
|
|
15,065
|
|
2000
|
2011
|
35 years
|
Elmcroft of Xenia
|
Xenia
|
OH
|
—
|
|
653
|
|
2,801
|
|
—
|
|
653
|
|
2,801
|
|
3,454
|
|
574
|
|
2,880
|
|
1999
|
2006
|
35 years
|
Emeritus at North Hills
|
Zanesville
|
OH
|
—
|
|
1,560
|
|
11,067
|
|
—
|
|
1,560
|
|
11,067
|
|
12,627
|
|
944
|
|
11,683
|
|
1996
|
2011
|
35 years
|
Arbor House of Mustang
|
Mustang
|
OK
|
—
|
|
372
|
|
3,587
|
|
—
|
|
372
|
|
3,587
|
|
3,959
|
|
120
|
|
3,839
|
|
1999
|
2012
|
35 years
|
Arbor House of Norman
|
Norman
|
OK
|
—
|
|
444
|
|
7,525
|
|
—
|
|
444
|
|
7,525
|
|
7,969
|
|
250
|
|
7,719
|
|
2000
|
2012
|
35 years
|
Arbor House Reminisce Center
|
Norman
|
OK
|
—
|
|
438
|
|
3,028
|
|
—
|
|
438
|
|
3,028
|
|
3,466
|
|
102
|
|
3,364
|
|
2004
|
2012
|
35 years
|
Arbor House of Midwest City
|
Oklahoma City
|
OK
|
—
|
|
544
|
|
9,133
|
|
—
|
|
544
|
|
9,133
|
|
9,677
|
|
304
|
|
9,373
|
|
2004
|
2012
|
35 years
|
Elmcroft of Quail Springs
|
Oklahoma City
|
OK
|
—
|
|
500
|
|
16,632
|
|
290
|
|
500
|
|
16,922
|
|
17,422
|
|
1,396
|
|
16,026
|
|
1999
|
2011
|
35 years
|
Mansion at Waterford
|
Oklahoma City
|
OK
|
—
|
|
2,077
|
|
14,184
|
|
—
|
|
2,077
|
|
14,184
|
|
16,261
|
|
698
|
|
15,563
|
|
1999
|
2012
|
35 years
|
Edgewood Downs
|
Beaverton
|
OR
|
—
|
|
2,356
|
|
15,476
|
|
—
|
|
2,356
|
|
15,476
|
|
17,832
|
|
131
|
|
17,701
|
|
1977
|
2013
|
35 years
|
Avamere at Hillsboro
|
Hillsboro
|
OR
|
—
|
|
4,400
|
|
8,353
|
|
301
|
|
4,400
|
|
8,654
|
|
13,054
|
|
791
|
|
12,263
|
|
2000
|
2011
|
35 years
|
The Springs at Tanasbourne
|
Hillsboro
|
OR
|
35,992
|
|
4,689
|
|
55,035
|
|
—
|
|
4,689
|
|
55,035
|
|
59,724
|
|
1,264
|
|
58,460
|
|
2009
|
2013
|
35 years
|
Avamere court at Keizer
|
Keizer
|
OR
|
—
|
|
1,260
|
|
30,183
|
|
(6
|
)
|
1,260
|
|
30,177
|
|
31,437
|
|
2,490
|
|
28,947
|
|
1970
|
2011
|
35 years
|
Keizer River ALZ Facility
|
Keizer
|
OR
|
—
|
|
—
|
|
—
|
|
970
|
|
800
|
|
170
|
|
970
|
|
—
|
|
970
|
|
2012
|
2012
|
35 years
|
The Stafford
|
Lake Oswego
|
OR
|
—
|
|
1,800
|
|
16,122
|
|
—
|
|
1,800
|
|
16,122
|
|
17,922
|
|
1,376
|
|
16,546
|
|
2008
|
2011
|
35 years
|
The Pearl at Kruse Way
|
Lake Oswego
|
OR
|
—
|
|
2,000
|
|
12,880
|
|
—
|
|
2,000
|
|
12,880
|
|
14,880
|
|
1,071
|
|
13,809
|
|
2005
|
2011
|
35 years
|
Avamere at Three Fountains
|
Medford
|
OR
|
—
|
|
2,340
|
|
33,187
|
|
—
|
|
2,340
|
|
33,187
|
|
35,527
|
|
2,705
|
|
32,822
|
|
1974
|
2011
|
35 years
|
The Springs at Clackamas Woods (ILF)
|
Milwaukie
|
OR
|
10,896
|
|
1,264
|
|
22,429
|
|
—
|
|
1,264
|
|
22,429
|
|
23,693
|
|
894
|
|
22,799
|
|
1999
|
2012
|
35 years
|
Clackamas Woods Assisted Living
|
Milwaukie
|
OR
|
5,829
|
|
681
|
|
12,077
|
|
—
|
|
681
|
|
12,077
|
|
12,758
|
|
481
|
|
12,277
|
|
1999
|
2012
|
35 years
|
Avamere at Newberg
|
Newberg
|
OR
|
—
|
|
1,320
|
|
4,664
|
|
241
|
|
1,320
|
|
4,905
|
|
6,225
|
|
467
|
|
5,758
|
|
1999
|
2011
|
35 years
|
Avamere Living at Berry Park
|
Oregon City
|
OR
|
—
|
|
1,910
|
|
4,249
|
|
609
|
|
1,910
|
|
4,858
|
|
6,768
|
|
481
|
|
6,287
|
|
1972
|
2011
|
35 years
|
Avamere at Bethany
|
Portland
|
OR
|
—
|
|
3,150
|
|
16,740
|
|
—
|
|
3,150
|
|
16,740
|
|
19,890
|
|
1,410
|
|
18,480
|
|
2002
|
2011
|
35 years
|
Avamere at Sandy
|
Sandy
|
OR
|
—
|
|
1,000
|
|
7,309
|
|
98
|
|
1,000
|
|
7,407
|
|
8,407
|
|
665
|
|
7,742
|
|
1999
|
2011
|
35 years
|
Suzanne Elise ALF
|
Seaside
|
OR
|
—
|
|
1,940
|
|
4,027
|
|
—
|
|
1,940
|
|
4,027
|
|
5,967
|
|
466
|
|
5,501
|
|
1998
|
2011
|
35 years
|
Avamere at Sherwood
|
Sherwood
|
OR
|
—
|
|
1,010
|
|
7,051
|
|
100
|
|
1,010
|
|
7,151
|
|
8,161
|
|
647
|
|
7,514
|
|
2000
|
2011
|
35 years
|
Chateau Gardens
|
Springfield
|
OR
|
—
|
|
1,550
|
|
4,197
|
|
—
|
|
1,550
|
|
4,197
|
|
5,747
|
|
345
|
|
5,402
|
|
1991
|
2011
|
35 years
|
Avamere at St Helens
|
St. Helens
|
OR
|
—
|
|
1,410
|
|
10,496
|
|
103
|
|
1,410
|
|
10,599
|
|
12,009
|
|
897
|
|
11,112
|
|
2000
|
2011
|
35 years
|
Elmcroft of Allison Park
|
Allison Park
|
PA
|
—
|
|
1,171
|
|
5,686
|
|
—
|
|
1,171
|
|
5,686
|
|
6,857
|
|
1,164
|
|
5,693
|
|
1986
|
2006
|
35 years
|
Elmcroft of Chippewa
|
Beaver Falls
|
PA
|
—
|
|
1,394
|
|
8,586
|
|
—
|
|
1,394
|
|
8,586
|
|
9,980
|
|
1,758
|
|
8,222
|
|
1998
|
2006
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Elmcroft of Berwick
|
Berwick
|
PA
|
—
|
|
111
|
|
6,741
|
|
—
|
|
111
|
|
6,741
|
|
6,852
|
|
1,380
|
|
5,472
|
|
1998
|
2006
|
35 years
|
Outlook Pointe at Lakemont
|
Bridgeville
|
PA
|
—
|
|
1,660
|
|
12,624
|
|
—
|
|
1,660
|
|
12,624
|
|
14,284
|
|
1,109
|
|
13,175
|
|
1999
|
2011
|
35 years
|
Elmcroft of Dillsburg
|
Dillsburg
|
PA
|
—
|
|
432
|
|
7,797
|
|
—
|
|
432
|
|
7,797
|
|
8,229
|
|
1,597
|
|
6,632
|
|
1998
|
2006
|
35 years
|
Elmcroft of Altoona
|
Hollidaysburg
|
PA
|
—
|
|
331
|
|
4,729
|
|
—
|
|
331
|
|
4,729
|
|
5,060
|
|
968
|
|
4,092
|
|
1997
|
2006
|
35 years
|
Elmcroft of Lebanon
|
Lebanon
|
PA
|
—
|
|
240
|
|
7,336
|
|
—
|
|
240
|
|
7,336
|
|
7,576
|
|
1,502
|
|
6,074
|
|
1999
|
2006
|
35 years
|
Elmcroft of Lewisburg
|
Lewisburg
|
PA
|
—
|
|
232
|
|
5,666
|
|
—
|
|
232
|
|
5,666
|
|
5,898
|
|
1,160
|
|
4,738
|
|
1999
|
2006
|
35 years
|
Lehigh Commons
|
Macungie
|
PA
|
—
|
|
420
|
|
4,406
|
|
450
|
|
420
|
|
4,856
|
|
5,276
|
|
1,721
|
|
3,555
|
|
1997
|
2004
|
30 years
|
Elmcroft of Loyalsock
|
Montoursville
|
PA
|
—
|
|
413
|
|
3,412
|
|
—
|
|
413
|
|
3,412
|
|
3,825
|
|
699
|
|
3,126
|
|
1999
|
2006
|
35 years
|
Highgate at Paoli Pointe
|
Paoli
|
PA
|
—
|
|
1,151
|
|
9,079
|
|
—
|
|
1,151
|
|
9,079
|
|
10,230
|
|
3,166
|
|
7,064
|
|
1997
|
2004
|
30 years
|
Sanatoga Court
|
Pottstown
|
PA
|
—
|
|
360
|
|
3,233
|
|
—
|
|
360
|
|
3,233
|
|
3,593
|
|
1,199
|
|
2,394
|
|
1997
|
2004
|
30 years
|
Berkshire Commons
|
Reading
|
PA
|
—
|
|
470
|
|
4,301
|
|
—
|
|
470
|
|
4,301
|
|
4,771
|
|
1,592
|
|
3,179
|
|
1997
|
2004
|
30 years
|
Mifflin Court
|
Reading
|
PA
|
—
|
|
689
|
|
4,265
|
|
351
|
|
689
|
|
4,616
|
|
5,305
|
|
1,408
|
|
3,897
|
|
1997
|
2004
|
35 years
|
Elmcroft of Reading
|
Reading
|
PA
|
—
|
|
638
|
|
4,942
|
|
—
|
|
638
|
|
4,942
|
|
5,580
|
|
1,012
|
|
4,568
|
|
1998
|
2006
|
35 years
|
Elmcroft of Reedsville
|
Reedsville
|
PA
|
—
|
|
189
|
|
5,170
|
|
—
|
|
189
|
|
5,170
|
|
5,359
|
|
1,059
|
|
4,300
|
|
1998
|
2006
|
35 years
|
Elmcroft of Saxonburg
|
Saxonburg
|
PA
|
—
|
|
770
|
|
5,949
|
|
—
|
|
770
|
|
5,949
|
|
6,719
|
|
1,218
|
|
5,501
|
|
1994
|
2006
|
35 years
|
Elmcroft of Shippensburg
|
Shippensburg
|
PA
|
—
|
|
203
|
|
7,634
|
|
—
|
|
203
|
|
7,634
|
|
7,837
|
|
1,563
|
|
6,274
|
|
1999
|
2006
|
35 years
|
Elmcroft of State College
|
State College
|
PA
|
—
|
|
320
|
|
7,407
|
|
—
|
|
320
|
|
7,407
|
|
7,727
|
|
1,517
|
|
6,210
|
|
1997
|
2006
|
35 years
|
Outlook Pointe at York
|
York
|
PA
|
—
|
|
1,260
|
|
6,923
|
|
—
|
|
1,260
|
|
6,923
|
|
8,183
|
|
607
|
|
7,576
|
|
1999
|
2011
|
35 years
|
Forest Pines
|
Columbia
|
SC
|
—
|
|
1,058
|
|
27,471
|
|
—
|
|
1,058
|
|
27,471
|
|
28,529
|
|
229
|
|
28,300
|
|
1997
|
2013
|
35 years
|
Elmcroft of Florence SC
|
Florence
|
SC
|
—
|
|
108
|
|
7,620
|
|
—
|
|
108
|
|
7,620
|
|
7,728
|
|
1,560
|
|
6,168
|
|
1998
|
2006
|
35 years
|
Primrose Aberdeen
|
Aberdeen
|
SD
|
—
|
|
850
|
|
659
|
|
—
|
|
850
|
|
659
|
|
1,509
|
|
128
|
|
1,381
|
|
1991
|
2011
|
35 years
|
Primrose Place
|
Aberdeen
|
SD
|
—
|
|
310
|
|
3,242
|
|
—
|
|
310
|
|
3,242
|
|
3,552
|
|
275
|
|
3,277
|
|
2000
|
2011
|
35 years
|
Primrose Rapid City
|
Rapid City
|
SD
|
—
|
|
860
|
|
8,722
|
|
—
|
|
860
|
|
8,722
|
|
9,582
|
|
734
|
|
8,848
|
|
1997
|
2011
|
35 years
|
Primrose Sioux Falls
|
Sioux Falls
|
SD
|
—
|
|
2,180
|
|
12,936
|
|
—
|
|
2,180
|
|
12,936
|
|
15,116
|
|
1,103
|
|
14,013
|
|
2002
|
2011
|
35 years
|
Outlook Pointe of Bristol
|
Bristol
|
TN
|
—
|
|
470
|
|
16,006
|
|
—
|
|
470
|
|
16,006
|
|
16,476
|
|
1,263
|
|
15,213
|
|
1999
|
2011
|
35 years
|
Elmcroft of Hamilton Place
|
Chattanooga
|
TN
|
—
|
|
87
|
|
4,248
|
|
—
|
|
87
|
|
4,248
|
|
4,335
|
|
870
|
|
3,465
|
|
1998
|
2006
|
35 years
|
Elmcroft of Shallowford
|
Chattanooga
|
TN
|
—
|
|
580
|
|
7,568
|
|
413
|
|
582
|
|
7,979
|
|
8,561
|
|
755
|
|
7,806
|
|
1999
|
2011
|
35 years
|
Regency House
|
Hixson
|
TN
|
—
|
|
140
|
|
6,611
|
|
—
|
|
140
|
|
6,611
|
|
6,751
|
|
545
|
|
6,206
|
|
2000
|
2011
|
35 years
|
Trenton Health Care Center
|
Humboldt
|
TN
|
—
|
|
460
|
|
6,058
|
|
—
|
|
460
|
|
6,058
|
|
6,518
|
|
570
|
|
5,948
|
|
1974
|
2011
|
35 years
|
Outlook Pointe at Johnson City
|
Johnson City
|
TN
|
—
|
|
590
|
|
10,043
|
|
—
|
|
590
|
|
10,043
|
|
10,633
|
|
818
|
|
9,815
|
|
1999
|
2011
|
35 years
|
Elmcroft of Kingsport
|
Kingsport
|
TN
|
—
|
|
22
|
|
7,815
|
|
—
|
|
22
|
|
7,815
|
|
7,837
|
|
1,600
|
|
6,237
|
|
2000
|
2006
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Elmcroft of Cottonwood
|
Temple
|
TX
|
—
|
|
630
|
|
17,515
|
|
385
|
|
630
|
|
17,900
|
|
18,530
|
|
1,435
|
|
17,095
|
|
1997
|
2011
|
35 years
|
Elmcroft of Mainland
|
Texas City
|
TX
|
—
|
|
520
|
|
14,849
|
|
359
|
|
520
|
|
15,208
|
|
15,728
|
|
1,248
|
|
14,480
|
|
1996
|
2011
|
35 years
|
Elmcroft of Victoria
|
Victoria
|
TX
|
—
|
|
440
|
|
13,040
|
|
401
|
|
440
|
|
13,441
|
|
13,881
|
|
1,095
|
|
12,786
|
|
1997
|
2011
|
35 years
|
Arbor House of Weatherford
|
Weatherford
|
TX
|
—
|
|
233
|
|
3,347
|
|
—
|
|
233
|
|
3,347
|
|
3,580
|
|
111
|
|
3,469
|
|
1994
|
2012
|
35 years
|
Elmcroft of Wharton
|
Wharton
|
TX
|
—
|
|
320
|
|
13,799
|
|
666
|
|
320
|
|
14,465
|
|
14,785
|
|
1,171
|
|
13,614
|
|
1996
|
2011
|
35 years
|
Elmcroft of Chesterfield
|
Richmond
|
VA
|
—
|
|
829
|
|
6,534
|
|
—
|
|
829
|
|
6,534
|
|
7,363
|
|
1,338
|
|
6,025
|
|
1999
|
2006
|
35 years
|
Pheasant Ridge
|
Roanoke
|
VA
|
—
|
|
1,813
|
|
9,027
|
|
—
|
|
1,813
|
|
9,027
|
|
10,840
|
|
444
|
|
10,396
|
|
1999
|
2012
|
35 years
|
Emeritus at Ridgewood Gardens
|
Salem
|
VA
|
—
|
|
1,900
|
|
16,219
|
|
—
|
|
1,900
|
|
16,219
|
|
18,119
|
|
4,733
|
|
13,386
|
|
1998
|
2011
|
35 years
|
Cooks Hill Manor
|
Centralia
|
WA
|
—
|
|
520
|
|
6,144
|
|
—
|
|
520
|
|
6,144
|
|
6,664
|
|
554
|
|
6,110
|
|
1993
|
2011
|
35 years
|
The Sequoia
|
Olympia
|
WA
|
—
|
|
1,490
|
|
13,724
|
|
—
|
|
1,490
|
|
13,724
|
|
15,214
|
|
1,154
|
|
14,060
|
|
1995
|
2011
|
35 years
|
Willow Gardens
|
Puyallup
|
WA
|
—
|
|
1,959
|
|
35,492
|
|
—
|
|
1,959
|
|
35,492
|
|
37,451
|
|
297
|
|
37,154
|
|
1996
|
2013
|
35 years
|
Birchview
|
Sedro-Woolley
|
WA
|
—
|
|
210
|
|
14,145
|
|
—
|
|
210
|
|
14,145
|
|
14,355
|
|
1,087
|
|
13,268
|
|
1996
|
2011
|
35 years
|
Discovery Memory care
|
Sequim
|
WA
|
—
|
|
320
|
|
10,544
|
|
—
|
|
320
|
|
10,544
|
|
10,864
|
|
852
|
|
10,012
|
|
1961
|
2011
|
35 years
|
The Academy Retirement Comm
|
Spokane
|
WA
|
—
|
|
650
|
|
3,741
|
|
—
|
|
650
|
|
3,741
|
|
4,391
|
|
408
|
|
3,983
|
|
1959
|
2011
|
35 years
|
The Village Retirement & Assisted Living
|
Tacoma
|
WA
|
—
|
|
2,200
|
|
5,938
|
|
—
|
|
2,200
|
|
5,938
|
|
8,138
|
|
663
|
|
7,475
|
|
1976
|
2011
|
35 years
|
Matthews of Appleton I
|
Appleton
|
WI
|
—
|
|
130
|
|
1,834
|
|
(41
|
)
|
130
|
|
1,793
|
|
1,923
|
|
160
|
|
1,763
|
|
1996
|
2011
|
35 years
|
Matthews of Appleton II
|
Appleton
|
WI
|
—
|
|
140
|
|
2,016
|
|
(49
|
)
|
140
|
|
1,967
|
|
2,107
|
|
175
|
|
1,932
|
|
1997
|
2011
|
35 years
|
Hunters Ridge
|
Beaver Dam
|
WI
|
—
|
|
260
|
|
2,380
|
|
—
|
|
260
|
|
2,380
|
|
2,640
|
|
206
|
|
2,434
|
|
1998
|
2011
|
35 years
|
Harbor House Beloit
|
Beloit
|
WI
|
—
|
|
150
|
|
4,356
|
|
—
|
|
150
|
|
4,356
|
|
4,506
|
|
345
|
|
4,161
|
|
1990
|
2011
|
35 years
|
Harbor House Clinton
|
Clinton
|
WI
|
—
|
|
290
|
|
4,390
|
|
—
|
|
290
|
|
4,390
|
|
4,680
|
|
348
|
|
4,332
|
|
1991
|
2011
|
35 years
|
Creekside
|
Cudahy
|
WI
|
—
|
|
760
|
|
1,693
|
|
—
|
|
760
|
|
1,693
|
|
2,453
|
|
160
|
|
2,293
|
|
2001
|
2011
|
35 years
|
Harmony of Denmark
|
Denmark
|
WI
|
1,137
|
|
220
|
|
2,228
|
|
—
|
|
220
|
|
2,228
|
|
2,448
|
|
196
|
|
2,252
|
|
1995
|
2011
|
35 years
|
Harbor House Eau Claire
|
Eau Claire
|
WI
|
—
|
|
210
|
|
6,259
|
|
—
|
|
210
|
|
6,259
|
|
6,469
|
|
484
|
|
5,985
|
|
1996
|
2011
|
35 years
|
Chapel Valley
|
Fitchburg
|
WI
|
—
|
|
450
|
|
2,372
|
|
—
|
|
450
|
|
2,372
|
|
2,822
|
|
208
|
|
2,614
|
|
1998
|
2011
|
35 years
|
Matthews of Milwaukee II
|
Fox Point
|
WI
|
—
|
|
1,810
|
|
943
|
|
37
|
|
1,820
|
|
970
|
|
2,790
|
|
111
|
|
2,679
|
|
1999
|
2011
|
35 years
|
Harmony of Brenwood Park
|
Franklin
|
WI
|
5,939
|
|
1,870
|
|
13,804
|
|
—
|
|
1,870
|
|
13,804
|
|
15,674
|
|
1,070
|
|
14,604
|
|
2003
|
2011
|
35 years
|
Harmony of Green Bay
|
Green Bay
|
WI
|
2,961
|
|
640
|
|
5,008
|
|
—
|
|
640
|
|
5,008
|
|
5,648
|
|
420
|
|
5,228
|
|
1990
|
2011
|
35 years
|
Layton Terrace
|
Greenfield
|
WI
|
7,523
|
|
3,490
|
|
39,201
|
|
—
|
|
3,490
|
|
39,201
|
|
42,691
|
|
3,161
|
|
39,530
|
|
1999
|
2011
|
35 years
|
Matthews of Hartland
|
Hartland
|
WI
|
—
|
|
640
|
|
1,663
|
|
43
|
|
652
|
|
1,694
|
|
2,346
|
|
166
|
|
2,180
|
|
1985
|
2011
|
35 years
|
Matthews of Horicon
|
Horicon
|
WI
|
—
|
|
340
|
|
3,327
|
|
(95
|
)
|
345
|
|
3,227
|
|
3,572
|
|
303
|
|
3,269
|
|
2002
|
2011
|
35 years
|
Jefferson
|
Jefferson
|
WI
|
—
|
|
330
|
|
2,384
|
|
—
|
|
330
|
|
2,384
|
|
2,714
|
|
207
|
|
2,507
|
|
1997
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Harmony of Kenosha
|
Kenosha
|
WI
|
3,853
|
|
1,180
|
|
8,717
|
|
—
|
|
1,180
|
|
8,717
|
|
9,897
|
|
689
|
|
9,208
|
|
1999
|
2011
|
35 years
|
Harbor House Kenosha
|
Kenosha
|
WI
|
—
|
|
710
|
|
3,254
|
|
—
|
|
710
|
|
3,254
|
|
3,964
|
|
269
|
|
3,695
|
|
1996
|
2011
|
35 years
|
Harmony of Madison
|
Madison
|
WI
|
3,989
|
|
650
|
|
4,279
|
|
—
|
|
650
|
|
4,279
|
|
4,929
|
|
384
|
|
4,545
|
|
1998
|
2011
|
35 years
|
Harmony of Manitowoc
|
Manitowoc
|
WI
|
4,681
|
|
450
|
|
10,101
|
|
—
|
|
450
|
|
10,101
|
|
10,551
|
|
797
|
|
9,754
|
|
1997
|
2011
|
35 years
|
Harbor House Manitowoc
|
Manitowoc
|
WI
|
—
|
|
140
|
|
1,520
|
|
—
|
|
140
|
|
1,520
|
|
1,660
|
|
127
|
|
1,533
|
|
1997
|
2011
|
35 years
|
Harmony of McFarland
|
McFarland
|
WI
|
3,576
|
|
640
|
|
4,647
|
|
—
|
|
640
|
|
4,647
|
|
5,287
|
|
401
|
|
4,886
|
|
1998
|
2011
|
35 years
|
Adare II
|
Menasha
|
WI
|
—
|
|
110
|
|
537
|
|
20
|
|
110
|
|
557
|
|
667
|
|
59
|
|
608
|
|
1994
|
2011
|
35 years
|
Adare IV
|
Menasha
|
WI
|
—
|
|
110
|
|
537
|
|
5
|
|
110
|
|
542
|
|
652
|
|
57
|
|
595
|
|
1994
|
2011
|
35 years
|
Adare III
|
Menasha
|
WI
|
—
|
|
90
|
|
557
|
|
5
|
|
90
|
|
562
|
|
652
|
|
61
|
|
591
|
|
1993
|
2011
|
35 years
|
Adare I
|
Menasha
|
WI
|
—
|
|
90
|
|
557
|
|
5
|
|
90
|
|
562
|
|
652
|
|
59
|
|
593
|
|
1993
|
2011
|
35 years
|
Riverview Village
|
Menomonee Falls
|
WI
|
5,668
|
|
2,170
|
|
11,758
|
|
—
|
|
2,170
|
|
11,758
|
|
13,928
|
|
922
|
|
13,006
|
|
2003
|
2011
|
35 years
|
The Arboretum
|
Menomonee Falls
|
WI
|
5,185
|
|
5,640
|
|
49,083
|
|
—
|
|
5,640
|
|
49,083
|
|
54,723
|
|
4,065
|
|
50,658
|
|
1989
|
2011
|
35 years
|
Matthews of Milwaukee I
|
Milwaukee
|
WI
|
—
|
|
1,800
|
|
935
|
|
119
|
|
1,800
|
|
1,054
|
|
2,854
|
|
108
|
|
2,746
|
|
1999
|
2011
|
35 years
|
Laurel Oaks
|
Milwaukee
|
WI
|
—
|
|
2,390
|
|
43,587
|
|
—
|
|
2,390
|
|
43,587
|
|
45,977
|
|
3,444
|
|
42,533
|
|
1988
|
2011
|
35 years
|
Hart Park Square
|
Milwaukee
|
WI
|
6,600
|
|
1,900
|
|
21,628
|
|
—
|
|
1,900
|
|
21,628
|
|
23,528
|
|
1,756
|
|
21,772
|
|
2005
|
2011
|
35 years
|
Harbor House Monroe
|
Monroe
|
WI
|
—
|
|
490
|
|
4,964
|
|
—
|
|
490
|
|
4,964
|
|
5,454
|
|
400
|
|
5,054
|
|
1990
|
2011
|
35 years
|
Matthews of Neenah I
|
Neenah
|
WI
|
—
|
|
710
|
|
1,157
|
|
62
|
|
713
|
|
1,216
|
|
1,929
|
|
127
|
|
1,802
|
|
2006
|
2011
|
35 years
|
Matthews of Neenah II
|
Neenah
|
WI
|
—
|
|
720
|
|
2,339
|
|
(50
|
)
|
720
|
|
2,289
|
|
3,009
|
|
209
|
|
2,800
|
|
2007
|
2011
|
35 years
|
Matthews of Irish Road
|
Neenah
|
WI
|
—
|
|
320
|
|
1,036
|
|
87
|
|
320
|
|
1,123
|
|
1,443
|
|
117
|
|
1,326
|
|
2001
|
2011
|
35 years
|
Matthews of Oak Creek
|
Oak Creek
|
WI
|
—
|
|
800
|
|
2,167
|
|
(2
|
)
|
812
|
|
2,153
|
|
2,965
|
|
191
|
|
2,774
|
|
1997
|
2011
|
35 years
|
Wilkinson Woods of Oconomowoc
|
Oconomowoc
|
WI
|
—
|
|
1,100
|
|
12,436
|
|
—
|
|
1,100
|
|
12,436
|
|
13,536
|
|
996
|
|
12,540
|
|
1992
|
2011
|
35 years
|
Harbor House Oshkosh
|
Oshkosh
|
WI
|
—
|
|
190
|
|
949
|
|
—
|
|
190
|
|
949
|
|
1,139
|
|
104
|
|
1,035
|
|
1993
|
2011
|
35 years
|
Harmony of Racine
|
Racine
|
WI
|
9,377
|
|
590
|
|
11,726
|
|
—
|
|
590
|
|
11,726
|
|
12,316
|
|
908
|
|
11,408
|
|
1998
|
2011
|
35 years
|
Harmony of Commons of Racine
|
Racine
|
WI
|
—
|
|
630
|
|
11,245
|
|
—
|
|
630
|
|
11,245
|
|
11,875
|
|
879
|
|
10,996
|
|
2003
|
2011
|
35 years
|
Harmony of Sheboygan
|
Sheboygan
|
WI
|
8,677
|
|
810
|
|
17,908
|
|
—
|
|
810
|
|
17,908
|
|
18,718
|
|
1,394
|
|
17,324
|
|
1996
|
2011
|
35 years
|
Harbor House Sheboygan
|
Sheboygan
|
WI
|
—
|
|
1,060
|
|
6,208
|
|
—
|
|
1,060
|
|
6,208
|
|
7,268
|
|
488
|
|
6,780
|
|
1995
|
2011
|
35 years
|
Matthews of St. Francis I
|
St. Francis
|
WI
|
—
|
|
1,370
|
|
1,428
|
|
(113
|
)
|
1,389
|
|
1,296
|
|
2,685
|
|
135
|
|
2,550
|
|
2000
|
2011
|
35 years
|
Matthews of St. Francis II
|
St. Francis
|
WI
|
—
|
|
1,370
|
|
1,666
|
|
15
|
|
1,377
|
|
1,674
|
|
3,051
|
|
153
|
|
2,898
|
|
2000
|
2011
|
35 years
|
Howard Village of St. Francis
|
St. Francis
|
WI
|
5,280
|
|
2,320
|
|
17,232
|
|
—
|
|
2,320
|
|
17,232
|
|
19,552
|
|
1,431
|
|
18,121
|
|
2001
|
2011
|
35 years
|
Harmony of Stevens Point
|
Stevens Point
|
WI
|
7,919
|
|
790
|
|
10,081
|
|
—
|
|
790
|
|
10,081
|
|
10,871
|
|
809
|
|
10,062
|
|
2002
|
2011
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
|||||||||
Harmony Commons of Stevens Point
|
Stevens Point
|
WI
|
—
|
|
760
|
|
2,242
|
|
—
|
|
760
|
|
2,242
|
|
3,002
|
|
239
|
|
2,763
|
|
2005
|
2011
|
35 years
|
Harmony of Stoughton
|
Stoughton
|
WI
|
1,573
|
|
490
|
|
9,298
|
|
—
|
|
490
|
|
9,298
|
|
9,788
|
|
734
|
|
9,054
|
|
1997
|
2011
|
35 years
|
Harbor House Stoughton
|
Stoughton
|
WI
|
—
|
|
450
|
|
3,191
|
|
—
|
|
450
|
|
3,191
|
|
3,641
|
|
278
|
|
3,363
|
|
1992
|
2011
|
35 years
|
Harmony of Two Rivers
|
Two Rivers
|
WI
|
2,526
|
|
330
|
|
3,538
|
|
—
|
|
330
|
|
3,538
|
|
3,868
|
|
301
|
|
3,567
|
|
1998
|
2011
|
35 years
|
Matthews of Pewaukee
|
Waukesha
|
WI
|
—
|
|
1,180
|
|
4,124
|
|
204
|
|
1,197
|
|
4,311
|
|
5,508
|
|
388
|
|
5,120
|
|
2001
|
2011
|
35 years
|
Oak Hill Terrace
|
Waukesha
|
WI
|
5,105
|
|
2,040
|
|
40,298
|
|
—
|
|
2,040
|
|
40,298
|
|
42,338
|
|
3,258
|
|
39,080
|
|
1985
|
2011
|
35 years
|
Harmony of Terrace Court
|
Wausau
|
WI
|
7,047
|
|
430
|
|
5,037
|
|
—
|
|
430
|
|
5,037
|
|
5,467
|
|
417
|
|
5,050
|
|
1996
|
2011
|
35 years
|
Harmony of Terrace Commons
|
Wausau
|
WI
|
—
|
|
740
|
|
6,556
|
|
—
|
|
740
|
|
6,556
|
|
7,296
|
|
546
|
|
6,750
|
|
2000
|
2011
|
35 years
|
Harbor House Rib Mountain
|
Wausau
|
WI
|
—
|
|
350
|
|
3,413
|
|
—
|
|
350
|
|
3,413
|
|
3,763
|
|
278
|
|
3,485
|
|
1997
|
2011
|
35 years
|
Library Square
|
West Allis
|
WI
|
5,150
|
|
1,160
|
|
23,714
|
|
—
|
|
1,160
|
|
23,714
|
|
24,874
|
|
1,920
|
|
22,954
|
|
1996
|
2011
|
35 years
|
Harmony of Wisconsin Rapids
|
Wisconsin Rapids
|
WI
|
1,053
|
|
520
|
|
4,349
|
|
—
|
|
520
|
|
4,349
|
|
4,869
|
|
381
|
|
4,488
|
|
2000
|
2011
|
35 years
|
Matthews of Wrightstown
|
Wrightstown
|
WI
|
—
|
|
140
|
|
376
|
|
12
|
|
140
|
|
388
|
|
528
|
|
60
|
|
468
|
|
1999
|
2011
|
35 years
|
Outlook Pointe at Teays Valley
|
Hurricane
|
WV
|
—
|
|
1,950
|
|
14,489
|
|
—
|
|
1,950
|
|
14,489
|
|
16,439
|
|
1,139
|
|
15,300
|
|
1999
|
2011
|
35 years
|
Elmcroft of Martinsburg
|
Martinsburg
|
WV
|
—
|
|
248
|
|
8,320
|
|
—
|
|
248
|
|
8,320
|
|
8,568
|
|
1,704
|
|
6,864
|
|
1999
|
2006
|
35 years
|
Garden Square Assisted Living of Casper
|
Casper
|
WY
|
—
|
|
355
|
|
3,197
|
|
—
|
|
355
|
|
3,197
|
|
3,552
|
|
214
|
|
3,338
|
|
1996
|
2011
|
35 years
|
Whispering Chase
|
Cheyenne
|
WY
|
—
|
|
1,800
|
|
20,354
|
|
—
|
|
1,800
|
|
20,354
|
|
22,154
|
|
171
|
|
21,983
|
|
2008
|
2013
|
35 years
|
TOTAL FOR OTHER SENIORS HOUSING COMMUNITIES
|
|
|
243,339
|
|
420,377
|
|
3,964,503
|
|
38,110
|
|
422,686
|
|
4,000,304
|
|
4,422,990
|
|
376,059
|
|
4,046,931
|
|
|
|
|
TOTAL FOR SENIORS HOUSING COMMUNITIES
|
|
|
1,716,019
|
|
1,282,138
|
|
12,064,861
|
|
270,406
|
|
1,290,536
|
|
12,326,869
|
|
13,617,405
|
|
1,647,287
|
|
11,970,118
|
|
|
|
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Papago Medical Park
|
Phoenix
|
AZ
|
—
|
|
—
|
|
12,172
|
|
220
|
|
—
|
|
12,392
|
|
12,392
|
|
1,154
|
|
11,238
|
|
1989
|
2011
|
35 years
|
|||||||||
Burbank Medical Plaza
|
Burbank
|
CA
|
12,812
|
|
1,241
|
|
23,322
|
|
135
|
|
1,241
|
|
23,457
|
|
24,698
|
|
2,434
|
|
22,264
|
|
2004
|
2011
|
35 years
|
|||||||||
Burbank Medical Plaza II
|
Burbank
|
CA
|
29,382
|
|
491
|
|
45,641
|
|
487
|
|
491
|
|
46,128
|
|
46,619
|
|
3,888
|
|
42,731
|
|
2008
|
2011
|
35 years
|
|||||||||
Eden Medical Plaza
|
Castro Valley
|
CA
|
—
|
|
258
|
|
2,455
|
|
95
|
|
258
|
|
2,550
|
|
2,808
|
|
427
|
|
2,381
|
|
1998
|
2011
|
25 years
|
|||||||||
PMB Chula Vista
|
Chula Vista
|
CA
|
15,622
|
|
2,964
|
|
19,393
|
|
169
|
|
2,964
|
|
19,562
|
|
22,526
|
|
1,995
|
|
20,531
|
|
2001
|
2011
|
35 years
|
|||||||||
NorthBay Corporate Headquarters
|
Fairfield
|
CA
|
—
|
|
—
|
|
19,187
|
|
—
|
|
—
|
|
19,187
|
|
19,187
|
|
612
|
|
18,575
|
|
2008
|
2012
|
35 years
|
|||||||||
Gateway Medical Plaza
|
Fairfield
|
CA
|
—
|
|
—
|
|
12,872
|
|
—
|
|
—
|
|
12,872
|
|
12,872
|
|
410
|
|
12,462
|
|
1986
|
2012
|
35 years
|
|||||||||
Solano NorthBay Health Plaza
|
Fairfield
|
CA
|
—
|
|
—
|
|
8,880
|
|
—
|
|
—
|
|
8,880
|
|
8,880
|
|
281
|
|
8,599
|
|
1990
|
2012
|
35 years
|
|||||||||
NorthBay Healthcare MOB
|
Fairfield
|
CA
|
—
|
|
—
|
|
8,507
|
|
—
|
|
—
|
|
8,507
|
|
8,507
|
|
—
|
|
8,507
|
|
CIP
|
2013
|
CIP
|
|||||||||
Verdugo Hills Professional Bldg I
|
Glendale
|
CA
|
—
|
|
6,683
|
|
9,589
|
|
14
|
|
6,683
|
|
9,603
|
|
16,286
|
|
1,146
|
|
15,140
|
|
1972
|
2012
|
23 years
|
|||||||||
Verdugo Hills Professional Bldg II
|
Glendale
|
CA
|
—
|
|
4,464
|
|
3,731
|
|
(10
|
)
|
4,464
|
|
3,721
|
|
8,185
|
|
623
|
|
7,562
|
|
1987
|
2012
|
19 years
|
|||||||||
St. Francis Lynwood Medical
|
Lynwood
|
CA
|
—
|
|
688
|
|
8,385
|
|
445
|
|
688
|
|
8,830
|
|
9,518
|
|
1,269
|
|
8,249
|
|
1993
|
2011
|
32 years
|
|||||||||
PMB Mission Hills
|
Mission Hills
|
CA
|
—
|
|
15,468
|
|
30,116
|
|
4,745
|
|
15,468
|
|
34,861
|
|
50,329
|
|
1,136
|
|
49,193
|
|
2012
|
2012
|
35 years
|
|||||||||
PDP Mission Viejo
|
Mission Viejo
|
CA
|
45,118
|
|
1,916
|
|
77,022
|
|
140
|
|
1,916
|
|
77,162
|
|
79,078
|
|
6,517
|
|
72,561
|
|
2007
|
2011
|
35 years
|
|||||||||
PDP Orange
|
Orange
|
CA
|
47,590
|
|
1,752
|
|
61,647
|
|
53
|
|
1,761
|
|
61,691
|
|
63,452
|
|
5,421
|
|
58,031
|
|
2008
|
2011
|
35 years
|
|||||||||
NHP/PMB Pasadena
|
Pasadena
|
CA
|
60,000
|
|
3,138
|
|
83,412
|
|
7,289
|
|
3,138
|
|
90,701
|
|
93,839
|
|
8,264
|
|
85,575
|
|
2009
|
2011
|
35 years
|
|||||||||
Western University of Health Sciences Medical Pavilion
|
Pomona
|
CA
|
—
|
|
91
|
|
31,523
|
|
—
|
|
91
|
|
31,523
|
|
31,614
|
|
2,518
|
|
29,096
|
|
2009
|
2011
|
35 years
|
|||||||||
Pomerado Outpatient Pavilion
|
Poway
|
CA
|
—
|
|
3,233
|
|
71,435
|
|
2,852
|
|
3,233
|
|
74,287
|
|
77,520
|
|
6,596
|
|
70,924
|
|
2007
|
2011
|
35 years
|
|||||||||
NHP SB 399-401 East Highland
|
San Bernardino
|
CA
|
—
|
|
789
|
|
11,133
|
|
291
|
|
789
|
|
11,424
|
|
12,213
|
|
1,652
|
|
10,561
|
|
1971
|
2011
|
27 years
|
|||||||||
NHP SB 399-401 East Highland
|
San Bernardino
|
CA
|
—
|
|
416
|
|
5,625
|
|
299
|
|
416
|
|
5,924
|
|
6,340
|
|
907
|
|
5,433
|
|
1988
|
2011
|
26 years
|
|||||||||
Sutter Medical Center
|
San Diego
|
CA
|
—
|
|
—
|
|
25,088
|
|
1,371
|
|
—
|
|
26,459
|
|
26,459
|
|
796
|
|
25,663
|
|
2012
|
2012
|
35 years
|
|||||||||
San Gabriel Valley Medical
|
San Gabriel
|
CA
|
9,091
|
|
914
|
|
5,510
|
|
160
|
|
914
|
|
5,670
|
|
6,584
|
|
816
|
|
5,768
|
|
2004
|
2011
|
35 years
|
|||||||||
Santa Clarita Valley Medical
|
Santa Clarita
|
CA
|
22,263
|
|
9,708
|
|
20,020
|
|
81
|
|
9,726
|
|
20,083
|
|
29,809
|
|
1,921
|
|
27,888
|
|
2005
|
2011
|
35 years
|
|||||||||
Kenneth E Watts Medical Plaza
|
Torrance
|
CA
|
—
|
|
262
|
|
6,945
|
|
535
|
|
276
|
|
7,466
|
|
7,742
|
|
1,084
|
|
6,658
|
|
1989
|
2011
|
23 years
|
|||||||||
Vaca Valley Health Plaza
|
Vacaville
|
CA
|
—
|
|
—
|
|
9,634
|
|
—
|
|
—
|
|
9,634
|
|
9,634
|
|
305
|
|
9,329
|
|
1988
|
2012
|
35 years
|
|||||||||
Potomac Medical Plaza
|
Aurora
|
CO
|
—
|
|
2,401
|
|
9,118
|
|
2,061
|
|
2,464
|
|
11,116
|
|
13,580
|
|
3,813
|
|
9,767
|
|
1986
|
2007
|
35 years
|
|||||||||
Briargate Medical Campus
|
Colorado Springs
|
CO
|
—
|
|
1,238
|
|
12,301
|
|
263
|
|
1,244
|
|
12,558
|
|
13,802
|
|
3,165
|
|
10,637
|
|
2002
|
2007
|
35 years
|
|||||||||
Printers Park Medical Plaza
|
Colorado Springs
|
CO
|
—
|
|
2,641
|
|
47,507
|
|
829
|
|
2,641
|
|
48,336
|
|
50,977
|
|
11,712
|
|
39,265
|
|
1999
|
2007
|
35 years
|
|||||||||
Green Valley Ranch MOB
|
Denver
|
CO
|
6,072
|
|
—
|
|
12,139
|
|
143
|
|
235
|
|
12,047
|
|
12,282
|
|
361
|
|
11,921
|
|
2007
|
2012
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Community Physicians Pavilion
|
Lafayette
|
CO
|
—
|
|
—
|
|
10,436
|
|
947
|
|
—
|
|
11,383
|
|
11,383
|
|
1,566
|
|
9,817
|
|
2004
|
2010
|
35 years
|
|||||||||
Exempla Good Samaritan Medical Center
|
Lafayette
|
CO
|
—
|
|
—
|
|
4,393
|
|
—
|
|
—
|
|
4,393
|
|
4,393
|
|
10
|
|
4,383
|
|
2013
|
2013
|
35 years
|
|||||||||
Avista Two Medical Plaza
|
Louisville
|
CO
|
—
|
|
—
|
|
17,330
|
|
1,335
|
|
—
|
|
18,665
|
|
18,665
|
|
3,340
|
|
15,325
|
|
2003
|
2009
|
35 years
|
|||||||||
The Sierra Medical Building
|
Parker
|
CO
|
491
|
|
1,444
|
|
14,059
|
|
2,641
|
|
1,444
|
|
16,700
|
|
18,144
|
|
3,305
|
|
14,839
|
|
2009
|
2009
|
35 years
|
|||||||||
Crown Point Healthcare Plaza
|
Parker
|
CO
|
—
|
|
852
|
|
5,210
|
|
—
|
|
852
|
|
5,210
|
|
6,062
|
|
95
|
|
5,967
|
|
2008
|
2013
|
35 years
|
|||||||||
Lutheran Medical Office Building II
|
Wheat Ridge
|
CO
|
—
|
|
—
|
|
2,655
|
|
691
|
|
—
|
|
3,346
|
|
3,346
|
|
586
|
|
2,760
|
|
1976
|
2010
|
35 years
|
|||||||||
Lutheran Medical Office Building IV
|
Wheat Ridge
|
CO
|
—
|
|
—
|
|
7,266
|
|
648
|
|
—
|
|
7,914
|
|
7,914
|
|
1,106
|
|
6,808
|
|
1991
|
2010
|
35 years
|
|||||||||
Lutheran Medical Office Building III
|
Wheat Ridge
|
CO
|
—
|
|
—
|
|
11,947
|
|
10
|
|
—
|
|
11,957
|
|
11,957
|
|
1,729
|
|
10,228
|
|
2004
|
2010
|
35 years
|
|||||||||
DePaul Professional Office Building
|
Washington
|
DC
|
—
|
|
—
|
|
6,424
|
|
1,359
|
|
—
|
|
7,783
|
|
7,783
|
|
1,733
|
|
6,050
|
|
1987
|
2010
|
35 years
|
|||||||||
Providence Medical Office Building
|
Washington
|
DC
|
—
|
|
—
|
|
2,473
|
|
521
|
|
—
|
|
2,994
|
|
2,994
|
|
710
|
|
2,284
|
|
1975
|
2010
|
35 years
|
|||||||||
RTS Arcadia
|
Arcadia
|
FL
|
—
|
|
345
|
|
2,884
|
|
—
|
|
345
|
|
2,884
|
|
3,229
|
|
296
|
|
2,933
|
|
1993
|
2011
|
30 years
|
|||||||||
RTS Cape Coral
|
Cape Coral
|
FL
|
—
|
|
368
|
|
5,448
|
|
—
|
|
368
|
|
5,448
|
|
5,816
|
|
473
|
|
5,343
|
|
1984
|
2011
|
34 years
|
|||||||||
RTS Englewood
|
Englewood
|
FL
|
—
|
|
1,071
|
|
3,516
|
|
—
|
|
1,071
|
|
3,516
|
|
4,587
|
|
327
|
|
4,260
|
|
1992
|
2011
|
35 years
|
|||||||||
RTS Ft. Myers
|
Fort Myers
|
FL
|
—
|
|
1,153
|
|
4,127
|
|
—
|
|
1,153
|
|
4,127
|
|
5,280
|
|
429
|
|
4,851
|
|
1989
|
2011
|
31 years
|
|||||||||
RTS Key West
|
Key West
|
FL
|
—
|
|
486
|
|
4,380
|
|
—
|
|
486
|
|
4,380
|
|
4,866
|
|
338
|
|
4,528
|
|
1987
|
2011
|
35 years
|
|||||||||
JFK Medical Plaza
|
Lake Worth
|
FL
|
—
|
|
453
|
|
1,711
|
|
139
|
|
453
|
|
1,850
|
|
2,303
|
|
562
|
|
1,741
|
|
1999
|
2004
|
35 years
|
|||||||||
Palms West Building 6
|
Loxahatchee
|
FL
|
—
|
|
965
|
|
2,678
|
|
45
|
|
965
|
|
2,723
|
|
3,688
|
|
741
|
|
2,947
|
|
2000
|
2004
|
35 years
|
|||||||||
Regency Medical Office Park Phase II
|
Melbourne
|
FL
|
—
|
|
770
|
|
3,809
|
|
277
|
|
781
|
|
4,075
|
|
4,856
|
|
1,114
|
|
3,742
|
|
1998
|
2004
|
35 years
|
|||||||||
Regency Medical Office Park Phase I
|
Melbourne
|
FL
|
—
|
|
590
|
|
3,156
|
|
250
|
|
616
|
|
3,380
|
|
3,996
|
|
908
|
|
3,088
|
|
1995
|
2004
|
35 years
|
|||||||||
Aventura Heart & Health
|
Miami
|
FL
|
16,257
|
|
—
|
|
25,361
|
|
2,961
|
|
—
|
|
28,322
|
|
28,322
|
|
7,600
|
|
20,722
|
|
2006
|
2007
|
35 years
|
|||||||||
RTS Naples
|
Naples
|
FL
|
—
|
|
1,152
|
|
3,726
|
|
—
|
|
1,152
|
|
3,726
|
|
4,878
|
|
327
|
|
4,551
|
|
1999
|
2011
|
35 years
|
|||||||||
Woodlands Center for Specialized Med
|
Pensacola
|
FL
|
15,661
|
|
2,518
|
|
24,006
|
|
29
|
|
2,518
|
|
24,035
|
|
26,553
|
|
1,627
|
|
24,926
|
|
2009
|
2012
|
35 years
|
|||||||||
RTS Pt. Charlotte
|
Pt Charlotte
|
FL
|
—
|
|
966
|
|
4,581
|
|
—
|
|
966
|
|
4,581
|
|
5,547
|
|
422
|
|
5,125
|
|
1985
|
2011
|
34 years
|
|||||||||
RTS Sarasota
|
Sarasota
|
FL
|
—
|
|
1,914
|
|
3,889
|
|
—
|
|
1,914
|
|
3,889
|
|
5,803
|
|
378
|
|
5,425
|
|
1996
|
2011
|
35 years
|
|||||||||
University Medical Office Building
|
Tamarac
|
FL
|
—
|
|
—
|
|
6,690
|
|
132
|
|
—
|
|
6,822
|
|
6,822
|
|
1,724
|
|
5,098
|
|
2006
|
2007
|
35 years
|
|||||||||
UMC Tamarac
|
Tamarac
|
FL
|
—
|
|
2,039
|
|
2,936
|
|
(3,179
|
)
|
1,385
|
|
411
|
|
1,796
|
|
140
|
|
1,656
|
|
1980
|
2011
|
22 years
|
|||||||||
RTS Venice
|
Venice
|
FL
|
—
|
|
1,536
|
|
4,104
|
|
—
|
|
1,536
|
|
4,104
|
|
5,640
|
|
384
|
|
5,256
|
|
1997
|
2011
|
35 years
|
|||||||||
Augusta Medical Plaza
|
Augusta
|
GA
|
—
|
|
594
|
|
4,847
|
|
312
|
|
594
|
|
5,159
|
|
5,753
|
|
824
|
|
4,929
|
|
1972
|
2011
|
25 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Augusta Professional Building
|
Augusta
|
GA
|
—
|
|
687
|
|
6,057
|
|
349
|
|
687
|
|
6,406
|
|
7,093
|
|
1,063
|
|
6,030
|
|
1983
|
2011
|
27 years
|
|||||||||
Augusta POB I
|
Augusta
|
GA
|
—
|
|
233
|
|
7,894
|
|
309
|
|
233
|
|
8,203
|
|
8,436
|
|
1,400
|
|
7,036
|
|
1978
|
2012
|
14 years
|
|||||||||
Augusta POB II
|
Augusta
|
GA
|
—
|
|
735
|
|
13,717
|
|
102
|
|
735
|
|
13,819
|
|
14,554
|
|
1,774
|
|
12,780
|
|
1987
|
2012
|
23 years
|
|||||||||
Augusta POB III
|
Augusta
|
GA
|
—
|
|
535
|
|
3,857
|
|
(2
|
)
|
535
|
|
3,855
|
|
4,390
|
|
596
|
|
3,794
|
|
1994
|
2012
|
22 years
|
|||||||||
Augusta POB IV
|
Augusta
|
GA
|
—
|
|
675
|
|
2,182
|
|
686
|
|
675
|
|
2,868
|
|
3,543
|
|
329
|
|
3,214
|
|
1995
|
2012
|
23 years
|
|||||||||
Cobb Physicians Center
|
Austell
|
GA
|
8,499
|
|
1,145
|
|
16,805
|
|
308
|
|
1,145
|
|
17,113
|
|
18,258
|
|
2,122
|
|
16,136
|
|
1992
|
2011
|
35 years
|
|||||||||
Summit Professional Plaza I
|
Brunswick
|
GA
|
5,096
|
|
1,821
|
|
2,974
|
|
(4
|
)
|
1,821
|
|
2,970
|
|
4,791
|
|
439
|
|
4,352
|
|
2004
|
2012
|
31 years
|
|||||||||
Summit Professional Plaza II
|
Brunswick
|
GA
|
10,829
|
|
981
|
|
13,818
|
|
(4
|
)
|
981
|
|
13,814
|
|
14,795
|
|
966
|
|
13,829
|
|
1998
|
2012
|
35 years
|
|||||||||
Columbia Medical Plaza
|
Evans
|
GA
|
—
|
|
268
|
|
1,497
|
|
121
|
|
268
|
|
1,618
|
|
1,886
|
|
351
|
|
1,535
|
|
1940
|
2011
|
23 years
|
|||||||||
Parkway Physicians Center
|
Ringgold
|
GA
|
5,996
|
|
476
|
|
10,017
|
|
149
|
|
476
|
|
10,166
|
|
10,642
|
|
1,144
|
|
9,498
|
|
2004
|
2011
|
35 years
|
|||||||||
Eastside Physicians Center
|
Snellville
|
GA
|
—
|
|
1,289
|
|
25,019
|
|
1,177
|
|
1,289
|
|
26,196
|
|
27,485
|
|
5,214
|
|
22,271
|
|
1994
|
2008
|
35 years
|
|||||||||
Eastside Physicians Plaza
|
Snellville
|
GA
|
6,697
|
|
294
|
|
12,948
|
|
(56
|
)
|
294
|
|
12,892
|
|
13,186
|
|
2,366
|
|
10,820
|
|
2003
|
2008
|
35 years
|
|||||||||
Good Shepherd Physician Office Building I
|
Barrington
|
IL
|
—
|
|
152
|
|
3,224
|
|
—
|
|
152
|
|
3,224
|
|
3,376
|
|
47
|
|
3,329
|
|
1979
|
2013
|
35 years
|
|||||||||
Good Shepherd Physician Office Building II
|
Barrington
|
IL
|
—
|
|
512
|
|
12,977
|
|
—
|
|
512
|
|
12,977
|
|
13,489
|
|
190
|
|
13,299
|
|
1996
|
2013
|
35 years
|
|||||||||
Buffalo Grove Acute Care
|
Buffalo Grove
|
IL
|
—
|
|
1,826
|
|
930
|
|
(766
|
)
|
1,441
|
|
549
|
|
1,990
|
|
207
|
|
1,783
|
|
1992
|
2011
|
26 years
|
|||||||||
Trinity Hospital Physician Office Building
|
Chicago
|
IL
|
—
|
|
139
|
|
3,329
|
|
—
|
|
139
|
|
3,329
|
|
3,468
|
|
57
|
|
3,411
|
|
1971
|
2013
|
35 years
|
|||||||||
Physicians Plaza East
|
Decatur
|
IL
|
—
|
|
—
|
|
791
|
|
603
|
|
—
|
|
1,394
|
|
1,394
|
|
382
|
|
1,012
|
|
1976
|
2010
|
35 years
|
|||||||||
Physicians Plaza West
|
Decatur
|
IL
|
—
|
|
—
|
|
1,943
|
|
132
|
|
—
|
|
2,075
|
|
2,075
|
|
535
|
|
1,540
|
|
1987
|
2010
|
35 years
|
|||||||||
Physicians and Dental Building
|
Decatur
|
IL
|
—
|
|
—
|
|
676
|
|
1
|
|
—
|
|
677
|
|
677
|
|
221
|
|
456
|
|
1972
|
2010
|
35 years
|
|||||||||
Monroe Medical Center
|
Decatur
|
IL
|
—
|
|
—
|
|
93
|
|
8
|
|
—
|
|
101
|
|
101
|
|
29
|
|
72
|
|
1971
|
2010
|
35 years
|
|||||||||
Kenwood Medical Center
|
Decatur
|
IL
|
—
|
|
—
|
|
3,900
|
|
30
|
|
—
|
|
3,930
|
|
3,930
|
|
1,017
|
|
2,913
|
|
1996
|
2010
|
35 years
|
|||||||||
304 W Hay Building
|
Decatur
|
IL
|
—
|
|
—
|
|
8,702
|
|
42
|
|
—
|
|
8,744
|
|
8,744
|
|
1,444
|
|
7,300
|
|
2002
|
2010
|
35 years
|
|||||||||
302 W Hay Building
|
Decatur
|
IL
|
—
|
|
—
|
|
3,467
|
|
122
|
|
—
|
|
3,589
|
|
3,589
|
|
813
|
|
2,776
|
|
1993
|
2010
|
35 years
|
|||||||||
ENTA
|
Decatur
|
IL
|
—
|
|
—
|
|
1,150
|
|
—
|
|
—
|
|
1,150
|
|
1,150
|
|
194
|
|
956
|
|
1996
|
2010
|
35 years
|
|||||||||
301 W Hay Building
|
Decatur
|
IL
|
—
|
|
—
|
|
640
|
|
—
|
|
—
|
|
640
|
|
640
|
|
149
|
|
491
|
|
1980
|
2010
|
35 years
|
|||||||||
South Shore Medical Building
|
Decatur
|
IL
|
—
|
|
902
|
|
129
|
|
—
|
|
902
|
|
129
|
|
1,031
|
|
92
|
|
939
|
|
1991
|
2010
|
35 years
|
|||||||||
SIU Family Practice
|
Decatur
|
IL
|
—
|
|
—
|
|
1,689
|
|
19
|
|
—
|
|
1,708
|
|
1,708
|
|
360
|
|
1,348
|
|
1997
|
2010
|
35 years
|
|||||||||
Corporate Health Services
|
Decatur
|
IL
|
—
|
|
934
|
|
1,386
|
|
—
|
|
934
|
|
1,386
|
|
2,320
|
|
287
|
|
2,033
|
|
1996
|
2010
|
35 years
|
|||||||||
Rock Springs Medical
|
Decatur
|
IL
|
—
|
|
399
|
|
495
|
|
—
|
|
399
|
|
495
|
|
894
|
|
109
|
|
785
|
|
1990
|
2010
|
35 years
|
|||||||||
575 W Hay Building
|
Decatur
|
IL
|
—
|
|
111
|
|
739
|
|
—
|
|
111
|
|
739
|
|
850
|
|
137
|
|
713
|
|
1984
|
2010
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Methodist Professional Center I
|
Indianapolis
|
IN
|
—
|
|
61
|
|
37,411
|
|
1,742
|
|
61
|
|
39,153
|
|
39,214
|
|
3,237
|
|
35,977
|
|
1985
|
2012
|
25 years
|
|||||||||
LaPorte
|
La Porte
|
IN
|
764
|
|
553
|
|
1,309
|
|
—
|
|
553
|
|
1,309
|
|
1,862
|
|
184
|
|
1,678
|
|
1997
|
2011
|
34 years
|
|||||||||
Mishawaka
|
Mishawaka
|
IN
|
3,522
|
|
3,787
|
|
5,543
|
|
—
|
|
3,787
|
|
5,543
|
|
9,330
|
|
1,247
|
|
8,083
|
|
1993
|
2011
|
35 years
|
|||||||||
South Bend
|
South Bend
|
IN
|
1,450
|
|
792
|
|
2,530
|
|
—
|
|
792
|
|
2,530
|
|
3,322
|
|
295
|
|
3,027
|
|
1996
|
2011
|
34 years
|
|||||||||
OLBH Same Day Surgery Center MOB
|
Ashland
|
KY
|
—
|
|
101
|
|
19,066
|
|
57
|
|
101
|
|
19,123
|
|
19,224
|
|
1,524
|
|
17,700
|
|
1997
|
2012
|
26 years
|
|||||||||
St. Elizabeth Covington
|
Covington
|
KY
|
—
|
|
345
|
|
12,790
|
|
(16
|
)
|
345
|
|
12,774
|
|
13,119
|
|
842
|
|
12,277
|
|
2009
|
2012
|
35 years
|
|||||||||
St. Elizabeth Florence MOB
|
Florence
|
KY
|
—
|
|
402
|
|
8,279
|
|
78
|
|
402
|
|
8,357
|
|
8,759
|
|
733
|
|
8,026
|
|
2005
|
2012
|
35 years
|
|||||||||
Jefferson Clinic
|
Louisville
|
KY
|
—
|
|
—
|
|
673
|
|
—
|
|
—
|
|
673
|
|
673
|
|
—
|
|
673
|
|
CIP
|
2013
|
CIP
|
|||||||||
Lakeview MOB
|
Covington
|
LA
|
—
|
|
1,838
|
|
5,508
|
|
(2,307
|
)
|
1,276
|
|
3,763
|
|
5,039
|
|
1,573
|
|
3,466
|
|
1994
|
2011
|
28 years
|
|||||||||
Medical Arts Courtyard
|
Lafayette
|
LA
|
—
|
|
388
|
|
1,893
|
|
280
|
|
388
|
|
2,173
|
|
2,561
|
|
473
|
|
2,088
|
|
1984
|
2011
|
18 years
|
|||||||||
SW Louisiana POB
|
Lafayette
|
LA
|
—
|
|
867
|
|
5,010
|
|
537
|
|
884
|
|
5,530
|
|
6,414
|
|
1,063
|
|
5,351
|
|
1984
|
2011
|
18 years
|
|||||||||
Lakeview Surgery Center
|
Mandeville
|
LA
|
—
|
|
753
|
|
956
|
|
(1,134
|
)
|
570
|
|
5
|
|
575
|
|
1
|
|
574
|
|
1987
|
2011
|
16 years
|
|||||||||
East Jefferson Medical Plaza
|
Metairie
|
LA
|
—
|
|
168
|
|
17,264
|
|
41
|
|
168
|
|
17,305
|
|
17,473
|
|
1,825
|
|
15,648
|
|
1996
|
2012
|
32 years
|
|||||||||
East Jefferson MOB
|
Metairie
|
LA
|
7,943
|
|
107
|
|
15,137
|
|
50
|
|
107
|
|
15,187
|
|
15,294
|
|
1,634
|
|
13,660
|
|
1985
|
2012
|
28 years
|
|||||||||
Lakeside POB I
|
Metairie
|
LA
|
—
|
|
3,334
|
|
4,974
|
|
939
|
|
3,334
|
|
5,913
|
|
9,247
|
|
1,061
|
|
8,186
|
|
1986
|
2011
|
22 years
|
|||||||||
Lakeside POB II
|
Metairie
|
LA
|
—
|
|
1,046
|
|
802
|
|
289
|
|
1,046
|
|
1,091
|
|
2,137
|
|
358
|
|
1,779
|
|
1980
|
2011
|
7 years
|
|||||||||
RTS Berlin
|
Berlin
|
MD
|
—
|
|
—
|
|
2,216
|
|
—
|
|
—
|
|
2,216
|
|
2,216
|
|
210
|
|
2,006
|
|
1994
|
2011
|
29 years
|
|||||||||
Charles O. Fisher Medical Building
|
Westminster
|
MD
|
11,494
|
|
—
|
|
13,795
|
|
780
|
|
—
|
|
14,575
|
|
14,575
|
|
3,118
|
|
11,457
|
|
2009
|
2009
|
35 years
|
|||||||||
Medical Specialties Building
|
Kalamazoo
|
MI
|
—
|
|
—
|
|
19,242
|
|
661
|
|
—
|
|
19,903
|
|
19,903
|
|
2,908
|
|
16,995
|
|
1989
|
2010
|
35 years
|
|||||||||
North Professional Building
|
Kalamazoo
|
MI
|
—
|
|
—
|
|
7,228
|
|
478
|
|
—
|
|
7,706
|
|
7,706
|
|
1,116
|
|
6,590
|
|
1983
|
2010
|
35 years
|
|||||||||
Borgess Navigation Center
|
Kalamazoo
|
MI
|
—
|
|
—
|
|
2,391
|
|
—
|
|
—
|
|
2,391
|
|
2,391
|
|
399
|
|
1,992
|
|
1976
|
2010
|
35 years
|
|||||||||
Borgess Visiting Nurses
|
Kalamazoo
|
MI
|
—
|
|
90
|
|
2,328
|
|
107
|
|
90
|
|
2,435
|
|
2,525
|
|
350
|
|
2,175
|
|
1900
|
2010
|
35 years
|
|||||||||
Borgess Health & Fitness Center
|
Kalamazoo
|
MI
|
—
|
|
—
|
|
11,959
|
|
170
|
|
—
|
|
12,129
|
|
12,129
|
|
1,992
|
|
10,137
|
|
1984
|
2010
|
35 years
|
|||||||||
Heart Center Building
|
Kalamazoo
|
MI
|
—
|
|
—
|
|
8,420
|
|
281
|
|
—
|
|
8,701
|
|
8,701
|
|
1,379
|
|
7,322
|
|
1980
|
2010
|
35 years
|
|||||||||
Medical Commons Building
|
Kalamazoo Township
|
MI
|
—
|
|
—
|
|
661
|
|
6
|
|
—
|
|
667
|
|
667
|
|
109
|
|
558
|
|
1979
|
2010
|
35 years
|
|||||||||
RTS Madison Heights
|
Madison Heights
|
MI
|
—
|
|
401
|
|
2,946
|
|
—
|
|
401
|
|
2,946
|
|
3,347
|
|
268
|
|
3,079
|
|
2002
|
2011
|
35 years
|
|||||||||
RTS Monroe
|
Monroe
|
MI
|
—
|
|
281
|
|
3,450
|
|
—
|
|
281
|
|
3,450
|
|
3,731
|
|
353
|
|
3,378
|
|
1997
|
2011
|
31 years
|
|||||||||
Pro Med Center Plainwell
|
Plainwell
|
MI
|
—
|
|
—
|
|
697
|
|
—
|
|
—
|
|
697
|
|
697
|
|
130
|
|
567
|
|
1991
|
2010
|
35 years
|
|||||||||
Pro Med Center Richland
|
Richland
|
MI
|
—
|
|
233
|
|
2,267
|
|
30
|
|
233
|
|
2,297
|
|
2,530
|
|
383
|
|
2,147
|
|
1996
|
2010
|
35 years
|
|||||||||
Cogdell Duluth MOB
|
Duluth
|
MN
|
—
|
|
—
|
|
33,406
|
|
(19
|
)
|
—
|
|
33,387
|
|
33,387
|
|
1,346
|
|
32,041
|
|
2012
|
2012
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Copperfield Medical Mall
|
Concord
|
NC
|
—
|
|
1,980
|
|
2,846
|
|
256
|
|
1,980
|
|
3,102
|
|
5,082
|
|
416
|
|
4,666
|
|
1989
|
2012
|
25 years
|
|||||||||
Weddington Internal & Pediatric Medicine
|
Concord
|
NC
|
—
|
|
574
|
|
688
|
|
4
|
|
574
|
|
692
|
|
1,266
|
|
110
|
|
1,156
|
|
2000
|
2012
|
27 years
|
|||||||||
Gaston Professional Center
|
Gastonia
|
NC
|
—
|
|
833
|
|
24,885
|
|
76
|
|
833
|
|
24,961
|
|
25,794
|
|
1,922
|
|
23,872
|
|
1997
|
2012
|
35 years
|
|||||||||
Harrisburg Family Physicians
|
Harrisburg
|
NC
|
—
|
|
679
|
|
1,646
|
|
(2
|
)
|
679
|
|
1,644
|
|
2,323
|
|
135
|
|
2,188
|
|
1996
|
2012
|
35 years
|
|||||||||
Harrisburg Medical Mall
|
Harrisburg
|
NC
|
—
|
|
1,339
|
|
2,292
|
|
254
|
|
1,339
|
|
2,546
|
|
3,885
|
|
452
|
|
3,433
|
|
1997
|
2012
|
27 years
|
|||||||||
Northcross
|
Huntersville
|
NC
|
—
|
|
623
|
|
278
|
|
(1
|
)
|
623
|
|
277
|
|
900
|
|
97
|
|
803
|
|
1993
|
2012
|
22 years
|
|||||||||
REX Knightdale MOB & Wellness Center
|
Knightdale
|
NC
|
—
|
|
—
|
|
22,823
|
|
—
|
|
—
|
|
22,823
|
|
22,823
|
|
719
|
|
22,104
|
|
2009
|
2012
|
35 years
|
|||||||||
Mulberry Medical Park
|
Lenoir
|
NC
|
—
|
|
211
|
|
2,589
|
|
(2
|
)
|
211
|
|
2,587
|
|
2,798
|
|
376
|
|
2,422
|
|
1982
|
2012
|
23 years
|
|||||||||
Lincoln/Lakemont Family Practice
|
Lincolnton
|
NC
|
—
|
|
788
|
|
1,841
|
|
(3
|
)
|
788
|
|
1,838
|
|
2,626
|
|
283
|
|
2,343
|
|
1998
|
2012
|
29 years
|
|||||||||
Alamance Regional Mebane Outpatient Ctr.
|
Mebane
|
NC
|
11,948
|
|
1,963
|
|
14,291
|
|
(16
|
)
|
1,963
|
|
14,275
|
|
16,238
|
|
1,398
|
|
14,840
|
|
2008
|
2012
|
35 years
|
|||||||||
Midland Medical Park
|
Midland
|
NC
|
—
|
|
1,221
|
|
847
|
|
12
|
|
1,221
|
|
859
|
|
2,080
|
|
194
|
|
1,886
|
|
1998
|
2012
|
25 years
|
|||||||||
East Rocky Mount Kidney Center
|
Rocky Mount
|
NC
|
—
|
|
803
|
|
998
|
|
(2
|
)
|
803
|
|
996
|
|
1,799
|
|
140
|
|
1,659
|
|
2000
|
2012
|
33 years
|
|||||||||
Rocky Mount Kidney Center
|
Rocky Mount
|
NC
|
—
|
|
479
|
|
1,297
|
|
39
|
|
479
|
|
1,336
|
|
1,815
|
|
179
|
|
1,636
|
|
1990
|
2012
|
25 years
|
|||||||||
Rocky Mount Medical Park
|
Rocky Mount
|
NC
|
—
|
|
2,552
|
|
7,779
|
|
61
|
|
2,552
|
|
7,840
|
|
10,392
|
|
777
|
|
9,615
|
|
1991
|
2012
|
30 years
|
|||||||||
English Road Medical Center
|
Rocky Mount
|
NC
|
4,719
|
|
1,321
|
|
3,747
|
|
(5
|
)
|
1,321
|
|
3,742
|
|
5,063
|
|
475
|
|
4,588
|
|
2002
|
2012
|
35 years
|
|||||||||
Rowan Outpatient Surgery Center
|
Salisbury
|
NC
|
—
|
|
1,039
|
|
5,184
|
|
(5
|
)
|
1,039
|
|
5,179
|
|
6,218
|
|
403
|
|
5,815
|
|
2003
|
2012
|
35 years
|
|||||||||
Del E Webb Medical Plaza
|
Henderson
|
NV
|
—
|
|
1,028
|
|
16,993
|
|
385
|
|
1,028
|
|
17,378
|
|
18,406
|
|
1,990
|
|
16,416
|
|
1999
|
2011
|
35 years
|
|||||||||
The Terrace at South Meadows
|
Reno
|
NV
|
7,101
|
|
504
|
|
9,966
|
|
384
|
|
504
|
|
10,350
|
|
10,854
|
|
1,205
|
|
9,649
|
|
2004
|
2011
|
35 years
|
|||||||||
Central NY Medical Center
|
Syracuse
|
NY
|
24,500
|
|
1,786
|
|
26,101
|
|
386
|
|
1,786
|
|
26,487
|
|
28,273
|
|
2,173
|
|
26,100
|
|
1997
|
2012
|
33 years
|
|||||||||
Anderson Medical Arts Building I
|
Cincinnati
|
OH
|
—
|
|
—
|
|
9,632
|
|
1,475
|
|
—
|
|
11,107
|
|
11,107
|
|
2,843
|
|
8,264
|
|
1984
|
2007
|
35 years
|
|||||||||
Anderson Medical Arts Building II
|
Cincinnati
|
OH
|
—
|
|
—
|
|
15,123
|
|
2,159
|
|
—
|
|
17,282
|
|
17,282
|
|
4,029
|
|
13,253
|
|
2007
|
2007
|
35 years
|
|||||||||
745 W State Street
|
Columbus
|
OH
|
7,746
|
|
545
|
|
10,686
|
|
(5,689
|
)
|
540
|
|
5,002
|
|
5,542
|
|
693
|
|
4,849
|
|
1999
|
2011
|
35 years
|
|||||||||
Riverside North Medical Office Building
|
Columbus
|
OH
|
8,420
|
|
785
|
|
8,519
|
|
122
|
|
785
|
|
8,641
|
|
9,426
|
|
889
|
|
8,537
|
|
1962
|
2012
|
25 years
|
|||||||||
Riverside South Medical Office Building
|
Columbus
|
OH
|
6,311
|
|
586
|
|
7,298
|
|
26
|
|
586
|
|
7,324
|
|
7,910
|
|
670
|
|
7,240
|
|
1985
|
2012
|
27 years
|
|||||||||
340 East Town Medical Office Building
|
Columbus
|
OH
|
5,862
|
|
10
|
|
9,443
|
|
411
|
|
10
|
|
9,854
|
|
9,864
|
|
670
|
|
9,194
|
|
1984
|
2012
|
29 years
|
|||||||||
393 East Town Medical Office Building
|
Columbus
|
OH
|
3,288
|
|
61
|
|
4,760
|
|
5
|
|
61
|
|
4,765
|
|
4,826
|
|
435
|
|
4,391
|
|
1970
|
2012
|
20 years
|
|||||||||
141 South Sixth Medical Office Building
|
Columbus
|
OH
|
1,544
|
|
80
|
|
1,113
|
|
(7
|
)
|
80
|
|
1,106
|
|
1,186
|
|
157
|
|
1,029
|
|
1971
|
2012
|
14 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Doctors West Medical Office Building
|
Columbus
|
OH
|
4,705
|
|
414
|
|
5,362
|
|
391
|
|
414
|
|
5,753
|
|
6,167
|
|
446
|
|
5,721
|
|
1998
|
2012
|
35 years
|
|||||||||
Eastside Health Center
|
Columbus
|
OH
|
4,399
|
|
956
|
|
3,472
|
|
(2
|
)
|
956
|
|
3,470
|
|
4,426
|
|
459
|
|
3,967
|
|
1977
|
2012
|
15 years
|
|||||||||
East Main Medical Office Building
|
Columbus
|
OH
|
5,226
|
|
440
|
|
4,771
|
|
(24
|
)
|
440
|
|
4,747
|
|
5,187
|
|
305
|
|
4,882
|
|
2006
|
2012
|
35 years
|
|||||||||
Heart Center Medical Office Building
|
Columbus
|
OH
|
11,201
|
|
1,063
|
|
12,140
|
|
76
|
|
1,063
|
|
12,216
|
|
13,279
|
|
851
|
|
12,428
|
|
2004
|
2012
|
35 years
|
|||||||||
Wilkins Medical Office Building
|
Columbus
|
OH
|
—
|
|
123
|
|
18,062
|
|
(111
|
)
|
123
|
|
17,951
|
|
18,074
|
|
1,053
|
|
17,021
|
|
2002
|
2012
|
35 years
|
|||||||||
Grady Medical Office Building
|
Delaware
|
OH
|
1,824
|
|
239
|
|
2,263
|
|
178
|
|
239
|
|
2,441
|
|
2,680
|
|
240
|
|
2,440
|
|
1991
|
2012
|
25 years
|
|||||||||
Dublin Northwest Medical Office Building
|
Dublin
|
OH
|
3,118
|
|
342
|
|
3,278
|
|
12
|
|
342
|
|
3,290
|
|
3,632
|
|
268
|
|
3,364
|
|
2001
|
2012
|
34 years
|
|||||||||
Preserve III Medical Office Building
|
Dublin
|
OH
|
9,684
|
|
2,449
|
|
7,025
|
|
(66
|
)
|
2,449
|
|
6,959
|
|
9,408
|
|
538
|
|
8,870
|
|
2006
|
2012
|
35 years
|
|||||||||
Zanesville Surgery Center
|
Zanesville
|
OH
|
—
|
|
172
|
|
9,403
|
|
—
|
|
172
|
|
9,403
|
|
9,575
|
|
818
|
|
8,757
|
|
2000
|
2011
|
35 years
|
|||||||||
Dialysis Center
|
Zanesville
|
OH
|
—
|
|
534
|
|
855
|
|
—
|
|
534
|
|
855
|
|
1,389
|
|
202
|
|
1,187
|
|
1960
|
2011
|
21 years
|
|||||||||
Genesis Children's Center
|
Zanesville
|
OH
|
—
|
|
538
|
|
3,781
|
|
—
|
|
538
|
|
3,781
|
|
4,319
|
|
455
|
|
3,864
|
|
2006
|
2011
|
30 years
|
|||||||||
Medical Arts Building I
|
Zanesville
|
OH
|
—
|
|
429
|
|
2,405
|
|
110
|
|
436
|
|
2,508
|
|
2,944
|
|
425
|
|
2,519
|
|
1970
|
2011
|
20 years
|
|||||||||
Medical Arts Building II
|
Zanesville
|
OH
|
—
|
|
485
|
|
6,013
|
|
229
|
|
490
|
|
6,237
|
|
6,727
|
|
1,081
|
|
5,646
|
|
1995
|
2011
|
25 years
|
|||||||||
Medical Arts Building III
|
Zanesville
|
OH
|
—
|
|
94
|
|
1,248
|
|
—
|
|
94
|
|
1,248
|
|
1,342
|
|
206
|
|
1,136
|
|
1970
|
2011
|
25 years
|
|||||||||
Primecare Building
|
Zanesville
|
OH
|
—
|
|
130
|
|
1,344
|
|
—
|
|
130
|
|
1,344
|
|
1,474
|
|
303
|
|
1,171
|
|
1978
|
2011
|
20 years
|
|||||||||
Outpatient Rehabilitation Building
|
Zanesville
|
OH
|
—
|
|
82
|
|
1,541
|
|
—
|
|
82
|
|
1,541
|
|
1,623
|
|
200
|
|
1,423
|
|
1985
|
2011
|
28 years
|
|||||||||
Radiation Oncology Building
|
Zanesville
|
OH
|
—
|
|
105
|
|
1,201
|
|
—
|
|
105
|
|
1,201
|
|
1,306
|
|
184
|
|
1,122
|
|
1988
|
2011
|
25 years
|
|||||||||
Healthplex
|
Zanesville
|
OH
|
—
|
|
2,488
|
|
15,849
|
|
540
|
|
2,488
|
|
16,389
|
|
18,877
|
|
1,967
|
|
16,910
|
|
1990
|
2011
|
32 years
|
|||||||||
Physicians Pavilion
|
Zanesville
|
OH
|
—
|
|
422
|
|
6,297
|
|
272
|
|
422
|
|
6,569
|
|
6,991
|
|
993
|
|
5,998
|
|
1990
|
2011
|
25 years
|
|||||||||
Zanesville Northside Pharmacy
|
Zanesville
|
OH
|
—
|
|
42
|
|
635
|
|
—
|
|
42
|
|
635
|
|
677
|
|
86
|
|
591
|
|
1985
|
2011
|
28 years
|
|||||||||
Bethesda Campus MOB III
|
Zanesville
|
OH
|
—
|
|
188
|
|
1,137
|
|
12
|
|
193
|
|
1,144
|
|
1,337
|
|
171
|
|
1,166
|
|
1978
|
2011
|
25 years
|
|||||||||
Tuality 7th Avenue Medical Plaza
|
Hillsboro
|
OR
|
19,489
|
|
1,516
|
|
24,638
|
|
331
|
|
1,516
|
|
24,969
|
|
26,485
|
|
2,560
|
|
23,925
|
|
2003
|
2011
|
35 years
|
|||||||||
Professional Office Building I
|
Chester
|
PA
|
—
|
|
—
|
|
6,283
|
|
1,149
|
|
—
|
|
7,432
|
|
7,432
|
|
2,707
|
|
4,725
|
|
1978
|
2004
|
30 years
|
|||||||||
DCMH Medical Office Building
|
Drexel Hill
|
PA
|
—
|
|
—
|
|
10,424
|
|
1,198
|
|
—
|
|
11,622
|
|
11,622
|
|
4,452
|
|
7,170
|
|
1984
|
2004
|
30 years
|
|||||||||
Penn State University Outpatient Center
|
Hershey
|
PA
|
57,415
|
|
—
|
|
55,439
|
|
—
|
|
—
|
|
55,439
|
|
55,439
|
|
6,820
|
|
48,619
|
|
2008
|
2010
|
35 years
|
|||||||||
Lancaster Rehabilitation Hospital
|
Lancaster
|
PA
|
10,894
|
|
959
|
|
16,610
|
|
(16
|
)
|
959
|
|
16,594
|
|
17,553
|
|
1,161
|
|
16,392
|
|
2007
|
2012
|
35 years
|
|||||||||
Lancaster ASC MOB
|
Lancaster
|
PA
|
9,507
|
|
593
|
|
17,117
|
|
(14
|
)
|
593
|
|
17,103
|
|
17,696
|
|
1,326
|
|
16,370
|
|
2007
|
2012
|
35 years
|
|||||||||
St. Joseph Medical Office Building
|
Reading
|
PA
|
—
|
|
—
|
|
10,823
|
|
715
|
|
—
|
|
11,538
|
|
11,538
|
|
1,596
|
|
9,942
|
|
2006
|
2010
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Doylestown Health & Wellness Center
|
Warrington
|
PA
|
—
|
|
4,452
|
|
17,383
|
|
148
|
|
4,497
|
|
17,486
|
|
21,983
|
|
1,525
|
|
20,458
|
|
2001
|
2012
|
34 years
|
|||||||||
Beaufort Medical Plaza
|
Beaufort
|
SC
|
—
|
|
593
|
|
9,593
|
|
(9
|
)
|
593
|
|
9,584
|
|
10,177
|
|
979
|
|
9,198
|
|
1999
|
2012
|
35 years
|
|||||||||
Roper Medical Office Building
|
Charleston
|
SC
|
8,768
|
|
127
|
|
14,737
|
|
927
|
|
127
|
|
15,664
|
|
15,791
|
|
1,521
|
|
14,270
|
|
1990
|
2012
|
28 years
|
|||||||||
St. Francis Medical Plaza (Charleston)
|
Charleston
|
SC
|
—
|
|
447
|
|
3,946
|
|
166
|
|
447
|
|
4,112
|
|
4,559
|
|
432
|
|
4,127
|
|
2003
|
2012
|
35 years
|
|||||||||
Providence MOB I
|
Columbia
|
SC
|
—
|
|
225
|
|
4,274
|
|
23
|
|
225
|
|
4,297
|
|
4,522
|
|
685
|
|
3,837
|
|
1979
|
2012
|
18 years
|
|||||||||
Providence MOB II
|
Columbia
|
SC
|
—
|
|
122
|
|
1,834
|
|
12
|
|
122
|
|
1,846
|
|
1,968
|
|
296
|
|
1,672
|
|
1985
|
2012
|
18 years
|
|||||||||
Providence MOB III
|
Columbia
|
SC
|
—
|
|
766
|
|
4,406
|
|
188
|
|
766
|
|
4,594
|
|
5,360
|
|
519
|
|
4,841
|
|
1990
|
2012
|
23 years
|
|||||||||
One Medical Park
|
Columbia
|
SC
|
—
|
|
210
|
|
7,939
|
|
(7
|
)
|
214
|
|
7,928
|
|
8,142
|
|
1,082
|
|
7,060
|
|
1984
|
2012
|
19 years
|
|||||||||
Three Medical Park
|
Columbia
|
SC
|
—
|
|
40
|
|
10,650
|
|
24
|
|
40
|
|
10,674
|
|
10,714
|
|
1,206
|
|
9,508
|
|
1988
|
2012
|
25 years
|
|||||||||
St. Francis Millennium Medical Office Building
|
Greenville
|
SC
|
15,641
|
|
—
|
|
13,062
|
|
10,453
|
|
—
|
|
23,515
|
|
23,515
|
|
4,902
|
|
18,613
|
|
2009
|
2009
|
35 years
|
|||||||||
200 Andrews
|
Greenville
|
SC
|
—
|
|
789
|
|
2,014
|
|
(4
|
)
|
789
|
|
2,010
|
|
2,799
|
|
392
|
|
2,407
|
|
1994
|
2012
|
29 years
|
|||||||||
St. Francis CMOB
|
Greenville
|
SC
|
—
|
|
501
|
|
7,661
|
|
101
|
|
501
|
|
7,762
|
|
8,263
|
|
607
|
|
7,656
|
|
2001
|
2012
|
35 years
|
|||||||||
St. Francis Outpatient Surgery Center
|
Greenville
|
SC
|
—
|
|
1,007
|
|
16,538
|
|
(16
|
)
|
1,007
|
|
16,522
|
|
17,529
|
|
1,328
|
|
16,201
|
|
2001
|
2012
|
35 years
|
|||||||||
St. Francis Professional Medical Center
|
Greenville
|
SC
|
—
|
|
342
|
|
6,337
|
|
135
|
|
360
|
|
6,454
|
|
6,814
|
|
688
|
|
6,126
|
|
1984
|
2012
|
24 years
|
|||||||||
St. Francis Women's
|
Greenville
|
SC
|
—
|
|
322
|
|
4,877
|
|
(6
|
)
|
322
|
|
4,871
|
|
5,193
|
|
701
|
|
4,492
|
|
1991
|
2012
|
24 years
|
|||||||||
St. Francis Medical Plaza (Greenville)
|
Greenville
|
SC
|
—
|
|
88
|
|
5,876
|
|
5
|
|
88
|
|
5,881
|
|
5,969
|
|
618
|
|
5,351
|
|
1998
|
2012
|
24 years
|
|||||||||
Irmo Professional MOB
|
Irmo
|
SC
|
7,529
|
|
1,726
|
|
5,414
|
|
56
|
|
1,726
|
|
5,470
|
|
7,196
|
|
766
|
|
6,430
|
|
2004
|
2011
|
35 years
|
|||||||||
River Hills Medical Plaza
|
Little River
|
SC
|
—
|
|
1,406
|
|
1,813
|
|
(2
|
)
|
1,406
|
|
1,811
|
|
3,217
|
|
259
|
|
2,958
|
|
1999
|
2012
|
27 years
|
|||||||||
Mount Pleasant Medical Office Longpoint
|
Mount Pleasant
|
SC
|
—
|
|
670
|
|
4,455
|
|
48
|
|
670
|
|
4,503
|
|
5,173
|
|
538
|
|
4,635
|
|
2001
|
2012
|
34 years
|
|||||||||
Carolina Forest Medical Plaza
|
Myrtle Beach
|
SC
|
—
|
|
1,742
|
|
5,279
|
|
(6
|
)
|
1,742
|
|
5,273
|
|
7,015
|
|
580
|
|
6,435
|
|
2007
|
2012
|
35 years
|
|||||||||
Medical Arts Center of Orangeburg
|
Orangeburg
|
SC
|
—
|
|
823
|
|
3,299
|
|
8
|
|
823
|
|
3,307
|
|
4,130
|
|
452
|
|
3,678
|
|
1984
|
2012
|
28 years
|
|||||||||
Mary Black Westside Medical Office Bldg
|
Spartanburg
|
SC
|
—
|
|
291
|
|
5,057
|
|
35
|
|
291
|
|
5,092
|
|
5,383
|
|
517
|
|
4,866
|
|
1991
|
2012
|
31 years
|
|||||||||
Colleton Medical Arts
|
Walterboro
|
SC
|
—
|
|
983
|
|
2,780
|
|
(1,837
|
)
|
782
|
|
1,144
|
|
1,926
|
|
358
|
|
1,568
|
|
1998
|
2011
|
27 years
|
|||||||||
Health Park Medical Office Building
|
Chattanooga
|
TN
|
6,555
|
|
2,305
|
|
8,949
|
|
2
|
|
2,305
|
|
8,951
|
|
11,256
|
|
693
|
|
10,563
|
|
2004
|
2012
|
35 years
|
|||||||||
Peerless Crossing Medical Center
|
Cleveland
|
TN
|
6,910
|
|
1,217
|
|
6,464
|
|
(7
|
)
|
1,217
|
|
6,457
|
|
7,674
|
|
479
|
|
7,195
|
|
2006
|
2012
|
35 years
|
|||||||||
Medical Center Physicians Tower
|
Jackson
|
TN
|
13,885
|
|
549
|
|
27,074
|
|
(16
|
)
|
549
|
|
27,058
|
|
27,607
|
|
2,050
|
|
25,557
|
|
2010
|
2012
|
35 years
|
|||||||||
Grandview MOB
|
Jasper
|
TN
|
—
|
|
1,011
|
|
5,322
|
|
(4,750
|
)
|
901
|
|
682
|
|
1,583
|
|
369
|
|
1,214
|
|
1998
|
2011
|
29.5 years
|
|||||||||
Abilene Medical Commons I
|
Abilene
|
TX
|
—
|
|
179
|
|
1,611
|
|
43
|
|
179
|
|
1,654
|
|
1,833
|
|
444
|
|
1,389
|
|
2000
|
2004
|
35 years
|
|
Location
|
|
Initial Cost to Company
|
|
Gross Amount Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||||||||||
Property Name
|
City
|
State /
Province
|
Encumbrances
|
Land and
Improvements
|
Buildings and
Improvements
|
Costs
Capitalized
Subsequent
to Acquisition
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Accumulated
Depreciation
|
NBV
|
Year of
Construction
|
Year
Acquired
|
Life on
Which
Depreciation
in Income
Statement
is Computed
|
||||||||||||||||||
Brookfield Clinic
|
Brookfield
|
WI
|
—
|
|
2,638
|
|
4,093
|
|
—
|
|
2,638
|
|
4,093
|
|
6,731
|
|
498
|
|
6,233
|
|
1999
|
2011
|
35 years
|
|||||||||
Hartland Clinic
|
Hartland
|
WI
|
—
|
|
321
|
|
5,050
|
|
—
|
|
321
|
|
5,050
|
|
5,371
|
|
523
|
|
4,848
|
|
1994
|
2011
|
35 years
|
|||||||||
Theda Clark Medical Center Office Pavilion
|
Neenah
|
WI
|
—
|
|
—
|
|
7,080
|
|
33
|
|
—
|
|
7,113
|
|
7,113
|
|
1,008
|
|
6,105
|
|
1993
|
2010
|
39 years
|
|||||||||
Aylward Medical Building Condo Floors 3 & 4
|
Neenah
|
WI
|
—
|
|
—
|
|
4,462
|
|
—
|
|
—
|
|
4,462
|
|
4,462
|
|
608
|
|
3,854
|
|
2006
|
2010
|
39 years
|
|||||||||
New Berlin Clinic
|
New Berlin
|
WI
|
—
|
|
678
|
|
7,121
|
|
—
|
|
678
|
|
7,121
|
|
7,799
|
|
793
|
|
7,006
|
|
1999
|
2011
|
35 years
|
|||||||||
WestWood Health & Fitness
|
Pewaukee
|
WI
|
—
|
|
823
|
|
11,649
|
|
—
|
|
823
|
|
11,649
|
|
12,472
|
|
1,309
|
|
11,163
|
|
1997
|
2011
|
35 years
|
|||||||||
Watertown Clinic
|
Watertown
|
WI
|
—
|
|
166
|
|
3,234
|
|
—
|
|
166
|
|
3,234
|
|
3,400
|
|
323
|
|
3,077
|
|
2003
|
2011
|
35 years
|
|||||||||
Southside Clinic
|
Waukesha
|
WI
|
—
|
|
218
|
|
5,273
|
|
—
|
|
218
|
|
5,273
|
|
5,491
|
|
534
|
|
4,957
|
|
1997
|
2011
|
35 years
|
|||||||||
Rehabilitation Hospital
|
Waukesha
|
WI
|
—
|
|
372
|
|
15,636
|
|
—
|
|
372
|
|
15,636
|
|
16,008
|
|
1,388
|
|
14,620
|
|
2008
|
2011
|
35 years
|
|||||||||
Casper WY MOB
|
Casper
|
WY
|
—
|
|
3,015
|
|
26,513
|
|
99
|
|
3,017
|
|
26,610
|
|
29,627
|
|
5,019
|
|
24,608
|
|
2008
|
2008
|
35 years
|
|||||||||
TOTAL FOR MEDICAL OFFICE BUILDINGS
|
|
|
808,868
|
|
252,017
|
|
3,107,833
|
|
69,967
|
|
250,414
|
|
3,179,403
|
|
3,429,817
|
|
361,547
|
|
3,068,270
|
|
|
|
|
|||||||||
TOTAL FOR ALL PROPERTIES
|
|
|
$
|
2,524,887
|
|
$
|
1,848,099
|
|
$
|
18,181,186
|
|
$
|
364,126
|
|
$
|
1,855,968
|
|
$
|
18,537,443
|
|
$
|
20,393,411
|
|
$
|
2,881,950
|
|
$
|
17,511,461
|
|
|
|
|
|
Page
|
Consolidated Financial Statement Schedule
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
3.1
|
|
Amended and Restated Certificate of Incorporation, as amended, of Ventas, Inc.
|
|
Incorporated by reference to Exhibit 3.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
|
|
|
|
|
|
3.2
|
|
Fourth Amended and Restated Bylaws, as amended, of Ventas, Inc.
|
|
Incorporated by reference to Exhibit 3.2 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
|
|
|
|
|
|
4.1
|
|
Specimen common stock certificate.
|
|
Incorporated by reference to Exhibit 4.1 to our Annual Report on Form 10-K for the year ended December 31, 2012.
|
|
|
|
|
|
4.2
|
|
Ventas, Inc. Distribution Reinvestment and Stock Purchase Plan.
|
|
Incorporated by reference to the Prospectus included in our Registration Statement on Form S-3, filed on November 25, 2011, File No. 333-178185.
|
|
|
|
|
|
4.3
|
|
Indenture dated as of September 19, 2006 by and among Ventas, Inc., Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuer(s), the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.9 to our Registration Statement on Form S-3, filed on April 7, 2006, File No. 333-133115.
|
|
|
|
|
|
4.4
|
|
Third Supplemental Indenture dated as of November 16, 2010 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on November 18, 2010.
|
|
|
|
|
|
4.5
|
|
Fourth Supplemental Indenture dated as of May 17, 2011 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on May 20, 2011.
|
|
|
|
|
|
4.6
|
|
Fifth Supplemental Indenture dated as of February 10, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on February 14, 2012.
|
|
|
|
|
|
4.7
|
|
Sixth Supplemental Indenture dated as of April 17, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on April 18, 2012.
|
|
|
|
|
|
4.8
|
|
Seventh Supplemental Indenture dated as of August 3, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012.
|
|
|
|
|
|
4.9
|
|
Eighth Supplemental Indenture dated as of December 13, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.3 to our Current Report on Form 8-K, filed on December 13, 2012.
|
|
|
|
|
|
4.10
|
|
Ninth Supplemental Indenture dated as of March 7, 2013 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Registration Statement on Form 8-A, filed on March 7, 2013.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
4.11
|
|
Tenth Supplemental Indenture dated as of March 19, 2013 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on March 19, 2013.
|
|
|
|
|
|
4.12
|
|
Indenture dated as of September 26, 2013 by and among Ventas, Inc., Ventas Realty, Limited Partnership, as Issuer, the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.7 to our Registration Statement on Form S-3, filed on April 2, 2012, File No. 333-180521.
|
|
|
|
|
|
4.13
|
|
First Supplemental Indenture dated as of September 26, 2013 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on September 26, 2013.
|
|
|
|
|
|
4.14
|
|
Second Supplemental Indenture dated as of September 26, 2013 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.3 to our Current Report on Form 8-K, filed on September 26, 2013.
|
|
|
|
|
|
4.15
|
|
Indenture dated as of August 19, 1997 by and between Nationwide Health Properties, Inc. and The Bank of New York, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Registration Statement on Form S-3, filed on July 25, 1997, File No. 333-32135.
|
|
|
|
|
|
4.16
|
|
Indenture dated as of January 13, 1999 by and between Nationwide Health Properties, Inc. and Chase Manhattan Bank and Trust Company, National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Registration Statement on Form S-3, filed on January 15, 1999, File No. 333-70707.
|
|
|
|
|
|
4.17
|
|
First Supplemental Indenture dated as of May 18, 2005 by and between Nationwide Health Properties, Inc. and J.P. Morgan Trust Company, National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on May 11, 2005, File No. 001-09028.
|
|
|
|
|
|
10.1
|
|
First Amended and Restated Agreement of Limited Partnership of Ventas Realty, Limited Partnership.
|
|
Incorporated by reference to Exhibit 3.5 to our Registration Statement on Form S-4, as amended, File No. 333-89312.
|
|
|
|
|
|
10.2.1
|
|
Form of Property Lease Agreement with respect to the Brookdale properties.
|
|
Incorporated by reference to Exhibit 10.13 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.2
|
|
Form of Lease Guaranty with respect to the Brookdale properties.
|
|
Incorporated by reference to Exhibit 10.16 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.3
|
|
Schedule of Agreements Substantially Identical in All Material Respects to the agreements incorporated by reference as Exhibits 10.2.1 and 10.2.2 to this Annual Report on Form 10-K, pursuant to Instruction 2 to Item 601 of Regulation S-K.
|
|
Incorporated by reference to Exhibit 10.3 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2005.
|
|
|
|
|
|
10.2.4.1
|
|
Agreement Regarding Leases dated as of October 19, 2004 by and between Brookdale Provident Properties LLC and PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.14 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.2.4.2
|
|
Letter Agreement dated March 28, 2005 by and among Brookdale Provident Properties LLC, PSLT-BLC Properties Holdings, LLC and Ventas Provident, LLC (successor to Provident Senior Living Trust).
|
|
Incorporated by reference to Exhibit 10.19 to Amendment No. 4 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on April 11, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.4.3
|
|
Letter Agreement dated April 4, 2008 by and between Brookdale Provident Properties LLC and PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.2.4.3 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.4
|
|
First Amendment to Agreement Regarding Leases dated as of February 11, 2009 by and between PSLT-BLC Properties Holdings, LLC, Brookdale Provident Properties LLC, Brookdale Provident Management LLC and Ventas Provident, LLC.
|
|
Incorporated by reference to Exhibit 10.2.4.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.2.4.5
|
|
Second Amendment to Agreement Regarding Leases dated as of March 2, 2009 by and between PSLT-BLC Properties Holdings, LLC and Brookdale Provident Properties LLC, et al.
|
|
Incorporated by reference to Exhibit 10.2.4.5 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.6
|
|
Third Amendment to Agreement Regarding Leases dated as of November 6, 2009 by and between PSLT-BLC Properties Holdings, LLC and Brookdale Provident Properties LLC, et al.
|
|
Incorporated by reference to Exhibit 10.2.4.6 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.7
|
|
Guaranty of Agreement Regarding Leases dated as of October 19, 2004 by Brookdale Living Communities, Inc. in favor of PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.15 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.5
|
|
Guaranty dated as of February 11, 2009 by Brookdale Senior Living Inc., for the benefit of the landlords with respect to the Brookdale and Alterra properties, PSLT-BLC Properties Holdings, LLC and PSLT-ALS Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.2.9 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.3
|
|
Amended and Restated Credit and Guaranty Agreement, dated as of December 9, 2013, among Ventas Realty, Limited Partnership, Ventas SSL Ontario II, Inc. and Ventas SSL Ontario III, Inc., as Borrowers, Ventas, Inc., as Guarantor, the Lenders identified therein, and Bank of America, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer and Alternative Currency Fronting Lender.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on December 9, 2013.
|
|
|
|
|
|
10.4*
|
|
Ventas, Inc. 2004 Stock Plan for Directors, as amended.
|
|
Incorporated by reference to Exhibit 10.16.1 to our Annual Report on Form 10-K for the year ended December 31, 2004.
|
|
|
|
|
|
10.5.1*
|
|
Ventas, Inc. 2006 Incentive Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.10.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.5.2*
|
|
Form of Stock Option Agreement—2006 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.15.2 to our Annual Report on Form 10-K for the year ended December 31, 2006.
|
|
|
|
|
|
10.5.3*
|
|
Form of Restricted Stock Agreement—2006 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.15.3 to our Annual Report on Form 10-K for the year ended December 31, 2006.
|
|
|
|
|
|
10.6.1*
|
|
Ventas, Inc. 2006 Stock Plan for Directors, as amended.
|
|
Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.
|
|
|
|
|
|
10.6.2*
|
|
Form of Stock Option Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.11.2 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.6.3*
|
|
Form of Amendment to Stock Option Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.2 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.
|
|
|
|
|
|
10.6.4*
|
|
Form of Restricted Stock Unit Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.11.4 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.7.1*
|
|
Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on May 23, 2012.
|
|
|
|
|
|
10.7.2*
|
|
Form of Stock Option Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.2 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.3*
|
|
Form of Restricted Stock Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.3 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.4*
|
|
Form of Stock Option Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.4 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.5*
|
|
Form of Restricted Stock Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.5 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.6*
|
|
Form of Restricted Stock Unit Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.6 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.8.1*
|
|
Ventas Executive Deferred Stock Compensation Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.12.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.8.2*
|
|
Deferral Election Form under the Ventas Executive Deferred Stock Compensation Plan.
|
|
Incorporated by reference to Exhibit 10.12.2 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.9.1*
|
|
Ventas Nonemployee Directors’ Deferred Stock Compensation Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.13.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.9.2*
|
|
Deferral Election Form under the Ventas Nonemployee Directors’ Deferred Stock Compensation Plan.
|
|
Incorporated by reference to Exhibit 10.13.2 to our Annual Report on Form 10-K fir the year ended December 31, 2008.
|
|
|
|
|
|
10.10.1*
|
|
Nationwide Health Properties, Inc. 2005 Performance Incentive Plan.
|
|
Incorporated by reference to Appendix B to the Nationwide Health Properties, Inc. definitive Proxy Statement for the 2005 Annual Meeting, filed on March 24, 2005, File No. 001-09028.
|
|
|
|
|
|
10.10.2*
|
|
First Amendment to the Nationwide Health Properties, Inc. 2005 Performance Incentive Plan, dated October 28, 2008.
|
|
Incorporated by reference to Exhibit 10.1 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
10.11.1*
|
|
Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006.
|
|
Incorporated by reference to Exhibit 10.1 to the Nationwide Health Properties, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, File No. 001-09028.
|
|
|
|
|
|
10.11.2*
|
|
Amendment to the Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006.
|
|
Incorporated by reference to Exhibit 10.9 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.12*
|
|
Amended and Restated Deferred Compensation Plan of Nationwide Health Properties, Inc. dated October 28, 2008.
|
|
Incorporated by reference to Exhibit 10.6 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
10.13*
|
|
Second Amended and Restated Employment Agreement dated as of March 22, 2011 between Ventas, Inc. and Debra A. Cafaro.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on March 24, 2011.
|
|
|
|
|
|
10.14.1*
|
|
Employment Agreement dated as of July 31, 1998 between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.2.1 to our Annual Report on Form 10-K for the year ended December 31, 2002.
|
|
|
|
|
|
10.14.2*
|
|
Amendment dated as of September 30, 1999 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.2.2 to our Annual Report on Form 10-K for the year ended December 31, 2002.
|
|
|
|
|
|
10.14.3*
|
|
Amendment dated as of March 19, 2007 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.14.4*
|
|
Amendment dated as of December 31, 2008 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.4 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.14.5*
|
|
Amended and Restated Change-in-Control Severance Agreement dated as of March 22, 2011 between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K, filed on March 24, 2011.
|
|
|
|
|
|
10.15.1*
|
|
Amended and Restated Employment Agreement dated as of December 31, 2004 between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.4 to our Current Report on Form 8-K filed on January 6, 2005.
|
|
|
|
|
|
10.15.2*
|
|
Amendment dated as of March 19, 2007 to Amended and Restated Employment Agreement between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.15.3*
|
|
Amendment dated as of December 31, 2008 to Amended and Restated Employment Agreement between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.16.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.16.1*
|
|
Employment Agreement dated as of September 18, 2002 between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.3 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2002.
|
|
|
|
|
|
10.16.2*
|
|
Amendment dated as of March 19, 2007 to Employment Agreement between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.3 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.16.3*
|
|
Amendment dated as of December 31, 2008 to Employment Agreement between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.17.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.17*
|
|
Employment Agreement dated as of June 22, 2010 between Ventas, Inc. and Todd W. Lillibridge.
|
|
Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.
|
|
|
|
|
|
10.18*
|
|
Employee Protection and Noncompetition Agreement dated as of October 21, 2013 between Ventas, Inc. and John D. Cobb.
|
|
Filed herewith
|
|
|
|
|
|
10.19*
|
|
Letter Agreement dated as of June 30, 2011 between Ventas, Inc. and Douglas M. Pasquale.
|
|
Incorporated by reference to Exhibit 10.3 to our Current Report on Form 8-K, filed on July 11, 2011.
|
|
|
|
|
|
10.20*
|
|
Ventas Employee and Director Stock Purchase Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.18 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
12
|
|
Statement Regarding Computation of Ratios of Earnings to Fixed Charges.
|
|
Filed herewith.
|
|
|
|
|
|
21
|
|
Subsidiaries of Ventas, Inc.
|
|
Filed herewith.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
23
|
|
Consent of Ernst & Young LLP.
|
|
Filed herewith.
|
|
|
|
|
|
31.1
|
|
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(a) under the Exchange Act.
|
|
Filed herewith.
|
|
|
|
|
|
31.2
|
|
Certification of Richard A. Schweinhart, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(a) under the Exchange Act.
|
|
Filed herewith.
|
|
|
|
|
|
32.1
|
|
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350.
|
|
Filed herewith.
|
|
|
|
|
|
32.2
|
|
Certification of Richard A. Schweinhart, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350.
|
|
Filed herewith.
|
|
|
|
|
|
101
|
|
Interactive Data File.
|
|
Filed herewith.
|
|
|
VENTAS, INC.
|
|
|
|
|
|
|
|
By:
|
/s/ DEBRA A. CAFARO
|
|
|
|
Debra A. Cafaro
Chairman and Chief Executive Officer |
Signature
|
Title
|
Date
|
|
|
|
/s/ DEBRA A. CAFARO
|
Chairman and Chief Executive Officer (Principal Executive Officer)
|
February 18, 2014
|
Debra A. Cafaro
|
|
|
|
|
|
/s/ RICHARD A. SCHWEINHART
|
Executive Vice President and Chief Financial Officer (Principal Financial Officer)
|
February 18, 2014
|
Richard A. Schweinhart
|
|
|
|
|
|
/s/ ROBERT J. BREHL
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
February 18, 2014
|
Robert J. Brehl
|
|
|
|
|
|
/s/ DOUGLAS CROCKER II
|
Director
|
February 18, 2014
|
Douglas Crocker II
|
|
|
|
|
|
/s/ RONALD G. GEARY
|
Director
|
February 18, 2014
|
Ronald G. Geary
|
|
|
|
|
|
/s/ JAY M. GELLERT
|
Director
|
February 18, 2014
|
Jay M. Gellert
|
|
|
|
|
|
/s/ RICHARD I. GILCHRIST
|
Director
|
February 18, 2014
|
Richard I. Gilchrist
|
|
|
|
|
|
/s/ MATTHEW J. LUSTIG
|
Director
|
February 18, 2014
|
Matthew J. Lustig
|
|
|
|
|
|
/s/ DOUGLAS M. PASQUALE
|
Director
|
February 18, 2014
|
Douglas M. Pasquale
|
|
|
|
|
|
/s/ ROBERT D. REED
|
Director
|
February 18, 2014
|
Robert D. Reed
|
|
|
Signature
|
Title
|
Date
|
|
|
|
/s/ SHELI Z. ROSENBERG
|
Director
|
February 18, 2014
|
Sheli Z. Rosenberg
|
|
|
|
|
|
/s/ GLENN J. RUFRANO
|
Director
|
February 18, 2014
|
Glenn J. Rufrano
|
|
|
|
|
|
/s/ JAMES D. SHELTON
|
Director
|
February 18, 2014
|
James D. Shelton
|
|
|
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
3.1
|
|
Amended and Restated Certificate of Incorporation, as amended, of Ventas, Inc.
|
|
Incorporated by reference to Exhibit 3.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
|
|
|
|
|
|
3.2
|
|
Fourth Amended and Restated Bylaws, as amended, of Ventas, Inc.
|
|
Incorporated by reference to Exhibit 3.2 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
|
|
|
|
|
|
4.1
|
|
Specimen common stock certificate.
|
|
Incorporated by reference to Exhibit 4.1 to our Annual Report on Form 10-K for the year ended December 31, 2012.
|
|
|
|
|
|
4.2
|
|
Ventas, Inc. Distribution Reinvestment and Stock Purchase Plan.
|
|
Incorporated by reference to the Prospectus included in our Registration Statement on Form S-3, filed on November 25, 2011, File No. 333-178185.
|
|
|
|
|
|
4.3
|
|
Indenture dated as of September 19, 2006 by and among Ventas, Inc., Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuer(s), the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.9 to our Registration Statement on Form S-3, filed on April 7, 2006, File No. 333-133115.
|
|
|
|
|
|
4.4
|
|
Third Supplemental Indenture dated as of November 16, 2010 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on November 18, 2010.
|
|
|
|
|
|
4.5
|
|
Fourth Supplemental Indenture dated as of May 17, 2011 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on May 20, 2011.
|
|
|
|
|
|
4.6
|
|
Fifth Supplemental Indenture dated as of February 10, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on February 14, 2012.
|
|
|
|
|
|
4.7
|
|
Sixth Supplemental Indenture dated as of April 17, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on April 18, 2012.
|
|
|
|
|
|
4.8
|
|
Seventh Supplemental Indenture dated as of August 3, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012.
|
|
|
|
|
|
4.9
|
|
Eighth Supplemental Indenture dated as of December 13, 2012 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.3 to our Current Report on Form 8-K, filed on December 13, 2012.
|
|
|
|
|
|
4.10
|
|
Ninth Supplemental Indenture dated as of March 7, 2013 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Registration Statement on Form 8-A, filed on March 7, 2013.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
4.11
|
|
Tenth Supplemental Indenture dated as of March 19, 2013 by and among Ventas Realty, Limited Partnership and Ventas Capital Corporation, as Issuers, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on March 19, 2013.
|
|
|
|
|
|
4.12
|
|
Indenture dated as of September 26, 2013 by and among Ventas, Inc., Ventas Realty, Limited Partnership, as Issuer, the Guarantors named therein, as Guarantors, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.7 to our Registration Statement on Form S-3, filed on April 2, 2012, File No. 333-180521.
|
|
|
|
|
|
4.13
|
|
First Supplemental Indenture dated as of September 26, 2013 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K, filed on September 26, 2013.
|
|
|
|
|
|
4.14
|
|
Second Supplemental Indenture dated as of September 26, 2013 by and among Ventas Realty, Limited Partnership, as Issuer, Ventas, Inc., as Guarantor, and U.S. Bank National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.3 to our Current Report on Form 8-K, filed on September 26, 2013.
|
|
|
|
|
|
4.15
|
|
Indenture dated as of August 19, 1997 by and between Nationwide Health Properties, Inc. and The Bank of New York, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Registration Statement on Form S-3, filed on July 25, 1997, File No. 333-32135.
|
|
|
|
|
|
4.16
|
|
Indenture dated as of January 13, 1999 by and between Nationwide Health Properties, Inc. and Chase Manhattan Bank and Trust Company, National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Registration Statement on Form S-3, filed on January 15, 1999, File No. 333-70707.
|
|
|
|
|
|
4.17
|
|
First Supplemental Indenture dated as of May 18, 2005 by and between Nationwide Health Properties, Inc. and J.P. Morgan Trust Company, National Association, as Trustee.
|
|
Incorporated by reference to Exhibit 4.1 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on May 11, 2005, File No. 001-09028.
|
|
|
|
|
|
10.1
|
|
First Amended and Restated Agreement of Limited Partnership of Ventas Realty, Limited Partnership.
|
|
Incorporated by reference to Exhibit 3.5 to our Registration Statement on Form S-4, as amended, File No. 333-89312.
|
|
|
|
|
|
10.2.1
|
|
Form of Property Lease Agreement with respect to the Brookdale properties.
|
|
Incorporated by reference to Exhibit 10.13 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.2
|
|
Form of Lease Guaranty with respect to the Brookdale properties.
|
|
Incorporated by reference to Exhibit 10.16 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.3
|
|
Schedule of Agreements Substantially Identical in All Material Respects to the agreements incorporated by reference as Exhibits 10.2.1 and 10.2.2 to this Annual Report on Form 10-K, pursuant to Instruction 2 to Item 601 of Regulation S-K.
|
|
Incorporated by reference to Exhibit 10.3 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2005.
|
|
|
|
|
|
10.2.4.1
|
|
Agreement Regarding Leases dated as of October 19, 2004 by and between Brookdale Provident Properties LLC and PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.14 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.2.4.2
|
|
Letter Agreement dated March 28, 2005 by and among Brookdale Provident Properties LLC, PSLT-BLC Properties Holdings, LLC and Ventas Provident, LLC (successor to Provident Senior Living Trust).
|
|
Incorporated by reference to Exhibit 10.19 to Amendment No. 4 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on April 11, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.4.3
|
|
Letter Agreement dated April 4, 2008 by and between Brookdale Provident Properties LLC and PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.2.4.3 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.4
|
|
First Amendment to Agreement Regarding Leases dated as of February 11, 2009 by and between PSLT-BLC Properties Holdings, LLC, Brookdale Provident Properties LLC, Brookdale Provident Management LLC and Ventas Provident, LLC.
|
|
Incorporated by reference to Exhibit 10.2.4.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.2.4.5
|
|
Second Amendment to Agreement Regarding Leases dated as of March 2, 2009 by and between PSLT-BLC Properties Holdings, LLC and Brookdale Provident Properties LLC, et al.
|
|
Incorporated by reference to Exhibit 10.2.4.5 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.6
|
|
Third Amendment to Agreement Regarding Leases dated as of November 6, 2009 by and between PSLT-BLC Properties Holdings, LLC and Brookdale Provident Properties LLC, et al.
|
|
Incorporated by reference to Exhibit 10.2.4.6 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.2.4.7
|
|
Guaranty of Agreement Regarding Leases dated as of October 19, 2004 by Brookdale Living Communities, Inc. in favor of PSLT-BLC Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.15 to Amendment No. 2 to Provident Senior Living Trust’s Registration Statement on Form S-11, filed on January 18, 2005, File No. 333-120206.
|
|
|
|
|
|
10.2.5
|
|
Guaranty dated as of February 11, 2009 by Brookdale Senior Living Inc., for the benefit of the landlords with respect to the Brookdale and Alterra properties, PSLT-BLC Properties Holdings, LLC and PSLT-ALS Properties Holdings, LLC.
|
|
Incorporated by reference to Exhibit 10.2.9 to our Annual Report on Form 10-K for the year ended December 31, 2009.
|
|
|
|
|
|
10.3
|
|
Amended and Restated Credit and Guaranty Agreement, dated as of December 9, 2013, among Ventas Realty, Limited Partnership, Ventas SSL Ontario II, Inc. and Ventas SSL Ontario III, Inc., as Borrowers, Ventas, Inc., as Guarantor, the Lenders identified therein, and Bank of America, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer and Alternative Currency Fronting Lender.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on December 9, 2013.
|
|
|
|
|
|
10.4*
|
|
Ventas, Inc. 2004 Stock Plan for Directors, as amended.
|
|
Incorporated by reference to Exhibit 10.16.1 to our Annual Report on Form 10-K for the year ended December 31, 2004.
|
|
|
|
|
|
10.5.1*
|
|
Ventas, Inc. 2006 Incentive Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.10.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.5.2*
|
|
Form of Stock Option Agreement—2006 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.15.2 to our Annual Report on Form 10-K for the year ended December 31, 2006.
|
|
|
|
|
|
10.5.3*
|
|
Form of Restricted Stock Agreement—2006 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.15.3 to our Annual Report on Form 10-K for the year ended December 31, 2006.
|
|
|
|
|
|
10.6.1*
|
|
Ventas, Inc. 2006 Stock Plan for Directors, as amended.
|
|
Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.6.2*
|
|
Form of Stock Option Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.11.2 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.6.3*
|
|
Form of Amendment to Stock Option Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.2 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.
|
|
|
|
|
|
10.6.4*
|
|
Form of Restricted Stock Unit Agreement—2006 Stock Plan for Directors.
|
|
Incorporated by reference to Exhibit 10.11.4 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.7.1*
|
|
Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on May 23, 2012.
|
|
|
|
|
|
10.7.2*
|
|
Form of Stock Option Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.2 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.3*
|
|
Form of Restricted Stock Agreement (Employees) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.3 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.4*
|
|
Form of Stock Option Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.4 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.5*
|
|
Form of Restricted Stock Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.5 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.7.6*
|
|
Form of Restricted Stock Unit Agreement (Directors) under the Ventas, Inc. 2012 Incentive Plan.
|
|
Incorporated by reference to Exhibit 10.6 to our Registration Form on S-8, filed on August 7, 2012, File No. 333-183121.
|
|
|
|
|
|
10.8.1*
|
|
Ventas Executive Deferred Stock Compensation Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.12.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.8.2*
|
|
Deferral Election Form under the Ventas Executive Deferred Stock Compensation Plan.
|
|
Incorporated by reference to Exhibit 10.12.2 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.9.1*
|
|
Ventas Nonemployee Directors’ Deferred Stock Compensation Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.13.1 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.9.2*
|
|
Deferral Election Form under the Ventas Nonemployee Directors’ Deferred Stock Compensation Plan.
|
|
Incorporated by reference to Exhibit 10.13.2 to our Annual Report on Form 10-K fir the year ended December 31, 2008.
|
|
|
|
|
|
10.10.1*
|
|
Nationwide Health Properties, Inc. 2005 Performance Incentive Plan.
|
|
Incorporated by reference to Appendix B to the Nationwide Health Properties, Inc. definitive Proxy Statement for the 2005 Annual Meeting, filed on March 24, 2005, File No. 001-09028.
|
|
|
|
|
|
10.10.2*
|
|
First Amendment to the Nationwide Health Properties, Inc. 2005 Performance Incentive Plan, dated October 28, 2008.
|
|
Incorporated by reference to Exhibit 10.1 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
10.11.1*
|
|
Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006.
|
|
Incorporated by reference to Exhibit 10.1 to the Nationwide Health Properties, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, File No. 001-09028.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.11.2*
|
|
Amendment to the Nationwide Health Properties, Inc. Retirement Plan for Directors, as amended and restated on April 20, 2006.
|
|
Incorporated by reference to Exhibit 10.9 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
10.12*
|
|
Amended and Restated Deferred Compensation Plan of Nationwide Health Properties, Inc. dated October 28, 2008.
|
|
Incorporated by reference to Exhibit 10.6 to the Nationwide Health Properties, Inc. Current Report on Form 8-K, filed on November 3, 2008, File No. 001-09028.
|
|
|
|
|
|
10.13*
|
|
Second Amended and Restated Employment Agreement dated as of March 22, 2011 between Ventas, Inc. and Debra A. Cafaro.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on March 24, 2011.
|
|
|
|
|
|
10.14.1*
|
|
Employment Agreement dated as of July 31, 1998 between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.2.1 to our Annual Report on Form 10-K for the year ended December 31, 2002.
|
|
|
|
|
|
10.14.2*
|
|
Amendment dated as of September 30, 1999 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.2.2 to our Annual Report on Form 10-K for the year ended December 31, 2002.
|
|
|
|
|
|
10.14.3*
|
|
Amendment dated as of March 19, 2007 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.14.4*
|
|
Amendment dated as of December 31, 2008 to Employment Agreement between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.15.4 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.14.5*
|
|
Amended and Restated Change-in-Control Severance Agreement dated as of March 22, 2011 between Ventas, Inc. and T. Richard Riney.
|
|
Incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K, filed on March 24, 2011.
|
|
|
|
|
|
10.15.1*
|
|
Amended and Restated Employment Agreement dated as of December 31, 2004 between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.4 to our Current Report on Form 8-K filed on January 6, 2005.
|
|
|
|
|
|
10.15.2*
|
|
Amendment dated as of March 19, 2007 to Amended and Restated Employment Agreement between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.15.3*
|
|
Amendment dated as of December 31, 2008 to Amended and Restated Employment Agreement between Ventas, Inc. and Richard A. Schweinhart.
|
|
Incorporated by reference to Exhibit 10.16.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.16.1*
|
|
Employment Agreement dated as of September 18, 2002 between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.3 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2002.
|
|
|
|
|
|
10.16.2*
|
|
Amendment dated as of March 19, 2007 to Employment Agreement between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.3 to our Current Report on Form 8-K, filed on March 23, 2007.
|
|
|
|
|
|
10.16.3*
|
|
Amendment dated as of December 31, 2008 to Employment Agreement between Ventas, Inc. and Raymond J. Lewis.
|
|
Incorporated by reference to Exhibit 10.17.3 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
10.17*
|
|
Employment Agreement dated as of June 22, 2010 between Ventas, Inc. and Todd W. Lillibridge.
|
|
Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.
|
|
|
|
|
|
10.18*
|
|
Employee Protection and Noncompetition Agreement dated as of October 21, 2013 between Ventas, Inc. and John D. Cobb.
|
|
Filed herewith
|
|
|
|
|
|
10.19*
|
|
Letter Agreement dated as of June 30, 2011 between Ventas, Inc. and Douglas M. Pasquale.
|
|
Incorporated by reference to Exhibit 10.3 to our Current Report on Form 8-K, filed on July 11, 2011.
|
|
|
|
|
|
Exhibit
Number
|
|
Description of Document
|
|
Location of Document
|
10.20*
|
|
Ventas Employee and Director Stock Purchase Plan, as amended.
|
|
Incorporated by reference to Exhibit 10.18 to our Annual Report on Form 10-K for the year ended December 31, 2008.
|
|
|
|
|
|
12
|
|
Statement Regarding Computation of Ratios of Earnings to Fixed Charges.
|
|
Filed herewith.
|
|
|
|
|
|
21
|
|
Subsidiaries of Ventas, Inc.
|
|
Filed herewith.
|
|
|
|
|
|
23
|
|
Consent of Ernst & Young LLP.
|
|
Filed herewith.
|
|
|
|
|
|
31.1
|
|
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(a) under the Exchange Act.
|
|
Filed herewith.
|
|
|
|
|
|
31.2
|
|
Certification of Richard A. Schweinhart, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(a) under the Exchange Act.
|
|
Filed herewith.
|
|
|
|
|
|
32.1
|
|
Certification of Debra A. Cafaro, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350.
|
|
Filed herewith.
|
|
|
|
|
|
32.2
|
|
Certification of Richard A. Schweinhart, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. 1350.
|
|
Filed herewith.
|
|
|
|
|
|
101
|
|
Interactive Data File.
|
|
Filed herewith.
|
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
For the year ended December 31,
|
||||||||||||||||||
(dollars in thousands)
|
|
2013
|
|
2012
|
|
2011
|
|
2010
|
|
2009
|
||||||||||
Income before (loss) income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest
|
|
$
|
478,990
|
|
|
$
|
282,374
|
|
|
$
|
330,468
|
|
|
$
|
220,997
|
|
|
$
|
186,184
|
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Senior notes payable and other debt
|
|
334,484
|
|
|
288,276
|
|
|
223,804
|
|
|
169,981
|
|
|
170,232
|
|
|||||
Distributions from unconsolidated entities
|
|
6,641
|
|
|
10,006
|
|
|
3,790
|
|
|
689
|
|
|
—
|
|
|||||
Earnings
|
|
$
|
820,115
|
|
|
$
|
580,656
|
|
|
$
|
558,062
|
|
|
$
|
391,667
|
|
|
$
|
356,416
|
|
Interest
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Senior notes payable and other debt expense
|
|
$
|
334,484
|
|
|
$
|
288,276
|
|
|
$
|
223,804
|
|
|
$
|
169,981
|
|
|
$
|
170,232
|
|
Interest capitalized
|
|
855
|
|
|
1,857
|
|
|
1,233
|
|
|
—
|
|
|
304
|
|
|||||
Fixed charges
|
|
$
|
335,339
|
|
|
$
|
290,133
|
|
|
$
|
225,037
|
|
|
$
|
169,981
|
|
|
$
|
170,536
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
|
|
2.45
|
|
|
2.00
|
|
|
2.48
|
|
|
2.30
|
|
|
2.09
|
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
|
|
1425 Hunt Club, LLC
|
Delaware
|
1445 Hunt Club, LLC
|
Delaware
|
14851 Yorba Street, LLC
|
Delaware
|
200 Andrews, LLC
|
South Carolina
|
2010 Union Limited Partnership
|
Washington
|
251 Medical Center, LLC
|
Delaware
|
253 Medical Center, LLC
|
Delaware
|
745 West State Street, LLC
|
Delaware
|
755 Milwaukee MOB, LLC
|
Delaware
|
890 Professional MOB, LLC
|
Delaware
|
AL (AP) Holding LLC
|
Delaware
|
AL Blytheville Realty, LLC
|
Delaware
|
AL (HCN) Holding LLC
|
Delaware
|
AL (MT) Holding LLC
|
Delaware
|
AL I/East Brunswick Senior Housing, LLC
|
Delaware
|
AL I/Glen Ellyn Senior Housing, LLC
|
Delaware
|
AL I/La Costa Senior Housing, LLC
|
Delaware
|
AL I/Naperville Senior Housing, LLC
|
Delaware
|
AL I/North Lynbrook Senior Housing, LLC
|
Delaware
|
AL I/Pinehurst Senior Housing, LLC
|
Delaware
|
AL I/Providence Senior Housing, LLC
|
Delaware
|
AL I/Richmond Senior Housing, LLC
|
Delaware
|
AL I/Stamford Senior Housing Living, LLC
|
Delaware
|
AL I/Woodcliff Lake Senior Housing, LLC
|
Delaware
|
AL III Investments, L.L.C.
|
Virginia
|
AL One Investments, LLC
|
Delaware
|
AL One PA Investments, LLC
|
Delaware
|
AL Subfunding II, LLC
|
Delaware
|
AL Subfunding LLC
|
Delaware
|
Albuquerque AL RE, L.P.
|
Delaware
|
Allison Park Nominee LLC
|
Delaware
|
Allison Park Nominee LP
|
Delaware
|
American Retirement Villas Properties II, LP
|
California
|
American Retirement Villas Properties III, LP
|
California
|
Anchor Cogdell Covington, LLC
|
Kentucky
|
Anchor Cogdell Doylestown GP, LLC
|
Pennsylvania
|
Anchor Cogdell Doylestown LP
|
Pennsylvania
|
Anchor Cogdell Florence, LLC
|
Kentucky
|
Anchor Cogdell, LLC
|
Delaware
|
ASL Leasehold Sub, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Atria Collier Park, LLC
|
Delaware
|
Atria Lynnbrooke (Irvine), L.P.
|
Delaware
|
Atria Lynnbrooke G.P., L.L.C.
|
Delaware
|
Atria Meridian , LLC
|
Delaware
|
Atria Northgate Park, LLC
|
Delaware
|
Atria Shorehaven, LLC
|
Delaware
|
Atria Vista del Rio, LLC
|
Delaware
|
Atrium at Weston Place, LLC
|
Tennessee
|
Augusta Medical Partners, LLC
|
Georgia
|
Augusta Medical Plaza, LLC
|
Delaware
|
Augusta Professional Building, LLC
|
Delaware
|
Barclay Downs Associates, LP
|
North Carolina
|
BCC Altoona Realty GP, LLC
|
Delaware
|
BCC Altoona Realty, LLC
|
Delaware
|
BCC Altoona Realty, LP
|
Delaware
|
BCC Berwick Realty GP, LLC
|
Delaware
|
BCC Berwick Realty, LLC
|
Delaware
|
BCC Berwick Realty, LP
|
Delaware
|
BCC Lewistown Realty GP, LLC
|
Delaware
|
BCC Lewistown Realty, LLC
|
Delaware
|
BCC Lewistown Realty, LP
|
Delaware
|
BCC Martinsburg Realty, LLC
|
Delaware
|
BCC Medina Realty, LLC
|
Delaware
|
BCC Ontario Realty, LLC
|
Delaware
|
BCC Reading Realty GP, LLC
|
Delaware
|
BCC Reading Realty, LLC
|
Delaware
|
BCC Reading Realty, LP
|
Delaware
|
BCC Shippensburg Realty, LLC
|
Delaware
|
BCC State College Realty GP, LLC
|
Delaware
|
BCC State College Realty, LLC
|
Delaware
|
BCC State College Realty, LP
|
Delaware
|
BCC Washington Township Realty, LLC
|
Delaware
|
Beaufort Medical Plaza, LLC
|
South Carolina
|
Bedford AL RE, Ltd.
|
Texas
|
BLC of California – San Marcos, L.P.
|
Delaware
|
Bloomsburg Nominee LLC
|
Delaware
|
Bloomsburg Nominee LP
|
Delaware
|
Bonney Lake MOB Investors LLC
|
Washington
|
Brandermill POB, LLC
|
Delaware
|
Brandon MOB Investors, LLC
|
Mississippi
|
Brookdale Holdings, LLC
|
Delaware
|
Brookdale Living Communities of Arizona-EM, LLC
|
Delaware
|
Brookdale Living Communities of California, LLC
|
Delaware
|
Brookdale Living Communities of California-RC, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Brookdale Living Communities of California-San Marcos, LLC
|
Delaware
|
Brookdale Living Communities of Connecticut, LLC
|
Delaware
|
Brookdale Living Communities of Florida-CL, LLC
|
Delaware
|
Brookdale Living Communities of Illinois-2960, LLC
|
Delaware
|
Brookdale Living Communities of Illinois-HV, LLC
|
Delaware
|
Brookdale Living Communities of Illinois-II, LLC
|
Delaware
|
Brookdale Living Communities of Massachusetts-RB, LLC
|
Delaware
|
Brookdale Living Communities of Minnesota, LLC
|
Delaware
|
Brookdale Living Communities of New Jersey, LLC
|
Delaware
|
Brookdale Living Communities of New York-GB, LLC
|
Delaware
|
Brookdale Living Communities of Washington-PP, LLC
|
Delaware
|
Brunswick MOB, LLC
|
Georgia
|
BSG CS, LLC (f/k/a BSG Erdman, LLC)
|
Wisconsin
|
Buffalo Grove ACC, LLC
|
Delaware
|
Cabarrus Medical Partners, LP
|
North Carolina
|
Cabarrus POB, LP
|
North Carolina
|
Cambridge Development, L.L.C.
|
New York
|
Carolina Forest Plaza, LLC
|
South Carolina
|
Carroll Medical Office Associates, LLC
|
Delaware
|
Carroll Medical Office Holdings, LLC
|
Delaware
|
Carrollwood Assisted Living, Ltd.
|
Texas
|
Casper Wyoming Hospital, LLC
|
Delaware
|
Chippewa Nominee LLC
|
Delaware
|
Chippewa Nominee LP
|
Delaware
|
Clackamas Woods Assisted Living, LLC
|
Oregon
|
Clayton County AL RE, L.P.
|
Delaware
|
Cobb County AL RE, L.P.
|
Delaware
|
Cogdell Cleveland Rehab, L.P.
|
Ohio
|
Cogdell Duluth MOB, LLC
|
Minnesota
|
Cogdell Health Campus MOB, LP
|
Pennsylvania
|
Cogdell Investors (Birkdale II), LP
|
North Carolina
|
Cogdell Investors (Birkdale), LP
|
North Carolina
|
Cogdell Investors (Mallard), LP
|
North Carolina
|
Cogdell Investors (OSS), LP
|
North Carolina
|
Cogdell Lancaster Rehab, LP
|
Pennsylvania
|
Cogdell Spencer Advisors Management, LLC
|
Delaware
|
Cogdell Spencer Advisors, LLC
|
Delaware
|
Cogdell Spencer LP
|
Delaware
|
Cogdell Spencer TRS Holdings, LLC
|
Delaware
|
Colleton Medical Arts, LLC
|
Delaware
|
Collwood Knolls
|
California
|
Collwood Knolls Acquisition L.L.C.
|
Delaware
|
Columbia Medical Plaza, LLC
|
Delaware
|
Consera BSD, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Consera Healthcare Real Estate LLC
|
South Carolina
|
Copperfield MOB, LP
|
North Carolina
|
CPH MOB, LLC
|
Delaware
|
Cranford Development, LLC
|
Delaware
|
CS Business Trust I
|
Maryland
|
CS Business Trust II
|
Maryland
|
CSA Medical Partners Management, LLC
|
Delaware
|
Dillsburg Nominee LLC
|
Delaware
|
Dillsburg Nominee LP
|
Delaware
|
DV Greenville MOB LLC
|
Delaware
|
DV Parker II MOB LLC
|
Delaware
|
EA-BSB 2, L.L.C.
|
Delaware
|
East Houston Medical Plaza, LLC
|
Delaware
|
East Houston MOB, LLC
|
Delaware
|
East Jefferson Medical Office Building Limited Partnership
|
Louisiana
|
East Jefferson Medical Plaza, LLC
|
Louisiana
|
East Jefferson Medical Specialty Building
|
Louisiana
|
East Rocky Mount Kidney Center Associates, LP
|
North Carolina
|
EC Halcyon Realty, LLC
|
Delaware
|
EC Hamilton Place Realty, LLC
|
Delaware
|
EC Lebanon Realty, LLC
|
Delaware
|
EC Martinez Realty, LLC
|
Delaware
|
EC Muncie Realty, LLC
|
Delaware
|
EC Timberlin Parc Realty, LLC
|
Delaware
|
Elder Healthcare Developers, LLC
|
Georgia
|
ElderTrust
|
Maryland
|
ET Belvedere Finance, L.L.C.
|
Delaware
|
ET Berkshire, LLC
|
Delaware
|
ET Capital Corp.
|
Delaware
|
ET DCMH Finance, L.L.C.
|
Delaware
|
ET GENPAR, L.L.C
|
Delaware
|
ET Lehigh, LLC
|
Delaware
|
ET Pennsburg Finance, L.L.C.
|
Delaware
|
ET POBI Finance, L.L.C.
|
Delaware
|
ET Sanatoga, LLC
|
Delaware
|
ET Sub-Belvedere Limited Partnership, L.L.P.
|
Virginia
|
ET Sub-Berkshire Limited Partnership
|
Delaware
|
ET Sub-DCMH Limited Partnership, L.L.P
|
Virginia
|
ET Sub-Heritage Woods, L.L.C.
|
Delaware
|
ET Sub-Highgate, L.P.
|
Pennsylvania
|
ET Sub-Lehigh Limited Partnership
|
Delaware
|
ET Sub-Lopatcong, L.L.C.
|
Delaware
|
ET Sub-Pennsburg Manor Limited Partnership, L.L.P.
|
Virginia
|
ET Sub-POB I Limited Partnership, L.L.P.
|
Virginia
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
ET Sub-Sanatoga Limited Partnership
|
Delaware
|
ET Sub-Wayne I Limited Partnership, L.L.P.
|
Virginia
|
ET Wayne Finance, L.L.C.
|
Delaware
|
Facility at Tanasbourne JV1, LLC
|
Delaware
|
Fair Oak Assisted Living L.L.C.
|
Delaware
|
Franciscan Development Company, LLC
|
North Carolina
|
Gaston MOB, LP
|
North Carolina
|
Good Sam MOB Investors, LLC
|
Washington
|
Grandview MOB, LLC
|
Delaware
|
Grayslake MOB, LLC
|
Delaware
|
Greenville MOB Owners LLC
|
Delaware
|
Gurnee ACC, LLC
|
Delaware
|
Gurnee Centre Club, LLC
|
Delaware
|
Gurnee Imaging Center, LLC
|
Delaware
|
Hanover MOB, LLC
|
Virginia
|
Harrisburg Medical Clinic, LP
|
North Carolina
|
Health Park MOB, LLC
|
Tennessee
|
Hendersonville Nominee LLC
|
Delaware
|
Hendersonville Nominee LP
|
Delaware
|
Henrico MOB, LLC
|
Delaware
|
Hillhaven Properties, LLC (formerly Hillhaven Properties, LTD, an Oregon LTD)
|
Delaware
|
HMOB Associates, L.P.
|
South Carolina
|
HPSMLD Limited Liability Company
|
Wisconsin
|
HRI Coral Springs, LLC
|
Delaware
|
HRI Tamarac, LLC
|
Delaware
|
HVMLD Limited Liability Company
|
Wisconsin
|
Indianapolis MOB, LLC
|
Indiana
|
IPC (AP) Holding LLC
|
Delaware
|
IPC (HCN) Holding LLC
|
Delaware
|
IPC (MT) Holding LLC
|
Delaware
|
J Hal Smith Building POB, LLC
|
Delaware
|
JER/NHP Management Texas, LLC
|
Texas
|
JER/NHP Senior Housing, LLC
|
Delaware
|
JER/NHP Senior Living Acquisition, LLC
|
Delaware
|
JER/NHP Senior Living Kansas, Inc.
|
Kansas
|
JER/NHP Senior Living Kansas, LLC
|
Delaware
|
JER/NHP Senior Living Texas, L.P.
|
Texas
|
JHL Associates, LLC
|
South Carolina
|
JJS Properties, Inc.
|
Delaware
|
Karrington of Park Ridge L.L.C.
|
Ohio
|
Kentwood AL RE Limited Partnership
|
Delaware
|
Kew Gardens Senior Development, LLC
|
New York
|
Kingsport Nominee LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Kingsport Nominee LP
|
Delaware
|
Knoxville Nominee LLC
|
Delaware
|
Knoxville Nominee LP
|
Delaware
|
KS01 Series B Owner, LLC
|
Delaware
|
Lakeside POB 1, LLC
|
Delaware
|
Lakeside POB 2, LLC
|
Delaware
|
Lakeview Medical Office Building, LLC
|
Delaware
|
Lakeview Medical Plaza, LLC
|
Delaware
|
Lakeview Surgery Center, LLC
|
Delaware
|
Larkfield Gardens Associates, L.P.
|
New York
|
LBS Limited Partnership
|
Wisconsin
|
Lebanon Nominee LLC
|
Delaware
|
Lebanon Nominee LP
|
Delaware
|
Lewisburg Nominee LLC
|
Delaware
|
Lewisburg Nominee LP
|
Delaware
|
Lexington MOB, LLC
|
South Carolina
|
LHP B LP Partner, LLC
|
Delaware
|
LHP B Trust
|
Maryland
|
LHP B Trust, LLC
|
Delaware
|
LHP B Trust, LP
|
Delaware
|
LHPT Appleton AHI, LLC
|
Delaware
|
LHPT Appleton MO South, LLC
|
Delaware
|
LHPT Appleton MO West, LLC
|
Delaware
|
LHPT Ascension Round Rock GP, LLC
|
Delaware
|
LHPT Ascension Round Rock LP
|
Delaware
|
LHPT Birmingham THE, LLC
|
Delaware
|
LHPT Birmingham, LLC
|
Delaware
|
LHPT Columbus II THE, LLC
|
Delaware
|
LHPT Columbus THE, LLC
|
Delaware
|
LHPT Columbus, LLC
|
Delaware
|
LHPT DC GP, LLC
|
Delaware
|
LHPT DC THE, LP
|
Delaware
|
LHPT Decatur II, LLC
|
Delaware
|
LHPT Decatur, LLC
|
Delaware
|
LHPT Holdings II, LLC
|
Delaware
|
LHPT LilliCal, LLC
|
Delaware
|
LHPT LP Partners, LLC
|
Delaware
|
LHPT TCMC Aylward, LLC
|
Delaware
|
LHPT TCMC Pavilion, LLC
|
Delaware
|
LHRET 191, LLC
|
Delaware
|
LHRET Anderson, LLC
|
Delaware
|
LHRET Ascension Austin II, LP
|
Delaware
|
LHRET Ascension Austin Partner GP, LLC
|
Delaware
|
LHRET Ascension Austin Partner II GP, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
LHRET Ascension Austin, L.P.
|
Delaware
|
LHRET Ascension KC, LLC
|
Delaware
|
LHRET Ascension, LLC
|
Delaware
|
LHRET Ascension Michigan, LLC
|
Delaware
|
LHRET Ascension SJ, LLC
|
Delaware
|
LHRET Ascension SV, LLC
|
Delaware
|
LHRET Ascension SW Michigan, LLC
|
Delaware
|
LHRET CSM, LLC
|
Delaware
|
LHRET Hershey II, LLC
|
Delaware
|
LHRET Hershey, L.P.
|
Delaware
|
LHRET Hershey, LLC
|
Delaware
|
LHRET Lafayette, LLC
|
Delaware
|
LHRET LHT, LLC
|
Delaware
|
LHRET Michigan Land, LLC
|
Delaware
|
LHRET Michigan THE, LLC
|
Delaware
|
LHRET Michigan, LLC
|
Delaware
|
LHRET Partner, LLC
|
Delaware
|
LHRET Reading I, LLC
|
Delaware
|
LHRET Reading II, LLC
|
Delaware
|
LHRET Reading, L.P.
|
Delaware
|
LHRET Reading, LLC
|
Delaware
|
LHRET St. Louis THE, LLC
|
Delaware
|
LHRET St. Louis, LLC
|
Delaware
|
LHRET Wheat Ridge, LLC
|
Delaware
|
LHT Beech Grove LLC
|
Delaware
|
LHT Phoenix, LLC
|
Delaware
|
Libertyville Centre Club, LLC
|
Delaware
|
Lillibridge Facilities Development, Inc.
|
Delaware
|
Lillibridge Healthcare Properties Trust
|
Maryland
|
Lillibridge Healthcare Properties Trust, L.P.
|
Delaware
|
Lillibridge Healthcare Properties Trust, LLC
|
Delaware
|
Lillibridge Healthcare Real Estate Trust
|
Maryland
|
Lillibridge Healthcare Real Estate Trust, L.P.
|
Delaware
|
Lillibridge Healthcare Services II, Inc.(f/k/a Cogdell Spencer Erdman Management Company)
|
North Carolina
|
Lillibridge Healthcare Services, Inc.
|
Illinois
|
LilliCal, LLC
|
Delaware
|
Lima Nominee LLC
|
Delaware
|
Lima Nominee LP
|
Delaware
|
LO Limited Partnership
|
Wisconsin
|
Loyalsock Nominee LLC
|
Delaware
|
Loyalsock Nominee LP
|
Delaware
|
LTMLD Limited Liability Company
|
Wisconsin
|
MAB Parent LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Madison MOB Investors, LLC
|
Mississippi
|
Mansfield MOB, LLC
|
Delaware
|
Marland Place Associates Limited Partnership
|
Massachusetts
|
Mary Black Westside Medical Park I Limited Partnership
|
South Carolina
|
McShane/NHP JV, LLC
|
Delaware
|
Medical Arts Courtyard, LLC
|
Delaware
|
Medical Investors I, LP
|
North Carolina
|
Medical Investors III, LP
|
South Carolina
|
Medical Park Three Limited Partnership
|
South Carolina
|
Minot Avenue Realty, LLC
|
Maine
|
Missoula Senior Housing Facility, LLC
|
Oregon
|
MLD Banning Investment, LLC
|
California
|
MLD Delaware Trust
|
Delaware
|
MLD Financial Capital Corporation
|
Delaware
|
MLD MOB Indiana, LLC
|
Delaware
|
MLD Properties II, Inc.
|
Delaware
|
MLD Properties Limited Partnership
|
Delaware
|
MLD Properties, Inc.
|
Delaware
|
MLD Properties, LLC
|
Delaware
|
MLD Shelton Investors Partnership
|
California
|
MLD Texas Corporation
|
Texas
|
MLD Wisconsin ALF, Inc.
|
Delaware
|
MLD Wisconsin SNF, Inc.
|
Delaware
|
MS Barrington SH, LLC
|
Delaware
|
MS Bon Air SH, LLC
|
Delaware
|
MS Carmichael SH, LP
|
Delaware
|
MS Cascade SH, LLC
|
Delaware
|
MS Chandler SH, LLC
|
Delaware
|
MS Cinco Ranch SH, LLC
|
Delaware
|
MS Fort Worth SH, LLC
|
Delaware
|
MS Frisco SH, LLC
|
Delaware
|
MS Holladay SH, LLC
|
Delaware
|
MS Jackson SH, LLC
|
Delaware
|
MS Jacksonville SH, LLC
|
Delaware
|
MS Leawood SH, LLC
|
Delaware
|
MS Lower Makefield SH, LLC
|
Delaware
|
MS Old Meridian SH, LLC
|
Delaware
|
MS Overland Park SH, LLC
|
Delaware
|
MS River Road SH, LLC
|
Delaware
|
Mulberry Medical Park Limited Partnership
|
North Carolina
|
Nationwide ALF, Inc.
|
Delaware
|
Nationwide ALF-Pensacola, LLC
|
Delaware
|
Nationwide Careage San Jose Partnership
|
California
|
Nationwide Health Properties - Kansas II, Inc.
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Nationwide Health Properties Finance Corporation
|
Delaware
|
Nationwide Health Properties, LLC
|
Delaware
|
Nationwide Health Properties-Kansas, Inc.
|
Kansas
|
New Portland Road Realty, LLC
|
Maine
|
NH Texas Properties Limited Partnership
|
Texas
|
NHP Bedford G.P., LLC
|
Texas
|
NHP Brownstown, LLC
|
Delaware
|
NHP Carillon, LLC
|
Delaware
|
NHP Centereach, LLC
|
Delaware
|
NHPCO Wisconsin Lender, LLC
|
Delaware
|
NHP GP LLC
|
Delaware
|
NHP Heritage Club, LLC
|
Colorado
|
NHP Houston MOB LLC
|
Delaware
|
NHP HS Holding, Inc.
|
Texas
|
NHP Huntsville MOB LLC
|
Delaware
|
NHP Kingston Business Trust
|
Massachusetts
|
NHP Madison, LLC
|
New York
|
NHP Mass Realty, LLC
|
Delaware
|
NHP Master RE G.P., LLC
|
Delaware
|
NHP McClain, LLC
|
Delaware
|
NHP Operating Partnership L.P.
|
Delaware
|
NHP Properties Business Trust
|
Massachusetts
|
NHP SB 399-401 East Highland, LLC
|
Delaware
|
NHP SCC, LLC
|
Delaware
|
NHP Secured, Inc.
|
California
|
NHP Senior Indiana, LLC
|
Delaware
|
NHP SH Alabama, LLC
|
Delaware
|
NHP SH Florida, LLC
|
Delaware
|
NHP SH Georgia, LLC
|
Delaware
|
NHP SH Mississippi, LLC
|
Delaware
|
NHP SH Oklahoma, LLC
|
Delaware
|
NHP SH Pennsylvania, LLC
|
Delaware
|
NHP SH South Carolina I, LLC
|
Delaware
|
NHP SH Tennessee, LLC
|
Delaware
|
NHP SH Virginia, LLC
|
Delaware
|
NHP Springfield Business Trust
|
Massachusetts
|
NHP St. Francis, LLC
|
Delaware
|
NHP Trisun, LLC
|
Delaware
|
NHP Tucson Health Care Associates Limited Partnership
|
Delaware
|
NHP Veritas FL, LLC
|
Delaware
|
NHP Villas, Inc.
|
California
|
NHP Washington ALF, LLC
|
Delaware
|
NHP WI Denmark, LLC
|
Delaware
|
NHP WI Franklin, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
NHP WI Green Bay, LLC
|
Delaware
|
NHP WI Kenosha, LLC
|
Delaware
|
NHP WI Madison, LLC
|
Delaware
|
NHP WI Manitowoc, LLC
|
Delaware
|
NHP WI McFarland, LLC
|
Delaware
|
NHP WI Menomonee Falls, LLC
|
Delaware
|
NHP WI Racine, LLC
|
Delaware
|
NHP WI Rapids, LLC
|
Delaware
|
NHP WI Sheboygan, LLC
|
Delaware
|
NHP WI Stevens Point, LLC
|
Delaware
|
NHP WI Stoughton, LLC
|
Delaware
|
NHP WI Two Rivers, LLC
|
Delaware
|
NHP WI Wausau, LLC
|
Delaware
|
NHP Wisconsin Development LLC
|
Wisconsin
|
NHP Wisconsin II, LLC
|
Delaware
|
NHP/Broe II, LLC
|
Delaware
|
NHP/Broe, LLC
|
Delaware
|
NHP/McShane SAMC, LLC
|
Delaware
|
NHP/Nexcore Irmo, LLC
|
Delaware
|
NHP/PMB Burbank Medical Plaza I, LLC
|
Delaware
|
NHP/PMB Burbank Medical Plaza II, LLC
|
Delaware
|
NHP/PMB Chula Vista, LLC
|
Delaware
|
NHP/PMB Del E. Webb Medical Plaza, LLC
|
Delaware
|
NHP/PMB Eden Medical Plaza, LLC
|
Delaware
|
NHP/PMB Gilbert LLC
|
Delaware
|
NHP/PMB GP LLC
|
Delaware
|
NHP/PMB Kenneth E. Watts Medical Plaza, LLC
|
Delaware
|
NHP/PMB L.P.
|
Delaware
|
NHP/PMB Mission Viejo, LLC
|
Delaware
|
NHP/PMB Orange, LLC
|
Delaware
|
NHP/PMB Pasadena LLC
|
Delaware
|
NHP/PMB Pomerado, LLC
|
Delaware
|
NHP/PMB Pomona, LLC
|
Delaware
|
NHP/PMB San Gabriel Valley Medical Plaza, LLC
|
Delaware
|
NHP/PMB Santa Clarita Valley Medical Plaza, LLC
|
Delaware
|
NHP/PMB St. Francis Lynwood Medical Plaza, LLC
|
Delaware
|
NHP/PMB Tuality 7th Avenue Medical Plaza, LLC
|
Delaware
|
NHP/PMBRES LLC
|
Delaware
|
NHPCO Wisconsin, LLC
|
Delaware
|
NHP-Cobb Physicians Center, LLC
|
Delaware
|
NHP-Parkway Physicians Center, LLC
|
Delaware
|
North Shore MOB #1, LLC
|
Delaware
|
North Shore MOB #2, LLC
|
Delaware
|
NV Briargate MOB LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
NV Broadway MOB LLC
|
Delaware
|
NV Gateway MOB LP
|
Delaware
|
NV GVR MOB LLC
|
Delaware
|
NV HFH MOB LLC
|
Delaware
|
NV Knightdale MOB LLC
|
Delaware
|
NV NBHQ LP
|
Delaware
|
NV NB MOB LP
|
Delaware
|
NV Potomac MOB LLC
|
Delaware
|
NV Printers Park MOB LLC
|
Delaware
|
NV Solano MOB LP
|
Delaware
|
NV Vaca Valley MOB LP
|
Delaware
|
OHT Limited Partnership
|
Wisconsin
|
Orangeburg Medical Office Building
|
South Carolina
|
Parker II MOB Owners LLC
|
Delaware
|
Parkridge MOB, LLC
|
South Carolina
|
PDP Castro Valley #2 LLC
|
Delaware
|
PDP Mission Hills 1 LLC
|
Delaware
|
Peerless MOB, LLC
|
Tennessee
|
PKR Associates LLC
|
Pennsylvania
|
PMB Real Estate Services LLC
|
Delaware
|
PMB Vancouver 601 Physicians Pavilion LLC
|
Delaware
|
PMB Vancouver 602 Admin LLC
|
Delaware
|
PMB Vancouver 603 MedCtr Physicians LLC
|
Delaware
|
PMB Vancouver 604 Memorial MOB LLC
|
Delaware
|
PMB Vancouver 605 Salmon Creek LLC
|
Delaware
|
PMB Vancouver 606 Fisher's Landing LLC
|
Delaware
|
PMB Vancouver 607 Healthy Steps LLC
|
Delaware
|
PMB/NHP Vancouver Partners LLC
|
Delaware
|
PMOB, LLC
|
South Carolina
|
PPMII Limited Partnership
|
Minnesota
|
Prometheus Funds GP, LLC
|
Delaware
|
Prometheus Fund Alternative Partnership L.P.
|
Delaware
|
Prometheus Fund Strategic Realty Investors II L.P.
|
Delaware
|
Prometheus Fund II Alternative Partnership L.P.
|
Delaware
|
Prometheus Fund Senior Housing Partners LP
|
Delaware
|
Prometheus Fund Coinvestment Partnership I LP
|
Delaware
|
Prometheus Senior Quarters LLC
|
Delaware
|
Prometheus Leasehold Parent, LLC
|
Delaware
|
PSLT GP, LLC
|
Delaware
|
PSLT OP, L.P.
|
Delaware
|
PSLT-ALS Properties Holdings, LLC
|
Delaware
|
PSLT-ALS Properties I, LLC
|
Delaware
|
PSLT-ALS Properties II, LLC
|
Delaware
|
PSLT-ALS Properties III, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
PSLT-ALS Properties IV, LLC
|
Delaware
|
PSLT-BLC Properties Holdings, LLC
|
Delaware
|
Retirement Inns II, LLC
|
Delaware
|
Retirement Inns III, LLC
|
Delaware
|
River Hills Medical Associates, LLC
|
South Carolina
|
River Oaks Partners
|
Illinois
|
Riverdale Development, LLC
|
New York
|
RLJ Corp.
|
Massachusetts
|
Rocky Mount Kidney Center Associates
|
North Carolina
|
Rocky Mount Medical Park Limited Partnership
|
North Carolina
|
Roper MOB, LLC
|
South Carolina
|
Round Lake ACC, LLC
|
Delaware
|
Rowan OSC Investors, LP
|
North Carolina
|
RSP, Inc.
|
Massachusetts
|
Sagamore Hills Nominee LLC
|
Delaware
|
Sagamore Hills Nominee LP
|
Delaware
|
Saxonburg Nominee LLC
|
Delaware
|
Saxonburg Nominee LP
|
Delaware
|
Senior Quarters Operating Corp.
|
New York
|
Shippensburg Realty Holdings, LLC
|
Delaware
|
Springs at Clackamas Woods, LLC
|
Oregon
|
St. Cloud MOB, LLC
|
Minnesota
|
St. Francis Community MOB, LLC
|
South Carolina
|
St. Francis Medical Plaza, LLC
|
South Carolina
|
St. Mary's Investors, LLC
|
Virginia
|
Stratford Development, LLC
|
New York
|
SW Louisiana Professional Office Building, LLC
|
Delaware
|
Syracuse MOB SPE, LLC
|
Delaware
|
Syracuse MOB, LLC
|
New York
|
SZR Abington Assisted Living, L.L.C.
|
Pennsylvania
|
SZR Acquisitions, LLC
|
Delaware
|
SZR Arlington, MA Assisted Living, L.L.C.
|
Virginia
|
SZR Aurora GP Inc.
|
Ontario, Canada
|
SZR Aurora Inc.
|
Ontario, Canada
|
SZR Aurora, LP
|
Ontario, Canada
|
SZR Barrington, LLC
|
Delaware
|
SZR Bloomfield Senior Living, LLC
|
Delaware
|
SZR Bloomingdale Assisted Living, L.L.C.
|
Illinois
|
SZR Blue Bell Assisted Living Limited Partnership
|
Pennsylvania
|
SZR Bon Air, LLC
|
Delaware
|
SZR Buffalo Grove Assisted Living, L.L.C.
|
Illinois
|
SZR Burlington Inc.
|
Ontario, Canada
|
SZR Carmichael, LLC
|
Delaware
|
SZR Cascade, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
SZR Chandler, LLC
|
Delaware
|
SZR Cherry Creek Senior Living, LLC
|
Delaware
|
SZR Cinco Ranch, LLC
|
Delaware
|
SZR Columbia LLC
|
Delaware
|
SZR Cuyahoga Falls Senior Living, LLC
|
Delaware
|
SZR East Cobb Assisted Living Limited Partnership
|
Georgia
|
SZR Edina Assisted Living, L.L.C.
|
Minnesota
|
SZR Erin Mills GP Inc.
|
Ontario, Canada
|
SZR Erin Mills Inc.
|
Ontario, Canada
|
SZR Erin Mills, LP
|
Ontario, Canada
|
SZR First Assisted Living Holdings, LLC
|
Delaware
|
SZR Fleetwood A.L., L.L.C.
|
New York
|
SZR Fort Worth, LLC
|
Delaware
|
SZR Frisco, LLC
|
Delaware
|
SZR Granite Run Assisted Living, L.L.C.
|
Pennsylvania
|
SZR Haverford Assisted Living, L.L.C.
|
Pennsylvania
|
SZR Hillcrest Senior Living, LLC
|
Delaware
|
SZR Holladay, LLC
|
Delaware
|
SZR Huntcliff Assisted Living Limited Partnership
|
Georgia
|
SZR Ivey Ridge Assisted Living Limited Partnership
|
Georgia
|
SZR Jackson, LLC
|
Delaware
|
SZR Jacksonville, LLC
|
Delaware
|
SZR Leawood, LLC
|
Delaware
|
SZR Lincoln Park LLC
|
Delaware
|
SZR Lower Makefield, LLC
|
Delaware
|
SZR Markham Inc.
|
Ontario, Canada
|
SZR Mission Viejo Assisted Living, L.L.C.
|
Virginia
|
SZR Mississauga Inc.
|
Ontario, Canada
|
SZR Morris Plains Assisted Living, L.L.C.
|
New Jersey
|
SZR New City Senior Living, LLC
|
Delaware
|
SZR North Ann Arbor Senior Living, LLC
|
Delaware
|
SZR North Hills LLC
|
Delaware
|
SZR North York GP Inc.
|
Ontario, Canada
|
SZR North York Inc.
|
Ontario, Canada
|
SZR Northville Assisted Living, L.L.C.
|
Michigan
|
SZR Norwood LLC
|
Delaware
|
SZR Oakville Inc.
|
Ontario, Canada
|
SZR of Alexandria Assisted Living, L.P.
|
Virginia
|
SZR of North York, LP
|
Ontario, Canada
|
SZR Old Meridian, LLC
|
Delaware
|
SZR Old Tappan Assisted Living, L.L.C.
|
New Jersey
|
SZR Orchard AL, L.L.C.
|
Colorado
|
SZR Overland Park, LLC
|
Delaware
|
SZR Pacific Palisades Assisted Living, L.P.
|
California
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
SZR Palos Park, LLC
|
Virginia
|
SZR Parma Assisted Living, L.L.C.
|
Virginia
|
SZR Richmond Hill Inc.
|
Ontario, Canada
|
SZR River Road, LLC
|
Delaware
|
SZR Riverside Assisted Living, L.P.
|
California
|
SZR Rochester Assisted Living, LLC
|
Delaware
|
SZR Rocklin Senior Living, LLC
|
Delaware
|
SZR Rockville LLC
|
Delaware
|
SZR San Mateo LLC
|
Delaware
|
SZR Sandy Senior Living, LLC
|
Delaware
|
SZR Scottsdale, LLC
|
Delaware
|
SZR Second Assisted Living Holdings, LLC
|
Delaware
|
SZR Second Baton Rouge Assisted Living, L.L.C.
|
Louisiana
|
SZR Second Westminister Assisted Living, L.L.C.
|
Colorado
|
SZR Smithtown A.L., L.L.C.
|
New York
|
SZR Springfield Assisted Living, L.L.C.
|
Virginia
|
SZR Staten Island SL, L.L.C.
|
New York
|
SZR Sterling Canyon Assisted Living Limited Partnership
|
California
|
SZR Troy Assisted Living, L.L.C.
|
Michigan
|
SZR US Investments, LLC
|
Delaware
|
SZR US UPREIT Three, LLC
|
Delaware
|
SZR US UPREIT, LLC
|
Delaware
|
SZR Wall Assisted Living, L.L.C.
|
New Jersey
|
SZR Wayne Assisted Living, L.L.C.
|
New Jersey
|
SZR Westfield Assisted Living, L.L.C.
|
New Jersey
|
SZR Westlake Village LLC
|
Delaware
|
SZR Willowbrook Annex LLC
|
Delaware
|
SZR Willowbrook LLC
|
Delaware
|
SZR Windsor Inc.
|
Ontario, Canada
|
SZR Yorba Linda LLC
|
Delaware
|
Tempe AL RE, L.P.
|
Delaware
|
The Arboretum I Limited Partnership
|
Wisconsin
|
The Arboretum II Limited Partnership
|
Wisconsin
|
The Ponds of Pembroke Limited Partnership
|
Illinois
|
The Terrace at South Meadows, LLC
|
Delaware
|
THL 191 JV, LLC
|
Delaware
|
TLQ, Inc.
|
Massachusetts
|
Tucson AL RE, L.P.
|
Delaware
|
United Rehab Realty Holding, LLC
|
Delaware
|
University Medical Center Tamarac, LLC
|
Delaware
|
VCC Healthcare Fund, LLC (f/k/a Ventas Healthcare Capital, LLC, f/k/a Ventas Sun LLC)
|
Delaware
|
Ventas AH Granbury, LLC
|
Delaware
|
Ventas AH Lewisville, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Ventas AH Midwest, LLC
|
Delaware
|
Ventas AH Mustang, LLC
|
Delaware
|
Ventas AH Norman, LLC
|
Delaware
|
Ventas AH Reminisce, LLC
|
Delaware
|
Ventas AH Rockwall, LLC
|
Delaware
|
Ventas AH Temple, LLC
|
Delaware
|
Ventas AH Weatherford, LLC
|
Delaware
|
Ventas Amberleigh, LLC
|
Delaware
|
Ventas AOC Operating Holdings, Inc.
|
Delaware
|
Ventas AOC Operating Holdings, LLC
|
Delaware
|
Ventas Arlington, LLC
|
Delaware
|
Ventas Bayshore Medical, LLC
|
Delaware
|
Ventas Bear Canyon, LLC
|
Delaware
|
Ventas Birch Heights, LLC
|
Delaware
|
Ventas Bonaventure, LP
|
Delaware
|
Ventas Broadway MOB, LLC
|
Delaware
|
Ventas Caley Ridge, LLC
|
Delaware
|
Ventas Caley Ridge Holding, LLC
|
Delaware
|
Ventas Capital Corporation
|
Delaware
|
Ventas Carlisle, LLC
|
Delaware
|
Ventas Carroll MOB, LLC
|
Delaware
|
Ventas Casper Holdings, LLC
|
Delaware
|
Ventas Center MOB, LLC
|
Delaware
|
Ventas Cooperatief U.A.
|
The Netherlands
|
Ventas Copperfield Estates, LLC
|
Delaware
|
Ventas Crown Pointe, LLC
|
Delaware
|
Ventas CS, LLC (f/ka TH Merger Company, LLC)
|
Delaware
|
Ventas Dasco MOB Holdings, LLC
|
Delaware
|
Ventas Devonshire (Lenox), LLC
|
Delaware
|
Ventas Eagle Lake, LP
|
Delaware
|
Ventas East Lansing, LLC
|
Delaware
|
Ventas EH Holdings, LLC (f/k/a Ventas Cal Sun LLC)
|
Delaware
|
Ventas Fairwood, LLC
|
Delaware
|
Ventas Forest Pines, LLC
|
Delaware
|
Ventas Framingham, LLC
|
Delaware
|
Ventas Garden Square of Casper, LLC
|
Delaware
|
Ventas Georgetowne, LLC
|
Delaware
|
Ventas Grantor Trust #1
|
Delaware
|
Ventas Grantor Trust #2
|
Delaware
|
Ventas Harrison, LLC
|
Delaware
|
Ventas Healthcare Properties, Inc.
|
Delaware
|
Ventas Highland Estates, LLC
|
Delaware
|
Ventas Highland Trail, LLC
|
Delaware
|
Ventas HOL Holdings, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Ventas Kittery Estates, LLC
|
Delaware
|
Ventas Lafayette, LLC
|
Delaware
|
Ventas Lakewood Estates, LLC
|
Delaware
|
Ventas Las Palmas, LLC
|
Delaware
|
Ventas LHRET, LLC
|
Delaware
|
Ventas LP Realty, L.L.C.
|
Delaware
|
Ventas Mansion at Waterford, LLC
|
Delaware
|
Ventas Mezz Lender, LLC
|
Delaware
|
Ventas Hartland Hills, LLC (f/k/a Ventas Millcreek, LLC)
|
Delaware
|
Ventas MO Holdings, LLC
|
Delaware
|
Ventas MOB Holdings II, LLC
|
Delaware
|
Ventas MOB Holdings, LLC
|
Delaware
|
Ventas MS Holdings, LLC
|
Delaware
|
Ventas MS, LLC
|
Delaware
|
Ventas Nexcore Holdings, LLC
|
Delaware
|
Ventas NV GP LLC
|
Delaware
|
Ventas of Vancouver Limited
|
Jersey
|
Ventas Palms, LP
|
Delaware
|
Ventas Paradise Springs, LLC
|
Delaware
|
Ventas Edgewood, LLC (f/k/a Ventas Paradise Valley, LLC)
|
Delaware
|
Ventas Whispering Chase, LLC (f/k/a Ventas Peoria, LLC)
|
Delaware
|
Ventas Pheasant Ridge, LLC
|
Delaware
|
Ventas Plano, LLC
|
Delaware
|
Ventas Plaza MOB, LLC
|
Delaware
|
Ventas Polo Park, LLC
|
Delaware
|
Ventas Provident, LLC
|
Delaware
|
Ventas Raleigh, LLC
|
Delaware
|
Ventas Realty, Limited Partnership
|
Delaware
|
Ventas Redwood, LP
|
Delaware
|
Ventas REIT US Holdings, LLC
|
Delaware
|
Ventas Rose Arbor, LLC
|
Delaware
|
Ventas Santa Barbara, LLC
|
Delaware
|
Ventas Senior Housing, LLC
|
Delaware
|
Ventas SH Holdings I, LLC
|
Delaware
|
Ventas Shasta Estates, LP
|
Delaware
|
Ventas SL Holdings II, LLC
|
Delaware
|
Ventas SL I, LLC
|
Delaware
|
Ventas SL II, LLC
|
Delaware
|
Ventas SL III, LLC
|
Delaware
|
Ventas Springs Holdings, LLC
|
Delaware
|
Ventas Springs JV, LLC
|
Delaware
|
Ventas SSL Beacon Hill, Inc.
|
Ontario, Canada
|
Ventas SSL Holdings, Inc.
|
Delaware
|
Ventas SSL Holdings, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
Ventas SSL Lynn Valley, Inc.
|
Ontario, Canada
|
Ventas SSL Nova Scotia I, Corp.
|
Nova Scotia
|
Ventas SSL Ontario II, Inc.
|
Ontario, Canada
|
Ventas SSL Ontario III, Inc.
|
Ontario, Canada
|
Ventas SSL Vancouver, Inc.
|
Ontario, Canada
|
Ventas SSL, Inc.
|
Delaware
|
Ventas Tanasbourne, LLC
|
Delaware
|
Ventas TRS, LLC
|
Delaware
|
Ventas Sugar Valley (f/k/a Ventas Tucson, LLC)
|
Delaware
|
Ventas University MOB, LLC
|
Delaware
|
Ventas Valencia, LP
|
Delaware
|
Ventas West Shores, LLC
|
Delaware
|
Ventas Western Holdings, LLC (f/k/a Ventas Cottonbloom Holdings, LLC)
|
Delaware
|
Ventas White Bear, LLC
|
Delaware
|
Ventas Whitehall Estates, LLC
|
Delaware
|
Ventas White Oaks, LLC
|
Delaware
|
Ventas Willow Gardens, LLC
|
Delaware
|
Ventas Willow Grove, LP
|
Delaware
|
Ventas Woods at Canco, LLC
|
Delaware
|
Ventas, Inc.
|
Delaware
|
Verdugo Management, LLC
|
California
|
Verdugo MOB, LP
|
California
|
Vernon Hills ACC, LLC
|
Delaware
|
VG Aventura MOB, LLC
|
Delaware
|
Victoria Court Realty, LLC
|
Maine
|
VSCRE Holdings, LLC
|
Delaware
|
VTCC Carroll MOB, LLC
|
Delaware
|
VTR Alpharetta, LLC
|
Delaware
|
VTR Applewood, LLC
|
Delaware
|
VTR Arboretum, LLC
|
Delaware
|
VTR Ardsley, LLC
|
Delaware
|
VTR Assisted Living Virginia Beach, LLC
|
Delaware
|
VTR Assisted Living, Inc.
|
Delaware
|
VTR Austell, LLC
|
Delaware
|
VTR Avista MOB, LLC
|
Delaware
|
VTRAZ Manager, LLC
|
Delaware
|
VTR Barret Avenue MOB, LLC
|
Delaware
|
VTR Barrington POB Holdings, LLC
|
Delaware
|
VTR Bay Spring, LLC
|
Delaware
|
VTR Baypoint Village, LLC
|
Delaware
|
VTR Bayshore, LLC
|
Delaware
|
VTR Bethlehem, LLC
|
Delaware
|
VTR Briarcliff Manor, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
VTR Buckhead, LLC
|
Georgia
|
VTR Burlingame, LP
|
California
|
VTR CAGP, LLC
|
Delaware
|
VTR CA GP II, LLC
|
Delaware
|
VTR Campana Del Rio, LLC
|
Delaware
|
VTR Canyon Springs, LLC
|
Delaware
|
VTR Carmichael Oaks Land, LLC
|
Delaware
|
VTR Carmichael Oaks, LP
|
Delaware
|
VTR Center City, LLC
|
Delaware
|
VTR Chandler Villas, LP
|
California
|
VTR Chicago 93
rd
Street POB, LLC
|
Delaware
|
VTR Cobre Valley MOB, LLC
|
Delaware
|
VTR CO GP, LLC
|
Delaware
|
VTR Countrywood, LP
|
Delaware
|
VTR Covell, LLC
|
California
|
VTR Covell, LP
|
Delaware
|
VTR Crossgate, LLC
|
Delaware
|
VTR Crown Point (Parker) MOB, LLC
|
Delaware
|
VTR Cutter Mill, LLC
|
Delaware
|
VTR CW GP, LLC
|
Delaware
|
VTR Daly City, LP
|
California
|
VTR Darien, LLC
|
Delaware
|
VTR Deer Valley MOB II, LLC
|
Delaware
|
VTR Deer Valley MOB III, LLC
|
Delaware
|
VTR Deer Valley Parking, LLC
|
Delaware
|
VTR Delmar Place, LLC
|
Delaware
|
VTR Desert Samaritan, LLC
|
Delaware
|
VTR DOB III MOB, LLC
|
Delaware
|
VTR Downers Grove POB Holdings, LLC
|
Delaware
|
VTR Durham GP, LLC
|
Delaware
|
VTR Durham, LP
|
Delaware
|
VTR Eberle MOB, LLC
|
Delaware
|
VTR Edwards MOB, LLC
|
Delaware
|
VTR Elizabethtown, LLC
|
Delaware
|
VTR Evergreen Woods, LLC
|
Delaware
|
VTR Falmouth, LLC
|
Delaware
|
VTR FM Texas Holdings GP, LLC
|
Delaware
|
VTR Forest Hills, LLC
|
Delaware
|
VTR Forest Lake, LLC
|
Delaware
|
VTR Forest Trace, LLC
|
Delaware
|
VTR FV, LLC
|
Delaware
|
VTR Garden Park GP, LLC
|
Delaware
|
VTR Garden Park, LP
|
Delaware
|
VTR Glen Cove, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
VTR Golden Creek, Inc.
|
Delaware
|
VTR Grand Oaks GP, LLC
|
Delaware
|
VTR Grand Oaks, LP
|
Delaware
|
VTR Great Neck, LLC
|
Delaware
|
VTR Greece, LLC
|
Delaware
|
VTR Hazel Crest, LLC
|
Delaware
|
VTR Hearthstone East, LLC
|
Delaware
|
VTR Hearthstone West, LLC
|
Delaware
|
VTR Heritage LF, LLC
|
Delaware
|
VTR Hertlin House, LLC
|
Delaware
|
VTR Highland Crossing, LLC
|
Kentucky
|
VTR Hillcrest Inn GP, LLC
|
Delaware
|
VTR Hillcrest Inn, LP
|
Delaware
|
VTR Hillsdale, LLC
|
Delaware
|
VTR Hillsdale, LP
|
Delaware
|
VTR Hudson, LLC
|
Delaware
|
VTR Huntington, LLC
|
Delaware
|
VTR II Acquisition LLC
|
Delaware
|
VTR III Acquisition LLC
|
Delaware
|
VTR Jefferson Clinic MOB, LLC
|
Delaware
|
VTR Johnson Ferry, LLC
|
Delaware
|
VTR Jupiter, LLC
|
Delaware
|
VTR Kennebunk, LLC
|
Delaware
|
VTR Kew Gardens LLC
|
New York
|
VTR Kinghaven, LLC
|
Delaware
|
VTR Lakewood, LLC
|
Delaware
|
VTR Las Posas, LP
|
California
|
VTR Longmeadow Place, LLC
|
Delaware
|
VTR Lynbrook, LLC
|
Delaware
|
VTR Manresa , LLC
|
Delaware
|
VTR Manresa Business Trust
|
Maryland
|
VTR Marland Place II, LLC
|
Delaware
|
VTR Marland Place III, LLC
|
Delaware
|
VTR Marland Place, LLC
|
Delaware
|
VTR Merrywood, LLC
|
Delaware
|
VTR Mezz Guarantee LLC
|
Delaware
|
VTR Mezz II, LLC
|
Delaware
|
VTR Mezz III, LLC
|
Delaware
|
VTR Mezz LLC
|
Delaware
|
VTR Montego Heights, LP
|
California
|
VTR Nevada Assisted Living, Inc.
|
Nevada
|
VTR Newburgh, LLC
|
Delaware
|
VTR Northeast Holdings, LLC
|
Delaware
|
VTR Northport Development, LLC
|
New York
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
VTR Oak Knoll, LP
|
Delaware
|
VTR Oak Lawn POB, LLC
|
Delaware
|
VTR Palm Desert, LLC
|
Delaware
|
VTR Palm Desert, LP
|
Delaware
|
VTR Papago Medical Park, LLC
|
Delaware
|
VTR Penfield, LLC
|
Delaware
|
VTR Plano, LLC
|
Delaware
|
VTR Plainview, LLC
|
Delaware
|
VTR Property Holdings Carrollton GP, LLC
|
Delaware
|
VTR Property Holdings Carrollton, LP
|
Texas
|
VTR Property Holdings Copeland, LLC
|
Delaware
|
VTR Property Holdings Cypresswood, LLC
|
Delaware
|
VTR Property Holdings Grapevine, LP
|
Texas
|
VTR Property Holdings Richardson, LLC
|
Delaware
|
VTR Property Holdings Westchase GP, LLC
|
Delaware
|
VTR Property Holdings Westchase, LP
|
Texas
|
VTR Quail Ridge, LP
|
Delaware
|
VTR Raleigh, LLC
|
Delaware
|
VTR Raleigh, LP
|
Delaware
|
VTR Raleigh GP, LLC
|
Delaware
|
VTR Regency, LLC
|
Delaware
|
VTR Retirement and Assisted Living Briarcliff, LLC
|
Delaware
|
VTR Richland Hills, LLC
|
Delaware
|
VTR Riverdale LLC
|
New York
|
VTR Roslyn, LLC
|
Delaware
|
VTR Rye Brook, LLC
|
Delaware
|
VTR Salisbury Business Trust
|
Maryland
|
VTR Salisbury, LLC
|
Delaware
|
VTR Sandy, LLC
|
Delaware
|
VTR Senior Living LLC
|
Delaware
|
VTR Shaker, LLC
|
Delaware
|
VTR Springdale, LLC
|
Delaware
|
VTR SQ Holdings Corp.
|
Delaware
|
VTR SQ Interim Corp.
|
Delaware
|
VTR SQ, LLC
|
Delaware
|
VTR St. Matthews, LLC
|
Delaware
|
VTR Stamford, LLC
|
Delaware
|
VTR Stony Brook, LLC
|
Delaware
|
VTR Stratford LLC
|
Connecticut
|
VTR Summit Hills, LLC
|
Delaware
|
VTR Sunlake, LLC
|
Delaware
|
VTR Sunnyvale, LP
|
California
|
VTR Sutton Terrace, LLC
|
Delaware
|
VTR Swap II, LLC
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
VTR Swap LLC
|
Delaware
|
VTR Tanglewood LLC
|
Delaware
|
VTR Tarzana GP, LLC
|
Delaware
|
VTR Tarzana, LLC
|
Delaware
|
VTR Tarzana, LP
|
Delaware
|
VTR Temecula GP, LLC
|
Delaware
|
VTR Temecula Land, LLC
|
Delaware
|
VTR Temecula, LP
|
Delaware
|
VTR Texas Holdings GP II, LLC
|
Delaware
|
VTR Texas Holdings GP, LLC
|
Delaware
|
VTR Texas Holdings II, LP
|
Texas
|
VTR Texas Holdings, LP
|
Texas
|
VTR Thunderbird Paseo Medical Plaza, LLC
|
Delaware
|
VTR Tucker, LLC
|
Delaware
|
VTR Tinton Falls Corp.
|
New Jersey
|
VTR Valley Manor, LLC
|
Delaware
|
VTR Valley View, LP
|
California
|
VTR Villa Campana, LLC
|
Delaware
|
VTR Vistas Longmont, LLC
|
Delaware
|
VTR Willow Glen, LP
|
Delaware
|
VTR Windsor Woods, LLC
|
Delaware
|
VTR Woodbridge Place, LLC
|
Delaware
|
VTR-EMRTS Holdings, LLC
|
Delaware
|
VTRLTH MAB I, LLC
|
Delaware
|
VTRLTH MAB II, LLC
|
Delaware
|
West Medical Office I, LP
|
South Carolina
|
West Tennessee Investors, LLC
|
Tennessee
|
WG 86th Street SH, LLC
|
Delaware
|
WG Alden Place, LLC
|
Delaware
|
WG Alpharetta, LLC
|
Delaware
|
WG Applewood SH, LLC
|
Delaware
|
WG Aquidneck Place SH, LLC
|
Delaware
|
WG Arboretum, LLC
|
Delaware
|
WG Austell, LLC
|
Delaware
|
WG Bay Spring SH, LLC
|
Delaware
|
WG Baypoint Village SH, LLC
|
Delaware
|
WG Bayshore SH, LLC
|
Delaware
|
WG Bayside Landing SH, LP
|
Delaware
|
WG Bethlehem SH, LLC
|
Delaware
|
WG Briarcliff Manor SH, LLC
|
Delaware
|
WG Buckhead SH, LLC
|
Delaware
|
WG Burlingame SH, LP
|
Delaware
|
WG Campana Del Rio SH, LLC
|
Delaware
|
WG Carmichael Oaks, LP
|
Delaware
|
Entity Name
|
Jurisdiction of Organization or
Formation
|
WG Hacienda SH, LP
|
Delaware
|
WG Hamilton Heights Place, LLC
|
Delaware
|
WG Harborhill Place SH, LLC
|
Delaware
|
WG Hearthstone East SH, LLC
|
Delaware
|
WG Hearthstone West SH, LLC
|
Delaware
|
WG Heritage LF, LLC
|
Delaware
|
WG Hertlin House, LLC
|
Delaware
|
WG Highland Crossing SH, LLC
|
Delaware
|
WG Hillcrest Inn SH, LP
|
Delaware
|
WG Hillsdale SH, LP
|
Delaware
|
WG Hudson SH, LLC
|
Delaware
|
WG Huntington SH, LLC
|
Delaware
|
WG Johnson Ferry SH, LLC
|
Delaware
|
WG Jupiter, LLC
|
Delaware
|
WG Kennebunk SH, LLC
|
Delaware
|
WG Kew Gardens SH, LLC
|
Delaware
|
WG Kinghaven SH, LLC
|
Delaware
|
WG Kingwood SH, LLC
|
Delaware
|
WG Lakewood SH, LLC
|
Delaware
|
WG Larson Place, LLC
|
Delaware
|
WG Las Posas SH, LP
|
Delaware
|
WG Lincoln Place SH, LLC
|
Delaware
|
WG Longmeadow Place SH, LLC
|
Delaware
|
WG Lynbrook SH, LLC
|
Delaware
|
WG Manresa SH, LLC
|
Delaware
|
WG Marina Place, LLC
|
Delaware
|
WG Marland Place SH, LLC
|
Delaware
|
WG Merrimack Place, LLC
|
Delaware
|
WG Merrywood SH, LLC
|
Delaware
|
WG Montego Heights SH, LP
|
Delaware
|
WG Newburgh SH, LLC
|
Delaware
|
WG Oak Knoll, LP
|
Delaware
|
WG Palm Desert, Inc.
|
California
|
WG Penfield SH, LLC
|
Delaware
|
WG Plano, LLC
|
Delaware
|
WG Plainview SH, LLC
|
Delaware
|
WG Quail Ridge, LP
|
Delaware
|
WG Rancho Park SH, LP
|
Delaware
|
WG Raleigh, LP
|
Delaware
|
WG Regency SH, LLC
|
Delaware
|
WG Richardson SH, LLC
|
Delaware
|
WG Richland Hills, LLC
|
Delaware
|
WG Riverdale SH, LLC
|
Delaware
|
WG Rye Brook SH, LLC
|
Delaware
|
/s/ Debra A. Cafaro
|
|
|
Debra A. Cafaro
Chairman and Chief Executive Officer |
|
|
/s/ Richard A. Schweinhart
|
|
|
Richard A. Schweinhart
Executive Vice President and Chief Financial Officer |
|
|
/s/ Debra A. Cafaro
|
|
|
Debra A. Cafaro
Chairman and Chief Executive Officer |
|
|
/s/ Richard A. Schweinhart
|
|
|
Richard A. Schweinhart
Executive Vice President and Chief Financial Officer |
|
|